Registration statement for securities of certain foreign private issuers

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities    
Net loss [1] $ (3,192,315) $ (1,230,319)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation [1] 398,605 171,768
Depreciation and amortization [1] 1,570,593 1,262,108
Bargain purchase gain [1]   (1,060,794)
Amortization of deferred tax liability [1] (68,808)  
Amortization of debt discount [1] 322,947 580,049
Provision for doubtful debts [1] 161,788  
Loss (gain) on foreign exchange transactions [1] 121,904 (31,704)
Loss on disposal of property and equipment [1] 294  
Change in fair value of derivative liabilities [1]   (783,735)
Changes in operating assets and liabilities:    
Accounts receivable [1] 157,720 (557,044)
Prepaid expenses and other current assets [1] (483,682) (699,189)
Inventory [1] (6,973) (27,793)
Accounts payable [1] 334,949 (138,625)
Accrued expenses and other current liabilities [1] 117,632 290,219
Deferred revenue [1] (1,684,719) 833,050
Deferred tax liability [1] 138,053 84,046
Other non-current liabilities [1] (25,147) 22,323
Total adjustments [1] 1,065,101 (55,321)
Net Cash Used In Operating Activities [1] (2,127,213) (1,285,640)
Cash Flows From Investing Activities    
Purchase of intangible assets [1] (437,764) (423,959)
Purchase of equipment [1] (233,823) (636,165)
Sale of equipment [1] 25,236 3,545
Acquisition of Entrepreneurs Institute [1]   (800,000)
Cash paid in Matla acquisition [1]   (1)
Cash acquired in Matla acquisition [1]   14,759
Purchase of investment in Health360 [1]   (373)
Deposit on investment in UAV [1] (516,296)  
Net Cash Used In Investing Activities [1] (1,162,647) (1,842,194)
Cash Flows From Financing Activities    
Amount due to/from related party [1] 13,459 48,066
Dividends paid [1]   (147,557)
Purchase of treasury stock [1]   (656,513)
Proceeds from sale of treasury stock [1]   382,630
Proceeds from convertible debt, net of issuance costs [1] 1,819,145 2,256,178
Convertible debt issuance costs [1]   (134,151)
Proceeds from equity issuances, net of issuance costs [1] 2,222,000 2,599,978
Operating lease liability [1] (420,675) (153,437)
Repayments of loans payable [1] (551,946) (218,572)
Net Cash Provided By Financing Activities [1] 3,081,983 3,976,622
Effect of Exchange Rate Changes on Cash [1] (809,067) (296,582)
Net Increase (Decrease) In Cash [1] (1,016,944) 552,206
Cash - Beginning of year [1] 3,290,095 2,737,889
Cash - End of year [1] 2,273,151 3,290,095
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for interest [1] 335,606 266,059
Non-Cash Investing and Financing Activities    
Debt Discount For Derivative Liability [1]   783,735
ROU asset for lease liability [1]   2,427,176
Treasury stock adjustment [1] 494,476  
Condonation of loan [1] 400,000  
Shares issued for subscription receivable [1] 915,763 1,125,774
Shares issued in satisfaction of a liability, net of derivative liability (2020: $250,000) [1] 100,000  
Shares issued for the acquisition of Entrepreneur Resorts and Wealth Dynamics 17,798,374  
Shares issued for the acquisition of Entrepreneur Resorts and Entrepreneurs Institute [1] 17,798,374 6,400,000
Shares issued for conversion of convertible notes [1] $ 2,664,004  
Loan payable for the acquisition of Entrepreneurs Institute [1]   $ 800,000
[1] Restatements in Note 35 to align with IFRS 3 book value method for business combination