Slinger Announces Second Quarter Fiscal 2021 Financial Results
Slinger Announces Second Quarter Fiscal 2021 Financial Results
Revenue increased 106% YoY to a record $5.4 million
收入同比增長106%，達到創紀錄的540萬美元。
BALTIMORE, Dec. 22, 2021 (GLOBE NEWSWIRE) -- Slinger (OTCQB: SLBG), a leading connected sports technology company, today announced financial results for its Q2 2021 fiscal quarter, ended October 31 2021.
巴爾的摩，2021年12月22日(環球通訊社)-斯林格(OTCQB：SLBG),一家領先的互聯體育技術公司今天公佈了截至2021年10月31日的2021財季第二季度財務業績。
"This was a momentous quarter for Slinger as we announced two transformational acquisitions that will enable the development of our Watch, Play, Learn connected technology platform strategy, while also reporting our first $5 million quarter for revenue, driven by strong Slinger Bag sales," said Mike Ballardie, Slinger CEO.
這對斯林格來説是一個重要的季度，因為我們宣佈了兩項變革性的收購，這將使我們的看，玩，學到互聯技術平臺戰略，同時報告我們第一個季度的收入為500萬美元，這得益於斯林格手袋的強勁銷售。斯林格首席執行官邁克·巴爾迪(Mike Ballardie)説。
Second Quarter Fiscal 2021 Financial Highlights (versus Fiscal 2020):
2021財年第二季度財務亮點(與2020財年相比)：
- Revenue of $5.4 million versus $2.6 million;
- Gross profit of $2.1 million versus $1.0 million;
- GAAP net loss and loss per share of ($38.8) million and ($0.95) versus ($2.5) million and ($0.10), respectively;
- Non-GAAP net loss and loss per share of ($1.1) million and ($0.03) versus ($0.2) million and ($0.01), respectively.
- 收入為540萬美元，而不是260萬美元；
- 毛利潤為210萬美元，而不是100萬美元；
- GAAP淨虧損和每股虧損分別為(3880萬美元和0.95美元)和(250萬美元和0.10美元)；
- 非GAAP淨虧損和每股虧損分別為110萬美元和0.03美元，而非GAAP淨虧損和每股虧損分別為20萬美元和0.01美元。
Second Quarter Fiscal 2021 Business Highlights:
第二個問題RTER 2021財年業務亮點：
- Announced the Watch, Play, Learn strategy driven by transformational deals to acquire PlaySight Interactive, a pioneer and leader across sports video technology, data capture, high-performance analytics and automated video production; and GAMEFACE.AI, a leading athletic performance AI company that is also building the analysis engine for the Slinger App;
- Foundation Tennis announced its partnership with Square;
- Expanded distribution into China and Brazil tennis markets;
- Partnered with the world-renowned Mouratoglou Academy and their locations in Nice, Dubai and Greece.
- 宣佈了看，玩，學到由變革性收購交易驅動的戰略PlaySight互動，體育視頻技術、數據採集、高性能分析和自動化視頻製作的先驅和領導者；以及GAMEFACE.AI，這是一家領先的運動性能人工智能公司，也在為Slinger App構建分析引擎；
- 基金會網球宣佈與Square合作；
- 擴大在中國和巴西網球市場的分銷；
- 與世界著名的Mouratoglou學院及其在尼斯、迪拜和希臘的辦事處建立了合作伙伴關係。
| Select Financial Metrics: Q2 Fiscal 2021 versus Fiscal 2020 as of 10/31/21* | ||||||
| (in $Ms) | 2Q21 | 2Q20 | Change | YTD FY21 | YTD FY20 | Change |
| Net sales | $5.4 | $2.6 | 106.1% | $7.9 | $3.2 | 149.2% |
| Gross income | $2.1 | $1.0 | 100.4% | $2.9 | $0.7 | 329.4% |
| Gross margin | 38.6% | 39.7% | 36.2% | 21.0% | ||
| GAAP operating loss | ($35.1) | ($0.2) | nm | ($37.6) | ($1.7) | nm |
| Non-GAAP operating loss | ($0.8) | ($0.1) | nm | ($2.5) | ($1.6) | nm |
| GAAP net loss | ($38.8) | ($2.5) | nm | ($42.3) | ($3.9) | nm |
| Non-GAAP net loss | ($1.1) | ($0.2) | nm | ($2.8) | ($2.0) | -40.0% |
| GAAP loss per share | ($0.95) | ($0.10) | nm | ($1.20) | ($0.15) | nm |
| Non-GAAP loss per share | ($0.03) | ($0.01) | nm | ($0.08) | ($0.07) | -14.3% |
| nm = not measurable/meaningful | ||||||
| *numbers may not add due to rounding | ||||||
| 部分財務指標：截至2021年10月31日的2021財年第二季度與2020財年* | ||||||
| (單位：毫秒) | 2Q21 | 2Q20 | 變化 | YTD FY21 | YTD FY20 | 變化 |
| 淨銷售額 | $5.4 | $2.6 | 106.1% | $7.9 | $3.2 | 149.2% |
| 毛收入 | $2.1 | $1.0 | 100.4% | $2.9 | $0.7 | 329.4% |
| 毛利率 | 38.6% | 39.7% | 36.2% | 21.0% | ||
| GAAP營業虧損 | ($35.1) | ($0.2) | NM | ($37.6) | ($1.7) | NM |
| 非GAAP營業虧損 | ($0.8) | ($0.1) | NM | ($2.5) | ($1.6) | NM |
| GAAP淨虧損 | ($38.8) | ($2.5) | NM | ($42.3) | ($3.9) | NM |
| 非GAAP淨虧損 | ($1.1) | ($0.2) | NM | ($2.8) | ($2.0) | -40.0% |
| GAAP每股虧損 | ($0.95) | ($0.10) | NM | ($1.20) | ($0.15) | NM |
| 非GAAP每股虧損 | ($0.03) | ($0.01) | NM | ($0.08) | ($0.07) | -14.3% |
| NM=不可測量/有意義 | ||||||
| *由於四捨五入，數字可能無法相加 | ||||||
We define non-GAAP operating income (loss) as the respective GAAP measure, excluding expenses related to share-based compensation, shares and warrants issued in connection of services, amortization of acquired intangible assets, and acquisition-related expenses.
