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Restatement for Correction of an Error (Tables) (FaceBank Group, Inc. Pre-Merger) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2020 | Dec. 31, 2019
FaceBank Group, Inc Pre-Merger [Member] |  |
Schedule of Restatement of Consolidated Balance Sheets and Operations | Restated consolidated balance sheets and consolidated statements of operations as of and for the three months ended March 31, 2020 are as follows:
|  | March 31, 2020 (unaudited) as Previously Reported |  |  | Effect of Restatement (unaudited) |  |  | March 31, 2020 (unaudited) as Restated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Total current assets |  |  | 10,211 |  |  |  | - |  |  |  | 10,211 |
|  |  |  |  |  |  |  |  |  |  | - |
Deposits |  |  | 24 |  |  |  | - |  |  |  | 24 |
Investment in Nexway at fair value |  |  | 2,374 |  |  |  | - |  |  |  | 2,374 |
Financial assets at fair value |  |  | 1,965 |  |  |  | - |  |  |  | 1,965 |
Intangible assets |  |  | 111,459 |  |  |  | - |  |  |  | 111,459 |
Goodwill |  |  | 148,054 |  |  |  | 28,541 |  |  |  | 176,595 |
Right-of-use assets |  |  | 37 |  |  |  | - |  |  |  | 37 |
Total assets |  | $ | 274,124 |  |  | $ | 28,541 |  |  | $ | 302,665 |
|  |  |  |  |  |  |  |  |  |  | - |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  | - |
Total current liabilities |  |  | 41,601 |  |  |  | - |  |  |  | 41,601 |
Total liabilities |  |  | 125,411 |  |  |  | - |  |  |  | 125,411 |
|  |  |  |  |  |  |  |  |  |  | - |
COMMITMENTS AND CONTINGENCIES (Note 15) |  |  |  |  |  |  |  |  |  |  | - |
|  |  |  |  |  |  |  |  |  |  | - |
Series D Convertible Preferred stock, par value $0.0001, 2,000,000 shares authorized, 461,839 shares issued and outstanding as of March 31, 2020; aggregate liquidation preference of $463 as of March 31, 2020 |  |  | 463 |  |  |  | - |  |  |  | 463 |
|  |  |  |  |  |  |  |  |  |  | - |
Stockholders’ equity: |  |  |  |  |  |  |  |  |  |  | - |
Common stock par value $0.0001: 400,000,000 shares authorized; 32,307,663 shares issued and outstanding at March 31, 2020 |  |  | 3 |  |  |  | - |  |  |  | 3 |
Additional paid-in capital |  |  | 270,397 |  |  |  | - |  |  |  | 270,397 |
Accumulated deficit |  |  | (140,134 | ) |  |  | 28,541 |  |  |  | (111,593 | )
Non-controlling interest |  |  | 17,984 |  |  |  | - |  |  |  | 17,984 |
Total stockholders’ equity |  |  | 148,250 |  |  |  | 28,541 |  |  |  | 176,791 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY AND TEMPORARY EQUITY |  | $ | 274,124 |  |  | $ | 28,541 |  |  | $ | 302,665 |
|  | For the Three Months Ended March 31, 2020 as Previously Reported (unaudited) |  |  | Effect of Restatement (unaudited) |  |  | For the Three Months Ended March 31, 2020 as Restated (unaudited) |
Operating loss |  |  | (18,128 | ) |  |  | - |  |  |  | (18,128 | )
|  |  |  |  |  |  |  |  |  |  | - |
Other income (expense) |  |  |  |  |  |  |  |  |  |  | - |
Interest expense and financing costs |  |  | (2,581 | ) |  |  | - |  |  |  | (2,581 | )
Gain (loss) on deconsolidation of Neway |  |  | 39,249 |  |  |  | (51,168 | ) |  |  | (11,919 | )
Loss of issuance of notes, bonds & warrants |  |  | (24,053 | ) |  |  | - |  |  |  | (24,053 | )
Other expense |  |  | (436 | ) |  |  | - |  |  |  | (436 | )
Change in fair value of warrant liability |  |  | (366 | ) |  |  | - |  |  |  | (366 | )
Change in fair value of subsidiary warrant liability |  |  | (15 | ) |  |  | - |  |  |  | (15 | )
Change in fair value of shares settled liability |  |  | (180 | ) |  |  | - |  |  |  | (180 | )
Change in fair value of derivative liability |  |  | 297 |  |  |  | - |  |  |  | 297 |
Total other income (expense) |  |  | 11,915 |  |  |  | (51,168 | ) |  |  | (39,253 | )
Loss before income taxes |  |  | (6,213 | ) |  |  | (51,168 | ) |  |  | (57,381 | )
Income tax benefit |  |  | (1,038 | ) |  |  | - |  |  |  | (1,038 | )
Net loss |  |  | (5,175 | ) |  |  | (51,168 | ) |  |  | (56,343 | )
Less: net loss attributable to non-controlling interest |  |  | 873 |  |  |  | - |  |  |  | 873 |
