v3.21.2
Consolidated Statements of Cash Flows - USD ($)
6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Statement of Cash Flows [Abstract]      
Net Loss $ (3,380,929) $ (2,367,946)  
Adjustments to reconcile net loss to net cash (Used in) Provided by Operating Activities      
Depreciation and amortization 460,320 459,434  
Amortization of debt discount 12,833 737,074  
Restricted stock awards 140,000  
Stock option compensation expense 580,130 198,789  
Non-cash interest 4,696 152,188  
Loss on extinguishment of convertible debt 719,390  
Unrealized loss (gain) on trading securities 92,500 (722,500)  
Movement in deferred taxation (46,720) (46,720)  
Gain on Government relief loan forgiven (8,017)  
Changes in Operating Assets and Liabilities      
Prepaid expenses (97,503) 6,435  
Accounts payable and accrued liabilities 158,239 2,141,717  
Accounts receivable (19,623) (1,205)  
Gaming accounts receivable 214,012 334,186  
Gaming accounts liabilities 140,608 (956,208)  
Taxes payable 238,917 253,275  
Due from related parties (1,974) 12,956  
Other current assets 66,449 (51,340)  
Long term liabilities (304,260) (1,948)  
Net Cash (Used in) Provided by Operating Activities (1,750,322) 867,577  
Cash Flows from Investing Activities      
Acquisition of property, plant and equipment and intangible assets (122,432) (87,994)  
Net Cash Used in Investing Activities (122,432) (87,994)  
Cash Flows from Financing Activities      
Proceeds from warrants exercised 3,922,481  
Proceeds from bank overdraft 1,053  
Repayment of bank credit line (500,000)  
Repayment of bank loan (67,336) (19,925)  
Redemption of convertible debentures (27,562) (8,996)  
Proceeds from promissory notes, related party 300,000  
Proceeds from Government relief loan 29,302  
Repayment of Government relief loan (24,050)  
Repayment of deferred purchase consideration – non-related parties (410,383) (209,005)  
Repayment of deferred purchase consideration – related parties (92,444)  
Repayment of financial leases (5,994) (6,682)  
Net Cash Provided by (Used in) Financing Activities 2,888,209 (7,750)  
Effect of change in exchange rate (506,503) (170,608)  
Net increase in cash 508,952 601,225  
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 20,553,721 7,333,740 $ 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 19,150,990 5,783,449  
Restricted cash included in non-current assets 1,402,731 1,550,291  
Supplemental disclosure of cash flow information      
Interest 17,528 23,613  
Income tax 118,266 378,471  
Supplemental cash flow disclosure for non-cash activities      
Conversion of convertible debt to common stock 728,338  
Deferred purchase consideration settled by the issuance of common stock 1,116,179  
Common stock issued to settle liabilities $ 2,676,901  

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