0001493152-21-011158 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2020	May 05, 2021
Cover [Abstract]
Entity Registrant Name	theMaven, Inc.
Entity Central Index Key	0000894871
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	No
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		230,287,723
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 2,274,789	$ 8,852,281
Restricted cash	1,000,809	620,809
Accounts receivable, net	10,561,022	16,233,955
Subscription acquisition costs, current portion	8,750,230	3,142,580
Royalty fees, current portion	15,000,000	15,000,000
Prepayments and other current assets	4,467,607	4,310,735
Total current assets	42,054,457	48,160,360
Property and equipment, net	1,329,534	661,277
Operating lease right-of-use assets	19,589,040	3,980,649
Platform development, net	6,864,805	5,892,719
Royalty fees, net of current portion	18,750,000	26,250,000
Subscription acquisition costs, net of current portion	7,785,479	3,417,478
Acquired and other intangible assets, net	82,194,391	91,404,144
Other long-term assets	1,799,349	1,085,287
Goodwill	16,139,377	16,139,377
Total assets	196,506,432	196,991,291
Current liabilities:
Accounts payable	8,466,629	9,580,186
Accrued expenses and other	12,203,633	16,483,201
Line of credit	3,243,882
Unearned revenue	55,419,426	32,163,087
Subscription refund liability	3,277,849	3,144,172
Operating lease liabilities	1,506,992	2,203,474
Liquidated damages payable	9,248,188	8,080,514
Convertible debt	930,375	741,197
Warrant derivative liabilities	1,261,705	1,644,200
Embedded derivative liabilities	8,958,000	13,501,000
Total current liabilities	104,516,679	87,541,031
Unearned revenue, net of current portion	14,816,588	31,179,211
Operating lease liabilities, net of current portion	19,919,015	2,616,132
Other long-term liability	242,310	242,310
Officer promissory notes	322,831	319,351
Convertible debt, net of current portion	15,219,549	12,497,765
Long-term debt	60,390,250	44,009,745
Total liabilities	215,427,222	178,405,545
Commitments and contingencies (Note 12)
Mezzanine equity:
Total mezzanine equity	55,653,730	55,653,730
Stockholders' deficiency:
Common stock, $0.01 par value, authorized 1,000,000,000 shares; issued and outstanding: 38,590,363 and 37,119,117 shares at June 30, 2020 and December 31, 2019, respectively	385,902	371,190
Common stock to be issued	25,879	39,383
Additional paid-in capital	43,992,975	35,562,766
Accumulated deficit	(118,979,276)	(73,041,323)
Total stockholders' deficiency	(74,574,520)	(37,067,984)
Total liabilities, mezzanine equity and stockholders' deficiency	196,506,432	196,991,291
Series G Redeemable and Convertible Preferred Stock [Member]
Mezzanine equity:
Total mezzanine equity	168,496	168,496
Series H Convertible Preferred Stock [Member]
Mezzanine equity:
Total mezzanine equity	18,045,496	18,045,496
Series I Convertible Preferred Stock [Member]
Mezzanine equity:
Total mezzanine equity	19,699,742	19,699,742
Series J Convertible Preferred Stock [Member]
Mezzanine equity:
Total mezzanine equity	$ 17,739,996	$ 17,739,996

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	38,590,363	37,119,117
Common stock, shares outstanding	38,590,363	37,119,117
Series G Redeemable and Convertible Preferred Stock [Member]
Temporary equity, par value	$ 0.01	$ 0.01
Temporary equity, liquidation preference per share value	$ 1,000	$ 1,000
Temporary equity, shares authorized	1,800	1,800
Temporary equity, liquidation preference value	$ 168,496	$ 168,496
Temporary equity, shares issued	168,496	168,496
Temporary equity, shares outstanding	168,496	168,496
Temporary equity, common shares issuable upon conversion	$ 188,791	$ 188,791
Series H Convertible Preferred Stock [Member]
Temporary equity, par value	$ 0.01	$ 0.01
Temporary equity, liquidation preference per share value	$ 1,000	$ 1,000
Temporary equity, shares authorized	23,000	23,000
Temporary equity, liquidation preference value	$ 19,399,250	$ 19,399,250
Temporary equity, shares issued	19,400	19,400
Temporary equity, shares outstanding	19,400	19,400
Temporary equity, common shares issuable upon conversion	$ 58,787,879	$ 58,787,879
Series I Convertible Preferred Stock [Member]
Temporary equity, par value	$ 0.01	$ 0.01
Temporary equity, liquidation preference per share value	$ 1,000	$ 1,000
Temporary equity, shares authorized	25,800	25,800
Temporary equity, liquidation preference value	$ 23,100,000	$ 23,100,000
Temporary equity, shares issued	23,100	23,100
Temporary equity, shares outstanding	23,100	23,100
Temporary equity, common shares issuable upon conversion	$ 46,200,000	$ 46,200,000
Series J Convertible Preferred Stock [Member]
Temporary equity, par value	$ 0.01	$ 0.01
Temporary equity, liquidation preference per share value	$ 1,000	$ 1,000
Temporary equity, shares authorized	35,000	35,000
Temporary equity, liquidation preference value	$ 20,000,000	$ 20,000,000
Temporary equity, shares issued	20,000	20,000
Temporary equity, shares outstanding	20,000	20,000
Temporary equity, common shares issuable upon conversion	$ 28,571,428	$ 28,571,428

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenue	$ 23,090,940	$ 5,770,283	$ 53,503,793	$ 12,044,246
Cost of revenue (includes amortization of developed technology and platform development for six months ended 2020 and 2019 of $4,259,333 and $2,686,289, respectively)	24,874,179	5,487,172	51,613,012	11,139,737
Gross profit (loss)	(1,783,239)	283,111	1,890,781	904,509
Operating expenses
Selling and marketing	8,409,343	1,451,101	17,769,281	2,600,393
General and administrative	7,270,511	5,871,015	17,680,716	10,096,268
Depreciation and amortization	4,127,126	107,637	8,223,806	215,977
Total operating expenses	19,806,980	7,429,753	43,673,803	12,912,638
Loss from operations	(21,590,219)	(7,146,642)	(41,783,022)	(12,008,129)
Other (expense) income
Change in valuation of warrant derivative liabilities	243,276	(166,075)	382,495	(541,770)
Change in valuation of embedded derivative liabilities	2,922,000	(1,396,000)	4,543,000	(3,779,000)
Interest expense	(4,116,407)	(1,876,054)	(7,916,135)	(3,177,262)
Interest income	1,640	63	3,383	3,234
Liquidated damages	(621,619)	(853)	(1,167,674)	(17,740)
Other				126
Total other expense	(1,571,110)	(3,438,919)	(4,154,931)	(7,512,412)
Loss before income taxes	(23,161,329)	(10,585,561)	(45,937,953)	(19,520,541)
Income taxes
Net loss	$ (23,161,329)	$ (10,585,561)	$ (45,937,953)	$ (19,520,541)
Basic and diluted net loss per common share	$ (0.59)	$ (0.3)	$ (1.17)	$ (0.55)
Weighted average number of common shares outstanding - basic and diluted	39,217,524	35,556,188	39,171,629	35,208,771

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Amortization cost of developed technology and platform development	$ 4,259,333	$ 2,686,289

Condensed Consolidated Statements of Stockholders' Deficiency (Unaudited) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Common Stock [Member]
Balance	$ 374,746	$ 371,190	$ 376,861	$ 357,685	$ 371,190	$ 357,685
Balance, shares	37,474,736	37,119,117	37,686,173	35,768,619	37,119,117	35,768,619
Issuance of common stock in connection with the merger/acquisition of Say Media	$ 13,504			$ 11,889
Issuance of common stock in connection with the merger/acquisition of Say Media, shares	1,350,394			1,188,880
Forfeiture of restricted stock			$ (5,800)	$ (1,200)
Forfeiture of restricted stock, shares			(580,000)	(120,000)
Issuance of restricted stock awards to the board of directors		$ 5,625		$ 8,333
Issuance of restricted stock awards to the board of directors, shares		562,500		833,333
Cashless exercise of common stock options, shares				15,341
Stock-based compensation
Common stock withheld for taxes	$ (2,348)	$ (2,069)	$ (1,672)
Common stock withheld for taxes, shares	(234,767)	(206,881)	(167,246)
Issuance of restricted stock units in connection with the acquisition of LiftIgniter
Issuance of restricted stock units in connection with the acquisition of LiftIgniter, Shares
Net loss
Balance	$ 385,902	$ 374,746	$ 369,389	$ 376,861	$ 385,902	$ 369,389
Balance, shares	38,590,363	37,474,736	36,938,927	37,686,173	38,590,363	36,938,927
Common Stock to be Issued [Member]
Balance	$ 39,283	$ 39,383	$ 39,383	$ 51,272	$ 39,383	$ 51,272
Balance, shares	3,938,287	3,938,287	3,938,287	5,127,167	3,938,287	5,127,167
Issuance of common stock in connection with the merger/acquisition of Say Media	$ (13,504)			$ (11,889)
Issuance of common stock in connection with the merger/acquisition of Say Media, shares	(1,350,394)			(1,188,880)
Forfeiture of restricted stock
Forfeiture of restricted stock, shares
Issuance of restricted stock awards to the board of directors
Issuance of restricted stock awards to the board of directors, shares
Cashless exercise of common stock options, shares
Stock-based compensation
Common stock withheld for taxes
Common stock withheld for taxes, shares
Issuance of restricted stock units in connection with the acquisition of LiftIgniter
Issuance of restricted stock units in connection with the acquisition of LiftIgniter, Shares
Net loss
Balance	$ 25,879	$ 39,283	$ 39,383	$ 39,383	$ 25,879	$ 39,383
Balance, shares	2,587,893	3,938,287	3,938,287	3,938,287	2,587,893	3,938,287
Additional Paid-in Capital [Member]
Balance	$ 39,819,901	$ 35,562,766	$ 24,893,365	$ 23,413,077	$ 35,562,766	$ 23,413,077
Issuance of common stock in connection with the merger/acquisition of Say Media
Forfeiture of restricted stock			5,800	1,200
Issuance of restricted stock awards to the board of directors		(5,625)		(8,333)
Stock-based compensation	4,283,066	3,930,172	3,044,620	1,487,575
Common stock withheld for taxes	(109,992)	(167,412)	(73,588)
Issuance of restricted stock units in connection with the acquisition of LiftIgniter		500,000
Net loss
Balance	43,992,975	39,819,901	27,870,197	24,893,365	43,992,975	27,870,197
Accumulated Deficit [Member]
Balance	(95,817,947)	(73,041,323)	(43,474,934)	(34,539,954)	(73,041,323)	(34,539,954)
Issuance of common stock in connection with the merger/acquisition of Say Media
Forfeiture of restricted stock
Issuance of restricted stock awards to the board of directors
Stock-based compensation
Common stock withheld for taxes
Issuance of restricted stock units in connection with the acquisition of LiftIgniter
Net loss	(23,161,329)	(22,776,624)	(10,585,561)	(8,934,980)
Balance	(118,979,276)	(95,817,947)	(54,060,495)	(43,474,934)	(118,979,276)	(54,060,495)
Balance	(55,583,917)	(37,067,984)	(18,165,325)	(10,717,920)	(37,067,984)	(10,717,920)
Issuance of common stock in connection with the merger/acquisition of Say Media
Forfeiture of restricted stock
Issuance of restricted stock awards to the board of directors
Stock-based compensation	4,283,066	3,930,172	3,044,620	1,487,575
Common stock withheld for taxes	(112,340)	(169,481)	(75,260)
Issuance of restricted stock units in connection with the acquisition of LiftIgniter		500,000
Net loss	(23,161,329)	(22,776,624)	(10,585,561)	(8,934,980)	(45,937,953)	(19,520,541)
Balance	$ (74,574,520)	$ (55,583,917)	$ (25,781,526)	$ (18,165,325)	$ (74,574,520)	$ (25,781,526)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Cash flows from operating activities
Net loss	$ (23,161,329)	$ (22,776,624)	$ (10,585,561)	$ (8,934,980)	$ (45,937,953)	$ (19,520,541)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of property and equipment					396,966	21,177
Amortization of platform development and intangible assets					12,086,173	2,881,089
Amortization of debt discounts					3,206,982	1,580,796
Change in valuation of warrant derivative liabilities	(243,276)		166,075		(382,495)	541,770
Change in valuation of embedded derivative liabilities	(2,922,000)		1,396,000		(4,543,000)	3,779,000
Accrued interest					4,385,240	907,582
Liquidated damages					1,167,674	17,740
Stock-based compensation					7,343,575	3,959,925
Other					(141,188)	(6,812)
Change in operating assets and liabilities net of effect of business combination:
Accounts receivable					5,852,029	10,261,222
Factor receivables						(6,130,674)
Subscription acquisition costs					(9,975,651)	17,056
Royalty fees					7,500,000	(45,000,000)
Prepayments and other current assets					(156,872)	140,091
Other long-term assets					(714,062)	27,628
Accounts payable					(1,167,051)	(2,672,264)
Accrued expenses and other					(4,279,568)	2,414,501
Unearned revenue					6,806,829	(300,057)
Subscription refund liability					133,677
Operating lease liabilities					998,010	(2,810)
Net cash used in operating activities					(17,420,685)	(47,083,581)
Cash flows from investing activities
Purchases of property and equipment					(1,065,223)	(25,400)
Capitalized platform development					(2,061,081)	(980,257)
Advance related to pending acquisition of TheStreet, Inc.						(16,500,000)
Payments for acquisition of business					(315,289)
Net cash used in investing activities					(3,441,593)	(17,505,657)
Cash flows from financing activities
Proceeds from delayed draw term note					6,000,000
Proceeds from long-term debt					5,702,725	68,000,000
Repayments of long-term debt						(4,640,000)
Payment of debt issuance costs						(3,595,000)
Proceeds from 12% senior convertible debentures						2,000,000
Proceeds from issuance of Series I convertible preferred stock						15,000,000
Payment of issuance costs of Series I convertible preferred stock						(1,406,000)
Borrowings under line of credit, net					3,243,882	415,404
Payment for taxes related to repurchase of restricted common stock					(281,821)	(75,260)
Repayment of officer promissory notes						(366,842)
Net cash provided by financing activities					14,664,786	75,332,302
Net increase (decrease) in cash, cash equivalents, and restricted cash					(6,197,492)	10,743,064
Cash, cash equivalents, and restricted cash - beginning of period		$ 9,473,090		$ 2,527,289	9,473,090	2,527,289	$ 2,527,289
Cash, cash equivalents, and restricted cash - end of period	$ 3,275,598		$ 13,270,353		3,275,598	13,270,353	$ 9,473,090
Supplemental disclosure of cash flow information
Cash paid for interest					323,913	731,126
Cash paid for income taxes
Noncash investing and financing activities
Reclassification of stock-based compensation to platform development					869,663	572,270
Debt discount on delayed draw term note					913,865
Restricted stock units issued in connection with acquisition of LiftIgniter					500,000
Assumption of liabilities in connection with acquisition of LiftIgniter					140,381
Discount of 12% senior convertible debentures allocated to embedded derivative liabilities						1,074,000
Liquidated damages liability recorded against cash proceeds for 12% senior convertible debentures						84,000
Liquidated damages liability recorded against cash proceeds for Series I convertible preferred stock						1,940,400
Series I convertible preferred stock subscription receivable						$ 8,100,000

Condensed Consolidated Statements of Cash Flows (Parenthetical) - Senior Convertible Debentures [Member]	6 Months Ended
	Jun. 30, 2019
Discount on debt percentage	12.00%
Liquidation damage percentage	12.00%

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

1. Summary of Significant Accounting Policies

Basis of Presentation

The condensed consolidated financial statements include the accounts of TheMaven, Inc. and its wholly owned subsidiaries (“Maven” or the “Company”), after eliminating all significant intercompany balances and transactions. The Company does not have any off-balance sheet arrangements.

The condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC. These condensed consolidated financial statements have been prepared in accordance with the United States generally accepted accounting principles (“US GAAP”) for interim financial information, the instructions to Form 10-Q and Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements, which are included in Maven’s Annual Report on Form 10-K (the “Form 10-K”) for the year ended December 31, 2019, filed with the SEC on April 9, 2021.

The condensed consolidated financial statements as of June 30, 2020, and for the three and six months ended June 30, 2020 and 2019, 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, 2019, was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The results of operations for interim periods are not necessarily indicative of the results to be expected for the entire fiscal year.

Liquidity

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

The Company has a history of recurring losses. The Company’s recurring losses from operations and net capital deficiency 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. The operating loss realized for the six months ended June 30, 2020 was primarily a result of a marketing investment in customer growth, together with investments in people and technology as the Company continued to expand its operations. The operating loss realized in fiscal 2019 was primarily a result of investments in people, infrastructure for the Company’s technology platform, and operations expanding during fiscal 2019 with the acquisition of TheStreet, Inc. (“TheStreet”) and the licensing agreement for certain Sports Illustrated brands, along with continued costs based on the strategic growth plans in other verticals.

As reflected in these condensed consolidated financial statements, the Company had revenues of $53,503,793 for the six months ended June 30, 2020, and experienced recurring net losses from operations, negative working capital, and negative operating cash flows. During the six months ended June 30, 2020, the Company incurred a net loss of $45,937,953, utilized cash in operating activities of $17,420,685, and as of June 30, 2020, had an accumulated deficit of $118,979,276. The Company has financed its working capital requirements since inception through the issuance of debt and equity securities.

Additionally, as a result of the novel coronavirus (“COVID-19”) pandemic, the Company experienced a decline in traffic and advertising revenue in the first and second quarters of 2020. The Company implemented cost reduction measures in an effort to offset these declines. Since May 2020, there has been a steady recovery in the advertising market in both pricing and volume, which coupled with the return of professional and college sports yielded steady growth in revenues through the balance of 2020 and start of 2021. The Company expects a continued growth in advertising revenue back toward pre-pandemic levels, however, such growth depends on future developments, including the duration of COVID-19, future sport event advisories and restrictions, and the extent and effectiveness of containment actions taken.

Management has evaluated whether relevant conditions or events, considered in the aggregate, raise substantial doubt about the Company’s ability to continue as a going concern. Substantial doubt exists when conditions and events, considered in the aggregate, indicate it is probable that a company will not be able to meet its obligations as they become due within one year after the issuance date of its financial statements. Management’s assessment is based on the relevant conditions that are known or reasonably knowable as of the date these condensed consolidated financial statements were issued or were available to be issued.

Management’s assessment of the Company’s ability to meet its future obligations is inherently judgmental, subjective, and susceptible to change. The factors that the Company considered important in its going concern analysis, include, but are not limited to, its fiscal 2021 cash flow forecast and its fiscal 2021 operating budget. Management also considered the Company’s ability to repay its obligations through future equity and the implementation of cost reduction measures in effect to offset revenue and earnings declines from COVID-19. These factors consider information including, but not limited to, the Company’s financial condition, liquidity sources, obligations due within one year after the issuance date of these condensed consolidated financial statements, the funds necessary to maintain operations and financial conditions, including negative financial trends or other indicators of possible financial difficulty.

In particular, the Company’s plan for the: (1) 2021 cash flow forecast, considered the use of its working capital line with FastPay (as described in Note 5) to fund changes in working capital, where the Company has available credit of approximately $10.1 million as of the issuance date of these condensed consolidated financial statements for the six months ended June 30, 2020, and that the Company does not anticipate the need for any further borrowings that are subject to the holders approval, from its Delayed Draw Term Note (as described in Note 8) where the Company may be permitted to borrow up to an additional $5,000,000; and (2) 2021 operating budget, considered that approximately sixty-five percent of the Company’s revenue is from recurring subscriptions, generally paid in advance, and that digital subscription revenue, that accounts for approximately thirty percent of subscription revenue, grew approximately thirty percent during 2020 demonstrating the strength of its premium brand, and the plan to continue to grow its subscription revenue from its acquisition of TheStreet and the launch of premium digital subscriptions from its Sports Illustrated licensed brands.

The Company has considered both quantitative and qualitative factors as part of the assessment that are known or reasonably knowable as of the date these condensed consolidated financial statements were issued or were available to be issued and concluded that conditions and events considered in the aggregate, do not raise substantial doubt about the Company’s ability to continue as a going concern for a one-year period following the financial statement issuance date.

Reclassifications

Certain prior year amounts have been reclassified to conform to the fiscal 2020 presentation with no impact to previously reported earnings.

Use of Estimates

Preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and the accompanying notes. Actual results could differ materially from these estimates. On an ongoing basis, the Company evaluates its estimates, including those related to the allowance for credit losses, fair values of financial instruments, capitalization of platform development, intangible assets and goodwill, useful lives of intangible assets and property and equipment, income taxes, fair value of assets acquired and liabilities assumed in the business acquisitions, determination of the fair value of stock-based compensation and valuation of derivatives liabilities and contingent liabilities, among others. The Company bases its estimates on assumptions, both historical and forward looking, that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities.

Contract Modifications

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

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

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

A contract modification meeting both criteria is accounted for as a separate contract. A contract modification not meeting both criteria is considered a change to the original contract and is accounted for on either a prospective basis as a termination of the existing contract and the creation of a new contract, or a cumulative catch-up basis (see Note 3 and Note 11).

Recently Adopted Accounting Standards

In June 2016, the FASB ASU 2016-13, Financial Instruments – Credit Losses (Topic 326), which introduces a new model for recognizing credit losses for certain financial instruments, including loans, accounts receivable and debt securities. The new model requires an estimate of expected credit losses over the life of exposure to be recorded through the establishment of an allowance account, which is presented as an offset to the related financial asset. The expected credit loss is recorded upon the initial recognition of the financial asset. On January 1, 2020, the Company adopted ASU 2016-13 using the modified retrospective approach with no material impact to its condensed consolidated financial statements.

In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which simplifies how an entity is required to test goodwill for impairment. The amendments require goodwill impairment to be measured using the difference between the carrying amount and the fair value of the reporting unit and require the loss recognized to not exceed the total amount of goodwill allocated to that reporting unit. On January 1, 2020, the Company adopted ASU 2017-04 on a prospective basis with no material impact to its condensed consolidated financial position, results of operations or cash flows.

Loss per Common Share

Basic loss per share is computed using the loss available to common stockholders over the weighted average number of common shares outstanding during the period and excludes any dilutive effects of common stock equivalent shares, such as stock options, restricted stock, and warrants. All restricted stock awards are considered outstanding but is included in the computation of basic loss per common share only when the underlying restrictions expire, the shares are no longer forfeitable, and are thus vested. All restricted stock units are included in the computation of basic loss per common share only when the underlying restrictions expire, the shares are no longer forfeitable, and are thus vested. Contingently issuable shares are included in basic loss per common share only when there are no circumstance under which those shares would not be issued. Diluted loss per common share is computed using the weighted average number of common shares outstanding and common stock equivalent shares outstanding during the period using the treasury stock method. Common stock equivalent shares are excluded from the computation if their effect is anti-dilutive.

The Company excluded the outstanding securities summarized below (capitalized terms are described herein), which entitle the holders thereof to acquire shares of the Company’s common stock, from its calculation of net income loss per common share, as their effect would have been anti-dilutive.

	As of June 30,
	2020		2019
Series G Preferred Stock		188,791		188,791
Series H Preferred Stock		58,787,879		58,787,879
Series I Preferred Stock		46,200,000		46,200,000
Series J Preferred Stock		28,571,428		-
Indemnity shares of common stock		412,500		825,000
Restricted Stock Awards		1,433,332		3,574,997
Financing Warrants		2,882,055		3,949,018
ABG Warrants		21,989,844		-
Channel Partner Warrants		789,541		939,540
Restricted Stock Units		2,399,997		2,399,997
Common Stock Awards		8,033,936		9,047,892
Common Equity Awards		82,744,480		48,154,840
Outside Options		2,986,000		3,732,667
Total		257,419,783		177,800,621

Acquisitions

6 Months Ended

Jun. 30, 2020

Business Combinations [Abstract]

Acquisitions

2. Acquisitions

On March 9, 2020, the Company entered into an asset purchase agreement with Petametrics Inc., dba LiftIgniter, a Delaware corporation (“LiftIgniter”), where it purchased substantially all the assets, including the intellectual property and excluding certain accounts receivable, and assumed certain liabilities. The purchase price consisted of: (1) cash payment of $184,087 on February 19, 2020, in connection with the repayment of all outstanding indebtedness, (2) at closing a cash payment of $131,202, (3) collections of certain accounts receivable, (4) on the first anniversary date of the closing issuance of restricted stock units for an aggregate of up to 312,500 shares of the Company’s common stock, and (5) on the second anniversary date of the closing issuance of restricted stock units for an aggregate of up to 312,500 shares of the Company’s common stock.

The composition of the preliminary purchase price is as follows:

Cash	$	315,289
Indemnity restricted stock units for shares of common stock		500,000
Total purchase consideration	$	815,289

The preliminary purchase price allocation resulted in the following amounts being allocated to the assets acquired and liabilities assumed at the closing date of the acquisition based upon their respective fair values as summarized below:

Accounts receivable	$	37,908
Developed technology		917,762
Accounts payable		(53,494	)
Unearned revenue		(86,887	)
Net assets acquired	$	815,289

The useful life for the developed technology is five years (5.0 years).

Balance Sheet Components

6 Months Ended

Jun. 30, 2020

Balance Sheet Components

Balance Sheet Components

3. Balance Sheet Components

The components of certain balance sheet amounts are as follows:

Accounts Receivable – Accounts receivable are presented net of allowance for doubtful accounts. The allowance for doubtful accounts as of June 30, 2020 and December 31, 2019 was $445,317 and $304,129, respectively.

Subscription Acquisition Costs – Subscription acquisition costs include the incremental costs of obtaining a contract with a customer, paid to external parties, if it expects to recover those costs. The current portion of the subscription acquisition costs as of June 30, 2020 and December 31, 2019 was $8,750,230 and $3,142,580, respectively. The noncurrent portion of the subscription acquisition costs as of June 30, 2020 and December 31, 2019 was $7,785,479 and $3,417,478, respectively.

Certain contract amendments resulted in a modification to the subscription acquisition costs that will be recognized on a prospective basis in the same proportion as the revenue that has not yet been recognized (further details are provided in Note 11).

Platform Development – Platform development costs are summarized as follows:

	As of
	June 30, 2020			December 31, 2019
Platform development	$	13,609,436		$	10,678,692
Less accumulated amortization		(6,744,631	)		(4,785,973	)
Net platform development	$	6,864,805		$	5,892,719

A summary of platform development activity for the six months ended June 30, 2020 and year ended December 31, 2019 is as follows:

	As of
	June 30, 2020		December 31, 2019
Platform development beginning of period	$	10,678,692	$	6,833,900
Payroll-based costs capitalized during the period		2,061,081		2,537,402
Total capitalized costs		12,739,773		9,371,302
Stock-based compensation		869,663		1,307,390
Platform development end of period	$	13,609,436	$	10,678,692

Amortization expense for the three months ended June 30, 2020 and 2019 was $1,037,834 and $623,819, respectively.

Amortization expense for the six months ended June 30, 2020 and 2019 was $1,958,658 and $1,211,289, respectively.

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

	As of June 30, 2020							As of December 31, 2019
	Carrying Amount		Accumulated Amortization			Net Carrying Amount		Carrying Amount		Accumulated Amortization			Net Carrying Amount
Developed technology	$	20,055,866	$	(6,391,034	)	$	13,664,832	$	19,138,104	$	(4,090,359	)	$	15,047,745
Noncompete agreement		480,000		(372,000	)		108,000		480,000		(252,000	)		228,000
Trade name		3,328,000		(364,042	)		2,963,958		3,328,000		(224,745	)		3,103,255
Subscriber relationships		73,458,799		(10,846,438	)		62,612,361		73,458,799		(3,587,837	)		69,870,962
Advertiser relationships		2,240,000		(213,577	)		2,026,423		2,240,000		(94,635	)		2,145,365
Database		1,140,000		(341,183	)		798,817		1,140,000		(151,183	)		988,817
Subtotal amortizable intangible assets		100,702,665		(18,528,274	)		82,174,391		99,784,903		(8,400,759	)		91,384,144
Website domain name		20,000		-			20,000		20,000		-			20,000
Total intangible assets	$	100,722,665	$	(18,528,274	)	$	82,194,391	$	99,804,903	$	(8,400,759	)	$	91,404,144

Amortization expense for the three months ended June 30, 2020 and 2019 was $5,094,791 and $834,900, respectively. Amortization expense for the six months ended June 30, 2020 and 2019 was $10,127,515 and $1,669,800. No impairment charges have been recorded during the six months ended June 30, 2020 and 2019.

Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

4. Leases

The Company’s leases are primarily comprised of real estate leases for the use of office space, with certain lease arrangements that contain equipment. The Company determines whether an arrangement contains a lease at inception. Lease assets and liabilities are recognized upon commencement of the lease based on the present value of the future minimum lease payments over the lease term. The lease term includes options to extend the lease when it is reasonably certain that the Company will exercise that option. Substantially all of the leases are long-term operating leases for facilities with fixed payment terms between 1.5 and 12.8 years.

The table below presents supplemental information related to operating leases:

Six Months Ended June 30, 2020
Operating cash flows for operating leases	$	1,349,213
Noncash lease liabilities arising from obtaining operating leased assets during the period	$	16,617,790
Weighted-average remaining lease term		11.13 years
Weighted-average discount rate		13.46	%

The Company generally utilizes its incremental borrowing rate based on information available at the commencement of the lease in determining the present value of future payments since the implicit rate for most of the Company’s leases is not readily determinable.

Variable lease expense includes rental increases that are not fixed, such as those based on amounts paid to the lessor based on cost or consumption, such as maintenance and utilities.

Operating lease costs recognized for the three months ended June 30, 2020 and 2019 were $1,062,181 and $130,951, respectively. Operating lease costs for the six months ended June 30, 2020 and 2019 were $2,100,085 and $261,903, respectively.

Maturities of operating lease liabilities as of June 30, 2020 are summarized as follows:

Years Ending December 31,
2020 (remaining six months of the year)	$	1,839,773
2021		3,804,853
2022		3,525,158
2023		3,528,696
2024		3,526,406
Thereafter		27,563,572
Minimum lease payments		43,788,458
Less imputed interest		(22,362,451	)
Present value of operating lease liabilities	$	21,426,007
Current portion of operating lease liabilities	$	1,506,992
Long-term portion of operating lease liabilities		19,919,015
Total operating lease liabilities	$	21,426,007

Future minimum lease payments under operating leases as of December 31, 2019, were as follows:

			Payments due by Year
	Total		2020		2021		2022		2023		2024		Thereafter
Operating leases	$	6,132,252	$	2,579,924	$	685,111	$	472,084	$	486,247	$	500,834	$	1,408,052

Further details as of the date these condensed consolidated financial statements were issued or were available to be issued are provided under the heading Leases in Note 13).

Line of Credit

6 Months Ended

Jun. 30, 2020

Line of Credit Facility [Abstract]

Line of Credit

5. Line of Credit

FastPay Credit Facility – On February 27, 2020, the Company entered into a financing and security agreement with FPP Finance LLC (“FastPay”), pursuant to which FastPay extended a $15,000,000 line of credit for working capital purposes secured by a first lien on all of the Company’s cash and accounts receivable and a second lien on all other assets. Borrowings under the facility bear interest at the LIBOR Rate plus 8.50% and have a final maturity of February 6, 2022. The balance outstanding as of June 30, 2020 was $3,243,882. As of the date these condensed consolidated financial statements were issued or were available to be issued the balance outstanding was approximately $4.9 million.

SallyPort Credit Facility – During November 2018, the Company entered into a factoring note agreement with Sallyport Commercial Finance, LLC (“Sallyport”) to increase working capital through accounts receivable factoring. As of December 31, 2019, Sallyport collected accounts receivable in excess of the balance outstanding under the note, therefore, the Company was due $626,532 from Sallyport which was reflected within accounts receivable on the condensed consolidated balance sheet. Effective January 30, 2020, the Company’s factoring facility with Sallyport was closed and funds were no longer available for advance.

Fair Value Measurements

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

6. Fair Value Measurements

The Company estimates the fair value of financial instruments using available market information and valuation methodologies the Company believes to be appropriate for these purposes. Considerable judgment and a high degree of subjectivity are involved in developing these estimates and, accordingly, they are not necessarily indicative of amounts the Company would realize upon disposition.

The fair value hierarchy consists of three broad levels of inputs that may be used to measure fair value, which are described below:

	●	Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities;
	●	Level 2 Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and
	●	Level 3 Assets or liabilities for which fair value is based on valuation models with significant unobservable pricing inputs and which result in the use of management estimates.

The Company accounts for certain warrants (as described under the heading Common Stock Warrants in Note 9) and the embedded conversion features of the 12% senior convertible debentures (the “12% Convertible Debentures”) as derivative liabilities, which required the Company to carry such amounts on its condensed consolidated balance sheets as a liability at fair value, as adjusted at each reporting period-end.

These warrants and the embedded conversion features are classified as Level 3 within the fair-value hierarchy. Inputs to the valuation model include the Company’s publicly quoted stock price, the stock volatility, the risk-free interest rate, the remaining life of the warrants, notes and debentures, the exercise price or conversion price, and the dividend rate. The Company uses the closing stock price of its common stock over an appropriate period of time to compute stock volatility.

Warrant Derivative Liabilities

The following table presents the assumptions used for the warrant derivative liabilities under the Black-Scholes option-pricing model:

	As of June 30, 2020						As of December 31, 2019
	Strome Warrants			B. Riley Warrants			Strome Warrants			B. Riley Warrants
Expected life		2.96			5.30			3.45			5.80
Risk-free interest rate		0.18	%		0.29	%		1.62	%		1.76	%
Volatility factor		138.50	%		135.13	%		144.54	%		127.63	%
Dividend rate		0	%		0	%		0	%		0	%
Transaction date closing market price	$	0.65		$	0.65		$	0.80		$	0.80
Exercise price	$	0.50		$	1.00		$	0.50		$	1.00

The following table represents the carrying amounts and change in valuation for the Company’s warrants accounted for as a derivative liability and classified within Level 3 of the fair-value hierarchy:

	As of and for the Six Months Ended June 30, 2020							As of and for the Six Months Ended June 30, 2019
	Carry Amount at Beginning of Period		Change in Valuation			Carrying Amount at End of Period		Carry Amount at Beginning of Period		Change in Valuation		Carrying Amount at End of Period
L2 Warrants	$	-	$	-		$	-	$	418,214	$	173,181	$	591,395
Strome Warrants		1,036,687		(260,345	)		776,342		587,971		243,464		831,435
B. Riley Warrants		607,513		(122,150	)		485,363		358,050		125,125		483,175
Total	$	1,644,200	$	(382,495	)	$	1,261,705	$	1,364,235	$	541,770	$	1,906,005

For the three months ended June 30, 2020 and 2019, the change in valuation of warrant derivative liabilities recognized as other income (expense) on the condensed consolidated statements of operations was $243,276 and ($166,075), respectively. For the six months ended June 30, 2020 and 2019, the change in valuation of warrant derivative liabilities recognized as other income (expense) on the condensed consolidated statements of operations, as described in the above table, was $382,495 and ($541,770), respectively.

Embedded Derivative Liabilities

The carrying amount for the conversion option features, buy-in features, and default remedy features under the 12% Convertible Debentures accounted for as embedded derivative liabilities and classified within Level 3 of the fair-value hierarchy were $8,958,000 and $13,501,000 as of June 30, 2020 and December 31, 2019, respectively.

For the three months ended June 30, 2020 and 2019, the change in valuation of embedded derivative liabilities recognized as other income (expense) on the condensed consolidated statements of operations was $2,922,000 and ($1,396,000), respectively. For the six months ended June 30, 2020 and 2019, the change in valuation of embedded derivative liabilities recognized as other income (expense) on the condensed consolidated statements of operations was $4,543,000 and ($3,779,000), respectively.

- Definition

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.

+ References + Details

Convertible Debt

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Convertible Debt

7. Convertible Debt

12% Convertible Debentures

During 2018 and 2019, the Company had various financings through the issuance of the 12% Convertible Debentures which were due and payable on December 31, 2020. Interest accrued at the rate of 12% per annum, payable on the earlier of conversion or December 31, 2020. The Company’s obligations under the 12% Convertible Debentures are secured by a security agreement, dated as of October 18, 2018, by and among the Company and each investor thereto. The 12% Convertible Debentures were subject to the Company receiving stockholder approval to increase its authorized shares of common stock before conversion. Principal on the 12% Convertible Debentures were convertible into shares of the Company’s common stock, at the option of the investor at any time prior to December 31, 2020, at either a per share conversion price of $0.33 (with respect to the 12% Convertible Debentures issued in 2018) or $0.40 (with respect to the 12% Convertible Debentures issued in 2019), subject to adjustment for stock splits, stock dividends and similar transactions, and certain beneficial ownership blocker provisions.

The 12% Convertible Debentures were issued and convertible into shares of the Company’s common stock as follows: (1) gross proceeds of $13,091,528 on December 12, 2018, convertible into 39,671,297 shares; (2) gross proceeds of $1,696,000 on March 18, 2019, convertible into 4,240,000 shares; (3) gross proceeds of $318,000 on March 27, 2019, convertible into 795,000 shares; and (4) gross proceeds of $100,000 on April 8, 2019, convertible into 250,000 shares. Upon issuance of the various financings, the Company accounted for the embedded conversion option feature, buy-in feature, and default remedy feature as embedded derivative liabilities, which required the Company to carry such amount on its condensed consolidated balance sheets as a liability at fair value, as adjusted at each period-end (see Note 6). The Company also incurred additional debt issuance cost. The embedded derivative liabilities and debt issuance cost were treated as a debt discount and amortized over the term of the debt.

The following table summarizes the convertible debt:

	As of June 30, 2020							As of December 31, 2019
	Principal Balance (including accrued interest)		Unamortized Discount and Debt Issuance Costs			Carrying Value		Principal Balance (including accrued interest)		Unamortized Discount and Debt Issuance Costs			Carrying Value
12% Convertible Debentures, due on December 31, 2020	$	18,146,745	$	(1,996,821	)	$	16,149,924	$	17,119,571	$	(3,880,609	)	$	13,238,962

As of December 31, 2020, there was no longer any principal or accrued but unpaid interest outstanding under the 12% Convertible Debentures. Certain holders converted the debt into shares of the Company’s common stock and certain holders were paid in cash (further details are provided under the heading 12% Convertible Debentures in Note 13).

Long-term Debt

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Long-term Debt

8. Long-term Debt

12% Second Amended Senior Secured Note

Below is a summary of the various amended and restated notes, as well as various amendments thereto, to the 12% senior secured note that was originally issued on June 10, 2019, for gross proceeds of $20,000,000, due July 31, 2019. The transactions leading up to the 12% second amended and restated note that is outstanding as of June 30, 2020 consisted of:

	●	Amended and restated note issued on June 14, 2019, where the Company received gross proceeds of $48,000,000, together with the $20,000,000 gross proceeds received on June 10, 2019 for total gross proceeds of $68,000,000, due June 14, 2022;

	●	First amendment to the amended and restated note issued on August 27, 2019, where the Company received gross proceeds of $3,000,000;

	●	Second amendment to the amended and restated note issued on February 27, 2020, where the Company issued a $3,000,000 letter of credit to the Company’s landlord for leased premises; and

	●	Second amended and restated note issued on March 24, 2020, where the Company was permitted to enter into a 15.0% delayed draw term note, in the aggregate principal amount of $12,000,000.

Collectively the amended and restated notes and amendments thereto are referred to as the 12% Second Amended Senior Secured Note, with all borrowings collateralized by substantially all assets of the Company. Pursuant to the 12% Second Amended Senior Secured Note, interest on amounts outstanding with respect to (i) interest that was payable on March 31, 2020 and June 30, 2020, and (ii) at the Company’s option, with the consent of requisite purchasers, interest that was payable on September 30, 2020 and December 31, 2020, in lieu of the payment in cash of all or any portion of the interest due on such dates, would be payable in-kind in arrears on the last day of such applicable fiscal quarter (further details as of the date these condensed consolidated financial statements were issued or were available to be issued are provided under the heading 12% Second Amended Senior Secured Note in Note 13).

Delayed Draw Term Note

On March 24, 2020, the Company entered into a 15% delayed draw term note (the “Delayed Draw Term Note”) pursuant to the second amended and restated note purchase agreement, in the aggregate principal amount of $12,000,000.

On March 24, 2020, the Company drew down $6,913,865 under the Delayed Draw Term Note, and after payment of commitment and funding fees paid of $793,109, and other of its legal fees and expenses that were incurred, the Company received net proceeds of $6,000,000. The net proceeds were used for working capital and general corporate purposes. Additional borrowings under the Delayed Draw Term Note requested by the Company may be made at the option of the purchasers, subject to certain conditions. Up to $8,000,000 in principal amount under the note was originally due on March 31, 2021. Interest on amounts outstanding under the note was payable in-kind in arrears on the last day of each fiscal quarter (further details as of the date these condensed consolidated financial statements were issued or were available to be issued are provided under the heading Delayed Draw Term Note in Note 13).

Payroll Protection Program Loan

On April 6, 2020, the Company entered into a note agreement with JPMorgan Chase Bank, N.A. under the recently enacted Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) administered by the U.S. Small Business Administration (“SBA”) in the principal amount of $5,702,725 pursuant to Title 1 of the CARES Act (the “PPP Loan”).

The PPP Loan proceeds were used to pay for payroll costs, including salaries, commissions, and similar compensation, group health care benefits, and paid leaves; rent; utilities; and interest on certain other outstanding debt. The amount that will be forgiven will be calculated in part with reference to the Company’s full time headcount during the 24 week period following the funding of the PPP Loan.

The note is scheduled to mature on April 6, 2022. The interest rate on the note is a fixed rate of 0.98% per annum. To the extent that the amounts owed under the PPP Loan, or a portion of them, are not forgiven, the Company will be required to make principal and interest payments in monthly installments.

The following table summarizes the long-term debt:

	As of June 30, 2020							As of December 31, 2019
	Principal Balance (including accrued interest)		Unamortized Discount and Debt Issuance Costs			Carrying Value		Principal Balance (including accrued interest)		Unamortized Discount and Debt Issuance Costs			Carrying Value
12% Second Amended Senior Secured Note, as amended, due on December 31, 2022	$	52,995,840	$	(4,718,958	)	$	48,276,882	$	49,921,345	$	(5,911,600	)	$	44,009,745
Delayed Draw Term Note, as amended, due on March 31, 2022		7,193,956		(783,313	)		6,410,643		-		-			-
Payroll Protection Program Loan, scheduled to mature on April 6, 2022		5,702,725		-			5,702,725		-		-			-
Total	$	65,892,521	$	(5,502,271	)	$	60,390,250	$	49,921,345	$	(5,911,600	)	$	44,009,745

Stockholders' Equity

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Stockholders' Equity

9. Stockholders’ Equity

Common Stock

The Company has the authority to issue 1,000,000,000 shares of common stock, $0.01 par value per share (further details as of the date these condensed consolidated financial statements were issued or were available to be issued are provided under the heading Amendment to Certificate of Incorporation in Note 13).

Common Stock Warrants

The Company issued warrants to purchase shares of the Company’s common stock to MDB Capital Group, LLC (the “MDB Warrants”), L2 Capital, LLC (the “L2 Warrants”), Strome Mezzanine Fund LP (the “Strome Warrants”), and B. Riley Financial, Inc. (the “B. Riley Warrants”) in connection with various financing transactions (collectively, the “Financing Warrants”).

The Financing Warrants outstanding and exercisable as of June 30, 2020 are summarized as follows:

				Outstanding
	Exercise Price		Expiration Date	Classified as Derivative Liabilities (Shares)		Classified within Stockholders’ Equity (Shares)		Total Exercisable (Shares)
MDB Warrants	$	0.20	November 4, 2021		-		327,490		327,490
Strome Warrants		0.50	June 15, 2023		1,500,000		-		1,500,000
B. Riley Warrants		1.00	October 18, 2025		875,000		-		875,000
MDB Warrants		1.15	October 19, 2022		-		119,565		119,565
MDB Warrants		2.50	October 19, 2022		-		60,000		60,000
Total outstanding and exercisable					2,375,000		507,055		2,882,055

The intrinsic value of exercisable but unexercised in-the-money stock warrants as of June 30, 2020 was $372,371, based on a fair market value of the Company’s common stock of $0.65 per share on June 30, 2020.

