Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows From Operating Activities    
Net income (loss) $ 68,025,838 $ (26,206,075)
Adjustments to reconcile net loss to net cash used in operating activities:    
Income from discontinued operations, net of tax provision (79,330,696) (630,678)
Stock-based compensation 1,081,362 4,729,643
Gain on forgiveness of PPP loans and interest (912,475)
Conversion inducement expense 5,247,531
Extinguishment loss on acceleration of debt redemption 1,733,768
Change in fair value of warrant liabilities 1,100
Amortization of debt discount 3,646 1,639,150
Non-cash interest expense 46,110 183,373
Expenses paid on behalf of WPT (305,845)
Depreciation and amortization 2,495,939 2,715,007
Impairment of investment in ESA 1,138,631
Deferred rent 268,574 (49,347)
Changes in operating assets and liabilities:    
Accounts receivable (36,021) 526,405
Prepaid expenses and other current assets (108,257) (50,148)
Deposits 7,963
Accounts payable (556,041) 264,945
Accrued expenses and other current liabilities 326,862 738,404
Accrued interest (146,894) (770,658)
Due to affiliates 697,551 4,229,090
Deferred revenue 297,086 219,263
Total Adjustments (75,872,154) 21,566,497
Net Cash Used In Operating Activities (7,846,316) (4,639,578)
Cash Flows From Investing Activities    
Cash consideration for sale of WPT 106,155,004
Return of Simon investment (3,650,000)
Investment in TV Azteca (1,500,000)
Purchases of property and equipment (141,923) (390,459)
Purchases of intangible assets (750)
Net Cash Provided By (Used in) Investing Activities 106,013,081 (5,541,209)
Cash Flows From Financing Activities    
Proceeds from PPP loans payable 907,129
Proceeds from convertible debt 9,000,000
Proceeds from disgorgement of short swing profit 21,875
Issuance costs paid in connection with convertible debt (766,961)
Repayments of convertible debt (7,000,000)
Repayments of bridge loans (3,421,096)
Proceeds from sale of common stock 7,000,000
Net Cash (Used In) Provided By Financing Activities (3,421,096) 9,162,043
Cash Flows From Discontinued Operations    
Operating activities 63,956 (1,885,111)
Investing activities (17,259) 875,698
Financing activities 685,300
Change in cash balance of discontinued operations 3,633,292 324,113
Cash sold in connection with sale of WPT (3,679,989)
Net Cash Provided By Discontinued Operations
Effect of Exchange Rate Changes on Cash 51,893 25,254
Net Increase (Decrease) In Cash And Restricted Cash 94,797,562 (993,490)
Cash and restricted cash - Beginning of period 5,424,223 6,927,417
Cash and restricted cash - End of period 100,221,785 5,933,927
Cash and restricted cash consisted of the following:    
Cash 95,221,785 933,927
Restricted cash 5,000,000 5,000,000
Total 100,221,785 5,933,927
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for interest 350,471 2,095,527
Non-Cash Investing and Financing Activities:    
Original issue discount on convertible debt 600,000
Beneficial conversion feature associated with convertible debt 523,636
Warrants issued with convertible debt 1,205,959
Guaranteed interest on convertible debt recorded as debt discount 1,536,000
Shares issued upon conversion of Bridge Note 5,000,000
Interest payable on Bridge Note converted to principal 1,421,096
Non-cash interest on convertible debt recorded as debt discount 1,664,000
Shares issued for redemption of debt and accrued interest 821,867 5,236,364
Forgiveness of amounts due to affiliate 9,370,261
Shares issued in satisfaction of employee bonus obligations $ 474,000