XML 14 R4.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Revenues $ 1,802,946 $ 1,693,871 $ 6,713,635 $ 5,162,356
Cost of revenues 716,723 831,479 2,154,997 2,946,382
Gross profit 1,086,223 862,392 4,558,638 2,215,974
Operating expenses:        
Sales and marketing [1] [1] 175,532 358,120 631,467 1,411,318
Development [2] [2] 848,528 1,566,839 2,780,630 5,751,741
Impairment of intangible assets 4,004,627
General and administrative [3] [3] 1,946,897 1,526,614 5,548,989 7,459,957
Depreciation and amortization 47,151 75,614 184,013 277,822
Total operating expenses 3,018,108 3,527,187 9,145,099 18,905,465
Gain from settlement of license liabilities 3,248,000
Other operating income 250,000
Loss from operations (1,931,885) (2,664,795) (1,088,461) (16,689,491)
Interest expense (29,852) (230,190) (90,480) (674,060)
Other income (expense), net 1,388,712 (639,147) 1,010,001 369,345
Net loss (573,025) (3,534,132) (168,940) (16,994,206)
Less: Net (loss) income attributable to non-controlling interest (582,852) 29,375 (1,270,382) 98,356
Net income (loss) attributable to Motorsport Games Inc. $ 9,827 $ (3,563,507) $ 1,101,442 $ (17,092,562)
Net income (loss) attributable to Class A common stock per share:        
Basic $ 0.00 $ (1.31) $ 0.39 $ (6.73)
Diluted $ 0.00 $ (1.31) $ 0.39 $ (6.73)
Weighted-average shares of Class A common stock outstanding:        
Basic 3,024,366 2,720,328 2,823,274 2,538,863
Diluted 3,024,366 2,720,328 2,823,274 2,538,863
[1] Includes related party expenses of $0 and $0 for the three months ended September 30, 2024 and 2023, respectively, and $0 and $17,076 for the nine months ended September 30, 2024 and 2023, respectively.
[2] Includes related party expenses of $0 and $15,439 for the three months ended September 30, 2024 and 2023, respectively, and $0 and $46,361 for the nine months ended September 30, 2024 and 2023, respectively.
[3] Includes related party expenses of $37,500 and $116,530 for the three months ended September 30, 2024 and 2023, respectively, and $188,772 and $298,190 for the nine months ended September 30, 2024 and 2023, respectively.