Compensation Plans

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Compensation Plans

10. Compensation Plans

The Company provides stock-based compensation in the form of (a) stock awards to employees and directors, comprised of restricted stock awards and restricted stock units (collectively referred to as the “Restricted Stock Awards”), (b) stock option grants to employees directors and consultants (referred to as the “Common Stock Awards”) (c) stock option awards, restricted stock awards, unrestricted stock awards, and stock appreciation rights to employees, directors and consultants (collectively the “Common Equity Awards”), (d) stock option awards outside the 2016 Stock Incentive Plan and 2019 Equity Incentive Plan to certain officers, directors and employees (referred to as the “Outside Options”), (e) common stock warrants to the Company’s channel partners (referred to as the “Channel Partner Warrants”), and (f) common stock warrants to ABG-SI, LLC (referred to as the “ABG Warrants”).

Stock-based compensation and equity-based expense charged to operations or capitalized during the three months and six months ended June 30, 2020 and 2019 are summarized as follows:

	Restricted		Common		Common				Channel
	Stock		Stock		Equity		Outside		Partner		ABG
	Awards		Awards		Awards		Options		Warrants		Warrants		Totals
During the Three Months Ended June 30, 2020
Cost of revenue	$	35,750	$	27,970	$	1,073,674	$	1,967	$	27,623	$	-	$	1,166,984
Selling and marketing		298,187		23,783		701,925		43,489		-		-		1,067,384
General and administrative		135,332		138,156		819,916		95,394		-		360,289		1,549,087
Total costs charged to operations		469,269		189,909		2,595,515		140,850		27,623		360,289		3,783,455
Capitalized platform development		75,709		80,608		341,642		1,652		-		-		499,611
Total stock-based compensation	$	544,978	$	270,517	$	2,937,157	$	142,502	$	27,623	$	360,289	$	4,283,066

During the Three Months Ended June 30, 2019
Cost of revenue	$	26,526	$	6,965	$	131,057	$	149	$	6,561	$	-	$	171,258
Selling and marketing		-		25,995		120,036		25,305		-		-		171,336
General and administrative		859,222		395,087		931,393		44,695		-		67,307		2,297,704
Total costs charged to operations		885,748		428,047		1,182,486		70,149		6,561		67,307		2,640,298
Capitalized platform development		194,353		42,793		165,030		2,146		-		-		404,322
Total stock-based compensation	$	1,080,101		470,840	$	1,347,516	$	72,295	$	6,561	$	67,307	$	3,044,620

During the Six Months Ended June 30, 2020
Cost of revenue	$	73,326	$	97,766	$	2,083,266	$	3,173	$	35,662	$	-	$	2,293,193
Selling and marketing		597,402		59,511		1,380,204		98,867		-		-		2,135,984
General and administrative		158,252		309,828		1,575,163		150,577		-		720,578		2,914,398
Total costs charged to operations		828,980		467,105		5,038,633		252,617		35,662		720,578		7,343,575
Capitalized platform development		145,992		121,765		597,643		4,263		-		-		869,663
Total stock-based compensation	$	974,972	$	588,870	$	5,636,276	$	256,880	$	35,662	$	720,578	$	8,213,238

During the Six Months Ended June 30, 2019
Cost of revenue	$	61,901	$	27,184	$	131,057	$	1,278	$	18,909	$	-	$	240,329
Selling and marketing		34,393		47,940		120,036		77,251		-		-		279,620
General and administrative		1,574,859		799,517		932,285		66,008		-		67,307		3,439,976
Total costs charged to operations		1,671,153		874,641		1,183,378		144,537		18,909		67,307		3,959,925
Capitalized platform development		332,309		72,785		165,030		2,146		-		-		572,270
Total stock-based compensation	$	2,003,462		947,426	$	1,348,408	$	146,683	$	18,909	$	67,307	$	4,532,195

Unrecognized compensation expense related to the stock-based compensation awards and equity-based awards as of June 30, 2020 was as follows:

	Restricted Stock Awards		Common Stock Awards		Common Equity Awards		Outside Options		Channel Partner Warrants		ABG Warrants		Totals
Unrecognized compensation expense	$	902,489	$	1,230,827	$	26,166,996	$	464,309	$	1,011	$	3,942,598	$	32,708,230
Weighted average period expected to be recognized (in years)		0.69		0.87		2.27		1.68		0.25		2.88		2.24

Revenue Recognition

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue Recognition

11. Revenue Recognition

Disaggregation of Revenue

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Revenue by product line:
Advertising	$	7,541,616	$	5,670,712	$	19,379,600	$	11,808,066
Digital subscriptions		6,089,450		56,021		11,626,697		107,934
Magazine circulation		8,629,166		-		21,166,698		-
Other		830,708		43,550		1,330,798		128,246
Total	$	23,090,940	$	5,770,283	$	53,503,793	$	12,044,246
Revenue by geographical market:
United States	$	22,049,636	$	5,770,283	$	51,331,766	$	12,044,246
Other		1,041,304		-		2,172,027		-
Total	$	23,090,940	$	5,770,283	$	53,503,793	$	12,044,246
Revenue by timing of recognition:
At point in time	$	17,001,490	$	5,714,262	$	41,877,096	$	11,936,312
Over time		6,089,450		56,021		11,626,697		107,934
Total	$	23,090,940	$	5,770,283	$	53,503,793	$	12,044,246

Contract Balances

The timing of the Company’s performance under its various contracts often differs from the timing of the customer’s payment, which results in the recognition of a contract asset or a contract liability. A contract asset is recognized when a good or service is transferred to a customer and the Company does not have the contractual right to bill for the related performance obligations. A contract liability is recognized when consideration is received from the customer prior to the transfer of goods or services.

The following table provides information about contract balances:

	As of
	June 30, 2020		December 31, 2019
Unearned revenue (short-term contract liabilities):
Digital subscriptions		12,688,136		8,634,939
Magazine circulation		42,731,290		23,528,148
	$	55,419,426	$	32,163,087
Unearned revenue (long-term contract liabilities):
Digital subscriptions	$	1,473,758	$	478,557
Magazine circulation		13,135,330		30,478,154
Other		207,500		222,500
	$	14,816,588	$	31,179,211

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 magazine circulation revenue of $17,211,363 was recognized during the six months ended June 30, 2020 from unearned revenue at the beginning of the year.

During January and February of 2020, the Company modified certain digital and magazine subscription contracts that prospectively changed the frequency of the related issues required to be delivered on a yearly basis. The Company determined that the remaining digital content and magazines to be delivered are distinct from the digital content or magazines already provided under the original contract. As a result, the Company in effect established a new contract that included only the remaining digital content or magazines. Accordingly, the Company allocated the remaining performance obligations in the contracts as consideration from the original contract that has not yet been recognized as revenue.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Commitments and Contingencies

6 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

12. Commitments and Contingencies

Revenue Guarantees

On a select basis, the Company has provided revenue share guarantees to certain independent publishers that transition their publishing operations from another platform to theMaven.net or maven.io. These arrangements generally guarantee the publisher a monthly amount of income for a period of 12 to 24 months from inception of the publisher contract that is the greater of (a) a fixed monthly minimum, or (b) the calculated earned revenue share. For the three months ended June 30, 2020 and 2019, the Company recognized Channel Partner guarantees of $2,628,477 and $1,115,640, respectively. For the six months ended June 30, 2020 and 2019, the Company recognized Channel Partner guarantees of $5,002,564 and $2,370,632, respectively.

Claims and Litigation

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

Liquidated Damages

The following table summarizes the contingent obligations with respect to the Series J Preferred Stock liquidated damages as of the date these condensed consolidated financial statements were issued or were available to be issued:

Registration rights damages	$	120,000
Public information failure damages		180,000
Accrued interest		19,903
	$	319,903

Subsequent Events

6 Months Ended

Jun. 30, 2020

Subsequent Events [Abstract]

Subsequent Events

13. Subsequent Events

The Company performed an evaluation of subsequent events through the date of filing of these condensed consolidated financial statements with the SEC. Other than the below described subsequent events, there were no material subsequent events which affected, or could affect, the amounts or disclosures on the condensed consolidated financial statements.

Compensation Plans

On December 15, 2020, the Company entered into an amendment for certain restricted stock awards and restricted stock units. Pursuant to the amendment:

	●	the restricted stock awards would cease to vest and all unvested shares would be deemed unvested and forfeited, leaving an aggregate of 1,064,549 shares vested;

	●	the restricted stock units were modified to vest on December 31, 2020 and as of the close of business on December 31, 2020, each restricted stock unit was terminated and deemed forfeited, with no shares vesting thereunder; and

	●	subject to certain conditions, the Company agreed to purchase from certain key personnel the vested restricted stock awards, at a price of $4.00 per share in 24 equal monthly installments on the second business day of each calendar month beginning on January 4, 2021.

On January 8, 2021, the board of directors (the “Board”) approved an amendment to certain option awards granted under the 2019 Equity Incentive Plan (the “2019 Plan”) to remove certain vesting conditions for the performance-based awards. In general, pursuant to the amendment:

	●	the common stock options would vest with respect to one-third of the grant when the option holder completes one year of continuous service beginning on the grant date; and

	●	the remaining common stock options would vest monthly over twenty-four months when the option holder completes each month of continuous service thereafter.

On February 18, 2021, the Board approved an amendment to the Company’s 2019 Plan to increase the number of shares of the Company’s common stock, available for issuance under the 2019 Plan from 85,000,000 shares to 185,000,000 shares.

On February 18, 2021, the Board approved up to an aggregate amount of 26,200,000 stock options to be made on or before March 18, 2021 for shares of the Company’s common stock to certain executive officers of the Company under the 2019 Plan. A total of 11,158,049 stock options were granted and designated as a non-qualified stock options, subject to certain terms and conditions.

On February 18, 2021, the Board approved the issuance of restricted stock units to certain executive officers of the Company under the 2019 Plan. A total of 26,048,781 restricted stock units were granted, subject to certain terms and conditions.

From July 2020 through the date these condensed consolidated financial statements were issued or were available to be issued, the Company granted common stock options, restricted stock units and restricted stock awards totaling 77,157,799 (includes 11,158,049 stock options and 26,048,781 restricted stock units issued on February 28, 2021 as described above), of which 77,157,799 remain outstanding.

12% Convertible Debentures

On December 31, 2020, certain holders converted the 12% Convertible Debentures representing an aggregate of $18,104,949 of the then-outstanding principal and accrued but unpaid interest into 53,887,470 shares of the Company’s common stock at effective conversion per-share prices ranging from $0.33 to $0.40. Further, the Company repaid an aggregate of $1,130,903 of the 12% Convertible Debentures, including the then-outstanding principal and accrued interest in cash. As of December 31, 2020, there was no longer any principal or accrued but unpaid interest outstanding under the 12% Convertible Debentures. As a result of the conversion of certain 12% Convertible Debentures into shares of the Company’s common stock, the Company will no longer have an embedded derivative liability related to the conversion option features, buy-in features, and default remedy features and will recognize the fair value of such amount upon conversion as additional paid-in capital. Further, with respect to the conversion of the accrued interest into shares of the Company’s common stock, the Company will recognize a loss on conversion, as deemed appropriate, at the time of conversion.

12% Second Amended Senior Secured Note

On October 23, 2020, the Company entered into Amendment No. 1 to the second amended and restated note purchase agreement (“Amendment 1”), pursuant to which the maturity date of the 12% Second Amended Senior Secured Notes was changed to December 31, 2022, subject to certain acceleration conditions. Pursuant to Amendment 1, interest payable on the 12% Second Amended Senior Secured Notes on September 30, 2020, December 31, 2020, March 31, 2021, June 30, 2021, September 30, 2021, and December 31, 2021 will be payable in-kind in arrears on the last day of such fiscal quarter. Alternatively, at the option of the holder, such interest amounts originally could have been paid in shares of “Series K Convertible Preferred Stock” (“Series K Preferred Stock”); however, after December 18, 2020, the date the Series K Preferred Stock converted into shares of the Company’s common stock, all such interest amounts can be paid in shares of the Company’s common stock based upon the conversion rate specified for the Series K Preferred Stock (or $0.40).

The balance outstanding under the 12% Second Amended Senior Secured Note as of the date these condensed consolidated financial statements were issued or were available to be issued was approximately $56.3 million, which included outstanding principal of approximately $48.8 million, payment of in-kind interest of approximately $4.2 million that the Company was permitted to add to the aggregate outstanding principal balance, and unpaid accrued interest of approximately $3.3 million.

Delayed Draw Term Note

On October 23, 2020, pursuant to the terms of Amendment 1, the maturity date of the Delayed Draw Term Note was changed from March 31, 2021 to March 31, 2022. Amendment 1 also provided that the holder, could originally elect, in lieu of receipt of cash for payment of all or any portion of the interest due or cash payments up to a certain conversion portion (as further described in Amendment 1) of the Delayed Draw Term Note, to receive shares of Series K Preferred Stock; however, after December 18, 2020, the date the Series K Preferred Stock converted into shares of the Company’s common stock, the holder may elect, in lieu of receipt of cash for such amounts, shares of the Company’s common stock based upon the conversion rate specified for the Series K Preferred Stock (or $0.40).

As of the date these condensed consolidated financial statements were issued or were available to be issued, $3,367,000, including $3,295,505 of principal amount of the Delayed Draw Term Note and $71,495 of accrued interest, had been converted into shares of our Series K Preferred Stock. The aggregate principal amount outstanding under the Delayed Draw Term Note as of the date these condensed consolidated financial statements were issued or were available to be issued was approximately $4.3 million (including payment of in-kind interest of approximately $0.7 million, which was added to the outstanding Delayed Draw Term Note balance).

Preferred Stock

Series H Preferred Stock – Between August 14, 2020 and August 20, 2020, the Company entered into additional securities purchase agreements for the sale of “Series H Convertible Preferred Stock” (“Series H Preferred Stock”) with accredited investors, pursuant to which the Company issued 108 shares (after it rescinded the issuance of 2,145 shares that were deemed null and void and the purchase price was repaid to certain holders on October 28, 2020), at a stated value of $1,000 per share, which shares were initially convertible into 327,273 shares of the Company’s common stock at a conversion rate equal to the stated value divided by the conversion price of $0.33 per share, for aggregate gross proceeds of $130,896. The proceeds were used for working capital and general corporate purposes. The number of shares issuable upon conversion of the Series H Preferred Stock will be adjusted in the event of stock splits, stock dividends, combinations of shares and similar transactions. Each Series H Preferred Stock shall vote on an as-if-converted to common stock basis, subject to beneficial ownership blocker provisions and other certain conditions.

