v3.22.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (5,259,439) $ (4,273,995)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount 661,335 358,248
Depreciation and amortization expense 187,716 32,403
Amortization of license content assets 682,167 311,055
Amortization of right-of-use assets 42,779 38,555
Bad debt expense   20,000
Gain on extinguishment of debt, net   (490,051)
Change in fair value of derivative   (98,745)
Stock-based compensation 1,790,807 1,549,406
Change in operating assets and liabilities:    
Accounts receivable (2,883,253) (1,373,259)
Prepaid income tax   (1,842)
Inventory 12,091 108,325
Prepaid expenses 251,644 (70,555)
Deposit   (29,590)
Accounts payable (1,375,043) 317,686
Accrued liabilities (2,331,374) 713,534
Accrued royalties 3,860,199 44,193
License content liability (2,420,129) (581,000)
Operating lease liabilities (45,104) (39,349)
Deferred income 2,375 (12,782)
NET CASH USED IN OPERATING ACTIVITIES (6,823,229) (3,477,763)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property and equipment (618,032)  
NET CASH USED IN INVESTING ACTIVITIES (618,032)  
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock   1,250,000
Proceeds from non-revolving line of credit, net of repayments 1,429,441  
Deferred issuance costs (301)  
Deferred offering costs (56,024)  
Payment of acquisition related consideration 250,125  
Repayment of stockholder loans   (272,687)
NET CASH PROVIDED BY FINANCING ACTIVITIES 1,122,991 977,313
Change in cash and cash equivalents (6,318,270) (2,500,450)
Cash, beginning of period 14,071,914 4,162,548
Cash, end of period 7,753,644 1,662,098
SUPPLEMENTAL DISCLOSURES OF CASH FLOW STATEMENTS    
Cash paid for interest 508,118 43,130
Cash paid for income taxes 1,230 $ 251
SUPPLEMENTAL DISCLOSURES OF NON CASH INVESTING AND FINANCING ACTIVITIES    
Unpaid deferred offering costs 12,808  
Unpaid additions to property and equipment 280,950  
Investment in licensed content and internally developed content $ 2,756,420  

Source