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REVENUE
 3 Months Ended
Jun. 30, 2021
Revenue from Contract with Customer [Abstract]  
REVENUE

NOTE 4 – REVENUE

 

The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. The majority of revenues are received from live events, which primarily include ticket and beverage sales before and during the live events. Sponsorship revenue is also recognized when the live event takes place. Any revenue received for events that have yet to take place are recorded in deferred revenue. Gym revenue comprises primarily of membership dues and subscription. Other gym revenue includes personal training, group fitness and meal planning.

 

Information about the Company’s net sales by revenue type for the three months ended June 30, 2021 and 2020 are as follows: 

        
   For the three months ended 
   June 30,   June 30, 

 		 

2021

(Unaudited)

  

2020

(Unaudited)

 
Live events  $235,591   $59 
Gym revenue   333,174    59,962 
Net sales  $568,765   $60,021 

 

 All revenue is derived in the United States.

 

Information about the Company’s contract liabilities for the three months ended June 30, 2021 and 2020 are as follows:

        
   As of 
   June 30,   June 30, 
   2021   2020 
Balance at beginning of year  $119,504   $13,992 
Deferral of revenue   169,798    37,960 
Recognition of unearned revenue   (204,694)   (30,668)
Balance at June 30  $84,608   $21,284