Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Tables)

v3.21.2
Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]  
Schedule of weighted average dilutive common shares
    As of September 30,  
    2021     2020  
Restricted common shares     80,000       199,143  
Options     2,565,000       2,430,000  
Warrants     20,091,549       20,091,549  
Convertible debt    
-
      3,609,839  
Equity purchase options     600,000       600,000  
Contingent consideration shares     192,308       269,231  
      23,528,857       27,199,762  

 

Schedule of roll forward of the company’s level 3 instruments
Balance, December 31, 2020   $ 3,000  
Change in fair value of sponsor warrants     36,300  
Balance, March 31, 2021     39,300  
Change in fair value of sponsor warrants     (25,300 )
Balance, June 30, 2021     14,000  
Change in fair value of sponsor warrants     (9,900 )
Balance, September 30, 2021   $ 4,100  

 

Schedule of key inputs into the black-scholes model at the relevant measurement dates
    September 30,     December 31,  
Input   2021     2020  
Risk-free rate     0.53 %     0.27 %
Remaining term in years     2.86       3.61  
Expected volatility     46.0 %     42.0 %
Exercise price   $ 11.50     $ 11.50  
Fair value of common stock   $ 1.77     $ 1.58  

 

Schedule of deferred revenue
    For the Three Months Ended     For the Nine Months Ended  
    September 30,     September 30,  
    2021     2020     2021     2020  
Event revenue   $ 1,002,452     $ 126,289     $ 1,420,364     $ 412,361  
Sponsorship revenue     161,825       314,924       535,355       1,305,014  
Food and beverage revenue     129,549       34,427       300,357       266,726  
Ticket and gaming revenue     159,533       118,996       357,488       270,247  
Merchandising revenue     2,508       678       14,117       19,065  
Other revenue     -       618       100       722  
Total in-person revenue   $ 1,455,867     $ 595,932     $ 2,627,781     $ 2,274,135  

 

    For the Three Months Ended     For the Nine Months Ended  
    September 30,     September 30,  
    2021     2020     2021     2020  
                         
Revenues Recognized at a Point in Time:                        
Event revenue   $ 1,002,452     $ 126,289     $ 1,420,364     $ 412,361  
Distribution revenue     229,961       951       383,684       951  
Food and beverage revenue     129,549       34,427       300,357       266,726  
Ticket and gaming revenue     159,533       118,996       357,488       270,247  
Sponsorship revenue     -       2,502       -       2,502  
Merchandising revenue     2,508       678       14,117       19,065  
Other revenue     -       618       100       722  
Total Revenues Recognized at a Point in Time     1,524,003       284,461       2,476,110       972,574  
                                 
Revenues Recognized Over a Period of Time:                                
Sponsorship revenue     161,825       312,422       535,355       1,302,512  
Total Revenues Recognized Over a Period of Time     161,825       312,422       535,355       1,302,512  
Total Revenues   $ 1,685,828     $ 596,883     $ 3,011,465     $ 2,275,086