$GXAI
GAXOS.AI INC.

2023 Q4 Form 10-Q Financial Statement

#000121390023086878 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q4
Revenue $300.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $545.7K $615.2K $109.0K
YoY Change 400.78% 482.3%
% of Gross Profit
Research & Development $285.2K $258.4K $215.8K
YoY Change 32.18% 16.98% 3068.28%
% of Gross Profit
Depreciation & Amortization $3.700K $700.00 $3.140K
YoY Change 17.83% -33.33%
% of Gross Profit
Operating Expenses $831.0K $873.6K $324.7K
YoY Change 155.91% 167.53% 2549.69%
Operating Profit -$873.6K
YoY Change 167.53%
Interest Expense $29.80K $16.60K $1.680K
YoY Change 1673.81% 4642.86%
% of Operating Profit
Other Income/Expense, Net $16.56K
YoY Change 4577.12%
Pretax Income -$801.0K -$857.1K -$323.0K
YoY Change 147.96% 162.75%
Income Tax
% Of Pretax Income
Net Earnings -$801.0K -$857.1K -$323.0K
YoY Change 147.96% 162.74% 2535.99%
Net Earnings / Revenue -267000.0%
Basic Earnings Per Share -$0.07
Diluted Earnings Per Share -$0.80 -$0.07 -$0.06
COMMON SHARES
Basic Shares Outstanding 12.07M shares 12.07M shares
Diluted Shares Outstanding 12.07M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.617M $4.336M $679.8K
YoY Change 432.14% 343.11%
Cash & Equivalents $1.025M $765.0K $679.8K
Short-Term Investments $2.593M $3.571M
Other Short-Term Assets $25.10K $79.70K $203.0K
YoY Change -87.64% -53.62%
Inventory
Prepaid Expenses
Receivables $8.00
Other Receivables $0.00
Total Short-Term Assets $3.643M $4.416M $882.8K
YoY Change 312.62% 283.85% -57.52%
LONG-TERM ASSETS
Property, Plant & Equipment $52.61K $23.94K
YoY Change
Goodwill
YoY Change
Intangibles $0.00 $0.00 $58.65K
YoY Change -100.0%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $53.41K $24.75K $58.65K
YoY Change -8.93% -59.95%
TOTAL ASSETS
Total Short-Term Assets $3.643M $4.416M $882.8K
Total Long-Term Assets $53.41K $24.75K $58.65K
Total Assets $3.696M $4.440M $941.4K
YoY Change 292.59% 266.32% -54.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $215.9K $179.9K $245.0K
YoY Change -11.89% -7.75% 3820.18%
Accrued Expenses $54.15K $21.65K $10.68K
YoY Change 406.92% 158.34% 329.73%
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 $270.0K $201.5K $255.7K
YoY Change 5.61% -0.91% 2826.9%
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 $270.0K $201.5K $255.7K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $270.0K $201.5K $255.7K
YoY Change 5.61% -0.91% 2826.9%
SHAREHOLDERS EQUITY
Retained Earnings -$5.382M -$4.581M -$1.433M
YoY Change 275.43% 11596.67%
Common Stock $99.00 $1.200K $1.042K
YoY Change -90.5% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.426M $4.239M $685.7K
YoY Change
Total Liabilities & Shareholders Equity $3.696M $4.440M $941.4K
YoY Change 292.59% 266.32% -54.7%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q4
OPERATING ACTIVITIES
Net Income -$801.0K -$857.1K -$323.0K
YoY Change 147.96% 162.74% 2535.99%
Depreciation, Depletion And Amortization $3.700K $700.00 $3.140K
YoY Change 17.83% -33.33%
Cash From Operating Activities -$672.9K -$873.8K -$355.5K
YoY Change 89.26% 175.35% 10003.72%
INVESTING ACTIVITIES
Capital Expenditures $32.40K $24.60K $0.00
YoY Change -60.85%
Acquisitions
YoY Change
Other Investing Activities $1.015M $0.00
YoY Change
Cash From Investing Activities $982.7K -$24.70K $0.00
YoY Change -60.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -50.10K -25.40K 56.81K
YoY Change -188.19% 7.81% -97.27%
NET CHANGE
Cash From Operating Activities -672.9K -873.8K -355.5K
Cash From Investing Activities 982.7K -24.70K 0.000
Cash From Financing Activities -50.10K -25.40K 56.81K
Net Change In Cash 259.7K -923.9K -298.7K
YoY Change -186.93% 128.84% -114.38%
FREE CASH FLOW
Cash From Operating Activities -$672.9K -$873.8K -$355.5K
Capital Expenditures $32.40K $24.60K $0.00
Free Cash Flow -$705.3K -$898.4K -$355.5K
YoY Change 98.37% 136.31%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
usd
CY2023Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2023Q3 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2023Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2023Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2023Q3 us-gaap Deferred Offering Costs
DeferredOfferingCosts
usd
CY2023Q3 us-gaap Revenues
Revenues
usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
usd
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.27
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12071750 shares
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-41620
dei Entity Registrant Name
EntityRegistrantName
The NFT Gaming Company, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
87-3288897
dei Entity Address Address Line1
EntityAddressAddressLine1
101 Eisenhower Pkwy, Suite 300
dei Entity Address City Or Town
EntityAddressCityOrTown
Roseland
dei Entity Address State Or Province
EntityAddressStateOrProvince
NJ
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
07068
dei City Area Code
CityAreaCode
(973)
dei Local Phone Number
LocalPhoneNumber
275-7428
CY2022Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
usd
dei Security12b Title
Security12bTitle
Common Stock, par value $0.0001 per share
dei Trading Symbol
TradingSymbol
NFTG
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Shell Company
EntityShellCompany
false
CY2023Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
12072553 shares
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
764977 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
679781 usd
CY2023Q3 us-gaap Short Term Investments
ShortTermInvestments
3570888 usd
CY2023Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
79719 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
400 usd
CY2022Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
202599 usd
CY2023Q3 us-gaap Assets Current
