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.
巴爾的摩，2022 年 3 月 21 日（環球新聞專線）- -領先的互聯體育技術公司斯林格（OTCQB: SLBG）今天公佈了截至2022年1月31日的2021財年第三季度的財務業績。
"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.
斯林格首席執行官邁克·巴拉迪表示：“儘管存在宏觀阻力，但我們還是取得了穩健的季度業績，銷售了超過7,200個Slinger Bag發射器。”“與2020年第三季度的收入比較出現偏差，這是因爲去年積壓的訂單積累了70萬美元，這與2020年第一和第二季度的需求超過供應有關。除此之外，季度收入將比去年增長約23％。本季度的利潤率也受到限制，這是由於我們在農曆新年之前積累了庫存，與來自中國的入境貨運相關的全球物流成本增加，以及假日前後我們增加促銷活動的影響。
"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."
“年初至今的收入增長強勁，超過66％，這表明全球對Slinger Bag發射器的持續需求。截至第三季度末，該發射器已售出2萬臺，而2020財年全年的銷量約爲19,000臺。”
Fiscal 2021 Commentary
2021 財年市場評論
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."
巴拉迪繼續說：“我們關閉了轉型大廳 PlaySig 和 GAMEFACE.AI 第四季度初的收購現在將使我們能夠 '觀看，播放， 學習' 制定戰略，將 Slinger 轉變爲一家真正互聯的體育科技公司。我們正在努力快速整合這些技術並推出這個互聯平台，在未來幾個月內從我們的新應用程序開始。此外，我們一直在努力確定新集團的財務協同效應，我們預計將在第四季度看到這些協同效應的早期跡象。儘管如此，大部分福利仍將在2022財年發放。在第四季度，鑑於全球宏觀事件的不確定性，包括COVID對南非、印度和中國等核心分銷市場的持續影響、烏克蘭的持續衝突和通貨膨脹，我們對Slinger Bag發射器的短期銷售預測持更爲謹慎的看法。因此，我們預計2021財年的總收入將在1600萬至1700萬美元之間，同比增長48-57％。”
Fiscal 2022 Commentary and Strategic Update
2022 財年評論和戰略更新
"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財年，我們有幾項產品和舉措預計將對業務產生積極影響。在接下來的幾周內，我們的目標是 “觀看、玩、學習” 策略的下一階段，即發佈測試版 Slinger 應用程序 由 GAMEFACE.AI 人工智能引擎提供支持。Slinger App將提供獨特的人工智能驅動的球員分析，以及專業水平的見解和訓練，以提高各種能力的網球運動員的表現。當該產品商業化發佈時，它將同時在iOS和Android上提供免費版本和多層訂閱服務。
"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，我們的目標是在Pickleball和Padel市場推出Slinger Bag發射器。這些產品已經在全球市場上進行最終的消費者測試，迄今爲止，這兩項運動的反饋都非常積極。此外，在合併後的公司努力開發我們的互聯平台的同時，各實體將繼續圍繞經常性SaaS、服務和設備收入來發展其現有業務。早期跡象表明，我們將在2022財年繼續保持激進的收入增長軌跡，其中約三分之一應該是經常性的SaaS和服務收入。作爲一家企業，我們的目標將是以收支平衡調整後的息稅折舊攤銷前利潤率結束2022財年，” 巴拉迪總結道。
Third Quarter Fiscal 2021 Financial Highlights (versus Fiscal 2020):
2021財年第三季度財務摘要 （對比 2020 財年）:
- 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.
- 收入爲420萬美元，而收入爲410萬美元；
- 毛利爲100萬美元，而90萬美元；
- GAAP淨虧損和每股虧損分別爲（240萬美元）和（0.06美元），而（130萬美元）和（0.05美元）；
- 非公認會計准則淨虧損和每股虧損分別爲（230萬美元）和（0.05美元），而（70萬美元）和（0.02美元）。
Third Quarter Fiscal 2021 Business Highlights:
2021 財年第三季度業務亮點：
- 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.
- 與鄧祿普簽署了爲期四年的全球網球獨家合作協議；
- 《Racquet Sports Industry》雜誌將斯林格首席執行官邁克·巴拉迪評爲年度最佳商業高管；
- 與 Tennis Bot 在菲律賓和印度尼西亞簽訂的延期亞洲分銷協議；
- 斯林格的英國分銷商Framework Sports將其分銷範圍擴大到波蘭；
- 將配送範圍擴大到厄瓜多爾；
- 將配送範圍擴大到波多黎各；
- 將配送範圍擴大到羅馬尼亞。
Year-to-date Fiscal 2021 Financial Highlights (versus Fiscal 2020):
年初至今 2021 財年財務摘要 （對比 2020 財年）:
- 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.
