2022 Q4 Form 10-Q Financial Statement

#000121390022072201 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $2.523M $8.664M $3.482M
YoY Change -16.16% 148.83% 107.26%
Cost Of Revenue $1.671M $1.810M $1.525M
YoY Change 220.87% 18.68%
Gross Profit $852.2K $6.855M $1.957M
YoY Change -65.76% 250.22% 16.5%
Gross Profit Margin 33.78% 79.11% 56.21%
Selling, General & Admin $7.812M $13.84M $8.934M
YoY Change 18.04% 54.97% -0.63%
% of Gross Profit 916.7% 201.97% 456.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.617M $2.651M $2.994M
YoY Change -21.0% -11.45% -63.49%
% of Gross Profit 307.07% 38.67% 152.95%
Operating Expenses $9.546M $18.53M $12.15M
YoY Change -7.32% 52.5% 1.77%
Operating Profit -$8.694M -$9.867M -$10.19M
YoY Change 11.3% -3.21% -0.64%
Interest Expense -$4.284M $1.670M $20.16M
YoY Change -124.6% -91.71% -650.84%
% of Operating Profit
Other Income/Expense, Net $1.016M -$1.093M $20.16M
YoY Change -105.42%
Pretax Income -$18.19M -$10.96M $8.218M
YoY Change -289.39% -233.36% -124.21%
Income Tax
% Of Pretax Income
Net Earnings -$18.51M -$10.96M $8.359M
YoY Change -290.72% -231.11% -124.66%
Net Earnings / Revenue -733.52% -126.49% 240.06%
Basic Earnings Per Share -$0.09 $0.09
Diluted Earnings Per Share -$3.36 -$0.09 $81.52K
COMMON SHARES
Basic Shares Outstanding 121.3M shares 117.6M shares 95.04M shares
Diluted Shares Outstanding 118.4M shares 102.5M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.02M $15.91M $13.21M
YoY Change 153.01% 20.48% 67.19%
Cash & Equivalents $33.52M $32.60M $28.49M
Short-Term Investments
Other Short-Term Assets $3.340M $3.285M $8.569M
YoY Change -60.0% -61.67% 26.02%
Inventory
Prepaid Expenses
Receivables $1.811M $3.569M $1.670M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $31.17M $22.77M $23.45M
YoY Change 48.41% -2.9% 46.55%
LONG-TERM ASSETS
Property, Plant & Equipment $248.8M $234.3M $147.3M
YoY Change 37.88% 59.06% 16.07%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $21.10M
YoY Change
Other Assets $7.500M $16.69M $15.28M
YoY Change 5.56% 9.21% -3.89%
Total Long-Term Assets $425.1M $398.6M $309.1M
YoY Change 34.41% 28.96% 16.71%
TOTAL ASSETS
Total Short-Term Assets $31.17M $22.77M $23.45M
Total Long-Term Assets $425.1M $398.6M $309.1M
Total Assets $456.3M $421.3M $332.5M
YoY Change 35.28% 26.72% 18.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.58M $23.78M $18.06M
YoY Change 45.0% 31.65% 15.77%
Accrued Expenses $3.413M $3.409M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $60.09M $14.72M
YoY Change
Total Short-Term Liabilities $81.93M $45.62M $19.89M
YoY Change 487.76% 129.35% 11.74%
LONG-TERM LIABILITIES
Long-Term Debt $171.3M $163.7M $84.36M
YoY Change 69.02% 94.02% -21.96%
Other Long-Term Liabilities $11.79M $261.7K $37.42M
YoY Change -99.3%
Total Long-Term Liabilities $183.1M $261.7K $121.8M
YoY Change -99.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $81.93M $45.62M $19.89M
Total Long-Term Liabilities $183.1M $261.7K $121.8M
Total Liabilities $265.0M $216.1M $141.2M
YoY Change 99.71% 53.11% 8.01%
SHAREHOLDERS EQUITY
Retained Earnings -$146.9M -$128.4M
YoY Change 46.97%
Common Stock $560.00 $12.12K
YoY Change -94.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $192.1M $206.1M $191.3M
YoY Change
Total Liabilities & Shareholders Equity $456.3M $421.3M $332.5M
YoY Change 35.28% 26.72% 18.41%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$18.51M -$10.96M $8.359M
YoY Change -290.72% -231.11% -124.66%
Depreciation, Depletion And Amortization $2.617M $2.651M $2.994M
YoY Change -21.0% -11.45% -63.49%
Cash From Operating Activities -$7.307M -$3.008M -$7.989M
YoY Change 1313.18% -62.35% -67.19%
INVESTING ACTIVITIES
Capital Expenditures $17.31M -$37.84M -$16.23M
YoY Change -160.92% 133.13% -42.22%
Acquisitions
YoY Change
Other Investing Activities -$16.96M $0.00
YoY Change -100.0%
Cash From Investing Activities -$34.27M -$37.84M -$16.23M
YoY Change 20.63% 133.13% -80.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $94.99K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 42.49M 55.62M -20.96M
YoY Change 138.42% -365.4% -117.02%
NET CHANGE
Cash From Operating Activities -7.307M -3.008M -7.989M
Cash From Investing Activities -34.27M -37.84M -16.23M
Cash From Financing Activities 42.49M 55.62M -20.96M
Net Change In Cash 913.2K 14.77M -45.18M
YoY Change -108.23% -132.7% -397.61%
FREE CASH FLOW
Cash From Operating Activities -$7.307M -$3.008M -$7.989M
Capital Expenditures $17.31M -$37.84M -$16.23M
Free Cash Flow -$24.61M $34.83M $8.241M
YoY Change -188.25% 322.64% 120.36%

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us-gaap Nature Of Operations