On September 21, 2020, an investor converted 300 shares of Series H Preferred Stock into 909,090 shares of the Company’s common stock.

On October 31, 2020, the Company issued 389 shares of Series H Preferred Stock to James Heckman at the stated value of $1,000, convertible into 1,178,787 shares of the Company’s common stock, at the option of the holder subject to certain limitations at a conversion rate equal to the stated value divided by the conversion price of $0.33 per share. The shares of Series H Preferred Stock were issued in connection with the cancellation of promissory notes payable to Mr. Heckman in the aggregate outstanding principal amount of $389,000.

The shares of Series H Preferred Stock were subject to limitations on conversion into shares of the Company’s common stock until the date an amendment to the Company’s Restated Certificate of Incorporation, as amended (the “Certificate of Incorporation”), was filed and accepted with the State of Delaware that increases the number of authorized shares of its common stock to at least a number permitting all the Series H Preferred Stock to be converted in full (further details are provided under the heading Amendment to Certificate of Incorporation).

The securities purchase agreements also included a provision that requires the Company to maintain its periodic filings with the SEC in order to satisfy the public information requirements under Rule 144(c) of the Securities Act. If the Company fails for any reason to satisfy the current public information requirement commencing from the six (6) month anniversary date of issuance of the Series H Preferred Shares, then the Company will be obligated to pay Public Information Failure Damages (as further described in Note 14 to the audited consolidated financial statements for the year ended December 31, 2019) to each holder, consisting of a cash payment equal to 1% of the amount invested as partial liquidated damages, up to a maximum of six months, subject to interest at the rate of 1% per month until paid in full.

Series J Preferred Stock – On September 4, 2020, the Company closed on an additional “Series J Convertible Preferred Stock” (“Series J Preferred Stock”) issuance with two accredited investors, pursuant to which we issued an aggregate of 10,500 shares of Series J Preferred Stock at a stated value of $1,000 per share, initially convertible into 15,013,072 shares of our common stock at a conversion rate equal to the stated value divided by the conversion price of $0.70, for aggregate gross proceeds of $6,000,000, which was used for working capital and general corporate purposes. The number of shares issuable upon conversion of the Series J Preferred Stock will be adjusted in the event of stock splits, stock dividends, combinations of shares and similar transactions. Each share of Series J Convertible Preferred Stock shall vote on an as-if-converted to common stock basis, subject to certain conditions.

All of the shares of the Series J Preferred Stock converted automatically into shares of the Company’s common stock on December 18, 2020, the date the Company filed a Certificate of Amendment (the “Certificate of Amendment”) to the Certificate of Incorporation, which Certificate of Amendment increased the number of authorized shares of the Company’s common stock to at least a number that permitted all the Series J Preferred Stock, the “Series K Convertible Preferred Stock” (the “Series K Preferred Stock”), the “Series I Convertible Preferred Stock” (“Series I Preferred Stock”), and the Series H Preferred Stock, to be converted in full (further details are provided under the heading Amendment to Certificate of Incorporation).

Pursuant to a registration rights agreement entered into in connection with the securities purchase agreements, the Company agreed to register the shares issuable upon conversion of the Series J Preferred Stock for resale by the investors. The Company committed to file the registration statement by no later than the 30th calendar day following the date the Company files its (a) Annual Reports on Form 10-K for the fiscal year ended December 31, 2018 and December 31, 2019, (b) all its required Quarterly Reports on Form 10-Q since the quarter ended September 30, 2018, through the quarter ended September 30, 2020, and (c) any Form 8-K Reports that the Company is required to file with the SEC; but in no event later than April 30, 2021 (the “Series J Filing Date”). The Company also committed to cause the registration statement to become effective by no later than 60 days after the Series J Filing Date (or, in the event of a full review by the staff of the SEC, 120 days following the Series J Filing Date). The registration rights agreement provides for Registration Rights Damages (as further described in Note 14 to the audited consolidated financial statements for the year ended December 31, 2019) upon the occurrence of certain events up to a maximum amount of 6% of the aggregate amount invested.

The securities purchase agreements also included a provision that requires the Company to maintain its periodic filings with the SEC in order to satisfy the public information requirements under Rule 144(c) of the Securities Act. If the Company fails for any reason to satisfy the current public information commencing from the six (6) month anniversary date of issuance of the Series J Preferred Shares, then the Company will be obligated to pay Public Information Failure Damages (as further described in Note 14 to the audited consolidated financial statements for the year ended December 31, 2019) to each holder, consisting of a cash payment equal to 1% of the amount invested as partial liquidated damages, up to a maximum of six months, subject to interest at the rate of 1% per month until paid in full.

Series K Preferred Stock – On October 22, 2020, 20,000 authorized shares of the Company’s preferred stock were designated the Series K Preferred Stock. Between October 23, 2020 and November 11, 2020, the Company closed on several securities purchase agreements with accredited investors, pursuant to which the Company issued an aggregate of 18,042 shares of Series K Preferred Stock at a stated value of $1,000, initially convertible into 45,105,000 shares of the Company’s common stock at a conversion rate equal to the stated value divided by the conversion price of $0.40 per share, for aggregate gross proceeds of $18,042,000. The number of shares issuable upon conversion of the Series K Preferred Stock will be adjusted in the event of stock splits, stock dividends, combinations of shares and similar transactions. Each Series K Preferred Stock votes on an as-if-converted to common stock basis, subject to certain conditions.

In consideration for its services as placement agent, the Company paid B. Riley FBR, Inc. (“B. Riley FBR”) a cash fee of $560,500. The Company used approximately $3.4 million of the net proceeds from the financing to partially repay the Delayed Draw Term Note and used approximately $2.6 million for payment on a prior investment, with the remainder of approximately $11.5 million for working capital and general corporate purposes.

All of the shares of the Series K Preferred Stock converted automatically into shares of the Company’s common stock on December 18, 2020, the date the Company filed a the Certificate of Amendment to the Certificate of Incorporation, which Certificate of Amendment increased the number of authorized shares of the Company’s common stock to at least a number that permitted all the Series J Preferred Stock, the Series K Preferred Stock, the Series I Preferred Stock, and the Series H Preferred Stock, to be converted in full (further details are provided under the heading Amendment to Certificate of Incorporation).

Pursuant to a registration rights agreement entered into in connection with the securities purchase agreements, the Company agreed to register the shares issuable upon conversion of the Series K Preferred Stock for resale by the investors. The Company committed to file the registration statement by no later than the 30th calendar day following the date the Company files its (a) Annual Reports on Form 10-K for the fiscal year ended December 31, 2018 and December 31, 2019, (b) all its required Quarterly Reports on Form 10-Q since the quarter ended September 30, 2018, through the quarter ended September 30, 2020, and (c) any Form 8-K Reports that the Company is required to file with the SEC; provided, however, if such 30th calendar day is on or after February 12, 2021, then such 30th calendar date shall be tolled until the 30th calendar day following the date that the Company files its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 (the “Series K Filing Date”). The Company also committed to cause the registration statement to become effective by no later than 90 days after the Series K Filing Date (or, in the event of a full review by the staff of the SEC, 120 days following the Series K Filing Date). The registration rights agreement provides for Registration Rights Damages (as further described in Note 14 to the audited consolidated financial statements for the year ended December 31, 2019) upon the occurrence of certain events up to a maximum amount of 6% of the aggregate amount invested.

The securities purchase agreements also included a provision that requires the Company to maintain its periodic filings with the SEC in order to satisfy the public information requirements under Rule 144(c) of the Securities Act. If the Company fails for any reason to satisfy the current public information requirement commencing from the six (6) month anniversary date of issuance of the Series K Preferred Shares, then the Company will be obligated to pay Public Information Failure Damages (as further described in Note 14 to the audited consolidated financial statements for the year ended December 31, 2019) to each holder, consisting of a cash payment equal to 1% of the amount invested as partial liquidated damages, up to a maximum of six months, subject to interest at the rate of 1% per month until paid in full.

Series L Preferred Stock – On May 4, 2021, the Special Finance & Governance Committee (the “Special Committee”) of the Board of the Company adopted a Rights Agreement (i) to ensure that all stockholders of the Company receive fair and equal treatment in the event of a proposed takeover of the Company, (ii) to guard against two-tier or partial tender offers, open market accumulations, creeping stock accumulation programs and other tactics designed to gain control of the Company without paying all stockholders a fair and adequate price, including a sufficient premium for such controlling interest, (iii) to protect the Company and its stockholders from efforts to capitalize on market volatility and macroeconomic conditions to obtain control of the Company on terms that the Board determines are not in the best interests of the Company and its stockholders and (iv) to enhance the Board’s ability to negotiate with a prospective acquirer.

Also on May 4, 2021, the Special Committee declared a dividend of one preferred stock purchase right (each a “Right”) to be paid to the stockholders of record at the close of business on May 14, 2021 for (i) each outstanding share of the Company’s common stock and (ii) each share of the Company’s common stock issuable upon conversion of each share of the Company’s Series H Preferred Stock. Each Right entitles the registered holder to purchase, subject to the Rights Agreement, from the Company one one-thousandth of a share of the Company’s newly created Series L Junior Participating Preferred Stock, par value $0.01 per share (the “Series L Preferred Stock”), at a price of $4.00, subject to certain adjustments. The Series L Preferred Stock will be entitled, when, as and if declared, to a preferential per share quarterly dividend payment equal to the greater of (i) $1.00 per share or (ii) 1,000 times the aggregate per share amount of all cash dividends, and 1,000 times the aggregate per share amount (payable in kind) of all non-cash dividends or other distributions paid to the holders of the Company’s Common Stock. The Series L Preferred Stock will be entitled to 1,000 votes on all matters submitted to a vote of the stockholders of the Company. In the event of any merger, consolidation or other transaction in which shares of the Company’s common stock are converted or exchanged, the Series L Preferred Stock will be entitled to receive 1,000 times the amount received per one share of the Company’s common stock.

Leases

On October 30, 2020, the Company entered into a surrender agreement pursuant to which the Company effectively surrendered certain property located in New York, New York back to the landlord. Pursuant to the surrender agreement, the security deposit of $500,000 held by the landlord and reflected within restricted cash on the condensed consolidated balance sheets was applied to the balance in arrears. In addition, the Company agreed to pay $68,868 per month from January 1, 2021 through June 1, 2022 to satisfy the remaining outstanding balance of $1,239,624 owed to the landlord. The landlord agreed not to charge any late fees, interest charges, or other penalties relating to the surrender of the property.

Amendment to Certificate of Incorporation

On December 18, 2020, the Company filed a Certificate of Amendment to its Certificate of Incorporation to increase the number of authorized shares of its common stock from 100,000,000 shares to 1,000,000,000 shares. As a result, as of December 18, 2020, the Company has a sufficient number of authorized but unissued shares of its common stock available for issuance required under all of its securities that are convertible into shares of its common stock.

As a result of the increase in authorized and unissued shares of the Company’s common stock on December 18, 2020, all of the Series I Preferred Stock, Series J Preferred Stock (including shares issued subsequent to June 30, 2020 as described above) and Series K Preferred Stock (including shares issued subsequent to June 30, 2020 as described above), were converted into shares of the Company’s common stock, accordingly, the Company will recognize a beneficial conversion feature, as deemed appropriate, at the time of conversion.

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

Liquidity

Liquidity

Reclassifications

Reclassifications

Certain prior year amounts have been reclassified to conform to the fiscal 2020 presentation with no impact to previously reported earnings.

Use of Estimates

Use of Estimates

Contract Modifications

Contract Modifications

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

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

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

Recently Adopted Accounting Standards

Recently Adopted Accounting Standards

Loss Per Common Share

Loss per Common Share

	As of June 30,
	2020		2019
Series G Preferred Stock		188,791		188,791
Series H Preferred Stock		58,787,879		58,787,879
Series I Preferred Stock		46,200,000		46,200,000
Series J Preferred Stock		28,571,428		-
Indemnity shares of common stock		412,500		825,000
Restricted Stock Awards		1,433,332		3,574,997
Financing Warrants		2,882,055		3,949,018
ABG Warrants		21,989,844		-
Channel Partner Warrants		789,541		939,540
Restricted Stock Units		2,399,997		2,399,997
Common Stock Awards		8,033,936		9,047,892
Common Equity Awards		82,744,480		48,154,840
Outside Options		2,986,000		3,732,667
Total		257,419,783		177,800,621

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
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+ Details

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Schedule of Net Income (Loss) Per Common Share

	As of June 30,
	2020		2019
Series G Preferred Stock		188,791		188,791
Series H Preferred Stock		58,787,879		58,787,879
Series I Preferred Stock		46,200,000		46,200,000
Series J Preferred Stock		28,571,428		-
Indemnity shares of common stock		412,500		825,000
Restricted Stock Awards		1,433,332		3,574,997
Financing Warrants		2,882,055		3,949,018
ABG Warrants		21,989,844		-
Channel Partner Warrants		789,541		939,540
Restricted Stock Units		2,399,997		2,399,997
Common Stock Awards		8,033,936		9,047,892
Common Equity Awards		82,744,480		48,154,840
Outside Options		2,986,000		3,732,667
Total		257,419,783		177,800,621

Acquisitions (Tables)

6 Months Ended

Jun. 30, 2020

Business Combinations [Abstract]

Schedule of Preliminary Purchase Price

The composition of the preliminary purchase price is as follows:

Cash	$	315,289
Indemnity restricted stock units for shares of common stock		500,000
Total purchase consideration	$	815,289

Summary of Price Allocation for Acquisition

Accounts receivable	$	37,908
Developed technology		917,762
Accounts payable		(53,494	)
Unearned revenue		(86,887	)
Net assets acquired	$	815,289

Balance Sheet Components (Tables)

6 Months Ended

Jun. 30, 2020

Balance Sheet Components Tables Abstract

Summary of Platform Development Costs

Platform Development – Platform development costs are summarized as follows:

	As of
	June 30, 2020			December 31, 2019
Platform development	$	13,609,436		$	10,678,692
Less accumulated amortization		(6,744,631	)		(4,785,973	)
Net platform development	$	6,864,805		$	5,892,719

Summary of Platform Development Cost Activity

A summary of platform development activity for the six months ended June 30, 2020 and year ended December 31, 2019 is as follows:

	As of
	June 30, 2020		December 31, 2019
Platform development beginning of period	$	10,678,692	$	6,833,900
Payroll-based costs capitalized during the period		2,061,081		2,537,402
Total capitalized costs		12,739,773		9,371,302
Stock-based compensation		869,663		1,307,390
Platform development end of period	$	13,609,436	$	10,678,692

