BTCS Reports $4.5 Million Loss For This Year’s First Half
BTCS Inc. is one of the early movers in the blockchain and digital currency ecosystems and the first U.S. public company focused on blockchain technologies. Following the annual, quarterly report (Form 10-Q) with the Security Exchange Commission – SEC, BTCS Inc., formerly known as Bitcoin Shop, reported losses over $4.5m for the first half of 2015.....
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Bitcoin mining and consumer services firm BTCS Inc (formerly Bitcoin Shop) lost more money than it made the first half of this year. The Nevada company reported a net loss of $4.59m for the first half of 2015 in its 10-Q filing with the SEC. The loss represented an increase over the roughly $4m loss incurred over the same period in 2014. The change seems to have been driven largely by rise in non-operational costs, which rose from $205,000 to $791,000. In interview, however, CEO Charles Allen suggested that he views the report as a validation of BTCS' recent market strategy shift. Allen....
Bitcoin mining company BTCS Inc has incurred a $4.5 million loss in the first half of 2015. According to its recent 10-Q filing with the US Securities and Exchange Commission (SEC), a major part of the said loss have been navigated by the surge in the company's non-operational costs, which jumped from $205,000 to around $791,000 since December 31st last year. The said non-operational costs include some additional expenses, such as inducement expense, interest expenses, loss on issuance of units, and others. At the same time, BTCS reported revenues from some of its services, including....
Blockchain firm BTCS Inc. (OTCQB: BTCS) has entered into an equipment financing deal with CSC Leasing Company in order to lower the cost of capital. CSC is an independent lessor of technology equipment providing custom lease solutions to several firms. Charles Allen, Chief Executive Officer of BTCS said, "The financing flexibility provided by our agreement with CSC puts us in an advantageous position to improve shareholder value as we move forward on the next phase of our growth strategy. While specific terms of the facility will be determined as we add new equipment, such as....
Bitcoin mining firm BTCS, formerly known as Bitcoin Ship has completed a $1.45 million round of financing on December 16, led by Cavalry Fund LP. Originally known as Bitcoin Shop, BTCS was an e-commerce retailer that shifted its business model to bitcoin mining. The company was in need of a cash-boost after a recent SEC filing raised concerns of the company's ability to even exist in the long term. The SEC filing shows a net loss of $8.4 million for nine months ending September 2015. An excerpt from the SEC filing read: Because of recurring operating losses, net operating cash flow....
BTCS Inc., a provider of ecommerce and bitcoin transaction verification services, suffered a $10 million-plus net loss in 2015 despite a revenue gain, according to a 10-K form filed with the U.S. Securities Exchange Commission for fiscal 2015. The statement noted net losses of $14,757,016 and $10,047,036 in 2014 and 2015, respectively. Total revenues were $38,214 and $506,190 for 2014 and 2015, respectively. Revenues came from processing customer transactions through the ecommerce website and from fees for transaction verification services. Formerly Bitcoin Shop, Inc., BTCS in February....