2017 Q3 Form 10-Q Financial Statement
#000114420417058939 Filed on November 14, 2017
Income Statement
Concept | 2017 Q3 | 2016 Q4 | 2016 Q3 |
---|---|---|---|
Revenue | $6.064K | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | $449.6K | $0.00 | |
YoY Change | |||
Gross Profit | -$443.5K | $0.00 | |
YoY Change | |||
Gross Profit Margin | -7313.7% | ||
Selling, General & Admin | $1.300M | $1.550M | $1.110M |
YoY Change | 17.12% | 3000.0% | 2120.0% |
% of Gross Profit | |||
Research & Development | $30.78K | $410.0K | $374.9K |
YoY Change | -91.79% | ||
% of Gross Profit | |||
Depreciation & Amortization | $170.0K | $0.00 | $0.00 |
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $30.78K | $1.960M | $374.9K |
YoY Change | -91.79% | 3820.0% | 649.89% |
Operating Profit | -$1.775M | -$1.485M | |
YoY Change | 19.5% | 2892.35% | |
Interest Expense | $0.00 | -$10.00K | $4.044K |
YoY Change | -100.0% | -200.0% | |
% of Operating Profit | |||
Other Income/Expense, Net | -$3.250K | -$4.044K | |
YoY Change | -19.63% | 63.0% | |
Pretax Income | -$1.780M | -$1.980M | -$1.490M |
YoY Change | 19.46% | 6500.0% | 2880.0% |
Income Tax | $0.00 | $0.00 | |
% Of Pretax Income | |||
Net Earnings | -$1.778M | -$1.980M | -$1.489M |
YoY Change | 19.39% | 6500.0% | 2757.68% |
Net Earnings / Revenue | -29325.46% | ||
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$2.39 | -$14.14 | -$7.84 |
COMMON SHARES | |||
Basic Shares Outstanding | 9.484M shares | ||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2017 Q3 | 2016 Q4 | 2016 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $1.700M | $600.0K | $1.600M |
YoY Change | 6.25% | -73.91% | -30.43% |
Cash & Equivalents | $1.699M | $598.3K | $149.3K |
Short-Term Investments | $1.100M | ||
Other Short-Term Assets | $100.0K | $100.0K | $0.00 |
YoY Change | 234.14% | ||
Inventory | |||
Prepaid Expenses | |||
Receivables | $3.482K | $0.00 | $600.0K |
Other Receivables | $0.00 | $0.00 | |
Total Short-Term Assets | $1.800M | $719.9K | $2.300M |
YoY Change | -21.74% | -69.39% | -4.17% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $2.500M | $547.8K | |
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | $20.00K | ||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $2.600M | $567.8K | $0.00 |
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $1.800M | $719.9K | $2.300M |
Total Long-Term Assets | $2.600M | $567.8K | $0.00 |
Total Assets | $4.400M | $1.288M | $2.300M |
YoY Change | 91.3% | -45.25% | -4.17% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $100.0K | $154.4K | $100.0K |
YoY Change | 0.0% | 1502.75% | |
Accrued Expenses | $400.0K | $54.79K | |
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $700.0K | $346.3K | $200.0K |
YoY Change | 250.0% | 302.83% | 100.0% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $700.0K | $346.3K | $200.0K |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $700.0K | $346.3K | $200.0K |
YoY Change | 250.0% | 246.33% | 100.0% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$2.188M | ||
YoY Change | -96.5% | ||
Common Stock | $220.5K | ||
YoY Change | 137.51% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $3.533M | $772.9K | $0.00 |
YoY Change | |||
Total Liabilities & Shareholders Equity | $4.357M | $1.288M | $2.300M |
YoY Change | 89.42% | -45.25% | -4.17% |
Cashflow Statement
Concept | 2017 Q3 | 2016 Q4 | 2016 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.778M | -$1.980M | -$1.489M |
YoY Change | 19.39% | 6500.0% | 2757.68% |
Depreciation, Depletion And Amortization | $170.0K | $0.00 | $0.00 |
YoY Change | |||
Cash From Operating Activities | -$910.0K | -$650.0K | -$410.0K |
YoY Change | 121.95% | 6400.0% | 583.33% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $560.0K | $430.0K | $0.00 |
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $950.0K | ||
YoY Change | 313.04% | ||
Cash From Investing Activities | -$560.0K | $520.0K | -$400.0K |
YoY Change | 40.0% | 126.09% | -322.22% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 1.730M | 580.0K | 640.0K |
YoY Change | 170.31% | ||
NET CHANGE | |||
Cash From Operating Activities | -910.0K | -650.0K | -410.0K |
Cash From Investing Activities | -560.0K | 520.0K | -400.0K |
Cash From Financing Activities | 1.730M | 580.0K | 640.0K |
Net Change In Cash | 260.0K | 450.0K | -170.0K |
YoY Change | -252.94% | 104.55% | -241.67% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$910.0K | -$650.0K | -$410.0K |
Capital Expenditures | $560.0K | $430.0K | $0.00 |
Free Cash Flow | -$1.470M | -$1.080M | -$410.0K |
YoY Change | 258.54% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2017Q3 | us-gaap |
Derivative Liabilities Current
DerivativeLiabilitiesCurrent
|
130238 | USD |
CY2017Q3 | mven |
Common Stock Value To Be Issued
CommonStockValueToBeIssued
|
1566000 | USD |
CY2017Q3 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
8265925 | USD |
CY2017Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
4356724 | USD |
CY2016Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
772862 | USD |
CY2017Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.11 | |
CY2017Q3 | us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
-3311 | USD |
CY2017Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
6064 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-4371491 | USD | |
us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
2045812 | USD | |
us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
200880 | USD | |
mven |
Stock To Be Issued During Period Value Common Stock
StockToBeIssuedDuringPeriodValueCommonStock
|
0 | USD | |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
3318664 | USD | |
