2024 Q1 Form 10-Q Financial Statement
#000149315224018097 Filed on May 07, 2024
Income Statement
| Concept | 2024 Q1 | 2023 Q1 |
|---|---|---|
| Revenue | $3.029M | $1.729M |
| YoY Change | 75.15% | -47.94% |
| Cost Of Revenue | $666.6K | $1.249M |
| YoY Change | -46.62% | -37.99% |
| Gross Profit | $2.362M | $480.6K |
| YoY Change | 391.53% | -63.25% |
| Gross Profit Margin | 77.99% | 27.79% |
| Selling, General & Admin | $2.441M | $3.398M |
| YoY Change | -28.16% | -33.53% |
| % of Gross Profit | 103.31% | 706.91% |
| Research & Development | $1.063M | $2.397M |
| YoY Change | -55.64% | -0.3% |
| % of Gross Profit | 45.01% | 498.76% |
| Depreciation & Amortization | $601.9K | $502.4K |
| YoY Change | 19.82% | -13.01% |
| % of Gross Profit | 25.48% | 104.52% |
| Operating Expenses | $3.578M | $5.892M |
| YoY Change | -39.28% | 145.06% |
| Operating Profit | -$1.215M | -$5.411M |
| YoY Change | -77.54% | 393.58% |
| Interest Expense | $30.88K | $199.1K |
| YoY Change | -84.49% | -1.23% |
| % of Operating Profit | ||
| Other Income/Expense, Net | -$437.2K | $351.3K |
| YoY Change | -224.44% | -316.73% |
| Pretax Income | -$1.683M | -$5.259M |
| YoY Change | -67.99% | -67.06% |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | -$1.635M | -$5.101M |
| YoY Change | -67.95% | -68.05% |
| Net Earnings / Revenue | -53.97% | -294.96% |
| Basic Earnings Per Share | -$0.60 | -$2.33 |
| Diluted Earnings Per Share | -$0.60 | -$2.33 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 2.723M shares | 2.192M shares |
| Diluted Shares Outstanding | 2.723M shares | 2.192M shares |
Balance Sheet
| Concept | 2024 Q1 | 2023 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $1.253M | $5.795M |
| YoY Change | -78.38% | -53.15% |
| Cash & Equivalents | $1.300M | $5.800M |
| Short-Term Investments | ||
| Other Short-Term Assets | $1.474M | $1.280M |
| YoY Change | 15.18% | -25.09% |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $1.423M | $899.9K |
| Other Receivables | $0.00 | $66.30K |
| Total Short-Term Assets | $4.150M | $8.041M |
| YoY Change | -48.38% | -52.33% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $175.2K | $466.1K |
| YoY Change | -62.41% | -66.81% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | $5.349M | $13.01M |
| YoY Change | -58.88% | |
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | ||
| YoY Change | ||
| Total Long-Term Assets | $5.673M | $14.06M |
| YoY Change | -59.64% | -15.89% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $4.150M | $8.041M |
| Total Long-Term Assets | $5.673M | $14.06M |
| Total Assets | $9.824M | $22.10M |
| YoY Change | -55.55% | -34.2% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $1.509M | $1.040M |
| YoY Change | 45.1% | 75.53% |
| Accrued Expenses | $2.480M | $2.983M |
| YoY Change | -16.87% | 7.27% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $48.27K | $167.9K |
| YoY Change | -71.24% | 43.29% |
| Long-Term Debt Due | $109.2K | $254.5K |
| YoY Change | -57.1% | 21.18% |
| Total Short-Term Liabilities | $8.776M | $6.932M |
| YoY Change | 26.6% | 2.43% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $39.86K | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $16.18K | $3.518M |
| YoY Change | -99.54% | -24.01% |
| Total Long-Term Liabilities | $16.18K | $3.518M |
| YoY Change | -99.54% | -24.01% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $8.776M | $6.932M |
| Total Long-Term Liabilities | $16.18K | $3.518M |
| Total Liabilities | $8.832M | $10.80M |
| YoY Change | -18.22% | -8.26% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$88.70M | -$79.10M |
| YoY Change | 12.14% | |
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $2.057M | $11.12M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $9.824M | $22.10M |
| YoY Change | -55.55% | -34.2% |
Cashflow Statement
| Concept | 2024 Q1 | 2023 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$1.635M | -$5.101M |
| YoY Change | -67.95% | -68.05% |
| Depreciation, Depletion And Amortization | $601.9K | $502.4K |
| YoY Change | 19.82% | -13.01% |
| Cash From Operating Activities | -$800.0K | -$5.700M |
| YoY Change | -85.96% | 1.98% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $15.06K | |
| YoY Change | -114.91% | |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | ||
| YoY Change | ||
| Cash From Investing Activities | -$15.06K | |
| YoY Change | -85.09% | |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | $0.00 | $644.7K |
| YoY Change | -100.0% | |
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -$50.00K | $10.71M |
| YoY Change | -100.47% | 7130.53% |
| NET CHANGE | ||
| Cash From Operating Activities | -$800.0K | -$5.700M |
| Cash From Investing Activities | -$15.06K | |
| Cash From Financing Activities | -$50.00K | $10.71M |
| Net Change In Cash | -$422.5K | $4.815M |
| YoY Change | -108.77% | -186.89% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$800.0K | -$5.700M |
| Capital Expenditures | $15.06K | |
| Free Cash Flow | -$800.0K | -$5.715M |
| YoY Change | -86.0% | 4.14% |
Facts In Submission
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2024-03-31 | |
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Motorsport Games Inc. | |
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5972 NE 4th Avenue | |
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-22241 | usd |
| CY2023Q1 | MSGM |
Purchase Commitment And License Liability Interest Accretion
PurchaseCommitmentAndLicenseLiabilityInterestAccretion
|
-157661 | usd |
| CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
68191 | usd |
| CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
249233 | usd |
| CY2023Q1 | MSGM |
Sales Return And Price Protection Reserves
SalesReturnAndPriceProtectionReserves
|
280000 | usd |
| CY2024Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-14922 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