Net loss attributable to controlling interest |  | $ | (4,302 | ) |  | $ | (51,168) |  |  | $ | (55,470 | )
Less: Deemed dividend - beneficial conversion feature on preferred stock |  |  | (171 | ) |  |  | - |  |  |  | (171 | )
Net loss attributable to common stockholders |  | $ | (4,473 | ) |  | $ | (51,168) |  |  | $ | (55,641 | )
Net loss per share attributable to common stockholders |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted |  | $ | (0.15 | ) |  |  |  |  |  | $ | (1.83 | )
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted |  |  | 30,338,073 |  |  |  | - |  |  |  | 30,338,073 |
| Restated consolidated balance sheets and consolidated statements of operations as of and for the year ended December 31, 2019 are as follows:
|  | December 31, 2019 as Previously Reported |  |  | Effect of Restatement |  |  | December 31, 2019 as Restated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 7,624 |  |  | $ | - |  |  | $ | 7,624 |
Accounts receivable, net |  |  | 8,904 |  |  |  | - |  |  |  | 8,904 |
Inventory |  |  | 49 |  |  |  | - |  |  |  | 49 |
Prepaid expenses |  |  | 1,396 |  |  |  | - |  |  |  | 1,396 |
Total current assets |  |  | 17,973 |  |  |  | - |  |  |  | 17,973 |
|  |  |  |  |  |  |  |  |  |  | - |
Property and equipment, net |  |  | 335 |  |  |  | - |  |  |  | 335 |
Deposits |  |  | 24 |  |  |  | - |  |  |  | 24 |
Financial assets at fair value |  |  | 1,965 |  |  |  | - |  |  |  | 1,965 |
Intangible assets |  |  | 116,646 |  |  |  | - |  |  |  | 116,646 |
Goodwill |  |  | 148,054 |  |  |  | 79,709 |  |  |  | 227,763 |
Right-of-use assets |  |  | 3,519 |  |  |  | - |  |  |  | 3,519 |
Total assets |  | $ | 288,516 |  |  | $ | 79,709 |  |  | $ | 368,225 |
|  |  |  |  |  |  |  |  |  |  | - |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  | - |
Current liabilities |  |  |  |  |  |  |  |  |  |  | - |
Accounts payable |  |  | 36,373 |  |  |  | - |  |  |  | 36,373 |
Accrued expenses |  |  | 20,402 |  |  |  | - |  |  |  | 20,402 |
Due to related parties |  |  | 665 |  |  |  | - |  |  |  | 665 |
Note payable |  |  | 4,090 |  |  |  | - |  |  |  | 4,090 |
Notes payable - related parties |  |  | 368 |  |  |  | - |  |  |  | 368 |
Convertible notes, net of $710 and $456 discount as of December 31, 2019 and 2018, respectively |  |  | 1,358 |  |  |  | - |  |  |  | 1,358 |
Convertible notes - related parties |  |  | - |  |  |  | - |  |  |  | - |
Shares settled liability for intangible asset |  |  | 1,000 |  |  |  | - |  |  |  | 1,000 |
Profit share liability |  |  | 1,971 |  |  |  | - |  |  |  | 1,971 |
Warrant liability - subsidiary |  |  | 24 |  |  |  | - |  |  |  | 24 |
Derivative liability |  |  | 376 |  |  |  | - |  |  |  | 376 |
Current portion of lease liability |  |  | 815 |  |  |  | - |  |  |  | 815 |
Total current liabilities |  |  | 67,442 |  |  |  | - |  |  |  | 67,442 |
|  |  |  |  |  |  |  |  |  |  | - |
Deferred income taxes |  |  | 30,879 |  |  |  | - |  |  |  | 30,879 |
Other long-term liabilities |  |  | 41 |  |  |  | - |  |  |  | 41 |
Lease liability |  |  | 2,705 |  |  |  | - |  |  |  | 2,705 |
Long term borrowings |  |  | 43,982 |  |  |  | - |  |  |  | 43,982 |
Total liabilities |  |  | 145,049 |  |  |  | - |  |  |  | 145,049 |
|  |  |  |  |  |  |  |  |  |  | - |
COMMITMENTS AND CONTINGENCIES (Note 15) |  |  |  |  |  |  |  |  |  |  | - |
|  |  |  |  |  |  |  |  |  |  | - |
Series D Convertible Preferred stock, par value $0.0001, 2,000,000 shares authorized, 461,839 shares issued and outstanding as of December 31, 2019; aggregate liquidation preference of $462 as of December 31, 2019 |  |  | 462 |  |  |  | - |  |  |  | 462 |
|  |  |  |  |  |  |  |  |  |  | - |
Stockholders’ equity: |  |  |  |  |  |  |  |  |  |  | - |
Series A Preferred stock, par value $0.0001, 5,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2019 and 2018, respectively |  |  | - |  |  |  | - |  |  |  | - |
Series B Convertible Preferred stock, par value $0.0001, 1,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2019 and 2018, respectively |  |  | - |  |  |  | - |  |  |  | - |
