XML 51 R33.htm IDEA: XBRL DOCUMENT v3.21.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Benefit of Income Taxes

The benefit of income taxes for the years ended December 31, 2020 and 2019 consist of the following (in thousands):

		For the Years Ended December 31,
		2020				2019
U.S. Federal
Current		$	-			$	-
Deferred			7,930				4,302
State and local
Current			-				-
Deferred			1,730				970
Valuation allowance			-				-
Income tax benefit		$	9,660			$	5,272

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the statutory federal rate to the Company’s effective tax rate is as follows:

		December 31,
		2020				2019
Federal rate			21.00	%			21.00	%
State income taxes, net of federal benefit			0.28				4.74
Non-controlling interest			-				(0.82	)
Nexway activity and deconsolidation			(0.40	)			-
Common stock issued for services			-				(0.82	)
Incentive stock options			(0.38	)			-
Change in fair value of derivative, warrant liability, and gain on extinguishment of convertible notes			(3.42	)			1.16
Amortization of debt discount			-				(0.13	)
Loss on investments			-				(1.81	)
Goodwill impairment			(5.10	)			-
Other			(0.12	)			-
Change in valuation allowance			(10.27	)			(9.49	)
Income tax benefit			1.58	%			13.83	%

Schedule of Deferred Tax Assets

The components of our deferred tax assets are as follows ( in thousands):

		December 31,
		2020				2019
Deferred tax assets:
Net operating losses		$	133,281			$	-
Accruals and deferrals			4,419				-
Stock based compensation			6,732				-
Interest expense limitation			4,409				-
Other			1,965				-
Total deferred tax assets			150,806				-
Less: Valuation allowance			(102,869	)			-
Net deferred tax assets		$	47,937			$	-
Deferred tax liabilities:
Intangible assets		$	51,736			$	30,879
Other			1,301				-
Total deferred tax liabilities		$	53,037			$	30,879
Net deferred tax liabilities		$	5,100			$	30,879

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration