0001493152-21-019975 | 10-Q | XBRL Viewer

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

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

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

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

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

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

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

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

Basis of Presentation

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

The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements, which are included in Maven’s Annual Report on Form 10-K (the “Form 10-K”) for the year ended December 31, 2020, filed with the SEC on August 16, 2021.

The condensed consolidated financial statements as of December 31, 2020, and for the three months ended March 31, 2021 and 2020, are unaudited but, in management’s opinion, include all adjustments necessary for a fair presentation of the results of interim periods. All such adjustments are of a normal recurring nature. The year-end condensed consolidated balance sheet as of December 31, 2020, was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The results of operations for interim periods are not necessarily indicative of the results to be expected for the entire fiscal year. The Company’s impact during the first quarter of 2021 by the novel coronavirus (“COVID-19”) pandemic has been to a lesser extent than in 2020. Beginning in 2021, restrictions on non-essential work activity have begun to lift and sporting and other events have begun to be held, with attendance closer to pre-pandemic levels, which has resulted in an increase in traffic and advertising revenue. The Company expects a continued modest growth in advertising revenue back toward pre-pandemic levels, however, such growth depends on future developments, including the duration and spread of the COVID-19 pandemic, whether related group gathering and sports event advisories and restrictions will be put in place again, and the extent and effectiveness of containment and other actions taken, including the percentage of the population that receives COVID-19 vaccinations.

Reclassifications

Certain prior year amounts have been reclassified to conform to the fiscal 2020 presentation.

Use of Estimates

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

Contract Modifications

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

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

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

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

Recently Adopted Accounting Standards

In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which removes certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences. This guidance also clarifies and simplifies other areas of ASC 740. Certain amendments in this update must be applied on a prospective basis, certain amendments must be applied on a retrospective basis, and certain amendments must be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings/(deficit) in the period of adoption. On January 1, 2021, the Company adopted ASU 2019-12 with no material impact to its condensed consolidated financial position, results of operations or cash flows.

In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40), which updates various codification topics to simplify the accounting guidance for certain financial instruments with characteristics of liabilities and equity, with a specific focus on convertible instruments and the derivative scope exception for contracts in an entity’s own equity and amends the diluted EPS computation for these instruments. On January 1, 2021, the Company adopted ASU 2020-06 with no material impact to its condensed consolidated financial statements.

In October 2020, the FASB issued ASU 2020-08, Codification Improvements to Subtopic 310-20 – Receivables – Nonrefundable Fees and Other Costs, which clarifies that a reporting entity should assess whether a callable debt security purchased at a premium is within the scope of ASC 310-20-35-33 each reporting period, which impacts the amortization period for nonrefundable fees and other costs. On January 1, 2021, the Company adopted ASU 2020-08 with no material impact to its condensed consolidated financial statements.

In October 2020, the FASB issued ASU 2020-10, Codification Improvements, which updates various codification topics by clarifying or improving disclosure requirements to align with the SEC’s regulations. On January 1, 2021, the Company adopted ASU 2020-10 with no material impact to its condensed consolidated financial statements.

Loss per Common Share

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

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

	As of March 31,
	2021		2020
Series G convertible preferred stock		188,791		188,791
Series H Preferred Stock		59,384,849		58,787,879
Series I Preferred Stock		-		46,200,000
Series J Preferred Stock		-		28,571,428
Indemnity shares of common stock		-		412,500
Restricted Stock Awards		316,667		1,991,665
Financing Warrants		2,882,055		2,882,055
ABG Warrants		21,989,844		21,989,844
AllHipHop warrants		125,000		-
Publisher Partner Warrants		789,541		939,540
Restricted Stock Units		-		2,399,997
Common Stock Awards		7,078,723		8,063,811
Common Equity Awards		157,945,671		77,106,507
Outside Options		3,050,000		3,730,667
Total		253,751,141		253,264,684

Acquisition

3 Months Ended

Mar. 31, 2021

Business Combinations [Abstract]

Acquisitions

Acquisition

On March 9, 2020, the Company entered into an asset purchase agreement with Petametrics Inc., dba LiftIgniter, a Delaware corporation (“LiftIgniter”), where it purchased substantially all the assets, including the intellectual property and excluding certain accounts receivable, and assumed certain liabilities. The purchase price consisted of: (1) a cash payment of $184,087 on February 19, 2020, in connection with the repayment of all outstanding indebtedness, (2) at closing, a cash payment of $131,202, (3) collections of certain accounts receivable, (4) on the first anniversary date of the closing, the issuance of restricted stock units for an aggregate of up to 312,500 shares of the Company’s common stock (of which 256,661 shares of the Company’s common stock were issued during the three months ended March 31, 2021 and 55,839 are to be issued), and (5) on the second anniversary date of the closing, the issuance of restricted stock units for an aggregate of up to 312,500 shares of the Company’s common stock.

The composition of the purchase price is as follows:

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

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

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

The useful life for the developed technology is three years (3.0 years).

Balance Sheet Components

3 Months Ended

Mar. 31, 2021

Balance Sheet Components

Balance Sheet Components

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 March 31, 2021 and December 31, 2020 was $718,912 and $892,352, 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 March 31, 2021 and December 31, 2020 was $31,171,595 and $28,146,895, respectively. The noncurrent portion of the subscription acquisition costs as of March 31, 2021 and December 31, 2020 was $18,682,545 and $13,358,585, 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 under the heading Contract Balances in Note 11).

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

	As of
	March 31, 2021			December 31, 2020
Office equipment and computers	$	1,439,071		$	1,341,292
Furniture and fixtures		19,997			19,997
Leasehold improvements		345,516			345,516
		1,804,584			1,706,805
Less accumulated depreciation and amortization		(687,181	)		(577,367	)
Net property and equipment	$	1,117,403		$	1,129,438

Depreciation and amortization expense for the three months ended March 31, 2021 and 2020 was $109,814 and $638,796, respectively. Depreciation and amortization expense is included in selling and marketing expenses and general and administrative expenses, as appropriate, on the consolidated statements of operations.

