v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (3,088,768) $ (12,603,225)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,354,585 2,382,361
Amortization of capitalized production cost 99,975 1,781,810
Impairment of capitalized production costs 88,127
Gain on sale of Always Alpha Sports Management LLC (756,574)
Loss on extinguishment of debt 835,324
Amortization of debt premium (173,840)
Share-based compensation 12,399 364,650
Write off of notes receivable 1,270,000
Impairment of goodwill 6,671,557
Bad debt expense 441,875 505,173
Deferred tax expense 69,362 87,854
Change in fair value of contingent consideration 50,000
Change in fair value of warrant (5,000)
Change in fair value of convertible note (50,000) (35,000)
Amortization of loan fees 28,047 16,823
Changes in operating assets and liabilities:    
Accounts receivable, trade and other (3,539,801) 1,749,118
Other current assets (103,196) 327,936
Capitalized production costs (113,677) (81,298)
Other long-term assets and employee receivable (159,942) (213,050)
Deferred revenue 448,503 (1,110,555)
Accounts payable 758,669 (4,552,560)
Accrued interest – related party 185,101 139,977
Lease liabilities (6,693) (86,442)
Other current liabilities 661,842 3,182,020
Other noncurrent liabilities (18,915)
Net cash used in operating activities (2,027,597) (157,851)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, equipment and leasehold improvements (1,117) (1,512)
Proceeds from the sale of Always Alpha Sports Management LLC 234,192
Acquisition of Elle Communications LLC, net of cash acquired (1,186,777)
Issuance of notes receivable (1,380,000)
Proceeds from notes receivable repayment 110,000
Net cash provided by (used in) investing activities 233,075 (2,458,289)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from related party note payable 2,118,112
Proceeds from convertible notes payable 3,450,000
Proceeds from non-convertible notes payable 1,200,000
Proceeds from term loan 2,000,000
Repayment of term loan (1,705,646) (997,474)
Proceeds from line of credit 400,000 400,000
Repayment of revolving line of credit (400,000) (400,000)
Payment of contingent consideration (486,000)
Debt origination costs (33,674)
Principal payments on finance leases (111,089) (87,969)
Proceeds from the sale of common stock through an offering
Proceeds from Lincoln Park equity line 1,185,300
Net cash provided by financing activities 2,347,265 4,184,295
Net increase in cash and cash equivalents and restricted cash 552,743 1,568,155
Cash and cash equivalents and restricted cash, beginning of period 9,128,846 7,560,691
Cash and cash equivalents and restricted cash, end of period 9,681,589 9,128,846
SUPPLEMENTAL DISCLOSURES OF CASH FLOWS INFORMATION:    
Interest paid 2,019,120 1,790,433
Lease liability obtained in exchange for right-of-use assets 92,488 76,321
Income tax paid
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:    
Issuance of shares related to conversion of notes payable 840,000
Issuance of shares of common stock related to the acquisitions (See Note 4) 1,768,792
Settlement of Special Projects Media LLC working capital adjustment in shares of common stock 886,077
Issuance of shares of common stock related to the Lincoln Park Capital Fund LLC agreement 281,403
Cash and cash equivalents 8,756,585 8,203,842
Restricted cash 925,004 925,004
Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows $ 9,681,589 $ 9,128,846