0001493152-22-008641 | 10-K | XBRL Viewer

College Spun Media Incorporated [Member]

Long-term Debt

19. Long-term Debt

Senior Secured Note

Below is a summary of the various amended and restated note, as well as various amendments thereto, to the senior secured note with BRF Finance Co., LLC (“BRF Finance”), an affiliated entity of B. Riley, in its capacity as agent for the purchasers and as purchaser, that was originally issued on June 10, 2019, for gross proceeds of $20,000,000. The transactions leading up to the second amended and restated note that is outstanding as of December 31, 2021 consisted of:

	●	Amended and restated note issued on June 14, 2019, where the Company received gross proceeds of $48,000,000, together with the $20,000,000 gross proceeds received on June 10, 2019 for total gross proceeds of $68,000,000, due June 14, 2022;

	●	First amendment to the amended and restated note issued on August 27, 2019, where the Company received gross proceeds of $3,000,000;

	●	Second amendment to the amended and restated note issued on February 27, 2020, where the Company issued a $3,000,000 letter of credit to the Company’s landlord for leased premises;

	●	Second amended and restated note issued on March 24, 2020, where the Company was permitted to enter into a Delayed Draw Term Note (as described below), in the aggregate principal amount of $12,000,000;

	●	First amendment to second amended and restated note issued on March 24, 2020 was entered into on October 23, 2020 (“Amendment 1”), where the maturity date was changed to December 31, 2022, subject to certain acceleration conditions and interest payable on the note on September 30, 2020, December 31, 2020, March 31, 2021, June 30, 2021, September 30, 2021, and December 31, 2021 will be payable in-kind in arrears on the last day of such fiscal quarter. Alternatively, at the option of the holder, such interest amounts originally could have been paid in shares of Series K convertible preferred stock (the “Series K Preferred Stock”); however, after December 18, 2020, the date the Series K Preferred Stock converted into shares of the Company’s common stock, such interest amounts can be converted into shares of the Company’s common stock based upon the conversion rate specified in the Certificate of Designation for the Series K Preferred Stock, subject to certain adjustments (further details are described in Note 20);

	●	Second amendment to the second amended and restated note issued March 24, 2020 was entered into on May 19, 2021 (“Amendment 2”), pursuant to which: (i) the interest rate on the Senior Secured Note, as defined below, decreased from a rate of 12% per annum to a rate of 10% per annum; and (ii) the Company agreed that within one (1) business day after receipt of cash proceeds from any issuance of equity interests, it will prepay the certain obligations in an amount equal to such cash proceeds, net of underwriting discounts and commissions; provided, that, this mandatory prepayment obligation does not apply to any proceeds that the Company received from shares of the Company’s common stock issued pursuant to the securities purchase agreement (as further described below under the heading Common Stock Private Placement in Note 21) during the 90-day period commencing on May 20, 2021; and

	●	Third amendment to the second amended and restated note issued March 24, 2020 was entered into on December 6, 2021 (“Amendment 3”), where the Company was permitted to increase the FastPay line of credit in an aggregate principal amount not to exceed $25,000,000.

Collectively, the amended and restated note and amendments thereto and the second amended and restated note and Amendment 1, Amendment 2 and Amendment 3 thereto are referred to as the “Senior Secured Note,” with all borrowings collateralized by substantially all assets of the Company.

Further details as of the date these consolidated financial statements were issued are provided under the heading Long-term Debt in Note 28.

Delayed Draw Term Note

On March 24, 2020, the Company entered into a 15% delayed draw term note (the “Delayed Draw Term Note”) pursuant to the second amended and restated note purchase agreement, in the aggregate principal amount of $12,000,000.

On March 24, 2020, the Company drew down $6,913,865 under the Delayed Draw Term Note, and after payment of commitment and funding fees paid of $793,109, and other of its legal fees and expenses that were incurred, the Company received net proceeds of $6,000,000. The net proceeds were used for working capital and general corporate purposes. Additional borrowings under the Delayed Draw Term Note requested by the Company may be made at the option of the purchasers, subject to certain conditions. Up to $8,000,000 in principal amount under the note was originally due on March 31, 2021. Interest on amounts outstanding under the note was payable in-kind in arrears on the last day of each fiscal quarter. The transactions leading up to the Delayed Draw Term Note that is outstanding as of December 31, 2021 consisted of:

	●	Pursuant to the terms of Amendment 1, entered into on October 23, 2020, the maturity date of the Delayed Draw Term Note was changed from March 31, 2021 to March 31, 2022. Amendment 1 also provided that the holder, could originally elect, in lieu of receipt of cash for payment of all or any portion of the interest due or cash payments up to a certain conversion portion of the Delayed Draw Term Note, to receive shares of Series K Preferred Stock; however, after December 18, 2020, the date the Series K Preferred Stock converted into shares of the Company’s common stock, the holder may elect, in lieu of receipt of cash for such amounts, shares of the Company’s common stock at the price the Company last sold shares of the Company’s common stock;

	●	On October 23, 2020, $3,367,000, including principal and accrued interest of the Delayed Draw Term Note, converted into shares of the Company’s Series K Preferred Stock (see Note 20);

	●	On May 19, 2021, pursuant to Amendment 2, the interest rate on the Delayed Draw Term Note decreased from a rate of 15% per annum to a rate of 10% per annum; and

	●	On December 28, 2021, the Company drew down $5,086,135 under the Delayed Draw Term Note, and after payment of commitment and funding fees paid of $508,614, the Company received net proceeds of $4,577,522. The net proceeds were used for working capital and general corporate purposes.

Further details as of the date these consolidated financial statements were issued are provided under the heading Long-term Debt in Note 28.

The following table represents the components of the Senior Secured Note and Delayed Draw Term Note:

	As of and for the Years Ended December 31,
	2021									2020
	Senior Secured Note Components			Delayed Draw Term Note Components			Total			Senior Secured Note Components			Delayed Draw Term Note Components			Total
Principal amount of debt:
Principal amount of debt received on June 10, 2019	$	20,000,000		$	-		$	20,000,000		$	20,000,000		$	-		$	20,000,000
Principal amount of debt received on June 14, 2019		48,000,000			-			48,000,000			48,000,000			-			48,000,000
Principal amount of debt received on August 27, 2019		3,000,000			-			3,000,000			3,000,000			-			3,000,000
Principal amount of debt received on March 26, 2020		-			6,913,865			6,913,865			-			6,913,865			6,913,865
Principal amount of debt received on December 28, 2021		-			5,086,135			5,086,135			-			-			-
Subtotal principal amount of debt		71,000,000			12,000,000			83,000,000			71,000,000			6,913,865			77,913,865
Add accrued interest		13,852,050			1,223,506			15,075,556			7,457,388			675,958			8,133,346
Less principal payment paid in Series J Preferred Stock (net of interest of $146,067)		(4,853,933	)		-			(4,853,933	)		(4,853,933	)		-			(4,853,933	)
Less principal payment paid in Series K Preferred Stock (net of interest of $71,495)		-			(3,295,505	)		(3,295,505	)		-			(3,295,505	)		(3,295,505	)
Less principal payments paid in cash		(17,307,364	)		-			(17,307,364	)		(17,307,364	)		-			(17,307,364	)
Principal amount of debt outstanding including accrued interest		62,690,753			9,928,001			72,618,754			56,296,091			4,294,318			60,590,409
Debt discount:
Placement fee to B. Riley FBR		(3,550,000	)		(691,387	)		(4,241,387	)		(3,550,000	)		(691,387	)		(4,241,387	)
Commitment fee (2% of unused commitment)		-			(101,723	)		(101,723	)		-			(101,723	)		(101,723	)
Success based fee to B. Riley FBR		(3,400,000	)		-			(3,400,000	)		(3,400,000	)		-			(3,400,000	)
Legal and other costs		(202,382	)		(120,755	)		(323,137	)		(202,382	)		(120,755	)		(323,137	)
Commitment fee due December 28, 2021		-			(508,614	)		(508,614	)		-			-			-
Subtotal debt discount		(7,152,382	)		(1,422,479	)		(8,574,861	)		(7,152,382	)		(913,865	)		(8,066,247	)
Less amortization of debt discount		5,217,914			855,007			6,072,921			3,412,692			554,693			3,967,385
Unamortized debt discount		(1,934,468	)		(567,472	)		(2,501,940	)		(3,739,690	)		(359,172	)		(4,098,862	)
Carrying value at year-end	$	60,756,285		$	9,360,529		$	70,116,814		$	52,556,401		$	3,935,146		$	56,491,547

Paycheck Protection Program Loan

On April 6, 2020, the Company entered into a note agreement with JPMorgan Chase Bank, N.A. (“JPMorgan Chase”) under the recently enacted Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) administered by the U.S. Small Business Administration (“SBA”) (the “Paycheck Protection Program Loan”). The Company received total proceeds of $5,702,725 under the Paycheck Protection Program Loan. In accordance with the requirements of the CARES Act, the Company used proceeds from the Paycheck Protection Program Loan primarily for payroll costs. The Paycheck Protection Program Loan was scheduled to mature on April 6, 2022, with a 0.98% interest rate and was subject to the terms and conditions applicable to loans administered by the SBA under the CARES Act.

On June 22, 2021, the SBA authorized full forgiveness of $5,702,725 under the Paycheck Protection Program Loan; thus, the Company will not need to make any payments on the Paycheck Protection Program Loan that JPMorgan Chase facilitates as an SBA lender. JPMorgan Chase will apply the forgiveness amount the SBA authorized, plus all accrued interest, to the Company’s Paycheck Protection Program Loan. The requirements under this program are established by the SBA. All requests for Paycheck Protection Program Loan forgiveness are subject to SBA eligibility. The Company recorded a gain upon debt extinguishment for the year ended December 31, 2021 of $5,716,697 (including accrued interest) pursuant to the forgiveness in other (expense) income on the consolidated statements of operations.

The following table summarizes long-term debt:

Schedule of Long Term Debt

	As of December 31,
	2021								2020
	Principal Balance (including accrued interest)		Unamortized Discount and Debt Issuance Costs			Carrying Value			Principal Balance (including accrued interest)		Unamortized Discount and Debt Issuance Costs			Carrying Value
Senior Secured Note, as amended, matures December 31, 2023	$	62,690,753	$	(1,934,468	)	$	60,756,285		$	56,296,091	$	(3,739,690	)	$	52,556,401
Delayed Draw Term Note, as amended, matures December 31, 2023		9,928,001		(567,472	)		9,360,529			4,294,318		(359,172	)		3,935,146
Paycheck Protection Program Loan, scheduled to mature April 6, 2022, fully forgiven June 22, 2021		-		-			-			5,702,725		-			5,702,725
Total	$	72,618,754	$	(2,501,940	)		70,116,814		$	66,293,134	$	(4,098,862	)		62,194,272
Less current portion							(5,744,303	)							-
Long-term portion						$	64,372,511							$	62,194,272

As of December 31, 2021, the Company’s Delayed Draw Term Note, as amended, carrying value of $9,360,529 was as follows: (1) $5,744,303 (including accrued interest and less unamortized discount and debt issuance costs of $180,365); and (2) $3,616,226 (including accrued interest and less unamortized discount and debt issuance costs of $387,107).

The following table summarizes principal maturities of long-term debt:

Years Ending December 31,
2022	$	5,924,668
2023		66,694,086
Total	$	72,618,754

Information for the years ended December 31, 2021 and 2020 with respect to interest expense related to long-term debt is provided below under the heading Interest Expense.

Interest Expense

The following table represents interest expense:

Summary of Interest Expense

	Years Ended December 31,
	2021		2020
Amortization of debt discounts:
12% Convertible Debentures	$	-	$	3,880,609
Senior Secured Note		1,805,222		2,171,910
Delayed Draw Term Note		300,314		554,693
Total amortization of debt discount		2,105,536		6,607,212
Accrued and noncash converted interest:
12% Convertible Debentures		-		2,116,281
Senior Secured Note		6,394,662		6,374,746
Delayed Draw Term Note		547,548		747,453
Payroll Protection Program Loan		13,972		-
Promissory Note		-		5,844
Total accrued and noncash converted interest		6,956,182		9,244,324
Cash paid interest:
Other		1,392,900		645,681
Total interest expense	$	10,454,618	$	16,497,217

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2021

Business Acquisition [Line Items]

Schedule of Preliminary Purchase Price

The composition of the purchase price is as follows:

Schedule of Preliminary Purchase Price

Cash	$	10,829,893
Deferred cash payments, as discounted		905,109
Total purchase consideration	$	11,735,002

Summary of Price Allocation for Acquisition

Cash	$	3,214,436
Accounts receivable		1,772,025
Other current assets		4,567
Brand name		5,175,136
Goodwill		3,479,290
Accrued expenses		(84,732	)
Deferred tax liabilities		(1,825,720	)
Net assets acquired	$	11,735,002

Fulltime Fantasy Sports LLC [Member]

Business Acquisition [Line Items]

Schedule of Preliminary Purchase Price

The composition of the purchase price is as follows:

Schedule of Preliminary Purchase Price

	$	335,000
Cash (including $35,000 of transaction related costs)	$	335,000
Restricted stock		167,500
Deferred cash payments		419,387
Deferred restricted stock		335,000
Total purchase consideration	$	1,256,887

Petametrics Inc [Member]

Business Acquisition [Line Items]

Summary of Price Allocation for Acquisition

Accounts receivable	$	37,908
Developed technology		917,762
Accounts payable		(53,494	)
Unearned revenue		(86,887	)
Net assets acquired	$	815,289

Schedule of Preliminary Purchase Price

The composition of the purchase price is as follows:

Schedule of Preliminary Purchase Price

Cash	$	315,289
Indemnity restricted stock units for shares of common stock		500,000
Total purchase consideration	$	815,289

Schedule of Prepayments and Other Current Assets (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Prepayments And Other Current Assets
Prepaid expenses	$ 3,467,075	$ 3,400,080
Prepaid software license	128,525	378,488
Refundable income and franchise taxes	744,642	733,553
Security deposits		92,494
Other receivables	407,605	62,648
Prepayments and other current assets	$ 4,747,847	$ 4,667,263

Acquisitions (Details Narrative) - USD ($)								12 Months Ended
Acquisitions (Details Narrative) - USD ($)	Jul. 30, 2022	Jul. 15, 2021	Jun. 04, 2021	Mar. 09, 2020	Mar. 07, 2020	Feb. 19, 2020	Dec. 12, 2018	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Developed technology useful life		3 years
Payments to Acquire Businesses, Gross		$ 335,000						$ 7,950,457	$ 315,289
Asset Acquisition, Consideration Transferred, Transaction Cost		$ 35,000
Stock Issued During Period, Shares, Purchase of Assets		11,364						11,364
Asset Acquisition, Consideration Transferred, Contingent Consideration								$ 225,000
Transaction costs related to acquisition		$ 35,000
Stock Issued During Period, Shares, New Issues							129,880		230,326
Developed Technology Rights [Member]
Business Acquisition [Line Items]
Developed technology useful life					3 years
Asset Purchase Agreement [Member]
Business Acquisition [Line Items]
Payments to Acquire Productive Assets						$ 184,087
Stock Issued During Period, Shares, New Issues								11,667
Shares, Issued								2,539
Maximum [Member]
Business Acquisition [Line Items]
Stock Issued During Period, Shares, Purchase of Assets		34,092
College Spun Media Incorporated [Member]
Business Acquisition [Line Items]
Developed technology useful life			10 years
Total cash consideration			$ 11,735,002
Fulltime Fantasy Sports LLC [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross		$ 335,000
Transaction costs related to acquisition		35,000
Total cash consideration		$ 1,256,887
30/06/2022 [Member] \| Subsequent Event [Member]
Business Acquisition [Line Items]
Stock Issued During Period, Shares, Purchase of Assets	11,364
Asset Acquisition, Consideration Transferred, Contingent Consideration	$ 225,000
Closing [Member] \| Asset Purchase Agreement [Member]
Business Acquisition [Line Items]
Payments to Acquire Productive Assets				$ 131,202
First Anniversary Date [Member] \| Asset Purchase Agreement [Member]
Business Acquisition [Line Items]
Stock Issued During Period, Shares, Purchase of Assets								14,205
Second Anniversary Date [Member] \| Asset Purchase Agreement [Member]
Business Acquisition [Line Items]
Stock Issued During Period, Shares, Purchase of Assets				14,205
College Spun Media Incorporated [Member]
Business Acquisition [Line Items]
Cash Acquired from Acquisition			$ 11,829,893
Stock Issued During Period, Shares, Restricted Stock Award, Gross			194,806
Restructuring and related cost, incurred cost			$ 128,076
College Spun Media Incorporated [Member] \| Closing [Member]
Business Acquisition [Line Items]
Payments to Acquire Productive Assets			10,829,893
College Spun Media Incorporated [Member] \| Closing [Member] \| Working Capital Adjustment [Member]
Business Acquisition [Line Items]
Payments to Acquire Productive Assets			829,893
College Spun Media Incorporated [Member] \| First Anniversary Date [Member]
Business Acquisition [Line Items]
Stock Issued During Period, Value, Purchase of Assets			500,000
College Spun Media Incorporated [Member] \| Second Anniversary Date [Member]
Business Acquisition [Line Items]
Stock Issued During Period, Value, Purchase of Assets			$ 500,000

Organization and Basis of Presentation

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Basis of Presentation

1. Organization and Basis of Presentation

Organization

The Arena Holdings Group, Inc. (formerly known as TheMaven, Inc.) (“The Arena Group” or the “Company”), was incorporated in Delaware on October 1, 1990. On October 11, 2016, the predecessor entity now known as The Arena Group exchanged its shares with another entity that was incorporated in Delaware on July 22, 2016. On November 4, 2016, these entities consummated a recapitalization. This resulted in The Arena Group becoming the parent entity, and the other Delaware entity becoming the wholly owned subsidiary. On December 19, 2019, the Company’s wholly owned subsidiaries The Arena Platform, Inc. (formerly known as Maven Coalition, Inc.), and HubPages, Inc. (“HubPages”), a Delaware corporation that was acquired by the Company in a merger during 2018, were merged into another of the Company’s wholly owned subsidiaries, Say Media, Inc. (“Say Media”), a Delaware corporation that was acquired by the Company in a merger during 2018, with Say Media as the surviving corporation. On January 6, 2020, Say Media changed its name to The Arena Platform, Inc. (“Arena Platform”). As of December 31, 2021, the Company’s wholly owned subsidiaries consist of The Arena Platform, The Arena Media Brands, LLC (“Arena Media”) (formerly known as Maven Media Brands, LLC) formed during 2019 as a wholly owned subsidiary of The Arena Group), TheStreet, Inc. (“TheStreet” acquired by the Company in a merger during 2019) and College Spun Media Incorporated (“The Spun” acquired by the Company in a merger during 2021 as further described in Note 3).

The Company changed its corporate name to The Arena Group Holdings, Inc. from TheMaven, Inc. to on February 8, 2022. The Company’s subsidiaries changed their corporate names to The Arena Platform, Inc. from Maven Coalition, Inc. and to The Arena Media Brands, LLC from Maven Media Brands, LLC on February 18, 2022.

Unless the context indicates otherwise, The Arena Group, The Arena Platform, TheStreet and The Spun, are together hereinafter referred to as the “Company.”

Reverse Stock Split

On November 18, 2020, the Company’s stockholders holding more than a majority of the voting power of the Company approved the amendment to the Company’s Amended and Restated Certificate of Incorporation on November 24, 2020, to effect a reverse split of the common stock at a ratio to be determined by the board of directors (the “Board”) within certain parameters, and without reducing the authorized number of shares of common stock.

On February 8, 2022, the Company’s Board approved a one-for-twenty-two (1-for-22) reverse stock split of its outstanding shares of common stock that was effective at 8:00 p.m. Eastern Time on February 8, 2022 and began trading on the NYSE American (the “NYSE American”) on February 9, 2022 (as further described below). At the effective time, every twenty-two shares of issued and outstanding common stock were automatically combined into one issued and outstanding share of common stock, without any change in the number of authorized shares. No fractional shares were issued as a result of the reverse stock split. Any fractional shares that would otherwise have resulted from the reverse stock split were rounded up to the next whole number.

The accompanying financial statements and notes to the financial statements give effect to the reverse stock split for all periods presented. The shares of common stock retained a par value of $0.01 per share. Accordingly, stockholders’ deficiency reflects the reverse stock split by reclassifying from “common stock” to “additional paid-in capital” in an amount equal to the par value of the decreased shares resulting from the reverse stock split. In addition, any fractional shares that would otherwise be issued as a result of the reverse stock split were rounded up to the nearest whole share. In connection with the reverse stock split, proportionate adjustments were made to increase the per share exercise prices and decrease the number of shares of common stock issuable upon exercise of common stock options and warrants whereby approximately the same aggregate price is required to be paid for such securities upon exercise as had been payable immediately preceding the reverse stock split. In addition, any fractional shares that would otherwise be issued as a result of the reverse stock split were rounded up to the nearest whole share.

On February 9, 2022, in connection with the Company’s name change and reverse stock split, the Company up-listed its common stock to the NYSE American, which began trading on February 9, 2022 under the symbol “AREN.” A notice of corporate action was filed with the Financial Industry Regulatory Authority (“FINRA”), requesting approval to change the Company’s corporate name and trading symbol, and to effect the reverse stock split. The Company’s common stock, prior to the up-list, was quoted on the OTC Markets Group Inc.’s (“OTCM”) OTCQX^® Best Market (the “OTCQX”) under the symbol “MVEN.”

Business Operations

The Company is a data-driven media company that focuses on building deep content verticals powered by a best-in-class digital media platform (the “Platform”), empowering premium publishers who impact, inform, educate and entertain. The Company’s strategy is to focus on key verticals where audiences are passionate about a topic category (e.g., sports, finance) and where it can leverage the strength of its core brands to grow our audience and monetization both within its core brands as well as its media publishers (each, a “Publisher Partner”). The Company’s focus is on leveraging the Platform and iconic brands in targeted verticals to maximize the audience, improve engagement and optimize monetization of digital publishing assets for the benefit of our users, our advertiser clients, and our 35 owned and operated properties as well as properties we run on behalf of independent Publisher Partners. The Company operates the media businesses for Sports Illustrated (as defined below), own and operate TheStreet and The Spun (collectively, Sports Illustrated, TheStreet and The Spun are hereinafter referred to as the Company’s “Owned and Operated Businesses”), and power more than 200 independent Publisher Partners, including Biography, History, and the many team sports sites that comprise FanNation, among others. Each Publisher Partner joins the Platform by invitation-only and is drawn from premium media brands and independent publishing businesses with the objective of augmenting the Company’s position in key verticals and optimizing the performance of the Publisher Partner. Publisher Partners incur the costs in content creation on their respective channels and receive a share of the revenue associated with their content. Because of the state-of-the-art technology and large scale of the Platform and the Company’s expertise in search engine optimization (SEO), social media, subscription marketing and ad monetization, Publisher Partners continually benefit from its ongoing technological advances and bespoke audience development expertise. Additionally, the Company believes the lead brand within each vertical creates a halo benefit for all Publisher Partners in the vertical on both the content and technology sides. While they benefit from these critical performance improvements, they also may save substantially in technology, infrastructure, advertising sales, member marketing, and management costs. In addition, they benefit from recirculation across the Company’s Platform, as well as syndication to more than 25 third-party sites.

The Company’s growth strategy is to continue to expand the coalition by adding new Publisher Partners in key verticals that management believes will expand the scale of unique users interacting on the Platform. In each vertical, the Company seeks to build around a leading brand, such as Sports Illustrated (for sports) and TheStreet (for finance), surround it with subcategory specialists, and further enhance coverage with individual expert contributors. The primary means of expansion is adding independent Publisher Partners and/or acquiring publishers that have premium branded content and can broaden the reach and impact of the Platform. As the Company’s digital revenue and gross margin grows, the Company believes it can further accelerate its growth.

The Company assumed management of certain Sports Illustrated media assets (pursuant to a licensing agreement with Sports Illustrated, including various amendments, or a collectively referred to herein as the “Sports Illustrated Licensing Agreement”) on October 4, 2019. Sports Illustrated is owned by ABG-SI LLC (“ABG”), a brand development, marketing, and entertainment company. Since assuming management of the Sports Illustrated media assets, the Company has implemented significant changes to rebuild the historic brand and beacon of sports journalism, to evolve and expand the business, and to position it for growth and continued success going forward.

SI Sportsbook was launched in 2021 in Colorado. The Company provides the content for SI Sportsbook and its partner, 888, one of the world’s leading online betting and gaming companies, provides the gambling engine. SI Sportsbook covers the NFL, CFB, NCAAMB, MLB, NBA, NHA, PGA, Horse Racing, UCF, Boxing. The content the Company provides includes: (i) Sports Illustrated winners club newsletter, live NFL pre-game show and twitter spaces, (ii) 50,000 NFL and CFB game betting previews and player props, (iii) five new betting articles series, and (iv) four new video on-demand betting series.

TheStreet is a leading financial news and information provider to investors and institutions worldwide and has produced business news and market analysis for individual investors. TheStreet brings its editorial tradition, strong subscription platform, and valuable membership base to the Company, and benefits from its mobile-friendly CMS, social, video, and monetization technology.

The Spun (thespun.com), founded in September 2012, is an online independent sports publication that brings readers the most interesting athletic stories of the day. Currently, The Spun produces more than 30,000 annual content pieces. The Spun reaches approximately 35 million unique readers per month and focuses on the social media aspect of the industry.

Seasonality

The Company experiences typical media company advertising and membership sales seasonality, which is strong in the fiscal fourth quarter and slower in the fiscal first quarter.

Going Concern

The Company performed an annual reporting period going concern assessment. Management is required to assess the Company’s ability to continue as a going concern. These consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. The Company’s consolidated financial statements do not include any adjustments that might be necessary if it is unable to continue as a going concern.

Historically, the Company has recorded recurring losses from operations and has operated with a net capital deficiency. The Company considered these factors to determine if the significance of those conditions or events would limit its ability to meet its obligations when due. Most recently, operating losses realized in prior years had been impacted by the COVID-19 pandemic and the related shut down of most professional and collegiate sports, which reduced user traffic and advertising revenue. As the Company entered fiscal 2021, and the impact of COVID-19 on its operations began to dissipate, the Company invested heavily in marketing, customer growth, and people and technology as it expanded its operations, specifically related to TheStreet and the Sports Illustrated media business.

As reflected in these consolidated financial statements, the Company recorded revenues of approximately $189.1 million and incurred a net loss attributable to common stockholders of approximately $89.9 million for the year ended December 31, 2021. The Company has historically financed its working capital requirements since inception through the issuance of debt and equity securities.

Management has evaluated whether relevant conditions or events, considered in the aggregate, raise substantial doubt about the Company’s ability to continue as a going concern. The factors considered include, but are not limited to, the Company’s financial condition, liquidity sources, obligations due within one year after the issuance date of its accompanying consolidated financial statements, and the funds necessary to maintain operations, including negative financial trends or other indicators of possible financial difficulty. Substantial doubt exists when conditions and events, considered in the aggregate, indicate it is probable that a company will not be able to meet its obligations as they become due within one year after the issuance date of its financial statements.

Management’s assessment is based on the relevant conditions that are known or reasonably knowable as of the date these consolidated financial statements for the year ended December 31, 2021 were issued. In particular, the Company evaluated: (1) 2022 cash flow forecast, which considered the use of its working capital line with FastPay (as described in Note 14) to fund changes in working capital, under which it has available credit of approximately $17.7 million, subject to eligible account receivables, as of the issuance date of these consolidated financial statements for the year ended December 31, 2021, as well as the additional capital the Company raised in a firm commitment underwritten public offering of $31.5 million after fees and expenses, which was completed subsequent to December 31, 2021; and (2) its 2022 operating budget, which considers that (i) more than half of the Company’s total revenue is derived from recurring digital and print subscriptions, which are generally paid in advance, and (ii) overall digital revenue, representing 53.4% of the Company’s total revenue, grew approximately 49.1% in fiscal 2021, which the Company believes demonstrates the strength of its brands.

In addition, the Company’s firm commitment underwritten public offering, as described above, demonstrates its ability to access capital markets. Finally, the Company also considered its implementation of additional measures, if required, related to potential revenue and earnings declines from continued COVID-19-related challenges.

Management’s assessment of the Company’s ability to meet its future obligations is inherently judgmental, subjective and susceptible to change. As a result of these considerations and as a part of the quantitative and qualitative factors that are known or reasonably knowable as of the date these consolidated financial statements for the year ended December 31, 2021 were issued, the Company concluded that conditions and events considered in the aggregate, do not raise substantial doubt about its ability to continue as a going concern for a one-year period following the financial statement issuance date.

Reclassifications

Certain prior year amounts have been reclassified to conform to current period presentation. These reclassifications were immaterial, both individually and in the aggregate. These changes did not impact previously reported loss from operations or net loss.

Convertible Debt (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of 12% Convertible Debentures

The following table represents the various components of the 12% Convertible Debentures as of and for the year ended December 31, 2020:

Schedule of 12% Convertible Debentures

	Issuance Date												Total 12%
	December 12, 2018			March 18, 2019			March 27, 2019			April 8, 2019			Convertible Debentures
Principal amount of debt:	$	9,540,000		$	1,696,000		$	318,000		$	100,000		$	11,654,000
Less: issuance costs		(590,000	)		(96,000	)		(18,000	)		-			(704,000	)
Net cash proceeds received	$	8,950,000		$	1,600,000		$	300,000		$	100,000		$	10,950,000
Principal amount of debt (excluding original issue discount)	$	9,540,000		$	1,696,000		$	318,000		$	100,000		$	11,654,000
Add: conversion of debt from convertible debentures		3,551,528			-			-			-			3,551,528
Add: accrued interest		3,540,899			393,989			72,738			22,698			4,030,324
Principal amount of debt including accrued interest		16,632,427			2,089,989			390,738			122,698			19,235,852
Less: conversion in connection with issuance of common stock		(15,870,143	)		(2,089,989	)		(22,119	)		(122,698	)		(18,104,949	)
Less: repayments in cash		(762,284	)		-			(368,619	)		-			(1,130,903	)
Principal amount of debt		-			-			-			-			-
Debt discount:
Allocated embedded derivative liabilities at issuance		(4,760,000	)		(822,000	)		(188,000	)		(64,000	)		(5,834,000	)
Liquidated Damages recognized upon issuance		(706,944	)		(67,200	)		(12,600	)		(4,200	)		(790,944	)
Issuance cost incurred at issuance		(590,000	)		(106,000	)		(18,000	)		-			(714,000	)
Total debt discount		(6,056,944	)		(995,200	)		(218,600	)		(68,200	)		(7,338,944	)
Less: amortization of debt discount		6,056,944			995,200			218,600			68,200			7,338,944
Debt discount		-			-			-			-			-
12% Convertible Debentures balance at December 31, 2020	$	-		$	-		$	-		$	-		$	-

Goodwill (Details Narrative) - USD ($)	12 Months Ended
Goodwill (Details Narrative) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of goodwill	$ 0	$ 0

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of Disaggregation of Revenue

The following table provides information about disaggregated revenue by category, geographical market and timing of revenue recognition:

Schedule of Disaggregation of Revenue

	2021		2020
	Years Ended December 31,
	2021		2020
Revenue by category:
Digital revenue
Digital advertising	$	62,864,924	$	34,648,945
Digital subscriptions		29,628,355		28,495,676
Other revenue		8,515,655		4,596,686
Total digital revenue		101,008,934		67,741,307
Print revenue
Print advertising		9,050,671		9,710,877
Print subscriptions		79,080,729		50,580,213
Total print revenue		88,131,400		60,291,090
Total	$	189,140,334	$	128,032,397
Revenue by geographical market:
United States	$	182,706,557	$	122,570,712
Other		6,433,777		5,461,685
Total	$	189,140,334	$	128,032,397
Revenue by timing of recognition:
At point in time	$	159,511,979	$	99,536,721
Over time		29,628,355		28,495,676
Total	$	189,140,334	$	128,032,397

Schedule of Contract with Customer, Asset and Liability

The following table provides information about contract balances:

	2021		2020
	As of December 31,
	2021		2020
Unearned revenue (short-term contract liabilities):
Digital revenue	$	14,692,479	$	15,039,331
Print revenue		39,337,178		46,586,345
	$	54,029,657	$	61,625,676
Unearned revenue (long-term contract liabilities):
Digital revenue	$	1,444,440	$	785,636
Print revenue		13,831,452		22,712,961
	$	15,275,892	$	23,498,597

Schedule of Cash and Restricted Cash

The following table reconciles total cash, cash equivalents, and restricted cash:

Schedule of Cash and Restricted Cash

	2021		2020
	As of December 31,
	2021		2020
Cash and cash equivalents	$	9,349,020	$	9,033,872
Restricted cash		501,780		500,809
Total cash, cash equivalents, and restricted cash	$	9,850,800	$	9,534,681

Schedule of Depreciation and Amortization, Useful Lives of Assets

Property and equipment is stated at cost less accumulated depreciation and amortization. Major improvements are capitalized, while maintenance and repairs are charged to expense as incurred. Gains and losses from disposition of property and equipment are included in the statement of operations when realized. Depreciation and amortization are provided using the straight-line method over the following estimated useful lives:

Office equipment and computers		1 – 3 years
Furniture and fixtures		1 – 5 years
Leasehold improvements		Shorter of remaining lease term or estimated useful life

Schedule of Net Income (Loss) Per Common Share

The Company excluded the outstanding securities summarized below (capitalized terms are described herein), which entitle the holders thereof to acquire shares of the Company’s common stock, from its calculation of net income loss per common share, as their effect would have been anti-dilutive.

	As of December 31,
	2021		2020
Series G Preferred Stock		8,582		8,582
Series H Preferred Stock		2,075,200		2,699,312
Restricted Stock Awards		194,806		14,394
Financing Warrants		116,118		131,003
ABG Warrants		999,540		999,540
AllHipHop Warrants		5,681		5,681
Publisher Partner Warrants		35,607		35,888
Common Stock Awards		293,341		313,742
Common Equity Awards		6,907,454		3,730,106
Outside Options		138,637		138,728
Total		10,774,966		8,076,976

Fair Value Measurements (Details Narrative) - USD ($)	12 Months Ended
Fair Value Measurements (Details Narrative) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash and cash equivalents	$ 9,349,020	$ 9,033,872
Un earned revenue	$ 4,855,167	$ 14,071,065
Debenture convertible percentage	12.00%	12.00%
Derivative, Gain (Loss) on Derivative, Net	$ 34,492	$ 496,305
Reclassifications of Temporary to Permanent Equity	1,113,403
Embedded derivative liabilities		$ 2,571,004
Interest outstanding	12.00%	12.00%	12.00%	12.00%
Embedded Conversion Feature Liability [Member] \| 12% Convertible Debentures [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liabilities		$ (2,571,004)
Fair value of embedded derivative liabilities recorded within additional paid-capital upon conversion of 12% convertible debentures		$ 10,929,996
Measurement Input, Expected Term [Member] \| Strome Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions, measurement input, term	1 year 6 months 14 days	2 years 5 months 12 days
Measurement Input, Expected Term [Member] \| B. Riley Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions, measurement input, term	3 years 10 months 17 days	4 years 9 months 14 days
Measurement Input, Risk Free Interest Rate [Member] \| Strome Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions, measurement input, percentages	0.0060	0.0013
Measurement Input, Risk Free Interest Rate [Member] \| B. Riley Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions, measurement input, percentages	0.0114	0.0036
Measurement Input, Price Volatility [Member] \| Strome Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions, measurement input, percentages	1.4668	1.5055
Measurement Input, Price Volatility [Member] \| B. Riley Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions, measurement input, percentages	1.4461	1.4095
Measurement Input, Expected Dividend Rate [Member] \| Strome Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions, measurement input, percentages	0.000	0.000
Measurement Input, Expected Dividend Rate [Member] \| B. Riley Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions, measurement input, percentages	0.000
Transaction Date Closing Market [Member] \| Strome Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions, measurement input, price per share	$ 0.62	$ 0.60
Transaction Date Closing Market [Member] \| B. Riley Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions, measurement input, price per share	0.62	0.60
Measurement Input, Exercise Price [Member] \| Strome Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions, measurement input, price per share	0.50	0.50
Measurement Input, Exercise Price [Member] \| B. Riley Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions, measurement input, price per share	$ 0.0033	$ 0.33

Summary of Stock Option Activity (Details) (Parenthetical) - Equity 2019 Incentive Plan [Member] - shares

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares common stock options, outstanding

6,907,454

^[1]

3,730,106

2,955,166

Restricted Stock Units (RSUs) [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares common stock options, outstanding

1,814,044

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number

70,465

[1]	Includes 1,814,044 restricted stock units outstanding

Liquidated Damages Payable (Tables)

12 Months Ended

Dec. 31, 2021

Liquidated Damages Payable

Summary of Liquidated Damages

Liquidated Damages payable are summarized as follows:

Summary of Liquidated Damages

	As of December 31, 2021
	Registration Rights Damages		Public Information Failure Damages		Accrued Interest		Balance
MDB Common Stock to be Issued (1)	$	15,001	$	-	$	-	$	15,001
Series H Preferred Stock		1,163,955		1,171,809		792,365		3,128,129
12% Convertible Debentures		-		873,092		242,325		1,115,417
Series I Preferred Stock		1,386,000		1,386,000		612,877		3,384,877
Series J Preferred Stock		1,560,000		1,560,000		489,797		3,609,797
Series K Preferred Stock		180,420		721,680		50,134		952,234
Total	$	4,305,376	$	5,712,581	$	2,187,498	$	12,205,455

As of December 31, 2020

Registration

Rights

Damages

Public

Information

Failure

Damages

Accrued

Interest
Balance

MDB Common Stock to be Issued (1) $ 15,001 $ - $ - $ 15,001

Series H Preferred Stock 1,163,955 1,163,955 481,017 2,808,927

12% Convertible Debentures - 905,490 134,466 1,039,956

Series I Preferred Stock 1,386,000 1,386,000 332,185 3,104,185

Series J Preferred Stock 1,200,000 1,200,000 200,022 2,600,022

Total $ 3,764,956 $ 4,655,445 $ 1,147,690 $ 9,568,091

(1)	Consists of shares of common stock issuable to MDB Capital Group, LLC (“MDB”).

