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Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Successor    
Revenues and other income:    
Gamefi revenue $ 323,600  
Operating lease revenue 120,000  
Net loss on disposal of assets  
Other losses  
Other income 443,600  
Cost of revenues (27,800)  
Gross profit 415,800  
Expenses:    
Impairment in value of aircraft  
Interest 120,000  
Professional fees, general and administrative and other 551,900  
Depreciation  
(Reversal) provision of bad debt expense (300,000)  
Salaries and employee benefits 632,500  
Insurance 86,200  
Maintenance  
Other taxes  
Total expenses 1,090,600  
Loss before income tax provision (674,800)  
Income tax provision (1,500)  
Net loss (676,300)  
Less: Net loss attributable to non-controlling interests 140,000  
Net loss attributable to Mega Matrix Corp. (formerly “AeroCentury Corp.”)’s shareholders $ (536,300)  
Loss per share:    
Basic (in Dollars per share) [1] $ (0.02)  
Diluted (in Dollars per share) [1] $ (0.02)  
Weighted average shares used in loss per share computations:    
Basic (in Shares) [1] 22,084,055  
Diluted (in Shares) [1] 22,084,055  
Net loss $ (676,300)  
Other comprehensive income (loss):    
Reclassification of net unrealized losses on derivative instruments to interest expense  
Tax expense related to items of other comprehensive loss  
Other comprehensive income  
Total comprehensive loss (676,300)  
Less: comprehensive loss attributable to non-controlling interests 140,000  
Total comprehensive loss attributable to Mega Matrix Corp. (formerly “AeroCentury Corp.”)’s shareholders $ (536,300)  
Predecessor    
Revenues and other income:    
Gamefi revenue  
Operating lease revenue   2,737,200
Net loss on disposal of assets   (201,700)
Other losses   (1,300)
Other income   2,534,200
Cost of revenues  
Gross profit   2,534,200
Expenses:    
Impairment in value of aircraft   1,940,400
Interest   1,914,700
Professional fees, general and administrative and other   1,595,100
Depreciation   699,300
(Reversal) provision of bad debt expense   821,000
Salaries and employee benefits   506,300
Insurance   247,900
Maintenance   145,000
Other taxes   25,600
Total expenses   7,895,300
Loss before income tax provision   (5,361,100)
Income tax provision   (49,200)
Net loss   (5,410,300)
Less: Net loss attributable to non-controlling interests  
Net loss attributable to Mega Matrix Corp. (formerly “AeroCentury Corp.”)’s shareholders   $ (5,410,300)
Loss per share:    
Basic (in Dollars per share) [1]   $ (0.7)
Diluted (in Dollars per share) [1]   $ (0.7)
Weighted average shares used in loss per share computations:    
Basic (in Shares) [1]   7,729,420
Diluted (in Shares) [1]   7,729,420
Net loss   $ (5,410,300)
Other comprehensive income (loss):    
Reclassification of net unrealized losses on derivative instruments to interest expense   2,600
Tax expense related to items of other comprehensive loss   (600)
Other comprehensive income   2,000
Total comprehensive loss   (5,408,300)
Less: comprehensive loss attributable to non-controlling interests  
Total comprehensive loss attributable to Mega Matrix Corp. (formerly “AeroCentury Corp.”)’s shareholders   $ (5,408,300)
[1] Retrospectively restated to give effect to five for one forward stock split effective December 30, 2021.