Quarterly report pursuant to Section 13 or 15(d)

Carrying Values of Assets and Liabilities of Variable Interest Entities (Details)

v3.22.1
Carrying Values of Assets and Liabilities of Variable Interest Entities (Details) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Current assets:      
Cash and cash equivalents $ 130,779,948   $ 87,612,176
Prepaid expenses and other current assets 10,659,851   10,403,401
Due from Related Party 19,600,584   15,997,803
Total current assets 182,425,115   219,741,467
Loan Held-for-Investment 5,350,000   4,200,000
Property and Equipment, net 1,785,226   1,376,751
Intangible assets, net 39,009,383   40,525,453
Goodwill 180,419,932   121,580,144
Cost Method Investments 1,000,000   1,000,000
Total assets 500,678,709   405,142,729
Current liabilities:      
Accounts payable 11,554,079   6,105,963
Accrued expenses and other current liabilities 10,600,949   19,516,308
Total current liabilities 42,114,889   70,089,546
Notes Payable 108,923   121,037
Total liabilities 541,707,486   271,455,687
Revenues, net 11,534,819 $ 2,565,162  
Cost of revenues 10,933,656 1,653,381  
Gross profit 601,163 911,781  
Operating expenses:      
Selling, general and administrative 26,798,107 11,660,880  
Operating (loss) income (26,196,944) (10,749,099)  
Other (expense) income:      
Other income 149,594 (44,296)  
Total other (expense) income (352,908,203) (51,514,221)  
Loss before income taxes (379,105,147) (62,263,320)  
Income tax expense  
Net loss (379,105,147) (62,441,320)  
Variable Income Interest Rate [Member]      
Current assets:      
Cash and cash equivalents 6,183,563   1,856,017
Prepaid expenses and other current assets 1,824,684   2,388,893
Other Investments 109,765,000  
Due from Related Party 11,400,584   15,997,803
Loan Interest Receivable 366,355  
Total current assets 129,540,186   20,242,713
Loan Held-for-Investment 3,100,000   3,100,000
Loan Held-for-Investment, related parties 18,000,000   11,500,000
Property and Equipment, net 189,028   147,519
Intangible assets, net 27,047,962   28,150,048
Goodwill 116,188,021   116,188,021
Cost Method Investments 1,500,000   1,000,000
Total assets 295,565,197   180,328,301
Current liabilities:      
Accounts payable 575,420   686,674
Accrued expenses and other current liabilities 1,597,397   1,672,492
Total current liabilities 2,172,817   2,359,166
Intercompany 44,681,303  
Notes Payable 4,563,879   2,650,000
Total liabilities 58,091,392   $ 5,324,832
Revenues, net 214,394  
Cost of revenues 84,155  
Gross profit 130,239  
Operating expenses:      
Selling, general and administrative 10,971,969 100,421  
Operating (loss) income (10,971,969) 29,818  
Other (expense) income:      
Interest expense (2,212) 26,250  
Other income 88,569    
Total other (expense) income (86,357) 56,068  
Loss before income taxes (10,885,612) 56,068  
Income tax expense  
Net loss $ (10,885,612) $ 56,068