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（GLOBE NEWSWIRE）— Slinger（OTCQB：SLBG）， 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年第二财季的财务业绩。
"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.
“对于Slinger来说，这是一个重要的季度，因为我们宣布了两项转型性收购，这将使我们的发展成为可能 看，玩， 学习 互联技术平台战略，同时还报告了在Slinger Bag强劲销售的推动下，我们的第一个季度收入为500万美元，” 斯林格首席执行官迈克·巴拉迪说。
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，而收入为260万美元；
- 毛利为210万美元，而毛利为100万美元；
- GAAP净亏损和每股亏损（3,880万美元）和（0.95美元），分别为（250万美元和0.10美元）；
- 非公认会计准则净亏损和每股亏损分别为（110万美元和0.03美元），分别为（20万美元和0.01美元）。
Second Quarter Fiscal 2021 Business Highlights:
第二名 Quarter 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， 学习 战略由转型收购交易驱动 PlaySig 互动，体育视频技术、数据采集、高性能分析和自动视频制作领域的先驱和领导者；以及 GAMEFACE.AI，一家领先的运动表现人工智能公司，也在为Slinger App开发分析引擎；
- 网球基金会宣布与Square建立合作伙伴关系；
- 将分销范围扩大到中国和巴西网球市场；
- 与世界知名的 Mouratoglou Academy 及其在尼斯、迪拜和希腊的分校合作。
| 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) | ($0.07) | -14.3% |
| nm = not measurable/meaningful | ||||||
| *numbers may not add due to rounding | ||||||
| 选择财务指标：2021财年第二季度与截至21年10月31日的2020财年* | ||||||
| （单位：$Ms） | 2Q21 | 2Q20 | 改变 | 21 财年年初至今 | 20 财年年初至今 | 改变 |
| 净销售额 | 5.4 美元 | 2.6 美元 | 106.1% | 7.9 美元 | 3.2 美元 | 149.2% |
| 总收入 | 2.1 美元 | 1.0 美元 | 100.4% | 2.9 美元 | 0.7 美元 | 329.4% |
| 毛利率 | 38.6% | 39.7% | 36.2% | 21.0% | ||
| GAAP 营业亏损 | (35.1 美元) | (0.2 美元) | nm | (37.6 美元) | （1.7 美元） | nm |
| 非公认会计准则营业亏损 | (0.8 美元) | (0.1 美元) | nm | （2.5 美元） | (1.6 美元) | nm |
| GAAP 净亏损 | (38.8 美元) | （2.5 美元） | nm | (42.3 美元) | （3.9 美元） | nm |
| 非公认会计准则净亏损 | (1.1 美元) | (0.2 美元) | nm | (2.8 美元) | （2.0 美元） | -40.0% |
| GAAP 每股亏损 | (0.95 美元) | (0.10 美元) | nm | （1.20 美元） | (0.15 美元) | nm |
| 非公认会计准则每股亏损 | (0.03 美元) | (0.01 美元) | nm | (0.08 美元) | (0.07 美元) | -14.3% |
| nm = 不可测量/有意义 | ||||||
| *由于四舍五入，数字可能相加 | ||||||
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.
我们将非公认会计准则营业收入（亏损）定义为相应的GAAP指标，不包括与基于股份的薪酬、与服务相关的股票和认股权证、收购的无形资产的摊销以及与收购相关的支出相关的支出enses。
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：
债务的清偿；d 的摊销息税折现；诱导股权转换；每季度按市值计价的衍生品价值的变化；可转换票据的发行。
Please see reconciliations of all non-GAAP financial measures after the financial statements.
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。
Fiscal 2021 Commentary
2021 财年市场评论
"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.
“展望本财年的下半年，我们有几种催化剂可以将所有部分汇集在一起，以实现我们的 Watch、Play、Learn 策略。首先，我们预计将在未来几周内完成两次转型收购。接下来，我们预计在早春推出具有人工智能驱动性能分析功能的Slinger应用程序和统一的互联网球运动平台。最后，我们将把我们的 Watch、Play、Learn 功能带到新的细分市场，首先在这些产品发布后推出适用于 Pickleball 和 Padel Tennis 的 Slinger Bag 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.
“关于我们2021财年的预期财务业绩，我们预计收入（不包括待收购的收入）为1700万至1,800万美元，比上一年的1,080万美元收入增长57％至67％。我们预计，随着今年退出，调整后的息税折旧摊销前利润将接近盈亏平衡。GAMEFACE.AI 和 PlaySight 交易完成后，我们将更新我们的合并指南。
"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.
“总而言之，在SaaS、订阅和内容收入的推动下，Slinger向体育科技业务的转型让我感到兴奋。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，” 巴拉迪总结道。
The Slinger Bag is available to order or to find out more about Slinger Bag, visit .
Slinger Bag 可供订购，或者要了解有关 Slinger Bag 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
公司将于美国东部时间2021年12月22日星期三上午10点主持网络直播和问答。网络直播将在以下网址播出：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.
Slinger 是一个新的体育品牌，专注于为所有球类运动类别提供创新的游戏改进技术和装备。Slinger的愿景是成为一家领先的互联体育公司，它提高了所有年龄和能力的球员的技能和乐趣水平。Slinger最初专注于通过其Slinger Bag Tennis Ball Launcher和配件在全球网球市场建立自己的品牌。自2020年春季以来，Slinger Bag在全球分销协议中以超过2.5亿美元的零售价值巩固了其概念验证。Slinger已准备好凭借其获得专利、高度便携且价格合理的Slinger Bag Launcher及其联网应用程序和SaaS服务套件颠覆传统的全球市场。
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条和1934年《证券交易法》第21E条以及经修订的《私人证券诉讼改革法》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、可能或假设的未来运营业绩、业务战略、潜在增长机会和其他本质上具有预测性的陈述有关的前瞻性陈述。这些前瞻性陈述基于当前对我们运营所在行业和市场的预期、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
如需查询 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 443-407-7564
如需向 Slinger 媒体查询，请通过 press@slingerbag.com 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
| 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 | ||||||
| 善意 | 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 | ||||||
| 负债总额 | 24,908,155 | 24,148,256 | ||||||
| 承付款和或有开支（注11） | ||||||||
| 股东赤字 | ||||||||
| 普通股，面值0.001美元，授权3亿股，截至2021年10月31日（未经审计）和2021年4月30日分别发行和流通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，分别有0股和6,921,299股可供发行 | 41,870 | 27,643 | ||||||
| 额外的实收资本 | 62,871,881 | 10,365,056 | ||||||
| 累计其他综合亏损 | (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 | ) | ||||
| 负债总额和股东赤字 | $ | 16,725,618 | $ | 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 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 | ||||||||||||
| 在已结束的三个月中 | 在已结束的六个月中 | |||||||||||||||
| 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 | ||||||||||||
| 总收入 | 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 | ||||||||||||
| 一般和管理费用 | 36,197,888 | 829,510 | 38,592,687 | 1,588778 | ||||||||||||
| 研究和开发成本 | 103,318 | 15,439 | 277,366 | 43,549 | ||||||||||||
| 运营费用总额 | 37,189,015 | 1,242,871 | 40,464,959 | 2,332,267 | ||||||||||||
| 运营损失 | (35,104,078 | ) | (202,553 | ) | (37,594,800 | ) | (1,663,864 | ) | ||||||||
| 其他费用（收入）： | ||||||||||||||||
| 债务折扣的摊销 | 2,629,069 | 52,543 | 2,650,285 | 286,251 | ||||||||||||
| 债务消灭造成的损失 | 1,978,295 | 1,999,487 | 7,096,730 | 1,432,820 | ||||||||||||
| 诱发的转换损耗 | - | 51,412 | - | 51,412 | ||||||||||||
| 衍生品公允价值变动的收益 | (4,803,569 | ) | - | (9,130,913 | ) | - | ||||||||||
| 发行可转换票据亏损 | 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 | ||||||||||||
| 其他支出总额 | 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 | ) | ||||||||
| 所得税准备金 | - | - | - | - | ||||||||||||
| 净亏损 | (38,825,357 | ) | (2,524,126 | ) | (42,260,669 | ) | (3,898,152 | ) | ||||||||
| 扣除税款的其他综合收益（亏损） | ||||||||||||||||
| 外币折算调整 | 20,852 | (1,544 | ) | 7,824 | (2,937 | ) | ||||||||||
| 扣除税款的其他综合收益（亏损）总额 | 20,852 | (1,544 | ) | 7,824 | (2,937 | ) | ||||||||||
| 综合损失 | $ | (38,804,505 | ) | $ | (2,525,670 | ) | $ | (42,252,845 | ) | $ | (3,901,089 | ) | ||||
| 基本和摊薄后的每股净亏损 | $ | (0.95 | ) | $ | (0.10) | ) | $ | (1.20 | ) | $ | (0.15) | ) | ||||
| 已发行普通股、基本股和摊薄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
SLINGER BAG INC.
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 | ||||||
| 在已结束的六个月中 | ||||||||
| 10月31日， | 10月31日， | |||||||
| 2021 | 2020 | |||||||
| （未经审计） | （未经审计） | |||||||
| 来自经营活动的现金流 | ||||||||
| 净亏损 | $ | (42,260,669 | ) | $ | (3,898,152 | ) | ||
| 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 | 131,958 | - | ||||||
| 衍生品公允价值变动的收益 | (9,130,913 | ) | - | |||||
| 与服务相关的股票和认股权证 | 1,417,728 | 183,845 | ||||||
| 基于股份的薪酬 | 32,569,112 | - | ||||||
| 债务消灭造成的损失 | 7,096,730 | 1,432,820 | ||||||
| 诱发的转换损耗 | - | 51,412 | ||||||
| 债务折扣的摊销 | 2,650,285 | 286,251 | ||||||
| 发行可转换票据亏损 | 3,689,369 | - | ||||||
| 运营资产和负债的变化： | ||||||||
| 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 | ||||||
| 用于经营活动的净现金 | (5,999,433 | ) | (1,544,039 | ) | ||||
| 来自投资活动的现金流 | ||||||||
| 应收票据发行 | (1,400,000 | ) | - | |||||
| 用于投资活动的净现金 | (1,400,000 | ) | - | |||||
| 来自融资活动的现金流量 | ||||||||
| 可转换票据的收益 | 11,000,000 | - | ||||||
| 与可转换应付票据相关的债务发行成本 | (800,251 | ) | - | |||||
| 应付票据的收益——关联方 | 1,000,000 | 2,000,000 | ||||||
| 应付票据的还款——关联方 | (1,000,000 | ) | - | |||||
| 偿还应付票据 | (2,000,000 | ) | - | |||||
| 应付票据的收益 | - | 12万 | ||||||
| 其他筹资活动 | 9,671 | - | ||||||
