Glimpse Group Inc
For the period ended Jun 30, 2024. Filed Sep 30, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Sep 30, 2024
BTLN$3.67+4.3%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| For the Year Ended June 30, | ||||
|---|---|---|---|---|
| 2024 · 2023 | ||||
| Cash flows from operating activities: | ||||
| Net loss | $(6,394,295) | $(28,563,283) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||
| Amortization and depreciation | 1,361,628 | 2,192,982 | ||
| Common stock and stock option based compensation for employees and board of directors | 2,175,072 | 4,974,519 | ||
| Accrued non cash performance bonus fair value adjustment | (551,239) | - | ||
| Acquisition contingent consideration fair value adjustment | (4,272,080) | (696,722) | ||
| Impairment of intangible assets | 2,942,369 | 15,351,842 | ||
| Gain on divestiture of subsidiary | 1,000,000 | - | ||
| Reserve on note received in connection with divestiture of subsidiary | (1,000,000) | - | ||
| Issuance of common stock to vendors | 100,372 | 5,238 | ||
| Adjustment to operating lease right-of-use assets and liabilities | (110,866) | (8,330) | ||
| Changes in operating assets and liabilities: | ||||
| Accounts receivable | 730,738 | 132,193 | ||
| Deferred costs/contract assets | (12,229) | 433,557 | ||
| Prepaid expenses and other current assets | (216,018) | (182,410) | ||
| Other assets | (948) | 149,963 | ||
| Accounts payable | (274,109) | (419,716) | ||
| Accrued liabilities | (294,637) | (120,181) | ||
| Deferred revenue/contract liabilities | (393,605) | (2,412,066) | ||
| Net cash used in operating activities | (5,209,847) | (9,162,414) | ||
| Cash flow from investing activities: | ||||
| Purchases of equipment | (31,548) | (146,333) | ||
| Acquisitions, net of cash acquired | - | (2,627,261) | ||
| Payment of contingent consideration for acquisitions | (1,497,894) | (1,000,000) | ||
| Sale of investments | - | 239,314 | ||
| Net cash used in investing activities | (1,529,442) | (3,534,280) | ||
| 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 | (3,770,788) | (12,630,583) | ||
| Cash, cash equivalents and restricted cash, beginning of year | 5,619,083 | 18,249,666 | ||
| Cash and cash equivalents, end of year | $1,848,295 | $5,619,083 | ||
| Non-cash Investing and Financing activities: | ||||
| Issuance of common stock for satisfaction of contingent liability | $974,646 | $3,059,363 | ||
| Issuance of common stock for non cash performance bonus | $490,357 | $ | - | |
| Lease liabilities arising from right-of-use assets | $ | - | $429,329 | |
| Common stock issued for acquisition | $ | - | $2,846,144 | |
| Contingent acquisition consideration liability recorded at closing | $ | - | $7,325,000 | |
| Common stock issued for purchase of intangible asset - technology | $ | - | $326,435 | |
| Issuance of common stock for satisfaction of prior year acquisition liability | $ | - | $734,037 | |
| 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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