我們將非GAAP營業收入(虧損)定義為各自的GAAP衡量標準，不包括與基於股份的薪酬、與服務相關的股票和認股權證、已收購無形資產的攤銷以及與收購相關的費用相關的費用。隱形眼鏡。
We define non-GAAP net income (loss) as GAAP net income (loss), excluding items used to calculate non-GAAP operating income (loss), as well as other non-cash items, including gains/losses related to:
The extinguishment of debt; the amortization of debt discounts; inducement of conversions of equity; the change in the value of derivatives that are marked-to-market quarterly; the issuance of convertible notes.
我們將非GAAP淨收益(虧損)定義為GAAP淨收益(虧損)，不包括用於計算非GAAP營業收入(虧損)的項目，以及其他非現金項目，包括與以下相關的損益：
債務的清償；債務的攤銷EBT折扣；股權轉換的誘因；按季度計價的衍生品價值變化；可轉換票據的發行。
Please see reconciliations of all non-GAAP financial measures after the financial statements.
請參閲財務報表後所有非公認會計準則財務指標的對賬。
Fiscal 2021 Commentary
2021財年評論
"As we look to the second half of the fiscal year, we have several catalysts that will bring all the pieces together to enable our Watch, Play, Learn strategy. First, we expect to close our two transformational acquisitions in the weeks to come. Next, in early Spring, we anticipate introducing both the Slinger app with its AI-driven performance analytics and our unified, connected sports platform for tennis. Finally, we will bring our Watch, Play, Learn capabilities to new market segments, led by introducing Slinger Bag ball launchers for Pickleball and Padel Tennis after these product releases.
“在我們展望下半財年時，我們有幾個催化劑，它們將把我們的”觀看、玩耍、學習“戰略整合在一起。首先，我們預計將在未來幾周內完成我們的兩筆變革性收購。接下來，在早春，我們預計將推出帶有人工智能驅動的性能分析的斯林格應用程序，以及我們統一的、聯網的網球運動平臺。最後，我們將把我們的”觀看、玩耍、學習“功能帶到新的細分市場，主要是為皮克爾球和佩德爾網球推出斯林格袋球發射器。
"Turning to our expected financial performance for fiscal year 2021, we expect revenue (not including revenue from pending acquisitions) to be $17 - $18 million, or an increase of 57% - 67% over the prior year's revenue of $10.8 million. We anticipate our adjusted EBITDA run rate to be near break-even as we exit the year. Once the GAMEFACE.AI and PlaySight deals are closed, we will update our consolidated guidance.
在談到我們2021財年的預期財務業績時，我們預計收入(不包括未決收購的收入)將為1700萬-1800萬美元，比上一財年1080萬美元的收入增長57%-67%。我們預計，當我們退出本財年時，調整後的EBITDA運行率將接近收支平衡。一旦GAMEFACE.AI和PlaySight交易完成，我們將更新我們的綜合指引。
"In conclusion, I am excited about Slinger's transformation into a sports tech business, driven by recurring SaaS, subscription and content revenue. I believe the connected sports vision we are implementing will bring our platform's unique value proposition to consumers and drive value for our shareholders in the years ahead," Ballardie concluded.
巴拉迪總結道：“總之，在經常性SaaS、訂閲和內容收入的推動下，斯林格將轉型為一家體育科技企業，我對此感到興奮。我相信，我們正在實施的互聯體育願景將為消費者帶來我們平臺獨特的價值主張，並在未來幾年為我們的股東帶來價值。”
The Slinger Bag is available to order or to find out more about Slinger Bag, visit .
斯林格袋子可供訂購或瞭解有關斯林格袋子的更多信息，請訪問。
Webcast Information
The Company will be hosting a webcast and Q&A at 10:00 a.m. Eastern Time on Wednesday, December 22, 2021. The webcast will be available at ;tp_key=c8920e3fe9.
