SharpLink Gaming Ltd. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated statements of cash flows

In millions of USD, except per-share amounts

	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021	FY2020 12 months to Dec 31, 2020	FY2019 12 months to Dec 31, 2019	FY2018 12 months to Dec 31, 2018
Net loss from continuing operations
Net income (loss) from discontinued operations, net of tax
Net loss
Income (loss) from discontinued operations
Adjustments to reconcile net loss to net cash used for operating activities:
Impairment of goodwill
Depreciation and amortization
Amortization of loan costs
Amortization of prepaid stock issued for services
Deferred tax expense
Stock-based compensation
Decrease in accrued severance pay, net
Loan forgiveness income
Impairment expense
Stock-based compensation expense
Commitment fee expense
Gain on disposal of equipment
Goodwill and intangible asset impairment expenses
Write off of amounts related to acquisition of FourCubed
Advisory expenses in exchange for warrant
Changes in assets and liabilities
Accounts receivable
Contract asset
Contract assets
Prepaid expenses and other current assets
Decrease in trade payables
Other long-term assets
Accrued expenses and other current liabilities
Decrease in deferred revenues
Increase (decrease) in restricted cash
Net cash used in operating activities from continuing operations
Net cash provided by (used in) operating activities from discontinued operations
Other long-term liabilities
Contract liabilities
Net cash used for operating activities - continuing operations
Net cash used for operating activities - discontinued operations
Net cash used for operating activities
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures for equipment
Capital expenditures for internally developed software
Investment in Quintar
Proceeds from the sale of equipment
Cash and restricted cash acquired in SportsHub Gaming Network Merger
Payments relating to the acquisition of FourCubed
Net cash generated by/(used) for investing activities - continuing operations
Net cash generated by (used) for investing activities - discontinued operations
Net cash generated by/(used) for investing activities
CASH FLOWS FROM FINANCING ACTIVITIES:
Collection of stock subscription
Proceeds from debt
Repayments of debt
Payments of debt issue costs
Net advances to and proceeds from Affiliate
Proceeds from issuance of Series B preferred stock
Proceeds from issuance of ordinary shares, prefunded warrants and regular warrants, net of issuance costs
Proceeds from the exercise of stock options
Distributions to Affiliate
Series A preferred stock and commitment fee issuance, net of issuance costs
Proceeds from PPP loan
Proceeds for prepaid stock issuance
Repayment for prepaid stock issuance
Ordinary share issuance
Convertible notes issuance
Principal payments on convertible notes
Net cash generated by financing activities - continuing operations
Net cash generated by financing activities - discontinued operations
Net cash generated by financing activities

Increase (decrease) in cash and cash equivalents
Increase (decrease) in cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at the beginning of the year
Cash, cash equivalents and restricted cash at the end of the year
Net change in cash and restricted cash
Cash and restricted cash, beginning of year
Less cash from discontinued operations
Cash and restricted cash, end of year
Cash
Restricted cash
Cash included in current assets from discontinued operations
Total cash and restricted cash
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest
Cash paid for taxes
Series A preferred stock discount accretion
Series A preferred stock dividend accretion
Dividends on Series A preferred stock in ordinary shares
Issuance of Series A-1 preferred stock in exchange for Series A preferred stock
Issuance of Series A-1 preferred stock in exchange for commitment fee
Issuance of Series B preferred stock in exchange for commitment fee
Dividends on Series B preferred stock in Series A-1 preferred stock
Conversion of Series A-1 preferred stock into ordinary shares
Conversion of Series B preferred stock into ordinary shares
Ordinary shares issued on subscription
Conversion of convertible notes into common stock
Common stock issued on subscription
Issuance of ordinary shares in MTS Merger
Issuance of ordinary shares in FourCubed Acquisition
Issuance of ordinary shares in SportsHub Gaming Network Merger
Issuance of ordinary shares for advisory services
Consideration due for FourCubed Acquisition
NON-CASH FINANCING ACTIVITIES:
Series A Preferred Stock discount accretion
Series A Preferred Stock dividend accretion
Dividends on Series A Preferred Stock in common stock
Issuance of Series A-1 preferred stock in ordinary shares
Issuance of Series A-1 preferred stock in exchange for commitment fee
Issuance of Series B preferred stock in exchange for commitment fee
Dividends on Series B preferred stock in Series A-1 preferred stock
Conversion of Series A-1 preferred stock into ordinary shares
Conversion of Series B preferred stock into ordinary shares
Dividend due to forgiveness of MTS intercompany loan

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