XML 52 R40.htm IDEA: XBRL DOCUMENT
v3.21.2

Summary of Significant Accounting Policies (Tables) | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2021 | Dec. 31, 2020
Accounting Policies [Abstract] |  |
Schedule of Net Income (Loss) Per Common Share | The Company excluded the outstanding securities summarized below (capitalized terms are described herein), which entitle the holders thereof to acquire shares of the Company’s common stock, from its calculation of net income loss per common share, as their effect would have been anti-dilutive. Schedule of Net Income (Loss) Per Common Share
|  | As of June 30, |
|  | 2021 |  |  | 2020 |
Series G convertible preferred stock |  |  | 188,791 |  |  |  | 188,791 |
Series H Preferred Stock |  |  | 59,384,849 |  |  |  | 58,787,879 |
Series I Preferred Stock |  |  | - |  |  |  | 46,200,000 |
Series J Preferred Stock |  |  | - |  |  |  | 28,571,428 |
Indemnity shares of common stock |  |  | - |  |  |  | 412,500 |
Restricted Stock Awards |  |  | 4,444,047 |  |  |  | 1,433,332 |
Financing Warrants |  |  | 2,882,055 |  |  |  | 2,882,055 |
ABG Warrants |  |  | 21,989,844 |  |  |  | 21,989,844 |
AllHipHop warrants |  |  | 125,000 |  |  |  | - |
Publisher Partner Warrants |  |  | 789,541 |  |  |  | 789,541 |
Restricted Stock Units |  |  | - |  |  |  | 2,399,997 |
Common Stock Awards |  |  | 6,872,890 |  |  |  | 8,033,936 |
Common Equity Awards |  |  | 160,352,784 |  |  |  | 82,744,480 |
Outside Options |  |  | 3,050,000 |  |  |  | 2,986,000 |
Total |  |  | 260,079,801 |  |  |  | 257,419,783 |
| The Company excluded the outstanding securities summarized below (capitalized terms are described herein), which entitle the holders thereof to acquire shares of the Company’s common stock, from its calculation of net income loss per common share, as their effect would have been anti-dilutive. Schedule of Net Income (Loss) Per Common Share
|  | As of December 31, |
|  | 2020 |  |  | 2019 |
Series G Preferred Stock |  |  | 188,791 |  |  |  | 188,791 |
Series H Preferred Stock |  |  | 59,384,849 |  |  |  | 58,787,879 |
Series I Preferred Stock |  |  | - |  |  |  | 46,200,000 |
Series J Preferred Stock |  |  | - |  |  |  | 28,571,429 |
Indemnity shares of common stock |  |  | - |  |  |  | 412,500 |
Restricted Stock Awards |  |  | 316,667 |  |  |  | 2,391,665 |
Financing Warrants |  |  | 2,882,055 |  |  |  | 2,882,055 |
AllHipHop Warrants |  |  | 125,000 |  |  |  | - |
Publisher Partner Warrants |  |  | 789,541 |  |  |  | 939,540 |
ABG Warrants |  |  | 21,989,844 |  |  |  | 21,989,844 |
Restricted Stock Units |  |  | - |  |  |  | 2,399,997 |
Common Stock Awards |  |  | 6,902,337 |  |  |  | 8,064,561 |
Common Equity Awards |  |  | 82,062,314 |  |  |  | 65,013,645 |
Outside Options |  |  | 3,052,000 |  |  |  | 3,724,667 |
Total |  |  | 177,693,398 |  |  |  | 241,566,573 |
Schedule of Disaggregation of Revenue | The following table provides information about disaggregated revenue by product line, geographical market and timing of revenue recognition: Schedule of Disaggregation of Revenue
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Revenue by product line: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Advertising |  | $ | 13,548,069 |  |  | $ | 7,541,616 |  |  | $ | 24,622,494 |  |  | $ | 19,379,600 |
Digital subscriptions |  |  | 7,690,111 |  |  |  | 6,089,450 |  |  |  | 14,774,592 |  |  |  | 11,626,697 |
Magazine circulation |  |  | 12,642,018 |  |  |  | 8,629,166 |  |  |  | 27,352,041 |  |  |  | 21,166,698 |
Other |  |  | 866,314 |  |  |  | 830,708 |  |  |  | 1,612,866 |  |  |  | 1,330,798 |
Total |  | $ | 34,746,512 |  |  | $ | 23,090,940 |  |  | $ | 68,361,993 |  |  | $ | 53,503,793 |
Revenue by geographical market: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 33,360,160 |  |  | $ | 22,049,636 |  |  | $ | 65,934,337 |  |  | $ | 51,331,766 |
Other |  |  | 1,386,352 |  |  |  | 1,041,304 |  |  |  | 2,427,656 |  |  |  | 2,172,027 |
Total |  | $ | 34,746,512 |  |  | $ | 23,090,940 |  |  | $ | 68,361,993 |  |  | $ | 53,503,793 |
Revenue by timing of recognition: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At point in time |  | $ | 27,056,401 |  |  | $ | 17,001,490 |  |  | $ | 53,587,401 |  |  | $ | 41,877,096 |
Over time |  |  | 7,690,111 |  |  |  | 6,089,450 |  |  |  | 14,774,592 |  |  |  | 11,626,697 |
Total |  | $ | 34,746,512 |  |  | $ | 23,090,940 |  |  | $ | 68,361,993 |  |  | $ | 53,503,793 |
| The following table provides information about disaggregated revenue by product line, geographical market and timing of revenue recognition: Schedule of Disaggregation of Revenue
|  | Years Ended December 31, |
|  | 2020 |  |  | 2019 |
Revenue by product line: |  |  |  |  |  |  |  |
Advertising |  | $ | 44,359,822 |  |  | $ | 35,918,370 |
Digital subscriptions |  |  | 28,495,676 |  |  |  | 6,855,038 |
Magazine circulation |  |  | 50,580,213 |  |  |  | 9,046,473 |
Other |  |  | 4,596,686 |  |  |  | 1,523,429 |
Total |  | $ | 128,032,397 |  |  | $ | 53,343,310 |
Revenue by geographical market: |  |  |  |  |  |  |  |
United States |  | $ | 122,570,712 |  |  | $ | 52,611,255 |
Other |  |  | 5,461,685 |  |  |  | 732,055 |
Total |  | $ | 128,032,397 |  |  | $ | 53,343,310 |
Revenue by timing of recognition: |  |  |  |  |  |  |  |
At point in time |  | $ | 99,536,721 |  |  | $ | 47,557,652 |
Over time |  |  | 28,495,676 |  |  |  | 5,785,658 |
Total |  | $ | 128,032,397 |  |  | $ | 53,343,310 |
Schedule of Contract with Customer, Asset and Liability | The following table provides information about contract balances: Schedule of Contract with Customer, Asset and Liability
|  | As of |
|  | June 30, 2021 |  |  | December 31, 2020 |
Unearned revenue (short-term contract liabilities): |  |  |  |  |  |  |  |
Digital subscriptions |  | $ | 19,358,809 |  |  | $ | 15,039,331 |
Magazine circulation |  |  | 52,539,366 |  |  |  | 46,586,345 |
|  | $ | 71,898,175 |  |  | $ | 61,625,676 |
Unearned revenue (long-term contract liabilities): |  |  |  |  |  |  |  |
Digital subscriptions |  | $ | 685,039 |  |  | $ | 593,136 |
Magazine circulation |  |  | 27,297,916 |  |  |  | 22,712,961 |
Other |  |  | 177,500 |  |  |  | 192,500 |
|  | $ | 28,160,455 |  |  | $ | 23,498,597 |
| The following table provides information about contract balances: Schedule of Contract with Customer, Asset and Liability
|  | As of December 31, |
|  | 2020 |  |  | 2019 |
Unearned revenue (short-term contract liabilities): |  |  |  |  |  |  |  |
Digital subscriptions |  | $ | 15,039,331 |  |  | $ | 8,634,939 |
Magazine circulation |  |  | 46,586,345 |  |  |  | 23,528,148 |
|  | $ | 61,625,676 |  |  | $ | 32,163,087 |
Unearned revenue (long-term contract liabilities): |  |  |  |  |  |  |  |
Digital subscriptions |  | $ | 593,136 |  |  | $ | 478,557 |
Magazine circulation |  |  | 22,712,961 |  |  |  | 30,478,154 |
Other |  |  | 192,500 |  |  |  | 222,500 |
|  | $ | 23,498,597 |  |  | $ | 31,179,211 |
Schedule of Cash and Restricted Cash |  | The following table reconciles total cash, cash equivalents, and restricted cash: Schedule of Cash and Restricted Cash
|  |  | 2020 |  |  |  | 2019 |
|  | As of December 31, |
|  | 2020 |  |  | 2019 |
Cash and cash equivalents |  | $ | 9,033,872 |  |  | $ | 8,852,281 |
Restricted cash |  |  | 500,809 |  |  |  | 620,809 |
Total cash, cash equivalents, and restricted cash |  | $ | 9,534,681 |  |  | $ | 9,473,090 |
Schedule of Concentration of Credit Risk |  | Revenue from significant customers as a percentage of the Company’s total revenue are as follows: Schedule of Concentration of Credit Risk
|  | Years Ended December 31, |
|  | 2020 |  |  | 2019 |
Customer 1 |  |  | - |  |  |  | 22.4 | %
Significant accounts payable balances as a percentage of the Company’s total accounts payable are as follows:
|  | As of December 31, |
|  | 2020 |  |  | 2019 |
Vendor 1 * |  |  | - |  |  |  | 61.7 | %
* | The significant accounts payable balance as of December 31, 2019 related to the service agreements with Meredith Corporation (“Meredith”) (as described in Note 3).
Schedule of Depreciation and Amortization, Useful Lives of Assets |  | Schedule of Depreciation and Amortization, Useful Lives of Assets
Office equipment and computers | 1 – 3 years
Furniture and fixtures | 1 – 5 years
Leasehold improvements | Shorter of remaining lease term or estimated useful life

X
- References No definition available. + Details
Name: | MVEN_ScheduleOfDepreciationAndAmortizationUsefulLivesOfAssetsTableTextBlock
Namespace Prefix: | MVEN_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 + Details
Name: | us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cash and cash equivalents restricted as to withdrawal or usage. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(1)(a)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=123431023&loc=SL98516268-108586 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13537-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13531-108611 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6404-108592 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6327-108592 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 18 -URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6351-108592 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6442-108592 + Details
Name: | us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration