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TICKETSMARTER ACQUISITION (Tables)
 9 Months Ended
Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
SCHEDULE OF ESTIMATED FAIR VALUE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED ACQUISITION

 

   As allocated   As allocated 
   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 
SCHEDULE OF COMPONENTS OF IDENTIFIABLE INTANGIBLE ASSETS ACCRUED ACQUIRED

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:

 

   Cost   Amortization
through
September 30,
2023		  

Estimated

useful life

Identifiable intangible assets:             
Trademarks  $600,000   $—   indefinite
Sponsorship agreement network   5,600,000    2,333,333   5 years
Search engine optimization/content   600,000    312,500   4 years
              
   $6,800,000   $2,645,833