689294 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-630272 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
|
-140358 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-978 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-5893 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
363780 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
225562 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
643942 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-1331386 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
-30238 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
-473021 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
-22241 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
-33720 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
620873 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-315824 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-847658 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-5683701 | usd |
| CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
15057 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-15057 | usd |
| CY2024Q1 | MSGM |
Repayments Of Purchase Commitment Liabilities
RepaymentsOfPurchaseCommitmentLiabilities
|
50000 | 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 |
Proceeds From Issuance Of Common Stock From Registered Direct Offerings
ProceedsFromIssuanceOfCommonStockFromRegisteredDirectOfferings
|
10404840 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-50000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
10712034 | usd |
| CY2024Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
475139 | 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 |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-422519 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
4815250 | usd |
| CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1675210 | usd |
| CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
979306 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1252691 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
5794556 | usd |
| CY2024Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
8641 | 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 | us-gaap |
Stock Issued1
StockIssued1
|
478000 | usd |
| CY2024Q1 | MSGM |
Receivable From Sale Of Nascar License
ReceivableFromSaleOfNascarLicense
|
-500000 | usd |
| CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-1700000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-800000 | usd |
| CY2024Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-88700000 | usd |
| CY2024Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
1300000 | usd |
| CY2024Q1 | MSGM |
Decrease In Average Net Cash
DecreaseInAverageNetCash
|
300000 | usd |
| CY2024Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_844_eus-gaap--UseOfEstimates_zmfujYGiy5j2" 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><span style="text-decoration: underline"><span id="xdx_86C_zd9FgQc5TwM2">Use of Estimates</span></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 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 disclosures of contingent assets and liabilities at the date of the condensed 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: 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"><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<br/> Notes to Unaudited Condensed Consolidated Financial Statements</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’s significant estimates used in these condensed consolidated financial statements include, but are not limited to, revenue recognition criteria, including allowances for returns and price protection, offering periods for deferred net revenue, valuation allowance of deferred income taxes, the recognition and disclosure of contingent liabilities, 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"> </span></p> | |
| CY2024Q1 | us-gaap |
Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
|
<p id="xdx_849_eus-gaap--RevenueRecognitionDeferredRevenue_zaSIDpHqE2ch" 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_865_zOjLzPD36Z91">Deferred Revenue</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><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 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. Furthermore, deferred revenue includes payment advances from the Company’s channel partners and sales transactions including future update rights and online hosting performance obligations, </span><span style="font-family: Times New Roman, Times, Serif; font-size: 9.5pt">which are subject to deferral and recognized over the Estimated Offering Period</span><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"> </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">Revenue recognized in the period from amounts included in contract liability at the beginning of the period was approximately $<span id="xdx_901_eus-gaap--DeferredRevenueRevenueRecognized1_pn5n6_c20240101__20240331__us-gaap--BalanceSheetLocationAxis__custom--ContractLiabilityMember_ztu86s81shfd" title="Revenue recognized"><span id="xdx_90D_eus-gaap--DeferredRevenueRevenueRecognized1_pn5n6_c20230101__20230331__us-gaap--BalanceSheetLocationAxis__custom--ContractLiabilityMember_z61W8HlKI2Ia" title="Revenue recognized">0.3</span></span> million for each of the three months ended March 31, 2024 and 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; font-size: 10pt"><b><i> </i></b></span></p> | |
| CY2024Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
131527 | shares |
| CY2023Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
81541 | shares |
| CY2023Q4 | MSGM |
Proceeds From Sale Of License
ProceedsFromSaleOfLicense
|
5000000.0 | usd |
| CY2023Q4 | us-gaap |
Notes Payable
NotesPayable
|
500000 | usd |
| CY2023Q4 | us-gaap |
Notes Payable
NotesPayable
|
500000 | usd |
| CY2023Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
5795807 | usd |
| CY2024Q1 | MSGM |
Amortization Of Intangible Asset
AmortizationOfIntangibleAsset
|
528222 | usd |
| CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
|
81818 | usd |
| CY2024Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
5349403 | usd |
| CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
5685271 | usd |
| CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
6217786 | usd |
| CY2024Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
500000 | usd |
| CY2023Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
400000 | usd |
| CY2024Q1 | us-gaap |
Accrued Royalties Current
AccruedRoyaltiesCurrent
|
275008 | usd |
| CY2023Q4 | us-gaap |
Accrued Royalties Current
AccruedRoyaltiesCurrent
|
217868 | usd |
| CY2024Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
792327 | usd |
| CY2023Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
110008 | usd |
| CY2024Q1 | MSGM |
Accrued Development Costs Current
AccruedDevelopmentCostsCurrent
|
36919 | usd |
| CY2023Q4 | MSGM |
Accrued Development Costs Current
AccruedDevelopmentCostsCurrent
|
32214 | usd |
| CY2024Q1 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
50000 | usd |
| CY2023Q4 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
40000 | usd |
| CY2024Q1 | MSGM |
Accrued Payroll
AccruedPayroll
|
334834 | usd |
| CY2023Q4 | MSGM |
Accrued Payroll
AccruedPayroll
|
500522 | usd |
| CY2024Q1 | MSGM |
Deferred Revenue Accrued
DeferredRevenueAccrued
|
458342 | usd |
| CY2023Q4 | MSGM |
Deferred Revenue Accrued
DeferredRevenueAccrued
|
270845 | usd |
| CY2024Q1 | MSGM |
Loss Contingency Reserves Accured
LossContingencyReservesAccured
|
419881 | usd |
| CY2023Q4 | MSGM |
Loss Contingency Reserves Accured
LossContingencyReservesAccured
|
545920 | usd |
| CY2024Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
112682 | usd |
| CY2023Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
173938 | usd |
| CY2024Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
2479993 | usd |
| CY2023Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1891315 | usd |
| CY2022Q3 | us-gaap |
Line Of Credit
LineOfCredit
|
12000000 | usd |
| CY2022Q3 | us-gaap |
Line Of Credit
LineOfCredit
|
12000000 | usd |
| CY2022Q3 | us-gaap |
Line Of Credit
LineOfCredit
|
12000000 | usd |
| CY2022Q3 | us-gaap |
Line Of Credit
LineOfCredit
|
12000000 | usd |
| CY2023Q1 | us-gaap |
Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
|
3900000 | usd |
| CY2023Q1 | us-gaap |
Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
|
3900000 | usd |
| CY2024Q1 | us-gaap |
Line Of Credit
LineOfCredit
|
12000000 | usd |
| CY2024Q1 | us-gaap |
Line Of Credit
LineOfCredit
|
12000000 | usd |
| CY2024Q1 | us-gaap |
Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
|
0 | usd |
| CY2023Q4 | us-gaap |
Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
|
0 | usd |
| CY2024Q1 | us-gaap |
Line Of Credit
LineOfCredit
|
12000000 | usd |
| CY2024Q1 | us-gaap |
Line Of Credit
LineOfCredit
|
12000000 | usd |
| CY2023Q4 | us-gaap |
Line Of Credit
LineOfCredit
|
12000000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
|
100000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
|
100000 | usd |
| CY2024Q1 | us-gaap |
Area Of Land
AreaOfLand
|
2000 | sqft |
| CY2024Q1 | 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 | |
| CY2024Q1 | MSGM |
Transaction Fee Percentage
TransactionFeePercentage
|
0.070 | pure |
| CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
68191 | usd |
| CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
249233 | usd |
| CY2024Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
100000 | usd |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
|
P2Y | |
| CY2024Q1 | us-gaap |
Other Commitment
OtherCommitment
|
8000000 | eur |
| CY2024Q1 | us-gaap |
Other Commitment
OtherCommitment
|
8640000 | usd |
| CY2024Q1 | us-gaap |
Royalty Guarantees Commitments Amount
RoyaltyGuaranteesCommitmentsAmount
|
13000 | usd |
| CY2023Q1 | us-gaap |
Royalty Guarantees Commitments Amount
RoyaltyGuaranteesCommitmentsAmount
|
32000 | usd |
| CY2024Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | segment |
| CY2023Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | segment |
| CY2024Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
3029036 | usd |
| CY2023Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
1729355 | usd |
| CY2024Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
666627 | usd |
| CY2023Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
1248736 | usd |
| CY2024Q1 | us-gaap |
Gross Profit
GrossProfit
|
2362409 | usd |
| CY2023Q1 | us-gaap |
Gross Profit
GrossProfit
|
480619 | usd |
| CY2024Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1215324 | usd |
| CY2023Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-5411389 | usd |
| CY2024Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
73724 | usd |
| CY2023Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
97354 | usd |
| CY2024Q1 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-30882 | usd |
| CY2023Q1 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-199120 | usd |
| CY2024Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-437192 | usd |
| CY2023Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
351317 | usd |
| CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-1683398 | usd |
| CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-5259192 | usd |
| CY2024Q1 | us-gaap |
Assets
Assets
|
9823533 | usd |
| CY2023Q4 | us-gaap |
Assets
Assets
|
9758704 | usd |
| CY2024Q1 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
| CY2024Q1 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false |
