Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows From Operating Activities    
Net loss $ (3,751,197) $ (3,336,676)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Income from discontinued operations, net of tax provision (1,637,042)
Stock-based compensation 401,296 643,148
Digital currency received as revenue (177,946)
Change in fair value of warrant liabilities 1,300 36,300
Amortization of debt discount 3,646
Expenses paid on behalf on WPT (136,329)
Depreciation and amortization 808,612 881,959
Deferred rent (16,507) (14,076)
Changes in operating assets and liabilities:    
Accounts receivable (501,657) 207,921
Prepaid expenses and other current assets 180,703 286,932
Accounts payable 47,343 190,440
Accrued expenses and other current liabilities 658,810 235,544
Accrued interest 149,460
Due to affiliates 2,534,402
Deferred revenue 224,498 41,885
Total Adjustments 1,626,452 3,424,190
Net Cash (Used In) Provided By Operating Activities (2,124,745) 87,514
Cash Flows From Investing Activities    
Deposit for sale of WPT 10,000,000
Investment in digital assets (41,026)
Purchases of property and equipment (9,446) (10,203)
Net Cash (Used In) Provided By Investing Activities (50,472) 9,989,797
Cash Flows From Discontinued Operations    
Operating activities (974,601)
Investing activities 1,013,683
Financing activities (685,300)
Change in cash balance of discontinued operations 646,218
Net Cash Provided By Discontinued Operations
Effect of Exchange Rate Changes on Cash 16,723 41,482
Net (Decrease) Increase In Cash And Restricted Cash (2,158,494) 10,118,793
Cash and restricted cash - Beginning of period 97,887,030 5,424,222
Cash and restricted cash - End of period 95,728,536 15,543,015
Cash and restricted cash consisted of the following:    
Cash 90,728,536 10,543,015
Restricted cash 5,000,000 5,000,000
Total 95,728,536 15,543,015
Non-Cash Investing and Financing Activities:    
Shares issued for redemption of debt and accrued interest $ 821,867