AssetsCurrent
4415584 usd
CY2022Q4 us-gaap Assets Current
AssetsCurrent
882780 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
23941 usd
CY2023Q3 nftg Digital Currencies
DigitalCurrencies
808 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
58647 usd
CY2023Q3 us-gaap Assets Noncurrent
AssetsNoncurrent
24749 usd
CY2022Q4 us-gaap Assets Noncurrent
AssetsNoncurrent
58647 usd
CY2023Q3 us-gaap Assets
Assets
4440333 usd
CY2022Q4 us-gaap Assets
Assets
941427 usd
CY2023Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
179852 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
245011 usd
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
21649 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
10683 usd
CY2023Q3 us-gaap Liabilities Current
LiabilitiesCurrent
201501 usd
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
255694 usd
CY2023Q3 us-gaap Liabilities
Liabilities
201501 usd
CY2022Q4 us-gaap Liabilities
Liabilities
255694 usd
CY2023Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2023Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
11998670 shares
CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
11998670 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
10417846 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
10417846 shares
CY2023Q3 us-gaap Common Stock Value
CommonStockValue
1200 usd
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
1042 usd
CY2023Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
8738547 usd
CY2022Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
2118118 usd
CY2023Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
79646 usd
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-4580561 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1433427 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
4238832 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
685733 usd
CY2023Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4440333 usd
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
941427 usd
CY2023Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
258405 usd
CY2022Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
220902 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
630574 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
608765 usd
CY2023Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
615211 usd
CY2022Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
105650 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2501612 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
490607 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
52363 usd
CY2023Q3 us-gaap Operating Expenses
OperatingExpenses
873616 usd
CY2022Q3 us-gaap Operating Expenses
OperatingExpenses
326552 usd
us-gaap Operating Expenses
OperatingExpenses
3184549 usd
us-gaap Operating Expenses
OperatingExpenses
1099372 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-873616 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-326552 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-3184549 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-1099372 usd
CY2023Q3 us-gaap Interest And Other Income
InterestAndOtherIncome
16557 usd
CY2022Q3 us-gaap Interest And Other Income
InterestAndOtherIncome
354 usd
us-gaap Interest And Other Income
InterestAndOtherIncome
37415 usd
us-gaap Interest And Other Income
InterestAndOtherIncome
1242 usd
CY2023Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
16557 usd
CY2022Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
354 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
37415 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1242 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-857059 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-326198 usd
us-gaap Net Income Loss
NetIncomeLoss
-3147134 usd
us-gaap Net Income Loss
NetIncomeLoss
-1098130 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-857059 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-326198 usd
us-gaap Net Income Loss
NetIncomeLoss
-3147134 usd
us-gaap Net Income Loss
NetIncomeLoss
-1098130 usd
CY2023Q3 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
41841 usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
79646 usd
CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-815218 usd
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-326198 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3067488 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1098130 usd
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.27
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12071750 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10417846 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11815494 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10417846 shares
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
685733 usd
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
5755871 usd
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
870572 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
18156 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-1536031 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
5794301 usd
CY2023Q2 nftg Purchase And Cancellation Of Treasury Stock
PurchaseAndCancellationOfTreasuryStock
-24241 usd
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
21927 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
19649 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-754044 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
5057592 usd
CY2023Q3 nftg Purchase And Cancellation Of Treasury Stock
PurchaseAndCancellationOfTreasuryStock
-25469 usd
CY2023Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
21927 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
