XML 27 R2.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
ASSETS    
Cash, cash equivalents and restricted cash of $3,292,737 and $3,706,153 respectively $ 3,316,652 $ 18,738,395
Accounts receivable, net of allowance for doubtful accounts of $7,986,617 and $1,277,597, respectively 142,088,225 113,963,425
Prepaid expenses and other current assets 10,390,282 13,196,180
Operating lease right-of-use assets 10,721,375 16,315,342
Content assets, net 71,614,094 126,090,508
Intangible assets, net 35,937,646 305,425,709
Goodwill 120,494,059 260,748,057
Other assets, net 27,738,292 29,401,793
Total assets 422,300,625 883,879,409
LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY    
Accounts payable 91,809,542 50,960,682
Accrued expenses 78,779,505 87,817,015
Programming obligations 67,573,966 55,883,788
Film library acquisition obligations 45,961,877 39,750,121
Accrued participation costs 48,276,487 28,695,713
Debt, net 546,205,200 479,653,611
Contingent consideration 5,245,384 7,311,949
Put option obligation 3,693,337 11,400,000
Operating lease liabilities 13,570,976 18,079,469
Total liabilities 925,862,510 804,131,470
Commitments and contingencies (Note 15)
Stockholders' (Deficit) Equity:    
Series A cumulative redeemable perpetual preferred stock, $.0001 par value, liquidation preference of $25.00 per share, 10,000,000 shares authorized; 6,897,048 and 4,496,345 shares issued and outstanding, respectively; redemption value of $172,426,200 and $112,408,625, respectively 689 450
Additional paid-in capital 409,150,852 355,185,280
Accumulated deficit (884,303,830) (247,752,446)
Accumulated other comprehensive income (91,657) 47,528
Class A common stock held in treasury, at cost (2,433,042 shares, respectively) (28,165,913) (28,165,913)
Total stockholders' (deficit) equity (503,406,388) 79,317,224
Noncontrolling interests (155,497) 430,715
Total (deficit) equity (503,561,885) 79,747,939
Total liabilities and equity 422,300,625 883,879,409
Affiliated Entity    
LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY    
Other liabilities 5,537,842 3,778,936
Nonrelated Party    
LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY    
Other liabilities 19,208,394 20,800,186
Class A Common Stock    
Stockholders' (Deficit) Equity:    
Common stock value 2,705 1,559
Class B Common Stock    
Stockholders' (Deficit) Equity:    
Common stock value $ 766 $ 766