網絡直播信息
公司將在上午10：00主持網絡直播和問答。美國東部時間2021年12月22日(星期三)。網上直播的網址是：tp_key=c8920e3fe9。
It is recommended to submit questions ahead of time to investors@slingerbag.com, but investors will also be able to submit questions through the live webcast.
建議提前向Investors@slingerbag.com提交問題，但投資者也可以通過網絡直播提交問題。
About Slinger
關於斯林格
Slinger is a new sports brand focused on delivering innovative, game improvement technologies and equipment across all ball sports categories. With the vision to become a leading connected sports company, Slinger enhances the skill and enjoyment levels of players of all ages and abilities. Slinger is initially focused on building its brand within the global tennis market through its Slinger Bag Tennis Ball Launcher and Accessories. Slinger Bag has underpinned its proof of concept with over $250M of retail value in global distribution agreements since the Spring of 2020. Slinger is primed to disrupt traditional global markets with its patented, highly transportable, and affordable Slinger Bag Launcher and its suite of connected app and SaaS services.
斯林格是一個新的運動品牌，專注於在所有球類運動中提供創新的比賽改進技術和設備。斯林格的目標是成為一家領先的互聯體育公司，提高所有年齡段和能力的球員的技能和享受水平。斯林格最初專注於通過斯林格袋子網球發射器和配件在全球網球市場建立自己的品牌。自2020年春季以來，Singer Bag在全球分銷協議中的零售價值超過2.5億美元，為其概念驗證奠定了基礎。斯林格已經準備好顛覆傳統的全球市場，它擁有專利、高度便攜、價格實惠的斯林格袋子發射器，以及一套聯網的應用程序和SaaS服務。
Forward-Looking Statements: This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company's product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statements that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions.
前瞻性陳述：本新聞稿包含“1933年證券法”第27A節和“1934年證券交易法”第21E節以及修訂後的“私人證券訴訟改革法”所指的某些前瞻性陳述，包括那些與公司的產品開發、臨牀和監管時間表、市場機會、競爭地位、可能或假設的未來經營結果、商業戰略、潛在增長機會以及其他具有預測性的陳述有關的陳述。這些前瞻性陳述是基於對我們經營的行業和市場的當前預期、估計、預測和預測，以及管理層目前的信念和假設。
These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential, "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company's filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
這些表述可以通過使用前瞻性表述來識別，包括但不限於“預期”、“預期”、“打算”、“計劃”、“相信”、“估計”、“潛在”、“預測”、“項目”、“應該”、“將會”以及類似的表述和這些術語的否定。這些陳述與未來事件或我們的財務表現有關，涉及已知和未知的風險、不確定因素和其他因素，這些風險、不確定因素和其他因素可能導致實際結果、表現或成就與前瞻性陳述明示或暗示的任何未來結果、表現或成就大不相同。這些因素包括該公司提交給證券交易委員會的文件中陳述的因素。告誡潛在投資者不要過度依賴此類前瞻性陳述，這些陳述僅在本新聞稿發佈之日發表。公司不承擔公開更新任何前瞻性陳述的義務，無論是由於新信息、未來事件還是其他原因。
Contacts:
聯繫人：
For Slinger Investor Relations inquiries, please visit , or contact investors@slingerbag.com or 443-407-7564
欲查詢斯林格投資者關係部事宜，請訪問或聯繫Investors@slingerbag.com，電子郵件：443-407-7564。
For Slinger media inquiries, please contact the press office at press@slingerbag.com 443-407-7564
斯林格媒體查詢請聯繫新聞處，電子郵件：press@slingerbag.com，電話：443-407-7564
SLINGER BAG INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
斯林格袋子公司。
壓縮合並資產負債表
| October 31, 2021 | April 30, 2021 | |||||||
| (Unaudited) | ||||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 1,747,661 | $ | 928,796 | ||||
| Accounts receivable, net | 846,529 | 762,487 | ||||||
| Inventories, net | 8,578,431 | 3,693,216 | ||||||
| Prepaid inventory | 475,913 | 140,047 | ||||||
| Loan and interest receivable | 1,435,219 | - | ||||||
| Prepaid expenses and other current assets | 110,970 | 60,113 | ||||||
| Total current assets | 13,194,723 | 5,584,659 | ||||||
| Goodwill | 1,240,000 | - | ||||||
| Other intangible assets, net | 2,290,895 | 112,853 | ||||||
| Total assets | $ | 16,725,618 | $ | 5,697,512 | ||||
| Liabilities and Shareholders' Deficit | ||||||||
| Current liabilities | ||||||||
| Accounts payable and accrued expenses | $ | 5,306,355 | $ | 2,050,476 | ||||
| Accrued payroll and bonuses | 1,210,805 | 1,283,464 | ||||||
| Deferred revenue | 71,242 | 99,531 | ||||||
| Accrued interest - related party | 821,925 | 747,636 | ||||||
