Glimpse Group Inc
For the period ended Mar 31, 2024. Filed May 15, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 15, 2024
BTLN$3.67+4.3%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
| For the Nine Months Ended March 31, | ||||
|---|---|---|---|---|
| 2024 · 2023 | ||||
| Cash flows from operating activities: | ||||
| Net loss | $(2,400,066) | $(9,296,960) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||
| Amortization and depreciation | 1,040,759 | 1,645,846 | ||
| Common stock and stock option based compensation for employees and board of directors | 1,742,126 | 2,784,667 | ||
| Accrued non cash performance bonus fair value adjustment | (551,236) | - | ||
| Acquisition contingent consideration fair value adjustment | (4,317,524) | (677,113) | ||
| Impairment of goodwill and intangible assets | 901,204 | 479,182 | ||
| Issuance of common stock to vendors as compensation | 88,472 | 5,238 | ||
| Adjustment to operating lease right-of-use assets and liabilities | (99,144) | (15,056) | ||
| Changes in operating assets and liabilities: | ||||
| Accounts receivable | 478,598 | (48,340) | ||
| Deferred costs/contract assets | 86,347 | 519,673 | ||
| Prepaid expenses and other current assets | (251,030) | (120,436) | ||
| Other assets | (1,506) | 149,962 | ||
| Accounts payable | (214,705) | (525,832) | ||
| Accrued liabilities | (388,644) | (149,673) | ||
| Deferred revenue/contract liabilities | (396,546) | (2,348,561) | ||
| Net cash used in operating activities | (4,282,895) | (7,597,403) | ||
| Cash flow from investing activities: | ||||
| Purchases of equipment | (19,346) | (139,420) | ||
| Acquisitions, net of cash acquired | - | (2,522,756) | ||
| Purchase of investments | - | (8,197) | ||
| Net cash used in investing activities | (19,346) | (2,670,373) | ||
| Cash flows provided by financing activities: | ||||
| Proceeds from securities purchase agreement, net | 2,968,501 | - | ||
| Proceeds from exercise of stock options | - | 66,111 | ||
| Cash provided by financing activities | 2,968,501 | 66,111 | ||
| Net change in cash, cash equivalents and restricted cash | (1,333,740) | (10,201,665) | ||
| Cash, cash equivalents and restricted cash, beginning of year | 5,619,083 | 18,249,666 | ||
| Cash, cash equivalents and restricted cash, end of period | $4,285,343 | $8,048,001 | ||
| Non-cash Investing and Financing activities: | ||||
| Issuance of common stock for satisfaction of contingent liability | $974,647 | $2,093,037 | ||
| Issuance of common stock for non cash performance bonus | $490,360 | $ | - | |
| Lease liabilities arising from right-of-use assets | $113,182 | $1,221,513 | ||
| Note receivable for sale of subsidiary assets | $1,000,000 | $ | - | |
| Allowance against note receivable | $(1,000,000) | $ | - | |
| Common stock issued for acquisition | $ | - | $2,845,430 | |
| Contingent acquisition consideration liability recorded at closing | $ | - | $6,139,000 | |
| Common stock issued for purchase of intangible asset - technology | $ | - | $326,436 | |
| Issuance of common stock for satisfaction of contingent liability, net of note extinguishment | $ | - | $318,571 | |
| Extinguishment of note receivable for satisfaction of contingent liability | $ | - | $250,000 | |
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