Schedule of Intangible Assets Subjects to Amortization

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

	As of June 30, 2020							As of December 31, 2019
	Carrying Amount		Accumulated Amortization			Net Carrying Amount		Carrying Amount		Accumulated Amortization			Net Carrying Amount
Developed technology	$	20,055,866	$	(6,391,034	)	$	13,664,832	$	19,138,104	$	(4,090,359	)	$	15,047,745
Noncompete agreement		480,000		(372,000	)		108,000		480,000		(252,000	)		228,000
Trade name		3,328,000		(364,042	)		2,963,958		3,328,000		(224,745	)		3,103,255
Subscriber relationships		73,458,799		(10,846,438	)		62,612,361		73,458,799		(3,587,837	)		69,870,962
Advertiser relationships		2,240,000		(213,577	)		2,026,423		2,240,000		(94,635	)		2,145,365
Database		1,140,000		(341,183	)		798,817		1,140,000		(151,183	)		988,817
Subtotal amortizable intangible assets		100,702,665		(18,528,274	)		82,174,391		99,784,903		(8,400,759	)		91,384,144
Website domain name		20,000		-			20,000		20,000		-			20,000
Total intangible assets	$	100,722,665	$	(18,528,274	)	$	82,194,391	$	99,804,903	$	(8,400,759	)	$	91,404,144

Leases (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Schedule of Supplemental Information Related to Operating Leases

The table below presents supplemental information related to operating leases:

Six Months Ended June 30, 2020
Operating cash flows for operating leases	$	1,349,213
Noncash lease liabilities arising from obtaining operating leased assets during the period	$	16,617,790
Weighted-average remaining lease term		11.13 years
Weighted-average discount rate		13.46	%

Summary of Maturity of Lease Liabilities

Maturities of operating lease liabilities as of June 30, 2020 are summarized as follows:

Years Ending December 31,
2020 (remaining six months of the year)	$	1,839,773
2021		3,804,853
2022		3,525,158
2023		3,528,696
2024		3,526,406
Thereafter		27,563,572
Minimum lease payments		43,788,458
Less imputed interest		(22,362,451	)
Present value of operating lease liabilities	$	21,426,007
Current portion of operating lease liabilities	$	1,506,992
Long-term portion of operating lease liabilities		19,919,015
Total operating lease liabilities	$	21,426,007

Schedule of Future Minimum Operating Lease Payments

Future minimum lease payments under operating leases as of December 31, 2019, were as follows:

			Payments due by Year
	Total		2020		2021		2022		2023		2024		Thereafter
Operating leases	$	6,132,252	$	2,579,924	$	685,111	$	472,084	$	486,247	$	500,834	$	1,408,052

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of Warrant Derivative Liabilities

The following table presents the assumptions used for the warrant derivative liabilities under the Black-Scholes option-pricing model:

	As of June 30, 2020						As of December 31, 2019
	Strome Warrants			B. Riley Warrants			Strome Warrants			B. Riley Warrants
Expected life		2.96			5.30			3.45			5.80
Risk-free interest rate		0.18	%		0.29	%		1.62	%		1.76	%
Volatility factor		138.50	%		135.13	%		144.54	%		127.63	%
Dividend rate		0	%		0	%		0	%		0	%
Transaction date closing market price	$	0.65		$	0.65		$	0.80		$	0.80
Exercise price	$	0.50		$	1.00		$	0.50		$	1.00

Schedule of Valuation Activity for Warrants Accounted for Derivative Liability

	As of and for the Six Months Ended June 30, 2020							As of and for the Six Months Ended June 30, 2019
	Carry Amount at Beginning of Period		Change in Valuation			Carrying Amount at End of Period		Carry Amount at Beginning of Period		Change in Valuation		Carrying Amount at End of Period
L2 Warrants	$	-	$	-		$	-	$	418,214	$	173,181	$	591,395
Strome Warrants		1,036,687		(260,345	)		776,342		587,971		243,464		831,435
B. Riley Warrants		607,513		(122,150	)		485,363		358,050		125,125		483,175
Total	$	1,644,200	$	(382,495	)	$	1,261,705	$	1,364,235	$	541,770	$	1,906,005

Convertible Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule of Convertible Debt

The following table summarizes the convertible debt:

	As of June 30, 2020							As of December 31, 2019
	Principal Balance (including accrued interest)		Unamortized Discount and Debt Issuance Costs			Carrying Value		Principal Balance (including accrued interest)		Unamortized Discount and Debt Issuance Costs			Carrying Value
12% Convertible Debentures, due on December 31, 2020	$	18,146,745	$	(1,996,821	)	$	16,149,924	$	17,119,571	$	(3,880,609	)	$	13,238,962

Long-term Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule of Long Term Debt

The following table summarizes the long-term debt:

	As of June 30, 2020							As of December 31, 2019
	Principal Balance (including accrued interest)		Unamortized Discount and Debt Issuance Costs			Carrying Value		Principal Balance (including accrued interest)		Unamortized Discount and Debt Issuance Costs			Carrying Value
12% Second Amended Senior Secured Note, as amended, due on December 31, 2022	$	52,995,840	$	(4,718,958	)	$	48,276,882	$	49,921,345	$	(5,911,600	)	$	44,009,745
Delayed Draw Term Note, as amended, due on March 31, 2022		7,193,956		(783,313	)		6,410,643		-		-			-
Payroll Protection Program Loan, scheduled to mature on April 6, 2022		5,702,725		-			5,702,725		-		-			-
Total	$	65,892,521	$	(5,502,271	)	$	60,390,250	$	49,921,345	$	(5,911,600	)	$	44,009,745

- Definition

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.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Schedule of Common Stock Financing Warrants Outstanding and Exercisable

The Financing Warrants outstanding and exercisable as of June 30, 2020 are summarized as follows:

				Outstanding
	Exercise Price		Expiration Date	Classified as Derivative Liabilities (Shares)		Classified within Stockholders’ Equity (Shares)		Total Exercisable (Shares)
MDB Warrants	$	0.20	November 4, 2021		-		327,490		327,490
Strome Warrants		0.50	June 15, 2023		1,500,000		-		1,500,000
B. Riley Warrants		1.00	October 18, 2025		875,000		-		875,000
MDB Warrants		1.15	October 19, 2022		-		119,565		119,565
MDB Warrants		2.50	October 19, 2022		-		60,000		60,000
Total outstanding and exercisable					2,375,000		507,055		2,882,055

Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Summary of Stock-based Compensation

Stock-based compensation and equity-based expense charged to operations or capitalized during the three months and six months ended June 30, 2020 and 2019 are summarized as follows:

	Restricted		Common		Common				Channel
	Stock		Stock		Equity		Outside		Partner		ABG
	Awards		Awards		Awards		Options		Warrants		Warrants		Totals
During the Three Months Ended June 30, 2020
Cost of revenue	$	35,750	$	27,970	$	1,073,674	$	1,967	$	27,623	$	-	$	1,166,984
Selling and marketing		298,187		23,783		701,925		43,489		-		-		1,067,384
General and administrative		135,332		138,156		819,916		95,394		-		360,289		1,549,087
Total costs charged to operations		469,269		189,909		2,595,515		140,850		27,623		360,289		3,783,455
Capitalized platform development		75,709		80,608		341,642		1,652		-		-		499,611
Total stock-based compensation	$	544,978	$	270,517	$	2,937,157	$	142,502	$	27,623	$	360,289	$	4,283,066

During the Three Months Ended June 30, 2019
Cost of revenue	$	26,526	$	6,965	$	131,057	$	149	$	6,561	$	-	$	171,258
Selling and marketing		-		25,995		120,036		25,305		-		-		171,336
General and administrative		859,222		395,087		931,393		44,695		-		67,307		2,297,704
Total costs charged to operations		885,748		428,047		1,182,486		70,149		6,561		67,307		2,640,298
Capitalized platform development		194,353		42,793		165,030		2,146		-		-		404,322
Total stock-based compensation	$	1,080,101		470,840	$	1,347,516	$	72,295	$	6,561	$	67,307	$	3,044,620

During the Six Months Ended June 30, 2020
Cost of revenue	$	73,326	$	97,766	$	2,083,266	$	3,173	$	35,662	$	-	$	2,293,193
Selling and marketing		597,402		59,511		1,380,204		98,867		-		-		2,135,984
General and administrative		158,252		309,828		1,575,163		150,577		-		720,578		2,914,398
Total costs charged to operations		828,980		467,105		5,038,633		252,617		35,662		720,578		7,343,575
Capitalized platform development		145,992		121,765		597,643		4,263		-		-		869,663
Total stock-based compensation	$	974,972	$	588,870	$	5,636,276	$	256,880	$	35,662	$	720,578	$	8,213,238

During the Six Months Ended June 30, 2019
Cost of revenue	$	61,901	$	27,184	$	131,057	$	1,278	$	18,909	$	-	$	240,329
Selling and marketing		34,393		47,940		120,036		77,251		-		-		279,620
General and administrative		1,574,859		799,517		932,285		66,008		-		67,307		3,439,976
Total costs charged to operations		1,671,153		874,641		1,183,378		144,537		18,909		67,307		3,959,925
Capitalized platform development		332,309		72,785		165,030		2,146		-		-		572,270
Total stock-based compensation	$	2,003,462		947,426	$	1,348,408	$	146,683	$	18,909	$	67,307	$	4,532,195

Schedule of Unrecognized Compensation Expense

Unrecognized compensation expense related to the stock-based compensation awards and equity-based awards as of June 30, 2020 was as follows:

	Restricted Stock Awards		Common Stock Awards		Common Equity Awards		Outside Options		Channel Partner Warrants		ABG Warrants		Totals
Unrecognized compensation expense	$	902,489	$	1,230,827	$	26,166,996	$	464,309	$	1,011	$	3,942,598	$	32,708,230
Weighted average period expected to be recognized (in years)		0.69		0.87		2.27		1.68		0.25		2.88		2.24

Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Revenue by product line:
Advertising	$	7,541,616	$	5,670,712	$	19,379,600	$	11,808,066
Digital subscriptions		6,089,450		56,021		11,626,697		107,934
Magazine circulation		8,629,166		-		21,166,698		-
Other		830,708		43,550		1,330,798		128,246
Total	$	23,090,940	$	5,770,283	$	53,503,793	$	12,044,246
Revenue by geographical market:
United States	$	22,049,636	$	5,770,283	$	51,331,766	$	12,044,246
Other		1,041,304		-		2,172,027		-
Total	$	23,090,940	$	5,770,283	$	53,503,793	$	12,044,246
Revenue by timing of recognition:
At point in time	$	17,001,490	$	5,714,262	$	41,877,096	$	11,936,312
Over time		6,089,450		56,021		11,626,697		107,934
Total	$	23,090,940	$	5,770,283	$	53,503,793	$	12,044,246

Schedule of Contract with Customer, Asset and Liability

The following table provides information about contract balances:

	As of
	June 30, 2020		December 31, 2019
Unearned revenue (short-term contract liabilities):
Digital subscriptions		12,688,136		8,634,939
Magazine circulation		42,731,290		23,528,148
	$	55,419,426	$	32,163,087
Unearned revenue (long-term contract liabilities):
Digital subscriptions	$	1,473,758	$	478,557
Magazine circulation		13,135,330		30,478,154
Other		207,500		222,500
	$	14,816,588	$	31,179,211

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule of Liquidating Damages

Registration rights damages	$	120,000
Public information failure damages		180,000
Accrued interest		19,903
	$	319,903

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Accounting Policies [Abstract]
Revenues	$ 23,090,940		$ 5,770,283		$ 53,503,793	$ 12,044,246
Net income loss	(23,161,329)	$ (22,776,624)	$ (10,585,561)	$ (8,934,980)	(45,937,953)	(19,520,541)
Net operating activities					(17,420,685)	$ (47,083,581)
Accumulated deficit	(118,979,276)				(118,979,276)		$ (73,041,323)
Working capital	10,100,000				10,100,000
Additional borrowings	$ 5,000,000				$ 5,000,000

- Definition

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

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- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Summary of Significant Accounting Policies - Schedule of Net Income (Loss) Per Common Share (Details) - shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Antidilutive securities excluded from computation of earnings per share amount	257,419,783	177,800,621
Series G Preferred Stock [Member]
Antidilutive securities excluded from computation of earnings per share amount	188,791	188,791
Series H Preferred Stock [Member]
Antidilutive securities excluded from computation of earnings per share amount	58,787,879	58,787,879
Series I Preferred Stock [Member]
Antidilutive securities excluded from computation of earnings per share amount	46,200,000	46,200,000
Series J Preferred Stock [Member]
Antidilutive securities excluded from computation of earnings per share amount	28,571,428
Indemnity Shares of Common Stock [Member]
Antidilutive securities excluded from computation of earnings per share amount	412,500	825,000
Restricted Stock Awards [Member]
Antidilutive securities excluded from computation of earnings per share amount	1,433,332	3,574,997
Financing Warrants [Member]
Antidilutive securities excluded from computation of earnings per share amount	2,882,055	3,949,018
ABG Warrants [Member]
Antidilutive securities excluded from computation of earnings per share amount	21,989,844
Channel Partner Warrants [Member]
Antidilutive securities excluded from computation of earnings per share amount	789,541	939,540
Restricted Stock Units [Member]
Antidilutive securities excluded from computation of earnings per share amount	2,399,997	2,399,997
Common Stock Awards [Member]
Antidilutive securities excluded from computation of earnings per share amount	8,033,936	9,047,892
Common Equity Awards [Member]
Antidilutive securities excluded from computation of earnings per share amount	82,744,480	48,154,840
Outside Options [Member]
Antidilutive securities excluded from computation of earnings per share amount	2,986,000	3,732,667

Acquisitions (Details Narrative) - USD ($)			6 Months Ended
Acquisitions (Details Narrative) - USD ($)	Mar. 09, 2020	Feb. 19, 2020	Jun. 30, 2020
Developed Technology [Member]
Developed technology useful life			5 years
Petametrics Inc. [Member]
Cash payment		$ 184,087
Petametrics Inc. [Member] \| Closing [Member]
Cash payment	$ 131,202
Petametrics Inc. [Member] \| First Anniversary Date [Member]
Number of restricted common stock issued	312,500
Petametrics Inc. [Member] \| Second Anniversary Date [Member]
Number of restricted common stock issued	312,500

Acquisitions - Schedule of Preliminary Purchase Price (Details) - USD ($)		6 Months Ended
	Mar. 09, 2020	Jun. 30, 2020	Jun. 30, 2019
Payables and Accruals [Abstract]
Cash	$ 315,289	$ 315,289
Indemnity restricted stock units for shares of common stock	500,000
Total purchase consideration	$ 815,289

Acquisitions - Summary of Price Allocation for Acquisition (Details	Mar. 09, 2020 USD ($)
Business Combinations [Abstract]
Accounts receivable	$ 37,908
Developed technology	917,762
Accounts payable	(53,494)
Unearned revenue	(86,887)
Net assets acquired	$ 815,289

Balance Sheet Components (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
Balance Sheet Components (Details Narrative) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Balance Sheet Components
Allowance for doubtful accounts	$ 445,317		$ 445,317		$ 304,129
Subscription acquisition costs	8,750,230		8,750,230		3,142,580
Subscription acquisition costs, net of current portion	7,785,479		7,785,479		$ 3,417,478
Amortization expense	1,037,834	$ 623,819	1,958,658	$ 1,211,289
Amortization expense of intangible asset	$ 5,094,791	$ 834,900	10,127,515	1,669,800
Impairment charges

