Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current Assets    
Cash and cash equivalents $ 7,319,765 $ 18,945,817
Accounts receivable 271,161 162,141
Gaming accounts receivable 2,418,492 1,455,710
Prepaid expenses 968,682 327,190
Related party receivable 1,413 1,519
Other current assets 403,972 301,289
Total Current Assets 11,383,485 21,193,666
Non - Current Assets    
Restricted cash 386,592 1,098,952
Property and equipment 490,079 489,591
Right of use assets 589,288 687,568
Intangible assets 15,557,561 10,257,582
Goodwill 16,164,337 1,663,120
Marketable securities 7,499 467,500
Total Non - Current Assets 33,195,356 14,664,313
Total Assets 44,578,841 35,857,979
Current Liabilities    
Bank overdraft 7,520 3,902
Line of credit - bank 500,000
Accounts payable and accrued liabilities 6,820,279 7,961,146
Gaming accounts payable 2,610,305 3,084,768
Taxes payable 47,787 946,858
Advances from stockholders 502 565
Deferred purchase consideration, net of discount of $0 and $7,761 17,673
Deferred purchase consideration - related parties, net of discount of $0 and $5,174 0 376,954
Promissory notes payable - related parties 51,878
Debentures 34,547
Operating lease liability 244,467 238,899
Financial lease liability 8,347 10,511
Bank loan payable - current portion 36,094 138,212
Total Current Liabilities 9,827,179 13,314,035
Non-Current Liabilities    
Contingent Purchase Consideration 12,859,399
Deferred tax liability 3,291,978 1,222,513
Operating lease liability 340,164 416,861
Financial lease liability 7,716 17,265
Bank loan payable 151,321 66,885
Other long-term liabilities 359,567 664,067
Total Non – Current Liabilities 17,010,145 2,387,591
Total Liabilities 26,837,324 15,701,626
Stockholders' Equity    
Preferred stock, $0.0001 par value; 5,000,000 shares authorized, none issued
Common stock, $0.0001 par value, 80,000,000 shares authorized; 23,363,732 and 20,029,834 shares issued and outstanding as of December 31, 2021 and 2020 2,336 2,003
Additional paid-in capital 66,233,292 53,064,919
Accumulated other comprehensive (loss) income (251,083) 267,948
Accumulated deficit (48,243,028) (33,178,517)
Total Stockholders' Equity 17,741,517 20,156,353
Total Liabilities and Stockholders’ Equity $ 44,578,841 $ 35,857,979