v3.10.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents $ 42,000 $ 86,000
Accounts receivable, net 83,000  
Prepaid expenses 26,000  
Trading securities, at market value 12,000  
Total Current Assets 163,000  
Property and equipment, net 103,000 134,000
Capitalized gaming assets and licensing rights, net 716,000  
Intangible assets, net 10,000  
Other assets 6,000  
TOTAL ASSETS 998,000  
Current Liabilities:    
Accounts payable and accrued liabilities 901,000  
Related party short-term advances 180,000  
Related party line of credit 1,052,000  
Convertible note payable, net 302,000  
Litigation settlement liability  
Current liabilities of discontinued operations 22,000  
Total Current Liabilities 2,457,000  
Non-current related party line of credit  
Total Liabilities 2,457,000  
STOCKHOLDERS' (DEFICIT)    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of September 30, 2018 and December 31, 2017; 20,000 Class E shares issued and outstanding as of September 30, 2018 and December 31, 2017 13  
Common Stock, $0.0001 par value, 750,000,000 shares authorized 198,545,231 and 181,128,950 shares issued and outstanding as of September 30, 2018 and December 31, 2017 19,854  
Additional paid-in capital 53,311,133  
Accumulated deficit (54,790,000)  
Total Stockholders' (Deficit) (1,459,000) (2,262,000)
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) 998,000  
Restated [Member]    
Current Assets:    
Cash and cash equivalents   86,000
Accounts receivable, net   4,000
Prepaid expenses   35,000
Trading securities, at market value   48,000
Total Current Assets   173,000
Property and equipment, net   134,000
Capitalized gaming assets and licensing rights, net   743,000
Intangible assets, net   12,000
Other assets   16,000
TOTAL ASSETS   1,078,000
Current Liabilities:    
Accounts payable and accrued liabilities   528,000
Related party short-term advances  
Related party line of credit  
Convertible note payable, net  
Litigation settlement liability   1,983,000
Current liabilities of discontinued operations   22,000
Total Current Liabilities   2,533,000
Non-current related party line of credit   807,000
Total Liabilities   3,340,000
STOCKHOLDERS' (DEFICIT)    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of September 30, 2018 and December 31, 2017; 20,000 Class E shares issued and outstanding as of September 30, 2018 and December 31, 2017   13
Common Stock, $0.0001 par value, 750,000,000 shares authorized 198,545,231 and 181,128,950 shares issued and outstanding as of September 30, 2018 and December 31, 2017   18,112
Additional paid-in capital   46,561,875
Accumulated deficit   (48,842,000)
Total Stockholders' (Deficit)   (2,262,000)
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT)   1,078,000
Class A Preferred Stock [Member]    
STOCKHOLDERS' (DEFICIT)    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of September 30, 2018 and December 31, 2017; 20,000 Class E shares issued and outstanding as of September 30, 2018 and December 31, 2017 11  
Total Stockholders' (Deficit) 11 11
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) 11  
Class A Preferred Stock [Member] | Restated [Member]    
STOCKHOLDERS' (DEFICIT)    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of September 30, 2018 and December 31, 2017; 20,000 Class E shares issued and outstanding as of September 30, 2018 and December 31, 2017   11
Total Stockholders' (Deficit)   11
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT)   11
Class E Preferred Stock [Member]    
STOCKHOLDERS' (DEFICIT)    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of September 30, 2018 and December 31, 2017; 20,000 Class E shares issued and outstanding as of September 30, 2018 and December 31, 2017 2  
Total Stockholders' (Deficit) 2 2
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) $ 2  
Class E Preferred Stock [Member] | Restated [Member]    
STOCKHOLDERS' (DEFICIT)    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of September 30, 2018 and December 31, 2017; 20,000 Class E shares issued and outstanding as of September 30, 2018 and December 31, 2017   2
Total Stockholders' (Deficit)   2
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT)   $ 2

Source

v3.10.0.1
Condensed Consolidated Statements Of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Income Statement [Abstract]        
Game Revenues $ 116,000 $ 26,000 $ 143,000 $ 110,000
Related Party Service Revenues 80,000 80,000
Gross Margin 196,000 26,000 223,000 110,000
Expenses        
Labor and related expenses 191,000 387,000 1,312,000 2,065,000
Rent 37,000 51,000 125,000 138,000
Depreciation and amortization 28,000 44,000 85,000 89,000
Professional fees 445,000 2,000,000 3,519,000 4,892,000
Research and development 137,000 542,000 590,000 1,202,000
Other general and administrative 154,000 118,000 381,000 426,000
Total Operating Expenses 992,000 3,142,000 6,012,000 8,812,000
Operating Loss (796,000) (3,116,000) (5,789,000) (8,702,000)
Other Income (Expense)        
Interest and dividend income 4,000
Interest Expense 135,000 239,000
Gain on cancellation of shares 5,000 118,000
Unrealized loss on trading securities (7,000) (10,000) (36,000) (37,000)
Total Other Expense (137,000) (10,000) (157,000) (33,000)
Loss from continuing operations (933,000) (3,126,000) (5,946,000) (8,735,000)
Loss on discontinued operations (28,000) (2,000) (132,000)
Net Loss $ (933,000) $ (3,154,000) $ (5,948,000) $ (8,867,000)
Loss from continuing operations        
Basic and Diluted earnings per share $ (0.02) $ (0.03) $ (0.05)
Loss on discontinued operations        
Basic and Diluted earnings per share
Net Loss        
Basic and Diluted earnings per share $ (0.02) $ (0.03) $ (0.05)
Weighted Average Common Shares        
Basic and Diluted 198,811,004 166,052,129 192,273,878 162,287,753

Source

v3.10.0.1
Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows From Operating Activities:    
Net loss for the period $ (5,948,000) $ (8,867,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on discontinued operations (2,000) (132,000)
Depreciation and amortization 85,000 90,000
Common stock issued for employee compensation 625,000 999,000
Common stock, options and warrants issued for services 2,350,000 3,518,000
Vesting of options and warrants granted for services 743,000 647,000
Gain on cancellation of common stock 118,000
Vesting of shares of common stock issued for services 46,000
Debt discount on convertible notes payable 147,000
Unrealized loss on trading securities (36,000) (37,000)
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivables 79,000 (19,000)
Decrease in other receivables (100,000)
Decrease (increase) in prepaid expenses (9,000) 31,000
Decrease (increase) in other assets (10,000) 11,000
Increase in accounts payable and accrued liabilities 373,000 68,000
Increase in accrued interest on short-term advances - related party 2,000
Increase in accrued interest on line of credit - related party 45,000
Increase in accrued interest on convertible notes payable (18,000)
Net Cash Used in Operating Activities from Continuing Operations (1,700,000) (3,253,000)
Net Cash Used in Operating Activities from Discontinued Operations (2,000) (66,000)
Net Cash Used in Operating Activities (1,702,000) (3,319,000)
Cash Flows From Investing Activities:    
Purchase of licensing rights 25,000 100,000
Net Cash Used in Investing Activities (25,000) (100,000)
Cash Flows From Financing Activities:    
Proceeds from sale of common stock 905,000 300,000
Proceeds from short-term advances - related party 178,000
Proceeds from line of credit - related party 200,000 200,000
Proceeds from convertible notes payable 400,000
Net Cash Provided by Financing Activities 1,683,000 500,000
Net Decrease in Cash (44,000) (2,919,000)
Cash and cash equivalents at beginning of period 86,000 3,204,000
Cash and cash equivalents at end of period 42,000 285,000
Supplemental Disclosure of Interest and Income Taxes Paid:    
Interest paid during the period
Income taxes paid during the period
Supplemental Disclosure of Non-cash Investing and Financing Activities:    
Reclassification of other assets to capitalized licensing rights $ 100,000

Source