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TICKETSMARTER ACQUISITION (Tables)
 12 Months Ended
Dec. 31, 2021
Business Acquisition [Line Items]  
SCHEDULE OF COMPONENTS OF IDENTIFIABLE INTANGIBLE ASSETS ACQUIRED AND ESTIMATED USEFUL LIVES

The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives in years as of the date of acquisition:

 

SCHEDULE OF COMPONENTS OF IDENTIFIABLE INTANGIBLE ASSETS ACQUIRED AND ESTIMATED USEFUL LIVES

   Cost   Amortization through December 31, 2021   Estimated useful life
Identifiable intangible assets:             
Trademarks  $600,000   $—   indefinite
Sponsorship agreement network   5,600,000    373,333   5 years
Search engine optimization/content   600,000    50,000   4 years
              
   $6,800,000   $423,333    
Ticket Smarter Acquisition [Member]  
Business Acquisition [Line Items]  
SCHEDULE OF PRELIMINARY FAIR VALUE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED IN THE TICKET SMARTER ACQUISITION

 

Assets acquired:          

  

Preliminary purchase price

allocation

 
   As allocated  

As allocated

 
Description  September 30, 2021   December 31, 2021 
Assets acquired:          
Tangible assets acquired, including $51,432 of cash acquired  $7,139,930   $5,748,291 
Identifiable intangible assets acquired   —    6,800,000 
Goodwill   

11,839,308

    5,886,547 
Liabilities assumed   (5,128,964)   (5,128,964)
Net assets acquired and liabilities assumed  $13,850,274   $13,305,874 
Consideration:          
Cash paid at TicketSmarter Acquisition date  $8,413,240   $8,413,240 
Common stock issued as consideration for TicketSmarter Acquisition at date of acquisition   990,360    990,360 
Contingent consideration earn-out agreement   4,244,400    

3,700,000

 
Cash paid at closing to escrow amount   500,000    500,000 
Cash retained from escrow amount pursuant to settlement of working capital target   (297,726)   (297,726)
           
Total TicketSmarter Acquisition purchase price  $13,850,274   $13,305,874