Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Statement of Cash Flows [Abstract]    
Net Loss $ (6,369,475) $ (3,380,929)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 892,232 460,320
Amortization of debt discount 12,833
Restricted stock awards 425,000 140,000
Stock option compensation expense 1,894,090 580,130
Non-cash interest 9,151 4,696
Change in fair value of contingent purchase consideration 915,774
Unrealized (gain) loss on trading securities (92,500) 92,500
Movement in deferred taxation (159,077) (46,720)
Gain on Government relief loan forgiven (8,017)
Changes in Operating Assets and Liabilities    
Prepaid expenses (1,024,859) (97,503)
Accounts payable and accrued liabilities (1,700,177) 158,239
Accounts receivable (132,614) (19,623)
Gaming accounts receivable 1,313,461 214,012
Gaming accounts liabilities 329,183 140,608
Taxes payable 153,526 238,917
Due from related parties 1,056 (1,974)
Other current assets (86,891) 66,449
Long term liability 42,300 (304,260)
Net Cash used in Operating Activities (3,589,820) (1,750,322)
Cash Flows from Investing Activities    
Acquisition of property, plant and equipment and intangible assets (229,075) (122,432)
Net Cash Used in Investing Activities (229,075) (122,432)
Cash Flows from Financing Activities    
Proceeds from warrants exercised 3,922,481
Proceeds from bank overdraft 1,053
Repayment of bank overdraft (7,233)
Repayment of bank credit line (500,000)
Repayment of bank loan (33,184) (67,336)
Redemption of convertible debentures (27,562)
Repayment of Government relief loan (24,050)
Repayment of deferred purchase consideration – non-related parties (410,383)
Proceeds from Subscriptions – Net of Fees 2,616,679
Proceeds from pre-funded warrants 512,758
Proceeds from related party promissory notes 260,000
Capital Finance Lease Repaid (4,038) (5,994)
Net Cash provided by Financing Activities 3,344,982 2,888,209
Effect of change in exchange rate (858,166) (506,503)
Net (decrease) increase in cash (1,332,079) 508,952
Cash, cash equivalents and restricted cash – beginning of the period 7,706,357 20,044,769
Cash, cash equivalents and restricted cash – end of the period 6,374,278 20,553,721
Reconciliation of cash, cash equivalents and restricted cash within the Balance Sheets to the Statement of Cash Flows    
Cash and cash equivalents 6,018,635 19,150,990
Restricted cash included in non-current assets 355,643 1,402,731
Supplemental disclosure of cash flow information    
Interest 4,898 17,528
Income tax 47,311 118,266
Supplemental cash flow disclosure for non-cash activities    
Common stock issued to settle liabilities $ 2,676,901