Platform Development – Platform development costs are summarized as follows:

	As of
	March 31, 2021			December 31, 2020
Platform development	$	17,204,336		$	16,027,428
Less accumulated amortization		(9,740,665	)		(8,671,820	)
Net platform development	$	7,463,671		$	7,355,608

A summary of platform development activity for the three months ended March 31, 2021 and year ended December 31, 2020 is as follows:

	As of
	March 31, 2021		December 31, 2020
Platform development beginning of period	$	16,027,428	$	10,678,692
Payroll-based costs capitalized during the period		867,713		3,750,541
Total capitalized costs		16,895,141		14,429,233
Stock-based compensation		309,195		1,608,995
Dispositions		-		(10,800	)
Platform development end of period	$	17,204,336	$	16,027,428

Amortization expense for the three months ended March 31, 2021 and 2020, was $1,068,845 and $920,824, respectively.

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

	As of March 31, 2021							As of December 31, 2020
	Carrying Amount		Accumulated Amortization			Net Carrying Amount		Carrying Amount		Accumulated Amortization			Net Carrying Amount
Developed technology	$	19,070,857	$	(9,381,310	)	$	9,689,547	$	19,070,857	$	(8,283,740	)	$	10,787,117
Noncompete agreement		480,000		(480,000	)		-		480,000		(480,000	)		-
Trade name		3,328,000		(572,992	)		2,755,008		3,328,000		(503,342	)		2,824,658
Subscriber relationships		73,458,799		(21,734,342	)		51,724,457		73,458,799		(18,105,041	)		55,353,758
Advertiser relationships		2,240,000		(391,984	)		1,848,016		2,240,000		(332,515	)		1,907,485
Database		1,140,000		(626,183	)		513,817		1,140,000		(531,183	)		608,817
Subtotal amortizable intangible assets		99,717,656		(33,186,811	)		66,530,845		99,717,656		(28,235,821	)		71,481,835
Website domain name		20,000		-			20,000		20,000		-			20,000
Total intangible assets	$	99,737,656	$	(33,186,811	)	$	66,550,845	$	99,737,656	$	(28,235,821	)	$	71,501,835

Amortization expense for the three months ended March 31, 2021 and 2020 was $4,950,990 and $5,032,724, respectively. No impairment charges have been recorded during for the three months ended March 31, 2021 and 2020.

Leases

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Leases

Leases

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

The table below presents supplemental information related to operating leases:

Three Months Ended March 31, 2021
Operating cash flows for operating leases	$	968,473
Noncash lease liabilities arising from obtaining operating leased assets during the period	$	-
Weighted-average remaining lease term		11.02
Weighted-average discount rate		13.58	%

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

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

Operating lease costs recognized for the three months ended March 31, 2021 and 2020 were $908,465 and $1,037,904, respectively.

Maturities of operating lease liabilities as of March 31, 2021 are summarized as follows:

Years Ending December 31,
2021 (remaining nine months of the year)	$	2,836,380
2022		3,525,158
2023		3,528,696
2024		3,526,406
2025		3,740,591
Thereafter		23,822,981
Minimum lease payments		40,980,212
Less imputed interest		(20,277,693	)
Present value of operating lease liabilities	$	20,702,519
Current portion of operating lease liabilities	$	1,022,294
Long-term portion of operating lease liabilities		19,680,225
Total operating lease liabilities	$	20,702,519

Line of Credit

3 Months Ended

Mar. 31, 2021

Line of Credit Facility [Abstract]

Line of Credit

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 March 31, 2021 and December 31, 2020 was $5,426,790 and $7,178,791, respectively. As of the date these condensed consolidated financial statements were issued or were available to be issued the balance outstanding was approximately $6,500,000.

Restricted Stock Liabilities

3 Months Ended

Mar. 31, 2021

Restricted Stock Liabilities

Restricted Stock Liabilities

Restricted Stock Liabilities

On December 15, 2020, the Company entered into an amendment for certain restricted stock awards and units that were previously issued to certain employees in connection with a previous merger. Pursuant to the amendment, the Company committed to repurchase 1,064,549 vested restricted stock awards as of December 31, 2020 at a price of $4.00 per share in 24 equal monthly installments on the second business day of each calendar month beginning January 4, 2021, subject to certain conditions.

The following table presents the components of the restricted stock liabilities as of March 31, 2021 and December 31, 2020:

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

Fair Value Measurements

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

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) as derivative liabilities, which requires 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. The Company accounted for 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. As of December 31, 2020, there was no longer any principal or accrued but unpaid interest outstanding under the 12% Convertible Debentures since certain holders converted the debt into shares of the Company’s common stock and certain holders were paid in cash.

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

Warrant Derivative Liabilities

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

	As of March 31, 2021						As of December 31, 2020
		Strome Warrants			B. Riley Warrants			Strome Warrants			B. Riley Warrants
Expected life		2.21			4.55			2.45			4.79
Risk-free interest rate		0.16	%		0.92	%		0.13	%		0.36	%
Volatility factor		150.37	%		151.48	%		150.55	%		140.95	%
Dividend rate		0	%		0	%		0	%		0	%
Transaction date closing market price	$	0.91		$	0.91		$	0.60		$	0.60
Exercise price	$	0.50		$	1.00		$	0.50		$	1.00

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

	As of and for the Three Months Ended March 31, 2021						As of and for the Three Months Ended March 31, 2020
	Carry Amount at Beginning of Period		Change in Valuation		Carrying Amount at End of Period		Carry Amount at Beginning of Period		Change in Valuation			Carrying Amount at End of Period
Strome Warrants	$	704,707	$	398,861	$	1,103,568	$	1,036,687	$	(110,081	)	$	926,606
B. Riley Warrants		443,188		266,175		709,363		607,513		(29,138	)		578,375
Total	$	1,147,895	$	665,036	$	1,812,931	$	1,644,200	$	(139,219	)	$	1,504,981

For the three months ended March 31, 2021 and 2020, the change in valuation of warrant derivative liabilities recognized as other income (expense) on the condensed consolidated statement of operations, as described in the above table, was ($665,036) and $139,219, respectively.

Embedded Derivative Liabilities

For the three months ended March 30, 2020, the change in valuation of embedded derivative liabilities recognized as other income on the condensed consolidated statements of operations was $1,621,000.

