v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities    
Net income (loss) $ (5,923) $ (2,818)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization and depreciation 243 60
Foreign exchange loss (gain) 34 (1)
Noncash interest expense 129 114
Noncash lease expense 189 22
Change in deferred taxes 0 13
Share-based compensation 1,053 219
Changes in operating assets and liabilities:    
Due from affiliates (1,010) 2,363
Prepaid expenses and other current assets (47) 471
Other assets 207 14
Deferred offering costs 544 0
Accounts payable 927 (692)
Accrued expenses 259 2,068
Player liabilities 202 30
Due to affiliates (461) (986)
Other liabilities (22) (90)
Operating lease liabilities (230) (25)
Net cash (used in) provided by operating activities (3,906) 762
Cash flows from investing activities    
Investment in capitalized software (284) (380)
Purchases of property and equipment (187) (249)
Net cash used in investing activities (471) (629)
Cash flows from financing activities    
Payment of offering costs (863) (336)
Proceeds from issuance of debt 500 0
Cash settlement of affiliated debt (35) 0
Proceeds from issuance of common stock in initial public offering, net of offering costs 8,078 0
Net cash provided by (used in) financing activities 7,680 (336)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 606 98
Net change in cash, cash equivalents, and restricted cash 3,909 (105)
Cash, cash equivalents, and restricted cash – beginning of period 4,045 4,150
Cash, cash equivalents, and restricted cash – end of period 7,954 4,045
Supplemental disclosure of cash flow:    
Cash paid for taxes 0 25
Non-cash investing and financing activities:    
Offering costs accrued but not paid 0 208
Acquisition of right-of-use asset in exchange for lease obligations 1,141 0
Conversion of Related Party Debt into Common Stock [Member]    
Non-cash investing and financing activities:    
Conversion of related party debt to common stock $ 375 $ 5,000

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