Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Unrecognized Compensation Expense

Unrecognized compensation expense related to the stock-based compensation awards and equity-based awards as of December 31, 2020 was as follows:

	As of December 31, 2020
	Restricted Stock Awards		Common Stock Awards		Common Equity Awards		Outside Options		Publisher Partner Warrants		ABG Warrants		Totals
Unrecognized compensation expense	$	81,620	$	371,932	$	19,874,675	$	283,388	$	-	$	3,214,102	$	23,825,717
Weighted average period expected to be recognized (in years)		0.95		0.67		1.87		1.18		-		2.38		1.91

ABG Warrants [Member]

Schedule of Fair Value of Stock Options Assumptions

The fair value of the ABG Warrants issued during the year ended December 31, 2019 were calculated using the Monte Carlo model by an independent appraisal firm under the Probability Weighted Scenarios utilizing the following assumptions:

	Up-list			No Up-list
Risk-free interest rate		2.00% – 2.10	%		2.00% – 2.10	%
Expected dividend yield		0.00	%		0.00	%
Expected volatility		51.00% – 52.00	%		121.00% – 123.00	%
Expected life		6.0 – 7.3 years			6.2 – 7.3 years

Schedule of Warrants Activity

A summary of the ABG Warrant activity during the years ended December 31, 2020 and 2019 is as follows:

	Number of Shares					Weighted Average Exercise		Weighted Average Remaining Contractual Life
	Unvested			Vested		Price		(in years)
ABG Warrants outstanding at January 1, 2019		-			-	$	-
Issued		21,989,844			-		0.63
ABG Warrants outstanding at December 31, 2019		21,989,844			-		0.63		9.46
Vested		(2,198,985	)		2,198,985		0.63
ABG Warrants outstanding at December 31, 2020		19,790,859			2,198,985		0.63		8.46

Summary of Stock-based Compensation

Stock–based compensation and equity-based expense charged to operations or capitalized during the years ended December 31, 2020 and 2019 are summarized as follows:

	Year Ended December 31, 2020
	Restricted		Common		Common				Publisher
	Stock		Stock		Equity		Outside		Partner		ABG
	Awards		Awards		Awards		Options		Warrants		Warrants		Totals
Cost of revenue	$	163,181	$	156,043	$	3,975,625	$	8,394	$	36,673	$	-	$	4,339,916
Selling and marketing		1,486,722		114,640		2,454,432		272,431		-		-		4,328,225
General and administrative		317,982		615,604		3,439,803		150,577		-		1,449,074		5,973,040
Total costs charged to operations		1,967,885		886,287		9,869,860		431,402		36,673		1,449,074		14,641,181
Capitalized platform development		361,519		178,284		1,062,792		6,400		-		-		1,608,995
Total stock-based compensation	$	2,329,404		1,064,571	$	10,932,652	$	437,802	$	36,673	$	1,449,074	$	16,250,176

	Year Ended December 31, 2019
	Restricted		Common		Common				Publisher
	Stock		Stock		Equity		Outside		Partner		ABG
	Awards		Awards		Awards		Options		Warrants		Warrants		Totals
Cost of revenue	$	122,192	$	44,520	$	774,632	$	1,580	$	50,828	$	-	$	993,752
Selling and marketing		34,393		100,388		455,280		242,399		-		-		832,460
General and administrative		2,541,468		1,660,607		3,383,338		157,359		-		795,803		8,538,575
Total costs charged to operations		2,698,053		1,805,515		4,613,250		401,338		50,828		795,803		10,364,787
Capitalized platform development		535,004		175,837		590,618		5,931		-		-		1,307,390
Total stock-based compensation	$	3,233,057		1,981,352	$	5,203,868	$	407,269	$	50,828	$	795,803	$	11,672,177

Stock Options Outside 2016 Plan and 2019 Plan [Member]

Schedule of Fair Value of Stock Options Assumptions

The fair value for the outside options granted during the year ended December 31, 2019 were calculated using the Black-Scholes option pricing model for the time-based and performance-based awards by an independent appraisal firm under the Probability Weighted Scenarios utilizing the following assumptions:

	Up-list			No Up-list
Risk-free interest rate		2.49% –2.57	%		2.49% – 2.57	%
Expected dividend yield		0.00	%		0.00	%
Expected volatility		74.00% – 95.00	%		122.00% – 142.00	%
Expected life		3.0 – 5.8 years			3.0 – 5.8 years

Summary of Stock Option Activity

A summary of outside option activity during the years ended December 31, 2020 and 2019 is as follows:

						Weighted
						Average
				Weighted		Remaining
	Number			Average		Contractual
	of			Exercise		Life
	Shares			Price		(in Years)
Outside options outstanding at January 1, 2019		2,414,000		$	0.36		9.94
Granted		1,500,000			0.57
Exercised		(2,000	)		0.35
Forfeited		(180,000	)		0.35
Expired		(7,333	)		0.35
Outside options outstanding at December 31, 2019		3,724,667			0.21		9.04
Forfeited		(195,333	)		0.46
Expired		(477,334	)		0.39
Outside options outstanding at December 31, 2020		3,052,000			0.46		8.07
Outside options exercisable at December 31, 2020		2,376,333			0.43		6.20
Outside options not vested at December 31, 2020		675,667

Schedule of Exercise Prices of Common Stock Options

The exercise prices of outside options outstanding and exercisable are as follows as of December 31, 2020:

Exercise	Outstanding		Exercisable
Price	(Shares)		(Shares)
Under $1.00		3,052,000		2,376,333

Publisher Partner Warrant [Member]

Schedule of Exercise Prices of Common Stock Options

The exercise prices of the Publisher Partner Warrants outstanding and exercisable are as follows as of December 31, 2020.

Exercise		Outstanding		Exercisable
Price		(Shares)		(Shares)
	Under $1.00		40,000		40,000
$	1.01 to $1.25		465,419		275,419
$	1.26 to $1.50		68,277		68,277
$	1.51 to $1.75		110,318		27,818
$	1.76 to $2.00		104,449		50,449
$	2.01 to $2.25		1,078		1,078
			789,541		463,041

Schedule of Warrants Activity

A summary of the Publisher Partner Warrants activity during the years ended December 31, 2020 and 2019 is as follows:

						Weighted
						Average
				Weighted		Remaining
	Number			Average		Contractual
	of			Exercise		Life
	Shares			Price		(in Years)
Publisher Partner Warrants outstanding at January 1, 2019		1,017,140		$	1.47		3.26
Forfeited		(77,599	)		1.62
Publisher Partner Warrants outstanding at December 31, 2019		939,541			1.46		2.57
Forfeited		(150,000	)
Publisher Partner Warrants outstanding at December 31, 2020		789,541			1.34		1.50
Publisher Partner Warrants exercisable at December 31, 2020		463,041			1.31		1.52
Publisher Partner Warrants not vested at December 31, 2020		326,500
Publisher Partner Warrants available for future grants at December 31, 2020		1,210,459

Common Stock Awards [Member]

Schedule of Fair Value of Stock Options Assumptions

The fair value of common stock awards granted during the year ended December 31, 2020 were calculated using the Black-Scholes option pricing model under the Probability Weighted Scenarios utilizing the following assumptions:

	Up-list			No Up-list
Risk-free interest rate		0.45	%		0.45	%
Expected dividend yield		0.00	%		0.00	%
Expected volatility		71.00	%		132.00	%
Expected life		6.0 years			6.0 years

Summary of Stock Option Activity

A summary of the common stock award activity during the years ended December 31, 2020 and 2019 is as follows:

						Weighted
						Average
				Weighted		Remaining
	Number			Average		Contractual
	of			Exercise		Life
	Shares			Price		(in Years)
Common stock awards outstanding at January 1, 2019		9,405,541		$	0.61		9.30
Exercised		(25,000	)		0.17
Forfeited		(1,197,776	)		0.73
Expired		(118,204	)		1.09
Common stock awards outstanding at December 31, 2019		8,064,561			0.62		8.34
Granted		234,000			0.90
Exercised		(6,944	)		0.56
Forfeited		(601,179	)		1.09
Expired		(788,101	)		0.53
Common stock awards outstanding at December 31, 2020		6,902,337			0.86		7.50
Common stock awards exercisable at December 31, 2020		6,027,418			0.90		7.47
Common stock awards not vested at December 31, 2020		874,919
Common stock awards available for future grants at December 31, 2020		3,097,663

