v3.10.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents $ 168,000 $ 86,000
Accounts receivable, net 18,000  
Prepaid expenses 26,000  
Trading securities, at market value 19,000  
Total Current Assets 231,000  
Property and equipment, net 113,000 134,000
Capitalized gaming assets and licensing rights, net 709,000  
Intangible assets, net 10,000  
Other assets 6,000  
TOTAL ASSETS 1,069,000  
Current Liabilities:    
Accounts payable and accrued liabilities 552,000  
Related party short-term advances 55,000  
Related party line of credit 1,036,000  
Convertible note payable, net 196,000  
Litigation settlement liability 1,983,000  
Current liabilities of discontinued operations 22,000  
Total Current Liabilities 3,844,000  
Non-current related party line of credit  
Total Liabilities 3,844,000  
STOCKHOLDERS' EQUITY (DEFICIT)    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of June 30, 2018 and December 31, 2017; 20,000 Class E shares issued and outstanding as of June 30, 2018 and December 31, 2017 13  
Common Stock, $0.0001 par value, 750,000,000 shares authorized 194,041,732 and 181,128,950 shares issued and outstanding as of June 30, 2018 and December 31, 2017 19,404  
Additional paid-in capital 51,062,583  
Accumulated deficit (53,857,000)  
Total Stockholders' Equity (Deficit) (2,775,000) (2,262,000)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) 1,069,000  
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  
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' EQUITY (DEFICIT)    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of June 30, 2018 and December 31, 2017; 20,000 Class E shares issued and outstanding as of June 30, 2018 and December 31, 2017   13
Common Stock, $0.0001 par value, 750,000,000 shares authorized 194,041,732 and 181,128,950 shares issued and outstanding as of June 30, 2018 and December 31, 2017   18,112
Additional paid-in capital   46,561,875
Accumulated deficit   (48,842,000)
Total Stockholders' Equity (Deficit)   (2,262,000)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)   1,078,000
Class A Preferred Stock [Member]    
STOCKHOLDERS' EQUITY (DEFICIT)    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of June 30, 2018 and December 31, 2017; 20,000 Class E shares issued and outstanding as of June 30, 2018 and December 31, 2017 11  
Total Stockholders' Equity (Deficit) 11  
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) 11  
Class A Preferred Stock [Member] | Restated [Member]    
STOCKHOLDERS' EQUITY (DEFICIT)    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of June 30, 2018 and December 31, 2017; 20,000 Class E shares issued and outstanding as of June 30, 2018 and December 31, 2017   11
Total Stockholders' Equity (Deficit)   11
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)   11
Class E Preferred Stock [Member]    
STOCKHOLDERS' EQUITY (DEFICIT)    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of June 30, 2018 and December 31, 2017; 20,000 Class E shares issued and outstanding as of June 30, 2018 and December 31, 2017 2  
Total Stockholders' Equity (Deficit) 2  
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 2  
Class E Preferred Stock [Member] | Restated [Member]    
STOCKHOLDERS' EQUITY (DEFICIT)    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of June 30, 2018 and December 31, 2017; 20,000 Class E shares issued and outstanding as of June 30, 2018 and December 31, 2017   2
Total Stockholders' Equity (Deficit)   2
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)   $ 2

Source

v3.10.0.1
Condensed Consolidated Statements Of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Income Statement [Abstract]        
Revenues $ 21,000 $ 32,000 $ 27,000 $ 84,000
Expenses        
Labor and related expenses 235,000 308,000 1,121,000 1,678,000
Rent 39,000 49,000 88,000 87,000
Depreciation and amortization 28,000 30,000 57,000 45,000
Professional fees 518,000 1,300,000 3,074,000 2,892,000
Research and development 154,000 152,000 453,000 265,000
Other general and administrative 122,000 369,000 227,000 703,000
Total Operating Expenses 1,096,000 2,208,000 5,020,000 5,670,000
Operating Loss (1,075,000) (2,176,000) (4,993,000) (5,586,000)
Other Income (Expense)        
Interest and dividend income 1,000 4,000
Interest Expense 84,000 104,000
Gain on cancellation of shares 113,000 113,000
Unrealized loss on trading securities (18,000) (12,000) (29,000) (27,000)
Total Other Expense 11,000 (11,000) (20,000) (23,000)
Loss from continuing operations (1,064,000) (2,187,000) (5,013,000) (5,609,000)
Loss on discontinued operations (69,000) (2,000) (104,000)
Net Loss $ (1,064,000) $ (2,256,000) $ (5,015,000) $ (5,713,000)
Loss from continuing operations        
Basic and Diluted earnings per share $ (0.01) $ (0.01) $ (0.03) $ (0.04)
Loss on discontinued operations        
Basic and Diluted earnings per share
Net Loss        
Basic and Diluted earnings per share $ (0.01) $ (0.01) $ (0.03) $ (0.04)
Weighted Average Common Shares        
Basic and Diluted 192,569,065 160,846,474 189,479,590 160,321,114

Source

v3.10.0.1
Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash Flows From Operating Activities:    
Net loss for the period $ (5,015,000) $ (5,713,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on discontinued operations (2,000) (104,000)
Depreciation and amortization 57,000 45,000
Common stock issued for employee compensation 625,000 847,000
Common stock, options and warrants issued for services 2,113,000 1,909,000
Vesting of options and warrants granted for services 709,000 537,000
Gain on cancellation of common stock 113,000
Vesting of shares of common stock issued for services 46,000
Debt discount on convertible notes payable 53,000
Unrealized loss on trading securities (29,000) (27,000)
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivables 14,000 (10,000)
Decrease in other receivables (100,000)
Decrease (increase) in prepaid expenses (9,000) 44,000
Decrease in other assets (10,000)
Increase in accounts payable and accrued liabilities 24,000 21,000
Increase in accrued interest on line of credit - related party 29,000
Increase in accrued interest on convertible notes payable (6,000)
Net Cash Used in Operating Activities from Continuing Operations (1,476,000) (2,111,000)
Net Cash Used in Operating Activities from Discontinued Operations (2,000) (40,000)
Net Cash Used in Operating Activities (1,478,000) (2,151,000)
Cash Flows From Investing Activities:    
Purchase of licensing rights 50,000
Net Cash (Used in) Provided by Investing Activities (50,000)
Cash Flows From Financing Activities:    
Proceeds from sale of common stock 905,000 300,000
Proceeds from short-term advances - related party 55,000
Proceeds from line of credit - related party 200,000
Proceeds from convertible notes payable 400,000
Net Cash Provided by Financing Activities 1,560,000 300,000
Net Increase (Decrease) in Cash 82,000 (1,901,000)
Cash and cash equivalents at beginning of period 86,000 3,204,000
Cash and cash equivalents at end of period 168,000 1,303,000
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