us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
6939 | USD | |
us-gaap |
Stock Issued1
StockIssued1
|
200880 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
3519544 | USD | |
CY2016Q3 | us-gaap |
Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
|
735099 | USD |
CY2017Q2 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
3500000 | USD |
CY2017Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
30776 | USD |
us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
14737558 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
13417951 | shares | |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
226000 | USD | |
CY2016Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
390 | USD |
us-gaap |
Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
|
-6939 | USD | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
23392138 | shares | |
CY2017Q3 | us-gaap |
Equity Fair Value Disclosure
EquityFairValueDisclosure
|
4403464 | USD |
CY2017Q3 | us-gaap |
Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
|
1.0 | pure |
CY2016Q4 | us-gaap |
Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
|
735099 | USD |
CY2017Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2017Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2017Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
26005140 | shares |
CY2016Q3 | us-gaap |
Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
|
2952 | USD |
CY2016Q3 | us-gaap |
Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
|
0.0002 | |
CY2016Q3 | us-gaap |
Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
|
7966070 | shares |
CY2016Q4 | us-gaap |
Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
|
4094708 | shares |
CY2016Q3 | us-gaap |
Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
|
4.13607 | pure |
CY2017Q3 | mven |
Recapitalization Number Of Shares Transfer To Escrow Account
RecapitalizationNumberOfSharesTransferToEscrowAccount
|
4094708 | shares |
CY2017Q3 | mven |
Number Of Shares In Escrow Subject To Performance Condition
NumberOfSharesInEscrowSubjectToPerformanceCondition
|
4381003 | shares |
CY2017Q3 | mven |
Common Stock Share Percentage Escrowed
CommonStockSharePercentageEscrowed
|
0.35 | pure |
CY2016Q4 | mven |
Percentage Of Escrow Shares To Be Released Subject To Performance Condition
PercentageOfEscrowSharesToBeReleasedSubjectToPerformanceCondition
|
0.725 | pure |
CY2017Q3 | mven |
Percentage Of Escrow Shares To Be Released Subject To Performance Condition
PercentageOfEscrowSharesToBeReleasedSubjectToPerformanceCondition
|
1 | pure |
us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P1Y8M1D | ||
CY2017Q3 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
1574000 | USD |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
|
150000 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
27750 | USD | |
CY2017Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
|
1080863 | shares |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P0Y | ||
CY2017Q2 | us-gaap |
Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
|
446000 | USD |
CY2017Q3 | mven |
Deferred Tax Assets Accrued Liabilities Not Currently Deductible
DeferredTaxAssetsAccruedLiabilitiesNotCurrentlyDeductible
|
80520 | USD |
CY2017Q3 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
1906109 | USD |
CY2017Q3 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
2129885 | USD |
CY2017Q3 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | USD |
CY2017Q3 | us-gaap |
Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
|
559484 | USD |
CY2017Q3 | mven |
Aggregate Remaining Commitment
AggregateRemainingCommitment
|
1215000 | USD |
CY2017Q3 | us-gaap |
Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
|
264000 | USD |
CY2017Q3 | us-gaap |
Other Commitment Due In Next Twelve Months
OtherCommitmentDueInNextTwelveMonths
|
300000 | USD |
CY2017Q3 | us-gaap |
Other Commitment Due In Second Year
OtherCommitmentDueInSecondYear
|
775000 | USD |
CY2017Q3 | us-gaap |
Other Commitment Due In Third Year
OtherCommitmentDueInThirdYear
|
140000 | USD |
CY2017Q3 | mven |
Franchise Tax Payable
FranchiseTaxPayable
|
44000 | USD |
CY2017Q3 | mven |
Interest Rate Per Month Percentage
InterestRatePerMonthPercentage
|
0.18 | pure |
CY2016Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2016Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2017Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
26005140 | shares |
CY2016Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
22047531 | shares |
CY2016Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
22047531 | shares |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">Use of Estimates</font></i></div> <div style="CLEAR:both;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses for the reporting period.  Actual results could materially differ from those estimates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | ||
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt"> Concentrations of Credit Risk</font></i></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | ||
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
104095 | USD | |
CY2016Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
548194 | USD |
CY2017Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
2750310 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1489449 | USD | |
us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
0 | USD | |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
0 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
5222 | USD | |
CY2017Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1300767 | USD |
CY2017Q3 | us-gaap |
Investment Income Net
InvestmentIncomeNet
|
61 | USD |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
