0001493152-24-023744 | S-4/A | XBRL Viewer

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 years.

The table below presents supplemental information related to the operating lease:

	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 and $155, respectively, and month-to-month lease arrangements for the three months ended March 31, 2024 and 2023 of $0 and $76, respectively.

Maturities of the operating lease liability as of March 31, 2024 are summarized as follows:


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 – The Company has entered into agreements to sublease certain space that it does not occupy, through the duration of the lease terms, with one sublease through September 2024 and two other subleases (these operating leases were recorded as an assumed lease liability in connection with the acquisition of Men’s Journal) through March 2025. As of March 31, 2024, the Company is entitled to receive total sublease income of $423 (of which $265 were recorded as an assumed liability).

Business Membership – Effective October 1, 2021, the Company entered into a business membership agreement with York Factory LLC, doing business as SaksWorks, that permits access to certain office space with furnishings, referred to as SaksWorks Memberships. This membership provides a certain number of accounts that equate to the use of the space granted. Effective June 1, 2022, the SaksWorks membership agreement was amended and assigned to Convene SW MSA Holdings, LLC (“Convene”). The initial term of the agreement with Convene was through December 31, 2023, with provisions for renewals. The Company terminated the arrangement effective December 31, 2023.

Lease Termination – Effective September 30, 2021, the Company terminated a certain lease arrangement for office space. In connection with the termination, the Company agreed to pay the landlord cash payments and credits for market rate advertising. As of March 31, 2024, the Company has a remaining cash payment of $4,000 due on October 1, 2024 (reflected net of imputed interest recognized at 10.0% per annum) and market advertising to be delivered of $676, presented as a lease termination liability of $4,518, as reflected in accrued expenses and other on the condensed consolidated balance sheets.

7. Leases

The Company’s real estate lease for the use of office space was subleased during the year ended December 31, 2023. The Company determines whether an arrangement contains a lease at inception. Lease assets and liabilities are recognized upon commencement of the lease based on the present value of the future minimum lease payments over the lease term. The lease term includes options to extend the lease when it is reasonably certain that the Company will exercise that option.

The Company’s current operating lease has a remaining fixed payment term of 0.75 years.

The table below presents supplemental information related to the operating lease:

	As of December 31,
	2023			2022
Operating lease costs during the year (1)	$	1,052		$	969
Cash payments included in the measurement of operating lease liability during the year		486			469
Weighted-average remaining lease term (in years) as of year-end		0.75			1.75
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.

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 follows:

Schedule of Operating Lease Costs

	2023			2022
	As of December 31,
	2023			2022
Operating lease costs:
General and administrative		1,344			1,187
Total operating costs (1)		1,344			1,187
Less sublease income		(292	)		(218	)
Variable lease cost
Total operating lease costs	$	1,052		$	969

(1)

Includes certain costs associated with a business membership agreement (see below) that permits access to certain office space for the years ended December 31, 2023 and 2022 of $620 and $668, respectively, and month-to-month lease arrangements for the years ended December 31, 2023 and 2022 of $396 and $320, respectively.

Maturities of the operating lease liability as of December 31, 2023 are summarized as follows:


2024 (remaining nine months of the year)
Year One
2025
2026
2027
2028
2028
Thereafter
Minimum lease payments - 2024	$	373
Less imputed interest		(15	)
Present value of operating lease liability	$	358
Current portion of operating lease liability	$	358
Long-term portion of operating lease liability		-
Total operating lease liability	$	358

Sublease Agreement – The Company has entered into agreements to sublease certain space that it does not occupy, through the duration of the lease terms, with one sublease through September 2024 and two other subleases through March 2024. As of December 31, 2023, the Company is entitled to receive total sublease income of $537.

Lease Termination – Effective September 30, 2021, the Company terminated a certain lease arrangement for office space. In connection with the termination, the Company agreed to pay the landlord cash of $10,000 (the “Cash Payments”) and $1,475 in market rate advertising. The Cash Payments were paid or remain due as follows: $1,000 paid in December 2021; $1,000 paid in October 2022; $4,000 paid in October 2023; and $4,000 due on October 1, 2024, with imputed interest recognized at 10.0% per annum, and the market advertising of $615 has been delivered during the year ended December 31, 2023, leaving $860 to be delivered as of December 31, 2023, with the current amount due, net of imputed interest, reflected in accrued expenses and other on the consolidated balance sheets.

Note 4 – Leases

The Company leases building space from three different lessors, one of which is a related party. The right of use asset balance totaled $751 thousand and $751 thousand as of March 31, 2024 and December 31, 2023, respectively. The lease liability had a total short term balance of $190 thousand and $163 thousand as of March 31, 2024 and December 31, 2023, respectively, and a long term balance of $568 thousand and $589 thousand as of March 31, 2024 and December 31, 2023, respectively.

The components of operating lease costs were as follows for the three months ended March 31:


($ in thousands)	2024		2023

Operating lease cost	$	52	$	5
Variable lease cost		8		-
Total lease cost	$	60	$	5

Operating lease and variable lease costs are recorded within the general and administrative expenses on the statement of operations. All operating and variable lease costs recorded during the three months ended March 31, 2024 and 2023 represent cash used in operating activities in the statements of cash flows. The weighted-average remaining lease term was 4.3 years and 4.7 years for the periods ended March 31, 2024 and December 31, 2023, respectively.

The future minimum lease payments are as follows:


($ in thousands)	Future Minimum Lease Payments
2024	$	185
Year one	$	185
2025		224
Year two		224
2026		189
Year three		189
2027		180
Year four		180
2028		150
Year five		150
Year six
Thereafter		-
Undiscounted Total		928
Minimum lease payments		928
Less imputed interest		(170	)
Lease liabilities:	$	758

Bridge Media Networks, LLC

Notes to Unaudited Financial Statements

Note 5 – Leases

The Company leases building space from three different lessors, one of which is a related party. The right of use asset balance totaled $752 thousand and $101 thousand as of December 31, 2023 and 2022, respectively. The lease liability had a total short term balance of $163 thousand and $16 thousand as of December 31, 2023 and 2022, respectively, and a long term balance of $589 thousand and $85 thousand as of December 31, 2023 and 2022, respectively.

The components of operating lease costs were as follows:


($ in thousands)	2023		2022

Operating lease cost	$	71	$	3
Variable lease cost		7		-
Total lease cost	$	78	$	3

Operating lease and variable lease costs are recorded within the general and administrative expenses on the statement of operations. All operating and variable lease costs recorded during the years ended December 31, 2023 and 2022 represent cash used in operating activities in the statements of cash flows. The weighted-average remaining lease term was 4.7 years and 2.0 years for the years ended December 31, 2023 and 2022, respectively.

The future minimum lease payments are as follows:


($ in thousands)	Future Minimum Lease Payments
2024	$	224
2025		192
2026		189
2027		180
2028		150
Thereafter		-
Undiscounted Total		935
Less imputed interest		(183	)
Lease liabilities:	$	752

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Debt

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

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 in Note 18), as of March 31, 2024 and December 31, 2023, the Company has notes outstanding referred to as the senior secured notes (the “Senior Secured Notes”), the delayed draw term notes (the “Delayed Draw Term Notes”) and the 2022 bridge notes (the “2022 Bridge Notes”), as further described below.

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 to the principal balance of the notes for interest payable prior to January 1, 2022 as payable in-kind;

	●	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% per annum, subject to adjustment in the event of default, with a provision that within one (1) business day after receipt of cash proceeds from any issuance of equity interests, unless waived, the Company will prepay certain obligations in an amount equal to such cash proceeds, net of underwriting discounts and commissions;

	●	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, as amended pursuant to the forbearance (as described below and in see Note 18), and subject to certain acceleration conditions; and

	●	the Company to enter into the 2022 Bridge Notes for $36,000 (as further described below).

Delayed Draw Term Notes

The terms of the Delayed Draw Term Notes provide for:

	●	an interest rate of 10.0% per annum, subject to adjustment in the event of default;

	●	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, as amended pursuant to the forbearance (as described below and in see Note 18), and subject to certain acceleration terms.

2022 Bridge Notes

The terms of the 2022 Bridge Notes provide for:

	●	an interest rate fixed at 10.0% per annum (as amended from interest that was payable in cash at an interest rate of 12% per annum quarterly; with interest rate increases of 1.5% per annum on March 1, 2023, May 1, 2023, and July 1, 2023, pursuant to the First Amendment);

	●	a maturity date of December 31, 2026, as amended pursuant to the forbearance (as described below and in see Note 18), and subject to certain mandatory prepayment requirements, including, but not limited to, a requirement that the Company apply the net proceeds from certain debt incurrences or equity offerings to repay the notes;

	●	a prepayment requirement to apply a portion of the net proceeds from the Business Combination to repay $20,000 of the principal balance under the notes, as amended pursuant to the forbearance (as described below and in see Note 18);

	●	a provision for the failure to repay the $20,000 prepayment requirement in full with the proceeds of the Business Combination or failure to consummate the Business Combination, as amended pursuant to the extended forbearance (as described below and in see Note 18), will result in an event of default under the notes; and

	●	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% as of March 31, 2024, as amended	$	62,691	$	(249	)	$	62,442	$	62,691	$	(272	)	$	62,419
Delayed Draw Term Notes, effective interest rate of 10.2% as of March 31, 2024, as amended		4,000		(28	)		3,972		4,000		(31	)		3,969
2022 Bridge Notes, effective interest rate of 10.2% as of March 31, 2024, as amended		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 and $102,309, respectively. As of March 31, 2024, the principal balance due of $102,691 remains subject to the forbearance (see Note 18).

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

19. Long-term Debt

Debt

Senior Secured Notes

Pursuant to the Note Purchase Agreement, as amended by the First Amendment and Second Amendment (as further described under the heading Principal Stockholders in Note 26), as of December 31, 2023 and 2022, the Company has notes outstanding referred to as the senior secured notes (the “Senior Secured Notes”), the delayed draw term notes (the “Delayed Draw Term Notes”) and the 2022 Bridge Notes, as further described below.

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 to the principal balance of the notes for interest payable prior to January 1, 2022 as payable in-kind;

	●	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% per annum, subject to adjustment in the event of default, with a provision that within one (1) business day after receipt of cash proceeds from any issuance of equity interests, unless waived, the Company will prepay certain obligations in an amount equal to such cash proceeds, net of underwriting discounts and commissions;

	●	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 (as amended from December 31, 2023 pursuant to the First Amendment), subject to consummation of the Business Combination (see Note 28) on or prior to April 30, 2024, as amended pursuant to the Second Amendment from December 31, 2023, which may result in an event of default if not consummated, and subject to certain acceleration conditions; and

	●	the Company to enter into the 2022 Bridge Notes for $36,000 and to increase the line of credit with SLR in an aggregate principal amount not to exceed $40,000.

Delayed Draw Term Notes

The terms of the Delayed Draw Term Notes provide for:

	●	an interest rate of 10.0% per annum, subject to adjustment in the event of default;

	●	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 (as amended from December 31, 2023 pursuant to the First Amendment), subject to consummation of the Business Combination on or prior to April 30, 2024, as amended pursuant to the Second Amendment from December 31, 2023, which may result in an event of default if not consummated, and subject to certain acceleration terms.

2022 Bridge Notes

Pursuant to the First Amendment, the 2022 Bridge Notes outstanding as of December 31, 2022 were amended and reclassified from a current liability to a noncurrent liability. In connection with the debt modification, the Company incurred debt issuance costs of $100 that are being amortized over the life of the 2022 Bridge Notes and a portion of the note maturity was extended as further described below.

The terms of the 2022 Bridge Notes provide for:

	●	an interest rate fixed at 10.0% per annum (as amended from interest that was payable in cash at an interest rate of 12% per annum quarterly; with interest rate increases of 1.5% per annum on March 1, 2023, May 1, 2023, and July 1, 2023, pursuant to the First Amendment);

	●	a maturity date of December 31, 2026 (as amended from December 31, 2023 pursuant to the First Amendment), subject to consummation of the Business Combination on or prior to April 30, 2024, as amended pursuant to the Second Amendment from December 31, 2023, which may result in an event of default if not consummated, and subject to certain mandatory prepayment requirements, including, but not limited to, a requirement that the Company apply the net proceeds from certain debt incurrences or equity offerings to repay the notes;

	●	a prepayment requirement to apply a portion of the net proceeds from the Business Combination to repay $20,000 of the principal balance under the notes upon the earlier of April 30, 2024, as amended pursuant to the Second Amendment from December 31, 2023 or the closing of the Business Combination;

	●	a provision for the failure to repay the $20,000 prepayment requirement in full with the proceeds of the Business Combination or failure to consummate the Business Combination by April 30, 2024, as amended pursuant to the Second Amendment from December 31, 2023, will result in an event of default under the notes; and

	●	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 December 31, 2023							As of December 31, 2022
	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 December 31, 2023, as amended, matures December 31, 2026, subject to acceleration	$	62,691	$	(272	)	$	62,419	$	62,691	$	(904	)	$	61,787
Senior Secured Notes, effective interest rate of 10.1% as of December 31, 2023, as amended	$	62,691	$	(272	)	$	62,419	$	62,691	$	(904	)	$	61,787
Delayed Draw Term Notes, effective interest rate of 10.2% as of December 31, 2023, as amended		4,000		(31	)		3,969		4,000		(103	)		3,897
2022 Bridge Notes, effective interest rate of 10.2% as of December 31, 2023, as amended		36,000		(79	)		35,921		-		-			-
Total	$	102,691	$	(382	)	$	102,309	$	66,691	$	(1,007	)	$	65,684

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) April 30, 2024; (b) the occurrence of the closing of the Business Combination and (c) the termination of the Business Combination prior to closing (or the forbearance) (further details are provided for under the heading Arena Loan Agreement in Note 28).

As of December 31, 2023, the current maturities of the debt were $102,309, with the principal balance due of $102,691, subject to the forbearance.

Information for the years ended December 31, 2023 and 2022 with respect to interest expense related to long-term debt is provided below.

Interest Expense

The following table represents interest expense:

Summary of Interest Expense

	2023			2022
	Years Ended December 31,
	2023			2022
Amortization of debt costs:
Line of credit	$	214		$	9
2023 Notes		244			-
Senior Secured Notes		632			1,031
Delayed Draw Term Notes		72			464
2022 Bridge Notes		1,216			77
Total amortization of debt costs		2,378			1,581
Noncash and accrued interest:
2023 Notes		173			-
Senior Secured Notes		1,602			-
Delayed Draw Term Notes		102			-
2022 Bridge Notes		920			-
Line of credit termination fee		900			-
Parade		-			116
Other accrued interest		127			204
Total noncash and accrued interest		3,824			320
Cash paid interest:
Line of credit		2,023			1,328
2023 Notes		44			-
Senior Secured Notes		4,754			6,356
Delayed Draw Term Notes		303			980
2022 Bridge Notes		3,763			-
Other		1,214			863
Total cash paid interest		12,101			9,527
Less interest income ⁽¹⁾		(338	)		-
Total interest expense	$	17,965		$	11,428

(1)

During the year ended December 31, 2023, the Company recorded interest income of $338 related to the refunds received from the employee retention credits.

Noncash and accrued interest of $204 as of December 31, 2022 related to the 2022 Bridge Notes, was paid in cash during the year ended December 31, 2023.

Property and Equipment (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Impairment Effects on Earnings Per Share [Line Items]
Depreciation expense	$ 67	$ 114	$ 352	$ 539
Bridge Media Networks L L C [Member]
Impairment Effects on Earnings Per Share [Line Items]
Depreciation expense	296	190	805
Property, Plant and Equipment [Member]
Impairment Effects on Earnings Per Share [Line Items]
Impairment, Long-Lived Asset, Held-for-Use	$ 0	$ 55	$ 55	$ 0

Summary of Warrant Activity (Details) - Common Stock Financing Warrant [Member]	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of Shares, outstanding, at beginning of year \| shares	107,956
Weighted Average Exercise Price, outstanding, at beginning of year \| $ / shares	$ 10.61
Weighted average remaining contractual term	6 months 29 days
Number of Shares, Expired \| shares	(107,956)
Weighted Average Exercise Price, Expired \| $ / shares	$ 10.61
Number of Shares, outstanding at end of year \| shares
Weighted Average Exercise Price, outstanding, at end of year \| $ / shares

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Restricted Stock Liabilities

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents	$ 4,003	$ 9,284	$ 13,871
Restricted cash			502
Related party accounts receivable, net	26,452	31,676	33,950
Subscription acquisition costs, current portion		29,706	25,931
Prepaid expenses and other	7,022	5,791	4,441
Current assets from discontinued operations	5,691	43,648
Total current assets	43,168	90,399	78,695
Property and equipment, net	261	328	735
Right of use assets	120	176	372
Platform development, net	8,095	8,723	10,330
Subscription acquisition costs, net of current portion		7,215	14,133
Acquired and other intangible assets, net	25,339	27,457	58,970
Other long-term assets	733	1,003	1,140
Goodwill	42,575	42,575	39,344
Noncurrent assets from discontinued operations		18,217
Total assets	120,291	188,878	203,719
Current Liabilities
Accounts payable	8,797	7,803	12,863
Accrued expenses and other liabilities	26,788	28,903	23,102
Related party revolving credit facility (Note 5)		19,609	14,092
Unearned revenue	12,370	16,938	58,703
Subscription refund liability	44	46	845
Current portion of lease liabilities (Note 4)	242	358	427
Contingent consideration		1,571
Liquidated damages payable	3,000	2,924	5,843
Simplify loan	7,748
Bridge notes	7,972	7,887	34,805
Debt	102,342	102,309	65,684
Current liabilities from discontinued operations	98,874	47,673
Total current liabilities	268,177	236,021	216,364
Long-Term Liabilities
Unearned revenue, net of current portion	624	542	19,701
Long term lease liabilities (Note 4)			358
Liquidating damages payable, net of current portion			494
Other long-term liabilities	244	406	5,307
Deferred tax liabilities	630	599	465
Noncurrent liabilities from discontinued operations		10,137
Total liabilities	269,675	247,705	242,689
Commitments and contingencies (Note 19)
Mezzanine equity:
Total mezzanine equity	168	168	13,176
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	182
Common stock to be issued
Additional paid-in capital	332,165	319,421	270,743
Accumulated equity	(482,011)	(378,653)	(323,071)
Total stockholders’ deficiency	(149,552)	(58,995)	(52,146)
Total liabilities, mezzanine equity and stockholders’ deficiency	120,291	188,878	203,719
Bridge Media Networks L L C [Member]
Current Assets
Cash and cash equivalents	173	47	18
Prepaid expenses and other	296	299	170
Total current assets	7,152	4,678	471
Property and equipment, net	9,566	9,128	3,716
Right of use assets	751	751	101
Goodwill	697	697	697
Trade name	303	303	303
Total assets	18,469	15,557	5,288
Current Liabilities
Accounts payable	388	194	398
Current portion of lease liabilities (Note 4)	190	163	16
Other accrued related party expenses	1,430	1,342
Total current liabilities	4,710	2,153	534
Long-Term Liabilities
Long term lease liabilities (Note 4)	568	589	85
Total long-term liabilities	568	589	85
Total liabilities	5,278	2,742	619
Stockholders’ deficiency:
Accumulated equity	13,191	12,815	4,669
Total stockholders’ deficiency	13,191	12,815	4,669
Total liabilities, mezzanine equity and stockholders’ deficiency	18,469	15,557	5,288
Bridge Media Networks L L C [Member] \| Nonrelated Party [Member]
Current Assets
Related party accounts receivable, net	375	350	283
Current Liabilities
Accrued expenses and other liabilities	52	454	120
Bridge Media Networks L L C [Member] \| Related Party [Member]
Current Assets
Related party accounts receivable, net	6,308	3,982
Property and equipment, net		369	3,700
Current Liabilities
Related party revolving credit facility (Note 5)	2,650	0
Series G Redeemable And Convertible Preferred Stock [Member]
Mezzanine equity:
Total mezzanine equity	$ 168	168	168
Series H Convertible Preferred Stock [Member]
Mezzanine equity:
Total mezzanine equity			$ 13,008
Previously Reported [Member]
Current Assets
Cash and cash equivalents		9,284
Restricted cash
Related party accounts receivable, net		44,811
Subscription acquisition costs, current portion		29,706
Prepaid expenses and other		6,598
Total current assets		90,399
Property and equipment, net		328
Right of use assets		176
Platform development, net		8,723
Subscription acquisition costs, net of current portion		7,215
Acquired and other intangible assets, net		38,459
Other long-term assets		1,003
Goodwill		42,575
Total assets		188,878
Current Liabilities
Accounts payable		10,357
Accrued expenses and other liabilities		30,771
Related party revolving credit facility (Note 5)		19,609
Unearned revenue		59,786
Subscription refund liability		449
Current portion of lease liabilities (Note 4)		358
Contingent consideration		1,571
Liquidated damages payable		2,924
Bridge notes		7,887
Debt		102,309
Total current liabilities		236,021
Long-Term Liabilities
Unearned revenue, net of current portion		10,679
Long term lease liabilities (Note 4)
Liquidating damages payable, net of current portion
Other long-term liabilities		406
Deferred tax liabilities		599
Total liabilities		247,705
Commitments and contingencies (Note 19)
Mezzanine equity:
Total mezzanine equity		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		237
Common stock to be issued
Additional paid-in capital		319,421
Accumulated equity		(378,653)
Total stockholders’ deficiency		(58,995)
Total liabilities, mezzanine equity and stockholders’ deficiency		188,878
Previously Reported [Member] \| Series G Redeemable And Convertible Preferred Stock [Member]
Mezzanine equity:
Total mezzanine equity		168
Previously Reported [Member] \| Series H Convertible Preferred Stock [Member]
Mezzanine equity:
Total mezzanine equity

Restricted Stock Liabilities

12 Months Ended

Dec. 31, 2023

Restricted Stock Liabilities

12. Restricted Stock Liabilities

The Company recorded the repurchase of 26,214 shares of the Company’s restricted common stock during the year ended December 31, 2022 on the consolidated statement of stockholders’ deficiency. Effective April 4, 2022, there are no longer any shares of the Company’s common stock subject to repurchase. During the year ended December 31, 2022, the Company paid $2,307 in cash for the repurchase ($2,152 in principal and $155 in interest).

Schedule of Depreciation and Amortization, Useful Lives of Assets (Details)	Dec. 31, 2023
Office Equipment And Computers [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	1 year
Office Equipment And Computers [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Furniture and Fixtures [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	1 year
Furniture and Fixtures [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years

Summary of Interest Expense (Details) (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
B Riley [Member]
Interest Income (Expense), Operating	$ 338

Schedule of Tax Benefit and Effective Income Tax (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Federal benefit expected at statutory rate			$ (11,626)	$ (14,375)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21.00%	21.00%
State and local taxes, net of federal benefit			$ (2,526)	$ (3,429)
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent			4.60%	5.00%
Stock-based compensation			$ 3,472	$ 3,894
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-Based Payment Arrangement, Percent			(6.30%)	(5.70%)
Unearned revenue			$ (562)	$ (696)
Unearned revenue percentage			1.00%	1.00%
Interest expense			$ 62	$ 56
Interest expense percentage			(0.10%)	(0.10%)
Gain upon debt extinguishment				$ (760)
Gain upon debt extinguishment, percentage			0.00%	0.00%
Other differences, net			$ 678	$ (997)
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent			(1.20%)	1.60%
Valuation allowance			$ 10,961	$ 14,959
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent			(19.80%)	(21.90%)
Other permanent differences			$ (237)	$ 285
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent			0.40%	(0.40%)
Income tax benefit and effective income tax rate	$ 41	$ 7	$ 222	$ (1,063)
Effective Income Tax Rate Reconciliation, Percent, Total	0.32%	0.04%	(0.40%)	1.60%

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 – The Company receives payments from advertising customers based upon contractual payment terms; accounts receivable is recorded when the right to consideration becomes unconditional and are generally collected within 90 days. The Company generally receives payments from digital and print subscription customers at the time of sign up for each subscription; accounts receivable from merchant credit card processors are recorded when the right to consideration becomes unconditional and are generally collected weekly. Accounts receivable have been reduced by an allowance for doubtful accounts. The Company maintains the allowance for estimated losses resulting from the inability of the Company’s customers to make required payments. The allowance represents the current estimate of lifetime expected credit losses over the remaining duration of existing accounts receivable considering current market conditions and supportable forecasts when appropriate. The estimate is a result of the Company’s ongoing evaluation of collectability, customer creditworthiness, historical levels of credit losses, and future expectations. Accounts receivable are written off when deemed uncollectible and collection of the receivable is no longer being actively pursued. Accounts receivable as of March 31, 2024 and December 31, 2023 of $26,452 and $31,676, respectively, are presented net of allowance for doubtful accounts.

The following table summarizes the allowance for doubtful accounts activity:

	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 – Prepayments and other current assets are summarized as follows:

	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, in operating expenses on the condensed consolidated statements of operations. As of March 31, 2024 and December 31, 2023, the Company has a receivable balance of $2,468 as presented in the above table in prepaid expenses and other current assets on the condensed consolidated balance sheets.

Property and Equipment – Property and equipment are summarized as follows:

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 and $114, respectively. Impairment charges for the three months ended March 31, 2024 and 2023 of $0 and $55, respectively, were recorded for property and equipment on the condensed consolidated statements of operations.

Platform Development – Platform development costs are summarized as follows:

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:

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 and $1,573, respectively. Amortization expense for platform development is included in cost of revenue on the condensed consolidated statements of operations. Impairment charges for the three months ended March 31, 2024 and 2023 of $0 and $64, respectively, were recorded for platform development on the condensed consolidated statements of operations.

Intangible Assets – Intangible assets subject to amortization consisted of the following:

	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 and $1,778, respectively, of which amortization expense for developed technology of $0 and $796, respectively, is included in cost of revenues on the condensed consolidated statements of operations. Impairment charges of $1,198 and $0 from continuing operations for the three months ended March 31, 2024 and 2023, respectively, were recorded for the intangible assets on the condensed consolidated statements of operations.

Accrued Expenses and Other – Accrued expenses and other are summarized as follows:

	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

Other Long-term Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Other Long-term Liabilities

Schedule of Other Long- Term Liabilities

Other long-term liabilities consisted of the following:

	2023		2022
	As of December 31,
	2023		2022
Lease termination liability	$	-	$	3,621
Assumed lease liability		350		1,486
Other		56		200
Total other long-term liabilities	$	406	$	5,307

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Cost, Amortization	$ 1,549	$ 2,369	$ 8,782	$ 9,459

Schedule of Restricted Stock Units Activity (Details)	12 Months Ended
Schedule of Restricted Stock Units Activity (Details)	Dec. 31, 2023 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted Average Exercise Price, outstanding, at beginning of year \| $ / shares
Weighted Average Exercise Price, outstanding, at end of year \| $ / shares	$ 13.55
Restricted Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Shares, Unvested, outstanding, at beginning of year	994,766
Number of Shares, Vested, outstanding, at beginning of year	397,376
Weighted Average Exercise Price, outstanding, at beginning of year \| $ / shares	$ 15.44
Number of Shares, Unvested granted	148,970
Weighted Average Exercise Price,Granted \| $ / shares	$ 5.77
Number of Shares, Unvested, Vested	(645,023)
Number of Shares, Vested	645,023
Number of Shares, Vested, Released	(429,528)
Number of Shares, Unvested, Cancelled	(299,446)
Number of Shares, Unvested, outstanding at end of year	199,267
Number of Shares, Vested, outstanding, at end of year	612,871

Summary of Stock Option Activity (Details) (Parenthetical) - shares					12 Months Ended
	Jun. 30, 2023	Feb. 28, 2023	Nov. 22, 2022	Mar. 18, 2022	Dec. 31, 2023	Jun. 02, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross	42,635	38,026	232,816	4,343,017
2022 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized					1,800,000	1,800,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Net of Forfeitures					1,066,597
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross					287,993
2022 Plan [Member] \| 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, Options, Grants in Period, Gross					190,556

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Leases (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Schedule of Supplemental Information Related to Operating Leases

The table below presents supplemental information related to the operating lease:

	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 table below presents supplemental information related to the operating lease:

	As of December 31,
	2023			2022
Operating lease costs during the year (1)	$	1,052		$	969
Cash payments included in the measurement of operating lease liability during the year		486			469
Weighted-average remaining lease term (in years) as of year-end		0.75			1.75
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 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)

The components of operating lease costs were follows:

Schedule of Operating Lease Costs

	2023			2022
	As of December 31,
	2023			2022
Operating lease costs:
General and administrative		1,344			1,187
Total operating costs (1)		1,344			1,187
Less sublease income		(292	)		(218	)
Variable lease cost
Total operating lease costs	$	1,052		$	969

(1)

Schedule of Future Minimum Lease Payments

Maturities of the operating lease liability as of March 31, 2024 are summarized as follows:


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

Maturities of the operating lease liability as of December 31, 2023 are summarized as follows:


2024 (remaining nine months of the year)
Year One
2025
2026
2027
2028
2028
Thereafter
Minimum lease payments - 2024	$	373
Less imputed interest		(15	)
Present value of operating lease liability	$	358
Current portion of operating lease liability	$	358
Long-term portion of operating lease liability		-
Total operating lease liability	$	358

Sublease Agreement – The Company has entered into agreements to sublease certain space that it does not occupy, through the duration of the lease terms, with one sublease through September 2024 and two other subleases through March 2024. As of December 31, 2023, the Company is entitled to receive total sublease income of $537.

Lease Termination – Effective September 30, 2021, the Company terminated a certain lease arrangement for office space. In connection with the termination, the Company agreed to pay the landlord cash of $10,000 (the “Cash Payments”) and $1,475 in market rate advertising. The Cash Payments were paid or remain due as follows: $1,000 paid in December 2021; $1,000 paid in October 2022; $4,000 paid in October 2023; and $4,000 due on October 1, 2024, with imputed interest recognized at 10.0% per annum, and the market advertising of $615 has been delivered during the year ended December 31, 2023, leaving $860 to be delivered as of December 31, 2023, with the current amount due, net of imputed interest, reflected in accrued expenses and other on the consolidated balance sheets.

Schedule of Operating Lease Costs

The components of operating lease costs were as follows for the three months ended March 31:


($ in thousands)	2024		2023

Operating lease cost	$	52	$	5
Variable lease cost		8		-
Total lease cost	$	60	$	5

The components of operating lease costs were as follows:


($ in thousands)	2023		2022

Operating lease cost	$	71	$	3
Variable lease cost		7		-
Total lease cost	$	78	$	3

Schedule of Future Minimum Lease Payments

The future minimum lease payments are as follows:


($ in thousands)	Future Minimum Lease Payments
2024	$	185
Year one	$	185
2025		224
Year two		224
2026		189
Year three		189
2027		180
Year four		180
2028		150
Year five		150
Year six
Thereafter		-
Undiscounted Total		928
Minimum lease payments		928
Less imputed interest		(170	)
Lease liabilities:	$	758

The future minimum lease payments are as follows:


($ in thousands)	Future Minimum Lease Payments
2024	$	224
2025		192
2026		189
2027		180
2028		150
Thereafter		-
Undiscounted Total		935
Less imputed interest		(183	)
Lease liabilities:	$	752

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Commitments and Contingencies Disclosure [Abstract]

Summary of Platform Development Cost Activity (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total capitalized payroll-based costs			$ 38,112	$ 37,190
Stock-based compensation	$ 1,451	$ 6,427		31,345
Platform Development [Member]
Property, Plant and Equipment [Line Items]
Platform development beginning of year	26,054	21,493	21,493	21,997
Payroll-based costs capitalized	713		3,773	5,179
Less dispositions			(164)	(7,357)
Total capitalized payroll-based costs	26,767		25,102	19,819
Stock-based compensation	208		1,016	1,884
Impairments	0	$ (64)	(64)	(210)
Platform development end of year	$ 26,975		$ 26,054	$ 21,493

Commitments and Contingencies

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Commitments and Contingencies

19. Commitments and Contingencies

Legal Contingencies

Claims and Litigation – From time to time, the Company may be subject to claims and litigation arising in the ordinary course of business. The outcome of any litigation is inherently uncertain. Based on the Company’s current knowledge it believes that the final outcome of the matters discussed below will not likely, individually or in the aggregate, have a material adverse effect on its business, financial position, results of operations or cash flows; however, in light of the uncertainties involved in such matters, there can be no assurance that the outcome of each case or the costs of litigation, regardless of outcome, will not have a material adverse effect on the Company’s business.

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. 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 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 royalty fee liability and $45,000 termination fee liability as reflected in liabilities from discontinued operations), see Note 2 and Note 20.

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.

27. Commitments and Contingencies

Claims and Litigation – From time to time, the Company may be subject to claims and litigation arising in the ordinary course of business. The Company is not currently a party to any pending or threatened legal proceedings that it believes would reasonably be expected to have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows. Further information is provided under the heading Legal Contingencies in Note 28.

In connection with the Athlon working capital adjustment (as previously disclosed in Note 4), the Company prepared the working capital adjustment. 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 consolidated financial statements.

Royalty Fees – The Company guaranteed minimum annual royalties of $15,000 to ABG. The initial term of the minimum guarantee will expire December 31, 2029. Further details are provided under the heading Sports Illustrated Licensing Termination Rights in Note 28.

Other Long-Term Assets

12 Months Ended

Dec. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Long-Term Assets

10. Other Long-Term Assets

Other assets are summarized as follows:

Summary of Other Assets

	2023		2022
	As of December 31,
	2023		2022
Security deposit	$	420	$	420
Other receivables		90		-
Prepaid insurance		284		504
Unamortized debt cost		209		216
Total other assets	$	1,003	$	1,140

Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total cost	$ 1,910	$ 1,910	$ 1,984
Accumulated depreciation	(1,649)	(1,582)	(1,249)
Property and equipment, net	261	328	735
Bridge Media Networks L L C [Member]
Property, Plant and Equipment [Line Items]
Total cost	10,874	10,140	4,016
Accumulated depreciation	(1,308)	(1,012)	(300)
Property and equipment, net	$ 9,566	$ 9,128	3,716
Bridge Media Networks L L C [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life years	1 year	1 year
Bridge Media Networks L L C [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life years	38 years	38 years
Office Equipment And Computers [Member]
Property, Plant and Equipment [Line Items]
Total cost	$ 1,777	$ 1,744	1,744
Office Equipment And Computers [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life years		1 year
Office Equipment And Computers [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life years		3 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total cost	133	$ 166	240
Furniture and Fixtures [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life years		1 year
Furniture and Fixtures [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life years		5 years
Land [Member] \| Bridge Media Networks L L C [Member]
Property, Plant and Equipment [Line Items]
Total cost	26	$ 26	26
Building and Building Improvements [Member] \| Bridge Media Networks L L C [Member]
Property, Plant and Equipment [Line Items]
Total cost	$ 861	$ 861	797
Building and Building Improvements [Member] \| Bridge Media Networks L L C [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life years	7 years	7 years
Building and Building Improvements [Member] \| Bridge Media Networks L L C [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life years	38 years	38 years
Machinery and Equipment [Member] \| Bridge Media Networks L L C [Member]
Property, Plant and Equipment [Line Items]
Total cost	$ 379	$ 324	331
Machinery and Equipment [Member] \| Bridge Media Networks L L C [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life years	1 year	1 year
Machinery and Equipment [Member] \| Bridge Media Networks L L C [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life years	6 years	6 years
Transportation Equipment [Member] \| Bridge Media Networks L L C [Member]
Property, Plant and Equipment [Line Items]
Total cost	$ 232	$ 232	306
Depreciable life years	4 years	4 years
Office Equipment And Software [Member] \| Bridge Media Networks L L C [Member]
Property, Plant and Equipment [Line Items]
Total cost	$ 5,919	$ 5,617	1,428
Office Equipment And Software [Member] \| Bridge Media Networks L L C [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life years	1 year	1 year
Office Equipment And Software [Member] \| Bridge Media Networks L L C [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life years	6 years	6 years
Station Equipment [Member] \| Bridge Media Networks L L C [Member]
Property, Plant and Equipment [Line Items]
Total cost			390
Depreciable life years		5 years
Construction in Progress [Member] \| Bridge Media Networks L L C [Member]
Property, Plant and Equipment [Line Items]
Total cost	$ 3,457	$ 3,080	$ 738

Stockholders’ Deficiency

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Equity [Abstract]

Stockholders’ Deficiency

14. Stockholders’ Deficiency

Common Stock

The Company has the authority to issue 1,000,000,000 shares of common stock, $0.01 par value per share.

Common Stock Private Placement – On February 14, 2024, the Company entered into a subscription agreement (the “Subscription Agreement”) with Simplify, pursuant to which the Company agreed to sell and issue to Simplify in a private placement (the “Private Placement”) an aggregate of 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 – On March 31, 2023, the Company entered into common stock purchase agreements with certain purchasers, pursuant to which the Company agreed to issue and sell in a registered direct offering an aggregate of 2,963,918 shares of the Company’s common stock at a purchase price of $3.88 per share, with gross proceeds of $11,500. Net proceeds of $11,211 were received, after deducting issuance costs $289, as reflected on the condensed consolidated statement of stockholder’s deficiency. No underwriter or placement agent participated in the registered direct offering. The net proceeds were used for working capital and general corporate purposes. Further information is provided in Note 18.

Restricted Stock Units – The Company issued, in connection with the vesting of restricted stock units, 678,165 shares of the Company’s common stock and 397,376 shares of the Company’s common stock during the three months ended March 31, 2024 and 2023, respectively, as reflected on the condensed consolidated statements of stockholders’ equity.

21. Stockholders’ Deficiency

Common Stock

The Company has the authority to issue 1,000,000,000 shares of common stock, as the result of filing on December 18, 2020, a Certificate of Amendment with the Secretary of the State of Delaware to increase the number of authorized shares of its common stock from 100,000,000 shares to 1,000,000,000 shares.

Common Stock Registered Direct Offering – On March 31, 2023, the Company entered into common stock purchase agreements with certain purchasers, pursuant to which the Company issued and sold in a registered direct offering an aggregate of 2,963,918 shares of the Company’s common stock, at a purchase price of $3.88 per share. The gross proceeds received were $11,500 and after deducting offering expenses of $356, the Company received net proceeds of $11,144, as reflected on the consolidated statements of stockholder’s deficiency. No underwriter or placement agent participated in the registered direct offering. The net proceeds were intended for working capital and other general corporate purposes. Further information is provided in Note 26.

Common Stock for Series H Preferred Stock – During the years ended December 31, 2023 and 2022, the Company recorded the issuance of 1,981,128 (of which 1,759,224 were issued in accordance with the automatic mandatory conversion) and 97,980 shares of common stock, respectively, upon conversion of 14,356 (of which 12,748 were issued were issued in accordance with the automatic mandatory conversion) and 710 shares of Series H Preferred Stock, respectively, with a corresponding amount of $13,008 (representing 14,356 shares of Series H Preferred Stock at $1,000 stated par value per share, less issuance cost of $1,348) and $710 (representing 710 shares of Series H Preferred Stock at $1,000 stated par value per share), respectively, as reflected on the consolidated statements of stockholders’ deficiency.

Common Stock for Acquisitions – During the years ended December 31, 2023 and 2022, the Company recorded the issuance of 274,692 and 330,863 shares of the Company’s common stock, respectively, as reflected on the consolidated statements of stockholders’ deficiency as follows: (i) 274,692 shares issued pursuant to the Fexy Studios asset acquisition on January 11, 2023, with a fair value of $2,000 on the transaction closing date, as further described in Note 4; and (ii) 330,863 shares issued consisted of (a) 314,103 shares issued pursuant to the Parade stock acquisition on April 1, 2022, with a fair market value of $3,141, as further described in Note 4; and (b) 16,760 shares issued on March 9, 2022, pursuant to an asset acquisition entered into March 9, 2020 with no fair value recognized at the time of issuance.

Common Stock for Liquidated Damages – During the years ended December 31, 2023 and 2022, the Company entered into several stock purchase agreements with an investor where it was liable for liquidated damages, pursuant to which the Company issued 47,252 and 505,655, respectively, shares of its common stock, as follows: (i) 47,252 shares of common stock were issued to the investor in lieu of an aggregate of $499 owed in liquidated damages as of the conversion date ($494 as of December 31, 2022 plus $5 in additional interest through the conversion date), where the Company recorded $369 in connection with the issuance of shares of the Company’s common stock and a gain of $130 on the settlement of the liquidated damages, both as reflected in additional paid-in capital, totaling $499; and (ii) 505,655 shares of common stock were issued at a price equal to $13.86 per share (determined based on the volume-weighted average price of the Company’s common stock at the close of trading on the sixty (60) previous trading days), to the investors in lieu of an aggregate of $7,008 owed in liquidated damages, where the Company recorded $6,685 in connection with the issuance of shares of the Company’s common stock and recognized a gain of $323 on the settlement of the liquidated damages, both of which were recorded as additional paid-in capital on the consolidated statements of stockholders’ deficiency. In connection with the 505,655 shares of common stock issued, the Company filed a registration statement covering the resale of those shares of the Company’s common stock.

Restricted Stock Units – The Company issued, in connection with the vesting of restricted stock units, 429,528 shares of the Company’s common stock and 832,233 shares of the Company’s common stock (as described in Note 22) during the years ended December 31, 2023 and 2022, respectively, as reflected on the consolidated statements of stockholders’ equity.

Common Stock Withheld – The Company recorded the repurchase of vested restricted common stock of 202,382 shares for the payment for taxes of $1,423, and 373,394 shares for the payment for taxes of $4,468, during the years ended December 31, 2023 and 2022, respectively, as reflected on the consolidated statements of stockholders’ deficiency.

Exercise of Stock Options – The Company recorded the exercise of 795 and 96,408 common stock options for shares of the Company’s common stock for cash of $0 and $95, during the years ended December 31, 2023 and 2022, respectively, as reflected on the consolidated statements of stockholders’ deficiency.

Common Stock to be Issued – In connection with the Say Media merger on December 12, 2018, the Company issued 38,582 and 7,851 shares of the Company’s common stock during the year ended December 31, 2023 and 2022, respectively, which were required to be issued as of January 1, 2022.

Professional Services – During the year ended December 31, 2022, the Company issued, in connection with entering into several professional services agreements, 14,617 shares of the Company’s common stock (14,617 shares consisted of 1,134 shares issued on January 12, 2022 at $13.20 and 13,483 shares issued on January 26, 2022 at $12.54) that were recorded at the trading price on the issuance date of $184, as reflected on the consolidated statements of stockholders’ deficiency.

Common Stock Public Offering – On February 15, 2022 and March 11, 2022, the Company raised gross proceeds of $34,498 pursuant to a firm commitment underwritten public offering of 4,181,603 shares of the Company’s common stock (on February 15, 2022 the Company issued 3,636,364 shares and on March 11, 2022 the Company issued 545,239 shares pursuant to the underwriter’s overallotment that was exercised on March 10, 2022), at a public offering price of $8.25 per share. The Company received net proceeds of $32,058, after deducting underwriting discounts and commissions and other offering costs payable by the Company of $2,440 to B. Riley (see Note 26). In addition, the Company directly incurred offering costs of $1,568 and recorded $30,490 upon the issuance of its common stock, as reflected on the consolidated statements of stockholders’ deficiency.

Restricted Stock Awards

Unless otherwise stated, the fair value of a restricted stock award is determined based on the number of shares granted and the quoted price of the Company’s common stock on the date issued. The estimated fair value of these shares is being recognized as compensation expense over the vesting period of the award (see Note 22).

A summary of the restricted stock award activity during the year ended December 31, 2023 is as follows:

	Number of Shares			Weighted Average Grant-Date Fair Value
Restricted stock awards outstanding at January 1, 2023		97,403		$	16.94
Vested		(97,403	)		(16.94	)
Restricted stock awards outstanding at December 31, 2023		-

Information with respect to stock-based compensation cost and unrecognized stock-based compensation cost related to the restricted stock awards is provided under the heading Stock-Based Compensation in Note 22.

Common Stock to be Issued

In connection with a closing of a private placement on January 4, 2018, MDB, as the placement agent, was entitled to receive 2,701 shares of the Company’s common stock (subject to liquidated damages, see Note 15), which have not been issued as of December 31, 2023, as reflected on the consolidated statements of stockholders’ deficiency as common stock to be issued (see Note 15).

Common Stock Warrants

Warrants were issued to purchase shares of the Company’s common stock in connection with various financings (the “Financing Warrants”), all of which have expired.

A summary of the Financing Warrants activity during the year ended December 31, 2023 is as follows:

Summary of Warrant Activity

Weighted

Average

Weighted

Remaining

Average

Contractual

Number of

Exercise

Life

Price

(in Years)

Financing Warrants outstanding at January 1, 2023

107,956

10.61

0.58

Expired

(107,956

)

10.61

Financing Warrants outstanding at December 31, 2023

AllHipHop Warrants – On October 26, 2020, the Company granted AllHipHop, LLC an aggregate of 5,682 warrants for shares of the Company’s common stock with an exercise price of $14.30 (the “AllHipHop Warrants”). The AllHipHop Warrants are exercisable for a period of five years, subject to customary anti-dilution adjustments, and may be exercised on a cashless basis. The AllHipHop Warrants were in exchange for the surrender and termination of 6,819 previously issued Publisher Partner Warrants.

ABG Warrants – On June 14, 2019, the Company issued 999,540 warrants to acquire the Company’s common stock to ABG (the “ABG Warrants”) in connection with the Licensing Agreement, expiring in ten years. The warrants provided time-based vesting in equal monthly increments over a period of two years beginning on the one year anniversary of the date of issuance of the warrants (the “Time-Based Warrants”) and performance based vesting based on the achievement of certain performance goals for the licensed brands in calendar years 2020, 2021, 2022, or 2023 (the “Performance-Based Warrants”). The warrants also provide that (1) under certain circumstances the Company may require ABG to exercise all (and not less than all) of the warrants, in which case all of the warrants will be vested; (2) all of the warrants automatically vest upon certain terminations of the Licensing Agreement by ABG or upon a change of control of the Company; and (3) ABG has the right to participate, on a pro-rata basis (including vested and unvested warrants, exercised or unexercised), in any future equity issuance of the Company (subject to customary exceptions).

As of December 31, 2023, 399,816 Time-Based Warrants vested and 599,724 Performance-Based Warrants vested as of the issuance date of these consolidated financial statements were issued (further details are provided under the heading ABG Warrants in Note 28 as to the full vesting of the ABG Warrants in January 2024).

Information with respect to stock-based compensation cost and unrecognized stock-based compensation cost related to the ABG Warrants is provided in Note 22.

Publisher Partner Warrants – On May 20, 2020, the Board approved a third publisher partner warrant program, which superseded the second publisher partner warrant program and authorized the Company to grant publisher partner warrants to purchase up to 90,910 shares of the Company’s common stock (the “Publisher Partner Warrants”). The issuance of the Publisher Partner Warrants is administered by management and approved by the Board.

New Publisher Partner Warrants – On November 2, 2022, the Board approved a warrant incentive program to grant warrants to certain publishers (the “New Publisher Partner Warrants”), that authorized the Company to grant New Publisher Partner Warrants to purchase up to 33,000 shares of the Company’s common stock. The New Publisher Partner Warrants will have the following terms: (i) one-third will become exercisable and vest on the one-year anniversary of the issuance; (ii) the remaining warrants will become exercisable and vest in a series of twenty-four (24) successive equal monthly installments following the first anniversary of the issuance; and (iii) a five-year term. The issuance of the New Publisher Partner Warrants is administered by management and approved by the Board.

Information with respect to stock-based compensation cost and unrecognized stock-based compensation cost related to the New Publisher Partner Warrants is provided in Note 22.

The entire disclosure for equity.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Schedule of Warrants Activity (Details) - $ / shares	12 Months Ended
Schedule of Warrants Activity (Details) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
ABG Warrants [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Shares, unvested outstanding, at beginning of year	599,724
Number of Shares, vested outstanding, at beginning of year	399,816
Weighted Average Exercise Price, outstanding, at beginning of year	$ 11.55
Weighted average remaining contractual life outstanding	5 years 5 months 15 days	6 years 5 months 15 days
Number of Shares, unvested issued
Number of Shares, vested
Number of Shares, unvested outstanding, at end of year	599,724	599,724
Number of Shares, vested outstanding, at end of year	399,816	399,816
Weighted Average Exercise Price, outstanding, at end of year	$ 11.55	$ 11.55
New Publisher Partner Warrant [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted Average Exercise Price, outstanding, at beginning of year
Weighted Average Exercise Price, outstanding, at end of year
Number of Shares, outstanding, at beginning of year
Number of Shares, Forfeited	9,800
Weighted Average Exercise Price, Granted	$ 6.91
Number of Shares, outstanding at end of year	9,800
Weighted Average Exercise Price, Exercisable	$ 6.91
Weighted average remaining contractual life outstanding	4 years 1 month 24 days
Number of Shares, Exercisable at end of year	1,084
Weighted Average Exercise Price, Exercisable at end of year	$ 10.56
Weighted average remaining contractual life exercisable	3 years 11 months 1 day
Number of Shares, not vested at end of year	8,716
Number of Shares, Available for future grants at end of year	23,000

Related Party Transactions	3 Months Ended	12 Months Ended
Related Party Transactions	Mar. 31, 2024	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Related Party Transactions	18. Related Party Transactions *Principal Stockholder* Arena Loan Agreement – On January 5, 2024, as part of negotiations with Renew Group Private Limited (“Renew”), an affiliated entity of Simplify, in connection with the Company’s failure on December 29, 2023 to make the interest payment due on the loan agreement (the “Arena Loan Agreement”), dated December 15, 2022 held by Renew (the “Arena Notes”) in the amount of $2,797, that resulted in an event of default under the Arena Notes (the “Arena Notes Default”), Renew agreed in writing to a forbearance period through March 29, 2024 (subsequently extended to April 30, 2024 and September 30, 2024), subject to the Company retaining a chief restructuring officer acceptable to Renew, while reserving its rights and remedies. In connection with the forbearance, the Company had an engagement with FTI Consulting Inc., (“FTI”) from January 5, 2024 through April 26, 2024, a global business advisory firm, to assist the Company with its turnaround plans and forge an expedited path to sustainable positive cash flow and earnings to create shareholder value (the “FTI Engagement”). In connection with the FTI Engagement, Jason Frankl, a senior managing director of FTI, was appointed as the Company’s Chief Business Transformation Officer. He was later appointed as the interim Co-President. Upon completion of their work under the FTI Engagement satisfactory to Renew and the Company, the FTI Engagement was terminated as of April 26, 2024 and Mr. Frankl resigned as Co-President and Chief Business Transformation Officer. The outstanding principal on the Arena Notes was $110,691 ($8,000 for the 2023 Notes and $102,691 for the Debt) as of March 31, 2024 and the forbearance period was further extended on April 29, 2024 (as further described below) through September 30, 2024. 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 under the Arena Loan Agreement, none of which was paid. As of March 31, 2024, the total balance due the related party under the Arena Loan Agreement was $5,595 as reflected within accrued expenses and other as accrued interest on the condensed consolidated balance sheets. Common Stock Private Placement – As a result of the issuance of the Private Placement Shares to Simplify, Simplify owns approximately 54.3% of the outstanding shares of the Company’s common stock, resulting in a change in control. As a result, Simplify has the ability to determine the outcome of any issue submitted to the Company’s stockholders for approval, including the election of directors. Prior to the consummation of the Private Placement, the Company’s public stockholders held a majority of the outstanding shares of the Company’s common stock. The funds used by Simplify to purchase the Private Placement Shares came from the working capital of Simplify. Business Combination – On February 9, 2024, New Arena Holdco, Inc. (“New Arena”), a wholly owned subsidiary of the Company, filed a Registration Statement on Form S-4 (File No. 333-276999) with the SEC in connection with the Business Combination Agreement by and among the Company, Simplify Inventions, LLC (“Simplify”), Bridge Media Networks, LLC (“Bridge Media”), New Arena and the other parties dated November 5, 2023, as amended on December 1, 2023 (the “Transaction Agreement”), that provides for the Company to combine its operations with those of Bridge Media, a wholly owned subsidiary of Simplify by way of a series of mergers with and among New Arena (the “Mergers”), subject to customary conditions, including the approval by the Company’s shareholders and certain regulatory approvals. Immediately following the Mergers, the Transaction Agreement provides for: (i) the purchase by The Hans Foundation USA, a nonprofit nonstock corporation (the “Hans Foundation”) of 25,000 shares of New Arena Series A Preferred Stock, par value $0.0001 per share, at a purchase price of $1,000.00 per share, for an aggregate purchase price of $25,000 pursuant to the subscription agreement, dated as of November 5, 2023, by and between New Arena and the Hans Foundation; and (ii) the purchase by 5-Hour International Corporation Pte. Ltd. (“5-Hour”) of 5,000,000 shares of New Arena common stock, par value $0.0001 per share (the “New Arena Common Stock”), at a purchase price of $5.00 per share, for an aggregate purchase price of $25,000 pursuant to the subscription agreement, dated as of November 5, 2023, by and between New Arena and 5-Hour. Further, concurrently with the closing of the Mergers, pursuant to that certain Committed Equity Facility Term Sheet, dated November 5, 2023, by and between Arena and Simplify, New Arena will enter into a Stock Purchase Agreement with Simplify, pursuant to which Simplify will agree to purchase, at New Arena’s request, up to $20,000 in aggregate purchase price of shares of New Arena Common Stock from time to time during the 12 months following the closing date at a price per share equal to the lesser of (i) the volume-weighted average price of the New Arena Common Stock for the last sixty trading days prior to the purchase date and (ii) $3.86 per share (the “Equity Line of Credit”), along with 60,000 shares of New Arena Common Stock as payment of a 1.5% commitment fee. 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 – The Company had an outstanding obligation with BRF Finance Co., LLC (“BRF”), an affiliated entity of B. Riley Financial, Inc. (“B. Riley”), in its capacity as agent for the purchasers and as purchaser, pursuant to a third amended and restated note purchase agreement (the “Note Purchase Agreement”) entered into on December 15, 2022, that was further amended pursuant to a first amendment to the third amended and restated note purchase agreement on August 14, 2023 (the “First Amendment” as further described below), where it amended the second amended and restated note purchase agreement issued on January 23, 2022. The Note Purchase Agreement contains provisions related to the 2022 Bridge Notes, 2023 Notes, Senior Secured Notes, and Delayed Draw Term Notes, all as further described below and referred to together as the “Notes”. Under the terms of the Note Purchase Agreement and First Amendment, in the event there is a mandatory prepayment requirement (as further described below), the principal payment of the notes will be applied to: (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 – On March 31, 2023, in connection with the registered direct offering, the Company entered into common stock purchase agreements for 1,009,021 shares of the Company’s common stock for a total of $3,915 in gross proceeds with B. Riley, at a price per share of $3.88 per share. 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 – On March 31, 2023, in connection with the registered direct offering, the Company entered into common stock purchase agreements for 317,518 shares of the Company’s common stock for a total of $1,232 in gross proceeds with certain directors and affiliates, at a price of $3.88 per share, as follows: (i) 64,000 shares for $248 to H. Hunt Allred, a director, through certain trusts (32,000 shares are directly beneficially owned by the Allred 2002 Trust - HHA and 32,000 shares are directly beneficially owned by the by Allred 2002 Trust - NLA); (ii) 195,529 shares for $759 to 180 Degree Capital Corp, a former beneficial holder of more than 5% of the Company’s common stock; (iii) 25,773 shares for $100 to Daniel Shribman, a former director; (iv) 25,773 shares for $100 to Ross Levinsohn, a former director and the Company’s former Chief Executive Officer; and (v) 6,443 shares for $25 to Paul Edmonson, an executive officer.	26. Related Party Transactions *Principal Stockholders* The Company has an outstanding obligation with Renew, an affiliated entity of Simplify, where Renew purchased the all the outstanding debt held by BRF Finance Co., LLC (“BRF”) an affiliated entity of B. Riley Financial, Inc. (“B. Riley”) (as further described below), who now holds the debt in its capacity as agent for the purchasers and as purchaser, pursuant to the third amended and restated note purchase agreement entered into on December 15, 2022 (the “Note Purchase Agreement”), as amended by the first amendment to the Note Purchase Agreement on August 14, 2023 (the “First Amendment”) with an effective date of August 31, 2023, as further amended by the second amendment to the Note Purchase Agreement on December 1, 2023 (the “Second Amendment”). The Note Purchase Agreement contains provisions related to the 2023 Notes, Senior Secured Notes, Delayed Draw Term Notes and 2022 Bridge Notes, all as further described above and referred to as the “Notes”. Under the terms of the Note Purchase Agreement, First Amendment and Second Amendment, in the event there is a mandatory prepayment requirement, the principal payment of the Notes will be applied to: (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 provide for certain affirmative covenants, including certain financial reporting obligations. On November 30, 2023, Simplify entered into a stock purchase and assignment agreement (the “Stock Purchase Agreement”), pursuant to which it purchased an aggregate of 10,512,236 shares of the Company’s common stock for aggregate consideration of $30,485 on December 1, 2023 from B. Riley and other affiliated entities of B. Riley and certain other sellers (collectively the “Sellers”), resulting in Simplify becoming a principal stockholder and the Sellers no longer owning any of the Company’s common stock. On November 30, 2023, Renew, an affiliated entity of Simplify and a principal stockholder, and BRF, an affiliate of the Sellers, entered into a securities purchase and assignment agreement (the “Debt Purchase Agreement”), pursuant to which BRF sold and assigned to Renew all of BRF’s rights, duties, liabilities and obligations pursuant to the Note Purchase Agreement, as amended, and the Notes purchased thereunder and the collateral securing such Notes on December 1, 2023 (further details are provided under the heading Arena Loan Agreement in Note 28), resulting in BRF no longer holding any debt securities of the Company. The aggregate principal balance under the Notes was $110,691 at the time of purchase by Renew. As of November 30, 2023, Daniel Shribman, Chief Investment Officer of BRF, and Todd Sims, President of B. Riley Venture Capital, a subsidiary of BRF, resigned as members of the Board of the Company. For the years ended December 31, 2023 and 2022, the Company paid in cash interest of $9,068 and $7,132, respectively, on the Notes due to BRF, an affiliated of B. Riley, a former principal stockholder. For the year ended December 31, 2023, the Company incurred interest of $2,797 for the period from October 1, 2023 to December 31, 2023 on the Notes held by Renew, an affiliated entity of Simplify, a principal stockholder, where the Company defaulted on the payment of $2,797 interest due on December 29, 2023. On March 31, 2023, in connection with the registered direct offering, the Company entered into common stock purchase agreements for 1,009,021 shares of the Company’s common stock for a total of $3,915 in gross proceeds with B. Riley, a former principal stockholder, at a price per share of $3.88 per share. On August 10, 2023, the Series H Preferred Stock automatically converted into shares of the Company’s common stock at the conversion price of $7.26 per share, of which 134,550 shares were issued to B. Riley, a former principal stockholder. On August 31, 2023, September 29, 2023 and November 27, 2023, in connection with the 2023 Notes, BRF, an affiliated entity of B. Riley, a former principal stockholder, issued $5,000, $1,000 and $2,000, respectively, in aggregate principal amount under the 2023 Note, where the Company incurred fees of $357. The Company entered into transactions with B. Riley, a former principal stockholder, where it borrowed funds under the 2022 Bridge Notes of $36,000 during the year ended December 31, 2022. For the year ended December 31, 2022, the Company had certain transactions with B. Riley, a former principal stockholder, where it paid fees associated with the common stock public offering totaling $2,440. *Registered Direct Offering* On March 31, 2023, in connection with the registered direct offering, the Company entered into common stock purchase agreements for 317,518 shares of the Company’s common stock for a total of $1,232 in gross proceeds with certain directors and affiliates, at a price of $3.88 per share, as follows: (i) 64,000 shares for $248 to H. Hunt Allred, a director, through certain trusts (32,000 shares are directly beneficially owned by the Allred 2002 Trust - HHA and 32,000 shares are directly beneficially owned by the by Allred 2002Trust - NLA); (ii) 195,529 shares for $759 to 180 Degree Capital Corp, a beneficial holder of more than 5% of the Company’s common stock; (iii) 25,773 shares for $100 to Daniel Shribman, a former director; (iv) 25,773 shares for $100 to Ross Levinsohn, a former director and the Company’s former Chief Executive Officer; and (v) 6,443 shares for $25 to Paul Edmonson, an executive officer. *Repurchases of Restricted Stock* On December 15, 2020, the Company entered into an amendment for certain restricted stock awards and units that were previously issued to certain employees in connection with the HubPages merger, pursuant to which the Company agreed to repurchase from certain key personnel of HubPages, Inc., including Paul Edmondson, one of the Company’s officers, and his spouse, an aggregate of 764 shares of the Company’s common stock at a price of $88.00 per share each month for a period of 24 months, for aggregate proceeds to Mr. Edmondson and his spouse of $67 per month. For year ended December 31, 2022, the Company paid Mr. Edmonson and his spouse $269 for 3,056 shares of the Company’s common stock.
Bridge Media Networks L L C [Member]
Restructuring Cost and Reserve [Line Items]
Related Party Transactions	Note 5 – Related Party Transactions Revenue The Company provides advertising services to related parties. The Company recorded $2.3 million and $372 thousand in related party revenue for the three months ended March 31, 2024 and 2023, respectively. Broadcasting Services Expense The Company receives broadcasting services from one of its related parties. The Company recorded $445 thousand and $89 thousand for related party broadcasting expenses which are included in cost of sales of the Company’s statement of operations for the three months ended March 31, 2024 and 2023, respectively. Employee Sharing Agreement On January 1, 2023, Bridge Media entered into an employee sharing agreement with Bridge News, pursuant to which Bridge News has agreed to make certain of its employees available to Bridge Media to perform services for Bridge Media through December 31, 2023 (the “Employee Sharing Agreement”). On January 1, 2024, the Employee Sharing Agreement was extended through December 31, 2024. Bridge News pays for all direct costs of the individuals subject to the Employee Sharing Agreement on behalf of Bridge Media and Bridge News remains the employer of the individuals subject to the Employee Sharing Agreement. Pursuant to the Employee Sharing Agreement, Bridge Media has incurred an aggregate of $2.5 million and $1.1 million in payroll expenses which are included in general and administrative expenses for the three months ended March 31, 2024 and 2023, respectively. Bridge News sponsors a 401(k) plan for its employees, including employees subject to the Employee Sharing Agreement with Bridge Media. The plan provides for discretionary matching contributions. Bridge Media incurred $40 thousand and $9 thousand of expenses for contributions to the plan which are included in general and administrative expenses for the three months ended March 31, 2024 and 2023, respectively. Shared Service Expenses The Company records expenses for monthly shared services provided by its parent company and other related parties. These services include employee time spent performing accounting, human resources, information technology, marketing and other professional services for the Company, as well as any non-employee related expenses incurred on behalf of the Company. Total shared service fees charged to the Company, which are included in general and administrative expenses of the Company’s statement of operations, were $321 thousand and $61 thousand for the three months ended March 31, 2024 and 2023, respectively. Consulting Expenses During the three months ended March 31, 2024, the Company recorded $3 thousand in expenses for consulting services from a related party. These expenses are included in general and administrative expenses in the Company’s statement of operations. The Company did not record any related party consulting expenses for the three months ended March 31, 2023. Bridge Media Networks, LLC Notes to Unaudited Financial Statements Note Payable On January 1, 2024, the Company entered into a revolving promissory note with its parent company, Simplify, in which bears interest at 6%. The revolving promissory note matures on January 1 2028. Outstanding principal, together with any accrued but unpaid interest, will become due in full immediately upon demand of Simplify or on the maturity date. The note had a balance of $2.7 million as of March 31, 2024 and the Company recorded interest expense of $21 thousand for the three months ended March 31, 2024. On February 21, 2023, the Company entered into a revolving promissory note with Simplify which bears interest at 6%. On October 1, 2023, the Company entered into a debt contribution agreement with Simplify to convert the outstanding debt and related accrued interest of the revolving promissory note to an equity contribution. The total balance of the debt converted to an equity contribution was $26.3 million. Contributions and Distributions During the three months ended March 31, 2024, the Company received a non cash contribution of $2.4 million for payroll expenses paid by Bridge News. During the three months ended March 31, 2023, the Company recorded a $1.1 million contribution for payroll expenses paid by Bridge News net of an unbilled revenue of $300 thousand collected by Bridge News on behalf of Bridge Media. The Company did not record any distributions for the three months ended March 31, 2024. During the three months ended March 31, 2023, the Company distributed approximately $1.7 million in cash and $385 thousand in fixed assets to a related party.	Note 6 – Related Party Transactions Revenue The Company provides advertising services to related parties. The Company recorded $4.5 million in related party revenue for the year ended December 31, 2023. The Company did not record any related party revenue for the year ended December 31, 2022. Broadcasting Services Expense The Company receives broadcasting services from one of its related parties. The Company recorded $719 thousand for related party broadcasting expenses which are included in cost of sales of the Company’s statement of operations for the year ended December 31, 2023. The Company did not record any related party broadcasting expenses for the year ended December 31, 2022. Bridge Media Networks, LLC Notes to Financial Statements December 31, 2023 and 2022 Employee Sharing Agreement On January 1, 2023, Bridge Media entered into an employee sharing agreement with Bridge News, pursuant to which Bridge News has agreed to make certain of its employees available to Bridge Media to perform services for Bridge Media through December 31, 2023 (the “Employee Sharing Agreement”). Bridge News pays for all direct costs of the individuals subject to the Employee Sharing Agreement on behalf of Bridge Media and Bridge News remains the employer of the individuals subject to the Employee Sharing Agreement. Pursuant to the Employee Sharing Agreement, Bridge Media has incurred an aggregate of $6.9 million in payroll expenses which are included in general and administrative expenses for the year ended December 31, 2023. Bridge News sponsors a 401(k) plan for its employees, including employees subject to the Employee Sharing Agreement with Bridge Media. The plan provides for discretionary matching contributions. Bridge media incurred $79 thousand of expenses for contributions to the plan which are included in general and administrative expenses for the year ended December 31, 2023. On January 1, 2024, the Employee Sharing Agreement was extended through December 31, 2024. Shared Service Expenses The Company records expenses for monthly shared services provided by its parent company and other related parties. These services include employee time spent performing accounting, human resources, information technology, marketing and other professional services for the Company, as well as any non-employee related expenses incurred on behalf of the Company. Total shared service fees charged to the Company, which are included in general and administrative expenses of the Company’s statement of operations, were $533 thousand and $25 thousand for the years ended December 31, 2023 and 2022, respectively. Advertising Expenses During the year ended December 31, 2023, the Company recorded $118 thousand in expenses for advertising expenses paid for by a related party on behalf of the Company. Advertising expenses are included in general and administrative expenses in the Company’s statement of operations. The Company did not record any related party advertising expenses for the year ended December 31, 2022. Consulting Expenses During the year ended December 31, 2023, the Company recorded $345 thousand in expenses for consulting services from a related party. These expenses are included in general and administrative expenses in the Company’s statement of operations. The Company did not record any related party consulting expenses for the year ended December 31, 2022. Note Payable On February 21, 2023, the Company entered into a revolving promissory note with Simplify which bears interest at 6%. On October 1, 2023, the Company entered into a debt contribution agreement with Simplify to convert the outstanding debt and related accrued interest of the revolving promissory note to an equity contribution. The total balance of the debt converted to an equity contribution was $26.3 million. Bridge Media Networks, LLC Notes to Financial Statements December 31, 2023 and 2022 Contributions and Distributions During the year ended December 31, 2023, the Company received $35.3 million in cash and non-cash contributions from Simplify to support current and future operations. The cash contribution of $1.8 million was received from Simplify. Non cash- contributions include conversion of the revolving promissory note with Simplify in the amount of $26.3 million to an equity contribution, $6.9 million for payroll expenses paid by Bridge News, $499 thousand for interest expense paid by Simplify on behalf of the Company, and are net of $213 thousand of unbilled revenue collected by BN on behalf of BMN. During the year ended December 31, 2022, the Company recorded a $1.0 million contribution in the form of payment for consideration for the TravelHost acquisition. The remaining 2022 contributions consisted of $3.7 million of property and equipment and $0.1 million of net current assets and liabilities. During the year ended December 31, 2023, the Company distributed approximately $16.7 million in cash and $369 thousand in fixed assets to a related party. The Company did not record any distributions for the year ended December 31, 2022.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Summary of Interest Expense (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Dec. 31, 2023

Dec. 31, 2022

$ 536

$ 930

$ 2,378

$ 1,581

2,839

3,824

320

964

3,252

12,101

9,527

Less interest income

^[1]

(338)

Total interest expense

4,339

4,182

17,965

11,428

Line of Credit [Member]

418

214

2022 Bridge Notes [Member]

795

438

2,023

1,328

628

244

910

920

Senior Secured Notes [Member]

1,127

3,763

223

632

1,031

1,585

1,602

Delayed Draw Term Notes [Member]

1,567

4,754

6,356

464

101

102

100

303

980

2023 Notes [Member]

1,216

202

173

Line Of Credit Termination Fee [Member]

900

Parade [Member]

Other Accrued Interest [Member]

116

127

204

Other [Member]

Two Thousand Twenty Three Bridge Notes [Member]

169

$ 1,214

$ 863

Simplify Loan [Member]

Schedule of Supplemental Proforma Information

$ 41

[1]	During the year ended December 31, 2023, the Company recorded interest income of $338 related to the refunds received from the employee retention credits.

Acquisitions (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Asset Acquisition [Line Items]

The following table summarizes the results of continuing operations of the Parade acquisition from the acquisition date included in the consolidated results of continuing operations and the unaudited pro forma results of continuing operations of the combined entity had the date of the acquisition been January 1, 2022:

	Year Ended December 31, 2022
Parade continuing operations from acquisition date of April 1, 2022 (unaudited):
Revenue	$	40,071
Net loss		(2,494	)
Combined entity continuing operations supplemental pro forma information had the acquisition date been January 1, 2022 (unaudited):
Revenue:
Parade	$	55,981
Arena		207,681
Total continuing operations supplemental pro forma revenue	$	263,662
Net loss:
Parade	$	(3,070	)
Arena		(67,788	)
Adjustments		(1,940	)
Total continuing operations supplemental pro forma net loss	$	(72,798	)

Schedule of Preliminary 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:


Lease deposit receivable	$	420
Advertiser relationships		6,860
Brand names		6,090
Goodwill		18,384
Unearned revenue		(3,941	)
Subscription refund liability		(137	)
Assumed lease obligation		(2,676	)
Net assets acquired	$	25,000

Athlon Holdings Inc [Member]

Asset Acquisition [Line Items]

Schedule of Composition of Purchase Price

The composition of the purchase price is as follows:


Cash	$	12,085
Common stock		3,141
Deferred cash payments, as discounted		628
Total purchase consideration	$	15,854

Summary of Purchase Price Allocation


Cash	$	2,604
Accounts receivable		10,855
Other current assets		1,337
Equity investment		2,450
Fixed assets		108
Digital content		355
Advertiser relationships		6,202
Trade names		2,261
Goodwill		2,587
Accounts payable		(7,416	)
Accrued expenses and other		(2,440	)
Unearned revenue		(1,203	)
Other long-term liabilities		(543	)
Deferred tax liabilities		(1,303	)
Net assets acquired	$	15,854

Fexy Studios [Member]

Asset Acquisition [Line Items]

Schedule of Composition Preliminary Assets Purchase Price

The composition of the purchase price is as follows:


Cash	$	500
Common stock		2,000
Contingent consideration		561
Deferred cash payments, as discounted		246
Total purchase consideration	$	3,307

The composition of the purchase price is as follows:


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


Advertiser relationships	$	663
Brand names		659
Goodwill		1,985
Net assets acquired	$	3,307


Advertiser relationships	$	663
Brand names		659
Goodwill		1,985
Net assets acquired	$	3,307

Subsequent Events (Details Narrative) - USD ($)															1 Months Ended					2 Months Ended	3 Months Ended		12 Months Ended
Subsequent Events (Details Narrative) - USD ($)	Apr. 01, 2024	Mar. 21, 2024	Feb. 15, 2024	Feb. 14, 2024	Feb. 09, 2024	Jan. 02, 2024	Jan. 02, 2024	Jan. 01, 2024	Jun. 30, 2023	Feb. 28, 2023	Feb. 28, 2023	Nov. 22, 2022	Aug. 31, 2022	Mar. 18, 2022	May 31, 2024	May 15, 2024	Apr. 30, 2024	Mar. 31, 2024	Feb. 29, 2024	Mar. 14, 2024	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Apr. 11, 2024	Mar. 13, 2024	Jan. 05, 2024	Oct. 31, 2023	Feb. 21, 2023	Oct. 31, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Debt Instrument, Face Amount																								$ 110,691,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares																								583,143
Stock Issued During Period, Shares, New Issues					5,000,000
Preferred Stock, Par or Stated Value Per Share					$ 0.0001													$ 0.01			$ 0.01			$ 0.01
Share Price					$ 5.00																			2.38
Common Stock, Par or Stated Value Per Share																		$ 0.01			$ 0.01			$ 0.01	$ 0.01
Proceeds from Issuance of Private Placement																					$ 12,000,000
Working capital																											$ 25,000,000
Short-Term Debt																		$ 102,342,000			102,342,000			$ 102,309,000			7,748,000
Debt Instrument, Fee Amount																											$ 3,448,000
Loss Contingency, Damages Sought, Value		$ 20,000,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross									42,635		38,026	232,816		4,343,017
Lessee, Operating Lease, Liability, to be Paid																		249,000			249,000			373,000					$ 4,000,000		$ 1,000,000	$ 1,000,000
Interest Expense, Operating and Nonoperating																					4,339,000	4,182,000		17,965,000	$ 11,428,000
Simplyfy Loan [Member]
Subsequent Event [Line Items]
Equity Method Investment, Ownership Percentage																											10.00%
Fexy Studios [Member]
Subsequent Event [Line Items]
Business Combination, Consideration Transferred			$ 2,478,000
Business combination consideration transferred installment due			$ 620,000															620,000	$ 620,000
Share-Based Compensation Arrangement by Share-Based Payment Award, 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.
Bridge Media Networks L L C [Member]
Subsequent Event [Line Items]
Business Combination, Consideration Transferred													$ 1,000,000
Lessee, Operating Lease, Liability, to be Paid																		928,000			928,000			935,000
Interest Expense, Operating and Nonoperating																					(38,000)	$ (8,000)		512,000
Bridge Media Networks L L C [Member] \| Simplify Inventions LLC [Member]
Subsequent Event [Line Items]
Interest Expense, Operating and Nonoperating																								$ 499,000
Bridge Media Networks L L C [Member] \| Simplify Inventions LLC [Member] \| Revolving Promissory Note [Member]
Subsequent Event [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						6.00%	6.00%																							6.00%
Notes Payable																		$ 2,700,000			2,700,000
Interest Expense, Operating and Nonoperating																					$ 21,000
Private Placement [Member]
Subsequent Event [Line Items]
Shares outstanding percentage																		54.30%			54.30%
ABG Warrants [Member]
Subsequent Event [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares						599,724
Common Stock [Member]
Subsequent Event [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares										24,515
Stock Issued During Period, Shares, New Issues																					5,555,555				4,181,603
Business Combination, Price of Acquisition, Expected					$ 25,000,000
Stock Issued During Period, Shares, Restricted Stock Award, Gross																					678,165	397,376		429,528	832,233
Common Stock [Member] \| Restricted Stock Units (RSUs) [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Gross																					678,165	397,376
Subsequent Event [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues					5,000,000			378,292								17,698
Preferred Stock, Par or Stated Value Per Share					$ 0.0001
Share Price					$ 5.00
Working capital																				$ 25,000,000
Short-Term Debt																											$ 7,748,000
Debt Instrument, Fee Amount																											$ 3,448,000
Loss Contingency, Damages Sought, Value	$ 48,750	$ 20,000,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross																				22,843
Lease Expiration Date	Nov. 29, 2030
Lessee, Operating Lease, Liability, to be Paid	$ 4,019
Operating Leases, Future Minimum Payments Due																										$ 652
Subsequent Event [Member] \| Restricted Stock Units (RSUs) [Member]
Subsequent Event [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period								256,853
Stock Issued During Period, Shares, Restricted Stock Award, Gross																							295,000
Subsequent Event [Member] \| Members Of Board [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues								36,608
Subsequent Event [Member] \| Former Employees [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues								84,831
Subsequent Event [Member] \| Simplyfy Loan [Member]
Subsequent Event [Line Items]
Equity Method Investment, Ownership Percentage																											10.00%
Subsequent Event [Member] \| Fexy Studios [Member]
Subsequent Event [Line Items]
Business Combination, Consideration Transferred			$ 2,478,000
Business combination consideration transferred installment due			$ 620,000												$ 620,000		$ 620,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Description			(i) $2,225 pursuant to the 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.
Subsequent Event [Member] \| Bridge Media Networks L L C [Member] \| Simplify Inventions LLC [Member] \| Revolving Promissory Note [Member]
Subsequent Event [Line Items]
Debt Instrument, Interest Rate, Stated Percentage								6.00%
Notes Payable								$ 4,800,000
Interest Expense, Operating and Nonoperating							$ 67,000
Subsequent Event [Member] \| ABG Warrants [Member]
Subsequent Event [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares						599,724
Subsequent Event [Member] \| Common Stock [Member]
Subsequent Event [Line Items]
Business Combination, Price of Acquisition, Expected					$ 25,000,000
Stock Issued During Period, Shares, Restricted Stock Award, Gross																				222,396
Arena Loan Agreement [Member]
Subsequent Event [Line Items]
Debt Instrument, Face Amount																		$ 110,691,000			$ 110,691,000			$ 110,691,000				$ 2,797,000
Arena Loan Agreement [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Debt Instrument, Face Amount																												$ 2,797,000
Licensing Agreement [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Termination amount						$ 3,750,000	3,750,000
Termination fee due						$ 45,000,000	$ 45,000,000
Transaction Agreement [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues					25,000
Preferred Stock, Par or Stated Value Per Share					$ 0.0001
Share Price					$ 1,000.00
Transaction Agreement [Member] \| Preferred Stock [Member]
Subsequent Event [Line Items]
Business Combination, Price of Acquisition, Expected					$ 25,000,000
Transaction Agreement [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues					25,000
Preferred Stock, Par or Stated Value Per Share					$ 0.0001
Share Price					$ 1,000.00
Transaction Agreement [Member] \| Subsequent Event [Member] \| Preferred Stock [Member]
Subsequent Event [Line Items]
Business Combination, Price of Acquisition, Expected					$ 25,000,000
Stock Purchase Agreement [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues					60,000
Share Price					$ 3.86
Business Combination, Consideration Transferred, Other					$ 20,000,000
Line of Credit Facility, Commitment Fee Percentage					1.50%
Shares outstanding percentage					79.00%
Outstanding percentage					6.00%
Stock Purchase Agreement [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues					60,000
Share Price					$ 3.86
Business Combination, Consideration Transferred, Other					$ 20,000,000
Line of Credit Facility, Commitment Fee Percentage					1.50%
Shares outstanding percentage					79.00%
Common Stock, Par or Stated Value Per Share					$ 0.0001
Outstanding percentage					6.00%
Subscription Agreement [Member] \| Private Placement [Member]
Subsequent Event [Line Items]
Share Price				$ 2.16
Proceeds from Issuance of Private Placement				$ 12,000,000
Subscription Agreement [Member] \| Common Stock [Member] \| Private Placement [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues				5,555,555
Subscription Agreement [Member] \| Subsequent Event [Member] \| Private Placement [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues				5,555,555
Share Price				$ 2.16
Shares outstanding percentage					54.50%
Common Stock, Par or Stated Value Per Share				$ 0.01
Proceeds from Issuance of Private Placement				$ 12,000,000

Prepayments and Other Current Assets

12 Months Ended

Dec. 31, 2023

Prepayments And Other Current Assets

Prepayments and Other Current Assets

5. Prepayments and Other Current Assets

Prepayments and other current assets are summarized as follows:

	2023		2022
	As of December 31,
	2023		2022
Prepaid expenses	$	2,946	$	2,321
Prepaid supplies		773		927
Refundable income and franchise taxes		157		957
Unamortized debt costs		209		216
Employee retention credits		2,468		-
Other receivables		45		20
Total prepayments and other current assets	$	6,598	$	4,441

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. During the year ended December 31, 2023, the Company recorded the employee retention credits as a reduction to payroll and related expenses of $6,868 in operating expenses on the consolidated statements of operations with a corresponding receivable included in prepaid expenses and other current assets on the consolidated balance sheets for the respective periods. During the year ended December 31, 2023, the Company received $4,400 in employee retention credits and has a receivable balance remaining of $2,468 as of December 31, 2023.

Income Taxes

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

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% and 0.04%, respectively. The deferred income taxes for the three months ended March 31, 2024 and 2023 was primarily due to deferred tax liabilities on indefinite lived intangible assets.

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 uncertain tax positions or interest and penalties accrued.

24. Income Taxes

The components of the (provision) benefit for income taxes consist of the following:

Schedule of Income Taxes

	2023			2022
	Years Ended December 31,
	2023			2022
Current tax (provision) benefit:
Federal	$	-		$	-
State and local		(88	)		(77	)
Total current tax (provision) benefit		(88	)		(77	)
Deferred tax (provision) benefit:
Federal		(57	)		985
State and local		(77	)		155
Total deferred tax (provision) benefit		(134	)		1,140
Total income tax (provision) benefit	$	(222	)	$	1,063

The components of deferred tax assets and liabilities were as follows:

	2023			2022
	As of December 31,
	2023			2022
Deferred tax assets:
Net operating loss carryforwards	$	52,353		$	51,023
Interest limitation carryforward		10,028			5,444
Tax credit carryforwards		264			264
Allowance for doubtful accounts		388			757
Accrued expenses and other		891			1,340
Lease termination		1,017			1,869
Liquidated damages		794			1,717
Unearned revenue		5,148			3,744
Stock-based compensation		7,229			6,931
Operating lease liability		58			118
Depreciation and amortization		4,146			3,706
Deferred tax assets		82,316			76,913
Valuation allowance		(76,367	)		(65,406	)
Total deferred tax assets		5,949			11,507
Deferred tax liabilities:
Acquisition-related intangibles		(6,548	)		(11,972	)
Total deferred tax liabilities		(6,548	)		(11,972	)
Net deferred tax liabilities	$	(599	)	$	(465	)

The Company must make judgements as to the realization of deferred tax assets that are dependent upon a variety of factors, including the generation of future taxable income, the reversal of deferred tax liabilities, and tax planning strategies. To the extent that the Company believes that recovery is not likely, it must establish a valuation allowance. A valuation allowance has been established for deferred tax assets which the Company does not believe meet the “more likely than not” criteria. The Company’s judgments regarding future taxable income may change due to changes in market conditions, changes in tax laws, tax planning strategies or other factors. If the Company’s assumptions and consequently its estimates change in the future, the valuation allowances it has established may be increased or decreased, resulting in a respective increase or decrease in income tax expense. Based upon the Company’s historical operating losses and the uncertainty of future taxable income, the Company has provided a valuation allowance primarily against its deferred tax assets up to the deferred tax liabilities, except for deferred tax liabilities on indefinite lived intangible assets, as of December 31, 2023 and 2022.

As of December 31, 2023, the Company had federal, state, and local net operating loss carryforwards available of $193,801, $145,968 and $53,002 respectively, to offset future taxable income. Net operating losses for U.S. federal tax purposes of $138,243 do not expire (limited to 80% of taxable income in a given year) and $55,558 will expire, if not utilized, through 2037 in various amounts. As of December 31, 2022, the Company had federal, state, and local net operating loss carryforwards available of $190,070, $133,419 and $51,503, respectively, to offset future taxable income

Sections 382 and 383 of the Internal Revenue Code imposes restrictions on the use of a corporation’s net operating losses, as well as certain recognized built-in losses and other carryforwards, after an ownership change occurs. A section 382 ownership change occurs if one or more stockholders or groups of stockholders who own at least 5% of the Company’s common stock increase their ownership by more than 50 percentage points over their lowest ownership percentage within a rolling three-year period. Future issuances or sales of the Company’s common stock (including certain transactions involving the Company’s common stock that are outside of the Company’s control) could also result in an ownership change under section 382. If an ownership change occurs, Section 382 would impose an annual limit on the amount of pre-change net operating losses and other losses the Company can use to reduce its taxable income generally equal to the product of the total value of the Company’s outstanding equity immediately prior to the ownership change (subject to certain adjustments) and the long-term tax exempt interest rate for the month of the ownership change.

The Company believes that it did have a change in control under these sections in connection with its recapitalization on November 4, 2016 and utilization of the carryforwards would be limited such that the majority of the carryforwards will never be available. Accordingly, the Company has not recorded those net operating loss carryforwards and credit carryforwards in its deferred tax assets. The Company completed a preliminary section 382 analysis as of December 31, 2023 and 2022 and concluded it may have experienced an ownership change as a result of certain equity transactions during the rolling three-year period of 2021 to 2023. The Company concluded that its federal net operating loss carryforwards, including any net operating loss carryforwards as a result of the mergers during 2018 and 2019, resulted in annual limitations on the overall net operating loss carryforward and that an ownership change, if any, would impose an annual limit on the net operating loss carryforwards and could cause federal income taxes (similar provisions apply for state and local income taxes) to be paid earlier than otherwise would be paid if such limitations were not in effect. The federal, state, and local net operating loss carryforwards are stated net of any such anticipated limitations as of December 31, 2023 and 2022.

The provision (benefit) for income taxes on the statements of operations differs from the amount computed by applying the statutory federal income tax rate to loss before the benefit for income taxes, as follows:

	Years Ended December 31,
	2023						2022
	Amount			Percent			Amount			Percent
Federal benefit expected at statutory rate	$	(11,626	)		21.0	%	$	(14,375	)		21.0	%
State and local taxes, net of federal benefit		(2,526	)		4.6	%		(3,429	)		5.0	%
Stock-based compensation		3,472			-6.3	%		3,894			-5.7	%
Unearned revenue		(562	)		1.0	%		(696	)		1.0	%
Interest expense		62			-0.1	%		56			-0.1	%
Gain upon debt extinguishment		-			0.0	%		(760	)		0.0	%
Other differences, net		678			-1.2	%		(997	)		1.6	%
Valuation allowance		10,961			-19.8	%		14,959			-21.9	%
Other permanent differences		(237	)		0.4	%		285			-0.4	%
Income tax provision (benefit) and effective income tax rate	$	222			-0.4	%		(1,063	)		1.6	%

The Company recognizes the tax benefit from uncertain tax positions only if it is “more likely than not” that the tax positions will be sustained on examination by the tax authorities, based on the technical merits of the position. The tax benefit is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company recognizes interest and penalties related to income tax matters in income tax expense. The Company is also required to assess at each reporting date whether it is reasonably possible that any significant increases or decreases to its unrecognized tax benefits will occur during the next 12 months.

The Company did not recognize any uncertain tax position, or any accrued interest and penalties associated with uncertain tax positions for the years ended December 31, 2023 and 2022. The Company files tax returns in the U.S. federal jurisdiction and New York, California, and other states. The Company is generally subject to examination by income tax authorities for three years from the filing of a tax return, therefore, the federal and certain state returns from 2020 forward and the California returns from 2019 forward are subject to examination. The Company currently is under examination by a state tax authority.

The entire disclosure for income tax.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

Schedule of Accrued Expenses

Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Product Information [Line Items]
Total revenue	$ 28,941	$ 28,418	$ 244,203	$ 220,935
Transferred at Point in Time [Member]
Product Information [Line Items]
Total revenue	26,607	24,757	231,439	199,779
Transferred over Time [Member]
Product Information [Line Items]
Total revenue	2,334	3,661	12,764	21,156
UNITED STATES
Product Information [Line Items]
Total revenue	27,411	27,319	234,012	218,110
Other [Member]
Product Information [Line Items]
Total revenue	1,530	1,099	10,191	2,825
Digital Advertising [Member]
Product Information [Line Items]
Total revenue	22,748	19,093	135,376	109,317
Digital Subscriptions [Member]
Product Information [Line Items]
Total revenue	2,334	3,661	12,764	21,156
Licensing And Syndication Revenue [Member]
Product Information [Line Items]
Total revenue	2,300	3,351	18,482	18,173
Product and Service, Other [Member]
Product Information [Line Items]
Total revenue	1,286	551	5,384	1,166
Digital Revenue [Member]
Product Information [Line Items]
Total revenue	28,668	26,656	172,006	149,812
Print Advertising [Member]
Product Information [Line Items]
Total revenue		656	9,881	10,214
Print Subscriptions [Member]
Product Information [Line Items]
Total revenue	273	1,106	62,316	60,909
Print Revenue [Member]
Product Information [Line Items]
Total revenue	$ 273	$ 1,762	$ 72,197	$ 71,123

Schedule of Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 52,353	$ 51,023
Interest limitation carryforward	10,028	5,444
Tax credit carryforwards	264	264
Allowance for doubtful accounts	388	757
Accrued expenses and other	891	1,340
Lease termination	1,017	1,869
Liquidated damages	794	1,717
Unearned revenue	5,148	3,744
Stock-based compensation	7,229	6,931
Operating lease liability	58	118
Depreciation and amortization	4,146	3,706
Deferred tax assets	82,316	76,913
Valuation allowance	(76,367)	(65,406)
Total deferred tax assets	5,949	11,507
Acquisition-related intangibles	(6,548)	(11,972)
Total deferred tax liabilities	(6,548)	(11,972)
Net deferred tax liabilities	$ (599)	$ (465)

Debt (Details Narrative) - USD ($) $ in Thousands			3 Months Ended		12 Months Ended
Debt (Details Narrative) - USD ($) $ in Thousands	Jul. 01, 2023	Dec. 31, 2022	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Mar. 13, 2024	Nov. 27, 2023	Sep. 29, 2023	Aug. 31, 2023	Dec. 15, 2022	Jan. 01, 2022
Short-Term Debt [Line Items]
Interest Payable, Current			$ 5,635		$ 3,824							$ 13,852
Debt Instrument, Face Amount					110,691
Short-Term Debt			102,342		102,309		$ 7,748
Debt Instrument, Periodic Payment, Principal			$ 102,691		102,691
B Riley [Member]
Short-Term Debt [Line Items]
Debt Instrument, Face Amount								$ 2,000	$ 1,000	$ 5,000
Debt Instrument, Periodic Payment, Principal		$ 204		$ 2,998	$ 9,068	$ 7,132
Delayed Draw Term Notes [Member] \| Purchase Agreement [Member]
Short-Term Debt [Line Items]
Debt Instrument, Maturity Date			Dec. 31, 2026		Dec. 31, 2026
Debt Instrument, Interest Rate, Stated Percentage			10.00%		10.00%
SLR Digital Finance LLC [Member]
Short-Term Debt [Line Items]
Debt Instrument, Face Amount			$ 36,000		$ 36,000
Long-Term Line of Credit					$ 40,000
Senior Secured Note [Member]
Short-Term Debt [Line Items]
Debt Instrument, Interest Rate, Increase (Decrease)			10.00%		10.00%
Debt Instrument, Maturity Date			Dec. 31, 2026		Dec. 31, 2026
Debt Instrument, Interest Rate, Stated Percentage		10.10%			10.10%	10.10%
2022 Bridge Notes [Member]
Short-Term Debt [Line Items]
Debt Instrument, Maturity Date		Dec. 31, 2026	Dec. 31, 2026
Debt Instrument, Face Amount		$ 34,805				$ 34,805					$ 36,000
Debt Instrument, Interest Rate, Stated Percentage			12.00%		12.00%
Debt Issuance Costs, Net		$ 100				100					$ 1,272
Debt Instrument, Interest Rate, Effective Percentage											10.00%
Debt Instrument, Interest Rate During Period	1.50%
Principal balance			$ 20,000		$ 20,000
Repayments of Debt			$ 20,000		$ 20,000
Debt Instrument, Periodic Payment, Principal						$ 36,000

Accrued Expenses and Other (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Payables and Accruals [Abstract]

Accrued Expenses and Other – Accrued expenses and other are summarized as follows:

	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

Accrued expenses and other are summarized as follows:

Schedule of Accrued Expenses

	2023		2022
	As of December 31,
	2023		2022
General accrued expenses	$	6,486	$	6,339
Accrued payroll and related taxes		5,448		5,221
Accrued publisher expenses		7,596		4,911
Accrued interest		3,824		-
Liabilities in connection with acquisitions and dispositions		1,119		1,123
Assumed lease liability		1,328		-
Lease termination liability		4,481		4,753
Other accrued expenses		489		755
Total accrued expenses and other	$	30,771	$	23,102

Schedule of Fair Value of Stock Options Assumptions (Details) - 2022 Plan [Member] - Black-Scholes Option Pricing Model [Member]	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Up-List [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum	3.46%	0.97%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum	4.82%	4.36%
Expected dividend yield	0.00%	0.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum	46.43%	42.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum	47.27%	82.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term	6 years
Up-List [Member] \| Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term		3 years
Up-List [Member] \| Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term		6 years
No Up-List [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum		0.97%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum		1.44%
Expected dividend yield		0.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum		82.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum		137.00%
No Up-List [Member] \| Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term		3 years
No Up-List [Member] \| Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term		6 years

Stockholders’ Deficiency (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Summary of Restricted Stock Award Activity

A summary of the restricted stock award activity during the year ended December 31, 2023 is as follows:

	Number of Shares			Weighted Average Grant-Date Fair Value
Restricted stock awards outstanding at January 1, 2023		97,403		$	16.94
Vested		(97,403	)		(16.94	)
Restricted stock awards outstanding at December 31, 2023		-

Summary of Warrant Activity

A summary of the Financing Warrants activity during the year ended December 31, 2023 is as follows:

Summary of Warrant Activity

Weighted

Average

Weighted

Remaining

Average

Contractual

Number of

Exercise

Life

Price

(in Years)

Financing Warrants outstanding at January 1, 2023

107,956

10.61

0.58

Expired

(107,956

)

10.61

Financing Warrants outstanding at December 31, 2023

Summary of Liquidated Damages (Details) - USD ($)
$ in Thousands

Mar. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

$ 898

$ 2,002

940

2,740

1,162

1,086

1,595

MDB Common Stock To Be Issued [Member]

3,000

2,924

6,337

^[1]

^[1],[2]

^[3]

^[1]

^[1],[2]

^[3]

^[1]

^[1],[2]

^[3]

Series H Convertible Preferred Stock [Member]

^[1]

^[1],[2]

^[3]

565

618

574

626

694

659

570

Convertible Debentures [Member]

1,833

1,798

1,814

^[4]

^[5]

144

^[4]

704

^[5]

^[4]

280

^[5]

Series J Convertible Preferred Stock [Member]

220

216

^[4]

984

^[5]

152

^[4]

932

^[5]

152

^[4]

932

^[5]

137

129

^[4]

525

^[5]

Series K Convertible Preferred Stock [Member]

441

433

^[4]

2,389

^[5]

166

^[4]

437

^[5]

^[4]

478

^[5]

255

226

^[4]

220

^[5]

$ 491

$ 462

^[4]

$ 1,135

^[5]

[1]	Consists of shares of common stock issuable to MDB Capital Group, LLC (“MDB”).
[2]	Shares of common stock issuable to MDB Capital Group, LLC (“MDB”) (see Common Stock to be Issued in Note 21).
[3]	Shares of common stock issuable to MDB.
[4]	Represents previously issued and converted debt or equity securities.
[5]	Represents previously issued and converted debt or equity securities.

Restricted Stock Liabilities (Details Narrative) - Restricted Stock [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock Repurchased During Period, Shares \| shares	26,214
Payments for Repurchase of Equity	$ 2,307
Restricted stock principal amount	2,152
Restricted stock interest payment	$ 155

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

Summary of Liquidated Damages

Liquidated Damages (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Liquidated damages payable	$ 583	$ 1,140
Debt Instrument, Increase, Accrued Interest	$ 583	652
Series K Convertible Preferred Stock [Member]
Liquidated damages payable		$ 488

Liquidated Damages Payable (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Liquidated Damages Payable

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”).

Obligations with respect to the liquidated damages payable are summarized as follows:

Summary of Liquidated Damages

	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 (2)		-		144		72		216
Series J convertible preferred stock (2)		152		152		129		433
Series K convertible preferred stock (2)		166		70		226		462
Total	$	898	$	940	$	1,086	$	2,924

(1)	Shares of common stock issuable to MDB Capital Group, LLC (“MDB”) (see Common Stock to be Issued in Note 21).
(2)	Represents previously issued and converted debt or equity securities.

	As of December 31, 2022
	Registration Rights Damages		Public Information Failure Damages		Accrued Interest		Balance
MDB common stock to be issued (1)	$	15	$	-	$	-	$	15
Series H Preferred Stock		618		626		570		1,814
Convertible debentures (2)		-		704		280		984
Series J convertible preferred stock (2)		932		932		525		2,389
Series K convertible preferred stock (2)		437		478		220		1,135
Total	$	2,002	$	2,740	$	1,595	$	6,337

(1)	Shares of common stock issuable to MDB.
(2)	Represents previously issued and converted debt or equity securities.

Preferred Stock (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	May 30, 2000	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2024	Feb. 09, 2024	Aug. 10, 2023
Class of Stock [Line Items]
Preferred Stock, Shares Authorized		1,000,000		1,000,000
Preferred Stock, Par or Stated Value Per Share		$ 0.01		$ 0.01	$ 0.0001
Series G Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Temporary Equity, Shares Authorized		1,800		1,800
Temporary Equity, Shares Outstanding				168
Series H Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Par or Stated Value Per Share		$ 1,000
Temporary Equity, Shares Outstanding			168
Conversion of Stock, Shares Converted		710	12,748
Debt Instrument, Convertible, Conversion Price						$ 7.26
Series H Preferred Stock [Member]
Class of Stock [Line Items]
Temporary Equity, Shares Authorized		23,000		23,000
Temporary Equity, Shares Outstanding				0
Series G Preferred Stock [Member]
Class of Stock [Line Items]
Temporary Equity, Shares Outstanding	168.496	0	14,356
Sale of Stock, Number of Shares Issued in Transaction	1,800
Conversion of Stock, Shares Converted	1,631.504
Preferred Stock, Liquidation Preference Per Share	$ 1,000
Series G Preferred Stock [Member] \| Original Investor [Member]
Class of Stock [Line Items]
Temporary Equity, Shares Outstanding		168.496
Preferred Stock, Liquidation Preference, Value		$ 168
Temporary Equity, Liquidation Preference Per Share		$ 1,000

Schedule of Common Stock Equivalent Shares Excluded From Diluted Calculations (Details) - shares	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	5,878,792	10,282,707	6,674,839,000	10,398,732,000
Series G Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	8,582	8,582	8,582,000	8,582,000
Series H Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total				1,981,128,000
Financing Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	39,774	107,956		107,956,000
ABG Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	999,540	999,540	999,540,000	999,540,000
All Hip Hop Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	5,682	5,682	5,682,000	5,682,000
Publisher Partner Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	9,800	11,002	9,800,000	4,154,000
Restricted Stock Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total				97,403,000
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	329,533	888,152	199,267,000	994,766,000
Common Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total			5,451,968,000	6,199,521,000
Series H Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total		1,981,128
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total		97,403
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	4,485,881	6,183,262

Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2022
General accrued expenses	$ 3,850	$ 6,486	$ 6,339
Accrued payroll and related taxes	5,427	5,448	5,221
Accrued publisher expenses	4,765	7,596	4,911
Accrued interest	5,635	3,824		$ 13,852
Liabilities in connection with acquisitions and dispositions	740	1,119	1,123
Assumed lease liability	1,379	1,328
Lease termination liability	4,518	4,481	4,753
Other accrued expenses	474	489	755
Total accrued expenses and other	$ 26,788	30,771	$ 23,102
Restatement [Member]
General accrued expenses		5,551
Accrued payroll and related taxes		4,515
Accrued publisher expenses		7,596
Accrued interest		3,824
Liabilities in connection with acquisitions and dispositions		1,119
Assumed lease liability		1,328
Lease termination liability		4,481
Other accrued expenses		489
Total accrued expenses and other		$ 28,903

Summary of Restricted Stock Award Activity (Details)	12 Months Ended
Summary of Restricted Stock Award Activity (Details)	Dec. 31, 2023 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Shares, Vested	(583,143)
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Shares, Restricted Stock Awards Outstanding, Beginning balance	97,403
Weighted Average Grant-Fair Value Date, Beginning balance \| $ / shares	$ 16.94
Number of Shares, Vested	(97,403)
Weighted Average Grant-Fair Value Date, Vested \| $ / shares	$ (16.94)
Number of Shares, Restricted stock awards outstanding, Unvested at Ending balance

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Summary of Platform Development Costs

Summary of Purchase Price Allocation (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Apr. 01, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 42,575	$ 42,575	$ 39,344		$ 19,619
Net assets acquired				$ 15,854
Athlon Holdings Inc [Member]
Business Acquisition [Line Items]
Cash				2,604
Accounts receivable				10,855
Other current assets				1,337
Equity investment				2,450
Fixed assets				108
Digital content				355
Advertiser relationships				6,202
Trade names				2,261
Goodwill				2,587
Accounts payable				(7,416)
Accrued expenses and other				(2,440)
Unearned revenue				(1,203)
Other long-term liabilities				(543)
Deferred tax liabilities				$ (1,303)

Schedule of Composition of Purchase Price (Details) - Athlon Holdings Inc [Member] $ in Thousands	Apr. 01, 2022 USD ($)
Business Acquisition [Line Items]
Cash	$ 12,085
Common stock	3,141
Deferred cash payments, as discounted	628
Total purchase consideration	$ 15,854

Platform Development (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Platform Development

Platform Development – Platform development costs are summarized as follows:

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

Platform development costs are summarized as follows:

Summary of Platform Development Costs

	2023			2022
	As of December 31,
	2023			2022
Platform development	$	26,054		$	21,493
Less accumulated amortization		(17,331	)		(11,163	)
Net platform development	$	8,723		$	10,330

Summary of Platform Development Cost Activity

A summary of platform development activity for the three months ended March 31, 2024 is as follows:

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

A summary of platform development activity is as follows:

	As of December 31,
	2023			2022
Platform development beginning of year	$	21,493		$	21,997
Payroll-based costs capitalized		3,773			5,179
Less dispositions		(164	)		(7,357	)
Total capitalized payroll-based costs		25,102			19,819
Stock-based compensation		1,016			1,884
Impairments		(64	)		(210	)
Platform development end of year	$	26,054		$	21,493

Prepayments and Other Current Assets (Details Narrative) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2023	Mar. 31, 2024	Dec. 31, 2022
Prepayments And Other Current Assets
Other Labor-related Expenses	$ 6,868	$ 6,868
Employee retention payable		4,400
Employee retention credits		$ 2,468	$ 2,468

Schedule of Cash and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Cash and cash equivalents	$ 4,003	$ 9,284	$ 15,961	$ 13,871
Restricted cash				502
Total cash, cash equivalents, and restricted cash	$ 4,003	$ 9,284	$ 16,463	$ 14,373

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income Taxes

The components of the (provision) benefit for income taxes consist of the following:

Schedule of Income Taxes

	2023			2022
	Years Ended December 31,
	2023			2022
Current tax (provision) benefit:
Federal	$	-		$	-
State and local		(88	)		(77	)
Total current tax (provision) benefit		(88	)		(77	)
Deferred tax (provision) benefit:
Federal		(57	)		985
State and local		(77	)		155
Total deferred tax (provision) benefit		(134	)		1,140
Total income tax (provision) benefit	$	(222	)	$	1,063

Schedule of Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities were as follows:

	2023			2022
	As of December 31,
	2023			2022
Deferred tax assets:
Net operating loss carryforwards	$	52,353		$	51,023
Interest limitation carryforward		10,028			5,444
Tax credit carryforwards		264			264
Allowance for doubtful accounts		388			757
Accrued expenses and other		891			1,340
Lease termination		1,017			1,869
Liquidated damages		794			1,717
Unearned revenue		5,148			3,744
Stock-based compensation		7,229			6,931
Operating lease liability		58			118
Depreciation and amortization		4,146			3,706
Deferred tax assets		82,316			76,913
Valuation allowance		(76,367	)		(65,406	)
Total deferred tax assets		5,949			11,507
Deferred tax liabilities:
Acquisition-related intangibles		(6,548	)		(11,972	)
Total deferred tax liabilities		(6,548	)		(11,972	)
Net deferred tax liabilities	$	(599	)	$	(465	)

Schedule of Tax Benefit and Effective Income Tax

	Years Ended December 31,
	2023						2022
	Amount			Percent			Amount			Percent
Federal benefit expected at statutory rate	$	(11,626	)		21.0	%	$	(14,375	)		21.0	%
State and local taxes, net of federal benefit		(2,526	)		4.6	%		(3,429	)		5.0	%
Stock-based compensation		3,472			-6.3	%		3,894			-5.7	%
Unearned revenue		(562	)		1.0	%		(696	)		1.0	%
Interest expense		62			-0.1	%		56			-0.1	%
Gain upon debt extinguishment		-			0.0	%		(760	)		0.0	%
Other differences, net		678			-1.2	%		(997	)		1.6	%
Valuation allowance		10,961			-19.8	%		14,959			-21.9	%
Other permanent differences		(237	)		0.4	%		285			-0.4	%
Income tax provision (benefit) and effective income tax rate	$	222			-0.4	%		(1,063	)		1.6	%

Schedule of Unrecognized Compensation Expense (Details) - Stock Based Compensation [Member] - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense	$ 3,014	$ 5,409
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 5 months 12 days	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	$ 1,191
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 6 months 18 days	1 year 10 months 2 days
Common Stock Awards [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense	$ 1,939	$ 4,192
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 4 months 20 days	1 year 3 months 29 days
ABG Warrants [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense		$ 26
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition		2 years 3 days
Warrant [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense	$ 23
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 9 months 7 days

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Stockholders’ Deficiency (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands														3 Months Ended		12 Months Ended
	Mar. 21, 2024	Feb. 14, 2024	Feb. 09, 2024	Mar. 31, 2023	Mar. 31, 2023	Jan. 11, 2023	Apr. 02, 2022	Mar. 11, 2022	Feb. 15, 2022	Jan. 21, 2022	Jan. 12, 2022	Jun. 14, 2019	Jan. 04, 2018	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Nov. 01, 2023	Nov. 02, 2022	Mar. 10, 2022	Mar. 09, 2022	Jan. 26, 2022	Dec. 18, 2020	Oct. 26, 2020	May 20, 2020
Class of Stock [Line Items]
Common Stock, Shares Authorized														1,000,000,000		1,000,000,000	1,000,000,000							100,000,000
Sale of Stock, Price Per Share																					$ 8.25
Proceeds from Issuance Initial Public Offering																	$ 32,058
Payments of Stock Issuance Costs															$ 69		1,568
Conversion of Stock, Shares Issued																1,759,224
Preferred Stock, Par or Stated Value Per Share			$ 0.0001											$ 0.01		$ 0.01
Stock Issued During Period, Shares, New Issues			5,000,000
Loss Contingency, Damages Sought, Value	$ 20,000
Stock Issued During Period, Value, New Issues														$ 12,000			30,490
Settlement of liquidated damages															46	$ 130	323
Payment, Tax Withholding, Share-Based Payment Arrangement														$ 479	1,423		$ 4,468
Sale of Stock, Consideration Received on Transaction																$ 32,058
Common Stock, Par or Stated Value Per Share														$ 0.01		$ 0.01	$ 0.01
Share Price			$ 5.00													$ 2.38
Proceeds from Issuance of Private Placement														$ 12,000
Underwriting Public Offering [Member]
Class of Stock [Line Items]
Sale of Stock, Number of Shares Issued in Transaction									4,181,603
Proceeds from Issuance Initial Public Offering									$ 34,498
Payments of Stock Issuance Costs																$ 1,568
Proceeds from Issuance of Common Stock																30,490
Underwriting Overallotment [Member]
Class of Stock [Line Items]
Sale of Stock, Number of Shares Issued in Transaction								545,239	3,636,364
B Riley [Member]
Class of Stock [Line Items]
Payments of Stock Issuance Costs																2,440
Private Placement [Member] \| MDB Capital Group LLC [Member]
Class of Stock [Line Items]
Sale of Stock, Number of Shares Issued in Transaction													2,701
Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Stock Issued During Period, Value, New Issues																$ 2,955	$ 8,707
Fexy Studios Acquisition [Member]
Class of Stock [Line Items]
Fair value shares						274,692
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable						$ 2,000
Parade Stock [Member]
Class of Stock [Line Items]
Fair value shares							314,103
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable							$ 3,141
Common Stock [Member]
Class of Stock [Line Items]
Conversion of Stock, Shares Issued																97,980
Stock Issued During Period, Shares, Conversion of Convertible Securities																1,981,128	97,980
Conversion of Stock, Amount Converted																$ 1,348
Acquisition shares																274,692
Stock Issued During Period, Shares, Acquisitions															274,692	38,582	330,863
Stock Issued During Period, Shares, New Issues														5,555,555			4,181,603
Stock Issued During Period, Value, New Issues														$ 56			$ 42
Settlement of liquidated damages
Stock Issued During Period, Shares, Restricted Stock Award, Gross														678,165	397,376	429,528	832,233
Stock Repurchased During Period, Shares																	(26,214)
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period															795	795	96,408
Connection with mergers shares																38,582	7,851
Stock Issued During Period, Shares, Issued for Services																	14,617
Common Stock [Member] \| Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Gross														678,165	397,376
Common Stock [Member] \| Restricted Common Stock [Member]
Class of Stock [Line Items]
Stock Repurchased During Period, Shares																202,382	373,394
Payment, Tax Withholding, Share-Based Payment Arrangement																$ 1,423	$ 4,468
All Hip Hop Warrants [Member]
Class of Stock [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights																									5,682
Class of Warrant or Right, Exercise Price of Warrants or Rights																									$ 14.30
Publisher Partner Warrants [Member]
Class of Stock [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights																									6,819	90,910
ABG Warrants [Member]
Class of Stock [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights												999,540
Warrants and Rights Outstanding, Term												10 years
ABG Warrans [Member]
Class of Stock [Line Items]
Warrant or Right, Reason for Issuance, Description												(1) under certain circumstances the Company may require ABG to exercise all (and not less than all) of the warrants, in which case all of the warrants will be vested; (2) all of the warrants automatically vest upon certain terminations of the Licensing Agreement by ABG or upon a change of control of the Company; and (3) ABG has the right to participate, on a pro-rata basis (including vested and unvested warrants, exercised or unexercised), in any future equity issuance of the Company (subject to customary exceptions).
ABG Time Based Warrants [Member]
Class of Stock [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights																399,816
ABG Performance Based Warrants [Member]
Class of Stock [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights																$ 599,724
New Publisher Partner Warrants [Member]
Class of Stock [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights																				33,000
Series H Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Conversion of Stock, Shares Issued																1,981,128
Stock Issued During Period, Shares, Conversion of Convertible Securities																14,356	14,356
Conversion of Stock, Shares Converted																710	12,748
Conversion of Stock, Amount Converted																$ 13,008	$ 710
Preferred Stock, Par or Stated Value Per Share																$ 1,000
Employees [Member] \| Common Stock [Member] \| Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Gross																429,528		832,233
Stock Purchase Agreements [Member]
Class of Stock [Line Items]
Payments of Stock Issuance Costs					$ 289
Proceeds from Issuance of Private Placement				$ 1,232	$ 11,211
Stock Purchase Agreements [Member] \| Purchasers [Member]
Class of Stock [Line Items]
Sale of Stock, Number of Shares Issued in Transaction				317,518	2,963,918
Sale of Stock, Price Per Share				$ 3.88	$ 3.88										$ 3.88
Proceeds from Issuance Initial Public Offering					$ 11,500
Payments of Stock Issuance Costs					356
Proceeds from Issuance of Common Stock					$ 11,144
Shares Issued, Price Per Share				$ 3.88	$ 3.88										$ 3.88
Proceeds from Issuance of Private Placement					$ 11,500
Asset Purchase Agreement [Member]
Class of Stock [Line Items]
Shares, Issued																			330,863			16,760
Several Stock Purchase Agreements [Member] \| Several Investors [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues																47,252	505,655
Loss Contingency, Damages Sought																(i)
Loss Contingency, Damages Sought, Value																$ 499	$ 7,008
Shares Issued, Price Per Share																	$ 13.86
Stock Issued During Period, Value, New Issues																	$ 6,685
Settlement of liquidated damages																	$ 323
Exercise Of Stock Option [Member]
Class of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period																795	96,408
Stock issued during period value for cash																$ 0	$ 95
Services Agreement [Member]
Class of Stock [Line Items]
Shares, Issued											1,134												13,483
Shares Issued, Price Per Share											$ 13.20						$ 184,000						$ 12.54
Stock Issued During Period, Shares, Issued for Services										14,617	14,617
Subscription Agreement [Member] \| Private Placement [Member]
Class of Stock [Line Items]
Share Price		$ 2.16
Proceeds from Issuance of Private Placement		$ 12,000
Subscription Agreement [Member] \| Common Stock [Member] \| Private Placement [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues		5,555,555

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Net Sales	$ 28,941	$ 28,418	$ 244,203	$ 220,935
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		132,923
Gross Profit	8,933	10,328		88,012
Operating Expenses
Selling and marketing	4,564	5,847		72,489
General and administrative expenses	10,135	12,975		53,499
Depreciation and amortization	987	1,096		17,650
Loss on impairment of assets	1,198	119		257
Loss on sale of assets
Total operating expenses	16,884	20,037		143,895
Operating Loss	(7,951)	(9,709)		(55,883)
Nonoperating Expense
Change in fair value of contingent consideration	(313)	(499)	(1,010)
Interest expense	(4,339)	(4,182)	(17,965)	(11,428)
Liquidated damages	(76)	(127)		(1,140)
Total nonoperating expense	(4,728)	(4,808)		(12,568)
Loss before income taxes	(12,679)	(14,517)		(68,451)
Income taxes	(41)	(7)	(222)	1,063
Loss from continuing operations	(12,720)	(14,524)		(67,388)
Loss from discontinued operations, net of tax	(90,638)	(4,853)		(3,470)
Net Loss	$ (103,358)	$ (19,377)	$ (55,582)	$ (70,858)
Basic and diluted net loss per common share:
Basic net loss per common share, continuing operations	$ (0.48)	$ (0.78)	$ (2.49)	$ (3.82)
Dilutied net loss per common share, continuing operations	(0.48)	(0.78)	(2.49)	(3.82)
Basic net loss per common share, discontinued operations	(3.43)	(0.26)		(0.20)
Diluted net loss per common share, discontinued operations	(3.43)	(0.26)		(0.20)
Basic net loss per common share	(3.91)	(1.04)	(2.49)	(4.02)
Diluted net loss per common share	$ (3.91)	$ (1.04)	$ (2.49)	$ (4.02)
Weighted average number of common shares outstanding basic	26,443,764	18,718,555	22,323,763	17,625,619
Weighted average number of common shares outstanding diluted	26,443,764	18,718,555	22,323,763	17,625,619
Bridge Media Networks L L C [Member]
Net Sales	$ 2,841	$ 866	$ 6,799	$ 341
Cost of Sales	826	336	1,926	182
Gross Profit	2,015	530	4,873	159
Operating Expenses
General and administrative expenses	3,962	2,250	13,804	284
Advertising and promotional expenses	82	9	598	2
Total operating expenses	4,044	2,259	14,402	286
Operating Loss	(2,029)	(1,729)	(9,529)	(127)
Nonoperating Expense
Interest income			3
Interest expense	38	8	(512)
Total nonoperating expense	38	8	(509)
Net Loss	$ (2,067)	$ (1,737)	(10,038)	$ (127)
Previously Reported [Member]
Net Sales			244,203
Cost of revenue (includes amortization of platform development and developed technology for 2024 and 2023 of $1,549 and $2,369, respectively)			142,240
Gross Profit			101,963
Operating Expenses
Selling and marketing			74,245
General and administrative expenses			44,152
Depreciation and amortization			18,924
Loss on impairment of assets			119
Loss on sale of assets			325
Total operating expenses			137,765
Operating Loss			(35,802)
Nonoperating Expense
Change in fair value of contingent consideration			(1,010)
Interest expense			(17,965)
Liquidated damages			(583)
Total nonoperating expense			(19,558)
Loss before income taxes			(55,360)
Income taxes			(222)
Loss from continuing operations			(55,582)
Loss from discontinued operations, net of tax
Net Loss			$ (55,582)

Schedule of Supplemental Proforma Information (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Net loss	$ (103,358)	$ (19,377)	$ (55,582)	$ (70,858)
Total continuing operations supplemental pro forma revenue				263,662
Total continuing operations supplemental pro forma net loss				(72,798)
Parade [Member]
Business Acquisition [Line Items]
Revenue				40,071
Net loss				(2,494)
Total continuing operations supplemental pro forma revenue				55,981
Total continuing operations supplemental pro forma net loss				(3,070)
Arena [Member]
Business Acquisition [Line Items]
Total continuing operations supplemental pro forma revenue				207,681
Total continuing operations supplemental pro forma net loss				(67,788)
Adjustments [Member]
Business Acquisition [Line Items]
Total continuing operations supplemental pro forma net loss				$ (1,940)

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4

Reference 17: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-10

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-1

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Summary of Significant Accounting Policies (Details Narrative)		3 Months Ended		12 Months Ended
	Nov. 05, 2023	Mar. 31, 2024 USD ($) Segment	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 01, 2023 USD ($)
Product Information [Line Items]
Debt Instrument, Face Amount				$ 110,691,000
Subscription refund liability				449,000	$ 845,000
Unearned revenue				523,000	1,154,000
Contract with Customer, Liability, Cumulative Catch-up Adjustment to Revenue, Modification of Contract				554,000	2,986,000
Restricted Cash, Current					502,000
Accounts Receivable, after Allowance for Credit Loss				44,811,000	33,950,000
Capitalized Contract Cost, Amortization				38,112,000	37,190,000
Capitalized Contract Cost, Net				29,706,000	25,931,000
Capitalized Contract Cost, Net, Noncurrent				7,215,000	14,133,000
Capitalized Contract Cost, Net, Current				$ 29,706,000	25,931,000
Liquidated damages description				The Company incurred liquidated damages when: (i) a registration rights agreement provides for damages if the Company does not register the shares of the Company’s common stock within the requisite time frame (the “Registration Rights Damages”), which, in general, provides for a cash payment equal to 1.0% per month of the amount invested, on a daily pro rata basis for any portion of a month, as partial liquidated damages per month, upon the occurrence of certain events, up to a maximum amount of 6.0% of the aggregate amount invested, subject to interest at the rate of 1.0% per month until paid in full; and (ii) a securities purchase agreement provides for damages if the Company fails for any reason to satisfy a public information requirement within the requisite time frame with the Securities and Exchange Commission (“SEC”) (the “Public Information Failure Damages”), which, in general, provides for a cash payment equal to 1.0% of the aggregate amount invested for each 30-day period, or pro rata portion thereof, as partial liquidated damages per month, up to a maximum of 6 months, subject to interest at the rate of 1.0% per month until paid in full.
Number of Reportable Segments \| Segment		1
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent		$ 12,720,000	$ 14,524,000		67,388,000
Cash and Cash Equivalents, at Carrying Value		4,003,000	15,961,000	$ 9,284,000	13,871,000
Working capital deficit		225,009,000		145,622,000
Revenue		28,941,000	28,418,000	244,203,000	220,935,000
Advertising and promotional expenses				615,000
Bridge Media Networks L L C [Member]
Product Information [Line Items]
Advertising Expense		82,000	9,000	598,000	2,000
Cash and Cash Equivalents, at Carrying Value		173,000		47,000	18,000
Allowance for doubtful accounts		99,000		136,000	25,000
Revenue		2,841,000	866,000	6,799,000	341,000
Advertising and promotional expenses		$ 82,000	$ 9,000	$ 598,000	2,000
Bridge Media Networks L L C [Member] \| Minimum [Member]
Product Information [Line Items]
Property plant and equipmen estimated useful lives		1 year		1 year
Bridge Media Networks L L C [Member] \| Maximum [Member]
Product Information [Line Items]
Property plant and equipmen estimated useful lives		38 years		38 years
Common Stock [Member] \| Bridge Media Networks L L C [Member]
Product Information [Line Items]
Stock consideration percentage	65.00%
Selling and Marketing Expense [Member]
Product Information [Line Items]
Advertising Expense				$ 4,372,000	$ 5,987,000
Revenue from Contract with Customer Benchmark [Member] \| Customer Concentration Risk [Member] \| Customer [Member]
Product Information [Line Items]
Percentage of revenue				10.00%	13.90%
Accounts Payable [Member] \| Customer Concentration Risk [Member] \| Customer [Member]
Product Information [Line Items]
Percentage of revenue				12.20%	14.10%
Revenue Benchmark [Member] \| Customer Concentration Risk [Member] \| One Customers [Member] \| Bridge Media Networks L L C [Member]
Product Information [Line Items]
Percentage of revenue				66.00%
Revenue Benchmark [Member] \| Customer Concentration Risk [Member] \| Customers [Member] \| Bridge Media Networks L L C [Member]
Product Information [Line Items]
Percentage of revenue		82.00%	43.00%
Digital And Print Subscriptions [Member]
Product Information [Line Items]
Unearned revenue				$ 68,985,000
Advertising [Member] \| Bridge Media Networks L L C [Member]
Product Information [Line Items]
Revenue		$ 2,500,000	$ 493,000	5,400,000
License and Service [Member] \| Bridge Media Networks L L C [Member]
Product Information [Line Items]
Revenue		$ 364,000	$ 372,000	$ 1,400,000
Licensing Services And Advertising [Member] \| Bridge Media Networks L L C [Member]
Product Information [Line Items]
Revenue					$ 341,000
B Riley FBR Inc [Member]
Product Information [Line Items]
Debt Instrument, Face Amount						$ 110,691

Intangible Assets (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Amortization of Acquisition Costs	$ 920	$ 1,778	$ 21,022	$ 20,748
Amortization of Intangible Assets	4,870	7,021		26,570
Finite-Lived Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Impairment of Intangible Assets, Finite-Lived	1,198	0		47
Developed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 0	$ 796	$ 2,130	$ 2,831

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Net loss from discontinued operations

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Common stock par value	$ 0.01	$ 0.01	$ 0.01
Common stock shares authorized	1,000,000,000	1,000,000,000	1,000,000,000
Common stock shares issued	29,513,563	23,836,706	18,303,193
Common stock shares outstanding	29,513,563	23,836,706	18,303,193
Series G Redeemable And Convertible Preferred Stock [Member]
Temporary equity par value	$ 0.01	$ 0.01	$ 0.01
Temporary equity liquidation per share	$ 1,000	$ 1,000	$ 1,000
Temporary equity shares authorized	1,800	1,800	1,800
Temporary equity liquidation preference	$ 168	$ 168	$ 168
Temporary equity shares issued	168	168	168
Temporary equity shares outstanding	168	168	168
Temporary equity common shares issuable upon conversion	8,582	8,582	8,582
Series H Redeemable And Convertible Preferred Stock [Member]
Temporary equity par value		$ 0.01	$ 0.01
Temporary equity liquidation per share		$ 1,000	$ 1,000
Temporary equity shares authorized		23,000	23,000
Temporary equity liquidation preference		$ 0	$ 14,356
Temporary equity shares issued		0	14,356
Temporary equity shares outstanding		0	14,356
Temporary equity common shares issuable upon conversion		0	1,981,128

Schedule of Discontinued Operations (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Dec. 31, 2023

Dec. 31, 2022

Operating expense

$ (90,638)

$ (4,853)

$ (3,470)

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

Parade Print [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Revenue

26,817

Cost of revenue

23,015

Gross profit

3,802

Operating expense

Selling and marketing

5,396

General and administrative()

1,722

Loss on impairment of assets

209

Total operating expenses

7,327

Loss from discontinued operations

(3,525)

Net loss from discontinued operations

(3,470)

Sports Illustrated Media Business [Member]

(55)

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

Loss on impairment of assets

39,391

Total operating expenses

98,487

15,870

Loss from discontinued operations

(90,620)

(4,853)

Net loss from discontinued operations

(90,638)

(4,853)

Amortization of intangible assets

2,401

3,670

Subscription acquisition costs, current portion

(18)

Assets

Accounts receivable, net

5,691

13,135

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

(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 $

Fair Value

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

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. Quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2. Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and

Level 3. Assets or liabilities for which fair value is based on valuation models with significant unobservable pricing inputs and which result in the use of management estimates.

The Company 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 per share, as a derivative liability, which requires the Company to carry such amounts on the condensed consolidated balance sheets as a liability at fair value, as adjusted at each reporting period-end.

Fexy Put Option – On February 15, 2024, in connection with the contingent consideration related to the acquisition of Fexy Studios, the Company agreed to pay the amount due of $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 in April 2024) and May (paid $620 in May 2024) of 2024 comprised of the following: (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. As of March 31, 2024, the Company owed $1,238 on the Fexy Put Option as reflected in accounts payable on the condensed consolidated balance sheets. In addition, the Company recorded the repurchase of 274,692 shares of the Company’s common stock issued in connection with the acquisition, resulting in a loss of $379 as reflected on the condensed consolidated statements of stockholders’ deficiency.

Liabilities measured at fair value on a recurring basis consisted of the following as of December 31, 2023:

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

Contingent Consideration – The fair value of the contingent consideration was primarily dependent on the common stock trading price on the first anniversary of the closing of Fexy Studios, or January 11, 2024. As of December 31, 2023, the estimated fair value was calculated based on the $8.10 put option amount based on the exercise price of the Company’s common stock at the acquisition date, less the $2.38 the Company’s common stock trading price as of the reporting date, or $5.72 per share, multiplied by the number of shares subject to the put option of 274,692, which approximated the value if the Black-Scholes option-pricing model was used given the proximity date of the put option.

For the three months ended March 31, 2024 and 2023, the change in valuation of the contingent consideration of $313 and $499, respectively, was recognized in other expense on the condensed consolidated statements of operations.

17. Fair Value Measurement

Fair Value

The Company’s financial instruments consist of level 1, Level 2 and level 3 assets as of December 31, 2023 and 2022. As of December 31, 2023 and 2022, the Company’s cash and cash equivalents of $9,284 and $13,871, respectively, were Level 1 assets and included savings deposits, overnight investments, and other liquid funds with financial institutions.

The Company accounted for certain common stock issued in connection with the acquisition of Fexy Studios that is subject to a put option (which provides for a cash payment to the sellers on the first anniversary date of the closing (or 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, or $8.10 per share), as a derivative liability, which requires the Company to carry such amounts on its consolidated balance sheets as a liability at fair value, as adjusted at each reporting period-end (further details are provided under the heading Fexy Put Option in Note 28).

Financial instruments measured at fair value during the year ended December 31, 2023, related to the Company’s current debt, with a carrying value of $7,887 and $102,309 for the Bridge Notes and Debt as of December 31, 2023, respectively, approximates fair value due to their short nature and based on current market interest rates for debt instruments of similar credit standing.

Financial instruments measured at fair value during the year consisted of the following:

	As of December 31, 2023
	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	$	-

	As of December 31, 2022
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Senior Secured Notes	$	61,787	$	-	$	61,787	$	-

Contingent Consideration – The fair value of the contingent consideration is primarily dependent on the common stock trading price on the first anniversary of the closing of the Fexy Studios acquisition, or January 11, 2024. The estimated fair value was calculated based on the $8.10 put option amount based on the exercise price of the Company’s common stock at the acquisition date, less the $2.38 the Company’s common stock trading price as of the reporting date, or $5.72 per share, multiplied by the number of shares subject to the put option of 274,692, which approximated the value if the Black-Scholes option-pricing model was used given the proximity date of the put option. For the year ended December 31, 2023, the change in valuation of the contingent consideration of $1,010 was recognized in other expenses on the consolidated statement of operations. Further details are provided under the heading Fexy Put Option in Note 28.

Senior Secured Notes – The carrying value of the Senior Secured Notes (as defined below) approximates fair value based on current market interest rates for debt instruments of similar credit standing and, consequently, their fair values are based on Level 2 inputs.

The quantitative information utilized in the fair value calculation of the Level 3 liabilities are as follows:

Unearned Revenue – The fair value of unearned revenue remaining in connection with the 2019 acquisitions of Sports Illustrated licensed brands, was determined with the following inputs: (1) projection of when unearned revenue will be earned; (2) expense necessary to fulfill the subscriptions; (3) gross up of the fulfillment costs to include a market participant level of profitability; (4) slight premium to the fulfillment-costs plus a reasonable profit metric; and (5) reduce projected future cash flows to present value using an appropriate discount rate. The unearned revenue remaining from the acquisitions as of December 31, 2023 and 2022 was $523 and $1,154, respectively.

The changes in unearned revenue with inputs classified as Level 3 of the fair value hierarchy are reflected within revenue on the consolidated statements of operations.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

Liquidated Damages

12 Months Ended

Dec. 31, 2023

Liquidated Damages

Liquidated Damages

23. Liquidated Damages

During the years December 31, 2023 and 2022, the Company recorded liquidated damages of $583 and $1,140 (including accrued interest of $583 and $652), respectively. During the year December 31, 2022, liquidated damages of $488 were recorded as a result of Registration Rights Damages resulting from not registering the Series K convertible preferred stock timely.

Schedule of Future Estimated Amortization expense For Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024		$ 14,544
2025		3,427
2026		3,214
2027		3,214
2028		2,964
Thereafter		11,096
Intangible assets ,net	$ 25,339	$ 38,459	$ 58,970

Commitments and Contingencies (Details Narrative) - USD ($)			12 Months Ended
	Apr. 01, 2024	Mar. 21, 2024	Dec. 31, 2023	Mar. 31, 2024
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value		$ 20,000,000
Royalty fee liability				$ 3,750,000
Termination fee liability				$ 45,000,000
Subsequent Event [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	$ 48,750	$ 20,000,000
ABG-SI, LLC [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Royalty Expense			$ 15,000,000

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Summary of Significant Accounting Policies (Policies)

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Principles of Consolidation

Principles of Consolidation

The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the financial statements of The Arena Group and its wholly owned subsidiaries, Arena Media, Arena Platform, TheStreet, The Spun and Parade. Intercompany balances and transactions have been eliminated in consolidation.

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.

Use of Estimates

The preparation of the Company’s 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 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 consolidated financial statements; therefore, actual results could differ from management’s estimates.

Risks and Uncertainties

Risks and Uncertainties

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.

Effective December 1, 2023, B. Riley FBR, Inc. (“B. Riley FBR”), a registered broker-dealer owned by B. Riley Financial, Inc., a diversified publicly traded financial services company (“B. Riley”) that was instrumental in providing investment banking services to the Company and in raising debt and equity capital for the Company, and Renew Group Private Limited (“Renew”) entered into agreement where Renew purchased $110,691 in aggregate principal amount of the notes outstanding with B. Riley, including the 2023 Notes (as described in Note 18), Senior Secured Notes, Delayed Draw Term Notes and 2022 Bridge Notes (as described in Note 19), which constitute all of the notes outstanding with B. Riley and also assumed the role of agent under the Note Purchase Agreement, as further described in Note 26. The indirect owner of Renew also has an indirect non-controlling interest in Simplify Inventions, LLC (“Simplify”), a principal stockholder (as further described in Note 26).

Segment Reporting

Segment Reporting

The Company operates in one reportable segment which focuses on a publishing platform. The Company’s business offerings have similar operating characteristics and similar long-term operating performance, including the types of customers, nature of product or services, distribution methods and regulatory environment. The chief operating decision maker (the “CODM”) of the Company reviews specific financial and operational data and other key metrics to make resource allocation decisions and assesses performance by review of profit and loss information on a consolidated basis. The CODM does not review specific financial or operational data on a disaggregated basis or by aggregating operating segments into one reportable segment. The consolidated financial statements reflect the financial results of the Company’s one reportable segment.

Revenue Recognition

Revenue Recognition

In accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, revenues are recognized when control of the promised goods or services are transferred to the Company’s customers, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company generates all of its revenue from contracts with customers. The Company accounts for revenue on a gross basis, as compared to a net basis, on its statements of operations. The Company has made this determination based on its control of the advertising inventory and the ability to monetize the advertising inventory or publications before transfer to the customer and because it is also the primary obligor responsible for providing the services to the customer. Cost of revenue is presented as a separate line item on the consolidated statements of operations.

The following is a description of the principal activities from which the Company generates revenue:

Advertising Revenue

Digital Advertising – The Company recognizes revenue from digital advertisements at the point when each ad is viewed. The quantity of advertisements, the impression bid prices and revenue are reported on a real-time basis. The Company enters into contracts with advertising networks to serve display or video advertisements on the digital media pages associated with its various channels. Although reported advertising transactions are subject to adjustment by the advertising network partners, any such adjustments are known within a few days of month end. The Company owes its independent Publisher Partners a revenue share of the advertising revenue earned, which is recorded as service costs in the same period in which the associated advertising revenue is recognized.

Advertising revenue that is comprised of fees charged for the placement of advertising, on the Company’s flagship website, TheStreet.com, is recognized as the advertising or sponsorship is displayed, if collection of the resulting receivable is reasonably assured.

Print Advertising – Advertising related revenues for print advertisements are recognized when advertisements are published (defined as an issue’s on-sale date), net of provisions for estimated rebates, rate adjustments, and discounts.

Subscription Revenue

Digital Subscriptions – The Company enters into contracts with internet users that subscribe to premium content on the owned and operated media channels and facilitate such contracts between internet users and its Publisher Partners. These contracts provide internet users with a membership subscription to access the premium content. The Company owes its independent Publisher Partners a revenue share of the membership subscription revenue earned, which is initially deferred and recorded as deferred contract costs. The Company recognizes deferred contract costs over the membership subscription term in the same pattern that the associated membership subscription revenue is recognized.

Subscription revenue generated from the Company’s flagship website TheStreet.com from institutional and retail customers is comprised of subscriptions and license fees for access to securities investment information, stock market commentary, director and officer profiles, relationship capital management services, and transactional information pertaining to mergers and acquisitions and other changes in the corporate control environment. Subscriptions are charged to customers’ credit cards or are directly billed to corporate subscribers, and are generally billed in advance on a monthly, quarterly or annual basis. The Company calculates net subscription revenue by deducting from gross revenue an estimate of potential refunds from cancelled subscriptions as well as chargebacks of disputed credit card charges. Net subscription revenue is recognized ratably over the subscription periods. Unearned revenue relates to payments for subscription fees for which revenue has not been recognized because services have not yet been provided.

Print Revenue

Print revenue includes magazine subscriptions and single copy sales at newsstands.

Print Subscriptions – Revenue from magazine subscriptions is deferred and recognized proportionately as products are distributed to subscribers.

Newsstand – Single copy revenue is recognized on the publication’s on-sale date, net of provisions for estimated returns. The Company bases its estimates for returns on historical experience and current marketplace conditions.

Licensing and Syndication Revenue

Content licensing-based revenues and syndication revenues are accrued generally monthly or quarterly based on the specific mechanisms of each contract. Generally, revenues are accrued based on estimated sales and adjusted as actual sales are reported by partners. These adjustments are typically recorded within three months of the initial estimates and have not been material. Any minimum guarantees are typically earned evenly over the fiscal year.

Nature of Performance Obligations

Digital Advertising – The Company sells digital advertising inventory on its websites directly to advertisers or through advertising agencies. The Company’s performance obligations related to digital advertising are generally satisfied when the advertisement is run on the Company’s platform. The price for direct digital advertising is determined in contracts with the advertisers. Revenue from the sale of direct digital advertising is recognized when the advertisements are delivered based on the contract. The customer is invoiced the agreed-upon price in the month following the month that the advertisements are delivered with normal trade terms. The agreed upon price is adjusted for estimated provisions for rebates, rate adjustments, and discounts. As part of the Company’s customary business practices, digital advertising contracts may include a guaranteed number of impressions and sales incentives to its customers including volume discounts, rebates, value added impressions, etc. For all such contracts that include these types of variable consideration, the Company estimates the variable consideration and factors in such an estimate when determining the transaction price.

Print Advertising – The Company provides advertisement placements in print media directly to advertisers or through advertising agencies. The Company’s performance obligations related to print advertising are satisfied when the magazine in which an advertisement appears is published, which is defined as an issue’s on-sale date. The customer is invoiced the agreed-upon price when the advertisements are published under normal industry trade terms. The agreed upon price is adjusted for estimated provisions for rebates, rate adjustments, and discounts. As part of the Company’s customary business practices, print advertising contracts include guaranteed circulation levels of magazines, referred to as rate base, and a number of sales incentives to its customers including volume discounts, rebates, bonus pages, etc. For all such contracts that include these types of variable consideration, the Company estimates such when determining the transaction price.

Digital Subscriptions – The Company recognizes revenue from each membership subscription to access the premium content over time based on a daily calculation of revenue during the reporting period, which is generally one year. Subscriber payments are initially recorded as unearned revenue on the balance sheets. As the Company provides access to the premium content over the membership subscription term, the Company recognizes revenue and proportionately reduces the unearned revenue balance.

Print Subscriptions – The Company sells magazines to consumers through subscriptions. Each copy of a magazine is determined to be a distinct performance obligation that is satisfied when the publication is sent to the customer. The majority of the Company’s subscription sales are prepaid at the time of order. Subscriptions may be canceled at any time for a refund of the price paid for remaining issues. As the contract may be canceled at any time for a full refund of the unserved copies, the contract term is determined to be on an issue-to-issue basis as these contracts do not have substantive termination penalties. Revenues from subscriptions are deferred and recognized proportionately as subscribers are served. Some magazine subscription offers contain more than one magazine title in a bundle. The Company allocates the total contract consideration to each distinct performance obligation, or magazine title, based on a standalone-selling price basis.

Newsstand – The Company sells single copy magazines, or bundles of single copy magazines, to wholesalers for ultimate resale on newsstands primarily at major retailers and grocery/drug stores, and in digital form on tablets and other electronic devices. Publications sold to magazine wholesalers are sold with the right to receive credit from the Company for magazines returned to the wholesaler by retailers. Revenue is recognized on the issue’s on-sale date as the date aligns most closely with the date that control is transferred to the customer. The Company bases its estimates for returns on historical experience and current marketplace conditions.

Licensing and Syndication – The Company has entered into various licensing and syndication agreements that provide third party partners with the right to utilize the Company’s content. Functional licenses in national media consist of content licensing.

Timing of Satisfaction of Performance Obligations

Point-in-Time Performance Obligations – For performance obligations related to certain digital advertising space and sales of print advertisements, the Company determines that the customer can direct the use of and obtain substantially all the benefits from the advertising products as the digital impressions are served or on the issue’s on-sale date. For performance obligations related to sales of magazines through subscriptions, the customer obtains control when each magazine issue is mailed to the customer on or before the issue’s on-sale date. For sales of single copy magazines on newsstands, revenue is recognized on the issue’s on-sale date as the date aligns most closely with the date that control is transferred to the customer. Revenues from functional licenses and syndication arrangements are recognized at a point-in-time when access to the completed content is granted to the partner.

Over-Time Performance Obligations – For performance obligations related to sales of certain digital advertising space, the Company transfers control and recognizes revenue over time by measuring progress towards complete satisfaction using the most appropriate method.

For performance obligations related to digital advertising, the Company satisfies its performance obligations on some flat-fee digital advertising placements over time using a time-elapsed output method.

Determining a measure of progress requires management to make judgments that affect the timing of revenue recognized. The Company has determined that the above method provides a faithful depiction of the transfer of goods or services to the customer. For performance obligations recognized using a time-elapsed output method, the Company’s efforts are expended evenly throughout the period.

Performance obligations related to subscriptions to premium content on the digital media channels provides access for a given period of time, which is generally one year. The Company recognizes revenue from each membership subscription over time based on a daily calculation of revenue during the reporting period.

Transaction Price and Amounts Allocated to Performance Obligations

Determining the Transaction Price – Certain advertising contracts contain variable components of the transaction price, such as volume discounts and rebates. The Company has sufficient historical data and has established processes to reliably estimate these variable components of the transaction price.

Subscription revenue generated from the flagship website TheStreet.com is subject to estimation and variability due to the fact that, in the normal course of business, subscribers may for various reasons contact the Company or their credit card companies to request a refund or other adjustment for a previously purchased subscription. With respect to many of the Company’s annual newsletter subscription products, the Company offers the ability to receive a refund during the first 30 days but none thereafter. Accordingly, the Company maintains a provision for estimated future revenue reductions resulting from expected refunds and chargebacks related to subscriptions for which revenue was recognized in a prior period. The calculation of this provision is based upon historical trends and is reevaluated each quarter.

The Company typically does not offer any type of variable consideration in standard magazine subscription contracts. For these contracts, the transaction price is fixed upon establishment of the contract that contains the final terms of the sale including description, quantity and price of each subscription purchased. Therefore, the Company does not estimate variable consideration or perform a constraint analysis for these contracts.

A right of return exists for newsstand contracts. The Company has sufficient historical data to estimate the final amount of returns and reduces the transaction price at contract inception for the expected return reserve.

There is no variable consideration related to functional licenses.

Estimating Standalone-Selling Prices – For contracts that contain multiple performance obligations, the Company allocates the transaction price to each performance obligation on a relative standalone-selling price basis. The standalone-selling price is the price at which the Company would sell a promised good or service separately to the customer. In situations in which an obligation is bundled with other obligations and the total amount of consideration does not reflect the sum of individual observable prices, the Company allocates the discount to (1) a single obligation if the discount is attributable to that obligation or (2) prorates across all obligations if the discount relates to the bundle. When standalone-selling price is not directly observable, the Company estimates and considers all the information that is reasonably available to the Company, including market conditions, entity specific factors, customer information, etc. The Company maximizes the use of observable inputs and applies estimation methods consistently in similar circumstances.

Measuring Obligations for Returns and Refunds – The Company accepts product returns in some cases. The Company establishes provisions for estimated returns concurrently with the recognition of revenue. The provisions are established based upon consideration of a variety of factors, including, among other things, recent and historical return rates for both specific products and distributors and the impact of any new product releases and projected economic conditions.

As of December 31, 2023 and 2022, a subscription refund liability of $449 and $845, respectively, was recorded for the provision for the estimated returns and refunds on the consolidated balance sheets.

Contract Modifications

The Company occasionally enters into amendments to previously executed contracts that constitute contract modifications. The Company assesses each of these contract modifications to determine:

	●	if the additional services and goods are distinct from the services and goods in the original arrangement; and

	●	if the amount of consideration expected for the added services or goods reflects the stand-alone selling price of those services and goods.

A contract modification meeting both criteria is accounted for as a separate contract. A contract modification not meeting both criteria is considered a change to the original contract and is accounted for on either a prospective basis as a termination of the existing contract and the creation of a new contract, or a cumulative catch-up basis (further details are provided under the headings Contract Balances and Subscription Acquisition Costs).

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

	2023		2022
	Years Ended December 31,
	2023		2022
Revenue by category:
Digital revenue
Digital advertising	$	135,376	$	109,317
Digital subscriptions		12,764		21,156
Licensing and syndication revenue		18,482		18,173
Other digital revenue		5,384		1,166
Total digital revenue		172,006		149,812
Print revenue
Print advertising		9,881		10,214
Print subscriptions		62,316		60,909
Total print revenue		72,197		71,123
Total revenue	$	244,203	$	220,935
Revenue by geographical market:
United States	$	234,012	$	218,110
Other		10,191		2,825
Total revenue	$	244,203	$	220,935
Revenue by timing of recognition:
At point in time	$	231,439	$	199,779
Over time		12,764		21,156
Total revenue	$	244,203	$	220,935

Cost of Revenue

Cost of Revenue

Cost of revenue represents the cost of providing the Company’s digital media channels and advertising and membership services. The cost of revenue that the Company has incurred in the periods presented primarily include: Publisher Partner guarantees and revenue share payments; amortization of developed technology and platform development; royalty fees; hosting and bandwidth and software license fees; printing and distribution costs; payroll and related expenses for customer support, technology maintenance; fees paid for data analytics and to other outside service providers; and stock-based compensation of related personnel (as described in Note 22).

Contract Balances

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. An asset is recognized when certain costs incurred to obtain a contract meet the capitalization criteria (further details are provided under the heading Subscription Acquisition Costs). 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:

	2023		2022
	As of December 31,
	2023		2022
Unearned revenue (short-term contract liabilities):
Digital revenue	$	14,397	$	18,571
Print revenue		45,389		40,132
	$	59,786	$	58,703
Unearned revenue (long-term contract liabilities):
Digital revenue	$	542	$	1,118
Print revenue		10,137		18,583
	$	10,679	$	19,701

Unearned Revenue – Unearned revenue, also referred to as contract liabilities, include payments received in advance of performance under the contracts and are recognized as revenue over time. The Company records contract liabilities as unearned revenue on the consolidated balance sheets. Digital subscription and print subscription revenue of $68,985 was recognized during the year ended December 31, 2023 from unearned revenue at the beginning of the year.

During January 2020, February 2020 and December 2021, the Company modified certain digital and print subscription contracts that prospectively changed the frequency of the related issues (or magazines) required to be delivered on a yearly basis (the “Contract Modifications”). The Company determined that the remaining digital content and magazines to be delivered are distinct from the digital content or magazines already provided under the original contract. As a result, the Company in effect established a new contract that included only the remaining digital content or magazines. Accordingly, the Company allocated the remaining performance obligations in the contracts as consideration from the original contract that has not yet been recognized as revenue. For the years ended December 31, 2023 and 2022, the Company recognized revenue of $554 and $2,986, respectively, resulting from the Contract Modifications.

Cash, Cash Equivalents, and Restricted Cash

Cash, Cash Equivalents, and Restricted Cash

The Company maintains cash, cash equivalents, and restricted cash at banks where amounts on deposit may exceed the Federal Deposit Insurance Corporation limit during the year. Cash and cash equivalents represent cash and highly liquid investments with an original contractual maturity at the date of purchase of three months. As of December 31, 2023 and 2022, cash and cash equivalents consist primarily of checking, savings deposits and money market accounts. These deposits exceeded federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to significant credit risk regarding its cash and cash equivalents.

The following table reconciles total cash, cash equivalents, and restricted cash:

Schedule of Cash and Restricted Cash

	2023		2022
	As of December 31,
	2023		2022
Cash and cash equivalents	$	9,284	$	13,871
Restricted cash		-		502
Total cash, cash equivalents, and restricted cash	$	9,284	$	14,373

As of December 31, 2023 and 2022, the Company had restricted cash of $0 and $502, which served as collateral for certain credit card merchant accounts with a bank.

Accounts Receivable

Accounts Receivable and Allowance for Doubtful Accounts

The Company receives payments from advertising customers based upon contractual payment terms; accounts receivable is recorded when the right to consideration becomes unconditional and are generally collected within 90 days. The Company generally receives payments from digital and print subscription customers at the time of sign up for each subscription; accounts receivable from merchant credit card processors are recorded when the right to consideration becomes unconditional and are generally collected weekly. Accounts receivable have been reduced by an allowance for doubtful accounts. The Company maintains the allowance for estimated losses resulting from the inability of the Company’s customers to make required payments. The allowance represents the current estimate of lifetime expected credit losses over the remaining duration of existing accounts receivable considering current market conditions and supportable forecasts when appropriate. The estimate is a result of the Company’s ongoing evaluation of collectability, customer creditworthiness, historical levels of credit losses, and future expectations. Accounts receivable are written off when deemed uncollectible and collection of the receivable is no longer being actively pursued. Accounts receivable as of December 31, 2023 and 2022 of $44,811 and $33,950, respectively, are presented net of allowance for doubtful accounts.

The following table summarizes the allowance for doubtful accounts activity:

	2023			2022
	Years Ended of December 31,
	2023			2022
Allowance for doubtful accounts beginning of year	$	2,236		$	1,578
Additions		315			658
Deductions - write-offs		(1,570	)		-
Allowance for doubtful accounts end of year	$	981		$	2,236

Subscription Acquisition Costs

Subscription Acquisition Costs

Subscription acquisition costs include the incremental costs of obtaining a contract with a customer, paid to external parties, if the Company expects to recover those costs. The Company has determined that sales commissions paid on all third party agent sales of subscriptions are direct and incremental costs of obtaining a contract with a customer and, therefore, meet the capitalization criteria. The Company has elected to apply the practical expedient to amortize these costs at the portfolio level. The sales commissions paid to third party agents are amortized as the magazines are sent to the subscriber on an issue-by-issue basis. The Company determined that commissions paid for subscriber renewal contracts to all third party agents are not from a specifically anticipated future contract, therefore, the commissions paid on renewals are amortized as the magazines are sent to the subscriber over the renewal term on an issue-by-issue basis. Direct mail costs for renewal subscriptions are expensed as incurred since they do not meet the capitalization criteria.

Amortization of subscription acquisition costs of $38,112 and $37,190 for the years ended December 31, 2023 and 2022, respectively, are included within selling and marketing expenses on the consolidated statements of operations. No impairment losses have been recognized for subscription acquisition costs for the years ended December 31, 2023 and 2022.

The Contract Modifications resulted in subscription acquisition costs to be recognized on a prospective basis in the same proportion as the revenue that has not yet been recognized.

The current portion of the subscription acquisition costs as of December 31, 2023 and 2022 was $29,706 and $25,931, respectively. The noncurrent portion of the subscription acquisition costs as of December 31, 2023 and 2022 was $7,215 and $14,133, respectively. Subscription acquisition costs as of December 31, 2023 presented as current assets of $29,706 are expected to be amortized over a one-year period, or through December 31, 2024, and presented as long-term assets of $7,215 are expected to be amortized after the one-year period ending December 31, 2024.

Concentrations

Concentrations

Significant Customers – Concentration of credit risk with respect to accounts receivable is limited to customers to whom the Company makes significant sales. While a reserve for the potential write-off of accounts receivable is maintained, the Company has not written off any material accounts to date. To control credit risk, the Company performs regular credit evaluations of its customers’ financial condition.

Revenue from significant customers as a percentage of the Company’s total revenue represent approximately 10.0% from a customer for the year ended December 31, 2023. Revenue from significant customers as a percentage of the Company’s total revenue represent 13.9% from a customer for the year ended December 31, 2022.

Significant Vendors – Concentrations of risk with respect to third party vendors who provide products and services to the Company are limited. If not limited, such concentrations could impact profitability if a vendor failed to fulfill their obligations or if a significant vendor was unable to renew an existing contract and the Company was not able to replace the related product or service at the same cost.

Significant accounts payable balances as a percentage of the Company’s total accounts payable represent 12.2%, and 14.1% from a vendor for the years ended December 31, 2023, and 2022, respectively.

Leases

The Company has lease arrangements for its offices. Leases are recorded as an operating lease right-of-use assets and operating lease liabilities on the consolidated balance sheets. Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheets. At inception, the Company determines whether an arrangement that provides control over the use of an asset is a lease. When it is reasonably certain that the Company will exercise the renewal period, the Company includes the impact of the renewal in the lease term for purposes of determining total future lease payments. Rent expense is recognized on a straight-line basis over the lease term.

Property and Equipment

Property and equipment is stated at cost less accumulated depreciation. Maintenance and repairs are charged to expense as incurred. Gains and losses from disposition of property and equipment are included on the consolidated statements of operations when realized. Depreciation and amortization are provided using the straight-line method over the following estimated useful lives:

Office equipment and computers	1 – 3 years
Furniture and fixtures	1 – 5 years

Platform Development

Platform Development

The Company capitalizes platform development costs for internal use when planning and design efforts are successfully completed, and development is ready to commence. The Company places capitalized platform development assets into service and commences amortization when the applicable project or asset is substantially complete and ready for its intended use. Once placed into service, the Company capitalizes qualifying costs of specified upgrades or enhancements to capitalized platform development assets when the upgrade or enhancement will result in new or additional functionality.

The Company capitalizes internal labor costs, including payroll-based and stock-based compensation, benefits and payroll taxes, that are incurred for certain capitalized platform development projects related to the Platform. The Company’s policy with respect to capitalized internal labor stipulates that labor costs for employees working on eligible internal use capital projects are capitalized as part of the historical cost of the project when the impact, as compared to expensing such labor costs, is material.

Platform development costs are amortized on a straight-line basis over three years, which is the estimated useful life of the related asset and is recorded in cost of revenue on the consolidated statements of operations.

Business Combinations

Business Combinations

The Company accounts for business combinations using the acquisition method of accounting. The acquisition method of accounting requires that the purchase price, including the fair value of contingent consideration, of the acquisition be allocated to the assets acquired and liabilities assumed using the estimated fair values determined by management as of the acquisition date. Goodwill is measured as the excess of consideration transferred and the net fair values of the assets acquired, and the liabilities assumed at the date of acquisition. While the Company uses its best estimates and assumptions as part of the purchase price allocation process to accurately value assets acquired and liabilities assumed at the acquisition date, the Company’s estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, the Company records adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill to the extent the Company identifies adjustments to the preliminary purchase price allocation. Upon the conclusion of the measurement period, which may be up to one year from the acquisition date, or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of operations. Additionally, the Company identifies acquisition-related contingent payments and determines their respective fair values as of the acquisition date, which are recorded as accrued liabilities on the consolidated balance sheets. Subsequent changes in fair value of contingent payments are recorded on the consolidated statements of operations. The Company expenses transaction costs related to the acquisition as incurred.

Intangible Assets

Intangible Assets

Intangible assets with finite lives, consisting of developed technology and trade names, are amortized using the straight-line method over the estimated economic lives of the assets. A finite lived intangible asset is tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Intangible assets with an indefinite useful life are not amortized.

Long-Lived Assets

Long-Lived Assets

The Company periodically evaluates the carrying value of long-lived assets to be held and used when events or circumstances warrant such a review. The carrying value of a long-lived asset to be held and used is considered impaired when the anticipated separately identifiable undiscounted cash flows from such an asset are less than the carrying value of the asset. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. Fair value is determined primarily by reference to the anticipated cash flows discounted at a rate commensurate with the risk involved.

General and Administrative

Goodwill

Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets of businesses acquired in a business combination. Goodwill is not amortized but rather is tested for impairment at least annually on December 31, or more frequently if events or changes in circumstances indicate that the carrying amount of goodwill may not be recoverable. The Company operates as one reporting unit, therefore, the impairment test is performed at the consolidated entity level. Recoverability of goodwill is determined by comparing the fair value of Company’s reporting unit to the carrying value of the underlying net assets in the reporting unit. If the fair value of the reporting unit is determined to be less than the carrying value of its net assets, goodwill is deemed impaired, and an impairment loss is recognized to the extent that the carrying value of goodwill exceeds the difference between the fair value of the reporting unit and the fair value of its other assets and liabilities.

Debt Costs

Debt Costs

Debt costs consist of cash and noncash consideration paid to lenders and third parties with respect to debt and other financing transactions, including legal fees and placement fees. Such costs are deferred and amortized over the term of the related debt. Upon the settlement of debt the pro rata portion of any related unamortized debt costs are charged to operations.

Additional consideration in the form of warrants and other derivative financial instruments issued to lenders are accounted for at fair value utilizing information determined by consultants with the Company’s independent valuation firm. The fair value of warrants and derivatives are recorded as a reduction to the carrying amount of the related debt and amortized to interest expense over the term of such debt, with the initial offsetting entries recorded as a liability on the balance sheet. Upon the settlement of the debt the pro rata portion of any related unamortized debt cost is charged to operations.

Liquidated Damages

Liquidated Damages

The Company incurred liquidated damages when: (i) a registration rights agreement provides for damages if the Company does not register the shares of the Company’s common stock within the requisite time frame (the “Registration Rights Damages”), which, in general, provides for a cash payment equal to 1.0% per month of the amount invested, on a daily pro rata basis for any portion of a month, as partial liquidated damages per month, upon the occurrence of certain events, up to a maximum amount of 6.0% of the aggregate amount invested, subject to interest at the rate of 1.0% per month until paid in full; and (ii) a securities purchase agreement provides for damages if the Company fails for any reason to satisfy a public information requirement within the requisite time frame with the Securities and Exchange Commission (“SEC”) (the “Public Information Failure Damages”), which, in general, provides for a cash payment equal to 1.0% of the aggregate amount invested for each 30-day period, or pro rata portion thereof, as partial liquidated damages per month, up to a maximum of 6 months, subject to interest at the rate of 1.0% per month until paid in full. Collectively, the Registration Rights Damages and the Public Information Failure Damages are referred to as the “Liquidated Damages” on the consolidated balance sheets.

Selling and Marketing

Selling and Marketing

Selling and marketing expenses consist of compensation, employee benefits and stock-based compensation of selling and marketing, account management support teams, as well as commissions, travel, trade show sponsorships and events, conferences and advertising costs. The Company’s advertising expenses relate to direct-mail costs for magazine subscription acquisition efforts, and print and digital advertising that are expensed when an advertisement takes place. During the years ended December 31, 2023 and 2022, the Company incurred advertising expenses of $4,372 and $5,987, respectively, which are included within selling and marketing on the consolidated statements of operations.

General and Administrative

General and administrative expenses consist primarily of payroll for executive personnel, technology personnel incurred in developing conceptual formulation and determination of existence of needed technology, and administrative personnel along with any related payroll costs; professional services, including accounting, legal and insurance; facilities costs; conferences; other general corporate expenses; and stock-based compensation of related personnel.

Derivative Financial Instruments

Derivative Financial Instruments

The Company accounts for freestanding contracts that are settleable in the Company’s equity securities, including the put option on the Company’s common stock, to be designated as an equity instrument, generally as a liability. A contract so designated is carried at fair value on the consolidated balance sheets, with any changes in fair value recorded as a gain or loss on the consolidated statements of operations, with no impact on cash flows.

At the date of settlement of a freestanding equity contract, the pro rata fair value of the related liability is transferred to additional paid-in capital.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

The authoritative guidance with respect to fair value established a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels and requires that assets and liabilities carried at fair value be classified and disclosed in one of three categories, as presented below. Disclosure as to transfers in and out of Levels 1 and 2, and activity in Level 3 fair value measurements, is also required.

Level 1. Observable inputs such as quoted prices in active markets for an identical asset or liability that the Company has the ability to access as of the measurement date. Financial assets and liabilities utilizing Level 1 inputs include active-exchange traded securities and exchange-based derivatives.

Level 2. Inputs, other than quoted prices included within Level 1, which are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. Financial assets and liabilities utilizing Level 2 inputs include fixed income securities, non-exchange-based derivatives, mutual funds, and fair-value hedges.

Level 3. Unobservable inputs in which there is little or no market data for the asset or liability which requires the reporting entity to develop its own assumptions. Financial assets and liabilities utilizing Level 3 inputs include infrequently traded non-exchange-based derivatives and commingled investment funds and are measured using present value pricing models.

The Company determines the level in the fair value hierarchy within which each fair value measurement falls in its entirety, based on the lowest level input that is significant to the fair value measurement in its entirety. In determining the appropriate levels, the Company performs an analysis of the assets and liabilities at each reporting period end.

The carrying amount of the Company’s financial instruments comprising of cash, restricted cash, accounts receivable, accounts payable and accrued expenses and other approximate fair value because of the short-term maturity of these instruments.

Preferred Stock

Preferred Stock

Preferred stock (the “Preferred Stock”) (as described in Note 20) is reported as a mezzanine obligation between liabilities and stockholders’ deficiency. If it becomes probable that the Preferred Stock will become redeemable, the Company will re-measure the Preferred Stock by adjusting the carrying value to the redemption value of the Preferred Stock assuming each balance sheet date is a redemption date.

Stock-Based Compensation

Stock-Based Compensation

The Company provides stock-based compensation in the form of (a) stock awards to employees and directors, comprised of restricted stock awards and restricted stock units, (b) stock option grants to employees, directors and consultants, (c) common stock warrants to Publisher Partners (no warrants were issued during the year ended December 31, 2022) (further details are provided under the headings Publisher Partner Warrants and New Publisher Partner Warrants in Note 22), and (d) common stock warrants to ABG (further details are provided under the heading ABG Warrants in Note 22).

The Company accounts for stock awards and stock option grants to employees, directors and consultants, and non-employee awards to certain directors and consultants by measuring the cost of services received in exchange for the stock-based payments as compensation expense in the Company’s consolidated financial statements. Stock awards and stock option grants to employees and non-employees which are time-vested, are measured at fair value on the grant date, and charged to operations ratably over the vesting period. Stock awards and stock option grants to employees and non-employees which are performance-vested, are measured at fair value on the grant date and charged to operations when the performance condition is satisfied or over the service period.

The fair value measurement of stock awards and grants used for stock-based compensation is as follows: (1) restricted stock awards and restricted stock units which are time-vested, are determined using the quoted market price of the Company’s common stock at the grant date; (2) stock option grants which are time-vested and performance-vested, are determined utilizing the Black-Scholes option-pricing model at the grant date; (3) restricted stock units and stock option grants which provide for market-based vesting with a time-vesting overlay, are determined through consultants with the Company’s independent valuation firm using the Monte Carlo model at the grant date; (4) Publisher Partner Warrants were determined utilizing the Black-Scholes option-pricing model; and (5) ABG warrants are determined utilizing the Monte Carlo model (further details are provided in Note 22). Estimated volatility was determined under the (1) “Probability Weighted Scenarios” (prior to the reverse stock split on February 8, 2022) where one scenario assumes that the Company’s common stock will be up-listed on a national stock exchange (the “Exchange”) on a certain listing date (the “Up-list”) where the estimated volatility was based on evaluating the average historical volatility of a group of peer companies that are publicly traded and the second scenario assumes that the Company’s common stock is not up-listed on the Exchange prior to the final vesting date of the grants (the “No Up-list”) where the historical volatility of the Company’s common stock was evaluated based upon market comparisons; and the (2) “Up-list Scenario” (after the reverse stock split on February 8, 2022) where the Company estimated volatility based on evaluating the average historical volatility of a group of peer companies that are publicly traded after the Company up-listed to the NYSE American. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. The fair market value of common stock is determined by reference to the quoted market price of the Company’s common stock.

The Company has elected to recognize forfeitures as they occur and to recognize stock-based compensation cost on a straight-line basis over the total requisite service period for awards with graded vesting. The Company classifies stock-based compensation cost on its consolidated statements of operations in the same manner in which the award recipient’s cash compensation cost is classified.

Income Taxes

Income Taxes

The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to operating loss carryforwards and temporary differences between financial statement bases of existing assets and liabilities and their respective income tax bases. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in the income tax rates on deferred tax asset and liability balances is recognized in income in the period that includes the enactment date of such rate change. A valuation allowance is recorded for loss carryforwards and other deferred tax assets when it is determined that it is more likely than not that such loss carryforwards and deferred tax assets will not be realized.

The Company follows accounting guidance that sets forth a threshold for financial statement recognition, measurement, and disclosure of a tax position taken or expected to be taken on a tax return. Such guidance requires the Company to determine whether a tax position of the Company is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any related appeals or litigation processes, based on technical merits of the position.

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.

	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

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 restrictions expire, the shares are no longer forfeitable, and are thus vested. Restricted stock units are included in the computation of basic loss per common share only when the 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.

	As of December 31,
	2023		2022
Series G Preferred Stock		8,582		8,582
Series H Preferred Stock		-		1,981,128
Financing Warrants		-		107,956
ABG Warrants		999,540		999,540
AllHipHop Warrants		5,682		5,682
Publisher Partner Warrants		9,800		4,154
Restricted stock awards		-		97,403
Restricted stock units		199,267		994,766
Common stock options		5,451,968		6,199,521
Total		6,674,839		10,398,732

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, which clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. This update also clarifies that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction and requires certain disclosures for equity securities subject to contractual sale restrictions. The adoption of ASU 2022-03 did not have a material impact on the Company’s condensed consolidated financial statements.

Recent Accounting Pronouncements

Recently Adopted Accounting Standards

In March 2022, the Financial Accounting Standards Board (the “FASB”) issued ASU 2022-02, Financial Instruments-Credit Losses(Topic 326): Troubled Debt Restructurings and Vintage Disclosures, addressing areas identified by the FASB as part of its post-implementation review of its previously issued credit losses standard (ASU 2016-13) that introduced the current expected credit losses (CECL) model. ASU 2022-02 eliminates the accounting guidance for troubled debt restructurings by creditors that have adopted the CECL model and enhances disclosure requirements for certain loan refinancings and restructurings made with borrowers experiencing financial difficulty. This update requires an entity to disclose current-period gross write-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. As the Company has already adopted ASU 2016-13, the new guidance was adopted on January 1, 2023. The adoption of ASU 2022-02 did not have a material impact on the Company’s consolidated financial statements.

Recently Issued Accounting Standards

In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, which clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. This update also clarifies that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction and requires certain disclosures for equity securities subject to contractual sale restrictions. ASU 2022-03 is effective for the Company in the fiscal year beginning after December 15, 2023, and interim periods within the fiscal year. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. The Company is currently evaluating the impact that the adoption of this new accounting standard will have on its consolidated financial statements.

In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative, which incorporates certain SEC disclosure requirements into the FASB Accounting Standards Codification (“Codification”). The amendments are expected to clarify or improve disclosure and presentation requirements of a variety of Codification Topics, allow users to more easily compare entities subject to the SEC’s existing disclosures with those entities that were not previously subject to the requirements, and align the requirements in the Codification with the SEC’s regulations. ASU 2023-06 will become effective for each amendment on the effective date of the SEC’s corresponding disclosure rule changes. The Company is currently evaluating the impact that the adoption of this new standard will have on its consolidated financial statements.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which will require the Company to disclose specified additional information in its income tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. ASU 2023-09 will also require the Company to disaggregate its income taxes paid disclosure by federal, state and foreign taxes, with further disaggregation required for significant individual jurisdictions. The provisions of ASU 2023-09 are effective for annual periods beginning after December 15, 2024; early adoption is permitted using either a prospective or retrospective transition method. The Company expects ASU 2023-09 to require additional disclosures in the notes to its consolidated financial statements.

Management does not believe that any other recently issued, but not yet effective, authoritative guidance, if currently adopted, would have a material impact on the Company’s financial statement presentation or disclosures.

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 operates in one reportable segment.

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, and as of March 31, 2024, had cash on hand of $4,003 and a working capital deficit of $225,009. The Company’s net loss from continuing operations and working capital deficit have been evaluated by management to determine if the significance of those conditions or events would limit its ability to meet its obligations when due. Also, since the Company’s 2023 Notes (see Note 11), Senior Secured Notes, Delayed Draw Term Notes and 2022 Bridge Notes (see Note 12) (collectively its “current debt”) are subject 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 further described in Note 18) unless the Company is able to refinance or modify the terms of its current debt it runs the risk that its debt could be called, therefore, it may not be able to meet its obligations when due.

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 financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Accounts Receivable

Accounts Receivable - Accounts receivable are stated at net invoice amounts and presented net of an allowance for credit losses. The allowance for credit losses is based on management’s evaluation of the receivables under current conditions, the aging of the receivables, review of specific collection issues and such other factors, which in management’s judgment, deserve recognition in estimating losses. The allowance for credit losses on the total accounts receivable balances was approximately $99 thousand and $136 thousand as of March 31, 2024 and December 31, 2023, respectively.

Accounts Receivable - Accounts receivable are stated at net invoice amounts and presented net of an allowance for credit losses. The allowance for credit losses is based on management’s evaluation of the receivables under current conditions, the aging of the receivables, review of specific collection issues and such other factors, which in management’s judgment, deserve recognition in estimating losses. The allowance for credit losses on the total accounts receivable balances was approximately $136 thousand and $25 thousand as of December 31, 2023 and 2022, respectively.

Bridge Media Networks, LLC

Notes to Financial Statements

December 31, 2023 and 2022

Leases - The Company’s lease arrangements consist of real estate property, such as office buildings. These leases require the Company to pay all executory costs (property taxes, maintenance, and insurance). Lease payments include both fixed and variable components. Rental payments included in the measurement of the lease liability comprise fixed payments. Variable payments associated with the Company’s leases are recognized when the event, activity or circumstance in the lease agreement on which those payments are assessed has occurred. Some of the Company’s leases include options to extend or terminate the leases. These options have been included in the relevant lease term to the extent that they are reasonably certain to be exercised. Generally, the leases have no residual value guarantees or material covenants. All current leases were determined to be operating leases, The Company currently has no short-term leases or finance leases.

The Company determines if an arrangement is a lease at inception. Operating lease ROU assets are presented as right of use assets on the balance sheet. The current portion of operating lease liabilities is presented separately as current portion of lease liability and the long-term portion of operating lease liabilities is presented separately as long-term lease liabilities on the balance sheet.

ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. The lease liability is initially measured at the present value of the unpaid lease payments at the lease commencement date. The lease liability is subsequently measured at amortized cost using the effective interest method.

Bridge Media Networks, LLC

Notes to Unaudited Financial Statements

The ROU asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentive received. The ROU asset is subsequently measured through the lease term at the carrying amount of the lease liability, plus initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received. We use the implicit rate when readily determinable. As most of our leases do not provide an implicit interest rate, we have utilized the incremental borrowing rate of Simplify to determine the present value of future payments.

ROU assets are tested for impairment when events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. The Company first performs a qualitative assessment by evaluating all relevant events and circumstances to determine if it is more likely than not that the ROU assets are impaired; this includes considering any potential effect on significant inputs to determining the fair value of the ROU assets. When it is more likely than not that a ROU asset is impaired, then the Company calculates the fair value of the intangible asset and compares it to the carrying amount of the asset. If the carrying amount exceeds the fair value of the asset, impairment is recorded. No ROU asset impairment was recorded in 2024 and 2023.

Lease expense for lease payments is recognized on a straight-line basis over the lease term and is presented within general and administrative expenses on the statement of operations. Lease expense for variable payments is recognized within general and administrative expense on the statement of operations.

Bridge Media Networks, LLC

Notes to Financial Statements

December 31, 2023 and 2022

Property and Equipment – Purchases of property and equipment are recorded at cost. The straight-line method is used for computing depreciation and amortization. Assets are depreciated over their estimated useful lives ranging from 1 to 38 years. Costs of maintenance and repairs are charged to expense when incurred.

Property and equipment are reviewed for impairment when events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. The assessment of possible impairment is based on the ability to recover the carrying value of the assets from the expected future pretax cash flows (undiscounted and without interest charges) of the related operations. If these cash flows are less than the carrying value of such assets, an impairment loss is recognized for the difference between estimated fair value and carrying value. The measurement of impairment requires management to make estimates of these cash flows related to long-lived assets, as well as other fair value determinations such as quoted market values and third party independent appraisals. The Company did not recognize any impairment expense for the periods ended March 31, 2024 and 2023.

Bridge Media Networks, LLC

Notes to Unaudited Financial Statements

Cash and Cash Equivalents

Goodwill - Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets of businesses acquired in a business combination. Goodwill is not amortized but rather is tested for impairment at least annually on December 31, or more frequently if events or changes in circumstances indicate that the carrying amount of goodwill may not be recoverable. The Company has one reporting unit, therefore, the impairment test is performed at the entity level. Accounting Standards Codification (ASC ) 350, Intangibles - Goodwill and Other, permits an entity to assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than it carrying amount before applying the goodwill impairment model. If it is determined through the qualitative assessment that a reporting unit’s fair value is more likely than not greater than its carrying value, the remaining impairment steps would be unnecessary.

If the Company elects or is required to perform a quantitative analysis, then recoverability of goodwill is determined by comparing the fair value of Company’s reporting unit to the carrying value of the underlying net assets in the reporting unit. If the fair value of the reporting unit is determined to be less than the carrying value of its net assets, goodwill is deemed impaired, and an impairment loss is recognized to the extent that the carrying value of goodwill exceeds the difference between the fair value of the reporting unit and the fair value of its other assets and liabilities. No impairment was recorded in 2024 and 2023.

Goodwill - Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets of businesses acquired in a business combination. Goodwill is not amortized but rather is tested for impairment at least annually on December 31, or more frequently if events or changes in circumstances indicate that the carrying amount of goodwill may not be recoverable. The Company has one reporting unit, therefore, the impairment test is performed at the entity level. ASC 350, Intangibles - Goodwill and Other, permits an entity to assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than it carrying amount before applying the goodwill impairment model. If it is determined through the qualitative assessment that a reporting unit’s fair value is more likely than not greater than its carrying value, the remaining impairment steps would be unnecessary.

Income Taxes

Income Taxes - The Company is organized as a limited liability company and is taxed under partnership tax rules. Therefore, there is no provision for federal income taxes in the statement of operations since income is taxed at the individual member level.

Basis of Presentation

Basis of Presentation

The financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP). The financial statements include revenues and expenses that are directly related to the business, including net sales and cost of sales for the core brands described above.

Summary of Significant Accounting Policies

Basis of Presentation

Summary of Significant Accounting Policies

Cash and Cash Equivalents – The Company considers all highly liquid instruments purchased with an original maturity of 90 days or less to be cash equivalents. The Company deposits cash primarily with major banks and, at times, may maintain balances that exceed the federal insured amounts. The Company has not experienced any losses in such accounts, and management believes the Company is not exposed to any unusual credit risk on these deposits.

Indefinite-lived Intangible Asset

Indefinite-lived Intangible Asset – The TravelHost trade name is an indefinite-lived intangible asset. The indefinite-lived intangible asset is tested for impairment annually, and more frequently when there is a triggering event. Annually, or when there is a triggering event, the Company first performs a qualitative assessment by evaluating all relevant events and circumstances to determine if it is more likely than not that the indefinite-lived intangible asset is impaired; this includes considering any potential effect on significant inputs to determining the fair value of the indefinite-lived intangible asset. When it is more likely than not that an indefinite-lived intangible asset is impaired, then the Company calculates the fair value of the intangible asset and performs a quantitative impairment test. No impairment was recorded in 2024 and 2023.

Revenue and Cost Recognition

Revenue and Cost Recognition - In accordance with ASC 606, Revenue from Contracts with Customers, revenues are recognized when control of the promised goods or services are transferred to the Company’s customers, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services.

The primary sources of revenue are from advertising aired on its networks and licensing, services and advertising related to its magazine. For advertising aired on its networks, revenue is recognized, net of agency commissions, in the period in which advertisements are aired or delivered and payment occurs thereafter, with payment generally required within 30 to 60 days. Revenues from licenses and services are recognized when the Company publishes and prints its magazines for its licensees and service customers. Advertising related revenues for print advertisements are recognized when advertisements are published. There is no variable consideration related to advertising, licensing, or service revenue. Payment terms for the licensee’s and advertisers are generally 30 days. The Company recorded $2.5 million and $493 thousand in revenue for network advertising and $364 thousand and $372 thousand for licensing, services and advertising related to its magazine in the three months ended March 31, 2024 and 2023, respectively. Sales to one of its major customers aggregated to approximately 82% of total net sales for the three months ended March 31, 2024 and approximately 43% of total net sales for the three months ended March 31, 2023.

At contract inception, the Company assesses the obligations promised in its contracts with customers and identifies a performance obligation for each promise to transfer a good or service or bundle that is distinct. To identify the performance obligations, the Company considers all the promises in the contract, whether explicitly stated or implied based on customary business practices. The Company’s performance obligations related to advertising are satisfied at a point in time when an advertisement appears on its network or is published in its magazine. The Company determines that the customer can direct the use of and obtain substantially all the benefits from the advertising at a point in time when an advertisement appears on its network or is printed and published in its magazine. The Company’s performance obligations related to licensing and service are satisfied on the publication date. The Company determines that the customer can direct the use of and obtain substantially all benefits from licensing and services on the publication date.

Bridge Media Networks, LLC

Notes to Unaudited Financial Statements

The primary sources of revenue are from advertising aired on its networks and licensing, services and advertising related to its magazine. For advertising aired on its networks, revenue is recognized, net of agency commissions, in the period in which advertisements are aired or delivered and payment occurs thereafter, with payment generally required within 30 to 60 days. Revenues from licenses and services are recognized when the Company publishes and prints its magazines for its licensees and service customers. Advertising related revenues for print advertisements are recognized when advertisements are published. There is no variable consideration related to advertising, licensing, or service revenue. Payment terms for the licensee’s and advertisers are generally 30 days. The Company recorded $5.4 million in revenue for network advertising and $1.4 million for licensing, services and advertising related to its magazine in 2023. The Company recorded $341 thousand for licensing, services and advertising related to its magazine and did not record any revenue for network advertising in 2022. Sales to one of its major customers aggregated to approximately 66% of total net sales for 2023. There were no significant sales to the specific customer in 2022.

Bridge Media Networks, LLC

Notes to Financial Statements

December 31, 2023 and 2022

At contract inception, the Company assesses the obligations promised in its contracts with customers and identifies a performance obligation for each promise to transfer a good or service or bundle that is distinct. To identify the performance obligations, the Company considers all the promises in the contract, whether explicitly stated or implied based on customary business practices. The Company’s performance obligations related to advertising are satisfied at a point in time when an advertisement appears on its network or is published in its magazine. The Company determines that the customer can direct the use of and obtain substantially all the benefits from the advertising on the publication date. The Company’s performance obligations related to licensing and service are satisfied at a point in time when an advertisement appears on its network or is published printed and published in its magazine. The Company determines that the customer can direct the use of and obtain substantially all benefits from licensing and services on the publication date.

Advertising and Promotional Expenses

Advertising and Promotional Expenses - Advertising and promotional expenses are charged against income during the period when the advertising or promotion takes place. Advertising and promotional expenses were approximately $82 thousand and $9 thousand for the three months ended March 31, 2024 and 2023, respectively.

Advertising and Promotional Expenses - Advertising and promotional expenses are charged against income during the period when the advertising or promotion takes place. Advertising and promotional expenses were approximately $598 thousand and $2 thousand for the years ended December 31, 2023 and 2022, respectively.

Fair Value Measurements

Fair Value Measurements - The Company uses valuation approaches that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels:

● Level 1 inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.

● Level 2 inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.

● Level 3 inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date.

The carrying amount of the Company’s financial instruments comprising of cash, accounts receivable, accounts payable and accrued expenses approximate fair value because of the short-term maturity of these instruments.

● Level 1 inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.

Compensation Plans

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

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 Stock		Common Stock Options		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 Stock		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:

	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 – On January 2, 2024, in connection with the default under the Licensing Agreement, the Performance-Based Warrants totaling 599,724 vested as a result of the default pursuant to certain provisions where all of the warrants automatically vest upon certain terminations of the Licensing Agreement by ABG. Of the warrants that vested, 449,793 had an exercise price of $9.24 per share and 149,931 had an exercise price of $18.48 per share.

Modification of Awards – On February 28, 2023, the Company modified certain equity awards as a result of the resignation of a senior executive employee where 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 shares of the Company’s common stock (including previously vested options of shares of the Company’s common stock of 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.

22. Stock–Based Compensation

Compensation Plans

The Company issued stock-based compensation awards under several plans as follows:

	●	2016 Plan – On December 19, 2016, the Board adopted the 2016 Stock Incentive Plan (the “2016 Plan”) that allowed the Company to grant restricted stock awards and statutory and non-statutory common stock options to acquire shares of the Company’s common stock to employees, directors and consultants, with vesting variable vesting provisions consisting of time-based and performance-based. The Company is no longer issuing awards under the 2016 Plan.

	●	2019 Plan – On April 4, 2019, the Board adopted the 2019 Equity Incentive Plan (the “2019 Plan”) that allowed awards of stock options, restricted stock awards, restricted stock units, unrestricted stock awards, and stock appreciation rights, with variable vesting provisions consisting of time-based, performance-based, or market-based. The Company is no longer issuing option awards under the 2019 Plan.

	●	Outside Options – The Company granted stock options outside the 2016 Plan and 2019 Plan (the “Outside Options”) that allowed the Company to grant statutory and non-statutory common stock options, with variable vesting provisions consisting time-based, performance-based targets and certain performance achievements. The Company is no longer issuing Outside Options.

●

2022 Plan – On April 18, 2022, the Board adopted the 2022 Stock and Equity Compensation Plan (the “2022 Plan”) that was approved by the Company’s stockholders on June 2, 2022 with a maximum number of shares authorized to be issued under the plan of 1,800,000. The purpose of the 2022 Plan is to foster the growth and success of the Company by providing a means to attract, motivate and retain officers, directors, key employees, and consultants through awards of stock options, stock appreciation rights, restricted stock awards, unrestricted stock awards and restricted stock units. Shares subject to an award that have been canceled, expired, settled in cash, or not issued or forfeited for any reason will not reduce the aggregate number of shares that may be subject to or delivered under the 2022 Plan and will be available for future awards granted under the 2022 Plan. Common stock options issued under the 2022 Plan may have a term of up to ten years and may have variable vesting provisions based on time and performance. The issuance of awards under the 2022 Plan is administered by the Board or any committee of directors designated by the Board.

Restricted Stock Units

During the year ended December 31, 2023 and 2022, the Company issued restricted stock units to various employees and members of the board subject to continued service. Upon vesting of the award, subject to certain conditions for release of the award, the Company issues the underlying common stock of the Company.

The fair value of a restricted stock unit was determined based on the number of shares granted and the quoted price of the Company’s common stock on the date issued during the years ended December 31, 2023, and 2022.

A summary of the restricted stock unit activity during the year ended December 31, 2023 is as follows:

	Number of Shares						Weighted Average Grant-Date
	Unvested			Vested			Fair Value
Restricted stock units outstanding at January 1, 2023		994,766			397,376		$	15.44
Granted		148,970			-			5.77
Vested		(645,023	)		645,023
Released		-			(429,528	)
Cancelled		(299,446	)		-
Restricted stock units outstanding at December 31, 2023		199,267			612,871			13.55

On February 28, 2023 and June 30, 2023, the Company modified certain restricted stock units as a result of the resignation of two senior executives, where 38,026 and 42,635 restricted stock units with time-based vesting that were unvested were vested, respectively, subject to certain provisions, resulting in no incremental cost.

On November 22, 2022, the Company modified 232,816 restricted stock units that were issued to one former employee (Ross Levinsohn) to remove the market trading volume condition, resulting in incremental cost of $321 at the modification date.

The Company’s policy is to repurchase the number of shares of its common stock at the fair market value at the time of issuance of new shares of its common stock upon conversion of a restricted stock unit to cover the tax obligations. During the year ending December 31, 2024, the Company expects to repurchase approximately 295,000 shares of its common stock upon conversion of restricted stock units that are expected to vest and be released during the period.

The total intrinsic value of shares of the Company’s common stock issued for restricted stock units that were released during the years ended December 31, 2023 and 2022 were $2,955 and $8,707, respectively.

Information with respect to stock-based compensation cost related to the restricted stock units is included within the Restricted Stock caption under the heading Stock-Based Compensation.

Common Stock Options

During the years ended December 31, 2023 and 2022, the Company issued common stock options under the 2022 Plan, consisting of primarily of incentive stock options with a term of up to ten years with time-based vesting provisions over three years.

The fair value of common stock option awards granted during the years ended December 31, 2023 and 2022 was calculated using a Black-Scholes options-pricing model for the time-based awards under the Up-list Scenario, after the Company’s common stock was listed on the NYSE American. The fair value of common stock option awards granted during the year ended December 31, 2022 was calculated using the Black-Scholes option-pricing model for the time-based under the Probability Weighted Scenarios, prior to the Company’s common stock being listed on the NYSE American. The assumptions utilized are as follows:

	Years Ended December 31,
	2023			2022
	Up-list			Up-list			No Up-list
Risk-free interest rate		3.46% - 4.82	%		0.97% - 4.36	%		0.97% - 1.44	%
Expected dividend yield		0.00	%		0.00	%		0.00	%
Expected volatility		46.43% - 47.27	%		42.00% - 82.00	%		82.00% - 137.00	%
Expected life		6 years			3.0 – 6.0 years			3.0 – 6.0 years

A summary of the common stock option activity during the year ended December 31, 2023 is as follows:

Summary of Stock Option Activity

						Weighted
						Average
				Weighted		Remaining
				Average		Contractual
	Number of			Exercise		Life
	Shares			Price		(in Years)
Common stock options outstanding at January 1, 2023		6,199,521		$	15.26		8.20
Granted		287,993			4.22
Exercised		(6,927	)		8.82
Forfeited		(449,333	)		9.70
Expired		(579,286	)		9.38
Common stock options outstanding at December 31, 2023		5,451,968			9.56		4.43
Common stock options exercisable at December 31, 2023		4,049,393			9.64		5.06
Common stock options not vested at December 31, 2023		1,402,575
Common stock options available for future grants at December 31, 2023 (1)		542,847

(1)	Common stock available for future issuance under the 2022 Plan represent 1,800,000 of authorized shares; less 1,066,597 common stock options outstanding and 190,556 restricted stock units outstanding.

The aggregate grant date fair value of common stock options granted during the years ended December 31, 2023 and 2022 was $610 and $7,194, respectively. The weighted-average grant-date fair value of common stock options granted during the years ended December 31, 2023 and 2022 were $2.12 and $5.25, respectively.

The total intrinsic value of common stock options exercised during the years ended December 31, 2023 and 2022 were $10 and $1,507, respectively. The total fair value of common stock options vested during the years ended December 31, 2023 and 2022 were $10,155 and $12,694, respectively.

The unvested common stock options for which the vesting is expected based on achievement of a performance condition as of December 31, 2023 were 583,143 with a weighted average remaining contractual term of 5.28 years.

The Company’s policy is to repurchase the number of shares of its common stock at the fair market value at the time of issuance of its common stock upon exercise of common stock options to cover the tax obligations and any cashless exercise. In addition, the Company’s policy is to issue new shares of its common stock upon exercise of common stock options.

There was no intrinsic value of exercisable but unexercised in-the-money common stock option awards as of December 31, 2023 based on a fair market value of the Company’s common stock of $2.38 per share on December 31, 2023.

The exercise prices under the common stock options outstanding and exercisable are as follows as of December 31, 2023:

Exercise		Outstanding		Vested
Price		(Shares)		(Shares)
$	2.48 to $10.50		4,318,901		3,308,790
$	10.51 to $15.52		1,062,379		670,956
$	15.53 to $20.54		9,091		9,091
$	20.55 to $25.56		25,683		24,642
$	25.57 to $30.58		910		910
$	30.59 to $35.60		4,320		4,320
$	35.61 to $40.62		2,728		2,728
$	40.63 to $48.40		27,956		27,956
			5,451,968		4,049,393

Modification of Awards – On February 28, 2023, the Company modified certain equity awards as a result of the resignation of a senior executive employee where 38,026 restricted stock units with time-based vesting that were unvested were vested and 21,117 options to purchase 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 total of 45,632 options to purchase shares of the Company’s common stock (including previously vested options to purchase shares of the Company’s common stock of 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 year ended December 31, 2023.

On June 30, 2023, the Company modified certain equity awards upon the resignation of a senior executive employee pursuant to which unvested restricted stock units for 42,635 shares of the Company’s common stock vested, and unvested options for 29,701 shares of the Company’s common stock vested with the exercise period extended for the 10-year contractual term of the options from the grant date of the award. In connection with the termination, the unamortized costs of the awards of $773 was recognized at the termination date and $284 of incremental cost was recognized as a result of the option award modification upon termination of the senior executive.

On November 2, 2023, the Company modified options of former a senior executive officer for 450,560 shares of the Company’s common stock, pursuant to which the exercise period would be extended for the 10-year contractual term from the grant date of the award subject to continued employment through the closing date of the Business Combination (see Note 28) (the “conditions”). Incremental costs in connection with the modification was $380, of which no cost was recognized at the modification date since the conditions were not satisfied and the employment of the officer was terminated.

2022 Stock Option Repricing

On March 18, 2022, the Company approved a repricing of certain outstanding stock options (the “Stock Option Repricing”) granted under the Company’s 2016 Plan and 2019 Plan that had an exercise price above $ 8.82 per share, as well as certain outstanding stock options held by senior management of the Company under the Outside Options. The Stock Options Repricing was approved by the Board and stockholders. As a result of the Stock Option Repricing, the exercise prices were set to $8.82 per share, which was the closing sale price of the Company’s common stock as listed on the NYSE American exchange on March 18, 2022. Except for the repricing of the stock options under the 2019 Plan, all terms and conditions of each stock option remain in full force and effect. For the repricing of the stock options under the 2019 Plan, the Company (i) modified the exercise price; (ii) will allow cashless exercise as a method of paying the exercise price, and (iii) will waive a lock-up provision in the stock option agreements. All other term and conditions of each of the stock options under the 2019 Plan remain in full force and effect.

The Stock Option Repricing of approximately 4,343,017 stock option grants (for 340 employees) that were issued to employees of the Company, including senior management, resulted in incremental cost of $6,061, of which $143 was recognized at the time of the Stock Option Repricing for the fully vested awards and included on the consolidated statements of operations, and $5,918 will recognized over the remaining vesting term of the original award at the repricing date.

Information with respect to stock-based compensation cost and unrecognized stock-based compensation cost related to the common stock options is provided under the heading Stock-Based Compensation.

ABG Warrants

In connection with the Licensing Agreement and issuance of the ABG Warrants to purchase up to 999,540 shares of the Company’s common stock, the Company recorded the issuance of the warrants as stock-based compensation with the fair value of the warrants measured at the time of issuance and expensed over the requisite service period.

A summary of the ABG Warrant activity during the year ended December 31, 2023 is as follows:

Schedule of Warrants Activity

	Number of Shares				Weighted Average		Weighted Average Remaining Contractual Life
	Unvested		Vested		Exercise Price		(in years)
ABG Warrants outstanding at January 1, 2023		599,724		399,816	$	11.55		6.46
Vested		-		-
ABG Warrants outstanding at December 31, 2023		599,724		399,816		11.55		5.46

There was no intrinsic value of exercisable but unexercised in-the-money ABG Warrants as of December 31, 2023 based on a fair market value of the Company’s common stock of $2.38 per share on December 31, 2023. Information on the acceleration of the vesting of the ABG Warrants is provided in Note 28.

The exercise prices of the ABG Warrants outstanding and exercisable are as follows as of December 31, 2023.

Exercise		Outstanding		Exercisable
Price		(Shares)		(Shares)
$	9.24		749,655		299,862
$	18.48		249,885		99,954
			999,540		399,816

Information with respect to compensation cost and unrecognized compensation cost related to the ABG Warrants is provided under the heading Stock-Based Compensation.

Publisher Partner Warrants

Publisher Partner Warrants – Publisher Partner Warrants outstanding as of January 1, 2023, totaling 4,154, expired during the year ended December 31, 2023. As of December 31, 2023, there are no Publisher Partner Warrants outstanding.

New Publisher Partner Warrants

A summary of the New Publisher Partner Warrants activity during the year ended December 31, 2023 is as follows:

Schedule of Warrants Activity

					Weighted
					Average
			Weighted		Remaining
			Average		Contractual
	Number of		Exercise		Life
	Shares		Price		(in Years)
New Publisher Partner Warrants outstanding at January 1, 2023		-	$	-		-
Granted		9,800		6.91		-
New Publisher Partner Warrants outstanding at December 31, 2023		9,800		6.91		4.15
New Publisher Partner Warrants exercisable at December 31, 2023		1,084		10.56		3.92
New Publisher Partner Warrants not vested at December 31, 2023		8,716
New Publisher Partner Warrants available for future grants at December 31, 2023		23,000

There was no intrinsic value of exercisable but unexercised in-the-money New Publisher Partner Warrants since the fair market value of $2.38 per share of the Company’s common stock was lower than the exercise prices on December 31, 2023.

The exercise prices of the New Publisher Partner Warrants outstanding and exercisable are as follows as of December 31, 2023.

Exercise		Outstanding		Exercisable
Price		(Shares)		(Shares)
$	5.30		6,800		-
$	10.56		3,000		1,084
			9,800		1,084

Stock-Based Compensation

Stock–based compensation and equity-based expense charged to operations or capitalized during the years ended December 31, 2023 and 2022 are summarized as follows:

Summary of Stock-based Compensation

	Year Ended December 31, 2023
	Restricted Stock		Common Stock Options		ABG Warrants		Totals
Cost of revenue	$	2,092		4,460		10	$	6,562
Selling and marketing		257		1,402		-		1,659
General and administrative		6,372		3,457		1,010		10,839
Total costs charged to operations		8,721		9,319		1,020		19,060
Capitalized platform development		-		1,016		-		1,016
Total stock-based compensation	$	8,721		10,335		1,020	$	20,076

	Year Ended December 31, 2022
	Restricted Stock		Common Stock Options		ABG Warrants		Totals
Cost of revenue	$	3,730	$	6,505	$	-	$	10,235
Selling and marketing		270		2,502		-		2,772
General and administrative		9,067		7,776		1,495		18,338
Total costs charged to operations		13,067		16,783		1,495		31,345
Capitalized platform development		-		1,884		-		1,884
Total stock-based compensation	$	13,067	$	18,667	$	1,495	$	33,229

Unrecognized compensation expense related to the stock-based compensation awards and equity-based awards as of December 31, 2023 was as follows:

	As of December 31, 2023
	Restricted Stock		Common Stock Options		ABG Warrants		Totals
Unrecognized compensation expense	$	1,191	$	4,192	$	26	$	5,409
Weighted average period expected to be recognized (in years)		1.84		1.33		2.01		1.45

Discontinued Operations

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

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 in Note 15).

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 termination fee liability.

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

3. Discontinued Operations

The Company, upon Board approval on September 15, 2022, discontinued (i.e., the “discontinued operations”) the Parade print business (“Parade Print”) that was acquired on April 1, 2022 (as part of the Parade acquisition, as further described below in Note 4), on November 13, 2022 (the last date of any obligation to deliver issues of Parade Print).

The table below sets forth the loss from discontinued operations for the period from April 1, 2022 to December 31, 2022:

Schedule of Discontinued Operations


Revenue	$	26,817
Cost of revenue		23,015
Gross profit		3,802
Operating expense
Selling and marketing		5,396
General and administrative		1,722
Loss on impairment of assets		209
Total operating expenses		7,327
Loss from discontinued operations		(3,525	)
Income tax benefit		55
Net loss from discontinued operations	$	(3,470	)

The discontinued operations of Parade Print also included Relish and Spry Living print products that were acquired as part of the Parade acquisition. Further information is provided under the heading Supplemental Pro Forma Information in Note 4.

During the year ended December 31, 2022, the Company recorded depreciation and amortization of $0; and operating and investing noncash items of $209 and $0, respectively, as part of the discontinued operations.

Schedule of Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Contingent Consideration [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Long term debt fair value	$ 1,571	$ 1,571
Contingent Consideration [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Long term debt fair value
Contingent Consideration [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Long term debt fair value	1,571	1,571
Contingent Consideration [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Long term debt fair value
Senior Secured Note [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Long term debt fair value			$ 61,787
Senior Secured Note [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Long term debt fair value
Senior Secured Note [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Long term debt fair value			61,787
Senior Secured Note [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Long term debt fair value

Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

9. Intangible Assets

Intangible assets subject to amortization consisted of the following:

	As of December 31, 2023									As of December 31, 2022
	Weighted Average Useful Life (in years)		Carrying Amount		Accumulated Amortization			Net Carrying Amount		Carrying Amount		Accumulated Amortization			Net Carrying Amount
Developed technology		4.70	$	17,333	$	(17,333	)	$	-	$	17,333	$	(14,883	)	$	2,450
Trade name		16.10		5,181		(1,547	)		3,634		5,380		(1,180	)		4,200
Brand name		9.70		12,774		(2,374	)		10,400		12,115		(908	)		11,207
Subscriber relationships		5.10		73,459		(61,654	)		11,805		73,459		(47,146	)		26,313
Advertiser relationships		10.20		15,182		(2,832	)		12,350		15,302		(1,368	)		13,934
Database		3.00		2,397		(2,171	)		226		2,397		(1,753	)		644
Digital content		2.00		355		(311	)		44		355		(133	)		222
Total intangible assets			$	126,681	$	(88,222	)	$	38,459	$	126,341	$	(67,371	)	$	58,970

Intangible assets subject to amortization were recorded as part of the Company’s business acquisitions. Amortization expense for the years ended December 31, 2023 and 2022 was $21,022 and $20,748, respectively, of which amortization expense for developed technology of $2,130 and $2,831, respectively, is included in cost of revenue on the consolidated statements of operations. No impairment charges for the year ended December 31, 2023 was recorded for the intangible assets. Impairment charges for the year ended December 31, 2022 of $47 were recorded for the intangible assets on the consolidated statements of operations.

Estimated total amortization expense for the next five years and thereafter related to the Company’s intangible assets subject to amortization as of December 31, 2023 is as follows:


Years Ending December 31,
2024	$	14,544
2025		3,427
2026		3,214
2027		3,214
2028		2,964
Thereafter		11,096
Intangible assets ,net	$	38,459

Schedule of Allowance For Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Allowance for doubtful accounts beginning of year	$ 374	$ 2,236	$ 1,578
Additions	670	315	658
Deductions – write-offs	(268)	(1,570)
Allowance for doubtful accounts end of period	649	374	2,236
Deductions – discontinued operations	(127)	(607)
Restatement [Member]
Allowance for doubtful accounts beginning of year	$ 981	2,236
Additions		315
Deductions – write-offs		(1,570)
Allowance for doubtful accounts end of period		$ 981	$ 2,236

Accrued Expenses and Other

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Accrued Expenses and Other

13. Accrued Expenses and Other

Accrued expenses and other are summarized as follows:

Schedule of Accrued Expenses

	2023		2022
	As of December 31,
	2023		2022
General accrued expenses	$	6,486	$	6,339
Accrued payroll and related taxes		5,448		5,221
Accrued publisher expenses		7,596		4,911
Accrued interest		3,824		-
Liabilities in connection with acquisitions and dispositions		1,119		1,123
Assumed lease liability		1,328		-
Lease termination liability		4,481		4,753
Other accrued expenses		489		755
Total accrued expenses and other	$	30,771	$	23,102

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 Significant Accounting Policies (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Accounting Policies [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

The following table provides information about disaggregated revenue by category, geographical market and timing of revenue recognition:

Schedule of Disaggregation of Revenue

	2023		2022
	Years Ended December 31,
	2023		2022
Revenue by category:
Digital revenue
Digital advertising	$	135,376	$	109,317
Digital subscriptions		12,764		21,156
Licensing and syndication revenue		18,482		18,173
Other digital revenue		5,384		1,166
Total digital revenue		172,006		149,812
Print revenue
Print advertising		9,881		10,214
Print subscriptions		62,316		60,909
Total print revenue		72,197		71,123
Total revenue	$	244,203	$	220,935
Revenue by geographical market:
United States	$	234,012	$	218,110
Other		10,191		2,825
Total revenue	$	244,203	$	220,935
Revenue by timing of recognition:
At point in time	$	231,439	$	199,779
Over time		12,764		21,156
Total revenue	$	244,203	$	220,935

Schedule of Contract with Customer, Asset and Liability

The following table provides information about contract balances:

	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

The following table provides information about contract balances:

	2023		2022
	As of December 31,
	2023		2022
Unearned revenue (short-term contract liabilities):
Digital revenue	$	14,397	$	18,571
Print revenue		45,389		40,132
	$	59,786	$	58,703
Unearned revenue (long-term contract liabilities):
Digital revenue	$	542	$	1,118
Print revenue		10,137		18,583
	$	10,679	$	19,701

Schedule of Cash and Restricted Cash

The following table reconciles total cash, cash equivalents, and restricted cash:

Schedule of Cash and Restricted Cash

	2023		2022
	As of December 31,
	2023		2022
Cash and cash equivalents	$	9,284	$	13,871
Restricted cash		-		502
Total cash, cash equivalents, and restricted cash	$	9,284	$	14,373

Schedule of Allowance For Doubtful Accounts

The following table summarizes the allowance for doubtful accounts activity:

	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

The following table summarizes the allowance for doubtful accounts activity:

	2023			2022
	Years Ended of December 31,
	2023			2022
Allowance for doubtful accounts beginning of year	$	2,236		$	1,578
Additions		315			658
Deductions - write-offs		(1,570	)		-
Allowance for doubtful accounts end of year	$	981		$	2,236

Schedule of Depreciation and Amortization, Useful Lives of Assets

Office equipment and computers	1 – 3 years
Furniture and fixtures	1 – 5 years

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

	As of December 31,
	2023		2022
Series G Preferred Stock		8,582		8,582
Series H Preferred Stock		-		1,981,128
Financing Warrants		-		107,956
ABG Warrants		999,540		999,540
AllHipHop Warrants		5,682		5,682
Publisher Partner Warrants		9,800		4,154
Restricted stock awards		-		97,403
Restricted stock units		199,267		994,766
Common stock options		5,451,968		6,199,521
Total		6,674,839		10,398,732

Bridge Notes (Details Narrative) - USD ($) $ in Thousands					3 Months Ended	12 Months Ended
Bridge Notes (Details Narrative) - USD ($) $ in Thousands	Sep. 29, 2023	Aug. 31, 2023	Dec. 31, 2022	Dec. 15, 2022	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Nov. 27, 2023
Short-Term Debt [Line Items]
Debt Instrument, Face Amount						$ 110,691
Debt Instrument, Periodic Payment, Principal					$ 102,691	102,691
Long-Term Debt, Gross			$ 66,691		102,691	102,691	$ 66,691
2023 Notes [Member]
Short-Term Debt [Line Items]
Debt Instrument, Face Amount		$ 5,000						$ 2,000
Other Borrowings		3,000
Aggregate principal minimum amount	$ 1,000	$ 1,000
Proceeds from Issuance of Debt	7,643
Debt Securities, Available-for-Sale, Amortized Cost, Current	$ 357
Debt Instrument, Interest Rate, Effective Percentage		10.00%
Proceeds from Debt, Net of Issuance Costs						8,000
Prepayment Fees on Advances, Net		$ 8,000				$ 8,000
Principal amount prepay due		100.00%				100.00%
Bridge Notes [Member]
Short-Term Debt [Line Items]
Debt Instrument, Face Amount					$ 8,000	$ 7,887
Debt Instrument, Maturity Date		Apr. 30, 2024				Apr. 30, 2024
Debt Instrument, Interest Rate, Stated Percentage					14.20%	14.20%
Debt Instrument, Unamortized Discount, Current						$ 113
Debt Instrument, Periodic Payment, Principal					$ 8,000	$ 8,000
Debt Instrument, Unamortized Premium					28
Long-Term Debt, Gross					$ 7,972
2022 Bridge Notes [Member]
Short-Term Debt [Line Items]
Debt Instrument, Face Amount			$ 34,805	$ 36,000			34,805
Proceeds from Issuance of Debt				$ 34,728
Debt Instrument, Interest Rate, Effective Percentage				10.00%
Debt Instrument, Maturity Date			Dec. 31, 2026		Dec. 31, 2026
Debt Instrument, Interest Rate, Stated Percentage					12.00%	12.00%
Debt Instrument, Periodic Payment, Principal							36,000
Debt Issuance Costs, Net			$ 100	$ 1,272			100
Debt Instrument, Unamortized Premium			1,195				1,195
Long-Term Debt, Gross					$ 36,000	$ 36,000

Compensation Plans (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

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 Stock		Common Stock Options		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 Stock		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:

	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

Unrecognized compensation expense related to the stock-based compensation awards and equity-based awards as of December 31, 2023 was as follows:

	As of December 31, 2023
	Restricted Stock		Common Stock Options		ABG Warrants		Totals
Unrecognized compensation expense	$	1,191	$	4,192	$	26	$	5,409
Weighted average period expected to be recognized (in years)		1.84		1.33		2.01		1.45

New Publisher Partner Warrant [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Schedule of Exercise Prices of Common Stock Options

The exercise prices of the New Publisher Partner Warrants outstanding and exercisable are as follows as of December 31, 2023.

Exercise		Outstanding		Exercisable
Price		(Shares)		(Shares)
$	5.30		6,800		-
$	10.56		3,000		1,084
			9,800		1,084

Schedule of Warrants Activity

A summary of the New Publisher Partner Warrants activity during the year ended December 31, 2023 is as follows:

Schedule of Warrants Activity

					Weighted
					Average
			Weighted		Remaining
			Average		Contractual
	Number of		Exercise		Life
	Shares		Price		(in Years)
New Publisher Partner Warrants outstanding at January 1, 2023		-	$	-		-
Granted		9,800		6.91		-
New Publisher Partner Warrants outstanding at December 31, 2023		9,800		6.91		4.15
New Publisher Partner Warrants exercisable at December 31, 2023		1,084		10.56		3.92
New Publisher Partner Warrants not vested at December 31, 2023		8,716
New Publisher Partner Warrants available for future grants at December 31, 2023		23,000

ABG Warrants [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Schedule of Exercise Prices of Common Stock Options

The exercise prices of the ABG Warrants outstanding and exercisable are as follows as of December 31, 2023.

Exercise		Outstanding		Exercisable
Price		(Shares)		(Shares)
$	9.24		749,655		299,862
$	18.48		249,885		99,954
			999,540		399,816

Schedule of Warrants Activity

A summary of the ABG Warrant activity during the year ended December 31, 2023 is as follows:

Schedule of Warrants Activity

	Number of Shares				Weighted Average		Weighted Average Remaining Contractual Life
	Unvested		Vested		Exercise Price		(in years)
ABG Warrants outstanding at January 1, 2023		599,724		399,816	$	11.55		6.46
Vested		-		-
ABG Warrants outstanding at December 31, 2023		599,724		399,816		11.55		5.46

Summary of Stock-based Compensation

Stock–based compensation and equity-based expense charged to operations or capitalized during the years ended December 31, 2023 and 2022 are summarized as follows:

Summary of Stock-based Compensation

	Year Ended December 31, 2023
	Restricted Stock		Common Stock Options		ABG Warrants		Totals
Cost of revenue	$	2,092		4,460		10	$	6,562
Selling and marketing		257		1,402		-		1,659
General and administrative		6,372		3,457		1,010		10,839
Total costs charged to operations		8,721		9,319		1,020		19,060
Capitalized platform development		-		1,016		-		1,016
Total stock-based compensation	$	8,721		10,335		1,020	$	20,076

	Year Ended December 31, 2022
	Restricted Stock		Common Stock Options		ABG Warrants		Totals
Cost of revenue	$	3,730	$	6,505	$	-	$	10,235
Selling and marketing		270		2,502		-		2,772
General and administrative		9,067		7,776		1,495		18,338
Total costs charged to operations		13,067		16,783		1,495		31,345
Capitalized platform development		-		1,884		-		1,884
Total stock-based compensation	$	13,067	$	18,667	$	1,495	$	33,229

Restricted Stock Units [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Schedule of Restricted Stock Units Activity

A summary of the restricted stock unit activity during the year ended December 31, 2023 is as follows:

	Number of Shares						Weighted Average Grant-Date
	Unvested			Vested			Fair Value
Restricted stock units outstanding at January 1, 2023		994,766			397,376		$	15.44
Granted		148,970			-			5.77
Vested		(645,023	)		645,023
Released		-			(429,528	)
Cancelled		(299,446	)		-
Restricted stock units outstanding at December 31, 2023		199,267			612,871			13.55

Common Equity Awards [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Schedule of Fair Value of Stock Options Assumptions

	Years Ended December 31,
	2023			2022
	Up-list			Up-list			No Up-list
Risk-free interest rate		3.46% - 4.82	%		0.97% - 4.36	%		0.97% - 1.44	%
Expected dividend yield		0.00	%		0.00	%		0.00	%
Expected volatility		46.43% - 47.27	%		42.00% - 82.00	%		82.00% - 137.00	%
Expected life		6 years			3.0 – 6.0 years			3.0 – 6.0 years

Summary of Stock Option Activity

A summary of the common stock option activity during the year ended December 31, 2023 is as follows:

Summary of Stock Option Activity

						Weighted
						Average
				Weighted		Remaining
				Average		Contractual
	Number of			Exercise		Life
	Shares			Price		(in Years)
Common stock options outstanding at January 1, 2023		6,199,521		$	15.26		8.20
Granted		287,993			4.22
Exercised		(6,927	)		8.82
Forfeited		(449,333	)		9.70
Expired		(579,286	)		9.38
Common stock options outstanding at December 31, 2023		5,451,968			9.56		4.43
Common stock options exercisable at December 31, 2023		4,049,393			9.64		5.06
Common stock options not vested at December 31, 2023		1,402,575
Common stock options available for future grants at December 31, 2023 (1)		542,847

(1)	Common stock available for future issuance under the 2022 Plan represent 1,800,000 of authorized shares; less 1,066,597 common stock options outstanding and 190,556 restricted stock units outstanding.

Common Stock Awards [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Schedule of Exercise Prices of Common Stock Options

The exercise prices under the common stock options outstanding and exercisable are as follows as of December 31, 2023:

Exercise		Outstanding		Vested
Price		(Shares)		(Shares)
$	2.48 to $10.50		4,318,901		3,308,790
$	10.51 to $15.52		1,062,379		670,956
$	15.53 to $20.54		9,091		9,091
$	20.55 to $25.56		25,683		24,642
$	25.57 to $30.58		910		910
$	30.59 to $35.60		4,320		4,320
$	35.61 to $40.62		2,728		2,728
$	40.63 to $48.40		27,956		27,956
			5,451,968		4,049,393

Schedule of Long Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Short-Term Debt [Line Items]
Principal balance	$ 102,691	$ 102,691	$ 66,691
Unamortized discount and debt issuance costs	(349)	(382)	(1,007)
Carrying value	102,342	102,309	65,684
Senior Secured Note [Member]
Short-Term Debt [Line Items]
Principal balance	62,691	62,691	62,691
Unamortized discount and debt issuance costs	(249)	(272)	(904)
Carrying value	62,442	62,419	61,787
Delayed Draw Term Notes [Member]
Short-Term Debt [Line Items]
Principal balance	4,000	4,000	4,000
Unamortized discount and debt issuance costs	(28)	(31)	(103)
Carrying value	3,972	3,969	3,897
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

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

Liquidated Damages Payable

Liquidated Damages Payable

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

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 and $2,924, respectively. The Company will continue to accrue interest on the liquidated damages balance at 1.0% per month based on the balance outstanding as of March 31, 2024, or $3,000, until paid. There is no scheduled date when the unpaid liquidated damages become due. The Series K convertible preferred stock remains subject to Registration Rights Damages and Public Information Failure Damages, which will accrue in certain circumstances, limited to 6% of the aggregate amount invested.

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 shares of its common stock at a price equal to $10.56 per share (determined based on the volume-weighted average price of the Company’s common stock at the close of trading on the ninety (60) previous trading days), to the investor in lieu of an aggregate of $499 owed in liquidated damages as of the conversion date. On February 10, 2023, the Company issued 35,486 shares of its common stock in satisfaction of the liquidated damages, with the remaining shares issued after March 31, 2023. The Company prepared and filed a registration statement covering the resale of these shares of the Company’s common stock issued in lieu of payment of these liquidated damages in cash. During the three months ended March 31, 2023, the Company recorded $324 in connection with the issuance of shares of the Company’s common stock and a gain of $46 on the settlement of the liquidated damages, totaling $370, which was recorded in additional paid-in capital on the condensed consolidated statement of stockholders’ deficiency.

15. Liquidated Damages Payable

Liquidated damages were recorded as a result of the following: (i) certain registration rights agreements 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 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 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 (2)		-		144		72		216
Series J convertible preferred stock (2)		152		152		129		433
Series K convertible preferred stock (2)		166		70		226		462
Total	$	898	$	940	$	1,086	$	2,924

(1)	Shares of common stock issuable to MDB Capital Group, LLC (“MDB”) (see Common Stock to be Issued in Note 21).
(2)	Represents previously issued and converted debt or equity securities.

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 shares of its common stock, in satisfaction of the liquidated damages, at a price equal to $10.56 per share (determined based on the volume-weighted average price of the Company’s common stock at the close of trading on the sixty (60) previous trading days), to the investor in lieu of an aggregate of $499 owed in liquidated damages as of the conversion date. The Company prepared and filed a registration statement covering the resale of these shares of the Company’s common stock issued in lieu of payment of these liquidated damages in cash. During the year ended December 31, 2023, the Company recorded $499 in connection with the issuance of shares of the Company’s common stock on the consolidated statements of stockholders’ deficiency (further details are provided under the heading Common Stock for Liquidated Damages in Note 21).

On December 1, 2023, the Company entered into a waiver of liquidated damages and release of claims, where B. Riley, a principal stockholder at the time, relinquished any claims to liquidated damages and accrued interest thereon amounting to $3,497, which resulted in a gain on forgiveness of debt. Given this transaction was with a related party and in connection with other contemporaneous transactions with another principal stockholder, Simplify (further described in Note 26), the gain of $3,497 was recorded within additional paid-in capital on the consolidated statement of stockholders’ deficiency.

As of December 31, 2023, the short-term liquidated damages payable was $2,924. The Company will continue to accrue interest on the liquidated damages balance at 1% per month based on the balance outstanding as of December 31, 2023, or $2,924, until paid. There is no scheduled date when the unpaid liquidated damages become due. The previously issued and converted Series K convertible preferred stock remains subject to Registration Rights Damages and Public Information Failure Damages, which will accrue in certain circumstances, limited to 6% of the aggregate amount invested.

	As of December 31, 2022
	Registration Rights Damages		Public Information Failure Damages		Accrued Interest		Balance
MDB common stock to be issued (1)	$	15	$	-	$	-	$	15
Series H Preferred Stock		618		626		570		1,814
Convertible debentures (2)		-		704		280		984
Series J convertible preferred stock (2)		932		932		525		2,389
Series K convertible preferred stock (2)		437		478		220		1,135
Total	$	2,002	$	2,740	$	1,595	$	6,337

(1)	Shares of common stock issuable to MDB.
(2)	Represents previously issued and converted debt or equity securities.

As of December 31, 2022, the short-term and long-term liquidated damages payable were $5,843 and $494, respectively, totaling $6,337. The long-term portion was converted into shares of the Company’s common stock on January 24, 2022 (further details are provided under heading Common Stock for Liquidated Damages in Note 21).

Information with respect to the liquidated damages recognized on the consolidated statements of operations is provided in Note 23.

Summary of Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Security deposit		$ 420	$ 420
Other receivables		90
Prepaid insurance		284	504
Unamortized debt cost		209	216
Total other assets	$ 733	$ 1,003	$ 1,140

Condensed Consolidated Statements of Stockholders' Deficiency - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Balance – January 1, 2023	$ (58,995)	$ (52,146)	$ (52,146)	$ (51,677)
Issuance of common stock in connection with registered direct offering		11,211	11,144
Issuance of common stock upon conversion of series H preferred stock			13,008	710
Issuance of stock in connection with the merger of Say Media
Issuance of common stock in connection with professional services				184
Repurchase restricted stock awards in connection with HubPages merger
Issuance of common stock in connection with private placement	12,000			30,490
Repurchase of common stock for Fexy put option	(379)
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	369	6,685
Gain upon issuance of common stock in connection with settlement of liquidated damages		46	130	323
Issuance of common stock for restricted stock units
Common stock withheld for taxes	(479)	(1,423)	(1,423)	(4,468)
Issuance of common stock upon exercise of stock options				95
Issuance of common stock in connection with the acquisition of Fexy Studios		2,000		3,141
Reclassification to liability upon modification of common stock option		(68)	(68)
Gain upon forgiveness of liquidated damages with principal stockholder			3,497
Stock-based compensation	1,659	6,734	20,076	33,229
Net Loss	(103,358)	(19,377)	(55,582)	(70,858)
Balance – March 31, 2023	(149,552)	(52,699)	(58,995)	(52,146)
Bridge Media Networks L L C [Member]
Balance – January 1, 2023	12,815	4,669	4,669	0
Contributions	2,443	805	35,302	4,796
Distributions		(2,075)	(17,118)
Net Loss	(2,067)	(1,737)	(10,038)	(127)
Balance – March 31, 2023	13,191	1,662	12,815	4,669
Common Stock [Member]
Balance – January 1, 2023	$ 237	$ 182	$ 182	$ 126
Balance, shares	23,836,706	18,303,193	18,303,193	12,635,591
Issuance of common stock in connection with registered direct offering		$ 30	$ 30
Issuance of common stock in connection with registered direct offering, shares		2,963,918	2,963,918
Issuance of common stock upon conversion of series H preferred stock			$ 20	$ 1
Issuance of common stock upon conversion of series H preferred stock, shares			1,981,128	97,980
Issuance of stock in connection with the merger of Say Media
Issuance of common stock in connection with the merger of SayMedia, shares				7,851
Issuance of common stock in connection with professional services
Issuance of common stock in connection with professional services, shares				14,617
Repurchase restricted stock awards in connection with HubPages merger
Repurchase restricted stock awards in connection with HubPages merger, shares				(26,214)
Issuance of common stock in connection with private placement	$ 56			$ 42
Issuance of common stock in connection with private placement, shares	5,555,555			4,181,603
Repurchase of common stock for Fexy put option	$ (3)
Repurchase of common stock for Fexy put option, shares	(274,692)
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				$ 5
Issuance of common stock in connection with settlement of liquidated damages, shares		35,486	47,252	505,655
Gain upon issuance of common stock in connection with settlement of liquidated damages
Issuance of common stock for restricted stock units	$ 7	$ 4	$ 4	$ 8
Issuance of common stock for restricted stock units, shares	678,165	397,376	429,528	832,233
Common stock withheld for taxes	$ (3)	$ (2)	$ (2)	$ (4)
Common stock withheld for taxes, shares	(282,171)	(202,382)	(202,382)	(373,394)
Issuance of common stock upon exercise of stock options				$ 1
Issuance of common stock upon exercise of stock option, shares		795	795	96,408
Issuance of common stock in connection with the acquisition of Fexy Studios		$ 3		$ 3
Issuance of common stock in connection with the acquisition of Fexy Studios, shares		274,692	38,582	330,863
Reclassification to liability upon modification of common stock option
Gain upon forgiveness of liquidated damages with principal stockholder
Stock-based compensation
Net Loss
Balance – March 31, 2023	$ 294	$ 217	$ 237	$ 182
Balance, shares	29,513,563	21,773,078	23,836,706	18,303,193
Common Stock To Be Issued [Member]
Balance – January 1, 2023
Balance, shares	2,701	41,283	41,283	49,134
Issuance of common stock in connection with registered direct offering
Issuance of common stock upon conversion of series H preferred stock
Issuance of stock in connection with the merger of Say Media
Issuance of common stock in connection with the merger of SayMedia, shares				(7,851)
Issuance of common stock in connection with professional services
Repurchase restricted stock awards in connection with HubPages merger
Issuance of common stock in connection with private placement
Repurchase of common stock for Fexy put option
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 for restricted stock units
Common stock withheld for taxes
Issuance of common stock upon exercise of stock options
Issuance of common stock in connection with the acquisition of Fexy Studios
Issuance of common stock in connection with the acquisition of Fexy Studios, shares			(38,582)
Reclassification to liability upon modification of common stock option
Gain upon forgiveness of liquidated damages with principal stockholder
Stock-based compensation
Net Loss
Balance – March 31, 2023
Balance, shares	2,701	41,283	2,701	41,283
Additional Paid-in Capital [Member]
Balance – January 1, 2023	$ 319,421	$ 270,743	$ 270,743	$ 200,410
Issuance of common stock in connection with registered direct offering		11,181	11,114
Issuance of common stock upon conversion of series H preferred stock			12,988	709
Issuance of stock in connection with the merger of Say Media
Issuance of common stock in connection with professional services				184
Repurchase restricted stock awards in connection with HubPages merger
Issuance of common stock in connection with private placement	11,944			30,448
Repurchase of common stock for Fexy put option	(376)
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	369	6,680
Gain upon issuance of common stock in connection with settlement of liquidated damages		46	130	323
Issuance of common stock for restricted stock units	(7)	(4)	(4)	(8)
Common stock withheld for taxes	(476)	(1,421)	(1,421)	(4,464)
Issuance of common stock upon exercise of stock options				94
Issuance of common stock in connection with the acquisition of Fexy Studios		1,997		3,138
Reclassification to liability upon modification of common stock option		(68)	(68)
Gain upon forgiveness of liquidated damages with principal stockholder			3,497
Stock-based compensation	1,659	6,734	20,076	33,229
Net Loss
Balance – March 31, 2023	332,165	289,532	319,421	270,743
Retained Earnings [Member]
Balance – January 1, 2023	(378,653)	(323,071)	(323,071)	(252,213)
Issuance of common stock in connection with registered direct offering
Issuance of common stock upon conversion of series H preferred stock
Issuance of stock in connection with the merger of Say Media
Issuance of common stock in connection with professional services
Repurchase restricted stock awards in connection with HubPages merger
Issuance of common stock in connection with private placement
Repurchase of common stock for Fexy put option
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 for restricted stock units
Common stock withheld for taxes
Issuance of common stock upon exercise of stock options
Issuance of common stock in connection with the acquisition of Fexy Studios
Reclassification to liability upon modification of common stock option
Gain upon forgiveness of liquidated damages with principal stockholder
Stock-based compensation
Net Loss	(103,358)	(19,377)	(55,582)	(70,858)
Balance – March 31, 2023	(482,011)	(342,448)	(378,653)	(323,071)
Retained Earnings [Member] \| Bridge Media Networks L L C [Member]
Balance – January 1, 2023	12,815	4,669	4,669	0
Contributions	2,443	805	35,302	4,796
Distributions		(2,075)	(17,118)
Net Loss	(2,067)	(1,737)	(10,038)	(127)
Balance – March 31, 2023	$ 13,191	$ 1,662	$ 12,815	$ 4,669

Summary of Stock Option Activity (Details) - $ / shares

12 Months Ended

Jun. 30, 2023

Feb. 28, 2023

Nov. 22, 2022

Mar. 18, 2022

Dec. 31, 2023

Dec. 31, 2022

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Number of Shares, Granted

42,635

38,026

232,816

4,343,017

Weighted Average Exercise Price, Granted

$ 8.82

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term

5 years 3 months 10 days

2022 Plan [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Number of Shares Common stock options, outstanding at Beginning balance

6,199,521

Weighted Average Exercise Price, outstanding at Beginning balance

$ 15.26

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term

4 years 5 months 4 days

8 years 2 months 12 days

Number of Shares, Granted

287,993

Weighted Average Exercise Price, Granted

$ 4.22

Number of Shares, Exercised

(6,927)

Weighted Average Exercise Price, Exercised

$ 8.82

Number of Shares, Forfeited

(449,333)

Weighted Average Exercise Price, Forfeited

$ 9.70

Number of Shares, Expired

(579,286)

Weighted Average Exercise Price, Expired

$ 9.38

Number of Shares Common stock options, outstanding at Ending balance

5,451,968

6,199,521

Weighted Average Exercise Price, outstanding at Ending balance

$ 9.56

$ 15.26

Number of Shares Common stock options, exercisable at Ending balance

4,049,393

Weighted Average Exercise Price, exercisable at Ending balance

$ 9.64

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term

5 years 21 days

Number of Shares Common stock options, not vested at Ending balance

1,402,575

Number of Shares Common stock options, available for future grants at Ending balance

^[1]

542,847

[1]	Common stock available for future issuance under the 2022 Plan represent

Intangible Assets (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets Subject to Amortization

Intangible Assets – Intangible assets subject to amortization consisted of the following:

	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 consisted of the following:

	As of December 31, 2023									As of December 31, 2022
	Weighted Average Useful Life (in years)		Carrying Amount		Accumulated Amortization			Net Carrying Amount		Carrying Amount		Accumulated Amortization			Net Carrying Amount
Developed technology		4.70	$	17,333	$	(17,333	)	$	-	$	17,333	$	(14,883	)	$	2,450
Trade name		16.10		5,181		(1,547	)		3,634		5,380		(1,180	)		4,200
Brand name		9.70		12,774		(2,374	)		10,400		12,115		(908	)		11,207
Subscriber relationships		5.10		73,459		(61,654	)		11,805		73,459		(47,146	)		26,313
Advertiser relationships		10.20		15,182		(2,832	)		12,350		15,302		(1,368	)		13,934
Database		3.00		2,397		(2,171	)		226		2,397		(1,753	)		644
Digital content		2.00		355		(311	)		44		355		(133	)		222
Total intangible assets			$	126,681	$	(88,222	)	$	38,459	$	126,341	$	(67,371	)	$	58,970

Schedule of Future Estimated Amortization expense For Intangible Assets

Estimated total amortization expense for the next five years and thereafter related to the Company’s intangible assets subject to amortization as of December 31, 2023 is as follows:


Years Ending December 31,
2024	$	14,544
2025		3,427
2026		3,214
2027		3,214
2028		2,964
Thereafter		11,096
Intangible assets ,net	$	38,459

Bridge Notes

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [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 in Note 18), on August 31, 2023, the Company issued $5,000 aggregate principal amount of senior secured notes (the “2023 Notes”). The provisions of the First Amendment also permit certain incremental borrowings in the amount up to $3,000 at the sole discretion of the purchaser (the “Incremental 2023 Notes”), subject to a minimum amount of $1,000 and other conditions. On September 29, 2023, the Company issued $1,000 aggregate principal amount of senior secured notes pursuant to the incremental borrowings. On November 27, 2023, the Company issued $2,000 aggregate principal amount of senior secured notes pursuant to the incremental borrowings.

The terms of 2023 Notes provide for:

	●	an interest rate fixed at 10.0% per annum;

	●	an original maturity date of April 30, 2024, as amended pursuant to the forbearance (as described below and in Note 18), and a prepayment requirement to apply a portion of the net proceeds from the Business Combination to repay $8,000 (and any additional amounts borrowed pursuant to the incremental borrowing arrangement described above) under the notes;

	●	a provision for the failure to repay the $8,000 prepayment requirement in full with the proceeds of the Business Combination or failure to consummate the Business Combination, as amended pursuant to the forbearance, will result in an event of default under the notes; and

	●	an election to prepay the notes, at any time, at 100% of the principal amount due with no premium or penalty.

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%. As of March 31, 2024, the balance outstanding under the 2023 Notes was $7,972 ($8,000 principal balance less unamortized debt costs of $28). As of March 31, 2024, the principal balance due of $8,000 remains subject to the forbearance (see Note 18).

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 in Note 12.

18. Bridge Notes

2023 Notes

In connection with the Note Purchase Agreement, First Amendment and Second Amendment (as further described under the heading Principal Stockholders in Note 26), on August 31, 2023, the Company issued $5,000 aggregate principal amount of senior secured notes (the “2023 Notes”). The provisions of the First Amendment also permit certain incremental borrowings in the amount up to $3,000 at the sole discretion of the purchaser (the “Incremental 2023 Notes”), subject to a minimum amount of $1,000 and other conditions. On September 29, 2023, the Company issued $1,000 aggregate principal amount of senior secured notes pursuant to the incremental borrowings. On November 27, 2023, the Company issued $2,000 aggregate principal amount of senior secured notes pursuant to the incremental borrowings. In connection with the issuance of the 2023 Notes, the Company received net proceeds of $7,643 from the issuance of the notes and incurred debt costs of $357 that is being amortized over the expected life of the debt.

The terms of 2023 Notes provide for:

	●	an interest rate fixed at 10.0% per annum;

	●	a maturity date of April 30, 2024, as amended pursuant to the Second Amendment from December 31, 2023, subject to consummation of the Business Combination (see Note 28) on or prior to April 30, 2024, as amended pursuant to the Second Amendment from December 31, 2023, which may result in an event of default if not consummated, and a prepayment requirement to apply a portion of the net proceeds from the Business Combination to repay $8,000 (and any additional amounts borrowed pursuant to the incremental borrowing arrangement described above) under the notes;

	●	a provision for the failure to repay the $8,000 prepayment requirement in full with the proceeds of the Business Combination or failure to consummate the Business Combination by April 30, 2024, as amended pursuant to the Second Amendment from December 31, 2023, will result in an event of default under the notes; and

	●	an election to prepay the notes, at any time, at 100% of the principal amount due with no premium or penalty.

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) April 30, 2024; (b) the occurrence of the closing of the Business Combination and (c) the termination of the Business Combination prior to closing (collectively the “forbearance”) (further details are provided for under the heading Arena Loan Agreement in Note 28).

As of December 31, 2023, the effective interest rate on the 2023 Notes was 14.2%. As of December 31, 2023, the current balance outstanding under the 2023 Notes was $7,887, net of unamortized cost of $113, with the principal balance due of $8,000, subject to the forbearance.

Information for the years ended December 31, 2023 and 2022, with respect to interest expense related to the 2023 Notes is provided under the heading Interest Expense in Note 19.

2022 Bridge Notes

On December 15, 2022, the Company issued $36,000 aggregate principal amount of senior secured notes (the “2022 Bridge Notes”) pursuant to the Note Purchase Agreement. In connection with the issuance of the notes, the Company received net proceeds of $34,728 and incurred debt costs of $1,272 that were being amortized over the expected life of the debt. As of December 31, 2022, the balance outstanding under the 2022 Bridge Notes was $34,805 ($36,000 principal balance less unamortized debt costs of $1,195), that was modified during the year ended December 31, 2023 (further details are provided under the heading 2022 Bridge Notes in Note 19).

Organization and Basis of Presentation

12 Months Ended

Dec. 31, 2023

Organization and Basis of Presentation

1. Organization and Basis of Presentation

Organization

The Arena Holdings Group, Inc. (formerly known as TheMaven, Inc.) (“The Arena Group” or the “Company”), was incorporated in Delaware on October 1, 1990. On October 11, 2016, the predecessor entity now known as The Arena Group exchanged its shares with another entity that was incorporated in Delaware on July 22, 2016. On November 4, 2016, these entities consummated a recapitalization. This resulted in The Arena Group becoming the parent entity, and the other Delaware entity becoming the wholly owned subsidiary. On December 19, 2019, the Company’s wholly owned subsidiaries The Arena Platform, Inc. (formerly known as Maven Coalition, Inc.), and HubPages, Inc. (“HubPages”), which was acquired by the Company in a merger during 2018, were merged into another of the Company’s wholly owned subsidiaries, Say Media, Inc. (“Say Media”), which was acquired by the Company in a merger during 2018, with Say Media as the surviving corporation. On January 6, 2020, Say Media changed its name to The Arena Platform, Inc. (“Arena Platform”). As of December 31, 2023, the Company’s wholly owned subsidiaries consist of The Arena Platform, The Arena Media Brands, LLC (“Arena Media”) (formerly known as Maven Media Brands, LLC) formed during 2019 as a wholly owned subsidiary of The Arena Group), TheStreet, Inc. (“TheStreet” acquired by the Company in a merger during 2019), College Spun Media Incorporated (“The Spun” acquired by the Company in a merger during 2021) and Athlon Holdings, Inc. (“Parade” acquired by the Company in a merger during 2022 as further described in Note 4).

The Company changed its legal name to The Arena Group Holdings, Inc. from TheMaven, Inc. on February 8, 2022. The Company’s subsidiaries changed their corporate names to The Arena Platform, Inc. from Maven Coalition, Inc. and to The Arena Media Brands, LLC from Maven Media Brands, LLC on February 18, 2022.

Unless the context indicates otherwise, The Arena Group, The Arena Platform, TheStreet, The Spun and Parade, are together hereinafter referred to as the “Company.”

Reverse Stock Split

On February 8, 2022, the Board approved a one-for-twenty-two (1-for-22) reverse stock split of its outstanding shares of common stock that was effective February 8, 2022. The Company’s common stock began trading on the NYSE American (the “NYSE American”) on February 9, 2022 (as further described below). At the effective time, every twenty-two shares of issued and outstanding common stock were automatically combined into one issued and outstanding share of common stock, without any change in the number of authorized shares. No fractional shares were issued as a result of the reverse stock split. Any fractional shares that would otherwise have resulted from the reverse stock split were rounded up to the next whole number.

The accompanying financial statements and notes to the financial statements give effect to the reverse stock split for all periods presented. The shares of common stock retained a par value of $0.01 per share. Accordingly, stockholders’ deficiency reflects the reverse stock split by reclassifying from “common stock” to “additional paid-in capital” in an amount equal to the par value of the decreased shares resulting from the reverse stock split. In connection with the reverse stock split, proportionate adjustments were made to increase the per share exercise prices and decrease the number of shares of common stock issuable upon exercise of common stock options and warrants whereby approximately the same aggregate price is required to be paid for such securities upon exercise as had been payable immediately preceding the reverse stock split. Any fractional shares that would otherwise be issued as a result of the reverse stock split were rounded up to the nearest whole share.

On February 9, 2022, in connection with the Company’s legal name change and reverse stock split, the Company up-listed its common stock to the NYSE American, which began trading on February 9, 2022 under the symbol “AREN.” The Company’s common stock, prior to the up-list, was quoted on the OTC Markets Group Inc.’s (“OTCM”) OTCQX^® Best Market (the “OTCQX”) under the symbol “MVEN.”

Business Operations

The Company is a media company that leverages technology to build deep content verticals powered by anchor brands and a best-in-class digital media platform (the “Platform”) empowering publishers who impact, inform, educate, and entertain. The Company’s strategy is to focus on key subject matter verticals where audiences are passionate about a topic category (e.g., sports and finance) where it can leverage the strength of its core brands to grow its audience and increase monetization both within its core brands as well as for its media publisher partners (each, a “Publisher Partner”). The Company’s focus is on leveraging its Platform and brands in targeted verticals to maximize audience reach, enhance engagement, and optimize monetization of digital publishing assets for the benefit of its users, its advertiser clients, and its greater than 40 owned and operated properties as well as properties it runs on behalf of independent Publisher Partners. The Company owns and operates TheStreet, The Spun, Parade, and Men’s Journal and powers more than 320 independent Publisher Partners, including the many sports team sites that comprise FanNation.

Each Publisher Partner joins the Platform by invitation only with the objective of improving our position in key verticals while optimizing the performance of the Publisher Partner. Publisher Partners incur the costs in content creation on their respective channels and receive a share of the revenue associated with their content. Because of the state-of-the-art technology and large scale of the Platform and our expertise in search engine optimization, social media, ad monetization and subscription marketing, Publisher Partners continually benefit from our ongoing technological advances and audience development expertise. Additionally, we believe the lead brands within our verticals create a halo benefit for all Publisher Partners while each of them adds to the breadth and quality of content.

Platform

The Company developed the Platform, a proprietary online publishing platform that provides its owned and operated media businesses, Publisher Partners (who are third parties producing and publishing content on their own domains), and individual creators contributing content to its owned and operated sites (“Expert Contributors”), the ability to produce and manage editorially focused content through tools and services provided by it. The Company has also developed proprietary advertising technology, techniques and relationships that allow it, its Publisher Partners, and its Expert Contributors to monetize editorially focused online content through various display and video advertisements and tools and services for driving a subscription or membership based business and other monetization services (the “Monetization Solutions” and, together with the Platform, the “Platform Services”). The Company’s Platform offers audiences bespoke content with optimized design and page construction.

The Platform comprises state-of-the-art publishing tools, video platforms, social distribution channels, newsletter technology, machine learning content recommendations, notifications, and other technology that deliver a complete set of features to drive a digital media business in an entirely cloud-based suite of services. The Company’s software engineering and product development teams are experienced at delivering these services at scale. The Company continues to develop the Platform software by combining proprietary code with components from the open-source community, plus select commercial services as well as identifying, acquiring, and integrating other platform technologies where it sees unique long-term benefits to it.

Seasonality

The Company does experience seasonality during the year, as a result of advertising seasonality and sports seasons and major sporting events. Advertising typically peaks in the fourth quarter of the Company’s fiscal year as advertisers concentrate their budgets during the holiday season. This trend is magnified as it also includes the professional sports and college football seasons, which account for a significant portion of the Company’s advertising revenue during that period of the year. Other sporting events such as the Super Bowl, Winter and Summer Olympics, soccer’s World Cup, and major golf, tennis and cycling events create increased traffic surrounding the respective events.

Going Concern

The Company performed an annual reporting period going concern assessment. Management is required to assess the Company’s ability to continue as a going concern. These 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 consolidated financial statements do not include any adjustments that might be necessary if it is unable to continue as a going concern.

Most recently, for the year ended December 31, 2023, the Company incurred a net loss from continuing operations of $55,582, had cash on hand of $9,284 and a working capital deficit of $145,622. The Company’s net loss from continuing operations and working capital deficit have been evaluated by management to determine if the significance of those conditions or events would limit its ability to meet its obligations when due. Also, since the Company’s 2023 Notes (see Note 18), Senior Secured Notes, Delayed Draw Term Notes and 2022 Bridge Notes (see Note 19) (collectively “its current debt”) are subject to a forbearance period through the earlier of the following: (a) April 30, 2024; (b) the occurrence of the closing of the Business Combination and (c) the termination of the Business Combination prior to closing (as further described in Note 28) unless the Company is able to refinance or modify the terms of its current debt it runs the risk that its debt could be called, therefore, it may not be able to meet its obligations when due.

Summary of Significant Accounting Policies

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Summary of Significant Accounting Policies

1. Summary of Significant Accounting Policies

Basis of Presentation

The Company operates in one reportable segment.

Going Concern

Use of Estimates

Recently Adopted Accounting Standards

Loss per Common Share

	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

2. Summary of Significant Accounting Policies

Principles of Consolidation

Use of Estimates

Risks and Uncertainties

Segment Reporting

Revenue Recognition

The following is a description of the principal activities from which the Company generates revenue:

Advertising Revenue

Subscription Revenue

Print Revenue

Print revenue includes magazine subscriptions and single copy sales at newsstands.

Print Subscriptions – Revenue from magazine subscriptions is deferred and recognized proportionately as products are distributed to subscribers.

Licensing and Syndication Revenue

Nature of Performance Obligations

Timing of Satisfaction of Performance Obligations

Transaction Price and Amounts Allocated to Performance Obligations

There is no variable consideration related to functional licenses.

Contract Modifications

The Company occasionally enters into amendments to previously executed contracts that constitute contract modifications. The Company assesses each of these contract modifications to determine:

	●	if the additional services and goods are distinct from the services and goods in the original arrangement; and

	●	if the amount of consideration expected for the added services or goods reflects the stand-alone selling price of those services and goods.

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

	2023		2022
	Years Ended December 31,
	2023		2022
Revenue by category:
Digital revenue
Digital advertising	$	135,376	$	109,317
Digital subscriptions		12,764		21,156
Licensing and syndication revenue		18,482		18,173
Other digital revenue		5,384		1,166
Total digital revenue		172,006		149,812
Print revenue
Print advertising		9,881		10,214
Print subscriptions		62,316		60,909
Total print revenue		72,197		71,123
Total revenue	$	244,203	$	220,935
Revenue by geographical market:
United States	$	234,012	$	218,110
Other		10,191		2,825
Total revenue	$	244,203	$	220,935
Revenue by timing of recognition:
At point in time	$	231,439	$	199,779
Over time		12,764		21,156
Total revenue	$	244,203	$	220,935

Cost of Revenue

Contract Balances

The following table provides information about contract balances:

	2023		2022
	As of December 31,
	2023		2022
Unearned revenue (short-term contract liabilities):
Digital revenue	$	14,397	$	18,571
Print revenue		45,389		40,132
	$	59,786	$	58,703
Unearned revenue (long-term contract liabilities):
Digital revenue	$	542	$	1,118
Print revenue		10,137		18,583
	$	10,679	$	19,701

Cash, Cash Equivalents, and Restricted Cash

The following table reconciles total cash, cash equivalents, and restricted cash:

Schedule of Cash and Restricted Cash

	2023		2022
	As of December 31,
	2023		2022
Cash and cash equivalents	$	9,284	$	13,871
Restricted cash		-		502
Total cash, cash equivalents, and restricted cash	$	9,284	$	14,373

As of December 31, 2023 and 2022, the Company had restricted cash of $0 and $502, which served as collateral for certain credit card merchant accounts with a bank.

Accounts Receivable and Allowance for Doubtful Accounts

The following table summarizes the allowance for doubtful accounts activity:

	2023			2022
	Years Ended of December 31,
	2023			2022
Allowance for doubtful accounts beginning of year	$	2,236		$	1,578
Additions		315			658
Deductions - write-offs		(1,570	)		-
Allowance for doubtful accounts end of year	$	981		$	2,236

Subscription Acquisition Costs

The Contract Modifications resulted in subscription acquisition costs to be recognized on a prospective basis in the same proportion as the revenue that has not yet been recognized.

Concentrations

Significant accounts payable balances as a percentage of the Company’s total accounts payable represent 12.2%, and 14.1% from a vendor for the years ended December 31, 2023, and 2022, respectively.

Leases

Property and Equipment

Office equipment and computers	1 – 3 years
Furniture and fixtures	1 – 5 years

Platform Development

Business Combinations

Intangible Assets

Long-Lived Assets

Goodwill

Debt Costs

Liquidated Damages

Selling and Marketing

General and Administrative

Derivative Financial Instruments

At the date of settlement of a freestanding equity contract, the pro rata fair value of the related liability is transferred to additional paid-in capital.

Fair Value of Financial Instruments

Preferred Stock

Stock-Based Compensation

Income Taxes

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 restrictions expire, the shares are no longer forfeitable, and are thus vested. Restricted stock units are included in the computation of basic loss per common share only when the 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.

	As of December 31,
	2023		2022
Series G Preferred Stock		8,582		8,582
Series H Preferred Stock		-		1,981,128
Financing Warrants		-		107,956
ABG Warrants		999,540		999,540
AllHipHop Warrants		5,682		5,682
Publisher Partner Warrants		9,800		4,154
Restricted stock awards		-		97,403
Restricted stock units		199,267		994,766
Common stock options		5,451,968		6,199,521
Total		6,674,839		10,398,732

Recent Accounting Pronouncements

Recently Adopted Accounting Standards

Recently Issued Accounting Standards

Summary of Significant Accounting Policies

Note 1 – Nature of Business and Significant Accounting Policies

Bridge Media Networks, LLC (“Bridge Media or the Company”), a wholly owned subsidiary of its parent company Simplify Inventions, LLC (“Simplify”), established in August 2022, is an innovative national media group that offers a wide range of platforms for delivering the latest news, sports, automotive, and travel content nationwide across the United States. Bridge Media’s core brands include NEWSnet which provides 24 hours of news and weather content, Sports News Highlights (SNHtv.com) which provides 24 hours of sports news and highlights and TravelHost, which is a travel and lifestyle magazine and media outlet. Through these platforms, the Company markets and advertises 5-Hour ENERGY® products and other products and services sold by related party and third-party customers.

On November 5, 2023, Simplify and Bridge Media entered into a Business Combination Agreement with The Arena Group Holdings, Inc. (“The Arena Group”) to acquire common shares that would equal approximately 65% ownership of The Arena Group. As part of the consideration of the transaction, Bridge Media will be contributed to The Arena Group. Simplify and The Arena Group are currently working through certain conditions under the Business Combination Agreement to finalize the proposed transaction.

Basis of Presentation

Summary of Significant Accounting Policies

Bridge Media Networks, LLC

Notes to Unaudited Financial Statements

Bridge Media Networks, LLC

Notes to Unaudited Financial Statements

Bridge Media Networks, LLC

Notes to Unaudited Financial Statements

● Level 1 inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.

Note 1 – Nature of Business and Significant Accounting Policies

Bridge Media Networks, LLC (“Bridge Media or the Company”), a wholly owned subsidiary of its parent company Simplify Inventions, LLC (“Simplify”), is an innovative national media group that offers a wide range of platforms for delivering the latest news, sports, automotive, and travel content nationwide across the United States. Bridge Media’s core brands include NEWSnet which provides 24 hours of news and weather content, Sports News Highlights (SNHtv.com) which provides 24 hours of sports news and highlights and TravelHost, which is a travel and lifestyle magazine and media outlet. Through these platforms, the Company markets and advertises 5-Hour ENERGY® products and other products and services sold by related party and third-party customers.

Bridge Media was established on August 18, 2022 with the acquisition of TravelHost. Bridge News LLC (“Bridge News”), a related party, began its operations in January 2022 when it acquired NEWSnet, a single local TV station in Cadillac, Michigan. During 2022, Bridge News focused on TV station operations. On December 31, 2022, Bridge News contributed certain assets to Bridge Media. In 2023, Bridge Media used the assets to expand operations and build out content for NEWSnet and Sport News Highlights network offerings.

Basis of Presentation

Summary of Significant Accounting Policies

Accounts Receivable - Accounts receivable are stated at net invoice amounts and presented net of an allowance for credit losses. The allowance for credit losses is based on management’s evaluation of the receivables under current conditions, the aging of the receivables, review of specific collection issues and such other factors, which in management’s judgment, deserve recognition in estimating losses. The allowance for credit losses on the total accounts receivable balances was approximately $136 thousand and $25 thousand as of December 31, 2023 and 2022, respectively.

Bridge Media Networks, LLC

Notes to Financial Statements

December 31, 2023 and 2022

Goodwill - Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets of businesses acquired in a business combination. Goodwill is not amortized but rather is tested for impairment at least annually on December 31, or more frequently if events or changes in circumstances indicate that the carrying amount of goodwill may not be recoverable. The Company has one reporting unit, therefore, the impairment test is performed at the entity level. ASC 350, Intangibles - Goodwill and Other, permits an entity to assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than it carrying amount before applying the goodwill impairment model. If it is determined through the qualitative assessment that a reporting unit’s fair value is more likely than not greater than its carrying value, the remaining impairment steps would be unnecessary.

Bridge Media Networks, LLC

Notes to Financial Statements

December 31, 2023 and 2022

The primary sources of revenue are from advertising aired on its networks and licensing, services and advertising related to its magazine. For advertising aired on its networks, revenue is recognized, net of agency commissions, in the period in which advertisements are aired or delivered and payment occurs thereafter, with payment generally required within 30 to 60 days. Revenues from licenses and services are recognized when the Company publishes and prints its magazines for its licensees and service customers. Advertising related revenues for print advertisements are recognized when advertisements are published. There is no variable consideration related to advertising, licensing, or service revenue. Payment terms for the licensee’s and advertisers are generally 30 days. The Company recorded $5.4 million in revenue for network advertising and $1.4 million for licensing, services and advertising related to its magazine in 2023. The Company recorded $341 thousand for licensing, services and advertising related to its magazine and did not record any revenue for network advertising in 2022. Sales to one of its major customers aggregated to approximately 66% of total net sales for 2023. There were no significant sales to the specific customer in 2022.

Bridge Media Networks, LLC

Notes to Financial Statements

December 31, 2023 and 2022

At contract inception, the Company assesses the obligations promised in its contracts with customers and identifies a performance obligation for each promise to transfer a good or service or bundle that is distinct. To identify the performance obligations, the Company considers all the promises in the contract, whether explicitly stated or implied based on customary business practices. The Company’s performance obligations related to advertising are satisfied at a point in time when an advertisement appears on its network or is published in its magazine. The Company determines that the customer can direct the use of and obtain substantially all the benefits from the advertising on the publication date. The Company’s performance obligations related to licensing and service are satisfied at a point in time when an advertisement appears on its network or is published printed and published in its magazine. The Company determines that the customer can direct the use of and obtain substantially all benefits from licensing and services on the publication date.

Advertising and Promotional Expenses - Advertising and promotional expenses are charged against income during the period when the advertising or promotion takes place. Advertising and promotional expenses were approximately $598 thousand and $2 thousand for the years ended December 31, 2023 and 2022, respectively.

● Level 1 inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

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 termination fee liability.

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

The table below sets forth the loss from discontinued operations for the period from April 1, 2022 to December 31, 2022:

Schedule of Discontinued Operations


Revenue	$	26,817
Cost of revenue		23,015
Gross profit		3,802
Operating expense
Selling and marketing		5,396
General and administrative		1,722
Loss on impairment of assets		209
Total operating expenses		7,327
Loss from discontinued operations		(3,525	)
Income tax benefit		55
Net loss from discontinued operations	$	(3,470	)

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483475/205-20-45-11

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-3A

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-4A

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-4B

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5A

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5B

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5C

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5D

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 20
-Topic 205
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-1

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-3

Goodwill (Details Narrative) - USD ($)	12 Months Ended
Goodwill (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Impairment Loss

Income Taxes (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
Income Taxes (Details Narrative) - USD ($)	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation [Line Items]
Net operating losses expiration amount			$ 55,558,000
Effective Income Tax Rate Reconciliation, Percent	0.32%	0.04%	(0.40%)	1.60%
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued		$ 0
Domestic Tax Jurisdiction [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Operating Loss Carryforwards			$ 193,801,000	$ 190,070,000
State [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Operating Loss Carryforwards			145,968,000	133,419,000
Local [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Operating Loss Carryforwards			53,002,000	$ 51,503,000
U.S Federal Tax [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Operating Loss Carryforwards			$ 138,243,000

Preferred Stock

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Equity [Abstract]

Preferred Stock

13. Preferred Stock

The Company has the authority to issue 1,000,000 shares of preferred stock, $0.01 par value per share, consisting of authorized and/or outstanding shares as of March 31, 2024 as follows:

	●	1,800 authorized shares designated as “Series G Convertible Preferred Stock”, of which 168 shares are outstanding.

	●	23,000 authorized shares designated as “Series H Convertible Preferred Stock” (as further described below), of which no shares are outstanding.

20. Preferred Stock

The Company has the authority to issue 1,000,000 shares of Preferred Stock, $0.01 par value per share, consisting of authorized and/or outstanding shares as of December 31, 2023 as follows:

	●	1,800 authorized shares designated as “Series G Convertible Preferred Stock” (as further described below), of which 168 shares are outstanding as of December 31, 2023 and 2022.

	●	23,000 authorized shares designated as “Series H Convertible Preferred Stock” (as further described below), of which none and 14,356 shares were outstanding as of December 31, 2023 and 2022, respectively.

Series G Preferred Stock

On May 30, 2000, the Company sold 1,800 shares of its Series G convertible Preferred Stock (the “Series G Preferred Stock”), of which 1,631.504 were converted prior to November 2001 and 168.496 shares continue to be outstanding, at a stated value of $1,000 per share, convertible into shares of the Company’s common stock, as adjusted for the stock split on February 8, 2022, and will be further adjusted in the event of another stock splits, stock dividends, combinations of shares and similar transactions subject to stock splits. The Series G Preferred Stock is convertible into shares of common stock, at the option of the holder, subject to certain limitations. The Company may require holders to convert all (but not less than all) of the Series G Preferred Stock or buy out all outstanding shares of Series G Preferred Stock at the liquidation value of $168. Holders of Series G Preferred Stock are not entitled to dividends and have no voting rights, unless required by law or with respect to certain matters relating to the Series G Preferred Stock.

Upon a change in control, sale of or similar transaction, as defined in the Certificate of Designation for the Series G Preferred Stock, the holder of the Series G Preferred Stock has the option to deem such transaction as a liquidation and may redeem their 168.496 shares at the liquidation value of $1,000 per share, or an aggregate amount of $168. The sale of all the assets of the Company on June 28, 2007 triggered the redemption option. As such redemption was not in the control of the Company, the Series G Preferred Stock has been accounted for as if it is redeemable preferred stock and is classified on the consolidated balance sheets as a mezzanine obligation between liabilities and stockholders’ deficiency. The holder of the Series G Preferred Stock still has the ability to exercise the redemption option.

Series H Preferred Stock

All of the then outstanding shares of Series H convertible Preferred Stock (the “Series H Preferred Stock”) automatically converted into shares of the Company’s common stock on the fifth anniversary date of the initial first closing of the Series H Preferred Stock, or on August 10, 2023, at the conversion price of $7.26 per share (the “automatic mandatory conversion”). Further details are provided under the heading Common Stock in Note 21.

Leases (Details Narrative) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
Leases (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Oct. 31, 2023	Oct. 31, 2022	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Lessee, Operating Lease, Term of Contract		6 months		9 months
Sublease Income		$ 125	$ 55	$ 292	$ 218
Lessee, Operating Lease, Liability, to be Paid		249		373		$ 4,000	$ 1,000	$ 1,000
Marketing and Advertising Expense				615
Marketing and advertising expense remaining				860
Lease termination liability.		4,518		4,481	4,753
Right of use asset		120		176	372
Short term lease liability		$ 242		358	427
Long term lease liability					$ 358
Weighted-average remaining lease term		6 months	1 year 6 months 3 days	9 months	1 year 9 months
Bridge Media Networks L L C [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Advertising Expense		$ 82	$ 9	$ 598	$ 2
Lessee, Operating Lease, Liability, to be Paid		928		935
Marketing and Advertising Expense		82	9	598	2
Right of use asset		751		751	101
Short term lease liability		190		163	16
Long term lease liability		$ 568		$ 589	$ 85
Weighted-average remaining lease term		4 years 109 days 12 hours		4 years 255 days 12 hours	2 years
Building [Member] \| Bridge Media Networks L L C [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Short term lease liability		$ 190		$ 163	$ 16
Long term lease liability		568		589	85
Building [Member] \| Three Lessors [Member] \| Bridge Media Networks L L C [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Right of use asset		751		752	$ 101
October One Two Thousand And Twenty Four [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Advertising Expense		676
Lessee, Operating Lease, Liability, to be Paid		$ 4,000		$ 4,000
Imputed interest rate		10.00%		10.00%
Sublease Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Sublease Income		$ 423	$ 265	$ 537
Lease Arrangement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from Lease Payment, Operating Activity	$ 10,000
Advertising Expense	$ 1,475

Property and Equipment (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Schedule of Property and Equipment

Property and Equipment – Property and equipment are summarized as follows:

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

Property and equipment are summarized as follows:

Schedule of Property and Equipment

	2023			2022
	As of December 31,
	2023			2022
Office equipment and computers	$	1,744		$	1,744
Furniture and fixtures		166			240
Gross property and equipment		1,910			1,984
Less accumulated depreciation and amortization		(1,582	)		(1,249	)
Net property and equipment	$	328		$	735

Schedule of Property and Equipment

Property and equipment consist of the following:


($ in thousands)	March 31, 2024			December 31, 2023			Depreciable Life - Years

Land	$	26		$	26			-
Buildings and building improvements		861			861			7-38
Machinery and equipment		379			324			1-6
Transportation equipment		232			232			4
Office equipment and software		5,919			5,617			1-6
Construction in progress		3,457			3,080			-
Total cost		10,874			10,140
Accumulated depreciation		(1,308	)		(1,012	)
Property and equipment, net	$	9,566		$	9,128

Property and equipment consist of the following as of December 31:


($ in thousands)	2023			2022			Depreciable Life - Years

Land	$	26		$	26			-
Buildings and building improvements		861			797			7-38
Machinery and equipment		324			331			1-6
Transportation equipment		232			306			4
Office equipment and software		5,617			1,428			1-6
Station equipment		-			390			5
Construction in progress		3,080			738			-
Total cost		10,140			4,016
Accumulated depreciation		(1,012	)		(300	)
Property and equipment, net	$	9,128		$	3,716

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Schedule of Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Sep. 27, 2022
Finite-Lived Intangible Assets [Line Items]
Intangible assets, weighted average useful life				10 years
Intangible assets, gross	$ 52,793	$ 126,681	$ 126,341
Intangible assets, accumulated amortization	(27,454)	(88,222)	(67,371)
Intangible assets, net	25,339	38,459	58,970
Restatement [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross		54,115
Intangible assets, accumulated amortization		(26,658)
Intangible assets, net		$ 27,457
Developed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, weighted average useful life		4 years 8 months 12 days
Intangible assets, gross	17,333	$ 17,333	17,333
Intangible assets, accumulated amortization	(17,333)	(17,333)	(14,883)
Intangible assets, net			2,450
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, weighted average useful life		16 years 1 month 6 days
Intangible assets, gross	5,181	$ 5,181	5,380
Intangible assets, accumulated amortization	(1,610)	(1,547)	(1,180)
Intangible assets, net	3,571	$ 3,634	4,200
Brand Names [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, weighted average useful life		9 years 8 months 12 days
Intangible assets, gross	12,115	$ 12,774	12,115
Intangible assets, accumulated amortization	(2,671)	(2,374)	(908)
Intangible assets, net	9,444	$ 10,400	11,207
Subscribers Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, weighted average useful life		5 years 1 month 6 days
Intangible assets, gross		$ 73,459	73,459
Intangible assets, accumulated amortization		(61,654)	(47,146)
Intangible assets, net		$ 11,805	26,313
Advertiser Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, weighted average useful life		10 years 2 months 12 days
Intangible assets, gross	14,519	$ 15,182	15,302
Intangible assets, accumulated amortization	(3,158)	(2,832)	(1,368)
Intangible assets, net	11,361	$ 12,350	13,934
Database Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, weighted average useful life		3 years
Intangible assets, gross	1,140	$ 2,397	2,397
Intangible assets, accumulated amortization	(1,140)	(2,171)	(1,753)
Intangible assets, net		226	644
Database Rights [Member] \| Restatement [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross		1,140
Intangible assets, accumulated amortization		(1,140)
Intangible assets, net
Digital Content [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, weighted average useful life		2 years
Intangible assets, gross	355	$ 355	355
Intangible assets, accumulated amortization	(355)	(311)	(133)
Intangible assets, net		44	$ 222
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

Debt (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

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% as of March 31, 2024, as amended	$	62,691	$	(249	)	$	62,442	$	62,691	$	(272	)	$	62,419
Delayed Draw Term Notes, effective interest rate of 10.2% as of March 31, 2024, as amended		4,000		(28	)		3,972		4,000		(31	)		3,969
2022 Bridge Notes, effective interest rate of 10.2% as of March 31, 2024, as amended		36,000		(72	)		35,928		36,000		(79	)		35,921
Total	$	102,691	$	(349	)	$	102,342	$	102,691	$	(382	)	$	102,309

The following table summarizes the debt:

Schedule of Long Term Debt

	As of December 31, 2023							As of December 31, 2022
	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 December 31, 2023, as amended, matures December 31, 2026, subject to acceleration	$	62,691	$	(272	)	$	62,419	$	62,691	$	(904	)	$	61,787
Senior Secured Notes, effective interest rate of 10.1% as of December 31, 2023, as amended	$	62,691	$	(272	)	$	62,419	$	62,691	$	(904	)	$	61,787
Delayed Draw Term Notes, effective interest rate of 10.2% as of December 31, 2023, as amended		4,000		(31	)		3,969		4,000		(103	)		3,897
2022 Bridge Notes, effective interest rate of 10.2% as of December 31, 2023, as amended		36,000		(79	)		35,921		-		-			-
Total	$	102,691	$	(382	)	$	102,309	$	66,691	$	(1,007	)	$	65,684

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

The following table represents interest expense:

Summary of Interest Expense

	2023			2022
	Years Ended December 31,
	2023			2022
Amortization of debt costs:
Line of credit	$	214		$	9
2023 Notes		244			-
Senior Secured Notes		632			1,031
Delayed Draw Term Notes		72			464
2022 Bridge Notes		1,216			77
Total amortization of debt costs		2,378			1,581
Noncash and accrued interest:
2023 Notes		173			-
Senior Secured Notes		1,602			-
Delayed Draw Term Notes		102			-
2022 Bridge Notes		920			-
Line of credit termination fee		900			-
Parade		-			116
Other accrued interest		127			204
Total noncash and accrued interest		3,824			320
Cash paid interest:
Line of credit		2,023			1,328
2023 Notes		44			-
Senior Secured Notes		4,754			6,356
Delayed Draw Term Notes		303			980
2022 Bridge Notes		3,763			-
Other		1,214			863
Total cash paid interest		12,101			9,527
Less interest income ⁽¹⁾		(338	)		-
Total interest expense	$	17,965		$	11,428

(1)

During the year ended December 31, 2023, the Company recorded interest income of $338 related to the refunds received from the employee retention credits.

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

Schedule of Fair Value of Financial Instruments

Summary of Platform Development Costs (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Platform development	$ 52,793	$ 126,681	$ 126,341
Less accumulated amortization	27,454	88,222	67,371
Net platform development	25,339	38,459	58,970
Platform Development [Member]
Property, Plant and Equipment [Line Items]
Platform development	26,975	26,054	21,493
Less accumulated amortization	(18,880)	(17,331)	(11,163)
Net platform development	$ 8,095	$ 8,723	$ 10,330

Cover	3 Months Ended
Cover	Mar. 31, 2024
Entity Addresses [Line Items]
Document Type	S-4/A
Amendment Flag	true
Amendment Description	Amendment No. 1
Entity Registrant Name	New Arena Holdco, Inc.
Entity Central Index Key	0001995416
Entity Tax Identification Number	93-4199130
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
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Business Contact [Member]
Entity Addresses [Line Items]
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
Contact Personnel Name	Sara Silverstein

Fair Value (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Liabilities measured at fair value on a recurring basis consisted of the following as of December 31, 2023:

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

Financial instruments measured at fair value during the year consisted of the following:

	As of December 31, 2023
	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	$	-

	As of December 31, 2022
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Senior Secured Notes	$	61,787	$	-	$	61,787	$	-

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:

	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 – Unearned revenue, also referred to as contract liabilities, include payments received in advance of performance under certain contracts and are recognized as revenue over time. The Company records contract liabilities as unearned revenue on the condensed consolidated balance sheets.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

Organization and Basis of Presentation (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Feb. 08, 2022	Dec. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stockholders' Equity, Reverse Stock Split	one-for-twenty-two (1-for-22) reverse stock split
Common Stock, Par or Stated Value Per Share		$ 0.01	$ 0.01		$ 0.01
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest		$ 55,582
Cash and Cash Equivalents, at Carrying Value		9,284	$ 4,003	$ 15,961	$ 13,871
Working capital deficit		$ 145,622	$ 225,009

Amount after tax of income (loss) from continuing operations including portion attributable to the noncontrolling interest.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-19

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 7: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Acquisitions (Details Narrative) - USD ($)										3 Months Ended			12 Months Ended
Acquisitions (Details Narrative) - USD ($)	Feb. 15, 2024	Nov. 17, 2023	May 01, 2023	Jan. 11, 2023	Dec. 15, 2022	Dec. 07, 2022	Sep. 27, 2022	Aug. 31, 2022	Apr. 01, 2022	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Mar. 13, 2024	Nov. 30, 2022	Dec. 31, 2021
Asset Acquisition [Line Items]
Stock Issued During Period, Value, New Issues										$ 12,000,000				$ 30,490,000
Asset Acquisition, Consideration Transferred, Transaction Cost					$ 283,000
Goodwill										42,575,000			$ 42,575,000	39,344,000			$ 19,619,000
Working capital															$ 25,000,000
Accounts Receivable, after Allowance for Credit Loss, Current										26,452,000			31,676,000	33,950,000
Accounts Payable, Current										8,797,000			7,803,000	$ 12,863,000
Cash Acquired from Acquisition					25,000,000	$ 23,000,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Nature of Adjustments														The adjustments for the year ended December 31, 2022 of ($1,940), represents adjustments: (1) to record depreciation and amortization expense related to the fixed and intangible assets acquired from the acquisition of ($864); (2) to reverse the nonrecurring transaction cost related to the acquisition of $200; and (3) to reverse the deferred tax benefit related to the acquisition of ($1,276).
Finite-Lived Intangible Asset, Useful Life							10 years
Escrow Deposit					$ 1,000,000											$ 1,000,000
Business combination recognized identifiable assets acquired and liabilities assumed assumed lease obligation																2,676,000
Deferred Revenue																3,189,000
Deferred revenue obligation																4,078
Unearned Premiums																3,941,000
Customer Refund Liability, Current																$ 137,000
Business Acquisition, Goodwill, Expected Tax Deductible Amount													12,299,000
Common Stock [Member]
Asset Acquisition [Line Items]
Stock Issued During Period, Value, New Issues										56,000				$ 42,000
Disposition 2023 [Member]
Asset Acquisition [Line Items]
Proceeds from Sale of Other Assets, Investing Activities		$ 1,061,000
Sale price		1,000,000
Working capital		272,000
Preliminary working capital		61,000
Working capital adjustments		153,000
Final sale price		908,000
Proceeds from Divestiture of Businesses		$ 172,000											639,000
Accounts Receivable, after Allowance for Credit Loss, Current													453,000
Accounts Payable, Current													31,000
Gain (Loss) on Disposition of Assets													325,000
Fexy Studios [Member]
Asset Acquisition [Line Items]
Purchase price	$ 2,478,000
Goodwill acquired during period													1,985,000
Athlon Holdings Inc [Member]
Asset Acquisition [Line Items]
Goodwill									$ 2,587,000
Business Acquisition, Percentage of Voting Interests Acquired									100.00%
Purchase price									$ 15,854,000
Cash Acquired from Acquisition									1,840,000
Payments to Acquire Businesses and Interest in Affiliates									12,827,000
Payments to acquire businesses at closing									11,840,000
Other Payments to Acquire Businesses									$ 987,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares									314,103,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable									$ 3,141,000
Business Acquisition, Description of Acquired Entity									The amount estimated to be paid post-closing of $987 will be or was paid as follows: (i) $742 is expected to be paid upon receipts of certain tax refunds due to the sellers (consisting of $3,000 for the deferred cash payments, as discounted, less a $2,258 cash adjustment); and (ii) $245 was paid within two business days from the date the Company received proceeds from the sale of the equity interest in Just Like Falling Off a Bike, LLC that was held by Parade as of the closing date (paid on April 7, 2022).
Business Combination, Contingent Consideration Arrangements, Description												The Company received a final valuation report from a third party valuation firm after the preliminary purchase price was adjusted during the quarterly period ended September 30, 2022. After considering the results of the final valuation report, the Company estimated that the purchase consideration decreased by $321. The decrease in the purchase price was related to an increase in identifiable assets of $54, an increase in deferred tax liabilities of $27, with a decrease in the working capital adjustment of $321, resulting in a decrease in goodwill of $348.
Business Acquisition, Transaction Costs									$ 200,000
Business combination recognized identifiable assets acquired and liabilities assumed assumed lease obligation													2,676,000
Athlon Holdings Inc [Member] \| Common Stock [Member]
Asset Acquisition [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned									$ 3,000,000
Mens Journal [Member]
Asset Acquisition [Line Items]
Goodwill acquired during period													1,246,000	$ 17,138,000
A360 Media LLC [Member] \| Advertiser Relationship [Member]
Asset Acquisition [Line Items]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life														12 years 6 months
A360 Media LLC [Member] \| Brand Name [Member]
Asset Acquisition [Line Items]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life														11 years
Bridge Media Networks L L C [Member]
Asset Acquisition [Line Items]
Payments to Employees										2,400,000	$ 1,100,000		6,900,000
Goodwill								$ 697,000		697,000	697,000		697,000	$ 697,000
Accounts Payable, Current										388,000			194,000	398,000
Purchase price								1,000,000
Goodwill acquired during period														$ 697,000
Fair value of acquired asset								$ 303,000
Royalty rate								2.50%
Business acquisition, discount rate								12.50%
Lease liability								$ 33,000
Right of use asset								$ 33,000
Advertiser Relationships [Member]
Asset Acquisition [Line Items]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life										15 years			15 years
Advertiser Relationships [Member] \| Athlon Holdings Inc [Member]
Asset Acquisition [Line Items]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life									8 years 9 months
Brand Names [Member]
Asset Acquisition [Line Items]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life										12 years			12 years
Digital Content [Member] \| Athlon Holdings Inc [Member]
Asset Acquisition [Line Items]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life									2 years
Trade Names [Member] \| Athlon Holdings Inc [Member]
Asset Acquisition [Line Items]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life									14 years 6 months
Teneology Inc [Member] \| Fexy Studios [Member]
Asset Acquisition [Line Items]
Goodwill										$ 1,678,000			$ 1,678,000
Teneology Inc [Member] \| Fexy Studios [Member]
Asset Acquisition [Line Items]
Asset Acquisition, Consideration Transferred				$ 3,307,000
Payments to Acquire Productive Assets				500,000
Payments for Advance to Affiliate				250,000
Deferred cash payments			$ 25,000	75,000
Deferred cash payments due				$ 200,000
Stock Issued During Period, Shares, Purchase of Assets				274,692
Stock Issued During Period, Value, Purchase of Assets				$ 2,000,000
Stock Issued During Period, Value, New Issues				$ 2,225,000
Shares Issued, Price Per Share				$ 7.94
Payments to Employees				$ 300,000
Asset Acquisition, Consideration Transferred, Transaction Cost				$ 99,000
Buffalo Groupe LLC [Member] \| Intellectual Properties [Member]
Asset Acquisition [Line Items]
Payments to Acquire Productive Assets							$ 850,000

Goodwill

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

6. Goodwill

The changes in carrying value of goodwill are as follows:

	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

11. Goodwill

The changes in carrying value of goodwill are as follows:

Schedule of Carrying Value of Goodwill

	2023		2022
	As of December 31,
	2023		2022
Carrying value at beginning of year	$	39,344	$	19,619
Goodwill acquired in acquisition of Parade		-		2,587
Goodwill acquired in acquisition of Men’s Journal		1,246		17,138
Goodwill acquired in acquisition of Fexy Studios		1,985		-
Loss on impairment		-		-
Carrying value at end of year	$	42,575	$	39,344

The Company performs its annual impairment test at the reporting unit level, which is the operating segment or one level below the operating segment. Management determined that the Company would be aggregated into a single reporting unit for purposes of performing the impairment test for goodwill.

The Company, as part of its annual impairment evaluation of goodwill of its one reporting unit, performs the goodwill impairment test in accordance with applicable guidance. The guidance provides an entity the option to first perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If an entity determines that this is the case, it is required to perform the goodwill impairment test to identify potential goodwill impairment and measure the amount of goodwill impairment loss to be recognized for that reporting unit, if any. If an entity determines that the fair value of a reporting unit is greater than its carrying amount, the goodwill impairment test is not required. The annual impairment test was performed on December 31, 2023. No goodwill impairment was identified during the years ended December 31, 2023 and 2022, respectively.

Note 3 – Goodwill

The changes in carrying value of goodwill are as follows:


($ in thousands)	2024		2023
Carrying value at the beginning of the year	$	697	$	697
Goodwill acquired in acquisition		-		-
Carrying value at the end of the year	$	697	$	697

Note 4 – Goodwill

The changes in carrying value of goodwill are as follows:


($ in thousands)	2023		2022
Carrying value at the beginning of the year	$	697	$	-
Goodwill acquired in acquisition		-		697
Carrying value at the end of the year	$	697	$	697

The Company, as part of its annual impairment evaluation of goodwill of its one reporting unit, performs the goodwill impairment test in accordance with applicable guidance. ASC 350, Intangibles - Goodwill and Other, permits an entity to assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than it carrying amount before applying the goodwill impairment model. If it is determined through the qualitative assessment that a reporting unit’s fair value is more likely than not greater than its carrying value, the remaining impairment steps would be unnecessary. The annual impairment test was performed on December 31, 2023. No impairment of goodwill has been identified during the years ended December 31, 2023 and 2022.

Bridge Media Networks, LLC

Notes to Financial Statements

December 31, 2023 and 2022

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Schedule of Operating Lease Costs (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Dec. 31, 2023

Dec. 31, 2022

Operating lease cost

$ 134

^[1]

$ 295

^[1]

$ 1,344

^[2]

$ 1,187

^[2]

Sublease income

(125)

(55)

(292)

(218)

Total lease cost

^[3]

240

^[3]

1,052

^[4]

969

^[4]

General and Administrative Expense [Member]

Operating lease cost

Variable lease cost

Total lease cost

Operating lease cost

$ 134

$ 295

$ 1,344

$ 1,187

[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 $
[2]	Includes certain costs associated with a business membership agreement (see below) that permits access to certain office space for the years ended December 31, 2023 and 2022 of $
[3]	Operating lease costs is presented net of sublease income that is not material.
[4]	Operating lease costs is presented net of sublease income that is not material.

Goodwill (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Schedule of Carrying Value of Goodwill

The changes in carrying value of goodwill are as follows:

	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

The changes in carrying value of goodwill are as follows:

Schedule of Carrying Value of Goodwill

	2023		2022
	As of December 31,
	2023		2022
Carrying value at beginning of year	$	39,344	$	19,619
Goodwill acquired in acquisition of Parade		-		2,587
Goodwill acquired in acquisition of Men’s Journal		1,246		17,138
Goodwill acquired in acquisition of Fexy Studios		1,985		-
Loss on impairment		-		-
Carrying value at end of year	$	42,575	$	39,344

Schedule of Carrying Value of Goodwill

The changes in carrying value of goodwill are as follows:


($ in thousands)	2024		2023
Carrying value at the beginning of the year	$	697	$	697
Goodwill acquired in acquisition		-		-
Carrying value at the end of the year	$	697	$	697

The changes in carrying value of goodwill are as follows:


($ in thousands)	2023		2022
Carrying value at the beginning of the year	$	697	$	-
Goodwill acquired in acquisition		-		697
Carrying value at the end of the year	$	697	$	697

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

Other Long-term Liabilities

Schedule of Exercise Prices of Common Stock Options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
2022 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Shares, Outstanding	5,451,968	6,199,521
Number of Shares, Vested	4,049,393
Number of Shares, Exercisable	4,049,393
2022 Plan [Member] \| Exercise Price Range One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 2.48
Share-Based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 10.50
Number of Shares, Outstanding	4,318,901
Number of Shares, Vested	3,308,790
2022 Plan [Member] \| Exercise Price Range Two [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 10.51
Share-Based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 15.52
Number of Shares, Outstanding	1,062,379
Number of Shares, Vested	670,956
2022 Plan [Member] \| Exercise Price Range Three [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 15.53
Share-Based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 20.54
Number of Shares, Outstanding	9,091
Number of Shares, Vested	9,091
2022 Plan [Member] \| Exercise Price Range Four [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 20.55
Share-Based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 25.56
Number of Shares, Outstanding	25,683
Number of Shares, Vested	24,642
2022 Plan [Member] \| Exercise Price Range Five [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 25.57
Share-Based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 30.58
Number of Shares, Outstanding	910
Number of Shares, Vested	910
2022 Plan [Member] \| Exercise Price Range Six [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 30.59
Share-Based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 35.60
Number of Shares, Outstanding	4,320
Number of Shares, Vested	4,320
2022 Plan [Member] \| Exercise Price Range Seven [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 35.61
Share-Based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 40.62
Number of Shares, Outstanding	2,728
Number of Shares, Vested	2,728
2022 Plan [Member] \| Exercise Price Range Eight [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 40.63
Share-Based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 48.40
Number of Shares, Outstanding	27,956
Number of Shares, Vested	27,956
ABG Warrants [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Shares, Outstanding	999,540
Number of Shares, Exercisable	399,816
ABG Warrants [Member] \| Exercise Price Range One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 9.24
Number of Shares, Outstanding	749,655
Number of Shares, Exercisable	299,862
ABG Warrants [Member] \| Exercise Price Range Two [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 18.48
Number of Shares, Outstanding	249,885
Number of Shares, Exercisable	99,954
New Publisher Partner Warrant [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Shares, Outstanding	9,800
Number of Shares, Exercisable	1,084
New Publisher Partner Warrant [Member] \| Exercise Price Range One [Member] \| Black-Scholes Option Pricing Model [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 5.30
Number of Shares, Outstanding	6,800
Number of Shares, Exercisable
New Publisher Partner Warrant [Member] \| Exercise Price Range Two [Member] \| Black-Scholes Option Pricing Model [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit		$ 10.56
Number of Shares, Outstanding	3,000
Number of Shares, Exercisable	1,084

Schedule of Prepayments and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Prepaid expenses	$ 2,539	$ 2,946	$ 2,321
Prepaid supplies	137	773	927
Refundable income and franchise taxes	157	157	957
Unamortized debt costs		209	216
Employee retention credits	2,468	2,468
Other receivables	6	45	20
Total prepayments and other current assets		6,598	4,441
Excess collections under line of credit	1,715
Total prepayments and other current assets	$ 7,022	5,791	$ 4,441
Restatement [Member]
Prepaid expenses		2,139
Prepaid supplies		773
Refundable income and franchise taxes		157
Unamortized debt costs		209
Employee retention credits		2,468
Other receivables		45
Excess collections under line of credit
Total prepayments and other current assets		$ 5,791

Other Long-term Liabilities

12 Months Ended

Dec. 31, 2023

Other Long-term Liabilities

16. Other Long-term Liabilities

Other long-term liabilities consisted of the following:

	2023		2022
	As of December 31,
	2023		2022
Lease termination liability	$	-	$	3,621
Assumed lease liability		350		1,486
Other		56		200
Total other long-term liabilities	$	406	$	5,307

Liquidated Damages Payable (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands						3 Months Ended		12 Months Ended
	Mar. 21, 2024	Feb. 09, 2024	Dec. 01, 2023	Feb. 10, 2023	Feb. 08, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Stock Issued During Period, Shares, New Issues		5,000,000
Loss Contingency, Damages Sought, Value	$ 20,000
Additional paid in capital								$ 3,497
Liquidated damages payable current						$ 3,000		$ 2,924	$ 5,843
Liquidated damages payable percentage						1.00%		1.00%
Liquidated damages payable current and non current						$ 3,000		$ 2,924	6,337
Percentage of aggregate amount invested						6.00%		6.00%
Liquidated damages payable non current									494
Settlement of liquidated damages							$ 46	$ 130	323
Additional Paid-in Capital [Member]
Additional paid in capital								3,497
Settlement of liquidated damages							46	130	$ 323
B Riley [Member]
Debt Instrument, Decrease, Forgiveness			$ 3,497
Additional paid in capital								3,497
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
Loss Contingency, Damages Sought, Value					$ 499			$ 499
Loss Contingency, Damages Awarded, Value							324
Settlement of liquidated damages							46
Stock Purchase Agreement [Member] \| Investor [Member] \| Additional Paid-in Capital [Member]
Loss Contingency, Damages Sought, Value							$ 370

Discontinued Operations (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Depreciation and Amortization, Discontinued Operations		$ 0
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	$ 209	$ 0

Schedule of Long Term Debt (Details) (Parenthetical)	Dec. 31, 2023	Dec. 31, 2022
Delayed Draw Term Notes [Member]
Short-Term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	10.20%	10.20%
2022 Bridge Notes [Member]
Short-Term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	10.20%	10.20%
Senior Secured Note [Member]
Short-Term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	10.10%	10.10%

Schedule of Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
Schedule of Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Federal
State and local			(88)	(77)
Total current tax (provision) benefit			(88)	(77)
Federal			(57)	985
State and local			(77)	155
Total deferred tax (provision) benefit			(134)	1,140
Total income tax (provision) benefit	$ (41)	$ (7)	$ (222)	$ 1,063

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.7)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Subparagraph (a)
-SubTopic 20
-Topic 740
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482659/740-20-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Compensation Plans (Details Narrative) - USD ($)									2 Months Ended	3 Months Ended		6 Months Ended	12 Months Ended
Compensation Plans (Details Narrative) - USD ($)	Jan. 02, 2024	Jan. 01, 2024	Nov. 02, 2023	Jun. 30, 2023	Feb. 28, 2023	Feb. 28, 2023	Nov. 22, 2022	Mar. 18, 2022	Mar. 14, 2024	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Feb. 09, 2024	Jun. 02, 2022	Jun. 14, 2019
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross				42,635		38,026	232,816	4,343,017
Share-Based Payment Arrangement, Plan Modification, Incremental Cost			$ 380,000				$ 321,000	$ 6,061,000
Stock Issued During Period, Value, New Issues										$ 12,000,000					$ 30,490,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value								$ 143,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares														583,143
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term														5 years 3 months 10 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value														$ 0
Share Price														$ 2.38		$ 5.00
Share-Based Compensation Arrangement by Share-Based Payment Award, Accelerated Vesting, Number			450,560
Other Accrued Liabilities, Current										474,000				$ 489,000	755,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period			10 years
Unamortized Debt Issuance Expense														209,000	$ 216,000
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price								$ 8.82
Original award repricing date								$ 5,918,000
Sports Illustrated Licensing Agreement [Member] \| ABG Warrants [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value														$ 0
Fair market value of stock option														$ 2.38
Sports Illustrated Licensing Agreement [Member] \| ABG Warrants [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights														999,540
Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Gross										678,165	397,376			429,528	832,233
Stock Issued During Period, Value, New Issues										$ 56,000					$ 42,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares					24,515
ABG Warrants [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares	599,724
Class of Warrant or Right, Number of Securities Called by Warrants or Rights																		999,540
ABG Warrants [Member] \| Licensing Agreement [Member] \| Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period	449,793
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 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]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period	149,931
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 18.48
Subsequent Event [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross									22,843
Share Price																$ 5.00
Subsequent Event [Member] \| Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Gross									222,396
Subsequent Event [Member] \| ABG Warrants [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares	599,724
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock Issued During Period, Value, New Issues														$ 2,955,000	8,707,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Accelerated Vesting, Number					38,026							42,635
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period												10 years
Restricted Stock Units (RSUs) [Member] \| Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Gross										678,165	397,376
Restricted Stock Units (RSUs) [Member] \| Subsequent Event [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Gross													295,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period		256,853
Common Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Payment Arrangement, Plan Modification, Incremental Cost				$ 284,000	$ 68,000
Share Price					$ 10.29	$ 10.29
Share-Based Compensation Arrangement by Share-Based Payment Award, Accelerated Vesting, Number					21,117							29,701
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Purchased for Award					45,632
Shares Issued, Price Per Share					$ 8.82	$ 8.82
Other Accrued Liabilities, Current											$ 68,000			$ 68,000
Unamortized Debt Issuance Expense				$ 773,000								$ 773,000
2022 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized														1,800,000			1,800,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross														287,993
Granted														$ 610,000	$ 7,194,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value														$ 2.12	$ 5.25
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value														$ 10,000	$ 1,507,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value														$ 10,155,000	$ 12,694,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term														5 years 21 days
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price														$ 4.22
2022 Plan [Member] \| 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, Options, Grants in Period, Gross														190,556
Publisher Partner Warrant Program [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights														4,154
New Publisher Partner Warrant [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value														$ 0
Fair market value of stock option														$ 2.38

Acquisitions

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Business Acquisition [Line Items]

Acquisitions

3. Acquisitions

The Company uses the acquisition method of accounting, which is based on ASC, Business Combinations (Topic 805), and uses the fair value concepts which requires, among other things, that most assets acquired, and liabilities assumed be recognized at their fair values as of the acquisition date.

