Sudden Push for Improved Blockchain Technology Jumps to the Forefront - Seite 3

MGT Capital Investments, Inc. (OTCQB:MGTI) announced earlier this month the filing of its 2017 Annual Report on Form 10-K with the Securities and Exchange Commission yesterday. The entire document can be viewed at the Company's website or at http://www.sec.gov. MGT reported revenues from bitcoin mining of $3.1 million in 2017 versus $313,000 in 2016, with a gross margin of $1.6 million compared to $104,000, respectively. Net loss was $50.4 million for 2017 and $24.5 million for 2016. Net loss in 2017 was largely the result of non-cash accounting charges relating to stock-based compensation and to the early extinguishment of debt. Net cash used in operating activities decreased to $2.4 million in 2017 compared to $5.5 million in the prior period. Balance sheet metrics include cash of $9.5 million as of December 31, 2017 versus $345,000 at yearend 2016. Total debt was reduced to zero at yearend 2017 compared to $2.3 million for the prior period. On December 31, 2017, stockholder's equity was $11.9 million versus a deficit of ($583,000) a year earlier.

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