Restricted Stock Liabilities (Details Narrative) - USD ($)		12 Months Ended
	Dec. 15, 2020	Dec. 31, 2021	Dec. 31, 2020
Restricted Stock Liabilities
Number of shares vested	48,389
Purchase price per share	$ 88.00
Incremental stock-based compensation costs	$ 334,328
Reclassification of restricted stock awards and units from equity to liability classified upon modification	$ 3,800,734	$ (3,623,309)	$ (3,800,734)
Restricted stock repurchased during period shares		22,178

Schedule of Warrants Activity (Details) - $ / shares	12 Months Ended
Schedule of Warrants Activity (Details) - $ / shares	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Exercisable at end of year	116,118
Publisher Partner Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, outstanding, at beginning of year	35,888	42,707
Weighted Average Exercise Price, outstanding, at end of year	$ 29.48	$ 32.12
Weighted Average Remaining Contractual Life, Outstanding at ending of year	6 months	1 year 6 months	2 years 6 months 25 days
Number of Shares, Forfeited	(281)	(6,819)
Number of Shares, outstanding at end of year	35,607	35,888	42,707
Weighted Average Exercise Price, outstanding, at end of year	$ 28.33	$ 29.48	$ 32.12
Number of Shares, Exercisable at end of year	20,766
Weighted Average Exercise Price, Exercisable at end of year	$ 28.88
Weighted Average Remaining Contractual Life, Exercisable	6 months 10 days
Number of Shares, not vested at end of year	14,841
Number of Shares, Available for future grants at end of year	55,303
ABG Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Exercise Price, outstanding, at end of year	$ 13.86	13.86
Weighted Average Exercise Price, outstanding, at end of year	$ 11.55	$ 13.86	$ 13.86
Number of Shares, unvested outstanding, at end of year	899,586	999,540
Number of Shares, vested outstanding, at end of year	99,954
Weighted Average Remaining Contractual Life, Outstanding at ending of year	7 years 5 months 15 days	8 years 5 months 15 days	9 years 5 months 15 days
Number of Shares, unvested issued		(99,954)
Number of Shares, vested issued		99,954
Weighted average exercise price, issued		$ 13.86
Number of Shares, unvested vested	(199,909)
Number of Shares, vested	199,909
Weighted average exercise price, forfeited	$ 12.06
Number of Shares, unvested outstanding, at end of year	699,677	899,586	999,540
Number of Shares, vested outstanding, at end of year	299,863	99,954

Stock–Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Exercise Prices of Common Stock Options

Stock		Number of Shares
Price		that Vest
	$14.30		114,035
	$22.00		151,522
	$33.00		151,522
	$44.00		151,522
			568,601

Schedule of Unrecognized Compensation Expense

Unrecognized compensation expense related to the stock-based compensation awards and equity-based awards as of December 31, 2021 was as follows:

	As of December 31, 2021
	Restricted Stock Awards		Common Stock Awards		Common Equity Awards		Outside Options		Publisher Partner Warrants		ABG Warrants		Totals
Unrecognized compensation expense	$	2,354,832	$	-	$	45,556,247	$	37,694	$	-	$	2,433,889	$	50,382,662
Weighted average period expected to be recognized (in years)		1.41		-		1.98		0.19		-		1.67		1.94

ABG Warrants [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Exercise Prices of Common Stock Options

The exercise prices of the ABG Warrants outstanding and exercisable are as follows as of December 31, 2021.

Exercise		Outstanding		Exercisable
Price		(Shares)		(Shares)
	$9.24		749,655		208,238
	$18.48		249,885		91,625
			999,540		299,863

Schedule of Warrants Activity

A summary of the ABG Warrant activity during the years ended December 31, 2021 and 2020 is as follows:

Schedule of Warrants Activity

	Number of Shares					Weighted Average		Weighted Average Remaining Contractual Life
	Unvested			Vested		Exercise Price		(in years)
ABG Warrants outstanding at January 1, 2020		999,540			-	$	13.86		9.46
Vested		(99,954	)		99,954		13.86
ABG Warrants outstanding at December 31, 2020		899,586			99,954		13.86		8.46
Vested		(199,909	)		199,909		12.06
ABG Warrants outstanding at December 31, 2021		699,677			299,863		11.55		7.46

Summary of Stock-based Compensation

Stock–based compensation and equity-based expense charged to operations or capitalized during the years ended December 31, 2021 and 2020 are summarized as follows:

Summary of Stock-based Compensation

	Year Ended December 31, 2021
	Restricted		Common		Common				Publisher
	Stock		Stock		Equity		Outside		Partner		ABG
	Awards		Awards		Awards		Options		Warrants		Warrants		Totals
Cost of revenue	$	196,651	$	303,899	$	6,974,374	$	2,981	$	-	$	-	$	7,477,905
Selling and marketing		-		34,832		5,265,382		75,653		-		-		5,375,867
General and administrative		1,535,865		174,123		13,879,175		234,101		-		1,816,485		17,639,749
Total costs charged to operations		1,732,516		512,854		26,118,931		312,735		-		1,816,485		30,493,521
Capitalized platform development		11,128		7,101		2,018,993		8,042		-		-		2,045,264
Total stock-based compensation	$	1,743,644		519,955	$	28,137,924	$	320,777	$	-	$	1,816,485	$	32,538,785

	Year Ended December 31, 2020
	Restricted		Common		Common				Publisher
	Stock		Stock		Equity		Outside		Partner		ABG
	Awards		Awards		Awards		Options		Warrants		Warrants		Totals
Cost of revenue	$	163,181	$	156,043	$	3,975,625	$	8,394	$	36,673	$	-	$	4,339,916
Selling and marketing		1,486,722		114,640		2,454,432		272,431		-		-		4,328,225
General and administrative		317,982		615,604		3,439,803		150,577		-		1,449,074		5,973,040
Total costs charged to operations		1,967,885		886,287		9,869,860		431,402		36,673		1,449,074		14,641,181
Capitalized platform development		361,519		178,284		1,062,792		6,400		-		-		1,608,995
Total stock-based compensation	$	2,329,404		1,064,571	$	10,932,652	$	437,802	$	36,673	$	1,449,074	$	16,250,176

Equity 2019 Incentive Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Exercise Prices of Common Stock Options

The exercise prices under the 2019 Plan for the common equity awards outstanding and exercisable are as follows as of December 31, 2021:

Exercise		Outstanding		Exercisable
Price		(Shares)		(Shares)
	No exercise price		1,802,686		166,574
	$7.00 to $9.99		132,281		83,496
	$10.00 to $12.99		1,802,249		974,941
	$13.00 to $15.99		334,825		135,689
	$16.00 to $18.99		1,803,385		664,881
	$19.00 to $21.99		1,032,028		26,951
			6,907,454		2,052,532

Stock Options Outside 2016 Plan and 2019 Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Stock Option Activity

A summary of outside option activity during the years ended December 31, 2021 and 2020 is as follows:

Summary of Stock Option Activity

						Weighted
						Average
				Weighted		Remaining
	Number			Average		Contractual
	of			Exercise		Life
	Shares			Price		(in Years)
Outside options outstanding at January 1, 2020		169,304		$	4.62		9.04
Forfeited		(8,879	)		10.12
Expired		(21,697	)		8.58
Outside options outstanding at December 31, 2020		138,728			10.12		8.07
Forfeited		(31	)		7.70
Expired		(60	)		7.70
Outside options outstanding at December 31, 2021		138,637			10.08		7.07
Outside options exercisable at December 31, 2021		132,955			9.98		7.07
Outside options not vested at December 31, 2021		5,682

Schedule of Exercise Prices of Common Stock Options

The exercise prices of outside options outstanding and exercisable are as follows as of December 31, 2021:

Exercise		Outstanding		Exercisable
Price		(Shares)		(Shares)
	$7.00 to $9.99		70,455		70,455
	$10.00 to $12.99		68,182		62,500
			138,637		132,955

Publisher Partner Warrant [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Exercise Prices of Common Stock Options

The exercise prices of the Publisher Partner Warrants outstanding and exercisable are as follows as of December 31, 2021.

Exercise		Outstanding		Exercisable
Price		(Shares)		(Shares)
	$20.00 to $24.99		6,390		1,844
	$25.00 to $29.99		17,009		12,918
	$30.00 to $34.99		2,521		2,521
	$35.00 to $39.99		4,888		1,138
	$40.00 to $44.99		4,749		2,295
	$45.00 to $49.99		50		50
			35,607		20,766

Schedule of Warrants Activity

A summary of the Publisher Partner Warrants activity during the years ended December 31, 2021 and 2020 is as follows:

Schedule of Warrants Activity

						Weighted
						Average
				Weighted		Remaining
	Number			Average		Contractual
	of			Exercise		Life
	Shares			Price		(in Years)
Publisher Partner Warrants outstanding at January 1, 2020		42,707		$	32.12		2.57
Forfeited		(6,819	)
Publisher Partner Warrants outstanding at December 31, 2020		35,888			29.48		1.50
Expired		(281	)
Publisher Partner Warrants outstanding at December 31, 2021		35,607			28.33		0.50
Publisher Partner Warrants exercisable at December 31, 2021		20,766			28.88		0.53
Publisher Partner Warrants not vested at December 31, 2021		14,841
Publisher Partner Warrants available for future grants at December 31, 2021		55,303

Common Stock Awards [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Fair Value of Stock Options Assumptions

The fair value of common stock awards granted during the year ended December 31, 2020 were calculated using the Black-Scholes option pricing model under the Probability Weighted Scenarios utilizing the following assumptions:

	Up-list		No Up-list
Risk-free interest rate		0.45%		0.45%
Expected dividend yield		0.00%		0.00%
Expected volatility		71.00%		132.00%
Expected life		6.0 years		6.0 years

Summary of Stock Option Activity

A summary of the common stock award activity during the years ended December 31, 2021 and 2020 is as follows:

Summary of Stock Option Activity

						Weighted
						Average
				Weighted		Remaining
	Number			Average		Contractual
	of			Exercise		Life
	Shares			Price		(in Years)
Common stock awards outstanding at January 1, 2020		366,571		$	13.64		8.34
Granted		10,637			19.80
Exercised		(316	)		12.32
Forfeited		(27,327	)		23.98
Expired		(35,823	)		11.66
Common stock awards outstanding at December 31, 2020		313,742			18.92		7.50
Granted		8,041			27.42
Forfeited		(176	)		12.32
Expired		(28,266	)		26.84
Common stock awards outstanding at December 31, 2021		293,341			18.49		6.49
Common stock awards exercisable at December 31, 2021		293,341			18.49		6.49
Common stock awards not vested at December 31, 2021		-
Common stock awards available for future grants at December 31, 2021		161,204

Schedule of Exercise Prices of Common Stock Options

The exercise prices under the 2016 Plan for the common stock awards outstanding and exercisable are as follows as of December 31, 2021:

Exercise		Outstanding		Exercisable
Price		(Shares)		(Shares)
	Under $11.00		32,591		32,591
	$11.01 to $16.50		171,797		171,797
	$16.51 to $22.00		-		-
	$22.01 to $27.50		41,486		41,486
	$27.51 to $33.00		910		910
	$33.01 to $38.50		11,366		11,366
	$38.51 to $44.00		34,509		34,509
	$44.01 to $49.50		682		682
			293,341		293,341

Common Equity Awards [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Fair Value of Stock Options Assumptions

The fair value of common equity awards granted during the years ended December 31, 2021 and 2020 were calculated using the Black-Scholes option pricing model for the time-based and performance-based awards by an independent appraisal firm under the Probability Weighted Scenarios utilizing the following assumptions:

	Year Ended December 31, 2021				Year Ended December 31, 2020
	Up-list		No Up-list		Up-list		No Up-list
Risk-free interest rate		0.16% - 1.48%		0.16% - 1.48%		0.20% - 0.79%		0.20% - 0.79%
Expected dividend yield		0.00%		0.00%		0.00%		0.00%
Expected volatility		65.00% - 90.00%		133.00% - 140.00%		61.00% - 91.00%		61.00% - 142.00%
Expected life		3.0 – 6.0 years		3.0 – 6.0 years		3.0 – 6.7 years		3.0 – 6.7 years

Summary of Stock Option Activity

A summary of the common equity award activity during the years ended December 31, 2021 and 2020 is as follows:

Summary of Stock Option Activity

						Weighted
						Average
				Weighted		Remaining
	Number			Average		Contractual
	of			Exercise		Life
	Shares			Price		(in Years)
Common equity awards outstanding at January 1, 2020		2,955,166		$	11.66		9.43
Granted		1,154,263			15.62
Forfeited		(379,199	)		13.42
Expired		(124	)		12.32
Common equity awards outstanding at December 31, 2020		3,730,106			12.76		8.65
Granted		3,981,907			10.86
Exercised		(7,893	)		10.12
Issued		(22,728	)		-
Forfeited		(433,982	)		16.01
Expired		(339,956	)		12.02
Common equity awards outstanding at December 31, 2021 (1)		6,907,454			11.23		8.63
Common equity awards exercisable at December 31, 2021		2,052,532			12.04		8.16
Common equity awards not vested at December 31, 2021 (1)		4,854,922
Common equity awards available for future grants at December 31, 2021 (2)		1,408,443

(1) Includes 1,814,044 restricted stock units outstanding

(2)

Excludes 70,465 restricted stock awards vested as of December 31, 2021 that were issued under the 2019 Plan

Restricted Stock Units [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Restricted Stock Units Activity

A summary of the restricted stock unit activity during the years ended December 31, 2021 and 2020 is as follows:

						Weighted Average
	Number of Shares					Grant-Date
	Unvested			Vested		Fair Value
Restricted stock units outstanding at January 1, 2020		109,091			-	$	9.90
Forfeited		(109,091	)		-
Restricted stock units outstanding at December 31, 2020		-			-		-
Forfeited		-			-
Restricted stock units outstanding at December 31, 2021		-			-		-

Platform Development

12 Months Ended

Dec. 31, 2021

Platform Development

Platform Development

8. Platform Development

Platform development costs are summarized as follows:

Summary of Platform Development Costs


	As of December 31,
	2021			2020
Platform development	$	21,997,102		$	16,027,428
Less accumulated amortization		(12,698,307	)		(8,671,820	)
Net platform development	$	9,298,795		$	7,355,608

A summary of platform development activity is as follows:

	As of and for the Years Ended December 31,
	2021			2020
Platform development beginning of year	$	16,027,428		$	10,678,692
Payroll-based costs capitalized during the year		4,818,866			3,750,541
Total capitalized costs		20,846,294			14,429,233
Stock-based compensation		2,045,264			1,608,995
Dispositions during the year		(894,456	)		(10,800	)
Platform development end of year	$	21,997,102		$	16,027,428

Amortization expense for platform development for the years ended December 31, 2021 and 2020, was $4,485,384 and $3,890,966, respectively, is included within cost of revenues on the consolidated statements of operations.

Preferred Stock (Details Narrative) - USD ($)												1 Months Ended		12 Months Ended
Preferred Stock (Details Narrative) - USD ($)	May 04, 2021	Dec. 18, 2020	Oct. 31, 2020	Sep. 04, 2020	Aug. 20, 2020	Oct. 07, 2019	Jun. 28, 2019	Dec. 12, 2018	Aug. 10, 2018	Nov. 30, 2001	May 30, 2000	Nov. 11, 2020	Jan. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Preferred stock, shares authorized														1,000,000
Preferred stock par value														$ 0.01
Issuance of common stock in connection with private placement, shares								129,880							230,326
Liquidation damages														$ 5,197,182	$ 9,568,091
August 19, 2020 and October 31, 2020 [Member]
Class of Stock [Line Items]
Beneficial conversion feature															$ 502,000
Common Stock [Member]
Class of Stock [Line Items]
Number of shares converted										8,582
Issuance of common stock in connection with private placement, shares														1,299,027
Series F Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, designated shares														2,000
Series G Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, designated shares														1,800
Shares outstanding											168.496			168,496
Sale of stock											1,800
Number of shares converted											1,631.504
Preferred stock, liquidation value											$ 1,000
Series G Preferred Stock [Member] \| Original Investor [Member]
Class of Stock [Line Items]
Shares outstanding														168.496
Preferred stock, liquidation aggregate amount														$ 168,496
Temporary equity, liquidation preference per share value														$ 1,000
Series H Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, designated shares														23,000
Shares outstanding														15,066
Number of shares converted									2,672,176
Preferred stock, shares issued														15,066	19,596	19,399
Conversion price									$ 7.26
Gross proceeds from issuance of preferred stock									$ 19,399,250
Net proceeds from issuance of preferred stock									18,045,496						$ 113,000
Stock issuance cost									$ 1,353,754				$ 1,353,754
Issuance of common stock in connection with private placement, shares															108
Issuance of common stock upon coversion														624,111	41,323
Liquidation damages														$ 3,128,129	$ 2,808,927
Series H Preferred Stock [Member] \| August 19, 2020 [Member]
Class of Stock [Line Items]
Issuance of common stock in connection with private placement, shares															108
Beneficial conversion feature															$ 113,000
Trading price, per share															$ 18.92
Series H Preferred Stock [Member] \| October 31, 2020 [Member]
Class of Stock [Line Items]
Conversion price															$ 7.26
Issuance of common stock in connection with private placement, shares															389
Beneficial conversion feature															$ 389,000
Trading price, per share															$ 16.94
Series H Preferred Stock [Member] \| Securities Purchase Agreement [Member]
Class of Stock [Line Items]
Preferred stock, liquidation value									$ 1,000
Preferred stock, shares issued									19,399
Series H Preferred Stock [Member] \| Accredited Investor [Member]
Class of Stock [Line Items]
Preferred stock par value					$ 1,000
Number of shares converted					14,877
Conversion price					$ 7.26
Net proceeds from issuance of preferred stock					$ 130,896
Stock issuance cost					$ 113,000
Issuance of common stock in connection with private placement, shares					108
Shares issued during the period deemed null and void					2,145
Series H Preferred Stock [Member] \| James Heckman [Member]
Class of Stock [Line Items]
Preferred stock par value			$ 1,000
Number of shares converted			53,582
Conversion price			$ 7.26
Issuance of common stock in connection with private placement, shares			389
Note payable			$ 389,000
Series I Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock par value							$ 1,000
Preferred stock, designated shares														25,800
Number of shares converted							2,100,000
Preferred stock, shares issued							23,100
Conversion price							$ 11.00
Net proceeds from issuance of preferred stock							$ 23,100,000
Stock issuance cost																$ 1,459,858
Issuance of common stock in connection with private placement, shares																23,100
Issuance of common stock upon coversion															2,100,000
Liquidation damages														$ 3,384,877	$ 3,104,185
Series I Preferred Stock [Member] \| Accredited Investor [Member]
Class of Stock [Line Items]
Net proceeds from issuance of preferred stock							19,699,742
Stock issuance cost							1,459,858
Liquidation damages							$ 1,940,400
Series J Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock par value						$ 1,000
Preferred stock, designated shares														35,000
Number of shares converted						1,299,091
Preferred stock, shares issued						20,000
Conversion price				$ 8.80		$ 15.40
Net proceeds from issuance of preferred stock															$ 6,000,000
Beneficial conversion feature				$ 586,545
Issuance of common stock upon coversion				10,500											1,981,114
Liquidation damages														$ 3,609,797	$ 2,600,022
Series J Preferred Stock [Member] \| Accredited Investor [Member]
Class of Stock [Line Items]
Net proceeds from issuance of preferred stock						$ 17,739,996
Stock issuance cost						580,004
Liquidation damages						1,680,000
Gross proceeds from issuance of preferred stock						$ 20,000,000
Series J Preferred Stock [Member] \| Two Accredited Investors [Member]
Class of Stock [Line Items]
Preferred stock par value				$ 1,000
Conversion price				$ 15.40
Issuance of common stock upon coversion				682,023
Conversion of Stock, Amount Converted				$ 6,000,000
Series K Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock par value												$ 1,000
Preferred stock, designated shares														20,000
Number of shares converted												2,050,228
Preferred stock, shares issued												18,042
Conversion price		$ 8.80										$ 8.80
Net proceeds from issuance of preferred stock												$ 18,042,000			$ 14,675,000
Stock issuance cost															$ 560,500
Issuance of common stock in connection with private placement, shares															18,042
Beneficial conversion feature		$ 9,472,050													$ 17,481,500
Trading price, per share		$ 13.42
Issuance of common stock upon coversion															2,050,228
Liquidation damages														$ 952,234
Working capital and general coporate												11,500,000
Series K Preferred Stock [Member] \| Term Notes [Member]
Class of Stock [Line Items]
Partially repayments of notes												3,400,000
Payments for prior investment												$ 2,600,000
Series K Preferred Stock [Member] \| Registration Rights Agreement [Member]
Class of Stock [Line Items]
Maximum liquidated damages percentage												6.00%
Series K Preferred Stock [Member] \| Security Purchase Agreement [Member]
Class of Stock [Line Items]
Agreement description												If the Company fails for any reason to satisfy the current public information requirement after 6 months of the closing date, then the Company will be obligated to pay to each holder a cash payment equal to 1.0% of the aggregate amount invested for each 30-day period, or pro rata portion thereof, as partial liquidated damages per month, up to a maximum of 6 months, subject to interest at the rate of 1.0% per month until paid in full. The securities purchase agreements provide for Public Information Failure Damages (further details are provided in Note 15).
Series K Preferred Stock [Member] \| B.Riley [Member]
Class of Stock [Line Items]
Cash fee paid												$ 560,500
Series H convertible preferred stock [Member]
Class of Stock [Line Items]
Shares outstanding														15,066	19,596
Temporary equity, liquidation preference per share value														$ 1,000	$ 1,000
Preferred stock, shares issued														15,066	19,596
Net proceeds from issuance of preferred stock															$ 113,000
Series H convertible preferred stock [Member] \| Registration Rights Agreement [Member]
Class of Stock [Line Items]
Agreement description									The registration rights agreement provides for a cash payment equal to 1.0% per month of the amount invested as partial liquidated damages, on each monthly anniversary, payable within 7 days of such event, and upon the occurrence of certain events up to a maximum amount of 6.0% of the aggregate amount invested, subject to interest at 12.0% per annum, accruing daily, until paid in full. The registration rights agreements provide for Registration Rights Damages (further details are provided in Note 15).
Series H convertible preferred stock [Member] \| Security Purchase Agreement [Member]
Class of Stock [Line Items]
Agreement description									If the Company fails for any reason to satisfy the current public information requirement after 6 months of the closing date, then the Company will be obligated to pay to each holder a cash payment equal to 1.0% of the aggregate amount invested for each 30-day period, or pro rata portion thereof, as partial liquidated damages per month, up to a maximum of 6 months, subject to interest at the rate of 1.0% per month until paid in full. The securities purchase agreements provide for Public Information Failure Damages (further details are provided in Note 15).
Series I Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Conversion price		$ 11.00
Beneficial conversion feature		$ 5,082,000
Trading price, per share		$ 13.42
Series I Convertible Preferred Stock [Member] \| Registration Rights Agreement [Member]
Class of Stock [Line Items]
Maximum liquidated damages percentage							6.00%
Series I Convertible Preferred Stock [Member] \| Security Purchase Agreement [Member]
Class of Stock [Line Items]
Agreement description							If the Company fails for any reason to satisfy the current public information requirement after 6 months of the closing date, then the Company will be obligated to pay to each holder a cash payment equal to 1.0% of the aggregate amount invested for each 30-day period, or pro rata portion thereof, as partial liquidated damages per month, up to a maximum of 6 months, subject to interest at the rate of 1.0% per month until paid in full. The securities purchase agreements provide for Public Information Failure Damages (further details are provided in Note 15).
Series J Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares issued
Stock issuance cost																$ 580,004
Issuance of common stock in connection with private placement, shares															10,500	20,000
Trading price, per share		$ 13.42
Series J Convertible Preferred Stock [Member] \| Registration Rights Agreement [Member]
Class of Stock [Line Items]
Maximum liquidated damages percentage				6.00%		6.00%
Series J Convertible Preferred Stock [Member] \| Security Purchase Agreement [Member]
Class of Stock [Line Items]
Agreement description				If the Company fails for any reason to satisfy the current public information requirement after 6 months of the closing date, then the Company will be obligated to pay to each holder a cash payment equal to 1.0% of the aggregate amount invested for each 30-day period, or pro rata portion thereof, as partial liquidated damages per month, up to a maximum of 6 months, subject to interest at the rate of 1.0% per month until paid in full. The securities purchase agreements provide for Public Information Failure Damages (further details are provided in Note 15).
Series L Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock par value	$ 0.01
Conversion price	$ 4.00
Preferred Stock, Voting Rights	The Series L Preferred Stock will be entitled, when, as and if declared, to a preferential per share quarterly dividend payment equal to the greater of (i) $1.00 per share or (ii) 1,000 times the aggregate per share amount of all cash dividends, and 1,000 times the aggregate per share amount (payable in kind) of all non-cash dividends or other distributions paid to the holders of the Company’s common stock. The Series L Preferred Stock will be entitled to 1,000 votes on all matters submitted to a vote of the stockholders of the Company. In the event of any merger, consolidation or other transaction in which shares of the Company’s common stock are converted or exchanged, the Series L Preferred Stock will be entitled to receive 1,000 times the amount received per one share of the Company’s common stock (further details are provided under the heading Series L Preferred Stock in Note 28).

Royalty Fees (Details Narrative) - USD ($)	12 Months Ended
Royalty Fees (Details Narrative) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Unamortization of advance royalty	$ 45,000,000
Royalty fees, current portion	11,250,000	$ 15,000,000
Royalty fees, net of current portion		11,250,000
TheStreet and the Sports Illustrated Licensing Agreement [Member] \| Authentic Brand Group SI LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Prepaid Royalties	$ 11,250,000	$ 26,250,000

Consolidated Balance Sheets - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 9,349,020	$ 9,033,872
Restricted cash	501,780	500,809
Accounts receivable, net	21,659,847	16,497,626
Subscription acquisition costs, current portion	30,162,524	28,146,895
Royalty fees, current portion	11,250,000	15,000,000
Prepayments and other current assets	4,747,847	4,667,263
Total current assets	77,671,018	73,846,465
Property and equipment, net	635,768	1,129,438
Operating lease right-of-use assets	528,431	18,292,196
Platform development, net	9,298,795	7,355,608
Royalty fees, net of current portion		11,250,000
Subscription acquisition costs, net of current portion	8,234,553	13,358,585
Acquired and other intangible assets, net	57,356,497	71,501,835
Other long-term assets	639,151	1,330,812
Goodwill	19,618,667	16,139,377
Total assets	173,982,880	214,204,316
Current liabilities:
Accounts payable	11,981,852	8,228,977
Accrued expenses and other	24,010,569	14,718,193
Line of credit	11,988,194	7,178,791
Unearned revenue	54,029,657	61,625,676
Subscription refund liability	3,086,799	4,035,531
Operating lease liabilities	373,859	1,059,671
Liquidated damages payable	5,197,182	9,568,091
Current portion of long-term debt	5,744,303
Embedded derivative liabilities		1,147,895
Total current liabilities	116,412,415	107,562,825
Unearned revenue, net of current portion	15,275,892	23,498,597
Restricted stock liabilities, net of current portion		1,995,810
Operating lease liabilities, net of current portion	785,320	19,886,083
Liquidating damages payable, net of current portion	7,008,273
Other long-term liabilities	7,556,265	753,365
Deferred tax liabilities	362,118	210,832
Long-term debt, net of current portion	64,372,511	62,194,272
Total liabilities	211,772,794	216,101,784
Commitments and contingencies (Note 27)
Mezzanine equity:
Total mezzanine equity	13,885,992	18,415,992
Stockholders’ deficiency:
Common stock, $0.01 par value, authorized 1,000,000,000 shares: issued and outstanding; 12,632,947 and 10,412,965 shares December 31, 2021 and 2020, respectively	126,329	104,129
Common stock to be issued	491	491
Additional paid-in capital	200,410,213	141,855,206
Accumulated deficit	(252,212,939)	(162,273,286)
Total stockholders’ deficiency	(51,675,906)	(20,313,460)
Total liabilities, mezzanine equity and stockholders’ deficiency	173,982,880	214,204,316
Series G redeemable and convertible preferred stock [Member]
Mezzanine equity:
Total mezzanine equity	168,496	168,496
Series H convertible preferred stock [Member]
Mezzanine equity:
Total mezzanine equity	$ 13,717,496	$ 18,247,496

Fair Value Measurements

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

17. Fair Value Measurements

The Company’s financial instruments consist of Level 1, Level 2 and Level 3 assets as of December 31, 2021 and 2020. As of December 31, 2021 and 2020, the Company’s cash and cash equivalents of $9,349,020 and $9,033,872, respectively, were Level 1 assets and included savings deposits, overnight investments, and other liquid funds with financial institutions.

Financial instruments measured at fair value during the year consisted of the following:

As of December 31, 2021

Fair Value

Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)

Significant

Other

Observable

Inputs

(Level 2)

Significant

Unobservable

Inputs

(Level 3)

Senior Secured Note

60,756,285

	As of December 31, 2020
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Senior Secured Note	$	52,556,401	$	-	$	52,556,401	$	-
Warrant derivative liabilities:
Strome Warrants	$	704,707	$	-	$	-	$	704,707
B. Riley Warrants		443,188		-		-		443,188
Total warrant derivative liabilities	$	1,147,895	$	-	$	-	$	1,147,895

Senior Secured Note – The carrying value of the Senior Secured Note (as defined below) approximates fair value based on current market interest rates for debt instruments of similar credit standing and, consequently, their fair values are based on Level 2 inputs.

The quantitative information utilized in the fair value calculation of the Level 3 liabilities are as follows:

Unearned Revenue – The fair value of unearned revenue remaining in connection with the 2019 acquisition of Sports Illustrated media business, was determined with the following inputs: (1) projection of when unearned revenue will be earned; (2) expense necessary to fulfill the subscriptions; (3) gross up of the fulfillment costs to include a market participant level of profitability; (4) slight premium to the fulfillment-costs plus a reasonable profit metric; and (5) reduce projected future cash flows to present value using an appropriate discount rate. The unearned revenue remaining from the acquisition as of December 31, 2021 was $4,855,167 and $14,071,065, respectively, on the consolidated balance sheets.

The changes in unearned revenue with inputs classified as Level 3 of the fair value hierarchy are reflected within revenue on the consolidated statements of operations.

Warrant Derivative Liabilities – The Company accounted for certain warrants of the 12% Convertible Debentures (as described in Note 18) as derivative liabilities, which required the Company carry such amounts on its consolidated balance sheets as a liability at fair value, as adjusted at each reporting period-end.

The Company determined the fair value of the Strome Warrants and B. Riley Warrants (all as described in Note 21) utilizing the Black-Scholes valuation model as further described below. These warrants were classified as Level 3 within the fair-value hierarchy. Inputs to the valuation model include the Company’s publicly quoted stock price, the stock volatility, the risk-free interest rate, the remaining life of the warrants, the exercise price or conversion price, and the dividend rate. The Company uses the closing stock price of its common stock over an appropriate period of time to compute stock volatility.

These assumptions are summarized as follows:

Strome Warrants – 2021 assumptions upon reclassification to equity: Black-Scholes option-pricing; expected life: 1.54 years; risk-free interest rate: 0.60%; volatility factor: 146.68%; dividend rate: 0.0%; transaction date closing market price: $0.62; exercise price: $0.50; and 2020 assumptions: Black-Scholes option-pricing; expected life: 2.45; risk-free interest rate: 0.13%; volatility factor: 150.55%; dividend rate: 0.0%; transaction date closing market price: $0.60; exercise price: $0.50.

B. Riley Warrants – 2021 assumptions upon reclassification to equity: Black-Scholes option-pricing; expected life: 3.88 years; risk-free interest rate: 1.14%; volatility factor: 144.61%; dividend rate: 0.0%; transaction date closing market price: $0.62; exercise price: $0.33; and 2020 assumptions: Black-Scholes option-pricing; expected life: 4.79 years; risk-free interest rate: 0.36%; volatility factor: 140.95%; dividend rate: 0.0%; transaction date closing market price: $0.60; exercise price: $0.33.

The following table represents the carrying amounts and change in valuation for the Company’s warrants accounted for as a derivative liability and classified within Level 3 of the fair-value hierarchy as of and for the years ended December 31, 2021 and 2020:

	As of and for the Years Ended December 31,
	2021										2020
	Carrying Amount at Beginning of Year		Change in Valuation			Reclassification to Equity			Carrying Amount at End of Year		Carrying Amount at Beginning of Year		Change in Valuation			Carrying Amount at End of Year
Strome Warrants	$	704,707	$	(75,179	)	$	(629,528	)	$	-	$	1,036,687	$	(331,980	)	$	704,707
B. Riley Warrants		443,188		40,687			(483,875	)		-		607,513		(164,325	)		443,188
Total	$	1,147,895	$	(34,492	)	$	(1,113,403	)	$	-	$	1,644,200	$	(496,305	)	$	1,147,895

For the years ended December 31, 2021 and 2020, the change in valuation of warrant derivative liabilities recognized within other (expense) income on the consolidated statements of operations, as described in the above table of $34,492 and $496,305, respectively. The Strome Warrants and B. Riley Warrants were reclassified to equity upon filing an effective registration statement during the year ended December 31, 2021, resulting in a $1,113,403 offset within additional paid-in capital on the consolidated statements of stockholders’ deficiency.

The following table represents the carrying amounts and changes in valuation for the Company’s conversion option features, buy-in features, and default remedy features, as deemed appropriate for each instrument (collectively the embedded derivative liabilities), for the 12% Convertible Debentures (refer to Note 18) accounted for as embedded derivative liabilities and classified within Level 3 of the fair-value hierarchy as of and for the year ended December 31, 2020:

As of and for the Year Ended December 31, 2020

Carrying

Amount at

Beginning of

Year

Change in

Valuation

Fair Value

Recorded

within Equity

Upon

Conversion

Carrying

Amount at End

of Year

12% Convertible Debentures

13,501,000

(2,571,004

)

(10,929,996

)

For the year ended December 31, 2020, the change in valuation of embedded derivative liabilities as described in the above table of $2,571,004 was recognized as other expense on the consolidated statements of operations.

As a result of the conversion of certain 12% Convertible Debentures into shares of the Company’s common stock, the Company recorded the fair value of the embedded derivative liabilities of the conversion option features, buy-in features, and default remedy features of $10,929,996 within additional paid-in capital on the consolidated statements of stockholders’ deficiency (as further described in Note 18).

As of December 31, 2020, there was no longer any principal or accrued but unpaid interest outstanding under the 12% Convertible Debentures since certain holders converted the debt into shares of the Company’s common stock and certain holders were paid in cash.

Share-based Payment Arrangement [Abstract]

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Stock–Based Compensation

12 Months Ended

Dec. 31, 2021

Stock–Based Compensation

22. Stock–Based Compensation

Common Stock Awards

2016 Plan – On December 19, 2016, the Board adopted the 2016 Stock Incentive Plan (the “2016 Plan”). The purpose of the 2016 Plan is to advance the interests of the Company and its stockholders by enabling the Company and its subsidiaries to attract and retain qualified individuals through opportunities for equity participation in the Company, and to reward those individuals who contribute to the Company’s achievement of its economic objectives. The 2016 Plan allows the Company to grant statutory and non-statutory common stock options, and restricted stock awards (collectively the “common stock awards”) to acquire shares of the Company’s common stock to the Company’s employees, directors and consultants. Shares subject to an award that lapse, expire, are forfeited or for any reason are terminated unexercised or unvested will automatically again become available for issuance under the 2016 Plan. Stock awards issued under the 2016 Plan may have a term of up to ten years and may have variable vesting provisions consisting of time-based and performance-based.

On March 28, 2018, the Board approved an increase in the number of shares of the Company’s common stock reserved for grant pursuant to the 2016 Plan from 136,363 shares to 227,272 shares. On August 23, 2018, the Board increased the authorized number of shares of common stock under the 2016 Plan from 227,272 shares to 454,545 shares. The Company’s stockholders approved the increase in the number of shares authorized under the 2016 Plan on April 3, 2020. The issuance of common stock awards under the 2016 Plan is administered by the Company and approved by the Board.

The estimated fair value of the common stock awards is recognized as compensation expense over the vesting period of the award.

	Up-list		No Up-list
Risk-free interest rate		0.45%		0.45%
Expected dividend yield		0.00%		0.00%
Expected volatility		71.00%		132.00%
Expected life		6.0 years		6.0 years

A summary of the common stock award activity during the years ended December 31, 2021 and 2020 is as follows:

Summary of Stock Option Activity

						Weighted
						Average
				Weighted		Remaining
	Number			Average		Contractual
	of			Exercise		Life
	Shares			Price		(in Years)
Common stock awards outstanding at January 1, 2020		366,571		$	13.64		8.34
Granted		10,637			19.80
Exercised		(316	)		12.32
Forfeited		(27,327	)		23.98
Expired		(35,823	)		11.66
Common stock awards outstanding at December 31, 2020		313,742			18.92		7.50
Granted		8,041			27.42
Forfeited		(176	)		12.32
Expired		(28,266	)		26.84
Common stock awards outstanding at December 31, 2021		293,341			18.49		6.49
Common stock awards exercisable at December 31, 2021		293,341			18.49		6.49
Common stock awards not vested at December 31, 2021		-
Common stock awards available for future grants at December 31, 2021		161,204

The aggregate grant date fair value of common stock awards granted during the years ended December 31, 2021 was $173,934.

On January 8, 2021, the Company modified certain common stock awards as follows:

	●	10,000 common stock option grants that were subject to performance-vesting (revenue targets) were modified to remove the performance-vesting conditions and fully vest the award at the modification date with no further service requirement, resulting in incremental cost of $35,352 (recognized at the modification date).

	●	9,091 common stock option grants were that were subject to performance-vesting (publishing onboarding targets) were modified to remove the performance-vesting conditions and fully vest the award at the modification date with no further service requirement, resulting in no incremental cost.

On June 3, 2021, the Company modified certain common stock awards in connection with a consulting agreement entered into on August 26, 2020, as amended on June 3, 2021, which extended to consulting term through August 26, 2022 (the “Amended Consulting Agreement”), as follows:

●

102,272 common stock option grants that were time-vesting were modified to permit the common stock options to be exercisable for their full term, or 10-years, resulting in no incremental cost.

On October 7, 2021, the Company modified certain common stock awards upon the resignation of certain board members from the Board as follows:

●

7,160 common stock option grants that were fully vested and subject time-vesting were modified to permit an extension of the exercise period for 2-years, or through October 7, 2023, resulting in no incremental cost.

The intrinsic value of exercisable but unexercised in-the-money common stock awards as of December 31, 2021 was $384,720 based on a fair market value of the Company’s common stock of $14.08 per share on December 31, 2021.

The exercise prices under the 2016 Plan for the common stock awards outstanding and exercisable are as follows as of December 31, 2021:

Exercise		Outstanding		Exercisable
Price		(Shares)		(Shares)
	Under $11.00		32,591		32,591
	$11.01 to $16.50		171,797		171,797
	$16.51 to $22.00		-		-
	$22.01 to $27.50		41,486		41,486
	$27.51 to $33.00		910		910
	$33.01 to $38.50		11,366		11,366
	$38.51 to $44.00		34,509		34,509
	$44.01 to $49.50		682		682
			293,341		293,341

Information with respect to stock-based compensation cost and unrecognized stock-based compensation cost related to the common stock awards is provided under the heading Stock-Based Compensation.

Common Equity Awards

2019 Plan – On April 4, 2019, the Board adopted the 2019 Equity Incentive Plan (the “2019 Plan”). The purpose of the 2019 Plan is to retain the services of our directors, employees, and consultants and align the interests of these individuals with the interests of our stockholders through awards of stock options, restricted stock awards, restricted stock units, unrestricted stock awards, and stock appreciation rights (collectively the “common equity awards”). Certain common equity awards require the achievement of certain price targets of the Company’s common stock. Shares subject to a common equity award that lapse, expire, are forfeited or for any reason are terminated unexercised or unvested will automatically again become available for issuance under the 2019 Plan. Common stock options issued under the 2019 Plan may have a term of up to ten years and may have variable vesting provisions consisting of time-based, performance-based, or market-based.

The Company’s stockholders approved the 2019 Plan and the maximum number of shares authorized of 3,863,636 under the 2019 Plan on April 3, 2020. On February 18, 2021, the Board increased the authorized number of shares of common stock under the 2019 Plan from 3,863,637 shares to 8,409,090 shares. The issuance of common equity awards under the 2019 Plan is administered by the Company and approved by the Board. Prior to December 18, 2020, the Company did not have sufficient authorized but unissued shares of common stock to allow for the exercise of these common equity awards granted; accordingly, any common equity awards granted were considered unfunded and were not exercisable until sufficient common shares were authorized (further details are provided in Note 21).

During the years ended December 31, 2021 and 2020, the Company issued restricted stock units of shares of the Company’s common stock of 1,677,680 and 147,728, respectively, to senior management under the 2019 Plan, subject to vesting and other terms and conditions.

The estimated fair value of the common equity awards is recognized as compensation expense over the vesting period of the award.

Unless otherwise stated, the fair value of a restricted stock unit is determined based on the number of shares granted and the quoted price of the Company’s common stock on the date issued.

	Year Ended December 31, 2021				Year Ended December 31, 2020
	Up-list		No Up-list		Up-list		No Up-list
Risk-free interest rate		0.16% - 1.48%		0.16% - 1.48%		0.20% - 0.79%		0.20% - 0.79%
Expected dividend yield		0.00%		0.00%		0.00%		0.00%
Expected volatility		65.00% - 90.00%		133.00% - 140.00%		61.00% - 91.00%		61.00% - 142.00%
Expected life		3.0 – 6.0 years		3.0 – 6.0 years		3.0 – 6.7 years		3.0 – 6.7 years

A summary of the common equity award activity during the years ended December 31, 2021 and 2020 is as follows:

Summary of Stock Option Activity

						Weighted
						Average
				Weighted		Remaining
	Number			Average		Contractual
	of			Exercise		Life
	Shares			Price		(in Years)
Common equity awards outstanding at January 1, 2020		2,955,166		$	11.66		9.43
Granted		1,154,263			15.62
Forfeited		(379,199	)		13.42
Expired		(124	)		12.32
Common equity awards outstanding at December 31, 2020		3,730,106			12.76		8.65
Granted		3,981,907			10.86
Exercised		(7,893	)		10.12
Issued		(22,728	)		-
Forfeited		(433,982	)		16.01
Expired		(339,956	)		12.02
Common equity awards outstanding at December 31, 2021 (1)		6,907,454			11.23		8.63
Common equity awards exercisable at December 31, 2021		2,052,532			12.04		8.16
Common equity awards not vested at December 31, 2021 (1)		4,854,922
Common equity awards available for future grants at December 31, 2021 (2)		1,408,443

(1) Includes 1,814,044 restricted stock units outstanding

(2)

Excludes 70,465 restricted stock awards vested as of December 31, 2021 that were issued under the 2019 Plan

The aggregate grant date fair value for the common equity awards granted during the years ended December 31, 2021 and 2020 was $58,093,478 and $11,180,642, respectively.

On January 8, 2021, the Company modified certain common equity awards as follows:

●

475,946 common stock option grants that were issued to senior management were subject to market-based vesting (stock price targets) with a time-vesting overlay were modified to remove the market-based conditions with only the time-vesting condition remaining after the modification, resulting in incremental cost of $125,650 (to be recognized over the remaining time-vesting period of the original award at the modification date).

	●	194,319 common stock option grants that were issued to senior management were subject to performance-vesting (revenue targets) were modified to remove the performance-vesting conditions and replace the time-vesting condition such that the common stock options will vest with respect to one-third of the grant when the option holder completes one year of continuous service beginning on the grant date and the remaining common stock options will vest monthly over twenty-four months when the option holder completes each month of continuous service thereafter, resulting in no incremental cost.

	●	572,674 common stock option grants that were subject to market-based vesting (stock price targets) with a time-vesting overlay were modified, in general, to remove the market-based condition and replace the time-vesting condition such that the common stock options will vest with respect to one-third of the grant when the option holder completes one year of continuous service beginning on the grant date and the remaining common stock options will vest monthly over twenty-four months when the option holder completes each month of continuous service thereafter, resulting in incremental cost of $13,893 (to be recognized over the remaining time-vesting period of the original award at the modification date).

On June 3, 2021, the Company modified certain common equity awards in connection with the Amended Consulting Agreement as follows:

●

659,511 common stock option grants that were subject to performance-vesting conditions (stock-price targets) were modified such that: (1) 90,910 common stock option awards were vested at the modification date, resulting in incremental cost of $51,293 (recognized at the modification date); and (2) 568,601 common stock option awards would vest, subject to the Company’s common stock being listing on a national securities exchange, upon market-based conditions (stock price targets), resulting in incremental cost of $512,883 (to be recognized over the implied service period, or through August 26, 2022, at the modification date) measured by an independent appraisal, subject to certain volume weighted average price provisions and permitting the common stock options to be exercisable for their full term, or 10-years, as follows:

Stock		Number of Shares
Price		that Vest
	$14.30		114,035
	$22.00		151,522
	$33.00		151,522
	$44.00		151,522
			568,601

On October 7, 2021, the Company modified certain common equity awards upon the resignation of certain board members from the Board as follows:

●

65,951 common stock options grants that were subject to market-based vesting (stock price targets) with a time-vesting overlay were modified to remove the market-based conditions and to accelerate the vesting upon resignation from the Board with an extension of the exercise period for 2-years, or through October 7, 2023, resulting in incremental cost of $267,912 (recognized at the modification date).

The intrinsic value of exercisable (or issuable in the case of vested restricted stock units) but unexercised (or unissued in the case of restricted stock units) in-the-money common equity awards as of December 31, 2021 was $6,572,579 based on a fair market value of the Company’s common stock of $14.08 per share on December 31, 2021.

The exercise prices under the 2019 Plan for the common equity awards outstanding and exercisable are as follows as of December 31, 2021:

Exercise		Outstanding		Exercisable
Price		(Shares)		(Shares)
	No exercise price		1,802,686		166,574
	$7.00 to $9.99		132,281		83,496
	$10.00 to $12.99		1,802,249		974,941
	$13.00 to $15.99		334,825		135,689
	$16.00 to $18.99		1,803,385		664,881
	$19.00 to $21.99		1,032,028		26,951
			6,907,454		2,052,532

Information with respect to stock-based compensation cost and unrecognized stock-based compensation cost related to the common equity awards is provided under the heading Stock-Based Compensation.

Outside Options

The Company granted stock options outside the 2016 Plan and 2019 Plan to certain officers, directors and employees of the Company as approved by the Board and administered by the Company (the “outside options”). The stock options were to acquire shares of the Company’s common stock and were subject to: (1) time-based vesting; (2) certain performance-based targets; and (3) certain performance achievements. Options to purchase common stock issued as outside options may have a term of up to ten years. The issuance of outside options is administered by the Company and approved by the Board. Prior to December 18, 2020, the Company did not have sufficient authorized but unissued shares of common stock to allow for the exercise of these outside options granted; accordingly, any common stock options granted were considered unfunded and were not exercisable until sufficient common shares were authorized (further details are provided in Note 21).

A summary of outside option activity during the years ended December 31, 2021 and 2020 is as follows:

Summary of Stock Option Activity

						Weighted
						Average
				Weighted		Remaining
	Number			Average		Contractual
	of			Exercise		Life
	Shares			Price		(in Years)
Outside options outstanding at January 1, 2020		169,304		$	4.62		9.04
Forfeited		(8,879	)		10.12
Expired		(21,697	)		8.58
Outside options outstanding at December 31, 2020		138,728			10.12		8.07
Forfeited		(31	)		7.70
Expired		(60	)		7.70
Outside options outstanding at December 31, 2021		138,637			10.08		7.07
Outside options exercisable at December 31, 2021		132,955			9.98		7.07
Outside options not vested at December 31, 2021		5,682

The intrinsic value of exercisable but unexercised in-the-money outside options as of December 31, 2021 was $545,753 based on a fair market value of the Company’s common stock of $14.08 per share on December 31, 2021.

The exercise prices of outside options outstanding and exercisable are as follows as of December 31, 2021:

Exercise		Outstanding		Exercisable
Price		(Shares)		(Shares)
	$7.00 to $9.99		70,455		70,455
	$10.00 to $12.99		68,182		62,500
			138,637		132,955

Information with respect to stock-based compensation cost and unrecognized stock-based compensation cost related to the outside options is provided under the heading Stock-Based Compensation.

Publisher Partner Warrants

On December 19, 2016, as amended on August 23, 2017, and August 23, 2018, the Board approved the Channel Partner Warrant Program to be administered by management that authorized the Company to grant Publisher Partner Warrants. As of December 31, 2021, Publisher Partner Warrants to purchase up to 90,909 shares of the Company’s common stock were reserved for grant.

The Publisher Partner Warrants had certain performance conditions. Pursuant to the terms of the Publisher Partner Warrants, the Company would notify the respective Publisher Partner of the number of shares earned, with one-third of the earned shares vesting on the notice date, one-third of the earned shares vesting on the first anniversary of the notice date, and the remaining one-third of the earned shares vesting on the second anniversary of the notice date. The Publisher Partner Warrants had a term of five years from issuance and could also be exercised on a cashless basis. Performance conditions are generally based on the average of number of unique visitors on the channel operation by the Publisher Partner generated during the six-month period from the launch of the Publisher Partner’s operations on the Company’s technology platform or the revenue generated during the period from the issuance date through a specified end date.

A summary of the Publisher Partner Warrants activity during the years ended December 31, 2021 and 2020 is as follows:

Schedule of Warrants Activity

						Weighted
						Average
				Weighted		Remaining
	Number			Average		Contractual
	of			Exercise		Life
	Shares			Price		(in Years)
Publisher Partner Warrants outstanding at January 1, 2020		42,707		$	32.12		2.57
Forfeited		(6,819	)
Publisher Partner Warrants outstanding at December 31, 2020		35,888			29.48		1.50
Expired		(281	)
Publisher Partner Warrants outstanding at December 31, 2021		35,607			28.33		0.50
Publisher Partner Warrants exercisable at December 31, 2021		20,766			28.88		0.53
Publisher Partner Warrants not vested at December 31, 2021		14,841
Publisher Partner Warrants available for future grants at December 31, 2021		55,303

On October 26, 2020, the Company recognized incremental compensation costs as a result of the Exchange of $27,754 (see Note 21).

There was no intrinsic value of exercisable but unexercised in-the-money Publisher Partner Warrants since the fair market value of $14.08 per share of the Company’s common stock was lower than the exercise prices on December 31, 2021.

The exercise prices of the Publisher Partner Warrants outstanding and exercisable are as follows as of December 31, 2021.

Exercise		Outstanding		Exercisable
Price		(Shares)		(Shares)
	$20.00 to $24.99		6,390		1,844
	$25.00 to $29.99		17,009		12,918
	$30.00 to $34.99		2,521		2,521
	$35.00 to $39.99		4,888		1,138
	$40.00 to $44.99		4,749		2,295
	$45.00 to $49.99		50		50
			35,607		20,766

Information with respect to stock-based compensation cost and unrecognized stock-based compensation cost related to the Publisher Partner Warrants is provided under the heading Stock-Based Compensation.

Restricted Stock Units

On May 31, 2019, the Company issued 109,090 restricted stock units to certain employees in settlement of the true-up provisions of the restricted stock awards issued at the time of the HubPages merger, which was amended on December 15, 2020 where all of the restricted stock units were forfeited on December 31, 2020 (as further described in Note 12). The terms under which the restricted stock units were granted are summarized as follows:

	●	Each restricted stock unit represented the right to receive a number of the shares of the Company’s common stock pursuant to a grant agreement, subject to certain terms and conditions, and was to be credited to a separate account maintained by the Company in certain circumstances;

	●	The restricted stock units were to vest six equal installments, subject to the conditions as outlined below, at four-month intervals on the first of each month, starting on June 1, 2019, with the final vesting date on February 1, 2021;

	●	The restricted stock units would not vest until the Company increased its authorized shares of the Company’s common stock;

	●	Each restricted stock unit granted and credited to the separate account for the employee was be issued by the Company upon the authorized shares of the Company’s common stock increased (further details are provided in Note 21); and

	●	Unless otherwise specified in an employee’s grant agreement, vesting would have ceased upon the termination of the employees continuous service.

The fair value of a restricted stock unit was determined based on the number of shares granted and the quoted price of the Company’s common stock on the date issued during the year ended December 31, 2020.

A summary of the restricted stock unit activity during the years ended December 31, 2021 and 2020 is as follows:

						Weighted Average
	Number of Shares					Grant-Date
	Unvested			Vested		Fair Value
Restricted stock units outstanding at January 1, 2020		109,091			-	$	9.90
Forfeited		(109,091	)		-
Restricted stock units outstanding at December 31, 2020		-			-		-
Forfeited		-			-
Restricted stock units outstanding at December 31, 2021		-			-		-

Information with respect to stock-based compensation cost related to the restricted stock units is included within the Common Equity Awards caption under the heading Stock-Based Compensation.

ABG Warrants

In connection with the Sports Illustrated Licensing Agreement and issuance of the ABG Warrants to purchase up to 999,540 shares of the Company’s common stock, the Company recorded the issuance of the warrants as stock-based compensation with the fair value of the warrants measured at the time of issuance and expensed over the requisite service period.

A summary of the ABG Warrant activity during the years ended December 31, 2021 and 2020 is as follows:

Schedule of Warrants Activity

	Number of Shares					Weighted Average		Weighted Average Remaining Contractual Life
	Unvested			Vested		Exercise Price		(in years)
ABG Warrants outstanding at January 1, 2020		999,540			-	$	13.86		9.46
Vested		(99,954	)		99,954		13.86
ABG Warrants outstanding at December 31, 2020		899,586			99,954		13.86		8.46
Vested		(199,909	)		199,909		12.06
ABG Warrants outstanding at December 31, 2021		699,677			299,863		11.55		7.46

The intrinsic value of exercisable but unexercised in-the-money ABG Warrants as of December 31, 2021 was $1,007,868 based on a fair market value of the Company’s common stock of $14.08 per share on December 31, 2021.

The exercise prices of the ABG Warrants outstanding and exercisable are as follows as of December 31, 2021.

Exercise		Outstanding		Exercisable
Price		(Shares)		(Shares)
	$9.24		749,655		208,238
	$18.48		249,885		91,625
			999,540		299,863

Information with respect to compensation cost and unrecognized compensation cost related to the ABG Warrants is provided under the heading Stock-Based Compensation.

Stock-Based Compensation

Stock–based compensation and equity-based expense charged to operations or capitalized during the years ended December 31, 2021 and 2020 are summarized as follows:

Summary of Stock-based Compensation

	Year Ended December 31, 2021
	Restricted		Common		Common				Publisher
	Stock		Stock		Equity		Outside		Partner		ABG
	Awards		Awards		Awards		Options		Warrants		Warrants		Totals
Cost of revenue	$	196,651	$	303,899	$	6,974,374	$	2,981	$	-	$	-	$	7,477,905
Selling and marketing		-		34,832		5,265,382		75,653		-		-		5,375,867
General and administrative		1,535,865		174,123		13,879,175		234,101		-		1,816,485		17,639,749
Total costs charged to operations		1,732,516		512,854		26,118,931		312,735		-		1,816,485		30,493,521
Capitalized platform development		11,128		7,101		2,018,993		8,042		-		-		2,045,264
Total stock-based compensation	$	1,743,644		519,955	$	28,137,924	$	320,777	$	-	$	1,816,485	$	32,538,785

	Year Ended December 31, 2020
	Restricted		Common		Common				Publisher
	Stock		Stock		Equity		Outside		Partner		ABG
	Awards		Awards		Awards		Options		Warrants		Warrants		Totals
Cost of revenue	$	163,181	$	156,043	$	3,975,625	$	8,394	$	36,673	$	-	$	4,339,916
Selling and marketing		1,486,722		114,640		2,454,432		272,431		-		-		4,328,225
General and administrative		317,982		615,604		3,439,803		150,577		-		1,449,074		5,973,040
Total costs charged to operations		1,967,885		886,287		9,869,860		431,402		36,673		1,449,074		14,641,181
Capitalized platform development		361,519		178,284		1,062,792		6,400		-		-		1,608,995
Total stock-based compensation	$	2,329,404		1,064,571	$	10,932,652	$	437,802	$	36,673	$	1,449,074	$	16,250,176

Unrecognized compensation expense related to the stock-based compensation awards and equity-based awards as of December 31, 2021 was as follows:

	As of December 31, 2021
	Restricted Stock Awards		Common Stock Awards		Common Equity Awards		Outside Options		Publisher Partner Warrants		ABG Warrants		Totals
Unrecognized compensation expense	$	2,354,832	$	-	$	45,556,247	$	37,694	$	-	$	2,433,889	$	50,382,662
Weighted average period expected to be recognized (in years)		1.41		-		1.98		0.19		-		1.67		1.94

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	1,000,000,000	1,000,000,000
Common Stock, Shares, Issued	12,632,947	10,412,965
Common Stock, Shares, Outstanding	12,632,947	10,412,965
Series G redeemable and convertible preferred stock [Member]
Temporary equity, par value	$ 0.01	$ 0.01
Temporary equity, liquidation preference per share value	$ 1,000	$ 1,000
Temporary equity, shares authorized	1,800	1,800
Temporary equity, liquidation preference value	$ 168,496	$ 168,496
Temporary equity, shares issued	168.496	168.496
Temporary equity, shares outstanding	168.496	168.496
Temporary equity, common shares issuable upon conversion	8,582	8,582
Series H convertible preferred stock [Member]
Temporary equity, par value	$ 0.01	$ 0.01
Temporary equity, liquidation preference per share value	$ 1,000	$ 1,000
Temporary equity, shares authorized	23,000	23,000
Temporary equity, liquidation preference value	$ 15,066,000	$ 19,596,000
Temporary equity, shares issued	15,066	19,596
Temporary equity, shares outstanding	15,066	19,596
Temporary equity, common shares issuable upon conversion	2,075,200	2,699,312

Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Senior Secured Notes and Delayed Draw Term Note

The following table represents the components of the Senior Secured Note and Delayed Draw Term Note:

	As of and for the Years Ended December 31,
	2021									2020
	Senior Secured Note Components			Delayed Draw Term Note Components			Total			Senior Secured Note Components			Delayed Draw Term Note Components			Total
Principal amount of debt:
Principal amount of debt received on June 10, 2019	$	20,000,000		$	-		$	20,000,000		$	20,000,000		$	-		$	20,000,000
Principal amount of debt received on June 14, 2019		48,000,000			-			48,000,000			48,000,000			-			48,000,000
Principal amount of debt received on August 27, 2019		3,000,000			-			3,000,000			3,000,000			-			3,000,000
Principal amount of debt received on March 26, 2020		-			6,913,865			6,913,865			-			6,913,865			6,913,865
Principal amount of debt received on December 28, 2021		-			5,086,135			5,086,135			-			-			-
Subtotal principal amount of debt		71,000,000			12,000,000			83,000,000			71,000,000			6,913,865			77,913,865
Add accrued interest		13,852,050			1,223,506			15,075,556			7,457,388			675,958			8,133,346
Less principal payment paid in Series J Preferred Stock (net of interest of $146,067)		(4,853,933	)		-			(4,853,933	)		(4,853,933	)		-			(4,853,933	)
Less principal payment paid in Series K Preferred Stock (net of interest of $71,495)		-			(3,295,505	)		(3,295,505	)		-			(3,295,505	)		(3,295,505	)
Less principal payments paid in cash		(17,307,364	)		-			(17,307,364	)		(17,307,364	)		-			(17,307,364	)
Principal amount of debt outstanding including accrued interest		62,690,753			9,928,001			72,618,754			56,296,091			4,294,318			60,590,409
Debt discount:
Placement fee to B. Riley FBR		(3,550,000	)		(691,387	)		(4,241,387	)		(3,550,000	)		(691,387	)		(4,241,387	)
Commitment fee (2% of unused commitment)		-			(101,723	)		(101,723	)		-			(101,723	)		(101,723	)
Success based fee to B. Riley FBR		(3,400,000	)		-			(3,400,000	)		(3,400,000	)		-			(3,400,000	)
Legal and other costs		(202,382	)		(120,755	)		(323,137	)		(202,382	)		(120,755	)		(323,137	)
Commitment fee due December 28, 2021		-			(508,614	)		(508,614	)		-			-			-
Subtotal debt discount		(7,152,382	)		(1,422,479	)		(8,574,861	)		(7,152,382	)		(913,865	)		(8,066,247	)
Less amortization of debt discount		5,217,914			855,007			6,072,921			3,412,692			554,693			3,967,385
Unamortized debt discount		(1,934,468	)		(567,472	)		(2,501,940	)		(3,739,690	)		(359,172	)		(4,098,862	)
Carrying value at year-end	$	60,756,285		$	9,360,529		$	70,116,814		$	52,556,401		$	3,935,146		$	56,491,547

Schedule of Long Term Debt

The following table summarizes long-term debt:

Schedule of Long Term Debt

	As of December 31,
	2021								2020
	Principal Balance (including accrued interest)		Unamortized Discount and Debt Issuance Costs			Carrying Value			Principal Balance (including accrued interest)		Unamortized Discount and Debt Issuance Costs			Carrying Value
Senior Secured Note, as amended, matures December 31, 2023	$	62,690,753	$	(1,934,468	)	$	60,756,285		$	56,296,091	$	(3,739,690	)	$	52,556,401
Delayed Draw Term Note, as amended, matures December 31, 2023		9,928,001		(567,472	)		9,360,529			4,294,318		(359,172	)		3,935,146
Paycheck Protection Program Loan, scheduled to mature April 6, 2022, fully forgiven June 22, 2021		-		-			-			5,702,725		-			5,702,725
Total	$	72,618,754	$	(2,501,940	)		70,116,814		$	66,293,134	$	(4,098,862	)		62,194,272
Less current portion							(5,744,303	)							-
Long-term portion						$	64,372,511							$	62,194,272

Schedule of Principal Maturities of Long-term Debt

The following table summarizes principal maturities of long-term debt:

Years Ending December 31,
2022	$	5,924,668
2023		66,694,086
Total	$	72,618,754

Summary of Interest Expense

The following table represents interest expense:

Summary of Interest Expense

	Years Ended December 31,
	2021		2020
Amortization of debt discounts:
12% Convertible Debentures	$	-	$	3,880,609
Senior Secured Note		1,805,222		2,171,910
Delayed Draw Term Note		300,314		554,693
Total amortization of debt discount		2,105,536		6,607,212
Accrued and noncash converted interest:
12% Convertible Debentures		-		2,116,281
Senior Secured Note		6,394,662		6,374,746
Delayed Draw Term Note		547,548		747,453
Payroll Protection Program Loan		13,972		-
Promissory Note		-		5,844
Total accrued and noncash converted interest		6,956,182		9,244,324
Cash paid interest:
Other		1,392,900		645,681
Total interest expense	$	10,454,618	$	16,497,217

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21506-112644

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69E
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21521-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644

Schedule of Long Term Debt (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Short-term Debt [Line Items]
Principal Balance (including accrued interest)	$ 72,618,754	$ 66,293,134
Unamortized discount and debt issuance cost	(2,501,940)	(4,098,862)
Carrying value	70,116,814	62,194,272
Long term debt current portion	(5,744,303)
Long-term portion	64,372,511	62,194,272
Delayed Draw Term Note [Member]
Short-term Debt [Line Items]
Principal Balance (including accrued interest)	9,928,001	4,294,318
Unamortized discount and debt issuance cost	(567,472)	(359,172)
Carrying value	9,360,529	3,935,146
Long-term portion	9,360,529
Senior Secured Notes [Member]
Short-term Debt [Line Items]
Principal Balance (including accrued interest)	62,690,753	56,296,091
Unamortized discount and debt issuance cost	(1,934,468)	(3,739,690)
Carrying value	60,756,285	52,556,401
Payroll Protection Program Loan Member [Member]
Short-term Debt [Line Items]
Principal Balance (including accrued interest)		5,702,725
Unamortized discount and debt issuance cost
Carrying value		$ 5,702,725

Schedule of Fair Value of Financial Instruments

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Leases (Details Narrative) - USD ($)		1 Months Ended	12 Months Ended
Leases (Details Narrative) - USD ($)	Nov. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Oct. 01, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Lessor, Operating Lease, Term of Contract			2 years 9 months
Operating lease right of use asset			$ 528,431	$ 18,292,196
Operating Lease, Impairment Loss			466,356
Operating lease liability			1,159,179
Loss on termination of lease			(7,344,655)
Cash payments			$ 1,131,160
December 1, 2021 and October 1, 2022 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash payments		$ 1,000,000
October 1, 2022 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash payments		1,000,000
October 1, 2023 and October 2, 2023 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash payments		4,000,000
October 1, 2023 and October 1, 2024 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash payments		4,000,000
Sublease Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sublease Income	$ 637,000
Operating lease right of use asset	1,001,511
Operating Lease, Impairment Loss	$ 466,356
Business Membership Agreement [Member] \| Thirty Accounts [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Operating lease liability					$ 25,000
Business Membership Agreement [Member] \| One Hundred Ten Accounts [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Operating lease liability					$ 56,617
Lease Arrangement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Operating lease right of use asset		15,673,474
Operating lease liability		17,934,940
Penalty upon termination		9,606,121
Loss on termination of lease		7,344,655
Proceeds from lease payments		10,000,000
Advertising expense		$ 1,475,000

Property and Equipment (Details Narrative) - USD ($)	12 Months Ended
Property and Equipment (Details Narrative) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 443,422	$ 638,796

Convertible Debt (Details Narrative) - USD ($)	12 Months Ended		24 Months Ended
Convertible Debt (Details Narrative) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2019	Dec. 31, 2018
Short-term Debt [Line Items]
Debt interest rate	12.00%	12.00%	12.00%	12.00%	12.00%
Principal amount of debt	$ 5,086,135	$ 6,913,865	$ 5,086,135
Loss on conversion of debt		3,297,539
Loss on conversion of the accrued interest		$ 21,402,488
Securities Purchase Agreement [Member] \| Holder [Member]
Short-term Debt [Line Items]
Debt conversion description		to each holder a cash payment equal to 1.0% of the aggregate amount invested for each 30-day period, or pro rata portion thereof, as partial liquidated damages per month, up to a maximum of 6 months, subject to interest at the rate of 1.0% per month until paid in full
12% Convertible Debentures [Member]
Short-term Debt [Line Items]
Principal amount of debt		$ 18,104,949
Debt converted into shares		2,449,431
Repayments of debt			$ 1,130,903
12% Convertible Debentures [Member] \| Minimum [Member]
Short-term Debt [Line Items]
Conversion price		$ 7.26
12% Convertible Debentures [Member] \| Maximum [Member]
Short-term Debt [Line Items]
Conversion price		$ 8.80
12% Convertible Debentures [Member] \| Securities Purchase Agreement [Member]
Short-term Debt [Line Items]
Debt conversion description		the Company agreed to register the shares issuable upon conversion of the 12% Convertible Debentures for resale by the holders within a certain timeframe and subject to certain conditions. The registration rights agreement provides for a cash payment equal to 1.0% per month of the amount invested as partial liquidated damages upon the occurrence of certain events, on each monthly anniversary, up to a maximum amount of 6.0% of the aggregate amount invested, subject to interest at 12.0% per annum, accruing daily, until paid in full

Schedule of Contract with Customer, Asset and Liability (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Product Information [Line Items]
Total short-term contract liabilities	$ 54,029,657	$ 61,625,676
Total long-term contract liabilities	15,275,892	23,498,597
Digital Subscriptions [Member]
Product Information [Line Items]
Total short-term contract liabilities	14,692,479	15,039,331
Total long-term contract liabilities	1,444,440	785,636
Print Subscriptions [Member]
Product Information [Line Items]
Total short-term contract liabilities	39,337,178	46,586,345
Total long-term contract liabilities	$ 13,831,452	$ 22,712,961

Schedule of Net Income (Loss) Per Common Share (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	10,774,966	8,076,976
Series G Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	8,582	8,582
Series H Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	2,075,200	2,699,312
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	194,806	14,394
Financing Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	116,118	131,003
ABG Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	999,540	999,540
All Hip Hop Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	5,681	5,681
Publisher Partner Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	35,607	35,888
Common Stock Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	293,341	313,742
Common Equity Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	6,907,454	3,730,106
Outside Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	138,637	138,728

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenue	$ 189,140,334	$ 128,032,397
Cost of revenue (includes amortization for developed technology and platform development for 2021 and 2020 of $8,829,025 and $8,550,952, respectively)	110,977,736	103,063,445
Gross profit	78,162,598	24,968,952
Operating expenses
Selling and marketing	82,691,061	43,589,239
General and administrative	54,400,720	36,007,238
Depreciation and amortization	16,347,274	16,280,475
Loss on disposition of assets	1,192,310	279,133
Loss on impairment of lease	466,356
Loss on termination of lease	7,344,655
Total operating expenses	162,442,376	96,156,085
Loss from operations	(84,279,778)	(71,187,133)
Other (expenses) income
Change in valuation of warrant derivative liabilities	34,492	496,305
Change in valuation of embedded derivative liabilities		2,571,004
Loss on conversion of convertible debt		(3,297,539)
Interest expense	(10,454,618)	(16,497,217)
Interest income	6,484	381,026
Liquidated damages	(2,637,364)	(1,487,577)
Gain upon debt extinguishment	5,716,697
Total other expenses	(7,334,309)	(17,833,998)
Loss before income taxes	(91,614,087)	(89,021,131)
Income tax benefit (provision)	1,674,434	(210,832)
Net loss	(89,939,653)	(89,231,963)
Deemed dividend on convertible preferred stock		(15,642,595)
Net loss attributable to common stockholders	$ (89,939,653)	$ (104,874,558)
Basic and diluted net loss per common share	$ (7.87)	$ (50.18)
Weighted average number of common shares outstanding – basic and diluted	11,429,740	2,090,047

Schedule of Preliminary Purchase Price (Details) (Parenthetical)	Jul. 15, 2021 USD ($)
Fulltime Fantasy Sports LLC [Member]
Business Acquisition [Line Items]
Transaction cost	$ 35,000

Line of Credit

12 Months Ended

Dec. 31, 2021

Line Of Credit

Line of Credit

14. Line of Credit

FastPay Credit Facility – On December 6, 2021, the Company entered into an amendment to its financing and security agreement for its line of credit with FPP Finance LLC (“FastPay”) that was originally entered into on February 27, 2020, pursuant to which (i) the maximum amount of advances available was increased to $25,000,000 from $15,000,000, (ii) the interest rate on the facility applicable margin was decreased to 6.00% per annum from 8.50% per annum (the facility bears interest at the LIBOR rate plus the applicable margin), and (iii) the maturity date was extended to February 28, 2024. The line of credit is for working capital purposes and is secured by a first lien on all the Company’s cash and accounts receivable and a second lien on all other assets. As of December 31, 2021, the balance outstanding under the FastPay line of credit was $11,988,194.

SallyPort Credit Facility – As of January 1, 2020, Sallyport collected accounts receivable in excess of the balance outstanding under the note, therefore, the Company was due $626,532 from Sallyport which was reflected within accounts receivable on the consolidated balance sheets. Effective January 30, 2020, the Company’s factoring facility with Sallyport was closed and funds were no longer available for advance.

