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Segment Reporting
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting

Note 14 – Segment Reporting

 

Each of the Company’s business segments offer different, but synergistic products and services. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The chief operating decision maker is our Chief Executive Officer. The Chief Executive Officer assesses performance for the segments and decides how to allocate resources based on segment profit or loss. The Company does not have any intra-entity sales or transfers. Further, unallocated corporate assets not directly attributable to any one of the business segments and unallocated corporate operating losses resulting from general corporate overhead expenses not directly attributable to any one of the business segments are reported separate from the Company’s identified segments and included under Corporate in the tables presented below.

 

The Company’s business consists of three reportable business segments:

 

●Esports, provided through Allied Esports, including video game events and tournaments.
   
●Casual mobile gaming, provided through ZTech.
   
●Live concert promotion and events organizing, provided through Skyline.

 

The Company’s significant segment revenues and expenses for the three and nine months ended September 30, 2025 and 2024 are as follows:

 

   For the Three Months Ended 
   September 30, 
   2025   2024 
   E-sports   Casual Mobile Gaming   Concerts   Corporate   Total   E-sports   Casual Mobile Gaming   Concerts   Corporate   Total 
Revenue                                        
In-person  $1,008,983   $-   $-   $-   $1,008,983   $1,345,484   $-   $-   $-   $1,345,484 
Multiplatform content   67    -    -    -    67    71    -    -    -    71 
Casual mobile gaming   -    837,862    -    -    837,862    -    817,986    -    -    817,986 
Total Revenue   1,009,050    837,862    -    -    1,846,912    1,345,555    817,986    -    -    2,163,541 
Costs and Expenses                                                  
In-person (excludes depreciation)   613,711    -    -    -    613,711    682,652    -    -    -    682,652 
Casual mobile gaming (excludes depreciation)   -    732,802    -    -    732,802    -    700,918    -    -    700,918 
Professional fees   15,677    

23,508

    -    4,523,671    
4,562,856
    61,180    144,236    15,176    (522,228)   (301,636)
Salaries and benefits   703,347    

98,486

   14,812    

434,699

    

1,251,344

    588,620    -    -    393,395    982,015 
Selling and marketing expense   7,916    -    -    71,073    78,989    6,544    -    -    83,968    90,512 
Other expenses [1]   232,321    54,820    2,045    1,016,513    1,305,699    264,392    17,400    1,637    120,619    404,048 
Depreciation and amortization   220,139    144,938    -    35,475    400,552    223,370    149,478    -    30,676    403,524 
Stock based compensation   -   -    -    115,228    115,228    -    -    -    237,147    237,147 
Research and development expense   -    

13,261

    -    106,888    

120,149

    (13,228)   158,162    -    -    144,934 
Total Expense   1,793,111    1,067,815    

16,587

    6,303,547    9,181,330    1,813,530    1,170,194    16,813    343,577    3,344,114 
Segment loss   (784,061)   (229,953)   (16,857)   (6,303,547)   (7,334,418)   (467,975)   (352,208)   (16,813)   (343,577)   (1,180,573)
All other segment items (2)   52,510    89    27    1,882,808    1,935,434    (590)   1,152,812    19,092    (4,352,225)   (3,180,911)
Consolidated pre-tax net loss  $(731,551)  $(229,864)   $

(16,830

)  $(4,420,739)  $(5,398,984)  $(468,565)  $800,604   $2,279   $(4,695,802)  $(4,361,484)
   For the Nine Months Ended 
   September 30, 
   2025   2024 
   E-sports   Casual Mobile Gaming   Concerts   Corporate   Total   E-sports   Casual Mobile Gaming   Concerts   Corporate   Total 
                                         
Revenue                                                  
In-person  $3,826,733   $-   $-   $-   $3,826,733   $3,518,044   $-   $-   $-   $3,518,044 
Multiplatform content   204    -    -    -    204    182    -    -    -    182 
Casual mobile gaming   -    2,214,593    -    -    2,214,593    -    3,664,244    -    -    3,664,244 
Total Revenue   3,826,937    2,214,593    -    -    6,041,530    3,518,226    3,664,244    -    -    7,182,470 
Costs and Expenses                                        
In-person (excludes depreciation)   2,091,982    -    -    -    2,091,982    1,820,818    -    -    -    1,820,818 
Casual mobile gaming (excludes depreciation)   -    2,051,374    -    -    2,051,374    -    3,198,988    -    -    3,198,988 
Professional fees   195,437    

