Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Loss

v3.21.1
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Revenues:
In-person $ 2,988,363 $ 7,498,363
Multiplatform content 222,442 50,000
Total Revenues 3,210,805 7,548,363
Costs and Expenses:
In-person (exclusive of depreciation and amortization) 2,808,648 4,832,897
Multiplatform content (exclusive of depreciation and amortization) 54,256 231,310
Online operating expenses 186,702 113,862
Selling and marketing expenses 259,892 1,563,682
General and administrative expenses 11,141,628 10,438,894
Stock-based compensation 5,141,989 247,720
Depreciation and amortization 3,609,480 3,548,810
Impairment of investments 6,138,631 600,000
Impairment of property and equipment 5,595,557
Impairment of deferred production costs and intangible assets 330,340
Total Costs and Expenses 34,936,783 21,907,515
Loss From Operations (31,725,978) (14,359,152)
Other Income (Expense):
Other income 176,015 167
Conversion inducement expense (5,247,531)
Extinguishment loss on acceleration of debt redemption (3,438,261)
Interest expense (5,548,583) (1,081,401)
Foreign currency exchange loss (14,941)
Total Other Expense (14,058,360) (1,096,175)
Loss from continuing operations (45,784,338) (15,455,327)
Income (loss) from discontinued operations, net of tax provision 725,508 (1,283,402)
Net loss $ (45,058,830) $ (16,738,729)
Basic and Diluted Net (Loss) Income per Common Share
Continuing operations (in Dollars per share) $ (1.60) $ (0.96)
Discontinued operations, net of tax (in Dollars per share) $ 0.03 $ (0.08)
Weighted Average Number of Common Shares Outstanding:
Basic and Diluted (in Shares) 28,687,361 16,159,444
Comprehensive Loss
Net Loss $ (45,058,830) $ (16,738,729)
Other comprehensive income:
Foreign currency translation adjustments 54,789 (2,684)
Total Comprehensive Loss $ (45,004,041) $ (16,741,413)