2023 Q1 Form 10-Q Financial Statement
#000149315223016408 Filed on May 11, 2023
Income Statement
Concept | 2023 Q1 | 2022 Q1 |
---|---|---|
Revenue | $1.729M | $3.322M |
YoY Change | -47.94% | 34.49% |
Cost Of Revenue | $1.249M | $2.014M |
YoY Change | -37.99% | 157.58% |
Gross Profit | $480.6K | $1.308M |
YoY Change | -63.25% | -22.6% |
Gross Profit Margin | 27.79% | 39.38% |
Selling, General & Admin | $3.398M | $5.112M |
YoY Change | -33.53% | -67.63% |
% of Gross Profit | 706.91% | 390.8% |
Research & Development | $2.397M | $2.404M |
YoY Change | -0.3% | 92.29% |
% of Gross Profit | 498.76% | 183.82% |
Depreciation & Amortization | $502.4K | $577.5K |
YoY Change | -13.01% | 312.51% |
% of Gross Profit | 104.52% | 44.15% |
Operating Expenses | $5.892M | $2.404M |
YoY Change | 145.06% | 92.29% |
Operating Profit | -$5.411M | -$1.096M |
YoY Change | 393.58% | -349.38% |
Interest Expense | $199.1K | $201.6K |
YoY Change | -1.23% | 68.64% |
% of Operating Profit | ||
Other Income/Expense, Net | $351.3K | -$162.1K |
YoY Change | -316.73% | -505.25% |
Pretax Income | -$5.259M | -$15.97M |
YoY Change | -67.06% | 13.32% |
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | -$5.101M | -$15.97M |
YoY Change | -68.05% | 13.36% |
Net Earnings / Revenue | -294.96% | -480.68% |
Basic Earnings Per Share | -$2.33 | -$12.97 |
Diluted Earnings Per Share | -$2.33 | -$810.6K |
COMMON SHARES | ||
Basic Shares Outstanding | 2.192M shares | |
Diluted Shares Outstanding | 2.192M shares |
Balance Sheet
Concept | 2023 Q1 | 2022 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $5.795M | $12.37M |
YoY Change | -53.15% | -75.16% |
Cash & Equivalents | $5.800M | $12.37M |
Short-Term Investments | ||
Other Short-Term Assets | $1.280M | $1.708M |
YoY Change | -25.09% | 98.64% |
Inventory | ||
Prepaid Expenses | ||
Receivables | $899.9K | $2.754M |
Other Receivables | $66.30K | $39.24K |
Total Short-Term Assets | $8.041M | $16.87M |
YoY Change | -52.33% | -69.99% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $466.1K | $1.404M |
YoY Change | -66.81% | 538.32% |
Goodwill | ||
YoY Change | ||
Intangibles | $13.01M | |
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | ||
YoY Change | ||
Total Long-Term Assets | $14.06M | $16.71M |
YoY Change | -15.89% | 71.59% |
TOTAL ASSETS | ||
Total Short-Term Assets | $8.041M | $16.87M |
Total Long-Term Assets | $14.06M | $16.71M |
Total Assets | $22.10M | $33.58M |
YoY Change | -34.2% | -49.08% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $1.040M | $592.7K |
YoY Change | 75.53% | 41.11% |
Accrued Expenses | $2.983M | $2.781M |
YoY Change | 7.27% | 13.98% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $167.9K | $117.2K |
YoY Change | 43.29% | -87.8% |
Long-Term Debt Due | $254.5K | $210.0K |
YoY Change | 21.18% | |
Total Short-Term Liabilities | $6.932M | $6.768M |
YoY Change | 2.43% | 77.64% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | $3.518M | $4.630M |
YoY Change | -24.01% | 408.81% |
Total Long-Term Liabilities | $3.518M | $4.630M |
YoY Change | -24.01% | 408.81% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $6.932M | $6.768M |
Total Long-Term Liabilities | $3.518M | $4.630M |
Total Liabilities | $10.80M | $11.77M |
YoY Change | -8.26% | 35.62% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$79.10M | |
YoY Change | ||
Common Stock | ||
YoY Change | ||
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $11.12M | $21.81M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $22.10M | $33.58M |
YoY Change | -34.2% | -49.08% |
Cashflow Statement
Concept | 2023 Q1 | 2022 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$5.101M | -$15.97M |
YoY Change | -68.05% | 13.36% |
Depreciation, Depletion And Amortization | $502.4K | $577.5K |
YoY Change | -13.01% | 312.51% |
Cash From Operating Activities | -$5.700M | -$5.589M |
YoY Change | 1.98% | -18.17% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $15.06K | -$101.0K |
YoY Change | -114.91% | -8.18% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $0.00 | |
YoY Change | -100.0% | |
Cash From Investing Activities | -$15.06K | -$101.0K |
YoY Change | -85.09% | -89.48% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | $644.7K | $0.00 |
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | $10.71M | 148.2K |
YoY Change | 7130.53% | -99.72% |
NET CHANGE | ||
Cash From Operating Activities | -$5.700M | -5.589M |
Cash From Investing Activities | -$15.06K | -101.0K |
Cash From Financing Activities | $10.71M | 148.2K |
Net Change In Cash | $4.815M | -5.542M |
YoY Change | -186.89% | -112.09% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$5.700M | -$5.589M |
Capital Expenditures | $15.06K | -$101.0K |
Free Cash Flow | -$5.715M | -$5.488M |
YoY Change | 4.14% | -18.33% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2023Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
1248736 | usd |
CY2023Q1 | dei |
Entity Registrant Name
EntityRegistrantName
|
Motorsport Games Inc. | |
CY2023Q1 | dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
DE | |
CY2023Q1 | dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
86-1791356 | |
CY2023Q1 | dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | |
CY2023Q1 | dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
5972 NE 4th Avenue | |
CY2023Q1 | dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Miami | |
CY2023Q1 | dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
FL | |
CY2023Q1 | dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
33137 | |
CY2023Q1 | dei |
City Area Code
CityAreaCode
|
(305) | |
CY2023Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001821175 | |
CY2023Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2023Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2023Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2023Q1 | us-gaap |
Other Receivable After Allowance For Credit Loss Current Related And Nonrelated Party Status Extensible Enumeration
OtherReceivableAfterAllowanceForCreditLossCurrentRelatedAndNonrelatedPartyStatusExtensibleEnumeration
|
http://fasb.org/us-gaap/2023#RelatedPartyMember | |
CY2022Q4 | us-gaap |
Other Receivable After Allowance For Credit Loss Current Related And Nonrelated Party Status Extensible Enumeration
OtherReceivableAfterAllowanceForCreditLossCurrentRelatedAndNonrelatedPartyStatusExtensibleEnumeration
|
http://fasb.org/us-gaap/2023#RelatedPartyMember | |
CY2023Q1 | us-gaap |
Other Liability Current Related And Nonrelated Party Status Extensible Enumeration
OtherLiabilityCurrentRelatedAndNonrelatedPartyStatusExtensibleEnumeration
|
http://fasb.org/us-gaap/2023#RelatedPartyMember | |
CY2022Q4 | us-gaap |
Other Liability Current Related And Nonrelated Party Status Extensible Enumeration
OtherLiabilityCurrentRelatedAndNonrelatedPartyStatusExtensibleEnumeration
|
http://fasb.org/us-gaap/2023#RelatedPartyMember | |
CY2023Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
CY2022Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
CY2023Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
usd | |
CY2022Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
usd | |
CY2023Q1 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
usd | |
CY2023Q1 | us-gaap |
Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
|
usd | |
CY2023Q1 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
usd | |
CY2022Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
usd | |
CY2022Q1 | MSGM |
Purchase Commitment And License Liability Interest Accretion
PurchaseCommitmentAndLicenseLiabilityInterestAccretion
|
usd | |
CY2023Q1 | MSGM |
Noncash Lease Expense
NoncashLeaseExpense
|
usd | |
CY2022Q1 | us-gaap |
Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
|
usd | |
CY2022Q1 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
usd | |
CY2023Q1 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
usd | |
CY2022Q1 | MSGM |
Repayments Of Purchase Commitment Liabilities
RepaymentsOfPurchaseCommitmentLiabilities
|
usd | |
CY2022Q1 | MSGM |
Payment Of License Liabilities
PaymentOfLicenseLiabilities
|
usd | |
CY2022Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
usd | |
CY2022Q1 | MSGM |
Issuance Of Common Stock
IssuanceOfCommonStock
|
usd | |
CY2022Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
usd | |
CY2022Q1 | MSGM |
Shares Issued For Extinguishment Of Related Party Loan
SharesIssuedForExtinguishmentOfRelatedPartyLoan
|
usd | |
CY2022Q1 | MSGM |
Extinguishment Of Related Party Loan
ExtinguishmentOfRelatedPartyLoan
|
usd | |
CY2022Q1 | MSGM |
Issuance Of Warrants In Connection With Registered Direct Offerings
IssuanceOfWarrantsInConnectionWithRegisteredDirectOfferings
|
usd | |
CY2023Q1 | MSGM |
Weighted Average Remaining Amortization
WeightedAverageRemainingAmortization
|
||
CY2023Q1 | dei |
Document Type
DocumentType
|
10-Q | |
CY2023Q1 | dei |
Document Quarterly Report
DocumentQuarterlyReport
|
true | |
CY2023Q1 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2023-03-31 | |
CY2023Q1 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2023 | |
CY2023Q1 | dei |
Document Transition Report
DocumentTransitionReport
|
false | |
CY2023Q1 | dei |
Entity File Number
EntityFileNumber
|
001-39868 | |
CY2023Q1 | dei |
Local Phone Number
LocalPhoneNumber
|
507-8799 | |
CY2023Q1 | dei |
Entity Information Former Legal Or Registered Name
EntityInformationFormerLegalOrRegisteredName
|
Not Applicable | |
CY2023Q1 | dei |
Security12b Title
Security12bTitle
|
Class A common stock, $0.0001 par | |
CY2023Q1 | dei |
Trading Symbol
TradingSymbol
|
MSGM | |
CY2023Q1 | dei |
Security Exchange Name
SecurityExchangeName
|
NASDAQ | |
CY2023Q1 | dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | |
CY2023Q1 | dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | |
CY2023Q1 | dei |
Entity Small Business
EntitySmallBusiness
|
true | |
CY2023Q1 | dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
true | |
CY2023Q1 | dei |
Entity Ex Transition Period
EntityExTransitionPeriod
|
false | |
CY2023Q1 | dei |
Entity Shell Company
EntityShellCompany
|
false | |
CY2023Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
5794556 | usd |
CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
979306 | usd |
CY2023Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
2532383 | usd |
CY2022Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
2252383 | usd |
CY2023Q1 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
899926 | usd |
CY2022Q4 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
1809110 | usd |
CY2023Q1 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
66295 | usd |
CY2022Q4 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
206532 | usd |
CY2023Q1 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
1279767 | usd |
CY2022Q4 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
1048392 | usd |
CY2023Q1 | us-gaap |
Assets Current
AssetsCurrent
|
8040544 | usd |
CY2022Q4 | us-gaap |
Assets Current
AssetsCurrent
|
4043340 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
466095 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
522433 | usd |
CY2023Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
583112 | usd |
CY2022Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
971789 | usd |
CY2023Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
13008061 | usd |
CY2022Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
13360230 | usd |
CY2023Q1 | us-gaap |
Assets
Assets
|
22097812 | usd |
CY2022Q4 | us-gaap |
Assets
Assets
|
18897792 | usd |
CY2023Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
1040291 | usd |
CY2022Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
2372219 | usd |
CY2023Q1 | us-gaap |
Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
|
2983428 | usd |
CY2022Q4 | us-gaap |
Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
|
3416424 | usd |
CY2023Q1 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
167860 | usd |
CY2022Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
4589211 | usd |
CY2023Q1 | MSGM |
Purchase Commitment Liability
PurchaseCommitmentLiability
|
2486011 | usd |
CY2022Q4 | MSGM |
Purchase Commitment Liability
PurchaseCommitmentLiability
|
2563216 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
254472 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
380538 | usd |
CY2023Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
6932062 | usd |
CY2022Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
13321608 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
348753 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
617288 | usd |
CY2023Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
3518364 | usd |
CY2022Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
3055498 | usd |
CY2023Q1 | us-gaap |
Liabilities
Liabilities
|
10799179 | usd |
CY2022Q4 | us-gaap |
Liabilities
Liabilities
|
16994394 | usd |
CY2023Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
100000000 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2023Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2023Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2023Q1 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
91215242 | usd |
CY2022Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
76446061 | usd |
CY2023Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-79080078 | usd |
CY2022Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-73979131 | usd |
CY2023Q1 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-1011994 | usd |
CY2022Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-933406 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
11123509 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1533711 | usd |
CY2023Q1 | us-gaap |
Minority Interest
MinorityInterest
|
175124 | usd |
CY2022Q4 | us-gaap |
Minority Interest
MinorityInterest
|
369687 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
11298633 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1903398 | usd |
CY2023Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
22097812 | usd |
CY2022Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
18897792 | usd |
CY2023Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
1729355 | usd |
CY2022Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
3321789 | usd |
CY2022Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
2013806 | usd |
CY2023Q1 | us-gaap |
Gross Profit
GrossProfit
|
480619 | usd |
CY2022Q1 | us-gaap |
Gross Profit
GrossProfit
|
1307983 | usd |
CY2023Q1 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
618410 | usd |
CY2023Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2397134 | usd |
CY2022Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2404338 | usd |
CY2023Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2779110 | usd |
CY2022Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
3423153 | usd |
CY2022Q1 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
4788268 | usd |
CY2022Q1 | us-gaap |
Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
|
4491054 | usd |
CY2023Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
97354 | usd |
CY2022Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
116071 | usd |
CY2023Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
5892008 | usd |
CY2022Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
16911333 | usd |
CY2023Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-5411389 | usd |
CY2022Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-15603350 | usd |
CY2023Q1 | us-gaap |
Interest Expense
InterestExpense
|
199120 | usd |
CY2022Q1 | us-gaap |
Interest Expense
InterestExpense
|
201596 | usd |
CY2023Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
351317 | usd |
CY2022Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-162099 | usd |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-5259192 | usd |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-15967045 | usd |
CY2023Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-158245 | usd |
CY2022Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-829428 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5100947 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-15137617 | usd |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-2.33 | |
CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-12.97 | |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
|
2192155 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
|
1166816 | shares |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-5259192 | usd |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-15967045 | usd |
CY2023Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-78588 | usd |
CY2022Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-125245 | usd |
CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-5337780 | usd |
CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-16092290 | usd |
CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
-194563 | usd |
CY2022Q1 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
-888721 | usd |
CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-5143217 | usd |
CY2022Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-15203569 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1903398 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
10571534 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
|
3948566 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
249233 | usd |
CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-114906 | usd |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-5259192 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
11298633 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
37982003 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
37982003 | usd |
CY2022Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
353030 | usd |
CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-184538 | usd |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-15967045 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
22183450 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
22183450 | usd |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-5259192 | usd |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-15967045 | usd |
CY2022Q1 | us-gaap |
Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
|
4491054 | usd |
CY2022Q1 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
4788268 | usd |
CY2023Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-1016 | usd |
CY2023Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
502357 | usd |
CY2022Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
577514 | usd |
CY2023Q1 | MSGM |
Purchase Commitment And License Liability Interest Accretion
PurchaseCommitmentAndLicenseLiabilityInterestAccretion
|
-157661 | usd |
CY2022Q1 | MSGM |
Noncash Lease Expense
NoncashLeaseExpense
|
70701 | usd |
CY2023Q1 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
249233 | usd |
CY2022Q1 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
353030 | usd |
CY2023Q1 | MSGM |
Sales Return And Price Protection Reserves
SalesReturnAndPriceProtectionReserves
|
280000 | usd |
CY2022Q1 | MSGM |
Sales Return And Price Protection Reserves
SalesReturnAndPriceProtectionReserves
|
234240 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-630272 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-2497895 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
|
-140358 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-5893 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-60211 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
225562 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
541640 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-1331386 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-1187721 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
-473021 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
-33720 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
37705 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-315824 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-882896 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-5683701 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-5589106 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
15057 | usd |
CY2022Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
101004 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-15057 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-101004 | usd |
CY2022Q1 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
148152 | usd |
CY2023Q1 | MSGM |
Repayments Of Purchase Commitment Liabilities
RepaymentsOfPurchaseCommitmentLiabilities
|
250000 | usd |
CY2023Q1 | MSGM |
Payment Of License Liabilities
PaymentOfLicenseLiabilities
|
87500 | usd |
CY2023Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
644694 | usd |
CY2023Q1 | MSGM |
Issuance Of Common Stock
IssuanceOfCommonStock
|
10404840 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
10712034 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
148152 | usd |
CY2023Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-198026 | usd |
CY2022Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
89553 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
4815250 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-5452405 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
979306 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
17819640 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
5794556 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