89,942

    
-
    12,268,146    12,553,525    220,665    332,259    81,267    3,897,691    4,531,882 
Salaries and benefits   1,901,893    

274,886

    27,792    

1,147,751

    3,352,322    1,784,245    -    -    862,675    2,646,920 
Selling and marketing expense   24,479    -    2,500    173,668    200,647    10,755    -    -    187,806    198,561 
Other expenses [1]   745,055    61,187    6,410    1,591,691    2,404,343    726,156    37,502    71,965    487,576    1,323,199 
Depreciation and amortization   659,923    443,571    -    73,518    1,177,012    689,509    402,052    -    92,131    1,183,692 
Stock based compensation   -    -    -    494,426    494,426    -    -    -    897,827    897,827 
Research and development expense   -    71,837    -    322,081    

393,918

    -    526,906    -    -    526,906 
Total Expense   5,618,769    2,992,797    

36,702

    16,071,281    24,719,549    5,252,148    4,497,707    153,232    6,425,706    16,328,793 
Segment loss   (1,791,832)   (778,204)   (36,702)   (16,071,281)   (18,678,019)   (1,733,922)   (833,463)   (153,232)   (6,425,706)   (9,146,323)
All other segment items (2)   16,746    

14,900

    (121,710)   3,635,245    3,545,181    1,172    1,505,487    74,578    (2,508,800)   (927,563)
Consolidated pre-tax net loss  $(1,775,086)  $

(763,304

)   $(158,412)  $(12,436,036)  $(15,132,838)  $(1,732,750)  $672,024   $(78,654)  $(8,934,506)  $(10,073,886)

 

[1]

 Other expense includes insurance, utilities, repair and maintenance, office supplies, travel and entertainment, rent, and property tax expenses.
[2] All other items include investments in money market funds and marketable securities, foreign currency transactions, fair value adjustment for digital assets, and other income and expenses including interest.

The Company’s significant segment assets as of September 30, 2025 and December 31, 2024 are as follows:

 

   As of September 30, 2025   As of December 31, 2024 
   E-sports   Casual Mobile Gaming   Concerts   Corporate   Total   E-sports   Casual Mobile Gaming   Concerts   Corporate   Total 
                                         
Total assets for reportable segments:                                        
Goodwill and intangible assets, net  $-   $7,470,460   $-   $166,358   $7,636,818   $17,807   $7,697,633   $-   $196,625   $7,912,065 
Property and equipment, net   2,377,005    14,084    -    53,665    2,444,754    2,970,762    20,232    -    9,088    3,000,082 
Other segment assets (1)   7,295,639    326,904    71,754    88,991,714    96,686,011    5,930,764    425,660    7,373,683    88,045,005    101,775,112 
Total consolidated assets  $9,672,644   $7,811,448   $71,754   $89,211,737   $106,767,583   $8,919,333   $8,143,525   $7,373,683   $88,250,718   $112,687,259 

 

The Company’s assets by geographic location are as follows:

 

   As of 
   September 30,
2025		   December 31, 2024 
Total assets by geographic location:        
United States  $11,528,294   $25,191,733 
China   95,239,289    87,495,526 
Total consolidated assets  $106,767,583   $112,687,259 

 

The Company’s disaggregated revenues by geographic location for the three and nine months ended September 30, 2025 and 2024 are as follows:

 

   For the Three months Ended   For the Nine months Ended 
   September 30,   September 30, 
   2025   2024   2025   2024 
                 
Total revenues by geographic location:                
United States  $1,009,050   $1,345,555   $3,826,937   $3,518,226 
China   837,862    817,986    2,214,593    3,664,244 
Total consolidated revenues  $1,846,912   $2,163,541   $6,041,530   $7,182,470