SharpLink Gaming Files 10-Q for Q1 2024

TL;DR

SharpLink Gaming filed its Q1 2024 10-Q. Check financials.

AI Summary

SharpLink Gaming, Inc. filed its 10-Q for the period ending March 31, 2024. The filing details the company's financial position and operational activities. Key financial data points and disclosures relevant to investors are included in this report.

Why It Matters

This 10-Q filing provides investors with a quarterly update on SharpLink Gaming's financial health and operational performance, crucial for investment decisions.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the company's specific financial performance and market conditions could present risks.

Key Players & Entities

• SharpLink Gaming, Inc. (company) — Filer of the 10-Q
• 2024-03-31 (date) — End of the reporting period
• 2024-05-17 (date) — Filing date

FAQ

Filing Documents

• form10-q.htm (10-Q) — 1464KB
• ex31-1.htm (EX-31.1) — 11KB
• ex31-2.htm (EX-31.2) — 11KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• 0001493152-24-020437.txt ( ) — 8288KB
• sbet-20240331.xsd (EX-101.SCH) — 60KB
• sbet-20240331_cal.xml (EX-101.CAL) — 71KB
• sbet-20240331_def.xml (EX-101.DEF) — 274KB
• sbet-20240331_lab.xml (EX-101.LAB) — 467KB
• sbet-20240331_pre.xml (EX-101.PRE) — 391KB
• form10-q_htm.xml (XML) — 1553KB

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS: 3 Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) for the Three Months Ended March 31, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 (unaudited) 6 Notes to Condensed Consolidated Financial Statements (unaudited) 7 ITEM 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 22 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 27 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 27 PART II. OTHER INFORMATION 28 ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 28 ITEM 1A.

RISK FACTORS

RISK FACTORS 28 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 28 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 28 ITEM 4. MINE SAFETY DISCLOSURES 28 ITEM 5. OTHER INFORMATION 28 ITEM 6. EXHIBITS 28

SIGNATURES

SIGNATURES 29 2 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL SHARPLINK GAMING, INC. CONSOLIDATED BALANCE SHEETS March 31, 2024 (unaudited) December 31, 2023 Assets Current Assets Cash $ 4,013,838 $ 2,487,481 Accounts receivable, net of allowance for credit losses of $ 0 364,009 415,119 Unbilled receivables - 12,000 Prepaid expenses and other current assets 656,648 383,295 Current assets from discontinued operations 337,060 67,805,379 Total current assets 5,371,555 71,103,274 Equipment, net 8,309 8,792 Intangible assets, net 16,881 168,112 Total assets $ 5,396,745 $ 71,280,178 Liabilities and Stockholders' Equity Current Liabilities Accounts payable and accrued expenses $ 919,890 $ 1,463,699 Due to RSports 56,117 - Warrant liability 170,636 - Line of credit - 6,345,978 Current portion of long-term debt - 645,571 Current portion of convertible debenture, net of discount of $ 0 and $ 283,335 , respectively, warrant discount of $ 0 and $ 831,746 , respectively, accrued interest of $ 0 and $ 299,648 , respectively - 4,395,753 Current liabilities from discontinued operations 1,397,822 66,396,883 Total current liabilities 2,544,465 79,247,884 Long-Term Liabilities Deferred tax liability - 7,155 Debt, less current portion - 1,424,908 Total liabilities 2,544,465 80,679,947 Commitments and Contingencies - - Stockholders' Equity Series A-1 preferred stock, $ 0.0001 par value; authorized shares: 260,000 ; issued and outstanding shares: 7,202 ; liquidation preference: $ 116,997 1 1,440 Series B preferred stock, $ 0.0001 par value; authorized shares: 370,000 ; issued and outstanding shares: 12,481 ; liquidation preference: $ 529,122 1 2,496 Preferred stock, value 1 2,496 Common stock, $ 0.001 par value; authorized shares 100,000,000 ; issued and outstanding shares: 3,361,608 and 2,863,734 , respectively 336 572,770 Treasury stock, 90 c

View Full Filing

View this 10-Q filing on SEC EDGAR