XML 33 R23.htm IDEA: XBRL DOCUMENT
v3.23.1

Discontinued Operations | 3 Months Ended
--- | ---
Mar. 31, 2023
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Note 17. Discontinued Operations On August 6, 2021, the Company entered into an Asset Purchase Agreement (the “Agreement”) with Informa. Pursuant to the Agreement, Creek Road Miners Corp. (formerly known as Kick the Can Corp.) sold, transferred, and assigned certain assets, properties, and rights to Informa related to the business of operating and producing live pop culture events. The Company released deferred revenue and other liabilities totaling $722,429 and recorded a gain from sale of discontinued operations of this amount. On September 15, 2021, the Company sold our wholly owned subsidiary which contained our Jevo assets and all rights to our Jevo operations for $1,500,000 and recognized a gain from sale of discontinued operations on the transaction of approximately $1,130,740. The gain from sale of discontinued operations consists of the following: Schedule of Gain from Sale of Discontinue Operation
Description |  | Amount |
Net cash paid on the closing date |  | $ | 1,500,000 |
Less: |  |  |  |
Current assets |  |  | 36,060 |
Inventory |  |  | 193,300 |
Fixed assets, net |  |  | 16,700 |
Intangible assets, net |  |  | 123,200 |
Total |  |  | 369,260 |
Gain from sale |  | $ | 1,130,740 |
CONtv is a joint venture with third parties and Bristol Capital, LLC. The Company holds a limited and passive interest of 10% in CONtv. As of March 31, 2023 and December 31, 2022, the investment in CONtv was $0. As of March 31, 2023 and December 31, 2022, the amount due to CONtv was $0. Prior to cryptocurrency mining operations that began in October 2021, the Company produced live and virtual pop culture conventions and events, and sold a gelatin machine and related consumables that were discontinued in 2021. In addition, the Company operated an eCommerce site selling pop culture memorabilia that was discontinued on June 30, 2022 (collectively known as “legacy operations”). The related assets and liabilities associated with the discontinued operations in our condensed consolidated balance sheets for the three months ended March 31, 2023 and year ended December 31, 2022, are classified as discontinued operations. Additionally, the financial results associated with discontinued operations in our condensed consolidated statement of operations for the three months ended March 31, 2023 and 2022, are classified as discontinued operations. The assets and liabilities related to discontinued operations consists of the following: Schedule of Discontinued Operation of Balance Sheet and Operation Statement
|  | March 31, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Assets |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |
Prepaid expenses |  | $ | — |  |  | $ | — |
Inventory |  |  | — |  |  |  | — |
Total current assets |  |  | — |  |  |  | — |
Other assets: |  |  |  |  |  |  |  |
Property and equipment, net |  |  | — |  |  |  | — |
Intangible assets, net |  |  | — |  |  |  | — |
Total assets |  | $ | — |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 485,712 |  |  | $ | 485,712 |
Deferred revenue |  |  | — |  |  |  | — |
Due to CONtv |  |  | — |  |  |  | — |
Total liabilities |  | $ | 485,712 |  |  | $ | 485,712 |
In addition, revenue and expenses from discontinued operations were as follows:
|  | 2023 |  |  | 2022 |
|  | Three Months Ended |
|  | March 31, |
|  | 2023 |  |  | 2022 |
Revenue |  | $ | — |  |  | $ | — |
Operating costs and expenses: |  |  |  |  |  |  |  |
Cost of revenue |  |  | — |  |  |  | — |
General and administrative |  |  | — |  |  |  | — |
Total operating expenses |  |  | — |  |  |  | — |
Loss from operations |  |  | — |  |  |  | — |
Other income (expense): |  |  |  |  |  |  |  |
Other income |  |  | — |  |  |  | 6,004 |
Interest income |  |  | — |  |  |  | — |
Loss on disposal of fixed assets |  |  | — |  |  |  | — |
Total other income (expense) |  |  | — |  |  |  | 6,004 |
Income (loss) from discontinued operations |  | $ | — |  |  | $ | 6,004 |

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

X
- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent + Details
Name: | us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration