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5. Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Valuation of financial instruments at fair value

The following schedule summarizes the valuation of financial instruments at fair value on a recurring basis in the balances sheet as of March 31, 2020 and December 31, 2019:

		Fair Value Measurements at March 31, 2020
		Level 1				Level 2				Level 3
Assets
Cash		$	52,097			$	–			$	–
Investment in Allied Esports Entertainment, Inc.			4,216,235				–				–
Total assets			4,268,332				–				–
Liabilities
Notes payable, net of $251,205 of debt discounts at March 31, 2020			–				(13,795	)			–
Total liabilities			–				(13,795	)			–
		$	4,268,332			$	(13,795	)		$	–

Fair Value Measurements at December 31, 2019

Level 1

Level 2

Level 3

Assets

Cash

$

108,756

$

–

$

–

Investment in Allied Esports Entertainment, Inc.

6,982,300

–

–

Total assets

7,091,056

–

–

Liabilities

None

–

–

–

Total liabilities

–

–

–

$

7,091,056

$

–

$

–

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- References

No definition available.

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