BALTIMORE, March 21, 2022 (GLOBE NEWSWIRE) -- - Slinger (OTCQB:SLBG), a leading connected sports technology company, today announced financial results for its third-quarter fiscal 2021, ended January 31, 2022.
巴尔的摩，2022年3月21日（环球通讯社）——领先的互联体育科技公司斯林格（OTCQB: SLBG）今天公布了截至2022年1月31日的2021财年第三季度财务业绩。
"We delivered a solid quarter, selling over 7,200 Slinger Bag launchers despite macro headwinds," said Mike Ballardie, Slinger CEO. "Revenue comparisons to the third quarter of 2020 were skewed due to a backlog buildup of $700,000 in orders last year related to demand outstripping supply in the first and second quarters of 2020. Excluding this, quarterly revenue would have been up approximately 23% from last year. Margins were also restrained this quarter due to increased global logistics costs related to inbound freight from China as we built up inventory ahead of the Chinese New Year and the impact of our increased promotions around the holidays.
斯林格首席执行官迈克·巴拉迪表示：“尽管存在宏观不利因素，但我们的季度表现稳健，销售了超过7,200个Slinger Bag发射器。”“由于去年积压了70万美元的订单，与2020年第一和第二季度的需求超过供应有关，与2020年第三季度的收入比较出现了偏差。不包括这些，季度收入将比去年增长约23％。由于我们在农历新年前积累了库存，以及假日前后促销活动增加的影响，与来自中国的入境货运相关的全球物流成本增加，本季度的利润率也受到限制。
"Year-to-date revenue growth has been strong at over 66%, demonstrating continued global demand for the Slinger Bag launcher which has sold 20,000 units through the end of the third quarter versus approximately 19,000 for all of fiscal 2020."
“今年迄今为止，收入增长强劲，超过66％，这表明全球对Slinger Bag发射器的持续需求，该发射器截至第三季度末已售出2万台，而2020财年全年约为19,000台。”
Fiscal 2021 Commentary
2021财年评论
Ballardie continued, "We closed the transformational PlaySight and GAMEFACE.AI acquisitions at the beginning of the fourth quarter that will now enable our 'Watch, Play, Learn' strategy and transform Slinger into a truly connected sports technology company. We are working to quickly integrate the technologies and launch this connected platform, starting with our new app in the coming few months. In addition, we have been working to identify financial synergies across the new group, and we expect to see the early signs of these during the fourth quarter. Still, the majority of the benefit will be in fiscal 2022. For the fourth quarter, given the uncertainty around global macro events, including the ongoing impact of COVID on core distribution markets such as South Africa, India and China, the ongoing conflict in Ukraine and inflation, we are taking a more cautious view on our sales forecasts for the Slinger Bag launcher over the near-term. As such, we are looking to total revenue for fiscal 2021 to be in the $16 - 17 million range, representing 48 - 57% growth year-on-year."
巴拉迪继续说：“我们在第四季度初完成了对PlaySight和 GAMEFACE.AI 的变革性收购，这将使我们的'观看、游戏、学习'战略得以实现，并将Slinger转变为一家真正互联的体育科技公司。我们正在努力快速整合这些技术并推出这个互联平台，首先是在未来几个月内推出我们的新应用程序。此外，我们一直在努力确定新集团的财务协同效应，我们预计将在第四季度看到这些协同效应的早期迹象。尽管如此，大部分收益仍将出现在2022财年。对于第四季度，鉴于全球宏观事件的不确定性，包括COVID对南非、印度和中国等核心分销市场的持续影响，乌克兰的持续冲突和通货膨胀，我们对Slinger Bag发射机的短期销售预测采取更加谨慎的看法。因此，我们预计2021财年的总收入将在1,600万至1700万美元之间，同比增长48-57％。”
Fiscal 2022 Commentary and Strategic Update
2022财年评论和战略更新
"Looking forward to fiscal 2022, we have several products and initiatives that we expect to impact the business positively. Over the next few weeks, we are targeting the next phase of our 'Watch, Play, Learn' strategy with the beta release of the Slinger App powered by the GAMEFACE.AI artificial intelligence engine. The Slinger App will provide unique artificial intelligence-driven player analysis coupled with professional-level insights and drills to improve the performance of tennis players of all abilities. When this product is released commercially, it will be available for both iOS and Android in both a free version and a multi-tiered subscription offering.
