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
收入同比增长106%，达到创纪录的540万美元。
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.
巴尔的摩，2021年12月22日(环球通讯社)-斯林格(OTCQB：SLBG),一家领先的互联体育技术公司今天公布了截至2021年10月31日的2021财季第二季度财务业绩。
"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.
这对斯林格来说是一个重要的季度，因为我们宣布了两项变革性的收购，这将使我们的看，玩，学到互联技术平台战略，同时报告我们第一个季度的收入为500万美元，这得益于斯林格手袋的强劲销售。斯林格首席执行官迈克·巴尔迪(Mike Ballardie)说。
Second Quarter Fiscal 2021 Financial Highlights (versus Fiscal 2020):
2021财年第二季度财务亮点(与2020财年相比)：
- 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.
- 收入为540万美元，而不是260万美元；
- 毛利润为210万美元，而不是100万美元；
- GAAP净亏损和每股亏损分别为(3880万美元和0.95美元)和(250万美元和0.10美元)；
- 非GAAP净亏损和每股亏损分别为110万美元和0.03美元，而非GAAP净亏损和每股亏损分别为20万美元和0.01美元。
Second Quarter Fiscal 2021 Business Highlights:
第二个问题RTER 2021财年业务亮点：
- 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.
- 宣布了看，玩，学到由变革性收购交易驱动的战略PlaySight互动，体育视频技术、数据采集、高性能分析和自动化视频制作的先驱和领导者；以及GAMEFACE.AI，这是一家领先的运动性能人工智能公司，也在为Slinger App构建分析引擎；
- 基金会网球宣布与Square合作；
- 扩大在中国和巴西网球市场的分销；
- 与世界著名的Mouratoglou学院及其在尼斯、迪拜和希腊的办事处建立了合作伙伴关系。
| 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 | ||||||
| 部分财务指标：截至2021年10月31日的2021财年第二季度与2020财年* | ||||||
| (单位：毫秒) | 2Q21 | 2Q20 | 变化 | YTD FY21 | YTD FY20 | 变化 |
| 净销售额 | $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营业亏损 | ($35.1) | ($0.2) | NM | ($37.6) | ($1.7) | NM |
| 非GAAP营业亏损 | ($0.8) | ($0.1) | NM | ($2.5) | ($1.6) | NM |
| GAAP净亏损 | ($38.8) | ($2.5) | NM | ($42.3) | ($3.9) | NM |
| 非GAAP净亏损 | ($1.1) | ($0.2) | NM | ($2.8) | ($2.0) | -40.0% |
| GAAP每股亏损 | ($0.95) | ($0.10) | NM | ($1.20) | ($0.15) | NM |
| 非GAAP每股亏损 | ($0.03) | ($0.01) | NM | ($0.08) | ($0.07) | -14.3% |
| NM=不可测量/有意义 | ||||||
| *由于四舍五入，数字可能无法相加 | ||||||
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.
我们将非GAAP营业收入(亏损)定义为各自的GAAP衡量标准，不包括与基于股份的薪酬、与服务相关的股票和认股权证、已收购无形资产的摊销以及与收购相关的费用相关的费用。隐形眼镜。
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.
我们将非GAAP净收益(亏损)定义为GAAP净收益(亏损)，不包括用于计算非GAAP营业收入(亏损)的项目，以及其他非现金项目，包括与以下相关的损益：
债务的清偿；债务的摊销EBT折扣；股权转换的诱因；按季度计价的衍生品价值变化；可转换票据的发行。
Please see reconciliations of all non-GAAP financial measures after the financial statements.
请参阅财务报表后所有非公认会计准则财务指标的对账。
Fiscal 2021 Commentary
2021财年评论
"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.
“在我们展望下半财年时，我们有几个催化剂，它们将把我们的”观看、玩耍、学习“战略整合在一起。首先，我们预计将在未来几周内完成我们的两笔变革性收购。接下来，在早春，我们预计将推出带有人工智能驱动的性能分析的斯林格应用程序，以及我们统一的、联网的网球运动平台。最后，我们将把我们的”观看、玩耍、学习“功能带到新的细分市场，主要是为皮克尔球和佩德尔网球推出斯林格袋球发射器。
"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.
在谈到我们2021财年的预期财务业绩时，我们预计收入(不包括未决收购的收入)将为1700万-1800万美元，比上一财年1080万美元的收入增长57%-67%。我们预计，当我们退出本财年时，调整后的EBITDA运行率将接近收支平衡。一旦GAMEFACE.AI和PlaySight交易完成，我们将更新我们的综合指引。
"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.
巴拉迪总结道：“总之，在经常性SaaS、订阅和内容收入的推动下，斯林格将转型为一家体育科技企业，我对此感到兴奋。我相信，我们正在实施的互联体育愿景将为消费者带来我们平台独特的价值主张，并在未来几年为我们的股东带来价值。”
The Slinger Bag is available to order or to find out more about Slinger Bag, visit .
斯林格袋子可供订购或了解有关斯林格袋子的更多信息，请访问。
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.
网络直播信息
公司将在上午10：00主持网络直播和问答。美国东部时间2021年12月22日(星期三)。网上直播的网址是：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。
About Slinger
关于斯林格
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.
斯林格是一个新的运动品牌，专注于在所有球类运动中提供创新的比赛改进技术和设备。斯林格的目标是成为一家领先的互联体育公司，提高所有年龄段和能力的球员的技能和享受水平。斯林格最初专注于通过斯林格袋子网球发射器和配件在全球网球市场建立自己的品牌。自2020年春季以来，Singer Bag在全球分销协议中的零售价值超过2.5亿美元，为其概念验证奠定了基础。斯林格已经准备好颠覆传统的全球市场，它拥有专利、高度便携、价格实惠的斯林格袋子发射器，以及一套联网的应用程序和SaaS服务。
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.
前瞻性陈述：本新闻稿包含“1933年证券法”第27A节和“1934年证券交易法”第21E节以及修订后的“私人证券诉讼改革法”所指的某些前瞻性陈述，包括那些与公司的产品开发、临床和监管时间表、市场机会、竞争地位、可能或假设的未来经营结果、商业战略、潜在增长机会以及其他具有预测性的陈述有关的陈述。这些前瞻性陈述是基于对我们经营的行业和市场的当前预期、估计、预测和预测，以及管理层目前的信念和假设。
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.
这些表述可以通过使用前瞻性表述来识别，包括但不限于“预期”、“预期”、“打算”、“计划”、“相信”、“估计”、“潜在”、“预测”、“项目”、“应该”、“将会”以及类似的表述和这些术语的否定。这些陈述与未来事件或我们的财务表现有关，涉及已知和未知的风险、不确定因素和其他因素，这些风险、不确定因素和其他因素可能导致实际结果、表现或成就与前瞻性陈述明示或暗示的任何未来结果、表现或成就大不相同。这些因素包括该公司提交给证券交易委员会的文件中陈述的因素。告诫潜在投资者不要过度依赖此类前瞻性陈述，这些陈述仅在本新闻稿发布之日发表。公司不承担公开更新任何前瞻性陈述的义务，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
欲查询斯林格投资者关系部事宜，请访问或联系Investors@slingerbag.com，电子邮件：443-407-7564。
For Slinger media inquiries, please contact the press office at press@slingerbag.com 443-407-7564
斯林格媒体查询请联系新闻处，电子邮件：press@slingerbag.com，电话：443-407-7564
SLINGER BAG INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
斯林格袋子公司。
压缩合并资产负债表
| 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 | |||||||
| (未经审计) | ||||||||
| 资产 | ||||||||
| 流动资产 | ||||||||
| 现金和现金等价物 | $ | 1,747,661 | $ | 928,796 | ||||
| 应收账款净额 | 846,529 | 762,487 | ||||||
| 库存，净额 | 8,578,431 | 3,693,216 | ||||||
| 预付库存 | 475,913 | 140,047 | ||||||
| 应收贷款和应收利息 | 1,435,219 | - | ||||||
| 预付费用和其他流动资产 | 110,970 | 60,113 | ||||||
| 流动资产总额 | 13,194,723 | 5,584,659 | ||||||
| 商誉 | 1,240,000 | - | ||||||
| 其他无形资产，净额 | 2,290,895 | 112,853 | ||||||
