XML 38 R16.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2021
Income Taxes [Line Items] |
Income Taxes | 9. Income Taxes The Group is subject to income tax in several jurisdictions of which only Rumble Inc. is subject to Canadian taxes. Rumble Inc.’s combined statutory tax rate is 12.2% (2020 — 12.2%). The difference between the tax calculated on income before income tax according to the statutory tax rate and the amount of the income tax included in the income tax expense is reconciled as follows:
|  |  |  | 2021 |  | 2020
Net loss before income taxes |  | $ | (13,541,416 | ) |  | $ | (1,258,290 | )
Statutory income tax rate |  |  | 12.2 | % |  |  | 12.2 | %
Income tax recovery at statutory income tax rate |  |  | (1,652,053 | ) |  |  | (153,511 | )
Non-deductible expenses |  |  | 659 |  |  |  | 138,319 |
Stock-based compensation |  |  | 172,566 |  |  |  | — |
Change in the fair value of option liability |  |  | 392,143 |  |  |  | — |
Difference in current and deferred income tax rates |  |  | (789,824 | ) |  |  | — |
Difference in Canadian and Foreign income tax rates |  |  | (440,371 | ) |  |  | — |
Business combination |  |  | 338,484 |  |  |  | — |
Other |  |  | (71,855 | ) |  |  | (929 | )
Change in valuation allowance |  |  | 1,922,367 |  |  |  | 14,517 |
|  | $ | (127,884 | ) |  | $ | (1,604 | )
Current tax (expense) recovery |  | $ | 575 |  |  | $ | (1,604 | )
Deferred tax recovery |  | $ | (128,459 | ) |  | $ | — |
Deferred Tax Assets (Liabilities) |  |  |  |  |  |  |  |
Other |  | $ | (8,969 | ) |  | $ | 22,249 |
Non-capital losses |  |  | 1,986,440 |  |  |  | 32,855 |
Valuation allowance |  |  | (1,977,471 | ) |  |  | (55,104 | )
|  | $ | — |  |  | $ | — |
The Company’s non-capital losses expire as follows:
2039 |  | $ | 85,576
2041 |  |  | 3,120,785
No expiry |  |  | 4,668,142
CF ACQUISITION CORP. VI [Member] |
Income Taxes [Line Items] |
Income Taxes | Note 8 — Income Taxes The Company’s taxable income primarily consists of interest income on the Trust Account. The Company’s general and administrative expenses are generally considered start-up costs and are not currently deductible. There was no income tax expense for the year ended December 31, 2021 and for the period from April 17, 2020 (inception) through December 31, 2020. The income tax provision (benefit) consists of the following for the year ended December 31, 2021 and for the period from April 17, 2020 (inception) through December 31, 2020:
|  | For the Year Ended December 31, 2021 |  | For the Period from April 17, 2020 (Inception) through December 31, 2020
Current |  |  |  |  |  |  |
Federal |  | $ | — |  |  | $ | —
State |  |  | — |  |  |  | —
Deferred |  |  |  |  |  |  |
Federal |  |  | (638,081 | ) |  |  | —
State |  |  | — |  |  |  | —
Change in valuation allowance |  |  | 638,081 |  |  |  | —
Income tax provision expense |  | $ | — |  |  | $ | —
The Company’s net deferred tax assets are as follows as of December 31, 2021 and 2020:
|  | December 31,
|  | 2021 |  | 2020
Deferred tax asset |  |  |  |  |  |  |
Startup/Organizational Costs |  | $ | 566,509 |  |  | $ | —
Deferred Compensation |  |  | 33,805 |  |  |  |
Net operating loss carryforwards |  |  | 37,767 |  |  |  | —
Total deferred tax assets |  |  | 638,081 |  |  |  | —
Valuation allowance |  |  | (638,081 | ) |  |  | —
Deferred tax asset, net of allowance |  | $ | — |  |  | $ | —
In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences representing net future deductible amounts become deductible. Management considers the scheduled reversal of deferred tax assets, projected future taxable income and tax planning strategies in making this assessment. After consideration of all of the information available, management believes that significant uncertainty exists with respect to future realization of the deferred tax assets and has therefore established a full valuation allowance. There were no unrecognized tax benefits as of December 31, 2021 and 2020. No amounts were accrued for the payment of interest and penalties as of December 31, 2021 and 2020. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities since inception. A reconciliation of the statutory federal income tax rate (benefit) to the Company’s effective tax rate (benefit) is as follows for the year ended December 31, 2021 and for the period from April 17, 2020 (inception) through December 31, 2020:
|  | For the Year Ended December 31, 2021 |  | For the Period from April 17, 2020 (Inception) through December 31, 2020
Statutory Federal income tax rate |  | 21.0 | % |  | — | %
Change in fair value of warrant liability |  | (12.2 | )% |  | — |
Change in fair value of FPS liability |  | (5.2 | )% |  | — |
Change in valuation allowance |  | (3.6 | )% |  | — |
Income Taxes Benefit |  | 0.0 | % |  | 0.0 | %

X
- References No definition available. + Details
Name: | rum_IncomeTaxesLineItems
Namespace Prefix: | rum_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI https://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: 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(h)(2)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | srt_ConsolidatedEntitiesAxis=rum_CFACQUISITIONCORPVIMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |