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Commitments and Contingencies
 12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

26. Commitments and Contingencies

 

Revenue Guarantees

 

On a select basis, the Company has provided revenue share guarantees to certain independent publishers that transition their publishing operations from another platform to theMaven.net or maven.io. These arrangements generally guarantee the publisher a monthly amount of income for a period of 12 to 24 months from inception of the publisher contract that is the greater of (a) a fixed monthly minimum, or (b) the calculated earned revenue share. During the years ended December 31, 2019 and 2018, the Company paid Channel Partner guarantees of $7,111,248 and $1,456,928, respectively.

 

Claims and Litigation

 

From time to time, the Company may be subject to claims and litigation arising in the ordinary course of business. The Company is not currently a party to any pending or threatened legal proceedings that it believes would reasonably be expected to have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows.

 

Liquidated Damages

 

The following table summarizes the contingent obligations with respect to the Liquidated Damages as of the issuance date of these consolidated financial statements:

 

    12% Convertible Debentures     Series I Preferred Stock     Series J Preferred Stock     Total Liquidated Damages  
Registration Rights Damages   $ -     $ 277,200     $ 360,000     $ 637,200  
Public Information Failure Damages     12,300       346,500       360,000       718,800  
Accrued interest     1,578       69,991       60,007       131,576  
    $ 13,878     $ 693,691     $ 780,007     $ 1,487,576