| Summary of Significant Accounting Policies | Note
1 – Summary of Significant Accounting Policies Nature
of Business The
Company is a Delaware corporation. SharpLink is an online performance marketing company that delivers unique fan activation solutions
to its sportsbook and casino partners. Through its global affiliate marketing network, known as PAS.net, SharpLink drives qualified traffic
and player acquisitions, retention and conversions to U.S. regulated sportsbooks and global casino gaming partners worldwide. In addition,
SharpLink owns a performance marketing platform through which the Company owns and operates state-specific web domains designed to attract,
acquire and drive local sports betting and casino traffic directly to its sportsbook and casino partners which are licensed to operate
in each respective state. Prior
to the sale of SharpLink’s Sports Gaming Client Services and SportsHub Gaming Network business units in January 2024 to RSports Interactive, Inc. (“RSports”),
a Minnesota corporation, (the “Equity Sale”), the SportsHub Gaming Network unit owned and operated an online gaming
business that primarily facilitated daily and seasonal peer-to-peer fantasy contests for its end users. The SportsHub Gaming Network
business unit also operated a website that provided a variety of services to private fantasy league commissioners, including secure
online payment options, transparent tracking and reporting of transactions, payment reminders, in-season security of league funds,
and facilitation of prize payouts. SharpLink’s F2P sports game development business was engaged in the provision of F2P sports
game and mobile app development services to a marquis list of customers, which included several of the biggest names in sports and
sports betting, including Turner Sports, NBA, NFL, PGA TOUR, NASCAR and BetMGM, among others. On
January 18, 2024, the Company entered into a Purchase Agreement (the “PA”) with RSports to sell the Company’s fantasy
sports and sports game development business units to RSports. All of the issued and outstanding common stock or membership interests
of Sports Technologies, LLC, a Minnesota limited liability company, SHGN and Holdings Quinn, LLC, a Delaware limited liability company
(collectively referred to as the “Divested Operations”) were sold for $ 22,500,000 Discontinued Operations On
February 13, 2024, SharpLink Israel completed its previously announced domestication merger (“Domestication Merger”), pursuant
to the terms and conditions set forth in an Agreement and Plan of Merger (the “Domestication Merger Agreement”), dated June
14, 2023 and amended July 24, 2023, among SharpLink Israel, SharpLink Merger Sub Ltd., an Israeli company and a wholly owned subsidiary
of SharpLink US (“Domestication Merger Sub”) and SharpLink Gaming, Ltd. (“SharpLink US”). The Domestication Merger
was achieved through a merger of SharpLink Merger Sub with and into SharpLink Israel, with SharpLink Israel surviving the merger and
becoming a wholly owned subsidiary of SharpLink US. The Domestication Merger was approved by the shareholders of SharpLink Israel at
an extraordinary special meeting of shareholders held on December 6, 2023. SharpLink US’s Common Stock commenced trading on the
Nasdaq Capital Market under the same ticker symbol, SBET, on February 14, 2024. See Note 18. As
a result of the Domestication Merger, all SharpLink Israel ordinary shares outstanding immediately
prior to the Domestication Merger will automatically convert, on a one-for-one basis, into the right to receive, and become exchangeable
for, shares of SharpLink US common stock, par value $ 0.0001 The
following represents the expected change in the par value based on the outstanding ordinary and preferred shares at December 31, 2023
to common and preferred stock after the redomestication on February 13, 2024: Schedule
of Expected Change in Par Value
Ordinary Shares
Par value for ordinary shares at $ 0.20 $ 572,770
Par value for common stock at $ 0.0001 286
Net change in par value -- will be reflected in additional paid-in capital $ 572,484
Preferred Shares
Par value for Series A-1 preferred stock at $ 0.20 $ 1,440
Par value for Series B preferred stock at $ 0.20 2,496
Total $ 3,936
Par value for preferred stock at $ 0.0001 2
Net change in par value -- will be reflected in additional paid-in capital $ 3,934 Principles
of Consolidation The
accompanying consolidated financial statements include the accounts of SharpLink Gaming Inc. and its wholly owned subsidiaries. All intercompany
accounts and transactions between consolidated subsidiaries have been eliminated in consolidation. We
operate in two reportable segments. Operating segments are defined as components of an enterprise about which separate financial
information is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and assessing
