Related Party Transactions |
6 Months Ended | ||
---|---|---|---|
Jun. 30, 2024 | |||
Related Party Transactions [Abstract] | |||
Related Party Transactions |
The Company’s related parties include directors, shareholders and key management.
Compensation to related parties totaled $3,785,461 and $3,349,257 for the three months ended June 30, 2024 and 2023, respectively. Of the total compensation, the Company paid share-based compensation to key management amounting to $2,650,673 and $2,119,457 for the three months ended June 30, 2024 and 2023, respectively. Compensation to related parties totaled $7,130,608 and $6,284,386 for the six months ended June 30, 2024 and 2023, respectively. Of the total compensation, the Company paid share-based compensation to key management amounting to $4,852,905 and $3,821,871 for the six months ended June 30, 2024 and 2023, respectively.
The Company has a vendor relationship with Cosmic Inc. and Kosmik Development Skopje doo (“Cosmic”) to provide content moderation and software development services. Cosmic is controlled by Chris Pavlovski, our Chairman and Chief Executive Officer, and Ryan Milnes, a member of our board of directors, each of whom holds a significant number of Rumble shares. The Company incurred related party expenses for these services of $884,131 and $704,386 during the three months ended June 30, 2024 and 2023, respectively. The Company incurred related party expenses for these services of $1,663,609 and $1,269,035 during the six months ended June 30, 2024 and 2023, respectively.
There were no other related party transactions during these periods. |