v3.22.4
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities    
Net loss $ (13,292,242) $ (7,886,269)
Net loss from discontinued operations (8,280,047)
Net loss from continuing operations (13,292,242) 393,778
Adjustments to reconcile net income/(loss) to net cash used by operating activities    
Depreciation and amortization 1,862,690 1,335,189
Loss on disposal of property and equipment 78,707 48,981
Noncash lease expense 616,116 870,860
Goodwill Impairment 3,316,000
Change in allowance for doubtful accounts 73,696 (161,856)
Loss on write off of related party receivables 708,512
Share-based compensation 155,505 156,418
Income tax expense/ (benefit) (208,545) 375,434
Interest expense paid in equity shares 926,646 1,291,596
Accounts payable paid in equity shares 50,000
Accrued interest on notes payable 1,043,346 398,321
Amortization of original issue discounts on notes payable 1,544,622 675,000
Gain on marketable securities (8,399,152) (2,612,847)
Discharge of Paycheck Protection Program Loans (971,500) (5,320,485)
Settlement Agreement - Related Party (3,674,165)
Changes in operating assets and liabilities net of effects from acquisition of subsidiaries:    
Trade receivables 1,776,514 (962,243)
Trade receivables - related party (59,960)
Inventory (3,874,395) (670,838)
Prepaid expenses and other current assets 48,308 (1,411,653)
Other assets (276,740) 110,534
Other liabilities (31,273) 70,576
Accounts payable (978,443) (512,138)
Accounts payable - related party 36,191
Operating lease liabilities (524,188) (962,790)
Deposits from customers (338,042) 33,310
Accrued expenses 660,271 47,389
Deferred revenue 86,454 506,982
Income taxes payable (182,562) (16,558)
Net cash used by operating activities (16,093,504) (10,051,165)
Cash Flows from Investing Activities    
Purchase of property and equipment (1,844,620) (1,069,283)
Proceeds from sale of property and equipment 554,335
Investment in MasterpieceVR (500,000) (500,000)
Investment in Virtual Driver Interactive (1,075,428)
Proceeds from sale of marketable securities 28,302,309 11,477,321
Purchase of marketable securities (19,901,897) (7,991,709)
Net cash provided by investing activities 6,610,127 840,901
Cash Flows from Financing Activities    
Proceeds from notes payable 8,000,000 5,005,000
Payments on notes payable (1,751,763) (2,220,257)
Payments on capital lease liabilities (20,061)
Payments on bank loans (1,225,700) (1,261,035)
Proceeds from Paycheck Protection Program Loans 2,942,285
Net cash provided by financing activities 5,022,537 4,445,932
Effect of currency translation (537,387) 880,834
Net decrease in cash, cash equivalents, and restricted cash (4,460,840) (4,764,332)
Cash, cash equivalents, and restricted cash at beginning of period 17,186,323 21,069,821
Cash, cash equivalents, and restricted cash at end of period 12,188,096 17,186,323
Balance Sheet Accounts Included in Cash, Cash Equivalents, and Restricted Cash    
Cash and equivalents 10,610,181 15,426,976
Restricted cash 1,577,915 1,759,347
Total cash, cash equivalents, and restricted cash 12,188,096 17,186,323
Supplemental Disclosure of Cash Flow Information:    
Cash paid during the period for interest 383,105 556,428
Cash paid during the period for income taxes 353,346 (358,876)
Supplemental Schedule of Non-Cash Investing and Financing Activities    
Investment in Virtual Driver Interactive 439,774
Shares issued to pay for services 50,000
Shares issued to pay notes payable 3,993,124 5,025,652
Shares issued in connection with note payable 700,400
Investment in right of use asset $ 317,187

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