Company: MSTR
Filing Date: 2025-01-03
Form Type: DEF 14A
Source: 0001140361-25-000231
Chunk: 113

Company: Strategy Inc
Filing Date: 2025-01-03
Form: DEF 14A
Chunk 113
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. In addition, information technology (IT) professionals with specialized skills and knowledge in blockchain technology were needed to assist in the evaluation of the sufficiency of certain audit procedures.

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The following are the primary procedures we performed to address this critical audit matter. We evaluated the design and tested the operating effectiveness of certain internal controls over the digital assets process, including a control over the comparison of the Company’s records of digital assets held to the custodial records. We involved IT professionals with specialized skills and knowledge in blockchain technology, who assisted in evaluating certain internal controls over the digital assets process performed at the custodial locations, related specifically to the generation of the private cryptographic keys, the storing of these keys, and the reconciliation of digital assets per the custodial service ledgers to the public blockchain. We obtained confirmation of the Company’s digital assets in custody as of December 31, 2023 and compared the total digital assets confirmed to the Company’s record of digital asset holdings. We also compared the Company’s record of digital asset transactions to the records on the public blockchain using a software audit tool. We applied auditor judgment in determining the nature and extent of audit evidence required, especially related to assessing the existence of the digital assets and whether the Company controls the digital assets. We evaluated the sufficiency and appropriateness of audit evidence obtained by assessing the results of procedures performed over the digital assets.

We have served as the Company’s auditor since 2013.

McLean, Virginia

February 15, 2024

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TABLE OF CONTENTS

MICROSTRATEGY INCORPORATED CONSOLIDATED BALANCE SHEETS (in thousands, except per share data)

|                                                                                                                                                                                            |     | December 31, 
         2023 |     | December 31, 
         2022 |
|:-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|-------------:|:----|-------------:|
| Assets                                                                                                                                                                                     |     |              |     |              |
| Current assets:                                                                                                                                                                            |     |              |     |              |
| Cash and cash equivalents                                                                                                                                                                  |     |      $46,817 |     |      $43,835 |
| Restricted cash                                                                                                                                                                            |     |        1,856 |     |        7,033 |
| Accounts receivable, net                                                                                                                                                                   |     |      183,815 |     |      189,280 |
| Prepaid expenses and other current