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Long Term Investments (Detail Textuals)
1 Months Ended 6 Months Ended
Sep. 14, 2016
USD ($)
Sep. 14, 2016
CNY (¥)
Oct. 31, 2016
USD ($)
Oct. 31, 2016
CNY (¥)
Apr. 30, 2016
USD ($)
$ / shares
shares
Mar. 28, 2016
USD ($)
Jun. 30, 2017
USD ($)
Jun. 30, 2016
USD ($)
Dec. 31, 2016
USD ($)
Apr. 15, 2016
USD ($)
Apr. 13, 2016
USD ($)
Apr. 13, 2016
CNY (¥)
Debt Instrument [Line Items]                        
Acquisition of game IP rights in cash paid             $ 6,230,422   $ 6,156,985      
Total purchase price           $ 10,000,000 1,480,001 $ 9,277,574        
Long term investments             6,664,547   $ 6,654,664      
Increase in investment                      
Impairment of equity method investments                      
Shandong Media                        
Debt Instrument [Line Items]                        
Percentage of equity ownership             30.00%   30.00%      
Increase in investment [1]                      
Impairment of equity method investments [1]                      
Hua Cheng                        
Debt Instrument [Line Items]                        
Percentage of equity ownership             39.00%   39.00%      
Increase in investment [2]                      
Impairment of equity method investments [2]                      
Wecast Internet Limited ("Wecast Internet")                        
Debt Instrument [Line Items]                        
Percentage of equity ownership     50.00% 50.00%                
Increase in investment     $ 149,750 ¥ 1,000,000     [3]          
Impairment of equity method investments [3]                      
SSS | SSF | IP rights ("Game IP Rights")                        
Debt Instrument [Line Items]                        
Acquisition of game IP rights in cash                     $ 2,700,000 ¥ 18,000,000
Nanjing Tops Game Co., Ltd. ("Topsgame")                        
Debt Instrument [Line Items]                        
Acquisition of game IP rights in cash paid             $ 3,230,422 [4]   $ 3,156,985      
Percentage of equity ownership             13.00%          
Nanjing Tops Game Co., Ltd. ("Topsgame") | IP rights ("Game IP Rights")                        
Debt Instrument [Line Items]                        
Fair value of investment                   $ 2,700,000    
Nanjing Tops Game Co., Ltd. ("Topsgame") | SSF                        
Debt Instrument [Line Items]                        
Percentage of equity ownership 13.00% 13.00%                    
Increase in investment $ 584,000 ¥ 3,900,000                    
Nanjing Tops Game Co., Ltd. ("Topsgame") | SSF | Capital Increase Agreement                        
Debt Instrument [Line Items]                        
Percentage of equity ownership                   13.00%    
Frequency Networks Inc. ("Frequency")                        
Debt Instrument [Line Items]                        
Acquisition of game IP rights in cash paid [5]             $ 3,000,000   $ 3,000,000      
Frequency Networks Inc. ("Frequency") | Series A Preferred Stock Purchase Agreement (the "SPA")                        
Debt Instrument [Line Items]                        
Number of common stock agreed to sell and issue | shares         8,566,271              
Percentage of equity ownership         9.00%              
Total purchase price         $ 3,000,000              
Preferred stock non-cumulative dividends rate per share | $ / shares         $ 0.02548              
Preferred stock convertible into common stock basis         1:1              
Preferred stock liquidation preference per share | $ / shares         $ 0.42467              
Cost of the investment in Frequency         $ 3,000,000              
[1] Investment in Shandong Media As of the period ended June 30, 2017 and December 31, 2016, the Company held 30% equity ownership in Shandong Media, and accounts for the investment by the equity method. The investment was fully impaired as of June 30, 2017 and December 31, 2016.
[2] Investment in Hua Cheng As of the period ended June 30, 2017 and December 31, 2016, the Company held 39% equity ownership in Hua Cheng, and accounted for the investment by the equity method.
[3] Investment in Wecast Internet In October 2016, the Company's subsidiary, YOU On Demand (Asia) Ltd., invested RMB1,000,000 (approximately $149,750) in Wecast Internet Limited ("Wecast Internet") and held its 50% equity ownership.
[4] On April 13, 2016, SSF entered into a Game Right Assignment Agreement with SSS for the acquisition of certain game IP rights ("Game IP Rights") for approximately $2.7 million (RMB18 million) in cash. On April 15, 2016, SSF entered into a Capital Increase Agreement with Nanjing Tops Game Co., Ltd. ("Topsgame") and its shareholders whereby SSF transferred the Game IP Rights acquired from SSS to Topsgame in exchange for 13% of Topsgame's equity ownership. Topsgame is a PRC company that specializes in the independent development and operation of online, stand-alone and other games as well as the distribution of domestic and overseas games. The Company's 13% ownership interest does not provide the Company with the right to nor does the Company have representation on the board of directors of Topsgame. The Company has recognized the cost of the investment in Topsgame, which is a private company with no readily determinable fair value, based on the acquisition cost of Game IP Rights of approximately $2.7 million and accounts for the investment by the cost method. On September 14, 2016, SSF increased its investment in Topsgame by RMB 3,900,000 (approximately $584,000) and maintained its 13% equity ownership of Topsgame. The investment continued to be accounted for using the cost method. On June 30, 2017, the Company entered into the BT SPA, pursuant to which, Topsgame has been sold to BT in the consideration of the fair value of Topsgame which approximates to its carrying book value (appraised by an independent third party). However, considering the payment term is in one year and its collectability is uncertain as of June 30, 2017, Company did not account for this transaction as of June 30, 2017.
[5] In April 2016, the Company and Frequency Networks Inc. ("Frequency") entered into a Series A Preferred Stock Purchase Agreement (the "SPA") for the purchase of 8,566,271 shares of Series A Preferred Stock, Frequency (the "Frequency Preferred Stock") for a total purchase price of $3 million. The 8,566,271 Series A Preferred Stock represent 9% ownership and voting interest on an as converted basis and does not provide the Company with the right to nor does the Company have representation on the board of directors of Frequency. The Frequency Preferred Stock is entitled to non-cumulative dividends at the rate of $0.02548 per share per annum, declared at the discretion of Frequency's board of directors. The Frequency Preferred Stock is also convertible into shares of Frequency common stock at the Company's election any time after issuance on a 1:1 basis, subject to certain adjustment. Each share of Frequency Preferred Stock also has a liquidation preference of $0.42467 per share, plus any declared but unpaid dividends. The Company has recognized the cost of the investment in Frequency, which is a private company with no readily determinable fair value, at its cost of $3 million and accounts for the investment by the cost method. There were no identified events or changes in circumstances that may have had a significant adverse effect on the fair value of our cost method investments, accordingly the fair value of our cost method investments are not estimated.