Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (11,978,563) $ (4,159,394)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation of fixed assets 149,583 12,950
Impairment of intangible assets and goodwill 3,328,781 0
Amortization of acquired intangibles 680,535 384,487
Stock-based compensation 943,998 2,645,573
Deferred income taxes 680,443 (755,647)
Changes in operating assets and liabilities:    
Accounts receivable (185,157) 28,251
Prepaid and other assets 63,602 (130,749)
Deferred offering cost 0 25,000
Accounts payable and accrued liabilities 746,136 (68,615)
Net cash used in operating activities (5,570,642) (2,018,144)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of Victory Fighting Championship (180,000) 0
Purchase of Fight Club OC (48,900) 0
Purchase of National Fighting Championship (140,000) 0
Purchase of Fight Time Promotions (84,000) 0
Purchase of SuckerPunch (357,500) 0
Purchase of Sheffield Video Library (25,000) 0
Purchase of Iron Tiger Fight Series 0 (148,284)
Purchase of CFFC, HFC, Shogun, V3, Cagetix, GFL, Hoss and Louis Neglia assets 0 (1,521,236)
Purchase of Alliance MMA brand 0 (70,000)
Purchase of fixed assets (236,734) (111,601)
Net cash used in investing activities (1,072,134) (1,851,121)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock 2,012,500 0
Proceeds from note payable 300,000 0
Proceeds from note payable - related party 0 523,550
Repayments of note payable - related party 0 (877,000)
Net proceeds from IPO 0 8,901,188
Net cash provided by financing activities 2,312,500 8,547,738
NET (DECREASE)/INCREASE IN CASH (4,330,276) 4,678,473
CASH - BEGINNING OF PERIOD 4,678,473 0
CASH - END OF PERIOD 348,197 4,678,473
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest 0 34,014
Cash paid for taxes 0 0
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Stock issued in conjunction with acquisition of Victory Fighting Championship 642,938 0
Stock issued in conjunction with acquisition of Fight Club OC 810,810 0
Stock issued in conjunction with acquisition of National Fighting Championships 366,227 0
Stock issued in conjunction with acquisition of Fight Time Promotions 287,468 0
Stock issued in conjunction with acquisition of SuckerPunch 1,328,847 0
Stock issued in conjunction with acquisition of Sheffield Video Library 8,500 0
Stock issued in conjunction with Iron Tiger Fight Series 0 506,665
Stock issued in conjunction with acquisition of CFFC, HFC, COGA, Shogun, V3, Cagetix, and GFL $ 0 $ 6,198,889