Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Tables)

v3.22.2
Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2022
Significant Accounting Policies (Tables) [Line Items]  
Schedule of roll forward of the company’s level 3 instruments
Balance, January 1, 2022   $ 3,200  
Change in fair value of sponsor warrants     1,300  
Balance, March 31, 2022   $ 4,500  

 

Schedule of key inputs into the black-scholes model at the relevant measurement dates
    March 31,     December 31,  
Input   2022     2021  
Risk-free rate     2.44 %     0.97 %
Remaining term in years     2.36       2.61  
Expected volatility     51.0 %     46.0 %
Exercise price   $ 11.50     $ 11.50  
Fair value of common stock   $ 1.73     $ 1.81  

 

Schedule of basic and diluted net loss per common share
    For the Three Months Ended  
    March 31,  
    2022     2021  
Numerator:            
Net loss - continuing operations   $ (3,751,197 )   $ (4,973,718 )
Net income - discontinued operations   $ -     $ 1,637,042  
                 
Denominator:                
Weighted-average common shares outstanding     39,116,907       39,162,811  
Less: weighted-averages unvested restricted shares     (52,444 )     (199,143 )
Denominator for basic and diluted net loss per share   $ 39,064,463     $ 38,963,668  
                 
Basic and Diluted Net (Loss) Income per Common Share                
Continuing operations   $ (0.10 )   $ (0.13 )
Discontinued operations, net of tax   $ -     $ 0.04  

 

Schedule of weighted average dilutive common shares
    For the Three Months Ended  
    March 31,  
    2022     2021  
Restricted common shares     -       199,143  
Options     2,415,000       2,430,000  
Warrants     20,091,549       20,091,549  
Convertible debt     -       235,294  
Equity purchase options     600,000       600,000  
Contingent consideration shares (1)     192,308       269,231  
      23,298,857       23,825,217  

 

Schedule of multiplatform revenue
    For the Three Months Ended  
    March 31,  
    2022     2021  
NFT revenue   $ 208,758     $
-
 
Distribution revenue     230      
-
 
Total multiplatform revenue   $ 208,988     $
-
 

 

Schedule of changes in Ether holdings
Balance, December 31, 2021   $
-
 
Purchases     36,746  
Received from customers     177,946  
Impairment loss    
-
 
Foreign currency translation     4,093  
Balance, March 31, 2022   $ 218,785  

 

In-person [Member]  
Significant Accounting Policies (Tables) [Line Items]  
Schedule of revenue recognition
    For the Three Months Ended  
    March 31,  
    2022     2021  
Event revenue   $ 536,597     $ 110,441  
Sponsorship revenue     1,326,250       244,294  
Food and beverage revenue     201,318       70,704  
Ticket and gaming revenue     117,779       68,644  
Merchandising revenue     21,122       6,945  
Total in-person revenue   $ 2,203,066     $ 501,028  

 

Adjustment under 606 [Member]  
Significant Accounting Policies (Tables) [Line Items]  
Schedule of revenue recognition
    For the Three Months Ended  
    March 31,  
    2022     2021  
             
Revenues Recognized at a Point in Time:            
Event revenue   $ 536,597     $ 110,441  
NFT revenue     208,758      
-
 
Food and beverage revenue     201,318       70,704  
Ticket and gaming revenue     117,779       68,644  
Merchandising revenue     21,122       6,945  
Sponsorship revenue    
-
      2,502  
Distribution revenue     230      
-
 
Total Revenues Recognized at a Point in Time     1,085,804       259,236  
                 
Revenues Recognized Over a Period of Time:                
Sponsorship revenue     1,326,250       241,792  
Total Revenues Recognized Over a Period of Time     1,326,250       241,792  
Total Revenues   $ 2,412,054     $ 501,028