| 总资产 | $ | 16,725,618 | $ | 5,697,512 | ||||
| 负债和股东赤字 | ||||||||
| 流动负债 | ||||||||
| 应付账款和应计费用 | $ | 5,306,355 | $ | 2,050,476 | ||||
| 应计工资和奖金 | 1,210,805 | 1,283,464 | ||||||
| 递延收入 | 71,242 | 99,531 | ||||||
| 应计利息关联方 | 821,925 | 747,636 | ||||||
| 应付票据-关联方，净额 | - | 6,143,223 | ||||||
| 可转换应付票据，净额 | 2,627,778 | - | ||||||
| 衍生负债 | 14,870,050 | 13,813,449 | ||||||
| 流动负债总额 | 24,908,155 | 24,137,779 | ||||||
| 长期负债 | ||||||||
| 应付票据，净额 | - | 10,477 | ||||||
| 总负债 | 24,908,155 | 24,148,256 | ||||||
| 承付款和或有事项(附注11) | ||||||||
| 股东亏损 | ||||||||
| 截至2021年10月31日(未经审计)和2021年4月30日，普通股，面值0.001美元，授权发行3亿股，已发行和已发行股票分别为41,869,622股和27,642,828股；截至2021年10月31日(未经审计)和2021年4月30日分别为0股和6,921,299股 | 41,870 | 27,643 | ||||||
| 额外实收资本 | 62,871,881 | 10,365,056 | ||||||
| 累计其他综合损失 | (12,346 | ) | (20,170 | ) | ||||
| 累计赤字 | (71,083,942 | ) | (28,823,273 | ) | ||||
| 股东赤字总额 | (8,182,537 | ) | (18,450,744 | ) | ||||
| 总负债和股东赤字 | $ | 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。
未经审计的简明合并经营报表和
综合损失
| 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 | ||||||||||||
| 在截至的三个月内 | 在截至的六个月内 | |||||||||||||||
| 10月31日， | 10月31日， | 10月31日， | 10月31日， | |||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||
| (未经审计) | (未经审计) | (未经审计) | (未经审计) | |||||||||||||
| 净销售额 | $ | 5,400,542 | $ | 2,620,068 | $ | 7,938,115 | $ | 3,185,053 | ||||||||
| 销售成本 | 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 | ||||||||||||
| 运营费用： | ||||||||||||||||
| 销售和营销费用 | 887,809 | 397,922 | 1,594,906 | 699,940 | ||||||||||||
| 一般和行政费用 | 36,197,888 | 829,510 | 38,592,687 | 1,588,778 | ||||||||||||
| 研发成本 | 103,318 | 15,439 | 277,366 | 43,549 | ||||||||||||
| 总运营费用 | 37,189,015 | 1,242,871 | 40,464,959 | 2,332,267 | ||||||||||||
| 运营亏损 | (35,104,078 | ) | (202,553 | ) | (37,594,800 | ) | (1,663,864 | ) | ||||||||
| 其他费用(收入)： | ||||||||||||||||
| 债务折价摊销 | 2,629,069 | 52,543 | 2,650,285 | 286,251 | ||||||||||||
| 债务清偿损失 | 1,978,295 | 1,999,487 | 7,096,730 | 1,432,820 | ||||||||||||
| 感生转换损耗 | - | 51,412 | - | 51,412 | ||||||||||||
| 衍生工具公允价值变动收益 | (4,803,569 | ) | - | (9,130,913 | ) | - | ||||||||||
| 发行可转换票据的亏损 | 3,689,369 | - | 3,689,369 | - | ||||||||||||
| 利息支出关联方 | 22,495 | 144,085 | 78,728 | 316,549 | ||||||||||||
| 利息支出，净额 | 205,620 | 74,046 | 281,670 | 147,256 | ||||||||||||
| 其他费用合计 | 3,721,279 | 2,321,573 | 4,665,869 | 2,234,288 | ||||||||||||
| 所得税前亏损 | (38,825,357 | ) | (2,524,126 | ) | (42,260,669 | ) | (3,898,152 | ) | ||||||||
| 所得税拨备 | - | - | - | - | ||||||||||||
| 净损失 | (38,825,357 | ) | (2,524,126 | ) | (42,260,669 | ) | (3,898,152 | ) | ||||||||
| 其他综合损益，税后净额 | ||||||||||||||||
| 外币折算调整 | 20,852 | (1,544 | ) | 7,824 | (2,937 | ) | ||||||||||
| 扣除税后的其他综合收益(亏损)合计 | 20,852 | (1,544 | ) | 7,824 | (2,937 | ) | ||||||||||
| 综合损失 | $ | (38,804,505 | ) | $ | (2,525,670 | ) | $ | (42,252,845 | ) | $ | (3,901,089 | ) | ||||
| 每股基本和稀释后净亏损 | $ | (0.95 | ) | $ | (0.10 | ) | $ | (1.20 | ) | $ | (0.15 | ) | ||||
| 已发行普通股、基本普通股和稀释后普通股的加权平均数 | 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。
未经审计的简明合并现金流量表
| 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 | ||||||
| 在截至的六个月内 | ||||||||
| 10月31日， | 10月31日， | |||||||
| 2021 | 2020 | |||||||
| (未经审计) | (未经审计) | |||||||
| 经营活动的现金流 | ||||||||
| 净损失 | $ | (42,260,669 | ) | $ | (3,898,152 | ) | ||
| 对净亏损与经营活动中使用的现金净额进行调整： | ||||||||
| 摊销费用 | 131,958 | - | ||||||
| 衍生工具公允价值变动收益 | (9,130,913 | ) | - | |||||
| 与服务相关而发行的股份及认股权证 | 1,417,728 | 183,845 | ||||||
| 基于股份的薪酬 | 32,569,112 | - | ||||||
| 债务清偿损失 | 7,096,730 | 1,432,820 | ||||||
| 感生转换损耗 | - | 51,412 | ||||||
| 债务折价摊销 | 2,650,285 | 286,251 | ||||||
| 发行可转换票据的亏损 | 3,689,369 | - | ||||||
| 营业资产和负债变动情况： | ||||||||
| 应收账款净额 | (84,262 | ) | (353,505 | ) | ||||
| 库存，净额 | (4,886,227 | ) | (993,049 | ) | ||||
| 预付费用和其他流动资产 | (422,119 | ) | 110,455 | |||||
| 应付账款和应计费用 | 3,256,234 | 327,579 | ||||||
| 应计工资和奖金 | (72,659 | ) | 361,608 | |||||
| 递延收入 | (28,289 | ) | 630,148 | |||||
| 应计利息关联方 | 74,289 | 316,549 | ||||||
| 用于经营活动的现金净额 | (5,999,433 | ) | (1,544,039 | ) | ||||
| 投资活动的现金流 | ||||||||
| 应收票据发行 | (1,400,000 | ) | - | |||||
| 用于投资活动的净现金 | (1,400,000 | ) | - | |||||
| 融资活动的现金流 | ||||||||
| 可转换应付票据收益 | 11,000,000 | - | ||||||
| 与可转换应付票据相关的债务发行成本 | (800,251 | ) | - | |||||
| 应付票据收益-关联方 | 1,000,000 | 2,000,000 | ||||||
| 应付票据的偿还-关联方 | (1,000,000 | ) | - | |||||
| 应付票据的偿还 | (2,000,000 | ) | - | |||||
| 应付票据收益 | - | 120,000 | ||||||
| 其他融资活动 | 9,671 | - | ||||||
| 融资活动提供的现金净额 | 8,209,420 | 2,120,000 | ||||||
| 汇率波动对现金及现金等价物的影响 | 8,878 | (2,937 | ) | |||||
| 现金和现金等价物净变化 | 818,865 | 573,024 | ||||||
| 期初现金和现金等价物 | 928,796 | 79,847 | ||||||
| 期末现金和现金等价物 | $ | 1,747,661 | $ | 652,871 | ||||
| 补充披露现金流量信息 | ||||||||
