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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Total revenues $ 8,744,829 $ 8,127,029 $ 17,992,539 $ 12,919,088
Operating expenses        
Operating expenses 12,409,390 14,070,498 36,776,959 29,053,220
Hotel operating expenses 1,814,053 1,809,635 4,860,876 4,278,897
Depreciation expense 4,559,899 2,650,719 10,486,335 9,420,585
Total operating expenses 18,783,342 18,530,852 52,124,170 42,752,702
Loss from operations (10,038,513) (10,403,823) (34,131,631) (29,833,614)
Other income (expense)        
Interest expense, net (6,026,801) (1,670,377) (14,063,584) (3,805,310)
Amortization of discount on note payable (1,419,684) (1,132,440) (3,157,815) (3,610,738)
Other income 148,796 537,158 148,796 537,158
Change in fair value of warrant liability 968,000 1,838,000 507,000 9,011,000
Change in fair value of interest rate swap 203,850 (128,000) 163,850 (128,000)
Change in fair value of investments available for sale 1,683,246
Loss on extinguishment of debt (148,472)
Total other (expense) income (6,125,839) (555,659) (14,718,507) 1,855,638
Net loss (16,164,352) (10,959,482) (48,850,138) (27,977,976)
Preferred stock dividends (266,000) (266,000) (798,000) (798,000)
Loss attributable to non-controlling interest 11,277 101,202 65,649 337,166
Net loss attributable to HOFRE stockholders $ (16,419,075) $ (11,124,280) $ (49,582,489) $ (28,438,810)
Net loss per share, basic (in Dollars per share) $ (2.89) $ (2.07) $ (8.77) $ (5.57)
Weighted average shares outstanding, basic (in Shares) 5,672,602 5,383,462 5,654,184 5,105,744
Sponsorships, net of activation costs        
Revenues        
Total revenues $ 689,753 $ 748,033 $ 2,054,464 $ 2,020,095
Event, rents and other revenues        
Revenues        
Total revenues 5,763,583 5,320,309 10,081,905 6,326,565
Hotel revenues        
Revenues        
Total revenues $ 2,291,493 $ 2,058,687 $ 5,856,170 $ 4,572,428