Balance Sheet Components - Summary of Platform Development Costs (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Net platform development	$ 1,329,534	$ 661,277
Platform Development [Member]
Platform development	13,609,436	10,678,692	$ 6,833,900
Less accumulated amortization	(6,744,631)	(4,785,973)
Net platform development	$ 6,864,805	$ 5,892,719

Balance Sheet Components - Summary of Platform Development Cost Activity (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Stock-based compensation	$ 7,343,575	$ 3,959,925
Platform Development [Member]
Platform development beginning of period	10,678,692	$ 6,833,900	$ 6,833,900
Payroll-based costs capitalized during the period	2,061,081		2,537,402
Total capitalized costs	12,739,773		9,371,302
Stock-based compensation	869,663		1,307,390
Platform development end of period	$ 13,609,436		$ 10,678,692

Balance Sheet Components - Schedule of Intangible Assets Subjects to Amortization (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Intangible assets, gross	$ 100,722,665	$ 99,804,903
Intangible assets, accumulated amortization	(18,528,274)	(8,400,759)
Intangible assets, net	82,194,391	91,404,144
Developed Technology [Member]
Intangible assets, gross	20,055,866	19,138,104
Intangible assets, accumulated amortization	(6,391,034)	(4,090,359)
Intangible assets, net	13,664,832	15,047,745
Noncompete Agreement [Member]
Intangible assets, gross	480,000	480,000
Intangible assets, accumulated amortization	(372,000)	(252,000)
Intangible assets, net	108,000	228,000
Trade Name [Member]
Intangible assets, gross	3,328,000	3,328,000
Intangible assets, accumulated amortization	(364,042)	(224,745)
Intangible assets, net	2,963,958	3,103,255
Subscriber Relationships [Member]
Intangible assets, gross	73,458,799	73,458,799
Intangible assets, accumulated amortization	(10,846,438)	(3,587,837)
Intangible assets, net	62,612,361	69,870,962
Advertiser Relationships [Member]
Intangible assets, gross	2,240,000	2,240,000
Intangible assets, accumulated amortization	(213,577)	(94,635)
Intangible assets, net	2,026,423	2,145,365
Database [Member]
Intangible assets, gross	1,140,000	1,140,000
Intangible assets, accumulated amortization	(341,183)	(151,183)
Intangible assets, net	798,817	988,817
Subtotal Amortizable Intangible Assets [Member]
Intangible assets, gross	100,702,665	99,784,903
Intangible assets, accumulated amortization	(18,528,274)	(8,400,759)
Intangible assets, net	82,174,391	91,384,144
Website Domain Name [Member]
Intangible assets, gross	20,000	20,000
Intangible assets, accumulated amortization
Intangible assets, net	$ 20,000	$ 20,000

Leases (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
Leases (Details Narrative) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Operating lease costs	$ 1,062,181	$ 130,951	$ 2,100,085	$ 261,903
Minimum [Member]
Lease term	1 year 6 months		1 year 6 months
Maximum [Member]
Lease term	12 years 9 months 18 days		12 years 9 months 18 days

Leases - Schedule of Supplemental Information Related to Operating Leases (Details)	2 Months Ended
	Jun. 30, 2020 USD ($)
Lessee Disclosure [Abstract]
Operating cash flows for operating leases	$ 1,349,213
Noncash lease liabilities arising from obtaining operating leased assets during the period	$ 16,617,790
Weighted-average remaining lease term	11 years 1 month 16 days
Weighted-average discount rate	13.46%

Leases - Summary of Maturity of Lease Liabilities (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Lessee Disclosure [Abstract]
2020 (remaining six months of the year)	$ 1,839,773
2021	3,804,853
2022	3,525,158
2023	3,528,696
2024	3,526,406
Thereafter	27,563,572
Minimum lease payments	43,788,458
Less imputed interest	(22,362,451)
Present value of operating lease liabilities	21,426,007
Current portion of operating lease liabilities	1,506,992	$ 2,203,474
Long-term portion of operating lease liabilities	19,919,015	$ 2,616,132
Total operating lease liabilities	$ 21,426,007

Leases - Schedule of Future Minimum Operating Lease Payments (Details)	Dec. 31, 2019 USD ($)
Lessee Disclosure [Abstract]
2020	$ 2,579,924
2021	685,111
2022	472,084
2023	486,247
2024	500,834
Thereafter	1,408,052
Operating leasefuture minimum payments due	$ 6,132,252

Line of Credit (Details Narrative) - USD ($)	Feb. 27, 2020	Jun. 30, 2020	Dec. 31, 2019
Sallyport [Member]
Receivable from related party			$ 626,532
Financing and Security Agreement [Member]
Line of credit		$ 3,243,882
Line of credit maturity date	Feb. 06, 2022
Line of credit, outstanding amount		$ 4,900,000
Financing and Security Agreement [Member] \| LIBOR Rate Plus [Member]
Line of credit interest rate	8.50%
Financing and Security Agreement [Member] \| FastPay Credit Facility [Member]
Line of credit	$ 15,000,000

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Fair Value Measurements (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
Fair Value Measurements (Details Narrative) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Change in valuation of warrant derivative liabilities	$ 243,276	$ (166,075)	$ 382,495	$ (541,770)
Change in valuation of embedded derivative liabilities	$ 2,922,000	$ (1,396,000)	4,543,000	$ (3,779,000)
Level 3 [Member]
Change in valuation of embedded derivative liabilities			$ 8,958,000		$ 13,501,000

Fair Value Measurements - Schedule of warrant derivative liabilities (Details) - Integer	Jun. 30, 2020	Dec. 31, 2019
Expected Life [Member] \| Strome Warrants [Member]
Warrants term	2 years 11 months 15 days	3 years 5 months 12 days
Expected Life [Member] \| B. Riley Warrants [Member]
Warrants term	5 years 3 months 19 days	5 years 9 months 18 days
Measurement Input, Risk Free Interest Rate [Member] \| Strome Warrants [Member]
Warrants measurement input	0.18	1.62
Measurement Input, Risk Free Interest Rate [Member] \| B. Riley Warrants [Member]
Warrants measurement input	0.29	1.76
Volatility Factor [Member] \| Strome Warrants [Member]
Warrants measurement input	138.50	144.54
Volatility Factor [Member] \| B. Riley Warrants [Member]
Warrants measurement input	135.13	127.63
Dividend Rate [Member] \| Strome Warrants [Member]
Warrants measurement input	0	0
Dividend Rate [Member] \| B. Riley Warrants [Member]
Warrants measurement input	0	0
Transaction Date Closing Market [Member] \| Strome Warrants [Member]
Warrants measurement input	0.65	0.80
Transaction Date Closing Market [Member] \| B. Riley Warrants [Member]
Warrants measurement input	0.65	0.80
Exercise Price [Member] \| Strome Warrants [Member]
Warrants measurement input	0.50	0.50
Exercise Price [Member] \| B. Riley Warrants [Member]
Warrants measurement input	1.00	1.00

Fair Value Measurements - Schedule of Valuation Activity for Warrants Accounted for Derivative Liability (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
L2 Warrants [Member]
Carrying value begining period		$ 418,214
Change in valuation of warrant derivative liabilities		173,181
Carrying value at end of the period		591,395
Strome Warrants [Member]
Carrying value begining period	1,036,687	587,971
Change in valuation of warrant derivative liabilities	(260,345)	243,464
Carrying value at end of the period	776,342	831,435
B. Riley Warrants [Member]
Carrying value begining period	607,513	358,050
Change in valuation of warrant derivative liabilities	(122,150)	125,125
Carrying value at end of the period	485,363	483,175
Warrants [Member]
Carrying value begining period	1,644,200	1,364,235
Change in valuation of warrant derivative liabilities	(382,495)	541,770
Carrying value at end of the period	$ 1,261,705	$ 1,906,005

Convertible Debt (Details Narrative) - USD ($)					6 Months Ended
Convertible Debt (Details Narrative) - USD ($)	Apr. 08, 2019	Mar. 27, 2019	Mar. 18, 2019	Dec. 12, 2018	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Debt interest rate							12.00%	12.00%	12.00%
Debt conversion description					The 12% Convertible Debentures are subject to the Company receiving stockholder approval to increase its authorized shares of common stock. Principal on the 12% Convertible Debentures are convertible into shares of common stock, at the option of the investor at any time prior to December 31, 2020, at either a per share conversion price of $0.33 (with respect to the 12% Convertible Debentures issued in 2018) or $0.40 (with respect to the 12% Convertible Debentures issued in 2019), subject to adjustment for stock splits, stock dividends and similar transactions, and certain beneficial ownership blocker provisions.
Coversion price								$ 0.40	$ 0.33
Proceeds from convertible debt	$ 100,000	$ 318,000	$ 1,696,000	$ 13,091,528		$ 2,000,000
Debt converted into shares	250,000	795,000	4,240,000	39,671,297

Convertible Debt - Schedule of Convertible Debt (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Unamortized debt discount	$ (5,502,271)	$ (5,911,600)
12% Convertible Debenture [Member]
Principal amount of debt	18,146,745	17,119,571
Unamortized debt discount	(1,996,821)	(3,880,609)
Carrying value	$ 16,149,924	$ 13,238,962

Long-term Debt (Details Narrative) - USD ($)								6 Months Ended
Long-term Debt (Details Narrative) - USD ($)	Apr. 06, 2020	Mar. 24, 2020	Feb. 27, 2020	Aug. 27, 2019	Jun. 14, 2019	Jun. 10, 2019	Jun. 10, 2019	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt instrument interest rate									12.00%	12.00%	12.00%
Delayed Draw Term Note [Member]
Debt maturity date								Mar. 31, 2022
12% Senior Secured Note [Member]
Debt maturity date						Jul. 31, 2019
Proceeds from issuance of debt						$ 20,000,000
12% Senior Secured Note [Member] \| Amended and Restated Note Purchase Agreement [Member]
Debt maturity date							Jun. 14, 2022
Proceeds from issuance of debt					$ 48,000,000		$ 68,000,000
12% Second Amended Senior Secured Notes [Member]
Debt maturity date								Dec. 31, 2022
Proceeds from issuance of debt			$ 3,000,000	$ 3,000,000
12% Second Amended Senior Secured Notes [Member] \| Delayed Draw Term Note [Member]
Debt maturity date		Mar. 31, 2021
Proceeds from issuance of debt		$ 6,913,865
Principal amount of debt		$ 12,000,000
Debt instrument interest rate		15.00%
Legal fees		$ 793,109
Net proceeds from issuance of debt		6,000,000
12% Second Amended Senior Secured Notes [Member] \| Delayed Draw Term Note [Member] \| Maximum [Member]
Principal amount of debt		$ 8,000,000
Payroll Protection Program Loan [Member]
Debt maturity date	Apr. 06, 2022							Apr. 06, 2022
Debt instrument interest rate	0.98%
Proceeds from loan	$ 5,702,725

Long-term Debt - Schedule of Long Term Debt (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Principal Balance (including accrued interest)	$ 65,892,521	$ 49,921,345
Unamortized discount and debt issuance cost	(5,502,271)	(5,911,600)
Carrying value	60,390,250	44,009,745
Delayed Draw Term Note [Member]
Principal Balance (including accrued interest)	7,193,956
Unamortized discount and debt issuance cost	(783,313)
Carrying value	6,410,643
12% Second Amended Senior Secured Notes [Member]
Principal Balance (including accrued interest)	52,995,840	49,921,345
Unamortized discount and debt issuance cost	(4,718,958)	(5,911,600)
Carrying value	48,276,882	44,009,745
Payroll Protection Program Loan [Member]
Principal Balance (including accrued interest)	5,702,725
Unamortized discount and debt issuance cost
Carrying value	$ 5,702,725

Long-term Debt - Schedule of Long Term Debt (Details) (Parenthetical)			6 Months Ended
	Apr. 06, 2020	Mar. 24, 2020	Jun. 30, 2020
Delayed Draw Term Note [Member]
Debt maturity date			Mar. 31, 2022
12% Second Amended Senior Secured Notes [Member]
Debt maturity date			Dec. 31, 2022
12% Second Amended Senior Secured Notes [Member] \| Delayed Draw Term Note [Member]
Debt maturity date		Mar. 31, 2021
Payroll Protection Program Loan [Member]
Debt maturity date	Apr. 06, 2022		Apr. 06, 2022

Stockholders' Equity (Details Narrative) - USD ($)	6 Months Ended
Stockholders' Equity (Details Narrative) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Common stock authorized	1,000,000,000	1,000,000,000
Common stock par value	$ 0.01	$ 0.01
Shares issued price per share	$ 0.65
Money Stock Warrants [Member]
Fair value of warrants	$ 372,371

Stockholders' Equity - Schedule of Common Stock Financing Warrants Outstanding and Exercisable (Details)	6 Months Ended
	Jun. 30, 2020 $ / shares shares
Financing Warrants Classified as Derivative Liabilities (Shares)	2,375,000
Financing Warrants Classified within Stockholders' Equity (Shares)	507,055
Total Exercisable Financing Warrants (Shares)	2,882,055
MDB Warrants [Member]
Financing Warrants Exercise Price \| $ / shares	$ 0.20
Financing Warrants Expiration Date	Nov. 04, 2021
Financing Warrants Classified as Derivative Liabilities (Shares)
Financing Warrants Classified within Stockholders' Equity (Shares)	327,490
Total Exercisable Financing Warrants (Shares)	327,490
Strome Warrants [Member]
Financing Warrants Exercise Price \| $ / shares	$ 0.50
Financing Warrants Expiration Date	Jun. 15, 2023
Financing Warrants Classified as Derivative Liabilities (Shares)	1,500,000
Financing Warrants Classified within Stockholders' Equity (Shares)
Total Exercisable Financing Warrants (Shares)	1,500,000
B. Riley Warrants [Member]
Financing Warrants Exercise Price \| $ / shares	$ 1.00
Financing Warrants Expiration Date	Oct. 18, 2025
Financing Warrants Classified as Derivative Liabilities (Shares)	875,000
Financing Warrants Classified within Stockholders' Equity (Shares)
Total Exercisable Financing Warrants (Shares)	875,000
MDB Warrants One [Member]
Financing Warrants Exercise Price \| $ / shares	$ 1.15
Financing Warrants Expiration Date	Oct. 19, 2022
Financing Warrants Classified as Derivative Liabilities (Shares)
Financing Warrants Classified within Stockholders' Equity (Shares)	119,565
Total Exercisable Financing Warrants (Shares)	119,565
MDB Warrants Two [Member]
Financing Warrants Exercise Price \| $ / shares	$ 2.50
Financing Warrants Expiration Date	Oct. 19, 2022
Financing Warrants Classified as Derivative Liabilities (Shares)
Financing Warrants Classified within Stockholders' Equity (Shares)	60,000
Total Exercisable Financing Warrants (Shares)	60,000

