Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows from Operating Activities    
Net loss $ (357,046) $ (621,159)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 426,258 375,207
Amortization of deferred costs 72,460 163,350
Non-cash interest 170,236 400,668
Imputed interest on advances from stockholders 22,535 6,060
Changes in fair value of derivative liabilities (245,445) (291,121)
Impairment of assets 6,758
Stock issued for services 268,669
Bad debt 98,068 53,015
Changes in operating assets and liabilities    
Prepaid expenses (92,052) (138,198)
Accounts payable and accrued liabilities 163,655 (336,777)
Accounts receivable (66,191) 112,071
Gaming accounts receivable (459,436) (151,372)
Gaming account liabilities 66,983 24,052
Taxes payable 204,316 237,273
Other current assets 3,967 (199,909)
Other current liabilities (1,481)
Customer Deposits 118,037
Long term liability 13,811 20,907
Net cash provided by (used in) operating activities 146,914 (78,745)
Cash Flows from Investing Activities    
Acquisition of property, plant and equipment (140,551) (56,092)
Cash acquired on acquisition 803,482
Cash paid for acquisition (202,015)
Increase in restricted cash (44,499) (98,105)
Net cash provided by (used in) investing activities (185,050) 447,270
Cash Flows from Financing Activities    
Proceeds of bank credit line, net of repayment 317,165 (307,902)
Repayment of bank loan (80,208) 558,050
Proceeds from promissory notes, net of repayment 115,103
Proceeds from debenture and convertible notes, net of repayment 401,653 614,900
Advances from stockholders, net of repayment 24,695 141,721
Net cash provided by financing activities 663,305 1,121,872
Effect of change in exchange rate 327,959 30,911
Net increase (decrease) in cash 953,128 1,521,308
Cash - beginning of year 2,230,422 157,363
Cash - end of year 3,183,550 1,678,671
Supplemental disclosure of cash flow information:    
Cash paid during the year for: Interest 190,803 114,339
Cash paid during the year for: Income taxes 180,004 22,495
Supplemental cash flow disclosure for non-cash activities:    
Common shares issued for the acquisition of subsidiaries 2,360,163
Common shares issued to related parties for repayment of debt 138,225
Common shares issued for cashless exercise of warrants $ 14,438