“展望2022财年，我们有几种产品和举措预计将对业务产生积极影响。在接下来的几周内，我们的目标是 “观看、游戏、学习” 策略的下一阶段，发布由 GAMEFACE.AI 人工智能引擎提供支持的 Slinger 应用程序的测试版。Slinger 应用程序将提供独特的人工智能驱动的选手分析，以及专业级别的见解和训练，以提高各种能力的网球运动员的表现。当该产品商业发布时，它将以免费版本和多层订阅的形式在iOS和Android上提供。
"Around this fall, we are targeting the introduction of the Slinger Bag launcher for both the Pickleball and Padel markets. These products are already in global markets for final consumer testing, and the feedback to date is incredibly positive for both sports. Additionally, while the consolidated company works towards developing our connected platform, each entity will continue to build its existing business around recurring SaaS, services and device revenue. Early indications are that we will continue our aggressive revenue growth trajectory for fiscal 2022, of which around one-third should be recurring SaaS and Services revenue. Our objective as a business will be to end fiscal 2022, at a break-even adjusted EBITDA run rate," concluded Ballardie.
“今年秋天左右，我们的目标是为Pickleball和Padel市场推出Slinger Bag发射器。这些产品已经进入全球市场进行最终消费者测试，迄今为止，这两项运动的反馈都非常积极。此外，在合并后的公司努力开发我们的互联平台的同时，每个实体将继续围绕经常性SaaS、服务和设备收入建立其现有业务。早期迹象表明，我们将延续2022财年的激进收入增长轨迹，其中约三分之一应为经常性SaaS和服务收入。作为一家企业，我们的目标将是在2022财年结束时保持盈亏平衡调整后的息税折旧摊销前利润率，” 巴拉迪总结道。
Third Quarter Fiscal 2021 Financial Highlights (versus Fiscal 2020):
2021财年第三季度财务摘要（对比2020财年）：
- Revenue of $4.2 million versus $4.1 million;
- Gross profit of $1.0 million versus $0.9 million;
- GAAP net loss and loss per share of ($2.4) million and ($0.06) versus ($1.3) million and ($0.05), respectively;
- Non-GAAP net loss and loss per share of ($2.3) million and ($0.05) versus ($0.7) million and ($0.02), respectively.
- 收入为420万美元，而收入为410万美元；
- 毛利为100万美元，而毛利为90万美元；
- GAAP每股净亏损和亏损分别为（240万美元）和（0.06美元），对比（130万美元）和（0.05美元）；
- 非公认会计准则每股净亏损和亏损分别为（230万美元）和（0.05美元），对比（70万美元）和（0.02美元）。
Third Quarter Fiscal 2021 Business Highlights:
2021财年第三季度业务亮点：
- Signed Exclusive 4-Year Global Tennis Ball Partnership Agreement with Dunlop;
- Racquet Sports Industry Magazine Recognized Slinger CEO Mike Ballardie as Business Executive of the Year;
- Extended Asia Distribution Agreement with Tennis Bot in the Philippines and Indonesia;
- Framework Sports, Slinger's UK distributor, expanded its distribution into Poland;
- Expanded distribution into Ecuador;
- Expanded distribution to Puerto Rico;
- Expanded distribution to Romania.
- 与邓禄普签订了为期4年的全球网球独家合作协议；
- 《球拍体育行业》杂志将斯林格首席执行官迈克·巴拉迪评为年度最佳企业高管；
- 与菲律宾和印度尼西亚的Tennis Bot签订的延长亚洲分销协议；
- 斯林格的英国分销商Framework Sports将其分销范围扩大到波兰；
- 将分销范围扩大到厄瓜多尔；
- 将分销范围扩大到波多黎各；
- 将分销范围扩大到罗马尼亚。
Year-to-date Fiscal 2021 Financial Highlights (versus Fiscal 2020):
2021财年迄今为止的财务摘要（与2020财年相比）：
- Revenue of $12.1 million versus $7.3 million;
- Gross profit of $3.8 million versus $1.5 million;
- GAAP net loss and loss per share of ($44.6) million and ($1.19) versus ($5.2) million and ($0.20), respectively;
- Non-GAAP net loss and loss per share of ($4.8) million and ($0.13) versus ($2.1) million and ($0.08), respectively.
- 收入为1,210万美元，而收入为730万美元；
- 毛利为380万美元，而毛利为150万美元；
- GAAP每股净亏损和亏损分别为（4,460万美元）和（1.19美元），对比（520万美元）和（0.20美元）；
- 非公认会计准则每股净亏损和亏损分别为（480万美元）和（0.13美元），而（210万美元）和（0.08美元）。
We define non-GAAP net loss as GAAP net loss, excluding items used to calculate non-GAAP operating loss, which include share-based compensation, shares and warrants issued in connection with services, amortization of acquired intangible assets, and acquisition-related expenses as well as other non-cash items, including gains/losses related to:
我们将非公认会计准则净亏损定义为公认会计准则净亏损，不包括用于计算非公认会计准则营业亏损的项目，其中包括基于股份的薪酬、与服务相关的股票和认股权证、收购无形资产的摊销、收购相关费用以及其他非现金项目，包括与以下内容相关的收益/亏损：
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; and interest expense. Please see reconciliations of all non-GAAP financial measures after the financial statements.
