Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.20.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Income Statement [Abstract]        
Net revenues $ 1,950,698 $ 3,920,607 $ 5,860,807 $ 13,155,882
Operating expenses:        
Direct costs of revenue 2,805,829 3,227,709 8,151,478 12,068,460
General and administrative 3,274,508 3,074,522 8,593,756 12,277,416
Depreciation and amortization 53,579 199,996 399,377 609,818
Total operating expenses 6,133,916 6,502,227 17,144,611 24,955,694
Loss from continuing operations before other income (expense) and income taxes (4,183,218) (2,581,620) (11,283,804) (11,799,812)
Other income (expense), net:        
Other income (expense), net 169,101 (5,784,873) 6,907,670 (6,981,116)
Gain (loss) from legal settlements (23,652) 1,096,613
Gain on extinguishment of debt 389,864 389,864
Gain on bargain purchase 250,000
Change in fair value of derivative instrument (105,076)
Interest expense (2,377,980) (3,637,467) (7,926,750) (19,229,233)
Total other income (expense), net (1,842,667) (9,422,340) 467,397 (26,065,424)
Net loss from continuing operations before income taxes (6,025,885) (12,003,960) (10,816,407) (37,865,236)
Benefit from income taxes (1,118,485)
Net loss from continuing operations (6,025,885) (12,003,960) (9,697,922) (37,865,236)
Net loss from discontinued operations (166,180) (261,808) (164,293) (1,266,764)
Net loss (6,192,065) (12,265,768) (9,862,215) (39,132,000)
Deemed dividends (63,544,950) (66,695,318) (123,861,587)
Net loss available to common stockholders $ (69,737,015) $ (12,265,768) $ (76,557,533) $ (162,993,587)
Net loss per common share:        
Basic net loss available to common stockholders $ (54.33) $ (18.49) $ (70.52) $ (365.30)
Diluted net loss available to common stockholders $ (54.33) $ (18.49) $ (70.52) $ (365.30)
Weighted average number of common shares outstanding during the period:        
Basic 1,283,559 663,405 1,085,650 446,192
Diluted 1,283,559 663,405 1,085,650 446,192