performance. The Company’s chief operating decision maker (“CODM”), our Chief Executive Officer, allocates
resources and assesses performance based upon discrete financial information at the segment level. Reclassifications Certain
amounts in prior periods have been reclassified to reflect the impact of the discontinued operations treatment in order to conform to
the current period presentation. See Note 3. Functional
Currency The
Company’s functional and reporting currency is the U.S. dollar. Transactions in foreign currencies are recorded at the exchange
rate prevailing on the date of the transaction. The resulting monetary assets and liabilities are translated into U.S. dollars at exchange
rates prevailing on the subsequent balance sheet date. Revenue and expense components are translated to U.S. dollars at weighted-average
exchange rates in effect during the period. Foreign currency transaction gains and losses resulting from remeasurement are recognized
in other income, net within the consolidated statements of operations. Reverse
Share Split On
April 23, 2023, the Company effected a one-for-ten (1:10) reverse share split of all the Company’s share capital and adopted
amendments to its Memorandum of Association and Second Amended and Restated Articles of Association (“M&AA”) whereby
the Company (i) decreased the number of issued and outstanding ordinary shares, nominal value NIS 0.60 26,881,244 2,688,541 92,900,000 0.06 0.02 9,290,000 0.60 0.20 Discontinued
Operations In
June 2022, the Company’s Board of Directors approved management to enter into negotiations to sell MTS. The Company completed the
sale of MTS on December 31, 2022. Accordingly, the assets and liabilities of the MTS business are separately reported as assets and liabilities
from discontinued operations as of December 31, 2023 and 2022 The results of operations and cash flows of MTS for all periods are separately
reported as discontinued operations. In
December 2023, the Company’s Board of Directors approved management to enter into a Letter of Intent with RSports for RSports to
purchase the Company’s Sports Gaming Client Services and SportsHub Gaming Network businesses. In
December 2023, the Company discontinued its C4 technology due to the lack of market acceptance. C4 technology centered on cost effectively
monetizing our own and our customers’ respective online audiences of U.S. fantasy sports and casual sports fans and casino gaming
enthusiasts by converting them into loyal online sports and iGaming bettors. On
January 18, 2024, the Company entered into a PA with RSports to sell the Company’s fantasy sports and sports game development business
units to RSports. All of the issued and outstanding common stock or membership interests of Sports Technologies, LLC, a Minnesota limited
liability company, SHGN and Holdings Quinn, LLC, a Delaware limited liability company were sold for $ 22,500,000 See Note 3. Business
Combinations The
purchase price of an acquired business is allocated to the assets acquired and liabilities assumed at their estimated fair values on
the date of acquisition using the acquisition method of accounting. Any unallocated purchase price amount is recognized as goodwill on
the consolidated balance sheet if it exceeds the estimated fair value and as a bargain purchase gain on the consolidated statement of
operations if it is below the estimated fair value. Determining the fair value of assets acquired and liabilities assumed requires management’s
judgment, and the utilization of independent valuation experts as well as the use of significant estimates and assumptions with respect
to the timing and amounts of future cash inflows and outflows, discount rates, market prices and asset lives, among other items. The
judgments made in the determination of the estimated fair value assigned to the assets acquired and liabilities assumed, as well as the
estimated useful life of each asset and the duration of each liability, can materially impact the financial statements in periods after
acquisition, such as through depreciation and amortization expense. Acquisition-related costs are expensed as incurred and changes in
deferred tax asset valuation allowances and income tax uncertainties after the measurement period are recorded in Provision for Income
Taxes. Restricted
Cash Restricted
cash consists of funds held for payment of prize liabilities for various daily and seasonal peer-to-peer fantasy games, as well as private
fantasy league dues from customers who utilize the services previously offered via the Company’s secure online payment and league
dues management website. The Company maintained separate accounts to segregate users’ funds from operational funds. See Note
3. Concentrations
of Credit Risk Cash
