Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows from Operating Activities    
Net loss $ (1,279,123) $ (357,046)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 500,391 426,258
Amortization of deferred costs 58,188 72,460
Non-cash interest 1,193,434 170,236
Loss on issuance of debt 217,140
Imputed interest on advances from stockholders 1,514 22,535
Changes in fair value of derivative liabilities (245,445)
Unrealized loss on trading securities 157,500
Impairment (recovery) of assets (516,120) 6,758
Bad debt expense 6,354 98,068
Changes in operating assets and liabilities    
Prepaid expenses (180,651) (92,052)
Accounts payable and accrued liabilities 1,776,266 163,655
Accounts receivable 98,823 (66,191)
Gaming accounts receivable (108,033) (459,436)
Gaming account liabilities (242,907) 66,983
Taxes payable (547,618) 204,316
Other current assets (94,764) 3,967
Customer Deposits   118,037
Long term liability 72,480 13,811
Net Cash Provided by (Used in) Operating Activities 1,112,874 146,914
Cash Flows from Investing Activities    
Acquisition of property, plant, and equipment, and intangible assets (4,487,456) (140,551)
Increase in restricted cash (980,427) (44,499)
Net Cash Used in Investing Activities (5,467,883) (185,050)
Cash Flows from Financing Activities    
Proceeds from bank credit line 500,000 317,165
Repayment of bank credit line (177,060)  
Repayment of bank loan (93,532) (80,208)
Proceeds from debentures and convertible notes, net of repayment 6,883,906 401,653
Advance to related party (190,509)  
Purchase of treasury stock (2,261,307)  
Advances from stockholders, net of repayment (406,142) 24,695
Net Cash Provided by (Used in) Financing Activities 4,255,356 663,305
Effect of change in exchange rate (561,516) 327,959
Net increase (decrease) in cash (661,169) 953,128
Cash - beginning of year 6,469,858 2,230,422
Cash - end of year 5,808,689 3,183,550
Supplemental disclosure of cash flow information:    
Cash paid during the year for: Interest 20,321 190,803
Cash paid during the year for: Income taxes 1,593,645 $ 180,004
Supplemental cash flow disclosure for non-cash activities:    
Common shares issued for the acquisition of intangible 5,588,008  
Common stock issued with debt 582,486  
Discount due to warrants issued with debt 2,307,569  
Discount due to beneficial conversion feature 2,585,569  
Discount due to broker warrants issued with debt 643,860  
Reclassification of derivative liabilities to equity and cumulative effect of adoption of ASU $ 222,915