Teneology, Inc. – On January 11, 2023, the Company entered into an asset purchase agreement with Teneology, Inc., (“Teneology”) pursuant to which it acquired certain assets (consisting of the RoadFood media business, including digital and television assets; the Moveable Feast media business, including digital and television assets; the Fexy-branded content studio business; and the MonkeySee YouTube Channel media business, collectively “Fexy Studios”), for a purchase price of $3,307. The purchase price consisted of the following: (1) $500 cash paid at closing (including an advance payment of $250 prior to closing); (2) $75 deferred cash payments due in three equal installments of $25 on March 1, 2023 (paid), April 1, 2023 (paid) and May 1, 2023 (paid); (3) $200 deferred cash payment due on the first anniversary of the closing date, subject to certain indemnity provisions (not paid in January 2024); and (4) the issuance of 274,692 shares of the Company’s common stock, subject to certain lock-up provisions, with a fair value of $2,000 on the transaction closing date (fair value was determined based on an independent appraisal); and which was subject to a put option under certain conditions (the “contingent consideration”) with a final vesting date of January 11, 2024 (further details for (3) and (4) are provided in Note 9). The number of shares of the Company’s common stock issued was determined based on a $2,225 value using the common stock trading price on the day immediately preceding the January 11, 2023 closing date (on the closing date the common stock trading price was $7.94 per share). The agreement also provided for a cash retention pool for certain employees of $300, subject to vesting over three years upon continued employment and other conditions.

The composition of the purchase price is as follows:


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 in transaction costs related to the acquisition, which primarily consisted of legal and accounting expenses. The acquisition-related expenses were recorded in general and administrative expenses on the condensed consolidated statements of operations.


Advertiser relationships	$	663
Brand names		659
Goodwill		1,985
Net assets acquired	$	3,307

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 of goodwill to be deductible for tax purposes.

Further details are provided under the heading Intangible Assets in Note 4 related to an impairment of intangible assets (i.e., the advertiser relationships and brand names).

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.

4. Acquisitions and Dispositions

Acquisitions

2023 Acquisition

Teneology, Inc. – On January 11, 2023, the Company entered into an asset purchase agreement with Teneology, Inc., (“Teneology”) pursuant to which it acquired certain assets (consisting of the RoadFood media business, including digital and television assets; the Moveable Feast media business, including digital and television assets; the Fexy-branded content studio business; and the MonkeySee YouTube Channel media business, collectively “Fexy Studios”), for a purchase price of $3,307. The purchase price consisted of the following: (1) $500 cash paid at closing (including an advance payment of $250 prior to closing); (2) $75 deferred cash payments due in three equal installments of $25 on March 1, 2023 (paid), April 1, 2023 (paid) and May 1, 2023 (paid); (3) $200 deferred cash payment due on the first anniversary of the closing date, subject to certain indemnity provisions (not paid in January 2024, further details are provided under the heading Fexy Put Option in Note 28); and (4) the issuance of 274,692 shares of the Company’s common stock, subject to certain lock-up provisions, with a fair value of $2,000 on the transaction closing date (fair value was determined based on an independent appraisal); and which is subject to a put option under certain conditions (the “contingent consideration”) (as further described below in Note 17). The number of shares of the Company’s common stock issued was determined based on a $2,225 value using the common stock trading price on the day immediately preceding the January 11, 2023 closing date (on the closing date the common stock trading price was $7.94 per share). The agreement also provided for a cash retention pool for certain employees of $300, subject to vesting over three years upon continued employment and other conditions.

The composition of the purchase price is as follows:


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.


Advertiser relationships	$	663
Brand names		659
Goodwill		1,985
Net assets acquired	$	3,307

Supplemental Pro Forma Information

2023 Disposition

On November 17, 2023, the Company sold certain assets related to one of Parade’s business components known as Athlon Outdoors for cash proceeds of $1,061 ($1,000 sale price (with a target working capital of $272) plus a preliminary working capital adjustment of $61), as further reduced by a final working capital adjustment of $153, as reflected in accrued expenses and other on the consolidated balance sheets, resulting in a final sale price of $908. In connection with the sale, the Company disposed of certain advertiser relationships and trade name relating to that business component with a carrying value of $639 and $172, respectively, along with the accounts receivable and accounts payable of the business component of $453 and $31, respectively, resulting in a recognized loss on sale of assets of $325 as reflected on the consolidated statements of operations.

2022 Acquisitions

Athlon Holdings, Inc. - On April 1, 2022, the Company acquired 100% of the issued and outstanding capital stock of Athlon Holdings, Inc. (or Parade), a Tennessee corporation, for a purchase price of $15,854, as adjusted for the working capital adjustment as of the closing date of the transaction. The working capital adjustment is pending acceptance by the sellers (further details are provided in Note 27). As a part of the closing consideration, the Company also acquired cash of $1,840, that was further adjusted post-closing for the working capital adjustment. The purchase price of $15,854, as discounted, is comprised of (i) a cash portion of $12,827, with $11,840 paid at closing and $987 estimated to be paid post-closing (as further described below) and (ii) the issuance of 314,103 shares of the Company’s common stock with a fair market value of $3,141. The number of shares of the Company’s common stock issued was determined based on a $3,000 value using the common stock trading price for the 10 trading days preceding the April 1, 2022 closing date. Certain of Parade’s key employees entered into either advisory agreements or employment agreements with the Company. Parade operates in the United States.

The amount estimated to be paid post-closing of $987 will be or was paid as follows: (i) $742 is expected to be paid upon receipts of certain tax refunds due to the sellers (consisting of $3,000 for the deferred cash payments, as discounted, less a $2,258 cash adjustment); and (ii) $245 was paid within two business days from the date the Company received proceeds from the sale of the equity interest in Just Like Falling Off a Bike, LLC that was held by Parade as of the closing date (paid on April 7, 2022).

The Company received a final valuation report from a third party valuation firm after the preliminary purchase price was adjusted during the quarterly period ended September 30, 2022. After considering the results of the final valuation report, the Company estimated that the purchase consideration decreased by $321. The decrease in the purchase price was related to an increase in identifiable assets of $54, an increase in deferred tax liabilities of $27, with a decrease in the working capital adjustment of $321, resulting in a decrease in goodwill of $348.

The composition of the purchase price is as follows:


Cash	$	12,085
Common stock		3,141
Deferred cash payments, as discounted		628
Total purchase consideration	$	15,854

The Company incurred $200 in transaction costs related to the acquisition, which primarily consisted of legal and accounting expenses. The acquisition-related expenses were recorded within general and administrative expense on the consolidated statements of operations.

Summary of Purchase Price Allocation


Cash	$	2,604
Accounts receivable		10,855
Other current assets		1,337
Equity investment		2,450
Fixed assets		108
Digital content		355
Advertiser relationships		6,202
Trade names		2,261
Goodwill		2,587
Accounts payable		(7,416	)
Accrued expenses and other		(2,440	)
Unearned revenue		(1,203	)
Other long-term liabilities		(543	)
Deferred tax liabilities		(1,303	)
Net assets acquired	$	15,854

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 digital content was determined using a cost approach. The fair values of the advertiser relationships were determined by projecting the acquired entity’s cash flows, deducting notional contributory asset charges on supporting assets (working capital, tangible assets, trade names, and the assembled workforce) to compute the excess cash flows associated with the advertiser relationships. The fair values of the trade names were determined by projecting revenue associated with each trade name and applying a royalty rate to compute the amount of the royalty payments the company is relieved from paying due to its ownership of the trade names. The estimated weighted average useful life is two years (2.00 years) for digital content, eight point seventy-five years (8.75 years) for advertiser relationships, and fourteen point five years (14.50 years) for trade names.

The excess 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. No portion of the goodwill related to the acquisition will be deductible for tax purposes.

Supplemental Pro Forma Information

	Year Ended December 31, 2022
Parade continuing operations from acquisition date of April 1, 2022 (unaudited):
Revenue	$	40,071
Net loss		(2,494	)
Combined entity continuing operations supplemental pro forma information had the acquisition date been January 1, 2022 (unaudited):
Revenue:
Parade	$	55,981
Arena		207,681
Total continuing operations supplemental pro forma revenue	$	263,662
Net loss:
Parade	$	(3,070	)
Arena		(67,788	)
Adjustments		(1,940	)
Total continuing operations supplemental pro forma net loss	$	(72,798	)

The information presented above is for illustrative purposes only and is not necessarily indicative of results that would have been achieved if the acquisition had occurred at the beginning of the Company’s reporting period and does not reflect the discontinued operations of Parade Print that was acquired on April 1, 2022 (as part of the Parade acquisition).

The adjustments for the year ended December 31, 2022 of ($1,940), represents adjustments: (1) to record depreciation and amortization expense related to the fixed and intangible assets acquired from the acquisition of ($864); (2) to reverse the nonrecurring transaction cost related to the acquisition of $200; and (3) to reverse the deferred tax benefit related to the acquisition of ($1,276).

Buffalo Groupe, LLC – On September 27, 2022, the Company entered into an asset purchase agreement with Buffalo Groupe, LLC, doing business as Morning Read, where it purchased certain intellectual properties, certain assumed contracts, and other certain rights related to the intellectual properties (collectively, the “Morning Read Purchased Assets”) and assumed certain liabilities related to the Morning Read Purchased Assets. The purchase consideration consisted of a cash payment of $850 at closing.

The Company accounted for the acquisition as an asset acquisition in accordance with ASC 805-50, as substantially all of the fair value of the gross assets acquired by the Company is concentrated in a group of similar identifiable assets.

The purchase consideration totaled $850, which was assigned to the brand name acquired on the closing date of the acquisition. The useful life for the brand name is ten years (10.0 years).

A360 Media, LLC – On December 15, 2022 (the closing date), pursuant to an asset purchase agreement entered into December 7, 2022, the Company acquired certain assets and liabilities from Weider Publications, a subsidiary of A360 Media, LLC (or Men’s Journal) related to the digital media operations of Men’s Journal and other men’s active lifestyle brands. The Company paid $25,000 in cash for the acquisition consisting of: (i) $23,000 paid at closing; (ii) $1,000 deposited into an escrow account to be released in accordance with the terms of the agreement, subject to adjustments for any indemnification payments; and (iii) $1,000 paid in November 2022. The Company also assumed certain liabilities consisting of: (i) $2,676 an assumed lease obligation, as discounted (representing $3,189 in deferred payments over twenty-seven months (27) for the assumption of a lease obligation); and (ii) $4,078 in deferred revenue obligations to deliver certain publications to the subscribers of Men’s Journal ($3,941 in unearned revenue after consideration of an estimated subscription refund liability of $137). In accordance with the practical expedients under ASU 2021-08, the Company has elected to apply (i) the practical expedient to the modification of the subscriber contracts at the acquisition date to determine the performance obligations and transaction price; and (ii) to use the estimated selling price of a subscriber contract as the standalone selling price of the replacement magazine based on the number of magazines expected to be delivered to the Men’s Journal subscribers to satisfy the performance obligations. The agreement contains customary representations, warranties and covenants. Men’s Journal operates in the United States.

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 $283 in transaction costs related to the acquisition, which primarily consisted of legal and accounting expenses. The acquisition-related expenses were recorded within general and administrative expense on the consolidated statements of operations.

In connection with the acquisition of Men’s Journal, the Company received a final valuation report during the quarterly period ended September 30, 2023 from a third party valuation firm after the preliminary purchase price was determined. After considering the results of the final valuation report, the Company estimated that the purchase consideration increased by $1,246 as a result of an increase in the fair value of the assumed lease obligation with an offset recorded to goodwill (see Note 11).


Lease deposit receivable	$	420
Advertiser relationships		6,860
Brand names		6,090
Goodwill		18,384
Unearned revenue		(3,941	)
Subscription refund liability		(137	)
Assumed lease obligation		(2,676	)
Net assets acquired	$	25,000

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 $12,299 of goodwill to be deductible for tax purposes.

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 Men’s Journal. The Company has determined, based on the information provided by Men’s Journal 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 Men’s Journal 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 Men’s Journal was unable to apply the requirement; and (2) the presentation of the pro forma results and the assumptions made by management were unable be independently substantiated.

Business Acquisition [Line Items]

Acquisitions

Note 2 – Acquisition

Acquisitions

On August 31, 2022, the Company acquired TravelHost to begin to expand its media offerings. The purchased assets include the TravelHost trade name and related intellectual property and a lease right of use asset and liability. Financial results for TravelHost have been included in the financial statements from the date of acquisition. The purchase price of TravelHost was approximately $1 million. The acquired assets of TravelHost were recorded at fair value, including $303 thousand to the trade name, valued using the relief from royalty method. The relief-from-royalty method requires forward looking estimates to determine fair value, including among other assumptions, forecasted revenue growth, and estimated royalty rate. The trade name was valued using a royalty rate of 2.5% and a discount rate of 12.5%. The acquisition resulted in $697 thousand of goodwill that represents the excess purchase price over the fair value amounts assigned to the assets acquired and liabilities assumed and represents synergies expected to arise in the Company’s media offerings. The acquisition also resulted in recording of a right of use asset and lease liability in the amount of $33 thousand.

Bridge Media Networks, LLC

Notes to Financial Statements

December 31, 2023 and 2022

Line of Credit

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Line of Credit

7. Line of Credit

Line of Credit – In connection with the Arena Notes Default (as further described below in Note 18) there was a cross-default under the SLR Digital Finance LLC (“SLR” and the “SLR Default”) financing and security agreement for a line of credit (the “Line of Credit”), where the Line of Credit, as amended, was terminated. In connection with the termination, the Company paid SLR $3,448, representing the amount due on the outstanding loan balance, accrued interest, certain fees and contingency reserves other fees in connection with the termination. In connection with the SLR Default, SLR no longer provided funding under the Line of Credit while paying down the Line of Credit with payments received from the Company’s customers in accordance with the terms of the agreement. As of March 31, 2024, the Company repaid the full amount due under the Line of Credit and has an amount due of $1,715 from SLR representing excess collections under the Line of Credit as reflected in prepayments and other current assets on the condensed consolidated balance sheets.

The Line of Credit, as amended, provided for (i) $40,000 maximum amount of advances available (subject to certain limits and eighty-five (85%) of eligible accounts receivable), (ii) an interest rate at the prime rate plus 4.0% per annum of the amount advanced (subject to minimum utilization of at least 10% of the maximum amount of advances available), (iii) payment of a fee equal to 2.25% of the maximum line amount with respect to any termination of the agreement prior to December 31, 2025 at the option of the Company at any time with 60 day notice, (iv) a payment of a performance fee in the amount equal to 2.25% of the maximum line amount, under certain circumstances in connection with the Business Combination (as further described below), and (v) a payment of a success fee in connection with the Business Combination under certain circumstances. As of December 31, 2023, the outstanding balance under the Line of Credit was $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 in Note 12.

14. Line of Credit

Arena Credit Agreement – On December 15, 2022, the Company entered into an amendment to its financing and security agreement for its line of credit with SLR Digital Finance LLC (“SLR” or the “amended line of credit”), as further amended on August 31, 2023 in connection with the Business Combination (see Note 28) (the “SLR Amendment”) pursuant to which the SLR Amendment provided for an extension of the maturity date, additional event of default provisions in connection with the Business Combination, payment of certain fees in connection with the Business Combination, additional borrowings under the 2023 Notes (see Note 18) pursuant to the First Amendment (see Note 18 and Note 27), and issuance of Series A preferred stock in connection with the Business Combination, all of which are more fully described herein. Collectively the amended line of credit and SLR Amendment are referred to as the “line of credit” (or the “Arena Credit Agreement”). In connection with the Arena Notes Default (as further described under the heading Arena Loan Agreement in Note 28) there was a cross-default of the line of credit, or the SLR Default (as further described under the heading Arena Credit Agreement Default in Note 28). The line of credit provided for (i) $40,000 maximum amount of advances available (subject to certain limits and eighty-five (85%) of eligible accounts receivable) pursuant to the amended line of credit, (ii) an interest rate at the prime rate plus 4.0% per annum of the amount advanced (subject to minimum utilization of at least 10% of the maximum amount of advances available) (as of December 31, 2023 the stated interest rate was 12.5%), (iii) payment of a fee equal to 2.25% of the maximum line amount with respect to any termination of the agreement prior to December 31, 2025 at the option of the Company at any time with 60 day notice pursuant to the SLR Amendment, (iv) a payment of a performance fee in the amount equal to 2.25% of the maximum line amount, under certain circumstances pursuant to the Business Combination in connection with a deal deadline or in the event of a deal failure, as defined in the SLR Amendment, further the performance fee will survive the termination of the agreement, pursuant to the SLR Amendment, (v) a payment of a success fee if the Business Combination is consummated, of 0.3% or 0.6% of the maximum line amount if the transaction closes on or before December 31, 2023 or after December 31, 2023, respectively, or $0 if the transaction closes after the deal deadline, pursuant to the SLR Amendment, and (vi) a maturity date of December 31, 2025. The SLR Amendment also permitted the Company to enter into the 2023 Notes in an aggregate of $8,000 (as further described under the heading 2023 Bridge Notes in Note 18) and permitted the issuance of the Series A preferred stock for $25,000 in connection with the Business Combination. The line of credit was for working capital purposes and was secured by a first lien on all the Company’s cash and accounts receivable and a second lien on all other assets.

In connection with the SLR Amendment and amended line of credit, the Company incurred debt costs of $200 and $441, respectively, with the SLR Amendment debt cost plus the unamortized debt cost at the time of the SLR Amendment being amortized over the life of the extended maturity date of the line of credit. The unamortized balance, as of December 31, 2023 and 2022, was reflected in prepayment and other current assets of $209 and $216, respectively, and other long-term assets of $209 and $216, respectively. As of December 31, 2023, the effective interest rate on the line of credit was 13.7%. As of December 31, 2023 and 2022, the balance outstanding under the line of credit was $19,609 and $14,092, respectively, as reflected on the consolidated balance sheets. As of December 31, 2023, in connection with the SLR Default, the Company recorded a $900 termination fee representing 2.25% of the maximum line amount, as reflected in accrued expenses and other on the consolidated balance sheets.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Balance Sheet Components (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Impairment Effects on Earnings Per Share [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current	$ 26,452		$ 31,676	$ 33,950
Other Labor-related Expenses		$ 6,868	6,868
Employee retention credits	2,468		2,468
Depreciation	67	114	352	539
Amortization of Intangible Assets	4,870	7,021		26,570
Amortization of Acquisition Costs	920	1,778	21,022	20,748
Developed Technology [Member]
Impairment Effects on Earnings Per Share [Line Items]
Amortization of Intangible Assets	0	796	2,130	2,831
Platform Development [Member]
Impairment Effects on Earnings Per Share [Line Items]
Amortization of Intangible Assets	1,549	1,573	6,332	5,822
Impairment of Intangible Assets, Finite-Lived	0	64	64	210
Property, Plant and Equipment [Member]
Impairment Effects on Earnings Per Share [Line Items]
Impairment, Long-Lived Asset, Held-for-Use	0	55	$ 55	0
Finite-Lived Intangible Assets [Member]
Impairment Effects on Earnings Per Share [Line Items]
Impairment of Intangible Assets, Finite-Lived	$ 1,198	$ 0		$ 47

Property and Equipment

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

6. Property and Equipment

Property and equipment are summarized as follows:

Schedule of Property and Equipment

	2023			2022
	As of December 31,
	2023			2022
Office equipment and computers	$	1,744		$	1,744
Furniture and fixtures		166			240
Gross property and equipment		1,910			1,984
Less accumulated depreciation and amortization		(1,582	)		(1,249	)
Net property and equipment	$	328		$	735

Depreciation and amortization expense for the years ended December 31, 2023 and 2022 was $352 and $539, respectively. Impairment charges for property and equipment for the years ended December 31, 2023 and 2022 of $55 and $0, respectively, have been recorded on the consolidated statements of operations.

Note 2 – Property and Equipment

Property and equipment consist of the following:


($ in thousands)	March 31, 2024			December 31, 2023			Depreciable Life - Years

Land	$	26		$	26			-
Buildings and building improvements		861			861			7-38
Machinery and equipment		379			324			1-6
Transportation equipment		232			232			4
Office equipment and software		5,919			5,617			1-6
Construction in progress		3,457			3,080			-
Total cost		10,874			10,140
Accumulated depreciation		(1,308	)		(1,012	)
Property and equipment, net	$	9,566		$	9,128

Bridge Media Networks, LLC

Notes to Unaudited Financial Statements

The Company recorded depreciation expense of $296 thousand and $190 thousand and in the three months ended March 31, 2024 and 2023, respectively.

Note 3 – Property and Equipment

Property and equipment consist of the following as of December 31:


($ in thousands)	2023			2022			Depreciable Life - Years

Land	$	26		$	26			-
Buildings and building improvements		861			797			7-38
Machinery and equipment		324			331			1-6
Transportation equipment		232			306			4
Office equipment and software		5,617			1,428			1-6
Station equipment		-			390			5
Construction in progress		3,080			738			-
Total cost		10,140			4,016
Accumulated depreciation		(1,012	)		(300	)
Property and equipment, net	$	9,128		$	3,716

The Company recorded depreciation expense of $805 thousand in 2023. The Company did not record any depreciation expense in 2022 as the property and equipment was contributed by a related party on December 31, 2022

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Schedule of Preliminary Price Allocation (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Nov. 30, 2022
Business Acquisition [Line Items]
Assumed lease obligation		$ (2,676)
Athlon Holdings Inc [Member]
Business Acquisition [Line Items]
Lease deposit receivable	$ 420
Advertiser relationships	6,860
Brand names	6,090
Goodwill	18,384
Unearned revenue	(3,941)
Subscription refund liability	(137)
Assumed lease obligation	(2,676)
Net assets acquired	$ 25,000

Simplify Loan (Details Narrative) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 13, 2024	Dec. 31, 2023
Working capital		$ 25,000
Short-Term Debt	$ 102,342	7,748	$ 102,309
Debt Instrument, Fee Amount		$ 3,448
Simplyfy Loan [Member]
Short-Term Debt	$ 7,748
Working Capital Loan Agreement [Member]
Debt Instrument, Interest Rate, Effective Percentage		5.00%
Simplyfy Loan [Member]
Equity Method Investment, Ownership Percentage		10.00%

Schedule of Contract with Customer, Asset and Liability (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Product Information [Line Items]
Total short-term contract liabilities	$ 12,370	$ 59,786	$ 58,703
Total long-term contract liabilities	624	10,679	19,701
Restatement [Member]
Product Information [Line Items]
Total short-term contract liabilities		16,938
Total long-term contract liabilities		542
Digital Revenue [Member]
Product Information [Line Items]
Total short-term contract liabilities	12,370	14,397	18,571
Total long-term contract liabilities	$ 624	542	1,118
Digital Revenue [Member] \| Restatement [Member]
Product Information [Line Items]
Total short-term contract liabilities		16,938
Total long-term contract liabilities		542
Print Revenue [Member]
Product Information [Line Items]
Total short-term contract liabilities		45,389	40,132
Total long-term contract liabilities		$ 10,137	$ 18,583

Subsequent Events	3 Months Ended	12 Months Ended
Subsequent Events	Mar. 31, 2024	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
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 that provides for minimum lease payments totaling $4,019, with a payment of $652 made on April 11, 2024 representing twelve (12) months of minimum rental payments. In addition, the lease provides for additional rent for taxes and operating expenses under the terms of the underlying lease agreement. *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. *Legal Contingencies* On June 7, 2024, Arena filed a response denying ABG’s alleged breach of contract action and filed a counterclaim against ABG and Minute Media, Inc alleging, among other things, unfair competition, misappropriation of trade secrets, unjust enrichment, breach of contract and tortious interference with contract.	28. 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. *Arena Loan Agreement* On January 5, 2024, as part of negotiations with Renew, in connection with the Company’s failure on December 29, 2023 to make the interest payment due on the Arena Loan Agreement, dated December 15, 2022 held by Renew (the “Arena Notes”) in the amount of $2,797, that resulted in an event of default under the Arena Notes (the “Arena Notes Default”), Renew agreed in writing to a forbearance period through March 29, 2024, subject to the Company retaining a chief restructuring officer acceptable to Renew, while reserving its rights and remedies. The outstanding principal on the Arena Notes was $110,691 as of December 31, 2023. In addition, while the Company continues discussions with Renew to restructure and/or amend the Arena Notes, the Board engaged, and Renew accepted, FTI Consulting Inc., (“FTI”), a global business advisory firm, to assist the Company with its turnaround plans and forge an expedited path to sustainable positive cash flow and earnings to create shareholder value (the “FTI Engagement”). In connection with the FTI Engagement, Jason Frankl, a senior managing director of FTI, was appointed as the Company’s Chief Business Transformation Officer. He was later appointed as interim President in addition to his role as the Company’s Chief Business Transformation Officer, as referenced below. On March 27, 2024, the forbearance period was extended through the earlier of the following: (a) April 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. *Sports Illustrated License Termination Rights* On January 2, 2024, the Company failed to make a quarterly payment due to ABG, pursuant to the Licensing Agreement, of $3,750 (the “ABG Default”). On January 3, 2024, ABG issued a notice of breach with the intent to exercise its right of termination. On January 18, 2024, ABG notified the Company of its intention to terminate the Licensing Agreement, effective immediately, in accordance with its rights under the Licensing Agreement. Upon such termination, a fee of $45,000 became immediately due and payable by the Company to ABG pursuant to the terms and conditions of the Licensing Agreement. On March 18, 2024, ABG announced it had reached an agreement in principle with a third party that will become the new operator of the Sports Illustrated media business. The Company is engaging in continuing discussions with ABG regarding the timing and terms of the transition of the Sports Illustrated media business to this third party. *ABG Warrants* On January 2, 2024, in connection with the ABG Default, the Performance-Based Warrants totaling 599,724 vested as a result of the default pursuant to certain provisions where all of the warrants automatically vest upon certain terminations of the Licensing Agreement by ABG. *Resignation and Appointments* On January 3, 2024, the Board appointed Jason Frankl as Chief Business Transformation Officer of the Company, effective immediately, reporting directly to the Board. On January 4, 2024, the Board accepted the resignation of Manoj Bhargava from his position as interim Chief Executive Officer effective immediately. On January 19, 2024, the Company accepted the resignation of Ross Levinsohn, the Company’s former Chief Executive Officer and Chairman of the Board. On January 23, 2024, the Board appointed Jason Frankl as interim President of the Company, effective immediately, reporting directly to the Board. On January 23, 2024, the Board appointed Cavitt Randall as Chairman of the Board, effective immediately. On February 9, 2024, the Board appointed Cavitt Randall as the Company’s Chief Executive Officer, effective February 13, 2024. On February 16, 2024, the Board appointed Manoj Bhargava as the Company’s Co-President, effective immediately. *Business Combination* On February 9, 2024, New Arena Holdco, Inc. (“New Arena”), a wholly owned subsidiary of the Company, filed a Registration Statement on Form S-4 (File No. 333-276999) with the SEC in connection with the Business Combination Agreement by and among the Company, Simplify, Bridge Media Networks, LLC (“Bridge Media”), New Arena and the other parties dated November 5, 2023, as amended on December 1, 2023 (the “Transaction Agreement”), that provides for the Company to combine its operations with those of Bridge Media, a wholly owned subsidiary of Simplify by way of a series of mergers with and among New Arena (the “Mergers”), subject to customary conditions, including the approval by the Company’s shareholders and certain regulatory approvals. Immediately following the Mergers, the Transaction Agreement provides for: (i) the purchase by The Hans Foundation USA, a nonprofit nonstock corporation (the “Hans Foundation”) of 25,000 shares of New Arena Series A Preferred Stock, par value $0.0001 per share, at a purchase price of $1,000.00 per share, for an aggregate purchase price of $25,000 (such amount, the “Preferred Stock Financing Amount,” and such financing, the “Preferred Stock Financing”) pursuant to the subscription agreement, dated as of November 5, 2023 (the “Preferred Stock Subscription Agreement”), by and between New Arena and the Hans Foundation; and (ii) the purchase by 5-Hour International Corporation Pte. Ltd. (“5-Hour”) of 5,000,000 shares of New Arena common stock, par value $0.0001 per share at a purchase price of $5.00 per share, for an aggregate purchase price of $25,000 (such amount, the “Common Stock Financing Amount,” such financing, the “Common Stock Financing”) pursuant to the subscription agreement, dated as of November 5, 2023 (the “Common Stock Subscription Agreement”), by and between New Arena and 5-Hour. Further, concurrently with the closing of the Mergers, pursuant to that certain Committed Equity Facility Term Sheet, dated November 5, 2023, by and between Arena and Simplify (the “Committed Equity Facility Term Sheet”), New Arena will enter into a Stock Purchase Agreement (the “Stock Purchase Agreement”) with Simplify, pursuant to which Simplify will agree to purchase, at New Arena’s request, up to $20,000 in aggregate purchase price of shares of New Arena common stock from time to time during the 12 months following the closing date at a price per share equal to the lesser of (i) the volume-weighted average price of the New Arena common stock for the last sixty trading days prior to the purchase date and (ii) $3.86 per share (the “Equity Line of Credit”), along with New Arena 60,000 shares of New Arena’s common stock as payment of a 1.5% commitment fee. Immediately following the closing, (i) Simplify will own approximately 79% of the outstanding shares of New Arena common stock, par value $0.0001 per share, 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 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.” The Company anticipates that New Arena common stock will be traded on the NYSE American under Arena’s current stock ticker symbol “AREN.” *Common Stock Private Placement* On February 14, 2024, the Company entered into a subscription agreement (the “Subscription Agreement”) with Simplify, pursuant to which the Company agreed to sell and issue to Simplify in a private placement (the “Private Placement”) an aggregate of 5,555,555 shares (the “Private Placement Shares”) of the Company’s common stock, par value $0.01 per share, 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 net proceeds from the Private Placement of approximately $12,000. The Company intends to use the net proceeds from the Private Placement for working capital and general corporate purposes. Prior to the consummation of the Private Placement, the Company’s public stockholders held a majority of the outstanding shares of the Company’s common stock. Following the issuance of the Private Placement Shares to Simplify, Simplify owns approximately 54.5% of the outstanding shares of the Company’s common stock, resulting in a change in control. As a result, Simplify has the ability to determine the outcome of any issue submitted to the Company’s stockholders for approval, including the election of directors. The funds used by Simplify to purchase the Private Placement Shares came from the working capital of Simplify. *Arena Credit Agreement Default* The Arena Notes Default created an event of cross-default under the Arena Credit Agreement with SLR (the “SLR Default”), resulting in SLR no longer providing for any additional funding under the debt, while paying down the debt with payments received from the Company’s customers in accordance with the terms of the agreement. The Company has refinanced the line of credit with a new credit facility with Simplify (as described below under the heading Simplify Loan). As of the issuance date of the consolidated financial statements, there was no principal amount due under the Arena Credit Agreement. *Fexy Put Option* On February 15, 2024, in connection with the contingent consideration related to the acquisition of Fexy Studios, the Company agreed to pay the amount due of $2,478 in four (4) equal installments of approximately $620 starting February 16, 2024 and then on the 15th day of each March, April and May of 2024 comprised of the following: (i) $2,225 pursuant to the 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. *Simplify Loan* On March 13, 2024, the Company entered into a working capital loan with Simplify (the “Simplify Loan”), pursuant to which the Company has available up to $25,000 at 10% interest rate per annum. The loan is secured by certain assets of the Company. On closing, the Company borrowed $7,748, of which $3,448 was used to repay the outstanding loan balance, accrued interest, certain fees and contingency reserves under the Arena Credit Agreement. *Legal Contingencies* On January 30, 2024, the former President of Media filed an action against the Company and Manoj Bhargava, 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, and 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 filed an action against the Company, members of the 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. The Company believes that it has strong defenses to these claims and intends to vigorously defend itself and the allegations made in this lawsuit. *Common Stock* From January 1, 2024 through the date these consolidated financial statements were issued, the Company issued 378,292 shares of its common stock as follows: (i) 36,608 shares to members of the Board; (ii) 256,853 shares pursuant to vested restricted stock units that were released; and (iii) 84,831 shares to certain former employees. *Compensation Plans* From January 1, 2024 through the date these consolidated financial statements were issued, the Company granted common stock options and restricted stock units totaling 22,843 and 222,396, respectively, to acquire shares of the Company’s common stock to officers, directors, employees and consultants.
Bridge Media Networks L L C [Member]
Restructuring Cost and Reserve [Line Items]
Subsequent Events	Note 6 – Subsequent Events The Company has evaluated events and transactions occurring subsequent to March 31, 2024 through June 13, 2024, the date the financial statements were available to be issued. As of the date of the issued financial statements, there were no subsequent events that have been identified that would require adjustment of, or disclosure in, the accompanying financial statements.	Note 7 – Subsequent Events The Company has evaluated events and transactions occurring subsequent to December 31, 2023 through June 13, 2024, the date the financial statements were available to be issued. Other than the subsequent events described below, there were no subsequent events that have been identified that would require adjustment of, or disclosure in, the accompanying financial statements. Note Payable On January 1, 2024, the Company entered into a revolving promissory note with its parent company, Simplify, in which bears interest at 6%. The revolving promissory note matures on January 1, 2028. The note has a balance of $4.8 million as of June 13, 2024 and the Company recorded interest expense of $67 thousand year to date through June 13, 2024.

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Components (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Schedule of Allowance For Doubtful Accounts

The following table summarizes the allowance for doubtful accounts activity:

	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

The following table summarizes the allowance for doubtful accounts activity:

	2023			2022
	Years Ended of December 31,
	2023			2022
Allowance for doubtful accounts beginning of year	$	2,236		$	1,578
Additions		315			658
Deductions - write-offs		(1,570	)		-
Allowance for doubtful accounts end of year	$	981		$	2,236

Schedule of Prepayments and Other Current Assets

Prepayments and Other Current Assets – Prepayments and other current assets are summarized as follows:

	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

Prepayments and other current assets are summarized as follows:

	2023		2022
	As of December 31,
	2023		2022
Prepaid expenses	$	2,946	$	2,321
Prepaid supplies		773		927
Refundable income and franchise taxes		157		957
Unamortized debt costs		209		216
Employee retention credits		2,468		-
Other receivables		45		20
Total prepayments and other current assets	$	6,598	$	4,441

Schedule of Property and Equipment

Property and Equipment – Property and equipment are summarized as follows:

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

Property and equipment are summarized as follows:

Schedule of Property and Equipment

	2023			2022
	As of December 31,
	2023			2022
Office equipment and computers	$	1,744		$	1,744
Furniture and fixtures		166			240
Gross property and equipment		1,910			1,984
Less accumulated depreciation and amortization		(1,582	)		(1,249	)
Net property and equipment	$	328		$	735

Summary of Platform Development Costs

Platform Development – Platform development costs are summarized as follows:

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

Platform development costs are summarized as follows:

Summary of Platform Development Costs

	2023			2022
	As of December 31,
	2023			2022
Platform development	$	26,054		$	21,493
Less accumulated amortization		(17,331	)		(11,163	)
Net platform development	$	8,723		$	10,330

Summary of Platform Development Cost Activity

A summary of platform development activity for the three months ended March 31, 2024 is as follows:

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

A summary of platform development activity is as follows:

	As of December 31,
	2023			2022
Platform development beginning of year	$	21,493		$	21,997
Payroll-based costs capitalized		3,773			5,179
Less dispositions		(164	)		(7,357	)
Total capitalized payroll-based costs		25,102			19,819
Stock-based compensation		1,016			1,884
Impairments		(64	)		(210	)
Platform development end of year	$	26,054		$	21,493

Schedule of Intangible Assets Subject to Amortization

Intangible Assets – Intangible assets subject to amortization consisted of the following:

	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 consisted of the following:

	As of December 31, 2023									As of December 31, 2022
	Weighted Average Useful Life (in years)		Carrying Amount		Accumulated Amortization			Net Carrying Amount		Carrying Amount		Accumulated Amortization			Net Carrying Amount
Developed technology		4.70	$	17,333	$	(17,333	)	$	-	$	17,333	$	(14,883	)	$	2,450
Trade name		16.10		5,181		(1,547	)		3,634		5,380		(1,180	)		4,200
Brand name		9.70		12,774		(2,374	)		10,400		12,115		(908	)		11,207
Subscriber relationships		5.10		73,459		(61,654	)		11,805		73,459		(47,146	)		26,313
Advertiser relationships		10.20		15,182		(2,832	)		12,350		15,302		(1,368	)		13,934
Database		3.00		2,397		(2,171	)		226		2,397		(1,753	)		644
Digital content		2.00		355		(311	)		44		355		(133	)		222
Total intangible assets			$	126,681	$	(88,222	)	$	38,459	$	126,341	$	(67,371	)	$	58,970

Schedule of Accrued Expenses

Accrued Expenses and Other – Accrued expenses and other are summarized as follows:

	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

Accrued expenses and other are summarized as follows:

Schedule of Accrued Expenses

	2023		2022
	As of December 31,
	2023		2022
General accrued expenses	$	6,486	$	6,339
Accrued payroll and related taxes		5,448		5,221
Accrued publisher expenses		7,596		4,911
Accrued interest		3,824		-
Liabilities in connection with acquisitions and dispositions		1,119		1,123
Assumed lease liability		1,328		-
Lease termination liability		4,481		4,753
Other accrued expenses		489		755
Total accrued expenses and other	$	30,771	$	23,102

Schedule of Carrying Value of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Carrying value at the beginning of the year	$ 42,575	$ 39,344	$ 39,344	$ 19,619
Loss on impairment
Carrying value at the end of the year	42,575		42,575	39,344
Parade [Member]
Restructuring Cost and Reserve [Line Items]
Goodwill acquired in acquisition				2,587
Mens Journal [Member]
Restructuring Cost and Reserve [Line Items]
Goodwill acquired in acquisition			1,246	17,138
Fexy Studios [Member]
Restructuring Cost and Reserve [Line Items]
Goodwill acquired in acquisition			1,985
Bridge Media Networks L L C [Member]
Restructuring Cost and Reserve [Line Items]
Carrying value at the beginning of the year	697	697	697
Goodwill acquired in acquisition				697
Carrying value at the end of the year	$ 697	$ 697	$ 697	$ 697

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.