v3.26.1
Consolidated Statements of Cash Flow (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income (loss) $ 2,168,157 $ (258,217)
Fair value of stock-based compensation 248,057 1,040,325
Non-cash interest expense related to debt discount amortization 75,670 952,546
Amortization of intangible assets 1,025,175 2,152,640
Depreciation of property, plant and equipment 1,435,955 1,436,247
Bad debt expense 102,176 73,208
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable 2,357,254 (897,968)
(Increase) decrease in accounts receivable - related party (39,250) 49,188
(Increase) decrease in taxes receivable 127,226 141,625
(Increase) decrease in prepaid expenses (15,305) (69,053)
(Increase) decrease in other current assets (106,021) 295,349
(Increase) decrease in inventories 597,556 (820,433)
(Increase) decrease in deposits (3,680) 145,038
(Increase) decrease in other non-current assets 14,369 22,962
Increase (decrease) in accounts payable and accrued liabilities (1,863,677) 4,122,296
Increase (decrease) in accounts payable - related party 142,627 210,082
Increase (decrease) in taxes payable (534,454) (880,465)
Increase (decrease) in deferred revenues (36,875) 31,180
Increase (decrease) in customer deposit (564,203) 60,944
Increase (decrease) in other current liabilities 108,107 122,138
Increase (decrease) in other liabilities (641,246) (310,649)
Increase (decrease) in operating lease liabilities 557,819 120,654
Net cash provided by operating activities 5,155,437 7,739,637
Cash flows from investing activities:    
Cash paid for intangible assets (1,405,432) (2,339,700)
Cash paid for investments 0 (7,373)
Proceeds from sale of property, plant and equipment 37,227 (1,107,424)
Cash paid for purchase of subsidiaries (806,390) (426,700)
Cash distribution to former owners of MeridianBet Group in connection with the Purchase (294,000) (1,459,642)
Net cash used in investing activities (2,468,595) (5,340,839)
Cash flows from financing activities:    
Repayment on debt (3,791,674) (4,428,626)
Repayment of lease (780,668) (571,438)
Payments of fractional shares (1,115) 0
Net cash used in financing activities (4,573,457) (5,000,064)
Effect of exchange rate changes on cash 42,756 2,137,248
Net increase in cash and cash equivalents (1,843,859) (464,018)
Cash and cash equivalents at beginning of year 18,078,300 30,125,944
Cash and cash equivalents at end of the quarter 16,234,441 29,661,926
Supplemental cash flows disclosures    
Interest paid 277,110 514,864
Tax paid 705,152 758,934
Non-cash financing activities    
Common stock issued for vested RSUs 0 9
Debt conversion 0 1,666,949
Acquisition of minority interest $ 0 $ 393,038