Get Started for Free Contexxia identifies hard-to-find pieces of information in SEC filings. No more highlighters, no more redlining, no more poring over huge documents. IDEANOMICS, INC. (837852) 10-Q/A published on Feb 14, 2020 at 5:05 pm
The following Form 10-Q/A for the quarter ended September 30, 2019 is being filed to conform to the disclosure contained in the Form S-1/A filed with the Securities and Exchange Commission on February 13, 2020; specifically, to adjust the number of contingently issuable shares disclosed in Note 16 to the financial statements contained herein and to adjust the disclosure related to GTDollar Coins (“GTB”) as it related to GTB being denominated in Bitcoin and Ethereum.
Digital Currency consists of GTB received in connection with the services agreement and asset purchase agreement with GTD. Given that there is limited precedent regarding the classification and measurement of cryptocurrencies and other digital currency under current GAAP, the Company has determined to account for these tokens as indefinite-lived intangible assets in accordance with ASC 350, Intangibles-Goodwill and Other until further guidance is issued by the FASB.