XML 45 R34.htm IDEA: XBRL DOCUMENT v3.21.2
Acquisition of ChizComm Entities (Tables)
6 Months Ended
Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]  
Total purchase price consideration paid
    
   Amount 
Cash consideration at closing  $8,500,000 
Equity consideration at closing   3,527,027 
Fair value of Earn-Out shares   7,210,000 
Total  $19,237,027 
Assets acquired and liabilities assumed
     
Cash  $711,123 
Accounts Receivable   6,150,919 
Prepaid Expenses   56,594 
Lease Deposits   12,390 
Fixed Assets   147,689 
Trade Name   3,430,000 
Customer Relationships   6,140,000 
Non-Compete Agreements   60,000 
Goodwill   9,607,027 
Accounts Payable and Accrued Expenses   (7,006,350)
Payroll Tax Liability   (72,365)
      
Total Consideration  $19,237,027 
Supplemental pro forma information

Supplemental pro forma information as follows: 

                     
    Three Months Ended    Six Months Ended 
    June 30,
2021
    June 30,
2020
    June 30,
2021
    June 30,
2020
 
Total Revenues  $2,342,205   $1,293,956   $4,758,768   $6,963,704 
                     
Net Loss   (7,383,978)   (383,624,941)   (84,269,062)   (391,305,960)
                     
Net Loss per Common Share (Basic and Diluted)  $(0.02)  $(4.89)  $(0.29)  $(15.85)
                     
Weighted Average Shares Outstanding (Basic and Diluted)   300,646,819    78,503,414    293,969,462    24,690,154