| SCHEDULE OF SEGMENT REPORTING INFORMATION |
Segment
information available with respect to these reportable business segments was as follows:
| | |
Three Months Ended June 30, | | |
Six Months Ended June 30, | |
| | |
2023 | | |
2022 | | |
2023 | | |
2022 | |
| Revenues: | |
| | |
| | |
| | |
| |
| Gaming | |
$ | 1,739,096 | | |
$ | 1,941,938 | | |
$ | 3,178,313 | | |
$ | 4,900,326 | |
| Esports | |
| 34 | | |
| 67,049 | | |
| 290,172 | | |
| 430,450 | |
| Total Revenues | |
$ | 1,739,130 | | |
$ | 2,008,987 | | |
$ | 3,468,485 | | |
$ | 5,330,776 | |
| | |
| | | |
| | | |
| | | |
| | |
| Cost of Revenues: | |
| | | |
| | | |
| | | |
| | |
| Gaming | |
$ | 865,309 | | |
$ | 820,737 | | |
$ | 1,740,148 | | |
$ | 2,224,744 | |
| Esports | |
| 858 | | |
| 35,420 | | |
| 374,755 | | |
| 645,219 | |
| Total Cost of Revenues | |
$ | 866,167 | | |
$ | 856,157 | | |
$ | 2,114,903 | | |
$ | 2,869,963 | |
| | |
| | | |
| | | |
| | | |
| | |
| Gross Profit (Loss): | |
| | | |
| | | |
| | | |
| | |
| Gaming | |
$ | 873,787 | | |
$ | 1,121,201 | | |
$ | 1,438,165 | | |
$ | 2,675,582 | |
| Esports | |
| (824 | ) | |
| 31,629 | | |
| (84,583 | ) | |
| (214,769 | ) |
| Total Gross Profit | |
$ | 872,963 | | |
$ | 1,152,830 | | |
$ | 1,353,582 | | |
$ | 2,460,813 | |
| | |
| | | |
| | | |
| | | |
| | |
| Loss From Operations: | |
| | | |
| | | |
| | | |
| | |
| Gaming | |
$ | (8,559,203 | ) | |
$ | (6,393,338 | ) | |
$ | (13,664,576 | ) | |
$ | (21,437,759 | ) |
| Esports | |
| (54,104 | ) | |
| (292,077 | ) | |
| (360,120 | ) | |
| (851,006 | ) |
| Total Loss From Operations | |
$ | (8,613,307 | ) | |
$ | (6,685,415 | ) | |
$ | (14,024,696 | ) | |
$ | (22,288,765 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| Depreciation and Amortization: | |
| | | |
| | | |
| | | |
| | |
| Gaming | |
$ | 92,497 | | |
$ | 109,656 | | |
$ | 177,615 | | |
$ | 217,139 | |
| Esports | |
| 12,357 | | |
| 8,069 | | |
| 24,593 | | |
| 16,657 | |
| Total Depreciation and Amortization | |
$ | 104,854 | | |
$ | 117,725 | | |
$ | 202,208 | | |
$ | 233,796 | |
| | |
| | | |
| | | |
| | | |
| | |
| Interest Expense, net: | |
| | | |
| | | |
| | | |
| | |
| Gaming | |
$ | (244,750 | ) | |
$ | (191,662 | ) | |
$ | (443,870 | ) | |
$ | (393,258 | ) |
| Esports | |
| - | | |
| - | | |
| - | | |
| - | |
| Total Interest Expense, net | |
$ | (244,750 | ) | |
$ | (191,662 | ) | |
$ | (443,870 | ) | |
$ | (393,258 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| Other Income (Expense), net: | |
| | | |
| | | |
| | | |
| | |
| Gaming | |
$ | 664,264 | | |
$ | (610,481 | ) | |
$ | 1,032,508 | | |
$ | (767,605 | ) |
| Esports | |
| (7,089 | ) | |
| (113 | ) | |
| (24,016 | ) | |
| (5,088 | ) |
| Total Other Income (Expense), net | |
$ | 657,175 | | |
$ | (610,594 | ) | |
$ | 1,008,492 | | |
$ | (772,693 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| Net Loss: | |
| | | |
| | | |
| | | |
| | |
| Gaming | |
$ | (8,139,689 | ) | |
$ | (7,195,481 | ) | |
$ | (13,075,938 | ) | |
$ | (22,598,621 | ) |
| Esports | |
| (61,193 | ) | |
| (292,190 | ) | |
| (384,136 | ) | |
| (856,095 | ) |
| Total Net Loss | |
$ | (8,200,882 | ) | |
$ | (7,487,671 | ) | |
$ | (13,460,074 | ) | |
$ | (23,454,716 | ) |
| | |
June 30, 2023 | | |
December 31, 2022 | |
| Total Assets: | |
| | | |
| | |
| Gaming | |
$ | 11,104,297 | | |
$ | 16,315,359 | |
| Esports | |
| 2,231,942 | | |
| 2,582,433 | |
| Total Assets | |
$ | 13,336,239 | | |
$ | 18,897,792 | |
|