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Concentrations
12 Months Ended
Dec. 31, 2021
Risks and Uncertainties [Abstract]  
Concentrations

Note 10: Concentrations

 

For the year ended December 31, 2021, two customers represented approximately 75% and 19% of the Company’s sponsorship revenue. For the year ended December 31, 2020, two customers represented approximately 74% and 19% of the Company’s sponsorship revenue.

 

As of December 31, 2021, one customer represented approximately 88% of the Company’s sponsorship accounts receivable. As of December 31, 2020, two customers represented approximately 60% and 40% of the Company’s sponsorship accounts receivable.

 

At any point in time, the Company can have funds in their operating accounts and restricted cash accounts that are with third-party financial institutions. These balances in the U.S. may exceed the Federal Deposit Insurance Corporation insurance limits. While the Company monitors the cash balances in their operating accounts, these cash and restricted cash balances could be impacted if the underlying financial institutions fail or other adverse conditions in the financial markets occurs.