Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows From Operating Activities
Net loss $ (7,440,148) $ (6,276,756)
Adjustments to reconcile net loss to net cash used in operating activities:
Income from discontinued operations, net of tax provision (3,030,453)
Stock-based compensation 554,389 1,030,142
Digital currency received as revenue (228,245)
Impairment of digital assets 164,411
Expenses paid using digital assets 41,026
Change in fair value of warrant liabilities 66,800 11,000
Amortization of debt discount 3,646
Expenses paid on behalf on WPT (136,329)
Non-cash interest expense 46,110
Depreciation and amortization 1,616,845 1,689,802
Deferred rent (108,013) 173,661
Changes in operating assets and liabilities:
Accounts receivable 205,127 (86,219)
Prepaid expenses and other current assets 417,025 578,408
Accounts payable (188,122) (55,095)
Accrued expenses and other current liabilities (2,021,368) 387,352
Accrued interest 207,848
Due to affiliates 2,618,212
Deferred revenue 571,462 146,459
Total Adjustments 1,091,337 3,584,544
Net Cash Used In Operating Activities (6,348,811) (2,692,212)
Cash Flows From Investing Activities
Deposit for sale of WPT 10,000,000
Investment in digital assets (41,026)
Purchases of property and equipment (2,724) (116,058)
Net Cash (Used In) Provided By Investing Activities (43,750) 9,883,942
Cash Flows From Discontinued Operations
Operating activities 511,577
Investing activities (17,260)
Change in cash balance of discontinued operations (494,317)
Net Cash Provided By Discontinued Operations
Effect of Exchange Rate Changes on Cash (43,365) 74,038
Net (Decrease) Increase In Cash And Restricted Cash (6,435,926) 7,265,768
Cash and restricted cash - Beginning of period 97,887,030 5,424,223
Cash and restricted cash - End of period 91,451,104 12,689,991
Cash and restricted cash consisted of the following:
Cash 86,451,104 7,689,991
Restricted cash 5,000,000 5,000,000
Total 91,451,104 12,689,991
Non-Cash Investing and Financing Activities:
Shares issued for redemption of debt and accrued interest $ 821,867