30600 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
36992 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-492021 | USD | |
us-gaap |
Payments To Develop Software
PaymentsToDevelopSoftware
|
0 | USD | |
CY2017Q3 | us-gaap |
Other Commitment
OtherCommitment
|
1215000 | USD |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.28 | ||
CY2017Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1919137 | shares |
CY2017Q3 | us-gaap |
Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
|
3000000 | shares |
CY2017Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
513669 | USD |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1357510 | USD | |
CY2017Q3 | us-gaap |
Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
|
1 | shares |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
0 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
2952 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
641303 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
149282 | USD | |
CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
0 | USD |
CY2016Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
149282 | USD |
mven |
Reclssification Of Share Based Compensation To Website Development Costs
ReclssificationOfShareBasedCompensationToWebsiteDevelopmentCosts
|
0 | USD | |
mven |
Accrual Of Stock Issuance Costs
AccrualOfStockIssuanceCosts
|
0 | USD | |
us-gaap |
Stock Issued1
StockIssued1
|
0 | USD | |
CY2017Q3 | us-gaap |
Cost Of Services
CostOfServices
|
449567 | USD |
CY2017Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-3250 | USD |
CY2017Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1775046 | USD |
CY2017Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1778296 | USD |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
233990 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-19322 | USD | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-102793 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
203271 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-2654964 | USD | |
us-gaap |
Payments To Develop Software
PaymentsToDevelopSoftware
|
1513813 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1513813 | USD | |
us-gaap |
Proceeds From Other Equity
ProceedsFromOtherEquity
|
1750000 | USD | |
us-gaap |
Proceeds From Other Equity
ProceedsFromOtherEquity
|
0 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
5269544 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
1100767 | USD | |
CY2017Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
1699061 | USD |
mven |
Reclssification Of Share Based Compensation To Website Development Costs
ReclssificationOfShareBasedCompensationToWebsiteDevelopmentCosts
|
688302 | USD | |
mven |
Accrual Of Stock Issuance Costs
AccrualOfStockIssuanceCosts
|
184000 | USD | |
CY2017Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
3532727 | USD |
CY2016Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
0 | USD |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
6064 | USD | |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
0 | USD | |
CY2016Q3 | us-gaap |
Cost Of Services
CostOfServices
|
0 | USD |
us-gaap |
Cost Of Services
CostOfServices
|
641606 | USD | |
us-gaap |
Cost Of Services
CostOfServices
|
0 | USD | |
CY2016Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
374944 | USD |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
374944 | USD | |
CY2016Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1110461 | USD |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
3639204 | USD | |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1110461 | USD | |
CY2016Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1485405 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-4378841 | USD | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1485405 | USD | |
us-gaap |
Investment Income Net
InvestmentIncomeNet
|
411 | USD | |
us-gaap |
Investment Income Net
InvestmentIncomeNet
|
0 | USD | |
CY2016Q3 | us-gaap |
Investment Income Net
InvestmentIncomeNet
|
0 | USD |
CY2017Q3 | us-gaap |
Interest Expense
InterestExpense
|
0 | USD |
CY2016Q3 | us-gaap |
Interest Expense
InterestExpense
|
4044 | USD |
us-gaap |
Interest Expense
InterestExpense
|
0 | USD | |
us-gaap |
Interest Expense
InterestExpense
|
4044 | USD | |
CY2016Q3 | us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
0 | USD |
CY2016Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-4044 | USD |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
7350 | USD | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-4044 | USD | |
CY2016Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1489449 | USD |
CY2016Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.35 | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.33 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.35 | ||
CY2016Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
4243607 | shares |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
13091231 | shares | |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
4243607 | shares | |
CY2017Q3 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
3482 | USD |
CY2016Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
0 | USD |
CY2017Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
102265 | USD |
CY2016Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
121587 | USD |
CY2017Q3 | us-gaap |
Deferred Revenue
DeferredRevenue
|
31634 | USD |
CY2016Q4 | us-gaap |
Deferred Revenue
DeferredRevenue
|
0 | USD |
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
0 | USD | |
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
638351 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