Schedule of Exercise Prices of Common Stock Options

The exercise prices under the 2016 Plan for the common stock awards outstanding and exercisable are as follows as of December 31, 2020:

Exercise		Outstanding		Exercisable
Price		(Shares)		(Shares)
	Under $1.00		4,825,750		3,982,816
$	1.01 to $1.25		780,751		779,843
$	1.51 to $1.75		250,000		229,479
$	1.76 to $2.00		924,169		913,613
$	2.01 to $2.25		121,667		121,667
			6,902,337		6,027,418

Common Equity Awards [Member]

Schedule of Fair Value of Stock Options Assumptions

The fair value of common equity awards granted during the years ended December 31, 2020 and 2019 were calculated using the Black-Scholes option pricing model for the time-based and performance-based awards by an independent appraisal firm under the Probability Weighted Scenarios utilizing the following assumptions:

	December 31, 2020						December 31, 2019
	Up-list			No Up-list			Up-list			No Up-list
Expected life		0.20% - 0.79	%		0.20% - 0.79	%		1.51% - 2.59	%		1.51% - 2.59	%
Risk-free interest rate		0.00	%		0.00	%		0.00	%		0.00	%
Volatility factor		61.00% - 91.00	%		61.00% - 142.00	%		69.00% - 95.00	%		119.00% - 149.00	%
Dividend rate		3.0 – 6.7 years			3.0 – 6.7 years			3.0 – 6.0 years			3.0 – 6.0 years

The fair value of common equity awards granted during the year ended December 31, 2019 were calculated using the Monte Carlo model for the market-based awards by an independent appraisal firm under the Probability Weighted Scenarios utilizing the following assumptions:

	Up-list			No Up-list
Expected life		2.20% - 2.70	%		2.16% - 2.71	%
Risk-free interest rate		0.00	%		0.00	%
Volatility factor		140.00% - 146.00	%		110.00	%
Dividend rate		10.0 years			10.0 years

Summary of Stock Option Activity

A summary of the common equity award activity during the years ended December 31, 2020 and 2019 is as follows:

						Weighted
						Average
				Weighted		Remaining
	Number			Average		Contractual
	of			Exercise		Life
	Shares			Price		(in Years)
Common equity awards outstanding at January 1, 2019		-		$	-		-
Granted		68,180,863			0.53
Forfeited		(3,167,218	)		0.53
Common equity awards outstanding at December 31, 2019		65,013,645			0.53		9.43
Granted		25,393,768			0.71
Forfeited		(8,342,377	)		0.61
Expired		(2,722	)		0.56
Common equity awards vested at December 31, 2020		82,062,314			0.58		8.65
Common equity awards exercisable at December 31, 2020		13,608,686			0.54		8.49
Common equity awards not vested at December 31, 2020		68,453,628
Common equity awards available for future grants at December 31, 2020		2,937,686

Schedule of Exercise Prices of Common Stock Options

The exercise prices under the 2019 Plan for the common equity awards outstanding and exercisable are as follows as of December 31, 2020:

Exercise	Outstanding		Exercisable
Price	(Shares)		(Shares)
No exercise price		250,000		250,000
Under $1.00		81,812,314		13,358,686
		82,062,314		13,608,686

Restricted Stock Units [Member]

Schedule of Restricted Stock Units Activity

A summary of the restricted stock unit activity during the years ended December 31, 2020 and 2019 is as follows:

	Number of Shares					Weighted Average Grant-Date
	Unvested			Vested		Fair Value
Restricted stock units outstanding at January 1, 2019		-			-	$	-
Granted		2,399,997			-		0.45
Restricted stock units outstanding at December 31, 2019		2,399,997			-		0.45
Forfeited		(2,399,997	)		-
Restricted stock units outstanding at December 31, 2020		-			-		-