- 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

Long-term Debt

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Long-term Debt

Long-term Debt

12% Second Amended Senior Secured Notes

Below is a summary of the various amended and restated notes, as well as various amendments thereto, to the 12% senior secured note that was originally issued on June 10, 2019, for gross proceeds of $20,000,000. The transactions leading up to the 12% second amended and restated note that is outstanding as of March 31, 2021 consisted of:

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

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

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

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

●

First amendment to second amended and restated note issued on March 24, 2020 was entered into on October 23, 2020 (“Amendment 1”), where the maturity date was changed to December 31, 2022, subject to certain acceleration conditions and interest payable on the notes on September 30, 2020, December 31, 2020, March 31, 2021, June 30, 2021, September 30, 2021, and December 31, 2021 will be payable in-kind in arrears on the last day of such fiscal quarter. Alternatively, at the option of the holder, such interest amounts originally could have been paid in shares of Series K convertible preferred stock (the “Series K Preferred Stock”); however, after December 18, 2020, the date the Series K Preferred Stock converted into shares of the Company’s common stock, such interest amounts can be converted into shares of the Company’s common stock based upon the conversion rate specified in the Certificate of Designation for the Series K Preferred Stock, subject to certain adjustments.

Collectively the amended and restated notes and amendments thereto and the second amended and restated notes and Amendment 1 thereto are referred to as the “12% Second Amended Senior Secured Notes,” with all borrowings collateralized by substantially all assets of the Company.

Delayed Draw Term Note

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

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

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

Paycheck Protection Program Loan

On April 6, 2020, the Company entered into a note agreement with JPMorgan Chase Bank, N.A. (“JPMorgan Chase”) under the recently enacted Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) administered by the U.S. Small Business Administration (“SBA”) (the “Paycheck Protection Program Loan”). The Company received total proceeds of $5,702,725 under the Paycheck Protection Program Loan. In accordance with the requirements of the CARES Act, the Company used proceeds from the Paycheck Protection Program Loan primarily for payroll costs. The Paycheck Protection Program Loan was scheduled to mature on April 6, 2022, with a 0.98% interest rate and is subject to the terms and conditions applicable to loans administered by the SBA under the CARES Act. The Paycheck Protection Program Loan was fully forgiven on June 22, 2021.

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

The following table summarizes the long-term debt:

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

Stockholders' Equity

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

Common Stock

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

Common Stock Warrants

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

The Financing Warrants outstanding and exercisable as of March 31, 2021 are summarized as follows:

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

The intrinsic value of exercisable but unexercised in-the-money stock warrants as of March 31, 2021 was $847,518, based on a fair market value of the Company’s common stock of $0.91 per share on March 31, 2021.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Compensation Plans

3 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

Compensation Plans

10.

Compensation Plans

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

Stock-based compensation and equity-based expense charged to operations or capitalized during the three months ended March 31, 2021 and 2020 are summarized as follows:

	Restricted		Common		Common				Publisher
	Stock		Stock		Equity		Outside		Partner		ABG
	Awards		Awards		Awards		Options		Warrants		Warrants		Totals
During the Three Months Ended March 31, 2021
Cost of revenue	$	24,460	$	127,063	$	1,290,374	$	2,041	$	-	$	-	$	1,443,938
Selling and marketing		-		5,038		971,513		74,806		-		-		1,051,357
General and administrative		3,445		117,327		2,126,615		-		-		356,330		2,603,717
Total costs charged to operations		27,905		249,428		4,388,502		76,847		-		356,330		5,099,012
Capitalized platform development		4,823		2,720		300,034		1,618		-		-		309,195
Total stock-based compensation	$	32,728	$	252,148	$	4,688,536	$	78,465	$	-	$	356,330	$	5,408,207

During the Three Months Ended March 31, 2020
Cost of revenue	$	37,576	$	69,796	$	1,009,592	$	1,206	$	8,039	$	-	$	1,126,209
Selling and marketing		299,215		35,728		678,279		55,378		-		-		1,068,600
General and administrative		22,920		171,672		755,247		55,183		-		360,289		1,365,311
Total costs charged to operations		359,711		277,196		2,443,118		111,767		8,039		360,289		3,560,120
Capitalized platform development		70,283		41,157		256,001		2,611		-		-		370,052
Total stock-based compensation	$	429,994		318,353	$	2,699,119	$	114,378	$	8,039	$	360,289	$	3,930,172

Unrecognized compensation expense and expected weighted-average period to be recognized related to the stock-based compensation awards and equity-based awards as of March 31, 2021 was as follows:

	Restricted		Common		Common				Publisher
	Stock		Stock		Equity		Outside		Partner		ABG
	Awards		Awards		Awards		Options		Warrants		Warrants		Totals
Unrecognized compensation expense	$	48,891	$	226,834	$	67,977,275	$	292,584	$	-	$	2,857,773	$	71,403,357
Expected weighted-average period expected to be recognized (in years)		0.70		0.44		2.46		0.94		-		2.13		2.43

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

Revenue Recognition

3 Months Ended

Mar. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue Recognition

11.

Revenue Recognition

Disaggregation of Revenue

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

	As of March 31,
	2021		2020
Revenue by product line:
Advertising	$	11,074,425	$	11,837,984
Digital subscriptions		7,084,481		5,537,247
Magazine circulation		14,710,023		12,537,532
Other		746,552		500,090
Total	$	33,615,481	$	30,412,853
Revenue by geographical market:
United States	$	32,528,417	$	29,282,130
Other		1,087,064		1,130,723
Total	$	33,615,481	$	30,412,853
Revenue by timing of recognition:
At point in time	$	26,531,000	$	24,875,606
Over time		7,084,481		5,537,247
Total	$	33,615,481	$	30,412,853

Contract Balances

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

The following table provides information about contract balances:

	As of
	March 31, 2021		December 31, 2020
Unearned revenue (short-term contract liabilities):
Digital subscriptions	$	16,815,476	$	15,039,331
Magazine circulation		49,047,713		46,586,345
	$	65,863,189	$	61,625,676
Unearned revenue (long-term contract liabilities):
Digital subscriptions	$	802,124	$	593,136
Magazine circulation		27,297,916		22,712,961
Other		200,000		192,500
	$	28,300,040	$	23,498,597

Unearned Revenue – 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 $22,071,978 was recognized during the three months ended March 31, 2021 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
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-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

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+ Details

Commitments and Contingencies

3 Months Ended

Mar. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

12.