41841 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-857059 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
4238832 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
2069405 usd
CY2022Q1 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
37500 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-307838 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
1799067 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-464094 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
1334973 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-326198 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
1008775 usd
us-gaap Net Income Loss
NetIncomeLoss
-3147134 usd
us-gaap Net Income Loss
NetIncomeLoss
-1098130 usd
us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
6968 usd
us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
1047 usd
us-gaap Share Based Compensation
ShareBasedCompensation
914426 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
52363 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
79319 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2415 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-65967 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
188724 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
10966 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
5898 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2307697 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-904876 usd
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
3491242 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
24625 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
62836 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3515867 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-62836 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5958470 usd
nftg Proceeds From Subscriptions Receivable
ProceedsFromSubscriptionsReceivable
37500 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
169409 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
49710 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5908760 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-131909 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
85196 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1099621 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
679781 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2078141 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
764977 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
978520 usd
nftg Reclassification Of Deferred Offering Costs To Equity
ReclassificationOfDeferredOfferingCostsToEquity
202599 usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
79646 usd
nftg Increase In Digital Currency And Accounts Payable
IncreaseInDigitalCurrencyAndAccountsPayable
808 usd
us-gaap Nature Of Operations
NatureOfOperations
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><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”). On March 30, 2022, the Company reincorporated to the State of Delaware pursuant to a Plan of Conversion approved by the Board of Directors and a majority of the shareholders. 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 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">On July 10, 2023, the Company received written notice from Nasdaq that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2), as the minimum bid price of our common stock had been below $1.00 per share for 30 consecutive business days. In accordance with Nasdaq Listing Rule 5810, the Company has a period of 180 calendar days, or until January 6, 2024, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Company’s common stock must meet or exceed $1.00 per share for at least 10 consecutive business days during this 180-calendar day period. In the event the Company does not regain compliance by January 6, 2024, the Company may be eligible for an additional 180 calendar day grace period if it meets the continued listing standards, with the exception of bid price, for The Nasdaq Capital Market, and the Company provides written notice to Nasdaq of its intention to cure the deficiency during the second compliance period. If the Company does not qualify for or fails to regain compliance during the second compliance period, then Nasdaq will notify the Company of its determination to delist its Common Stock, at which point the Company would have an option to appeal the delisting determination to a Nasdaq hearings panel. The Company intends to actively monitor the closing bid price of its Common Stock and may, if appropriate, consider implementing available options to regain compliance with the minimum bid price under the Nasdaq Listing Rules. </p>
CY2022Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.33
CY2023Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
1
CY2023Q3 us-gaap Cash
Cash
764977 usd
CY2023Q3 us-gaap Short Term Investments
ShortTermInvestments
3570888 usd
CY2023Q3 us-gaap Capital Units
CapitalUnits
4214083 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2307697 usd
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
3491242 usd
us-gaap Use Of Estimates
UseOfEstimates
<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">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 valuation of intangible assets and other long-lived assets, estimates of deferred tax valuation allowances and the fair value of stock options issued for services.</p>
CY2023Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q3 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
41841 usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
79646 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
33972 usd
CY2022Q4 us-gaap Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
usd
nftg Number Of Digital Units
