The Arena Group Holdings, Inc. (AREN) 10-Q 16 Aug 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	Aug. 13, 2021
Cover [Abstract]
Entity Registrant Name	theMaven, Inc.
Entity Central Index Key	0000894871
Document Type	10-Q
Document Period End Date	Mar. 31, 2021
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	No
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		263,441,879
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 4,524,734	$ 9,033,872
Restricted cash	500,809	500,809
Accounts receivable, net	14,089,590	16,497,626
Subscription acquisition costs, current portion	31,171,595	28,146,895
Royalty fees, current portion	15,000,000	15,000,000
Prepayments and other current assets	6,422,576	4,667,263
Total current assets	71,709,304	73,846,465
Property and equipment, net	1,117,403	1,129,438
Operating lease right-of-use assets	18,108,197	18,292,196
Platform development, net	7,463,671	7,355,608
Royalty fees, net of current portion	7,500,000	11,250,000
Subscription acquisition costs, net of current portion	18,682,545	13,358,585
Acquired and other intangible assets, net	66,550,845	71,501,835
Other long-term assets	1,568,502	1,330,812
Goodwill	16,139,377	16,139,377
Total assets	208,839,844	214,204,316
Current liabilities:
Accounts payable	10,148,600	8,228,977
Accrued expenses and other	16,735,761	14,718,193
Line of credit	5,426,790	7,178,791
Unearned revenue	65,863,189	61,625,676
Subscription refund liability	4,772,991	4,035,531
Operating lease liabilities	1,022,294	1,059,671
Liquidated damages payable	9,822,725	9,568,091
Warrant derivative liabilities	1,812,931	1,147,895
Total current liabilities	115,605,281	107,562,825
Unearned revenue, net of current portion	28,300,040	23,498,597
Restricted stock liabilities, net of current portion	1,519,156	1,995,810
Operating lease liabilities, net of current portion	19,680,225	19,886,083
Other long-term liabilities	597,678	753,365
Deferred tax liabilities	210,832	210,832
Long-term debt	64,754,198	62,194,272
Total liabilities	230,667,410	216,101,784
Commitments and contingencies (Note 12)
Mezzanine equity:
Total mezzanine equity	18,415,992	18,415,992
Stockholders' deficiency:
Common stock, $0.01 par value, authorized 1,000,000,000 shares; issued and outstanding: 37,474,736 and 37,119,117 shares at March 31, 2021 and December 31, 2020, respectively	2,303,264	2,290,851
Common stock to be issued	10,809	10,809
Additional paid-in capital	145,178,960	139,658,166
Accumulated deficit	(187,736,591)	(162,273,286)
Total stockholders' deficiency	(40,243,558)	(20,313,460)
Total liabilities, mezzanine equity and stockholders' deficiency	208,839,844	214,204,316
Series G Redeemable and Convertible Preferred Stock [Member]
Mezzanine equity:
Total mezzanine equity	168,496	168,496
Series H Convertible Preferred Stock [Member]
Mezzanine equity:
Total mezzanine equity	$ 18,247,496	$ 18,247,496

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	230,326,425	229,085,167
Common stock, shares outstanding	230,326,425	229,085,167
Series G Redeemable and Convertible Preferred Stock [Member]
Temporary equity, par value	$ 0.01	$ 0.01
Temporary equity, liquidation preference per share value	$ 1,000	$ 1,000
Temporary equity, shares authorized	1,800	1,800
Temporary equity, liquidation preference value	$ 168,496	$ 168,496
Temporary equity, shares issued	168,496	168,496
Temporary equity, shares outstanding	168,496	168,496
Temporary equity, common shares issuable upon conversion	$ 188,791	$ 188,791
Series H Convertible Preferred Stock [Member]
Temporary equity, par value	$ 0.01	$ 0.01
Temporary equity, liquidation preference per share value	$ 1,000	$ 1,000
Temporary equity, shares authorized	23,000	23,000
Temporary equity, liquidation preference value	$ 19,597,000	$ 19,597,000
Temporary equity, shares issued	19,597	19,597
Temporary equity, shares outstanding	19,597	19,597
Temporary equity, common shares issuable upon conversion	$ 59,384,849	$ 59,384,849

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Revenue	$ 33,615,481	$ 30,412,853
Cost of revenue (includes amortization of developed technology and platform development for 2021 and 2020 of $2,166,415 and $2,040,129, respectively)	28,208,372	26,738,833
Gross profit	5,407,109	3,674,020
Operating expenses
Selling and marketing	17,528,709	9,359,938
General and administrative	5,638,830	10,410,205
Depreciation and amortization	3,963,234	4,096,680
Total operating expenses	27,130,773	23,866,823
Loss from operations	(21,723,664)	(20,192,803)
Other (expense) income
Change in valuation of warrant derivative liabilities	(665,036)	139,219
Change in valuation of embedded derivative liabilities		1,621,000
Interest expense	(2,819,971)	(3,799,728)
Interest income		1,743
Liquidated damages	(254,634)	(546,055)
Other
Total other expense	(3,739,641)	(2,583,821)
Loss before income taxes	(25,463,305)	(22,776,624)
Income taxes
Net loss	$ (25,463,305)	$ (22,776,624)
Basic and diluted net loss per common share	$ (0.11)	$ (0.59)
Weighted average number of common shares outstanding - basic and diluted	230,033,140	38,643,277

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Amortization cost of developed technology and platform development	$ 2,166,415	$ 2,040,129

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Deficiency (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Common Stock [Member]
Balance	$ 2,290,851	$ 371,190
Balance, shares	229,085,167	37,119,117
Issuance of restricted stock units in connection with the acquisition of LiftIgniter
Issuance of restricted stock units in connection with the acquisition of LiftIgniter, Shares
Issuance of restricted stock awards to the board of directors	$ 8,052	$ 5,625
Issuance of restricted stock awards to the board of directors, shares	805,165	562,500
Repurchase restricted stock classified as liabilities	$ (1,331)
Repurchase restricted stock classified as liabilities, shares	(133,068)
Issuance of common stock for restricted stock units in connection with the acquisition of LiftIgniter	$ 2,567
Issuance of common stock for restricted stock units in connection with the acquisition of LiftIgniter, shares	256,661
Issuance of common stock in connection with professional services	$ 3,125
Issuance of common stock in connection with professional services, shares	312,500
Common stock withheld for taxes		$ (2,069)
Common stock withheld for taxes, shares		(206,881)
Stock-based compensation
Net loss
Balance	$ 303,264	$ 374,746
Balance, shares	230,326,425	37,474,736
Common Stock to be Issued [Member]
Balance	$ 10,809	$ 39,383
Balance, shares	1,080,930	3,938,287
Issuance of restricted stock units in connection with the acquisition of LiftIgniter
Issuance of restricted stock units in connection with the acquisition of LiftIgniter, Shares
Issuance of restricted stock awards to the board of directors
Issuance of restricted stock awards to the board of directors, shares
Repurchase restricted stock classified as liabilities
Repurchase restricted stock classified as liabilities, shares
Common stock withheld for taxes
Common stock withheld for taxes, shares
Stock-based compensation
Net loss
Balance	$ 10,809	$ 39,383
Balance, shares	1,080,930	3,938,287
Additional Paid-in Capital [Member]
Balance	$ 139,658,166	$ 35,562,766
Issuance of restricted stock units in connection with the acquisition of LiftIgniter		500,000
Issuance of restricted stock awards to the board of directors	(8,052)	(5,625)
Repurchase restricted stock classified as liabilities	1,331
Issuance of common stock for restricted stock units in connection with the acquisition of LiftIgniter	(2,567)
Issuance of common stock in connection with professional services	121,875
Common stock withheld for taxes		(167,412)
Stock-based compensation	5,408,207	3,930,172
Net loss
Balance	145,178,960	39,819,901
Accumulated Deficit [Member]
Balance	(162,273,286)	(73,041,323)
Issuance of restricted stock units in connection with the acquisition of LiftIgniter
Issuance of restricted stock awards to the board of directors
Repurchase restricted stock classified as liabilities
Common stock withheld for taxes
Stock-based compensation
Net loss	(25,463,305)	(22,776,624)
Balance	(187,736,591)	(95,817,947)
Balance	(20,313,460)	(37,067,984)
Issuance of restricted stock units in connection with the acquisition of LiftIgniter		500,000
Issuance of restricted stock awards to the board of directors
Repurchase restricted stock classified as liabilities
Issuance of common stock in connection with professional services	125,000
Common stock withheld for taxes		(169,481)
Stock-based compensation	5,408,207	3,930,172
Net loss	(25,463,305)	(22,776,624)
Balance	$ (40,243,558)	$ (55,583,917)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Cash flows from operating activities
Net loss	$ (25,463,305)	$ (22,776,624)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of property and equipment	109,814	183,261
Amortization of platform development and intangible assets	6,019,835	5,953,548
Amortization of debt discounts	694,236	1,570,853
Change in valuation of warrant derivative liabilities	665,036	(139,219)
Change in valuation of embedded derivative liabilities		(1,621,000)
Accrued interest	1,865,690	2,046,893
Liquidated damages	254,634	546,055
Stock-based compensation	5,099,012	3,560,120
Other	(508,665)	(213,982)
Change in operating assets and liabilities net of effect of business combination:
Accounts receivable	2,916,701	621,643
Subscription acquisition costs	(8,348,660)	(3,104,468)
Royalty fees	3,750,000	3,750,000
Prepayments and other current assets	(1,630,313)	(623,057)
Other long-term assets	(237,690)	(365,481)
Accounts payable	1,919,623	2,547,552
Accrued expenses and other	1,821,317	(3,730,191)
Unearned revenue	9,038,956	1,337,842
Subscription refund liability	737,460	(96,241)
Operating lease liabilities	(214,923)	398,843
Net cash used in operating activities	(1,511,242)	(10,153,653)
Cash flows from investing activities
Purchases of property and equipment	(97,779)	(859,079)
Capitalized platform development	(867,713)	(853,926)
Payments for acquisition of business		(315,289)
Net cash used in investing activities	(965,492)	(2,028,294)
Cash flows from financing activities
Proceeds from delayed draw term note		6,000,000
Borrowings (repayments) under line of credit	(1,752,001)	5,415,914
Payment for taxes related to repurchase of restricted common stock		(169,481)
Payment of restricted stock liabilities	(280,403)		$ (177,425)
Net cash provided by (used for) financing activities	(2,032,404)	11,246,433
Net decrease in cash, cash equivalents, and restricted cash	(4,509,138)	(935,514)
Cash, cash equivalents, and restricted cash - beginning of period	9,534,681	9,473,090	9,473,090
Cash, cash equivalents, and restricted cash - end of period	5,025,543	8,537,576	$ 9,534,681
Supplemental disclosure of cash flow information
Cash paid for interest	260,045	181,982
Cash paid for income taxes
Noncash investing and financing activities
Reclassification of stock-based compensation to platform development	309,195	370,052
Issuance of common stock in connection with professional services	125,000
Debt discount on delayed draw term note		913,865
Restricted stock units issued in connection with acquisition of LiftIgniter		500,000
Assumption of liabilities in connection with acquisition of LiftIgniter		$ 140,381

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies Basis of Presentation The condensed consolidated financial statements include the accounts of TheMaven, Inc. and its wholly owned subsidiaries (“Maven” or the “Company”), after eliminating all significant intercompany balances and transactions. The Company does not have any off-balance sheet arrangements. The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements, which are included in Maven’s Annual Report on Form 10-K (the “Form 10-K”) for the year ended December 31, 2020, filed with the SEC on August 16, 2021. The condensed consolidated financial statements as of December 31, 2020, and for the three months ended March 31, 2021 and 2020, are unaudited but, in management’s opinion, include all adjustments necessary for a fair presentation of the results of interim periods. All such adjustments are of a normal recurring nature. The year-end condensed consolidated balance sheet as of December 31, 2020, was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The results of operations for interim periods are not necessarily indicative of the results to be expected for the entire fiscal year. The Company’s impact during the first quarter of 2021 by the novel coronavirus (“COVID-19”) pandemic has been to a lesser extent than in 2020. Beginning in 2021, restrictions on non-essential work activity have begun to lift and sporting and other events have begun to be held, with attendance closer to pre-pandemic levels, which has resulted in an increase in traffic and advertising revenue. The Company expects a continued modest growth in advertising revenue back toward pre-pandemic levels, however, such growth depends on future developments, including the duration and spread of the COVID-19 pandemic, whether related group gathering and sports event advisories and restrictions will be put in place again, and the extent and effectiveness of containment and other actions taken, including the percentage of the population that receives COVID-19 vaccinations. Reclassifications Certain prior year amounts have been reclassified to conform to the fiscal 2020 presentation. Use of Estimates Preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and the accompanying notes. Actual results could differ materially from these estimates. On an ongoing basis, the Company evaluates its estimates, including those related to the allowance for credit losses, fair values of financial instruments, capitalization of platform development, intangible assets and goodwill, useful lives of intangible assets and property and equipment, income taxes, fair value of assets acquired and liabilities assumed in the business acquisitions, determination of the fair value of stock-based compensation and valuation of derivatives liabilities and contingent liabilities, among others. The Company bases its estimates on assumptions, both historical and forward looking, that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Contract Modifications The Company occasionally enters into amendments to previously executed contracts that constitute contract modifications. The Company assesses each of these contract modifications to determine: ● if the additional services and goods are distinct from the services and goods in the original arrangement; and ● if the amount of consideration expected for the added services or goods reflects the stand-alone selling price of those services and goods. A contract modification meeting both criteria is accounted for as a separate contract. A contract modification not meeting both criteria is considered a change to the original contract and is accounted for on either a prospective basis as a termination of the existing contract and the creation of a new contract, or a cumulative catch-up basis (see Note 3 and Note 11). Recently Adopted Accounting Standards In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40) In October 2020, the FASB issued ASU 2020-08, Codification Improvements to Subtopic 310-20 – Receivables – Nonrefundable Fees and Other Costs In October 2020, the FASB issued ASU 2020-10, Codification Improvements Loss per Common Share Basic loss per share is computed using the weighted average number of common shares outstanding during the period and excludes any dilutive effects of common stock equivalent shares, such as stock options, restricted stock, and warrants. All restricted stock awards are considered outstanding but is included in the computation of basic loss per common share only when the underlying restrictions expire, the shares are no longer forfeitable, and are thus vested. All restricted stock units are included in the computation of basic loss per common share only when the underlying restrictions expire, the shares are no longer forfeitable, and are thus vested. Contingently issuable shares are included in basic loss per common share only when there are no circumstances under which those shares would not be issued. Diluted loss per common share is computed using the weighted average number of common shares outstanding and common stock equivalent shares outstanding during the period using the treasury stock method. Common stock equivalent shares are excluded from the computation if their effect is anti-dilutive. The Company excluded the outstanding securities summarized below (capitalized terms are described herein), which entitle the holders thereof to acquire shares of the Company’s common stock, from its calculation of net income loss per common share, as their effect would have been anti-dilutive. As of March 31, 2021 2020 Series G convertible preferred stock 188,791 188,791 Series H Preferred Stock 59,384,849 58,787,879 Series I Preferred Stock - 46,200,000 Series J Preferred Stock - 28,571,428 Indemnity shares of common stock - 412,500 Restricted Stock Awards 316,667 1,991,665 Financing Warrants 2,882,055 2,882,055 ABG Warrants 21,989,844 21,989,844 AllHipHop warrants 125,000 - Publisher Partner Warrants 789,541 939,540 Restricted Stock Units - 2,399,997 Common Stock Awards 7,078,723 8,063,811 Common Equity Awards 157,945,671 77,106,507 Outside Options 3,050,000 3,730,667 Total 253,751,141 253,264,684

Acquisition

Acquisition	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Acquisitions	2. Acquisition On March 9, 2020, the Company entered into an asset purchase agreement with Petametrics Inc., dba LiftIgniter, a Delaware corporation (“LiftIgniter”), where it purchased substantially all the assets, including the intellectual property and excluding certain accounts receivable, and assumed certain liabilities. The purchase price consisted of: (1) a cash payment of $184,087 on February 19, 2020, in connection with the repayment of all outstanding indebtedness, (2) at closing, a cash payment of $131,202, (3) collections of certain accounts receivable, (4) on the first anniversary date of the closing, the issuance of restricted stock units for an aggregate of up to 312,500 shares of the Company’s common stock (of which 256,661 shares of the Company’s common stock were issued during the three months ended March 31, 2021 and 55,839 are to be issued), and (5) on the second anniversary date of the closing, the issuance of restricted stock units for an aggregate of up to 312,500 shares of the Company’s common stock. The composition of the purchase price is as follows: Cash $ 315,289 Indemnity restricted stock units for shares of common stock 500,000 Total purchase consideration $ 815,289 The purchase price allocation resulted in the following amounts being allocated to the assets acquired and liabilities assumed at the closing date of the acquisition based upon their respective fair values as summarized below: Accounts receivable $ 37,908 Developed technology 917,762 Accounts payable (53,494 ) Unearned revenue (86,887 ) Net assets acquired $ 815,289 The useful life for the developed technology is three years (3.0 years).

Balance Sheet Components

Balance Sheet Components	3 Months Ended
	Mar. 31, 2021
Balance Sheet Components
Balance Sheet Components	3. Balance Sheet Components The components of certain balance sheet amounts are as follows: Accounts Receivable Subscription Acquisition Costs Certain contract amendments resulted in a modification to the subscription acquisition costs that will be recognized on a prospective basis in the same proportion as the revenue that has not yet been recognized (further details are provided under the heading Contract Balances Property and Equipment As of March 31, 2021 December 31, 2020 Office equipment and computers $ 1,439,071 $ 1,341,292 Furniture and fixtures 19,997 19,997 Leasehold improvements 345,516 345,516 1,804,584 1,706,805 Less accumulated depreciation and amortization (687,181 ) (577,367 ) Net property and equipment $ 1,117,403 $ 1,129,438 Depreciation and amortization expense for the three months ended March 31, 2021 and 2020 was $109,814 and $638,796, respectively. Depreciation and amortization expense is included in selling and marketing expenses and general and administrative expenses, as appropriate, on the consolidated statements of operations. Platform Development As of March 31, 2021 December 31, 2020 Platform development $ 17,204,336 $ 16,027,428 Less accumulated amortization (9,740,665 ) (8,671,820 ) Net platform development $ 7,463,671 $ 7,355,608 A summary of platform development activity for the three months ended March 31, 2021 and year ended December 31, 2020 is as follows: As of March 31, 2021 December 31, 2020 Platform development beginning of period $ 16,027,428 $ 10,678,692 Payroll-based costs capitalized during the period 867,713 3,750,541 Total capitalized costs 16,895,141 14,429,233 Stock-based compensation 309,195 1,608,995 Dispositions - (10,800 ) Platform development end of period $ 17,204,336 $ 16,027,428 Amortization expense for the three months ended March 31, 2021 and 2020, was $1,068,845 and $920,824, respectively. Intangible Assets As of March 31, 2021 As of December 31, 2020 Carrying Amount Accumulated Amortization Net Carrying Amount Carrying Amount Accumulated Net Carrying Amount Developed technology $ 19,070,857 $ (9,381,310 ) $ 9,689,547 $ 19,070,857 $ (8,283,740 ) $ 10,787,117 Noncompete agreement 480,000 (480,000 ) - 480,000 (480,000 ) - Trade name 3,328,000 (572,992 ) 2,755,008 3,328,000 (503,342 ) 2,824,658 Subscriber relationships 73,458,799 (21,734,342 ) 51,724,457 73,458,799 (18,105,041 ) 55,353,758 Advertiser relationships 2,240,000 (391,984 ) 1,848,016 2,240,000 (332,515 ) 1,907,485 Database 1,140,000 (626,183 ) 513,817 1,140,000 (531,183 ) 608,817 Subtotal amortizable intangible assets 99,717,656 (33,186,811 ) 66,530,845 99,717,656 (28,235,821 ) 71,481,835 Website domain name 20,000 - 20,000 20,000 - 20,000 Total intangible assets $ 99,737,656 $ (33,186,811 ) $ 66,550,845 $ 99,737,656 $ (28,235,821 ) $ 71,501,835 Amortization expense for the three months ended March 31, 2021 and 2020 was $4,950,990 and $5,032,724, respectively. No impairment charges have been recorded during for the three months ended March 31, 2021 and 2020.

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	4. Leases The Company’s leases are primarily comprised of real estate leases for the use of office space, with certain lease arrangements that contain equipment. The Company determines whether an arrangement contains a lease at inception. Lease assets and liabilities are recognized upon commencement of the lease based on the present value of the future minimum lease payments over the lease term. The lease term includes options to extend the lease when it is reasonably certain that the Company will exercise that option. Substantially all of the leases are long-term operating leases for facilities with fixed payment terms between 1.5 and 12.8 years. The table below presents supplemental information related to operating leases: Three Months Ended March 31, 2021 Operating cash flows for operating leases $ 968,473 Noncash lease liabilities arising from obtaining operating leased assets during the period $ - Weighted-average remaining lease term 11.02 Weighted-average discount rate 13.58 % The Company generally utilizes its incremental borrowing rate based on information available at the commencement of the lease in determining the present value of future payments since the implicit rate for most of the Company’s leases is not readily determinable. Variable lease expense includes rental increases that are not fixed, such as those based on amounts paid to the lessor based on cost or consumption, such as maintenance and utilities. Operating lease costs recognized for the three months ended March 31, 2021 and 2020 were $908,465 and $1,037,904, respectively. Maturities of operating lease liabilities as of March 31, 2021 are summarized as follows: Years Ending December 31, 2021 (remaining nine months of the year) $ 2,836,380 2022 3,525,158 2023 3,528,696 2024 3,526,406 2025 3,740,591 Thereafter 23,822,981 Minimum lease payments 40,980,212 Less imputed interest (20,277,693 ) Present value of operating lease liabilities $ 20,702,519 Current portion of operating lease liabilities $ 1,022,294 Long-term portion of operating lease liabilities 19,680,225 Total operating lease liabilities $ 20,702,519

Line of Credit

Line of Credit	3 Months Ended
	Mar. 31, 2021
Line of Credit Facility [Abstract]
Line of Credit	5. Line of Credit FastPay Credit Facility

Restricted Stock Liabilities

Restricted Stock Liabilities	3 Months Ended
	Mar. 31, 2021
Restricted Stock Liabilities
Restricted Stock Liabilities	6. Restricted Stock Liabilities On December 15, 2020, the Company entered into an amendment for certain restricted stock awards and units that were previously issued to certain employees in connection with a previous merger. Pursuant to the amendment, the Company committed to repurchase 1,064,549 vested restricted stock awards as of December 31, 2020 at a price of $4.00 per share in 24 equal monthly installments on the second business day of each calendar month beginning January 4, 2021, subject to certain conditions. The following table presents the components of the restricted stock liabilities as of March 31, 2021 and December 31, 2020: As of March 31, 2021 December 31, 2020 Restricted stock liabilities recorded upon modification of the restricted stock awards and units (1,064,549 restricted stock to be purchased at $4.00 per share) $ 4,258,196 $ 4,258,196 Less imputed interest (457,461 ) (457,462 ) Present value of restricted stock liabilities 3,800,735 3,800,734 Less payments (excluding imputed interest) (457,829 ) (177,425 ) Restricted stock liabilities $ 3,342,906 $ 3,623,309 Current portion of restricted stock liabilities $ 1,823,750 $ 1,627,499 Long-term portion of restricted stock liabilities 1,519,156 1,995,810 Total restricted stock liabilities $ 3,342,906 $ 3,623,309

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	7. Fair Value Measurements The Company estimates the fair value of financial instruments using available market information and valuation methodologies the Company believes to be appropriate for these purposes. Considerable judgment and a high degree of subjectivity are involved in developing these estimates and, accordingly, they are not necessarily indicative of amounts the Company would realize upon disposition. The fair value hierarchy consists of three broad levels of inputs that may be used to measure fair value, which are described below: ● Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities; ● Level 2 Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and ● Level 3 Assets or liabilities for which fair value is based on valuation models with significant unobservable pricing inputs and which result in the use of management estimates. The Company accounts for certain warrants (as described under the heading Common Stock Warrants These warrants and the embedded conversion features are classified as Level 3 within the fair-value hierarchy. Inputs to the valuation model include the Company’s publicly quoted stock price, the stock volatility, the risk-free interest rate, the remaining life of the warrants, notes and debentures, the exercise price or conversion price, and the dividend rate. The Company uses the closing stock price of its common stock over an appropriate period of time to compute stock volatility. Warrant Derivative Liabilities The following table presents the assumptions used for the warrant derivative liabilities under the Black-Scholes option-pricing model: As of March 31, 2021 As of December 31, 2020 Strome Warrants B. Riley Warrants Strome Warrants B. Riley Warrants Expected life 2.21 4.55 2.45 4.79 Risk-free interest rate 0.16 % 0.92 % 0.13 % 0.36 % Volatility factor 150.37 % 151.48 % 150.55 % 140.95 % Dividend rate 0 % 0 % 0 % 0 % Transaction date closing market price $ 0.91 $ 0.91 $ 0.60 $ 0.60 Exercise price $ 0.50 $ 1.00 $ 0.50 $ 1.00 The following table represents the carrying amounts and change in valuation for the Company’s warrants accounted for as a derivative liability and classified within Level 3 of the fair-value hierarchy: As of and for the Three Months Ended March 31, 2021 As of and for the Three Months Ended March 31, 2020 Carry Amount at Beginning of Period Change in Valuation Carrying Amount at End of Period Carry Amount at Beginning of Period Change in Valuation Carrying Amount at End of Period Strome Warrants $ 704,707 $ 398,861 $ 1,103,568 $ 1,036,687 $ (110,081 ) $ 926,606 B. Riley Warrants 443,188 266,175 709,363 607,513 (29,138 ) 578,375 Total $ 1,147,895 $ 665,036 $ 1,812,931 $ 1,644,200 $ (139,219 ) $ 1,504,981 For the three months ended March 31, 2021 and 2020, the change in valuation of warrant derivative liabilities recognized as other income (expense) on the condensed consolidated statement of operations, as described in the above table, was ($665,036) and $139,219, respectively. Embedded Derivative Liabilities For the three months ended March 30, 2020, the change in valuation of embedded derivative liabilities recognized as other income on the condensed consolidated statements of operations was $1,621,000.

Long-term Debt

Long-term Debt	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Long-term Debt	8. Long-term Debt 12% Second Amended Senior Secured Notes Below is a summary of the various amended and restated notes, as well as various amendments thereto, to the 12% senior secured note that was originally issued on June 10, 2019, for gross proceeds of $20,000,000. The transactions leading up to the 12% second amended and restated note that is outstanding as of March 31, 2021 consisted of: ● Amended and restated note issued on June 14, 2019, where the Company received gross proceeds of $48,000,000, together with the $20,000,000 gross proceeds received on June 10, 2019 for total gross proceeds of $68,000,000, due June 14, 2022; ● First amendment to the amended and restated note issued on August 27, 2019, where the Company received gross proceeds of $3,000,000; ● Second amendment to the amended and restated note issued on February 27, 2020, where the Company issued a $3,000,000 letter of credit to the Company’s landlord for leased premises; and ● Second amended and restated note issued on March 24, 2020, where the Company was permitted to enter into a 15.0% delayed draw term note, in the aggregate principal amount of $12,000,000. ● First amendment to second amended and restated note issued on March 24, 2020 was entered into on October 23, 2020 (“Amendment 1”), where the maturity date was changed to December 31, 2022, subject to certain acceleration conditions and interest payable on the notes on September 30, 2020, December 31, 2020, March 31, 2021, June 30, 2021, September 30, 2021, and December 31, 2021 will be payable in-kind in arrears on the last day of such fiscal quarter. Alternatively, at the option of the holder, such interest amounts originally could have been paid in shares of Series K convertible preferred stock (the “Series K Preferred Stock”); however, after December 18, 2020, the date the Series K Preferred Stock converted into shares of the Company’s common stock, such interest amounts can be converted into shares of the Company’s common stock based upon the conversion rate specified in the Certificate of Designation for the Series K Preferred Stock, subject to certain adjustments. Collectively the amended and restated notes and amendments thereto and the second amended and restated notes and Amendment 1 thereto are referred to as the “12% Second Amended Senior Secured Notes,” with all borrowings collateralized by substantially all assets of the Company. Delayed Draw Term Note On March 24, 2020, the Company entered into a 15% delayed draw term note (the “Delayed Draw Term Note”) pursuant to the second amended and restated note purchase agreement, in the aggregate principal amount of $12,000,000. On March 24, 2020, the Company drew down $6,913,865 under the Delayed Draw Term Note, and after payment of commitment and funding fees paid of $793,109, and other of its legal fees and expenses that were incurred, the Company received net proceeds of $6,000,000. The net proceeds were used for working capital and general corporate purposes. Additional borrowings under the Delayed Draw Term Note requested by the Company may be made at the option of the purchasers, subject to certain conditions. Up to $8,000,000 in principal amount under the note was originally due on March 31, 2021. Interest on amounts outstanding under the note was payable in-kind in arrears on the last day of each fiscal quarter. On October 23, 2020, pursuant to the terms of Amendment 1, the maturity date of the Delayed Draw Term Note was changed from March 31, 2021 to March 31, 2022. Amendment 1 also provided that the holder, could originally elect, in lieu of receipt of cash for payment of all or any portion of the interest due or cash payments up to a certain conversion portion of the Delayed Draw Term Note, to receive shares of Series K Preferred Stock; however, after December 18, 2020, the date the Series K Preferred Stock converted into shares of the Company’s common stock, the holder may elect, in lieu of receipt of cash for such amounts, shares of the Company’s common stock at the price the Company last sold shares of the Company’s common stock. Paycheck Protection Program Loan On April 6, 2020, the Company entered into a note agreement with JPMorgan Chase Bank, N.A. (“JPMorgan Chase”) under the recently enacted Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) administered by the U.S. Small Business Administration (“SBA”) (the “Paycheck Protection Program Loan”). The Company received total proceeds of $5,702,725 under the Paycheck Protection Program Loan. In accordance with the requirements of the CARES Act, the Company used proceeds from the Paycheck Protection Program Loan primarily for payroll costs. The Paycheck Protection Program Loan was scheduled to mature on April 6, 2022, with a 0.98% interest rate and is subject to the terms and conditions applicable to loans administered by the SBA under the CARES Act. The Paycheck Protection Program Loan was fully forgiven on June 22, 2021. Further details as of the date these condensed consolidated financial statements were issued or were available to be issued are provided under the heading Long-term Debt The following table summarizes the long-term debt: As of March 31, 2021 As of December 31, 2020 Principal Balance (including accrued interest) Unamortized Discount and Debt Issuance Costs Carrying Value Principal Balance (including accrued interest) Unamortized Discount and Debt Issuance Costs Carrying Value 12% Second Amended Senior Secured Note, as amended, due on December 31, 2022 $ 57,984,974 $ (3,356,743 ) $ 54,628,231 $ 56,296,091 $ (3,739,690 ) $ 52,556,401 Delayed Draw Term Note, as amended, due on March 31, 2022 4,457,153 (47,883 ) 4,409,270 4,294,318 (359,172 ) 3,935,146 Paycheck Protection Program Loan, scheduled to mature April 6, 2022, however, fully forgiven on June 22, 2021 5,716,697 - 5,716,697 5,702,725 - 5,702,725 Total $ 68,158,824 $ (3,404,626 ) $ 64,754,198 $ 66,293,134 $ (4,098,862 ) $ 62,194,272

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Stockholders' Equity	9. Stockholders’ Equity Common Stock The Company has the authority to issue 1,000,000,000 shares of common stock, $0.01 par value per share. Common Stock Warrants The Company issued warrants to purchase shares of the Company’s common stock to MDB Capital Group, LLC (the “MDB Warrants”), L2 Capital, LLC (the “L2 Warrants”), Strome Mezzanine Fund LP (the “Strome Warrants”), and B. Riley Financial, Inc. (the “B. Riley Warrants”) in connection with various financing transactions (collectively, the “Financing Warrants”). The Financing Warrants outstanding and exercisable as of March 31, 2021 are summarized as follows: Outstanding Exercise Price Expiration Date Classified as Derivative Liabilities (Shares) Classified within Stockholders’ Equity (Shares) Total Exercisable (Shares) MDB Warrants $ 0.20 November 4, 2021 - 327,490 327,490 Strome Warrants 0.50 June 15, 2023 1,500,000 - 1,500,000 B. Riley Warrants 1.00 October 18, 2025 875,000 - 875,000 MDB Warrants 1.15 October 19, 2022 - 119,565 119,565 MDB Warrants 2.50 October 19, 2022 - 60,000 60,000 Total outstanding and exercisable 2,375,000 507,055 2,882,055 The intrinsic value of exercisable but unexercised in-the-money stock warrants as of March 31, 2021 was $847,518, based on a fair market value of the Company’s common stock of $0.91 per share on March 31, 2021.

Compensation Plans

Compensation Plans	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Compensation Plans	10. Compensation Plans The Company provides stock-based compensation in the form of (a) stock awards to employees and directors, comprised of restricted stock awards and restricted stock units (collectively referred to as the “Restricted Stock Awards”), (b) stock option grants to employees, directors and consultants (referred to as the “Common Stock Awards”) (c) stock option awards, restricted stock awards, unrestricted stock awards, and stock appreciation rights to employees, directors and consultants (collectively the “Common Equity Awards”), (d) stock option awards outside of the 2016 Stock Incentive Plan and 2019 Equity Incentive Plan to certain officers, directors and employees (referred to as the “Outside Options”), (e) common stock warrants to the Company’s publisher partners (referred to as the “Publisher Partner Warrants”), and (f) common stock warrants to ABG-SI, LLC (referred to as the “ABG Warrants”). Stock-based compensation and equity-based expense charged to operations or capitalized during the three months ended March 31, 2021 and 2020 are summarized as follows: Restricted Common Common Publisher Stock Stock Equity Outside Partner ABG Awards Awards Awards Options Warrants Warrants Totals During the Three Months Ended March 31, 2021 Cost of revenue $ 24,460 $ 127,063 $ 1,290,374 $ 2,041 $ - $ - $ 1,443,938 Selling and marketing - 5,038 971,513 74,806 - - 1,051,357 General and administrative 3,445 117,327 2,126,615 - - 356,330 2,603,717 Total costs charged to operations 27,905 249,428 4,388,502 76,847 - 356,330 5,099,012 Capitalized platform development 4,823 2,720 300,034 1,618 - - 309,195 Total stock-based compensation $ 32,728 $ 252,148 $ 4,688,536 $ 78,465 $ - $ 356,330 $ 5,408,207 During the Three Months Ended March 31, 2020 Cost of revenue $ 37,576 $ 69,796 $ 1,009,592 $ 1,206 $ 8,039 $ - $ 1,126,209 Selling and marketing 299,215 35,728 678,279 55,378 - - 1,068,600 General and administrative 22,920 171,672 755,247 55,183 - 360,289 1,365,311 Total costs charged to operations 359,711 277,196 2,443,118 111,767 8,039 360,289 3,560,120 Capitalized platform development 70,283 41,157 256,001 2,611 - - 370,052 Total stock-based compensation $ 429,994 318,353 $ 2,699,119 $ 114,378 $ 8,039 $ 360,289 $ 3,930,172 Unrecognized compensation expense and expected weighted-average period to be recognized related to the stock-based compensation awards and equity-based awards as of March 31, 2021 was as follows: Restricted Common Common Publisher Stock Stock Equity Outside Partner ABG Awards Awards Awards Options Warrants Warrants Totals Unrecognized compensation expense $ 48,891 $ 226,834 $ 67,977,275 $ 292,584 $ - $ 2,857,773 $ 71,403,357 Expected weighted-average period expected to be recognized (in years) 0.70 0.44 2.46 0.94 - 2.13 2.43 Further details as of the date these condensed consolidated financial statements were issued or were available to be issued are provided under the heading Compensation Plans

