v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Cash flows from operating activities      
Net income (loss) $ (3,276) $ (1,849) $ (5,923)
Adjustments to reconcile net loss to net cash used in operating activities:      
Amortization and depreciation 76 50  
Foreign exchange gain 0 (1)  
Noncash interest expense 0 26  
Noncash lease expense 184 41  
Share-based compensation 308 525  
Loss on liquidation of Ellmount Support 0 11  
Changes in operating assets and liabilities:      
Due from affiliates 622 265  
Prepaid expenses and other current assets 37 (1)  
Other assets 0 60  
Accounts payable (323) (206)  
Accrued expenses (417) 239  
Player liabilities 374 39  
Due to affiliates (1,082) 558  
Operating lease liabilities (128) (17)  
Other liabilities 17 0  
Net cash used in operating activities (3,608) (260)  
Cash flows from investing activities      
Investment in capitalized software 0 (80)  
Purchase of property and equipment (13) (72)  
Net cash used in investing activities (13) (152)  
Cash flows from financing activities      
Payment of deferred offering costs 0 (145)  
Cash Settlement of affiliated debt (90) 0  
Net cash used in financing activities (90) (145)  
Effect of exchange rate changes on cash, cash equivalents and restricted cash 290 (80)  
Net change in cash, cash equivalents, and restricted cash (3,421) (637)  
Cash, cash equivalents, and restricted cash – beginning of period 7,954 4,045 4,045
Cash, cash equivalents, and restricted cash – end of period 4,533 3,408 $ 7,954
Non-cash financing activities:      
Acquisition of right-of-use asset in exchange for lease obligations 138 1,033  
Offering costs accrued but not paid $ 0 $ 241  

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