$GXAI
GAXOS.AI INC.

2023 Q2 Form 10-Q Financial Statement

#000121390023038981 Filed on May 12, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $448.6K $77.50K $157.7K
YoY Change 97.42% -50.86%
% of Gross Profit
Research & Development $267.6K $104.6K $150.5K
YoY Change 12.74% -30.53%
% of Gross Profit
Depreciation & Amortization $6.290K $3.140K
YoY Change
% of Gross Profit
Operating Expenses $768.6K $1.542M $308.2K
YoY Change 65.43% 400.42%
Operating Profit -$768.6K -$1.542M -$308.2K
YoY Change 65.43% 400.42%
Interest Expense $14.56K $6.300K $370.00
YoY Change 2700.0% 1602.7%
% of Operating Profit
Other Income/Expense, Net $14.56K $6.301K $371.00
YoY Change 2715.67% 1598.38%
Pretax Income -$754.0K -$1.536M -$307.8K
YoY Change 62.48% 398.97%
Income Tax
% Of Pretax Income
Net Earnings -$754.0K -$1.536M -$307.8K
YoY Change 62.48% 398.97%
Net Earnings / Revenue
Basic Earnings Per Share -$0.06 -$0.14 -$0.03
Diluted Earnings Per Share -$0.06 -$0.14 -$0.03
COMMON SHARES
Basic Shares Outstanding 12.10M shares 12.10M shares 10.42M shares
Diluted Shares Outstanding 12.10M shares 11.26M shares 10.42M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.218M $5.723M $1.849M
YoY Change 277.49% 209.48%
Cash & Equivalents $1.689M $2.213M $1.849M
Short-Term Investments $3.529M $3.509M
Other Short-Term Assets $116.6K $165.5K $88.59K
YoY Change -22.4% 86.84%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $5.335M $5.888M $1.938M
YoY Change 248.09% 203.87%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $0.00 $55.51K
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $55.51K $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $5.335M $5.888M $1.938M
Total Long-Term Assets $0.00 $55.51K $0.00
Total Assets $5.335M $5.944M $1.938M
YoY Change 248.09% 206.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $182.4K $125.6K $125.5K
YoY Change -3.73% 0.08%
Accrued Expenses $94.55K $23.66K $13.10K
YoY Change 1070.16% 80.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $277.0K $149.3K $138.6K
YoY Change 40.2% 7.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $277.0K $149.3K $138.6K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $277.0K $149.3K $138.6K
YoY Change 40.2% 7.69%
SHAREHOLDERS EQUITY
Retained Earnings -$3.724M -$2.969M
YoY Change
Common Stock $1.207K $1.210K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.058M $5.794M $1.799M
YoY Change
Total Liabilities & Shareholders Equity $5.335M $5.944M $1.938M
YoY Change 248.09% 206.74%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$754.0K -$1.536M -$307.8K
YoY Change 62.48% 398.97%
Depreciation, Depletion And Amortization $6.290K $3.140K
YoY Change
Cash From Operating Activities -$1.434M -$933.9K -$185.4K
YoY Change 256.57% 403.67%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$3.491M -$3.491M
YoY Change
Cash From Investing Activities -$3.491M -$3.491M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.934M $5.958M -43.64K
YoY Change -9270.5% -13753.69%
NET CHANGE
Cash From Operating Activities -1.434M -$933.9K -185.4K
Cash From Investing Activities -3.491M -$3.491M
Cash From Financing Activities 5.934M $5.958M -43.64K
Net Change In Cash 1.009M $1.533M -229.1K
YoY Change -316.16% -769.45%
FREE CASH FLOW
Cash From Operating Activities -$1.434M -$933.9K -$185.4K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>NOTE 1 – <span style="text-decoration:underline">NATURE OF OPERATIONS</span></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The NFT Gaming Company, Inc. (the “Company”) was incorporated in the state of Wyoming on October 27, 2021 (“Inception”). The Company develops, designs, acquires, and manages games that offer affordable non-fungible tokens (NFTs) for unique and exclusive features, rewards, and opportunities. In addition to developing proprietary games, the Company’s platform will onboard third-party game publishers and provide access to blockchain and NFT architecture, product experiences, exclusive content, and revenue opportunities.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 29, 2022, the Board of Directors of the Company approved, subject to shareholder approval, a Plan of Conversion, pursuant to which the Company will convert from a corporation incorporated under the laws of the State of Wyoming to a corporation incorporated under the laws of the State of Delaware (the “Reincorporation”), and such approval includes the adoption of the Certificate of Incorporation (the “Delaware Certificate”) and the Bylaws (the “Delaware Bylaws”) for the Company under the laws of the State of Delaware, under the name, “The NFT Gaming Company, Inc.,” to become effective with the effectiveness of the Reincorporation. On March 29, 2022, we received majority shareholder approval. On March 30, 2022, the Company completed the Reincorporation by filing the Delaware Certificate with the State of Delaware.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 7, 2022, a majority of the Company shareholders granted discretionary authority to the Company’s Board of Directors to amend the Company’s Certificate of Incorporation to effect one or more consolidations of the Company’s issued and outstanding shares of common stock, pursuant to which the shares of common stock would be combined and reclassified into on the basis of one share of common stock for each 1.33 shares of the Company’s common stock then issued and outstanding (the “Reverse Stock Split”).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 4, 2022, the Company filed a Certificate of Amendment to the Amended and Restated Articles of Incorporation (the “Certificate of Amendment”) with the Secretary of State of the State of Delaware to effect a 1-for-1.33 Reverse Stock Split with respect to the outstanding shares of the Company’s common stock. The Certificate of Amendment became effective on November 4, 2022. The Reverse Stock Split was deemed effective at the open of business on November 4, 2022. All share and per share data in the accompanying financial statements have been retroactively adjusted to reflect the effect of the reverse stock split.