Series C Convertible Preferred stock, par value $0.0001, 41,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2019 and 2018, respectively |  |  | - |  |  |  | - |  |  |  | - |
Series X Convertible Preferred stock, par value $0.0001, 1,000,000 shares authorized, 0 and 1,000,000 shares issued and outstanding as of December 31, 2019 and 2018, respectively |  |  | - |  |  |  | - |  |  |  | - |
Common stock par value $0.0001: 400,000,000 shares authorized; 28,912,500 shares issued and 7,532,776 shares outstanding at December 31, 2019 and 2018, respectively |  |  | 3 |  |  |  | - |  |  |  | 3 |
Additional paid-in capital |  |  | 257,002 |  |  |  | - |  |  |  | 257,002 |
Accumulated deficit |  |  | (135,832 | ) |  |  | 79,709 |  |  |  | (56,123 | )
Non-controlling interest |  |  | 22,602 |  |  |  | - |  |  |  | 22,602 |
Accumulated other comprehensive loss |  |  | (770 | ) |  |  | - |  |  |  | (770 | )
Total stockholders’ equity |  |  | 143,005 |  |  |  | 79,709 |  |  |  | 222,714 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY AND TEMPORARY EQUITY |  | $ | 288,516 |  |  | $ | 79,709 |  |  | $ | 368,225 |
|  | For the Year Ended December 31, 2019 as Previously Reported |  |  | Effect of Restatement |  |  | For the Year Ended December 31, 2019 as Restated |
Revenues |  |  |  |  |  |  |  |  |  |  |  |
Revenues, net |  | $ | 4,271 |  |  | $ | - |  |  | $ | 4,271 |
Total revenues |  |  | 4,271 |  |  |  | - |  |  |  | 4,271 |
Operating expenses |  |  |  |  |  |  |  |  |  |  | - |
General and administrative |  |  | 13,793 |  |  |  | - |  |  |  | 13,793 |
Amortization of intangible assets |  |  | 20,682 |  |  |  | - |  |  |  | 20,682 |
Impairment of intangible assets |  |  | 8,598 |  |  |  | - |  |  |  | 8,598 |
Impairment of goodwill |  |  | 74,441 |  |  |  | (74,441 | ) |  |  | - |
Depreciation |  |  | 83 |  |  |  | - |  |  |  | 83 |
Total operating expenses |  |  | 117,597 |  |  |  | (74,441 | ) |  |  | 43,156 |
Operating loss |  |  | (113,326 | ) |  |  | 74,441 |  |  |  | (38,885 | )
|  |  |  |  |  |  |  |  |  |  | - |
Other income (expense) |  |  |  |  |  |  |  |  |  |  | - |
Interest expense and financing costs |  |  | (2,062 | ) |  |  | - |  |  |  | (2,062 | )
Gain on extinguishment of convertible notes |  |  | - |  |  |  | - |  |  |  | - |
Loss on investments |  |  | (13,549 | ) |  |  | 5,268 |  |  |  | (8,281 | )
Foreign currency loss |  |  | (18 | ) |  |  | - |  |  |  | (18 | )
Other expense |  |  | 726 |  |  |  | - |  |  |  | 726 |
Change in fair value of subsidiary warrant liability |  |  | 4,504 |  |  |  | - |  |  |  | 4,504 |
Change in fair value of derivative liability |  |  | 815 |  |  |  | - |  |  |  | 815 |
Change in fair value of Panda interests |  |  | (198 | ) |  |  | - |  |  |  | (198 | )
Total other income (expense) |  |  | (9,782 | ) |  |  | 5,268 |  |  |  | (4,514 | )
Loss before income taxes |  |  | (123,108 | ) |  |  | 79,709 |  |  |  | (43,399 | )
Income tax benefit |  |  | (5,272 | ) |  |  | - |  |  |  | (5,272 | )
Net loss |  |  | (117,836 | ) |  |  | 79,709 |  |  |  | (38,127 | )
Less: net loss attributable to non-controlling interest |  |  | 3,767 |  |  |  | - |  |  |  | 3,767 |
Net loss attributable to controlling interest |  | $ | (114,069 | ) |  | $ | 79,709 |  |  | $ | (34,360 | )
Less: Deemed dividend on Series D Preferred stock |  |  | (9 | ) |  |  | - |  |  |  | (9 | )
Less: Deemed dividend - beneficial conversion feature on preferred stock |  |  | (589 | ) |  |  | - |  |  |  | (589 | )
Net loss attributable to common stockholders |  | $ | (114,667 | ) |  | $ | 79,709 |  |  | $ | (34,958 | )
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment |  |  | (770 | ) |  |  | - |  |  |  | (770 | )
Comprehensive loss |  | $ | (115,437 | ) |  | $ | 79,709 |  |  | $ | (35,728 | )
Net loss per share attributable to common stockholders |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted |  | $ | (5.15 | ) |  |  |  |  |  | $ | (1.57 | )
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted |  |  | 22,286,060 |  |  |  | - |  |  |  | 22,286,060 |

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794 + Details
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