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	11. Revenue Recognition Disaggregation of Revenue The following table provides information about disaggregated revenue by product line, geographical market and timing of revenue recognition: As of March 31, 2021 2020 Revenue by product line: Advertising $ 11,074,425 $ 11,837,984 Digital subscriptions 7,084,481 5,537,247 Magazine circulation 14,710,023 12,537,532 Other 746,552 500,090 Total $ 33,615,481 $ 30,412,853 Revenue by geographical market: United States $ 32,528,417 $ 29,282,130 Other 1,087,064 1,130,723 Total $ 33,615,481 $ 30,412,853 Revenue by timing of recognition: At point in time $ 26,531,000 $ 24,875,606 Over time 7,084,481 5,537,247 Total $ 33,615,481 $ 30,412,853 Contract Balances The timing of the Company’s performance under its various contracts often differs from the timing of the customer’s payment, which results in the recognition of a contract asset or a contract liability. A contract asset is recognized when a good or service is transferred to a customer and the Company does not have the contractual right to bill for the related performance obligations. A contract liability is recognized when consideration is received from the customer prior to the transfer of goods or services. The following table provides information about contract balances: As of March 31, 2021 December 31, 2020 Unearned revenue (short-term contract liabilities): Digital subscriptions $ 16,815,476 $ 15,039,331 Magazine circulation 49,047,713 46,586,345 $ 65,863,189 $ 61,625,676 Unearned revenue (long-term contract liabilities): Digital subscriptions $ 802,124 $ 593,136 Magazine circulation 27,297,916 22,712,961 Other 200,000 192,500 $ 28,300,040 $ 23,498,597 Unearned Revenue During January and February of 2020, the Company modified certain digital and magazine subscription contracts that prospectively changed the frequency of the related issues required to be delivered on a yearly basis. The Company determined that the remaining digital content and magazines to be delivered are distinct from the digital content or magazines already provided under the original contract. As a result, the Company in effect established a new contract that included only the remaining digital content or magazines. Accordingly, the Company allocated the remaining performance obligations in the contracts as consideration from the original contract that has not yet been recognized as revenue.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies Revenue Guarantees On a select basis, the Company has provided revenue share guarantees to certain independent publishers that transition their publishing operations from another platform to theMaven.net or maven.io. These arrangements generally guarantee the publisher a monthly amount of income for a period of 12 to 24 months from inception of the publisher contract that is the greater of (a) a fixed monthly minimum, or (b) the calculated earned revenue share. For the three months ended March 31, 2021 and 2020, the Company recognized publisher partner guarantees of $1,763,357 and $2,374,087, respectively. Claims and Litigation From time to time, the Company may be subject to claims and litigation arising in the ordinary course of business. The Company is not currently a party to any pending or threatened legal proceedings that it believes would reasonably be expected to have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows. Liquidated Damages The following table summarizes the contingent obligations with respect to the liquidated damages as of the date these condensed consolidated financial statements were issued or were available to be issued: Registration Rights Damages Public Information Failure Damages Accrued Interest Balance Series H Preferred Stock $ - $ 5,236 $ 93,575 $ 98,811 12% Convertible Debentures - - 36,320 36,320 Series I Preferred Stock - - 111,184 111,184 Series J Preferred Stock 240,000 240,000 108,059 588,059 Series K Preferred Stock - 661,680 11,221 672,901 Total $ 240,000 $ 906,916 $ 360,359 $ 1,507,275

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent Events The Company performed an evaluation of subsequent events through the date of filing of these condensed consolidated financial statements with the SEC. Other than the below described subsequent events, there were no material subsequent events which affected, or could affect, the amounts or disclosures on the condensed consolidated financial statements . Compensation Plans From April 2021 through the date these condensed consolidated financial statements were issued or were available to be issued, the Company granted common stock options, restricted stock units and restricted stock awards totaling 6,153,053, all of which remain outstanding. Long-term Debt 12% Second Amended Senior Secured Notes Common Stock The balance outstanding under the 12% Second Amended Senior Secured Notes as of was approximately $60.1 million, which included outstanding principal of approximately $48 Delayed Draw Term Note The balance outstanding under the Delayed Draw Term Note as of the date these condensed consolidated financial statements were issued or were available to be issued was approximately $4.6 million, which included outstanding principal of approximately $3.5 million, and payment of in-kind interest of approximately $1.1 million that the Company was permitted to add to the aggregate outstanding principal balance. Paycheck Protection Program Loan Preferred Stock On May 4, 2021, a special committee of the Board declared a dividend of one preferred stock purchase right to be paid to the stockholders of record at the close of business on May 14, 2021 for (i) each outstanding share of the Company’s common stock and (ii) each share of the Company’s common stock issuable upon conversion of each share of the Company’s Series H convertible preferred stock (the “Series H Preferred Stock”). Each preferred stock purchase right entitles the registered holder to purchase, subject to a rights agreement, from the Company one one-thousandth of a share of the Company’s newly created Series L Junior Participating Preferred Stock, par value $0.01 per share (the “Series L Preferred Stock”), at a price of $4.00, subject to certain adjustments. The Series L Preferred Stock will be entitled, when, as and if declared, to a preferential per share quarterly dividend payment equal to the greater of (i) $1.00 per share or (ii) 1,000 times the aggregate per share amount of all cash dividends, and 1,000 times the aggregate per share amount (payable in kind) of all non-cash dividends or other distributions paid to the holders of the Company’s common stock. The Series L Preferred Stock will be entitled to 1,000 votes on all matters submitted to a vote of the stockholders of the Company. In the event of any merger, consolidation or other transaction in which shares of the Company’s common stock are converted or exchanged, the Series L Preferred Stock will be entitled to receive 1,000 times the amount received per one share of the Company’s common stock. Common Stock On May 20, 2021 and May 25, 2021, the Company entered into securities purchase agreements with several accredited investors, pursuant to which the Company sold an aggregate of 21,435,718 shares of its common stock, at a per share price of $0.70 for aggregate gross proceeds of approximately $15.0 million in a private placement. On June 2, 2021, the Company entered into a securities purchase agreement with an accredited investor, pursuant to which the Company sold an aggregate of 7,142,857 shares of its common stock, at a per share price of $0.70 for gross proceeds of approximately $5.0 million in a private placement that was in addition to the closings that occurred on May 20, 2021 and May 25, 2021 as referenced above. The Company intends to use the proceeds for general corporate purposes. Pursuant to the registration rights agreements entered into in connection with the securities purchase agreements, the Company agreed to register the shares of the Company’s common stock issued in the private placements. The Company committed to file the registration statement on the earlier of: (i) in the event the Company does not obtain a waiver from the holders of the shares of the Company’s common stock that were issued upon the conversion of the Series K Preferred Stock (the “Waiver”), within ten (10) calendar days following the date the Company’s registration statement(s) on Form S-1, registering for resale shares of the Company’s common stock that were issued in connection with offerings prior to the date of the registration rights agreement (the “Prior Registration Statements”), is declared effective by the SEC; and (ii) in the event the Company does obtain the Waiver, the earliest practicable date on which the Company is permitted by the SEC guidance to file the initial registration statement following the filing of the Prior Registration Statements (the “Filing Date”). The Company also committed to cause the registration statement to become effective by no later than 90 days after the Filing Date (or, in the event of a full review by the staff of the SEC, 120 days following the Filing Date). The registration rights agreement provides for Registration Rights Damages upon the occurrence of certain events up to a maximum amount of 6% of the aggregate amount invested pursuant to the securities purchase agreements. The securities purchase agreements included a provision that requires the Company to maintain its periodic filings with the SEC in order to satisfy the public information requirements under Rule 144(c) of the Securities Act. If the Company fails for any reason to satisfy the current public information requirement at any time during the period commencing from the twelve (12) month anniversary of the date the Company becomes current in its filing obligations and ending at such time that all of the common stock may be sold without the requirement for the Company to be in compliance with Rule 144(c)(1) and otherwise without restriction or limitation pursuant to Rule 144, if the Company (i) shall fail for any reason to satisfy the current public information requirement under Rule 144(c) or (ii) has ever been an issuer described in Rule 144(i)(1)(i) or becomes an issuer in the future, and the Company shall fail to satisfy any condition set forth in Rule 144(i)(2) (a “Public Information Failure”) then, in addition to such purchaser’s other available remedies, the Company shall pay to a purchaser, in cash, as partial liquidated damages and not as a penalty, an amount in cash equal to one percent (1.0%) of the aggregate subscription amount of the purchaser’s shares then held by the purchaser on the day of a Public Information Failure and on every thirtieth (30th) day (pro-rated for periods totaling less than thirty days) thereafter until the earlier of (a) the date such Public Information Failure is cured up to a maximum of five (5) 30-day periods and (b) such time that such public information is no longer required for the purchasers to transfer the shares pursuant to Rule 144. Public Information Failure Damages shall be paid on the earlier of (i) the last day of the calendar month during which such Public Information Failure Damages are incurred and (ii) the third (3rd) business day after the event or failure giving rise to the Public Information Failure Damages is cured. In the event the Company fails to make Public Information Failure Damages in a timely manner, such Public Information Failure Damages shall bear interest at the rate of 1.0% per month (prorated for partial months) until paid in full. Heckman Stock Option Modifications On June 3, 2021, the Company and Mr. Heckman, the Company’s former Chief Executive Officer, entered into an amendment to certain option grants under the Company’s 2016 Plan and 2019 Plan. The amendment to the 2016 Plan options, clarifies that the option qualifies as a non-statutory stock option and that it remains exercisable for the remainder of the term of the option. The amendment to the 2019 Plan options, clarifies that the option qualifies as a non-statutory stock option and that it remains exercisable for the remainder of the term of the option. The 2019 Plan amendment also changed the vesting schedule of the option to provide for immediate vesting of 2,000,000 shares of options, with the remainder of the options being subject to performance-based vesting that is tied to the price of the Company’s common stock. Acquisition of College Spun Media Incorporated On June 4, 2021, the Company acquired all of the issued and outstanding shares of capital stock of College Spun Media Incorporated for an aggregate of $11.0 million in cash and the issuance of an aggregate of 4,285,714 restricted shares of the Company’s common stock, with one-half of the shares vesting on the first anniversary of the closing date and the remaining one-half of the shares vesting on the second anniversary of the closing date. The cash payment consists of: (i) $10.8 million paid at closing (additional cash paid at closing of $0.8 million represents adjusted cash pursuant to the agreement), and (ii) $0.5 million to be paid on the first anniversary of the closing and $0.5 million to be paid on the second anniversary date of the closing, subject to a customary working capital adjustment based on cash and accounts receivable as of the closing date. The vesting of shares of the Company’s common stock is subject to the continued employment of certain selling employees.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	The condensed consolidated financial statements include the accounts of TheMaven, Inc. and its wholly owned subsidiaries (“Maven” or the “Company”), after eliminating all significant intercompany balances and transactions. The Company does not have any off-balance sheet arrangements. The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements, which are included in Maven’s Annual Report on Form 10-K (the “Form 10-K”) for the year ended December 31, 2020, filed with the SEC on August 13, 2021. The condensed consolidated financial statements as of December 31, 2020, and for the three months ended March 31, 2021 and 2020, are unaudited but, in management’s opinion, include all adjustments necessary for a fair presentation of the results of interim periods. All such adjustments are of a normal recurring nature. The year-end condensed consolidated balance sheet as of December 31, 2020, was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The results of operations for interim periods are not necessarily indicative of the results to be expected for the entire fiscal year. The Company’s impact during the first quarter of 2021 by the novel coronavirus (“COVID-19”) pandemic has been to a lesser extent than in 2020. Beginning in 2021, restrictions on non-essential work activity have begun to lift and sporting and other events have begun to be held, with attendance closer to pre-pandemic levels, which has resulted in an increase in traffic and advertising revenue. The Company expects a continued modest growth in advertising revenue back toward pre-pandemic levels, however, such growth depends on future developments, including the duration and spread of the COVID-19 pandemic, whether related group gathering and sports event advisories and restrictions will be put in place again, and the extent and effectiveness of containment and other actions taken, including the percentage of the population that receives COVID-19 vaccinations.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the fiscal 2020 presentation.
Use of Estimates	Use of Estimates Preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and the accompanying notes. Actual results could differ materially from these estimates. On an ongoing basis, the Company evaluates its estimates, including those related to the allowance for credit losses, fair values of financial instruments, capitalization of platform development, intangible assets and goodwill, useful lives of intangible assets and property and equipment, income taxes, fair value of assets acquired and liabilities assumed in the business acquisitions, determination of the fair value of stock-based compensation and valuation of derivatives liabilities and contingent liabilities, among others. The Company bases its estimates on assumptions, both historical and forward looking, that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities.
Contract Modifications	Contract Modifications The Company occasionally enters into amendments to previously executed contracts that constitute contract modifications. The Company assesses each of these contract modifications to determine: ● if the additional services and goods are distinct from the services and goods in the original arrangement; and ● if the amount of consideration expected for the added services or goods reflects the stand-alone selling price of those services and goods. A contract modification meeting both criteria is accounted for as a separate contract. A contract modification not meeting both criteria is considered a change to the original contract and is accounted for on either a prospective basis as a termination of the existing contract and the creation of a new contract, or a cumulative catch-up basis (see Note 3 and Note 11).
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40) In October 2020, the FASB issued ASU 2020-08, Codification Improvements to Subtopic 310-20 – Receivables – Nonrefundable Fees and Other Costs In October 2020, the FASB issued ASU 2020-10, Codification Improvements
Loss Per Common Share	Loss per Common Share Basic loss per share is computed using the weighted average number of common shares outstanding during the period and excludes any dilutive effects of common stock equivalent shares, such as stock options, restricted stock, and warrants. All restricted stock awards are considered outstanding but is included in the computation of basic loss per common share only when the underlying restrictions expire, the shares are no longer forfeitable, and are thus vested. All restricted stock units are included in the computation of basic loss per common share only when the underlying restrictions expire, the shares are no longer forfeitable, and are thus vested. Contingently issuable shares are included in basic loss per common share only when there are no circumstances under which those shares would not be issued. Diluted loss per common share is computed using the weighted average number of common shares outstanding and common stock equivalent shares outstanding during the period using the treasury stock method. Common stock equivalent shares are excluded from the computation if their effect is anti-dilutive. The Company excluded the outstanding securities summarized below (capitalized terms are described herein), which entitle the holders thereof to acquire shares of the Company’s common stock, from its calculation of net income loss per common share, as their effect would have been anti-dilutive. As of March 31, 2021 2020 Series G convertible preferred stock 188,791 188,791 Series H Preferred Stock 59,384,849 58,787,879 Series I Preferred Stock - 46,200,000 Series J Preferred Stock - 28,571,428 Indemnity shares of common stock - 412,500 Restricted Stock Awards 316,667 1,991,665 Financing Warrants 2,882,055 2,882,055 ABG Warrants 21,989,844 21,989,844 AllHipHop warrants 125,000 - Publisher Partner Warrants 789,541 939,540 Restricted Stock Units - 2,399,997 Common Stock Awards 7,078,723 8,063,811 Common Equity Awards 157,945,671 77,106,507 Outside Options 3,050,000 3,730,667 Total 253,751,141 253,264,684

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Schedule of Net Income (Loss) Per Common Share	The Company excluded the outstanding securities summarized below (capitalized terms are described herein), which entitle the holders thereof to acquire shares of the Company’s common stock, from its calculation of net income loss per common share, as their effect would have been anti-dilutive. As of March 31, 2021 2020 Series G convertible preferred stock 188,791 188,791 Series H Preferred Stock 59,384,849 58,787,879 Series I Preferred Stock - 46,200,000 Series J Preferred Stock - 28,571,428 Indemnity shares of common stock - 412,500 Restricted Stock Awards 316,667 1,991,665 Financing Warrants 2,882,055 2,882,055 ABG Warrants 21,989,844 21,989,844 AllHipHop warrants 125,000 - Publisher Partner Warrants 789,541 939,540 Restricted Stock Units - 2,399,997 Common Stock Awards 7,078,723 8,063,811 Common Equity Awards 157,945,671 77,106,507 Outside Options 3,050,000 3,730,667 Total 253,751,141 253,264,684

Acquisition (Tables)

Acquisition (Tables) - Petametrics Inc [Member]	3 Months Ended
	Mar. 31, 2021
Schedule of Purchase Price	The composition of the purchase price is as follows: Cash $ 315,289 Indemnity restricted stock units for shares of common stock 500,000 Total purchase consideration $ 815,289
Summary of Price Allocation for Acquisition	The purchase price allocation resulted in the following amounts being allocated to the assets acquired and liabilities assumed at the closing date of the acquisition based upon their respective fair values as summarized below: Accounts receivable $ 37,908 Developed technology 917,762 Accounts payable (53,494 ) Unearned revenue (86,887 ) Net assets acquired $ 815,289

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	Mar. 31, 2021
Balance Sheet Components Tables Abstract
Schedule of Property and Equipment	Property and equipment are summarized as follows: As of March 31, 2021 December 31, 2020 Office equipment and computers $ 1,439,071 $ 1,341,292 Furniture and fixtures 19,997 19,997 Leasehold improvements 345,516 345,516 1,804,584 1,706,805 Less accumulated depreciation and amortization (687,181 ) (577,367 ) Net property and equipment $ 1,117,403 $ 1,129,438
Summary of Platform Development Costs	Platform development costs are summarized as follows: As of March 31, 2021 December 31, 2020 Platform development $ 17,204,336 $ 16,027,428 Less accumulated amortization (9,740,665 ) (8,671,820 ) Net platform development $ 7,463,671 $ 7,355,608
Summary of Platform Development Cost Activity	A summary of platform development activity for the three months ended March 31, 2021 and year ended December 31, 2020 is as follows: As of March 31, 2021 December 31, 2020 Platform development beginning of period $ 16,027,428 $ 10,678,692 Payroll-based costs capitalized during the period 867,713 3,750,541 Total capitalized costs 16,895,141 14,429,233 Stock-based compensation 309,195 1,608,995 Dispositions - (10,800 ) Platform development end of period $ 17,204,336 $ 16,027,428
Schedule of Intangible Assets Subjects to Amortization	Intangible assets subject to amortization consisted of the following: As of March 31, 2021 As of December 31, 2020 Carrying Amount Accumulated Amortization Net Carrying Amount Carrying Amount Accumulated Net Carrying Amount Developed technology $ 19,070,857 $ (9,381,310 ) $ 9,689,547 $ 19,070,857 $ (8,283,740 ) $ 10,787,117 Noncompete agreement 480,000 (480,000 ) - 480,000 (480,000 ) - Trade name 3,328,000 (572,992 ) 2,755,008 3,328,000 (503,342 ) 2,824,658 Subscriber relationships 73,458,799 (21,734,342 ) 51,724,457 73,458,799 (18,105,041 ) 55,353,758 Advertiser relationships 2,240,000 (391,984 ) 1,848,016 2,240,000 (332,515 ) 1,907,485 Database 1,140,000 (626,183 ) 513,817 1,140,000 (531,183 ) 608,817 Subtotal amortizable intangible assets 99,717,656 (33,186,811 ) 66,530,845 99,717,656 (28,235,821 ) 71,481,835 Website domain name 20,000 - 20,000 20,000 - 20,000 Total intangible assets $ 99,737,656 $ (33,186,811 ) $ 66,550,845 $ 99,737,656 $ (28,235,821 ) $ 71,501,835

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Schedule of Supplemental Information Related to Operating Leases	The table below presents supplemental information related to operating leases: Three Months Ended March 31, 2021 Operating cash flows for operating leases $ 968,473 Noncash lease liabilities arising from obtaining operating leased assets during the period $ - Weighted-average remaining lease term 11.02 Weighted-average discount rate 13.58 %
Summary of Maturity of Lease Liabilities	Maturities of operating lease liabilities as of March 31, 2021 are summarized as follows: Years Ending December 31, 2021 (remaining nine months of the year) $ 2,836,380 2022 3,525,158 2023 3,528,696 2024 3,526,406 2025 3,740,591 Thereafter 23,822,981 Minimum lease payments 40,980,212 Less imputed interest (20,277,693 ) Present value of operating lease liabilities $ 20,702,519 Current portion of operating lease liabilities $ 1,022,294 Long-term portion of operating lease liabilities 19,680,225 Total operating lease liabilities $ 20,702,519

Restricted Stock Liabilities (T

Restricted Stock Liabilities (Tables)	3 Months Ended
	Mar. 31, 2021
Restricted Stock Liabilities
Schedule of Components of Restricted Stock Liabilities	The following table presents the components of the restricted stock liabilities as of March 31, 2021 and December 31, 2020: As of March 31, 2021 December 31, 2020 Restricted stock liabilities recorded upon modification of the restricted stock awards and units (1,064,549 restricted stock to be purchased at $4.00 per share) $ 4,258,196 $ 4,258,196 Less imputed interest (457,461 ) (457,462 ) Present value of restricted stock liabilities 3,800,735 3,800,734 Less payments (excluding imputed interest) (457,829 ) (177,425 ) Restricted stock liabilities $ 3,342,906 $ 3,623,309 Current portion of restricted stock liabilities $ 1,823,750 $ 1,627,499 Long-term portion of restricted stock liabilities 1,519,156 1,995,810 Total restricted stock liabilities $ 3,342,906 $ 3,623,309

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of Warrant Derivative Liabilities	The following table presents the assumptions used for the warrant derivative liabilities under the Black-Scholes option-pricing model: As of March 31, 2021 As of December 31, 2020 Strome Warrants B. Riley Warrants Strome Warrants B. Riley Warrants Expected life 2.21 4.55 2.45 4.79 Risk-free interest rate 0.16 % 0.92 % 0.13 % 0.36 % Volatility factor 150.37 % 151.48 % 150.55 % 140.95 % Dividend rate 0 % 0 % 0 % 0 % Transaction date closing market price $ 0.91 $ 0.91 $ 0.60 $ 0.60 Exercise price $ 0.50 $ 1.00 $ 0.50 $ 1.00
Schedule of Valuation Activity for Warrants Accounted for Derivative Liability	The following table represents the carrying amounts and change in valuation for the Company’s warrants accounted for as a derivative liability and classified within Level 3 of the fair-value hierarchy: As of and for the Three Months Ended March 31, 2021 As of and for the Three Months Ended March 31, 2020 Carry Amount at Beginning of Period Change in Valuation Carrying Amount at End of Period Carry Amount at Beginning of Period Change in Valuation Carrying Amount at End of Period Strome Warrants $ 704,707 $ 398,861 $ 1,103,568 $ 1,036,687 $ (110,081 ) $ 926,606 B. Riley Warrants 443,188 266,175 709,363 607,513 (29,138 ) 578,375 Total $ 1,147,895 $ 665,036 $ 1,812,931 $ 1,644,200 $ (139,219 ) $ 1,504,981

Long-term Debt (Tables)

Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of Long Term Debt	The following table summarizes the long-term debt: As of March 31, 2021 As of December 31, 2020 Principal Balance (including accrued interest) Unamortized Discount and Debt Issuance Costs Carrying Value Principal Balance (including accrued interest) Unamortized Discount and Debt Issuance Costs Carrying Value 12% Second Amended Senior Secured Note, as amended, due on December 31, 2022 $ 57,984,974 $ (3,356,743 ) $ 54,628,231 $ 56,296,091 $ (3,739,690 ) $ 52,556,401 Delayed Draw Term Note, as amended, due on March 31, 2022 4,457,153 (47,883 ) 4,409,270 4,294,318 (359,172 ) 3,935,146 Paycheck Protection Program Loan, scheduled to mature April 6, 2022, however, fully forgiven on June 22, 2021 5,716,697 - 5,716,697 5,702,725 - 5,702,725 Total $ 68,158,824 $ (3,404,626 ) $ 64,754,198 $ 66,293,134 $ (4,098,862 ) $ 62,194,272

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Schedule of Common Stock Financing Warrants Outstanding and Exercisable	The Financing Warrants outstanding and exercisable as of March 31, 2021 are summarized as follows: Outstanding Exercise Price Expiration Date Classified as Derivative Liabilities (Shares) Classified within Stockholders’ Equity (Shares) Total Exercisable (Shares) MDB Warrants $ 0.20 November 4, 2021 - 327,490 327,490 Strome Warrants 0.50 June 15, 2023 1,500,000 - 1,500,000 B. Riley Warrants 1.00 October 18, 2025 875,000 - 875,000 MDB Warrants 1.15 October 19, 2022 - 119,565 119,565 MDB Warrants 2.50 October 19, 2022 - 60,000 60,000 Total outstanding and exercisable 2,375,000 507,055 2,882,055

Compensation Plans (Tables)

Compensation Plans (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Summary of Stock-based Compensation	Stock-based compensation and equity-based expense charged to operations or capitalized during the three months ended March 31, 2021 and 2020 are summarized as follows: Restricted Common Common Publisher Stock Stock Equity Outside Partner ABG Awards Awards Awards Options Warrants Warrants Totals During the Three Months Ended March 31, 2021 Cost of revenue $ 24,460 $ 127,063 $ 1,290,374 $ 2,041 $ - $ - $ 1,443,938 Selling and marketing - 5,038 971,513 74,806 - - 1,051,357 General and administrative 3,445 117,327 2,126,615 - - 356,330 2,603,717 Total costs charged to operations 27,905 249,428 4,388,502 76,847 - 356,330 5,099,012 Capitalized platform development 4,823 2,720 300,034 1,618 - - 309,195 Total stock-based compensation $ 32,728 $ 252,148 $ 4,688,536 $ 78,465 $ - $ 356,330 $ 5,408,207 During the Three Months Ended March 31, 2020 Cost of revenue $ 37,576 $ 69,796 $ 1,009,592 $ 1,206 $ 8,039 $ - $ 1,126,209 Selling and marketing 299,215 35,728 678,279 55,378 - - 1,068,600 General and administrative 22,920 171,672 755,247 55,183 - 360,289 1,365,311 Total costs charged to operations 359,711 277,196 2,443,118 111,767 8,039 360,289 3,560,120 Capitalized platform development 70,283 41,157 256,001 2,611 - - 370,052 Total stock-based compensation $ 429,994 318,353 $ 2,699,119 $ 114,378 $ 8,039 $ 360,289 $ 3,930,172
Schedule of Unrecognized Compensation Expense	Unrecognized compensation expense and expected weighted-average period to be recognized related to the stock-based compensation awards and equity-based awards as of March 31, 2021 was as follows: Restricted Common Common Publisher Stock Stock Equity Outside Partner ABG Awards Awards Awards Options Warrants Warrants Totals Unrecognized compensation expense $ 48,891 $ 226,834 $ 67,977,275 $ 292,584 $ - $ 2,857,773 $ 71,403,357 Expected weighted-average period expected to be recognized (in years) 0.70 0.44 2.46 0.94 - 2.13 2.43

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table provides information about disaggregated revenue by product line, geographical market and timing of revenue recognition: As of March 31, 2021 2020 Revenue by product line: Advertising $ 11,074,425 $ 11,837,984 Digital subscriptions 7,084,481 5,537,247 Magazine circulation 14,710,023 12,537,532 Other 746,552 500,090 Total $ 33,615,481 $ 30,412,853 Revenue by geographical market: United States $ 32,528,417 $ 29,282,130 Other 1,087,064 1,130,723 Total $ 33,615,481 $ 30,412,853 Revenue by timing of recognition: At point in time $ 26,531,000 $ 24,875,606 Over time 7,084,481 5,537,247 Total $ 33,615,481 $ 30,412,853
Schedule of Contract with Customer, Asset and Liability	The following table provides information about contract balances: As of March 31, 2021 December 31, 2020 Unearned revenue (short-term contract liabilities): Digital subscriptions $ 16,815,476 $ 15,039,331 Magazine circulation 49,047,713 46,586,345 $ 65,863,189 $ 61,625,676 Unearned revenue (long-term contract liabilities): Digital subscriptions $ 802,124 $ 593,136 Magazine circulation 27,297,916 22,712,961 Other 200,000 192,500 $ 28,300,040 $ 23,498,597

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Liquidating Damages	The following table summarizes the contingent obligations with respect to the liquidated damages as of the date these condensed consolidated financial statements were issued or were available to be issued: Registration Rights Damages Public Information Failure Damages Accrued Interest Balance Series H Preferred Stock $ - $ 5,236 $ 93,575 $ 98,811 12% Convertible Debentures - - 36,320 36,320 Series I Preferred Stock - - 111,184 111,184 Series J Preferred Stock 240,000 240,000 108,059 588,059 Series K Preferred Stock - 661,680 11,221 672,901 Total $ 240,000 $ 906,916 $ 360,359 $ 1,507,275

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Net Income (Loss) Per Common Share (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Antidilutive securities excluded from computation of earnings per share amount	253,751,141	253,264,684
Series G Convertible Preferred Stock [Member]
Antidilutive securities excluded from computation of earnings per share amount	188,791	188,791
Series H Preferred Stock [Member]
Antidilutive securities excluded from computation of earnings per share amount	59,384,849	58,787,879
Series I Preferred Stock [Member]
Antidilutive securities excluded from computation of earnings per share amount		46,200,000
Series J Preferred Stock [Member]
Antidilutive securities excluded from computation of earnings per share amount		28,571,428
Indemnity Shares of Common Stock [Member]
Antidilutive securities excluded from computation of earnings per share amount		412,500
Restricted Stock Awards [Member]
Antidilutive securities excluded from computation of earnings per share amount	316,667	1,991,665
Financing Warrants [Member]
Antidilutive securities excluded from computation of earnings per share amount	2,882,055	2,882,055
ABG Warrants [Member]
Antidilutive securities excluded from computation of earnings per share amount	21,989,844	21,989,844
AllHipHop warrants [Member]
Antidilutive securities excluded from computation of earnings per share amount	125,000
Publisher Partner Warrants [Member]
Antidilutive securities excluded from computation of earnings per share amount	789,541	939,540
Restricted Stock Units (RSUs) [Member]
Antidilutive securities excluded from computation of earnings per share amount		2,399,997
Common Stock Awards [Member]
Antidilutive securities excluded from computation of earnings per share amount	7,078,723	8,063,811
Common Equity Awards [Member]
Antidilutive securities excluded from computation of earnings per share amount	157,945,671	77,106,507
Outside Options [Member]
Antidilutive securities excluded from computation of earnings per share amount	3,050,000	3,730,667

Acquisition (Details Narrative)

Acquisition (Details Narrative) - USD ($)	Mar. 09, 2020	Feb. 19, 2020	Mar. 31, 2021
Developed Technology [Member]
Developed technology useful life			3 years
Petametrics Inc. [Member]
Cash payment		$ 184,087
Petametrics Inc. [Member] | Closing [Member]
Cash payment	$ 131,202
Petametrics Inc. [Member] | First Anniversary Date [Member]
Number of restricted common stock issued	312,500
Petametrics Inc. [Member] | Second Anniversary Date [Member]
Number of restricted common stock issued	312,500		256,661
Common stock to be issued			55,839

Acquisition - Schedule of Preli

Acquisition - Schedule of Preliminary Purchase Price (Details) - USD ($)	Mar. 09, 2020	Mar. 31, 2021	Mar. 31, 2020
Cash			$ 315,289
Petametrics Inc. [Member]
Cash	$ 315,289
Indemnity restricted stock units for shares of common stock	500,000
Total purchase consideration	$ 815,289

Acquisition - Summary of Price

Acquisition - Summary of Price Allocation for Acquisition (Details) - Petametrics Inc. [Member]	Mar. 31, 2021USD ($)
Accounts receivable	$ 37,908
Developed technology	917,762
Accounts payable	(53,494)
Unearned revenues	(86,887)
Net assets acquired	$ 815,289

Balance Sheet Components (Detai

Balance Sheet Components (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Allowance for doubtful accounts	$ 718,912		$ 892,352
Subscription acquisition costs	31,171,595		28,146,895
Subscription acquisition costs, net of current portion	18,682,545		$ 13,358,585
Amortization expense	109,814	$ 638,796
Amortization expense of intangible asset	4,950,990	5,032,724
Impairment charges
Platform Development [Member]
Amortization expense	$ 1,068,845	$ 920,824

Balance Sheet Components - Sche

Balance Sheet Components - Schedule of Property and Equipment (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Gross property and equipment costs	$ 1,804,584	$ 1,706,805
Less accumulated depreciation and amortization	(687,181)	(577,367)
Net property and equipment	1,117,403	1,129,438
Office Equipment and Computers [Member]
Gross property and equipment costs	1,439,071	1,341,292
Furniture and Fixtures [Member]
Gross property and equipment costs	19,997	19,997
Leasehold Improvements [Member]
Gross property and equipment costs	$ 345,516	$ 345,516

Balance Sheet Components - Summ

Balance Sheet Components - Summary of Platform Development Costs (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Platform development	$ 1,804,584	$ 1,706,805
Less accumulated amortization	(687,181)	(577,367)
Net platform development	1,117,403	1,129,438
Platform Development [Member]
Platform development	17,204,336	16,027,428	$ 10,678,692
Less accumulated amortization	(9,740,665)	(8,671,820)
Net platform development	$ 7,463,671	$ 7,355,608

Balance Sheet Components - Su_2

Balance Sheet Components - Summary of Platform Development Cost Activity (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Platform development beginning of period	$ 1,706,805
Stock-based compensation	5,099,012	$ 3,560,120
Platform development end of period	1,804,584		$ 1,706,805
Platform Development [Member]
Platform development beginning of period	16,027,428	$ 10,678,692	10,678,692
Payroll-based costs capitalized during the period	867,713		3,750,541
Total capitalized costs	16,895,141		14,429,233
Stock-based compensation	309,195		1,608,995
Dispositions			(10,800)
Platform development end of period	$ 17,204,336		$ 16,027,428

Balance Sheet Components - Sc_2

Balance Sheet Components - Schedule of Intangible Assets Subjects to Amortization (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Intangible assets, gross	$ 99,737,656	$ 99,737,656
Intangible assets, accumulated amortization	(33,186,811)	(28,235,821)
Intangible assets, net	66,550,845	71,501,835
Developed Technology [Member]
Intangible assets, gross	19,070,857	19,070,857
Intangible assets, accumulated amortization	(9,381,310)	(8,283,740)
Intangible assets, net	9,689,547	10,787,117
Noncompete Agreement [Member]
Intangible assets, gross	480,000	480,000
Intangible assets, accumulated amortization	(480,000)	(480,000)
Intangible assets, net
Trade Name [Member]
Intangible assets, gross	3,328,000	3,328,000
Intangible assets, accumulated amortization	(572,992)	(503,342)
Intangible assets, net	2,755,008	2,824,658
Subscriber Relationships [Member]
Intangible assets, gross	73,458,799	73,458,799
Intangible assets, accumulated amortization	(21,734,342)	(18,105,041)
Intangible assets, net	51,724,457	55,353,758
Advertiser Relationships [Member]
Intangible assets, gross	2,240,000	2,240,000
Intangible assets, accumulated amortization	(391,984)	(332,515)
Intangible assets, net	1,848,016	1,907,485
Database [Member]
Intangible assets, gross	1,140,000	1,140,000
Intangible assets, accumulated amortization	(626,183)	(531,183)
Intangible assets, net	513,817	608,817
Subtotal Amortizable Intangible Assets [Member]
Intangible assets, gross	99,717,656	99,717,656
Intangible assets, accumulated amortization	(33,186,811)	(28,235,821)
Intangible assets, net	66,530,845	71,481,835
Website Domain Name [Member]
Intangible assets, gross	20,000	20,000
Intangible assets, accumulated amortization
Intangible assets, net	$ 20,000	$ 20,000

Leases (Details Narrative)

Leases (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating lease, cost	$ 908,465	$ 1,037,904
Minimum [Member]
Lease term	1 year 6 months
Maximum [Member]
Lease term	12 years 9 months 18 days

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Information Related to Operating Leases (Details)	3 Months Ended
	Mar. 31, 2021USD ($)
Lessee Disclosure [Abstract]
Operating cash flows for operating leases	$ 968,473
Noncash lease liabilities arising from obtaining operating leased assets
Weighted-average remaining lease term	11 years 7 days
Weighted-average discount rate	13.58%

Leases - Summary of Maturity of

Leases - Summary of Maturity of Lease Liabilities (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Lessee Disclosure [Abstract]
2021 (remaining nine months of the year)	$ 2,836,380
2022	3,525,158
2023	3,528,696
2024	3,526,406
2025	3,740,591
Thereafter	23,822,981
Minimum lease payments	40,980,212
Less imputed interest	(20,277,693)
Present value of operating lease liabilities	20,702,519
Current portion of operating lease liabilities	1,022,294	$ 1,059,671
Long-term portion of operating lease liabilities	19,680,225	$ 19,886,083
Total operating lease liabilities	$ 20,702,519

Line of Credit (Details Narrati

Line of Credit (Details Narrative) - USD ($)	Feb. 27, 2020	Mar. 31, 2021	Dec. 31, 2020
Line of credit, outstanding amount		$ 6,500,000
Financing and Security Agreement [Member]
Line of credit maturity date	Feb. 6, 2022
Line of credit, outstanding amount		$ 5,426,790	$ 7,178,791
Financing and Security Agreement [Member] | LIBOR Rate Plus [Member]
Line of credit interest rate	8.50%
Financing and Security Agreement [Member] | FastPay Credit Facility [Member]
Line of credit	$ 15,000,000

Restricted Stock Liabilities (D

Restricted Stock Liabilities (Details Narrative) - $ / shares	Dec. 15, 2020	Mar. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Number of shares vested	1,064,549	1,064,549
Purchase price per share	$ 4	$ 4

Restricted Stock Liabilities -

Restricted Stock Liabilities - Schedule of Components of Restricted Stock Liabilities (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Restricted stock liabilities recorded upon modification of the restricted stock awards and units (1,064,549 restricted stock to be purchased at $4.00 per share)	$ 4,258,196		$ 4,258,196
Less imputed interest	(457,462)		(457,461)
Present value of restricted stock liabilities	(3,800,734)		(3,800,734)
Less payments (excluding imputed interest)	(280,403)		(177,425)
Restricted stock liabilities	3,342,906		3,623,309
Current portion of restricted stock liabilities	1,823,750		1,627,499
Long-term portion of restricted stock liabilities	1,519,156		1,995,810
Total restricted stock liabilities	$ 3,342,906		$ 3,623,309

Restricted Stock Liabilities _2

Restricted Stock Liabilities - Schedule of Components of Restricted Stock Liabilities (Details) (Parenthetical) - $ / shares	Dec. 15, 2020	Mar. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Number of shares vested	1,064,549	1,064,549
Purchase price per share	$ 4	$ 4

Fair Value Measurements (Detail

Fair Value Measurements (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Change in valuation of warrant derivative liabilities	$ (665,036)	$ 139,219
Change in valuation of embedded derivative liabilities		$ 1,621,000

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of warrant derivative liabilities (Details)	Mar. 31, 2021	Dec. 31, 2020
Expected Life [Member] | Strome Warrants [Member]
Warrants term	2 years 2 months 16 days	2 years 5 months 12 days
Expected Life [Member] | B. Riley Warrants [Member]
Warrants term	4 years 6 months 18 days	4 years 9 months 14 days
Measurement Input, Risk Free Interest Rate [Member] | Strome Warrants [Member]
Warrants measurement input	0.0016	0.0013
Measurement Input, Risk Free Interest Rate [Member] | B. Riley Warrants [Member]
Warrants measurement input	0.0092	0.0036
Volatility Factor [Member] | Strome Warrants [Member]
Warrants measurement input	1.5037	1.5055
Volatility Factor [Member] | B. Riley Warrants [Member]
Warrants measurement input	1.5148	1.4095
Dividend Rate [Member] | Strome Warrants [Member]
Warrants measurement input	0	0
Dividend Rate [Member] | B. Riley Warrants [Member]
Warrants measurement input	0	0
Transaction Date Closing Market [Member] | Strome Warrants [Member]
Warrants measurement input	0.0091	0.0060
Transaction Date Closing Market [Member] | B. Riley Warrants [Member]
Warrants measurement input	0.0091	0.0060
Exercise Price [Member] | Strome Warrants [Member]
Warrants measurement input	0.50	0.50
Exercise Price [Member] | B. Riley Warrants [Member]
Warrants measurement input	1	1

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Valuation Activity for Warrants Accounted for Derivative Liability (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Strome Warrants [Member]
Carrying value beginning period	$ 704,707	$ 1,036,687
Change in valuation of warrant derivative liabilities	398,861	(110,081)
Carrying value at end of the period	1,103,568	926,606
B. Riley Warrants [Member]
Carrying value beginning period	443,188	607,513
Change in valuation of warrant derivative liabilities	266,175	(29,138)
Carrying value at end of the period	709,363	578,375
Warrants [Member]
Carrying value beginning period	1,147,895	1,644,200
Change in valuation of warrant derivative liabilities	665,036	(139,219)
Carrying value at end of the period	$ 1,812,931	$ 1,504,981

Long-term Debt (Details Narrati

Long-term Debt (Details Narrative) - USD ($)	Apr. 06, 2020	Mar. 24, 2020	Feb. 27, 2020	Aug. 27, 2019	Jun. 14, 2019	Jun. 10, 2019	Mar. 31, 2021
Delayed Draw Term Note [Member]
Debt maturity date							Mar. 31, 2022
12% Senior Secured Note [Member]
Proceeds from issuance of debt						$ 20,000,000
12% Senior Secured Note [Member] | Amended and Restated Note Purchase Agreement [Member]
Debt maturity date						Oct. 14, 2022
Proceeds from issuance of debt					$ 48,000,000	$ 68,000,000
12% Amended Senior Secured Note [Member]
Debt maturity date							Dec. 31, 2022
Proceeds from issuance of debt			$ 3,000,000	$ 3,000,000
12% Amended Senior Secured Note [Member] | Delayed Draw Term Note [Member]
Debt maturity date		Mar. 31, 2021
Proceeds from issuance of debt		$ 6,913,865
Principal amount of debt		$ 12,000,000
Debt instrument interest rate		15.00%
Legal fees		$ 793,109
Net proceeds from issuance of debt		6,000,000
12% Amended Senior Secured Note [Member] | Delayed Draw Term Note [Member] | Maximum [Member]
Principal amount of debt		$ 8,000,000
Payroll Protection Program Loan [Member]
Debt maturity date	Apr. 6, 2022						Apr. 6, 2022
Debt instrument interest rate	0.98%
Proceeds from loan	$ 5,702,725

Long-term Debt - Schedule of Lo

Long-term Debt - Schedule of Long Term Debt (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Principal Balance (including accrued interest)	$ 68,158,824	$ 66,293,134
Unamortized discount and debt issuance cost	(3,404,626)	(4,098,862)
Carrying value	64,754,198	62,194,272
Delayed Draw Term Note [Member]
Principal Balance (including accrued interest)	4,457,153	4,294,318
Unamortized discount and debt issuance cost	(47,883)	(359,172)
Carrying value	4,409,270	3,935,146
12% Amended Senior Secured Note [Member]
Principal Balance (including accrued interest)	57,984,974	56,296,091
Unamortized discount and debt issuance cost	(3,356,743)	(3,739,690)
Carrying value	54,628,231	52,556,401
Payroll Protection Program Loan [Member]
Principal Balance (including accrued interest)	5,716,697	5,702,725
Unamortized discount and debt issuance cost
Carrying value	$ 5,716,697	$ 5,702,725

Long-term Debt - Schedule of _2

Long-term Debt - Schedule of Long Term Debt (Details) (Parenthetical)	Apr. 06, 2020	Mar. 24, 2020	Mar. 31, 2021
Delayed Draw Term Note [Member]
Debt maturity date			Mar. 31, 2022
12% Amended Senior Secured Note [Member]
Debt maturity date			Dec. 31, 2022
12% Amended Senior Secured Note [Member] | Delayed Draw Term Note [Member]
Debt maturity date		Mar. 31, 2021
Payroll Protection Program Loan [Member]
Debt maturity date	Apr. 6, 2022		Apr. 6, 2022

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Common stock authorized	1,000,000,000	1,000,000,000
Common stock par value	$ 0.01	$ 0.01
Shares issued price per share	$ 0.91
Money Stock Warrants [Member]
Fair value of warrants	$ 847,518

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Common Stock Financing Warrants Outstanding and Exercisable (Details)	Mar. 31, 2021$ / sharesshares
Financing Warrants Classified as Derivative Liabilities (Shares)	2,375,000
Financing Warrants Classified within Stockholders' Equity (Shares)	507,055
Total Exercisable Financing Warrants (Shares)	2,882,055
MDB Warrants [Member]
Financing Warrants Exercise Price | $ / shares	$ 0.20
Financing Warrants Expiration Date	Nov. 4, 2021
Financing Warrants Classified as Derivative Liabilities (Shares)
Financing Warrants Classified within Stockholders' Equity (Shares)	327,490
Total Exercisable Financing Warrants (Shares)	327,490
Strome Warrants [Member]
Financing Warrants Exercise Price | $ / shares	$ 0.50
Financing Warrants Expiration Date	Jun. 15, 2023
Financing Warrants Classified as Derivative Liabilities (Shares)	1,500,000
Financing Warrants Classified within Stockholders' Equity (Shares)
Total Exercisable Financing Warrants (Shares)	1,500,000
B. Riley Warrants [Member]
Financing Warrants Exercise Price | $ / shares	$ 1
Financing Warrants Expiration Date	Oct. 18, 2025
Financing Warrants Classified as Derivative Liabilities (Shares)	875,000
Financing Warrants Classified within Stockholders' Equity (Shares)
Total Exercisable Financing Warrants (Shares)	875,000
MDB Warrants One [Member]
Financing Warrants Exercise Price | $ / shares	$ 1.15
Financing Warrants Expiration Date	Oct. 19, 2022
Financing Warrants Classified as Derivative Liabilities (Shares)
Financing Warrants Classified within Stockholders' Equity (Shares)	119,565
Total Exercisable Financing Warrants (Shares)	119,565
MDB Warrants Two [Member]
Financing Warrants Exercise Price | $ / shares	$ 2.50
Financing Warrants Expiration Date	Oct. 19, 2022
Financing Warrants Classified as Derivative Liabilities (Shares)
Financing Warrants Classified within Stockholders' Equity (Shares)	60,000
Total Exercisable Financing Warrants (Shares)	60,000

Compensation Plans - Summary of

Compensation Plans - Summary of Stock-based Compensation (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cost of revenue	$ 28,208,372	$ 26,738,833
Selling and marketing	17,528,709	9,359,938
General and administrative	5,638,830	10,410,205
Total stock-based compensation	5,099,012	3,560,120
Stock-based Compensation [Member]
Cost of revenue	1,443,938	1,126,209
Selling and marketing	1,051,357	1,068,600
General and administrative	2,603,717	1,365,311
Total costs charged to operations	5,099,012	3,560,120
Capitalized platform development	309,195	370,052
Total stock-based compensation	5,408,207	3,930,172
Stock-based Compensation [Member] | Publisher Partner Warrant [Member]
Cost of revenue		8,039
Selling and marketing
General and administrative
Total costs charged to operations		8,039
Capitalized platform development
Total stock-based compensation		8,039
Stock-based Compensation [Member] | ABG Warrants [Member]
Cost of revenue
Selling and marketing
General and administrative	356,330	360,289
Total costs charged to operations	356,330	360,289
Capitalized platform development
Total stock-based compensation	356,330	360,289
Restricted Stock Awards [Member] | Stock-based Compensation [Member]
Cost of revenue	24,460	37,576
Selling and marketing		299,215
General and administrative	3,445	22,920
Total costs charged to operations	27,905	359,711
Capitalized platform development	4,823	70,283
Total stock-based compensation	32,728	429,994
Common Stock Awards [Member] | Stock-based Compensation [Member]
Cost of revenue	127,063	69,796
Selling and marketing	5,038	35,728
General and administrative	117,327	171,672
Total costs charged to operations	249,428	277,196
Capitalized platform development	2,720	41,157
Total stock-based compensation	252,148	318,353
Common Equity Awards [Member] | Stock-based Compensation [Member]
Cost of revenue	1,290,374	1,009,592
Selling and marketing	971,513	678,279
General and administrative	2,126,615	755,247
Total costs charged to operations	4,388,502	2,443,118
Capitalized platform development	300,034	256,001
Total stock-based compensation	4,688,536	2,699,119
Outside Options [Member] | Stock-based Compensation [Member]
Cost of revenue	2,041	1,206
Selling and marketing	74,806	55,378
General and administrative		55,183
Total costs charged to operations	76,847	111,767
Capitalized platform development	1,618	2,611
Total stock-based compensation	$ 78,465	$ 114,378

Compensation Plans - Schedule o

Compensation Plans - Schedule of Unrecognized Compensation Expense (Details) - Stock-based Compensation [Member]	3 Months Ended
	Mar. 31, 2021USD ($)
Unrecognized compensation expense	$ 71,403,357
Weighted average period expected to be recognized (in years)	2 years 5 months 5 days
Publisher Partner Warrant [Member]
Unrecognized compensation expense
Weighted average period expected to be recognized (in years)	0 years
ABG Warrants [Member]
Unrecognized compensation expense	$ 2,857,773
Weighted average period expected to be recognized (in years)	2 years 1 month 16 days
Restricted Stock Awards [Member]
Unrecognized compensation expense	$ 48,891
Weighted average period expected to be recognized (in years)	8 months 12 days
Common Stock Awards [Member]
Unrecognized compensation expense	$ 226,834
Weighted average period expected to be recognized (in years)	5 months 9 days
Common Equity Awards [Member]
Unrecognized compensation expense	$ 67,977,275
Weighted average period expected to be recognized (in years)	2 years 5 months 16 days
Outside Options [Member]
Unrecognized compensation expense	$ 292,584
Weighted average period expected to be recognized (in years)	11 months 8 days

Revenue Recognition (Details Na

Revenue Recognition (Details Narrative)	Mar. 31, 2021USD ($)
Revenue from Contract with Customer [Abstract]
Unearned revenue	$ 22,071,978

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Disaggregation of Revenue (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Total revenue	$ 33,615,481	$ 30,412,853
At Point In Time [Member]
Total revenue	26,531,000	24,875,606
Over Time [Member]
Total revenue	7,084,481	5,537,247
United States [Member]
Total revenue	32,528,417	29,282,130
Other [Member]
Total revenue	1,087,064	1,130,723
Advertising [Member]
Total revenue	11,074,425	11,837,984
Digital Subscriptions [Member]
Total revenue	7,084,481	5,537,247
Magazine Circulation [Member]
Total revenue	14,710,023	12,537,532
Other [Member]
Total revenue	$ 746,552	$ 500,090

Revenue Recognition - Schedul_2

Revenue Recognition - Schedule of Contract with Customer, Asset and Liability (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Unearned revenue	$ 65,863,189	$ 61,625,676
Unearned revenue, net of current portion	28,300,040	23,498,597
Digital Subscriptions [Member]
Unearned revenue	16,815,476	15,039,331
Unearned revenue, net of current portion	802,124	593,136
Magazine Circulation [Member]
Unearned revenue	49,047,713	46,586,345
Unearned revenue, net of current portion	27,297,916	22,712,961
Other [Member]
Unearned revenue, net of current portion	$ 200,000	$ 192,500

Commitments and Contingencies_2

Commitments and Contingencies (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue guarantee description	These arrangements generally guarantee the publisher a monthly amount of income for a period of 12 to 24 months from inception of the publisher contract that is the greater of (a) a fixed monthly minimum, or (b) the calculated earned revenue share.
Revenue	$ 33,615,481	$ 30,412,853
Publisher Partner Guarantees [Member]
Revenue	$ 1,763,357	$ 2,374,087

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Liquidating Damages (Details) - Contingent Obligations [Member]	Mar. 31, 2021USD ($)
Registration Rights Damages	$ 240,000
Public Information Failure Damages	906,916
Accrued interest	360,359
Totals	1,507,275
Series H Preferred Stock [Member]
Registration Rights Damages
Public Information Failure Damages	5,236
Accrued interest	93,575
Totals	98,811
12% Convertible Debentures [Member]
Registration Rights Damages
Public Information Failure Damages
Accrued interest	36,320
Totals	36,320
Series I Convertible Preferred Stock [Member]
Registration Rights Damages
Public Information Failure Damages
Accrued interest	111,184
Totals	111,184
Series J Preferred Stock [Member]
Registration Rights Damages	240,000
Public Information Failure Damages	240,000
Accrued interest	108,059
Totals	588,059
Series K Preferred Stock [Member]
Registration Rights Damages
Public Information Failure Damages	661,680
Accrued interest	11,221
Totals	$ 672,901

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)

Jun. 22, 2021

Jun. 04, 2021

Jun. 03, 2021

Jun. 02, 2021

May 25, 2021

May 20, 2021

May 19, 2021

May 04, 2021

Apr. 30, 2021

Mar. 31, 2021

Mar. 31, 2020

Mar. 24, 2020

Share issued price per share

$ 0.91

Cash payment

$ 315,289

12% Amended Senior Secured Note [Member] | Delayed Draw Term Note [Member]

Principal amount of debt

$ 12,000,000

Debt interest rate

15.00%

Subsequent Event [Member] | College Spun Media Incorporated [Member]

Aggregate cash

$ 11,000,000

Restricted shares of common stock

4,285,714

Cash payment

$ 10,800,000

Additional cash payment

800,000

Subsequent Event [Member] | Several Accredited Investors [Member] | Private Placement [Member]

Sale of stock, shares

7,142,857

21,445,718

21,435,718

Sale of stock price per share

$ 0.70

$ 0.70

$ 0.70

Proceeds from sale of stock

$ 5,000,000

$ 15,000,000

$ 15,000,000

Subsequent Event [Member] | Mr. Heckman [Member] | 2016 Plan [Member]

Number of vesting options

2,000,000

Subsequent Event [Member] | Series L Preferred Stock [Member]

Share issued price per share

$ 0.01

Preferred stock voting rights

1,000 times the aggregate per share amount of all cash dividends, and 1,000 times the aggregate per share amount (payable in kind) of all non-cash dividends or other distributions paid to the holders of the Company's common stock. The Series L Preferred Stock will be entitled to 1,000 votes on all matters submitted to a vote of the stockholders of the Company. In the event of any merger, consolidation or other transaction in which shares of the Company's common stock are converted or exchanged, the Series L Preferred Stock will be entitled to receive 1,000 times the amount received per one share of the Company's common stock.

Subsequent Event [Member] | Series L Preferred Stock [Member] | Purchase Agreements [Member]

Share issued price per share

$ 4

Subsequent Event [Member] | Delayed Draw Term Note [Member]

Principal amount of debt

$ 4,300,000

Subsequent Event [Member] | 12% Amended Senior Secured Note [Member]

Licensing agreement description

The Company entered into an amendment to the 12% Second Amended Senior Secured Notes ("Amendment 1"), pursuant to which the maturity date of the 12% Second Amended Senior Secured Notes was changed to December 31, 2022, subject to certain acceleration conditions. Pursuant to Amendment 1, interest payable on the 12% Second Amended Senior Secured Notes on September 30, 2020, December 31, 2020, March 31, 2021, June 30, 2021, September 30, 2021, and December 31, 2021 will be payable in-kind in arrears on the last day of such fiscal quarter. Alternatively, at the option of the holder, such interest amounts originally could have been paid in shares of Series K Preferred Stock; however, after December 18, 2020, the date the Series K Preferred Stock converted into shares of the Company's common stock, all such interest amounts can be paid in shares of the Company's common stock based upon the conversion rate specified for the Series K Preferred Stock (or $0.40).

Number of shares issued during period, shares

60,100,000

Principal amount of debt

$ 48,800,000

Payment of in-kind interest

108,000,000

Accrued interest

$ 500,000

Subsequent Event [Member] | 12% Amended Senior Secured Note [Member] | Delayed Draw Term Note [Member]

Licensing agreement description

The interest rate on the Delayed Draw Term Note decreased from a rate of 15% per annum to a rate of 10% per annum.

Repayments of debt

$ 1,100,000

Subsequent Event [Member] | 12% Amended Senior Secured Notes [Member]

Debt interest rate

10.00%

Subsequent Event [Member] | PPP Loan [Member]

Debt forgiveness

$ 5,702,725

Subsequent Event [Member] | Common Stock Options and Restricted Stock Units [Member]

Number of Shares Common stock options, Granted

6,153,053

Subsequent Event [Member] | First Anniversary [Member] | College Spun Media Incorporated [Member]

Cash payment

500,000

Subsequent Event [Member] | Second Anniversary [Member] | College Spun Media Incorporated [Member]

Cash payment

$ 500,000