Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows From Operating Activities    
Net loss $ (3,336,676) $ (8,776,469)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Income from discontinued operations, net of tax provision (1,637,042) (274,789)
Stock-based compensation 643,148 3,946,786
Change in fair value of warrant liabilities 36,300 0
Amortization of debt discount 3,646 64,192
Expenses paid on behalf of WPT (136,329) (110,898)
Depreciation and amortization 965,217 899,097
Deferred rent (14,076) 5,683
Changes in operating assets and liabilities:    
Accounts receivable 207,921 501,586
Prepaid expenses and other current assets 286,932 278,742
Accounts payable 190,440 579,628
Accrued expenses and other current liabilities 235,544 (102,037)
Accrued interest 149,460 618,748
Due to affiliates 2,534,402 1,432,526
Deferred revenue 41,885 231,071
Total Adjustments 3,507,448 8,070,335
Net Cash Provided by (Used In) Operating Activities 170,772 (706,134)
Cash Flows From Investing Activities    
Deposit for sale of WPT 10,000,000
Return of Simon investment (3,650,000)
Investment in TV Azteca (1,500,000)
Purchases of property and equipment (10,203) (225,007)
Net Cash Provided By (Used in) Investing Activities 9,989,797 (5,375,007)
Cash Flows From Financing Activities    
Proceeds from sale of common stock 5,000,000
Net Cash Provided By Financing Activities 5,000,000
Cash Flows From Discontinued Operations    
Operating activities (974,601) (2,392,099)
Investing activities 1,013,683 734,301
Financing activities (685,300)
Change in cash included in discontinued operations 646,218 1,657,798
Net Cash Provided By Discontinued Operations
Effect of Exchange Rate Changes on Cash (41,776)
Net Increase (Decrease) In Cash And Restricted Cash 10,118,793 (1,081,141)
Cash and restricted cash - Beginning of period 5,424,222 6,927,417
Cash and restricted cash - End of period 15,543,015 5,846,276
Cash and restricted cash consisted of the following:    
Cash 10,543,015 846,276
Restricted cash 5,000,000 5,000,000
Total 15,543,015 5,846,276
Non-Cash Financing Activities    
Shares issued for redemption of debt and accrued interest $ 821,867