12367235 | usd |
CY2023Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
9508 | usd |
CY2023Q1 | MSGM |
Shares Issued For Extinguishment Of Related Party Loan
SharesIssuedForExtinguishmentOfRelatedPartyLoan
|
-3948566 | usd |
CY2023Q1 | MSGM |
Extinguishment Of Related Party Loan
ExtinguishmentOfRelatedPartyLoan
|
3948566 | usd |
CY2023Q1 | MSGM |
Issuance Of Warrants In Connection With Registered Direct Offerings
IssuanceOfWarrantsInConnectionWithRegisteredDirectOfferings
|
478000 | usd |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-5300000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-5700000 | usd |
CY2023Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-79100000 | usd |
CY2023Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
5800000 | usd |
CY2023Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_84E_eus-gaap--UseOfEstimates_zhhZCyInxjue" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_864_zno2HxGTLR39" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Use of Estimates</span></b></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; font-size: 10pt"> </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; font-size: 10pt">The preparation of 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 disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </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; font-size: 10pt"> </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; font-size: 10pt"><b>Motorsport Games Inc. and Subsidiaries</b></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; font-size: 10pt"><b>Notes to Unaudited Condensed Consolidated Financial Statements</b></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; font-size: 10pt"> </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; font-size: 10pt">The Company’s significant estimates used in these consolidated financial statements include, but are not limited to, revenue recognition criteria, including allowances for returns and price protection, as well as current expected credit losses, valuation allowance of deferred income taxes, valuation of acquired companies and equity method investments, the recognition and disclosure of contingent liabilities, goodwill and intangible assets impairment testing, and stock-based compensation valuation. Certain of the Company’s estimates could be affected by external conditions, including those unique to the Company and general economic conditions. It is reasonably possible that these external factors could have an effect on the Company’s estimates and may cause actual results to differ from those estimates.</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; font-size: 10pt"><b> </b></span></p> | |
CY2023Q1 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
0 | usd |
CY2022Q4 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
96667 | usd |
CY2023Q1 | us-gaap |
Line Of Credit
LineOfCredit
|
12000000 | usd |
CY2023Q1 | MSGM |
Payment To Related Parties
PaymentToRelatedParties
|
100000 | usd |
CY2023Q1 | us-gaap |
Revenue Recognition Sales Returns
RevenueRecognitionSalesReturns
|
<p id="xdx_84A_eus-gaap--RevenueRecognitionSalesReturns_z1oXBkzICsd5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_864_zmnCBwUM80p4">Allowances for Returns and Price Protection</span></i></b></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; font-size: 10pt"> </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; font-size: 10pt">The Company may permit product returns from, or grant price protection to, its customers under certain conditions. Price protection represents the Company’s practice of providing channel partners with a credit allowance to lower their wholesale price on a particular game unit that they have not resold to customers. The amount of the price protection for permanent markdowns is the difference between the original wholesale price and the new reduced wholesale price. Credits are also given for short-term promotions that temporarily reduce the wholesale price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </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; font-size: 10pt">Allowances for returns and price protection are considered variable consideration under ASC 606. The Company reduces revenue for estimated future returns and price protections that may occur with distributors and retailers (“channel partners”). See Note 2 – <i>Basis of Presentation and Summary of Significant Accounting Policies – Accounts Receivable</i> in the 2022 Form 10-K for additional details.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </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; font-size: 10pt">When evaluating the adequacy of allowances for returns and price protection, the Company analyzes the following: historical credit allowances, current sell-through of channel partners’ inventory of the Company’s products, current trends in retail and the video game industry, changes in customer demand, acceptance of products, and other related factors. In addition, the Company monitors the volume of sales to its channel partners and their inventories, as substantial overstocking in the distribution channel could result in higher-than-expected returns or higher price protection in subsequent periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognized an expense of approximately $<span id="xdx_903_ecustom--SalesReturnsAndPriceProtectionReserves_pn5n6_c20230101__20230331_zy2yPS8RVBM" title="Sales return and price protection reserves">0.3</span> million and $<span id="xdx_905_ecustom--SalesReturnsAndPriceProtectionReserves_pn5n6_c20220101__20220331_zDdlXfC2vHEa" title="Sales return and price protection reserves">0.2</span> million for sales returns and price protections as a reduction of revenues for the three months ended March 31, 2023 and 2022, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2023Q1 | MSGM |
Sales Returns And Price Protection Reserves
SalesReturnsAndPriceProtectionReserves
|
300000 | usd |
CY2022Q1 | MSGM |
Sales Returns And Price Protection Reserves
SalesReturnsAndPriceProtectionReserves
|
200000 | usd |
CY2023Q1 | us-gaap |
Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
|
<p id="xdx_849_eus-gaap--RevenueRecognitionDeferredRevenue_zX6x3Xm5G9bd" 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; font-size: 10pt"><b><i><span id="xdx_86D_zKCM5SXgFJFf">Deferred Revenue</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s deferred revenue, or contract liability, is classified as current and is included within accrued expenses and other current liabilities on the unaudited condensed consolidated balance sheets (Also refer Note 4 – <i>Accrued Expenses and Other Current Liabilities</i>). Revenue collected in advance of the event is recorded as deferred revenue until the event occurs. Development and coding revenues are also recorded as deferred revenue until the Company’s performance obligation is performed.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Revenue recognized in the period from amounts included in contract liability at the beginning of the period was approximately $<span id="xdx_903_eus-gaap--DeferredRevenueRevenueRecognized1_pn5n6_c20230101__20230331__us-gaap--BalanceSheetLocationAxis__custom--ContractLiabilityMember_z2N9ocMMkA1c" title="Revenue recognized">0.3 million</span> and $<span id="xdx_901_eus-gaap--DeferredRevenueRevenueRecognized1_pn5n6_c20220101__20220331__us-gaap--BalanceSheetLocationAxis__custom--ContractLiabilityMember_zI6pZXwv6Uo6" title="Revenue recognized">0.5 million</span> for the three months ended March 31, 2023 and 2022, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2022Q1 | MSGM |
Payment To Related Parties
PaymentToRelatedParties
|
100000 | usd |
CY2022 | MSGM |
Payment To Related Parties
PaymentToRelatedParties
|
800000 | usd |
CY2023Q1 | us-gaap |
Common Stock Voting Rights
CommonStockVotingRights
|
Holders of Class A and Class B common stock are entitled to one-vote and ten-votes, respectively, for each share held on all matters submitted to a vote of stockholders | |
CY2022Q4 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
the Company amended its certificate of incorporation to effectuate a reverse split of the issued and outstanding shares of Class A common stock and Class B common stock at a ratio of 1-for-10 | |
CY2023Q1 | MSGM |
Transaction Fee Percentage
TransactionFeePercentage
|
0.070 | pure |
CY2023Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
81541 | shares |
CY2022Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
96984 | shares |
CY2022Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
13360230 | usd |
CY2023Q1 | MSGM |
Amortization Of Intangible Asset
AmortizationOfIntangibleAsset
|
439640 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
|
87471 | usd |
CY2023Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
13008061 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
5057048 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
5507845 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
1318924 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
1652026 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
1568894 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
1322107 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
482338 | usd |
CY2023Q1 | MSGM |
Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
|
1702871 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
8047160 | usd |
CY2023Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
400000 | usd |
CY2022Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
500000 | usd |
CY2022Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
2013806 | usd |
CY2023Q1 | us-gaap |
Gross Profit
GrossProfit
|
480619 | usd |
CY2022Q1 | us-gaap |
Gross Profit
GrossProfit
|
1307983 | usd |
CY2023Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-5411389 | usd |
CY2022Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-15603350 | usd |
CY2023Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
97354 | usd |
CY2023Q1 | us-gaap |
Accrued Royalties Current
AccruedRoyaltiesCurrent
|
465244 | usd |
CY2022Q4 | us-gaap |
Accrued Royalties Current
AccruedRoyaltiesCurrent
|
274085 | usd |
CY2023Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
726224 | usd |
CY2022Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
720470 | usd |
CY2023Q1 | MSGM |
Accrued Development Costs Current
AccruedDevelopmentCostsCurrent
|
207861 | usd |
CY2022Q4 | MSGM |
Accrued Development Costs Current
AccruedDevelopmentCostsCurrent
|
172164 | usd |
CY2023Q1 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
49659 | usd |
CY2022Q4 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
149842 | usd |
CY2023Q1 | MSGM |
Accrued Payroll