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Financial instruments measured at fair value during the year consisted of the following:

As of December 31, 2021

Fair Value

Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)

Significant

Other

Observable

Inputs

(Level 2)

Significant

Unobservable

Inputs

(Level 3)

Senior Secured Note

60,756,285

	As of December 31, 2020
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Senior Secured Note	$	52,556,401	$	-	$	52,556,401	$	-
Warrant derivative liabilities:
Strome Warrants	$	704,707	$	-	$	-	$	704,707
B. Riley Warrants		443,188		-		-		443,188
Total warrant derivative liabilities	$	1,147,895	$	-	$	-	$	1,147,895

Schedule of Valuation Activity for the Embedded Conversion Feature Liability

	As of and for the Years Ended December 31,
	2021										2020
	Carrying Amount at Beginning of Year		Change in Valuation			Reclassification to Equity			Carrying Amount at End of Year		Carrying Amount at Beginning of Year		Change in Valuation			Carrying Amount at End of Year
Strome Warrants	$	704,707	$	(75,179	)	$	(629,528	)	$	-	$	1,036,687	$	(331,980	)	$	704,707
B. Riley Warrants		443,188		40,687			(483,875	)		-		607,513		(164,325	)		443,188
Total	$	1,147,895	$	(34,492	)	$	(1,113,403	)	$	-	$	1,644,200	$	(496,305	)	$	1,147,895

As of and for the Year Ended December 31, 2020

Carrying

Amount at

Beginning of

Year

Change in

Valuation

Fair Value

Recorded

within Equity

Upon

Conversion

Carrying

Amount at End

of Year

12% Convertible Debentures

13,501,000

(2,571,004

)

(10,929,996

)

Schedule of Valuation Activity for the Embedded Conversion Feature Liability

As of and for the Year Ended December 31, 2020

Carrying

Amount at

Beginning of

Year

Change in

Valuation

Fair Value

Recorded

within Equity

Upon

Conversion

Carrying

Amount at End

of Year

12% Convertible Debentures

13,501,000

(2,571,004

)

(10,929,996

)

Summary of Platform Development Cost Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Stock-based compensation	$ 30,493,521	$ 14,641,181
Platform Development [Member]
Property, Plant and Equipment [Line Items]
Platform development beginning of year	16,027,428	10,678,692
Payroll-based costs capitalized during the year	4,818,866	3,750,541
Total capitalized costs	20,846,294	14,429,233
Stock-based compensation	2,045,264	1,608,995
Dispositions during the year	(894,456)	(10,800)
Platform development end of year	$ 21,997,102	$ 16,027,428

Schedule of Restricted Stock Units Activity (Details) - Restricted Stock Units [Member] - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Unvested, outstanding, at beginning of year		109,091
Number of Shares, Vested, outstanding, at beginning of year
Weighted Average Exercise Price, outstanding, at end of year			$ 9.90
Number of shares, unvested, forfeited		(109,091)
Number of shares, vested, forfeited
Number of Shares, Unvested, outstanding at end of year
Number of Shares, Vested, outstanding at end of year

Other Assets (Tables)

12 Months Ended

Dec. 31, 2021

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Summary of Other Assets

Other assets are summarized as follows:

Summary of Other Assets


	As of December 31,
	2021		2020
Security deposit	$	110,418	$	110,418
Other deposits		-		15,400
Prepaid expenses		528,733		732,309
Prepaid supplies		-		472,685
Other assets	$	639,151	$	1,330,812

Stockholders’ Deficiency (Details Narrative) - USD ($)													1 Months Ended	12 Months Ended
Stockholders’ Deficiency (Details Narrative) - USD ($)	Oct. 07, 2021	Jul. 04, 2021	Jun. 04, 2021	Jun. 02, 2021	May 25, 2021	Jan. 21, 2021	Dec. 15, 2020	Dec. 11, 2019	Jun. 14, 2019	Dec. 12, 2018	Oct. 18, 2018	Jan. 04, 2018	Jan. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 18, 2020	Oct. 26, 2020	Aug. 23, 2018	Jun. 15, 2018	Oct. 19, 2017	Dec. 19, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock authorized														1,000,000,000	1,000,000,000	100,000,000
Common stock par value														$ 0.01	$ 0.01
Proceeds from Issuance of Private Placement														$ 20,005,000
Legal Fees														$ 608,614	$ 1,313,610
Issuance of common stock in connection with private placement, shares										129,880					230,326
Remaining shares to be issued														46,406	46,406
Private Placement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of common shares sold												2,728
Restricted Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Sale of Stock, Price Per Share							$ 4
Stock issued for professional services							16,802
Issuance of common stock in connection with private placement, shares								90,910
Restricted stock awards for common shares		194,806											25,569
Number of Shares, exchange														4,035	(48,389)
Exercise of common stock options, issued														7,893
Exercise of common stock options														3,858
Forfeited vested restricted stock including tax withholding														11,190	52,129
Forfeited vested restricted stock														6,835	18,182
Forfeited vested restricted stock tax withholding														4,355	33,947
Hub Pages Inc [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of common stock in connection with private placement, shares														109,091
Restricted stock vesting description														The restricted stock awards provided for a true-up period (in general, the true-up period was for 13 months after the consummation of the merger until 90 days following completion of vesting, or July 30, 2021) that if the common stock was sold for less than $2.50 the holder would receive, subject to certain conditions, additional shares of common stock (i.e. the restricted stock units) up to a maximum of the number of shares originally received (or 109,091 in aggregate to all holders) for the shares that re-sold for less than $2.50, which was settled on May 31, 2019 (as further described in Note 22)
Hub Pages Inc [Member] \| Restricted Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Restricted stock awards for common shares														109,091	48,389
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, Acquisitions															129,880
Issuance of common stock in connection with private placement, shares														1,299,027
Common Stock [Member] \| LiftIgniter [Member] \| Restricted Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, Acquisitions														11,667
MDB Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Original warrant granted															8,163
MDB Warrants [Member] \| Private Placement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exeercise price												2,728								5,435
Exeercise price												$ 55.00								$ 25.30
Warrant expiration term																				5 years
Financing Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exeercise price														$ 14.08
Number of shares issued during period, shares														$ 481,253
Publisher Partner Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exeercise price																	6,819	90,910			227,273
Exeercise price																	$ 45.76
All Hip Hop Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exeercise price																	5,681
Exeercise price																	$ 14.30
ABG Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exeercise price									999,540
Warrant expiration term									10 years
Warrant or Right, Reason for Issuance, Description									1) 40% of the $9.24 Warrants and 40% of the $18.48 Warrants vest in equal monthly increments over a period of two years beginning on the one year anniversary of the date of issuance of the warrants (any unvested portion of such warrants to be forfeited by ABG upon certain terminations by the Company of the Sports Illustrated Licensing Agreement) (the “Time-Based Warrants”); (2) 60% of the $9.24 Warrants and 60% of the $18.48 Warrants vest based on the achievement of certain performance goals for the licensed brands in calendar years 2020, 2021, 2022, or 2023; (3) under certain circumstances the Company may require ABG to exercise all (and not less than all) of the warrants, in which case all of the warrants will be vested; (4) all of the warrants automatically vest upon certain terminations of the Licensing Agreement by ABG or upon a change of control of the Company (the “Performance-Based Warrants”); and (5) ABG has the right to participate, on a pro-rata basis (including vested and unvested warrants, exercised or unexercised), in any future equity issuance of the Company (subject to customary exceptions).
Forty-Two Cents Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exeercise price									$ 9.24
Eighty-Four Cents Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exeercise price									$ 18.48
ABG Time Based Warrans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Incremental costs			$ 417,807
Exeercise price			99,954
Original warrant granted									199,908
Warrant exercise price increase			$ 7.26
Warrant exercise price increase			$ 18.48
ABG Performance Based Warrans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Incremental costs			$ 618,465
Exeercise price			$ 149,931
Original warrant granted			299,862
Warrant exercise price increase			$ 9.24
Warrant exercise price increase			$ 18.48
Board of Directors [Member] \| Restricted Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of common stock in connection with private placement, shares	18,940													48,856
Incremental costs	$ 41,667
Investor [Member] \| B. Riley Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exeercise price											39,773
Exeercise price											$ 22.00
Warrant exercise price increase											$ 7.26
Securities Purchase Agreements [Member] \| Accredited Investors [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of common shares sold				324,676	974,351
Sale of Stock, Price Per Share				$ 15.40	$ 15.40
Proceeds from Issuance of Private Placement				$ 5,000,000	$ 15,005,000
Legal Fees					167,243
Securities Purchase Agreements [Member] \| B.Riley [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Proceeds from Issuance of Private Placement					19,837,757
Legal Fees					$ 100,000
Services Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock issued for professional services						14,205
Trading price, per share						$ 8.80
Security Purchase Agreement [Member] \| Strome Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exeercise price																			68,182
Exeercise price																			$ 11.00

Summary of Common Stock Options Exercisable (Details) - Equity 2019 Incentive Plan [Member] - $ / shares

12 Months Ended

Dec. 31, 2021

Jun. 03, 2021

Dec. 31, 2020

Dec. 31, 2019

Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]

568,601

Number of Shares Common stock options, exercisable at Ending balance

6,907,454

^[1]

3,730,106

2,955,166

2,052,532

Exercise Price Range One [Member]

Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]

$ 14.30

114,035

Number of Shares Common stock options, exercisable at Ending balance

1,802,686

166,574

Exercise Price Range Two [Member]

Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]

$ 22.00

151,522

Number of Shares Common stock options, exercisable at Ending balance

132,281

83,496

$ 7.00

Exercise Price Range Three [Member]

$ 9.99

Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]

$ 33.00

151,522

Number of Shares Common stock options, exercisable at Ending balance

1,802,249

974,941

$ 10.00

Exercise Price Range Four [Member]

$ 12.99

Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]

$ 44.00

151,522

Number of Shares Common stock options, exercisable at Ending balance

334,825

135,689

$ 13.00

Exercise Price Range Five [Member]

$ 15.99

Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]

Number of Shares Common stock options, exercisable at Ending balance

1,803,385

664,881

$ 16.00

Exercise Price Range Six [Member]

$ 18.99

Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]

Number of Shares Common stock options, exercisable at Ending balance

1,032,028

26,951

$ 19.00

Prepayments And Other Current Assets

$ 21.99

[1]	Includes 1,814,044 restricted stock units outstanding

Prepayments and Other Current Assets

12 Months Ended

Dec. 31, 2021

Prepayments and Other Current Assets

4.	Prepayments and Other Current Assets

Prepayments and other current assets are summarized as follows:

	2021		2020
	As of December 31,
	2021		2020
Prepaid expenses	$	3,467,075	$	3,400,080
Prepaid software license		128,525		378,488
Refundable income and franchise taxes		744,642		733,553
Security deposits		-		92,494
Other receivables		407,605		62,648
	$	4,747,847	$	4,667,263

Pension Plans (Tables)

12 Months Ended

Dec. 31, 2021

Pension Plans

Schedule of Recognized Liquidated Damages

The following tables summarize the Liquidated Damages recognized on the consolidated statements of operations during the years ended December 31, 2021 and 2020, with respect to the registration rights agreements and securities purchase agreements:

	Registration Rights Damages		Public Information Failure Damages		Accrued Interest		Balance
	Years Ended December 31, 2021
	Registration Rights Damages		Public Information Failure Damages		Accrued Interest		Balance
Series H Preferred Stock	$	-	$	7,854	$	311,348	$	319,202
12% Convertible Debentures		-		-		75,461		75,461
Series I Preferred Stock		-		-		280,692		280,692
Series J Preferred Stock		360,000		360,000		289,775		1,009,775
Series K Preferred Stock		180,420		721,680		50,134		952,234
Total	$	540,420	$	1,089,534	$	1,007,410	$	2,637,364

	Registration Rights Damages		Public Information Failure Damages		Accrued interest		Balance
	Years Ended December 31, 2020
	Registration Rights Damages		Public Information Failure Damages		Accrued interest		Balance
12% Convertible Debentures	$	-	$	12,300	$	1,578	$	13,878
Series I Preferred Stock		277,200		346,500		69,992		693,692
Series J Preferred Stock		360,000		360,000		60,007		780,007
Total	$	637,200	$	718,800	$	131,577	$	1,487,577

Schedule of Income Taxes

The components of the benefit (provision) for income taxes consist of the following:

Schedule of Income Taxes

	2021			2020
	Years Ended December 31,
	2021			2020
Current tax benefit:
Federal	$	-		$	-
State and local		-			-
Total current tax benefit		-			-
Deferred tax (provision) benefit:
Federal		18,028,497			20,677,960
State and local		4,439,909			5,279,879
Change in valuation allowance		(20,793,972	)		(26,168,671	)
Total deferred tax (provision) benefit		1,674,434			(210,832	)
Total income tax benefit (provision)	$	1,674,434		$	(210,832	)

Schedule of Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities were as follows:

	2021			2020
	As of December 31,
	2021			2020
Deferred tax assets:
Net operating loss carryforwards	$	41,806,276		$	35,535,941
Interest limitation carryforward		2,860,899			-
Tax credit carryforwards		263,873			263,873
Allowance for doubtful accounts		589,585			458,506
Accrued expenses and other		1,767,649			677,909
Lease termination		1,896,991			-
Liquidated damages		2,240,294			1,549,313
Unearned revenue		5,383,337			2,356,111
Stock-based compensation		4,779,191			2,158,080
Operating lease liability		165,065			691,228
Depreciation and amortization		3,029,171			4,341,983
Deferred tax assets		64,782,331			48,032,944
Valuation allowance		(50,447,389	)		(29,653,417	)
Total deferred tax assets		14,334,942			18,379,527
Deferred tax liabilities:
Prepaid expenses		(101,388	)		(144,704	)
Acquisition-related intangibles		(14,595,672	)		(18,445,655	)
Total deferred tax liabilities		(14,697,060	)		(18,590,359	)
Net deferred tax liabilities	$	(362,118	)	$	(210,832	)

Schedule of Tax Benefit and Effective Income Tax

The provision (benefit) for income taxes on the statement of operations differs from the amount computed by applying the statutory federal income tax rate to loss before the benefit for income taxes, as follows:

	Years Ended December 31,
	2021						2020
	Amount			Percent			Amount			Percent
Federal benefit expected at statutory rate	$	(19,238,957	)		21.0	%	$	(18,694,437	)		21.0	%
State and local taxes, net of federal benefit		(4,439,909	)		4.8	%		(5,279,879	)		5.9	%
Stock-based compensation		4,881,640			(5.3	)%		1,768,735			(2.0	)%
Unearned revenue		(2,703,394	)		3.0	%		(5,120,330	)		5.8	%
Interest expense		63,558			(0.1	)%		1,173,535			(1.3	)%
Gain upon debt extinguishment		(1,200,506	)		1.3	%		-			0.0	%
Other differences, net		213,159			(0.2	)%		152,294			(0.2	)%
Valuation allowance		20,793,972			(22.7	)%		26,168,671			(29.4	)%
Other permanent differences		(43,988	)		0.0	%		42,243			0.0	%
Tax provision (benefit) and effective income tax rate	$	(1,674,434	)		1.8	%	$	210,832			(0.2	)%

Long-term Debt (Details Narrative) - USD ($)												12 Months Ended
Long-term Debt (Details Narrative) - USD ($)	Dec. 28, 2021	Jun. 22, 2021	Oct. 23, 2020	Apr. 06, 2020	Mar. 24, 2020	Mar. 24, 2020	Mar. 19, 2020	Feb. 27, 2020	Aug. 27, 2019	Jun. 14, 2019	Jun. 10, 2019	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2021	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Debt instrument interest rate												12.00%	12.00%		12.00%	12.00%
Principal amount of debt												$ 5,086,135	$ 6,913,865
Legal fees												608,614	1,313,610
Carrying value at year-end												64,372,511	62,194,272
Accrued interest												2,501,940	4,098,862
Delayed Draw Term Note [Member]
Debt Instrument [Line Items]
Percentage of decrease in interest							10.00%
Principal amount of debt												12,000,000	6,913,865
Legal fees												120,755	120,755
Carrying value at year-end												9,360,529
Accrued interest												567,472	359,172
Delayed Draw Term Note One [Member]
Debt Instrument [Line Items]
Accrued interest												5,744,303
Accrued interest												180,365
Delayed Draw Term Note Two [Member]
Debt Instrument [Line Items]
Accrued interest												3,616,226
Accrued interest												387,107
Twelve Senior Secured Note [Member]
Debt Instrument [Line Items]
Proceeds from issuance of debt											$ 20,000,000
Twelve Senior Secured Note [Member] \| Amended And Restated Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Proceeds from issuance of debt										$ 48,000,000	$ 68,000,000
12% Amended Senior Secured Notes [Member]
Debt Instrument [Line Items]
Proceeds from issuance of debt					$ 12,000,000	$ 6,913,865		$ 3,000,000	$ 3,000,000
Debt instrument interest rate					12.00%	12.00%
Percentage of decrease in interest					10.00%
Principal amount of debt												71,000,000	71,000,000
Legal fees												202,382	$ 202,382
12% Amended Senior Secured Notes [Member] \| Delayed Draw Term Note [Member]
Debt Instrument [Line Items]
Debt instrument interest rate					15.00%	15.00%	15.00%
Principal amount					$ 25,000,000	$ 25,000,000
Principal amount of debt					12,000,000	12,000,000
Legal fees						793,109
Net proceeds from issuance of debt						6,000,000
12% Amended Senior Secured Notes [Member] \| Delayed Draw Term Note [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Principal amount of debt					$ 8,000,000	$ 8,000,000
Term Note [Member]
Debt Instrument [Line Items]
Proceeds from issuance of debt	$ 5,086,135
Legal fees	508,614
Debt principal and accrued interest amount			$ 3,367,000
Working capital	$ 4,577,522
Payroll Protection Program Loan Member [Member]
Debt Instrument [Line Items]
Proceeds from loan				$ 5,702,725
Debt maturity date				Apr. 06, 2022
Debt forgiveness		$ 5,702,725
Gain (loss) on extinguishment of debt												5,716,697
Accrued interest
Asset Acquisition of Petametrics Inc., [Member]
Debt Instrument [Line Items]
Debt instrument interest rate				98.00%

Subsequent Events (Details Narrative) - USD ($)								1 Months Ended			3 Months Ended	12 Months Ended
Subsequent Events (Details Narrative) - USD ($)	Mar. 31, 2022	Feb. 15, 2022	Feb. 10, 2022	Jan. 24, 2022	Jan. 23, 2022	Jan. 22, 2022	Jul. 15, 2021	Mar. 31, 2022	Mar. 18, 2022	Jan. 31, 2022	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Feb. 15, 2023	Dec. 31, 2019	Dec. 31, 2018
Subsequent Event [Line Items]
Long-term Debt, Gross												$ 72,618,754	$ 60,590,409
Debt instrument interest rate												12.00%	12.00%		12.00%	12.00%
Debt Instrument, Face Amount												$ 5,086,135	$ 6,913,865
Interest Payable												2,187,498	1,147,690
Purchase price							$ 335,000					$ 7,950,457	$ 315,289
Athlon Holdings, Inc. [Member]
Subsequent Event [Line Items]
Equity interest rate												100.00%
Purchase price												$ 16,000,000.0
Cash acquired												13,000,000.0
Payment for equity portion												3,000,000.0
Closing [Member] \| Athlon Holdings, Inc. [Member]
Subsequent Event [Line Items]
Payment for acquired business												10,000,000
Post Closing [Member] \| Athlon Holdings, Inc. [Member]
Subsequent Event [Line Items]
Payment for acquired business												$ 3,000,000.0
Delayed Draw Term Note [Member] \| Forecast [Member]
Subsequent Event [Line Items]
Debt instrument interest rate														10.00%
Subsequent Event [Member]
Subsequent Event [Line Items]
Paid-in-Kind Interest											$ 1,200,000
Notes Payable	$ 10,200,000							$ 10,200,000			10,200,000
Outstanding principal								$ 8,700,000
Unpaid accrued interest											300,000
Exercise price	$ 8.82								$ 8.82
Subsequent Event [Member] \| Stock Purchase Agreements [Member]
Subsequent Event [Line Items]
Sale of Stock, Number of Shares Issued in Transaction				505,671
Sale of Stock, Price Per Share				$ 13.86
Sale of Stock, Consideration Received on Transaction				$ 7,010,000.00
Subsequent Event [Member] \| Stock Purchase Agreements [Member] \| Underwritten Agreement [Member]
Subsequent Event [Line Items]
Sale of Stock, Price Per Share		$ 0.01
Subsequent Event [Member] \| Public Offering [Member] \| Underwritten Agreement [Member]
Subsequent Event [Line Items]
Number of Shares, Unvested Issued			545,454
Sale of Stock, Number of Shares Issued in Transaction		3,636,364
Sale of Stock, Consideration Received on Transaction		$ 34,500,000
Shares Issued, Price Per Share		$ 8.25
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period			545,239
Subsequent Event [Member] \| Fast Pay [Member]
Subsequent Event [Line Items]
Long-term Debt, Gross										$ 7,300,000
Subsequent Event [Member] \| Senior Secured Notes [Member]
Subsequent Event [Line Items]
Long-term Debt, Gross					$ 64,300,000
Debt Instrument, Maturity Date, Description					the maturity date on the note was extended to (i) December 31, 2023 from December 31, 2022
Debt instrument interest rate					10.00%
Debt Instrument, Face Amount					$ 48,800,000
Paid-in-Kind Interest						$ 13,900,000
Interest Payable						$ 1,600,000
Subsequent Event [Member] \| Delayed Draw Term Note [Member]
Subsequent Event [Line Items]
Debt Instrument, Periodic Payment											5,900,000
Debt Instrument, Periodic Payment, Interest											$ 4,000,000.0
Subsequent Event [Member] \| 2019 Equity Incentive Plan [Member] \| Common Stock Options and Restricted Stock Units [Member]
Subsequent Event [Line Items]
Number of Shares, Unvested Issued										200,330

Schedule of Cash and Restricted Cash (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Cash and cash equivalents	$ 9,349,020	$ 9,033,872
Restricted cash	501,780	500,809
Total cash, cash equivalents, and restricted cash	$ 9,850,800	$ 9,534,681

Schedule of Exercise Prices of Common Stock Options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
2016 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, outstanding	293,341	313,742	366,571
Number of shares, exercisable	293,341
2016 Stock Incentive Plan [Member] \| Exercise Price Range One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price upper range	$ 11.00
Number of shares, outstanding	32,591
Number of shares, exercisable	32,591
2016 Stock Incentive Plan [Member] \| Exercise Price Range Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price upper range	$ 16.50
Number of shares, outstanding	171,797
Number of shares, exercisable	171,797
Exercise price lower range	$ 11.01
2016 Stock Incentive Plan [Member] \| Exercise Price Range Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price upper range	$ 22.00
Number of shares, outstanding
Number of shares, exercisable
Exercise price lower range	$ 16.51
2016 Stock Incentive Plan [Member] \| Exercise Price Range Four [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price upper range	$ 27.50
Number of shares, outstanding	41,486
Number of shares, exercisable	41,486
Exercise price lower range	$ 22.01
2016 Stock Incentive Plan [Member] \| Exercise Price Range Five [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price upper range	$ 33.00
Number of shares, outstanding	910
Number of shares, exercisable	910
Exercise price lower range	$ 27.51
2016 Stock Incentive Plan [Member] \| Exercise Price Range Six [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price upper range	$ 38.50
Number of shares, outstanding	11,366
Number of shares, exercisable	11,366
Exercise price lower range	$ 33.01
2016 Stock Incentive Plan [Member] \| Exercise Price Range Seven [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price upper range	$ 44.00
Number of shares, outstanding	34,509
Number of shares, exercisable	34,509
Exercise price lower range	$ 38.51
2016 Stock Incentive Plan [Member] \| Exercise Price Range Eight [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price upper range	$ 49.50
Number of shares, outstanding	682
Number of shares, exercisable	682
Exercise price lower range	$ 44.01
Stock Options Outside 2016 Plan and 2019 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, outstanding	138,637	138,728	169,304
Number of shares, exercisable	132,955
Stock Options Outside 2016 Plan and 2019 Plan [Member] \| Exercise Price Range One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price upper range	$ 9.99
Number of shares, outstanding	70,455
Number of shares, exercisable	70,455
Exercise price lower range	$ 7.00
Stock Options Outside 2016 Plan and 2019 Plan [Member] \| Exercise Price Range Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price upper range	$ 12.99
Number of shares, outstanding	68,182
Number of shares, exercisable	62,500
Exercise price lower range	$ 10.00
Publisher Partner Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, outstanding	35,607
Number of shares, exercisable	20,766
Publisher Partner Warrant [Member] \| Exercise Price Range One [Member] \| Black-Scholes Option Pricing Model [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price upper range	$ 24.99
Number of shares, outstanding	6,390
Number of shares, exercisable	1,844
Exercise price lower range	$ 20.00
Publisher Partner Warrant [Member] \| Exercise Price Range Two [Member] \| Black-Scholes Option Pricing Model [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price upper range	$ 29.99
Number of shares, outstanding	17,009
Number of shares, exercisable	12,918
Exercise price lower range	$ 25.00
Publisher Partner Warrant [Member] \| Exercise Price Range Three [Member] \| Black-Scholes Option Pricing Model [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price upper range	$ 34.99
Number of shares, outstanding	2,521
Number of shares, exercisable	2,521
Exercise price lower range	$ 30.00
Publisher Partner Warrant [Member] \| Exercise Price Range Four [Member] \| Black-Scholes Option Pricing Model [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price upper range	$ 39.99
Number of shares, outstanding	4,888
Number of shares, exercisable	1,138
Exercise price lower range	$ 35.00
Publisher Partner Warrant [Member] \| Exercise Price Range Five [Member] \| Black-Scholes Option Pricing Model [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price upper range	$ 44.99
Number of shares, outstanding	4,749
Number of shares, exercisable	2,295
Exercise price lower range	$ 40.00
Publisher Partner Warrant [Member] \| Exercise Price Range Six [Member] \| Black-Scholes Option Pricing Model [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price upper range	$ 49.99
Number of shares, outstanding	50
Number of shares, exercisable	50
Exercise price lower range	$ 45.00
ABG Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, outstanding	999,540
Number of shares, exercisable	299,863
ABG Warrants [Member] \| Exercise Price Range One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, outstanding	749,655
Number of shares, exercisable	208,238
Exercise price lower range	$ 9.24
ABG Warrants [Member] \| Exercise Price Range Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, outstanding	249,885
Number of shares, exercisable	91,625
Exercise price lower range	$ 18.48

Schedule of 12% Convertible Debentures (Details) - USD ($)					1 Months Ended	12 Months Ended
	Apr. 08, 2019	Mar. 27, 2019	Mar. 18, 2019	Dec. 12, 2018	Dec. 12, 2018	Dec. 31, 2021	Dec. 31, 2020
Short-term Debt [Line Items]
Principal amount of debt						$ 5,086,135	$ 6,913,865
Add: accrued interest						2,187,498	1,147,690
Repayments in cash							(1,130,903)
Debt discount						2,105,536	6,607,212
Debt discount						$ (8,574,861)	(8,066,247)
Convertible Debenture [Member] \| 12% Convertible Debenture [Member]
Short-term Debt [Line Items]
Principal amount of debt	$ 100,000	$ 318,000	$ 1,696,000	$ 9,540,000	$ 9,540,000		11,654,000
Less issuance costs		(18,000)	(96,000)	(590,000)	(590,000)		(704,000)
Net cash proceeds received	100,000	300,000	1,600,000	8,950,000			10,950,000
Principal amount of debt (excluding original issue discount)	100,000	318,000	1,696,000	9,540,000	9,540,000		11,654,000
Add conversion of debt from convertible debentures				3,551,528			3,551,528
Add: accrued interest	22,698	72,738	393,989	3,540,899	3,540,899		4,030,324
Principal amount of debt including accrued interest	122,698	390,738	2,089,989	16,632,427			19,235,852
Conversion in connection with issuance of common stock	(122,698)	(22,119)	(2,089,989)	(15,870,143)			(18,104,949)
Repayments in cash		(368,619)		(762,284)			(1,130,903)
Principal amount of debt
Allocated embedded derivative liabilities at issuance	(64,000)	(188,000)	(822,000)		(4,760,000)		(5,834,000)
Liquidated Damages recognized upon issuance	(4,200)	(12,600)	(67,200)	(706,944)			(790,944)
Issuance cost incurred at issuance		(18,000)	(106,000)	(590,000)	(590,000)		(714,000)
Debt discount	(68,200)	(218,600)	(995,200)	(6,056,944)			(7,338,944)
Amortization of debt discount	68,200	218,600	995,200	6,056,944	6,056,944		7,338,944
Debt discount
Convertible Debentures balance

Liquidated Damages Payable (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Liquidated Damages Payable
Liquidated damages payable, current	$ 12,205,455
Liquidated damages payable, current	5,197,182	$ 9,568,091
Liquidating damages payable, net of current portion	$ 7,008,273
Liquidated damages payable accrued interest	1.00%

Other Assets

12 Months Ended

Dec. 31, 2021

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

10. Other Assets

Other assets are summarized as follows:

Summary of Other Assets


	As of December 31,
	2021		2020
Security deposit	$	110,418	$	110,418
Other deposits		-		15,400
Prepaid expenses		528,733		732,309
Prepaid supplies		-		472,685
Other assets	$	639,151	$	1,330,812

Schedule of Operating Lease Costs (Details) (Parenthetical) - USD ($)

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Operating Lease, Cost

^[1],[2]

$ 2,718,499

$ 4,054,423

Business Membership Agreement [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Operating Lease, Cost

$ 75,000

[1]	Includes certain costs associated with a business membership agreement that permits access to certain office space of $75,000
[2]	Operating lease costs is presented net of sublease income that is not material.

Summary of Stock-based Compensation (Details) - USD ($)	12 Months Ended
Summary of Stock-based Compensation (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost of revenue	$ 110,977,736	$ 103,063,445
Selling and marketing	82,691,061	43,589,239
General and administrative	54,400,720	36,007,238
Total stock-based compensation	30,493,521	14,641,181
Stock Based Compensation [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost of revenue	7,477,905	4,339,916
Selling and marketing	5,375,867	4,328,225
General and administrative	17,639,749	5,973,040
Total costs charged to operations	30,493,521	14,641,181
Capitalized platform development	2,045,264	1,608,995
Total stock-based compensation	32,538,785	16,250,176
Stock Based Compensation [Member] \| Publisher Partner Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost of revenue		36,673
Selling and marketing
General and administrative
Total costs charged to operations		36,673
Capitalized platform development
Total stock-based compensation		36,673
Stock Based Compensation [Member] \| ABG Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost of revenue
Selling and marketing
General and administrative	1,816,485	1,449,074
Total costs charged to operations	1,816,485	1,449,074
Capitalized platform development
Total stock-based compensation	1,816,485	1,449,074
Restricted Stock [Member] \| Stock Based Compensation [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost of revenue	196,651	163,181
Selling and marketing		1,486,722
General and administrative	1,535,865	317,982
Total costs charged to operations	1,732,516	1,967,885
Capitalized platform development	11,128	361,519
Total stock-based compensation	1,743,644	2,329,404
Common Stock Awards [Member] \| Stock Based Compensation [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost of revenue	303,899	156,043
Selling and marketing	34,832	114,640
General and administrative	174,123	615,604
Total costs charged to operations	512,854	886,287
Capitalized platform development	7,101	178,284
Total stock-based compensation	519,955	1,064,571
Common Equity Awards [Member] \| Stock Based Compensation [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost of revenue	6,974,374	3,975,625
Selling and marketing	5,265,382	2,454,432
General and administrative	13,879,175	3,439,803
Total costs charged to operations	26,118,931	9,869,860
Capitalized platform development	2,018,993	1,062,792
Total stock-based compensation	28,137,924	10,932,652
Outside Options [Member] \| Stock Based Compensation [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost of revenue	2,981	8,394
Selling and marketing	75,653	272,431
General and administrative	234,101	150,577
Total costs charged to operations	312,735	431,402
Capitalized platform development	8,042	6,400
Total stock-based compensation	$ 320,777	$ 437,802

Schedule of Senior Secured Notes and Delayed Draw Term Note (Details) (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Unused commitment percentage	2.00%	2.00%
Series K Preferred Stock [Member] \| 12% Amended Senior Secured Notes [Member]
Debt Instrument [Line Items]
Principal payment interest	$ 71,495	$ 71,495
Delayed Draw Term Note [Member] \| Series J Preferred Stock [Member]
Debt Instrument [Line Items]
Principal payment interest	$ 146,067	$ 146,067

Intangible Assets (Details Narrative) - USD ($)	12 Months Ended
Intangible Assets (Details Narrative) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization expense of intangible asset	$ 20,247,493	$ 20,301,665
Developed Technology Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense of intangible asset	$ 4,343,641	$ 4,659,986

Accrued Expenses and Other (Tables)

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Schedule of Accrued Expenses

Accrued expenses and other are summarized as follows:

Schedule of Accrued Expenses


	As of December 31,
	2021		2020
General accrued expenses	$	4,491,283	$	4,116,875
Accrued payroll and related taxes		7,124,180		2,519,903
Accrued publisher expenses		6,319,068		3,956,114
Deferred cash payments in connection with acquisitions		655,928		-
Sales tax liability		778,774		1,063,515
Restricted stock liabilities		2,151,718		1,627,499
Lease termination liability		1,845,981		-
Other		643,637		1,434,287
Total accrued expenses	$	24,010,569	$	14,718,193

Commitments and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

27. Commitments and Contingencies

Contingent Liability

In connection with the Company’s underwritten public offering in February 2022, the Company may have a contingent liability arising out of possible violations of the Securities Act of 1933, as amended (the “Securities Act”) in connection with an investor presentation, which the Company publicly filed. Specifically, the furnishing of the investor presentation publicly may have constituted an “offer to sell” as described in Section 5(b)(1) of the Securities Act and the investor presentation may be deemed to be a prospectus that did not meet the requirements of Section 10 of the Securities Act, resulting in a potential violation of Section 5(b)(1) of the Securities Act. Any liability would depend upon the number of shares purchased by investors who reviewed and relied upon the investor presentation. If a claim were brought by any such investor and a court were to conclude that the public disclosure of such investor presentation constituted a violation of the Securities Act, the Company could be required to repurchase the shares sold to the investors at the original purchase price, plus statutory interest. The Company could also incur considerable expense in contesting any such claims. As of the issuance date of these consolidated financial statements, no legal proceedings or claims have been made or threatened by any investors. The likelihood and magnitude of this contingent liability, if any, is not determinable at this time.

Claims and Litigation

From time to time, the Company may be subject to claims and litigation arising in the ordinary course of business. The Company is not currently a party to any pending or threatened legal proceedings that it believes would reasonably be expected to have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows.

Convertible Debt

12 Months Ended

Dec. 31, 2021

Convertible Debt

18. Convertible Debt

The Company had various financings through the issuance of 12% senior subordinated convertible debentures during 2018 and 2019 that were due and payable on December 31, 2020 (the “12% Convertible Debentures”). In connection with the issuance of the 12% Convertible Debentures the Company recognized certain embedded derivative liabilities that were bifurcated from the note instruments, consisting of a: (i) conversion option; (ii) buy-in feature; and (iii) default remedy feature, which required the Company to carry such amounts on its consolidated financial statements as a liability at fair value, as adjusted at each period-end. The Company also incurred debt issuance cost. The embedded derivative liabilities and debt issuance cost were treated as a debt discount and amortized over the term of the debt.

The Company entered into a registration rights agreements in connection with the securities purchase agreements, where the Company agreed to register the shares issuable upon conversion of the 12% Convertible Debentures for resale by the holders within a certain timeframe and subject to certain conditions. The registration rights agreement provides for a cash payment equal to 1.0% per month of the amount invested as partial liquidated damages upon the occurrence of certain events, on each monthly anniversary, up to a maximum amount of 6.0% of the aggregate amount invested, subject to interest at 12.0% per annum, accruing daily, until paid in full. The registration rights agreements provide for Registration Rights Damages (further details are provided in Note 15).

The securities purchase agreements also included a provision that requires the Company to maintain its periodic filings with the SEC in order to satisfy the public information requirements under Rule 144(c) of the Securities Act. If the Company fails for any reason to satisfy the current public information requirement after 6 months of the closing date, then the Company will be obligated to pay to each holder a cash payment equal to 1.0% of the aggregate amount invested for each 30-day period, or pro rata portion thereof, as partial liquidated damages per month, up to a maximum of 6 months, subject to interest at the rate of 1.0% per month until paid in full. The securities purchase agreements provide for Public Information Failure Damages (further details are provided in Note 15).

The Company recognized a portion of the Public Information Failure Damages pursuant to the securities purchase agreements in connection with the 12% Convertible Debentures at the time of issuance as it was deemed probable the obligations would not be satisfied when the financings were completed (see Note 15).

On December 31, 2020, certain holders converted the 12% Convertible Debentures representing an aggregate of $18,104,949 of the then-outstanding principal and accrued but unpaid interest into 2,449,431 shares of the Company’s common stock at effective conversion per-share prices ranging from $7.26 to $8.80. Further, the Company repaid an aggregate of $1,130,903 of the 12% Convertible Debentures, including the then-outstanding principal and accrued interest, in cash. With respect to the conversion of the accrued interest into shares of the Company’s common stock, the Company recognized a loss on conversion of $3,297,539 at the time of conversion on the consolidated statements of operations. Upon conversion of the 12% Convertible Debentures, the Company recorded the aggregate outstanding principal and loss on conversion of the accrued interest of $21,402,488 within additional paid-in capital on the consolidated statements of stockholders’ deficiency.

The following table represents the various components of the 12% Convertible Debentures as of and for the year ended December 31, 2020:

Schedule of 12% Convertible Debentures

	Issuance Date												Total 12%
	December 12, 2018			March 18, 2019			March 27, 2019			April 8, 2019			Convertible Debentures
Principal amount of debt:	$	9,540,000		$	1,696,000		$	318,000		$	100,000		$	11,654,000
Less: issuance costs		(590,000	)		(96,000	)		(18,000	)		-			(704,000	)
Net cash proceeds received	$	8,950,000		$	1,600,000		$	300,000		$	100,000		$	10,950,000
Principal amount of debt (excluding original issue discount)	$	9,540,000		$	1,696,000		$	318,000		$	100,000		$	11,654,000
Add: conversion of debt from convertible debentures		3,551,528			-			-			-			3,551,528
Add: accrued interest		3,540,899			393,989			72,738			22,698			4,030,324
Principal amount of debt including accrued interest		16,632,427			2,089,989			390,738			122,698			19,235,852
Less: conversion in connection with issuance of common stock		(15,870,143	)		(2,089,989	)		(22,119	)		(122,698	)		(18,104,949	)
Less: repayments in cash		(762,284	)		-			(368,619	)		-			(1,130,903	)
Principal amount of debt		-			-			-			-			-
Debt discount:
Allocated embedded derivative liabilities at issuance		(4,760,000	)		(822,000	)		(188,000	)		(64,000	)		(5,834,000	)
Liquidated Damages recognized upon issuance		(706,944	)		(67,200	)		(12,600	)		(4,200	)		(790,944	)
Issuance cost incurred at issuance		(590,000	)		(106,000	)		(18,000	)		-			(714,000	)
Total debt discount		(6,056,944	)		(995,200	)		(218,600	)		(68,200	)		(7,338,944	)
Less: amortization of debt discount		6,056,944			995,200			218,600			68,200			7,338,944
Debt discount		-			-			-			-			-
12% Convertible Debentures balance at December 31, 2020	$	-		$	-		$	-		$	-		$	-

For additional information for the year ended December 31, 2020 with respect to interest expense related to the 12% Convertible Debentures is provided in Note 19.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Schedule of Components of Restricted Stock liabilities

Schedule of Recognized Liquidated Damages (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Registration Rights Damages	$ 4,305,376	$ 3,764,956
Public information failure damages	5,712,581	4,655,445
Interest Payable	2,187,498	1,147,690
Liquidating damages payable	2,637,364	1,487,577
12% Convertible Debt [Member]
Liquidating damages payable	75,461	13,878
Registration Rights Agreements And Securities Purchase Agreement [Member]
Registration Rights Damages	540,420	637,200
Public information failure damages	1,089,534	718,800
Interest Payable	1,007,410	131,577
Registration Rights Agreements And Securities Purchase Agreement [Member] \| 12% Convertible Debt [Member]
Registration Rights Damages
Public information failure damages		12,300
Interest Payable	75,461	1,578
Series H Preferred Stock [Member]
Registration Rights Damages	1,163,955	1,163,955
Public information failure damages	1,171,809	1,163,955
Interest Payable	792,365	481,017
Liquidating damages payable	319,202
Series H Preferred Stock [Member] \| Registration Rights Agreements And Securities Purchase Agreement [Member]
Registration Rights Damages
Public information failure damages	7,854
Interest Payable	311,348
Series I Preferred Stock [Member]
Registration Rights Damages	1,386,000	1,386,000
Public information failure damages	1,386,000	1,386,000
Interest Payable	612,877	332,185
Liquidating damages payable	280,692	693,692
Series I Preferred Stock [Member] \| Registration Rights Agreements And Securities Purchase Agreement [Member]
Registration Rights Damages		277,200
Public information failure damages		346,500
Interest Payable	280,692	69,992
Series J Preferred Stock [Member]
Registration Rights Damages	1,560,000	1,200,000
Public information failure damages	1,560,000	1,200,000
Interest Payable	489,797	200,022
Liquidating damages payable	1,009,775	780,007
Series J Preferred Stock [Member] \| Registration Rights Agreements And Securities Purchase Agreement [Member]
Registration Rights Damages	360,000	360,000
Public information failure damages	360,000	360,000
Interest Payable	289,775	$ 60,007
Series K Preferred Stock [Member]
Registration Rights Damages	180,420
Public information failure damages	721,680
Interest Payable	50,134
Liquidating damages payable	952,234
Series K Preferred Stock [Member] \| Registration Rights Agreements And Securities Purchase Agreement [Member]
Registration Rights Damages	180,420
Public information failure damages	721,680
Interest Payable	$ 50,134

Restricted Stock Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Restricted Stock Liabilities

The following table presents the components of the restricted stock liabilities:

	As of December 31,
	2021			2020
Restricted stock liabilities (before imputed interest)	$	3,800,734		$	4,258,196
Less imputed interest		(177,425	)		(457,462	)
Present value of restricted stock liabilities		3,623,309			3,800,734
Less payments during the years		(1,471,591	)		(177,425	)
Restricted stock liabilities at end of year	$	2,151,718		$	3,623,309
Current portion of restricted stock liabilities (reflected in accrued expenses and other)	$	2,151,718		$	1,627,499
Long-term portion of restricted stock liabilities		-			1,995,810
Total restricted stock liabilities at end of year	$	2,151,718		$	3,623,309

Other Long-term Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Other Long-term Liabilities

Schedule of Other long-term liabilities

Other long-term liabilities consisted of the following:

Schedule of Other long-term liabilities


	As of December 31,
	2021		2020
Lease termination liability	$	6,928,053	$	541,381
Deferred cash payment liabilities		410,037		-
Other		218,175		211,984
Other long-term liabilities	$	7,556,265	$	753,365

Preferred Stock (Tables)

12 Months Ended

Dec. 31, 2021

Series H Preferred Stock [Member]

Series I Preferred Stock [Member]

The following table represents the components of the Series H Preferred Stock for the years ended and as of December 31, 2021 and 2020:

				Series H Preferred
	Shares			Stock Components
Issuance of Series H Preferred Stock at January 1, 2020		19,399		$	19,399,250
Less issuance costs					(1,353,754	)
Net issuance of Series H Preferred Stock at January 1, 2020					18,045,496
Issuance of Series H Preferred Stock on August 19, 2020:
Issuance of Series H Preferred Stock (as further described below)		108			130,896
Less issuance costs netted from the proceeds					(17,896	)
Net proceeds received upon issuance of Series H Preferred Stock					113,000
Conversion of Series H Preferred Stock into common stock on September 21, 2020		(300	)		(300,000	)
Issuance of Series H Preferred Stock upon conversion of promissory note on November 13, 2020 (as further described below)		389			389,000
Net issuance of Series H Preferred Stock during the year ended December 31, 2020		197			202,000
Series H Preferred Stock at December 31, 2020		19,596		$	18,247,496
Conversion of Series H Preferred Stock:
Conversion of Series H Preferred Stock into common stock on August 17, 2021		(50	)		(50,000	)
Conversion of Series H Preferred Stock into common stock on November 22, 2021		(4,011	)		(4,011,000	)
Conversion of Series H Preferred Stock into common stock on December 21, 2021		(469	)		(469,000	)
Total conversion of Series H Preferred Stock		(4,530	)		(4,530,000	)
Series H Preferred Stock at December 31, 2021		15,066		$	13,717,496

Series J Preferred Stock [Member]

The following table represents the components of the Series I Preferred Stock as of and for the year ended December 31, 2020:

	Shares			Series I Preferred Stock Components
Issuance of Series I Preferred Stock at January 1, 2020		23,100		$	23,100,000
Less costs recognized upon issuance:
Issuance costs incurred upon issuance					(1,459,858	)
Liquidated Damages recognized upon issuance					(1,940,400	)
Total issuance costs and Liquidated Damages					(3,400,258	)
Net issuance of Series I Preferred Stock at January 1, 2020		23,100			19,699,742
Conversion of Series I Preferred Stock into common stock on December 18, 2020 (as further described below)		(23,100	)		(19,699,742	)
Series I Preferred Stock at December 31, 2020		-		$	-

Series K Preferred Stock [Member]

The following table represents the components of the Series J Preferred Stock for the years ended and as of December 31, 2020:

				Series J Preferred
	Shares			Stock Components
Issuance of Series J Preferred Stock at January 1, 2020		20,000		$	20,000,000
Less costs recognized upon issuance:
Issuance costs incurred upon issuance					(580,004	)
Liquidated Damages recognized upon issuance					(1,680,000	)
Total issuance costs and Liquidated Damages					(2,260,004	)
Net issuance of Series J Preferred Stock at January 1, 2020					17,739,996
Issuance of Series J Preferred Stock on September 4, 2020		10,500			6,000,000
Net Issuance of Series J Preferred Stock prior to conversion on December 18, 2020		30,500			23,739,996
Conversion of Series J Preferred Stock into common stock on December 18, 2020 (as further described below)		(30,500	)		(23,739,996	)
Series I Preferred Stock at December 31, 2020		-		$	-

Summary of Platform Development Costs

The following table represents the components of the Series K Preferred Stock as of and for the year ended December 31, 2020:

				Series K Preferred
	Shares			Stock Components
Issuance of Series K Preferred Stock:
Issuance of Series K Preferred Stock on October 23, 2020		6,750		$	6,750,000
Issuance of Series K Preferred Stock on October 28, 2020		5,292			5,292,000
Issuance of Series K Preferred Stock on November 11, 2020		6,000			6,000,000
Total issuance of Series K Preferred Stock		18,042			18,042,000
Less issuance costs:
Cash paid to B. Riley FBR as placement fee					(440,500	)
Legal fees and other costs					(120,000	)
Total issuance costs					(560,500	)
Net issuance of Series K Preferred Stock prior to conversion on December 18, 2020		18,042			17,481,500
Conversion of Series K Preferred Stock to common stock on December 18, 2020 (as further described below)		(18,042	)		(17,481,500	)
Series K Preferred Stock at December 31, 2020		-		$	-

Pension Plans

12 Months Ended

Dec. 31, 2021

Pension Plans

Pension Plans

23.

