8. Investments in Allied Esports Entertainment, Inc.	3 Months Ended
Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Investments in Allied Esports Entertainment, Inc.	Note 8 – Investment in Allied Esports Entertainment, Inc. Following the close of BRAC’s merger, the Company retained 2,685,500 shares of Allied Esports Entertainment Inc. (NASDAQ: AESE) common stock with a value, based on the closing stock of $4.45 on the merger, of $11,950,475. As noted in Note 4 - Related Party Transactions, 20% or 537,100, of the shares are committed to be released to employees one year from the date of the merger, or on August 19, 2020. Therefore, the Company recorded a deferred compensation liability of $843,247 to recognize the commitment to employees as of March 31, 2020. As of March 31, 2020, the market value of the Company’s investment in AESE’s common stock was $4,216,235, based on the closing stock price of $1.57 per share. Thus, we recognized a loss of $2,766,065, as offset by a gain of $553,213 pursuant to the change in the market value of the stock committed to employees and directors, resulting in a net loss of $2,212,852 as of March 31, 2020. The balance in deferred compensation is also adjusted quarterly to reflect changes in the market value of the AESE common stock commitment. On January 2, 2020, the Company deposited 500,000 shares of its holdings of AESE pursuant to its brokerage account agreement with RBC Capital Markets, LLC. These shares were subsequently used as collateral the $700,000 promissory note, described below, pursuant to a commercial pledge and security agreement, dated March 10, 2020. On February 10, 2020, an additional 66,000 of AESE shares were deposited into this brokerage account. Under this standard brokerage agreement, the Company will be able to borrow funds secured by the value of the AESE shares pursuant to a standard margin account arrangement. The current value of the deposited AESE shares is $933,900 based on a closing price of $1.65 as of May 5, 2020.

8. Investments in Allied Esports Entertainment, Inc.

3 Months Ended

Mar. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Investments in Allied Esports Entertainment, Inc.

Note 8 – Investment in Allied Esports Entertainment, Inc.

Following the close of BRAC’s merger, the Company retained 2,685,500 shares of Allied Esports Entertainment Inc. (NASDAQ: AESE) common stock with a value, based on the closing stock of $4.45 on the merger, of $11,950,475. As noted in Note 4 - Related Party Transactions, 20% or 537,100, of the shares are committed to be released to employees one year from the date of the merger, or on August 19, 2020. Therefore, the Company recorded a deferred compensation liability of $843,247 to recognize the commitment to employees as of March 31, 2020.

As of March 31, 2020, the market value of the Company’s investment in AESE’s common stock was $4,216,235, based on the closing stock price of $1.57 per share. Thus, we recognized a loss of $2,766,065, as offset by a gain of $553,213 pursuant to the change in the market value of the stock committed to employees and directors, resulting in a net loss of $2,212,852 as of March 31, 2020. The balance in deferred compensation is also adjusted quarterly to reflect changes in the market value of the AESE common stock commitment.

On January 2, 2020, the Company deposited 500,000 shares of its holdings of AESE pursuant to its brokerage account agreement with RBC Capital Markets, LLC. These shares were subsequently used as collateral the $700,000 promissory note, described below, pursuant to a commercial pledge and security agreement, dated March 10, 2020. On February 10, 2020, an additional 66,000 of AESE shares were deposited into this brokerage account. Under this standard brokerage agreement, the Company will be able to borrow funds secured by the value of the AESE shares pursuant to a standard margin account arrangement. The current value of the deposited AESE shares is $933,900 based on a closing price of $1.65 as of May 5, 2020.