and restricted cash are deposited with major banks in the United States and Israel. Such deposits in the United States may be in excess
of insured limits and are not insured in other jurisdictions. Generally, the FDIC limit per bank is $ 250,000 The
following represents the cash on hand at December 31, 2023 by banking institution and does not include any reduction
for the FDIC insured limit of $ 250,000 Schedule of Cash and Restricted Cash
Bank December 31, 2023
Platinum Bank $ 145,436
Deerwood Bank 2,040,937
First Citizens 222,639
Other 78,469
Total $ 2,487,481 The
Company performs ongoing credit evaluations of its customers. In certain circumstances, the Company may require letters of credit, other
collateral or additional guarantees. Accounts
Receivable The
Company’s policy for estimating the allowance for credit losses on accounts receivables considers several factors including
historical loss experience, the age of delinquent receivable balances due, and economic conditions. Specific customer reserves are
made during review of significant outstanding balances due, in which customer creditworthiness and current economic trends may
indicate that it is probable the receivable will not be recovered. Accounts receivables are written off after collection efforts
occur and the receivable is deemed uncollectible. Adjustments to the allowance for credit losses are recorded in selling, general
and administrative expense. Allowance for credit losses as of December 31, 2023 and 2022 were $ 0 0 Investment,
cost During
the year ended December 31, 2021, the Company invested $ 200,000 280,903 1.12 See Note 3. Contract Assets Contract assets include unbilled revenue, which is
the amount of revenue recognized in excess of the amount billed to customers and costs incurred incremental to the contract and to fulfill
contract obligations. See Note 3. Deferred Prize Expense Deferred prize expense consists of the expense
related to prize funds offered through various fantasy games hosted by the Company. These prize funds are paid to the participants once
a fantasy game has concluded and final winners have been determined. Deferred prize expense is recognized over the life of the fantasy
games and is reported as a current asset in discontinued operations. See Note 3. Equipment Equipment
is recorded at cost. Expenditures for renewals and improvements that significantly add to the productivity capacity or extend the useful
life of an asset are capitalized. Expenditures for maintenance and repairs are expensed. When equipment is retired or sold, the cost
and related accumulated depreciation are eliminated from the accounts and the resultant gain or loss is reflected in income. Depreciation
is provided using the straight-line method, based on useful lives of the assets which ranges from three to seven years. Depreciation
expense from continuing operations for the years ended December 31, 2023 and 2022, was $ 10,289 and $ 10,479 ,
respectively. Accumulated depreciation from continuing operations as of December 31, 2023 and 2022 was $ 24,759
and $ 18,441 ,
respectively. Leases The
Company determines if an arrangement is or contains a lease at inception or modification of the arrangement. An arrangement is or contains
a lease if there are identified assets and the right to control the use of an identified asset is conveyed for a period of time in exchange
for consideration. Control over the use of the identified asset means the lessee has both the right to obtain substantially all of the
economic benefits from the use of the asset and the right to direct the use of the asset. For
a lease with terms greater than a year, a right-of-use (ROU) asset and lease liability is recognized based on the present value of the
future minimum lease payments over the lease term at commencement date. The initial measurement of the operating lease ROU asset also
includes any prepaid lease payments and are reduced by any previously accrued deferred rent. The Company’s operating lease does
not provide a readily determinable implicit rate; therefore, the Company uses its incremental borrowing rate to discount the lease payments
based on the information available at commencement date ( 7.2% See Note 3 Intangible
and Long-Lived Assets Intangible
assets consist of internally developed software, customer relationships, trade names and acquired technology and are carried at cost
less accumulated amortization. The Company amortizes the cost of identifiable intangible assets on a straight-line basis over the expected
period of benefit, which ranges from three ten years Costs
associated with internally developed software are expensed as incurred unless they meet generally accepted accounting criteria for deferral
and subsequent amortization. Software development costs incurred prior to the application development stage are expensed as incurred.
For costs that are capitalized, the subsequent amortization is the straight-line method over the remaining economic life of the product,
which is estimated to be five years The
Company begins amortizing the asset and subsequent enhancements once the software is ready for its intended use. The Company reassesses
whether it has met the relevant criteria for deferral and amortization at each reporting date. The Company capitalized $ 273,999 23,048 The
Company reviews the carrying value of its long-lived assets, including equipment and finite-lived intangible assets, for impairment whenever
events and circumstances indicate that the carrying value of an asset may not be recoverable from the estimate future cash flows expected
to result from its use and eventual disposition. In cases where undiscounted cash flows are less than the carrying value of an asset
group, an impairment loss is recognized equal to an amount by which the asset group’s carrying value exceeds the fair value of
assets. The factors considered by management in performing this assessment include current operating results, trends and prospects, the
manner in which the property is used, and the effects of customer loss, obsolescence, demand, competition, and other economic factors. During
the fourth quarter of 2023, management determined the Company had experienced a triggering event due to receiving notification the Company’s
largest Affiliate Marketing Services – International customer was in the process of leaving the European Poker Affiliate Solutions
market, which would reduce future marketing commissions, The Company impaired the customer relationships intangible asset and software
in development for Affiliate Marketing International as a result of this information and impact on future cash flows. The impairment
charge has been included in the Goodwill and intangible asset impairment expense line item in the consolidated statement operations for
the year ended December 31, 2023. During
the year ended December 31, 2022, the Company recorded $ 3,211,000 Goodwill
and Impairment The
Company evaluates the carrying amount of goodwill annually or more frequently if events or circumstances indicate that the goodwill may
be impaired. Factors that could trigger an impairment review include significant underperformance relative to historical or forecasted
operating results, a significant decrease in the market value of an asset or significant negative industry or economic trends. The Company
completes impairment reviews for its reporting units using a fair-value method based on management’s judgments and assumptions.
When performing its annual impairment assessment, the Company evaluates the recoverability of goodwill assigned to each of its reporting
units by comparing the estimated fair value of the respective reporting unit to the carrying value, including goodwill. The Company estimates
fair value utilizing the income approach and the market approach or a combination of both income and market approaches. The
income approach requires management to make assumptions and estimates for each reporting unit, including projected future operating results,
economic projections, anticipated future cash flows, working capital levels, income tax rates, and a weighted-average cost of capital
reflecting the specific risk profile of the respective reporting unit. The key assumptions used in the income approach include revenue
growth, operating income margin, discount rate and terminal growth rate. These assumptions are the most sensitive and susceptible to
change as they require significant management judgment. Discount rates are determined by using market and industry data as well as Company-specific
risk factors for each reporting unit. The discount rate utilized for each reporting unit is indicative of the return an investor would
expect to receive for investing in such a business. The
market approach estimates fair value using performance multiples of comparable publicly traded companies. In the event the fair value
of a reporting unit is less than the carrying value, including goodwill, an impairment loss is recognized for the difference between
the implied fair value and the carrying value of the reporting unit. The
Company recorded goodwill impairment of $ 1,615,167 1,515,000 See Note 3
for discontinued operations impairment. Accounts
Payable The
composition of accounts payable and accrued expenses from continuing operations are as follows: Schedule of Accounts Payable and Accrued Expenses
December 31, 2023 December 31, 2022
Accounts payable $ 834,060 $ 689,159
Accrued wages and payroll expenses 63,359 115,739
Accrued bonus 305,747 208,964
Accrued interest 48,875 -
Other accrued expenses 211,658 452,519
Accounts payable and
accrued expenses $ 1,463,699 $ 1,466,381 Prize
Liability The
Company’s prize liability consists of funds to be paid to participants of the various fantasy games hosted by the Company. These
prizes are paid to the participants once a fantasy game has concluded and final winners have been determined. Prize liability is recorded
in current liabilities from discontinued operations. See Note 3. Customer
Deposits The
Company’s liability for customer obligations is in wallet accounts and accounts on the SportsHub platform. Cash related to these
accounts may be drawn at the customer’s request. Customer deposits are recorded in current liabilities from discontinued operations.
See Note 3. Contract Liabilities Contract liabilities include payments received and billings made in advance of the satisfaction of performance obligations
under the contract and are realized when the associated revenue is recognized under the contract. See Note 3. Severance
Pay Certain
of the Company’s employees in Israel subscribed to Section 14 of Israel’s Severance Pay Law, 5723-1963 (“Section 14”).
