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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows From Operating Activities:    
Net loss $ (14,424,531) $ (17,979,171)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation and amortization 1,578,246 1,656,627
Gain on sale of property, plant and equipment (389,522)
Gain on sale on intangible (5,582)
Goodwill and intangible asset impairment charge 4,830,000
Stock-based compensation 73,678 378,917
Amortization of debt issuance costs 1,792,040 576,380
Gain on extinguishment of liabilities (691,730) (507,304)
Loss on extinguishment of debt 379,332
Change in fair value of warrant derivative liabilities (2,178,965) (1,803,560)
Convertible debt discount amortization 1,887,273
Loss on conversion of debt 93,386
Provision for inventory obsolescence (476,441) (918,571)
Provision for doubtful accounts receivable (24,441) 47,931
Allowance for doubtful lease reserve 20,000 5,000
Change in fair value of contingent consideration promissory note (177,909)
Increase (decrease) in:    
Accounts receivable – trade (809,519) (26,605)
Other receivable (572,279) 1,453,710
Inventories 2,037,604 2,563,198
Prepaid expenses 379,583 1,142,798
Operating lease right of use assets 114,017 285,667
Other assets 628,416 (1,477,391)
Accounts payable 3,053,399 3,619,557
Accrued expenses 303,335 1,713,623
Accrued expenses-related party 290,101 3,478
Income taxes payable (61) (17,544)
Lease deposit 10,445
Operating lease obligations (121,348) (285,667)
Contract liabilities 128,645 1,913,574
Net cash used in operating activities (4,086,023) (5,842,158)
Cash Flows from Investing Activities:    
Purchases of property, plant and equipment (23,821) (86,348)
Purchase of intangible assets (136,056) (110,893)
Cash paid for acquisition of Country Stampede (514,432)
Proceeds from sale of intangible asset 90,535
Proceeds from sale of land and building 425,653
Proceeds from sale of property, plant and equipment 550,644
Net cash provided by (used in) investing activities 392,523 (197,241)
Cash Flows from Financing Activities:    
Proceeds – Merchant Advances – Video Solutions Segment 1,144,000
Proceeds – Merchant Advances – Entertainment Segment 1,308,837
Net proceeds of equity offering with detachable warrants 2,194,745
Net proceeds of convertible debt with detachable warrants 2,640,000
Proceeds – Commercial Extension of Credit – Entertainment Segment 1,175,000 1,224,577
Payments on Commercial Extension of Credit – Entertainment Segment (162,928) (1,156,441)
Payments on Merchant Advances – Video Solutions Segment (1,382,500)
Net proceeds of related party note payable 100,000 2,325,000
Payments on Merchant Advances – Entertainment Segment (855,749)
Principal payment on EIDL loan (2,453)
Principal payment on contingent consideration promissory notes (188,470) (318,105)
Net cash provided by financing activities 3,330,482 4,715,031
Net decrease in cash, cash equivalents, and restricted cash (363,018) (1,324,368)
Cash, cash equivalents, beginning of period 778,149 3,532,199
Cash, cash equivalents, end of period 415,131 2,207,831
Supplemental disclosures of cash flow information:    
Cash payments for interest 429,002 26,220
Cash payments for income taxes 8,006 9,447
Supplemental disclosures of non-cash investing and financing activities:    
Commercial extension of credit repaid through accrued revenue – Entertainment segment 825,000
ROU and lease liability recorded on extension (termination) of lease 470,489 538,056
Conversion of convertible notes payable into common stock 119,750
Fair value of warrants issued with sale of shares 2,075,300
Assets acquired in business acquisitions 605,000
Liabilities assumed in the business acquisition 288,000
Goodwill acquired in business acquisitions 225,959
Adjustments of accounts payable with the sale proceeds of property, plant and equipment 549,356
Reduction in proceeds from sale of building for loan, prepaid rent, and other accrued expenses 5,474,347
Payments to vendors directly from proceeds of sale of common stock 334,703
Issuance of common stock upon exercise of re-funded warrants 573
Restricted common stock grant 80 35
Reverse stock split rounding issuances 24
Restricted common stock forfeitures 51 4
Debt discount on convertible note $ 3,000,000