RUM Group Inc.
For the period ended Dec 31, 2024. Filed Mar 25, 2025.
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FY2024 · Filed Mar 25, 2025
RUM$5.11+0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| For the year ended December 31, | 2024 | 2023 |
|---|---|---|
| Cash flows provided by (used in) | ||
| Operating activities | ||
| Net loss for the year | $(338,362,779) | $(116,420,462) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Amortization and depreciation | 13,614,587 | 4,850,812 |
| Share-based compensation | 21,530,677 | 16,283,229 |
| Non-cash interest expense | - | 58,815 |
| Net trade and barter revenue and expense | 118,873 | - |
| Non-cash lease expense | 997,541 | 788,799 |
| Change in fair value of warrants | 32,694,697 | (2,365,895) |
| Change in fair value of contingent consideration | 1,354,357 | (1,922,381) |
| Change in fair value of derivative | 184,699,998 | - |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (4,338,494) | (674,981) |
| Prepaid expenses and other | 2,321,553 | (4,990,778) |
| Accounts payable and accrued liabilities | (4,268,101) | 9,612,728 |
| Deferred revenue | 5,690,220 | 5,963,272 |
| Deferred tax liability | (2,009,015) | (3,323,744) |
| Operating lease liabilities | (1,054,589) | (770,727) |
| Net cash used in operating activities | (87,010,475) | (92,911,313) |
| Investing activities | ||
| Purchase of property and equipment | (2,674,114) | (14,572,933) |
| Purchase of intangible assets | (4,493,422) | (2,915,085) |
| Purchase of marketable securities | - | (1,135,200) |
| Sale and maturities of marketable securities | 1,135,200 | 1,100,000 |
| Cash acquired in connection with Callin acquisition | - | 1,000,989 |
| Cash paid to non-accredited investors in connection with Callin acquisition | (2,488,931) | - |
| Cash paid in connection with North River acquisition | (7,122,868) | (7,249,085) |
| Net cash used in investing activities | (15,644,135) | (23,771,314) |
| Financing activities | ||
| Taxes paid from net share settlement for share-based compensation | (1,963,132) | (2,107,516) |
| Proceeds from exercise of stock options | 663,204 | - |
| Share issuance costs | (365,220) | (40,478) |
| Net cash used in financing activities | (1,665,148) | (2,147,994) |
| Decrease in cash and cash equivalents during the period | (104,319,758) | (118,830,621) |
| Cash and cash equivalents, beginning of year | 218,338,658 | 337,169,279 |
| Cash and cash equivalents, end of year | $114,018,900 | $218,338,658 |
| Supplemental cash flow information: | ||
| Cash paid for income taxes | $71,864 | $31,974 |
| Cash paid for interest | 288 | 4,212 |
| Cash paid for lease liabilities | 1,242,376 | 770,727 |
| Non-cash investing and financing activities: | ||
| Non-cash consideration related to the acquisition of Callin (Note 3) | - | 18,226,572 |
| Class A Common Stock issued to settle contingent consideration liability | 1,404,753 | - |
| Deferred issuance costs included in accounts payable and accrued liabilities | 880,000 | - |
| Property and equipment in accounts payable and accrued liabilities | 46,210 | 123,946 |
| Recognition of operating right-of-use assets in exchange of operating lease liabilities, net of derecognition of terminated leases | 276,738 | 1,906,248 |
| Settlement of loan receivable in exchange for Class A Common Stock | - | 391,235 |
| Share-based compensation capitalized related to intangible assets | 736,966 | - |
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