Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Statement of Cash Flows [Abstract]    
Net loss $ (1,149,651) $ (5,714,709)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 2,259 451
Amortization of intangibles 9,486 6,324
Gain (loss) on change in fair value of warrant assets   (55,000)
Gain (loss) on change in fair value of convertible notes receivable   (531,405)
Stock-based compensation 367,600 5,629,833
Changes in operating assets and liabilities:    
Accounts receivable 193,031 (248,338)
Prepaid expenses and other assets (349,434) (252,907)
Accounts payable and accrued liabilities 305,848 (1,395,154)
Contract liabilities 334,000 (4,792)
Net cash used in operating activities (286,861) (2,565,697)
Cash flows from investing activities:    
Cash acquired in reverse acquisition   5,441,437
Advances to shareholder   (199,549)
Purchase of convertible notes receivable - Alliance MMA   (215,000)
Purchase of fixed assets   (28,383)
Net cash provided by investing activities   4,998,505
Cash flows from financing activities:    
Proceeds from notes payable - related party   120,000
Proceeds from exercise of warrants   61,023
Proceeds from preferred stock placement   75,000
Net cash provided by financing activities   256,023
Net (decrease) increase in cash (286,861) 2,688,831
Cash, beginning of period 487,953 76,459
Cash, end of period 201,092 2,765,290
Supplemental disclosures of cash flow information:    
Cash paid for interest
Cash paid for income taxes
Non-cash investing and financing activities:    
Shares issued to a current and former employee $ 67
Issuance of warrant in settlement of vendor liability   66,275
Cashless exercise of warrant   4
Surrender of common stock in settlement of due from shareholder balance   1,608,833
Stock and warrant dividend   1,705,722
Warrants issued to company   19,000
Conversion of notes payable-related party and interest into Series A Convertible Preferred Stock   1,900,000
Issuance of preferred and common stock in connection with acquisition of Alliance MMA, net of cash   $ 6,424,054