Mawson Infrastructure Group Inc. Files 10-Q for Period Ended March 31, 2024

TL;DR

<b>Mawson Infrastructure Group Inc. has filed its Q1 2024 10-Q report, detailing its financial status and operations.</b>

AI Summary

Mawson Infrastructure Group Inc. (MIGI) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. Mawson Infrastructure Group Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024. The company is registered in Delaware and its fiscal year ends on December 31. Its common stock trades under the symbol MIGI on The Nasdaq Stock Market LLC. Mawson Infrastructure Group Inc. was formerly known as Wize Pharma, Inc., OphthaliX, Inc., and DENALI CONCRETE MANAGEMENT INC. The filing indicates the company is a smaller reporting company and a non-accelerated filer.

Why It Matters

For investors and stakeholders tracking Mawson Infrastructure Group Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for Mawson Infrastructure Group Inc. for the first quarter of 2024. As a smaller reporting company and non-accelerated filer, this report is crucial for understanding its financial health and compliance with SEC regulations.

Risk Assessment

Risk Level: low — Mawson Infrastructure Group Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial or operational disclosures that would alter the risk profile based solely on the header information.

Analyst Insight

Review the full 10-Q filing for detailed financial statements, management discussion, and risk factors to assess Mawson Infrastructure Group Inc.'s current performance and outlook.

Key Numbers

• 2024-03-31 — Quarterly Period End Date (Reporting period for the 10-Q)
• 2024-05-15 — Filing Date (Date the 10-Q was filed)
• 001-40849 — Commission File Number (SEC file number for the registrant)
• 88-0445167 — IRS Employer Identification No. (Registrant's IRS number)

Key Players & Entities

• Mawson Infrastructure Group Inc. (company) — Registrant name
• MIGI (company) — Trading symbol
• The Nasdaq Stock Market LLC (company) — Exchange where common stock is registered
• Wize Pharma, Inc. (company) — Former company name
• OphthaliX, Inc. (company) — Former company name
• DENALI CONCRETE MANAGEMENT INC (company) — Former company name
• Delaware (jurisdiction) — State of incorporation

FAQ

Industry Context

The filing is a standard SEC Form 10-Q, which provides a comprehensive overview of a company's financial condition and results of operations for a quarterly period.

Regulatory Implications

The filing is made pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, requiring regular reporting from public companies.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-Q for revenue, expenses, assets, and liabilities.
2. Review the Management's Discussion and Analysis of Financial Condition and Results of Operations section for insights into business performance and outlook.
3. Examine the risk factors section for any new or updated risks that could impact the company.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-15: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial review of the 10-Q filing for the period ended March 31, 2024. A comparison to prior filings would require access to those documents.

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share MIGI The Nasdaq Stock Market

Filing Documents

• ea0206030-10q_mawson.htm (10-Q) — 601KB
• ea020603001ex3-8_mawson.htm (EX-3.8) — 7KB
• ea020603001ex10-1_mawson.htm (EX-10.1) — 70KB
• ea020603001ex31-1_mawson.htm (EX-31.1) — 10KB
• ea020603001ex31-2_mawson.htm (EX-31.2) — 10KB
• ea020603001ex32_mawson.htm (EX-32) — 6KB
• 0001213900-24-043743.txt (&nbsp;) — 4207KB
• migi-20240331.xsd (EX-101.SCH) — 37KB
• migi-20240331_cal.xml (EX-101.CAL) — 45KB
• migi-20240331_def.xml (EX-101.DEF) — 196KB
• migi-20240331_lab.xml (EX-101.LAB) — 355KB
• migi-20240331_pre.xml (EX-101.PRE) — 196KB
• ea0206030-10q_mawson_htm.xml (XML) — 397KB

– Financial Information

Part I – Financial Information Item 1.

Financial Statements

Financial Statements 1 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 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risks

Quantitative and Qualitative Disclosures About Market Risks 33 Item 4.

Controls and Procedures

Controls and Procedures 3 3

– Other Information

Part II – Other Information Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 37 Item 3. Defaults Upon Senior Securities 37 Item 4. Mine Safety Disclosures 38 Item 5. Other Information 38 Item 6. Exhibits 39

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements MAWSON INFRASTRUCTURE GROUP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED BALANCE SHEETS March 31, December 31, 2024 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 6,373,082 $ 4,476,339 Prepaid expenses 4,242,057 3,556,933 Trade and other receivables 13,243,037 12,105,387 Total current assets 23,858,176 20,138,659 Property and equipment, net 36,369,878 57,740,291 Derivative asset 5,744,241 4,058,088 Investments, equity method 102,155 106,807 Security deposits 415,651 415,000 Operating lease right-of-use asset 1,219,943 2,307,399 Total assets $ 67,710,044 $ 84,766,244 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Trade and other payables $ 34,196,548 $ 32,513,113 Current portion of operating lease liability 888,637 1,416,310 Current portion of finance lease liability 33,677 33,059 Current portion of long-term borrowings 19,125,415 19,352,752 Total current liabilities 54,244,277 53,315,234 Operating lease liability, net of current portion 410,165 1,016,216 Finance lease liability, net of current portion 41,510 50,164 Total liabilities 54,695,952 54,381,614 Commitments and Contingencies Stockholders' equity: Series A preferred stock; 1,000,000 shares authorized, no shares issued and outstanding as of March 31, 2024 and December 31, 2023 - - Common stock, $ 0.001 par value per share; 90,000,000 shares authorized, 16,644,711 shares issued and outstanding as of March 31, 2024 and December 31, 2023 16,645 16,645 Additional paid-in capital 215,249,725 211,279,176 Accumulated other comprehensive income 178,386 608,688 Accumulated deficit ( 202,430,664 ) ( 182,666,465 ) Total Mawson Infrastructure Group, Inc. stockholders' equity 13,014,092 29,238,044 Non-controlling interest - 1,146,586 Total stockholders' equity 13,014,092 30,384,630 Total liabilities and stockholders' equity $ 67,710,0

View Full Filing

View this 10-Q filing on SEC EDGAR