| Document and Entity Information - USD ($) | 12 Months Ended | ||
| Dec. 31, 2017 | May 01, 2018 | Jun. 30, 2017 | |
| Entity Registrant Name | iPic Entertainment Inc. | ||
| Entity Central Index Key | 1,720,201 | ||
| Amendment Flag | false | ||
| Trading Symbol | IPIC | ||
| Current Fiscal Year End Date | --12-31 | ||
| Document Type | 10-K | ||
| Document Period End Date | Dec. 31, 2017 | ||
| Document Fiscal Period Focus | FY | ||
| Document Fiscal Year Focus | 2,017 | ||
| Entity Well-known Seasoned Issuer | No | ||
| Entity Voluntary Filers | No | ||
| Entity Current Reporting Status | No | ||
| Entity Filer Category | Smaller Reporting Company | ||
| Entity Public Float | $ 18,897,127 | ||
| Class A Common stock | |||
| Entity Common Stock, Shares Outstanding | 1,248,159 | ||
| Class B Common Stock | |||
| Entity Common Stock, Shares Outstanding | 9,926,621 |
| Balance Sheets - USD ($) | Dec. 31, 2017 | Oct. 18, 2017 |
| Statement of Financial Position [Abstract] | ||
| Assets | ||
| Commitments and Contingencies | ||
| Stockholder's Equity | ||
| Common Stock, par value $0.01 per share, 100 shares authorized, 100 shares issued and outstanding | ||
| Total stockholder's equity |
| Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2017 | Oct. 18, 2017 |
| Statement of Financial Position [Abstract] | ||
| Common stock, par value | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 100 | 100 |
| Common stock, shares issued | 100 | 100 |
| Common stock, shares outstanding | 100 | 100 |
| Organization | 12 Months Ended |
| Dec. 31, 2017 | |
| Organization [Abstract] | |
| ORGANIZATION | NOTE 1 — ORGANIZATION Organization iPic Entertainment Inc. (the “Company”, “we”, “our” or “us”) was formed as a Delaware Corporation on October 18, 2017. The Company was formed for the purpose of completing an initial public offering (“IPO”) and related transactions in order to carry on the business of iPic-Gold Class Entertainment, LLC (“iPic-Gold Class”) and its subsidiaries. Additionally, iPic-Gold Class Holdings LLC (“Holdings”) was formed as a Delaware limited liability company on December 22, 2017, to hold the equity interests in iPic-Gold Class. As of the completion of the IPO and related transactions, the Company is the sole managing member of Holdings, and Holdings is the sole managing member of iPic-Gold Class and its subsidiaries. iPic-Gold Class and its subsidiaries continue to conduct the business conducted by these subsidiaries prior to the IPO and related transactions. Initial Public Offering On February 1, 2018, the Company completed its IPO of 818,429 shares of Class A Common Stock at a public offering price of $18.50 per share. We received approximately $13,600 in proceeds, net of selling agent discounts and commission, but before offering expenses of approximately $1,500. We used the net proceeds from our IPO to purchase 818,429 newly issued common units of Holdings (“Common Units”) at a price per Common Unit of $18.50. After the IPO, the pre-IPO owners of iPic-Gold Class (the “Original iPic Equity Owners”) control approximately 92.68% of the combined voting power of all classes of our Common Stock as a result of their ownership of 429,730 shares of our Class A Common Stock and all of the 9,926,621 shares of our Class B Common Stock, each share of which is entitled to one vote on all matters submitted to a vote of our stockholders but has no economic rights. Subsequent to the IPO and the Organizational Transactions (as defined below) our sole asset is Common Units of Holdings. As a result, in the first quarter of 2018, we will consolidate the financial results of Holdings and iPic-Gold Class and its subsidiaries with our financial results and report non-controlling interests to reflect the interests of Common Units held by parties other than the Company. See Note 4 “Subsequent Events” below for a further description of the IPO and the Organizational Transactions. |
| Summary of Significant Accounting Policies | 12 Months Ended |
| Dec. 31, 2017 | |
| Summary of Significant Accounting Policies [Abstract] | |
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Accounting The accompanying balance sheets have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Separate statements of income, changes in stockholder’s equity, and cash flows have not been presented, as the Company did not engage in any material business activities as of the date the information is presented, with the exception of the issuance of Restricted Stock Units discussed further in Note 3 “Stock Based Compensation”. Use of Estimates The preparation of the balance sheets in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheets. Although these estimates are based on management’s knowledge of current events and actions it may undertake in the future, such estimates may ultimately differ from actual results. Share based payment awards Share based payment award compensation costs for equity classified awards are measured on the grant date based on the fair value of the award at that date, and are recognized over the requisite service period. Liability classified awards are remeasured at their fair-value-based measure as of each reporting date until settlement. Compensation cost for awards containing a service condition is recognized over the requisite service period. Compensation cost for awards that include a performance condition is recognized when the performance condition becomes probable. In accordance with ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting, the Company will account for forfeitures as they occur. As of December 31, 2017, no forfeitures of any awards granted have occurred. |
