Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Tables)

v3.20.2
Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2020
Significant Accounting Policies (Tables) [Line Items]  
Schedule of antidiluted shares
    September 30,  
    2020     2019  
Restricted common shares     199,143       80,393  
Options     2,430,000       400,000  
Warrants     20,091,549       18,637,003  
Convertible debt     3,609,839 (1)     1,647,058  
Unit purchase options     600,000       600,000  
Contingent consideration shares     269,231      
-
 
      27,199,762       21,364,454  

 

(1) Common stock equivalents associated with convertible debt were calculated based on the fixed conversion price in effect for voluntary holder conversions; however for certain convertible notes there is a variable conversion price in effect under certain scenarios that is equal to 87% of lowest daily volume weighted average price over the prior ten days, subject to a $0.734 floor price. If the applicable convertible note principal and guaranteed interest were all converted at the floor price, the potentially dilutive shares related to convertible debt would be 15,406,956 shares. 

 

In-person [Member]  
Significant Accounting Policies (Tables) [Line Items]  
Schedule of revenue recognition
    For the Three Months Ended     For the Nine Months Ended  
    September 30,     September 30,  
    2020     2019     2020     2019  
Event revenue   $ 227,247     $ 1,582,749     $ 1,839,365     $ 5,752,880  
Sponsorship revenue     314,924       411,903       1,305,014       1,091,718  
Food and beverage revenue     34,427       290,408       266,726       976,313  
Ticket and gaming revenue     118,996       250,955       270,247       587,727  
Merchandising revenue     678       50,950       19,065       145,273  
Other revenue     618       -       722       119  
Total in-person revenue   $ 696,890     $ 2,586,965     $ 3,701,139     $ 8,554,030  

 

Multiplatform Content [Member]  
Significant Accounting Policies (Tables) [Line Items]  
Schedule of revenue recognition
    For the Three Months Ended     For the Nine Months Ended  
    September 30,     September 30,  
    2020     2019     2020     2019  
Distribution revenue   $ 611,370     $ 282,508     $ 1,471,263     $ 1,069,328  
Sponsorship revenue     370,597       544,541       1,154,267       1,585,467  
Music royalty revenue     278,610       200,787       553,198       1,214,286  
Online advertising revenue     3,769       3,547       7,766       4,628  
Total multiplatform revenue   $ 1,264,346     $ 1,031,383     $ 3,186,494     $ 3,873,709  

 

Interactive Product [Member]  
Significant Accounting Policies (Tables) [Line Items]  
Schedule of revenue recognition
    For the Three Months Ended     For the Nine Months Ended  
    September 30,     September 30,  
    2020     2019     2020     2019  
Subscription revenue   $ 2,511,958     $ 1,313,218     $ 5,599,687     $ 3,745,623  
Virtual product revenue     975,411       925,411       2,880,478       2,773,769  
Social gaming revenue     411,297       152,317       1,043,268       397,065  
Licensing revenue     11,188       16,872       68,461       198,481  
Other revenue     17,212       15,376       36,115       72,259  
Total interactive revenue   $ 3,927,066     $ 2,423,193     $ 9,628,009     $ 7,187,196  

 

Adjustment under 606 [Member]  
Significant Accounting Policies (Tables) [Line Items]  
Schedule of revenue recognition
    For the Three Months Ended     For the Nine Months Ended  
    September 30,     September 30,  
    2020     2019     2020     2019  
                         
Revenues Recognized at a Point in Time:                                
Event revenue   $ 227,247     $ 1,582,749     $ 1,839,365     $ 5,752,880  
Distribution revenue     611,370       282,508       1,471,263       1,069,328  
Social gaming revenue     411,297       152,317       1,043,268       397,065  
Food and beverage revenue     34,427       290,408       266,726       976,313  
Sponsorship revenue     23,890       123,407       69,350       408,873  
Ticket and gaming revenue     118,996       250,955       270,247       587,727  
Merchandising revenue     678       50,950       19,065       145,273  
Music royalty revenue     278,610       200,787       553,198       1,214,286  
Online advertising revenue     3,769       3,547       7,766       4,628  
Other revenue     17,830       15,376       36,837       72,378  
Total Revenues Recognized at a Point in Time     1,728,114       2,953,004       5,577,085       10,628,751  
                                 
Revenues Recognized Over a Period of Time:                                
Subscription revenue     2,511,958       1,313,218       5,599,687       3,745,623  
Virtual product revenue     975,411       925,411       2,880,478       2,773,769  
Sponsorship revenue     661,631       833,037       2,389,931       2,268,312  
Licensing revenue     11,188       16,872       68,461       198,481  
Total Revenues Recognized Over a Period of Time     4,160,188       3,088,537       10,938,557       8,986,184  
Total Revenues   $ 5,888,302     $ 6,041,541     $ 16,515,642     $ 19,614,935