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