$HOFV
Hall of Fame Resort & Entertainment Co

2023 Q4 Form 10-Q Financial Statement

#000121390023086921 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $6.137M $8.745M
YoY Change 143.23% 0.93%
Cost Of Revenue $1.631M $1.810M
YoY Change -2.41% 0.02%
Gross Profit $4.506M $6.930M
YoY Change 428.8% 1.1%
Gross Profit Margin 73.43% 79.25%
Selling, General & Admin $7.539M $12.41M
YoY Change -3.49% -10.36%
% of Gross Profit 167.31% 179.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.580M $4.560M
YoY Change 75.02% 72.02%
% of Gross Profit 101.63% 65.8%
Operating Expenses $12.12M $18.78M
YoY Change 26.99% 1.36%
Operating Profit -$7.617M -$10.04M
YoY Change -12.39% 1.74%
Interest Expense -$8.883M $6.027M
YoY Change 107.37% 260.8%
% of Operating Profit
Other Income/Expense, Net $196.1K -$6.126M
YoY Change -80.69% 460.55%
Pretax Income -$19.90M -$16.16M
YoY Change 9.42% 47.45%
Income Tax
% Of Pretax Income
Net Earnings -$20.16M -$16.16M
YoY Change 8.94% 47.49%
Net Earnings / Revenue -328.54% -184.84%
Basic Earnings Per Share -$2.89
Diluted Earnings Per Share -$3.18 -$2.89
COMMON SHARES
Basic Shares Outstanding 6.435M shares 5.672M shares
Diluted Shares Outstanding 5.673M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.243M $4.300M
YoY Change -87.53% -72.98%
Cash & Equivalents $11.82M $11.76M
Short-Term Investments
Other Short-Term Assets $3.514M $3.500M
YoY Change 5.2% 6.55%
Inventory
Prepaid Expenses
Receivables $1.108M $3.700M
Other Receivables $0.00 $0.00
Total Short-Term Assets $7.866M $11.50M
YoY Change -74.76% -49.49%
LONG-TERM ASSETS
Property, Plant & Equipment $344.4M $368.0M
YoY Change 38.4% 57.08%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.800M
YoY Change
Other Assets $8.573M $7.500M
YoY Change 14.31% -55.06%
Total Long-Term Assets $434.0M $435.6M
YoY Change 2.09% 9.28%
TOTAL ASSETS
Total Short-Term Assets $7.866M $11.50M
Total Long-Term Assets $434.0M $435.6M
Total Assets $441.9M $447.1M
YoY Change -3.16% 6.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.83M $21.80M
YoY Change 24.18% -8.32%
Accrued Expenses $3.441M $3.400M
YoY Change 0.8% -0.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $62.98M $62.00M
YoY Change 4.82% 321.17%
Total Short-Term Liabilities $89.54M $88.50M
YoY Change 9.29% 94.01%
LONG-TERM LIABILITIES
Long-Term Debt $219.5M $202.3M
YoY Change 28.15% 23.6%
Other Long-Term Liabilities $6.084M $12.10M
YoY Change -48.4% 4524.16%
Total Long-Term Liabilities $225.6M $214.4M
YoY Change 23.22% 81835.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $89.54M $88.50M
Total Long-Term Liabilities $225.6M $214.4M
Total Liabilities $315.2M $302.9M
YoY Change 18.91% 40.14%
SHAREHOLDERS EQUITY
Retained Earnings -$216.6M -$196.5M
YoY Change 47.48% 53.03%
Common Stock $643.00 $567.00
YoY Change 14.82% -95.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $127.7M $145.1M
YoY Change
Total Liabilities & Shareholders Equity $441.9M $447.1M
YoY Change -3.16% 6.1%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$20.16M -$16.16M
YoY Change 8.94% 47.49%
Depreciation, Depletion And Amortization $4.580M $4.560M
YoY Change 75.02% 72.02%
Cash From Operating Activities -$7.390M $70.00K
YoY Change 1.15% -102.33%
INVESTING ACTIVITIES
Capital Expenditures $7.761M $18.15M
YoY Change -55.15% -147.97%
Acquisitions
YoY Change
Other Investing Activities $4.490K $12.55M
YoY Change -100.03%
Cash From Investing Activities -$7.756M -$5.600M
YoY Change -77.36% -85.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 15.21M 430.0K
YoY Change -64.21% -99.23%
NET CHANGE
Cash From Operating Activities -7.390M 70.00K
Cash From Investing Activities -7.756M -5.600M
Cash From Financing Activities 15.21M 430.0K
Net Change In Cash 59.69K -5.100M
YoY Change -93.46% -134.52%
FREE CASH FLOW
Cash From Operating Activities -$7.390M $70.00K
Capital Expenditures $7.761M $18.15M
Free Cash Flow -$15.15M -$18.08M
YoY Change -38.44% -151.91%

Facts In Submission

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dei Document Quarterly Report
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dei Document Period End Date
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dei Document Fiscal Year Focus
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dei Entity Registrant Name
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HALL OF FAME RESORT & ENTERTAINMENT COMPANY
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
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dei Entity Tax Identification Number
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CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
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CY2022Q3 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
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CY2022Q3 us-gaap Stock Issued During Period Value Other
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CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
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266000 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
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CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Depreciation
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us-gaap Depreciation