Commitments and Contingencies

Revenue Guarantees

On a select basis, the Company has provided revenue share guarantees to certain independent publishers that transition their publishing operations from another platform to theMaven.net or maven.io. These arrangements generally guarantee the publisher a monthly amount of income for a period of 12 to 24 months from inception of the publisher contract that is the greater of (a) a fixed monthly minimum, or (b) the calculated earned revenue share. For the three months ended March 31, 2021 and 2020, the Company recognized publisher partner guarantees of $1,763,357 and $2,374,087, respectively.

Claims and Litigation

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

Liquidated Damages

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

	Registration Rights Damages		Public Information Failure Damages		Accrued Interest		Balance
Series H Preferred Stock	$	-	$	5,236	$	93,575	$	98,811
12% Convertible Debentures		-		-		36,320		36,320
Series I Preferred Stock		-		-		111,184		111,184
Series J Preferred Stock		240,000		240,000		108,059		588,059
Series K Preferred Stock		-		661,680		11,221		672,901
Total	$	240,000	$	906,916	$	360,359	$	1,507,275

Subsequent Events

3 Months Ended

Mar. 31, 2021

Subsequent Events [Abstract]

Subsequent Events

13.

Subsequent Events

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

Compensation Plans

From April 2021 through the date these condensed consolidated financial statements were issued or were available to be issued, the Company granted common stock options, restricted stock units and restricted stock awards totaling 6,153,053, all of which remain outstanding.

Long-term Debt

12% Second Amended Senior Secured Notes – On May 19, 2021, the Company entered into an amendment to the second amended and restated note purchase agreement (“Amendment 2”) with BRF Finance Co., LLC, an affiliated entity of B. Riley Financial, Inc., in its capacity as agent for the purchasers and as purchaser, which further amended the 12% Second Amended Senior Secured Notes, dated March 24, 2020, as amended. Pursuant to Amendment 2: (i) the interest rate on the 12% Second Amended Senior Secured Notes decreased from a rate of 12% per annum to a rate of 10% per annum; and (ii) the Company agreed that within one (1) business day after receipt of cash proceeds from any issuance of equity interests, it will prepay the certain obligations in an amount equal to such cash proceeds, net of underwriting discounts and commissions; provided, that, this mandatory prepayment obligation does not apply to any proceeds that the Company received from shares of the Company’s common stock issued pursuant to the securities purchase agreement (as further described below under the heading Common Stock) during the 90-day period commencing on May 20, 2021.

The balance outstanding under the 12% Second Amended Senior Secured Notes as of the date these condensed consolidated financial statements were issued or were available to be issued was approximately $60.1 million, which included outstanding principal of approximately $48.8 million, payment of in-kind interest of approximately $10.8 million that the Company was permitted to add to the aggregate outstanding principal balance, and unpaid accrued interest of approximately $0.5 million.

Delayed Draw Term Note – On May 19, 2021, pursuant to Amendment 2, the interest rate on the Delayed Draw Term Note decreased from a rate of 15% per annum to a rate of 10% per annum.

The balance outstanding under the Delayed Draw Term Note as of the date these condensed consolidated financial statements were issued or were available to be issued was approximately $4.6 million, which included outstanding principal of approximately $3.5 million, and payment of in-kind interest of approximately $1.1 million that the Company was permitted to add to the aggregate outstanding principal balance.

Paycheck Protection Program Loan – On June 22, 2021, the SBA authorized full forgiveness of $5,702,725 under the Paycheck Protection Program Loan; thus the Company will not need to make any payments on the Paycheck Protection Program Loan that JPMorgan Chase facilitates as an SBA lender. JPMorgan Chase will apply the forgiveness amount the SBA authorized, plus all accrued interest, to the Company’s Paycheck Protection Program Loan. The requirements under this program are established by the SBA. All requests for Paycheck Protection Program Loan forgiveness are subject to SBA eligibility.

Preferred Stock

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

Common Stock

On May 20, 2021 and May 25, 2021, the Company entered into securities purchase agreements with several accredited investors, pursuant to which the Company sold an aggregate of 21,435,718 shares of its common stock, at a per share price of $0.70 for aggregate gross proceeds of approximately $15.0 million in a private placement. On June 2, 2021, the Company entered into a securities purchase agreement with an accredited investor, pursuant to which the Company sold an aggregate of 7,142,857 shares of its common stock, at a per share price of $0.70 for gross proceeds of approximately $5.0 million in a private placement that was in addition to the closings that occurred on May 20, 2021 and May 25, 2021 as referenced above. The Company intends to use the proceeds for general corporate purposes.

Pursuant to the registration rights agreements entered into in connection with the securities purchase agreements, the Company agreed to register the shares of the Company’s common stock issued in the private placements. The Company committed to file the registration statement on the earlier of: (i) in the event the Company does not obtain a waiver from the holders of the shares of the Company’s common stock that were issued upon the conversion of the Series K Preferred Stock (the “Waiver”), within ten (10) calendar days following the date the Company’s registration statement(s) on Form S-1, registering for resale shares of the Company’s common stock that were issued in connection with offerings prior to the date of the registration rights agreement (the “Prior Registration Statements”), is declared effective by the SEC; and (ii) in the event the Company does obtain the Waiver, the earliest practicable date on which the Company is permitted by the SEC guidance to file the initial registration statement following the filing of the Prior Registration Statements (the “Filing Date”). The Company also committed to cause the registration statement to become effective by no later than 90 days after the Filing Date (or, in the event of a full review by the staff of the SEC, 120 days following the Filing Date). The registration rights agreement provides for Registration Rights Damages upon the occurrence of certain events up to a maximum amount of 6% of the aggregate amount invested pursuant to the securities purchase agreements.

The securities purchase agreements included a provision that requires the Company to maintain its periodic filings with the SEC in order to satisfy the public information requirements under Rule 144(c) of the Securities Act. If the Company fails for any reason to satisfy the current public information requirement at any time during the period commencing from the twelve (12) month anniversary of the date the Company becomes current in its filing obligations and ending at such time that all of the common stock may be sold without the requirement for the Company to be in compliance with Rule 144(c)(1) and otherwise without restriction or limitation pursuant to Rule 144, if the Company (i) shall fail for any reason to satisfy the current public information requirement under Rule 144(c) or (ii) has ever been an issuer described in Rule 144(i)(1)(i) or becomes an issuer in the future, and the Company shall fail to satisfy any condition set forth in Rule 144(i)(2) (a “Public Information Failure”) then, in addition to such purchaser’s other available remedies, the Company shall pay to a purchaser, in cash, as partial liquidated damages and not as a penalty, an amount in cash equal to one percent (1.0%) of the aggregate subscription amount of the purchaser’s shares then held by the purchaser on the day of a Public Information Failure and on every thirtieth (30th) day (pro-rated for periods totaling less than thirty days) thereafter until the earlier of (a) the date such Public Information Failure is cured up to a maximum of five (5) 30-day periods and (b) such time that such public information is no longer required for the purchasers to transfer the shares pursuant to Rule 144. Public Information Failure Damages shall be paid on the earlier of (i) the last day of the calendar month during which such Public Information Failure Damages are incurred and (ii) the third (3rd) business day after the event or failure giving rise to the Public Information Failure Damages is cured. In the event the Company fails to make Public Information Failure Damages in a timely manner, such Public Information Failure Damages shall bear interest at the rate of 1.0% per month (prorated for partial months) until paid in full.

Heckman Stock Option Modifications

On June 3, 2021, the Company and Mr. Heckman, the Company’s former Chief Executive Officer, entered into an amendment to certain option grants under the Company’s 2016 Plan and 2019 Plan. The amendment to the 2016 Plan options, clarifies that the option qualifies as a non-statutory stock option and that it remains exercisable for the remainder of the term of the option. The amendment to the 2019 Plan options, clarifies that the option qualifies as a non-statutory stock option and that it remains exercisable for the remainder of the term of the option. The 2019 Plan amendment also changed the vesting schedule of the option to provide for immediate vesting of 2,000,000 shares of options, with the remainder of the options being subject to performance-based vesting that is tied to the price of the Company’s common stock.

Acquisition of College Spun Media Incorporated

On June 4, 2021, the Company acquired all of the issued and outstanding shares of capital stock of College Spun Media Incorporated for an aggregate of $11.0 million in cash and the issuance of an aggregate of 4,285,714 restricted shares of the Company’s common stock, with one-half of the shares vesting on the first anniversary of the closing date and the remaining one-half of the shares vesting on the second anniversary of the closing date. The cash payment consists of: (i) $10.8 million paid at closing (additional cash paid at closing of $0.8 million represents adjusted cash pursuant to the agreement), and (ii) $0.5 million to be paid on the first anniversary of the closing and $0.5 million to be paid on the second anniversary date of the closing, subject to a customary working capital adjustment based on cash and accounts receivable as of the closing date. The vesting of shares of the Company’s common stock is subject to the continued employment of certain selling employees.

Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Basis of Presentation

Reclassifications

Reclassifications

Certain prior year amounts have been reclassified to conform to the fiscal 2020 presentation.

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 March 31,
	2021		2020
Series G convertible preferred stock		188,791		188,791
Series H Preferred Stock		59,384,849		58,787,879
Series I Preferred Stock		-		46,200,000
Series J Preferred Stock		-		28,571,428
Indemnity shares of common stock		-		412,500
Restricted Stock Awards		316,667		1,991,665
Financing Warrants		2,882,055		2,882,055
ABG Warrants		21,989,844		21,989,844
AllHipHop warrants		125,000		-
Publisher Partner Warrants		789,541		939,540
Restricted Stock Units		-		2,399,997
Common Stock Awards		7,078,723		8,063,811
Common Equity Awards		157,945,671		77,106,507
Outside Options		3,050,000		3,730,667
Total		253,751,141		253,264,684

- 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
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-SubTopic 10
-Section 50
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130561-203045

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Schedule of Net Income (Loss) Per Common Share

	As of March 31,
	2021		2020
Series G convertible preferred stock		188,791		188,791
Series H Preferred Stock		59,384,849		58,787,879
Series I Preferred Stock		-		46,200,000
Series J Preferred Stock		-		28,571,428
Indemnity shares of common stock		-		412,500
Restricted Stock Awards		316,667		1,991,665
Financing Warrants		2,882,055		2,882,055
ABG Warrants		21,989,844		21,989,844
AllHipHop warrants		125,000		-
Publisher Partner Warrants		789,541		939,540
Restricted Stock Units		-		2,399,997
Common Stock Awards		7,078,723		8,063,811
Common Equity Awards		157,945,671		77,106,507
Outside Options		3,050,000		3,730,667
Total		253,751,141		253,264,684

Acquisition (Tables) - Petametrics Inc [Member]

3 Months Ended

Mar. 31, 2021

Schedule of Purchase Price

The composition of the purchase price is as follows:

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

Summary of Price Allocation for Acquisition

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)

3 Months Ended

Mar. 31, 2021

Balance Sheet Components Tables Abstract

Schedule of Property and Equipment

Property and equipment are summarized as follows:

	As of
	March 31, 2021			December 31, 2020
Office equipment and computers	$	1,439,071		$	1,341,292
Furniture and fixtures		19,997			19,997
Leasehold improvements		345,516			345,516
		1,804,584			1,706,805
Less accumulated depreciation and amortization		(687,181	)		(577,367	)
Net property and equipment	$	1,117,403		$	1,129,438

Summary of Platform Development Costs

Platform development costs are summarized as follows:

	As of
	March 31, 2021			December 31, 2020
Platform development	$	17,204,336		$	16,027,428
Less accumulated amortization		(9,740,665	)		(8,671,820	)
Net platform development	$	7,463,671		$	7,355,608

Summary of Platform Development Cost Activity

A summary of platform development activity for the three months ended March 31, 2021 and year ended December 31, 2020 is as follows:

	As of
	March 31, 2021		December 31, 2020
Platform development beginning of period	$	16,027,428	$	10,678,692
Payroll-based costs capitalized during the period		867,713		3,750,541
Total capitalized costs		16,895,141		14,429,233
Stock-based compensation		309,195		1,608,995
Dispositions		-		(10,800	)
Platform development end of period	$	17,204,336	$	16,027,428

Schedule of Intangible Assets Subjects to Amortization

Intangible assets subject to amortization consisted of the following:

	As of March 31, 2021							As of December 31, 2020
	Carrying Amount		Accumulated Amortization			Net Carrying Amount		Carrying Amount		Accumulated Amortization			Net Carrying Amount
Developed technology	$	19,070,857	$	(9,381,310	)	$	9,689,547	$	19,070,857	$	(8,283,740	)	$	10,787,117
Noncompete agreement		480,000		(480,000	)		-		480,000		(480,000	)		-
Trade name		3,328,000		(572,992	)		2,755,008		3,328,000		(503,342	)		2,824,658
Subscriber relationships		73,458,799		(21,734,342	)		51,724,457		73,458,799		(18,105,041	)		55,353,758
Advertiser relationships		2,240,000		(391,984	)		1,848,016		2,240,000		(332,515	)		1,907,485
Database		1,140,000		(626,183	)		513,817		1,140,000		(531,183	)		608,817
Subtotal amortizable intangible assets		99,717,656		(33,186,811	)		66,530,845		99,717,656		(28,235,821	)		71,481,835
Website domain name		20,000		-			20,000		20,000		-			20,000
Total intangible assets	$	99,737,656	$	(33,186,811	)	$	66,550,845	$	99,737,656	$	(28,235,821	)	$	71,501,835

Leases (Tables)

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Schedule of Supplemental Information Related to Operating Leases

The table below presents supplemental information related to operating leases:

Three Months Ended March 31, 2021
Operating cash flows for operating leases	$	968,473
Noncash lease liabilities arising from obtaining operating leased assets during the period	$	-
Weighted-average remaining lease term		11.02
Weighted-average discount rate		13.58	%

Summary of Maturity of Lease Liabilities

Maturities of operating lease liabilities as of March 31, 2021 are summarized as follows:

Years Ending December 31,
2021 (remaining nine months of the year)	$	2,836,380
2022		3,525,158
2023		3,528,696
2024		3,526,406
2025		3,740,591
Thereafter		23,822,981
Minimum lease payments		40,980,212
Less imputed interest		(20,277,693	)
Present value of operating lease liabilities	$	20,702,519
Current portion of operating lease liabilities	$	1,022,294
Long-term portion of operating lease liabilities		19,680,225
Total operating lease liabilities	$	20,702,519

Restricted Stock Liabilities (Tables)

3 Months Ended

Mar. 31, 2021

Restricted Stock Liabilities

Schedule of Components of Restricted Stock Liabilities

The following table presents the components of the restricted stock liabilities as of March 31, 2021 and December 31, 2020:

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

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Warrant Derivative Liabilities

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

	As of March 31, 2021						As of December 31, 2020
		Strome Warrants			B. Riley Warrants			Strome Warrants			B. Riley Warrants
Expected life		2.21			4.55			2.45			4.79
Risk-free interest rate		0.16	%		0.92	%		0.13	%		0.36	%
Volatility factor		150.37	%		151.48	%		150.55	%		140.95	%
Dividend rate		0	%		0	%		0	%		0	%
Transaction date closing market price	$	0.91		$	0.91		$	0.60		$	0.60
Exercise price	$	0.50		$	1.00		$	0.50		$	1.00

Schedule of Valuation Activity for Warrants Accounted for Derivative Liability

	As of and for the Three Months Ended March 31, 2021						As of and for the Three Months Ended March 31, 2020
	Carry Amount at Beginning of Period		Change in Valuation		Carrying Amount at End of Period		Carry Amount at Beginning of Period		Change in Valuation			Carrying Amount at End of Period
Strome Warrants	$	704,707	$	398,861	$	1,103,568	$	1,036,687	$	(110,081	)	$	926,606
B. Riley Warrants		443,188		266,175		709,363		607,513		(29,138	)		578,375
Total	$	1,147,895	$	665,036	$	1,812,931	$	1,644,200	$	(139,219	)	$	1,504,981

Long-term Debt (Tables)

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Schedule of Long Term Debt

The following table summarizes the long-term debt:

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

- 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
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-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-Section 55
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 942
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-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644

+ Details

Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Schedule of Common Stock Financing Warrants Outstanding and Exercisable

The Financing Warrants outstanding and exercisable as of March 31, 2021 are summarized as follows:

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

Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

Summary of Stock-based Compensation

Stock-based compensation and equity-based expense charged to operations or capitalized during the three months ended March 31, 2021 and 2020 are summarized as follows:

	Restricted		Common		Common				Publisher
	Stock		Stock		Equity		Outside		Partner		ABG
	Awards		Awards		Awards		Options		Warrants		Warrants		Totals
During the Three Months Ended March 31, 2021
Cost of revenue	$	24,460	$	127,063	$	1,290,374	$	2,041	$	-	$	-	$	1,443,938
Selling and marketing		-		5,038		971,513		74,806		-		-		1,051,357
General and administrative		3,445		117,327		2,126,615		-		-		356,330		2,603,717
Total costs charged to operations		27,905		249,428		4,388,502		76,847		-		356,330		5,099,012
Capitalized platform development		4,823		2,720		300,034		1,618		-		-		309,195
Total stock-based compensation	$	32,728	$	252,148	$	4,688,536	$	78,465	$	-	$	356,330	$	5,408,207

During the Three Months Ended March 31, 2020
Cost of revenue	$	37,576	$	69,796	$	1,009,592	$	1,206	$	8,039	$	-	$	1,126,209
Selling and marketing		299,215		35,728		678,279		55,378		-		-		1,068,600
General and administrative		22,920		171,672		755,247		55,183		-		360,289		1,365,311
Total costs charged to operations		359,711		277,196		2,443,118		111,767		8,039		360,289		3,560,120
Capitalized platform development		70,283		41,157		256,001		2,611		-		-		370,052
Total stock-based compensation	$	429,994		318,353	$	2,699,119	$	114,378	$	8,039	$	360,289	$	3,930,172

Schedule of Unrecognized Compensation Expense

Unrecognized compensation expense and expected weighted-average period to be recognized related to the stock-based compensation awards and equity-based awards as of March 31, 2021 was as follows:

	Restricted		Common		Common				Publisher
	Stock		Stock		Equity		Outside		Partner		ABG
	Awards		Awards		Awards		Options		Warrants		Warrants		Totals
Unrecognized compensation expense	$	48,891	$	226,834	$	67,977,275	$	292,584	$	-	$	2,857,773	$	71,403,357
Expected weighted-average period expected to be recognized (in years)		0.70		0.44		2.46		0.94		-		2.13		2.43

Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2021

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

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

	As of March 31,
	2021		2020
Revenue by product line:
Advertising	$	11,074,425	$	11,837,984
Digital subscriptions		7,084,481		5,537,247
Magazine circulation		14,710,023		12,537,532
Other		746,552		500,090
Total	$	33,615,481	$	30,412,853
Revenue by geographical market:
United States	$	32,528,417	$	29,282,130
Other		1,087,064		1,130,723
Total	$	33,615,481	$	30,412,853
Revenue by timing of recognition:
At point in time	$	26,531,000	$	24,875,606
Over time		7,084,481		5,537,247
Total	$	33,615,481	$	30,412,853

Schedule of Contract with Customer, Asset and Liability

The following table provides information about contract balances:

	As of
	March 31, 2021		December 31, 2020
Unearned revenue (short-term contract liabilities):
Digital subscriptions	$	16,815,476	$	15,039,331
Magazine circulation		49,047,713		46,586,345
	$	65,863,189	$	61,625,676
Unearned revenue (long-term contract liabilities):
Digital subscriptions	$	802,124	$	593,136
Magazine circulation		27,297,916		22,712,961
Other		200,000		192,500
	$	28,300,040	$	23,498,597

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of Liquidating Damages

	Registration Rights Damages		Public Information Failure Damages		Accrued Interest		Balance
Series H Preferred Stock	$	-	$	5,236	$	93,575	$	98,811
12% Convertible Debentures		-		-		36,320		36,320
Series I Preferred Stock		-		-		111,184		111,184
Series J Preferred Stock		240,000		240,000		108,059		588,059
Series K Preferred Stock		-		661,680		11,221		672,901
Total	$	240,000	$	906,916	$	360,359	$	1,507,275

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

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

Acquisition - Schedule of Preliminary Purchase Price (Details) - USD ($)		3 Months Ended
	Mar. 09, 2020	Mar. 31, 2021	Mar. 31, 2020
Cash			$ 315,289
Petametrics Inc. [Member]
Cash	$ 315,289
Indemnity restricted stock units for shares of common stock	500,000
Total purchase consideration	$ 815,289

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

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

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

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

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

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

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

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

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

Line of Credit (Details Narrative) - USD ($)	Feb. 27, 2020	Mar. 31, 2021	Dec. 31, 2020
Line of credit, outstanding amount		$ 6,500,000
Financing and Security Agreement [Member]
Line of credit maturity date	Feb. 06, 2022
Line of credit, outstanding amount		$ 5,426,790	$ 7,178,791
Financing and Security Agreement [Member] \| LIBOR Rate Plus [Member]
Line of credit interest rate	8.50%
Financing and Security Agreement [Member] \| FastPay Credit Facility [Member]
Line of credit	$ 15,000,000

- 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

Restricted Stock Liabilities (Details Narrative) - $ / shares		3 Months Ended
	Dec. 15, 2020	Mar. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Number of shares vested	1,064,549	1,064,549
Purchase price per share	$ 4.00	$ 4.00

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

Restricted Stock Liabilities - Schedule of Components of Restricted Stock Liabilities (Details) (Parenthetical) - $ / shares		3 Months Ended
	Dec. 15, 2020	Mar. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Number of shares vested	1,064,549	1,064,549
Purchase price per share	$ 4.00	$ 4.00

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

Fair Value Measurements - Schedule of warrant derivative liabilities (Details)	Mar. 31, 2021	Dec. 31, 2020
Expected Life [Member] \| Strome Warrants [Member]
Warrants term	2 years 2 months 16 days	2 years 5 months 12 days
Expected Life [Member] \| B. Riley Warrants [Member]
Warrants term	4 years 6 months 18 days	4 years 9 months 14 days
Measurement Input, Risk Free Interest Rate [Member] \| Strome Warrants [Member]
Warrants measurement input	0.0016	0.0013
Measurement Input, Risk Free Interest Rate [Member] \| B. Riley Warrants [Member]
Warrants measurement input	0.0092	0.0036
Volatility Factor [Member] \| Strome Warrants [Member]
Warrants measurement input	1.5037	1.5055
Volatility Factor [Member] \| B. Riley Warrants [Member]
Warrants measurement input	1.5148	1.4095
Dividend Rate [Member] \| Strome Warrants [Member]
Warrants measurement input	0	0
Dividend Rate [Member] \| B. Riley Warrants [Member]
Warrants measurement input	0	0
Transaction Date Closing Market [Member] \| Strome Warrants [Member]
Warrants measurement input	0.0091	0.0060
Transaction Date Closing Market [Member] \| B. Riley Warrants [Member]
Warrants measurement input	0.0091	0.0060
Exercise Price [Member] \| Strome Warrants [Member]
Warrants measurement input	0.50	0.50
Exercise Price [Member] \| B. Riley Warrants [Member]
Warrants measurement input	1.00	1.0