- 收入爲1,210萬美元，而收入爲730萬美元；
- 毛利爲380萬美元，而150萬美元；
- GAAP淨虧損和每股虧損分別爲（4,460萬美元）和（1.19美元），而GAAP淨虧損和每股虧損分別爲520萬美元和（0.20美元）；
- 非公認會計准則淨虧損和每股虧損分別爲（480萬美元）和（0.13美元），而（210萬美元）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:
我們將非公認會計准則淨虧損定義爲公認會計准則淨虧損，不包括用於計算非公認會計准則營業虧損的項目，其中包括基於股份的薪酬、與服務相關的股票和認股權證、收購無形資產的攤銷、收購相關費用以及其他非現金項目，包括與以下內容相關的收益/虧損：
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.
債務清償；債務折扣的攤銷；股權轉換的誘因；按季度向市場計價的衍生品價值的變化；發行可轉換票據；以及利息支出。請在財務報表後查看所有非公認會計准則財務指標的對賬表。
The Slinger Bag is available to order through or to find out more about Slinger Bag, visit
Slinger Bag 可供訂購，或者要了解有關 Slinger Bag 的更多信息，請訪問
Webcast Information
網絡直播信息
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.
該公司將舉辦網絡直播，回顧其3項第三方 財季業績。 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。
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Q四分之三 2021 財年收益業績 網絡直播
日期： 2022年三月二十三日, 星期三
時間： 美國東部時間上午 10:00
參與者鏈接：
About Slinger:
關於 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 是一家互聯體育公司，在 “看、玩、學” 的體育商業活動中提供產品和技術。Slinger 通過其球發射器、人工智能技術、表演視頻、直播和俱樂部管理軟件功能，讓體育運動變得更加有趣、更易於訪問和更緊密。
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.
斯林格最初通過其革命性的Slinger Tennis Ball Launcher和配件在全球網球市場建立了自己的品牌，在全球分銷協議中的零售價值超過2.5億美元，並通過收購PlaySight Interactive、GAMEFACE.AI 和Foundation Tennis，現已發展成爲全球最大的互聯體育公司之一。憑藉其增強的產品、高性能視頻和直播媒體功能，Slinger已將自己定位爲全球體育市場上行業領先的顛覆性公司。
Forward-Looking Statements:
前瞻性陳述:
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.
本新聞稿包含1933年《證券法》第27A條和1934年《證券交易法》第21E條以及經修訂的《私人證券訴訟改革法》所指的某些前瞻性陳述，包括與公司產品開發、臨床和監管時間表、市場機會、競爭地位、可能或假定的未來有關的前瞻性陳述 運營業績、業務戰略、潛在增長機會和其他本質上具有預測性的陳述。這些前瞻性陳述基於當前對我們運營所在行業和市場的預期、估計、預測和預測以及管理層當前的信念和假設。
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.
這些陳述可以通過使用前瞻性表達來識別，包括但不限於 “期望”、“預期”、“打算”、“計劃”、“相信”、“估計”、“潛力”、“預測”、“項目”、“應該”、“將” 以及類似的表達方式以及這些術語的否定詞。這些陳述與未來事件或我們的財務業績有關，涉及已知和未知的風險、不確定性和其他因素，這些因素可能導致實際業績、業績或成就與前瞻性陳述所表達或暗示的任何未來業績、業績或成就存在重大差異。這些因素包括公司向美國證券交易委員會提交的文件中列出的因素。提醒潛在投資者不要過分依賴此類前瞻性陳述，這些陳述僅代表截至本新聞稿發佈之日。公司沒有義務公開更新任何前瞻性陳述，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
如需查詢 Slinger 投資者關係，請訪問或聯繫 investors@slingerbag.com 或 443-407-7564
For Slinger media inquiries, please contact the press office at press@slingerbag.com or 443-407-7564
如需諮詢斯林格媒體，請通過 press@slingerbag.com 或 443-407-7564 聯繫新聞辦公室
SLINGER BAG INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
SLINGER BAG INC.
