The Arena Group Holdings, Inc. (AREN) 10-Q 17 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	May 14, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	1-12471
Entity Registrant Name	THE ARENA GROUP HOLDINGS, INC.
Entity Central Index Key	0000894871
Entity Tax Identification Number	68-0232575
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	200 Vesey Street
Entity Address, Address Line Two	24th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10281
City Area Code	(212)
Local Phone Number	321-5002
Title of 12(b) Security	Common Stock, par value $0.01
Trading Symbol	AREN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		29,599,934

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 4,003	$ 9,284
Accounts receivable, net	26,452	31,676
Prepayments and other current assets	7,022	5,791
Current assets from discontinued operations	5,691	43,648
Total current assets	43,168	90,399
Property and equipment, net	261	328
Operating lease right-of-use assets	120	176
Platform development, net	8,095	8,723
Acquired and other intangible assets, net	25,339	27,457
Other long-term assets	733	1,003
Goodwill	42,575	42,575
Noncurrent assets from discontinued operations		18,217
Total assets	120,291	188,878
Current liabilities:
Accounts payable	8,797	7,803
Accrued expenses and other	26,788	28,903
Line of credit		19,609
Unearned revenue	12,370	16,938
Subscription refund liability	44	46
Operating lease liability	242	358
Contingent consideration		1,571
Liquidated damages payable	3,000	2,924
Simplify loan	7,748
Bridge notes	7,972	7,887
Debt	102,342	102,309
Current liabilities from discounted operations	98,874	47,673
Total current liabilities	268,177	236,021
Unearned revenue, net of current portion	624	542
Other long-term liabilities	244	406
Deferred tax liabilities	630	599
Noncurrent liabilities from discontinued operations		10,137
Total liabilities	269,675	247,705
Commitments and contingencies (Note 19)
Mezzanine equity:
Total mezzanine equity	168	168
Stockholders’ deficiency:
Common stock, $0.01 par value, authorized 1,000,000,000 shares; issued and outstanding: 29,513,563 and 23,836,706 shares at March 31, 2024 and December 31, 2023, respectively	294	237
Common stock to be issued
Additional paid-in capital	332,165	319,421
Accumulated deficit	(482,011)	(378,653)
Total stockholders’ deficiency	(149,552)	(58,995)
Total liabilities, mezzanine equity and stockholders’ deficiency	120,291	188,878
Series G Redeemable And Convertible Preferred Stock [Member]
Mezzanine equity:
Total mezzanine equity	$ 168	$ 168

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	29,513,563	23,836,706
Common stock, shares outstanding	29,513,563	23,836,706
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 designated	1,800	1,800
Temporary equity, liquidation preference value	$ 168	$ 168
Temporary equity, shares issued	168	168
Temporary equity, shares outstanding	168	168
Temporary equity, common shares issuable upon conversion	8,582	8,582

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenue	$ 28,941	$ 28,418
Cost of revenue (includes amortization of platform development and developed technology for 2024 and 2023 of $1,549 and $2,369, respectively)	20,008	18,090
Gross profit	8,933	10,328
Operating expenses
Selling and marketing	4,564	5,847
General and administrative	10,135	12,975
Depreciation and amortization	987	1,096
Loss on impairment of assets	1,198	119
Total operating expenses	16,884	20,037
Loss from operations	(7,951)	(9,709)
Change in fair value of contingent consideration	(313)	(499)
Interest expense	(4,339)	(4,182)
Liquidated damages	(76)	(127)
Total other expenses	(4,728)	(4,808)
Loss before income taxes	(12,679)	(14,517)
Income taxes	(41)	(7)
Loss from continuing operations	(12,720)	(14,524)
Loss from discontinued operations, net of tax	(90,638)	(4,853)
Net loss	$ (103,358)	$ (19,377)
Basic and diluted net loss per common share:
Continuing operations - Basic	$ (0.48)	$ (0.78)
Continuing operations - Diluted	(0.48)	(0.78)
Discontinued operations - Basic	(3.43)	(0.26)
Discontinued operations - Diluted	(3.43)	(0.26)
Basic net loss per common share	(3.91)	(1.04)
Diluted net loss per common share	$ (3.91)	$ (1.04)
Weighted average number of common shares outstanding - Basic	26,443,764	18,718,555
Weighted average number of common shares outstanding - Diluted	26,443,764	18,718,555

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Amortization cost of developed technology and platform development	$ 1,549	$ 2,369

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Deficiency (Unaudited) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Balance at January 1, 2023	$ (58,995)	$ (52,146)	$ (52,146)
Issuance of common stock in connection with private placement	12,000
Issuance of common stock for restricted stock units
Common stock withheld for taxes	(479)	(1,423)
Repurchase of common stock for Fexy put option	(379)
Stock-based compensation	1,659	6,734
Net loss	(103,358)	(19,377)
Balance at March 31, 2023	(149,552)	(52,699)	(58,995)
Issuance of common stock in connection with the acquisition of Fexy Studios		2,000
Issuance of common stock in connection with settlement of liquidated damages		324
Gain upon issuance of common stock in connection with settlement of liquidated damages		46
Issuance of common stock upon exercise of stock options
Issuance of common stock in connection with registered direct offering		11,211
Reclassification to liability upon modification of common stock option		(68)
Common Stock [Member]
Balance at January 1, 2023	$ 237	$ 182	$ 182
Balance, shares	23,836,706	18,303,193	18,303,193
Issuance of common stock in connection with private placement	$ 56
Issuance of common stock in connection with private placement, shares	5,555,555
Issuance of common stock for restricted stock units	$ 7	$ 4
Issuance of common stock for restricted stock units, shares	678,165	397,376
Common stock withheld for taxes	$ (3)	$ (2)
Common stock withheld for taxes, shares	(282,171)	(202,382)
Repurchase of common stock for Fexy put option	$ (3)
Repurchase of common stock for Fexy put option, shares	(274,692)
Stock-based compensation
Net loss
Balance at March 31, 2023	$ 294	$ 217	$ 237
Balance, shares	29,513,563	21,773,078	23,836,706
Issuance of common stock in connection with the acquisition of Fexy Studios		$ 3
Issuance of common stock in connection with the acquisition of Fexy Studios, shares		274,692
Issuance of common stock in connection with settlement of liquidated damages
Issuance of common stock in connection with settlement of liquidated damages, shares		35,486
Gain upon issuance of common stock in connection with settlement of liquidated damages
Issuance of common stock upon exercise of stock options
Issuance of common stock upon exercise of stock option, shares		795
Issuance of common stock in connection with registered direct offering		$ 30
Issuance of common stock in connection with registered direct offering, shares		2,963,918
Reclassification to liability upon modification of common stock option
Common Stock To Be Issued [Member]
Balance at January 1, 2023
Balance, shares	2,701	41,283	41,283
Issuance of common stock in connection with private placement
Issuance of common stock for restricted stock units
Common stock withheld for taxes
Repurchase of common stock for Fexy put option
Stock-based compensation
Net loss
Balance at March 31, 2023
Balance, shares	2,701	41,283	2,701
Issuance of common stock in connection with the acquisition of Fexy Studios
Issuance of common stock in connection with settlement of liquidated damages
Gain upon issuance of common stock in connection with settlement of liquidated damages
Issuance of common stock in connection with registered direct offering
Reclassification to liability upon modification of common stock option
Additional Paid-in Capital [Member]
Balance at January 1, 2023	$ 319,421	270,743	$ 270,743
Issuance of common stock in connection with private placement	11,944
Issuance of common stock for restricted stock units	(7)	(4)
Common stock withheld for taxes	(476)	(1,421)
Repurchase of common stock for Fexy put option	(376)
Stock-based compensation	1,659	6,734
Net loss
Balance at March 31, 2023	332,165	289,532	319,421
Issuance of common stock in connection with the acquisition of Fexy Studios		1,997
Issuance of common stock in connection with settlement of liquidated damages		324
Gain upon issuance of common stock in connection with settlement of liquidated damages		46
Issuance of common stock upon exercise of stock options
Issuance of common stock in connection with registered direct offering		11,181
Reclassification to liability upon modification of common stock option		(68)
Retained Earnings [Member]
Balance at January 1, 2023	(378,653)	(323,071)	(323,071)
Issuance of common stock in connection with private placement
Issuance of common stock for restricted stock units
Common stock withheld for taxes
Repurchase of common stock for Fexy put option
Stock-based compensation
Net loss	(103,358)	(19,377)
Balance at March 31, 2023	$ (482,011)	(342,448)	$ (378,653)
Issuance of common stock in connection with the acquisition of Fexy Studios
Issuance of common stock in connection with settlement of liquidated damages
Gain upon issuance of common stock in connection with settlement of liquidated damages
Issuance of common stock upon exercise of stock options
Issuance of common stock in connection with registered direct offering
Reclassification to liability upon modification of common stock option

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities
Net loss	$ (103,358)	$ (19,377)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of property and equipment	67	114
Amortization of platform development and intangible assets	4,870	7,021
Amortization of debt discounts	536	930
Noncash and accrued interest	2,839
Loss on impairment of assets	40,589	119
Change in fair value of contingent consideration	313	499
Liquidated damages	76	127
Stock-based compensation	1,451	6,427
Deferred income taxes	31	7
Bad debt expense	670	36
Change in operating assets and liabilities net of effect of business combination:
Accounts receivable, net	12,029	10,303
Subscription acquisition costs	6,131	(4,304)
Prepayments and other current assets	(424)	(7,596)
Other long-term assets	(148)	61
Accounts payable	(102)	2,595
Accrued expenses and other	44,334	(2,144)
Unearned revenue	(11,665)	3,464
Subscription refund liability	18	95
Operating lease liabilities	(60)	(56)
Other long-term liabilities	(162)	7
Net cash used in operating activities	(1,965)	(1,672)
Cash flows from investing activities
Capitalized platform development	(713)	(1,188)
Payments for acquisition of business, net of cash acquired		(500)
Net cash used in investing activities	(713)	(1,688)
Cash flows from financing activities
Payment of Fexy put option	(2,263)
Proceeds (repayments) under line of credit, net borrowing	(19,609)	(4,533)
Proceeds from common stock private placement	12,000
Proceeds from Simplify loan	7,748
Proceeds from common stock registered direct offering		11,500
Payments of issuance costs from common stock registered direct offering		(69)
Payment of deferred cash payments		(25)
Payment of taxes from common stock withheld	(479)	(1,423)
Net cash (used in) provided by financing activities	(2,603)	5,450
Net increase (decrease) in cash, cash equivalents, and restricted cash	(5,281)	2,090
Cash, cash equivalents, and restricted cash – beginning of period	9,284	14,373
Cash, cash equivalents, and restricted cash – end of period	4,003	16,463
Cash, cash equivalents, and restricted cash
Cash and cash equivalents	4,003	15,961
Restricted cash		502
Total cash, cash equivalents, and restricted cash	4,003	16,463
Supplemental disclosure of cash flow information
Cash paid for interest	964	3,252
Cash paid for income taxes	85
Noncash investing and financing activities
Reclassification of stock-based compensation to platform development	208	307
Issuance cost of registered direct offering recorded in accrued expenses and other		220
Repurchase of common stock for Fexy put option	379
Issuance of common stock in connection with settlement of liquidated damages		370
Issuance of common stock in connection with acquisition		2,000
Deferred cash payments recorded in connection with acquisitions		246
Reclassification to liability upon common stock modification		$ 68

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
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 The Arena Group Holdings, Inc. and its wholly owned subsidiaries (“The Arena Group” or the “Company”), after eliminating all significant intercompany balances and transactions. The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (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 (“GAAP”) for complete audited financial statements. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements, which are included in The Arena Group’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on April 1, 2024. The condensed consolidated financial statements as of March 31, 2024, and for the three months ended March 31, 2024 and 2023, 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, 2023, was derived from audited financial statements, but does not include all disclosures required by 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 business and operations are sensitive to general business and economic conditions in the United States and worldwide. These conditions include short-term and long-term interest rates, inflation, fluctuations in debt and equity capital markets and the general condition of the United States and world economy. A host of factors beyond the Company’s control could cause fluctuations in these conditions. Adverse developments in these general business and economic conditions could have a material adverse effect on the Company’s financial condition and the results of its operations. In addition, the Company will compete with many companies that currently have extensive and well-funded projects, marketing and sales operations as well as extensive human capital. The Company may be unable to compete successfully against these companies. The Company’s industry is characterized by rapid changes in technology and market demands. As a result, the Company’s products, services, or expertise may become obsolete or unmarketable. The Company’s future success will depend on its ability to adapt to technological advances, anticipate customer and market demands, and enhance its current technology under development. Uncertainty in the global economy presents significant risks to the Company’s business. Increases in inflation, rising interest rates, instability in the global banking system, geopolitical factors, including the ongoing conflicts in Ukraine and Israel and the responses thereto, and the remaining effects of the COVID-19 pandemic may have an adverse effect on the Company’s business. While the Company is closely monitoring the impact of the current macroeconomic conditions on all aspects of its business, the ultimate extent of the impact on its business remains highly uncertain and will depend on future developments and factors that continue to evolve. Most of these developments and factors are outside of the Company’s control and could exist for an extended period of time. As a result, the Company is subject to continuing risks and uncertainties. The Company operates in one Going Concern The Company’s condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. The Company’s condensed consolidated financial statements do not include any adjustments that might be necessary if it is unable to continue as a going concern. For the three months ended March 31, 2024, the Company incurred a net loss from continuing operations of $ 12,720 4,003 225,009 In its evaluation, management determined there is substantial doubt about the Company’s ability to continue as a going concern for a one-year period following the financial statement issuance date, unless it is able to refinance or modify its current debt and complete the Business Combination. The Company plans to refinance or modify the maturities of its current debt and complete the Business Combination to alleviate the conditions that raise substantial doubt about its ability to continue as a going concern, however, there can be no assurance that the Company will be able to refinance or modify its current debt and complete the Business Combination. Use of Estimates The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements and the reported results of operations during the reporting period. Significant estimates include: reserves for bad debt; capitalization of platform development and associated useful lives; goodwill and other acquired intangible assets and associated useful lives; assumptions used in accruals for potential liabilities; revenue recognition and estimates of standalone selling price of performance obligations for revenue contracts with multiple performance obligations; stock-based compensation and the determination of the fair value; valuation allowances for deferred tax assets and uncertain tax positions; accounting for business combinations; and assumptions used to calculate contingent liabilities. These estimates are based on information available as of the date of the condensed consolidated financial statements; therefore, actual results could differ from management’s estimates. Recently Adopted Accounting Standards In June 2022, the Financial Accounting Standards Board (the “FASB”) issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions 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 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. 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. 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 loss per common share, as their effect would have been anti-dilutive. Common stock equivalent shares are excluded from the diluted calculations when a net loss is incurred as they would be anti-dilutive. Schedule of Common Stock Equivalent Shares Excluded From Diluted Calculations 2024 2023 As of March 31, 2024 2023 Series G convertible preferred stock 8,582 8,582 Series H convertible preferred stock - 1,981,128 Financing warrants 39,774 107,956 ABG Warrants 999,540 999,540 AllHipHop warrants 5,682 5,682 Publisher Partner Warrants 9,800 11,002 Restricted stock awards - 97,403 Restricted stock units 329,533 888,152 Common stock options 4,485,881 6,183,262 Total 5,878,792 10,282,707

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	2. Discontinued Operations On March 18, 2024, the Company discontinued the Sports Illustrated media business (the “SI Business”) that was operated under the Licensing Agreement with ABG-SI, LLC (“ABG”) dated June 14, 2019 (as amended to date, the “Licensing Agreement”). This discontinuation of the SI Business (i.e., discontinued operations) followed the termination of the Licensing Agreement by ABG on January 18, 2024. The last date of any obligation of the Company to perform under the Licensing Agreement was March 18, 2024. In connection with the termination, certain ABG Warrants vested (further details are provided under the heading Modification of Warrants The table below sets forth the loss from discontinued operations: Schedule of Discontinued Operations 2024 2023 Three Months Ended March 31, 2024 2023 Revenue $ 21,848 $ 22,962 Cost of revenue 13,981 11,945 Gross profit 7,867 11,017 Operating expense Selling and marketing 11,503 12,122 General and administrative( 1 45,192 78 Depreciation and amortization 2,401 3,670 Loss on impairment of assets 39,391 - Total operating expenses 98,487 15,870 Loss from discontinued operations (90,620 ) (4,853 ) Income tax benefit (18 ) - Net loss from discontinued operations $ (90,638 ) $ (4,853 ) (1) Includes $ 45,000 The table below sets forth the major classes of assets and liabilities of the discontinued operations: March 31, 2024 December 31, 2023 As of March 31, 2024 December 31, 2023 Assets Accounts receivable, net $ 5,691 $ 13,135 Subscription acquisition costs, current portion - 29,706 Prepayments and other current assets - 807 Current assets from discontinued operations 5,691 43,648 Subscription acquisition costs, net of current portion - 7,215 Acquired and other intangibles assets, net - 11,002 Noncurrent assets from discontinued operations - 18,217 Total assets from discontinued operations $ 5,691 $ 61,865 Liabilities Accounts payable $ 1,458 $ 2,554 Accrued expenses and other 2,406 1,868 Subscription refund liability 423 403 Royalty fee liability 3,750 - Termination fee liability 45,000 - Subscription liability, current portion 45,837 42,848 Current liabilities from discontinued operations 98,874 47,673 Subscription liability, net of current portion - 10,137 Noncurrent liabilities from discontinued operations - 10,137 Total liabilities from discontinued operations $ 98,874 $ 57,810 The table below sets forth the cash flows of the discontinued operations: 2024 2023 Three Months Ended March 31, 2024 2023 Cash flows from operating activities from discontinued operations Net loss from discontinued operations $ (90,638 ) $ (4,853 ) Adjustments to reconcile net loss to net cash used in operating activities: Amortization of intangible assets 2,401 3,670 Loss on impairment of assets 39,391 - Stock-based compensation 538 190 Change in operating assets and liabilities: Accounts receivable, net 7,444 5,000 Subscription acquisition costs 6,131 (4,304 ) Prepayments and other current assets 807 190 Accounts payable 2,654 229 Accrued expenses and other 538 118 Subscription refund liability 20 (150 ) Subscription liability (7,148 ) 4,233 Termination fee liability 45,000 - Net cash used in operating activities from discontinued operations $ 7,138 $ 4,323

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	3. Acquisitions The Company uses the acquisition method of accounting, which is based on ASC, Business Combinations (Topic 805) Teneology, Inc. 3,307 500 250 75 25 200 274,692 2,000 2,225 7.94 300 The composition of the purchase price is as follows: Schedule of Composition Preliminary Assets Purchase Price Cash $ 500 Common stock 2,000 Contingent consideration 561 Deferred cash payments, as discounted 246 Total purchase consideration $ 3,307 The Company accounted for the asset acquisition as a business combination in accordance with ASC 805 since the acquisition met the definition of a business under the applicable guidance. The Company incurred $ 99 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: Summary of Preliminary Assets Purchase Price Allocation Advertiser relationships $ 663 Brand names 659 Goodwill 1,985 Net assets acquired $ 3,307 The Company utilized an independent appraisal firm to assist in the determination of the fair values of the assets acquired and liabilities assumed, which required certain significant management assumptions and estimates. The fair value of the advertiser relationships were valued using the excess earnings method of the income approach and the brand names were valued using the relief-from-royalty method of the income approach. The estimated useful life is fifteen years ( 15.0 12.0 The excess-of purchase price over the fair value amounts assigned to the assets acquired and liabilities assumed represents goodwill from the acquisition. Goodwill is recorded as a non-current asset that is not amortized but is subject to an annual review for impairment. The Company expects $ 1,678 Further details are provided under the heading Intangible Assets Supplemental Pro forma Information The pro forma disclosures have been deemed impracticable for this acquisition since after making reasonable efforts the Company is unable to accept assumptions made by Teneology. The Company has determined, based on the information provided by Teneology and made available to the Company, that the earnings from the prior periods could not be verified since the acquisition only included certain activities of Teneology and financial statements were not available. In this regard, the Company: (1) made reasonable effort to obtain certain financial results of the certain activities but Teneology was unable to comply with this request; and (2) the presentation of the pro forma results and the assumptions made by Teneology management were unable to be independently substantiated.

Balance Sheet Components

Balance Sheet Components	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Components	4. Balance Sheet Components The components of certain balance sheet amounts are as follows: Accounts Receivable and Allowance for Doubtful Accounts 26,452 31,676 The following table summarizes the allowance for doubtful accounts activity: Schedule of Allowance For Doubtful Accounts Three Months Ended March 31, 2024 (unaudited) Year Ended December 31, 2023 Allowance for doubtful accounts beginning of year $ 374 $ 2,236 Additions 670 315 Deductions – discontinued operations (127 ) (607 ) Deductions – write-offs (268 ) (1,570 ) Allowance for doubtful accounts end of period $ 649 $ 374 Prepayments and Other Current Assets Schedule of Prepayments and Other Current Assets March 31, 2024 (unaudited) December 31, 2023 As of March 31, 2024 (unaudited) December 31, 2023 Prepaid expenses $ 2,539 $ 2,139 Prepaid supplies 137 773 Refundable income and franchise taxes 157 157 Unamortized debt costs - 209 Employee retention credits 2,468 2,468 Excess collections under line of credit 1,715 - Other receivables 6 45 Total prepayments and other current assets $ 7,022 $ 5,791 Under the provisions of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) and the subsequent extensions of the CARES Act, the Company was eligible for a refundable employee retention credit subject to certain criteria. The Company determined that it qualifies for the tax credit under the CARES Act. In connection with the CARES Act, the Company adopted a policy to recognize the employee retention credit when earned and to offset the credit against the related expenditure. For the three months ended March 31, 2023, the Company recorded the employee retention credits as a reduction to payroll and related expenses of $ 6,868 2,468 Property and Equipment Schedule of Property and Equipment March 31, 2024 (unaudited) December 31, 2023 As of March 31, 2024 (unaudited) December 31, 2023 Office equipment and computers $ 1,777 $ 1,744 Furniture and fixtures 133 166 Gross property and equipment 1,910 1,910 Less accumulated depreciation and amortization (1,649 ) (1,582 ) Net property and equipment $ 261 $ 328 Depreciation and amortization expense for the three months ended March 31, 2024 and 2023 was $ 67 114 0 55 Platform Development Summary of Platform Development Costs March 31, 2024 (unaudited) December 31, 2023 As of March 31, 2024 (unaudited) December 31, 2023 Platform development $ 26,975 $ 26,054 Less accumulated amortization (18,880 ) (17,331 ) Net platform development $ 8,095 $ 8,723 A summary of platform development activity for the three months ended March 31, 2024 is as follows: Summary of Platform Development Cost Activity Platform development beginning of period $ 26,054 Payroll-based costs capitalized 713 Total capitalized costs 26,767 Stock-based compensation 208 Platform development end of period $ 26,975 Amortization expense for the three months ended March 31, 2024 and 2023 was $ 1,549 1,573 0 64 Intangible Assets Schedule of Intangible Assets Subject to Amortization As of March 31, 2024 (unaudited) As of December 31, 2023 Carrying Amount Accumulated Amortization Net Carrying Amount Carrying Amount Accumulated Amortization Net Carrying Amount Developed technology $ 17,333 $ (17,333 ) $ - $ 17,333 $ (17,333 ) $ - Trade name 5,181 (1,610 ) 3,571 5,181 (1,547 ) 3,634 Brand name 12,115 (2,671 ) 9,444 12,774 (2,374 ) 10,400 Subscriber relationships 2,150 (1,187 ) 963 2,150 (1,121 ) 1,029 Advertiser relationships 14,519 (3,158 ) 11,361 15,182 (2,832 ) 12,350 Database 1,140 (1,140 ) - 1,140 (1,140 ) - Digital content 355 (355 ) - 355 (311 ) 44 Total intangible assets $ 52,793 $ (27,454 ) $ 25,339 $ 54,115 $ (26,658 ) $ 27,457 Intangible assets subject to amortization were recorded as part of the Company’s business acquisitions. Amortization expense from continuing operations for the three months ended March 31, 2024 and 2023 was $ 920 1,778 0 796 1,198 0 Accrued Expenses and Other Schedule of Accrued Expenses March 31, 2024 December 31, 2023 As of March 31, 2024 December 31, 2023 General accrued expenses $ 3,850 $ 5,551 Accrued payroll and related taxes 5,427 4,515 Accrued publisher expenses 4,765 7,596 Accrued interest 5,635 3,824 Liabilities in connection with acquisitions and dispositions 740 1,119 Assumed lease liability 1,379 1,328 Lease termination liability 4,518 4,481 Other accrued expenses 474 489 Total accrued expenses and other $ 26,788 $ 28,903

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases
Leases	5. Leases The Company’s real estate lease for the use of office space is subleased (as further described below). The Company’s current operating lease has a remaining fixed payment term of 0.50 The table below presents supplemental information related to the operating lease: Schedule of Supplemental Information Related to Operating Leases Three Months Ended March 31, 2024 2023 Operating lease costs during the period (1) $ 9 $ 240 Cash payments included in the measurement of operating lease liabilities during the period $ 121 $ 121 Weighted-average remaining lease term (in years) as of period-end 0.50 1.51 Weighted-average discount rate during the period 9.9 % 9.9 % (1) Operating lease costs is presented net of sublease income that is not material. 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 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. The components of operating lease costs were as follows: Schedule of Operating Lease Costs 2024 2023 Three Months Ended March 31, 2024 2023 Operating lease costs: General and administrative $ 134 $ 295 Total operating lease costs (1) 134 295 Sublease income (125 ) (55 ) Total operating lease costs $ 9 $ 240 (1) Includes certain costs associated with a business membership agreement (see below) that permits access to certain office space for the three months ended March 31, 2024 and 2023 of $ 0 155 0 76 Maturities of the operating lease liability as of March 31, 2024 are summarized as follows: Summary of Maturity of Lease Liabilities Years Ending December 31, 2024 (remaining nine months of the year) $ 249 Minimum lease payments 249 Less imputed interest (7 ) Present value of operating lease liability $ 242 Current portion of operating lease liability $ 242 Sublease Agreement 423 265 Business Membership Lease Termination 4,000 10.0 676 4,518

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	6. Goodwill The changes in carrying value of goodwill are as follows: Schedule of Changes in Carrying Value of Goodwill March 31, 2024 (unaudited) December 31, 2023 As of March 31, 2024 (unaudited) December 31, 2023 Carrying value at beginning of year $ 42,575 $ 39,344 Goodwill acquired in acquisition of Men’s Journal - 1,246 Goodwill acquired in acquisition of Fexy Studios - 1,985 Carrying value at end of period $ 42,575 $ 42,575

Line of Credit

Line of Credit	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Line of Credit	7. Line of Credit Line of Credit 3,448 1,715 The Line of Credit, as amended, provided for (i) $ 40,000 (ii) 19,609 The Company has refinanced the Line of Credit with a new credit facility with Simplify Inventions, LLC (“Simplify”), as further described in Note 10. Information for the three months ended March 31, 2024 and 2023 with respect to interest expense related to the Line of Credit is provided under the heading Interest Expense

Liquidated Damages Payable

Liquidated Damages Payable	3 Months Ended
	Mar. 31, 2024
Liquidated Damages Payable
Liquidated Damages Payable	8. Liquidated Damages Payable Liquidated damages were recorded as a result of the following: (i) certain registration rights agreements that provide for damages if the Company does not register certain shares of the Company’s common stock within the requisite time frame (the “Registration Rights Damages”); and (ii) certain securities purchase agreements that provide for damages if the Company does not maintain its periodic filings with the SEC within the requisite time frame (the “Public Information Failure Damages”). Obligations with respect to the liquidated damages payable are summarized as follows: Summary of Liquidated Damages As of March 31, 2024 (unaudited) Registration Rights Damages Public Information Failure Damages Accrued Interest Balance MDB common stock to be issued (1) $ 15 $ - $ - $ 15 Series H convertible preferred stock 565 574 694 1,833 Convertible debentures - 144 76 220 Series J convertible preferred stock 152 152 137 441 Series K convertible preferred stock 166 70 255 491 Total $ 898 $ 940 $ 1,162 $ 3,000 As of December 31, 2023 Registration Rights Damages Public Information Failure Damages Accrued Interest Balance MDB common stock to be issued (1) $ 15 $ - $ - $ 15 Series H convertible preferred stock 565 574 659 1,798 Convertible debentures - 144 72 216 Series J convertible preferred stock 152 152 129 433 Series K convertible preferred stock 166 70 226 462 Total $ 898 $ 940 $ 1,086 $ 2,924 (1) Consists of shares of common stock issuable to MDB Capital Group, LLC (“MDB”). As of March 31, 2024 and December 31, 2023, the short-term liquidated damages payable were $ 3,000 2,924 1.0 3,000 6 On February 8, 2023, the Company entered into a stock purchase agreement with an investor, where the Company was liable for liquidated damages, pursuant to which the Company issued 47,252 10.56 499 35,486 324 46 370

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value	9. Fair Value 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 Level 2 Level 3 The Company accounted for certain common stock issued in connection with the Fexy Studios acquisition that is subject to a put option (the “Fexy Put Option”), which provides for a cash payment to the sellers on the first anniversary date of the closing (on January 11, 2024) in the event the common stock trading price on such date is less than the common stock trading price on the day immediately preceding the acquisition date of $ 8.10 Fexy Put Option – 2,478 in four (4) equal installments of approximately $ 620 starting February 16, 2024 (paid $ 620 in February 2024) and then on the 15th day of each March (paid $ 620 in March 2024), April (paid $ 620 620 (i) $2,225 pursuant to the Fexy Put Option where the Company gave the recipients of the contingent consideration a right to put their 274,692 shares of the Company’s common stock; (ii) $200 deferred payment due under the purchase agreement; and (iii) $53 in other costs and reimbursable transition expenses payable. 1,238 274,692 379 Liabilities measured at fair value on a recurring basis consisted of the following as of December 31, 2023: Schedule of Fair Value of Financial Instruments Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Contingent consideration $ 1,571 $ - $ 1,571 $ - Contingent Consideration 8.10 2.38 5.72 274,692 For the three months ended March 31, 2024 and 2023, the change in valuation of the contingent consideration of $ 313 499

Simplify Loan

Simplify Loan	3 Months Ended
	Mar. 31, 2024
Simplify Loan
Simplify Loan	10. Simplify Loan On March 13, 2024, the Company entered into a working capital loan agreement with Simplify, a related party as further described in Note 18 (the “Simplify Loan”), pursuant to which the Company has available up to $ 25,000 10.0 7,748 3,448 5.0% 7,748 Information for the three months ended March 31, 2024 and 2023, with respect to interest expense related to the Simplify Loan is provided under the heading Interest Expense

Bridge Notes

Bridge Notes	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Bridge Notes	11. Bridge Notes 2023 Notes In connection with the Note Purchase Agreement, the First Amendment and the Second Amendment (as further described under the heading Principal Stockholder 5,000 3,000 1,000 1,000 2,000 The terms of 2023 Notes provide for: ● an interest rate fixed at 10.0 ● an original maturity date of April 30, 2024 8,000 ● a provision for the failure to repay the $ 8,000 ● an election to prepay the notes, at any time, at 100 The debt issuance cost incurred under the debt modifications pursuant to the First Amendment are being amortized over the term of the 2023 Notes. The debt modification pursuant to the Second Amendment resulted in the unamortized debt issuance cost being amortized over the extended term of the 2023 Notes. On December 29, 2023, the Company failed to make the interest payment due on the 2023 Notes resulting in an event of default with subsequent agreement to a forbearance period through the earlier of the following: (a) September 30, 2024; (b) the occurrence of the closing of the Business Combination and (c) the termination of the Business Combination prior to closing. As of March 31, 2024, the effective interest rate on the 2023 Notes was 14.2 7,972 8,000 28 8,000 Information for the three months ended March 31, 2024 and 2023, with respect to interest expense related to the 2023 Notes is provided under the heading Interest Expense

Debt

Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	12. Debt Pursuant to the Note Purchase Agreement, as amended by the First Amendment and Second Amendment (as further described under the heading Principal Stockholder Senior Secured Notes The terms of the Senior Secured Notes provide for: ● a provision for the Company to enter into Delayed Draw Term Notes (as described below); ● a provision where the Company added $ 13,852 ● a provision where the paid in-kind interest can be paid in shares of the Company’s common stock based upon the conversion rate specified in the Certificate of Designation for the Series K convertible preferred stock, subject to certain adjustments; ● an interest rate of 10.0 ● interest on the notes payable after February 15, 2022, at the agent’s sole discretion, either (a) in cash quarterly in arrears on the last day of each fiscal quarter or (b) by continuing to add such interest due on such payment dates to the principal amount of the notes; ● a maturity date of December 31, 2026 ● the Company to enter into the 2022 Bridge Notes for $ 36,000 Delayed Draw Term Notes The terms of the Delayed Draw Term Notes provide for: ● an interest rate of 10.0 ● interest on the notes payable after February 15, 2022, at the agent’s sole discretion, either (a) in cash quarterly in arrears on the last day of each fiscal quarter or (b) by continuing to add such interest due on such payment dates to the principal amount of the notes; and ● a maturity date on December 31, 2026 2022 Bridge Notes The terms of the 2022 Bridge Notes provide for: ● an interest rate fixed at 10.0 12 1.5 ● a maturity date of December 31, 2026 ● a prepayment requirement to apply a portion of the net proceeds from the Business Combination to repay $ 20,000 ● a provision for the failure to repay the $ 20,000 ● an election to prepay the notes, at any time, in whole or in part with no premium or penalty. The following table summarizes the debt: Schedule of long term debt As of March 31, 2024 (unaudited) As of December 31, 2023 Principal Balance Unamortized Discount and Debt Issuance Costs Carrying Value Principal Balance Unamortized Discount and Debt Issuance Costs Carrying Value Senior Secured Notes, effective interest rate of 10.1% as of March 31, 2024, as amended $ 62,691 $ (249 ) $ 62,442 $ 62,691 $ (272 ) $ 62,419 Senior Secured Notes, effective interest rate of 10.1 $ 62,691 $ (249 ) $ 62,442 $ 62,691 $ (272 ) $ 62,419 Delayed Draw Term Notes, effective interest rate of 10.2 4,000 (28 ) 3,972 4,000 (31 ) 3,969 2022 Bridge Notes, effective interest rate of 10.2 36,000 (72 ) 35,928 36,000 (79 ) 35,921 Total $ 102,691 $ (349 ) $ 102,342 $ 102,691 $ (382 ) $ 102,309 The debt issuance costs incurred under the debt modification pursuant to the First Amendment are being amortized over the term of the long-term debt. The debt modification pursuant to the Second Amendment resulted in the unamortized debt issuance cost being amortized over the extended term of the long-term debt. On December 29, 2023, the Company failed to make the interest payment due on the Secured Senior Notes, Delayed Draw Term Notes and 2022 Bridge Notes (collectively the “Debt”) resulting in an event of default with subsequent agreement to a forbearance period through the earlier of the following: (a) September 30, 2024; (b) the occurrence of the closing of the Business Combination and (c) the termination of the Business Combination prior to closing. As of March 31, 2024 and December 31, 2023, the current maturities of the Debt were $ 102,342 102,309 102,691 Information for the three months ended March 31, 2024 and 2023 with respect to interest expense related to the debt is provided below. Interest Expense The following table represents interest expense: Summary of Interest Expense 2024 2023 Three Months Ended March 31, 2024 2023 Amortization of debt costs: Line of Credit $ 418 $ 54 2023 Notes 7 628 Senior Secured Notes 23 223 Delayed Draw Term Notes 3 25 2023 Notes 85 - Total amortization of debt costs 536 930 Noncash and accrued interest: Simplify Loan 41 - 2023 Notes 202 - Senior Secured Notes 1,585 - Delayed Draw Term Notes 101 - 2022 Bridge Notes 910 - Total noncash and accrued interest 2,839 - Cash paid interest: Line of Credit 795 438 Senior Secured Notes - 1,567 Delayed Draw Term Notes - 100 2022 Bridge Notes - 1,127 Other 169 20 Total cash paid interest 964 3,252 Total interest expense $ 4,339 $ 4,182

Preferred Stock

Preferred Stock	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Preferred Stock	13. Preferred Stock The Company has the authority to issue 1,000,000 0.01 ● 1,800 168 ● 23,000 no

Stockholders_ Deficiency

Stockholders’ Deficiency	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Stockholders’ Deficiency	14. Stockholders’ Deficiency Common Stock The Company has the authority to issue 1,000,000,000 0.01 Common Stock Private Placement – 5,555,555 shares (the “Private Placement Shares”) of the Company’s common stock, at a purchase price of $ 2.16 per share, a price equal to the 60-day volume weighted average price of the Company’s common stock. The Private Placement closed on February 14, 2024 and the Company received proceeds from the Private Placement of $ 12,000 as reflected on the condensed consolidated statements of stockholders’ deficiency. The proceeds were used for working capital and general corporate purposes. Further information is provided in Note 18. Common Stock Registered Direct Offering 2,963,918 3.88 11,500 11,211 289 Restricted Stock Units 678,165 397,376

Compensation Plans

Compensation Plans	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Compensation Plans	15. Compensation Plans The Company provides stock-based and equity-based compensation in the form of (a) restricted stock awards and restricted stock units to certain employees (the “Restricted Stock”), (b) stock option awards, unrestricted stock awards and stock appreciation rights to employees, directors and consultants under various plans (the “Common Stock Options”), and (c) common stock warrants, referred to as the ABG Warrants and Publisher Partner Warrants (collectively the “Warrants”) as referenced in the below table. Stock-based compensation and equity-based expense charged to operations or capitalized are summarized as follows: Summary of Stock-based Compensation Three Months Ended March 31, 2024 Restricted Common Warrants Totals Cost of revenue $ 35 $ 347 $ 3 $ 385 Selling and marketing 2 107 - 109 General and administrative 190 229 - 419 Total costs charged to operations 227 683 3 913 Capitalized platform development - 208 - 208 Total stock-based compensation $ 227 $ 891 $ 3 $ 1,121 Three Months Ended March 31, 2023 Restricted Common Stock Options Warrants Totals Cost of revenue $ 794 $ 1,189 $ - $ 1,983 Selling and marketing 65 303 - 368 General and administrative 2,352 1,288 246 3,886 Total costs charged to operations 3,211 2,780 246 6,237 Capitalized platform development - 307 - 307 Total stock-based compensation $ 3,211 $ 3,087 $ 246 $ 6,544 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, 2024 were as follows: Schedule of Unrecognized Compensation Expense As of March 31, 2024 Restricted Stock Common Stock Options Warrants Totals Unrecognized compensation expense $ 1,052 $ 1,939 $ 23 $ 3,014 Weighted average period expected to be recognized (in years) 1.55 1.39 1.77 1.45 Modification of Warrants 599,724 449,793 9.24 149,931 18.48 Modification of Awards – 38,026 restricted stock units with time-based vesting that were unvested were vested and 21,117 options for shares of the Company’s common stock with time-based vesting that were unvested were vested, each subject to compliance with applicable securities laws and certain other provisions. In connection with the modification of these equity awards, the Company agreed to purchase a options exercisable for 45,632 24,515 ) as of the resignation date of the employee at a price of $ 10.29 per share, reduced by the exercise price and required tax withholdings, subject to certain conditions. The modification of the equity awards resulted in the unamortized costs being recognized at the modification date. The cash price of $ 10.29 per option less the strike price of $ 8.82 per option resulted in incremental cost of $ 68 being recognized at the modification date. The modification resulted in liability classification of the equity awards, with $ 68 paid during the three months ended March 31, 2023.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	16. Revenue Recognition Disaggregation of Revenue The following table provides information about disaggregated revenue by category, geographical market and timing of revenue recognition: Schedule of Disaggregation of Revenue 2024 2023 Three Months Ended March 31, 2024 2023 Revenue by category: Digital revenue Digital advertising $ 22,748 $ 19,093 Digital subscriptions 2,334 3,661 Licensing and syndication revenue 2,300 3,351 Other digital revenue 1,286 551 Total digital revenue 28,668 26,656 Print revenue Print advertising - 656 Print subscriptions 273 1,106 Total print revenue 273 1,762 Total $ 28,941 $ 28,418 Revenue by geographical market: United States $ 27,411 $ 27,319 Other 1,530 1,099 Total $ 28,941 $ 28,418 Revenue by timing of recognition: At point in time $ 26,607 $ 24,757 Over time 2,334 3,661 Total $ 28,941 $ 28,418 Total revenue 28,941 28,418 For the three months ended March 31, 2024 and 2023, disaggregated revenue represents revenue from continuing operations. 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: Schedule of Contract with Customer, Asset and Liability March 31, 2024 (unaudited) December 31, 2023 As of March 31, 2024 (unaudited) December 31, 2023 Unearned revenue (short-term contract liabilities): Digital revenue $ 12,370 $ 16,938 Total short-term contract liabilities $ 12,370 $ 16,938 Unearned revenue (long-term contract liabilities): Digital revenue $ 624 $ 542 Total long-term contract liabilities $ 624 $ 542 Unearned Revenue

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	17. Income Taxes The provision for income taxes in interim periods is determined using an estimate of the Company’s annual effective tax rate, adjusted for discrete items, if any, that arise during the period. Each quarter, the Company updates its estimate of its annual effective tax rate, and if the estimated annual effective tax rate changes, the Company makes a cumulative adjustment in such period. The quarterly provision for income taxes, and estimate of the Company’s annual effective tax rate, are subject to variation due to several factors, including variability in pre-tax income (or loss), the mix of jurisdictions to which such income relates, changes in how the Company conducts business, and tax law developments. The income tax provision (benefit) effective tax rate for the three months ended March 31, 2024 and 2023 was 0.32% 0.04% The realization of deferred tax assets is dependent upon a variety of factors, including the generation of future taxable income, the reversal of deferred tax liabilities, and tax planning strategies. Based upon the Company’s historical operating losses and the uncertainty of future taxable income, the Company has provided a valuation allowance against most of the deferred tax assets as of March 31, 2024 and 2023. As of March 31, 2024 and 2023, the Company has no

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	18. Related Party Transactions Principal Stockholder Arena Loan Agreement 2,797 110,691 8,000 102,691 On April 29, 2024, the forbearance period was extended through the earlier of the following: (a) September 30, 2024; (b) the occurrence of the closing of the Business Combination (as further described below) and (c) the termination of the Business Combination prior to closing. For the three months ended March 31, 2024, the Company had certain transactions with Renew, where it incurred interest expense totaling $ 2,798 5,595 Common Stock Private Placement – 54.3% Business Combination – 25,000 0.0001 1,000.00 25,000 5,000,000 0.0001 5.00 25,000 20,000 3.86 60,000 1.5% Immediately following the Closing, (i) Simplify will own approximately 79% of the outstanding shares of New Arena Common Stock, on a fully diluted basis, (ii) 5-Hour will own approximately 6% of the outstanding New Arena Common Stock and (iii) former Arena stockholders will own the remaining outstanding New Arena Common Stock. Such amounts exclude the ownership of shares of New Arena Common Stock that may be issued from time to time pursuant to the Equity Line of Credit. Following the Closing, Arena common stock will be delisted from the NYSE American (the “NYSE American”) and deregistered under the Securities Exchange Act of 1934, as amended, and cease to be publicly traded. New Arena and its subsidiaries will operate under Arena’s current name “The Arena Group Holdings, Inc.” and New Arena Common Stock will be traded on the NYSE American under Arena’s current stock ticker symbol “AREN.” Former Principal Stockholder Note Purchase Agreement (1) the 2023 Notes until paid in full; (2) then to the 2022 Bridge Notes until paid in full; (3) then to the Delayed Draw Terms Notes until paid in full; and (4) then to the Senior Secured Notes. All borrowings under the Notes are collateralized by substantially all assets of the Company secured by liens and guaranteed by the Company’s subsidiaries. The Notes provide for a default interest rate equal to the rate of interest in effect at the time of default plus 4.0%, along with other provision for acceleration of the Notes under certain conditions. The Notes provided for certain affirmative covenants, including certain financial reporting obligations. On December 1, 2023, Renew purchased all of the notes held by B. Riley and assumed the role of agent under the Note Purchase Agreement, and also purchased all of the common stock held by B. Riley. For the three months ended March 31, 2023, the Company paid in cash interest of $ 2,998 on the Notes, due to BRF. Registered Direct Offering – 1,009,021 3,915 3.88 For the three months ended March 31, 2023, the Company had certain transactions with B. Riley, where it paid fees associated with the common stock public offering totaling $ 2,440 Board Members Registered Direct Offering – 317,518 1,232 3.88 64,000 248 32,000 32,000 195,529 759 5% 25,773 100 25,773 100 6,443 25

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	19. Commitments and Contingencies Legal Contingencies Claims and Litigation – On January 30, 2024, the former President of Media filed an action against the Company and Manoj Bhargava, the former interim CEO and a principal stockholder, alleging claims for breach of contract, failure to pay wages and defamation, among other things, in the United States District Court of the Southern District of New York, seeking damages in an unspecified amount. The Company believes that it has strong defenses to these claims and intends to vigorously defend itself and the allegations made in this lawsuit. On March 21, 2024, the former CEO and Chairman of the board of directors filed an action against the Company, members of its board of directors and Simplify, alleging claims for retaliation, breach of contract, wrongful termination and age discrimination, among other things, in the Superior Court of the State of California seeking damages in an amount of $ 20,000 On April 1, 2024, Authentic Brands Group, LLC, ABG-SI, LLC, and ABG Intermediate Holdings 2 LLC (collectively referred to as ABG) filed an action against the Company and Manoj Bhargave, the former interim CEO and a principal stockholder, alleging breach of contract among other things, in the United States District Court of the Southern District of New York seeking damages in the amount of $ 48,750 3,750 45,000 In connection with the Company’s acquisition of Athlon Holdings, Inc., the Company prepared the working capital adjustment to the purchase price. The sellers are challenging the Company’s adjustments and both parties have agreed to a standstill and tolling agreement while the adjustments are being reviewed and discussed. The amount due from this challenge, if any, is not estimatable as of the issuance date of these condensed consolidated financial statements.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	20. Subsequent Events The Company performed an evaluation of subsequent events through the date of filing of these 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 consolidated financial statements. Resignation and Appointments On April 19, 2024, the Board appointed Sara Silverstein as the Chief Executive Officer, effective immediately, replacing Cavitt Randall. Effective April 26, 2026, in connection with the ending of the interim management engagement with FTI Consulting Inc., Jason Frankl will no longer serve as interim Co-President and Chief Business Transformation Officer of the Company and Manoj Bhargava will serve as President. Lease Agreement Effective April 1, 2024, the Company entered into a sublease agreement for office space located in New York, NY with an expiration date of November 29, 2030 4,019 652 Common Stock From April 1, 2024 through the date these condensed consolidated financial statements were issued, the Company issued 17,698 shares of its common stock to members of the board of directors.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements include the accounts of The Arena Group Holdings, Inc. and its wholly owned subsidiaries (“The Arena Group” or the “Company”), after eliminating all significant intercompany balances and transactions. The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (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 (“GAAP”) for complete audited financial statements. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements, which are included in The Arena Group’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on April 1, 2024. The condensed consolidated financial statements as of March 31, 2024, and for the three months ended March 31, 2024 and 2023, 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, 2023, was derived from audited financial statements, but does not include all disclosures required by 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 business and operations are sensitive to general business and economic conditions in the United States and worldwide. These conditions include short-term and long-term interest rates, inflation, fluctuations in debt and equity capital markets and the general condition of the United States and world economy. A host of factors beyond the Company’s control could cause fluctuations in these conditions. Adverse developments in these general business and economic conditions could have a material adverse effect on the Company’s financial condition and the results of its operations. In addition, the Company will compete with many companies that currently have extensive and well-funded projects, marketing and sales operations as well as extensive human capital. The Company may be unable to compete successfully against these companies. The Company’s industry is characterized by rapid changes in technology and market demands. As a result, the Company’s products, services, or expertise may become obsolete or unmarketable. The Company’s future success will depend on its ability to adapt to technological advances, anticipate customer and market demands, and enhance its current technology under development. Uncertainty in the global economy presents significant risks to the Company’s business. Increases in inflation, rising interest rates, instability in the global banking system, geopolitical factors, including the ongoing conflicts in Ukraine and Israel and the responses thereto, and the remaining effects of the COVID-19 pandemic may have an adverse effect on the Company’s business. While the Company is closely monitoring the impact of the current macroeconomic conditions on all aspects of its business, the ultimate extent of the impact on its business remains highly uncertain and will depend on future developments and factors that continue to evolve. Most of these developments and factors are outside of the Company’s control and could exist for an extended period of time. As a result, the Company is subject to continuing risks and uncertainties. The Company operates in one
Going Concern	Going Concern The Company’s condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. The Company’s condensed consolidated financial statements do not include any adjustments that might be necessary if it is unable to continue as a going concern. For the three months ended March 31, 2024, the Company incurred a net loss from continuing operations of $ 12,720 4,003 225,009 In its evaluation, management determined there is substantial doubt about the Company’s ability to continue as a going concern for a one-year period following the financial statement issuance date, unless it is able to refinance or modify its current debt and complete the Business Combination. The Company plans to refinance or modify the maturities of its current debt and complete the Business Combination to alleviate the conditions that raise substantial doubt about its ability to continue as a going concern, however, there can be no assurance that the Company will be able to refinance or modify its current debt and complete the Business Combination.
Use of Estimates	Use of Estimates The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements and the reported results of operations during the reporting period. Significant estimates include: reserves for bad debt; capitalization of platform development and associated useful lives; goodwill and other acquired intangible assets and associated useful lives; assumptions used in accruals for potential liabilities; revenue recognition and estimates of standalone selling price of performance obligations for revenue contracts with multiple performance obligations; stock-based compensation and the determination of the fair value; valuation allowances for deferred tax assets and uncertain tax positions; accounting for business combinations; and assumptions used to calculate contingent liabilities. These estimates are based on information available as of the date of the condensed consolidated financial statements; therefore, actual results could differ from management’s estimates.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In June 2022, the Financial Accounting Standards Board (the “FASB”) issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions
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 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. 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. 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 loss per common share, as their effect would have been anti-dilutive. Common stock equivalent shares are excluded from the diluted calculations when a net loss is incurred as they would be anti-dilutive. Schedule of Common Stock Equivalent Shares Excluded From Diluted Calculations 2024 2023 As of March 31, 2024 2023 Series G convertible preferred stock 8,582 8,582 Series H convertible preferred stock - 1,981,128 Financing warrants 39,774 107,956 ABG Warrants 999,540 999,540 AllHipHop warrants 5,682 5,682 Publisher Partner Warrants 9,800 11,002 Restricted stock awards - 97,403 Restricted stock units 329,533 888,152 Common stock options 4,485,881 6,183,262 Total 5,878,792 10,282,707

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Schedule of Common Stock Equivalent Shares Excluded From Diluted Calculations	Schedule of Common Stock Equivalent Shares Excluded From Diluted Calculations 2024 2023 As of March 31, 2024 2023 Series G convertible preferred stock 8,582 8,582 Series H convertible preferred stock - 1,981,128 Financing warrants 39,774 107,956 ABG Warrants 999,540 999,540 AllHipHop warrants 5,682 5,682 Publisher Partner Warrants 9,800 11,002 Restricted stock awards - 97,403 Restricted stock units 329,533 888,152 Common stock options 4,485,881 6,183,262 Total 5,878,792 10,282,707

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations	The table below sets forth the loss from discontinued operations: Schedule of Discontinued Operations 2024 2023 Three Months Ended March 31, 2024 2023 Revenue $ 21,848 $ 22,962 Cost of revenue 13,981 11,945 Gross profit 7,867 11,017 Operating expense Selling and marketing 11,503 12,122 General and administrative( 1 45,192 78 Depreciation and amortization 2,401 3,670 Loss on impairment of assets 39,391 - Total operating expenses 98,487 15,870 Loss from discontinued operations (90,620 ) (4,853 ) Income tax benefit (18 ) - Net loss from discontinued operations $ (90,638 ) $ (4,853 ) (1) Includes $ 45,000 The table below sets forth the major classes of assets and liabilities of the discontinued operations: March 31, 2024 December 31, 2023 As of March 31, 2024 December 31, 2023 Assets Accounts receivable, net $ 5,691 $ 13,135 Subscription acquisition costs, current portion - 29,706 Prepayments and other current assets - 807 Current assets from discontinued operations 5,691 43,648 Subscription acquisition costs, net of current portion - 7,215 Acquired and other intangibles assets, net - 11,002 Noncurrent assets from discontinued operations - 18,217 Total assets from discontinued operations $ 5,691 $ 61,865 Liabilities Accounts payable $ 1,458 $ 2,554 Accrued expenses and other 2,406 1,868 Subscription refund liability 423 403 Royalty fee liability 3,750 - Termination fee liability 45,000 - Subscription liability, current portion 45,837 42,848 Current liabilities from discontinued operations 98,874 47,673 Subscription liability, net of current portion - 10,137 Noncurrent liabilities from discontinued operations - 10,137 Total liabilities from discontinued operations $ 98,874 $ 57,810 The table below sets forth the cash flows of the discontinued operations: 2024 2023 Three Months Ended March 31, 2024 2023 Cash flows from operating activities from discontinued operations Net loss from discontinued operations $ (90,638 ) $ (4,853 ) Adjustments to reconcile net loss to net cash used in operating activities: Amortization of intangible assets 2,401 3,670 Loss on impairment of assets 39,391 - Stock-based compensation 538 190 Change in operating assets and liabilities: Accounts receivable, net 7,444 5,000 Subscription acquisition costs 6,131 (4,304 ) Prepayments and other current assets 807 190 Accounts payable 2,654 229 Accrued expenses and other 538 118 Subscription refund liability 20 (150 ) Subscription liability (7,148 ) 4,233 Termination fee liability 45,000 - Net cash used in operating activities from discontinued operations $ 7,138 $ 4,323

Acquisitions (Tables)

Acquisitions (Tables) - Fexy Studios [Member]	3 Months Ended
	Mar. 31, 2024
Asset Acquisition [Line Items]
Schedule of Composition Preliminary Assets Purchase Price	The composition of the purchase price is as follows: Schedule of Composition Preliminary Assets Purchase Price Cash $ 500 Common stock 2,000 Contingent consideration 561 Deferred cash payments, as discounted 246 Total purchase consideration $ 3,307
Summary of Preliminary Assets Purchase Price Allocation	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: Summary of Preliminary Assets Purchase Price Allocation Advertiser relationships $ 663 Brand names 659 Goodwill 1,985 Net assets acquired $ 3,307

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Allowance For Doubtful Accounts	The following table summarizes the allowance for doubtful accounts activity: Schedule of Allowance For Doubtful Accounts Three Months Ended March 31, 2024 (unaudited) Year Ended December 31, 2023 Allowance for doubtful accounts beginning of year $ 374 $ 2,236 Additions 670 315 Deductions – discontinued operations (127 ) (607 ) Deductions – write-offs (268 ) (1,570 ) Allowance for doubtful accounts end of period $ 649 $ 374
Schedule of Prepayments and Other Current Assets	Prepayments and Other Current Assets Schedule of Prepayments and Other Current Assets March 31, 2024 (unaudited) December 31, 2023 As of March 31, 2024 (unaudited) December 31, 2023 Prepaid expenses $ 2,539 $ 2,139 Prepaid supplies 137 773 Refundable income and franchise taxes 157 157 Unamortized debt costs - 209 Employee retention credits 2,468 2,468 Excess collections under line of credit 1,715 - Other receivables 6 45 Total prepayments and other current assets $ 7,022 $ 5,791
Schedule of Property and Equipment	Property and Equipment Schedule of Property and Equipment March 31, 2024 (unaudited) December 31, 2023 As of March 31, 2024 (unaudited) December 31, 2023 Office equipment and computers $ 1,777 $ 1,744 Furniture and fixtures 133 166 Gross property and equipment 1,910 1,910 Less accumulated depreciation and amortization (1,649 ) (1,582 ) Net property and equipment $ 261 $ 328
Summary of Platform Development Costs	Platform Development Summary of Platform Development Costs March 31, 2024 (unaudited) December 31, 2023 As of March 31, 2024 (unaudited) December 31, 2023 Platform development $ 26,975 $ 26,054 Less accumulated amortization (18,880 ) (17,331 ) Net platform development $ 8,095 $ 8,723
Summary of Platform Development Cost Activity	A summary of platform development activity for the three months ended March 31, 2024 is as follows: Summary of Platform Development Cost Activity Platform development beginning of period $ 26,054 Payroll-based costs capitalized 713 Total capitalized costs 26,767 Stock-based compensation 208 Platform development end of period $ 26,975
Schedule of Intangible Assets Subject to Amortization	Intangible Assets Schedule of Intangible Assets Subject to Amortization As of March 31, 2024 (unaudited) As of December 31, 2023 Carrying Amount Accumulated Amortization Net Carrying Amount Carrying Amount Accumulated Amortization Net Carrying Amount Developed technology $ 17,333 $ (17,333 ) $ - $ 17,333 $ (17,333 ) $ - Trade name 5,181 (1,610 ) 3,571 5,181 (1,547 ) 3,634 Brand name 12,115 (2,671 ) 9,444 12,774 (2,374 ) 10,400 Subscriber relationships 2,150 (1,187 ) 963 2,150 (1,121 ) 1,029 Advertiser relationships 14,519 (3,158 ) 11,361 15,182 (2,832 ) 12,350 Database 1,140 (1,140 ) - 1,140 (1,140 ) - Digital content 355 (355 ) - 355 (311 ) 44 Total intangible assets $ 52,793 $ (27,454 ) $ 25,339 $ 54,115 $ (26,658 ) $ 27,457
Schedule of Accrued Expenses	Accrued Expenses and Other Schedule of Accrued Expenses March 31, 2024 December 31, 2023 As of March 31, 2024 December 31, 2023 General accrued expenses $ 3,850 $ 5,551 Accrued payroll and related taxes 5,427 4,515 Accrued publisher expenses 4,765 7,596 Accrued interest 5,635 3,824 Liabilities in connection with acquisitions and dispositions 740 1,119 Assumed lease liability 1,379 1,328 Lease termination liability 4,518 4,481 Other accrued expenses 474 489 Total accrued expenses and other $ 26,788 $ 28,903

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Leases
Schedule of Supplemental Information Related to Operating Leases	The table below presents supplemental information related to the operating lease: Schedule of Supplemental Information Related to Operating Leases Three Months Ended March 31, 2024 2023 Operating lease costs during the period (1) $ 9 $ 240 Cash payments included in the measurement of operating lease liabilities during the period $ 121 $ 121 Weighted-average remaining lease term (in years) as of period-end 0.50 1.51 Weighted-average discount rate during the period 9.9 % 9.9 % (1) Operating lease costs is presented net of sublease income that is not material.
Schedule of Operating Lease Costs	The components of operating lease costs were as follows: Schedule of Operating Lease Costs 2024 2023 Three Months Ended March 31, 2024 2023 Operating lease costs: General and administrative $ 134 $ 295 Total operating lease costs (1) 134 295 Sublease income (125 ) (55 ) Total operating lease costs $ 9 $ 240 (1) Includes certain costs associated with a business membership agreement (see below) that permits access to certain office space for the three months ended March 31, 2024 and 2023 of $ 0 155 0 76
Summary of Maturity of Lease Liabilities	Maturities of the operating lease liability as of March 31, 2024 are summarized as follows: Summary of Maturity of Lease Liabilities Years Ending December 31, 2024 (remaining nine months of the year) $ 249 Minimum lease payments 249 Less imputed interest (7 ) Present value of operating lease liability $ 242 Current portion of operating lease liability $ 242

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Value of Goodwill	The changes in carrying value of goodwill are as follows: Schedule of Changes in Carrying Value of Goodwill March 31, 2024 (unaudited) December 31, 2023 As of March 31, 2024 (unaudited) December 31, 2023 Carrying value at beginning of year $ 42,575 $ 39,344 Goodwill acquired in acquisition of Men’s Journal - 1,246 Goodwill acquired in acquisition of Fexy Studios - 1,985 Carrying value at end of period $ 42,575 $ 42,575

Liquidated Damages Payable (Tab

Liquidated Damages Payable (Tables)	3 Months Ended
	Mar. 31, 2024
Liquidated Damages Payable
Summary of Liquidated Damages	Obligations with respect to the liquidated damages payable are summarized as follows: Summary of Liquidated Damages As of March 31, 2024 (unaudited) Registration Rights Damages Public Information Failure Damages Accrued Interest Balance MDB common stock to be issued (1) $ 15 $ - $ - $ 15 Series H convertible preferred stock 565 574 694 1,833 Convertible debentures - 144 76 220 Series J convertible preferred stock 152 152 137 441 Series K convertible preferred stock 166 70 255 491 Total $ 898 $ 940 $ 1,162 $ 3,000 As of December 31, 2023 Registration Rights Damages Public Information Failure Damages Accrued Interest Balance MDB common stock to be issued (1) $ 15 $ - $ - $ 15 Series H convertible preferred stock 565 574 659 1,798 Convertible debentures - 144 72 216 Series J convertible preferred stock 152 152 129 433 Series K convertible preferred stock 166 70 226 462 Total $ 898 $ 940 $ 1,086 $ 2,924 (1) Consists of shares of common stock issuable to MDB Capital Group, LLC (“MDB”).

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Financial Instruments	Liabilities measured at fair value on a recurring basis consisted of the following as of December 31, 2023: Schedule of Fair Value of Financial Instruments Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Contingent consideration $ 1,571 $ - $ 1,571 $ -

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of long term debt	The following table summarizes the debt: Schedule of long term debt As of March 31, 2024 (unaudited) As of December 31, 2023 Principal Balance Unamortized Discount and Debt Issuance Costs Carrying Value Principal Balance Unamortized Discount and Debt Issuance Costs Carrying Value Senior Secured Notes, effective interest rate of 10.1% as of March 31, 2024, as amended $ 62,691 $ (249 ) $ 62,442 $ 62,691 $ (272 ) $ 62,419 Senior Secured Notes, effective interest rate of 10.1 $ 62,691 $ (249 ) $ 62,442 $ 62,691 $ (272 ) $ 62,419 Delayed Draw Term Notes, effective interest rate of 10.2 4,000 (28 ) 3,972 4,000 (31 ) 3,969 2022 Bridge Notes, effective interest rate of 10.2 36,000 (72 ) 35,928 36,000 (79 ) 35,921 Total $ 102,691 $ (349 ) $ 102,342 $ 102,691 $ (382 ) $ 102,309
Summary of Interest Expense	The following table represents interest expense: Summary of Interest Expense 2024 2023 Three Months Ended March 31, 2024 2023 Amortization of debt costs: Line of Credit $ 418 $ 54 2023 Notes 7 628 Senior Secured Notes 23 223 Delayed Draw Term Notes 3 25 2023 Notes 85 - Total amortization of debt costs 536 930 Noncash and accrued interest: Simplify Loan 41 - 2023 Notes 202 - Senior Secured Notes 1,585 - Delayed Draw Term Notes 101 - 2022 Bridge Notes 910 - Total noncash and accrued interest 2,839 - Cash paid interest: Line of Credit 795 438 Senior Secured Notes - 1,567 Delayed Draw Term Notes - 100 2022 Bridge Notes - 1,127 Other 169 20 Total cash paid interest 964 3,252 Total interest expense $ 4,339 $ 4,182

Compensation Plans (Tables)

Compensation Plans (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Stock-based Compensation	Stock-based compensation and equity-based expense charged to operations or capitalized are summarized as follows: Summary of Stock-based Compensation Three Months Ended March 31, 2024 Restricted Common Warrants Totals Cost of revenue $ 35 $ 347 $ 3 $ 385 Selling and marketing 2 107 - 109 General and administrative 190 229 - 419 Total costs charged to operations 227 683 3 913 Capitalized platform development - 208 - 208 Total stock-based compensation $ 227 $ 891 $ 3 $ 1,121 Three Months Ended March 31, 2023 Restricted Common Stock Options Warrants Totals Cost of revenue $ 794 $ 1,189 $ - $ 1,983 Selling and marketing 65 303 - 368 General and administrative 2,352 1,288 246 3,886 Total costs charged to operations 3,211 2,780 246 6,237 Capitalized platform development - 307 - 307 Total stock-based compensation $ 3,211 $ 3,087 $ 246 $ 6,544
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, 2024 were as follows: Schedule of Unrecognized Compensation Expense As of March 31, 2024 Restricted Stock Common Stock Options Warrants Totals Unrecognized compensation expense $ 1,052 $ 1,939 $ 23 $ 3,014 Weighted average period expected to be recognized (in years) 1.55 1.39 1.77 1.45

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table provides information about disaggregated revenue by category, geographical market and timing of revenue recognition: Schedule of Disaggregation of Revenue 2024 2023 Three Months Ended March 31, 2024 2023 Revenue by category: Digital revenue Digital advertising $ 22,748 $ 19,093 Digital subscriptions 2,334 3,661 Licensing and syndication revenue 2,300 3,351 Other digital revenue 1,286 551 Total digital revenue 28,668 26,656 Print revenue Print advertising - 656 Print subscriptions 273 1,106 Total print revenue 273 1,762 Total $ 28,941 $ 28,418 Revenue by geographical market: United States $ 27,411 $ 27,319 Other 1,530 1,099 Total $ 28,941 $ 28,418 Revenue by timing of recognition: At point in time $ 26,607 $ 24,757 Over time 2,334 3,661 Total $ 28,941 $ 28,418 Total revenue 28,941 28,418
Schedule of Contract with Customer, Asset and Liability	The following table provides information about contract balances: Schedule of Contract with Customer, Asset and Liability March 31, 2024 (unaudited) December 31, 2023 As of March 31, 2024 (unaudited) December 31, 2023 Unearned revenue (short-term contract liabilities): Digital revenue $ 12,370 $ 16,938 Total short-term contract liabilities $ 12,370 $ 16,938 Unearned revenue (long-term contract liabilities): Digital revenue $ 624 $ 542 Total long-term contract liabilities $ 624 $ 542

Schedule of Common Stock Equiva

Schedule of Common Stock Equivalent Shares Excluded From Diluted Calculations (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	5,878,792	10,282,707
Series G Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	8,582	8,582
Series H Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total		1,981,128
Financing Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	39,774	107,956
ABG Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	999,540	999,540
All Hip Hop Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	5,682	5,682
Publisher Partner Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	9,800	11,002
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total		97,403
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	329,533	888,152
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	4,485,881	6,183,262

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) Segment	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Accounting Policies [Abstract]
Number of reportable segment | Segment	1
Net loss from continuing operations	$ 12,720	$ 14,524
Cash	4,003	$ 15,961	$ 9,284
Working capital	$ 225,009

Schedule of Discontinued Operat

Schedule of Discontinued Operations (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Operating expense
Net loss from discontinued operations		$ (90,638)	$ (4,853)
Termination fee liability		45,000
Assets
Current assets from discontinued operations		5,691		$ 43,648
Noncurrent assets from discontinued operations				18,217
Liabilities
Current liabilities from discontinued operations		98,874		47,673
Noncurrent liabilities from discontinued operations				10,137
Sports Illustrated Media Business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue		21,848	22,962
Cost of revenue		13,981	11,945
Gross profit		7,867	11,017
Operating expense
Selling and marketing		11,503	12,122
General and administrative()	[1]	45,192	78
Amortization of intangible assets		2,401	3,670
Loss on impairment of assets		39,391
Total operating expenses		98,487	15,870
Loss from discontinued operations		(90,620)	(4,853)
Income tax benefit		(18)
Net loss from discontinued operations		(90,638)	(4,853)
Assets
Accounts receivable, net		5,691		13,135
Subscription acquisition costs, current portion				29,706
Prepayments and other current assets				807
Current assets from discontinued operations		5,691		43,648
Subscription acquisition costs, net of current portion				7,215
Acquired and other intangibles assets, net				11,002
Noncurrent assets from discontinued operations				18,217
Total assets from discontinued operations		5,691		61,865
Liabilities
Accounts payable		1,458		2,554
Accrued expenses and other		2,406		1,868
Subscription refund liability		423		403
Royalty fee liability		3,750
Termination fee liability		45,000
Subscription liability, current portion		45,837		42,848
Current liabilities from discontinued operations		98,874		47,673
Subscription liability, net of current portion				10,137
Noncurrent liabilities from discontinued operations				10,137
Total liabilities from discontinued operations		98,874		$ 57,810
Cash flows from operating activities from discontinued operations
Stock-based compensation		538	190
Accounts receivable, net		7,444	5,000
Subscription acquisition costs		6,131	(4,304)
Prepayments and other current assets		807	190
Accounts payable		2,654	229
Accrued expenses and other		538	118
Subscription refund liability		20	(150)
Subscription liability		(7,148)	4,233
Termination fee liability		45,000
Net cash used in operating activities from discontinued operations		$ 7,138	$ 4,323
[1]Includes $ 45,000

Schedule of Composition Prelimi

Schedule of Composition Preliminary Assets Purchase Price (Details) - Teneology Inc [Member] - Fexy Studios [Member] $ in Thousands	Jan. 11, 2023 USD ($)
Asset Acquisition [Line Items]
Cash	$ 500
Common stock	2,000
Contingent consideration	561
Deferred cash payments, as discounted	246
Total purchase consideration	$ 3,307

Summary of Preliminary Assets P

Summary of Preliminary Assets Purchase Price Allocation (Details) - Teneology Inc [Member] - Fexy Studios [Member] $ in Thousands	Jan. 11, 2023 USD ($)
Asset Acquisition [Line Items]
Net assets acquired	$ 3,307
Advertiser Relationships [Member]
Asset Acquisition [Line Items]
Net assets acquired	663
Brand Names [Member]
Asset Acquisition [Line Items]
Net assets acquired	659
Goodwill [Member]
Asset Acquisition [Line Items]
Net assets acquired	$ 1,985

Acquisitions (Details Narrative

Acquisitions (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands					3 Months Ended
	May 01, 2023	Apr. 01, 2023	Mar. 01, 2023	Jan. 11, 2023	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Asset Acquisition [Line Items]
Share value					$ 12,000
Goodwill					$ 42,575	$ 42,575	$ 39,344
Advertiser Relationships [Member]
Asset Acquisition [Line Items]
Estimated useful life					15 years
Brand Names [Member]
Asset Acquisition [Line Items]
Estimated useful life					12 years
Teneology Inc [Member] | Fexy Studios [Member]
Asset Acquisition [Line Items]
Goodwill					$ 1,678
Teneology Inc [Member] | Fexy Studios [Member]
Asset Acquisition [Line Items]
Purchase price				$ 3,307
Cash paid for consideration				500
Advance payments of cash				250
Deferred cash payments	$ 25	$ 25	$ 25	75
Deferred cash payment due				$ 200
Number of shares issued for asset acquisition				274,692
Fair value of shares issued				$ 2,000
Share value				$ 2,225
Common stock trading price				$ 7.94
Cash retention pool for employees				$ 300
Asset acquisition transaction cost				$ 99

Schedule of Allowance For Doubt

Schedule of Allowance For Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Allowance for doubtful accounts beginning of year	$ 374	$ 2,236
Additions	670	315
Deductions – discontinued operations	(127)	(607)
Deductions – write-offs	(268)	(1,570)
Allowance for doubtful accounts end of period	$ 649	$ 374

Schedule of Prepayments and Oth

Schedule of Prepayments and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 2,539	$ 2,139
Prepaid supplies	137	773
Refundable income and franchise taxes	157	157
Unamortized debt costs		209
Employee retention credits	2,468	2,468
Excess collections under line of credit	1,715
Other receivables	6	45
Total prepayments and other current assets	$ 7,022	$ 5,791

Schedule of Property and Equipm

Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Gross property and equipment	$ 1,910	$ 1,910
Less accumulated depreciation and amortization	(1,649)	(1,582)
Net property and equipment	261	328
Office Equipment And Computers [Member]
Property, Plant and Equipment [Line Items]
Gross property and equipment	1,777	1,744
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Gross property and equipment	$ 133	$ 166

Summary of Platform Development

Summary of Platform Development Costs (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Platform development	$ 52,793	$ 54,115
Less accumulated amortization	27,454	26,658
Net platform development	25,339	27,457
Platform Development [Member]
Property, Plant and Equipment [Line Items]
Platform development	26,975	26,054
Less accumulated amortization	(18,880)	(17,331)
Net platform development	$ 8,095	$ 8,723

Summary of Platform Developme_2

Summary of Platform Development Cost Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Line Items]
Stock-based compensation	$ 1,451	$ 6,427
Platform Development [Member]
Property, Plant and Equipment [Line Items]
Platform development beginning of year	26,054
Payroll-based costs capitalized	713
Total capitalized payroll-based costs	26,767
Stock-based compensation	208
Platform development end of year	$ 26,975

Schedule of Intangible Assets S

Schedule of Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 52,793	$ 54,115
Intangible assets, accumulated amortization	(27,454)	(26,658)
Intangible assets, net	25,339	27,457
Developed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	17,333	17,333
Intangible assets, accumulated amortization	(17,333)	(17,333)
Intangible assets, net
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	5,181	5,181
Intangible assets, accumulated amortization	(1,610)	(1,547)
Intangible assets, net	3,571	3,634
Brand Names [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	12,115	12,774
Intangible assets, accumulated amortization	(2,671)	(2,374)
Intangible assets, net	9,444	10,400
Subscriber Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	2,150	2,150
Intangible assets, accumulated amortization	(1,187)	(1,121)
Intangible assets, net	963	1,029
Advertiser Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	14,519	15,182
Intangible assets, accumulated amortization	(3,158)	(2,832)
Intangible assets, net	11,361	12,350
Database Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	1,140	1,140
Intangible assets, accumulated amortization	(1,140)	(1,140)
Intangible assets, net
Digital Content [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	355	355
Intangible assets, accumulated amortization	(355)	(311)
Intangible assets, net		$ 44

Schedule of Accrued Expenses (D

Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Jan. 01, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General accrued expenses	$ 3,850	$ 5,551
Accrued payroll and related taxes	5,427	4,515
Accrued publisher expenses	4,765	7,596
Accrued interest	5,635	3,824	$ 13,852
Liabilities in connection with acquisitions and dispositions	740	1,119
Assumed lease liability	1,379	1,328
Lease termination liability	4,518	4,481
Other accrued expenses	474	489
Total accrued expenses and other	$ 26,788	$ 28,903

Balance Sheet Components (Detai

Balance Sheet Components (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Impairment Effects on Earnings Per Share [Line Items]
Accounts receivable, net	$ 26,452		$ 31,676
Employee retention credits		$ 6,868
Retention Payable	2,468		$ 2,468
Depreciation expense	67	114
Amortization expense of intangible asset	4,870	7,021
Amortization expense of intangible asset acquisition	920	1,778
Developed Technology [Member]
Impairment Effects on Earnings Per Share [Line Items]
Amortization expense of intangible asset	0	796
Platform Development [Member]
Impairment Effects on Earnings Per Share [Line Items]
Amortization expense of intangible asset	1,549	1,573
Impairment charges	0	64
Property, Plant and Equipment [Member]
Impairment Effects on Earnings Per Share [Line Items]
Impairment charges for property and equipment	0	55
Finite-Lived Intangible Assets [Member]
Impairment Effects on Earnings Per Share [Line Items]
Impairment charges	$ 1,198	$ 0

Schedule of Supplemental Inform

Schedule of Supplemental Information Related to Operating Leases (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Leases
Operating lease costs during the year	[1]	$ 9	$ 240
Cash payments included in the measurement of operating lease liabilities during the year		$ 121	$ 121
Weighted-average remaining lease term (in years) as of year-end		6 months	1 year 6 months 3 days
Weighted-average discount rate during the year		9.90%	9.90%
[1]Operating lease costs is presented net of sublease income that is not material.

Schedule of Operating Lease Cos

Schedule of Operating Lease Costs (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Total operating lease costs	[1]	$ 134	$ 295
Sublease income		(125)	(55)
Total operating lease costs	[2]	9	240
General and Administrative Expense [Member]
Total operating lease costs		$ 134	$ 295
[1]Includes certain costs associated with a business membership agreement (see below) that permits access to certain office space for the three months ended March 31, 2024 and 2023 of $ 0 155 0 76

Schedule of Operating Lease C_2

Schedule of Operating Lease Costs (Details) (Parenthetical) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Operating lease cost	[1]	$ 134	$ 295
Business Membership Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Operating lease cost		0	155
Month To Month Lease Arrangement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Operating lease cost		$ 0	$ 76
[1]Includes certain costs associated with a business membership agreement (see below) that permits access to certain office space for the three months ended March 31, 2024 and 2023 of $ 0 155 0 76

Summary of Maturity of Lease Li

Summary of Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Leases
2024 (remaining nine months of the year)	$ 249
Minimum lease payments	249
Less imputed interest	(7)
Present value of operating lease liability	242
Current portion of operating lease liability	$ 242	$ 358

Leases (Details Narrative)

Leases (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Operating lease, remaining fixed payment term	6 months
Sublease income	$ 125	$ 55
Cash payments	249
Lease termination liability	4,518		$ 4,481
October One Two Thousand And Twenty Four [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Cash payments	$ 4,000
Imputed interest recognized	10%
Advertising expense	$ 676
Sublease Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Sublease income	$ 423	$ 265

Schedule of Changes in Carrying

Schedule of Changes in Carrying Value of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Carrying value at beginning of year	$ 42,575	$ 39,344
Carrying value at end of period	42,575	42,575
Mens Journal [Member]
Restructuring Cost and Reserve [Line Items]
Goodwill acquired in acquisition of Fexy Studios		1,246
Fexy Studios [Member]
Restructuring Cost and Reserve [Line Items]
Goodwill acquired in acquisition of Fexy Studios		$ 1,985

Line of Credit (Details Narrati

Line of Credit (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Line of credit	$ 1,715,000
Line of credit		19,609,000
Financing And Security Agreement [Member] | SLR Digital Finance LLC [Member]
Debt Instrument [Line Items]
Line of credit		$ 19,609
SLR Digital Finance LLC [Member]
Debt Instrument [Line Items]
Termination loans	3,448,000
Line of credit	$ 1,715,000
SLR Digital Finance LLC [Member] | Financing And Security Agreement [Member]
Debt Instrument [Line Items]
Line of credit facility interest rate description	(ii)
SLR Digital Finance LLC [Member] | Financing And Security Agreement [Member] | Maximum [Member]
Debt Instrument [Line Items]
Line of credit	$ 40,000,000

Summary of Liquidated Damages (

Summary of Liquidated Damages (Details) - USD ($) $ in Thousands		Mar. 31, 2024	Dec. 31, 2023
Registration Rights Damages		$ 898	$ 898
Public Information Failure Damages		940	940
Accrued Interest		1,162	1,086
Balance		3,000	2,924
MDB Common Stock To Be Issued [Member]
Registration Rights Damages	[1]	15	15
Public Information Failure Damages	[1]
Accrued Interest	[1]
Balance	[1]	15	15
Series H Convertible Preferred Stock [Member]
Registration Rights Damages		565	565
Public Information Failure Damages		574	574
Accrued Interest		694	659
Balance		1,833	1,798
Convertible Debentures [Member]
Registration Rights Damages
Public Information Failure Damages		144	144
Accrued Interest		76	72
Balance		220	216
Series J Convertible Preferred Stock [Member]
Registration Rights Damages		152	152
Public Information Failure Damages		152	152
Accrued Interest		137	129
Balance		441	433
Series K Convertible Preferred Stock [Member]
Registration Rights Damages		166	166
Public Information Failure Damages		70	70
Accrued Interest		255	226
Balance		$ 491	$ 462
[1]Consists of shares of common stock issuable to MDB Capital Group, LLC (“MDB”).

Liquidated Damages Payable (Det

Liquidated Damages Payable (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands					3 Months Ended
	Mar. 21, 2024	Feb. 09, 2024	Feb. 10, 2023	Feb. 08, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Short-term liquidated damages					$ 3,000		$ 2,924
Liquidated damages payable accrued interest percentage					1%
Liquidated damages outstanding amount					$ 3,000		$ 2,924
Percentage of aggregate amount invested					6%
Stock issued during period shares new issues		5,000,000
Liquidated damages	$ 20,000
Liquidated damages						$ 46
Additional Paid-in Capital [Member]
Liquidated damages						46
Stock Purchase Agreement [Member]
Stock issued during period shares new issues		60,000
Stock Purchase Agreement [Member] | Investor [Member]
Stock issued during period shares new issues			35,486	47,252
Shares Issued, Price Per Share				$ 10.56
Liquidated damages				$ 499
Number of shares issued, value						324
Liquidated damages						46
Stock Purchase Agreement [Member] | Investor [Member] | Additional Paid-in Capital [Member]
Liquidated damages						$ 370

Schedule of Fair Value of Finan

Schedule of Fair Value of Financial Instruments (Details) - Contingent Consideration [Member] $ in Thousands	Mar. 31, 2024 USD ($)
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Long term debt fair value	$ 1,571
Fair Value, Inputs, Level 1 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Long term debt fair value
Fair Value, Inputs, Level 2 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Long term debt fair value	1,571
Fair Value, Inputs, Level 3 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Long term debt fair value

Fair Value (Details Narrative)

Fair Value (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended				3 Months Ended		12 Months Ended
	Feb. 15, 2024	May 31, 2024	Apr. 30, 2024	Mar. 31, 2024	Feb. 29, 2024	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Feb. 09, 2024
Restructuring Cost and Reserve [Line Items]
Issuance of acquisition share, value						$ (479)	$ (1,423)
Trading price, per share								$ 2.38	$ 5
Change in valuation of contingent consideration						313	499
Put Option [Member]
Restructuring Cost and Reserve [Line Items]
Exercise price								8.10
Trading price, per share								$ 5.72
Put Option [Member] | Fexy Studios Acquistion [Member]
Restructuring Cost and Reserve [Line Items]
Issuance of common stock in connection with acquisitions, shares								274,692
Common Stock [Member]
Restructuring Cost and Reserve [Line Items]
Issuance of acquisition share, value						$ (3)	$ (2)
Issuance of common stock in connection with acquisitions, shares							274,692
Flexy Studios [Member]
Restructuring Cost and Reserve [Line Items]
Preceding acquistion price per share				$ 8.10		$ 8.10
Fexy Studios [Member]
Restructuring Cost and Reserve [Line Items]
Business Combination, Consideration Transferred	$ 2,478
Equal installments paid	$ 620			$ 620	$ 620
Flexy put option description	(i) $2,225 pursuant to the Fexy Put Option where the Company gave the recipients of the contingent consideration a right to put their 274,692 shares of the Company’s common stock; (ii) $200 deferred payment due under the purchase agreement; and (iii) $53 in other costs and reimbursable transition expenses payable.
Accounts Payable				$ 1,238		$ 1,238
Fexy Studios [Member] | Common Stock [Member]
Restructuring Cost and Reserve [Line Items]
Issuance of acquisition shares						274,692
Issuance of acquisition share, value						$ 379
Fexy Studios [Member] | Subsequent Event [Member]
Restructuring Cost and Reserve [Line Items]
Equal installments paid		$ 620	$ 620

Simplify Loan (Details Narrativ

Simplify Loan (Details Narrative) - USD ($) $ in Thousands	Mar. 13, 2024	Mar. 31, 2024	Dec. 31, 2023
Working capital	$ 25,000
Company borrowed	7,748	$ 102,342	$ 102,309
Outstanding loan balance	$ 3,448
Simplyfy Loan [Member]
Company borrowed		$ 7,748
Working Capital Loan Agreement [Member]
Applicable interest rate	5%
Simplyfy Loan [Member]
Interest rate	10%

Bridge Notes (Details Narrative

Bridge Notes (Details Narrative) - USD ($) $ in Thousands			3 Months Ended
	Sep. 29, 2023	Aug. 31, 2023	Mar. 31, 2024	Dec. 31, 2023	Nov. 27, 2023
Short-Term Debt [Line Items]
Balance outstanding			$ 102,691	$ 102,691
Principal balance			102,691
2023 Notes [Member]
Short-Term Debt [Line Items]
Balance outstanding		$ 5,000			$ 2,000
Incremental borrowings		3,000
Senior secured notes principal	$ 1,000	$ 1,000
Debt instrument interest rate effective percentage		10%
Prepayment fees on advances, net		$ 8,000
Principal amount prepay due percentage		100%
Bridge Notes [Member]
Short-Term Debt [Line Items]
Balance outstanding			$ 8,000
Debt maturity term		Apr. 30, 2024
Debt Instrument, Interest Rate, Stated Percentage			14.20%
Balance outstanding			$ 7,972
Principal balance			8,000
Unamortized debt costs			$ 28

Schedule of long term debt (Det

Schedule of long term debt (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Short-Term Debt [Line Items]
Principal balance	$ 102,691	$ 102,691
Unamortized discount and debt issuance costs	(349)	(382)
Carrying value	102,342	102,309
Senior Secured Note [Member]
Short-Term Debt [Line Items]
Principal balance	62,691	62,691
Unamortized discount and debt issuance costs	(249)	(272)
Carrying value	62,442	62,419
Delayed Draw Term Notes [Member]
Short-Term Debt [Line Items]
Principal balance	4,000	4,000
Unamortized discount and debt issuance costs	(28)	(31)
Carrying value	3,972	3,969
2022 Bridge Notes [Member]
Short-Term Debt [Line Items]
Principal balance	36,000	36,000
Unamortized discount and debt issuance costs	(72)	(79)
Carrying value	$ 35,928	$ 35,921

Schedule of Long Term Debt (D_2

Schedule of Long Term Debt (Details) (Parenthetical)	Mar. 31, 2024	Dec. 31, 2023
Delayed Draw Term Notes [Member]
Short-Term Debt [Line Items]
Debt instrument interest rate, percentage	10.20%	10.20%
2022 Bridge Notes [Member]
Short-Term Debt [Line Items]
Debt instrument interest rate, percentage	10.20%	10.20%
Senior Secured Note [Member]
Short-Term Debt [Line Items]
Debt instrument interest rate, percentage	10.10%	10.10%

Summary of Interest Expense (De

Summary of Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Short-Term Debt [Line Items]
Total amortization of debt costs	$ 536	$ 930
Total noncash and accrued interest	2,839
Total cash paid interest	964	3,252
Total interest expense	4,339	4,182
Line of Credit [Member]
Short-Term Debt [Line Items]
Total amortization of debt costs	418	54
Total cash paid interest	795	438
2022 Bridge Notes [Member]
Short-Term Debt [Line Items]
Total amortization of debt costs	7	628
Total noncash and accrued interest	910
Total cash paid interest		1,127
Senior Secured Notes [Member]
Short-Term Debt [Line Items]
Total amortization of debt costs	23	223
Total noncash and accrued interest	1,585
Total cash paid interest		1,567
Delayed Draw Term Notes [Member]
Short-Term Debt [Line Items]
Total amortization of debt costs	3	25
Total noncash and accrued interest	101
Total cash paid interest		100
2023 Bridge Notes [Member]
Short-Term Debt [Line Items]
Total amortization of debt costs	85
Simplify Loan [Member]
Short-Term Debt [Line Items]
Total noncash and accrued interest	41
2023 Notes [Member]
Short-Term Debt [Line Items]
Total noncash and accrued interest	202
Other [Member]
Short-Term Debt [Line Items]
Total cash paid interest	$ 169	$ 20

Debt (Details Narrative)