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

Long-term Debt (Details Narrative) - USD ($)							3 Months Ended
Long-term Debt (Details Narrative) - USD ($)	Apr. 06, 2020	Mar. 24, 2020	Feb. 27, 2020	Aug. 27, 2019	Jun. 14, 2019	Jun. 10, 2019	Mar. 31, 2021
Delayed Draw Term Note [Member]
Debt maturity date							Mar. 31, 2022
12% Senior Secured Note [Member]
Proceeds from issuance of debt						$ 20,000,000
12% Senior Secured Note [Member] \| Amended and Restated Note Purchase Agreement [Member]
Debt maturity date						Oct. 14, 2022
Proceeds from issuance of debt					$ 48,000,000	$ 68,000,000
12% Amended Senior Secured Note [Member]
Debt maturity date							Dec. 31, 2022
Proceeds from issuance of debt			$ 3,000,000	$ 3,000,000
12% Amended Senior Secured Note [Member] \| Delayed Draw Term Note [Member]
Debt maturity date		Mar. 31, 2021
Proceeds from issuance of debt		$ 6,913,865
Principal amount of debt		$ 12,000,000
Debt instrument interest rate		15.00%
Legal fees		$ 793,109
Net proceeds from issuance of debt		6,000,000
12% Amended Senior Secured Note [Member] \| Delayed Draw Term Note [Member] \| Maximum [Member]
Principal amount of debt		$ 8,000,000
Payroll Protection Program Loan [Member]
Debt maturity date	Apr. 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 ($)	Mar. 31, 2021	Dec. 31, 2020
Principal Balance (including accrued interest)	$ 68,158,824	$ 66,293,134
Unamortized discount and debt issuance cost	(3,404,626)	(4,098,862)
Carrying value	64,754,198	62,194,272
Delayed Draw Term Note [Member]
Principal Balance (including accrued interest)	4,457,153	4,294,318
Unamortized discount and debt issuance cost	(47,883)	(359,172)
Carrying value	4,409,270	3,935,146
12% Amended Senior Secured Note [Member]
Principal Balance (including accrued interest)	57,984,974	56,296,091
Unamortized discount and debt issuance cost	(3,356,743)	(3,739,690)
Carrying value	54,628,231	52,556,401
Payroll Protection Program Loan [Member]
Principal Balance (including accrued interest)	5,716,697	5,702,725
Unamortized discount and debt issuance cost
Carrying value	$ 5,716,697	$ 5,702,725

Long-term Debt - Schedule of Long Term Debt (Details) (Parenthetical)			3 Months Ended
	Apr. 06, 2020	Mar. 24, 2020	Mar. 31, 2021
Delayed Draw Term Note [Member]
Debt maturity date			Mar. 31, 2022
12% Amended Senior Secured Note [Member]
Debt maturity date			Dec. 31, 2022
12% Amended Senior Secured Note [Member] \| Delayed Draw Term Note [Member]
Debt maturity date		Mar. 31, 2021
Payroll Protection Program Loan [Member]
Debt maturity date	Apr. 06, 2022		Apr. 06, 2022

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

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

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

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

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

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

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

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

- Definition

+ References

+ Details

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

Subsequent Events (Details Narrative) - USD ($)									1 Months Ended	3 Months Ended
Subsequent Events (Details Narrative) - USD ($)	Jun. 22, 2021	Jun. 04, 2021	Jun. 03, 2021	Jun. 02, 2021	May 25, 2021	May 20, 2021	May 19, 2021	May 04, 2021	Apr. 30, 2021	Mar. 31, 2021	Mar. 31, 2020	Mar. 24, 2020
Share issued price per share										$ 0.91
Cash payment											$ 315,289
12% Amended Senior Secured Note [Member] \| Delayed Draw Term Note [Member]
Principal amount of debt												$ 12,000,000
Debt interest rate												15.00%
Subsequent Event [Member] \| College Spun Media Incorporated [Member]
Aggregate cash		$ 11,000,000
Restricted shares of common stock		4,285,714
Cash payment		$ 10,800,000
Additional cash payment		800,000
Subsequent Event [Member] \| Several Accredited Investors [Member] \| Private Placement [Member]
Sale of stock, shares				7,142,857	21,445,718	21,435,718
Sale of stock price per share				$ 0.70	$ 0.70	$ 0.70
Proceeds from sale of stock				$ 5,000,000	$ 15,000,000	$ 15,000,000
Subsequent Event [Member] \| Mr. Heckman [Member] \| 2016 Plan [Member]
Number of vesting options			2,000,000
Subsequent Event [Member] \| Series L Preferred Stock [Member]
Share issued price per share								$ 0.01
Preferred stock voting rights								1,000 times the aggregate per share amount of all cash dividends, and 1,000 times the aggregate per share amount (payable in kind) of all non-cash dividends or other distributions paid to the holders of the Company's common stock. The Series L Preferred Stock will be entitled to 1,000 votes on all matters submitted to a vote of the stockholders of the Company. In the event of any merger, consolidation or other transaction in which shares of the Company's common stock are converted or exchanged, the Series L Preferred Stock will be entitled to receive 1,000 times the amount received per one share of the Company's common stock.
Subsequent Event [Member] \| Series L Preferred Stock [Member] \| Purchase Agreements [Member]
Share issued price per share								$ 4.00
Subsequent Event [Member] \| Delayed Draw Term Note [Member]
Principal amount of debt							$ 4,300,000
Subsequent Event [Member] \| 12% Amended Senior Secured Note [Member]
Licensing agreement description							The Company entered into an amendment to the 12% Second Amended Senior Secured Notes ("Amendment 1"), pursuant to which the maturity date of the 12% Second Amended Senior Secured Notes was changed to December 31, 2022, subject to certain acceleration conditions. Pursuant to Amendment 1, interest payable on the 12% Second Amended Senior Secured Notes on September 30, 2020, December 31, 2020, March 31, 2021, June 30, 2021, September 30, 2021, and December 31, 2021 will be payable in-kind in arrears on the last day of such fiscal quarter. Alternatively, at the option of the holder, such interest amounts originally could have been paid in shares of Series K Preferred Stock; however, after December 18, 2020, the date the Series K Preferred Stock converted into shares of the Company's common stock, all such interest amounts can be paid in shares of the Company's common stock based upon the conversion rate specified for the Series K Preferred Stock (or $0.40).
Number of shares issued during period, shares							60,100,000
Principal amount of debt							$ 48,800,000
Payment of in-kind interest							108,000,000
Accrued interest							$ 500,000
Subsequent Event [Member] \| 12% Amended Senior Secured Note [Member] \| Delayed Draw Term Note [Member]
Licensing agreement description							The interest rate on the Delayed Draw Term Note decreased from a rate of 15% per annum to a rate of 10% per annum.
Repayments of debt							$ 1,100,000
Subsequent Event [Member] \| 12% Amended Senior Secured Notes [Member]
Debt interest rate							10.00%
Subsequent Event [Member] \| PPP Loan [Member]
Debt forgiveness	$ 5,702,725
Subsequent Event [Member] \| Common Stock Options and Restricted Stock Units [Member]
Number of Shares Common stock options, Granted									6,153,053
Subsequent Event [Member] \| First Anniversary [Member] \| College Spun Media Incorporated [Member]
Cash payment		500,000
Subsequent Event [Member] \| Second Anniversary [Member] \| College Spun Media Incorporated [Member]
Cash payment		$ 500,000