Liquidated Damages

	Registration Rights Damages		Public Information Failure Damages		Accrued Interest		Balance
	Years Ended December 31, 2021
	Registration Rights Damages		Public Information Failure Damages		Accrued Interest		Balance
Series H Preferred Stock	$	-	$	7,854	$	311,348	$	319,202
12% Convertible Debentures		-		-		75,461		75,461
Series I Preferred Stock		-		-		280,692		280,692
Series J Preferred Stock		360,000		360,000		289,775		1,009,775
Series K Preferred Stock		180,420		721,680		50,134		952,234
Total	$	540,420	$	1,089,534	$	1,007,410	$	2,637,364

	Registration Rights Damages		Public Information Failure Damages		Accrued interest		Balance
	Years Ended December 31, 2020
	Registration Rights Damages		Public Information Failure Damages		Accrued interest		Balance
12% Convertible Debentures	$	-	$	12,300	$	1,578	$	13,878
Series I Preferred Stock		277,200		346,500		69,992		693,692
Series J Preferred Stock		360,000		360,000		60,007		780,007
Total	$	637,200	$	718,800	$	131,577	$	1,487,577

24.

Income Taxes

The components of the benefit (provision) for income taxes consist of the following:

Schedule of Income Taxes

	2021			2020
	Years Ended December 31,
	2021			2020
Current tax benefit:
Federal	$	-		$	-
State and local		-			-
Total current tax benefit		-			-
Deferred tax (provision) benefit:
Federal		18,028,497			20,677,960
State and local		4,439,909			5,279,879
Change in valuation allowance		(20,793,972	)		(26,168,671	)
Total deferred tax (provision) benefit		1,674,434			(210,832	)
Total income tax benefit (provision)	$	1,674,434		$	(210,832	)

The components of deferred tax assets and liabilities were as follows:

	2021			2020
	As of December 31,
	2021			2020
Deferred tax assets:
Net operating loss carryforwards	$	41,806,276		$	35,535,941
Interest limitation carryforward		2,860,899			-
Tax credit carryforwards		263,873			263,873
Allowance for doubtful accounts		589,585			458,506
Accrued expenses and other		1,767,649			677,909
Lease termination		1,896,991			-
Liquidated damages		2,240,294			1,549,313
Unearned revenue		5,383,337			2,356,111
Stock-based compensation		4,779,191			2,158,080
Operating lease liability		165,065			691,228
Depreciation and amortization		3,029,171			4,341,983
Deferred tax assets		64,782,331			48,032,944
Valuation allowance		(50,447,389	)		(29,653,417	)
Total deferred tax assets		14,334,942			18,379,527
Deferred tax liabilities:
Prepaid expenses		(101,388	)		(144,704	)
Acquisition-related intangibles		(14,595,672	)		(18,445,655	)
Total deferred tax liabilities		(14,697,060	)		(18,590,359	)
Net deferred tax liabilities	$	(362,118	)	$	(210,832	)

The Company must make judgements as to the realization of deferred tax assets that are dependent upon a variety of factors, including the generation of future taxable income, the reversal of deferred tax liabilities, and tax planning strategies. To the extent that the Company believes that recovery is not likely, it must establish a valuation allowance. A valuation allowance has been established for deferred tax assets which the Company does not believe meet the “more likely than not” criteria. The Company’s judgments regarding future taxable income may change due to changes in market conditions, changes in tax laws, tax planning strategies or other factors. If the Company’s assumptions and consequently its estimates change in the future, the valuation allowances it has established may be increased or decreased, resulting in a respective increase or decrease in income tax expense. Based upon the Company’s historical operating losses and the uncertainty of future taxable income, the Company has provided a valuation allowance primarily against its deferred tax assets up to the deferred tax liabilities, except for deferred tax liabilities on indefinite lived intangible assets, as of December 31, 2021 and 2020.

As of December 31, 2021, the Company had federal, state, and local net operating loss carryforwards available of approximately $155.85 million, $112.22 million, and $37.42 million, respectively, to offset future taxable income. Net operating losses for U.S. federal tax purposes of $129.95 million do not expire (limited to 80% of taxable income in a given year) and $25.90 million will expire, if not utilized, through 2037 in various amounts. As of December 31, 2020, the Company had federal, state, and local net operating loss carryforwards available of approximately $131.17 million, $100.61 million, and $31.15 million, respectively, to offset future taxable income.

Sections 382 and 383 of the Internal Revenue Code imposes restrictions on the use of a corporation’s net operating losses, as well as certain recognized built-in losses and other carryforwards, after an ownership change occurs. A section 382 ownership change occurs if one or more stockholders or groups of stockholders who own at least 5% of the Company’s common stock increase their ownership by more than 50 percentage points over their lowest ownership percentage within a rolling three-year period. Future issuances or sales of the Company’s common stock (including certain transactions involving the Company’s common stock that are outside of the Company’s control) could also result in an ownership change under section 382. If an ownership change occurs, Section 382 would impose an annual limit on the amount of pre-change net operating losses and other losses the Company can use to reduce its taxable income generally equal to the product of the total value of the Company’s outstanding equity immediately prior to the ownership change (subject to certain adjustments) and the long-term tax exempt interest rate for the month of the ownership change.

The Company believes that it did have a change in control under these sections in connection with its recapitalization on November 4, 2016 and utilization of the carryforwards would be limited such that the majority of the carryforwards will never be available. Accordingly, the Company has not recorded those net operating loss carryforwards and credit carryforwards in its deferred tax assets. The Company completed a preliminary section 382 analysis as of December 31, 2021 and 2020 and concluded it may have experienced an ownership change as a result of certain equity offerings during the rolling three-year period of 2018 to 2020. The Company concluded that its federal net operating loss carryforwards, including any net operating loss carryforwards as a result of the mergers during 2018 and 2019, resulted in annual limitations on the overall net operating loss carryforward and that an ownership change, if any, would impose an annual limit on the net operating loss carryforwards and could cause federal income taxes (similar provisions apply for state and local income taxes) to be paid earlier than otherwise would be paid if such limitations were not in effect. The federal, state, and local net operating loss carryforwards are stated net of any such anticipated limitations as of December 31, 2021 and 2020.

	Years Ended December 31,
	2021						2020
	Amount			Percent			Amount			Percent
Federal benefit expected at statutory rate	$	(19,238,957	)		21.0	%	$	(18,694,437	)		21.0	%
State and local taxes, net of federal benefit		(4,439,909	)		4.8	%		(5,279,879	)		5.9	%
Stock-based compensation		4,881,640			(5.3	)%		1,768,735			(2.0	)%
Unearned revenue		(2,703,394	)		3.0	%		(5,120,330	)		5.8	%
Interest expense		63,558			(0.1	)%		1,173,535			(1.3	)%
Gain upon debt extinguishment		(1,200,506	)		1.3	%		-			0.0	%
Other differences, net		213,159			(0.2	)%		152,294			(0.2	)%
Valuation allowance		20,793,972			(22.7	)%		26,168,671			(29.4	)%
Other permanent differences		(43,988	)		0.0	%		42,243			0.0	%
Tax provision (benefit) and effective income tax rate	$	(1,674,434	)		1.8	%	$	210,832			(0.2	)%

The Company recognizes the tax benefit from uncertain tax positions only if it is “more likely than not” that the tax positions will be sustained on examination by the tax authorities, based on the technical merits of the position. The tax benefit is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company recognizes interest and penalties related to income tax matters in income tax expense. The Company is also required to assess at each reporting date whether it is reasonably possible that any significant increases or decreases to its unrecognized tax benefits will occur during the next 12 months.

The Company did not recognize any uncertain tax positions or any accrued interest and penalties associated with uncertain tax positions for the years ended December 31, 2021 and 2020. The Company files tax returns in the U.S. federal jurisdiction and several state jurisdictions, including New York and California. The Company is generally subject to examination by income tax authorities for three years from the filing of a tax return, therefore, the federal and certain state returns from 2017 forward and the California returns from 2016 forward are subject to examination. The Company currently is not under examination by any tax authority.

25.

Pension Plans

The Company has a qualified 401(k) defined contribution plan that allows eligible employees of the Company to participate in the plan, subject to limitations. The plan allows for discretionary matching contributions by the Company, up to 4% of eligible annual compensation made by participants of the plan. The Company contributions to the plan were $1,347,348 and $1,074,323 for the years ended December 31, 2021 and 2020, respectively.

Schedule of Tax Benefit and Effective Income Tax (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Pension Plans
Federal benefit expected at statutory rate	$ (19,238,957)	$ (18,694,437)
Federal benefit expected at statutory rate, percentage	21.00%	21.00%
State and local taxes, net of federal benefit	$ (4,439,909)	$ (5,279,879)
State and local taxes, net of federal benefit, percentage	4.80%	5.90%
Stock-based compensation	$ 4,881,640	$ 1,768,735
Stock based compensation, percentage	(5.30%)	(2.00%)
Unearned revenue	$ (2,703,394)	$ (5,120,330)
Unearned revenue, percentage	3.00%	5.80%
Interest expense	$ 63,558	$ 1,173,535
Interest expense, percentage	(0.10%)	(1.30%)
Gain upon debt extinguishment	$ (1,200,506)
Gain upon debt extinguishment, Percentage	130.00%	0.00%
Other differences, net	$ 213,159	$ 152,294
Other differences, net, percentage	(0.20%)	(0.20%)
Valuation allowance	$ 20,793,972	$ 26,168,671
Valuation allowance, percentage	(22.70%)	(29.40%)
Other permanent differences	$ (43,988)	$ 42,243
Other permanent differences, percentage	0.00%	0.00%
Tax provision (benefit) and effective income tax rate	$ (1,674,434)	$ 210,832	$ 210,832
Tax provision (benefit) and effective income tax rate, percentage		(0.20%)

Schedule of Common Stock Financing Warrants Outstanding and Exercisable (Details)	12 Months Ended
	Dec. 31, 2021 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Exercisable Financing Warrants (Shares)	116,118
Strome Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Financing Warrants Exercise Price \| $ / shares	$ 11.00
Financing Warrants Expiration Date	Jun. 15, 2023
Total Exercisable Financing Warrants (Shares)	68,182
B. Riley Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Financing Warrants Exercise Price \| $ / shares	$ 7.26
Financing Warrants Expiration Date	Oct. 18, 2025
Total Exercisable Financing Warrants (Shares)	39,773
MDB Warrants One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Financing Warrants Exercise Price \| $ / shares	$ 25.30
Financing Warrants Expiration Date	Oct. 19, 2022
Total Exercisable Financing Warrants (Shares)	5,435
MDB Warrants Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Financing Warrants Exercise Price \| $ / shares	$ 55.00
Financing Warrants Expiration Date	Oct. 19, 2022
Total Exercisable Financing Warrants (Shares)	2,728

Summary of Interest Expense (Details) - USD ($)	12 Months Ended
Summary of Interest Expense (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Short-term Debt [Line Items]
Amortization of debt discounts	$ 2,105,536	$ 6,607,212
Total accrued and noncash converted interest	6,956,182	9,244,324
Total cash paid interest expense	1,392,900	645,681
Total interest expense	10,454,618	16,497,217
12% Convertible Debentures [Member]
Short-term Debt [Line Items]
Amortization of debt discounts		3,880,609
Total accrued and noncash converted interest		2,116,281
12% Second Amended Senior Secured Note [Member]
Short-term Debt [Line Items]
Amortization of debt discounts	1,805,222	2,171,910
Total accrued and noncash converted interest	6,394,662	6,374,746
Delayed Draw Term Note [Member]
Short-term Debt [Line Items]
Amortization of debt discounts	300,314	554,693
Total accrued and noncash converted interest	547,548	747,453
Payroll Protection Program Loan Member [Member]
Short-term Debt [Line Items]
Total accrued and noncash converted interest	13,972
Promissory Note [Member]
Short-term Debt [Line Items]
Total accrued and noncash converted interest		$ 5,844

Platform Development (Tables)

12 Months Ended

Dec. 31, 2021

Platform Development

Platform development costs are summarized as follows:

Summary of Platform Development Costs


	As of December 31,
	2021			2020
Platform development	$	21,997,102		$	16,027,428
Less accumulated amortization		(12,698,307	)		(8,671,820	)
Net platform development	$	9,298,795		$	7,355,608

Summary of Platform Development Cost Activity

A summary of platform development activity is as follows:

	As of and for the Years Ended December 31,
	2021			2020
Platform development beginning of year	$	16,027,428		$	10,678,692
Payroll-based costs capitalized during the year		4,818,866			3,750,541
Total capitalized costs		20,846,294			14,429,233
Stock-based compensation		2,045,264			1,608,995
Dispositions during the year		(894,456	)		(10,800	)
Platform development end of year	$	21,997,102		$	16,027,428

Schedule of Property and Equipment (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Gross property and equipment costs	$ 1,345,537	$ 1,706,805
Less accumulated depreciation and amortization	(709,769)	(577,367)
Net property and equipment	635,768	1,129,438
Office Equipment And Computers [Member]
Property, Plant and Equipment [Line Items]
Gross property and equipment costs	1,344,532	1,341,292
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Gross property and equipment costs	1,005	19,997
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Gross property and equipment costs		$ 345,516

Platform Development (Details Narrative) - USD ($)	12 Months Ended
Platform Development (Details Narrative) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Platform Development
Amortization expense platform development	$ 4,485,384	$ 3,890,966

Consolidated Statements of Operations (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Amortization cost of developed technology and platform development	$ 8,829,025	$ 8,550,952

Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

9. Intangible Assets

Intangible assets subject to amortization consisted of the following:

	Weighted Average	As of December 31, 2021							As of December 31, 2020
	Useful Life (in years)	Carrying Amount		Accumulated Amortization			Net Carrying Amount		Carrying Amount		Accumulated Amortization			Net Carrying Amount
Developed technology	4.80	$	17,579,477	$	(11,465,869	)	$	6,113,608	$	19,070,857	$	(8,283,740	)	$	10,787,117
Noncompete agreement	-		480,000		(480,000	)		-		480,000		(480,000	)		-
Trade name	11.95		3,328,000		(781,942	)		2,546,058		3,328,000		(503,342	)		2,824,658
Brand name	10.00		5,175,136		(297,584	)		4,877,552		-		-			-
Subscriber relationships	5.06		73,458,799		(32,622,245	)		40,836,554		73,458,799		(18,105,041	)		55,353,758
Advertiser relationships	9.42		2,240,000		(570,391	)		1,669,609		2,240,000		(332,515	)		1,907,485
Database	3.70		2,396,887		(1,103,771	)		1,293,116		1,140,000		(531,183	)		608,817
Subtotal amortizable intangible assets			104,658,299		(47,321,802	)		57,336,497		99,717,656		(28,235,821	)		71,481,835
Website domain name	-		20,000		-			20,000		20,000		-			20,000
Total intangible assets		$	104,678,299	$	(47,321,802	)	$	57,356,497	$	99,737,656	$	(28,235,821	)	$	71,501,835

Developed technology, noncompete agreement, trade name, subscriber relationships, advertiser relationships, and database intangible assets subject to amortization were recorded as part of the Company’s business acquisitions. The website domain name has an infinite life and is not being amortized. Amortization expense for the years ended December 31, 2021 and 2020 was $20,247,493 and $20,301,665, respectively. Amortization expense for developed technology and platform development of $4,343,641 and $4,659,986 for the years ended December 31, 2021 and 2020, respectively, are included within cost of revenues on the consolidated statements of operations. No impairment charges have been recorded during the years ended December 31, 2021 and 2020.

Estimated total amortization expense for the next five years and thereafter related to the Company’s intangible assets subject to amortization as of December 31, 2021 is as follows:

Years Ending December 31,
2022	$	19,862,367
2023		18,396,551
2024		12,141,759
2025		1,139,834
2026		1,139,834
Thereafter		4,656,152
Intangible assets, net	$	57,336,497

Preferred Stock

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Preferred Stock

20. Preferred Stock

The Company has the authority to issue 1,000,000 shares of preferred stock, $0.01 par value per share, consisting of authorized and/or outstanding shares as of December 31, 2021 as follows:

	●	2,000 authorized shares were designated as “Series F Convertible Preferred Stock”, none of which were outstanding. The Series F Convertible Preferred Stock was eliminated on September 7, 2021.

	●	1,800 authorized shares designated as “Series G Convertible Preferred Stock” (as further described below), of which 168,496 shares are outstanding.

	●	23,000 authorized shares designated as “Series H Convertible Preferred Stock” (as further described below), of which 15,066 shares are outstanding.

	●	25,800 authorized shares were designated as “Series I Convertible Preferred Stock” on June 27, 2019, none of which were outstanding (as further described below). The Series I Convertible Preferred Stock was eliminated on September 7, 2021.

	●	35,000 authorized shares were designated as “Series J Convertible Preferred Stock” on October 4, 2019, none of which were outstanding (as further described below). The Series J Convertible Preferred Stock was eliminated on September 7, 2021.

	●	20,000 authorized shares were designated as “Series K Convertible Preferred Stock” on October 22, 2020, none of which were outstanding (as further described below). The Series K Convertible Preferred Stock was eliminated on September 7, 2021.

Series G Preferred Stock

On May 30, 2000, the Company sold 1,800 shares of its Series G Convertible Preferred Stock (the “Series G Preferred Stock”), of which 1,631.504 were converted prior to November 2001 and 168.496 shares continue to be outstanding, at a stated value of $1,000 per share, convertible into 8,582 shares of the Company’s common stock. The Series G Preferred Stock is convertible into shares of common stock, at the option of the holder, subject to certain limitations. The Company may require holders to convert all (but not less than all) of the Series G Preferred Stock or buy out all outstanding shares of Series G Preferred Stock at the liquidation value of $168,496. Holders of Series G Preferred Stock are not entitled to dividends and have no voting rights, unless required by law or with respect to certain matters relating to the Series G Preferred Stock.

Upon a change in control, sale of or similar transaction, as defined in the Certificate of Designation for the Series G Preferred Stock, the holder of the Series G Preferred Stock has the option to deem such transaction as a liquidation and may redeem their 168.496 shares at the liquidation value of $1,000 per share, or an aggregate amount of $168,496. The sale of all the assets of the Company on June 28, 2007 triggered the redemption option. As such redemption was not in the control of the Company, the Series G Preferred Stock has been accounted for as if it is redeemable preferred stock and is classified on the consolidated balance sheets as a mezzanine obligation between liabilities and stockholders’ deficiency.

Series H Preferred Stock

On August 10, 2018 (the “Closing Date”), the Company closed on a securities purchase agreement with certain accredited investors, pursuant to which the Company issued an aggregate of 19,399 shares of Series H Convertible Preferred Stock (the “Series H Preferred Stock”) at a stated value of $1,000, initially convertible into 2,672,176 shares of the Company’s common stock, at the option of the holder subject to certain limitations, at a conversion rate equal to the stated value divided by the conversion price of $7.26 per share, for aggregate gross proceeds of $19,399,250 (net proceeds of $18,045,496 after taking into consideration issuance costs or $1,353,754).

Between August 14, 2020 and August 20, 2020, the Company entered into additional securities purchase agreements for the sale of Series H Preferred Stock with accredited investors, pursuant to which the Company issued 108 shares (after it rescinded the issuance of 2,145 shares that were deemed null and void and repaid to certain holders on October 28, 2020), at a stated value of $1,000 per share, initially convertible into 14,877 shares of the Company’s common stock at a conversion rate equal to the stated value divided by the conversion price of $7.26 per share, for aggregate gross proceeds of $130,896 (net proceeds of $113,000 after taking into consideration issuance costs), which was used for working capital and general corporate purposes.

On October 31, 2020, the Company issued 389 shares of Series H Preferred Stock to James Heckman at the stated value of $1,000, convertible into 53,582 shares of the Company’s common stock, at the option of the holder subject to certain limitations at a conversion rate equal to the stated value divided by the conversion price of $7.26 per share. The shares of Series H Preferred Stock were issued in connection with the cancellation of promissory notes payable to Mr. Heckman in the aggregate outstanding principal amount of $389,000.

The number of shares issuable upon conversion of the Series H Preferred Stock will be adjusted in the event of stock splits, stock dividends, combinations of shares and similar transactions. Each Series H Preferred Stock votes on an as-if-converted to common stock basis, subject to beneficial ownership blocker provisions and other certain conditions. In addition, if at any time the Company grants, issues or sells any common stock equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any class of shares of common stock (the “Purchase Rights”), then a holder of the Series H Preferred Stock will be entitled to acquire the aggregate Purchase Rights which the holder could have acquired if the holder had held the number of shares of common stock acquirable upon complete conversion of such holder’s Series H Preferred Stock immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, subject to certain conditions, adjustments, and limitations. All the shares of Series H Preferred Stock automatically convert into shares of the Company’s common stock on the fifth anniversary of the Closing Date at the conversion price of $7.26 per share.

The shares of Series H Preferred Stock were subject to limitations on conversion into shares of the Company’s common stock until the date that increased the number of authorized shares of its common stock to at least a number permitting all the Series H Preferred Stock to be converted in full, which was filed on December 18, 2020, therefore this limitation was removed (as further described in Note 21).

Pursuant to the registration rights agreement entered into on August 10, 2018, in connection with the securities purchase agreements, the Company agreed to register the shares issuable upon conversion of the Series H Preferred Stock for resale by the holders. The Company committed to file the registration statement by no later than 75 days after the closing date and to cause the registration statement to become effective, in general, by no later than 120 days after the closing date (or, in the event of a full review by the staff of the SEC, 150 days following the closing date). The registration rights agreement provides for a cash payment equal to 1.0% per month of the amount invested as partial liquidated damages, on each monthly anniversary, payable within 7 days of such event, and upon the occurrence of certain events up to a maximum amount of 6.0% of the aggregate amount invested, subject to interest at 12.0% per annum, accruing daily, until paid in full. The registration rights agreements provide for Registration Rights Damages (further details are provided in Note 15).

The securities purchase agreements entered into on August 10, 2018, included a provision that requires the Company to maintain its periodic filings with the SEC in order to satisfy the public information requirements under Rule 144(c) of the Securities Act. If the Company fails for any reason to satisfy the current public information requirement after 6 months of the closing date, then the Company will be obligated to pay to each holder a cash payment equal to 1.0% of the aggregate amount invested for each 30-day period, or pro rata portion thereof, as partial liquidated damages per month, up to a maximum of 6 months, subject to interest at the rate of 1.0% per month until paid in full. The securities purchase agreements provide for Public Information Failure Damages (further details are provided in Note 15).

The following table represents the components of the Series H Preferred Stock for the years ended and as of December 31, 2021 and 2020:

				Series H Preferred
	Shares			Stock Components
Issuance of Series H Preferred Stock at January 1, 2020		19,399		$	19,399,250
Less issuance costs					(1,353,754	)
Net issuance of Series H Preferred Stock at January 1, 2020					18,045,496
Issuance of Series H Preferred Stock on August 19, 2020:
Issuance of Series H Preferred Stock (as further described below)		108			130,896
Less issuance costs netted from the proceeds					(17,896	)
Net proceeds received upon issuance of Series H Preferred Stock					113,000
Conversion of Series H Preferred Stock into common stock on September 21, 2020		(300	)		(300,000	)
Issuance of Series H Preferred Stock upon conversion of promissory note on November 13, 2020 (as further described below)		389			389,000
Net issuance of Series H Preferred Stock during the year ended December 31, 2020		197			202,000
Series H Preferred Stock at December 31, 2020		19,596		$	18,247,496
Conversion of Series H Preferred Stock:
Conversion of Series H Preferred Stock into common stock on August 17, 2021		(50	)		(50,000	)
Conversion of Series H Preferred Stock into common stock on November 22, 2021		(4,011	)		(4,011,000	)
Conversion of Series H Preferred Stock into common stock on December 21, 2021		(469	)		(469,000	)
Total conversion of Series H Preferred Stock		(4,530	)		(4,530,000	)
Series H Preferred Stock at December 31, 2021		15,066		$	13,717,496

During the year ended December 31, 2020, in connection with the issuance of 108 shares (issued on August 19, 2020) and 389 shares (issued on October 31, 2020) of Series H Preferred Stock, the Company recognized a beneficial conversion feature of $113,000 and $389,000 (totaling $502,000), respectively, for the underlying common shares since the nondetachable conversion feature was in-the-money (the conversion price of $7.26 was lower than the Company’s common stock trading price of $18.92 and $16.94 at the issuance date of August 19, 2020 and October 31, 2020, respectively). The beneficial conversion feature was recognized as a deemed dividend with an offset to additional paid-in capital.

The Company recorded the issuance of shares of the Company’s common stock upon conversion of the Series H Preferred Stock of 624,111 and 41,323 during the years ended December 31, 2021 and 2020, respectively, on the consolidated statements of stockholders’ deficiency.

Series I Preferred Stock

On June 28, 2019, the Company closed on a securities purchase agreement with certain accredited investors, pursuant to which the Company issued an aggregate of 23,100 shares of Series I Convertible Preferred Stock (the “Series I Preferred Stock”) at a stated value of $1,000, initially convertible into 2,100,000 shares of the Company’s common stock at a conversion rate equal to the stated value divided by the conversion price of $11.00 per share, for aggregate gross proceeds of $23,100,000 (net proceeds of $19,699,742 after taking into consideration issuance costs of $1,459,858 and Liquidated Damages recognized upon issuance of $1,940,400). Each Series I Preferred Stock votes on an as-if-converted to common stock basis, subject to certain conditions.

Pursuant to the registration rights agreements entered into in connection with the securities purchase agreements on June 28, 2019, the Company agreed to register the shares issuable upon conversion of the Series I Preferred Stock for resale by the investors. The Company committed to file the registration statement no later than the 30th calendar day following the date the Company files (i) its Annual Report on Form 10-K for the fiscal year ended December 31, 2018, (ii) all its required quarterly reports on Form 10-Q since the quarter ended September 30, 2018 through September 30, 2019, and (iii) current Form 8-K in connection with the acquisitions of TheStreet and its license with ABG, with the SEC, but in no event later than December 1, 2019. The Company committed to cause the registration statement to become effective by no later than 90 days after December 1, 2019, subject to certain conditions and upon the occurrence of certain events up to a maximum amount of 6% of the aggregate amount invested. The registration rights agreements provide for Registration Rights Damages (further details are provided in Note 15).

The securities purchase agreements included a provision that requires the Company to maintain its periodic filings with the SEC in order to satisfy the public information requirements under Rule 144(c) of the Securities Act. If the Company fails for any reason to satisfy the current public information requirement after 6 months of the closing date, then the Company will be obligated to pay to each holder a cash payment equal to 1.0% of the aggregate amount invested for each 30-day period, or pro rata portion thereof, as partial liquidated damages per month, up to a maximum of 6 months, subject to interest at the rate of 1.0% per month until paid in full. The securities purchase agreements provide for Public Information Failure Damages (further details are provided in Note 15).

The Company recognized a portion of the Liquidated Damages pursuant to the registration rights and securities purchase agreements in connection with the Series I Preferred Stock at the time of issuance as it was deemed probable the obligations would not be satisfied when the financing was completed (further details are presented in the table below).

The following table represents the components of the Series I Preferred Stock as of and for the year ended December 31, 2020:

	Shares			Series I Preferred Stock Components
Issuance of Series I Preferred Stock at January 1, 2020		23,100		$	23,100,000
Less costs recognized upon issuance:
Issuance costs incurred upon issuance					(1,459,858	)
Liquidated Damages recognized upon issuance					(1,940,400	)
Total issuance costs and Liquidated Damages					(3,400,258	)
Net issuance of Series I Preferred Stock at January 1, 2020		23,100			19,699,742
Conversion of Series I Preferred Stock into common stock on December 18, 2020 (as further described below)		(23,100	)		(19,699,742	)
Series I Preferred Stock at December 31, 2020		-		$	-

All the shares of Series I Preferred Stock converted automatically into shares of the Company’s common stock on December 18, 2020, as a result of the increase in the number of authorized shares of the Company’s common stock (as further described in Note 21). Upon conversion the Company recognized a beneficial conversion feature of $5,082,000 for the underlying common shares since the nondetachable conversion feature was in-the-money (the conversion price of $11.00 was lower than the Company’s common stock trading price of $13.42 at the conversion date). The beneficial conversion feature was recognized as a deemed dividend with an offset to additional paid-in capital.

The Company recorded the issuance of shares of the Company’s common stock upon conversion of the Series I Preferred Stock of 2,100,000 during the year ended December 31, 2020 on the consolidated statements of stockholders’ deficiency.

Series J Preferred Stock

On October 7, 2019, the Company closed on a securities purchase agreement with certain accredited investors, pursuant to which the Company issued an aggregate of 20,000 shares of Series J Convertible Preferred Stock (the “Series J Preferred Stock”) at a stated value of $1,000, initially convertible into 1,299,091 shares of the Company’s common stock at a conversion rate equal to the stated value divided by the conversion price of $15.40 per share, for aggregate gross proceeds of $20,000,000 (net proceeds of $17,739,996 after taking into consideration issuance costs of $580,004 and Liquidated Damages recognized upon issuance of $1,680,000).

Pursuant to the registration rights agreements entered into in connection with the securities purchase agreements on October 7, 2019, the Company agreed to register the shares issuable upon conversion of the Series J Preferred Stock for resale by the investors. The Company committed to file the registration statement no later than the 30th calendar day following the date the Company files (i) its Annual Report on Form 10-K for the fiscal year ended December 31, 2018, (ii) all its required quarterly reports on Form 10-Q since the quarter ended September 30, 2018 through September 30, 2019, and (iii) current Form 8-K in connection with the acquisition of TheStreet, and other acquisitions during 2018, and its license with ABG, with the SEC, but in no event later than March 31, 2020. The Company committed to cause the registration statement to become effective by no later than 90 days after March 31, 2020, subject to certain conditions and upon the occurrence of certain events up to a maximum amount of 6% of the aggregate amount invested. The registration rights agreements provide for Registration Rights Damages (further details are provided in Note 15).

The Company recognized a portion of the Liquidated Damages pursuant to the registration rights and securities purchase agreements in connection with the Series J Preferred Stock at the time of issuance as it was deemed probable the obligations would not be satisfied when the financing was completed (further details are presented in the table below).

On September 4, 2020, the Company closed on securities purchase agreements with two accredited investors, pursuant to which the Company issued an aggregate of 10,500 shares of Series J Preferred Stock at a stated value of $1,000 per share, initially convertible into 682,023 shares of the Company’s common stock at a conversion rate equal to the stated value divided by the conversion price of $15.40, for aggregate gross proceeds of $6,000,000, which was used for working capital and general corporate purposes.

Pursuant to a registration rights agreement entered into in connection with the securities purchase agreements on September 4, 2020, the Company agreed to register the shares issuable upon conversion of the Series J Preferred Stock for resale by the investors. The Company committed to file the registration statement by no later than the 30th calendar day following the date the Company files its (a) Annual Reports on Form 10-K for the fiscal year ended December 31, 2018 and December 31, 2019, (b) all its required Quarterly Reports on Form 10-Q since the quarter ended September 30, 2018, through the quarter ended September 30, 2020, and (c) any Form 8-K Reports that the Company is required to file with the SEC; but in no event later than April 30, 2021 (the “Filing Date”). The Company also committed to cause the registration statement to become effective by no later than 60 days after the Filing Date (or, in the event of a full review by the staff of the SEC, 120 days following the Filing Date) and upon the occurrence of certain events up to a maximum amount of 6% of the aggregate amount invested. The registration rights agreements provide for Registration Rights Damages (further details are provided in Note 15).

The number of shares issuable upon conversion of the Series J Preferred Stock will be adjusted in the event of stock splits, stock dividends, combinations of shares and similar transactions. Each share of Series J Convertible Preferred Stock votes on an as-if-converted to common stock basis, subject to certain conditions.

The following table represents the components of the Series J Preferred Stock for the years ended and as of December 31, 2020:

				Series J Preferred
	Shares			Stock Components
Issuance of Series J Preferred Stock at January 1, 2020		20,000		$	20,000,000
Less costs recognized upon issuance:
Issuance costs incurred upon issuance					(580,004	)
Liquidated Damages recognized upon issuance					(1,680,000	)
Total issuance costs and Liquidated Damages					(2,260,004	)
Net issuance of Series J Preferred Stock at January 1, 2020					17,739,996
Issuance of Series J Preferred Stock on September 4, 2020		10,500			6,000,000
Net Issuance of Series J Preferred Stock prior to conversion on December 18, 2020		30,500			23,739,996
Conversion of Series J Preferred Stock into common stock on December 18, 2020 (as further described below)		(30,500	)		(23,739,996	)
Series I Preferred Stock at December 31, 2020		-		$	-

All the shares of Series J Preferred Stock converted automatically into shares of the Company’s common stock on December 18, 2020, as a result of the increase in the number of authorized shares of the Company’s common stock (as further described in Note 21). Upon conversion the Company recognized a beneficial conversion feature of $586,545 for the underlying common shares since the nondetachable conversion feature was in-the-money (the effective conversion price of $8.80 for the issuance of Series J Preferred Stock on September 4, 2020 (these shares were issued at a discount) was lower than the Company’s common stock trading price of $13.42 at the conversion date). The beneficial conversion feature was recognized as a deemed dividend with an offset to additional paid-in capital.

The Company recorded the issuance of shares of the Company’s common stock upon conversion of the Series J Preferred Stock of 1,981,114 during the year ended December 31, 2020 on the consolidated statements of stockholders’ deficiency.

Series K Preferred Stock

Between October 23, 2020 and November 11, 2020, the Company closed on several securities purchase agreements with accredited investors, pursuant to which the Company issued an aggregate of 18,042 shares of Series K Convertible Preferred Stock” (the “Series K Preferred Stock”) at a stated value of $1,000, initially convertible into 2,050,228 shares of the Company’s common stock at a conversion rate equal to the stated value divided by the conversion price of $8.80 per share, for aggregate gross proceeds of $18,042,000. The number of shares issuable upon conversion of the Series K Preferred Stock will be adjusted in the event of stock splits, stock dividends, combinations of shares and similar transactions. Each Series K Preferred Stock votes on an as-if-converted to common stock basis, subject to certain conditions.

In consideration for its services as placement agent, the Company paid B. Riley FBR a cash fee of $560,500. The Company used approximately $3.4 million of the net proceeds from the financing to partially repay the Delayed Draw Term Note and used approximately $2.6 million for payment on a prior investment, with the remainder of approximately $11.5 million for working capital and general corporate purposes.

Pursuant to a registration rights agreement entered into in connection with the securities purchase agreements, the Company agreed to register the shares issuable upon conversion of the Series K Preferred Stock for resale by the investors. The Company committed to file the registration statement by no later than the 30th calendar day following the date the Company files its (a) Annual Reports on Form 10-K for the fiscal year ended December 31, 2018 and December 31, 2019, (b) all its required Quarterly Reports on Form 10-Q since the quarter ended September 30, 2018, through the quarter ended September 30, 2020, and (c) any Form 8-K Reports that the Company is required to file with the SEC; provided, however, if such 30th calendar day is on or after February 12, 2021, then such 30th calendar date shall be tolled until the 30th calendar day following the date that the Company files its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 (the “Filing Date”). The Company also committed to cause the registration statement to become effective by no later than 90 days after the Filing Date (or, in the event of a full review by the staff of the SEC, 120 days following the Filing Date) and upon the occurrence of certain events up to a maximum amount of 6% of the aggregate amount invested. The registration rights agreements provide for Registration Rights Damages (further details are provided in Note 15).

