XML 48 R30.htm IDEA: XBRL DOCUMENT

FaceBank AG and Nexway - Disposition (Tables)

12 Months Ended

Dec. 31, 2020

Facebank Ag And Nexway - Disposition

Schedule of Deconsolidation of Nexway

The deconsolidation of Nexway resulted in a loss of approximately $11.9 million calculated as follows (in thousands):

Cash		$	5,776
Accounts receivable			9,831
Inventory			50
Prepaid expenses			164
Goodwill			51,168
Property and equipment, net			380
Right-of-use assets			3,594
Total assets		$	70,963
Less:
Accounts payable			34,262
Accrued expenses			15,788
Lease liability			3,594
Deferred income taxes			1,161
Other liabilities			40
Total liabilities		$	54,845
Non-controlling interest			2,595
Foreign currency translation adjustment			(770	)
Loss before fair value – investment in Nexway			14,293
Less: fair value of shares owned by the Company			2,374
Loss on deconsolidation of Nexway		$	11,919

Schedule of Net Carrying Value of Investment in Facebank AG and Nexway and Related Gain on Sale of Investment

The following table represents the net carrying value of the Company’s investment in Facebank AG and Nexway and the related gain on sale of its investment (in thousands):

Investment in Nexway		$	4,989
Financial assets at fair value			1,965
Goodwill			28,541
Total assets			35,495
Loan payable			56,140
Net carrying amount			(20,645	)
Issuance of common stock to original owners of Facebank AG			12,395
Cash paid to former owners of Facebank AG			619
Gain on sale of investment in Facebank AG		$	(7,631	)