| 融资活动提供的净现金 | 8,209,420 | 2,120,000 | ||||||
| 汇率波动对现金和现金等价物的影响 | 8,878 | (2,937 | ) | |||||
| 现金和现金等价物的净变化 | 818,865 | 573,024 | ||||||
| 期初的现金和现金等价物 | 928,796 | 79,847 | ||||||
| 期末的现金和现金等价物 | $ | 1,747,661 | $ | 652,871 | ||||
| 现金流信息的补充披露 | ||||||||
| 支付的利息 | $ | 111,105 | $ | 140,180 | ||||
| 缴纳的所得税 | 3,896 | - | ||||||
| 非现金投资和融资活动的补充披露 | ||||||||
| 为转换应付票据而发行的股份——关联方 | $ | 6,220,003 | $ | - | ||||
| 因收购而发行的股票 | 3,550,000 | - | ||||||
| 消除关联方衍生品负债 | 8,754,538 | - | ||||||
| 以可转换票据的债务折扣形式记录的衍生负债 | 10,199,749 | - | ||||||
| 将应付票据和应计利息转换为普通股 | - | 187,037 | ||||||
| 附有应付票据的认股权证 | - | 70,130 | ||||||
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可用于评估我们的经营业绩。我们共同使用以下非公认会计准则财务指标来评估我们的持续运营以及用于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，并就我们的财务业绩与董事会沟通。我们认为，非公认会计准则财务指标与相应的公认会计准则财务指标一起使用可能会对投资者有所帮助，因为它们排除了某些可能无法表明我们的业务、经营业绩或前景的项目，从而提供与过去财务业绩的一致性和可比性，以及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，不应单独考虑，也不应作为根据公认会计原则提供的财务信息的替代品，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标题相似的非公认会计准则财务指标，或者可能使用其他衡量标准来评估其业绩，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，不要依赖任何单一的财务指标来评估我们的业务，该指标包含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.
我们将非公认会计准则营业收入（亏损）定义为相应的GAAP指标，不包括与基于股份的薪酬、与服务相关的股票和认股权证、收购的无形资产的摊销以及收购相关费用相关的支出。
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.
- 债务的清偿；债务折扣的摊销；激励股权转换；按季度按市值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 | 21 财年年初至今 | 20 财年年初至今 |
| GAAP 营业亏损 | (35.1 美元) | (0.2 美元) | (37.6 美元) | （1.7 美元） |
| 不包括： | ||||
| 基于股份的薪酬 | 32.4 美元 | - | 32.6 美元 | - |
| 与服务相关的股票和认股权证 | 0.8 美元 | 0.1 美元 | 1.4 美元 | 0.1 美元 |
| 收购的无形资产的摊销 | 0.1 美元 | - | 0.1 美元 | - |
| 收购相关费用 | 1.0 美元 | - | 1.0 美元 | - |
| 非公认会计准则营业亏损 | (0.8 美元) | (0.1 美元) | （2.5 美元） | (1.6 美元) |
| 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 | 21 财年年初至今 | 20 财年年初至今 |
| GAAP 净亏损 | (38.8 美元) | （2.5 美元） | (42.3 美元) | （3.9 美元） |
| 不包括以下其他费用（收入）： | ||||
| 债务折扣的摊销 | 2.6 美元 | 0.1 美元 | 2.7 美元 | 0.3 美元 |
| 债务消灭造成的损失 | 2.0 美元 | 2.0 美元 | 7.1 美元 | 1.4 美元 |
| 诱发的转换损耗 | - | 0.1 美元 | - | 0.1 美元 |
| 衍生品公允价值变动的收益 | (4.8 美元) | - | (9.1 美元) | - |
| 发行可转换票据亏损 | 3.7 美元 | - | 3.7 美元 | - |
| 不包括以下运营费用： | ||||
| 基于股份的薪酬 | 32.4 美元 | - | 32.6 美元 | - |
| 与服务相关的股票和认股权证 | 0.8 美元 | 0.1 美元 | 1.4 美元 | 0.1 美元 |
| 收购的无形资产的摊销 | 0.1 美元 | - | 0.1 美元 | - |
| 收购相关费用 | 1.0 美元 | - | 1.0 美元 | - |
| 非公认会计准则净亏损 | (1.1 美元) | (0.2 美元) | (2.8 美元) | （2.0 美元） |
| 非公认会计准则每股亏损 | (0.03 美元) | (0.01 美元) | (0.08 美元) | (0.07 美元) |
译文内容由第三方软件翻译。