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Liquidity</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying financial statements have been prepared on the basis of continuity of operations, realization of assets and the satisfaction of liabilities and commitments in the ordinary course of business.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Liquidity is the ability of a company to generate funds to support its current and future operations, satisfy its obligations, and otherwise operate on an ongoing basis. On March 31, 2023, the Company had a cash balance of $2,213,151, had short-term investments of $3,509,398, and had working capital of $5,738,796. On February 17, 2023, the Company completed an initial public offering (“IPO”) and sold 1,686,747 shares of its common stock at a price to the public of $4.15 per share for gross proceeds of $7,000,000. The Company received net proceeds of $5,958,470 which is net of offering related expenses paid with proceeds of $1,041,530. The Company also reclassified $202,559 of deferred offering costs as of December 31, 2022 to additional paid in capital upon completing the IPO which resulted in total net proceeds, after equity issuance costs, of $5,755,871. During the three months ended March 31, 2023, the Company used net cash in operations of $933,858 and purchased liquid short-term investments of $3,491,242. Until such time that the Company implements its growth strategy, it expects to continue to generate operating losses in the foreseeable future, mostly due to corporate overhead and costs of being a public company. The Company believes that its existing working capital and cash on hand will provide sufficient cash to enable the Company to meet its operating needs and debt requirements for the next twelve months from the issuance date of this report.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates in the accompanying financial statements include estimates of deferred tax valuation allowances and the fair value of stock options issued for services.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
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CY2023Q1 us-gaap Deferred Tax Liabilities Unrealized Currency Transaction Gains
DeferredTaxLiabilitiesUnrealizedCurrencyTransactionGains
18156 usd
CY2023Q1 us-gaap Advertising Costs Policy Capitalized Direct Response Advertising
AdvertisingCostsPolicyCapitalizedDirectResponseAdvertising
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Capitalized Software Costs</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Costs incurred to develop internal-use software including game development, are expensed as incurred during the preliminary project stage. Internal-use software development costs are capitalized during the application development stage, which is after: (i) the preliminary project stage is completed; and (ii) management authorizes and commits to funding the project and it is probable the project will be completed and used to perform the function intended. Capitalization ceases at the point the software project is substantially complete and ready for its intended use, and after all substantial testing is completed. Upgrades and enhancements are capitalized if it is probable that those expenditures will result in additional functionality. Amortization is provided for on a straight-line basis over the expected useful life of the internal-use software development costs and related upgrades and enhancements. When existing software is replaced with new software, the unamortized costs of the old software are expensed when the new software is ready for its intended use. Through March 31, 2023, no development costs have been capitalized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2023Q1 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P5Y
CY2023Q1 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P5Y
CY2023Q1 nftg License
License
-62836 usd
CY2022Q4 nftg License
License
-62836 usd
CY2023Q1 nftg Warrants
Warrants
1686747 shares
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
460000 shares
CY2023Q1 nftg Tota Common Stock Equivalents
TotaCommonStockEquivalents
2146747 shares
CY2023Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Reclassification </i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain amounts on the statement of operations and comprehensive loss have been reclassified to conform to the 2023 presentation. These reclassifications had no effect on reported results of operations or stockholders’ equity. The reclassification was comprised of $51,554 and $77,500 of expenses previously presented as compensation and related benefits and professional fees, respectively, separately on the statement of operations and comprehensive loss which have now been included in general and administrative expenses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2023Q1 nftg Reclassification Comprised
ReclassificationComprised
51554 usd
CY2023Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
77500 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
3491242 usd
CY2023Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
18156 usd
CY2023Q1 us-gaap Debt Securities Available For Sale And Held To Maturity Fair Value
DebtSecuritiesAvailableForSaleAndHeldToMaturityFairValue
3509398 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7331 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4189 usd
CY2023Q1 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
55505 usd