簡明的合併資產負債表
| 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 | |||||||
| （未經審計） | ||||||||
| 資產 | ||||||||
| 流動資產 | ||||||||
| 現金和現金等價物 | $ | 1,082,446 | $ | 928,796 | ||||
| 應收賬款，淨額 | 1,209,253 | 762,487 | ||||||
| 庫存，淨額 | 8,669,721 | 3,693,216 | ||||||
| 預付庫存 | 1,777,905 | 140,047 | ||||||
| 應收貸款和利息 | 2,355,349 | - | ||||||
| 預付費用和其他流動資產 | 99,785 | 60,113 | ||||||
| 流動資產總額 | 15,194,459 | 5,584,659 | ||||||
| 善意 | 1,240,000 | - | ||||||
| 其他無形資產，淨額 | 2200,105 | 112,853 | ||||||
| 總資產 | $ | 18,634,564 | $ | 5,697,512 | ||||
| 負債和股東赤字 | ||||||||
| 流動負債 | ||||||||
| 應付賬款和應計費用 | $ | 7,942,523 | $ | 2,050,476 | ||||
| 應計工資和獎金 | 1,612,531 | 1,283,464 | ||||||
| 遞延收入 | 18,508 | 99,531 | ||||||
| 應計利息-關聯方 | 850,092 | 747,636 | ||||||
| 應付票據——關聯方，淨額 | 2,000,000 | 6,143,223 | ||||||
| 可轉換應付票據，淨額 | 7,577778 | - | ||||||
| 衍生負債 | 8,926,083 | 13,813,449 | ||||||
| 流動負債總額 | 28,927,515 | 24,137,779 | ||||||
| 長期負債 | ||||||||
| 應付票據，淨額 | - | 10,477 | ||||||
| 負債總額 | 28,927,515 | 24,148,256 | ||||||
| 承付款和意外開支 | ||||||||
| 股東赤字 | ||||||||
| 截至2022年1月31日（未經審計）和2021年4月30日，普通股，面值0.001美元，已發行和流通的3億股，分別爲41,888,372股和27,642,828股；截至2022年1月31日（未經審計）和2021年4月30日分別發行0股和6,921,299股 | 41,888 | 27,643 | ||||||
| 額外的實收資本 | 63,166,203 | 10,365,056 | ||||||
| 累計其他綜合虧損 | (46,976) | ) | (20,170 | ) | ||||
| 累計赤字 | (73,454,066) | ) | (28,823,273 | ) | ||||
| 股東赤字總額 | (10,292,951) | ) | (18,450,744 | ) | ||||
| 負債總額和股東赤字 | $ | 18,634,564 | $ | 5,697,512 | ||||
SLINGER BAG INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE LOSS
SLINGER BAG INC.
未經審計的簡明合併運營報表以及
綜合損失
| 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 | ||||||||||||
| 在已結束的三個月中 | 在結束的九個月裏 | |||||||||||||||
| 1月31日 | 1月31日 | 1月31日 | 1月31日 | |||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||
| （未經審計） | （未經審計） | （未經審計） | （未經審計） | |||||||||||||
| 淨銷售額 | $ | 4,201,745 | $ | 4,123,648 | $ | 12,139,860 | $ | 7,308,701 | ||||||||
| 銷售成本 | 3,234,430 | 3,245,493 | 8,302,386 | 5,762,143 | ||||||||||||
| 總收入 | 967,315 | 878,155 | 3,837,474 | 1,546,558 | ||||||||||||
| 運營費用： | ||||||||||||||||
| 銷售和營銷費用 | 920,161 | 351,845 | 2,515,067 | 1,051,785 | ||||||||||||
| 一般和管理費用 | 2,942,501 | 1,385,626 | 41,535,188 | 2,974,404 | ||||||||||||
| 研究和開發成本 | 275,908 | 137,156 | 553,274 | 180,705 | ||||||||||||
| 運營費用總額 | 4,138,570 | 1,874,627 | 44,603,529 | 4,206,894 | ||||||||||||
| 運營損失 | (3,171,255 | ) | (996,472) | ) | (40,766,055) | ) | (2,660,336) | ) | ||||||||
| 其他費用（收入）： | ||||||||||||||||
| 債務折扣的攤銷 | 2750,000 | 39,175 | 5,400,285 | 325,426 | ||||||||||||
| 債務消滅造成的損失 | - | 95,760 | 7,096,730 | 1,528,580 | ||||||||||||
| 誘發的轉換損耗 | - | - | - | 51,412 | ||||||||||||
| 衍生品公允價值變動的收益 | (5,943,967 | ) | - | (15,074,880) | ) | - | ||||||||||