Pursuant to Section 14, the Company’s employees, covered by this section, are entitled to monthly deposits, at a rate of 8.33 With
regards to employees in Israel that are not subject to Section 14, the Company’s liability for severance pay is calculated pursuant
to the local Severance Pay Law, based on the most recent salary of the relevant employees multiplied by the number of years of employment
as of the balance sheet date. These employees are entitled to one-month salary for each year of employment or a portion thereof. The
Company’s liability for these employees is fully provided for via monthly deposits with severance pay funds, insurance policies
and an accrual. The value of the liability of $ 0 342,000 0 279,000 See
Note 3. Convertible Debenture
at Fair Value The Company accounts for
convertible debentures using an amortized cost model. The discount for warrants, the Original Issuance Discount (“OID”) and
the initial allocation of fair value of compound derivatives reduce the initial carrying amount of the convertible notes. The carrying
value is accredited to the stated principal amount at contractual maturity using the effective-interest method with a corresponding charge
to interest expense. Debt discounts are presented on the consolidated balance sheets as a direct deduction from the carrying amount of
that related debt. The Company made an irrevocable
election at the time of issuance of the Debenture to record the Debenture at its fair value (the “Fair Value Option”) with
changes in fair value recorded through the Company’s consolidated statements of operations within other income (expense) at each
reporting period. The Fair Value Option provides the Company a measurement basis election for financial instruments on an instrument-by-instrument
basis. Treasury
Stock Company
shares held as treasury shares are recognized at cost, and as a deduction from equity. Any gain or loss arising from a purchase, sale,
issuance or cancellation of treasury shares is recognized directly in equity at the time of such event. Warrants The
Company accounts for a warrant as an equity instrument, liability or share-based compensation in accordance with ASC 480, Distinguishing
Liabilities from Equity, and/or ASC 718, Compensation – Stock Compensation, depending on the specific terms of the agreement. Revenue The
Company follows a five-step model to assess each sale to a customer; identify the legally binding contract, identify the performance
obligations, determine the transaction price, allocate the transaction price, and determine whether revenue will be recognized at a point
in time or over time. Revenue is recognized upon transfer of control of promised products or services (i.e., performance obligations)
to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for promised goods
or services. The
Affiliate Marketing Services – United States and the Affiliate Marketing Services – International operating segments generate
revenue by earning commissions from sportsbooks and casino operators when a new depositor is directed to them by our affiliate marketing
websites. See Note 14 The
Sports Gaming Client Services operating segments’ performance obligations are satisfied over time (software licenses). Software
license revenue is recognized when the customer has access to the license and the right to use and benefit from the license. Other items
relating to charges collected from customers include reimbursable expenses. Charges collected from customers as part of the Company’s
sales transactions are included in revenues and the associated costs are included in cost of revenues. See Note 3. The
Company’s SportsHub operating segment collects fees from customers for daily and season-long online fantasy sports games in
advance and recognizes the related fees over the term of the online fantasy game. It also collects various forms of fee revenue from
customers using its wallet system platform. Its performance obligation is to provide these customers with an online platform to
collect entry fees, provide transparency into league transactions, encourage timely payment of entry fees, safeguard funds during
the season and facilitate end-of-season prize payouts. Fee revenue related to payment transactions is deferred until the end of the
specific season. Other types of fee revenue are recognized on a transactional basis when users complete transactions or when a
customer’s account becomes inactive under the terms of the user agreement. SportsHub also provides sports simulation software
that customers pay a fee to access over a period of time. SportsHub provides and maintains the software throughout the duration of
the season, which constitutes a single performance obligation and revenue is recognized over the term of the service. SportsHub also
collects subscription fees from users of its Fantasy National Golf Club. Its performance obligation under these contracts is to
provide subscribers with access to SportsHub’s intellectual property. Revenue is initially deferred and recognized ratably
over the subscription period. Any discounts, promotional incentives or waived entry fees are treated as a reduction in revenue. Any
minimal promotions where funds are issued to a user’s wallet account are recognized as marketing expenses, included in
selling, general, and administrative expenses. See Note 3. Advertising
and Marketing Expenses The
Company incurred $ 675,496 176,224 514,087 13,093 Stock-Based
Compensation Stock-based
compensation expense reflects the fair value of stock-based awards measured at the grant date and recognized over the requisite service
period. The Company estimates the fair value of each stock-based award on the measurement date using the Black-Scholes option valuation
model which incorporates assumptions as to stock price volatility, the expected life of the options, risk-free interest rate, and dividend