The following table represents the components of the Series K Preferred Stock as of and for the year ended December 31, 2020:

				Series K Preferred
	Shares			Stock Components
Issuance of Series K Preferred Stock:
Issuance of Series K Preferred Stock on October 23, 2020		6,750		$	6,750,000
Issuance of Series K Preferred Stock on October 28, 2020		5,292			5,292,000
Issuance of Series K Preferred Stock on November 11, 2020		6,000			6,000,000
Total issuance of Series K Preferred Stock		18,042			18,042,000
Less issuance costs:
Cash paid to B. Riley FBR as placement fee					(440,500	)
Legal fees and other costs					(120,000	)
Total issuance costs					(560,500	)
Net issuance of Series K Preferred Stock prior to conversion on December 18, 2020		18,042			17,481,500
Conversion of Series K Preferred Stock to common stock on December 18, 2020 (as further described below)		(18,042	)		(17,481,500	)
Series K Preferred Stock at December 31, 2020		-		$	-

All the shares of Series K Preferred Stock converted automatically into shares of the Company’s common stock on December 18, 2020, as a result of the increase in the number of authorized shares of the Company’s common stock (as further described in Note 21). Upon conversion the Company recognized a beneficial conversion feature of $9,472,050 for the underlying common shares since the nondetachable conversion feature was in-the-money (the conversion price of $8.80 was lower than the Company’s common stock trading price of $13.42 at the conversion date). The beneficial conversion feature was recognized as a deemed dividend with an offset to additional paid-in capital.

The Company recorded the issuance of shares of the Company’s common stock upon conversion of the Series K Preferred Stock of 2,050,228 during the year ended December 31, 2020 on the consolidated statements of stockholders’ deficiency.

Series L Preferred Stock

On May 4, 2021, a special committee of the Board declared a dividend of one preferred stock purchase right to be paid to the stockholders of record at the close of business on May 14, 2021 for (i) each outstanding share of the Company’s common stock and (ii) each share of the Company’s common stock issuable upon conversion of each share of the Company’s Series H Preferred Stock. Each preferred stock purchase right entitles the registered holder to purchase, subject to a rights agreement, from the Company one one-thousandth of a share of the Company’s newly created Series L Junior Participating Preferred Stock, par value $0.01 per share (the “Series L Preferred Stock”), at a price of $4.00, subject to certain adjustments. The Series L Preferred Stock will be entitled, when, as and if declared, to a preferential per share quarterly dividend payment equal to the greater of (i) $1.00 per share or (ii) 1,000 times the aggregate per share amount of all cash dividends, and 1,000 times the aggregate per share amount (payable in kind) of all non-cash dividends or other distributions paid to the holders of the Company’s common stock. The Series L Preferred Stock will be entitled to 1,000 votes on all matters submitted to a vote of the stockholders of the Company. In the event of any merger, consolidation or other transaction in which shares of the Company’s common stock are converted or exchanged, the Series L Preferred Stock will be entitled to receive 1,000 times the amount received per one share of the Company’s common stock (further details are provided under the heading Series L Preferred Stock in Note 28).

Goodwill (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Carrying Value of Goodwill

The changes in carrying value of goodwill as follows:

	As of December 31,
	2021		2020
Carrying value at beginning of year	$	16,139,377	$	16,139,377
Goodwill acquired in acquisition of The Spun		3,479,290		-
Carrying value at end of year	$	19,618,667	$	16,139,377

Schedule of Senior Secured Notes and Delayed Draw Term Note (Details) - USD ($)		12 Months Ended
	Mar. 24, 2020	Dec. 31, 2021	Dec. 31, 2020
Short-term Debt [Line Items]
Subtotal principal amount of debt		$ 5,086,135	$ 6,913,865
Add accrued interest		15,075,556	8,133,346
Less principal payment paid in Series J Preferred Stock (net of interest of $146,067)		(4,853,933)	(4,853,933)
Less principal payment paid in Series K Preferred Stock (net of interest of $71,495)		(3,295,505)	(3,295,505)
Less principal payments paid in cash		(17,307,364)	(17,307,364)
Principal amount of debt outstanding including accrued interest		72,618,754	60,590,409
Placement fee to B. Riley FBR		(4,241,387)	(4,241,387)
Commitment fee		(101,723)	(101,723)
Success based fee to B. Riley FBR		(3,400,000)	3,400,000
Success fee		3,400,000	(3,400,000)
Legal and other costs		(608,614)	(1,313,610)
Subtotal debt discount		(8,574,861)	(8,066,247)
Less amortization of debt discount		6,072,921	3,967,385
Unamortized debt discount		(2,501,940)	(4,098,862)
Carrying value at year-end		70,116,814	56,491,547
Delayed Draw Term Note [Member]
Short-term Debt [Line Items]
Subtotal principal amount of debt		12,000,000	6,913,865
Add accrued interest		1,223,506	675,958
Less principal payment paid in Series J Preferred Stock (net of interest of $146,067)
Less principal payment paid in Series K Preferred Stock (net of interest of $71,495)		(3,295,505)	(3,295,505)
Less principal payments paid in cash
Principal amount of debt outstanding including accrued interest		9,928,001	4,294,318
Placement fee to B. Riley FBR		(691,387)	(691,387)
Commitment fee		(101,723)	(101,723)
Success based fee to B. Riley FBR
Success fee
Legal and other costs		(120,755)	(120,755)
Subtotal debt discount		(1,422,479)	(913,865)
Less amortization of debt discount		855,007	554,693
Unamortized debt discount		(567,472)	(359,172)
Carrying value at year-end		9,360,529	3,935,146
10/06/2019 [Member]
Short-term Debt [Line Items]
Subtotal principal amount of debt		20,000,000	20,000,000
10/06/2019 [Member] \| Delayed Draw Term Note [Member]
Short-term Debt [Line Items]
Subtotal principal amount of debt
14/06/2019 [Member]
Short-term Debt [Line Items]
Subtotal principal amount of debt		48,000,000	48,000,000
14/06/2019 [Member] \| Delayed Draw Term Note [Member]
Short-term Debt [Line Items]
Subtotal principal amount of debt
27/08/2019 [Member]
Short-term Debt [Line Items]
Subtotal principal amount of debt		3,000,000	3,000,000
27/08/2019 [Member] \| Delayed Draw Term Note [Member]
Short-term Debt [Line Items]
Subtotal principal amount of debt
March 26, 2020 [Member]
Short-term Debt [Line Items]
Subtotal principal amount of debt		6,913,865	6,913,865
March 26, 2020 [Member] \| Delayed Draw Term Note [Member]
Short-term Debt [Line Items]
Subtotal principal amount of debt		6,913,865	6,913,865
28/12/2021 [Member]
Short-term Debt [Line Items]
Subtotal principal amount of debt		5,086,135
28/12/2021 [Member] \| Delayed Draw Term Note [Member]
Short-term Debt [Line Items]
Subtotal principal amount of debt		5,086,135
Commitment fee		(508,614)
April 6, 2020 [Member]
Short-term Debt [Line Items]
Subtotal principal amount of debt		83,000,000
12% Amended Senior Secured Notes [Member]
Short-term Debt [Line Items]
Subtotal principal amount of debt		71,000,000	71,000,000
Add accrued interest		13,852,050	7,457,388
Less principal payment paid in Series J Preferred Stock (net of interest of $146,067)		(4,853,933)	(4,853,933)
Less principal payment paid in Series K Preferred Stock (net of interest of $71,495)
Less principal payments paid in cash		(17,307,364)	(17,307,364)
Principal amount of debt outstanding including accrued interest		62,690,753	56,296,091
Placement fee to B. Riley FBR		(3,550,000)	(3,550,000)
Commitment fee
Success based fee to B. Riley FBR		(3,400,000)	(3,400,000)
Success fee		3,400,000	3,400,000
Legal and other costs		(202,382)	(202,382)
Subtotal debt discount		(7,152,382)	(7,152,382)
Less amortization of debt discount		5,217,914	3,412,692
Unamortized debt discount		(1,934,468)	(3,739,690)
Carrying value at year-end		60,756,285	52,556,401
12% Amended Senior Secured Notes [Member] \| Delayed Draw Term Note [Member]
Short-term Debt [Line Items]
Subtotal principal amount of debt	$ 12,000,000
Legal and other costs	$ (793,109)
12% Amended Senior Secured Notes [Member] \| 10/06/2019 [Member]
Short-term Debt [Line Items]
Subtotal principal amount of debt		20,000,000	20,000,000
12% Amended Senior Secured Notes [Member] \| 14/06/2019 [Member]
Short-term Debt [Line Items]
Subtotal principal amount of debt		48,000,000	48,000,000
12% Amended Senior Secured Notes [Member] \| 27/08/2019 [Member]
Short-term Debt [Line Items]
Subtotal principal amount of debt		3,000,000	3,000,000
12% Amended Senior Secured Notes [Member] \| March 26, 2020 [Member]
Short-term Debt [Line Items]
Subtotal principal amount of debt
12% Amended Senior Secured Notes [Member] \| 28/12/2021 [Member]
Short-term Debt [Line Items]
Subtotal principal amount of debt
Commitment fee

Schedule of Other long-term liabilities (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Other Long-term Liabilities
Lease termination liability	$ 6,928,053	$ 541,381
Deferred cash payment liabilities	410,037
Other	218,175	211,984
Other long-term liabilities	$ 7,556,265	$ 753,365

Schedule of Fair Value of Financial Instruments (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total, warrant derivative liabilities		$ 1,147,895
Strome Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total, warrant derivative liabilities		704,707
B. Riley Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total, warrant derivative liabilities		443,188
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant derivative liabilities fair value
Fair Value, Inputs, Level 1 [Member] \| Strome Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant derivative liabilities fair value
Fair Value, Inputs, Level 1 [Member] \| B. Riley Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant derivative liabilities fair value
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant derivative liabilities fair value
Fair Value, Inputs, Level 2 [Member] \| Strome Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant derivative liabilities fair value
Fair Value, Inputs, Level 2 [Member] \| B. Riley Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant derivative liabilities fair value
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant derivative liabilities fair value		1,147,895
Fair Value, Inputs, Level 3 [Member] \| Strome Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant derivative liabilities fair value		704,707
Fair Value, Inputs, Level 3 [Member] \| B. Riley Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant derivative liabilities fair value		443,188
12% Amended Senior Secured Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt fair value	$ 60,756,285	52,556,401
12% Amended Senior Secured Notes [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt fair value
12% Amended Senior Secured Notes [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt fair value	60,756,285	52,556,401
12% Amended Senior Secured Notes [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt fair value

Schedule of Components of Restricted Stock liabilities (Details) - USD ($)		12 Months Ended
	Dec. 15, 2020	Dec. 31, 2021	Dec. 31, 2020
Restricted Stock Liabilities
Restricted stock liabilities		$ 3,800,734	$ 4,258,196
Less imputed interest		(177,425)	(457,462)
Present value of restricted stock liabilities	$ (3,800,734)	3,623,309	3,800,734
Less prepayments		(1,471,591)
Less prepayments		(1,471,591)	(177,425)
Restricted stock liabilities		2,151,718	3,623,309
Current portion of restricted stock liabilities		2,151,718	1,627,499
Long-term portion of restricted stock liabilities			1,995,810
Total restricted stock liabilities		$ 2,151,718	$ 3,623,309

Schedule of Intangible Assets Subjects to Amortization (Details) - USD ($)		12 Months Ended
	Jul. 15, 2021	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Intangible assets, weighted average useful life	3 years
Intangible assets, gross		$ 104,678,299	$ 99,737,656
Intangible assets, accumulated amortization		(47,321,802)	(28,235,821)
Intangible assets, net		$ 57,356,497	71,501,835
Developed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, weighted average useful life		4 years 9 months 18 days
Intangible assets, gross		$ 17,579,477	19,070,857
Intangible assets, accumulated amortization		(11,465,869)	(8,283,740)
Intangible assets, net		$ 6,113,608	10,787,117
Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, weighted average useful life
Intangible assets, gross		$ 480,000	480,000
Intangible assets, accumulated amortization		(480,000)	(480,000)
Intangible assets, net
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, weighted average useful life		11 years 11 months 12 days
Intangible assets, gross		$ 3,328,000	3,328,000
Intangible assets, accumulated amortization		(781,942)	(503,342)
Intangible assets, net		$ 2,546,058	2,824,658
Brand Name [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, weighted average useful life		10 years
Intangible assets, gross		$ 5,175,136
Intangible assets, accumulated amortization		(297,584)
Intangible assets, net		$ 4,877,552
Subscriber Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, weighted average useful life		5 years 21 days
Intangible assets, gross		$ 73,458,799	73,458,799
Intangible assets, accumulated amortization		(32,622,245)	(18,105,041)
Intangible assets, net		$ 40,836,554	55,353,758
Advertiser Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, weighted average useful life		9 years 5 months 1 day
Intangible assets, gross		$ 2,240,000	2,240,000
Intangible assets, accumulated amortization		(570,391)	(332,515)
Intangible assets, net		$ 1,669,609	1,907,485
Database [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, weighted average useful life		3 years 8 months 12 days
Intangible assets, gross		$ 2,396,887	1,140,000
Intangible assets, accumulated amortization		(1,103,771)	(531,183)
Intangible assets, net		1,293,116	608,817
Subtotal Amortizable Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross		104,658,299	99,717,656
Intangible assets, accumulated amortization		(47,321,802)	(28,235,821)
Intangible assets, net		$ 57,336,497	71,481,835
Website Domain Name [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, weighted average useful life
Intangible assets, gross		$ 20,000	20,000
Intangible assets, accumulated amortization
Intangible assets, net		$ 20,000	$ 20,000

Schedule of Components of Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Pension Plans
Net operating loss carryforwards	$ 41,806,276	$ 35,535,941
Interest limitation carryforward	2,860,899
Tax credit carryforwards	263,873	263,873
Allowance for doubtful accounts	589,585	458,506
Accrued expenses and other	1,767,649	677,909
Lease termination	1,896,991
Liquidated damages	2,240,294	1,549,313
Unearned revenue	5,383,337	2,356,111
Stock-based compensation	4,779,191	2,158,080
Operating lease liability	165,065	691,228
Depreciation and amortization	3,029,171	4,341,983
Deferred tax assets	64,782,331	48,032,944
Valuation allowance	(50,447,389)	(29,653,417)
Total deferred tax assets	14,334,942	18,379,527
Prepaid expenses	(101,388)	(144,704)
Acquisition-related intangibles	(14,595,672)	(18,445,655)
Total deferred tax liabilities	(14,697,060)	(18,590,359)
Net deferred tax liabilities	$ (362,118)	$ (210,832)

Related Party Transactions (Details Narrative) - USD ($)							12 Months Ended
	Jun. 03, 2021	Dec. 15, 2020	Oct. 31, 2020	Oct. 05, 2020	Dec. 11, 2019	Dec. 12, 2018	Dec. 31, 2021	Dec. 31, 2020
Legal Fees							$ 608,614	$ 1,313,610
Debt Instrument, Face Amount							5,086,135	6,913,865
Interest on notes							6,940,476	7,123,934
Advance paid	$ 500,000
Consulting fees							$ 779,730	$ 25,765
Issuance of common stock in connection with private placement, shares						129,880		230,326
Restricted Stock [Member]
Issuance of common stock in connection with private placement, shares					90,910
Stock issued during period, shares, issued for services		16,802
Stock price		$ 4
Proceeds from repurchase of restricted stock		$ 67,207
Series H Preferred Stock [Member]
Issuance of common stock in connection with private placement, shares								108
Ms. Rinku Sen [Member]
Proceeds from Related Party Debt								$ 12,050
Mr. Josh Jacobs [Member]
Proceeds from Related Party Debt								$ 120,000
Benjamin Joldersma [Member] \| Separation Agreement [Member]
Stock issued during period, issued for services				$ 111,000
James Heckman [Member] \| Series H Preferred Stock [Member]
Issuance of common stock in connection with private placement, shares			389

Summary of Other Assets (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Security deposit	$ 110,418	$ 110,418
Other deposits		15,400
Prepaid expenses	528,733	732,309
Prepaid supplies		472,685
Other assets	$ 639,151	$ 1,330,812

Accrued Expenses and Other

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Accrued Expenses and Other

13. Accrued Expenses and Other

Accrued expenses and other are summarized as follows:

Schedule of Accrued Expenses


	As of December 31,
	2021		2020
General accrued expenses	$	4,491,283	$	4,116,875
Accrued payroll and related taxes		7,124,180		2,519,903
Accrued publisher expenses		6,319,068		3,956,114
Deferred cash payments in connection with acquisitions		655,928		-
Sales tax liability		778,774		1,063,515
Restricted stock liabilities		2,151,718		1,627,499
Lease termination liability		1,845,981		-
Other		643,637		1,434,287
Total accrued expenses	$	24,010,569	$	14,718,193

Schedule of Principal Maturities of Long-term Debt (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2022	$ 5,924,668
2023	66,694,086
Total	$ 72,618,754	$ 60,590,409

Line of Credit (Details Narrative) - USD ($)	Dec. 06, 2021	Dec. 31, 2021	Dec. 31, 2020	Jan. 02, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Line of Credit, Current		$ 11,988,194	$ 7,178,791
Fast Pay Credit Facility [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Line of Credit, Current	$ 11,988,194
Sally Port Credit Facility [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Receivable from related party				$ 626,532
Financing and Security Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Line of Credit Facility, Expiration Date	Feb. 28, 2024
Financing and Security Agreement [Member] \| Maximum [Member] \| Prime Rates [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Line of Credit Facility, Interest Rate During Period	8.50%
Financing and Security Agreement [Member] \| Minimum [Member] \| Prime Rates [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Line of Credit Facility, Interest Rate During Period	6.00%
Financing and Security Agreement [Member] \| Fast Pay Credit Facility [Member] \| Maximum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Long-term Line of Credit	$ 25,000,000
Financing and Security Agreement [Member] \| Fast Pay Credit Facility [Member] \| Minimum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Long-term Line of Credit	$ 15,000,000

Schedule of Valuation Activity for the Embedded Conversion Feature Liability (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Debenture convertible percentage	12.00%	12.00%
Carrying amount at beginning of year	$ 1,147,895
Change in fair value of embedded derivative liabilities		$ 2,571,004
Carrying amount at end of year		1,147,895
Strome Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Carrying value beginning period	704,707	1,036,687
Change in valuation of warrant derivative liabilities	(75,179)	(331,980)
Re classification to equity	(629,528)
Carrying value at end of the period		704,707
Carrying amount at beginning of year	704,707
Carrying amount at end of year		704,707
B. Riley Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Carrying value beginning period	443,188	607,513
Change in valuation of warrant derivative liabilities	40,687	(164,325)
Re classification to equity	(483,875)
Carrying value at end of the period		443,188
Carrying amount at beginning of year	443,188
Carrying amount at end of year		443,188
Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Carrying value beginning period	1,147,895	1,644,200
Change in valuation of warrant derivative liabilities	(34,492)	(496,305)
Re classification to equity	(1,113,403)
Carrying value at end of the period		1,147,895
Embedded Conversion Feature Liability [Member] \| 12% Convertible Debentures [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Carrying amount at beginning of year		13,501,000
Change in fair value of embedded derivative liabilities		(2,571,004)
Fair value of embedded derivative liabilities recorded within additional paid-capital upon conversion of 12% convertible debentures		(10,929,996)
Carrying amount at end of year

Prepayments and Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2021

Prepayments And Other Current Assets

Schedule of Prepayments and Other Current Assets

Prepayments and other current assets are summarized as follows:

	2021		2020
	As of December 31,
	2021		2020
Prepaid expenses	$	3,467,075	$	3,400,080
Prepaid software license		128,525		378,488
Refundable income and franchise taxes		744,642		733,553
Security deposits		-		92,494
Other receivables		407,605		62,648
	$	4,747,847	$	4,667,263

Schedule of Income Taxes (Details) - USD ($)	12 Months Ended
Schedule of Income Taxes (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Pension Plans
Federal
State and local
Total current tax benefit
Federal	18,028,497		20,677,960
State and local	4,439,909		5,279,879
Change in valuation allowance	(20,793,972)		(26,168,671)
Total deferred tax (provision) benefit	1,674,434		(210,832)
Total income tax benefit (provision)	$ 1,674,434	$ (210,832)	$ (210,832)

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Summary of Maturity of Lease Liabilities (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Leases
2022	$ 472,084
2023	486,247
2024	372,829
Minimum lease payments	1,131,160
Less imputed interest	(171,981)
Total operating lease liability	1,159,179
Current portion of operating lease liability	373,859	$ 1,059,671
Long-term portion of operating lease liability	$ 785,320	$ 19,886,083

Schedule of Fair Value of Stock Options Assumptions (Details) - Black-Scholes Option Pricing Model [Member]	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
2016 Stock Incentive Plan [Member] \| Up-List [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate		0.45%
Expected dividend yield		0.00%
Expected volatility		71.00%
Expected life		6 years
2016 Stock Incentive Plan [Member] \| No Up-List [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate		0.45%
Expected dividend yield		0.00%
Expected volatility		132.00%
Expected life		6 years
Equity 2019 Incentive Plan [Member] \| Up-List [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%
Risk-free interest rate, minimum	0.16%	0.20%
Risk-free interest rate, maximum	1.48%	0.79%
Expected volatility, minimum	65.00%	61.00%
Expected volatility, maximum	90.00%	91.00%
Equity 2019 Incentive Plan [Member] \| Up-List [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life	3 years	3 years
Equity 2019 Incentive Plan [Member] \| Up-List [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life	6 years	6 years 8 months 12 days
Equity 2019 Incentive Plan [Member] \| No Up-List [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%
Risk-free interest rate, minimum	0.16%	0.20%
Risk-free interest rate, maximum	1.48%	0.79%
Expected volatility, minimum	133.00%	61.00%
Expected volatility, maximum	140.00%	142.00%
Equity 2019 Incentive Plan [Member] \| No Up-List [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life	3 years	3 years
Equity 2019 Incentive Plan [Member] \| No Up-List [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life	6 years	6 years 8 months 12 days

Royalty Fees

12 Months Ended

Dec. 31, 2021

Royalty Fees

Royalty Fees

5. Royalty Fees

As of December 31, 2021 and 2020, $11,250,000 and $26,250,000, respectively, of royalty fees were unamortized from the $45,000,000 guaranteed minimum annual royalties that was prepaid to ABG in connection with the Sports Illustrated Licensing Agreement. The royalties are being recognized over a period of three-years starting October 4, 2019. As of December 31, 2021, the current portion of $11,250,000 was reflected within royalty fees, current portion on the consolidated balance sheets. As of December 31, 2020, the current portion of $15,000,000 was reflected within royalty fees, current portion on the consolidated balance sheets and the long-term portion of $11,250,000 was reflected within royalty fees, net of current portion on the consolidated balance sheets.

Schedule of Operating Lease Costs (Details) - USD ($)

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

^[1],[2]

$ 2,718,499

$ 4,054,423

Cost Of Revenue [Member]

Selling and Marketing Expense [Member]

1,797,327

2,380,002

General and Administrative Expense [Member]

515,868

523,323

$ 405,304

$ 1,151,098

[1]	Includes certain costs associated with a business membership agreement that permits access to certain office space of $75,000
[2]	Operating lease costs is presented net of sublease income that is not material.

Summary of Price Allocation for Acquisition (Details) - USD ($)	Dec. 31, 2021	Jun. 04, 2021	Dec. 31, 2020	Mar. 09, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 19,618,667		$ 16,139,377		$ 16,139,377
College Spun Media Incorporated [Member]
Business Acquisition [Line Items]
Cash		$ 3,214,436
Accounts receivable		1,772,025
Other current assets		4,567
Goodwill		3,479,290
Accrued expenses		(84,732)
Deferred tax liabilities		(1,825,720)
Net assets acquired		11,735,002
TST Acquisition Co, Inc [Member]
Business Acquisition [Line Items]
Brand name		$ 5,175,136
Petametrics Inc [Member]
Business Acquisition [Line Items]
Accounts receivable				$ 37,908
Net assets acquired				815,289
Developed technology				917,762
Accounts payable				(53,494)
Unearned revenues				$ (86,887)

Organization and Basis of Presentation (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Revenue from Contract with Customer, Excluding Assessed Tax	$ 189,140,334	$ 128,032,397
Net Income (Loss) Available to Common Stockholders, Basic	89,939,653	$ 104,874,558
Available credit	17,700,000
Underwritten public offering	$ 31,500,000

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1377-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

Schedule of Supplemental Information Related to Operating Leases

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases

The table below presents supplemental information related to operating leases:

	Years Ended December 31,
	2021			2020
Operating lease costs during the year (1)	$	2,718,499		$	4,054,423
Cash payments included in the measurement of operating lease liabilities during the year	$	2,787,266		$	3,188,986
Operating lease liabilities arising from obtaining lease right-of-use assets during the year	$	-		$	16,617,790
Weighted-average remaining lease term (in years) as of year-end		2.75			11.25
Weighted-average discount rate during the year		9.90	%		13.57	%

(1) Operating lease costs is presented net of sublease income that is not material.

Schedule of Operating Lease Costs

The components of operating lease costs were follows:

Schedule of Operating Lease Costs


	Years Ended December 31,
	2021		2020
Operating lease costs:
Cost of revenue	$	1,797,327	$	2,380,002
Selling and marketing		515,868		523,323
General and administrative		405,304		1,151,098
Total operating lease costs (1)	$	2,718,499	$	4,054,423

(1)	Includes certain costs associated with a business membership agreement that permits access to certain office space of $75,000, see below.

Summary of Maturity of Lease Liabilities

Maturities of the operating lease liability as of December 31, 2021 are summarized as follows:

Years Ending December 31,
2022	$	472,084
2023		486,247
2024		372,829
Minimum lease payments		1,131,160
Less imputed interest		(171,981	)
Present value of operating lease liability	$	1,159,179
Current portion of operating lease liability	$	373,859
Long-term portion of operating lease liability		785,320
Total operating lease liability	$	1,159,179

Other Long-term Liabilities

12 Months Ended

Dec. 31, 2021

Other Long-term Liabilities

Other Long-term Liabilities

16. Other Long-term Liabilities

Other long-term liabilities consisted of the following:

Schedule of Other long-term liabilities


	As of December 31,
	2021		2020
Lease termination liability	$	6,928,053	$	541,381
Deferred cash payment liabilities		410,037		-
Other		218,175		211,984
Other long-term liabilities	$	7,556,265	$	753,365

Pension Plans (Details Narrative) - USD ($)	12 Months Ended
Pension Plans (Details Narrative) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Income Tax Examination, Description	U.S. federal tax purposes of $
Net operating losses expiration amount	$ 25,900,000
Defined Contribution Plan, Description	The plan allows for discretionary matching contributions by the Company, up to 4% of eligible annual compensation made by participants of the plan
Contribution to plan	$ 1,347,348	$ 1,074,323
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	155,850,000	131,170,000
State [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	112,220,000	100,610,000
Local [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	37,420,000	$ 31,150,000
U.S Federal Tax [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 129,950,000

Stock–Based Compensation (Details Narrative) - USD ($)								12 Months Ended
Stock–Based Compensation (Details Narrative) - USD ($)	Oct. 07, 2021	Oct. 07, 2021	Jun. 03, 2021	Jan. 08, 2021	Jan. 08, 2021	Oct. 26, 2020	May 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Feb. 18, 2021	Dec. 18, 2020	Apr. 03, 2020	Aug. 23, 2018	Mar. 28, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value of stock options granted								$ 173,934
Intrinsic value of stock option								$ 384,720
Exercise price of stock option								$ 14.08
Number of shares authorized								1,000,000,000	1,000,000,000		100,000,000
Common stock shares issued								12,632,947	10,412,965
Share-based Payment Arrangement, Employee [Member] \| HubPages Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Common stock options, Granted							109,090
Sports Illustrated Licensing Agreement [Member] \| ABG Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of stock option								$ 1,007,868
Fair market value of stock option								$ 14.08
Warrant to purchase common stock								999,540
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Common stock options, Granted								243,662	25,569
Number of shares, vested								56,415	101,706
2016 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Common stock options, Granted	7,160		102,272					8,041	10,637
Incremental compensation cost	$ 0		$ 0		$ 35,352
2016 Stock Incentive Plan [Member] \| Revenue Targets [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Common stock options, Granted					10,000
2016 Stock Incentive Plan [Member] \| Publishing Onboarding Targets [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Common stock options, Granted					9,091
Incremental compensation cost					$ 0
2016 Stock Incentive Plan [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for grant													227,272	136,363
2016 Stock Incentive Plan [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for grant													454,545	227,272
Equity 2019 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Common stock options, Granted								3,981,907	1,154,263
Intrinsic value of stock option								$ 6,572,579
Aggregate grant date fair value for the common equity awards granted during the period								$ 58,093,478	$ 11,180,642
Fair market value of stock option								$ 14.08
Equity 2019 Incentive Plan [Member] \| Revenue Targets [Member] \| Stock Option 2 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Common stock options, Granted				194,319
Equity 2019 Incentive Plan [Member] \| Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares issued								1,677,680	147,728
Equity 2019 Incentive Plan [Member] \| Stock Price Targets [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Common stock options, Granted		65,951	659,511
Incremental compensation cost		$ 267,912	$ 512,883
Number of shares, vested			568,601
Equity 2019 Incentive Plan [Member] \| Stock Price Targets [Member] \| Consulting Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incremental compensation cost			$ 51,293
Number of shares, vested			90,910
Equity 2019 Incentive Plan [Member] \| Stock Price Targets [Member] \| Stock Option 1 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Common stock options, Granted				475,946
Equity 2019 Incentive Plan [Member] \| Stock Price Targets [Member] \| Equity Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incremental compensation cost				$ 125,650
Equity 2019 Incentive Plan [Member] \| Stock Price Targets [Member] \| Stock Option 3 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Common stock options, Granted				572,674
Incremental compensation cost				$ 13,893
Equity 2019 Incentive Plan [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized										3,863,637
Equity 2019 Incentive Plan [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized										8,409,090		3,863,636
Stock Options Outside 2016 Plan and 2019 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of stock option								$ 545,753
Exercise price of stock option								$ 14.08
Publisher Partner Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incremental compensation cost						$ 27,754
Intrinsic value of stock option								$ 0
Fair market value of stock option								$ 14.08
Warrant to purchase common stock								90,909
Warrant expiration term								5 years

Restricted Stock Liabilities

12 Months Ended

Dec. 31, 2021

Restricted Stock Liabilities

Restricted Stock Liabilities

12. Restricted Stock Liabilities

	●	the restricted stock awards ceased to vest and all unvested shares were deemed unvested and forfeited, leaving an aggregate of 48,389 shares vested;
	●	the restricted stock units were modified to vest on December 31, 2020, and as of the close of business on December 31, 2020, each restricted stock unit was terminated and deemed forfeited, with no shares vesting thereunder; and
	●	subject to certain conditions, the Company agreed to purchase the vested restricted stock awards and restricted stock units, at a price of $88.00 per share in 24 equal monthly installments on the second business day of each calendar month beginning on January 4, 2021.

As a result of the modification of the equity-based awards, the Company recognized $334,328 of incremental stock-based compensation costs at the time of the modification and recorded $3,800,734 as a reclassification of restricted stock awards and units from equity to liability classified upon modification, as reflected within additional paid-in capital on the consolidated statements of stockholders’ deficiency.

The following table presents the components of the restricted stock liabilities:

	As of December 31,
	2021			2020
Restricted stock liabilities (before imputed interest)	$	3,800,734		$	4,258,196
Less imputed interest		(177,425	)		(457,462	)
Present value of restricted stock liabilities		3,623,309			3,800,734
Less payments during the years		(1,471,591	)		(177,425	)
Restricted stock liabilities at end of year	$	2,151,718		$	3,623,309
Current portion of restricted stock liabilities (reflected in accrued expenses and other)	$	2,151,718		$	1,627,499
Long-term portion of restricted stock liabilities		-			1,995,810
Total restricted stock liabilities at end of year	$	2,151,718		$	3,623,309

The Company recorded the repurchase of restricted stock of the Company’s common stock 22,178 during the years ended December 31, 2021 on the consolidated statements of stockholders’ deficiency.

Leases

12 Months Ended

Dec. 31, 2021

Leases

Leases

7. Leases

The Company’s real estate lease for the use of office space was subleased during the year ended December 31, 2021. The Company determines whether an arrangement contains a lease at inception. Lease assets and liabilities are recognized upon commencement of the lease based on the present value of the future minimum lease payments over the lease term. The lease term includes options to extend the lease when it is reasonably certain that the Company will exercise that option. The Company’s current lease is a long-term operating lease with a remaining fixed payment term of 2.75 years.

The table below presents supplemental information related to operating leases:

	Years Ended December 31,
	2021			2020
Operating lease costs during the year (1)	$	2,718,499		$	4,054,423
Cash payments included in the measurement of operating lease liabilities during the year	$	2,787,266		$	3,188,986
Operating lease liabilities arising from obtaining lease right-of-use assets during the year	$	-		$	16,617,790
Weighted-average remaining lease term (in years) as of year-end		2.75			11.25
Weighted-average discount rate during the year		9.90	%		13.57	%

(1) Operating lease costs is presented net of sublease income that is not material.

The Company generally utilizes its incremental borrowing rate based on information available at the commencement of the lease in determining the present value of future payments since the implicit rate for most of the Company’s leases is not readily determinable.

Variable lease expense includes rental increases that are not fixed, such as those based on amounts paid to the lessor based on cost or consumption, such as maintenance and utilities.

The components of operating lease costs were follows:

Schedule of Operating Lease Costs


	Years Ended December 31,
	2021		2020
Operating lease costs:
Cost of revenue	$	1,797,327	$	2,380,002
Selling and marketing		515,868		523,323
General and administrative		405,304		1,151,098
Total operating lease costs (1)	$	2,718,499	$	4,054,423

(1)	Includes certain costs associated with a business membership agreement that permits access to certain office space of $75,000, see below.

Maturities of the operating lease liability as of December 31, 2021 are summarized as follows:

Years Ending December 31,
2022	$	472,084
2023		486,247
2024		372,829
Minimum lease payments		1,131,160
Less imputed interest		(171,981	)
Present value of operating lease liability	$	1,159,179
Current portion of operating lease liability	$	373,859
Long-term portion of operating lease liability		785,320
Total operating lease liability	$	1,159,179

Sublease Agreement - In November 2021, the Company entered into an agreement to sublease its leased office space for the duration of its operating lease through September 2024, where it is entitled to receive sublease income of $637,000. In connection with the sublease agreement, the Company: (1) reduced the value of its right-of-use asset and lease liability by $1,001,511 based on a remeasurement of its existing operating lease to exclude any renewal options in its lease liability; and (2) recognized a loss on impairment of the lease of $466,356 as reflected on the consolidated statements of operations.

Business Membership – Effective October 1, 2021, the Company entered into a business membership agreement with York Factory LLC, doing business as SaksWorks, that permits access to certain office space with furnishings, referred to as SaksWorks Memberships (each membership provides a certain number of accounts that equate to the use of the space granted). The term of the agreement is for twenty-seven months, with an initial period of three months at $25,000 per month for 30 accounts and secondary period for the remaining twenty-four months at $56,617 per month for 110 accounts. The agreement also provides for: (1) additional accounts at predetermined pricing; (2) an early termination date of June 30, 2023, providing the Company gives notice by December 31, 2022; and (3) the renewal of the agreement at the end on the term for a twelve-month period at the then-current market price and pricing structure on such renewal date.

Lease Termination – Effective September 30, 2021, the Company terminated a certain lease arrangement for office space and as a result, relinquished the space and derecognized a right-of-use asset of $15,673,474, a lease liability of $17,934,940 and recorded a penalty upon termination of $9,606,121 (as discounted since the amount of the liability and timing of the Cash Payments, as defined below, are fixed), resulting in a net loss upon termination (or loss on termination of lease), of $7,344,655, which has been reflected on the consolidated statements of operations. In connection with the termination, the Company agreed to pay the landlord cash of $10,000,000 (the “Cash Payments”) and $1,475,000 in market rate advertising. The Cash Payments are due as follows: $1,000,000 on December 1, 2021 (paid in December 2021); $1,000,000 on October 1, 2022; $4,000,000 on October 1, 2023; and $4,000,000 on October 1, 2024.

Property and Equipment

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

6.	Property and Equipment

Property and equipment are summarized as follows:

Schedule of Property and Equipment

	As of December 31,
	2021			2020
Office equipment and computers	$	1,344,532		$	1,341,292
Furniture and fixtures		1,005			19,997
Leasehold improvements		-			345,516
		1,345,537			1,706,805
Less accumulated depreciation and amortization		(709,769	)		(577,367	)
Net property and equipment	$	635,768		$	1,129,438

Depreciation and amortization expense for the years ended December 31, 2021 and 2020 was $443,422 and $638,796, respectively. Depreciation and amortization expense is included in selling and marketing expenses and general and administrative expenses, as appropriate, on the consolidated statements of operations. No impairment charges have been recorded in the periods presented.

Schedule of Accrued Expenses (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
General accrued expenses	$ 4,491,283	$ 4,116,875
Accrued payroll and related taxes	7,124,180	2,519,903
Accrued publisher expenses	6,319,068	3,956,114
Deferred cash payments in connection with acquisitions	655,928
Sales tax liability	778,774	1,063,515
Restricted stock liabilities	2,151,718	1,627,499
Lease termination liability	1,845,981
Other	643,637	1,434,287
Total accrued expenses	$ 24,010,569	$ 14,718,193

Summary of Liquidated Damages (Details) - USD ($)

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

$ 4,305,376

$ 3,764,956

5,712,581

4,655,445

2,187,498

1,147,690

Debt instrument interest rate

$ 5,197,182

$ 9,568,091

12.00%

MDB Common Stock To Be Issued [Member]

$ 12,205,455

^[1]

15,001

$ 15,001

^[1]

^[1]

Series H Preferred Stock [Member]

^[1]

15,001

1,163,955

1,171,809

1,163,955

792,365

481,017

Convertible Debentures [Member]

3,128,129

2,808,927

873,092

905,490

242,325

134,466

Series I Preferred Stock [Member]

1,115,417

1,039,956

1,386,000

1,386,000

612,877

332,185

Series J Preferred Stock [Member]

3,384,877

3,104,185

1,560,000

1,200,000

1,560,000

1,200,000

489,797

200,022

Series K Preferred Stock [Member]

3,609,797

$ 2,600,022

180,420

721,680

50,134

Liquidated Damages Payable

$ 952,234

[1]	Consists of shares of common stock issuable to MDB Capital Group, LLC (“MDB”).

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net loss	$ (89,939,653)	$ (89,231,963)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of property and equipment	443,422	638,796
Amortization of platform development and intangible assets	24,732,877	24,192,631
Loss on disposition of assets	1,192,310	279,133
Loss on impairment of lease	466,356
Loss on termination of lease	7,344,655
Gain upon debt extinguishment	(5,716,697)
Amortization of debt discounts	2,105,536	6,607,212
Change in valuation of warrant derivative liabilities	(34,492)	(496,305)
Change in valuation of embedded derivative liabilities		(2,571,004)
Loss on conversion of 12% convertible debentures		3,297,539
Accrued and noncash converted interest	6,956,182	9,244,324
Liquidated damages	2,637,364	1,487,577
Stock-based compensation	30,493,521	14,641,181
Deferred income taxes	(1,674,434)	210,832
Other	(499,196)	(524,418)
Change in operating assets and liabilities net of effect of business combinations:
Accounts receivable	(2,891,000)	362,460
Subscription acquisition costs	3,108,403	(34,945,422)
Royalty fees	15,000,000	15,000,000
Prepayments and other current assets	48,983	(356,528)
Other long-term assets	691,661	(245,525)
Accounts payable	3,752,875	(1,404,703)
Accrued expenses and other	7,474,423	(3,392,507)
Unearned revenue	(15,818,724)	21,695,088
Subscription refund liability	(948,732)	891,359
Operating lease liabilities	(2,489,166)	1,814,601
Other long-term liabilities	(1,165,863)	511,055
Net cash used in operating activities	(14,729,389)	(32,294,587)
Cash flows from investing activities
Purchases of property and equipment	(376,635)	(1,212,003)
Capitalized platform development	(4,818,866)	(3,750,541)
Proceeds from sale of intangible asset		350,000
Payments for acquisition of businesses, net of cash	(7,950,457)	(315,289)
Net cash used in investing activities	(13,145,958)	(4,927,833)
Cash flows from financing activities
Proceeds from long-term debt	5,086,135	11,702,725
Proceeds, net of repayments, under line of credit	4,809,403	7,178,791
Proceeds from common stock private placement	20,005,000
Payment of debt issuance costs on long-term debt		(560,500)
Repayments of convertible debt		(1,130,903)
Proceeds from exercise of common stock options		3,767
Payments of issuance costs from common stock private placement	(167,243)
Payment for taxes related to repurchase of restricted common stock	(70,238)	(520,444)
Payment of restricted stock liabilities	(1,471,591)	(177,425)
Net cash provided by financing activities	28,191,466	37,284,011
Net increase in cash, cash equivalents, and restricted cash	316,119	61,591
Cash, cash equivalents, and restricted cash – beginning of year	9,534,681	9,473,090
Cash, cash equivalents, and restricted cash – end of year	9,850,800	9,534,681
Supplemental disclosure of cash flow information
Cash paid for interest	1,392,900	645,681
Cash paid for income taxes
Noncash investing and financing activities
Reclassification of stock-based compensation to platform development	2,045,264	1,608,995
Issuance of common stock in connection with professional services	125,000
Deferred cash payments in connection with acquisition of The Spun	905,109
Assumption of liabilities in connection with acquisition of The Spun	84,732
Commitment fee on delayed draw term note in accrued expenses and other	508,614
Reclassification of warrants to equity	1,113,403
Net exercise of common stock options with exchange of common stock	39
Debt discount on long-term debt		913,865
Restricted common stock units issued in connection with acquisition of LiftIgniter		500,000
Assumption of liabilities in connection with acquisition of LiftIgniter		140,381
Restricted stock issued in connection with acquisition of Fulltime Fantasy	502,500
Deferred cash payments in connection with acquisition of Fulltime Fantasy	419,387
Conversion of convertible debt into common stock		21,402,488
Conversion of embedded derivative liabilities into common stock		10,929,996
Series H convertible preferred stock [Member]
Cash flows from financing activities
Proceeds from issuance of Series K convertible preferred stock		113,000
Noncash investing and financing activities
Deemed dividend on Series K convertible preferred stock		502,000
Series J Preferred Stock [Member]
Cash flows from financing activities
Proceeds from issuance of Series K convertible preferred stock		6,000,000
Noncash investing and financing activities
Conversion of Series K convertible preferred stock into common stock		23,739,996
Deemed dividend on Series K convertible preferred stock		586,545
Series K Preferred Stock [Member]
Cash flows from financing activities
Proceeds from issuance of Series K convertible preferred stock		14,675,000
Noncash investing and financing activities
Conversion of Series K convertible preferred stock into common stock		17,481,500
Deemed dividend on Series K convertible preferred stock		9,472,050
Payment of long-term debt for issuance of Series K convertible preferred stock		3,367,000
Series I Preferred Stock [Member]
Noncash investing and financing activities
Conversion of Series K convertible preferred stock into common stock		19,699,742
Deemed dividend on Series K convertible preferred stock		$ 5,082,000

Liquidated Damages Payable

12 Months Ended

Dec. 31, 2021

Liquidated Damages Payable

15. Liquidated Damages Payable

Liquidated Damages payable are summarized as follows:

Summary of Liquidated Damages

	As of December 31, 2021
	Registration Rights Damages		Public Information Failure Damages		Accrued Interest		Balance
MDB Common Stock to be Issued (1)	$	15,001	$	-	$	-	$	15,001
Series H Preferred Stock		1,163,955		1,171,809		792,365		3,128,129
12% Convertible Debentures		-		873,092		242,325		1,115,417
Series I Preferred Stock		1,386,000		1,386,000		612,877		3,384,877
Series J Preferred Stock		1,560,000		1,560,000		489,797		3,609,797
Series K Preferred Stock		180,420		721,680		50,134		952,234
Total	$	4,305,376	$	5,712,581	$	2,187,498	$	12,205,455

(1)	Consists of shares of common stock issuable to MDB Capital Group, LLC (“MDB”).

For the years ended December 31, 2021 and 2020, liquidated damages payables were $12,205,455 (short-term of $5,197,182 and long-term of $7,008,273) and $9,568,091 (short-term of $9,568,091 and long-term of none), respectively.

The Company will continue to accrue interest on the Liquidated Damages balance at 1% per month based on the balance outstanding until paid. There is no scheduled date when the unpaid Liquidated Damages become due.

Information with respect to the Liquidated Damages recognized on the consolidated statements of operations is provided in Note 23.

Stockholders’ Deficiency (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Summary of Restricted Stock Award Activity

A summary of the restricted stock award activity during the years ended December 31, 2021 and 2020 is as follows:

							Weighted Average
	Number of Shares						Grant-Date
	Unvested			Vested			Fair Value
Restricted stock awards outstanding at January 1, 2020		108,713			77,077		$	12.32
Issued		25,569			-			10.56
Vested		(101,706	)		101,706
Subject to repurchase		-			(48,389	)
Forfeited		(18,182	)		(33,947	)
Restricted stock awards outstanding at December 31, 2020		14,394			96,447			9.24
Issued		243,662			-			16.15
Vested		(56,415	)		56,415
Exchange of shares		-			(4,035	)
Forfeited		(6,835	)		(4,355	)
Restricted stock awards outstanding at December 31, 2021		194,806			144,472			14.93

Summary of Warrant Activity

A summary of the Financing Warrants activity during the years ended December 31, 2021 and 2020 is as follows:

Summary of Warrant Activity

						Weighted
						Average
				Weighted		Remaining
	Number			Average		Contractual
	of			Exercise		Life
	Shares			Price		(in Years)
Financing Warrants outstanding at January 1, 2020		131,004		$	17.60		3.95
Financing Warrants outstanding at December 31, 2020		131,004			13.20		2.94
Expired		(14,886	)		4.40
Financing Warrants outstanding at December 31, 2021		116,118			14.08		2.21
Financing Warrants exercisable at December 31, 2021		116,118			14.08		2.21

Schedule of Common Stock Financing Warrants Outstanding and Exercisable

The Financing Warrants outstanding and exercisable classified within the statement of stockholders’ deficiency as of December 31, 2021 are summarized as follows:

	Exercise Price		Expiration Date	Total Exercisable (Shares)
Strome Warrants	$	11.00	June 15, 2023		68,182
B. Riley Warrants		7.26	October 18, 2025		39,773
MDB Warrants		25.30	October 19, 2022		5,435
MDB Warrants		55.00	October 19, 2022		2,728
Total outstanding and exercisable					116,118

Schedule of Preliminary Purchase Price (Details) - USD ($)				12 Months Ended
	Jul. 15, 2021	Jun. 04, 2021	Mar. 09, 2020	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Cash	$ 335,000			$ 7,950,457	$ 315,289
College Spun Media Incorporated [Member]
Business Acquisition [Line Items]
Cash		$ 10,829,893
Deferred cash payments		905,109
Total purchase consideration		$ 11,735,002
Fulltime Fantasy Sports LLC [Member]
Business Acquisition [Line Items]
Deferred cash payments	419,387
Total purchase consideration	1,256,887
Cash	335,000
Indemnity restricted stock units for shares of common stock	167,500
Deferred restricted stock	$ 335,000
Petametrics Inc [Member]
Business Acquisition [Line Items]
Total purchase consideration			$ 815,289
Cash			315,289
Indemnity restricted stock units for shares of common stock			$ 500,000

Schedule of Depreciation and Amortization, Useful Lives of Assets (Details)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	Shorter of remaining lease term or estimated useful life
Office Equipment And Computers [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	1 year
Office Equipment And Computers [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	3 years
Furniture and Fixtures [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	1 year
Furniture and Fixtures [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	5 years

Goodwill

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

11. Goodwill

The changes in carrying value of goodwill as follows:

	As of December 31,
	2021		2020
Carrying value at beginning of year	$	16,139,377	$	16,139,377
Goodwill acquired in acquisition of The Spun		3,479,290		-
Carrying value at end of year	$	19,618,667	$	16,139,377

The Company performs its annual impairment test at the reporting unit level, which is the operating segment or one level below the operating segment. Management determined that the Company would be aggregated into a single reporting unit for purposes of performing the impairment test for goodwill.

For the years ended December 31, 2021 and 2020, the Company as part of its annual evaluations utilized the option to first assess qualitative factors to determine whether it was necessary to perform the quantitative goodwill impairment assessment. As part of this assessment, the Company reviews qualitative factors which include, but are not limited to, economic, market and industry conditions, as well as the financial performance of its reporting unit. In accordance with applicable guidance, an entity is not required to calculate the fair value of its reporting unit if, after assessing these qualitative factors, the Company determines that it is more likely than not that the fair value of its reporting unit is greater than its respective carrying amount. The annual impairment test was performed on December 31, 2020. No impairment of goodwill has been identified during the years ended December 31, 2021 and 2020.

Summary of Platform Development Costs (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Net platform development	$ 9,298,795	$ 7,355,608
Platform Development [Member]
Property, Plant and Equipment [Line Items]
Platform development	21,997,102	16,027,428
Less accumulated amortization	$ (12,698,307)	$ (8,671,820)

Schedule of Disaggregation of Revenue (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Product Information [Line Items]
Over time	$ 189,140,334	$ 128,032,397
Total	189,140,334	128,032,397
Transferred at Point in Time [Member]
Product Information [Line Items]
Over time	159,511,979	99,536,721
Total	159,511,979	99,536,721
Transferred over Time [Member]
Product Information [Line Items]
Over time	29,628,355	28,495,676
Total	29,628,355	28,495,676
UNITED STATES
Product Information [Line Items]
Over time	182,706,557	122,570,712
Total	182,706,557	122,570,712
Other [Member]
Product Information [Line Items]
Over time	6,433,777	5,461,685
Total	6,433,777	5,461,685
Digital Advertising [Member]
Product Information [Line Items]
Over time	62,864,924	34,648,945
Total	62,864,924	34,648,945
Digital Subscriptions [Member]
Product Information [Line Items]
Over time	29,628,355	28,495,676
Total	29,628,355	28,495,676
Product and Service, Other [Member]
Product Information [Line Items]
Over time	8,515,655	4,596,686
Total	8,515,655	4,596,686
Digital Revenue [Member]
Product Information [Line Items]
Over time	101,008,934	67,741,307
Total	101,008,934	67,741,307
Print Advertising [Member]
Product Information [Line Items]
Over time	9,050,671	9,710,877
Total	9,050,671	9,710,877
Print Subscriptions [Member]
Product Information [Line Items]
Over time	79,080,729	50,580,213
Total	79,080,729	50,580,213
Print Revenue [Member]
Product Information [Line Items]
Over time	88,131,400	60,291,090
Total	$ 88,131,400	$ 60,291,090

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Product Information [Line Items]
Subscription refund liability	$ 3,086,799	$ 4,035,531
Contract modification - revenue	2,821,155	9,341,946
Restricted cash	501,780	500,809
Accounts receivable	21,659,847	16,497,626
Allowance for doubtful accounts	1,578,357	892,352
Subscription acquisition cost	38,397,077	41,505,480
Acquisition cost short term	30,162,524	28,146,895
Acquisition cost long term	8,234,553	13,358,585
Selling and Marketing Expense [Member]
Product Information [Line Items]
Advertising Expense	$ 5,942,759	$ 3,583,116
Revenue from Contract with Customer Benchmark [Member] \| Customer Concentration Risk [Member] \| Customer [Member]
Product Information [Line Items]
Concentration risk percentage	11.30%	0.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Customer [Member]
Product Information [Line Items]
Concentration risk percentage	10.70%	0.00%
Accounts Payable [Member] \| Customer Concentration Risk [Member] \| Customer [Member]
Product Information [Line Items]
Concentration risk percentage	10.50%	0.00%

Schedule of Supplemental Information Related to Operating Leases (Details) - USD ($)

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Leases

Operating lease costs during the year

^[1],[2]

$ 2,718,499

$ 4,054,423

Cash payments included in the measurement of operating lease liabilities during the year

2,787,266

3,188,986

Operating lease liabilities arising from obtaining lease right-of-use assets during the year

$ 16,617,790

Weighted-average remaining lease term (in years) as of year-end

2 years 9 months

11 years 3 months

Weighted-average discount rate during the year

9.90%

13.57%

[1]	Includes certain costs associated with a business membership agreement that permits access to certain office space of $75,000
[2]	Operating lease costs is presented net of sublease income that is not material.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Principles of Consolidation

Principles of Consolidation

The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the financial statements of The Arena Group and its wholly owned subsidiaries, Arena Media, Arena Platform, TheStreet and The Spun. Intercompany balances and transactions have been eliminated in consolidation.

Foreign Currency

Foreign Currency

The functional currency of the Company’s foreign subsidiaries is the local currencies (Canadian dollar), as it is the monetary unit of account of the principal economic environment in which the Company’s foreign subsidiaries operate. All assets and liabilities of the foreign subsidiaries are translated at the current exchange rate as of the end of the period, and revenue and expenses are translated at average exchange rates in effect during the period. The gain or loss resulting from the process of translating foreign currencies financial statements into U.S. dollars was immaterial for the year ended December 31, 2020, therefore, a foreign currency cumulative translation adjustment was not reported as a component of accumulated other comprehensive income (loss) and the unrealized foreign exchange gain or loss was omitted from the consolidated statements of cash flows. Foreign currency transaction gains and losses, if any, resulting from or expected to result from transactions denominated in a currency other than the functional currency are recognized in other income, net on the consolidated statements of operations.

Use of Estimates

Use of Estimates

The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include those related to the selection of useful lives of property and equipment, intangible assets, capitalization of platform development and associated useful lives; assumptions used in accruals for potential liabilities; fair value of assets acquired and liabilities assumed in the business acquisitions, the fair value of the Company’s goodwill and the assessment of acquired goodwill, other intangible assets and long-lived assets for impairment; determination of the fair value of stock-based compensation and valuation of derivatives liabilities; and the assumptions used to calculate contingent liabilities, and realization of deferred tax assets. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and makes adjustments when facts and circumstances dictate. Actual results could differ from these estimates.

Risks and Uncertainties

Risks and Uncertainties

The Company’s business and operations are sensitive to general business and economic conditions in the U.S. and worldwide. These conditions include short-term and long-term interest rates, inflation, fluctuations in debt and equity capital markets and the general condition of the U.S. and world economy. A host of factors beyond the Company’s control could cause fluctuations in these conditions. Adverse developments in these general business and economic conditions could have a material adverse effect on the Company’s financial condition and the results of its operations.

In addition, the Company will compete with many companies that currently have extensive and well-funded projects, marketing and sales operations as well as extensive human capital. The Company may be unable to compete successfully against these companies. The Company’s industry is characterized by rapid changes in technology and market demands. As a result, the Company’s products, services, or expertise may become obsolete or unmarketable. The Company’s future success will depend on its ability to adapt to technological advances, anticipate customer and market demands, and enhance its current technology under development.

With the initial onset of COVID-19, the Company faced significant change in its advertisers’ buying behavior. Since May 2020, there has been a steady recovery in the advertising market in both pricing and volume, which coupled with the return of professional and college sports yielded steady growth in revenues. Given that the Sports Illustrated media business relies on sporting events to generate content and comprises a material portion of the Company’s revenues, the cash flows and results of operations are susceptible to a widespread cancellation of sporting events or a general limitation of societal activity akin to what is widely known to have occurred in the Unites States and elsewhere during the 2020 calendar year. Future widespread shutdowns of in-person economic activity could have a material impact on the Company’s business. As a result of the Company’s advertising revenue declining in early 2020 caused by the widespread cancellations of sporting events, the Company is vulnerable to a risk of loss in the near term and it is at least reasonably possible that events or circumstances may occur that could cause an impact in the near term, that depend on the actions taken to prevent the further spread of COVID-19.

Since August 2018, B. Riley FBR, Inc. (“B. Riley FBR”), a registered broker-dealer owned by B. Riley Financial, Inc., a diversified publicly-traded financial services company (“B. Riley”), has been instrumental in providing investment banking services to the Company and in raising debt and equity capital for the Company. These services have included raising of equity capital to support the acquisition of College Spun Media Incorporated (as described in Note 3). B. Riley has also assisted in the raising of debt and equity capital for various acquisitions, refinancing and working capital purposes including the 12% Convertible Debentures (as described in Note 18), Senior Secured Note and Delayed Draw Term Note (as described in Note 19), Series H, Series I, Series J and Series K Preferred Stock (as described in Note 20), Common Stock Private Placement (as described in Note 21) and the Public Offering (as described in Note 28).

Segment Reporting

Segment Reporting

The Company operates in one reportable segment which focuses on a publishing platform. The Company’s business offerings have similar operating characteristics and similar long-term operating performance, including the types of customers, nature of product or services, distribution methods and regulatory environment. The chief operating decision maker of the Company reviews specific financial and operational specific data and other key metrics to make resource allocation decisions and assesses performance by review of profit and loss information on a consolidated basis. The consolidated financial statements reflect the financial results of the Company’s one reportable segment.

Revenue Recognition

Revenue Recognition

In accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, revenues are recognized when control of the promised goods or services are transferred to the Company’s customers, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company generates all of its revenue from contracts with customers. The Company accounts for revenue on a gross basis, as compared to a net basis, in its statement of operations. Cost of revenues is presented as a separate line item in the statement of operations. The Company has made this determination based on it taking the credit risk in its revenue-generating transactions and it also being the primary obligor responsible for providing the services to the customer.

The following is a description of the principal activities from which the Company generates revenue:

Advertising Revenue

Digital Advertising – The Company recognizes revenue from digital advertisements at the point when each ad is viewed. The quantity of advertisements, the impression bid prices and revenue are reported on a real-time basis. The Company enters into contracts with advertising networks to serve display or video advertisements on the digital media pages associated with its various channels. Although reported advertising transactions are subject to adjustment by the advertising network partners, any such adjustments are known within a few days of month end. The Company owes its independent Publisher Partners a revenue share of the advertising revenue earned, which is recorded as service costs in the same period in which the associated advertising revenue is recognized.

Advertising revenue that is comprised of fees charged for the placement of advertising, on the Company’s flagship website, TheStreet.com, is recognized as the advertising or sponsorship is displayed, if collection of the resulting receivable is reasonably assured.

Print Advertising – Advertising related revenues for print advertisements are recognized when advertisements are published (defined as an issue’s on-sale date), net of provisions for estimated rebates, rate adjustments, and discounts.

Subscription Revenue

Digital Subscriptions – The Company enters into contracts with internet users that subscribe to premium content on the owned and operated media channels and facilitate such contracts between internet users and our Publisher Partners. These contracts provide internet users with a membership subscription to access the premium content. The Company owes its independent Publisher Partners a revenue share of the membership subscription revenue earned, which is initially deferred and recorded as deferred contract costs. The Company recognizes deferred contract costs over the membership subscription term in the same pattern that the associated membership subscription revenue is recognized.

Subscription revenue generated from the Company’s flagship website TheStreet.com from institutional and retail customers is comprised of subscriptions and license fees for access to securities investment information, stock market commentary, director and officer profiles, relationship capital management services, and transactional information pertaining to mergers and acquisitions and other changes in the corporate control environment. Subscriptions are charged to customers’ credit cards or are directly billed to corporate subscribers, and are generally billed in advance on a monthly, quarterly or annual basis. The Company calculates net subscription revenue by deducting from gross revenue an estimate of potential refunds from cancelled subscriptions as well as chargebacks of disputed credit card charges. Net subscription revenue is recognized ratably over the subscription periods. Unearned revenue relates to payments for subscription fees for which revenue has not been recognized because services have not yet been provided.

Print Revenue

Print revenue includes magazine subscriptions and single copy sales at newsstands.

Print Subscriptions – Revenue from magazine subscriptions is deferred and recognized proportionately as products are distributed to subscribers.

Newsstand – Single copy revenue is recognized on the publication’s on-sale date, net of provisions for estimated returns. The Company bases its estimates for returns on historical experience and current marketplace conditions.

Licensing Revenue

Content licensing-based revenues are accrued generally monthly or quarterly based on the specific mechanisms of each contract. Generally, revenues are accrued based on estimated sales and adjusted as actual sales are reported by partners. These adjustments are typically recorded within three months of the initial estimates and have not been material. Any minimum guarantees are typically earned evenly over the fiscal year.

Nature of Performance Obligations

At contract inception, the Company assesses the obligations promised in its contracts with customers and identifies a performance obligation for each promise to transfer a good or service or bundle that is distinct. To identify the performance obligations, the Company considers all the promises in the contract, whether explicitly stated or implied based on customary business practices. For a contract that has more than one performance obligation, the Company allocates the total contract consideration to each distinct performance obligation on a relative standalone selling price basis. Revenue is recognized when, or as, the performance obligations are satisfied, and control is transferred to the customer.

Digital Advertising – The Company sells digital advertising inventory on its websites directly to advertisers or through advertising agencies. The Company’s performance obligations related to digital advertising are generally satisfied when the advertisement is run on the Company’s platform. The price for direct digital advertising is determined in contracts with the advertisers. Revenue from the sale of direct digital advertising is recognized when the advertisements are delivered based on the contract. The customer is invoiced the agreed-upon price in the month following the month that the advertisements are delivered with normal trade terms. The agreed upon price is adjusted for estimated provisions for rebates, rate adjustments, and discounts. As part of the Company’s customary business practices, digital advertising contracts may include a guaranteed number of impressions and sales incentives to its customers including volume discounts, rebates, value added impressions, etc. For all such contracts that include these types of variable consideration, the Company estimates the variable consideration and factors in such an estimate when determining the transaction price.

Print Advertising – The Company provides advertisement placements in print media directly to advertisers or through advertising agencies. The Company’s performance obligations related to print advertising are satisfied when the magazine in which an advertisement appears is published, which is defined as an issue’s on-sale date. The customer is invoiced the agreed-upon price when the advertisements are published under normal industry trade terms. The agreed upon price is adjusted for estimated provisions for rebates, rate adjustments, and discounts. As part of the Company’s customary business practices, print advertising contracts include guaranteed circulation levels of magazines, referred to as rate base, and a number of sales incentives to its customers including volume discounts, rebates, bonus pages, etc. For all such contracts that include these types of variable consideration, the Company estimates such when determining the transaction price.

Digital Subscriptions – The Company recognizes revenue from each membership subscription to access the premium content over time based on a daily calculation of revenue during the reporting period, which is generally one year. Subscriber payments are initially recorded as unearned revenue on the balance sheets. As the Company provides access to the premium content over the membership subscription term, the Company recognizes revenue and proportionately reduces the unearned revenue balance.

Print Subscriptions – The Company sells magazines to consumers through subscriptions. Each copy of a magazine is determined to be a distinct performance obligation that is satisfied when the publication is sent to the customer. The majority of the Company’s subscription sales are prepaid at the time of order. Subscriptions may be canceled at any time for a refund of the price paid for remaining issues. As the contract may be canceled at any time for a full refund of the unserved copies, the contract term is determined to be on an issue-to-issue basis as these contracts do not have substantive termination penalties. Revenues from subscriptions are deferred and recognized proportionately as subscribers are served. Some magazine subscription offers contain more than one magazine title in a bundle. The Company allocates the total contract consideration to each distinct performance obligation, or magazine title, based on a standalone-selling price basis.

Newsstand – The Company sells single copy magazines, or bundles of single copy magazines, to wholesalers for ultimate resale on newsstands primarily at major retailers and grocery/drug stores, and in digital form on tablets and other electronic devices. Publications sold to magazine wholesalers are sold with the right to receive credit from the Company for magazines returned to the wholesaler by retailers. Revenue is recognized on the issue’s on-sale date as the date aligns most closely with the date that control is transferred to the customer. The Company bases its estimates for returns on historical experience and current marketplace conditions.

Licensing – The Company has entered into various licensing agreements that provide third-party partners the right to utilize the Company’s content. Functional licenses in national media consist of content licensing.

Timing of Satisfaction of Performance Obligations

Point-in-Time Performance Obligations – For performance obligations related to certain digital advertising space and sales of print advertisements, the Company determines that the customer can direct the use of and obtain substantially all the benefits from the advertising products as the digital impressions are served or on the issue’s on-sale date. For performance obligations related to sales of magazines through subscriptions, the customer obtains control when each magazine issue is mailed to the customer on or before the issue’s on-sale date. For sales of single copy magazines on newsstands, revenue is recognized on the issue’s on-sale date as the date aligns most closely with the date that control is transferred to the customer. Revenues from functional licenses are recognized at a point-in-time when access to the completed content is granted to the partner.

Over-Time Performance Obligations – For performance obligations related to sales of certain digital advertising space, the Company transfers control and recognizes revenue over time by measuring progress towards complete satisfaction using the most appropriate method.

For performance obligations related to digital advertising, the Company satisfies its performance obligations on some flat-fee digital advertising placements over time using a time-elapsed output method.

Determining a measure of progress requires management to make judgments that affect the timing of revenue recognized. The Company has determined that the above method provides a faithful depiction of the transfer of goods or services to the customer. For performance obligations recognized using a time-elapsed output method, the Company’s efforts are expended evenly throughout the period.

Performance obligations related to subscriptions to premium content on the digital media channels provides access for a given period of time, which is generally one year. The Company recognizes revenue from each membership subscription over time based on a daily calculation of revenue during the reporting period.

Transaction Price and Amounts Allocated to Performance Obligations

Determining the Transaction Price – Certain advertising contracts contain variable components of the transaction price, such as volume discounts and rebates. The Company has sufficient historical data and has established processes to reliably estimate these variable components of the transaction price.

Subscription revenue generated from the flagship website TheStreet.com is subject to estimation and variability due to the fact that, in the normal course of business, subscribers may for various reasons contact the Company or their credit card companies to request a refund or other adjustment for a previously purchased subscription. With respect to many of the Company’s annual newsletter subscription products, the Company offers the ability to receive a refund during the first 30 days but none thereafter. Accordingly, the Company maintains a provision for estimated future revenue reductions resulting from expected refunds and chargebacks related to subscriptions for which revenue was recognized in a prior period. The calculation of this provision is based upon historical trends and is reevaluated each quarter.

The Company typically does not offer any type of variable consideration in standard magazine subscription contracts. For these contracts, the transaction price is fixed upon establishment of the contract that contains the final terms of the sale including description, quantity and price of each subscription purchased. Therefore, the Company does not estimate variable consideration or perform a constraint analysis for these contracts.

A right of return exists for newsstand contracts. The Company has sufficient historical data to estimate the final amount of returns and reduces the transaction price at contract inception for the expected return reserve.

There is no variable consideration related to functional licenses.

Estimating Standalone-Selling Prices – For contracts that contain multiple performance obligations, the Company allocates the transaction price to each performance obligation on a relative standalone-selling price basis. The standalone-selling price is the price at which the Company would sell a promised good or service separately to the customer. In situations in which an obligation is bundled with other obligations and the total amount of consideration does not reflect the sum of individual observable prices, the Company allocates the discount to (1) a single obligation if the discount is attributable to that obligation or (2) prorates across all obligations if the discount relates to the bundle. When standalone-selling price is not directly observable, the Company estimates and considers all the information that is reasonably available to the Company, including market conditions, entity specific factors, customer information, etc. The Company maximizes the use of observable inputs and applies estimation methods consistently in similar circumstances.

Measuring Obligations for Returns and Refunds – The Company accepts product returns in some cases. The Company establishes provisions for estimated returns concurrently with the recognition of revenue. The provisions are established based upon consideration of a variety of factors, including, among other things, recent and historical return rates for both specific products and distributors and the impact of any new product releases and projected economic conditions.

As of December 31, 2021 and 2020, a subscription refund liability of $3,086,799 and $4,035,531, respectively, was recorded for the provision for the estimated returns and refunds on the consolidated balance sheets.

Contract Modifications

The Company occasionally enters into amendments to previously executed contracts that constitute contract modifications. The Company assesses each of these contract modifications to determine:

	●	if the additional services and goods are distinct from the services and goods in the original arrangement; and

	●	if the amount of consideration expected for the added services or goods reflects the stand-alone selling price of those services and goods.

A contract modification meeting both criteria is accounted for as a separate contract. A contract modification not meeting both criteria is considered a change to the original contract and is accounted for on either a prospective basis as a termination of the existing contract and the creation of a new contract, or a cumulative catch-up basis (further details are provided under the headings Contract Balances and Subscription Acquisition Costs).

Disaggregation of Revenue

The following table provides information about disaggregated revenue by category, geographical market and timing of revenue recognition:

Schedule of Disaggregation of Revenue

	2021		2020
	Years Ended December 31,
	2021		2020
Revenue by category:
Digital revenue
Digital advertising	$	62,864,924	$	34,648,945
Digital subscriptions		29,628,355		28,495,676
Other revenue		8,515,655		4,596,686
Total digital revenue		101,008,934		67,741,307
Print revenue
Print advertising		9,050,671		9,710,877
Print subscriptions		79,080,729		50,580,213
Total print revenue		88,131,400		60,291,090
Total	$	189,140,334	$	128,032,397
Revenue by geographical market:
United States	$	182,706,557	$	122,570,712
Other		6,433,777		5,461,685
Total	$	189,140,334	$	128,032,397
Revenue by timing of recognition:
At point in time	$	159,511,979	$	99,536,721
Over time		29,628,355		28,495,676
Total	$	189,140,334	$	128,032,397

Cost of Revenue

Cost of Revenue

Cost of revenue represents the cost of providing the Company’s digital media channels and advertising and membership services. The cost of revenue that the Company has incurred in the periods presented primarily include: Publisher Partner guarantees and revenue share payments; amortization of developed technology and platform development; royalty fees; hosting and bandwidth and software license fees; printing and distribution costs; payroll and related expenses for customer support, technology maintenance, and occupancy costs of related personnel; fees paid for data analytics and to other outside service providers; and stock-based compensation of related personnel and stock-based compensation related to Publisher Partner Warrants (as described in Note 22).

Contract Balances

Contract Balances

The timing of the Company’s performance under its various contracts often differs from the timing of the customer’s payment, which results in the recognition of a contract asset or a contract liability. A contract asset is recognized when a good or service is transferred to a customer and the Company does not have the contractual right to bill for the related performance obligations. An asset is recognized when certain costs incurred to obtain a contract meet the capitalization criteria. A contract liability is recognized when consideration is received from the customer prior to the transfer of goods or services.

The following table provides information about contract balances:

	2021		2020
	As of December 31,
	2021		2020
Unearned revenue (short-term contract liabilities):
Digital revenue	$	14,692,479	$	15,039,331
Print revenue		39,337,178		46,586,345
	$	54,029,657	$	61,625,676
Unearned revenue (long-term contract liabilities):
Digital revenue	$	1,444,440	$	785,636
Print revenue		13,831,452		22,712,961
	$	15,275,892	$	23,498,597

Unearned Revenue – Unearned revenue, also referred to as contract liabilities, include payments received in advance of performance under the contracts and are recognized as revenue over time. The Company records contract liabilities as unearned revenue on the consolidated balance sheets. Digital subscription and print subscription revenue of $56,368,308 was recognized during the year ended December 31, 2021 from unearned revenue at the beginning of the year.

During January of 2020, February of 2020 and December of 2021, the Company modified certain digital and print subscription contracts that prospectively changed the frequency of the related issues (or magazines) required to be delivered on a yearly basis (the “Contract Modifications”). The Company determined that the remaining digital content and magazines to be delivered are distinct from the digital content or magazines already provided under the original contract. As a result, the Company in effect established a new contract that included only the remaining digital content or magazines. Accordingly, the Company allocated the remaining performance obligations in the contracts as consideration from the original contract that has not yet been recognized as revenue. For the years ended December 31, 2021 and 2020, the Company recognized revenue of $2,821,155 and $9,341,946, respectively, resulting from the Contract Modifications.

Cash, Cash Equivalents, and Restricted Cash

Cash, Cash Equivalents, and Restricted Cash

The Company maintains cash, cash equivalents, and restricted cash at banks where amounts on deposit may exceed the Federal Deposit Insurance Corporation limit during the year. Cash and cash equivalents represent cash and highly liquid investments with an original contractual maturity at the date of purchase of three months. As of December 31, 2021 and 2020, cash and cash equivalents consist primarily of checking, savings deposits and money market accounts. These deposits exceeded federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to significant credit risk regarding its cash and cash equivalents.

The following table reconciles total cash, cash equivalents, and restricted cash:

Schedule of Cash and Restricted Cash

	2021		2020
	As of December 31,
	2021		2020
Cash and cash equivalents	$	9,349,020	$	9,033,872
Restricted cash		501,780		500,809
Total cash, cash equivalents, and restricted cash	$	9,850,800	$	9,534,681

As of December 31, 2021 and 2020, the Company had restricted cash of $501,780 and $500,809, respectively, which serves as collateral for certain credit card merchant accounts with a bank.

Accounts Receivable

Accounts Receivable

The Company receives payments from advertising customers based upon contractual payment terms; accounts receivable is recorded when the right to consideration becomes unconditional and are generally collected within 90 days. The Company generally receives payments from digital and print subscription customers at the time of sign up for each subscription; accounts receivable from merchant credit card processors are recorded when the right to consideration becomes unconditional and are generally collected weekly. Accounts receivable as of December 31, 2021 and 2020 of $21,659,847 and $16,497,626, respectively, are presented net of allowance for doubtful accounts. The allowance for doubtful accounts as of December 31, 2021 and 2020 was $1,578,357 and $892,352, respectively.

Subscription Acquisition Costs

Subscription Acquisition Costs

Subscription acquisition costs include the incremental costs of obtaining a contract with a customer, paid to external parties, if it expects to recover those costs. The Company has determined that sales commissions paid on all third-party agent sales of subscriptions are direct and incremental and, therefore, meet the capitalization criteria. Direct mail costs also meet the requirements to be capitalized as assets if they are proven to be recoverable. The incremental costs of obtaining a contract are amortized as revenue is recognized or over the term of the agreement. The Company had no asset impairment charges related to the subscription acquisition costs during the years ended December 31, 2021 and 2020.

The Contract Modifications resulted in subscription acquisition costs to be recognized on a prospective basis in the same proportion as the revenue that has not yet been recognized.

As of December 31, 2021 and 2020, subscription acquisition costs were $38,397,077 (short-term of $30,162,524 and long-term of $8,234,553) and $41,505,480 (short-term of $28,146,895 and long-term of $13,358,585), respectively. Subscription acquisition cost as of December 31, 2021 presented as current assets of $30,162,524 are expected to be amortized during the year ending December 31, 2021 and $8,234,553 presented as long-term assets are expected to be amortized after the year ending December 31, 2021.

Concentrations

Concentrations

Significant Customers – Concentration of credit risk with respect to accounts receivable is limited to customers to whom the Company makes significant sales. While a reserve for the potential write-off of accounts receivable is maintained, the Company has not written off any significant accounts to date. To control credit risk, the Company performs regular credit evaluations of its customers’ financial condition.

Revenue from a significant customer as a percentage of the Company’s total revenue represents 11.3% and none for the years ended December 31, 2021 and 2020, respectively.

A significant accounts receivable balance as a percentage of the Company’s total accounts receivable represents 10.7% and none for the years ended December 31, 2021 and 2020, respectively.

Significant Vendors – Concentrations of risk with respect to third party vendors who provide products and services to the Company are limited. If not limited, such concentrations could impact profitability if a vendor failed to fulfill their obligations or if a significant vendor was unable to renew an existing contract and the Company was not able to replace the related product or service at the same cost.

A significant accounts payable balance as a percentage of the Company’s total accounts payable represents 10.5% and none for the years ended December 31, 2021 and 2020, respectively.

Leases

Leases

The Company has lease arrangements for certain equipment and its offices. Leases are recorded as an operating lease right-of-use assets and operating lease liabilities on the consolidated balance sheets. Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheets. At inception, the Company determines whether an arrangement that provides control over the use of an asset is a lease. When it is reasonably certain that the Company will exercise the renewal period, the Company includes the impact of the renewal in the lease term for purposes of determining total future lease payments. Rent expense is recognized on a straight-line basis over the lease term.

Property and Equipment

Property and Equipment

Office equipment and computers		1 – 3 years
Furniture and fixtures		1 – 5 years
Leasehold improvements		Shorter of remaining lease term or estimated useful life

Platform Development

Platform Development

The Company capitalizes platform development costs for internal use when planning and design efforts are successfully completed, and development is ready to commence. The Company places capitalized platform development assets into service and commences amortization when the applicable project or asset is substantially complete and ready for its intended use. Once placed into service, the Company capitalizes qualifying costs of specified upgrades or enhancements to capitalized platform development assets when the upgrade or enhancement will result in new or additional functionality.

The Company capitalizes internal labor costs, including payroll-based and stock-based compensation, benefits and payroll taxes, that are incurred for certain capitalized platform development projects related to the Company’s technology platform. The Company’s policy with respect to capitalized internal labor stipulates that labor costs for employees working on eligible internal use capital projects are capitalized as part of the historical cost of the project when the impact, as compared to expensing such labor costs, is material.

Platform development costs are amortized on a straight-line basis over three years, which is the estimated useful life of the related asset and is recorded in cost of revenues on the consolidated statements of operations.

Business Combinations

Business Combinations

The Company accounts for business combinations using the acquisition method of accounting. The acquisition method of accounting requires that the purchase price, including the fair value of contingent consideration, of the acquisition be allocated to the assets acquired and liabilities assumed using the estimated fair values determined by management as of the acquisition date. Goodwill is measured as the excess of consideration transferred and the net fair values of the assets acquired and the liabilities assumed at the date of acquisition. While the Company uses its best estimates and assumptions as part of the purchase price allocation process to accurately value assets acquired and liabilities assumed at the acquisition date, the Company’s estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, the Company records adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill to the extent the Company identifies adjustments to the preliminary purchase price allocation. Upon the conclusion of the measurement period, which may be up to one year from the acquisition date, or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of operations. Additionally, the Company identifies acquisition-related contingent payments and determines their respective fair values as of the acquisition date, which are recorded as accrued liabilities on the consolidated balance sheets. Subsequent changes in fair value of contingent payments are recorded on the consolidated statements of operations. The Company expenses transaction costs related to the acquisition as incurred.

Intangible Assets

Intangible Assets

Intangibles with finite lives, consisting of developed technology and trade names, are amortized using the straight-line method over the estimated economic lives of the assets. A finite lived intangible asset is tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Intangibles with an indefinite useful life are not being amortized.

Long-Lived Assets

Long-Lived Assets

The Company periodically evaluates the carrying value of long-lived assets to be held and used when events or circumstances warrant such a review. The carrying value of a long-lived asset to be held and used is considered impaired when the anticipated separately identifiable undiscounted cash flows from such an asset are less than the carrying value of the asset. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. Fair value is determined primarily by reference to the anticipated cash flows discounted at a rate commensurate with the risk involved.

Goodwill

Goodwill

Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets of businesses acquired in a business combination. Goodwill is not amortized but rather is tested for impairment at least annually on December 31, or more frequently if events or changes in circumstances indicate that the carrying amount of goodwill may not be recoverable. The Company operates as one reporting unit, therefore, the impairment test is performed at the consolidated entity level. Recoverability of goodwill is determined by comparing the fair value of Company’s reporting unit to the carrying value of the underlying net assets in the reporting unit. If the fair value of the reporting unit is determined to be less than the carrying value of its net assets, goodwill is deemed impaired and an impairment loss is recognized to the extent that the carrying value of goodwill exceeds the difference between the fair value of the reporting unit and the fair value of its other assets and liabilities. As of December 31, 2021 and 2020, management determined there were no indications of impairment.

Deferred Financing Costs and Discounts on Debt Obligations

Deferred Financing Costs and Discounts on Debt Obligations

Deferred financing costs consist of cash and noncash consideration paid to lenders and third parties with respect to convertible debt and other financing transactions, including legal fees and placement agent fees. Such costs are deferred and amortized over the term of the related debt. Upon the settlement of debt or conversion of convertible debt into common stock, under certain circumstances, the pro rata portion of any related unamortized deferred financing costs are charged to operations.

Additional consideration in the form of warrants and other derivative financial instruments issued to lenders is accounted for at fair value utilizing information determined by consultants with the Company’s independent valuation firm. The fair value of warrants and derivatives are recorded as a reduction to the carrying amount of the related debt and are being amortized to interest expense over the term of such debt, with the initial offsetting entries recorded as a liability on the balance sheet. Upon the settlement or conversion of convertible debt into common stock, under certain circumstances, the pro rata portion of any related unamortized discount on debt is charged to operations.

Liquidated Damages

Liquidated Damages

Liquidated damages are provided as a result of the following: (i) certain registration rights agreements provide for damages if the Company does not register certain shares of the Company’s common stock within the requisite time frame (the “Registration Rights Damages”); and (ii) certain securities purchase agreements provide for damages if the Company does not maintain its periodic filings with the Securities and Exchange Commission (“SEC”) within the requisite time frame (the “Public Information Failure Damages”). Obligations with respect to the Registration Rights Damages and the Public Information Failure Damages (collectively, the “Liquidated Damages”) are accounted for as contingent obligations when it is deemed probable the obligations would not be satisfied at the time a financing is completed and are subsequently reviewed at each quarter-end reporting date thereafter. When such quarterly review indicates that it is probable that the Liquidated Damages will be incurred, the Company records an estimate of each such obligation at the balance sheet date based on the amount due of such obligation.

Selling and Marketing

Selling and Marketing

Selling and marketing expenses consist of compensation, employee benefits and stock-based compensation of selling and marketing, account management support teams, as well as commissions, travel, trade show sponsorships and events, conferences and advertising costs. The Company’s advertising expenses relate to direct-mail costs for magazine subscription acquisition efforts, print, and digital advertising. Advertising costs that are not capitalized are expensed the first time the advertising takes place. During the years ended December 31, 2021 and 2020, the Company incurred advertising expenses of $5,942,759 and $3,583,116, respectively, which are included within selling and marketing on the consolidated statements of operations.

General and Administrative

General and Administrative

General and administrative expenses consist primarily of payroll for executive personnel, technology personnel incurred in developing conceptual formulation and determination of existence of needed technology, and administrative personnel along with any related payroll costs; professional services, including accounting, legal and insurance; facilities costs; conferences; other general corporate expenses; and stock-based compensation of related personnel.

Derivative Financial Instruments

Derivative Financial Instruments

The Company accounts for freestanding contracts that are settled in the Company’s equity securities, including common stock warrants, to be designated as an equity instrument, and generally as a liability. A contract so designated is carried at fair value on a company’s balance sheet, with any changes in fair value recorded as a gain or loss in a company’s results of operations.

The Company records all derivatives on the balance sheet at fair value, adjusted at the end of each reporting period to reflect any material changes in fair value, with any such changes classified as changes in derivatives valuation in the statement of operations. The calculation of the fair value of derivatives utilizes highly subjective and theoretical assumptions that can materially affect fair values from period to period. The recognition of these derivative amounts does not have any impact on cash flows.

At the date of exercise of any of the warrants, or the conversion of any convertible debt or preferred stock into common stock, the pro rata fair value of the related warrant liability and any embedded derivative liability is transferred to additional paid-in capital.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

The authoritative guidance with respect to fair value established a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels and requires that assets and liabilities carried at fair value be classified and disclosed in one of three categories, as presented below. Disclosure as to transfers in and out of Levels 1 and 2, and activity in Level 3 fair value measurements, is also required.

Level 1. Observable inputs such as quoted prices in active markets for an identical asset or liability that the Company has the ability to access as of the measurement date. Financial assets and liabilities utilizing Level 1 inputs include active-exchange traded securities and exchange-based derivatives.

Level 2. Inputs, other than quoted prices included within Level 1, which are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. Financial assets and liabilities utilizing Level 2 inputs include fixed income securities, non-exchange-based derivatives, mutual funds, and fair-value hedges.

Level 3. Unobservable inputs in which there is little or no market data for the asset or liability which requires the reporting entity to develop its own assumptions. Financial assets and liabilities utilizing Level 3 inputs include infrequently traded non-exchange-based derivatives and commingled investment funds and are measured using present value pricing models.

The Company determines the level in the fair value hierarchy within which each fair value measurement falls in its entirety, based on the lowest level input that is significant to the fair value measurement in its entirety. In determining the appropriate levels, the Company performs an analysis of the assets and liabilities at each reporting period end.

The carrying amount of the Company’s financial instruments comprising of cash, restricted cash, accounts receivable, accounts payable and accrued expenses and other approximate fair value because of the short-term maturity of these instruments.

Preferred Stock

Preferred Stock

Preferred stock (the “Preferred Stock”) (as described in Note 20) is reported as a mezzanine obligation between liabilities and stockholders’ deficiency. If it becomes probable that the Preferred Stock will become redeemable, the Company will re-measure the Preferred Stock by adjusting the carrying value to the redemption value of the Preferred Stock assuming each balance sheet date is a redemption date.

Stock-Based Compensation

Stock-Based Compensation

The Company provides stock-based compensation in the form of (a) stock awards to employees and directors, comprised of restricted stock awards and restricted stock units, (b) stock option grants to employees, directors and consultants, (c) common stock warrants to Publisher Partners (no warrants were issued during the years ended December 31, 2021 or 2020) (further details are provided under the heading Publisher Partner Warrants in Note 22), and (d) common stock warrants to ABG (further details are provided under the heading ABG Warrants in Note 22).

The Company accounts for stock awards and stock option grants to employees, directors and consultants, and non-employee awards to certain directors and consultants by measuring the cost of services received in exchange for the stock-based payments as compensation expense in the Company’s consolidated financial statements. Stock awards and stock option grants to employees and non-employees which are time-vested, are measured at fair value on the grant date, and charged to operations ratably over the vesting period. Stock awards and stock option grants to employees and non-employees which are performance-vested, are measured at fair value on the grant date and charged to operations when the performance condition is satisfied or over the service.

The fair value measurement of equity awards and grants used for stock-based compensation is as follows: (1) restricted stock awards and restricted stock units which are time-vested, are determined using the quoted market price of the Company’s common stock at the grant date; (2) stock option grants which are time-vested and performance-vested, are determined utilizing the Black-Scholes option-pricing model at the grant date; (3) restricted stock units and stock option grants which provide for market-based vesting with a time-vesting overlay, are determined through consultants with the Company’s independent valuation firm using the Monte Carlo model at the grant date; (4) Publisher Partner Warrants are determined utilizing the Black-Scholes option-pricing model; and (5) ABG warrants are determined utilizing the Monte Carlo model (further details are provided in Note 22).

Fair value determined under the Black-Scholes option-pricing model and Monte Carlo model is affected by several variables, the most significant of which are the life of the equity award, the exercise price of the stock option or warrants, as compared to the fair market value of the common stock on the grant date, and the estimated volatility of the common stock over the term of the equity award. Estimated volatility is based on the historical volatility of the Company’s common stock and is evaluated based upon market comparisons. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. The fair market value of common stock is determined by reference to the quoted market price of the Company’s common stock.

The fair value of the stock options granted are probability weighted under the Black-Scholes option-pricing model or Monte Carlo model as determined through consultants with the Company’s independent valuation firm since the value of the stock options, among other things, depend on the volatility of the underlying shares of the Company’s common stock, under the following two scenarios: (1) scenario one assumes that the Company’s common stock will be up-listed on a national stock exchange (the “Exchange”) on a certain listing date (the “Up-list”); and (2) scenario two assumes that the Company’s common stock is not up-listed on the Exchange prior to the final vesting date of the grants (the “No Up-list”), collectively referred to as the “Probability Weighted Scenarios”.

The Company classifies stock-based compensation cost on its consolidated statements of operations in the same manner in which the award recipient’s cash compensation cost is classified.

Income Taxes

Income Taxes

The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to operating loss carryforwards and temporary differences between financial statement bases of existing assets and liabilities and their respective income tax bases. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in the income tax rates on deferred tax asset and liability balances is recognized in income in the period that includes the enactment date of such rate change. A valuation allowance is recorded for loss carryforwards and other deferred tax assets when it is determined that it is more likely than not that such loss carryforwards and deferred tax assets will not be realized.

The Company follows accounting guidance that sets forth a threshold for financial statement recognition, measurement, and disclosure of a tax position taken or expected to be taken on a tax return. Such guidance requires the Company to determine whether a tax position of the Company is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any related appeals or litigation processes, based on technical merits of the position.

Loss per Common Share

Loss per Common Share

Basic loss per share is computed using the weighted average number of common shares outstanding during the period and excludes any dilutive effects of common stock equivalent shares, such as stock options, restricted stock, and warrants. All restricted stock awards are considered outstanding but are included in the computation of basic loss per common share only when the underlying restrictions expire, the shares are no longer forfeitable, and are thus vested. All restricted stock units are included in the computation of basic loss per common share only when the underlying restrictions expire, the shares are no longer forfeitable, and are thus vested. Contingently issuable shares are included in basic loss per common share only when there are no circumstances under which those shares would not be issued. Diluted loss per common share is computed using the weighted average number of common shares outstanding and common stock equivalent shares outstanding during the period using the treasury stock method. Common stock equivalent shares are excluded from the computation if their effect is anti-dilutive.

	As of December 31,
	2021		2020
Series G Preferred Stock		8,582		8,582
Series H Preferred Stock		2,075,200		2,699,312
Restricted Stock Awards		194,806		14,394
Financing Warrants		116,118		131,003
ABG Warrants		999,540		999,540
AllHipHop Warrants		5,681		5,681
Publisher Partner Warrants		35,607		35,888
Common Stock Awards		293,341		313,742
Common Equity Awards		6,907,454		3,730,106
Outside Options		138,637		138,728
Total		10,774,966		8,076,976

Recent Accounting Pronouncements

Recent Accounting Pronouncements

Recently Adopted Accounting Standards

In August 2018, the FASB issued ASU 2018-13, Technical Corrections and Improvements to Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, which changes the fair value measurement disclosure requirements. The update removes, modifies, and adds certain additional disclosures. On January 1, 2021, the Company adopted ASU 2018-13 with no material impact to its consolidated financial statements.

In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which removes certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences. This guidance also clarifies and simplifies other areas of ASC 740. Certain amendments in this update must be applied on a prospective basis, certain amendments must be applied on a retrospective basis, and certain amendments must be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings/(deficit) in the period of adoption. On January 1, 2021, the Company adopted ASU 2019-12 with no material impact to its consolidated financial position, results of operations or cash flows.

In October 2020, the FASB issued ASU 2020-08, Codification Improvements to Subtopic 310-20 – Receivables – Nonrefundable Fees and Other Costs, which clarifies that a reporting entity should assess whether a callable debt security purchased at a premium is within the scope of ASC 310-20-35-33 each reporting period, which impacts the amortization period for nonrefundable fees and other costs. On January 1, 2021, the Company adopted ASU 2020-08 with no material impact to its consolidated financial statements.

In October 2020, the FASB issued ASU 2020-10, Codification Improvements, which updates various codification topics by clarifying or improving disclosure requirements to align with the SEC’s regulations. On January 1, 2021, the Company adopted ASU 2020-10 with no material impact to its consolidated financial statements.

Recently Issued Accounting Standards

In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40), which updates various codification topics to simplify the accounting guidance for certain financial instruments with characteristics of liabilities and equity, with a specific focus on convertible instruments and the derivative scope exception for contracts in an entity’s own equity and amends the diluted EPS computation for these instruments. ASU 2020-06 is effective for annual and interim reporting periods beginning after December 15, 2021, with early adoption permitted for annual and interim reporting periods beginning after December 15, 2020. The Company will adopt ASU 2020-06 as of the reporting period beginning January 1, 2022. The adoption of this update is not expected to have a material effect on the Company’s consolidated financial statements.

In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options, a consensus of the Emerging Issues Task Force (EITF), to provide explicit guidance on accounting by issuers for modifications or exchanges of freestanding equity-classified written call options that remain equity classified after the modification or exchange. ASU 2021-04 is effective for fiscal years beginning after December 31, 2021. The Company is currently evaluating the impact this update will have on its consolidated financial statements.

In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires an acquirer to account for revenue contracts acquired in a business combination in accordance with Topic 606 as if it had originated the contracts. The acquirer may assess how the acquiree applied Topic 606 to determine what to record for the acquired contracts. This update should lead to recognition and measurement consistent with what’s reported in the acquiree’s financial statements, provided that the acquiree prepared financial statements in accordance with U.S. GAAP. The new standard marks a change from current U.S. GAAP, under which assets and liabilities acquired in a business combination, including contract assets and contract liabilities arising from revenue contracts, are generally recognized at fair value at the acquisition date. ASU 2021-08 is effective for the Company in the fiscal year beginning after December 15, 2022, including interim periods within the fiscal year, and should be applied prospectively to business combinations on or after the effective date of the amendment. Early adoption is permitted, including adoption in an interim period. The Company will adopt ASU 2021-08 as of the reporting period beginning January 1, 2022. The Company is currently evaluating the impact that adopting this new accounting standard would have on its consolidated financial statements.

Management does not believe that any other recently issued, but not yet effective, authoritative guidance, if currently adopted, would have a material impact on the Company’s financial statement presentation or disclosures.

Schedule of Components of Preferred Stock (Details) - USD ($)					1 Months Ended		12 Months Ended
	Dec. 18, 2020	Jun. 28, 2019	Dec. 12, 2018	Aug. 10, 2018	Nov. 11, 2020	Jan. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Preferred stock, components value							$ 13,885,992	$ 18,415,992
Preferred stock, components value							18,415,992
Issuance of Preferred Stock. shares			129,880					230,326
Issuance of Preferred Stock							19,837,757
Conversion of preferred stock into common stock							4,530,000	$ 300,000
Conversion of Series H Preferred Stock into common stock on August 17, 2021								26,953,550
Conversion of Series H Preferred Stock into common stock on November 22, 2021								24,781,742
Conversion of Series H Preferred Stock into common stock on December 21, 2021								24,326,541
Preferred stock, components value							13,885,992	18,415,992
Legal fees and other costs							$ (608,614)	$ (1,313,610)
Series H Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares issued						19,399	19,596	19,399
Preferred stock, components value						$ 19,399,250	$ 13,717,496	$ 18,247,496	$ 18,045,496
Stock issuance cost				$ (1,353,754)		(1,353,754)
Preferred stock, components value						18,045,496	$ 18,247,496	$ 18,045,496
Issuance of Preferred Stock. shares								108
Issuance of Preferred Stock								$ 130,896
Stock issuance cost								(17,896)
Net proceeds received upon issuance of preferred stock				$ 18,045,496				$ 113,000
Conversion of preferred stock into common stock, shares							(4,530)	(300)
Conversion of preferred stock into common stock							$ (4,530,000)	$ (300,000)
Issuance of preferred stock upon conversion, shares								389
Issuance of preferred stock upon conversion								$ 389,000
Net issuance of Preferred Stock, shares								197
Net issuance of Preferred Stock								$ 202,000
Conversion of Series H Preferred Stock into common stock on August 17, 2021, shares							(50)
Conversion of Series H Preferred Stock into common stock on August 17, 2021							$ (50,000)
Conversion of Series H Preferred Stock into common stock on November 22, 2021,shares							(4,011)
Conversion of Series H Preferred Stock into common stock on November 22, 2021							$ (4,011,000)
Conversion of Series H Preferred Stock into common stock on December 21, 2021,shares							(469)
Conversion of Series H Preferred Stock into common stock on December 21, 2021							$ (469,000)
Preferred stock, shares issued							15,066	19,596	19,399
Preferred stock, components value						19,399,250	$ 13,717,496	$ 18,247,496	$ 18,045,496
Series I Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares issued
Preferred stock, components value									19,699,742
Stock issuance cost									$ (1,459,858)
Preferred stock, components value						$ 19,699,742		$ 19,699,742
Issuance of Preferred Stock. shares									23,100
Issuance of Preferred Stock									$ 23,100,000
Net proceeds received upon issuance of preferred stock		$ 23,100,000
Conversion of preferred stock into common stock, shares								(23,100)
Conversion of preferred stock into common stock								$ (19,699,742)
Preferred stock, shares issued		23,100
Preferred stock, components value									19,699,742
Less Liquidated Damages recognized upon issuance									(1,940,400)
Total issuance costs and Liquidated Damages									(3,400,258)
Series J Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares issued
Preferred stock, components value
Stock issuance cost									$ (580,004)
Preferred stock, components value
Issuance of Preferred Stock. shares								10,500	20,000
Issuance of Preferred Stock								$ 6,000,000	$ 20,000,000
Conversion of preferred stock into common stock, shares								(30,500)
Conversion of preferred stock into common stock								$ (23,739,996)
Preferred stock, shares issued
Preferred stock, components value
Less Liquidated Damages recognized upon issuance									(1,680,000)
Total issuance costs and Liquidated Damages									(2,260,004)
Net issuance of Series H Preferred Stock									$ 17,739,996
Issuance of preferred stock upon conversion, shares								30,500
Issuance of preferred stock upon conversion								$ 23,739,996
Series K Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares issued
Preferred stock, components value
Stock issuance cost								$ (560,500)
Preferred stock, components value
Issuance of Preferred Stock. shares								18,042
Issuance of Preferred Stock								$ 18,042,000
Net proceeds received upon issuance of preferred stock					$ 18,042,000			$ 14,675,000
Conversion of preferred stock into common stock, shares								(18,042)
Conversion of preferred stock into common stock								$ (17,481,500)
Preferred stock, shares issued					18,042
Preferred stock, components value
Issuance of preferred stock upon conversion, shares								18,042
Issuance of Preferred Stock on October 23, 2020, shares								6,750
Issuance of Preferred Stock on October 23, 2020								$ 6,750,000
Issuance of Series K Preferred Stock on October 28, 2020, shares								5,292
Issuance of Series K Preferred Stock on October 28, 2020								$ 5,292,000
Issuance of Series K Preferred Stock on November 11, 2020, shares								6,000
Issuance of Series K Preferred Stock on November 11, 2020								$ 6,000,000
Cash paid to B. Riley FBR as placement fee								(440,500)
Legal fees and other costs								(120,000)
Issuance of preferred stock upon conversion	$ 9,472,050							$ 17,481,500

Stockholders’ Deficiency

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Stockholders’ Deficiency

21. Stockholders’ Deficiency

Common Stock

The Company has the authority to issue 1,000,000,000 shares of common stock, $0.01 par value per share as the result of filing on December 18, 2020, a Certificate of Amendment with the Secretary of the State of Delaware to increase the number of authorized shares of its common stock from 100,000,000 shares to 1,000,000,000 shares.

Common Stock Private Placement

Private Placement – On May 20, 2021 and May 25, 2021, the Company entered into securities purchase agreements with several accredited investors, pursuant to which the Company sold an aggregate of 974,351 shares of its common stock, at a per share price of $15.40 for aggregate gross proceeds of $15,005,000 in a private placement. On June 2, 2021, the Company entered into a securities purchase agreement with an accredited investor, pursuant to which the Company sold an aggregate of 324,676 shares of its common stock, at a per share price of $15.40 for gross proceeds of $5,000,000 in a private placement that was in addition to the closings that occurred on May 20, 2021 and May 25, 2021. After payment of legal fees and expenses the investors of $167,243, of which $100,000 was paid in cash to B. Riley, the Company received net proceeds of $19,837,757. The Company used the proceeds for general corporate purposes.

Pursuant to the registration rights agreements entered into in connection with the securities purchase agreements, the Company agreed to register the shares of the Company’s common stock issued in the private placements. The Company registered those shares of the Company’s common stock issued in the private placements on behalf of the selling stockholders that notified the Company that they wanted to have their shares registered by filing a registration statement, which was declared effective by the SEC on November 29, 2021.

The security purchase agreements included a provision that requires the Company to maintain its periodic filings with the SEC in order to satisfy the public information requirements under Rule 144(c) of the Securities Act. If the Company fails for any reason to satisfy the current public information requirement at any time during the period commencing from the twelve (12) month anniversary of the date the Company becomes current in its filing obligations and ending at such time that all of the common stock may be sold without the requirement for the Company to be in compliance with Rule 144(c)(1) and otherwise without restriction or limitation pursuant to Rule 144, if the Company (i) shall fail for any reason to satisfy the current public information requirement under Rule 144(c) or (ii) has ever been an issuer described in Rule 144(i)(1)(i) or becomes an issuer in the future, and the Company shall fail to satisfy any condition set forth in Rule 144(i)(2) (a “Public Information Failure”) then, in addition to such purchaser’s other available remedies, the Company shall pay to a purchaser, in cash, as partial liquidated damages and not as a penalty, an amount in cash equal to one percent (1.0%) of the aggregate subscription amount of the purchaser’s shares then held by the purchaser on the day of a Public Information Failure and on every thirtieth (30th) day (pro-rated for periods totaling less than thirty days) thereafter until the earlier of (a) the date such Public Information Failure is cured up to a maximum of five (5) 30-day periods and (b) such time that such public information is no longer required for the purchasers to transfer the shares pursuant to Rule 144. Public Information Failure Damages shall be paid on the earlier of (i) the last day of the calendar month during which such Public Information Failure Damages are incurred and (ii) the third (3rd) business day after the event or failure giving rise to the Public Information Failure Damages is cured. In the event the Company fails to make Public Information Failure Damages in a timely manner, such Public Information Failure Damages shall bear interest at the rate of 1.0% per month (prorated for partial months) until paid in full.

LiftIgniter – In connection with the asset acquisition of LiftIgniter, the Company issued 11,667 shares of the Company’s common stock pursuant to the restricted stock units granted at the acquisition date.

Professional Services – In connection with entering into a services agreement, the Company issued 14,205 shares of the Company’s common stock that were recorded at the trading price of the Company’s at the issuance date of $8.80 on January 21, 2021.

Common Stock to be Issued

In connection with the merger of Say Media on December 12, 2018, the Company issued 129,880 shares of the Company’s common stock during the year ended December 31, 2020 out of the total shares required to be issued of 230,326. As of December 31, 2021 and 2020, 46,406 shares of the Company’s common stock have not been issued and are to be issued.

In connection with a closing of a private placement on January 4, 2018, MDB, as the placement agent, was entitled to receive 2,728 shares of the Company’s common stock that have not been issued as of December 31, 2021 and 2020. Further, the 2,728 shares of common stock to be issued were subject to Liquidated Damages (see Note 15).

Restricted Stock Awards

On January 1, 2020, the Company issued 25,569 shares of its common stock as restricted stock awards to certain members of the Board subject to continued service with the Company. The awards vest over a twelve-month period from the grant date and the estimated fair value of these shares is being recognized as compensation expense over the vesting period of the award (see Note 22).

On December 31, 2020, the Company modified certain restricted stock awards and units, which were previously issued to certain employees in connection with the HubPages merger, where the Company agreed to repurchase the underlying common stock of the restricted stock awards at a specified price and forfeited any unvested awards. Pursuant to certain terms of the amendment, the Company agreed to repurchase 48,389 shares of the Company’s stock that were issued as restricted stock awards and forfeited the restricted stock units (as further described in Note 12).

The terms under which the restricted stock awards and units were granted are summarized as follows:

	●	The Company issued a total of 109,091 shares of common stock to certain key personnel of HubPages who agreed to continue their employment, as restricted stock awards, subject to a repurchase right and vesting in connection with the merger that were fair valued upon issuance by an independent appraisal firm;

	●	The repurchase right, which expired in March 2019 unexercised, gave the Company the option to repurchase a certain number of shares at par value based on a performance condition as defined in the terms of the merger agreement;

	●	The shares were subject to vesting over twenty-four equal monthly installments beginning September 23, 2019, and ending September 23, 2021;

	●	The restricted stock awards provided for a true-up period (in general, the true-up period was for 13 months after the consummation of the merger until 90 days following completion of vesting, or July 30, 2021) that if the common stock was sold for less than $2.50 the holder would receive, subject to certain conditions, additional shares of common stock (i.e. the restricted stock units) up to a maximum of the number of shares originally received (or 109,091 in aggregate to all holders) for the shares that re-sold for less than $2.50, which was settled on May 31, 2019 (as further described in Note 22);

During the year ended December 31, 2021, the Company issued an aggregate of 48,856 shares of its common stock as restricted stock awards to certain members of the Board subject to continued service with the Company. The awards generally vest over a twelve-month period (or shorter if granted after January 1, 2021 so that the awards are fully vested as of December 31, 2021) from the grant date and the estimated fair value of these shares is being recognized as compensation expense over the vesting period of the award (see Note 22).

On June 4, 2021, in connection with the merger of The Spun, the Company issued an aggregate of 194,806 restricted stock awards of the Company’s common stock, with one-half of the shares vesting on the first anniversary of the closing date and the remaining one-half of the shares vesting on the second anniversary of the closing date. The vesting of the restricted stock awards are subject to the continued employment of certain selling employees and the estimated fair value of these awards are being recognized as compensation expense over the vesting period of the award (see Note 22).

Unless otherwise stated, the fair value of a restricted stock award is determined based on the number of shares granted and the quoted price of the Company’s common stock on the date issued.

A summary of the restricted stock award activity during the years ended December 31, 2021 and 2020 is as follows:

							Weighted Average
	Number of Shares						Grant-Date
	Unvested			Vested			Fair Value
Restricted stock awards outstanding at January 1, 2020		108,713			77,077		$	12.32
Issued		25,569			-			10.56
Vested		(101,706	)		101,706
Subject to repurchase		-			(48,389	)
Forfeited		(18,182	)		(33,947	)
Restricted stock awards outstanding at December 31, 2020		14,394			96,447			9.24
Issued		243,662			-			16.15
Vested		(56,415	)		56,415
Exchange of shares		-			(4,035	)
Forfeited		(6,835	)		(4,355	)
Restricted stock awards outstanding at December 31, 2021		194,806			144,472			14.93

The Company permitted an exchange of 4,035 shares from vested restricted stock awards for the exercise of 7,893 common stock options (issued under the 2019 Plan, see Note 22) for the recorded net exercise of common stock options of 3,858 shares during the year ended December 31, 2021, on the consolidated statements of stockholders’ deficiency.

The Company recorded forfeited unvested restricted stock awards and/or forfeited vested restricted stock awards used for tax withholding of 11,190 (6,835 forfeited awards and 4,355 used for tax withholding) and 52,129 (18,182 forfeited awards and 33,947 used for tax withholding) during the years ended December 31, 2021 and 2020, respectively, on the consolidated statements of stockholders’ deficiency.

On October 7, 2021, the Company modified certain restricted stock awards upon the resignation of certain board members from the Board as follows:

●

18,940 restricted stock awards that were issued to certain members of the Board were modified to accelerate the vesting upon resignation from the Board, resulting in incremental cost of $41,667 (recognized at the modification date).

On December 11, 2019, the Company modified the vesting provisions of 90,910 restricted stock awards, issued in connection with the Say Media merger, to remove certain repurchase rights, such that they will vest six equal installments at four-month intervals on the twelfth of each month, starting on December 12, 2019, with the final vesting date on August 12, 2021. Compensation expense was recognized over the vesting period of the awards.

Information with respect to stock-based compensation cost and unrecognized stock-based compensation cost related to the restricted stock awards is provided under the heading Stock-Based Compensation in Note 22.

Common Stock Warrants

Warrants issued to purchase shares of the Company’s common stock to MDB, L2, Strome, and B. Riley (collectively the “Financing Warrants”) are described below.

MDB Warrants – On October 19, 2017, the Company issued warrants to MDB (the “MDB Warrants”) who acted as placement agent in connection with a private placement of its common stock, to purchase 5,435 shares of common stock. The warrants have an exercise price of $25.30 per share, subject to customary anti-dilution adjustments and exercisable for a period of five years.

On January 4, 2018, the Company issued warrants to MDB which acted as placement agent in connection with a private placement of its common stock, to purchase 2,728 shares of common stock. The warrants have an exercise price of $55.00 per share, subject to customary anti-dilution adjustments, and may, in the event there is no effective registration statement covering the re-sale of the warrant shares, be exercised on a cashless basis, exercisable for a period of five years.

MDB Warrants exercisable for a total of 8,163 shares of the Company’s common stock were outstanding as of December 31, 2021 (as further detailed below).

Strome Warrants – On June 15, 2018, the Company modified the two securities purchase agreements dated January 4, 2018 and March 30, 2018 with Strome Mezzanine Fund LP (“Strome”). As consideration for such modification, the Company issued warrants to Strome (the “Strome Warrants”) to purchase 68,182 shares of common stock, exercisable at price of $11.00 per share (as amended), which were carried on the consolidated balance sheets as a derivative liability at fair value, as adjusted at each period-end since, among other criteria, delivery of unregistered shares was precluded upon exercise (see Note 17).

The Strome Warrants are exercisable for a period of five years, subject to customary anti-dilution adjustments, and may, in the event there is no effective registration statement covering the resale of the warrant shares, be exercised on a cashless basis in certain circumstances.

B. Riley Warrants – On October 18, 2018, the Company issued warrants to B. Riley (the “B. Riley Warrants”) to purchase up to 39,773 shares of the Company’s common stock, with an original exercise price of $22.00 per share (subsequently adjusted to $7.26), subject to customary anti-dilution adjustments, which were carried on the consolidated balance sheets as a derivative liability at fair value, as adjusted at each period-end since, among other criteria, delivery of unregistered shares was precluded upon exercise (see Note 17).

The B. Riley Warrants are exercisable for a period of five years, subject to customary anti-dilution adjustments, and may, in the event, at any time after the six-month anniversary of the issuance of the warrants, if there is no effective registration statement covering the re-sale of the shares of common stock underlying the warrants, the warrants may be exercised on a cashless basis.

A summary of the Financing Warrants activity during the years ended December 31, 2021 and 2020 is as follows:

Summary of Warrant Activity

						Weighted
						Average
				Weighted		Remaining
	Number			Average		Contractual
	of			Exercise		Life
	Shares			Price		(in Years)
Financing Warrants outstanding at January 1, 2020		131,004		$	17.60		3.95
Financing Warrants outstanding at December 31, 2020		131,004			13.20		2.94
Expired		(14,886	)		4.40
Financing Warrants outstanding at December 31, 2021		116,118			14.08		2.21
Financing Warrants exercisable at December 31, 2021		116,118			14.08		2.21

The intrinsic value of exercisable but unexercised in-the-money Financing Warrants as of December 31, 2021 was $481,253, based on a fair market value of the Company’s common stock of $14.08 per share on December 31, 2021.

The Financing Warrants outstanding and exercisable classified within the statement of stockholders’ deficiency as of December 31, 2021 are summarized as follows:

	Exercise Price		Expiration Date	Total Exercisable (Shares)
Strome Warrants	$	11.00	June 15, 2023		68,182
B. Riley Warrants		7.26	October 18, 2025		39,773
MDB Warrants		25.30	October 19, 2022		5,435
MDB Warrants		55.00	October 19, 2022		2,728
Total outstanding and exercisable					116,118

AllHipHop Warrants – On October 26, 2020, the Company exchanged 6,819 of Publisher Partner Warrants (as further described under the heading Publisher Partner Warrants) granted to AllHipHop, LLC (“AllHipHop”) for shares of the Company’s common stock that were originally granted on December 20, 2017 with an exercise price of $45.76, for an aggregate of 5,681 new warrants for shares of the Company’s common stock with an exercise price of $14.30 (the “AllHipHop Warrants”) for the surrender and termination of the original warrants granted (the “Exchange”) (further details are provided in Note 22).

The AllHipHop Warrants are exercisable for a period of five years, subject to customary anti-dilution adjustments, and may be exercised on a cashless basis.

Publisher Partner Warrants – On December 19, 2016, the Board approved up to 227,273 stock warrants to issue shares of the Company’s common stock to provide equity incentive to its Publisher Partners (the “Publisher Partner Warrants”) to motivate and reward them for their services to the Company and to align the interests of the Publisher Partners with those of stockholders of the Company. On August 23, 2018, the Board approved a reduction of the number of warrant reserve shares from 227,273 to 90,910. The issuance of the Publisher Partner Warrants is administered by management and approved by the Board.

Information with respect to stock-based compensation cost and unrecognized stock-based compensation cost related to the Publisher Partner Warrants is provided in Note 22.

ABG Warrants – On June 14, 2019, the Company issued 999,540 warrants to acquire the Company’s common stock to ABG in connection with the Sports Illustrated Licensing Agreement, expiring in ten years. Half the warrants have an exercise price of $9.24 per share (the “$9.24 Warrants”). The other half of the warrants have an exercise price of $18.48 per share (the “$18.48 Warrants”). The warrants provide for the following: (1) 40% of the $9.24 Warrants and 40% of the $18.48 Warrants vest in equal monthly increments over a period of two years beginning on the one year anniversary of the date of issuance of the warrants (any unvested portion of such warrants to be forfeited by ABG upon certain terminations by the Company of the Sports Illustrated Licensing Agreement) (the “Time-Based Warrants”); (2) 60% of the $9.24 Warrants and 60% of the $18.48 Warrants vest based on the achievement of certain performance goals for the licensed brands in calendar years 2020, 2021, 2022, or 2023; (3) under certain circumstances the Company may require ABG to exercise all (and not less than all) of the warrants, in which case all of the warrants will be vested; (4) all of the warrants automatically vest upon certain terminations of the Licensing Agreement by ABG or upon a change of control of the Company (the “Performance-Based Warrants”); and (5) ABG has the right to participate, on a pro-rata basis (including vested and unvested warrants, exercised or unexercised), in any future equity issuance of the Company (subject to customary exceptions).

On June 4, 2021, the Company amended certain ABG Warrants in exchange for additional benefits under the Sports Illustrated licensing agreement as follows:

	●	The exercise price of 99,954 Time-Based Warrants (50% of the original warrants granted totaling 199,908) were adjusted from $18.48 to $7.26 per share as adjusted for any stock splits, combinations, stock dividends, reclassifications, recapitalizations and other similar events, resulting in incremental cost of $417,807 (to be recognized over the remaining vesting period, or through June 14, 2022) measured by an independent appraisal by calculating the fair value of the amended warrant over the calculated fair value of the original warrant immediately before the modification, with the excess fair value of the amended warrant recognized as additional compensation cost at the modification date, or the incremental cost, since the modification did not change the expectation that the award would ultimately vest (probable-to-probable).

	●	The exercise price of 149,931 Performance-Based Warrants (50% of the original warrants granted totaling 299,862) were adjusted from $18.48 to $9.24 per share as adjusted for any stock splits, combinations, stock dividends, reclassifications, recapitalizations and other similar events, resulting in incremental cost of $618,465 (to be recognized over the remaining vesting period, or through December 31, 2023) measured by an independent appraisal by calculating the fair value of the amended warrant over the calculated fair value of the original warrant immediately before the modification, with the excess fair value of the amended warrant recognized as additional compensation cost at the modification date, or the incremental cost, since the modification did not change the expectation that the award would ultimately vest (probable-to-probable).

Information with respect to stock-based compensation cost and unrecognized stock-based compensation cost related to the ABG Warrants is provided in Note 22.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690