v3.20.4

Investments in LMC (Tables) | 12 Months Ended
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Dec. 31, 2020
Investments, All Other Investments [Abstract] |
Reconciliation of Investment in LMC | The following table sets forth a reconciliation of the Investment in LMC:
| December 31,
| 2020 |  | 2019
Balance, beginning of year | $ | 12,194,800 |  |  | $ | — |
Initial fair value of ownership interest (1) | — |  |  | 12,194,800 |
Change in fair value of investment (2) | 317,497,044 |  |  | — |
Fair value of anti-dilution shares (3) | 864,900 |  |  | — |
Balance, end of year | $ | 330,556,744 |  |  | $ | 12,194,800 |
(1) Represents the Company's ownership interest in the common stock of LMC obtained pursuant to the LMC Transaction (as described below). The initial fair value of the LMC ownership interest received is recorded in Other Income on the Consolidated Statements of Operations for the year ended December 31, 2019. (2) The Company obtained approximately 16.5 million shares of Class A Common Stock in connection with the LMC Merger (as described below), which were valued at $20.06 per share as of December 31, 2020. The change in fair value of the investment is recorded in Other Income on the Consolidated Statements of Operations for the year ended December 31, 2020. (3) During the three months ended March 31, 2020, the Company received additional shares as part of its anti-dilution feature with LMC, which were valued at approximately $0.9 million. The change in fair value of the investment related to the anti-dilution shares is recorded in Other Income on the Consolidated Statements of Operations for the year ended December 31, 2020.

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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