Post-effective amendment to a registration statement that is not immediately effective upon filing

Segmental Reporting (Tables)

v3.21.1
Segmental Reporting (Tables)
 3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Segment reporting
    March 31, 2021
    Betting establishments   Betting platform software and services   All other   Total
                 
Purchase of non-current assets   $ 2,081     $ 44,157     $ 34,166     $ 80,404  
Assets                                
Current assets     12,300,829       822,379       10,479,298       23,602,506  
Non-current assets     7,081,460       6,169,034       1,658,077       14,908,571  
Liabilities                                
Current liabilities     (8,675,683 )     (698,241 )     (661,593 )     (10,035,517 )
Non-current liabilities     (1,055,027 )     (1,201,997 )     —         (2,257,024 )
Intercompany balances     4,273,141       (318,375 )     (3,954,766 )     —    
Net asset position   $ 13,924,720     $ 4,772,800     $ 7,521,016     $ 26,218,536  

 

The segment operating results of the reportable segments are disclosed as follows:

 

    March 31, 2021
    Betting establishments   Betting platform software and services   All other   Adjustments   Total
Net Gaming Revenue   $ 14,065,599     $ 91,729     $ —       $ —       $ 14,157,328  
Intercompany Service revenue     97,624       802,112       —         (899,736 )     —    
      14,163,223       893,841       —         (899,736 )     14,157,328  
                                         
Operating expenses                                        
Intercompany service expense     802,112       97,624       —         (899,736 )     —    
Selling expenses     10,657,764       4,051       —         —         10,661,815  
General and administrative expenses     1,687,969       1,264,188       1,193,053       —         4,145,210  
      13,147,845       1,365,863       1,193,053       (899,736 )     14,807,025  
                                         
Income (Loss) from operations     1,015,378       (472,022 )     (1,193,053 )     —         (649,697 )
                                         
Other (expense) income                                        
Interest expense, net     (2,692 )     (3 )     (5,154 )     —         (7,849 )
Amortization of debt discount     —         —         (12,833 )     —         (12,833 )
Other income     280,882       462       —         —         281,344  
Other expense     (24,118 )     (2.812 )     —         —         (26,930 )
Gain on marketable securities     —         —         195,000       —         195,000  
Total other (expenses) income     254,072       (2,353 )     177,013       —         428,732  
                                         
(Loss) Income before Income Taxes     1,269,450       (474,375 )     (1,016,040 )     —         (220,965 )
Income tax provision     (393,410 )     4,796       —         —         (388,614 )
Net (Loss) Income   $ 876,040     $ (469,579 )   $ (1,016,040 )   $ —       $ (609,579 )

 

The operating assets and liabilities of the reportable segments are as follows:

 

    March 31, 2020
    Betting establishments   Betting platform software and services   All other   Total
                 
Purchase of non-current assets   $ 28,758     $ 22,534     $ —       $ 51,293  
Assets                                
Current assets     7,928,294       365,476       359,852       8,653,622  
Non-current assets     12,633,088       6,514,244       1,279,174       20,426,506  
Liabilities                                
Current liabilities     (5,911,483 )     (503,558 )     (9,918,078 )     (16,333,119 )
Non-current liabilities     (1,227,525 )     (1,316,117 )     —         (2,543,642 )
Intercompany balances     6,130,287       227,718       (6,358,005 )     —    
Net asset position   $ 19,552,661     $ 5,287,763     $ (14,637,057 )   $ 10,203,367  

 

The segment operating results of the reportable segments are disclosed as follows:

 

    March 31, 2020
    Betting establishments   Betting platform software and services   All other   Adjustments   Total
Net Gaming Revenue   $ 10,160,370     $ 9,804     $ —       $ —       $ 10,170,174  
Intercompany Service revenue     25,090       799,714       —         (824,804 )     —    
      10,185,460       809,518       —         (824,804 )     10,170,174  
                                         
Operating expenses                                        
Intercompany service expense     799,714       25,090       —         (824,804 )     —    
Selling expenses     6,210,347       553,897       —         —         6,764,244  
General and administrative expenses     1,245,510       444,538       581,830       —         2,271,878  
      8,255,571       1,023,525       581,830       (824,804 )     9,036,122  
                                         
Income (Loss) from operations     1,929,889       (214,007 )     (581,830 )     —         1,134,052  
                                         
Other (expense) income                                        
Interest expense, net     (49,349 )     3       (90,628 )     —         (139,974 )
Amortization of debt discount     —         —         (450,229 )     —         (450,229 )
Gain on marketable securities     —         —         130,000       —         130,000  
Other income     11,798       —         —         —         11,798  
Total other (expenses) income     (37,551 )     3       (410,857 )     —         (448,405 )
                                         
Income (Loss) before Income Taxes     1,892,338       (214,004 )     (992,687 )     —         685,647  
Income tax provision     (545,868 )     (5,530 )     23,360       —         (528,038 )
Net Income (Loss)   $ 1,346,470     $ (219,534 )   $ (969,327 )   $ —       $ 157,609