债务的清偿；债务折扣的摊销；鼓励股权转换；按季度计价的衍生品价值的变化；可转换票据的发行；和利息支出。请在财务报表后查看所有非公认会计准则财务指标的对账表。
The Slinger Bag is available to order through or to find out more about Slinger Bag, visit
Slinger Bag 可通过以下方式订购，或者要了解有关 Slinger Bag 的更多信息，请访问
Webcast Information
网络直播信息
The Company will be hosting a webcast to review its 3rd Fiscal Quarter Results. 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.
该公司将主持网络直播以审查其3项第三方 财政季度业绩。建议提前向 investors@slingerbag.com 提交问题，但投资者也可以通过网络直播提交问题。
Slinger 3rdQuarter Fiscal 2021 Earnings Results Webcast
Date: Wednesday, March 23, 2022
Time: 10:00 AM EDT
Participant Link:
投石者 3第三方2021财年季度收益业绩网络直播
日期：2022年3月23日星期三
时间：美国东部时间上午 10:00
参与者链接：
About Slinger:
关于 Slinger：
Slinger is a connected sports company delivering products and technologies across the 'Watch, Play, Learn' commercial activities of sport. Slinger makes sports more fun, accessible and connected through its ball launchers, AI technology, performance video, live streaming and club management software capabilities.
Slinger是一家互联体育公司，为体育的 “观看、游戏、学习” 商业活动提供产品和技术。Slinger 通过其球发射器、人工智能技术、表演视频、直播和俱乐部管理软件功能，让体育运动变得更有趣、更易上手、更互联互通。
Slinger initially built its brand in the global tennis market, through its revolutionary Slinger Tennis Ball Launcher and accessories, with over $250 million of retail value in global distribution agreements and has grown to become one of the world's largest connected sports companies with its acquisitions of PlaySight Interactive, GAMEFACE.AI and Foundation Tennis. With its enhanced product, performance video and live streaming media capabilities, Slinger has positioned itself as an industry-leading, disruptive company in the global sports market.
斯林格最初通过其革命性的Slinger Tennis Ball Launcher和配件在全球网球市场建立了自己的品牌，在全球分销协议中零售价值超过2.5亿美元，并通过收购PlaySight Interactive、GAMEFACE.AI 和Foundation Tennis发展成为全球最大的互联体育公司之一。凭借其增强的产品、高性能视频和直播媒体功能，Slinger已将自己定位为全球体育市场行业领先的颠覆性公司。
Forward-Looking Statements:
前瞻性陈述：
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.
本新闻稿包含1933年《证券法》第27A条、1934年《证券交易法》和经修订的私人证券诉讼改革法第21E条所指的某些前瞻性陈述，包括与公司产品开发、临床和监管时间表、市场机会、竞争地位、可能或假设的未来有关的前瞻性陈述 经营业绩、业务战略、潜在增长机会和其他本质上具有预测性的陈述。这些前瞻性陈述基于当前对我们经营的行业和市场的预期、估计、预测和预测以及管理层当前的信念和假设。
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.
这些陈述可以通过使用前瞻性表达来识别，包括但不限于 “期望”、“预期”、“打算”、“计划”、“相信”、“估计”、“潜力”、“预测”、“项目”、“应该”、“将” 以及类似的表达方式以及这些术语的否定词。这些陈述与未来事件或我们的财务业绩有关，涉及已知和未知的风险、不确定性和其他因素，这些因素可能导致实际业绩、业绩或成就与前瞻性陈述所表达或暗示的任何未来业绩、业绩或成就存在重大差异。这些因素包括公司向美国证券交易委员会提交的文件中列出的因素。提醒潜在投资者不要过分依赖此类前瞻性陈述，这些陈述仅代表截至本新闻稿发布之日。公司没有义务公开更新任何前瞻性陈述，无论是由于新信息、未来事件还是其他原因。
Contacts:
联系人：
For Slinger Investor Relations inquiries, please visit , or contact investors@slingerbag.com or 443-407-7564
如需咨询 Slinger 投资者关系，请访问或联系 investors@slingerbag.com 或 443-407-7564
For Slinger media inquiries, please contact the press office at press@slingerbag.com or 443-407-7564
如需咨询 Slinger 的媒体信息，请致电 press@slingerbag.com 或 443-407-7564 联系新闻办公室
SLINGER BAG INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
SLINGER BAG INC.
简明的合并资产负债表
| January 31, 2022 | April 30, 2021 | |||||||
| (Unaudited) | ||||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 1,082,446 | $ | 928,796 | ||||
| Accounts receivable, net | 1,209,253 | 762,487 | ||||||
| Inventories, net | 8,669,721 | 3,693,216 | ||||||
| Prepaid inventory | 1,777,905 | 140,047 | ||||||
| Loan and interest receivable | 2,355,349 | - | ||||||
| Prepaid expenses and other current assets | 99,785 | 60,113 | ||||||
| Total current assets | 15,194,459 | 5,584,659 | ||||||
| Goodwill | 1,240,000 | - | ||||||
| Other intangible assets, net | 2,200,105 | 112,853 | ||||||
| Total assets | $ | 18,634,564 | $ | 5,697,512 | ||||
| Liabilities and Shareholders' Deficit | ||||||||
| Current liabilities | ||||||||
| Accounts payable and accrued expenses | $ | 7,942,523 | $ | 2,050,476 | ||||
| Accrued payroll and bonuses | 1,612,531 | 1,283,464 | ||||||
| Deferred revenue | 18,508 | 99,531 | ||||||
| Accrued interest - related party | 850,092 | 747,636 | ||||||
| Notes payable - related party, net | 2,000,000 | 6,143,223 | ||||||
| Convertible notes payable, net | 7,577,778 | - | ||||||
| Derivative liabilities | 8,926,083 | 13,813,449 | ||||||
| Total current liabilities | 28,927,515 | 24,137,779 | ||||||
| Long-term liabilities | ||||||||
| Note payable, net | - | 10,477 | ||||||
| Total liabilities | 28,927,515 | 24,148,256 | ||||||
| Commitments and contingencies | ||||||||
| Shareholders' deficit | ||||||||
| Common stock, $0.001 par value, 300,000,000 shares authorized, 41,888,372 and 27,642,828 shares issued and outstanding as of January 31, 2022 (unaudited) and April 30, 2021, respectively; 0 and 6,921,299 shares issuable as of January 31, 2022 (unaudited) and April 30, 2021, respectively | 41,888 | 27,643 | ||||||
| Additional paid-in capital | 63,166,203 | 10,365,056 | ||||||
| Accumulated other comprehensive loss | (46,976 | ) | (20,170 | ) | ||||
| Accumulated deficit | (73,454,066 | ) | (28,823,273 | ) | ||||
| Total shareholders' deficit | (10,292,951 | ) | (18,450,744 | ) | ||||
| Total liabilities and shareholders' deficit | $ | 18,634,564 | $ | 5,697,512 | ||||
| 2022年1月31日 | 2021年4月30日 | |||||||
| （未经审计） | ||||||||
| 资产 | ||||||||
| 流动资产 | ||||||||
| 现金和现金等价物 | $ | 1,082,446 | $ | 928,796 | ||||
| 应收账款，净额 | 1,209,253 | 762,487 | ||||||
| 库存，净额 | 8,669,721 | 3,693,216 | ||||||
| 预付库存 | 1,777,905 | 140,047 | ||||||
| 应收贷款和利息 | 2,355,349 | - | ||||||
| 预付费用和其他流动资产 | 99,785 | 60,113 | ||||||
| 流动资产总额 | 15,194,459 | 5,584,659 | ||||||
| 善意 | 1,240,000 | - | ||||||
| 其他无形资产，净额 | 2,200,105 | 112,853 | ||||||
| 总资产 | $ | 18,634,564 | $ | 5,697,512 | ||||
| 负债和股东赤字 | ||||||||
| 流动负债 | ||||||||
| 应付账款和应计费用 | $ | 7,942,523 | $ | 2,050,476 | ||||
| 应计工资和奖金 | 1,612,531 | 1,283,464 | ||||||
| 递延收入 | 18,508 | 99,531 | ||||||
| 应计利息-关联方 | 850,092 | 747,636 | ||||||
| 应付票据——关联方，净额 | 2,000,000 | 6,143,223 | ||||||
| 可转换应付票据，净额 | 7,577,778 | - | ||||||
| 衍生负债 | 8,926,083 | 13,813,449 | ||||||
| 流动负债总额 | 28,927,515 | 24,137,779 | ||||||
| 长期负债 | ||||||||
| 应付票据，净额 | - | 10,477 | ||||||
| 负债总额 | 28,927,515 | 24,148,256 | ||||||
| 承付款和意外开支 | ||||||||
| 股东赤字 | ||||||||
| 普通股，面值0.001美元，授权3亿股，截至2022年1月31日（未经审计）和2021年4月30日分别发行和流通41,888,372和27,642,828股；截至2022年1月31日（未经审计）和2021年4月30日分别有0股和6,921,299股可发行股票 | 41,888 | 27,643 | ||||||
| 额外的实收资本 | 63,166,203 | 10,365,056 | ||||||
| 累计其他综合亏损 | (46,976) | ) | (20,170 | ) | ||||
| 累计赤字 | (73,454,066) | ) | (28,823,273 | ) | ||||
| 股东赤字总额 | (10,292,951) | ) | (18,450,744) | ) | ||||
| 负债总额和股东赤字 | $ | 18,634,564 | $ | 5,697,512 | ||||
SLINGER BAG INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE LOSS
SLINGER BAG INC.
未经审计的简明合并运营报表以及
综合损失
| For the Three Months Ended | For the Nine Months Ended | |||||||||||||||
| January 31, | January 31, | January 31, | January 31, | |||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||
| Net sales | $ | 4,201,745 | $ | 4,123,648 | $ | 12,139,860 | $ | 7,308,701 | ||||||||
| Cost of sales | 3,234,430 | 3,245,493 | 8,302,386 | 5,762,143 | ||||||||||||
| Gross income | 967,315 | 878,155 | 3,837,474 | 1,546,558 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Selling and marketing expenses | 920,161 | 351,845 | 2,515,067 | 1,051,785 | ||||||||||||
| General and administrative expenses | 2,942,501 | 1,385,626 | 41,535,188 | 2,974,404 | ||||||||||||
| Research and development costs | 275,908 | 137,156 | 553,274 | 180,705 | ||||||||||||
| Total operating expenses | 4,138,570 | 1,874,627 | 44,603,529 | 4,206,894 | ||||||||||||
| Loss from operations | (3,171,255 | ) | (996,472 | ) | (40,766,055 | ) | (2,660,336 | ) | ||||||||
| Other expense (income): | ||||||||||||||||
| Amortization of debt discounts | 2,750,000 | 39,175 | 5,400,285 | 325,426 | ||||||||||||
| Loss on extinguishment of debt | - | 95,760 | 7,096,730 | 1,528,580 | ||||||||||||
| Induced conversion loss | - | - | - | 51,412 | ||||||||||||
| Gain on change in fair value of derivatives | (5,943,967 | ) | - | (15,074,880 | ) | - | ||||||||||
| Loss on issuance of convertible notes | 2,200,000 | - | 5,889,369 | - | ||||||||||||
| Interest expense - related party | 28,167 | 137,480 | 106,895 | 454,029 | ||||||||||||
| Interest expense, net | 164,669 | 22,199 | 446,339 | 169,455 | ||||||||||||
| Total other expense (income) | (801,131 | ) | 294,614 | 3,864,738 | 2,528,902 | |||||||||||
| Loss before income taxes | (2,370,124 | ) | (1,291,086 | ) | (44,630,793 | ) | (5,189,238 | ) | ||||||||
| Provision for income taxes | - | - | - | - | ||||||||||||
| Net loss | (2,370,124 | ) | (1,291,086 | ) | (44,630,793 | ) | (5,189,238 | ) | ||||||||
| Other comprehensive gain (loss), net of tax | ||||||||||||||||
| Foreign currency translation adjustments | (34,630 | ) | 816 | (26,806 | ) | (2,121 | ) | |||||||||
| Total other comprehensive gain (loss), net of tax | (34,630 | ) | 816 | (26,806 | ) | (2,121 | ) | |||||||||
| Comprehensive loss | $ | (2,404,754 | ) | $ | (1,290,270 | ) | $ | (44,657,599 | ) | $ | (5,191,359 | ) | ||||
| Net loss per share, basic and diluted | $ | (0.06 | ) | $ | (0.05 | ) | $ | (1.19 | ) | $ | (0.20 | ) | ||||
| Weighted average number of common shares outstanding, basic and diluted | 41,873,698 | 26,795,030 | 37,360,953 | 26,497,184 | ||||||||||||
| 在已结束的三个月中 | 在结束的九个月里 | |||||||||||||||
| 1月31日 | 1月31日 | 1月31日 | 1月31日 | |||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||
| （未经审计） | （未经审计） | （未经审计） | （未经审计） | |||||||||||||
| 净销售额 | $ | 4,201,745 | $ | 4,123,648 | $ | 12,139,860 | $ | 7,308,701 | ||||||||
| 销售成本 | 3,234,430 | 3,245,493 | 8,302,386 | 5,762,143 | ||||||||||||
| 总收入 | 967,315 | 878,155 | 3,837,474 | 1,546,558 | ||||||||||||
| 运营费用： | ||||||||||||||||
| 销售和营销费用 | 920,161 | 351,845 | 2,515,067 | 1,051,785 | ||||||||||||
| 一般和管理费用 | 2,942,501 | 1,385,626 | 41,535,188 | 2,974,404 | ||||||||||||
| 研究和开发成本 | 275,908 | 137,156 | 553,274 | 180,705 | ||||||||||||
| 运营费用总额 | 4,138,570 | 1,874,627 | 44,603,529 | 4,206,894 | ||||||||||||
| 运营损失 | (3,171,255 | ) | (996,472) | ) | (40,766,055) | ) | (2,660,336) | ) | ||||||||
| 其他费用（收入）： | ||||||||||||||||
| 债务折扣的摊销 | 2,750,000 | 39,175 | 5,400,285 | 325,426 | ||||||||||||
| 债务消灭造成的损失 | - | 95,760 | 7,096,730 | 1,528,580 | ||||||||||||
| 诱发的转换损耗 | - | - | - | 51,412 | ||||||||||||
| 衍生品公允价值变动的收益 | (5,943,967) | ) | - | (15,074,880 | ) | - | ||||||||||
| 发行可转换票据亏损 | 220,000 | - | 5,889,369 | - | ||||||||||||
| 利息支出-关联方 | 28,167 | 137,480 | 106,895 | 454,029 | ||||||||||||
| 利息支出，净额 | 164,669 | 22,199 | 446,339 | 169,455 | ||||||||||||
| 其他支出总额（收入） | (801,131) | ) | 294,614 | 3,864,738 | 2,528,902 | |||||||||||
| 所得税前亏损 | (2,370,124) | ) | (1,291,086) | ) | (44,630,793) | ) | (5,189,238 | ) | ||||||||
| 所得税准备金 | - | - | - | - | ||||||||||||
| 净亏损 | (2,370,124) | ) | (1,291,086) | ) | (44,630,793) | ) | (5,189,238 | ) | ||||||||
| 扣除税款的其他综合收益（亏损） | ||||||||||||||||
| 外币折算调整 | (34,630) | ) | 816 | (26,806) | ) | (2,121 | ) | |||||||||
| 扣除税款的其他综合收益（亏损）总额 | (34,630) | ) | 816 | (26,806) | ) | (2,121 | ) | |||||||||
| 综合损失 | $ | (2,404,754) | ) | $ | (1,290,270 | ) | $ | (44,657,599) | ) | $ | (5,191,359) | ) | ||||
| 基本和摊薄后的每股净亏损 | $ | (0.06 | ) | $ | (0.05) | ) | $ | (1.19) | ) | $ | (0.20) | ) | ||||
| 已发行普通股、基本股和摊薄后普通股的加权平均数 | 41,873,698 | 26,795,030 | 37,360,953 | 26,497,184 | ||||||||||||
SLINGER BAG INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
SLINGER BAG INC.
未经审计的简明合并现金流量表
| For the Nine Months Ended | ||||||||
| January 31, | January 31, | |||||||
| 2022 | 2021 | |||||||
| (Unaudited) | (Unaudited) | |||||||
| Cash flows from operating activities | ||||||||
| Net loss | $ | (44,630,793 | ) | $ | (5,189,238 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Amortization expense | 222,748 | 1,299 | ||||||
| Gain on change in fair value of derivatives | (15,074,880 | ) | - | |||||
| Shares and warrants issued with services | 1,712,068 | 447,478 | ||||||
| Share-based compensation | 32,569,112 | - | ||||||
| Loss on extinguishment of debt | 7,096,730 | 1,528,580 | ||||||
| Induced conversion loss | - | 51,412 | ||||||
| Amortization of debt discounts | 5,400,285 | 325,426 | ||||||
| Loss on issuance of convertible notes | 5,889,369 | - | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable, net | (447,101 | ) | (1,433,312 | ) | ||||
| Inventories, net | (4,981,916 | ) | (1,401,782 | ) | ||||
| Prepaid expenses and other current assets | (1,783,155 | ) | 82,099 | |||||
| Accounts payable and accrued expenses | 5,893,935 | 1,352,468 | ||||||
| Accrued payroll and bonuses | 329,067 | 708,328 | ||||||
| Deferred revenue | (81,023 | ) | (66,074 | ) | ||||
| Accrued interest - related party | 102,456 | 454,030 | ||||||
| Net cash from operating activities | (7,783,098 | ) | (3,139,286 | ) | ||||
| Cash flows from investing activities | ||||||||
| Purchase of trademark | - | (30,000 | ) | |||||
| Note receivable issuance | (2,250,000 | ) | - | |||||
| Net cash from investing activities | (2,250,000 | ) | (30,000 | ) | ||||
