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Consolidated Statements of Cash Flows
12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 10,099,619 $ (14,243,182)
Net income (loss) from discontinued operations, net of tax 14,573,262 (2,994,584)
Net loss from continuing operations (4,473,643) (11,248,598)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 12,102 107,414
Amortization of loan costs 0 10,714
Amortization of debt discount 71,781 459,148
Amortization of prepaid stock issued for services 0 129,000
Change in fair value (255,819) 1,230,234
Accrued interest on convertible debenture 0 299,648
Deferred tax expense (7,155) (6,206)
Stock-based compensation expense 148,524 261,373
Goodwill and Intangible Asset Impairment 0 2,464,732
Loss on disposal of equipment 0 12,607
Changes in assets and liabilities    
Accounts receivable 162,288 25,754
Other receivable (272,813) 0
Due from Rsports Interactive, Inc. (307) 0
Prepaid expenses and other current assets 73,115 (6,390)
Accounts payable and accrued expenses (1,314,126) 1,344,158
Net cash used in operating activities – continuing operations (5,856,053) (4,916,412)
Net cash (used in) provided by operating activities - discontinued operations (16,958,433) 5,499,299
Net cash used in operating activities (22,814,486) 582,887
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures for equipment (1,719) (12,147)
Proceeds from sale of intellectual property 150,000 0
Capital expenditures for internally developed software 0 (273,999)
Net cash provided by (used in) investing activities – continuing operations 148,281 (286,146)
Net cash used in investing activities - discontinued operations (18,857,834) (745,951)
Net cash used for investing activities (18,709,553) (1,032,097)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from convertible debenture and purchase warrants (4,148,571) 4,000,000
Principle and interest convertible debenture repayments 0 (419,048)
Proceeds from sale of common stock 869,275 0
Proceeds from line of credit 550,000 6,350,000
Repayment of line of credit (6,900,000) 0
Principal payments on long-term debt (2,070,479) (620,173)
Proceeds from exercise of warrants 159,892 0
Debt issuance fees 0 (7,500)
Net cash generated by (used in) financing activities – continuing operations (11,539,883) 9,303,279
Net cash (used in) generated by financing activities - discontinued operations (5,835,352) 481,575
Net cash generated by (used in) financing activities (17,375,235) 9,784,854
Net change in cash (58,899,274) 9,335,644
Cash and restricted cash, beginning of period including discontinued operations 60,441,130 51,105,486
Cash and restricted cash, end of period including discontinued operations 1,541,856 60,441,130
Less cash from discontinued operations (105,127) (57,953,649)
Cash, end of period 1,436,729 2,487,481
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest 485,531 485,531
Cash paid for taxes 504,755 86,320
NON-CASH INVESTING ACTIVITIES:    
Settlement agreement, liability issued for warrants (900,000) 0
Issuance of common stock in exchange of warrants 210,879 0
Deemed Dividend 44,619 48,633
Warrant exchange agreement, issuance of pre-funded warrants 287,150 0
Warrant exchange amendment, revalue of strike price and removal of repurchase requirement 152,386 0
Discount on convertible debenture and purchase warrant 0 1,574,229
Shares issued for cashless exercised warrants 0 24,296
Extension of maturity of operating lease liability 0 77,742
Series A-1 Preferred Stock [Member]    
NON-CASH INVESTING ACTIVITIES:    
Dividends on Series B preferred stock in Series A-1 preferred stock 0 1,861
Shares Issued for Services [Member]    
NON-CASH INVESTING ACTIVITIES:    
Shares issued 0 48,300
Shares Issued for Vested Restricted Stock [Member]    
NON-CASH INVESTING ACTIVITIES:    
Shares issued 449,360 0
Issuance of Reserved Stock [Member] | Sportshub Games Network [Member]    
NON-CASH INVESTING ACTIVITIES:    
Shares issued $ 0 $ 4,743