BTCS Inc. Files Q3 2024 10-Q Report

TL;DR

BTCS Inc. filed its Q3 10-Q. No major financial highlights in this snippet.

AI Summary

BTCS Inc. filed its Q3 2024 10-Q report on November 13, 2024, covering the period ending September 30, 2024. The company, formerly known as Bitcoin Shop, Inc., is incorporated in Nevada and operates in the finance services sector. Key financial data and previous company names are listed, but specific financial performance figures for the quarter are not detailed in this excerpt.

Why It Matters

This filing provides an update on BTCS Inc.'s financial status and corporate information for the third quarter of 2024, which is crucial for investors and stakeholders to assess the company's performance and outlook.

Risk Assessment

Risk Level: medium — As a company in the digital asset space, BTCS Inc. faces inherent volatility and regulatory risks associated with cryptocurrencies.

Key Numbers

• Q3 2024 — Reporting Period (The period covered by the 10-Q filing.)
• September 30, 2024 — Period End Date (The specific date marking the end of the fiscal quarter.)
• November 13, 2024 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• BTCS Inc. (company) — Filer of the 10-Q report
• Bitcoin Shop, Inc. (company) — Former company name of BTCS Inc.
• 20240930 (date) — End of the reporting period for the 10-Q
• 20241113 (date) — Filing date of the 10-Q

FAQ

Key Financial Figures

• $0.001 B — ch registered Common Stock, par value $0.001 BTCS The Nasdaq Stock Market (The Nas

Filing Documents

• form10-q.htm (10-Q) — 1244KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 12KB
• 0001493152-24-045124.txt ( ) — 6266KB
• btcs-20240930.xsd (EX-101.SCH) — 40KB
• btcs-20240930_cal.xml (EX-101.CAL) — 46KB
• btcs-20240930_def.xml (EX-101.DEF) — 172KB
• btcs-20240930_lab.xml (EX-101.LAB) — 354KB
• btcs-20240930_pre.xml (EX-101.PRE) — 295KB
• form10-q_htm.xml (XML) — 1155KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION ITEM 1

Financial Statements

Financial Statements 4 Condensed Balance Sheets as of September 30, 2024 (unaudited) and December 31, 2023 4 Condensed Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 (unaudited) 5 Condensed Statements of Changes in Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 (unaudited) 6 Condensed Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 (unaudited) 7 Notes to the Unaudited Condensed Financial Statements 8-27 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 28 ITEM 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 39 ITEM 4

Controls and Procedures

Controls and Procedures 39

- OTHER INFORMATION

PART II - OTHER INFORMATION ITEM 1

Legal Proceedings

Legal Proceedings 40 ITEM 1A

Risk Factors

Risk Factors 40 ITEM 2 Unregistered Sales of Equity Securities and Use of Proceeds 40 ITEM 3 Defaults Upon Senior Securities 40 ITEM 4 Mine Safety Disclosures 40 ITEM 5 Other Information 40 ITEM 6 Exhibits 40 Signature 41 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 September 30, December 31, 2024 2023 (Unaudited) Assets: Current assets: Cash and cash equivalents $ 254,466 $ 1,458,327 Stablecoins 40,397 21,044 Crypto assets 430,483 302,783 Staked crypto assets 25,317,039 24,900,146 Prepaid compensation 288,309 - Prepaid expenses 96,439 62,461 Receivable for capital shares sold - 291,440 Total current assets 26,427,133 27,036,201 Other assets: Investments, at value (Cost $ 100,000 ) 100,000 100,000 Property and equipment, net 6,015 10,490 Total other assets 106,015 110,490 Total Assets $ 26,533,148 $ 27,146,691 Liabilities and Stockholders' Equity: Accounts payable and accrued expenses $ 266,827 $ 55,058 Accrued compensation 1,052,647 712,092 Warrant liabilities 17,813 213,750 Total current liabilities 1,337,287 980,900 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 September 30, 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, 16,555,221 and 15,320,281 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 16,555 15,322 Additional paid-in capital 164,803,541 162,263,634 Accumulated deficit ( 142,188,173 ) ( 138,677,103 )

View Full Filing

View this 10-Q filing on SEC EDGAR