NumberOfDigitalUnits
1565 pure
CY2023Q3 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
24625 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
52363 usd
nftg Increase In Digital Currency And Accounts Payable
IncreaseInDigitalCurrencyAndAccountsPayable
usd
nftg Warrants
Warrants
shares
nftg Warrants
Warrants
1686747 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
460000 shares
nftg Tota Common Stock Equivalents
TotaCommonStockEquivalents
2146747 shares
CY2023Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
3491242 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
79646 usd
CY2023Q3 us-gaap Debt Securities Available For Sale And Held To Maturity Fair Value
DebtSecuritiesAvailableForSaleAndHeldToMaturityFairValue
3570888 usd
CY2023Q3 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P3Y
CY2023Q3 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
24625 usd
CY2023Q3 us-gaap Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
684 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
23941 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
684 usd
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
shares
nftg Tota Common Stock Equivalents
TotaCommonStockEquivalents
shares
CY2023Q3 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P5Y
CY2022Q4 nftg License
License
-62836 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4189 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
58647 usd
CY2022Q3 us-gaap Proceeds From License Fees Received
ProceedsFromLicenseFeesReceived
25000 usd
us-gaap Legal Fees
LegalFees
30704 usd
us-gaap Professional Fees
ProfessionalFees
7132 usd
nftg Initial Financing Gross Proceeds
InitialFinancingGrossProceeds
500000 usd
us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
52363 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
52363 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
6284 usd
CY2023Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q1 us-gaap Stockholders Equity Note Subscriptions Receivable
StockholdersEquityNoteSubscriptionsReceivable
37500 usd
CY2023Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
500000 usd
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
105931 shares
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
49710 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Per Share Weighted Average Price Of Shares Purchased
ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased
0.469
CY2023Q1 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
1686755 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
1041530 usd
CY2022Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
202599 usd
CY2022Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
1686747 usd
CY2023Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
4.565
us-gaap Class Of Warrant Or Righst Date From Which Warrants Or Rights Exercisable
ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable
2028-02-14
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
3657258 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.698 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0403 pure
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
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
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
914426 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested
142835 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P2Y5M8D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
0 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
1686747 shares
CY2023Q3 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
4.565 usd
CY2023Q1 nftg Shares Of Common Stock
SharesOfCommonStock
200000 shares
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
usd
CY2022Q4 nftg Digital Currencies
DigitalCurrencies
usd
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
usd
us-gaap Revenues
Revenues
usd
us-gaap Revenues
Revenues
usd
us-gaap Share Based Compensation
ShareBasedCompensation
usd
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
nftg Proceeds From Subscriptions Receivable
ProceedsFromSubscriptionsReceivable
usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
usd
us-gaap Interest Paid Net
InterestPaidNet
usd
us-gaap Interest Paid Net
InterestPaidNet
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
nftg Reclassification Of Deferred Offering Costs To Equity
ReclassificationOfDeferredOfferingCostsToEquity
usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
usd
CY2023Q3 nftg License
License
usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
usd
CY2023Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2023Q3 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
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001895618

Files In Submission

Name View Source Status
nftg-20230930_cal.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
0001213900-23-086878-index-headers.html Edgar Link pending
0001213900-23-086878-index.html Edgar Link pending
0001213900-23-086878.txt Edgar Link pending
0001213900-23-086878-xbrl.zip Edgar Link pending
ex10-1_001.jpg Edgar Link pending
ex10-1_002.jpg Edgar Link pending
f10q0923ex10-1_nftgaming.htm Edgar Link pending
f10q0923ex31-1_nftgaming.htm Edgar Link pending
f10q0923ex31-2_nftgaming.htm Edgar Link pending
f10q0923ex32-1_nftgaming.htm Edgar Link pending
f10q0923ex32-2_nftgaming.htm Edgar Link pending
f10q0923_nftgaming.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
nftg-20230930.xsd Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
nftg-20230930_lab.xml Edgar Link unprocessable
nftg-20230930_def.xml Edgar Link unprocessable
nftg-20230930_pre.xml Edgar Link unprocessable
f10q0923_nftgaming_htm.xml Edgar Link completed
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending