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Commitments and Contingencies
 3 Months Ended
Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
  12. 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. For the three months ended March 31, 2021 and 2020, the Company recognized publisher partner guarantees of $1,763,357 and $2,374,087, 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 date these condensed consolidated financial statements were issued or were available to be issued:

 

    Registration Rights Damages     Public Information Failure Damages     Accrued Interest     Balance  
Series H Preferred Stock   $ -     $ 5,236     $ 93,575     $ 98,811  
12% Convertible Debentures     -       -       36,320       36,320  
Series I Preferred Stock     -       -       111,184       111,184  
Series J Preferred Stock     240,000       240,000       108,059       588,059  
Series K Preferred Stock     -       661,680       11,221       672,901  
Total   $ 240,000     $ 906,916     $ 360,359     $ 1,507,275