Quarterly report pursuant to Section 13 or 15(d)

Digital Currencies

v3.8.0.1
Digital Currencies
 3 Months Ended
Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Digital Currencies
Note 10. Digital Currencies

The following table presents additional information about digital currencies:
 
   
March 31, 2018
  
Digital currencies balance - January 1. 2018
  
$
200,164
  
Additions of digital currencies
    
901,380
  
Purchase of digital currencies
    
5,625,000
  
Change in fair value of digital currencies
    
(2,467,875
)
Digital currencies balance - March 31, 2018
  
$
4,258,669
  

As March 31, 2018, the Company’s digital currencies consisted of bitcoin, with a fair value of approximately $4,259,000. Digital currencies are recorded at their fair value on the date they are received as revenues, and are revalued to their current market value at each reporting date. Fair value is determined by taking the spot rate from the most liquid exchanges.