| Stock Based Compensation | 12 Months Ended |
| Dec. 31, 2017 | |
| Stock Based Compensation [Abstract] | |
| STOCK BASED COMPENSATION | NOTE 3 — STOCK BASED COMPENSATION Restricted Stock Units On December 6, 2017, the Company, granted a total monetary value of $8,951 of Restricted Stock Units (“RSUs”) with the number of units set equal to the total monetary value divided by the IPO stock price of the Company, to iPic-Gold Class’ named executive officers and certain iPic-Gold Class employees. Refer to Note 4 “Subsequent Events” for further information on the recognition of the compensation expense in 2018. |
| Subsequent Events | 12 Months Ended |
| Dec. 31, 2017 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | NOTE 4 — SUBSEQUENT EVENTS Organizational Transactions Immediately prior to or in connection with the closing of our IPO on February 1, 2018, we and the Original iPic Equity Owners consummated the following organizational transactions (the “Organizational Transactions”): ● All of the membership interests in iPic-Gold Class were contributed by the Original iPic Equity Owners to Holdings in exchange for all of the membership interests in Holdings (the “LLC Interests”), following which iPic-Gold Class became 100% owned and controlled by Holdings; ● We amended and restated the limited liability company agreement of Holdings (the “Holdings LLC Agreement”), to, among other things, provide for the organizational structure described below under “Organizational Structure Following the IPO”; ● We amended and restated the limited liability company agreement of iPic-Gold Class to appoint Holdings as the sole managing member of iPic-Gold Class and to reflect iPic-Gold Class’s status as a wholly-owned subsidiary of Holdings; ● Certain of the Original iPic Equity Owners transferred the LLC Interests that they held in Holdings to certain direct or indirect members of such Original iPic Equity Owners. The recipients of these LLC Interests, together with the Original iPic Equity Owners that did not transfer any of the LLC Interests that they held in Holdings, are collectively referred to herein as the “Continuing iPic Equity Owners”; ● We amended and restated the Company’s Certificate of Incorporation to, among other things, (i) provide for Class A Common Stock and Class B Common Stock and (ii) issue shares of Class B Common Stock to the Continuing iPic Equity Owners, on a one-to-one basis with the number of LLC Interests they owned, for nominal consideration; ● We issued 818,429 shares of our Class A Common Stock to the purchasers in the IPO in exchange for net proceeds of approximately $13,600 at $18.50 per share, after deducting selling agents’ discounts and commissions but before offering expenses payable by us.; ● We used all of the net proceeds from the IPO to purchase newly-issued LLC Interests from Holdings at a purchase price per interest equal to the net proceeds, before expenses, to us per share of Class A Common Stock, collectively representing 7.32% of Holdings’ outstanding LLC Interests; and ● We issued 429,730 shares of our Class A Common Stock to certain Continuing iPic Equity Owners in exchange for an equivalent number our Class B Common Stock and LLC Interests they owned. Organizational Structure Following the IPO Immediately following the completion of the IPO: ● The Company is the sole manager of Holdings, and Holdings is the sole managing member of iPic-Gold Class. The Company, therefore, directly or indirectly controls the business and affairs of, and conducts its day-to-day business through, iPic-Gold Class and its subsidiaries; ● The Company’s Amended and Restated Certificate of Incorporation and the Holdings LLC Agreement require that (i) we at all times maintain a ratio of one LLC Interest owned by us for each share of Class A Common Stock issued by us (subject to certain exceptions for treasury shares and shares underlying certain convertible or exchangeable securities), and (ii) Holdings at all times maintain (x) a one-to-one ratio between the number of shares of Class A Common Stock issued by us and the number of LLC Interests owned by us and (y) a one-to-one ratio between the number of shares of Class B Common Stock owned by the Continuing iPic Equity Owners and the number of LLC Interests owned by the Continuing iPic Equity Owners; ● Class A Common Stockholders own 1,248,159 shares of Class A Common Stock, representing approximately 11.17% of the combined voting power of our Class A and Class B Common Stock, and participate in approximately 11.17% of the economic interest in Holdings; and ● The Continuing iPic Equity Owners own (i) LLC Interests, representing 88.83% of the economic interest in Holdings, and (ii) through their ownership of Class A and Class B Common Stock, approximately 92.68% of the combined voting power of our Class A and Class B Common Stock. Following the IPO, each LLC Interest held by the Continuing iPic Equity Owners is redeemable, at the election of such members, for, at our option, newly-issued shares of Class A Common Stock on a one-for-one basis or a cash payment equal to a volume weighted average market price of one share of Class A Common Stock for each LLC Interest redeemed (subject to customary adjustments, including for stock splits, stock dividends and reclassifications). In the event of such election by a Continuing iPic Equity Owner, we may, at our option, instead effect a direct exchange of cash or Class A Common Stock for such LLC Interests in lieu of such a redemption. Any such redemption or exchange is required to be in accordance with the terms of the Holdings LLC Agreement. When a Continuing iPic Equity Owner’s LLC Interests are redeemed or exchanged, we will cancel the number of shares of Class B Common Stock held by such Continuing iPic Equity Owner equal to the number of LLC Interests of such Continuing iPic Equity Owner that were redeemed or exchanged. The decisions made by us are made by our board of directors, which currently includes directors who hold LLC Interests or are affiliated with holders of LLC Interests and may include additional directors with similar affiliations in the future. Although we own a minority economic interest in Holdings, we have the sole voting interest in, and control the management of Holdings and, indirectly, iPic-Gold Class. As a result, we will consolidate in the first quarter of 2018 both Holdings and iPic-Gold Class in our consolidated financial statements and will report non-controlling interests related to the LLC Interests held by the Continuing iPic Equity Owners on our consolidated financial statements. We have a Issuance of Warrants On February 1, 2018, upon the closing of the IPO, the Company issued certain warrants to the selling agents (the “Selling Agents’ Warrants”) to purchase a number of shares of the Common Stock equal to 2.2% of the total shares of the Common Stock sold in the IPO. This equated to 18,005 shares being issued as part of the Selling Agents’ Warrants agreement. The Selling Agents’ Warrants are exercisable commencing approximately 13 months after the date of the applicable closing, and will be exercisable for three and a half years after such date. The Selling Agents’ Warrants are not redeemable by the Company. The exercise price for the Selling Agents’ Warrants is $23.125 which equals 125% of the public offering price of $18.50. Issuance of Restricted Stock Units On December 6, 2017 Restricted Stock Units were issued to named executive officers and certain iPic-Gold Class employees with a value of $8,951. The agreements contained a substantive performance condition for the completion of the IPO. Compensation expense will be recognized on the date of the IPO. 2017 Equity Incentive Plan In December 2017, the Board of Directors of iPic-Gold Glass adopted and recommended that its unitholders approve the iPic – Gold Class Entertainment, LLC 2017 Equity Incentive Plan (or the “2017 Equity Incentive Plan”), under which equity awards may be made in respect of 1,600,000 membership units of iPic-Gold Class (“Units”), which number of authorized Units is subject to automatic increases which begin in fiscal year 2019. Under the 2017 Equity Incentive Plan, awards may be granted in the form of options, restricted units, phantom units, unit appreciation rights, dividend equivalent rights, unit awards and performance-based awards (including performance units, performance phantom units and performance-based restricted units). In connection with the Organizational Transactions, the 2017 Equity Incentive Plan was migrated to iPic Entertainment and any awards granted under the 2017 Equity Incentive Plan were converted into options to acquire Class A Common Stock of iPic Entertainment. On December 21, 2017, iPic-Gold Class granted 955,300 Non-Qualified Options with an exercise price of $18.13 per share, resulting in a grant date fair value of $4,379, to our named executive officers and certain other employees under the 2017 Equity Incentive Plan. Effective February 1, 2018 the Board of Directors approved the migration of the 2017 Equity Incentive Plan from iPic-Gold Class, LLC to iPic Entertainment Inc. Private Placement Separately, on February 1, 2018, the Company closed a private placement of $2,500 from an affiliate of one of its existing investors, Regal Cinemas, which had previously invested $12,000 in iPic-Gold Class in April 2017. Closing of Location After a detailed review of all seven locations with Generation I auditoriums, the Company has decided against reinvestment at its Glendale, Wisconsin location, where the Bayshore Mall is now in receivership. The Company has instead announced the closing of this location effective March 8, 2018. The decision to close the location was made during an all-hands conference call on March 5, 2018. The events giving rise to that decision include the mall entering receivership during the last quarter of 2017 and the underperformance of the site during the first quarter of 2018. The remaining minimum lease obligation at the date of closure is approximately $4,100. |
| Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
| Dec. 31, 2017 | |
| Summary of Significant Accounting Policies [Abstract] | |
| Basis of Presentation and Accounting | Basis of Presentation and Accounting The accompanying balance sheet has been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Separate statements of income, changes in stockholder’s equity, and cash flows have not been presented, as the Company did not engage in any material business activities as of the date the information is presented, with the exception of the Equity Incentive Plan discussed further in Note 3 “Stock Based Compensation”. |
| Use of Estimates | Use of Estimates The preparation of the balance sheet in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet. Although these estimates are based on management’s knowledge of current events and actions it may undertake in the future, such estimates may ultimately differ from actual results. |
| Share based payment awards | Share based payment awards Share based payment award compensation costs for equity classified awards are measured on the grant date based on the fair value of the award at that date, and are recognized over the requisite service period. Liability classified awards are remeasured at their fair-value-based measure as of each reporting date until settlement. Compensation cost for awards containing a service condition is recognized over the requisite service period. Compensation cost for awards that include a performance condition is recognized when the performance condition becomes probable. In accordance with ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting, the Company will account for forfeitures as they occur. As of December 31, 2017, no forfeitures of any awards granted have occurred. |
| Organization (Details) - Subsequent Event [Member] $ / shares in Units, $ in Thousands | 1 Months Ended |
| Feb. 01, 2018USD ($)$ / sharesshares | |
| Class A Common Stock [Member] | |
| Organization (Textual) | |
| Issuance of common stock | 429,730 |
| Class B Common Stock [Member] | |
| Organization (Textual) | |
| Issuance of common stock | 9,926,621 |
| IPO [Member] | |
| Organization (Textual) | |
| Issuance of common stock | 818,429 |
| Public offering price | $ / shares | $ 18.50 |
| Purchase of common units newly issued | 818,429 |
| Net of underwriting discounts and commission | $ | $ 13,600 |
| Before offering expenses | $ | $ 1,500 |
| Combined voting power, percentage | 92.68% |
| Price per common unit | $ / shares | $ 18.50 |
| Stock Based Compensation (Details) $ in Thousands | Dec. 06, 2017USD ($) |
| Stock Based Compensation (Textual) | |
| Granted total value | $ 8,951 |
| Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | ||||
| Feb. 01, 2018 | Dec. 21, 2017 | Apr. 30, 2017 | Mar. 08, 2018 | Dec. 31, 2017 | |
| Subsequent Events (Textual) | |||||
| Private placement from an affiliate | $ 12,000 | ||||
| Authorized membership units | 1,600,000 | ||||
| Granted options | 955,300 | ||||
| Exercise price | $ 18.13 | ||||
| Share based compensation, description | iPic-Gold Class granted 955,300 Non-Qualified Options with an exercise price of $18.13 per share, resulting in a grant date fair value of $4,379. | ||||
| Subsequent Events [Member] | |||||
| Subsequent Events (Textual) | |||||
| Voting power, description | All of the membership interests in iPic-Gold Class were contributed by the Original iPic Equity Owners to Holdings in exchange for all of the membership interests in Holdings (the "LLC Interests"), following which iPic-Gold Class became 100% owned and controlled by Holdings | ||||
| Minimum lease obligation | $ 4,100 | ||||
| Private placement from an affiliate | $ 2,500 | ||||
| Description of initial public offering | Upon the closing of the IPO, the Company issued certain warrants to the selling agents (the "Selling Agents' Warrants") to purchase a number of shares of the Common Stock equal to 2.2% of the total shares of the Common Stock sold in the IPO. This equated to 18,005 shares being issued as part of the Selling Agents' Warrants agreement. The Selling Agents' Warrants are exercisable commencing approximately 13 months after the date of the applicable closing, and will be exercisable for three and a half years after such date. The Selling Agents' Warrants are not redeemable by the Company. The exercise price for the Selling Agents' Warrants is $23.125 which equals 125% of the public offering price of $18.50. | ||||
| Subsequent Events [Member] | Class A Common Stock [Member] | |||||
| Subsequent Events (Textual) | |||||
| Ownership interests, percentage | 100.00% | ||||
| Outstanding class A common stock | 429,730 | ||||
| Subsequent Events [Member] | Class B Common Stock [Member] | |||||
| Subsequent Events (Textual) | |||||
| Outstanding class A common stock | 9,926,621 | ||||
| Subsequent Events [Member] | IPO [Member] | |||||
| Subsequent Events (Textual) | |||||
| Ownership interests, percentage | 7.32% | ||||
| Outstanding class A common stock | 818,429 | ||||
| Net proceeds | $ 13,600 | ||||
| Offering price per share | $ 18.50 | ||||
| Voting power, description | Class A Common Stockholders own 1,248,159 shares of Class A Common Stock, representing approximately 11.17% of the combined voting power of our Class A and Class B Common Stock, and participate in approximately 11.17% of the economic interest in Holdings | ||||
| Subsequent Events [Member] | iPic Equity Owners [Member] | |||||
| Subsequent Events (Textual) | |||||
| Outstanding class A common stock | 1,248,159 | ||||
| Voting power, description | (i) LLC Interests, representing 88.83% of the economic interest in Holdings, and (ii) through their ownership of Class A and Class B Common Stock, approximately 92.68% of the combined voting power of our Class A and Class B Common Stock. | ||||
