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Related Party Transactions
12 Months Ended
Dec. 31, 2016
Related Party Transactions [Abstract]  
Related Party Transactions

NOTE 15 – RELATED PARTY TRANSACTIONS

 

The Company and an affiliate of one of the Company’s principal stockholders entered into an agreement in November 2015 pursuant to which the Company agreed, subject to certain conditions, to pay in the aggregate, up to $15,000 in recoupable advanced royalties and non-recoupable license fees. As of December 31, 2016, the Company had paid the full amount of $15,000, as all payment milestones were achieved. 

 

During the year ended December 31, 2016, the Company recorded an impairment of $14,463 for un-recouped advanced royalties and non-recoupable license fees that were paid to an affiliate of one of the Company’s principal stockholders, due to the underperformance of the Company’s Rival Fire title which launched during the third quarter of 2016 and the negligible cash flows anticipated for the remaining contractual life of these assets.