yield. Income
Taxes The
Company accounts for income taxes in accordance with ASC Topic 740, Income Taxes, under which deferred tax liabilities and assets are
recognized for the expected future tax consequences of temporary differences between financial statement carrying amounts and the tax
basis of assets and liabilities, net operating losses, and tax credit carryforwards. Valuation allowances are established when necessary
to reduce deferred tax assets to the amount expected to be realized. The
Company uses a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position
taken or expected to be taken in a tax return. A tax position is recognized when it is more likely than not that the tax position will
be sustained upon examination, including resolution of any related appeals or litigation processes. A tax position that meets the more-likely-than-not
recognition threshold is measured at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement
with a taxing authority. The standard also provides guidance on derecognition of tax benefits, classification on the balance sheet, interest
and penalties, accounting in interim periods, disclosure and transition. Net
Loss Per Share Basic
net loss per share is calculated by dividing net loss available to ordinary shareholders, adjusted for preferred stock discount
accretion and dividends accrued on preferred stock, by the weighted-average number of ordinary shares outstanding during the period
excluding the effects of any potentially dilutive securities. Diluted net loss per share is computed similar to basic loss per
share, except that the denominator is increased to include the number of additional ordinary shares that would have been outstanding
if potential ordinary shares had been issued if such additional common shares were dilutive. Since the Company had net losses for all
the periods presented, basic and diluted loss per share are the same, and additional potential ordinary shares have been excluded, as
their effect would be anti-dilutive. At December 31, 2023, dividend accrued in Preferred Series A-1 stock of 7,202 12,481 414,819 1,158,015 6,630 12,481 288,914 400,359 The
calculation of the net loss per share and weighted-average shares of the Company’s ordinary shares outstanding for the periods
presented are as follows: Schedule of Loss Per Share and Weighted-average
For the Year Ended December 31,
2023 2022
Net loss from continuing operations $ (11,248,598 ) $ (14,095,646 )
Less: deemed dividends on series B preferred stock (48,633 ) -
Less: dividends on series B preferred stock (1,861 ) (8,862 )
Net loss from continuing operations available to ordinary shareholders (11,299,092 ) (14,104,508 )
Net loss from discontinued operations, net of tax, available to ordinary shareholders (2,994,584 ) (1,137,732 )
Net loss available to ordinary shareholders $ (14,293,676 ) $ (15,242,240 )
Basic and diluted weighted-average shares outstanding 2,760,970 2,487,960
Basic and diluted:
Net loss from continuing operations per share $ (4.09 ) $ (5.67 )
Net loss from discontinued operations per share (1.08 ) (0.46 )
Net loss per share $ (5.17 ) $ (6.13 ) Fair
Value Measurements The
Company has determined the fair value of certain assets and liabilities in accordance with generally accepted accounting principles,
which provides a framework for measuring fair value. Fair value is defined as the exchange price that would be received for an asset
or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly
transaction between market participants on the measurement date. Valuation techniques should maximize the use of observable inputs and
minimize the use of unobservable inputs. A
fair value hierarchy has been established, which prioritizes the valuation inputs into three broad levels. Level 1 inputs consist of
quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement
date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the related asset or liability.
Level 3 inputs are unobservable inputs related to the asset or liability. Estimates The
preparation of the consolidated financial statements in conformity with generally accepted accounting principles requires management
to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial
statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Our most critical estimates include those related to the use of the acquisition method of accounting for business combinations, intangibles
and long-lived asset impairments, goodwill and impairment, convertible debenture fair value, stock based compensation, discontinued operations
and revenue recognition. On an ongoing basis, we evaluate our estimates and assumptions. We base our estimates on historical experience
and on various other factors that we believe are reasonable under the circumstances, the results of which form the basis for making judgments
about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results could differ from
those estimates. Contingencies From
time to time, we may become involved in lawsuits and legal proceedings which arise in the ordinary course of business. However, litigation
is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business.
Although we currently maintain liability insurance coverage intended to cover professional liability and certain other claims, we cannot
assure that our insurance coverage will be adequate to cover liabilities arising out of claims asserted against us in the future where
the outcomes of such claims are unfavorable to us. Liabilities in excess of our insurance coverage, including coverage for professional
liability and certain other claims, could have a material adverse effect on our business, financial condition and results of operations. Recently
Adopted Accounting Pronouncements In
August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion |
