v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (22,952,087) $ (14,921,110)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount 1,842,003 1,532,792
Depreciation and amortization expense 717,733 195,666
Amortization of content assets 2,091,876 933,036
Amortization of right-of-use assets 76,696 118,719
Bad debt expense   20,000
Gain on extinguishment of debt   (490,051)
Loss on early extinguishment of convertible debt   944,614
Change in fair value of derivative   (164,708)
Stock-based compensation 6,858,983 4,202,286
Stock option exercise 38,410  
Warrants issued in conjunction with debt 136,103  
Payment in kind for interest stock issuance   177,000
Change in operating assets and liabilities:    
Accounts receivable 7,090,558 (10,049,799)
Prepaid income tax   (1,842)
Inventory 4,397 210,494
Prepaid expenses 78,632 (741,364)
Deposit (147) (29,590)
Accounts payable (2,605,012) 2,558,353
Accrued liabilities (2,899,246) 5,269,758
Accrued royalties and revenue share (748,226) 2,683,245
Licensed content liability (4,132,894) (1,109,750)
Operating lease liabilities (75,529) (123,453)
Deferred income (140,764) (47,252)
NET CASH USED IN OPERATING ACTIVITIES (14,618,514) (8,832,956)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property and equipment (1,483,498) (956,889)
NET CASH USED IN INVESTING ACTIVITIES (1,483,498) (956,889)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock 8,318,110 1,250,000
Proceeds from issuance of convertible debt   2,079,993
Proceeds from non-revolving line of credit   6,222,986
Proceeds from line of credit 37,974,347  
Payments on line of credit (36,262,546)  
Debt issuance costs (538,381)  
Common stock issuance cost (179,380)  
Deferred offering costs (646,840) (500,092)
Payment of acquisition related consideration (250,125)  
Repayment of convertible debt   (2,715,865)
Short swing profit recovery (1,201)  
NET CASH PROVIDED BY FINANCING ACTIVITIES 8,416,386 6,337,022
Change in cash and cash equivalents (7,685,626) (3,452,823)
Cash, beginning of period 14,071,914 4,162,548
Cash, end of period 6,386,288 709,725
SUPPLEMENTAL DISCLOSURES OF CASH FLOW STATEMENTS    
Cash paid for interest 945,939 153,009
Cash paid for income taxes 1,624 1,051
SUPPLEMENTAL DISCLOSURES OF NON CASH INVESTING AND FINANCING ACTIVITIES    
Payment in kind common stock payment   177,000
Loss on early extinguishment of convertible debt   944,614
Warrants issued in conjunction with debt 136,103  
Warrants issued in conjunction with debt 136,103 3,036,970
Beneficial conversion feature recorded as discounted debt   2,079,993
Unpaid deferred offering costs 157,731 $ 40,017
Unpaid additions to property and equipment $ 412,256  

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