v3.21.1
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Statement of Cash Flows [Abstract]      
Net (Loss) Income $ (609,579) $ 157,609  
Adjustments to reconcile net (loss) income to net cash provided by operating activities      
Depreciation and amortization 226,703 226,968  
Amortization of debt discount 12,833 450,229  
Restricted stock awards 140,000  
Stock option compensation expense 288,968 118,818  
Non-cash interest 4,696 79,915  
Unrealized (gain) on trading securities (195,000) (130,000)  
Movement in deferred taxation (23,360) (23,360)  
Changes in Operating Assets and Liabilities      
Prepaid expenses 9,975 (527,184)  
Accounts payable and accrued liabilities (209,483) 602,633  
Accounts receivable (97,362) 28,867  
Gaming accounts receivable 160,652 611,616  
Gaming accounts liabilities 598,643 249,102  
Taxes payable 409,121 119,131  
Due from related parties (1,975) 49,417  
Other current assets 16,907 (37,538)  
Long term liability 4,137 (16,160)  
Net Cash Provided by Operating Activities 735,876 1,960,063  
Cash Flows from Investing Activities      
Acquisition of property, plant, and equipment and intangible assets (80,404) (51,293)  
Net Cash Used in Investing Activities (80,404) (51,293)  
Cash Flows from Financing Activities      
Proceeds from warrants exercised 3,909,981  
Proceeds from bank overdraft 1,053  
Repayment of bank credit line (500,000)  
Repayment of bank loan (57,176) (19,942)  
Redemption of convertible debentures (27,562) (8,996)  
Proceeds from promissory notes, related party 300,000  
Repayment of deferred purchase consideration (410,383) (355,337)  
Capital finance lease repaid (3,414) (3,024)  
Net Cash provided by (Used in) Financing Activities 2,912,500 (87,299)  
Effect of change in exchange rate (689,343) (185,635)  
Net increase in cash 2,878,629 1,635,836  
Cash, cash equivalents and restricted cash – beginning of the period 20,044,769 6,732,515 $ 6,732,515
Cash, cash equivalents and restricted cash – end of the period 22,923,398 8,368,351 20,044,769
Reconciliation of cash, cash equivalents and restricted cash within the Balance Sheets to the Statement of Cash Flows      
Cash and cash equivalents 21,524,648 6,828,398 $ 18,945,817
Restricted cash included in non-current assets 1,398,750 1,539,953  
Supplemental disclosure of cash flow information      
Cash paid during the period for: Interest 15,133 62,178  
Cash paid during the period for: Income tax 52,385 437,767  
Cash Flows from Operating Activities      
Conversion of convertible debt to common stock 395,253  
Deferred purchase consideration settled by the issuance of common stock 842,432  
Common stock issued to settle liabilities $ 2,676,901  

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