Put Option Obligation

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Put Option Obligation

Note 12 – Put Option Obligation

As part of the additional purchase price for the Sonar Entertainment, Inc business acquisition, the Company issued a 5% interest in CSS AVOD, Inc and a Put Option that, if exercised, requires the Company to purchase the issued investor shares of CSS AVOD, Inc. from the investor for $11,500,000 in cash. The Put Option is exercisable, with 60 day’s written notice, by the investor at any time during a three year period commencing on October 8, 2022  and expiring on October 7, 2025 (“Put Election Period”).  

As of June 30, 2022, the 5% interest in CSS AVOD, Inc consists of the following,

	June 30,
	2022
Put Option Obligation	$	11,400,000
Noncontrolling Interests		84,247
Total	$	11,484,247