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<p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif"><b>Note 1: Organization and Nature of Business</b></span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Organization and Nature of Business</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif">Hall of Fame Resort &amp; Entertainment Company, a Delaware corporation (together with its subsidiaries, unless the context indicates otherwise, the “Company” or “HOFRE”), was incorporated in Delaware as GPAQ Acquisition Holdings, Inc., a wholly owned subsidiary of our legal predecessor, Gordon Pointe Acquisition Corp. (“GPAQ”), a special purpose acquisition company.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On July 1, 2020, the Company consummated a business combination with HOF Village, LLC, a Delaware limited liability company (“HOF Village”), pursuant to an Agreement and Plan of Merger dated September 16, 2019 (as amended on November 6, 2019, March 10, 2020 and May 22, 2020, the “Merger Agreement”), by and among the Company, GPAQ, GPAQ Acquiror Merger Sub, Inc., a Delaware corporation (“Acquiror Merger Sub”), GPAQ Company Merger Sub, LLC, a Delaware limited liability company (“Company Merger Sub”), HOF Village and HOF Village Newco, LLC, a Delaware limited liability company (“Newco”). The transactions contemplated by the Merger Agreement are referred to as the “Business Combination”.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The Company is a resort and entertainment company leveraging the power and popularity of professional football and its legendary players in partnership with the National Football Museum, Inc., doing business as the Pro Football Hall of Fame (“PFHOF”). Headquartered in Canton, Ohio, the Company owns the Hall of Fame Village powered by Johnson Controls, a multi-use sports, entertainment, and media destination centered around the PFHOF’s campus. The Company is pursuing a differentiation strategy across three pillars, including destination-based assets, HOF Village Media Group, LLC (“Hall of Fame Village Media”), and gaming . The Company is located in the only tourism development district in the state of Ohio.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif">The Company has entered into several agreements with PFHOF, an affiliate of the Company, and certain government entities, which outline the rights and obligations of each of the parties with regard to the property on which the Hall of Fame Village powered by Johnson Controls sits, portions of which are owned by the Company and portions of which are net leased to the Company by government and quasi-governmental entities (see Note 9 for additional information). Under these agreements, the PFHOF and the lessor entities are entitled to use portions of the Hall of Fame Village powered by Johnson Controls on a direct-cost basis.</span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">COVID-19</span></span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Since 2020, the world has been impacted by the novel coronavirus (“COVID-19”) pandemic. The COVID-19 pandemic and measures to prevent its spread have impacted the Company’s business in a number of ways, most significantly with regard to a reduction in the number of events and attendance at events at Tom Benson Hall of Fame Stadium and ForeverLawn Sports Complex, which has also negatively impacted the Company’s ability to sell sponsorships. Further, the COVID-19 pandemic has caused a number of supply chain disruptions, which have negatively impacted the Company’s ability to obtain the materials needed to complete construction <span style="font-size: 10pt">as </span>well as increases in the costs of materials and labor. The continued impact of these disruptions and the ultimate extent of their adverse impact on the Company’s financial and operating results will continue to be dictated by the length of time that such disruptions continue, which will, in turn, depend on the currently unpredictable duration and severity of the impacts of the COVID-19 pandemic, and among other things, the impact of governmental actions imposed in response to the COVID-19 pandemic as well as individuals’ and companies’ risk tolerance regarding health matters going forward and developing strain mutations. </span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Liquidity</span></span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has sustained recurring losses through September 30, 2022. Since inception, the Company’s operations have been funded principally through the issuance of debt and equity. As of September 30, 2022, the Company had approximately $16 million of unrestricted cash and cash equivalents and $16.7 million of restricted cash. The Company has approximately $18.7 million of debt coming due through December 31, 2023.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On March 1, 2022, the Company and ErieBank agreed to extend the MKG DoubleTree Loan (as defined in Note 4) in principal amount of $15,300,000 to September 13, 2023. See Note 4, Notes Payable, for more information on this transaction.</span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On March 1, 2022, the Company executed a series of transactions with affiliates of Industrial Realty Group, LLC, a Nevada limited liability company that is controlled by the Company’s director Stuart Lichter (“IRG”), and JKP Financial LLC (“JKP”), whereby the IRG affiliates and JKP extended certain of the Company’s debt in aggregate principal amount of $22,853,831 to March 31, 2024. See Note 4, Notes Payable, for more information on this transaction.</span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On June 16, 2022, the Company entered into a loan agreement with CH Capital Lending LLC, which is an affiliate of the Company’s director Stuart Lichter (“CH Capital Lending”), whereby CH Capital Lending agreed to lend the Company $10,500,000.</span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On June 16, 2022, the Company entered into a loan agreement with Stark Community Foundation, whereby Stark Community Foundation agreed to lend to the Company $5,000,000. Through September 30, 2022, the total of $5,000,000 has been provided to the Company. See Stark Community Foundation Loan under Note 4, Notes Payable, for more information on this transaction.</span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On July 1, 2022, the Company entered into an Energy Project Cooperative Agreement (the “EPC Agreement”) with Canton Regional Energy Special Improvement District, Inc., SPH Canton St, LLC, an affiliate of Stonehill Strategic Capital, LLC and City of Canton, Ohio. Under the EPC Agreement, the Company was provided $33,387,844 in Property Assessed Clean Energy (“PACE”) financing.</span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On August 31, 2022, the Company entered into a Business Loan Agreement (the “Business Loan Agreement”) with Stark County Port Authority (“Stark Port Authority”), pursuant to which the Company borrowed $5,000,000 (the “SCPA Loan”).</span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On September 15, 2022, the Company entered into a Business Loan Agreement with the City of Canton, Ohio (“City of Canton”), pursuant to which the Company borrowed $5,000,000 (the “Canton Loan”).</span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On September 27, 2022, the Company entered into a loan agreement with The Huntington National Bank, pursuant to which the lender agreed to loan up to $10,000,000 to the Subsidiary Borrowers, which may be drawn upon the Project achieving certain debt service coverage ratios. To date the Company has not received any funding from this loan agreement.</span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On September 27, 2022, the Company received approximately $14.7 million in proceeds from a failed sale-leaseback, net of financing costs and amounts held by the Landlord for future debt service. The Company recorded this transaction as a financing liability on the accompanying consolidated balance sheet. See Note 12.</span></p><p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On October 19, 2022, HOF Village Center for Performance, LLC and HOF Village Newco, LLC, subsidiaries of the Company, entered an Ohio Enterprise Bond Fund transaction (“OEBF”) with the State of Ohio and Stark County Port Authority. The OEBF issued $7,500,000 of Series 2022-3 bonds, the proceeds of which were loaned to the Stark County Port Authority and used to purchase Series 2022A bonds.</span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; margin: 0pt; text-align: justify">On November 7, 2022, the Company received approximately $49 million in net proceeds from a failed sale-leaseback, net of financing costs. See Note 13, Subsequent Events, for more information on this transaction.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The Company believes that, as a result of the Company’s demonstrated historical ability to finance and refinance debt, the transactions described above and its current ongoing negotiations, it will have sufficient cash and future financing to meet its funding requirements over the next 12 months from the issuance of these unaudited condensed consolidated financial statements. Notwithstanding, the Company expects that it will need to raise additional financing to accomplish its development plan over the next several years. The Company is seeking to obtain additional funding through debt, construction lending, and equity financing. There are no assurances that the Company will be able to raise capital on terms acceptable to the Company or at all, or that cash flows generated from its operations will be sufficient to meet its current operating costs. If the Company is unable to obtain sufficient amounts of additional capital, it may be required to reduce the scope of its planned development, which could harm its financial condition and operating results.</span></p>
us-gaap Land Purchase Options Description
LandPurchaseOptionsDescription
The Company has entered into several agreements with PFHOF, an affiliate of the Company, and certain government entities, which outline the rights and obligations of each of the parties with regard to the property on which the Hall of Fame Village powered by Johnson Controls sits, portions of which are owned by the Company and portions of which are net leased to the Company by government and quasi-governmental entities (see Note 9 for additional information).
us-gaap Debt Conversion Description
DebtConversionDescription
The Company has approximately $18.7 million of debt coming due through December 31, 2023.
CY2022Q1 hofv Principal Amount
PrincipalAmount
15300000 usd
CY2022Q1 hofv Aggregate Amount
AggregateAmount
22853831 usd
CY2022Q3 hofv Energy Project Cooperative Agreement Description
EnergyProjectCooperativeAgreementDescription
On July 1, 2022, the Company entered into an Energy Project Cooperative Agreement (the “EPC Agreement”) with Canton Regional Energy Special Improvement District, Inc., SPH Canton St, LLC, an affiliate of Stonehill Strategic Capital, LLC and City of Canton, Ohio. Under the EPC Agreement, the Company was provided $33,387,844 in Property Assessed Clean Energy (“PACE”) financing. 
CY2022Q3 us-gaap Loans Assumed1
LoansAssumed1
10000000 usd
CY2022Q3 us-gaap Financing Receivable Sale
FinancingReceivableSale
14700000 usd
CY2022Q4 us-gaap Notes Issued1
NotesIssued1
7500000 usd
CY2022Q4 us-gaap Loans And Leases Receivable Gain Loss On Sales Net
LoansAndLeasesReceivableGainLossOnSalesNet
49000000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Use of Estimates</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates and assumptions for the Company relate to bad debt, depreciation, costs capitalized to project development costs, useful lives of assets, stock-based compensation, and fair value of financial instruments (including the fair value of the Company’s warrant liability). Management adjusts such estimates when facts and circumstances dictate. Actual results could differ from those estimates.</span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></p>
CY2022Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
16689949 usd
CY2021Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
7105057 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
3312500 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
0 usd
hofv Recognized Measured Benefit
RecognizedMeasuredBenefit
0.50 pure
CY2022Q3 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
152233 usd
CY2021Q3 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
125042 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
551579 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
472916 usd
CY2022Q3 hofv Fair Value Of Aggregate Warrant Liabilities
FairValueOfAggregateWarrantLiabilities
1322000 usd
CY2021Q4 hofv Fair Value Of Aggregate Warrant Liabilities
FairValueOfAggregateWarrantLiabilities
13669000 usd
CY2022Q3 us-gaap Interest Rate Fair Value Hedge Liability At Fair Value
InterestRateFairValueHedgeLiabilityAtFairValue
128000 usd
CY2021Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
13669000 usd
hofv Settlement Of Warrants Exercised
SettlementOfWarrantsExercised
-3336000 usd
hofv Change In Fair Value Outstanding
ChangeInFairValueOutstanding
-9011000 usd
CY2022Q3 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
1322000 usd
hofv Subsequent Measurement Exercise Price
SubsequentMeasurementExercisePrice
1.4
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
8145916 usd
CY2021Q3 hofv Reverse Change In Fair Value Of Warrant Liabilitiesin Dollars
ReverseChangeInFairValueOfWarrantLiabilitiesinDollars
-16363170 usd
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-8217254 usd
CY2021Q3 us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
95044250 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
7496560 shares
CY2021Q3 us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
102540809 shares
CY2021Q3 us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.09
CY2021Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
-0.08
CY2022Q3 hofv Antidilutive Securities
AntidilutiveSecurities
81607417 shares
CY2021Q3 hofv Antidilutive Securities
AntidilutiveSecurities
38691751 shares
hofv Antidilutive Securities
AntidilutiveSecurities
81607417 shares
hofv Antidilutive Securities
AntidilutiveSecurities
52489246 shares
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
7700000 usd
CY2022Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
3400000 usd
CY2022Q1 us-gaap Prepaid Rent
PrepaidRent
4400000 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
293352312 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
230104137 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
59064160 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
49643575 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
234288152 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
180460562 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
139989064 usd
CY2021Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
128721480 usd
CY2022Q3 us-gaap Depreciation Expense On Reclassified Assets
DepreciationExpenseOnReclassifiedAssets
2650719 usd
CY2021Q3 us-gaap Depreciation Expense On Reclassified Assets
DepreciationExpenseOnReclassifiedAssets
2993581 usd
us-gaap Depreciation Expense On Reclassified Assets
DepreciationExpenseOnReclassifiedAssets
9420585 usd
us-gaap Depreciation Expense On Reclassified Assets
DepreciationExpenseOnReclassifiedAssets
8886648 usd
us-gaap Capitalized Costs Of Unproved Properties Excluded From Amortization
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortization
52560589 usd
us-gaap Capitalized Costs Of Unproved Properties Excluded From Amortization
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortization
39514231 usd
CY2022Q3 us-gaap Property Plant And Equipment Transfers And Changes
PropertyPlantAndEquipmentTransfersAndChanges
27687727 usd
us-gaap Property Plant And Equipment Transfers And Changes
PropertyPlantAndEquipmentTransfersAndChanges
40556269 usd
CY2022Q3 us-gaap Theatrical Film Costs Development
TheatricalFilmCostsDevelopment
464000 usd
CY2021Q4 us-gaap Theatrical Film Costs Development
TheatricalFilmCostsDevelopment
464000 usd
CY2022Q3 hofv Notes Payable Gross
NotesPayableGross
181385301 usd
CY2022Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
17716012 usd
CY2022Q3 us-gaap Other Notes Payable Current
OtherNotesPayableCurrent
163669289 usd
CY2021Q4 hofv Notes Payable Gross
NotesPayableGross
115721706 usd
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
14361510 usd
CY2021Q4 us-gaap Other Notes Payable Current
OtherNotesPayableCurrent
101360196 usd
CY2022Q3 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1132440 usd
CY2021Q3 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1326620 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
3610738 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
3725347 usd
us-gaap Dividends Paidinkind
DividendsPaidinkind
2659044 usd
us-gaap Dividends Paidinkind
DividendsPaidinkind
1500382 usd
CY2020Q3 us-gaap Mortgage Loan Related To Property Sales1
MortgageLoanRelatedToPropertySales1
15300000 usd
CY2022Q3 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
1590563 usd
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
1669560 usd
hofv Conversion Price Per Share
ConversionPricePerShare
1.09
CY2022Q1 us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
38000 usd
CY2022Q1 hofv Conversion Price Per Share
ConversionPricePerShare
1.5
CY2022Q1 us-gaap Other Notes Payable
OtherNotesPayable
8347839 usd
CY2022Q1 hofv Payable Percentage
PayablePercentage
0.04 pure
hofv Description Of Notes Payable
DescriptionOfNotesPayable
As part of the consideration for the amendment: (i) the Company issued in a transaction exempt from registration pursuant to Section 4(a)(2) of the Securities Act: (A) 330,000 shares of Common Stock to CH Capital Lending, and (B) a warrant to purchase 1,000,000 shares of Common Stock (“Series E Warrant”) to CH Capital Lending, (ii) the Company was required to, subject to approval of its board of directors, create a series of preferred stock, to be known as 7.00% Series C Convertible Preferred Stock (“Series C Preferred Stock”), and, upon the request of CH Capital Lending, exchange each share of the Company’s Series B Convertible Preferred Stock, that is held by CH Capital Lending for one share of Series C Preferred Stock, and (iii) the Company and CH Capital Lending amended and restated the Series C Warrants and Series D Warrants that the Company issued to CH Capital Lending. 
hofv Expire Date
ExpireDate
2027-03-01
CY2022Q2 us-gaap Securities Loaned
SecuritiesLoaned
4000000 usd
CY2022Q2 hofv Commitment Fee Shares
CommitmentFeeShares
the consideration for making the Loan, on June 8, 2022, the Company issued to MLF: (A) 125,000 shares (the “Commitment Fee Shares”) of Common Stock, and (B) a warrant to purchase 125,000 shares of Common Stock (“Series G Warrants”). The exercise price of the Series G Warrants will be $1.50 per share. The Series G Warrants will become exercisable one year after issuance, subject to certain terms and conditions set forth in the Series G Warrants. Unexercised Series G Warrants will expire five years after issuance. The exercise price of the Series G Warrants will be subject to a weighted-average antidilution adjustment.
CY2022Q2 hofv Receive Amount
ReceiveAmount
3200000 usd
hofv Receive Amount
ReceiveAmount
1059994 usd
CY2022Q2 hofv Loan Agreement Amount
LoanAgreementAmount
5000000 usd
hofv Debt Instrument Interest Rate Effective Percentages
DebtInstrumentInterestRateEffectivePercentages
0.05 pure
CY2022Q2 us-gaap Securities Borrowed
SecuritiesBorrowed
10500000 usd
CY2022Q2 hofv Debt Instrument Interest Rate Effective Percentages
DebtInstrumentInterestRateEffectivePercentages
0.12 pure
us-gaap Cost Of Goods Sold Direct Financing Lease
CostOfGoodsSoldDirectFinancingLease
33387844 usd
CY2022Q3 us-gaap Incentive To Lessee
IncentiveToLessee
29565729 usd
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
3221927 usd
us-gaap Sale Leaseback Transaction Transaction Costs Financing Activities
SaleLeasebackTransactionTransactionCostsFinancingActivities
600187 usd
CY2022Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.06 pure
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
6542 usd
CY2022Q3 us-gaap Debt Instrument Annual Principal Payment
DebtInstrumentAnnualPrincipalPayment
1314913 usd
CY2022Q3 us-gaap Other Notes Payable
OtherNotesPayable
10030000 usd
CY2022Q3 us-gaap Deposit Assets
DepositAssets
9895197 usd
CY2022Q3 us-gaap Debt Instrument Unused Borrowing Capacity Amount
DebtInstrumentUnusedBorrowingCapacityAmount
5000000 usd
CY2022Q3 hofv Debt Instrument Interest Rate Effective Percentages
DebtInstrumentInterestRateEffectivePercentages
0.06 pure
CY2022Q3 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.05 pure
CY2022Q3 us-gaap Debt Instrument Unused Borrowing Capacity Amount
DebtInstrumentUnusedBorrowingCapacityAmount
5000000 usd
CY2022Q3 hofv Loan Percentage
LoanPercentage
0.06 pure
CY2022Q3 hofv Per Annum Interest
PerAnnumInterest
0.05 pure
CY2022Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
10000000 usd
hofv Principal Loan Percentage
PrincipalLoanPercentage
0.0015 pure
CY2022Q3 hofv Loan Proceeds Percentage
LoanProceedsPercentage
0.025 pure
hofv Loan Agreement Amount
LoanAgreementAmount
50000 usd
hofv Loan Agreement Excess Amount
LoanAgreementExcessAmount
50000 usd
CY2022Q3 hofv Per Annum Interest
PerAnnumInterest
0.05 pure
hofv Loan Percentage
LoanPercentage
0.65 pure
CY2022Q3 hofv Agreement Amount
AgreementAmount
10000000 usd
CY2022Q3 us-gaap Investment Interest Rate
InvestmentInterestRate
0.04 pure
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
8780840 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
16889801 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
35375531 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
32284792 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
2028797 usd
CY2022Q3 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
86025540 usd
CY2022Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
181385301 usd
CY2022Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
17716012 usd
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
163669289 usd
CY2020Q4 hofv Increase Of Authorized Shares Description
IncreaseOfAuthorizedSharesDescription
On November 3, 2020, the Company’s stockholders approved an amendment to the Company’s charter to increase the authorized shares of Common Stock from 100,000,000 to 300,000,000. Consequently, the Company’s charter allows the Company to issue up to 300,000,000 shares of Common Stock and to issue and designate its rights, without stockholder approval, of up to 5,000,000 shares of preferred stock, par value $0.0001. 
CY2022Q3 us-gaap Shares Held In Employee Stock Option Plan Committed To Be Released
SharesHeldInEmployeeStockOptionPlanCommittedToBeReleased
639093 shares
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
654759 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
2814220 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
2406265 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
2317265 usd
CY2020Q3 hofv Amended And Restated Sponsorship And Naming Rights Agreement Description
AmendedAndRestatedSponsorshipAndNamingRightsAgreementDescription
On July 2, 2020, the Company entered into an Amended and Restated Sponsorship and Naming Rights Agreement (the “Naming Rights Agreement”) among Newco, PFHOF and Johnson Controls, Inc. (“JCI”), that amended and restated the Sponsorship and Naming Rights Agreement, dated as of November 17, 2016 (the “Original Sponsorship Agreement”). Among other things, the Amended Sponsorship Agreement: (i) reduced the total amount of fees payable to Newco during the term of the Amended Sponsorship Agreement from $135 million to $99 million; (ii) restricted the activation proceeds from rolling over from year to year with a maximum amount of activation proceeds in one agreement year to be $750,000; and (iii) renamed the “Johnson Controls Hall of Fame Village” to “Hall of Fame Village powered by Johnson Controls”. This is a prospective change, which the Company reflected beginning in the third quarter of 2020. 
CY2020Q4 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
217000000 usd
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
195000000 usd
CY2021 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
199000000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3312500 usd
CY2022Q3 us-gaap Receivable From Shareholders Or Affiliates For Issuance Of Capital Stock
ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock
5197917 usd
CY2021Q4 us-gaap Receivable From Shareholders Or Affiliates For Issuance Of Capital Stock
ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock
1885417 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
2167265 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
6271792 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
16631566 usd
CY2022Q3 hofv Revenue Recognized Net
RevenueRecognizedNet
748033 usd
CY2021Q3 hofv Revenue Recognized Net
RevenueRecognizedNet
1554454 usd
hofv Revenue Recognized Net
RevenueRecognizedNet
2020095 usd
hofv Revenue Recognized Net
RevenueRecognizedNet
4538292 usd
CY2019Q4 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.02 pure
CY2019Q4 hofv Base Management Fees
BaseManagementFees
10000 usd
CY2019Q4 hofv Commencement Date
CommencementDate
2024-10-22
CY2022Q3 hofv Management Fee Payables
ManagementFeePayables
51466 usd
CY2021Q3 hofv Management Fee Payables
ManagementFeePayables
30000 usd
hofv Management Fee Payables
ManagementFeePayables
114310 usd
hofv Management Fee Payables
ManagementFeePayables
90000 usd
CY2021Q1 us-gaap Escrow Deposit
EscrowDeposit
2000000 usd
CY2021Q2 us-gaap Retail Land Sales Installment Method Sales Value
RetailLandSalesInstallmentMethodSalesValue
103095 usd
CY2022Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
3588974 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
3537347 usd
CY2022Q3 hofv Deferred Sponsorship Revenue
DeferredSponsorshipRevenue
1549931 usd
CY2021Q4 hofv Deferred Sponsorship Revenue
DeferredSponsorshipRevenue
203278 usd
CY2022Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
261669 usd
CY2022Q3 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
5400574 usd
CY2021Q4 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
3740625 usd
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif"><b>Note 8: Contingencies</b></span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif">During the normal course of its business, the Company is subject to occasional legal proceedings and claims. The Company does not have any pending litigation that, separately or in the aggregate, would, in the opinion of management, have a material adverse effect on its results of operations, financial condition, or cash flows.</span></p>
CY2022Q3 us-gaap Due From Related Parties
DueFromRelatedParties
3709773 usd
CY2021Q4 us-gaap Due From Related Parties
DueFromRelatedParties
1818955 usd
CY2022Q3 hofv Percentage Of Development Costs
PercentageOfDevelopmentCosts
0.04 pure
CY2020Q1 hofv Financing From Constellation
FinancingFromConstellation
9900000 usd
CY2016Q1 hofv Membership Purchase Agreement Description
MembershipPurchaseAgreementDescription
On March 10, 2016, the Company entered into a license agreement with PFHOF, whereby the Company has the ability to license and use certain intellectual property from PFHOF in exchange for the Company paying a fee based on certain sponsorship revenues and expenses.
CY2018Q4 hofv License Agreement Description
LicenseAgreementDescription
the license agreement was amended to change the calculation of the fee to be 20% of eligible sponsorship revenue. The license agreement was further amended in a First Amended and Restated License Agreement, dated September 16, 2019. The license agreement expires on December 31, 2033.
CY2020Q3 hofv Media License Agreement Description
MediaLicenseAgreementDescription
On July 1, 2020, the Company entered into an Amended and Restated Media License Agreement that terminates on December 31, 2034. In consideration of a license to use certain intellectual property of PFHOF, the Company agreed to pay PFHOF minimum guaranteed license fees of $1,250,000 each year during the term. After the first five years of the agreement, the minimum guarantee shall increase by 3% on a year-over-year basis.
CY2021Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1750000 usd
CY2022Q2 hofv Global License Agreement Description
GlobalLicenseAgreementDescription
The Global License Agreement requires Newco to pay PFHOF an annual license fee of $900,000 in the first contract year, inclusive of calendar years 2021 and 2022; an annual license fee of $600,000 in each of contract years two through six; and an annual license fee of $750,000 per year starting in contract year seven through the end of the initial term. The Global License Agreement also provides for an additional license royalty payment by Newco to PFHOF for certain usage above specified financial thresholds, as well as a commitment to support PFHOF museum attendance through Newco’s and its affiliates’ ticket sales for certain concerts and youth sports tournaments. The Global License Agreement has an initial term through December 31, 2036, subject to automatic renewal for successive five-year terms, unless timely notice of non-renewal is provided by either party.
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
318750 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
600000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
600000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
600000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
600000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
7350000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10068750 usd
CY2022Q3 hofv Paid Annual License Fee
PaidAnnualLicenseFee
212500 usd
CY2021Q3 hofv Paid Annual License Fee
PaidAnnualLicenseFee
0 usd
hofv Paid Annual License Fee
PaidAnnualLicenseFee
581250 usd
hofv Paid Annual License Fee
PaidAnnualLicenseFee
0 usd
CY2022Q1 us-gaap Gain Loss On Sale Of Leased Assets Net Operating Leases
GainLossOnSaleOfLeasedAssetsNetOperatingLeases
7741946 usd
CY2022Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
3383807 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
386279 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
238723 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P91Y9M18D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.10 pure
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
79574 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
333004 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
311900 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
311900 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
311900 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
41436900 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
42785178 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
39376286 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
3408892 usd
CY2022Q3 hofv Sale Leaseback Repayable Term
SaleLeasebackRepayableTerm
P99Y
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
307125 usd
CY2022Q3 hofv Lease Percentage
LeasePercentage
0.02 pure
CY2022Q3 us-gaap Lessee Finance Lease Discount Rate
LesseeFinanceLeaseDiscountRate
0.1025 pure
us-gaap Financing Interest Expense
FinancingInterestExpense
14720879 usd
us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
867641 usd
us-gaap Lease Cost
LeaseCost
2631481 usd
CY2022Q3 us-gaap Capital Leases Future Minimum Payments Due In Rolling Year Three
CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree
313268 usd
CY2022Q3 us-gaap Capital Leases Future Minimum Payments Due In Rolling Year Four
CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour
1278131 usd
CY2022Q3 us-gaap Capital Leases Future Minimum Payments Due In Rolling Year Five
CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive
1303694 usd
CY2022Q3 us-gaap Capital Leases Future Minimum Payments Due In Rolling After Year Five
CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive
367649843 usd
CY2022Q3 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
370544936 usd
CY2022Q3 us-gaap Receivable With Imputed Interest Net Amount
ReceivableWithImputedInterestNetAmount
355824057 usd
CY2022Q3 us-gaap Capital Leased Assets Gross
CapitalLeasedAssetsGross
14720879 usd
CY2022Q3 us-gaap Derivative Cap Interest Rate
DerivativeCapInterestRate
0.05413 pure
us-gaap Defined Benefit Plan Administration Expenses
DefinedBenefitPlanAdministrationExpenses
6077738 usd
hofv Discriptionof Agreement
DiscriptionofAgreement
The term is approximately 24.75 years with the first debt service payment due December 1, 2022 and final payment December 1, 2046.
hofv Construction Loan Description
ConstructionLoanDescription
The Hotel Construction Loan will bear interest at a variable rate per annum equal to the one-month Term SOFR plus 6%, subject to a SOFR floor equal to the greater of (i) 4% and (ii) prevailing SOFR at closing of the Hotel Construction Loan. Payments of interest only will be made during the initial two-year term, with a payments of principal and interest based on a 25-year amortization during the extension term, if applicable. Hotel will pay 1% of the Hotel Construction Loan amount as an origination fee, payable in full at closing. The Hotel Construction Loan definitive documentation will have representations, warranties and events of default usual and customary for such type of loan.
us-gaap Payments For Fees
PaymentsForFees
4500000 usd
CY2022Q3 us-gaap Shares Issued
SharesIssued
2000000 shares
CY2022Q3 us-gaap Share Price
SharePrice
0.0001
hofv Interest Rate Percentage
InterestRatePercentage
0.08 pure
hofv Official Closing Price Percentage
OfficialClosingPricePercentage
1.05 pure
hofv Market Price Percentage
MarketPricePercentage
0.0058 pure
hofv Common Stock Description
CommonStockDescription
In the IRG Letter Agreement, IRGLLC and the Company agreed to comply with all federal and state securities laws and Nasdaq listing rules and to insert “blocker” provisions for the above-described re-pricing of the warrants and the conversion provisions, such that the total cumulative number of shares of Common Stock that may be issued to IRGLLC and its affiliated and related parties pursuant to the IRG Letter Agreement may not exceed the requirements of Nasdaq Listing Rule 5635(d) (“Nasdaq 19.99% Cap”), except that such limitation will not apply following Approval (defined below).
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
usd
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
usd
CY2021Q4 hofv Convertible Preferred Stock Value2
ConvertiblePreferredStockValue2
usd
CY2021Q3 hofv Gain Loss On Forgiveness Of Debt
GainLossOnForgivenessOfDebt
usd
CY2021Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
usd
CY2022Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
usd
CY2022Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
usd
CY2022Q1 hofv Stock Issued During Period Value Of Preferred Stock Dividends
StockIssuedDuringPeriodValueOfPreferredStockDividends
usd
CY2022Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
usd
CY2022Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
usd
hofv Amendment Of Series C Warrant Liability For Equity Classification
AmendmentOfSeriesCWarrantLiabilityForEquityClassification
usd
hofv Amendment Of Series C And D Warrants
AmendmentOfSeriesCAndDWarrants
usd
hofv Initial Value Of Warrants Accounted For As Liabilities
InitialValueOfWarrantsAccountedForAsLiabilities
usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
usd
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
usd
us-gaap Proceeds From Other Equity
ProceedsFromOtherEquity
usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
usd
hofv Proceeds From Sale Of Common Stock Under Atm
ProceedsFromSaleOfCommonStockUnderATM
usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
usd
hofv Settlement Of Warrant Liability
SettlementOfWarrantLiability
usd
hofv Shares Issued In Connection With Amendment Of Notes Payable
SharesIssuedInConnectionWithAmendmentOfNotesPayable
usd
hofv Warrants Issued In Connection With Amendment Of Notes Payable
WarrantsIssuedInConnectionWithAmendmentOfNotesPayable
usd
hofv Shares Issued In Connection With Issuance Of Notes Payable
SharesIssuedInConnectionWithIssuanceOfNotesPayable
usd
CY2022Q3 us-gaap Capital Leases Future Minimum Payments Next Rolling Twelve Months
CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths
usd
CY2022Q3 us-gaap Capital Leases Future Minimum Payments Due In Rolling Year Two
CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001708176

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