CY2022 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
58647 usd
CY2023Q1 us-gaap Proceeds From License Fees Received
ProceedsFromLicenseFeesReceived
25000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.05 pure
CY2023Q1 nftg Net Sales Percentage
NetSalesPercentage
0.025 pure
CY2023Q1 us-gaap Payments To Acquire Royalty Interests In Mining Properties
PaymentsToAcquireRoyaltyInterestsInMiningProperties
25000 usd
CY2023Q1 us-gaap Legal Fees
LegalFees
30704 usd
CY2023Q1 us-gaap Professional Fees
ProfessionalFees
7132 usd
CY2023Q1 nftg Gross Proceed
GrossProceed
500000 usd
CY2023Q1 nftg Bona Fide Year
BonaFideYear
P15Y
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3142 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths
12567 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
12567 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
12567 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
12567 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
5237 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
55505 usd
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
7218048 shares
CY2021Q4 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
960 usd
CY2021 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
3199798 shares
CY2021 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
2080700 usd
CY2021Q4 us-gaap Stockholders Equity Note Subscriptions Receivable
StockholdersEquityNoteSubscriptionsReceivable
37500 usd
CY2022Q1 us-gaap Stockholders Equity Note Subscriptions Receivable
StockholdersEquityNoteSubscriptionsReceivable
37500 usd
CY2023Q1 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
1686747 shares
CY2023Q1 us-gaap Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
4.15
CY2023Q1 nftg Gross Proceeds
grossProceeds
7000000 usd
CY2023Q1 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
5958470 usd
CY2023Q1 us-gaap Partners Capital Account Public Sale Of Units Net Of Offering Costs
PartnersCapitalAccountPublicSaleOfUnitsNetOfOfferingCosts
1244129 usd
CY2022Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
202599 usd
CY2022Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
1686747 usd
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
4.565
CY2023Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
3567258 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.698 pure
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0403 pure
CY2023Q1 nftg Holding Period
HoldingPeriod
P5Y
CY2022Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
2500000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
400000 shares
CY2023Q1 us-gaap Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
4.15
CY2023Q1 nftg Stock Options Description
StockOptionsDescription
The options vest as to (i) 340,000 of such options on February 14, 2023; and (ii) the remaining 60,000 options vest quarterly (5,000 each quarter) beginning on May 14, 2023 and each quarter thereafter through February 14, 2026.
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1023290 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
60000 shares
CY2023Q1 us-gaap Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
4.15
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
33972 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
870572 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested
186690 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P2Y8M8D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
0 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
1686747 shares
CY2023Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
4.565 usd
CY2023Q1 nftg Shares Of Common Stock
SharesOfCommonStock
200000 shares
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
NFT Gaming Co Inc.
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2023Q1 us-gaap Revenues
Revenues
usd
CY2022Q1 us-gaap Revenues
Revenues
usd
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.14
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11261224 shares
CY2022Q1 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
usd
CY2022Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
usd
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
CY2023Q1 nftg Proceeds From Subscriptions Receivable
ProceedsFromSubscriptionsReceivable
usd
CY2023Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
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CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
CY2022Q1 nftg Reclassification Of Deferred Offering Costs To Equity
ReclassificationOfDeferredOfferingCostsToEquity
usd
CY2022Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
usd
CY2021Q1 nftg Warrants
Warrants
shares
CY2021Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
shares
CY2021Q1 nftg Tota Common Stock Equivalents
TotaCommonStockEquivalents
shares
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001895618

Files In Submission

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nftg-20230331_cal.xml Edgar Link unprocessable
0001213900-23-038981-index-headers.html Edgar Link pending
0001213900-23-038981-index.html Edgar Link pending
0001213900-23-038981.txt Edgar Link pending
0001213900-23-038981-xbrl.zip Edgar Link pending
f10q0323ex31-1_nftgaming.htm Edgar Link pending
f10q0323ex31-2_nftgaming.htm Edgar Link pending
f10q0323ex32-1_nftgaming.htm Edgar Link pending
f10q0323ex32-2_nftgaming.htm Edgar Link pending
f10q0323_nftgaming.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
nftg-20230331.xsd Edgar Link pending
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nftg-20230331_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
nftg-20230331_lab.xml Edgar Link unprocessable
nftg-20230331_pre.xml Edgar Link unprocessable
f10q0323_nftgaming_htm.xml Edgar Link completed
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