Annual report pursuant to Section 13 and 15(d)

Discontinued Operations (Details) - Schedule of discontinued operations

v3.21.1
Discontinued Operations (Details) - Schedule of discontinued operations - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Schedule of discontinued operations [Abstract]
Revenues $ 20,149,042 $ 18,523,632
Operating costs and expenses 19,425,951 19,709,567
Income (loss) from operations 723,091 (1,185,935)
Other income (expense) 2,417 (97,467)
Net income (loss) from discontinued operations, before tax 725,508 (1,283,402)
Income tax
Income (loss) from discontinued operations, net of tax provision 725,508 (1,283,402)
Cash 3,633,292 5,163,156
Accounts receivable 1,804,627 1,491,939
Prepaid expenses and other assets 289,968 283,143
Property and equipment, net 1,674,355 2,470,293
Goodwill 4,083,621 4,083,621
Intangible assets, net 12,305,887 14,755,867
Deposits 79,500 79,500
Deferred production costs 12,058,592 10,962,482
Due from affiliates 9,433,975 3,375,875
Current assets held for sale 45,363,817 6,938,238
Non-current assets held for sale 35,727,638
Total assets held for sale 42,665,876
Accounts payable 211,228 748,118
Accrued expenses and other liabilities 3,804,301 2,776,256
Accrued interest 4,224
Deferred revenue 1,970,668 3,762,221
Deferred rent 2,493,526 1,230,224
Non-current liabilities held for sale 1,230,224
Total liabilities held for sale 8,516,819
Loans payable [1] 685,300
Current liabilities held for sale $ 9,169,247 $ 7,286,595
[1] Represents principal balance of PPP Loan. On January 26, 2021, WPT received notice from its lender that the entirety of the $685,300 of outstanding principal of the PPP Loan was forgiven.