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