3482 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
0 | USD | |
us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
31634 | USD | |
us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
0 | USD | |
CY2016Q4 | mven |
Deferred Tax Assets Accrued Liabilities Not Currently Deductible
DeferredTaxAssetsAccruedLiabilitiesNotCurrentlyDeductible
|
64210 | USD |
CY2016Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
506259 | USD |
CY2016Q4 | us-gaap |
Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
|
136263 | USD |
CY2016Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | USD |
CY2016Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
570469 | USD |
us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-1486307 | USD | |
us-gaap |
Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
|
331628 | USD | |
us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
1154679 | USD | |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD | |
CY2016Q3 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-506413 | USD |
CY2016Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.340 | pure | |
CY2016Q3 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.340 | pure |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | pure | |
CY2016Q3 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | pure |
us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
-0.076 | pure | |
us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.264 | pure | |
CY2017Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
234380 | USD |
mven |
Stock To Be Issued During Period Value Private Placement Common Stock
StockToBeIssuedDuringPeriodValuePrivatePlacementCommonStock
|
1566000 | USD | |
CY2017Q3 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2016Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2017Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
16367424 | shares |
CY2017Q3 | us-gaap |
Deferred Set Up Costs Current
DeferredSetUpCostsCurrent
|
15986 | USD |
CY2016Q4 | us-gaap |
Deferred Set Up Costs Current
DeferredSetUpCostsCurrent
|
0 | USD |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1357510 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
935058 | USD | |
CY2017Q3 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
137936 | USD |
CY2016Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
0 | USD |
CY2017Q3 | mven |
Deferred Tax Liabilities Deferred Expense Share Based Compensation
DeferredTaxLiabilitiesDeferredExpenseShareBasedCompensation
|
16625 | USD |
CY2016Q4 | mven |
Deferred Tax Liabilities Deferred Expense Share Based Compensation
DeferredTaxLiabilitiesDeferredExpenseShareBasedCompensation
|
16625 | USD |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> </div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <b><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>1. Nature of Operations</font></b></div> <div style="CLEAR:both;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">theMaven, Inc. (“Parent”) and theMaven Network, Inc. (“Subsidiary”) (collectively “theMaven” or the “Company”) are developing an exclusive network of professionally managed online media channels, with an underlying technology platform. Each channel will be operated by a “invite only” “Channel Partner” drawn from subject matter experts, reporters, group evangelists and social leaders. Channel Partners will publish content and oversee an online community for their respective channels, leveraging a proprietary, socially-driven, mobile-enabled, video-focused technology platform to engage niche audiences within a single network.</font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt"><font style="LINE-HEIGHT: 115%; FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> During the second quarter of 2017 the Company’s platform and media channel operations were launched in beta stage and by the end of the third quarter there were a total of 23 channel partners operating on theMaven Network. Internet users since the launch of our channels are able to utilize the platform on desktop, laptop and mobile devices for these channels. We expect that during the fourth quarter additional channels will be launched. As of November 13, 2017, we have over sixty signed channel partners and 28 channel partners operating on theMaven Network. We do not expect to have significant revenue during the fourth quarter as we continue development of our technology and the commencement of business operations establishing a media audience.</font></font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | ||
us-gaap |
Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
|
6663244 | shares | |
us-gaap |
Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
|
6735000 | USD | |
us-gaap |
Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
|
15986 | USD | |
us-gaap |
Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
|
0 | USD | |
CY2017Q4 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
2391304 | shares |
CY2017Q4 | us-gaap |
Share Price
SharePrice
|
1.15 | |
CY2017Q4 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
2750000 | USD |
CY2017Q4 | us-gaap |
Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
|
320000 | USD |
CY2017Q4 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
282000 | USD |
CY2016Q3 | us-gaap |
Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
|
317920 | USD |
CY2016Q3 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
188493 | USD |
CY2016Q3 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.127 | pure |
CY2016Q3 | us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
-0.213 | pure |
us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
0 | USD | |
mven |
Class Of Warrant Or Rightterm
ClassOfWarrantOrRightterm
|
P5Y | ||
CY2017Q3 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
0.20 | |
CY2017Q3 | mven |
Class Of Warrant Or Rightholding Percentage
ClassOfWarrantOrRightholdingPercentage
|
0.05 | pure |
CY2017Q3 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
1169607 | shares |
CY2017Q3 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
744105 | USD |
CY2017Q3 | us-gaap |
Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
735000 | USD |
CY2017Q3 | us-gaap |
Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
|
5320 | USD |
CY2016Q4 | us-gaap |
Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
|
0 | USD |
CY2017Q3 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
1553776 | USD |
CY2016Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
417581 | USD |
CY2017Q3 | us-gaap |
Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
|
576109 | USD |
CY2016Q4 | us-gaap |
Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
|
152888 | USD |
CY2016Q3 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
935058 | USD |
us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <b><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">2. Basis of Presentation</font></b></div> <div style="CLEAR:both;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">theMaven Network, Inc. was incorporated in Nevada on July 22, 2016, under the name “Amplify Media, Inc.” On July 27, 2016, the corporate name was amended to “Amplify Media Network, Inc.” and on October 14, 2016, the corporate name was changed to “theMaven Network, Inc.”.</font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt"></font> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">theMaven, Inc. was formerly known as Integrated Surgical Systems, Inc., a Delaware corporation (“<i>Integrated</i>”). From June 2007 until November 4, 2016, Integrated was a non-active “shell company” as defined by regulations of the Securities and Exchange Commission (SEC). On August 11, 2016, Integrated entered into a loan to Subsidiary that provided initial funding totaling $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">735,099</font> for the Subsidiary’s operations. Integrated’s Board of Directors structured the loan to the Subsidiary as fully secured so that Integrated would receive cash at maturity of the loan if negotiations for a combination did not result in the consummated Recapitalization transaction. If the loan was not repaid then the remedies in the event of default were to pursue (a) the personal guarantee and/or (b) the mortgaged real estate collateral. The loan was not secured by the intellectual property of the Subsidiary, but there was a covenant that the Subsidiary would not, without prior written consent, sell or assign the business or intellectual property. This negative covenant did not give Integrated control or rights other than as a creditor. The loan did not provide Integrated with an equity interest or other ownership or control rights in the Subsidiary. The loan did not have any rights to conversion into equity in the Subsidiary. The note, and the associated payable, was cancelled as part of the Recapitalization and the proceeds from the borrowing from Integrated was considered as cash received due to the Recapitalization in addition to the net assets acquired.</font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt"></font> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">On October 14, 2016, Integrated entered into a Share Exchange Agreement (the “<i>Share Exchange Agreement</i>”) with Subsidiary and the shareholders of Subsidiary holding all of the issued and outstanding shares of Subsidiary (collectively, “<i>Subsidiary Shareholders</i>”). The Share Exchange Agreement was amended on November 4, 2016, to include certain newly issued shares of Subsidiary in the transaction and make related changes to the agreement and the Share Exchange was consummated. The transaction resulted in Parent acquiring Subsidiary by the exchange of all of the outstanding shares of Subsidiary for <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 12,517,152</font> newly issued shares of the common stock, $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">0.01</font></font> par value (the “<i>Common Stock</i>”) of Parent, representing approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 56.7</font>% of the issued and outstanding shares of Common Stock of Parent immediately after the transaction.</font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt"></font> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">In determining the accounting treatment for the Share Exchange Agreement, the primary factor was determining which party, directly or indirectly, holds greater than 50 percent of the voting shares has control and is considered to be the acquirer. Because the former shareholders of the Subsidiary received 56.7 percent voting control of the issued and outstanding shares of the Company after the transaction, the transaction was considered to be a reverse recapitalization for accounting purposes. Other factors that indicated that the former stockholders of the Subsidiary had control of the Company after the transaction included, (1) fully diluted equity interests, (2) composition of senior management, (3) former officers of the Parent ceded day-to-day responsibilities to officers of the Subsidiary, and (4) composition of Board of Directors. On a fully diluted basis, the former shareholders of the Subsidiary received <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 53.5</font></font></font> percent of the equity interests in the Company. All the members of senior management of the Company, other than the part-time Chief Financial Officer, were former shareholders of the Subsidiary. The former officers of the non-active shell ceded day-to-day management to officers of the Subsidiary. The Board of Directors, immediately after the Recapitalization included three members from the Parent and two members from the Subsidiary. Because the former shareholders of the Subsidiary could vote to make changes in the Board composition, the conclusion was that control of the Board, in substance, was vested in the former shareholders of the Subsidiary.</font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">The transaction is referred to as the “Recapitalization.” The Recapitalization was consummated on November 4, 2016, as a result of which theMaven Network, Inc. became a wholly owned subsidiary of Integrated (the “<i>Closing</i>”). The note payable between Integrated and Subsidiary was an interdependent transaction with the Recapitalization and was cancelled upon closing of the Recapitalization. On December 2, 2016, Integrated amended its Certificate of Incorporation to change its name from “Integrated Surgical Systems, Inc.” to “theMaven, Inc.”</font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">From June 2007 until the closing of the Recapitalization, Integrated was a non-active “shell company” as defined by regulations of the SEC and, accordingly, the Recapitalization was accounted for as a reverse recapitalization rather than a business combination. As the Subsidiary is deemed to be the purchaser for accounting purposes under reverse recapitalization accounting, the Company’s financial statements are presented as a continuation of Subsidiary, and the accounting for the Recapitalization is equivalent to the issuance of stock by Subsidiary for the net monetary assets of Parent as of the Closing accompanied by a recapitalization.  See Note 9 Stockholders’ Equity for summary of the assets acquired, transaction costs and the consideration exchanged in the Recapitalization.</font></div> </div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">The accompanying unaudited financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission for Form 10-Q. The Balance Sheet at December 31, 2016 has been derived from the Company’s audited financial statements.</font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">In the opinion of management, these financial statements reflect all normal recurring, and other adjustments, necessary for a fair presentation. These financial statements should be read in conjunction with the audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. Operating results for interim periods are not necessarily indicative of operating results for an entire fiscal year or any other future periods.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both">  </div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Comparative Period from Inception on July 22, 2016 to September 30, 2016</font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0px; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">theMaven Network, Inc. was incorporated on July 22, 2016 and initially issued shares of its common stock on August 1, 2016 in exchange for cash at par value. Through September 30, 2016, the previously reported financial statements of Integrated did not include the operations of theMaven Network, Inc. However, unaudited financial statements of theMaven Network, Inc. for the three months ended September 30, 2016 were previously issued. As a result of the accounting for the Recapitalization as of the November 4, 2016 effective date of the transaction, the financial statements of theMaven Network, Inc. became the financial statements of Integrated for all periods previously presented. Subsequently, in conjunction with the preparation of audited consolidated financial statements of the Company for the year ended December 31, 2016, the Company recorded certain stock-based compensation adjustments to reflect the accounting for the fair value of the shares of common stock issued by theMaven Network, Inc. in August 2016 that were subject to vesting and redemption provisions (see Note 9). As a result, the accompanying consolidated unaudited statements of operations for the three months ended September 30, 2016 include stock-based compensation costs of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">935,058</font></font>, of which $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">67,842</font></font> was allocated to research and development expense and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">867,216</font></font> was allocated to general and administrative expense. These stock-based compensation adjustments did not have any effect on cash flows from operating activities for the three months ended September 30, 2016 or on total stockholders’ equity as of September 30, 2016.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | ||
us-gaap |
Depreciation
Depreciation
|
8000 | USD | |
CY2017Q3 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
173000 | USD |
us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
1750000 | USD | |
CY2017Q3 | us-gaap |
Short Term Lease Commitment Amount
ShortTermLeaseCommitmentAmount
|
25000 | USD |
CY2017Q3 | us-gaap |
Lease Expiration Date1
LeaseExpirationDate1
|
2018-01-31 | |
CY2017Q3 | mven |
Share Based Compensation Arrangement By Share Based Payment Award Options Cashless Exercises In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCashlessExercisesInPeriod
|
25000 | shares |
CY2017Q3 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
21680 | shares |