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us-gaap Amortization Of Debt Discount Premium
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us-gaap Amortization Of Debt Discount Premium
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us-gaap Accretion Expense
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5146586 usd
us-gaap Asset Impairment Charges
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1305000 usd
us-gaap Investment Income Interest
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563652 usd
us-gaap Paid In Kind Interest
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us-gaap Paid In Kind Interest
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
148796 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
163850 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-128000 usd
us-gaap Fair Value Adjustment Of Warrants
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us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
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us-gaap Gain Loss On Sale Of Investments
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1683246 usd
us-gaap Share Based Compensation
ShareBasedCompensation
2520210 usd
us-gaap Share Based Compensation
ShareBasedCompensation
3277879 usd
us-gaap Other Noncash Expense
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390502 usd
us-gaap Other Noncash Expense
OtherNoncashExpense
134111 usd
us-gaap Increase Decrease In Accounts Receivable
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1935867 usd
us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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124927 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Increase Decrease In Operating Lease Liability
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13436 usd
us-gaap Increase Decrease In Due To Affiliates
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396876 usd
us-gaap Increase Decrease In Due To Affiliates
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2740818 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1034870 usd
us-gaap Increase Decrease In Other Operating Liabilities
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1659949 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
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2413959 usd
us-gaap Payments To Acquire Held To Maturity Securities
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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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241691 usd
us-gaap Payments To Acquire Other Property Plant And Equipment
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us-gaap Payments To Acquire Other Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Notes Payable
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24270339 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
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us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1069800 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
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us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1554048 usd
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
5447177 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
3281250 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
450000 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
450000 usd
hofv Payment For Repurchase Of Interest Rate Swap
PaymentForRepurchaseOfInterestRateSwap
36150 usd
hofv Proceeds From Failed Sale Leaseback
ProceedsFromFailedSaleLeaseback
15588519 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
39261 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
20403517 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
17918352 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
90663480 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-21757101 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
15215100 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33516382 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17388040 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11759281 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32603140 usd
CY2023Q3 us-gaap Cash
Cash
4307380 usd
CY2022Q3 us-gaap Cash
Cash
15913191 usd
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
7451901 usd
CY2022Q3 us-gaap Restricted Cash
RestrictedCash
16689949 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11759281 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32603140 usd
us-gaap Interest Paid Net
InterestPaidNet
6553721 usd
us-gaap Interest Paid Net
InterestPaidNet
4466500 usd
hofv Project Development Cost Acquired Through Accounts Payable And Accrued Expenses Net
ProjectDevelopmentCostAcquiredThroughAccountsPayableAndAccruedExpensesNet
334658 usd
hofv Amendment Of Series C Warrant Liability For Equity Classification
AmendmentOfSeriesCWarrantLiabilityForEquityClassification
3336000 usd
hofv Amendment Of Series C And D Warrants
AmendmentOfSeriesCAndDWarrants
400000 usd
hofv Initial Value Of Right Of Use Asset Upon Adoption Of Asc842
InitialValueOfRightOfUseAssetUponAdoptionOfASC842
7741955 usd
hofv Accrued Series B Preferred Stock Dividends
AccruedSeriesBPreferredStockDividends
348000 usd
hofv Accrued Series B Preferred Stock Dividends
AccruedSeriesBPreferredStockDividends
348000 usd
hofv Shares Issued In Connection With Amendment Of Notes Payable
SharesIssuedInConnectionWithAmendmentOfNotesPayable
803061 usd
us-gaap Notes Issued1
NotesIssued1
1088515 usd
hofv Amounts Due To Affiliate Exchanged For Note Payable
AmountsDueToAffiliateExchangedForNotePayable
850000 usd
hofv Shares Issued In Connection With Issuance Of Notes Payable
SharesIssuedInConnectionWithIssuanceOfNotesPayable
75419 usd
hofv Warrants Issued In Connection With Issuance Of Notes Payable
WarrantsIssuedInConnectionWithIssuanceOfNotesPayable
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us-gaap Nature Of Operations
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>Note 1: Organization, Nature of Business, and Liquidity</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><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: 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 0; text-align: justify; text-indent: 0.45pt"><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; text-indent: 0.45pt"><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 0; text-align: justify; text-indent: 0.45pt"><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 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 0; text-align: justify; text-indent: 0.45pt"><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">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 DoubleTree by Hilton located in downtown Canton and the Hall of Fame Village, which is 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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45pt"><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; text-indent: 0.45pt"><span style="font-family: Times New Roman, Times, Serif">The Company has entered into multiple agreements with PFHOF, 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 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 on a direct-cost basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45pt"><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: center"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Reverse Stock Split</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><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 December 27, 2022, the Company effectuated a reverse stock split of its shares of common stock at a ratio of 1-for-22. See Note 5, Stockholders’ Equity, for additional information. As a result, the number of shares and income (loss) per share disclosed throughout this Quarterly Report on Form 10-Q have been retrospectively adjusted to reflect the reverse stock split.</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"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Liquidity and Going Concern</span></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"> </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">The Company has sustained recurring losses through September 30, 2023 and the Company’s accumulated deficit was $196,480,832 as of such date. Since inception, the Company’s operations have been funded principally through the issuance of debt and equity. As of September 30, 2023, the Company had approximately $4.3 million of unrestricted cash and $7.5 million of restricted cash. The Company has approximately $51.2 million of debt coming due through November 14, 2024. The Company may extend the maturity of up to $42.1 million principal of debt until March 31, 2025 for a fee of one percent of the outstanding principal. These factors raise substantial doubt about the Company’s ability to continue operations as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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"> </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">The Company has entered into the following financing transactions. See Note 4 for more information on these transactions.</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"> </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">In January 2023, the Company sold 2,400 shares of the Company’s 7.00% Series A Cumulative Redeemable Preferred Stock, par value $0.0001 per share for an aggregate purchase price of $2,400,000.</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"> </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 February 2, 2023, the Company received proceeds from the issuance by Stark County Port Authority of $18,100,000 principal amount Tax Increment Financing Revenue Bonds, Series 2023.</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"> </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 May 2, 2023, the Company issued 800 shares of the Company’s 7.00% Series A Cumulative Redeemable Preferred Stock at a price of $1,000 per share for an aggregate purchase price of $800,000.</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"> </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 21, 2023, CH Capital Lending, LLC succeeded to the rights and obligations of The Huntington National Bank (“HNB”) under the Loan Agreement and the Company borrowed $2,000,000 for the purpose of paying the costs of construction of the Hall of Fame Village Waterpark.