BTCS Inc. Files 10-Q for Q1 2024

TL;DR

<b>BTCS Inc. has filed its Q1 2024 10-Q report, detailing financial information and corporate structure.</b>

AI Summary

BTCS Inc. (BTCS) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. BTCS Inc. filed its 10-Q report for the period ending March 31, 2024. The company's fiscal year ends on December 31. BTCS Inc. is incorporated in Nevada. The company's business and mailing address is 9466 Georgia Avenue #124, Silver Spring, MD 20910. The filing includes data related to preferred stock, common stock, additional paid-in capital, and retained earnings for various periods.

Why It Matters

For investors and stakeholders tracking BTCS Inc., this filing contains several important signals. This filing provides investors with the latest financial performance and position of BTCS Inc. for the first quarter of 2024. Understanding the details in this 10-Q is crucial for assessing the company's financial health, operational activities, and future prospects in the cryptocurrency sector.

Risk Assessment

Risk Level: low — BTCS Inc. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not contain significant new information that would alter the risk profile.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand BTCS Inc.'s performance and strategic focus.

Key Numbers

• 2024-03-31 — Period of Report (10-Q filing)
• 2024-05-14 — Filing Date (10-Q filing)
• 2015-04-22 — Date of Name Change (Former company name Bitcoin Shop, Inc.)
• 2014-02-04 — Date of Name Change (Former company name BITCOIN SHOP INC.)
• 2010-05-24 — Date of Name Change (Former company name TouchIT Technologies, Inc.)

Key Players & Entities

• BTCS Inc. (company) — Filer
• 2024-03-31 (date) — Period of report
• 2024-05-14 (date) — Filed as of date
• NV (jurisdiction) — State of incorporation
• Silver Spring (location) — Business address city
• MD (location) — Business address state
• 20910 (postal_code) — Business address zip
• Bitcoin Shop, Inc. (company) — Former company name

FAQ

Industry Context

BTCS Inc. operates within the finance services sector, specifically focusing on cryptocurrency-related activities.

Regulatory Implications

As a publicly traded company, BTCS Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Examine any disclosed risk factors or management discussions.
3. Compare key financial metrics to previous periods if available in the full filing.

Key Dates

• 2024-03-31: Period End Date — End of the first fiscal quarter of 2024.
• 2024-05-14: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing an update from the previous year-end report.

Key Financial Figures

• $0.001 B — ch registered Common Stock, par value $0.001 BTCS The Nasdaq Stock Market (The Nas
• $0 — 5,415 shares of Common Stock, par value $0.001, issued and outstanding. BTCS INC

Filing Documents

• form10-q.htm (10-Q) — 933KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 12KB
• 0001493152-24-019301.txt (&nbsp;) — 5124KB
• btcs-20240331.xsd (EX-101.SCH) — 37KB
• btcs-20240331_cal.xml (EX-101.CAL) — 41KB
• btcs-20240331_def.xml (EX-101.DEF) — 151KB
• btcs-20240331_lab.xml (EX-101.LAB) — 327KB
• btcs-20240331_pre.xml (EX-101.PRE) — 270KB
• form10-q_htm.xml (XML) — 855KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION ITEM 1

Financial Statements

Financial Statements 4 Condensed Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 4 Condensed Statements of Operations for the Three Months Ended March 31, 2024 and 2023 (unaudited) 5 Condensed Statements of Changes in Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 (unaudited) 6 Condensed Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 (unaudited) 7 Notes to the Unaudited Condensed Financial Statements 8-25 ITEM 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 ITEM 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 ITEM 4

Controls and Procedures

Controls and Procedures 33

- OTHER INFORMATION

PART II - OTHER INFORMATION ITEM 1

Legal Proceedings

Legal Proceedings 34 ITEM 1A

Risk Factors

Risk Factors 34 ITEM 2 Unregistered Sales of Equity Securities and Use of Proceeds 34 ITEM 3 Defaults Upon Senior Securities 34 ITEM 4 Mine Safety Disclosures 34 ITEM 5 Other Information 34 ITEM 6 Exhibits 34 Signature 35 2 BTCS INC. As used in this Quarterly Report on Form 10-Q, the terms "we," "us," "our," the "Company," the "Registrant," and "BTCS Inc.," mean BTCS Inc., unless otherwise indicated. 3 PART I - FINANCIAL INFORMATION ITEM 1 Financial Statements BTCS Inc. Balance Sheets March 31, 2024 December 31, 2023 (Unaudited) Assets: Current assets: Cash and cash equivalents $ 670,594 $ 1,458,327 Stablecoins 14,797 21,044 Crypto assets 721,659 302,783 Staked crypto assets 37,999,116 24,900,146 Prepaid expenses 31,620 62,461 Receivable for capital shares sold - 291,440 Total current assets 39,437,786 27,036,201 Other assets: Investments, at value (Cost $ 100,000 ) 100,000 100,000 Property and equipment, net 8,995 10,490 Total other assets 108,995 110,490 Total Assets $ 39,546,781 $ 27,146,691 Liabilities and Stockholders' Equity: Accounts payable and accrued expenses $ 26,193 $ 55,058 Accrued compensation 6,419 712,092 Warrant liabilities 213,750 213,750 Total current liabilities 246,362 980,900 Stockholders' equity: Preferred stock: 20,000,000 shares authorized at $ 0.001 par value: - - Series V preferred stock: 14,567,829 and 14,567,829 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 2,563,938 2,563,938 Preferred stock value 2,563,938 2,563,938 Common stock, 975,000,000 shares authorized at $ 0.001 par value, 15,705,415 and 15,320,281 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 15,707 15,322 Additional paid in capital 163,141,291 162,263,634 Accumulated deficit ( 126,420,517 ) ( 138,677,103 ) Total stockholders' equity 39,300,419 26,165,791 Tota

View Full Filing

View this 10-Q filing on SEC EDGAR