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Fair Value Measurements (Tables) (FaceBank Group, Inc. Pre-Merger) | 3 Months Ended | 9 Months Ended | 12 Months Ended
--- | --- | --- | ---
Mar. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2019
Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis |  | The following table classifies the Company’s assets and liabilities measured at fair value on a recurring basis into the fair value hierarchy as of September 30, 2020 and December 31, 2019 (in thousands):
|  | Fair valued measured at September 30, 2020 |
|  | Quoted prices in active markets (Level 1) |  |  | Significant other observable inputs (Level 2) |  |  | Significant unobservable inputs (Level 3) |
Financial Liabilities at Fair Value: |  |  |  |  |  |  |  |  |  |  |  |
Profits interest sold |  |  | - |  |  |  | - |  |  |  | 2,119 |
Warrant liability - Subsidiary |  |  | - |  |  |  | - |  |  |  | 21 |
Warrant liability |  |  | - |  |  |  | - |  |  |  | 28,065 |
Total Financial Liabilities at Fair Value |  | $ | - |  |  | $ | - |  |  | $ | 30,205 |
|  | December 31, 2019 |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Financial Assets at Fair Value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial assets at fair value |  | $ | 1,965 |  |  | $ | — |  |  | $ | 1,965 |  |  | $ | — |
Total |  | $ | 1,965 |  |  | $ | — |  |  | $ | 1,965 |  |  | $ | — |
Financial Liabilities at Fair Value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Convertible notes |  | $ | 1,203 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,203 |
Profit share liability |  |  | 1,971 |  |  |  | — |  |  |  | — |  |  |  | 1,971 |
Derivative liability |  |  | 376 |  |  |  | — |  |  |  | — |  |  |  | 376 |
Warrant liability - subsidiary |  |  | 24 |  |  |  | — |  |  |  | — |  |  |  | 24 |
Total |  | $ | 3,574 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,574 |
Schedule of Liability for Derivatives and Warrants |  | The following table presents changes in Level 3 liabilities measured at fair value (in thousands) for the three and nine months ended September 30, 2020. Unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category.
|  | Derivative - Convertible Notes |  |  | Warrants (assumed from subsidiary) |  |  | Profits Interests Sold |  |  | Warrant Liability |  |  | Embedded Put Option |
Fair value at December 31, 2019 |  | $ | 1,203 |  |  | $ | 24 |  |  | $ | 1,971 |  |  | $ | - |  |  | $ | 376 |
Change in fair value |  |  | (206 | ) |  |  | (3 | ) |  |  | 148 |  |  |  | (9,143 | ) |  |  | (220 | )
Additions |  |  | 3,583 |  |  |  | - |  |  |  | - |  |  |  | 50,743 |  |  |  | 172 |
Redemption |  |  | (4,580 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (328 | )
Reclassification of warrant liabilities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (13,535 | ) |  |  | - |
Fair value at September 30, 2020 |  | $ | - |  |  | $ | 21 |  |  | $ | 2,119 |  |  | $ | 28,065 |  |  | $ | - |
Schedule of Fair value of Liability Using Monte Carlo Simulation Model |  | The Company used a Monte Carlo simulation model to estimate the fair value of the warrant liability at September 30, 2020:
|  | September 30, 2020 |
Fair value of underlying common shares |  | $ | 9.00 |
Exercise price |  | $ | 7.00 |
Expected dividend yield |  |  | — | %
Expected volatility |  |  | 73.6 – 74.3 | %
Risk free rate |  |  | 0.12 | %
Expected term (years) |  |  | 1.12 – 1.19 |
The Company used a Monte Carlo simulation model to estimate the fair value of the warrant liability at September 30, 2020:
|  | September 30, 2020 |
Fair value of underlying common shares |  | $ | 9.00 |
Exercise price |  | $ | 9.25 |
Expected dividend yield |  |  | — | %
Expected volatility |  |  | 69.7 – 71.2 - | %
Risk free rate |  |  | 0.12 | %
Expected term (years) |  |  | 1.39 – 1.49 |
FaceBank Group, Inc Pre-Merger [Member] |  |  |
Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis |
|  | Fair valued measured at March 31, 2020 |
|  | Quoted prices in active markets (Level 1) |  |  | Significant other observable inputs (Level 2) |  |  | Significant unobservable inputs (Level 3) |
Financial Assets at Fair Value: |  |  |  |  |  |  |  |  |  |  |  |
Investment in Equity/Debt Funds |  | $ | - |  |  | $ | 1,965 |  |  | $ | - |
Investment in Nexway at fair value |  |  | 2,374 |  |  |  | - |  |  |  | - |
Total Financial Assets at Fair Value |  | $ | 2,374 |  |  | $ | 1,965 |  |  | $ | - |
Financial Liabilities at Fair Value: |  |  |  |  |  |  |  |  |  |  |  |
Derivative liability - convertible notes |  | $ | - |  |  | $ | - |  |  | $ | 1,692 |
Profits interest sold |  |  | - |  |  |  | - |  |  |  | 1,971 |
Embedded put option |  |  | - |  |  |  | - |  |  |  | 389 |
Warrant liability - Subsidiary |  |  | - |  |  |  | - |  |  |  | 39 |
Warrant liability |  |  | - |  |  |  | - |  |  |  | 15,987 |
Total Financial Liabilities at Fair Value |  | $ | - |  |  | $ | - |  |  | $ | 20,078 |
|  | Fair Value measured at December 31, 2019 |
|  | Quoted prices in active markets (Level 1) |  |  | Significant other observable inputs (Level 2) |  |  | Significant unobservable inputs (Level 3) |
Derivative liability – convertible notes |  | $ | - |  |  | $ | - |  |  | $ | 1,203 |
Profits interest |  |  | - |  |  |  | - |  |  |  | 1,971 |
Embedded put option |  |  | - |  |  |  | - |  |  |  | 376 |
Warrant Liability - Subsidiary |  |  | - |  |  |  | - |  |  |  | 24 |
Total Financial Liabilities at Fair Value |  | $ | - |  |  | $ | - |  |  | $ | 3,574 |
|  | Fair Value measured at December 31, 2019 |
|  | Quoted prices in active markets (Level 1) |  |  | Significant other observable inputs (Level 2) |  |  | Significant unobservable inputs (Level 3) |
Derivative liability - convertible notes |  | $ | - |  |  | $ | - |  |  | $ | 1,203 |
Profits interest |  |  | - |  |  |  | - |  |  |  | 1,971 |
Embedded put option |  |  | - |  |  |  | - |  |  |  | 376 |
Warrant Liability |  |  | - |  |  |  | - |  |  |  | 24 |
Total Financial Liabilities at Fair Value |  | $ | - |  |  | $ | - |  |  | $ | 3,574 |
|  | Fair Value measured at December 31, 2018 |
|  | Quoted prices in active markets (Level 1) |  |  | Significant other observable inputs (Level 2) |  |  | Significant unobservable inputs (Level 3) |
Derivative liability - convertible notes |  | $ | - |  |  | $ | - |  |  | $ | 469 |
Derivative liability - related party convertible notes |  |  | - |  |  |  | - |  |  |  | 549 |
Total Derivative Liability |  | $ | - |  |  | $ | - |  |  | $ | 1,018 |
Warrant Liability |  |  | - |  |  |  | - |  |  |  | 4,528 |
Total Fair Value |  | $ | - |  |  | $ | - |  |  | $ | 5,546 |
Schedule of Liability for Derivatives and Warrants | The following table presents changes in Level 3 liabilities measured at fair value (in thousands) for the year ended December 31, 2019. Unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category.
|  | Derivative - Convertible Notes |  |  | Warrants (assumed from subsidiary) |  |  | Profits Interests Sold |  |  | Warrant Liability |  |  | Embedded Put Option |
Fair value at December 31, 2019 |  | $ | 1,203 |  |  | $ | 24 |  |  | $ | 1,971 |  |  | $ | - |  |  | $ | 376 |
Change in fair value |  |  | (200 | ) |  |  | 15 |  |  |  | - |  |  |  | 366 |  |  |  | (97 | )
Additions |  |  | 689 |  |  |  | - |  |  |  | - |  |  |  | 15,621 |  |  |  | 172 |
Redemption |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (62 | )
Fair value at March 31, 2020 |  | $ | 1,692 |  |  | $ | 39 |  |  | $ | 1,971 |  |  | $ | 15,987 |  |  | $ | 389 |
|  | The following table presents changes in Level 3 liabilities measured at fair value (in thousands) for the year ended December 31, 2019. Unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category.