</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"> </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">The Company expects that it will need to raise additional financing to accomplish its development plan and fund its working capital. 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, or it may not be able to continue to fund its ongoing operations. If management is unable to execute its planned debt and equity financing initiatives, these conditions raise substantial doubt about the Company’s ability to continue as a going concern to sustain operations for at least one year from the issuance of these condensed consolidated financial statements. The accompanying condensed consolidated financial statements do not include any adjustments that might result from the outcome of these uncertainties. </span></p>
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2023Q3 us-gaap Cash
Cash
4300000 usd
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
7500000 usd
CY2023Q3 us-gaap Debt Securities
DebtSecurities
51200000 usd
CY2023Q3 us-gaap Debt Default Longterm Debt Amount
DebtDefaultLongtermDebtAmount
42100000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
18100000 usd
CY2023Q3 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
2000000 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Reclassification</span></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">Certain financial statement line items of the Company’s historical presentation have been reclassified to conform to the corresponding financial statement line items in 2023. These reclassifications have no material impact on the historical operating loss, net loss, total assets, total liabilities, or Stockholders’ equity previously reported.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; 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 credit losses, depreciation, costs capitalized to project development costs, useful lives of long-lived assets, potential impairment, accounting for debt modifications and extinguishments, 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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></p>
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
7451901 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
7499835 usd
CY2022Q4 us-gaap Assets Held In Trust
AssetsHeldInTrust
17033515 usd
CY2023Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
5751000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
4067754 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
9140320 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
5575700 usd
CY2023Q3 us-gaap Payments For Film Costs
PaymentsForFilmCosts
0 usd
us-gaap Payments For Film Costs
PaymentsForFilmCosts
1305000 usd
us-gaap Payments For Film Costs
PaymentsForFilmCosts
0 usd
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
1145000 usd
CY2023Q3 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
404000 usd
CY2022Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
911000 usd
CY2022Q4 us-gaap Interest Rate Fair Value Hedge Liability At Fair Value
InterestRateFairValueHedgeLiabilityAtFairValue
200000 usd
CY2023Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
5751000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
4067754 usd
CY2022Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
911000 usd
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
507000 usd
CY2023Q3 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
404000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6213052 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3709427 shares
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
440186675 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
310503989 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
72163471 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
61677136 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
368023204 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
248826853 usd
CY2023Q3 hofv Project Development Costs
ProjectDevelopmentCosts
46891983 usd
CY2022Q4 hofv Project Development Costs
ProjectDevelopmentCosts
140138924 usd
CY2023Q3 us-gaap Depreciation
Depreciation
4559899 usd
CY2022Q3 us-gaap Depreciation
Depreciation
2650719 usd
us-gaap Depreciation
Depreciation
10486335 usd
us-gaap Depreciation
Depreciation
9420585 usd
us-gaap Capitalized Costs Of Unproved Properties Excluded From Amortization
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortization
33174328 usd
us-gaap Capitalized Costs Of Unproved Properties Excluded From Amortization
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us-gaap Property Plant And Equipment Transfers And Changes
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us-gaap Property Plant And Equipment Transfers And Changes
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CY2023Q3 us-gaap Theatrical Film Costs Development
TheatricalFilmCostsDevelopment
200000 usd
CY2022Q4 us-gaap Theatrical Film Costs Development
TheatricalFilmCostsDevelopment
982000 usd
CY2023Q3 us-gaap Debt Instrument Carrying Amount
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CY2023Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
10422920 usd
CY2023Q3 us-gaap Long Term Debt
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CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
13879712 usd
CY2022Q4 us-gaap Long Term Debt
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171315860 usd
CY2023Q3 us-gaap Amortization Of Financing Costs And Discounts
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CY2022Q3 us-gaap Amortization Of Financing Costs And Discounts
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us-gaap Amortization Of Financing Costs And Discounts
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3157815 usd
us-gaap Amortization Of Financing Costs And Discounts
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us-gaap Interest Income Operating Paid In Kind
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us-gaap Interest Income Operating Paid In Kind
InterestIncomeOperatingPaidInKind
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CY2022Q1 us-gaap Gain Loss On Sale Of Mortgage Loans
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7400000 usd
CY2023Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
1588981 usd
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
966062 usd
CY2023Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
18100000 usd
CY2023Q1 us-gaap Buildings And Improvements Gross
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6800000 usd
CY2022Q4 us-gaap Loans Held For Sale Maturity Date
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2025-03-31
CY2022Q4 us-gaap Property Management Fee Percent Fee
PropertyManagementFeePercentFee
0.01 pure
us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
90909 shares
us-gaap Debt Instrument Interest Rate Increase Decrease
DebtInstrumentInterestRateIncreaseDecrease
0.125 pure
CY2023Q3 us-gaap Investment Interest Rate Paid In Kind
InvestmentInterestRatePaidInKind
0.045 pure
CY2023Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
12.77
CY2022Q2 us-gaap Stockholders Equity Other Shares
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5681 shares
CY2022Q3 us-gaap Derivative Notional Amount
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10000000 usd
CY2022Q3 us-gaap Derivative Fixed Interest Rate
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0.04 pure
CY2023Q3 us-gaap Payments Of Loan Costs
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2000000 usd
CY2023Q3 us-gaap Debt Instrument Unused Borrowing Capacity Amount
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CY2023Q3 us-gaap Debt Instrument Cumulative Sinking Fund Payments
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
4710794 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
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CY2023Q3 us-gaap Debt Instrument Carrying Amount
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212730901 usd
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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10422920 usd
CY2023Q3 us-gaap Long Term Debt
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202307981 usd
us-gaap Repayments Of Long Term Debt
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us-gaap Stockholders Equity Other
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CY2020Q4 us-gaap Common Stock Shares Issued
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CY2020Q4 hofv Stockholder Approval
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CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2020Q3 us-gaap Stock Issued During Period Shares Employee Benefit Plan
StockIssuedDuringPeriodSharesEmployeeBenefitPlan
82397 shares
CY2021Q2 us-gaap Stock Issued During Period Shares Employee Benefit Plan
StockIssuedDuringPeriodSharesEmployeeBenefitPlan
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CY2023Q2 us-gaap Stock Issued During Period Shares Employee Benefit Plan
StockIssuedDuringPeriodSharesEmployeeBenefitPlan
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us-gaap Stock Issued During Period Shares Employee Benefit Plan
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CY2023Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
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4878 shares
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
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43273 usd
us-gaap Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
151.8
CY2022Q4 us-gaap Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
12.77
hofv Relative Rights Of Equity Percentage
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0.07 pure
CY2023Q1 us-gaap Preferred Stock Redemption Price Per Share
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1000
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
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1600000 usd
CY2023Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
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CY2023Q1 us-gaap Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
1000
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
800000 usd
CY2023Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
800 shares
CY2023Q2 hofv Relative Rights Of Equity Percentage
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0.07 pure
CY2023Q2 us-gaap Preferred Stock Redemption Price Per Share
PreferredStockRedemptionPricePerShare
0.0001
CY2023Q2 us-gaap Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
1000
CY2023Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
800000 usd
CY2022Q2 us-gaap Sale Of Stock Price Per Share
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0.0001
CY2023Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
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110000 shares
CY2020Q3 us-gaap Proceeds From Related Party Debt
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750000 usd
CY2020Q4 us-gaap Other Commitment
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CY2022Q2 hofv Received Amount
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us-gaap Premiums Receivable Allowance For Doubtful Accounts Write Offs Against Allowance
PremiumsReceivableAllowanceForDoubtfulAccountsWriteOffsAgainstAllowance
8375000 usd
CY2022 us-gaap Premiums Receivable Allowance For Doubtful Accounts Write Offs Against Allowance
PremiumsReceivableAllowanceForDoubtfulAccountsWriteOffsAgainstAllowance
4812500 usd
CY2023Q3 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
10260417 usd
CY2022Q4 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
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CY2023Q3 us-gaap Deferred Income Revenue Recognized
DeferredIncomeRevenueRecognized
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CY2022Q3 us-gaap Deferred Income Revenue Recognized
DeferredIncomeRevenueRecognized
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us-gaap Deferred Income Revenue Recognized
DeferredIncomeRevenueRecognized
2054464 usd
us-gaap Deferred Income Revenue Recognized
DeferredIncomeRevenueRecognized
2020095 usd
CY2019Q4 us-gaap Revenue Remaining Performance Obligation Percentage
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0.0275 pure
CY2019Q4 hofv Agreement Percentage
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0.02 pure
CY2019Q4 hofv Base Management Fees
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10000 usd
CY2023Q3 us-gaap Management Fee Expense
ManagementFeeExpense
61830 usd
CY2022Q3 us-gaap Management Fee Expense
ManagementFeeExpense
51466 usd
us-gaap Management Fee Expense
ManagementFeeExpense
162581 usd
us-gaap Management Fee Expense
ManagementFeeExpense
114310 usd
CY2020Q4 hofv Percentage Of Gross Sales
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0.05 pure
CY2020Q4 hofv Agreement Term
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P10Y
CY2021Q2 us-gaap Retail Land Sales Installment Method Sales Value
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103095 usd
CY2023Q3 hofv Activation Fund Reserves
ActivationFundReserves
3601209 usd
CY2022Q4 hofv Activation Fund Reserves
ActivationFundReserves
3511185 usd
CY2023Q3 us-gaap Deferred Revenue
DeferredRevenue
7617867 usd
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
6867970 usd
CY2023Q3 us-gaap Deposit Contracts Liabilities
DepositContractsLiabilities
495498 usd
CY2022Q4 us-gaap Deposit Contracts Liabilities
DepositContractsLiabilities
300549 usd
CY2023Q3 us-gaap Other Liabilities
OtherLiabilities
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CY2022Q4 us-gaap Other Liabilities
OtherLiabilities
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us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>Note 8: Contingencies</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><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>
CY2023Q3 hofv Percentage Of Development Costs
PercentageOfDevelopmentCosts
0.04 pure
us-gaap Payments For Fees
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600000 usd
CY2023Q3 us-gaap Other Commitment Due In Next Twelve Months
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600000 usd
CY2023Q3 us-gaap Other Commitment Due In Second Year
OtherCommitmentDueInSecondYear
600000 usd
CY2023Q3 us-gaap Other Commitment Due In Third Year
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600000 usd
CY2023Q3 us-gaap Other Commitment Due In Fourth Year
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600000 usd
CY2023Q3 us-gaap Other Commitment Due In Fifth Year
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6750000 usd
CY2023Q3 us-gaap Other Commitment
OtherCommitment
9150000 usd
CY2023Q3 us-gaap Payments For Fees
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300000 usd
CY2022Q3 us-gaap Payments For Fees
PaymentsForFees
212500 usd
us-gaap Payments For Fees
PaymentsForFees
581250 usd
CY2023Q3 us-gaap Area Of Land
AreaOfLand
1.64 sqm
hofv Hotel Construction Loan Description
HotelConstructionLoanDescription
(a) a first priority perfected mortgage encumbering the Hotel Property; (b) a first priority perfected assignment of leases and rents with respect to the Hotel Property; (c) a first priority perfected assignment of all permits, licenses, entitlements, approvals, and contracts with respect to the Hotel Property; (d) UCC-1 financing statements (all personal property, fixture filing and accounts and reserves); (e) equity pledge; and (f) all other agreements and assurances customary in similar financings by IRGInc. 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.
hofv Percentage Of Bear Interest
PercentageOfBearInterest
0.125 pure
hofv Accrued Interest Percentage
AccruedInterestPercentage
0.08 pure
CY2023Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
12.77
CY2023Q3 us-gaap Percentage Of Unamortized Film Costs
PercentageOfUnamortizedFilmCosts
0.25 pure
hofv Irg Letter Agreement Description
IRGLetterAgreementDescription
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 of the Company’s stockholders. In addition, the provisions of the IRG Letter Agreement are limited by Nasdaq Listing Rule 5635(c).
us-gaap Related Party Transaction Effects Of Any Change In Method Of Establishing Terms
RelatedPartyTransactionEffectsOfAnyChangeInMethodOfEstablishingTerms
(i) issuance of shares of Common Stock in excess of the Nasdaq 19.99% Cap to IRG Affiliate Lenders with respect to transactions described in the IRG Letter Agreement; and (ii) the issuance to an entity wholly owned by a director of additional shares of Common Stock issuable upon the conversion of certain convertible debt and the exercise of certain warrants described in the IRG Letter Agreement.
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
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CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2023Q3 us-gaap Operating Lease Liability
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3425314 usd
CY2022Q4 us-gaap Operating Lease Liability
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3413210 usd
us-gaap Operating Lease Cost
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389330 usd
us-gaap Operating Lease Cost
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386279 usd
us-gaap Operating Lease Payments
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us-gaap Operating Lease Payments
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CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P90Y10M24D
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P91Y9M18D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.10 pure
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.10 pure
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78063 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2023Q3 us-gaap Operating Lease Liability
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3425314 usd
CY2023Q3 us-gaap Property Subject To Or Available For Operating Lease Gross
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CY2022Q4 us-gaap Property Subject To Or Available For Operating Lease Gross
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CY2023Q3 us-gaap Property Subject To Or Available For Operating Lease Accumulated Depreciation
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CY2022Q4 us-gaap Property Subject To Or Available For Operating Lease Accumulated Depreciation
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CY2023Q3 us-gaap Property Subject To Or Available For Operating Lease Net
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CY2022Q4 us-gaap Property Subject To Or Available For Operating Lease Net
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CY2023Q3 us-gaap Lease Income
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us-gaap Lease Income
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us-gaap Lease Income
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14318 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
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CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
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CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
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CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
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CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
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CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Five Years
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CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received
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CY2022Q3 us-gaap Sale Leaseback Transaction Lease Term
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CY2022Q3 us-gaap Payments For Rent
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CY2022Q3 hofv Annual Increases
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0.02 pure
CY2022Q4 us-gaap Payments For Rent
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4375000 usd
CY2023Q3 us-gaap Lessee Finance Lease Discount Rate
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0.1025 pure
CY2023Q3 us-gaap Finance Lease Liability
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61953243 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due
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2200799025 usd
CY2023Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
2138845782 usd
CY2022Q4 us-gaap Finance Lease Liability
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CY2022Q4 us-gaap Finance Lease Liability Payments Due
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2204080276 usd
CY2022Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
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CY2023Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
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CY2023Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Two
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CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Three
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CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Four
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CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Five
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CY2023Q3 us-gaap Finance Lease Liability Payments Due
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2200799025 usd
CY2023Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
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2138845782 usd
CY2023Q3 us-gaap Finance Lease Liability
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CY2023Q3 us-gaap Assets Held In Trust
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CY2023Q3 us-gaap Gain Loss On Investments
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.57
us-gaap Earnings Per Share Diluted
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-8.77
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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5383462 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5672602 shares
CY2023Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
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CY2023Q1 hofv Stock Issued During Period Value Vesting Of Restricted Stock Units
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CY2023Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
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CY2023Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
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CY2023Q2 hofv Stock Issued During Period Value Vesting Of Restricted Stock Units
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CY2023Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
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CY2023Q3 hofv Stock Issued During Period Value Vesting Of Restricted Stock Units
StockIssuedDuringPeriodValueVestingOfRestrictedStockUnits
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CY2022Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
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CY2022Q1 hofv Stock Issued During Period Value Vesting Of Restricted Stock Units
StockIssuedDuringPeriodValueVestingOfRestrictedStockUnits
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CY2022Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
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CY2022Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
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CY2022Q2 hofv Stock Issued During Period Value Vesting Of Restricted Stock Units
StockIssuedDuringPeriodValueVestingOfRestrictedStockUnits
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CY2022Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
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CY2022Q3 hofv Stock Issued During Period Value Vesting Of Restricted Stock Units
StockIssuedDuringPeriodValueVestingOfRestrictedStockUnits
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us-gaap Accretion Expense
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us-gaap Asset Impairment Charges
AssetImpairmentCharges
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us-gaap Investment Income Interest
InvestmentIncomeInterest
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Gain Loss On Sale Of Investments
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us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
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us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
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hofv Payment For Repurchase Of Interest Rate Swap
PaymentForRepurchaseOfInterestRateSwap
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hofv Proceeds From Failed Sale Leaseback
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us-gaap Income Taxes Paid
IncomeTaxesPaid
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us-gaap Income Taxes Paid
IncomeTaxesPaid
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hofv Project Development Cost Acquired Through Accounts Payable And Accrued Expenses Net
ProjectDevelopmentCostAcquiredThroughAccountsPayableAndAccruedExpensesNet
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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 Right Of Use Asset Upon Adoption Of Asc842
InitialValueOfRightOfUseAssetUponAdoptionOfASC842
usd
hofv Shares Issued In Connection With Amendment Of Notes Payable
SharesIssuedInConnectionWithAmendmentOfNotesPayable
usd
us-gaap Notes Issued1
NotesIssued1
usd
hofv Amounts Due To Affiliate Exchanged For Note Payable
AmountsDueToAffiliateExchangedForNotePayable
usd
hofv Shares Issued In Connection With Issuance Of Notes Payable
SharesIssuedInConnectionWithIssuanceOfNotesPayable
usd
hofv Warrants Issued In Connection With Issuance Of Notes Payable
WarrantsIssuedInConnectionWithIssuanceOfNotesPayable
usd
CY2023Q3 us-gaap Interest Rate Fair Value Hedge Liability At Fair Value
InterestRateFairValueHedgeLiabilityAtFairValue
usd
CY2023Q3 us-gaap Assets Held In Trust
AssetsHeldInTrust
usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
4000000 usd
CY2023Q3 us-gaap Long Term Debt Maturity Date
LongTermDebtMaturityDate
2030-07-01
CY2023Q3 us-gaap Other Commitments Future Minimum Payments Remainder Of Fiscal Year
OtherCommitmentsFutureMinimumPaymentsRemainderOfFiscalYear
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

Files In Submission

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0001213900-23-086921-index-headers.html Edgar Link pending
0001213900-23-086921-index.html Edgar Link pending
0001213900-23-086921.txt Edgar Link pending
0001213900-23-086921-xbrl.zip Edgar Link pending
ex10-13_001.jpg Edgar Link pending
ex10-14_001.jpg Edgar Link pending
f10q0923ex10-11_halloffame.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
hofv-20230930.xsd Edgar Link pending
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hofv-20230930_cal.xml Edgar Link unprocessable
hofv-20230930_def.xml Edgar Link unprocessable
f10q0923_halloffame_htm.xml Edgar Link completed
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report.css Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
hofv-20230930_pre.xml Edgar Link unprocessable
hofv-20230930_lab.xml Edgar Link unprocessable