XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 272,081 $ (1,132,420)
Adjustments to reconcile net income (loss) to net cash used in operating activities    
Amortization of intangible assets 18,480 192,000
Fair value of vested options 101,000  
Fair value of common stock issued for services 1,114,860
Fair value of common stock issued for employees 173,535
Gain on legal settlement (69,000)
Gain on forgiveness of government assistance note payable (1,025,535) (648,265)
Change in right of use assets 26,927 27,863
Changes in operating assets and liabilities:    
Accounts receivable (3,949) 19,218
Prepaid expenses and other current assets (43,227) (20,151)
Accounts payable 117,426 193,949
Accrued expenses 13,080 (32,536)
Deferred revenue (10,608)
Accrued interest payable 26,593 28,719
Accrued payroll and advances – related party 31,250
Operating lease liability (28,159) (22,646)
Net cash used in operating activities (431,356) (248,159)
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash acquired on GameIQ acquisition 12,805
Net cash provided by financing activities 12,805
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayment of bridge note payable (75,000)
Repayment of convertible notes payable (400,000)
Repayment of acquisition obligation (18,414)
Proceeds from notes payable – government assistance loans 1,026,000
Proceeds from public offering 362,000
Net cash provided by financing activities 894,586
Net increase (decrease) in cash and cash equivalents (418,551) 646,427
Cash and cash equivalents beginning of period 1,930,325 600,576
Cash and cash equivalents end of period 1,511,774 1,247,003
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest paid
Taxes paid
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Goodwill and intangible assets acquired from acquisition of GameIQ 443,509
Fair value of common shares issued on acquisition of GameIQ 300,000
Notes payable issued from acquisition of GameIQ 140,914
Government assistance notes payable and accrued interest assumed on acquisition of GameIQ $ 15,400