|  | Derivative - Convertible Notes |  |  | Warrants (assumed from subsidiary) |  |  | Profits Interests |  |  | Embedded Put Option |
Fair value at December 31, 2018 |  | $ | 1,018 |  |  | $ | 4,528 |  |  | $ | - |  |  | $ | - |
Change in fair value |  |  | (678 | ) |  |  | (4,504 | ) |  |  | 198 |  |  |  | (137 | )
Additions |  |  | 863 |  |  |  | - |  |  |  | 1,773 |  |  |  | 589 |
Redemptions |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (76 | )
Fair value at December 31, 2019 |  | $ | 1,203 |  |  | $ | 24 |  |  | $ | 1,971 |  |  | $ | 376 |
Schedule of Fair value of Liability Using Monte Carlo Simulation Model | The Company used a Monte Carlo simulation model to estimate the fair value of the warrant liability with the following assumptions at March 31, 2020 and December 31, 2019:
|  | March 31, 2020 |  |  | December 31, 2019 |
Exercise price |  | $ | 0.75 |  |  | $ | 0.75 |
Stock price – subsidiary |  | $ | 0.03 |  |  | $ | 0.02 |
Discount applied |  |  | 0 | % |  |  | 0 | %
Fair value of stock price |  | $ | 0.00 |  |  | $ | 0.00 |
Risk free rate |  |  | 0.28 | % |  |  | 1.62 | %
Contractual term (years) |  |  | 2.83 |  |  |  | 3.08 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | %
Expected volatility |  |  | 83.7 | % |  |  | 83.7 | %
Number of subsidiary warrants outstanding |  |  | 48,904,037 |  |  |  | 48,904,037 |
|  | The Company used a Monte Carlo simulation model to estimate the fair value of the warrant liability with the following assumptions at December 31, 2019 and 2018:
|  | December 31, 2019 |  |  | December 31, 2018 |
Exercise price |  | $ | 0.75 |  |  | $ | 0.75 |
Stock price - subsidiary |  | $ | 0.02 |  |  | $ | 0.22 |
Discount applied |  |  | 0 | % |  |  | 50 | %
Fair value of stock price |  | $ | 0.00 |  |  | $ | 0.09 |
Risk free rate |  |  | 1.62 | % |  |  | 2.49 | %
Contractual term (years) |  |  | 3.08 |  |  |  | 4.08 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | %
Expected volatility |  |  | 83.7 | % |  |  | 86.5 | %
Number of subsidiary warrants outstanding |  |  | 48,904,037 |  |  |  | 48,904,037 |
Schedule of Warrant Liabilities, Change In Using Black Scholes to Monte Carlo Simulation Assumptions | The significant assumptions used in the valuation are as follows:
|  | March 31, 2020 |
Fair value of underlying common shares |  | $ | 4.78 - 4.97 |
Exercise price |  | $ | 5.00 |
Dividend yield |  |  | - | %
Historical volatility |  |  | 52.6% - 52.8 | %
Risk free interest rate |  |  | 0.14% – 0.66 | %
|  | The Series D Convertible Preferred Stock contains a contingent put option and, accordingly, the Company considered it to be a liability and accounted for it at fair value using Level 3 inputs. The Company determined the fair value of this liability using the Monte Carlo simulation model with the following inputs:
|  | December 31, 2019 |
Stock price |  | $ | 8.91 – $9.03 |
Fixed conversion price |  | $ | 0.25 |
Risk free rate |  |  | 1.6 | %
Contractual term (years) |  |  | 1.2 - 1.5 |
Expected dividend yield |  |  | 8.0 | %
Expected volatility |  |  | 89.2% - 90.4 | %
FaceBank Group, Inc Pre-Merger [Member] | Subsidiary Warrant Liability [Member] |  |  |
Schedule of Warrant Liabilities, Change In Using Black Scholes to Monte Carlo Simulation Assumptions | The Company determined the fair value of this liability using the Monte Carlo simulation model with the following inputs:
|  | March 31, 2020 |  |  | December 31, 2019 |
Stock price |  | $ | 8.35 – $9.20 |  |  | $ | 8.91 – $9.03 |
Fixed conversion price |  | $ | 0.25 |  |  | $ | 0.25 |
Risk free rate |  |  | 0.2 – 0.4 | % |  |  | 1.6 | %
Contractual term (years) |  |  | 1.2 – 1.5 |  |  |  | 1.2 – 1.5 |
Expected dividend yield |  |  | 8.0 | % |  |  | 8.0 | %
Expected volatility |  |  | 87.2% - 94.8 | % |  |  | 89.2% - 90.4 | %

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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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