| Cash flows from financing activities | ||||||||
| Proceeds from convertible notes | 11,000,000 | - | ||||||
| Debt issuance costs from convertible notes | (800,251 | ) | - | |||||
| Proceeds from notes - related party | 3,000,000 | 2,300,000 | ||||||
| Repayments of notes - related party | (1,000,000 | ) | - | |||||
| Repayment of note payable | (2,000,000 | ) | - | |||||
| Proceeds from note payable | - | 1,120,000 | ||||||
| Other financing activities | 9,671 | - | ||||||
| Net cash from financing activities | 10,209,420 | 3,420,000 | ||||||
| Effect of exchange rate | (22,672 | ) | (120 | ) | ||||
| Net change in cash and cash equivalents | 153,650 | 250,594 | ||||||
| Cash and cash equivalents, beg of period | 928,796 | 79,847 | ||||||
| Cash and cash equivalents, end of period | $ | 1,082,446 | $ | 330,441 | ||||
| 在结束的九个月里 | ||||||||
| 1月31日 | 1月31日 | |||||||
| 2022 | 2021 | |||||||
| （未经审计） | （未经审计） | |||||||
| 来自经营活动的现金流 | ||||||||
| 净亏损 | $ | (44,630,793) | ) | $ | (5,189,238 | ) | ||
| 为使净亏损与经营活动中使用的净现金相一致而进行的调整： | ||||||||
| 摊销费用 | 222,748 | 1,299 | ||||||
| 衍生品公允价值变动的收益 | (15,074,880 | ) | - | |||||
| 与服务一起发行的股票和认股权证 | 1,712,068 | 447,478 | ||||||
| 基于股份的薪酬 | 32,569,112 | - | ||||||
| 债务消灭造成的损失 | 7,096,730 | 1,528,580 | ||||||
| 诱发的转换损耗 | - | 51,412 | ||||||
| 债务折扣的摊销 | 5,400,285 | 325,426 | ||||||
| 发行可转换票据亏损 | 5,889,369 | - | ||||||
| 运营资产和负债的变化： | ||||||||
| 应收账款，净额 | (447,101) | ) | (1,433,312 | ) | ||||
| 库存，净额 | (4,981,916) | ) | (1,401,782) | ) | ||||
| 预付费用和其他流动资产 | (1,783,155) | ) | 82,099 | |||||
| 应付账款和应计费用 | 5,893,935 | 1,352,468 | ||||||
| 应计工资和奖金 | 329,067 | 708,328 | ||||||
| 递延收入 | (81,023) | ) | (66,074) | ) | ||||
| 应计利息-关联方 | 102,456 | 454,030 | ||||||
| 来自经营活动的净现金 | (7,783,098) | ) | (3,139,286) | ) | ||||
| 来自投资活动的现金流 | ||||||||
| 购买商标 | - | (30,000) | ) | |||||
| 应收票据的发行 | (2,250,000) | ) | - | |||||
| 来自投资活动的净现金 | (2,250,000) | ) | (30,000) | ) | ||||
| 来自融资活动的现金流 | ||||||||
| 可转换票据的收益 | 11,000,000 | - | ||||||
| 可转换票据的债务发行成本 | (800,251) | ) | - | |||||
| 票据收益-关联方 | 3,000,000 | 2,300,000 | ||||||
| 票据的偿还——关联方 | (1,000,000 | ) | - | |||||
| 偿还应付票据 | (2,000,000 | ) | - | |||||
| 应付票据的收益 | - | 112万 | ||||||
| 其他筹资活动 | 9,671 | - | ||||||
| 来自融资活动的净现金 | 10,209,420 | 3,420,000 | ||||||
| 汇率的影响 | (22,672) | ) | (120) | ) | ||||
| 现金和现金等价物的净变化 | 153,650 | 250,594 | ||||||
| 现金和现金等价物，延期 | 928,796 | 79,847 | ||||||
| 现金和现金等价物，期末 | $ | 1,082,446 | $ | 330,441 | ||||
Non-GAAP Financial Measures
非公认会计准则财务指标
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.
除了我们根据公认会计原则提供的财务信息外，我们还认为以下非公认会计准则财务指标对评估我们的经营业绩很有用。我们共同使用以下非公认会计准则财务指标来评估我们正在进行的运营以及内部规划和预测目的，包括编制年度运营预算和季度预测，评估业务战略的有效性，并就财务业绩与董事会进行沟通。我们认为，非公认会计准则财务指标与相应的GAAP财务指标结合使用可能会对投资者有所帮助，因为它们排除了某些可能不代表我们的业务、经营业绩或前景的项目，从而与过去的财务业绩保持一致性和可比性，并提供了有关我们业绩的有意义的补充信息。非公认会计准则财务指标仅供补充信息之用，作为分析工具存在局限性，不应孤立地考虑，也不能作为根据公认会计原则提供的财务信息的替代品，也可能与其他公司使用的标题相似的非公认会计准则财务指标有所不同。此外，其他公司，包括我们行业中的公司，可能会以不同的方式计算标题相似的非公认会计准则财务指标，或者可能使用其他指标来评估其业绩，所有这些都可能降低我们的非公认会计准则财务指标作为比较工具的用处。鼓励投资者审查相关的GAAP财务指标以及这些非公认会计准则财务指标与其最直接可比的GAAP财务指标的对账情况，不要依赖任何单一财务指标来评估我们的业务，包括本新闻稿在内的公布季度财务业绩的新闻稿中已包含这些指标。
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.
我们将非公认会计准则营业收入（亏损）定义为相应的公认会计原则衡量标准，不包括与股份薪酬、与服务相关的股票和认股权证、收购无形资产摊销以及收购相关费用相关的费用。
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:
我们将非公认会计准则净收益（亏损）定义为GAAP净收益（亏损），不包括用于计算非公认会计准则营业收入（亏损）的项目以及其他非现金项目，包括与以下内容相关的收益/亏损：
| ● | 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; and interest expense. |
| ● | 债务的清偿；债务折扣的摊销；鼓励股权转换；按季度计价的衍生品价值的变化；可转换票据的发行；以及利息支出。 |
| Reconciliation of GAAP to Non-GAAP Net Loss and Loss Per Share | 3Q21 | 3Q20 | YTD FY21 | YTD FY20 | ||||||||||||
| GAAP Net Loss | ($ | 2.4 | ) | ($ | 1.3 | ) | ($ | 44.6 | ) | ($ | 5.2 | ) | ||||
| Excluding the Following Other Expenses (Income): | ||||||||||||||||
| Amortization of debt discounts | $ | 2.8 | $ | 0.0 | $ | 5.4 | $ | 0.3 | ||||||||
| Loss on extinguishment of debt | - | $ | 0.1 | $ | 7.1 | $ | 1.5 | |||||||||
| Induced conversion loss | - | - | - | $ | 0.1 | |||||||||||
| Gain on change in fair value of derivatives | ($ | 5.9 | ) | - | ($ | 15.1 | ) | - | ||||||||
| Loss on issuance of convertible notes | $ | 2.2 | - | $ | 5.9 | - | ||||||||||
| Excluding the Following Operating Expenses: | ||||||||||||||||
| Share-based compensation | - | - | $ | 32.6 | - | |||||||||||
| Shares and warrants issued in connection with services | $ | 0.3 | $ | 0.3 | $ | 1.7 | $ | 0.5 | ||||||||
| Amortization of acquired intangible assets | $ | 0.1 | $ | 0.0 | $ | 0.2 | $ | 0.0 | ||||||||
| Acquisition-related expenses | $ | 0.5 | - | $ | 1.5 | - | ||||||||||
| Interest expense | $ | 0.2 | $ | 0.2 | $ | 0.6 | $ | 0.6 | ||||||||
| Non-GAAP net loss * | ($ | 2.3 | ) | ($ | 0.7 | ) | ($ | 4.8 | ) | ($ | 2.1 | ) | ||||
| Non-GAAP loss per share | ($ | 0.05 | ) | ($ | 0.02 | ) | ($ | 0.13 | ) | ($ | 0.08 | ) |
| GAAP与非GAAP每股净亏损和亏损的对账 | 3Q21 | 3Q20 | 21财年年初至今 | 20财年年初至今 | ||||||||||||
| GAAP 净亏损 | ($ | 2.4 | ) | ($ | 1.3 | ) | ($ | 44.6 | ) | ($ | 5.2 | ) | ||||
| 不包括以下其他费用（收入）： | ||||||||||||||||
| 债务折扣的摊销 | $ | 2.8 | $ | 0.0 | $ | 5.4 | $ | 0.3 | ||||||||
| 债务消灭造成的损失 | - | $ | 0.1 | $ | 7.1 | $ | 1.5 | |||||||||
| 诱发的转换损耗 | - | - | - | $ | 0.1 | |||||||||||
| 衍生品公允价值变动的收益 | ($ | 5.9 | ) | - | ($ | 15.1 | ) | - | ||||||||
| 发行可转换票据亏损 | $ | 2.2 | - | $ | 5.9 | - | ||||||||||
| 不包括以下运营费用： | ||||||||||||||||
| 基于股份的薪酬 | - | - | $ | 32.6 | - | |||||||||||
| 与服务相关的股票和认股权证 | $ | 0.3 | $ | 0.3 | $ | 1.7 | $ | 0.5 | ||||||||
| 收购的无形资产的摊销 | $ | 0.1 | $ | 0.0 | $ | 0.2 | $ | 0.0 | ||||||||
| 收购相关费用 | $ | 0.5 | - | $ | 1.5 | - | ||||||||||
| 利息支出 | $ | 0.2 | $ | 0.2 | $ | 0.6 | $ | 0.6 | ||||||||
| 非公认会计准则净亏损* | ($ | 2.3 | ) | ($ | 0.7 | ) | ($ | 4.8 | ) | ($ | 2.1 | ) | ||||
| 非公认会计准则每股亏损 | ($ | 0.05 | ) | ($ | 0.02 | ) | ($ | 0.13 | ) | ($ | 0.08 | ) |
*numbers may not add due to rounding
*由于四舍五入，数字可能不相加