AccruedPayroll
|
319604 | usd |
CY2022Q4 | MSGM |
Accrued Payroll
AccruedPayroll
|
372358 | usd |
CY2023Q1 | MSGM |
Deferred Revenue Accrued
DeferredRevenueAccrued
|
50026 | usd |
CY2022Q4 | MSGM |
Deferred Revenue Accrued
DeferredRevenueAccrued
|
311945 | usd |
CY2023Q1 | MSGM |
Loss Contingency Reserves Accured
LossContingencyReservesAccured
|
924307 | usd |
CY2022Q4 | MSGM |
Loss Contingency Reserves Accured
LossContingencyReservesAccured
|
1100000 | usd |
CY2023Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
240503 | usd |
CY2022Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
315560 | usd |
CY2023Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
2983428 | usd |
CY2022Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
3416424 | usd |
CY2022Q3 | us-gaap |
Line Of Credit
LineOfCredit
|
12000000 | usd |
CY2022Q3 | us-gaap |
Line Of Credit
LineOfCredit
|
12000000 | usd |
CY2023Q1 | us-gaap |
Deconsolidation Related Party Description
DeconsolidationRelatedPartyDescription
|
(i) the Company enters into a new financing arrangement (whether debt, equity or otherwise) under which the Company is then able to draw or provides the Company with available cash in excess of amounts required in the Company’s reasonable judgment to run its operations in the ordinary course of business; (ii) the Company generates from operations available cash in excess of amounts required in the Company’s reasonable judgment to run its operations in the ordinary course of business; or (iii) the Company’s independent auditors issue an unqualified opinion on its financial statements and the Company’s repayment of the advances, in whole or in part, would not otherwise cause the independent auditor to issue a going concern qualified opinion. Upon the occurrence of any of the foregoing events, the Company shall prepay on such date principal amount of the September 2022 Cash Advance and other advances under the $12 million Line of Credit then outstanding in an amount equal to such available excess cash or, in the case of (iii) above, the amount that would not cause the Company’s independent auditor to issue a going concern qualified opinion, together with interest accrued but unpaid on the unpaid September 2022 Cash Advance and other advances, which repayment obligation shall continue until all such advances under the $12 million Line of Credit are paid in full. The entire aggregate principal amount of the September 2022 Cash Advance and the other advances under the $12 million Line of Credit, together with interest accrued but unpaid thereon, shall also become immediately and automatically due and payable, and the $12 million Line of Credit shall immediately and automatically terminate, in each case without any action required by Motorsport Network, if (i) the Company experience an event of default under any other debt instrument, agreement or arrangement; or (ii) any final judgment or final judgments for the payment of money in excess (net of amounts covered by third-party insurance with insurance carriers who have not disclaimed liability with respect to such judgment or judgments) of $500,000 or its foreign currency equivalent is entered against the Company or any subsidiary and is not discharged and either (a) an enforcement proceeding has been commenced by any creditor upon such judgment or decree or (b) there is a period of 60 days following the entry of such judgment or decree during which such judgment or decree is not discharged, waived or the execution thereof stayed and, in the case of (b), such default continues for 60 consecutive days | |
CY2023Q1 | us-gaap |
Line Of Credit
LineOfCredit
|
12000000 | usd |
CY2022Q4 | us-gaap |
Line Of Credit
LineOfCredit
|
12000000 | usd |
CY2023Q1 | us-gaap |
Lines Of Credit Current
LinesOfCreditCurrent
|
0 | usd |
CY2022Q4 | us-gaap |
Lines Of Credit Current
LinesOfCreditCurrent
|
3670000 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
249233 | usd |
CY2022Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
353030 | usd |
CY2023Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
700000 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
|
P2Y | |
CY2023Q1 | us-gaap |
Other Receivables
OtherReceivables
|
8000000 | eur |
CY2023Q1 | us-gaap |
Other Receivables
OtherReceivables
|
8700000 | usd |
CY2023Q4 | us-gaap |
Other Commitment
OtherCommitment
|
28300000 | usd |
CY2023Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | segment |
CY2022Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | segment |
CY2023Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
1729355 | usd |
CY2022Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
3321789 | usd |
CY2023Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
1248736 | usd |
CY2022Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
116071 | usd |
CY2023Q1 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-199120 | usd |
CY2022Q1 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-201596 | usd |
CY2023Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
351317 | usd |
CY2022Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-162099 | usd |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-5259192 | usd |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-15967045 | usd |
CY2023Q1 | us-gaap |
Assets
Assets
|
22097812 | usd |
CY2022Q4 | us-gaap |
Assets
Assets
|
18897792 | usd |