Compensation Plans - Summary of Stock-based Compensation (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Cost of revenue	$ 24,874,179	$ 5,487,172	$ 51,613,012	$ 11,139,737
Selling and marketing	8,409,343	1,451,101	17,769,281	2,600,393
General and administrative	7,270,511	5,871,015	17,680,716	10,096,268
Total stock based compensation			7,343,575	3,959,925
Stock-based Compensation [Member]
Cost of revenue	1,166,984	171,258	2,293,193	240,329
Selling and marketing	1,067,384	171,336	2,135,984	279,620
General and administrative	1,549,087	2,297,704	2,914,398	3,439,976
Total costs charged to operations	3,783,455	2,640,298	7,343,575	3,959,925
Capitalized platform development	499,611	404,322	869,663	572,270
Total stock based compensation	4,283,066	3,044,620	8,213,238	4,532,195
Stock-based Compensation [Member] \| Channel Partner Warrants [Member]
Cost of revenue	27,623	6,561	35,662	18,909
Selling and marketing
General and administrative
Total costs charged to operations	27,623	6,561	35,662	18,909
Capitalized platform development
Total stock based compensation	27,623	6,561	35,662	18,909
Stock-based Compensation [Member] \| ABG Warrants [Member]
Cost of revenue
Selling and marketing
General and administrative	360,289	67,307	720,578	67,307
Total costs charged to operations	360,289	67,307	720,578	67,307
Capitalized platform development
Total stock based compensation	360,289	67,307	720,578	67,307
Restricted Stock Awards [Member] \| Stock-based Compensation [Member]
Cost of revenue	35,750	26,526	73,326	61,901
Selling and marketing	298,187		597,402	34,393
General and administrative	135,332	859,222	158,252	1,574,859
Total costs charged to operations	469,269	885,748	828,980	7,671,153
Capitalized platform development	75,709	194,353	145,992	332,309
Total stock based compensation	544,978	1,080,101	974,972	2,003,462
Common Stock Awards [Member] \| Stock-based Compensation [Member]
Cost of revenue	27,970	6,965	97,766	27,184
Selling and marketing	23,783	25,995	59,511	47,940
General and administrative	138,156	395,087	309,828	799,517
Total costs charged to operations	189,909	428,047	467,105	874,641
Capitalized platform development	80,608	42,793	121,765	72,785
Total stock based compensation	270,517	470,840	588,870	947,426
Common Equity Awards [Member] \| Stock-based Compensation [Member]
Cost of revenue	1,073,674	131,057	2,083,266	131,057
Selling and marketing	701,925	120,036	1,380,204	120,036
General and administrative	819,916	931,393	1,575,163	932,285
Total costs charged to operations	2,595,515	1,182,486	5,038,633	1,183,378
Capitalized platform development	341,642	165,030	597,643	165,030
Total stock based compensation	2,937,157	1,347,516	5,636,276	1,348,408
Outside Options [Member] \| Stock-based Compensation [Member]
Cost of revenue	1,967	149	3,173	1,278
Selling and marketing	43,489	25,305	98,867	77,251
General and administrative	95,394	44,695	150,577	66,008
Total costs charged to operations	140,850	70,149	252,617	144,537
Capitalized platform development	1,652	2,146	4,263	2,146
Total stock based compensation	$ 142,502	$ 72,295	$ 256,880	$ 146,683

Compensation Plans - Schedule of Unrecognized Compensation Expense (Details) - Stock-based Compensation [Member]	6 Months Ended
	Jun. 30, 2020 USD ($)
Unrecognized compensation expense	$ 32,708,230
Expected weighted-average period expected to be recognized (in years)	2 years 2 months 27 days
Channel Partner Warrants [Member]
Unrecognized compensation expense	$ 1,011
Expected weighted-average period expected to be recognized (in years)	2 months 30 days
ABG Warrants [Member]
Unrecognized compensation expense	$ 3,942,598
Expected weighted-average period expected to be recognized (in years)	2 years 10 months 17 days
Restricted Stock Awards [Member]
Unrecognized compensation expense	$ 902,489
Expected weighted-average period expected to be recognized (in years)	8 months 9 days
Common Stock Awards [Member]
Unrecognized compensation expense	$ 1,230,827
Expected weighted-average period expected to be recognized (in years)	10 months 14 days
Common Equity Awards [Member]
Unrecognized compensation expense	$ 26,166,996
Expected weighted-average period expected to be recognized (in years)	2 years 3 months 8 days
Outside Options [Member]
Unrecognized compensation expense	$ 464,309
Expected weighted-average period expected to be recognized (in years)	1 year 8 months 5 days

Revenue Recognition (Details Narrative)	Jun. 30, 2020 USD ($)
Revenue from Contract with Customer [Abstract]
Unearned revenue	$ 17,211,363

Revenue Recognition - Schedule of Disaggregation of Revenue (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Total revenue	$ 23,090,940	$ 5,770,283	$ 53,503,793	$ 12,044,246
At Point in Time [Member]
Total revenue	17,001,490	5,714,262	41,877,096	11,936,312
Over Time [Member]
Total revenue	6,089,450	56,021	11,626,697	107,934
United States [Member]
Total revenue	22,049,636	5,770,283	51,331,766	12,044,246
Other [Member]
Total revenue	1,041,304		2,172,027
Advertising [Member]
Total revenue	7,541,616	5,670,712	19,379,600	11,808,066
Digital Subscriptions [Member]
Total revenue	6,089,450	56,021	11,626,697	107,934
Magazine Circulation [Member]
Total revenue	8,629,166		21,166,698
Other [Member]
Total revenue	$ 830,708	$ 43,550	$ 1,330,798	$ 128,246

- Definition

+ References

+ Details

Revenue Recognition - Schedule of Contract with Customer, Asset and Liability (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Unearned revenue (short-term contract liabilities)	$ 55,419,426	$ 32,163,087
Unearned revenue (long-term contract liabilities)	14,816,588	31,179,211
Digital Subscriptions [Member]
Unearned revenue (short-term contract liabilities)	12,688,136	8,634,939
Unearned revenue (long-term contract liabilities)	1,473,758	478,557
Magazine Circulation [Member]
Unearned revenue (short-term contract liabilities)	42,731,290	23,528,148
Unearned revenue (long-term contract liabilities)	13,135,330	30,478,154
Other [Member]
Unearned revenue (long-term contract liabilities)	$ 207,500	$ 222,500

Commitments and Contingencies (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue guarantee description			These arrangements generally guarantee the publisher a monthly amount of income for a period of 12 to 24 months from inception of the publisher contract that is the greater of (a) a fixed monthly minimum, or (b) the calculated earned revenue share.
Revenue	$ 23,090,940	$ 5,770,283	$ 53,503,793	$ 12,044,246
Revenue Guarantee [Member]
Revenue	$ 2,628,477	$ 1,115,640	$ 5,002,564	$ 2,370,632

- Definition

+ References

+ Details

Commitments and Contingencies - Schedule of Liquidating Damages (Details) - Contingent Obligations [Member]	Jun. 30, 2020 USD ($)
Registration Rights Damages	$ 120,000
Public Information Failure Damages	180,000
Accrued interest	19,903
Totals	$ 319,903

Subsequent Events (Details Narrative) - USD ($)																		1 Months Ended		6 Months Ended
Subsequent Events (Details Narrative) - USD ($)	May 04, 2021	Apr. 02, 2021	Feb. 28, 2021	Feb. 18, 2021	Dec. 31, 2020	Dec. 15, 2020	Oct. 31, 2020	Oct. 30, 2020	Oct. 23, 2020	Sep. 21, 2020	Sep. 04, 2020	Aug. 20, 2020	Aug. 20, 2020	Apr. 08, 2019	Mar. 27, 2019	Mar. 18, 2019	Dec. 12, 2018	Nov. 11, 2020	Jul. 31, 2020	Jun. 30, 2020	Mar. 18, 2021	Feb. 17, 2021	Dec. 18, 2020	Dec. 17, 2020	Dec. 31, 2019	Dec. 31, 2018
Shares issued upon conversion of debt														250,000	795,000	4,240,000	39,671,297
Conversion price per share																									$ 0.40	$ 0.33
Share issued price per share																				$ 0.65
Working capital																				$ 10,100,000
Restricted cash																				1,000,809					$ 620,809
Remaining outstanding balance																				$ 43,788,458
Common stock, shares authorized																				1,000,000,000					1,000,000,000
Delayed DrawTerm Note [Member]
Debt maturity date																				Mar. 31, 2022
Subsequent Event [Member]
Number of shares vested						1,064,549
Purchase price per share						$ 4.00
Preferred stock shares designated									20,000
Common stock, shares authorized																							1,000,000,000	100,000,000
Subsequent Event [Member] \| Surrender Agreement [Member]
Restricted cash								$ 500,000
Monthly lease payments								68,868
Remaining outstanding balance								$ 1,239,624
Subsequent Event [Member] \| Series J Preferred Stock [Member] \| Purchase Agreements [Member]
Until paid interest rate percentage		1.00%
Subsequent Event [Member] \| Series L Preferred Stock [Member]
Share issued price per share	$ 1.00
Preferred stock voting rights	1,000 times the aggregate per share amount of all cash dividends, and 1,000 times the aggregate per share amount (payable in kind) of all non-cash dividends or other distributions paid to the holders of the Company's common stock. The Series L Preferred Stock will be entitled to 1,000 votes on all matters submitted to a vote of the stockholders of the Company. In the event of any merger, consolidation or other transaction in which shares of the Company's common stock are converted or exchanged, the Series L Preferred Stock will be entitled to receive 1,000 times the amount received per one share of the Company's common stock.
Subsequent Event [Member] \| Series L Preferred Stock [Member] \| Purchase Agreements [Member]
Share issued price per share	$ 4.00
Preferred stock stated value	$ 0.01
Subsequent Event [Member] \| Series K Preferred Stock [Member] \| Purchase Agreements [Member]
Until paid interest rate percentage		1.00%
Subsequent Event [Member] \| Accredited Investor [Member] \| Series H Preferred Stock [Member]
Conversion price per share												$ 0.33	$ 0.33
Number of shares issued during period, shares												108
Shares issued during the period deemed null and void												2,145
Preferred stock stated value												$ 1,000	$ 1,000
Conversion of stock												327,273
Proceeds from issuance of common stock												$ 130,896
Subsequent Event [Member] \| Investors [Member]
Conversion of stock										909,090
Subsequent Event [Member] \| Investors [Member] \| Series H Preferred Stock [Member]
Conversion of stock										300
Subsequent Event [Member] \| James Heckman [Member] \| Series H Preferred Stock [Member]
Conversion price per share							$ 0.33
Note payable							$ 389,000
Number of shares issued during period, shares							389
Preferred stock stated value							$ 1,000
Conversion of stock							1,178,787
Subsequent Event [Member] \| Two Accredited Investors [Member] \| Series J Preferred Stock [Member]
Conversion price per share											$ 0.70
Number of shares issued during period, shares											10,500
Preferred stock stated value											$ 1,000
Conversion of stock											15,013,072
Proceeds from issuance of common stock											$ 6,000,000
Subsequent Event [Member] \| Accredited Investors [Member] \| Series K Convertible Preferred Stock [Member] \| Securities Purchase Agreement [Member]
Debt principal amount																		$ 3,400,000
Conversion price per share																		$ 0.40
Number of shares issued during period, shares																		18,042
Preferred stock stated value																		$ 1,000
Proceeds from issuance of common stock																		$ 18,042,000
Common stock shares issuable upon conversion																		45,105,000
Cash fee paid																		$ 560,500
Working capital																		11,500,000
Payments for prior investment																		$ 2,600,000
Subsequent Event [Member] \| Maximum [Member] \| Series H Preferred Stock [Member]
Liquidated damages percentage													1.00%
Until paid interest rate percentage													1.00%
Subsequent Event [Member] \| Maximum [Member] \| Series J Preferred Stock [Member] \| Purchase Agreements [Member]
Liquidated damages percentage		1.00%
Percentage of aggregate amount invested		6.00%
Subsequent Event [Member] \| Maximum [Member] \| Series K Preferred Stock [Member] \| Purchase Agreements [Member]
Liquidated damages percentage		1.00%
Percentage of aggregate amount invested		6.00%
Subsequent Event [Member] \| 12% Convertible Debentures [Member]
Debt principal amount					$ 18,104,949
Shares issued upon conversion of debt					53,887,470
Repayments of debt					$ 1,130,903
Subsequent Event [Member] \| 12% Convertible Debentures [Member] \| Maximum [Member]
Conversion price per share					$ 0.33
Subsequent Event [Member] \| 12% Convertible Debentures [Member] \| Minimum [Member]
Conversion price per share					$ 0.40
Subsequent Event [Member] \| 12% Amended Senior Secured Notes [Member]
Debt principal amount									$ 4,300,000
Subsequent Event [Member] \| 12% Amended Senior Secured Notes [Member] \| Delayed DrawTerm Note [Member]
Debt principal amount									$ 3,295,505
Shares issued upon conversion of debt									3,367,000
Accrued interest									$ 71,495
In-kind interest									700,000
Subsequent Event [Member] \| 12% Amended Senior Secured Notes [Member] \| B. Riley [Member]
Line of credit									$ 56,300,000
Subsequent Event [Member] \| 12% Amended Senior Secured Notes [Member] \| B. Riley [Member] \| Interest and Unpaid Accrued Interest [Member]
Share issued price per share									$ 0.40
Accrued interest									$ 330,000
Debt maturity date									Mar. 31, 2022
Subsequent Event [Member] \| 12% Amended Senior Secured Notes [Member] \| B. Riley [Member] \| Principal Outstanding [Member]
Line of credit									$ 48,800,000
Subsequent Event [Member] \| 12% Amended Senior Secured Notes [Member] \| B. Riley [Member] \| Payment-in-Kind of Interest [Member]
Line of credit									$ 420,000
Subsequent Event [Member] \| 2019 Equity Incentive Plan [Member]
Stock options, shares authorized				185,000,000																	26,200,000	85,000,000
Number of shares, granted																			77,157,799
Number of shares remain outstanding																			77,157,799
Subsequent Event [Member] \| 2019 Equity Incentive Plan [Member] \| Non Qualified Stock Options [Member]
Number of shares common stock options, granted				11,158,049
Subsequent Event [Member] \| 2019 Equity Incentive Plan [Member] \| Restricted Stock Awards [Member]
Number of shares common stock options, granted				26,048,781
Subsequent Event [Member] \| 2019 Equity Incentive Plan [Member] \| Stock Options [Member]
Number of shares, granted			11,158,049
Subsequent Event [Member] \| 2019 Equity Incentive Plan [Member] \| Restricted Stock Units [Member]
Number of shares, granted			26,048,781