General form of registration statement for all companies including face-amount certificate companies

Significant Accounting Policies (Tables)

v3.20.1
Significant Accounting Policies (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Schedule of antidiluted shares

    For the Three Months Ended
March 31,
 
    2020     2019  
Common shares subscribed     1,018,848       -  
Options     2,360,000       -  
Warrants     18,637,003       3,800,000  
Convertible debt     1,647,058       -  
Unit purchase options     600,000       600,000  
Contingent consideration shares     3,846,153       -  
      28,109,062       4,400,000  

    For the Years Ended December 31,  
    2019     2018  
Options     2,480,000       -  
Warrants     18,637,003       3,800,003  
Convertible debt     1,647,058       -  
Unit purchase options     600,000       -  
Contingent consideration shares     3,846,153       -  
      27,210,214       3,800,003  
Schedule of estimated useful lives of property and equipment  

Equipment

 3 - 5 years
Computer equipment  3 - 5 years
Production equipment 5 years
Furniture and fixtures  3 - 5 years
Software  1 - 5 years
Gaming truck 5 years
Leasehold improvements 14 years
Schedule of restatement on the Company’s financial statements  
    Year Ended 
December 31, 
2019
 
    As Previously
Reported
    Restated  
Weighted average common shares outstanding used to compute net loss per share, basic and diluted     18,098,797       16,159,144  
                 
Basic and diluted net loss per common share   $ (0.92 )   $ (1.04 )

 

Adjustment under 606 [Member]    
Schedule of revenue recognition
    For the Three Months Ended  
    March 31,  
    2020     2019  
             
Revenues Recognized at a Point in Time:            
Event revenue   $ 1,470,628       1,679,759  
Distribution revenue     456,919       434,749  
Social gaming revenue     261,924       104,784  
Food and beverage revenue     232,299       371,866  
Sponsorship revenue     2,502       67,295  
Ticket and gaming revenue     138,687       172,039  
Merchandising revenue     18,049       50,572  
Music royalty revenue     373,739       299,369  
Online advertising revenue     1,955       -  
Other revenue     10,546       4,045  
Total Revenues Recognized at a Point in Time     2,967,248       3,184,478  
                 
Revenues Recognized Over a Period of Time:                
Subscription revenue     1,286,789       1,227,623  
Sponsorship revenue     826,937       773,614  
Virtual product revenue     924,315       923,495  
Licensing revenue     39,764       125,838  
Total Revenues Recognized Over a Period of Time     3,077,805       3,0550,570  
Total Revenues   $ 6,045,053     $ 6,235,048  
  For the Years Ended  
    December 31,  
    2019     2018  
             
Revenues Recognized at a Point in Time:                
Event revenue   $ 7,179,917     $ 5,089,006  
Food and beverage revenue     1,158,004       814,247  
Ticket and gaming revenue     543,204       1,621,721  
Merchandising revenue     171,014       167,194  
Sponsorship revenue     575,067       716,277  
Music royalty revenue     1,573,247       1,031,425  
Online advertising revenue     7,442       21,161  
Social gaming revenue     555,643       674,497  
Content revenue     50,000       -  
Other revenue     71,926       94,346  
Total Revenues Recognized at a Point in Time     11,885,464       10,229,874  
                 
Revenues Recognized Over a Period of Time:                
Sponsorship revenue     3,679,248       1,104,129  
Licensing revenue     290,164       349,199  
Subscription revenue     4,823,510       4,964,086  
Virtual product revenue     3,699,180       3,093,973  
Distribution revenue     1,694,429       861,994  
Total Revenues Recognized Over a Period of Time     14,186,531       10,373,381  
                 
Total Revenues   $ 26,071,995     $ 20,603,255  
In-person [Member]    
Schedule of revenue recognition
  For the Three Months Ended  
    March 31,  
    2020     2019  
Event revenue   $ 1,470,628     $ 1,679,759  
Sponsorship revenue     445,155       473,405  
Food and beverage revenue     232,299       371,866  
Ticket and gaming revenue     138,687       172,039  
Merchandising revenue     18,049       50,572  
Other revenue     104       -  
Total in-person revenue   $ 2,304,922     $ 2,747,641  
    For the Years Ended  
    December 31,  
    2019     2018  
Event revenue   $ 7,179,917     $ 5,089,006  
Sponsorship revenue     2,081,029       488,329  
Food and beverage revenue     1,158,004       814,247  
Ticket and gaming revenue     543,204       1,621,721  
Merchandising revenue     171,014       167,194  
Other revenue     244       858  
Total in-person revenue   $ 11,133,412     $ 8,181,355  
Multiplatform Content [Member]    
Schedule of revenue recognition
    For the Three Months Ended  
    March 31,  
    2020     2019  
Distribution revenue   $ 456,919       434,749  
Sponsorship revenue     384,284       367,504  
Music royalty revenue     373,739       299,369  
Online advertising revenue     1,955       -  
Total multiplatform content revenue   $ 1,216,897     $ 1,101,622  

    For the Years Ended  
    December 31,  
    2019     2018  
Distribution revenue   $ 1,694,429     $ 861,994  
Content revenue     50,000       -  
Sponsorship revenue     2,173,286       1,332,077  
Music royalty revenue     1,573,247       1,031,425  
Online advertising revenue     7,442       21,161  
Total multiplatform content revenue   $ 5,498,404     $ 3,246,657  
Interactive Product [Member]    
Schedule of revenue recognition

    For the Three Months Ended  
    March 31,  
    2020     2019  
Subscription revenue   $ 1,286,789     $ 1,227,623  
Virtual product revenue     924,315       923,495  
Social gaming revenue     261,924       104,784  
Licensing revenue     39,764       125,838  
Other revenue     10,442       4,045  
Total interactive revenue   $ 2,523,234     $ 2,385,785  

    For the Years Ended  
    December 31,  
    2019     2018  
Subscription revenue   $ 4,823,510     $ 4,964,086  
Virtual product revenue     3,699,180       3,093,973  
Social gaming revenue     555,643       674,497  
Licensing revenue     290,164       349,199  
Other revenue     71,682       93,488  
Total interactive revenue   $ 9,440,179     $ 9,175,243