| Notes payable - related party, net | - | 6,143,223 | ||||||
| Convertible notes payable, net | 2,627,778 | - | ||||||
| Derivative liabilities | 14,870,050 | 13,813,449 | ||||||
| Total current liabilities | 24,908,155 | 24,137,779 | ||||||
| Long-term liabilities | ||||||||
| Note payable, net | - | 10,477 | ||||||
| Total liabilities | 24,908,155 | 24,148,256 | ||||||
| Commitments and contingencies (Note 11) | ||||||||
| Shareholders' deficit | ||||||||
| Common stock, $0.001 par value, 300,000,000 shares authorized, 41,869,622 and 27,642,828 shares issued and outstanding as of October 31, 2021 (unaudited) and April 30, 2021, respectively; 0 and 6,921,299 shares issuable as of October 31, 2021 (unaudited) and April 30, 2021, respectively | 41,870 | 27,643 | ||||||
| Additional paid-in capital | 62,871,881 | 10,365,056 | ||||||
| Accumulated other comprehensive loss | (12,346 | ) | (20,170 | ) | ||||
| Accumulated deficit | (71,083,942 | ) | (28,823,273 | ) | ||||
| Total shareholders' deficit | (8,182,537 | ) | (18,450,744 | ) | ||||
| Total liabilities and shareholders' deficit | $ | 16,725,618 | $ | 5,697,512 | ||||
| 2021年10月31日 | 2021年4月30日 | |||||||
| (未經審計) | ||||||||
| 資產 | ||||||||
| 流動資產 | ||||||||
| 現金和現金等價物 | $ | 1,747,661 | $ | 928,796 | ||||
| 應收賬款淨額 | 846,529 | 762,487 | ||||||
| 庫存，淨額 | 8,578,431 | 3,693,216 | ||||||
| 預付庫存 | 475,913 | 140,047 | ||||||
| 應收貸款和應收利息 | 1,435,219 | - | ||||||
| 預付費用和其他流動資產 | 110,970 | 60,113 | ||||||
| 流動資產總額 | 13,194,723 | 5,584,659 | ||||||
| 商譽 | 1,240,000 | - | ||||||
| 其他無形資產，淨額 | 2,290,895 | 112,853 | ||||||
| 總資產 | $ | 16,725,618 | $ | 5,697,512 | ||||
| 負債和股東赤字 | ||||||||
| 流動負債 | ||||||||
| 應付賬款和應計費用 | $ | 5,306,355 | $ | 2,050,476 | ||||
| 應計工資和獎金 | 1,210,805 | 1,283,464 | ||||||
| 遞延收入 | 71,242 | 99,531 | ||||||
| 應計利息關聯方 | 821,925 | 747,636 | ||||||
| 應付票據-關聯方，淨額 | - | 6,143,223 | ||||||
| 可轉換應付票據，淨額 | 2,627,778 | - | ||||||
| 衍生負債 | 14,870,050 | 13,813,449 | ||||||
| 流動負債總額 | 24,908,155 | 24,137,779 | ||||||
| 長期負債 | ||||||||
| 應付票據，淨額 | - | 10,477 | ||||||
| 總負債 | 24,908,155 | 24,148,256 | ||||||
| 承付款和或有事項(附註11) | ||||||||
| 股東虧損 | ||||||||
| 截至2021年10月31日(未經審計)和2021年4月30日，普通股，面值0.001美元，授權發行3億股，已發行和已發行股票分別為41,869,622股和27,642,828股；截至2021年10月31日(未經審計)和2021年4月30日分別為0股和6,921,299股 | 41,870 | 27,643 | ||||||
| 額外實收資本 | 62,871,881 | 10,365,056 | ||||||
| 累計其他綜合損失 | (12,346 | ) | (20,170 | ) | ||||
| 累計赤字 | (71,083,942 | ) | (28,823,273 | ) | ||||
| 股東赤字總額 | (8,182,537 | ) | (18,450,744 | ) | ||||
| 總負債和股東赤字 | $ | 16,725,618 | $ | 5,697,512 | ||||
SLINGER BAG INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE LOSS
斯林格袋子公司。
未經審計的簡明合併經營報表和
綜合損失
| For the Three Months Ended | For the Six Months Ended | |||||||||||||||
| October 31, | October 31, | October 31, | October 31, | |||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||
| Net sales | $ | 5,400,542 | $ | 2,620,068 | $ | 7,938,115 | $ | 3,185,053 | ||||||||
| Cost of sales | 3,315,605 | 1,579,750 | 5,067,956 | 2,516,650 | ||||||||||||
| Gross income | 2,084,937 | 1,040,318 | 2,870,159 | 668,403 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Selling and marketing expenses | 887,809 | 397,922 | 1,594,906 | 699,940 | ||||||||||||
| General and administrative expenses | 36,197,888 | 829,510 | 38,592,687 | 1,588,778 | ||||||||||||
| Research and development costs | 103,318 | 15,439 | 277,366 | 43,549 | ||||||||||||
| Total operating expenses | 37,189,015 | 1,242,871 | 40,464,959 | 2,332,267 | ||||||||||||
| Loss from operations | (35,104,078 | ) | (202,553 | ) | (37,594,800 | ) | (1,663,864 | ) | ||||||||
| Other expense (income): | ||||||||||||||||
| Amortization of debt discounts | 2,629,069 | 52,543 | 2,650,285 | 286,251 | ||||||||||||
| Loss on extinguishment of debt | 1,978,295 | 1,999,487 | 7,096,730 | 1,432,820 | ||||||||||||
| Induced conversion loss | - | 51,412 | - | 51,412 | ||||||||||||
| Gain on change in fair value of derivatives | (4,803,569 | ) | - | (9,130,913 | ) | - | ||||||||||
| Loss on issuance of convertible notes | 3,689,369 | - | 3,689,369 | - | ||||||||||||
| Interest expense - related party | 22,495 | 144,085 | 78,728 | 316,549 | ||||||||||||
| Interest expense, net | 205,620 | 74,046 | 281,670 | 147,256 | ||||||||||||
| Total other expense | 3,721,279 | 2,321,573 | 4,665,869 | 2,234,288 | ||||||||||||
| Loss before income taxes | (38,825,357 | ) | (2,524,126 | ) | (42,260,669 | ) | (3,898,152 | ) | ||||||||
| Provision for income taxes | - | - | - | - | ||||||||||||
| Net loss | (38,825,357 | ) | (2,524,126 | ) | (42,260,669 | ) | (3,898,152 | ) | ||||||||
| Other comprehensive gain (loss), net of tax | ||||||||||||||||
| Foreign currency translation adjustments | 20,852 | (1,544 | ) | 7,824 | (2,937 | ) | ||||||||||
| Total other comprehensive gain (loss), net of tax | 20,852 | (1,544 | ) | 7,824 | (2,937 | ) | ||||||||||
| Comprehensive loss | $ | (38,804,505 | ) | $ | (2,525,670 | ) | $ | (42,252,845 | ) | $ | (3,901,089 | ) | ||||
| Net loss per share, basic and diluted | $ | (0.95 | ) | $ | (0.10 | ) | $ | (1.20 | ) | $ | (0.15 | ) | ||||
| Weighted average number of common shares outstanding, basic and diluted | 41,080,733 | 26,420,584 | 35,104,580 | 26,255,603 | ||||||||||||
| 在截至的三個月內 | 在截至的六個月內 | |||||||||||||||
| 10月31日， | 10月31日， | 10月31日， | 10月31日， | |||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||
| (未經審計) | (未經審計) | (未經審計) | (未經審計) | |||||||||||||
| 淨銷售額 | $ | 5,400,542 | $ | 2,620,068 | $ | 7,938,115 | $ | 3,185,053 | ||||||||
| 銷售成本 | 3,315,605 | 1,579,750 | 5,067,956 | 2,516,650 | ||||||||||||
| 毛收入 | 2,084,937 | 1,040,318 | 2,870,159 | 668,403 | ||||||||||||
| 運營費用： | ||||||||||||||||
| 銷售和營銷費用 | 887,809 | 397,922 | 1,594,906 | 699,940 | ||||||||||||
| 一般和行政費用 | 36,197,888 | 829,510 | 38,592,687 | 1,588,778 | ||||||||||||
| 研發成本 | 103,318 | 15,439 | 277,366 | 43,549 | ||||||||||||
| 總運營費用 | 37,189,015 | 1,242,871 | 40,464,959 | 2,332,267 | ||||||||||||
| 運營虧損 | (35,104,078 | ) | (202,553 | ) | (37,594,800 | ) | (1,663,864 | ) | ||||||||
| 其他費用(收入)： | ||||||||||||||||
| 債務折價攤銷 | 2,629,069 | 52,543 | 2,650,285 | 286,251 | ||||||||||||
| 債務清償損失 | 1,978,295 | 1,999,487 | 7,096,730 | 1,432,820 | ||||||||||||
| 感生轉換損耗 | - | 51,412 | - | 51,412 | ||||||||||||
| 衍生工具公允價值變動收益 | (4,803,569 | ) | - | (9,130,913 | ) | - | ||||||||||
| 發行可轉換票據的虧損 | 3,689,369 | - | 3,689,369 | - | ||||||||||||
| 利息支出關聯方 | 22,495 | 144,085 | 78,728 | 316,549 | ||||||||||||
| 利息支出，淨額 | 205,620 | 74,046 | 281,670 | 147,256 | ||||||||||||
| 其他費用合計 | 3,721,279 | 2,321,573 | 4,665,869 | 2,234,288 | ||||||||||||
| 所得税前虧損 | (38,825,357 | ) | (2,524,126 | ) | (42,260,669 | ) | (3,898,152 | ) | ||||||||
| 所得税撥備 | - | - | - | - | ||||||||||||
| 淨損失 | (38,825,357 | ) | (2,524,126 | ) | (42,260,669 | ) | (3,898,152 | ) | ||||||||
| 其他綜合損益，税後淨額 | ||||||||||||||||
| 外幣折算調整 | 20,852 | (1,544 | ) | 7,824 | (2,937 | ) | ||||||||||
| 扣除税後的其他綜合收益(虧損)合計 | 20,852 | (1,544 | ) | 7,824 | (2,937 | ) | ||||||||||
| 綜合損失 | $ | (38,804,505 | ) | $ | (2,525,670 | ) | $ | (42,252,845 | ) | $ | (3,901,089 | ) | ||||
| 每股基本和稀釋後淨虧損 | $ | (0.95 | ) | $ | (0.10 | ) | $ | (1.20 | ) | $ | (0.15 | ) | ||||
| 已發行普通股、基本普通股和稀釋後普通股的加權平均數 | 41,080,733 | 26,420,584 | 35,104,580 | 26,255,603 | ||||||||||||
SLINGER BAG INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
斯林格袋子公司。
未經審計的簡明合併現金流量表
| For the Six Months Ended | ||||||||
| October 31, | October 31, | |||||||
| 2021 | 2020 | |||||||
| (Unaudited) | (Unaudited) | |||||||
| Cash flows from operating activities | ||||||||
| Net loss | $ | (42,260,669 | ) | $ | (3,898,152 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Amortization expense | 131,958 | - | ||||||
| Gain on change in fair value of derivatives | (9,130,913 | ) | - | |||||
| Shares and warrants issued in connection with services | 1,417,728 | 183,845 | ||||||
| Share-based compensation | 32,569,112 | - | ||||||
| Loss on extinguishment of debt | 7,096,730 | 1,432,820 | ||||||
| Induced conversion loss | - | 51,412 | ||||||
| Amortization of debt discounts | 2,650,285 | 286,251 | ||||||
| Loss on issuance of convertible notes | 3,689,369 | - | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable, net | (84,262 | ) | (353,505 | ) | ||||
| Inventories, net | (4,886,227 | ) | (993,049 | ) | ||||
| Prepaid expenses and other current assets | (422,119 | ) | 110,455 | |||||
| Accounts payable and accrued expenses | 3,256,234 | 327,579 | ||||||
| Accrued payroll and bonuses | (72,659 | ) | 361,608 | |||||
| Deferred revenue | (28,289 | ) | 630,148 | |||||
| Accrued interest - related party | 74,289 | 316,549 | ||||||
| Net cash used in operating activities | (5,999,433 | ) | (1,544,039 | ) | ||||
| Cash flows from investing activities | ||||||||
| Note receivable issuance | (1,400,000 | ) | - | |||||
| Net cash used in investing activities | (1,400,000 | ) | - | |||||
| Cash flows from financing activities | ||||||||
| Proceeds from convertible notes payable | 11,000,000 | - | ||||||
| Debt issuance costs related to convertible notes payable | (800,251 | ) | - | |||||
| Proceeds from notes payable – related party | 1,000,000 | 2,000,000 | ||||||
| Repayments of notes payable – related party | (1,000,000 | ) | - | |||||
| Repayment of note payable | (2,000,000 | ) | - | |||||
| Proceeds from note payable | - | 120,000 | ||||||
| Other financing activities | 9,671 | - | ||||||
| Net cash provided by financing activities | 8,209,420 | 2,120,000 | ||||||
| Effect of exchange rate fluctuations on cash and cash equivalents | 8,878 | (2,937 | ) | |||||
| Net change in cash and cash equivalents | 818,865 | 573,024 | ||||||
| Cash and cash equivalents, beginning of the period | 928,796 | 79,847 | ||||||
| Cash and cash equivalents, end of the period | $ | 1,747,661 | $ | 652,871 | ||||
| Supplemental disclosure of cash flow information | ||||||||
| Interest paid | $ | 111,105 | $ | 140,180 | ||||
| Income taxes paid | 3,896 | - | ||||||
| Supplemental disclosure of non-cash investing and financing activities | ||||||||
| Shares issued for conversion of notes payable – related party | $ | 6,220,003 | $ | - | ||||
| Shares issued in connection with acquisition | 3,550,000 | - | ||||||
| Elimination of related party derivative liabilities | 8,754,538 | - | ||||||
| Derivative liabilities recorded as debt discounts of convertible notes | 10,199,749 | - | ||||||
| Conversion of note payable and accrued interest into common stock | - | 187,037 | ||||||
| Warrants issued with note payable | - | 70,130 | ||||||
| 在截至的六個月內 | ||||||||
| 10月31日， | 10月31日， | |||||||
| 2021 | 2020 | |||||||
| (未經審計) | (未經審計) | |||||||
| 經營活動的現金流 | ||||||||
| 淨損失 | $ | (42,260,669 | ) | $ | (3,898,152 | ) | ||
| 對淨虧損與經營活動中使用的現金淨額進行調整： | ||||||||
| 攤銷費用 | 131,958 | - | ||||||
| 衍生工具公允價值變動收益 | (9,130,913 | ) | - | |||||
| 與服務相關而發行的股份及認股權證 | 1,417,728 | 183,845 | ||||||
| 基於股份的薪酬 | 32,569,112 | - | ||||||
| 債務清償損失 | 7,096,730 | 1,432,820 | ||||||
| 感生轉換損耗 | - | 51,412 | ||||||
| 債務折價攤銷 | 2,650,285 | 286,251 | ||||||
| 發行可轉換票據的虧損 | 3,689,369 | - | ||||||
| 營業資產和負債變動情況： | ||||||||
| 應收賬款淨額 | (84,262 | ) | (353,505 | ) | ||||
| 庫存，淨額 | (4,886,227 | ) | (993,049 | ) | ||||
| 預付費用和其他流動資產 | (422,119 | ) | 110,455 | |||||
| 應付賬款和應計費用 | 3,256,234 | 327,579 | ||||||
| 應計工資和獎金 | (72,659 | ) | 361,608 | |||||
| 遞延收入 | (28,289 | ) | 630,148 | |||||
| 應計利息關聯方 | 74,289 | 316,549 | ||||||
| 用於經營活動的現金淨額 | (5,999,433 | ) | (1,544,039 | ) | ||||
| 投資活動的現金流 | ||||||||
| 應收票據發行 | (1,400,000 | ) | - | |||||
| 用於投資活動的淨現金 | (1,400,000 | ) | - | |||||
| 融資活動的現金流 | ||||||||
| 可轉換應付票據收益 | 11,000,000 | - | ||||||
| 與可轉換應付票據相關的債務發行成本 | (800,251 | ) | - | |||||
| 應付票據收益-關聯方 | 1,000,000 | 2,000,000 | ||||||
| 應付票據的償還-關聯方 | (1,000,000 | ) | - | |||||
| 應付票據的償還 | (2,000,000 | ) | - | |||||
| 應付票據收益 | - | 120,000 | ||||||
| 其他融資活動 | 9,671 | - | ||||||
| 融資活動提供的現金淨額 | 8,209,420 | 2,120,000 | ||||||
| 匯率波動對現金及現金等價物的影響 | 8,878 | (2,937 | ) | |||||
| 現金和現金等價物淨變化 | 818,865 | 573,024 | ||||||
| 期初現金和現金等價物 | 928,796 | 79,847 | ||||||
| 期末現金和現金等價物 | $ | 1,747,661 | $ | 652,871 | ||||
| 補充披露現金流量信息 | ||||||||
| 支付的利息 | $ | 111,105 | $ | 140,180 | ||||
| 已繳所得税 | 3,896 | - | ||||||
| 補充披露非現金投融資活動 | ||||||||
| 為轉換應付票據而發行的股份-關聯方 | $ | 6,220,003 | $ | - | ||||
| 與收購相關而發行的股份 | 3,550,000 | - | ||||||
| 關聯方衍生負債的消除 | 8,754,538 | - | ||||||
| 衍生負債記為可轉換票據的債務折價 | 10,199,749 | - | ||||||
| 將應付票據和應計利息轉換為普通股 | - | 187,037 | ||||||
| 憑應付票據發行的認股權證 | - | 70,130 | ||||||
Non-GAAP Financial Measures
非GAAP財務指標
In addition to our financial information presented in accordance with GAAP, we believe the following non-GAAP financial measures are useful in evaluating our operating performance. We use the following non-GAAP financial measures, collectively, to evaluate our ongoing operations and for internal planning and forecasting purposes, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies, and to communicate with our board of directors concerning our financial performance. We believe that non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, may be helpful to investors because they provide consistency and comparability with past financial performance and meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our business, results of operations, or outlook. The non-GAAP financial measures are presented for supplemental informational purposes only, have limitations as analytical tools, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP and may be different from similarly-titled non-GAAP financial measures used by other companies. In addition, other companies, including companies in our industry, may calculate similarly-titled non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, and not to rely on any single financial measure to evaluate our business, which it includes in press releases announcing quarterly financial results, including this press release.
除了我們根據GAAP提供的財務信息外，我們認為以下非GAAP財務指標在評估我們的經營業績時是有用的。我們使用以下非GAAP財務指標來評估我們正在進行的業務，並用於內部計劃和預測目的，包括編制我們的年度運營預算和季度預測，評估我們業務戰略的有效性，並就我們的財務業績與我們的董事會進行溝通。我們相信，當非GAAP財務指標與相應的GAAP財務指標結合使用時，可能會對投資者有所幫助，因為它們提供了與過去財務業績的一致性和可比性，並通過排除某些可能不能反映我們的業務、經營結果或前景的項目，提供了有關我們業績的有意義的補充信息。非GAAP財務指標僅供補充信息之用，作為分析工具有其侷限性，不應孤立地考慮或作為根據GAAP提供的財務信息的替代品，可能與其他公司使用的名稱類似的非GAAP財務指標不同。此外，其他公司，包括我們行業的公司，可能會以不同的方式計算類似名稱的非GAAP財務衡量標準，或者可能使用其他衡量標準來評估它們的業績，所有這些都可能降低我們的非GAAP財務衡量標準作為比較工具的有效性。我們鼓勵投資者審查相關的GAAP財務指標，以及這些非GAAP財務指標與其最直接可比的GAAP財務指標的協調情況，不要依賴任何單一的財務指標來評估我們的業務。, 它包括在宣佈季度財務業績的新聞稿中，包括本新聞稿。
We define non-GAAP operating income (loss) as the respective GAAP measure, excluding expenses related to share-based compensation, shares and warrants issued in connection of services, amortization of acquired intangible assets, and acquisition-related expenses.
我們將非GAAP營業收入(虧損)定義為各自的GAAP計量，不包括與以股份為基礎的薪酬、與服務有關的股票和認股權證、已收購無形資產的攤銷以及與收購相關的費用相關的費用。
We define non-GAAP net income (loss) as GAAP net income (loss), excluding items used to calculate non-GAAP operating income (loss), as well as other non-cash items, including gains/losses related to:
我們將非GAAP淨收益(虧損)定義為GAAP淨收益(虧損)，不包括用於計算非GAAP營業收入(虧損)的項目，以及其他非現金項目，包括與以下相關的損益：
- The extinguishment of debt; the amortization of debt discounts; inducement of conversions of equity; the change in the value of derivatives that are marked-to-market quarterly; the issuance of convertible notes.
- 債務的清償；債務折價的攤銷；股權轉換的誘因；按季度計價的衍生品價值的變化；可轉換票據的發行。
| Reconciliation of GAAP to Non-GAAP Operating Loss | 2Q21 | 2Q20 | YTD FY21 | YTD FY20 |
| GAAP Operating Loss | ($35.1) | ($0.2) | ($37.6) | ($1.7) |
| Excluding: | ||||
| Share-based compensation | $32.4 | - | $32.6 | - |
| Shares and warrants issued in connection with services | $0.8 | $0.1 | $1.4 | $0.1 |
| Amortization of acquired intangible assets | $0.1 | - | $0.1 | - |
| Acquisition-related expenses | $1.0 | - | $1.0 | - |
| Non-GAAP Operating Loss | ($0.8) | ($0.1) | ($2.5) | ($1.6) |
| GAAP與非GAAP營業虧損的對賬 | 2Q21 | 2Q20 | YTD FY21 | YTD FY20 |
| GAAP營業虧損 | ($35.1) | ($0.2) | ($37.6) | ($1.7) |
| 不包括： | ||||
| 基於股份的薪酬 | $32.4 | - | $32.6 | - |
| 與服務相關而發行的股份及認股權證 | $0.8 | $0.1 | $1.4 | $0.1 |
| 已取得無形資產的攤銷 | $0.1 | - | $0.1 | - |
| 收購相關費用 | $1.0 | - | $1.0 | - |
| 非GAAP營業虧損 | ($0.8) | ($0.1) | ($2.5) | ($1.6) |
| Reconciliation of GAAP to Non-GAAP Net Loss and Loss Per Share | 2Q21 | 2Q20 | YTD FY21 | YTD FY20 |
| GAAP Net Loss | ($38.8) | ($2.5) | ($42.3) | ($3.9) |
| Excluding the Following Other Expenses (Income): | ||||
| Amortization of debt discounts | $2.6 | $0.1 | $2.7 | $0.3 |
| Loss on extinguishment of debt | $2.0 | $2.0 | $7.1 | $1.4 |
| Induced conversion loss | - | $0.1 | - | $0.1 |
| Gain on change in fair value of derivatives | ($4.8) | - | ($9.1) | - |
| Loss on issuance of convertible notes | $3.7 | - | $3.7 | - |
| Excluding the Following Operating Expenses: | ||||
| Share-based compensation | $32.4 | - | $32.6 | - |
| Shares and warrants issued in connection with services | $0.8 | $0.1 | $1.4 | $0.1 |
| Amortization of acquired intangible assets | $0.1 | - | $0.1 | - |
| Acquisition-related expenses | $1.0 | - | $1.0 | - |
| Non-GAAP net loss | ($1.1) | ($0.2) | ($2.8) | ($2.0) |
| Non-GAAP loss per share | ($0.03) | ($0.01) | ($0.08) | ($0.07) |
| GAAP與非GAAP淨虧損和每股虧損的對賬 | 2Q21 | 2Q20 | YTD FY21 | YTD FY20 |
| GAAP淨虧損 | ($38.8) | ($2.5) | ($42.3) | ($3.9) |
| 不包括下列其他費用(收入)： | ||||
| 債務折價攤銷 | $2.6 | $0.1 | $2.7 | $0.3 |
| 債務清償損失 | $2.0 | $2.0 | $7.1 | $1.4 |
| 感生轉換損耗 | - | $0.1 | - | $0.1 |
| 衍生工具公允價值變動收益 | ($4.8) | - | ($9.1) | - |
| 發行可轉換票據的虧損 | $3.7 | - | $3.7 | - |
| 不包括以下運營費用： | ||||
| 基於股份的薪酬 | $32.4 | - | $32.6 | - |
| 與服務相關而發行的股份及認股權證 | $0.8 | $0.1 | $1.4 | $0.1 |
| 已取得無形資產的攤銷 | $0.1 | - | $0.1 | - |
| 收購相關費用 | $1.0 | - | $1.0 | - |
| 非GAAP淨虧損 | ($1.1) | ($0.2) | ($2.8) | ($2.0) |
| 非GAAP每股虧損 | ($0.03) | ($0.01) | ($0.08) | ($0.07) |