| 發行可轉換票據虧損 | 220,000 | - | 5,889,369 | - | ||||||||||||
| 利息支出-關聯方 | 28,167 | 137,480 | 106,895 | 454,029 | ||||||||||||
| 利息支出，淨額 | 164,669 | 22,199 | 446,339 | 169,455 | ||||||||||||
| 其他支出總額（收入） | (801,131) | ) | 294,614 | 3,864,738 | 2,528,902 | |||||||||||
| 所得稅前虧損 | (2,370,124 | ) | (1,291,086 | ) | (44,630,793) | ) | (5,189,238 | ) | ||||||||
| 所得稅準備金 | - | - | - | - | ||||||||||||
| 淨虧損 | (2,370,124 | ) | (1,291,086 | ) | (44,630,793) | ) | (5,189,238 | ) | ||||||||
| 扣除稅款的其他綜合收益（虧損） | ||||||||||||||||
| 外幣折算調整 | (34,630) | ) | 816 | (26,806) | ) | (2,121 | ) | |||||||||
| 扣除稅款的其他綜合收益（虧損）總額 | (34,630) | ) | 816 | (26,806) | ) | (2,121 | ) | |||||||||
| 綜合損失 | $ | (2,404,754) | ) | $ | (1,290,270 | ) | $ | (44,657,599) | ) | $ | (5,191,359 | ) | ||||
| 基本和攤薄後的每股淨虧損 | $ | (0.06 | ) | $ | (0.05) | ) | $ | (1.19) | ) | $ | (0.20) | ) | ||||
| 已發行普通股、基本股和攤薄後普通股的加權平均數 | 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.
未經審計的簡明合併現金流量表
| 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 | ||||
| 在結束的九個月裏 | ||||||||
| 1月31日 | 1月31日 | |||||||
| 2022 | 2021 | |||||||
| （未經審計） | （未經審計） | |||||||
| 來自經營活動的現金流 | ||||||||
| 淨虧損 | $ | (44,630,793) | ) | $ | (5,189,238 | ) | ||
| 爲使淨虧損與經營活動中使用的淨現金相一致而進行的調整： | ||||||||
| 攤銷費用 | 222,748 | 1,299 | ||||||
| 衍生品公允價值變動的收益 | (15,074,880) | ) | - | |||||
| 與服務一起發行的股票和認股權證 | 1,712,068 | 447,478 | ||||||
| 基於股份的薪酬 | 32,569,112 | - | ||||||
| 債務消滅造成的損失 | 7,096,730 | 1,528,580 | ||||||
| 誘發的轉換損耗 | - | 51,412 | ||||||
| 債務折扣的攤銷 | 5,400,285 | 325,426 | ||||||
| 發行可轉換票據虧損 | 5,889,369 | - | ||||||
| 運營資產和負債的變化： | ||||||||
| 應收賬款，淨額 | (447,101) | ) | (1,433,312 | ) | ||||
| 庫存，淨額 | (4,981,916 | ) | (1,401,782) | ) | ||||
| 預付費用和其他流動資產 | (1,783,155 | ) | 82,099 | |||||
| 應付賬款和應計費用 | 5,893,935 | 1,352,468 | ||||||
| 應計工資和獎金 | 329,067 | 708,328 | ||||||
| 遞延收入 | (81,023) | ) | (66,074) | ) | ||||
| 應計利息-關聯方 | 102,456 | 454,030 | ||||||
| 來自經營活動的淨現金 | (7,783,098 | ) | (3,139,286 | ) | ||||
| 來自投資活動的現金流 | ||||||||
| 購買商標 | - | (30,000 | ) | |||||
| 應收票據發行 | (2250 0000 | ) | - | |||||
| 來自投資活動的淨現金 | (2250 0000 | ) | (30,000 | ) | ||||
| 來自融資活動的現金流 | ||||||||
| 可轉換票據的收益 | 11,000,000 | - | ||||||
| 可轉換票據的債務發行成本 | (800,251 | ) | - | |||||
| 票據收益——關聯方 | 3,000,000 | 2,300 | ||||||
| 票據的還款——關聯方 | (1,000,000 | ) | - | |||||
| 償還應付票據 | (2,000,000 | ) | - | |||||
| 應付票據的收益 | - | 112萬 | ||||||
| 其他籌資活動 | 9,671 | - | ||||||
| 來自融資活動的淨現金 | 10,209,420 | 3,420,000 | ||||||
| 匯率的影響 | (22,672) | ) | (120) | ) | ||||
| 現金和現金等價物的淨變化 | 153,650 | 250,594 | ||||||
| 現金和現金等價物，期限 | 928,796 | 79,847 | ||||||
| 現金和現金等價物，期末 | $ | 1,082,446 | $ | 330,441 | ||||
Non-GAAP Financial Measures
非公認會計准則財務指標
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.
除了根據公認會計原則提供的財務信息外，我們還認爲以下非公認會計准則財務指標可用於評估我們的經營業績。我們共同使用以下非公認會計准則財務指標來評估我們的持續運營以及用於內部規劃和預測目的，包括編制年度運營預算和季度預測，評估業務戰略的有效性，並就我們的財務業績與董事會溝通。我們認爲，非公認會計准則財務指標與相應的公認會計准則財務指標一起使用可能會對投資者有所幫助，因爲它們排除了某些可能無法表明我們的業務、經營業績或前景的項目，從而提供與過去財務業績的一致性和可比性，以及有關我們業績的有意義的補充信息。非公認會計准則財務指標僅供補充信息之用，作爲分析工具存在侷限性，不應單獨考慮，也不應作爲根據公認會計原則提供的財務信息的替代品，可能與其他公司使用的標題相似的非公認會計准則財務指標不同。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標題相似的非公認會計准則財務指標，或者可能使用其他衡量標準來評估其業績，所有這些都可能降低我們的非公認會計准則財務指標作爲比較工具的用處。鼓勵投資者審查相關的GAAP財務指標以及這些非公認會計准則財務指標與其最直接可比的GAAP財務指標的對賬情況，不要依賴任何單一的財務指標來評估我們的業務，該指標包含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.
我們將非公認會計准則營業收入（虧損）定義爲相應的GAAP指標，不包括與基於股份的薪酬、與服務相關的股票和認股權證、收購的無形資產的攤銷以及收購相關費用相關的支出。
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:
我們將非公認會計准則淨收益（虧損）定義爲GAAP淨收益（虧損），不包括用於計算非公認會計准則營業收入（虧損）的項目，以及其他非現金項目，包括與以下內容相關的收益/虧損：
| ● | 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. |
| ● | 債務清償；債務折扣的攤銷；股權轉換的誘惑；按季度向市場計價的衍生品價值的變化；可轉換票據的發行；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 與非 GAAP 淨虧損和每股虧損的對賬 | 3Q21 | 3Q20 | 21 財年年初至今 | 20 財年年初至今 | ||||||||||||
| GAAP 淨虧損 | ($ | 2.4 | ) | ($ | 1.3 | ) | ($ | 44。6 | ) | ($ | 5.2 | ) | ||||
| 不包括以下其他費用（收入）： | ||||||||||||||||
| 債務折扣的攤銷 | $ | 2.8 | $ | 0.0 | $ | 5.4 | $ | 0.3 | ||||||||
| 債務消滅造成的損失 | - | $ | 0.1 | $ | 7.1 | $ | 1。5 | |||||||||
| 誘發的轉換損耗 | - | - | - | $ | 0.1 | |||||||||||
| 衍生品公允價值變動的收益 | ($ | 5.9 | ) | - | ($ | 15。1 | ) | - | ||||||||
| 發行可轉換票據虧損 | $ | 2.2 | - | $ | 5.9 | - | ||||||||||
| 不包括以下運營費用： | ||||||||||||||||
| 基於股份的薪酬 | - | - | $ | 32.6 | - | |||||||||||
| 與服務相關的股票和認股權證 | $ | 0。3 | $ | 0。3 | $ | 1。7 | $ | 0。5 | ||||||||
| 收購的無形資產的攤銷 | $ | 0.1 | $ | 0.0 | $ | 0。2 | $ | 0.0 | ||||||||
| 收購相關費用 | $ | 0.5 | - | $ | 1。5 | - | ||||||||||
| 利息支出 | $ | 0.2 | $ | 0.2 | $ | 0.6 | $ | 0.6 | ||||||||
| 非公認會計准則淨虧損 * | ($ | 2.3 | ) | ($ | 0。7 | ) | ($ | 4。8 | ) | ($ | 2.1 | ) | ||||
| 非公認會計准則每股虧損 | ($ | 0.05 | ) | ($ | 0.02 | ) | ($ | 0。13 | ) | ($ | 0.08 | ) |
*numbers may not add due to rounding
*由於四捨五入，數字可能不相加