| 支付的利息 | $ | 111,105 | $ | 140,180 | ||||
| 已缴所得税 | 3,896 | - | ||||||
| 补充披露非现金投融资活动 | ||||||||
| 为转换应付票据而发行的股份-关联方 | $ | 6,220,003 | $ | - | ||||
| 与收购相关而发行的股份 | 3,550,000 | - | ||||||
| 关联方衍生负债的消除 | 8,754,538 | - | ||||||
| 衍生负债记为可转换票据的债务折价 | 10,199,749 | - | ||||||
| 将应付票据和应计利息转换为普通股 | - | 187,037 | ||||||
| 凭应付票据发行的认股权证 | - | 70,130 | ||||||
Non-GAAP Financial Measures
非GAAP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GAAP提供的财务信息外，我们认为以下非GAAP财务指标在评估我们的经营业绩时是有用的。我们使用以下非GAAP财务指标来评估我们正在进行的业务，并用于内部计划和预测目的，包括编制我们的年度运营预算和季度预测，评估我们业务战略的有效性，并就我们的财务业绩与我们的董事会进行沟通。我们相信，当非GAAP财务指标与相应的GAAP财务指标结合使用时，可能会对投资者有所帮助，因为它们提供了与过去财务业绩的一致性和可比性，并通过排除某些可能不能反映我们的业务、经营结果或前景的项目，提供了有关我们业绩的有意义的补充信息。非GAAP财务指标仅供补充信息之用，作为分析工具有其局限性，不应孤立地考虑或作为根据GAAP提供的财务信息的替代品，可能与其他公司使用的名称类似的非GAAP财务指标不同。此外，其他公司，包括我们行业的公司，可能会以不同的方式计算类似名称的非GAAP财务衡量标准，或者可能使用其他衡量标准来评估它们的业绩，所有这些都可能降低我们的非GAAP财务衡量标准作为比较工具的有效性。我们鼓励投资者审查相关的GAAP财务指标，以及这些非GAAP财务指标与其最直接可比的GAAP财务指标的协调情况，不要依赖任何单一的财务指标来评估我们的业务。, 它包括在宣布季度财务业绩的新闻稿中，包括本新闻稿。
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.
我们将非GAAP营业收入(亏损)定义为各自的GAAP计量，不包括与以股份为基础的薪酬、与服务有关的股票和认股权证、已收购无形资产的摊销以及与收购相关的费用相关的费用。
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GAAP净收益(亏损)定义为GAAP净收益(亏损)，不包括用于计算非GAAP营业收入(亏损)的项目，以及其他非现金项目，包括与以下相关的损益：
- 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.
- 债务的清偿；债务折价的摊销；股权转换的诱因；按季度计价的衍生品价值的变化；可转换票据的发行。
| 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与非GAAP营业亏损的对账 | 2Q21 | 2Q20 | YTD FY21 | YTD FY20 |
| GAAP营业亏损 | ($35.1) | ($0.2) | ($37.6) | ($1.7) |
| 不包括： | ||||
| 基于股份的薪酬 | $32.4 | - | $32.6 | - |
| 与服务相关而发行的股份及认股权证 | $0.8 | $0.1 | $1.4 | $0.1 |
| 已取得无形资产的摊销 | $0.1 | - | $0.1 | - |
| 收购相关费用 | $1.0 | - | $1.0 | - |
| 非GAAP营业亏损 | ($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与非GAAP净亏损和每股亏损的对账 | 2Q21 | 2Q20 | YTD FY21 | YTD FY20 |
| GAAP净亏损 | ($38.8) | ($2.5) | ($42.3) | ($3.9) |
| 不包括下列其他费用(收入)： | ||||
| 债务折价摊销 | $2.6 | $0.1 | $2.7 | $0.3 |
| 债务清偿损失 | $2.0 | $2.0 | $7.1 | $1.4 |
| 感生转换损耗 | - | $0.1 | - | $0.1 |
| 衍生工具公允价值变动收益 | ($4.8) | - | ($9.1) | - |
| 发行可转换票据的亏损 | $3.7 | - | $3.7 | - |
| 不包括以下运营费用： | ||||
| 基于股份的薪酬 | $32.4 | - | $32.6 | - |
| 与服务相关而发行的股份及认股权证 | $0.8 | $0.1 | $1.4 | $0.1 |
| 已取得无形资产的摊销 | $0.1 | - | $0.1 | - |
| 收购相关费用 | $1.0 | - | $1.0 | - |
| 非GAAP净亏损 | ($1.1) | ($0.2) | ($2.8) | ($2.0) |
| 非GAAP每股亏损 | ($0.03) | ($0.01) | ($0.08) | ($0.07) |