v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities    
Net loss $ (8,048,022) $ (10,063,448)
Adjustments to reconcile net loss to net cash used by operating activities    
Depreciation and amortization 698,269 1,038,138
Loss on disposal of property  and equipment 69,611 161,814
Noncash lease expense 614,254 524,500
Bad debt expense (recovery) (155) (7,584)
Share-based compensation 93,313 111,402
Income tax expense/ (benefit) (247,941)
Interest expense paid in equity shares 276,151 1,627,046
Accrued interest on notes payable 1,858,631 635,001
Amortization of original issue discounts on notes payable 1,200,200 908,333
Gain/(loss) on marketable securities 58 (2,234,478)
Discharge of Paycheck Protection Program Loans (971,500)
Changes in operating assets and liabilities net of effects from acquisition of subsidiaries:    
Trade receivables (2,108,384) 445,590
Trade receivables - related party (578,388) 14,641
Inventory (231,923) (2,565,778)
Prepaid expenses and other current assets (667,772) 125,344
Other assets (246,658) (159,526)
Accounts payable 816,040 1,012,206
Accounts payable - related party (15,761)
Operating lease liabilities (550,019) (456,042)
Deposits from customers (38,863) (374,978)
Accrued expenses 1,264,909 (444,238)
Deferred revenue 525,180 470,685
Income taxes payable (45,773) (59,588)
Other liabilities (278,946) (159,526)
Net cash used by operating activities - continuing operations (5,394,048) (10,669,927)
Net cash provided by operating activities - discontinued operations 2,474,863 41,562
Net cash used by operating activities (2,919,185) (10,628,365)
Cash Flows from Investing Activities    
Purchase of property and equipment (761,470) (727,955)
Proceeds from sale of property and equipment 26,205 51,262
Investment in MasterpieceVR (500,000)
Proceeds from sale of marketable securities 12,182,932
Purchase of marketable securities (10,214,044)
Net cash (used in)/provided by investing activities - continuing operations (735,265) 792,195
Net cash used by investing activities - discontinued operations (39,388)
Net cash (used in)/provided by investing activities (735,265) 752,807
Cash Flows from Financing Activities    
Proceeds from notes payable 8,000,000
Payments on debt (844,370) (1,176,763)
Payments on Paycheck Protection Program Loans (20,154)
Payments on bank loans (416,467) (920,939)
Net cash provided by financing activities - continuing operations (1,280,991) 5,902,298
Net cash used by financing activities - discontinued operations
Net cash (used)/provided by financing activities (1,280,991) 5,902,298
Effect of currency translation (104,123) (397,840)
Net decrease in cash, cash equivalents, and restricted cash (4,935,441) (3,973,260)
Cash, cash equivalents, and restricted cash at beginning of period 11,473,676 17,186,323
Cash, cash equivalents, and restricted cash at end of period 6,434,112 12,815,223
Balance Sheet Accounts Included in Cash, Cash Equivalents, and Restricted Cash    
Cash and equivalents 5,628,839 11,442,487
Less cash attributed to discontinued operations (145,984)
Restricted cash 805,273 1,518,720
Total cash, cash equivalents, and restricted cash 6,434,112 12,815,223
Supplemental Disclosure of Cash Flow Information:    
Cash paid during the period for interest 382,575 483,665
Cash paid during the period for income taxes, net of refunds 45,773 306,729
Supplemental Schedule of Non-Cash Investing and Financing Activities    
Shares issued to pay for services 141,872
Shares issued to pay notes payable 1,426,151 3,993,124
Purchase of property and equipment through vendor financing 1,125,000
Shares issued in connection with note payable 700,400
Investment in right of use asset $ 186,397 $ 317,187

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