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Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2018
Accounting Policies [Abstract]  
Schedule of Disaggregation of Revenue

The following table provides information about disaggregated revenue by product line, geographical market and timing of revenue recognition:

 

  

Three Months Ended

June 30, 2018

  

Six Months Ended

June 30, 2018

 
         
Revenue by product line:          
Advertising  $199,616   $272,459 
Membership subscriptions   16,740    30,582 
Total  $216,356   $303,041 
           
Revenue by geographical market:          
United States  $216,356   $303,041 
Other   -    - 
Total  $216,356   $303,041 
           
Revenue by timing of recognition:          
At point in time  $199,616   $272,459 
Over time   16,740    30,582 
Total  $216,356   $303,041 
Schedule of Contract with Customer, Asset and Liability

The following table provides information about contract balances as of June 30, 2018 and December 31, 2017:

 

   June 30, 2018   December 31, 2017 
         
Accounts receivable:          
Advertising  $203,503   $52,348 
Membership subscriptions   4,637    854 
Total  $208,140   $53,202 
           
Short-term contract assets (deferred contract costs):          
Advertising  $-   $- 
Membership subscription   11,449    14.147 
Total  $11,449   $14,147 
           
Short-term contract liabilities (deferred revenue):          
Advertising  $-   $- 
Membership subscriptions   23,763    31,437 
Total  $23,763   $31,437 
Schedule of Cash and Restricted Cash

The following table reconciles total cash and restricted cash at June 30, 2018 and December 31, 2017:

 

    June 30, 2018     December 31, 2017  
             
Cash   $ 116,187     $ 619,249  
Restricted cash     -       3,000,000  
Total cash and restricted cash   $ 116,187     $ 3,619,249  
Schedule of Depreciation and Amortization, Useful Lives of Assets

Depreciation and amortization are provided using the straight-line method over the following estimated useful lives:

 

Office equipment and computers 3 - 5 years
Furniture and fixtures 5 - 8 years
Schedule of Valuation and Rollforward Activity

The following table represents the carrying amount, valuation and roll-forward of activity for the Company’s warrants accounted for as a derivative liability and classified within Level 3 of the fair-value hierarchy for the six months ended June 30, 2018:

 

  

Strome

Warrant

  

8%

Convertible

Notes Payable

Warrants

  

Total

Warrant

Derivative

Liability

 
             
Carrying amount, January 1, 2018  $—   $—   $— 
Issuance of warrant on June 11, 2018   —    312,749    312,749 
Issuance of warrant on June 15, 2018   1,344,648    288,149    1,632,797 
Change in fair value   —    (91,388)   (91,388)
Carrying amount, June 30, 2018  $1,344,648   $509,510   $1,854,158 
Summary of Outstanding Securities

he following table represents the carrying amount, valuation and a roll-forward of activity for the embedded conversion feature with respect to the Company’s 10% senior convertible debenture and 8% convertible notes payable accounted for as a derivative liability and classified within Level 3 of the fair-value hierarchy for the six months ended June 30, 2018:

 

  

10%

Senior Convertible

Debenture

  

8%

Convertible

Notes Payable

  

Total

10% Senior Convertible

Debenture and 8% Convertible Notes Payable

Derivative

Liability

 
             
Carrying amount, January 1, 2018  $—   $—   $— 
Recognition of conversion feature on June 11, 2018   —    78,432    78,432 
Recognition of conversion feature on June 15, 2018   471,002    81,169    552,171 
Change in fair value   (10,494)   (26,662)   (37,156)
Carrying amount, June 30, 2018  $460,508   $132,939   $593,447 
Schedule of Net Income (loss) Per Common Share

At June 30, 2018 and 2017, the Company excluded the outstanding securities summarized below, which entitle the holders thereof to acquire shares of common stock, from its calculation of net income (loss) per common share, as their effect would have been anti-dilutive.

 

   June 30, 
   2018   2017 
         
10% senior convertible debentures   3,698,110    - 
8% convertible notes payable   970,787    - 
Redeemable Series G convertible preferred stock   188,791    132,154 
Unvested and forfeitable restricted stock awards   4,890,857    12,517,152 
Common stock options, including options issued in the form of warrants   3,883,003    2,004,137 
Common stock warrants – Channel Partner program   1,416,633    3,024,500 
Common stock warrants – financing   2,433,613    1,169,607 
Total   17,481,794    18,847,550