Debt (Details Narrative) - USD ($) $ in Thousands				3 Months Ended
	Jul. 01, 2023	May 01, 2023	Mar. 01, 2023	Mar. 31, 2024	Mar. 13, 2024	Dec. 31, 2023	Dec. 15, 2022	Jan. 01, 2022
Short-Term Debt [Line Items]
Interest payable				$ 5,635		$ 3,824		$ 13,852
current maturities of debt				102,342	$ 7,748	$ 102,309
Principal balance				$ 102,691
Delayed Draw Term Notes [Member] | Purchase Agreement [Member]
Short-Term Debt [Line Items]
Debt maturity date				Dec. 31, 2026
Debt due rate				10%
SLR Digital Finance LLC [Member]
Short-Term Debt [Line Items]
Principal amount of debt				$ 36,000
Senior Secured Note [Member]
Short-Term Debt [Line Items]
Debt instrument interest rate				10%
Debt maturity date				Dec. 31, 2026
Debt due rate				10.10%		10.10%
2022 Bridge Notes [Member]
Short-Term Debt [Line Items]
Debt maturity date				Dec. 31, 2026
Debt due rate				12%
Debt fixed rate							10%
Debt interest rate	1.50%	1.50%	1.50%
Principal amount of debt				$ 20,000
Repayment of debt				$ 20,000

Preferred Stock (Details Narrat

Preferred Stock (Details Narrative) - $ / shares	Mar. 31, 2024	Feb. 09, 2024
Class of Stock [Line Items]
Preferred stock, shares authorized	1,000,000
Preferred stock, par value	$ 0.01	$ 0.0001
Series G Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, designated shares	1,800
Shares outstanding	168
Series H Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, designated shares	23,000
Shares outstanding	0

Stockholders_ Deficiency (Detai

Stockholders’ Deficiency (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands					3 Months Ended
	Feb. 14, 2024	Feb. 09, 2024	Mar. 31, 2023	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Subsidiary, Sale of Stock [Line Items]
Common stock authorized					1,000,000,000		1,000,000,000
Common stock par value					$ 0.01		$ 0.01
Stock Issued During Period, Shares, New Issues		5,000,000
Share Price		$ 5					$ 2.38
Net proceeds from common stock					$ 12,000
Offering costs						$ 69
Common Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Stock Issued During Period, Shares, New Issues					5,555,555
Vesting of restricted stock units					678,165	397,376
Common Stock [Member] | Restricted Stock Units (RSUs) [Member]
Subsidiary, Sale of Stock [Line Items]
Vesting of restricted stock units					678,165	397,376
Stock Purchase Agreements [Member]
Subsidiary, Sale of Stock [Line Items]
Net proceeds from common stock			$ 11,211	$ 1,232
Offering costs			289
Stock Purchase Agreements [Member] | Purchasers [Member]
Subsidiary, Sale of Stock [Line Items]
Net proceeds from common stock			$ 11,500
Sale of stock number of shares issued in transaction			2,963,918	317,518
Sale of stock price per share			$ 3.88	$ 3.88		$ 3.88
Private Placement [Member] | Subscription Agreement [Member]
Subsidiary, Sale of Stock [Line Items]
Share Price	$ 2.16
Net proceeds from common stock	$ 12,000
Private Placement [Member] | Subscription Agreement [Member] | Common Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	5,555,555

Summary of Stock-based Compensa

Summary of Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Cost of revenue	$ 20,008	$ 18,090
Selling and marketing	4,564	5,847
General and administrative	10,135	12,975
Total costs charged to operations	16,884	20,037
Total stock-based compensation	1,451	6,427
Stock Based Compensation [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Cost of revenue	385	1,983
Selling and marketing	109	368
General and administrative	419	3,886
Total costs charged to operations	913	6,237
Capitalized platform development	208	307
Total stock-based compensation	1,121	6,544
Restricted Stock [Member] | Stock Based Compensation [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Cost of revenue	35	794
Selling and marketing	2	65
General and administrative	190	2,352
Total costs charged to operations	227	3,211
Capitalized platform development
Total stock-based compensation	227	3,211
Common Stock Awards [Member] | Stock Based Compensation [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Cost of revenue	347	1,189
Selling and marketing	107	303
General and administrative	229	1,288
Total costs charged to operations	683	2,780
Capitalized platform development	208	307
Total stock-based compensation	891	3,087
Warrant [Member] | Stock Based Compensation [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Cost of revenue	3
Selling and marketing
General and administrative		246
Total costs charged to operations	3	246
Capitalized platform development
Total stock-based compensation	$ 3	$ 246

Schedule of Unrecognized Compen

Schedule of Unrecognized Compensation Expense (Details) - Stock Based Compensation [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense	$ 3,014
Weighted average period expected to be recognized (in years)	1 year 5 months 12 days
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense	$ 1,052
Weighted average period expected to be recognized (in years)	1 year 6 months 18 days
Common Stock Awards [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense	$ 1,939
Weighted average period expected to be recognized (in years)	1 year 4 months 20 days
Warrant [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense	$ 23
Weighted average period expected to be recognized (in years)	1 year 9 months 7 days

Compensation Plans (Details Nar

Compensation Plans (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Jan. 02, 2024	Feb. 28, 2023	Mar. 31, 2024	Feb. 09, 2024	Dec. 31, 2023	Mar. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share Price				$ 5	$ 2.38
Other Accrued Liabilities, Current			$ 474		$ 489
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Accelerated Vesting, Number		38,026
Common Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Accelerated Vesting, Number		21,117
Number of shares, agreed to purchase		45,632
Share Price		$ 10.29
Shares Issued, Price Per Share		$ 8.82
Share-Based Payment Arrangement, Plan Modification, Incremental Cost		$ 68
Other Accrued Liabilities, Current						$ 68
ABG Warrants [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Performance based warrant vested	599,724
ABG Warrants [Member] | Licensing Agreement [Member] | Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, warrants vested	449,793
Exercise price per share	$ 9.24
ABG Warrants [Member] | Licensing Agreement [Member] | Share-Based Payment Arrangement, Tranche Two [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, warrants vested	149,931
Exercise price per share	$ 18.48
Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Performance based warrant vested		24,515

Schedule of Disaggregation of R

Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 28,941	$ 28,418
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Total revenue	26,607	24,757
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Total revenue	2,334	3,661
UNITED STATES
Disaggregation of Revenue [Line Items]
Total revenue	27,411	27,319
Other [Member]
Disaggregation of Revenue [Line Items]
Total revenue	1,530	1,099
Digital Advertising [Member]
Disaggregation of Revenue [Line Items]
Total revenue	22,748	19,093
Digital Subscriptions [Member]
Disaggregation of Revenue [Line Items]
Total revenue	2,334	3,661
Licensing And Syndication Revenue [Member]
Disaggregation of Revenue [Line Items]
Total revenue	2,300	3,351
Product and Service, Other [Member]
Disaggregation of Revenue [Line Items]
Total revenue	1,286	551
Digital Revenue [Member]
Disaggregation of Revenue [Line Items]
Total revenue	28,668	26,656
Print Advertising [Member]
Disaggregation of Revenue [Line Items]
Total revenue		656
Print Subscriptions [Member]
Disaggregation of Revenue [Line Items]
Total revenue	273	1,106
Print Revenue [Member]
Disaggregation of Revenue [Line Items]
Total revenue	$ 273	$ 1,762

Schedule of Contract with Custo

Schedule of Contract with Customer, Asset and Liability (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Total short-term contract liabilities	$ 12,370	$ 16,938
Total long-term contract liabilities	624	542
Digital Revenue [Member]
Disaggregation of Revenue [Line Items]
Total short-term contract liabilities	12,370	16,938
Total long-term contract liabilities	$ 624	$ 542

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income tax provision effective tax rate	0.32%	0.04%
Income tax penalties and interest accrued	$ 0	$ 0

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended
	Feb. 09, 2024	Mar. 31, 2023	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Mar. 13, 2024	Jan. 05, 2024	Dec. 31, 2023
Principal balance				$ 102,691
Issuance of common stock in connection with private placement, shares	5,000,000
Preffered stock, par value	$ 0.0001			$ 0.01
Purchase price	$ 5							$ 2.38
Note purchase agreement description				(1) the 2023 Notes until paid in full; (2) then to the 2022 Bridge Notes until paid in full; (3) then to the Delayed Draw Terms Notes until paid in full; and (4) then to the Senior Secured Notes. All borrowings under the Notes are collateralized by substantially all assets of the Company secured by liens and guaranteed by the Company’s subsidiaries. The Notes provide for a default interest rate equal to the rate of interest in effect at the time of default plus 4.0%, along with other provision for acceleration of the Notes under certain conditions. The Notes provided for certain affirmative covenants, including certain financial reporting obligations. On December 1, 2023, Renew purchased all of the notes held by B. Riley and assumed the role of agent under the Note Purchase Agreement, and also purchased all of the common stock held by B. Riley.
Value				$ 12,000
Fee incurred						$ 3,448
Proceeds from issuance of private placement				$ 12,000
B Riley [Member]
Principal balance					2,998
Fee incurred		$ 2,440	$ 2,440		$ 2,440
Common Stock [Member]
Issuance of common stock in connection with private placement, shares				5,555,555
Aggregate purchase price	$ 25,000
Value				$ 56
Private Placement [Member]
Shares outstanding percentage				54.30%
Direct Offering [Member] | B Riley [Member]
Sale of stock, price per share		$ 3.88	$ 3.88		$ 3.88
Direct Offering [Member] | Common Stock [Member] | B Riley [Member]
Issuance of common stock in connection with private placement, shares			1,009,021
Value			$ 3,915
Arena Loan Agreement [Member]
Outstanding principal				$ 110,691			$ 2,797
Incurred interest expense				2,798
Accrued expenses and other accrued interest				5,595
2023 Notes [Member]
Outstanding principal				$ 8,000
Transaction Agreement [Member]
Issuance of common stock in connection with private placement, shares	25,000
Preffered stock, par value	$ 0.0001
Purchase price	$ 1,000
Transaction Agreement [Member] | Preferred Stock [Member]
Aggregate purchase price	$ 25,000
Stock Purchase Agreement [Member]
Shares outstanding percentage	79%
Issuance of common stock in connection with private placement, shares	60,000
Purchase price	$ 3.86
Business combination, consideration amount	$ 20,000
Commitment fee percentage	1.50%
[custom:OutstandingPercentage-0]	6%
Stock Purchase Agreements [Member]
Proceeds from issuance of private placement		$ 11,211	$ 1,232
Stock Purchase Agreements [Member] | Allred Trust HHA [Member]
Issuance of common stock in connection with private placement, shares			32,000
Stock Purchase Agreements [Member] | Allred Trust NLA [Member]
Issuance of common stock in connection with private placement, shares			32,000
Stock Purchase Agreements [Member] | H Hunt Allred [Member]
Issuance of common stock in connection with private placement, shares			64,000
Value			$ 248
Stock Purchase Agreements [Member] | One Eighty Degree Capital Corp [Member]
Issuance of common stock in connection with private placement, shares			195,529
Value			$ 759
Stock Purchase Agreements [Member] | One Eighty Degree Capital Corp [Member] | Minimum [Member]
Former beneficial holder		5%	5%		5%
Stock Purchase Agreements [Member] | Daniel Shribman [Member]
Issuance of common stock in connection with private placement, shares			25,773
Stock Purchase Agreements [Member] | Ross Levinsohn [Member]
Issuance of common stock in connection with private placement, shares			25,773
Value			$ 100
Stock Purchase Agreements [Member] | Paul Edmonson [Member]
Issuance of common stock in connection with private placement, shares			6,443
Value			$ 25
Stock Purchase Agreements [Member] | Purchasers [Member]
Sale of stock, price per share		$ 3.88	$ 3.88		$ 3.88
Sale of stock, number of shares issued in transaction		2,963,918	317,518
Proceeds from issuance of private placement		$ 11,500
Per share		$ 3.88	$ 3.88		$ 3.88

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($)	Apr. 01, 2024	Mar. 21, 2024	Mar. 31, 2024
Subsequent Event [Line Items]
Loss contingency, seeking damages		$ 20,000,000
Royalty fee liability			$ 3,750,000
Termination fee liability			$ 45,000,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Loss contingency, seeking damages	$ 48,750

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)			1 Months Ended
	Apr. 01, 2024	Feb. 09, 2024	May 15, 2024	Apr. 11, 2024	Mar. 31, 2024
Subsequent Event [Line Items]
Minimum lease payments					$ 249,000
Stock Issued During Period, Shares, New Issues		5,000,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Lease expiration date	Nov. 29, 2030
Minimum lease payments	$ 4,019
Minimum rental payments				$ 652
Stock Issued During Period, Shares, New Issues			17,698