XBRL Proof

XBRL File

 
Document - Document and Entity Information
Document - Document and Entity Information (USD $) 3 Months Ended  
( custom:DocumentAndEntityInformationAbstract [Extension] )    
  Mar. 31, 2017 Jan. 4, 2018
     
     
     
Entity Registrant Name Capital Art, Inc.  
( dei:EntityRegistrantName )    
Entity Central Index Key 0001527844  
( dei:EntityCentralIndexKey )    
Document Type 10-Q  
( dei:DocumentType )    
Document Period End Date 2017-03-31  
( dei:DocumentPeriodEndDate )    
Amendment Flag false  
( dei:AmendmentFlag )    
Current Fiscal Year End Date --12-31  
( dei:CurrentFiscalYearEndDate )    
Is Entity a Well-known Seasoned Issuer? No  
( dei:EntityWellKnownSeasonedIssuer )    
Is Entity a Voluntary Filer? No  
( dei:EntityVoluntaryFilers )    
Is Entity's Reporting Status Current? No  
( dei:EntityCurrentReportingStatus )    
Entity Filer Category Smaller Reporting Company  
( dei:EntityFilerCategory )    
Entity Public Float    
( dei:EntityPublicFloat )    
Entity Common Stock, Shares Outstanding   325,523,466
( dei:EntityCommonStockSharesOutstanding )    
Document Fiscal Period Focus Q1  
( dei:DocumentFiscalPeriodFocus )    
Document Fiscal Year Focus 2017  
( dei:DocumentFiscalYearFocus )    
(End Document - Document and Entity Information)
 
Statement - Consolidated Balance Sheets
Statement - Consolidated Balance Sheets (USD $)      
( us-gaap:StatementOfFinancialPositionAbstract )      
  Mar. 31, 2017 Dec. 31, 2016 Dec. 31, 2015
       
       
       
Assets      
( us-gaap:AssetsAbstract )      
    Current Assets      
    ( us-gaap:AssetsCurrentAbstract )      
        Cash 16,088 54,034 32,570
        ( us-gaap:Cash )      
        Accounts receivable, net 39,763 91,501  
        ( us-gaap:AccountsReceivableNetCurrent )      
        Inventory, net 13,241 10,741  
        ( us-gaap:InventoryNet )      
        Prepaid expenses 75,514 18,341  
        ( us-gaap:PrepaidExpenseAndOtherAssetsCurrent )      
        Due from related party 78,920 78,920  
        ( us-gaap:DueFromRelatedPartiesNoncurrent )      
        Total Current Assets 223,526 253,537  
        ( us-gaap:AssetsCurrent )      
        Property and equipment, net 2,790,718 2,843,587  
        ( us-gaap:PropertyPlantAndEquipmentNet )      
        Security deposit 6,356 6,356  
        ( us-gaap:SecurityDeposit )      
        Intangible Assets, net 358,875 369,750  
        ( us-gaap:IntangibleAssetsCurrent )      
        Total Assets 3,379,475 3,473,230  
        ( us-gaap:Assets )      
        Liabilities and Stockholders' Equity      
        ( us-gaap:LiabilitiesAndStockholdersEquityAbstract )      
            Current Liabilities      
            ( us-gaap:LiabilitiesCurrentAbstract )      
                Accounts payable and accrued liabilities 511,942 602,153  
                ( us-gaap:AccountsPayableCurrent )      
                Payable to Globe Photo, Inc. 10,000 10,000  
                ( us-gaap:OtherLoansPayableCurrent )      
                Due to related parties 82,270 32,245  
                ( us-gaap:DueToRelatedPartiesCurrent )      
                Notes payable - related parties 467,454 471,284  
                ( us-gaap:ShortTermBorrowings )      
                Notes payable, net of debt discount 506,801 494,335  
                ( us-gaap:NotesPayableRelatedPartiesClassifiedCurrent )      
                Derivative liability 67,689 57,922  
                ( us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability )      
                Loans payable, net of unamortized discount 551,186 349,818  
                ( us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet )      
                Total Current Liabilities 2,197,342 2,017,757  
                ( us-gaap:LiabilitiesCurrent )      
                Preferred stock, $0.0001 par value, 50,000,000 shares authorized; none issued and outstanding at March 31, 2017 and December 31, 2016  
                ( us-gaap:PreferredStockValue )      
                Common stock par value $0.0001: 450,000,000 shares authorized; 325,570,524 and 325,570,524 issued and 325,523,466 and 325,570,524 outstanding as of March 31, 2017 and December 31, 2016 respectively 32,557 32,557  
                ( us-gaap:CommonStockValue )      
                Additional paid in capital 4,097,711 4,097,711  
                ( us-gaap:AdditionalPaidInCapital )      
                Treasury stock; 47,058 and 0 shares as of March 31, 2017 and December 31, 2017, respectivley. 16,000  
                ( us-gaap:TreasuryStockCommonValue )      
                Accumulated deficit (2,932,135)    
                ( us-gaap:RetainedEarningsAccumulatedDeficit )      
                Shareholders' Equity 1,182,133 1,805,291  
                ( us-gaap:StockholdersEquity )      
                Total Liabilities 2,197,342 2,017,757  
                ( us-gaap:Liabilities )      
                Total Liabilities and Stockholders' Equity 3,379,475 3,473,230  
                ( us-gaap:LiabilitiesAndStockholdersEquity )      
(End Statement - Consolidated Balance Sheets)
 
Statement - Consolidated Balance Sheets (Parenthetical)
Statement - Consolidated Balance Sheets (Parenthetical) (USD $)    
( us-gaap:StatementOfFinancialPositionAbstract )    
  Mar. 31, 2017 Dec. 31, 2016
     
     
     
Preferred stock, par value 0.0001 0.0001
( us-gaap:PreferredStockParOrStatedValuePerShare )    
Preferred stock, shares authorized 50,000,000 50,000,000
( us-gaap:PreferredStockSharesAuthorized )    
Preferred stock, shares issued 0 0
( us-gaap:PreferredStockSharesIssued )    
Preferred stock, shares outstanding 0 0
( us-gaap:PreferredStockSharesOutstanding )    
Common stock, par value 0.0001 0.0001
( us-gaap:CommonStockParOrStatedValuePerShare )    
Common stock, shares authorized 450,000,000 450,000,000
( us-gaap:CommonStockSharesAuthorized )    
Common stock, shares issued 325,523,466 325,570,524
( us-gaap:CommonStockSharesIssued )    
Common stock, shares outstanding 325,523,466 325,570,524
( us-gaap:CommonStockSharesOutstanding )    
Treasury stock, shares 47,058 0
( us-gaap:TreasuryStockCommonShares )    
(End Statement - Consolidated Balance Sheets (Parenthetical))
 
Statement - Consolidated Statements of Operations
Statement - Consolidated Statements of Operations (USD $) 3 Months Ended
( us-gaap:IncomeStatementAbstract )  
  Mar. 31, 2017 Mar. 31, 2016
     
     
     
License revenue 46,477 58,854
( custom:LicenseRevenue [Extension] )    
Image revenue 106,088 39,495
( custom:ImageRevenue [Extension] )    
Total revenue 152,565 98,349
( us-gaap:Revenues )    
Cost of revenue 134,798 156,241
( us-gaap:CostOfRevenue )    
Gross margin (loss) 17,767 (57,892)
( us-gaap:GrossProfit )    
Operating expenses    
( us-gaap:OperatingExpensesAbstract )    
    Product development, sales and marketing 41,838 83,108
    ( us-gaap:BusinessDevelopment )    
    General and administrative 166,311 146,142
    ( us-gaap:GeneralAndAdministrativeExpense )    
    Depreciation and amortization 18,453 18,917
    ( us-gaap:DepreciationAndAmortization )    
    Total operating expenses 226,602 248,167
    ( us-gaap:OperatingExpenses )    
    Loss from operations (208,835) (306,059)
    ( us-gaap:OperatingIncomeLoss )    
    Other income (expenses)    
    ( us-gaap:OtherIncomeAndExpensesAbstract )    
        Interest expense (38,738) (15,550)
        ( us-gaap:InterestExpense )    
        Change in fair value of derivative liabilities 9,767 2,000
        ( us-gaap:InterestExpenseTradingLiabilities )    
        Other income (expenses) (48,505) (17,550)
        ( us-gaap:OtherNonoperatingIncomeExpense )    
        Net loss (257,340) (323,609)
        ( us-gaap:NetIncomeLoss )    
        Per-share data    
        ( us-gaap:EarningsPerShareBasicAndDilutedAbstract )    
        Basic and diluted loss per share 0.00 0.00
        ( us-gaap:EarningsPerShareBasicAndDiluted )    
        Weighted average number of common shares outstanding - basic and diluted 325,523,466 325,341,224
        ( us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted )    
(End Statement - Consolidated Statements of Operations)
 
Statement - Consolidated Statements of Cash Flows
Statement - Consolidated Statements of Cash Flows (USD $) 3 Months Ended
( us-gaap:StatementOfCashFlowsAbstract )  
  Mar. 31, 2017 Mar. 31, 2016
     
     
     
CASH FLOWS FROM OPERATING ACTIVITIES:    
( us-gaap:NetCashProvidedByUsedInOperatingActivitiesAbstract )    
    Net loss (257,340) (323,609)
    ( us-gaap:NetIncomeLoss )    
Adjustments to reconcile net loss to net cash used in operating activities:    
( us-gaap:AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract )    
    Depreciation and amortization 112,134 105,596
    ( us-gaap:DepreciationAmortizationAndAccretionNet )    
    Amortization of debt discount 17,968
    ( us-gaap:AmortizationOfDebtDiscountPremium )    
    Allowance for bad debts 4,600
    ( us-gaap:AllowanceForLoanAndLeaseLossRecoveryOfBadDebts )    
    Change in fair value of embedded derivative 9,767 2,000
    ( us-gaap:EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet )    
    Accounts receivable 51,738 96,135
    ( us-gaap:IncreaseDecreaseInAccountsReceivable )    
    Prepaid expenses (57,173) 15,552
    ( us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets )    
    Inventory (2,500) (45,887)
    ( us-gaap:IncreaseDecreaseInInventories )    
    Accounts payable and accrued liabilities (90,211) 138,383
    ( us-gaap:IncreaseDecreaseInAccountsPayable )    
    Net Cash Used In Operating Activities (215,617) (7,230)
    ( us-gaap:NetCashProvidedByUsedInOperatingActivities )    
CASH FLOWS FROM INVESTING ACTIVITIES:    
( us-gaap:NetCashProvidedByUsedInInvestingActivitiesAbstract )    
    Net cash paid for minority investment in business  
    ( us-gaap:PaymentsForProceedsFromInvestments )    
    Purchase of archival images, property and equipment (48,390) (20,100)
    ( us-gaap:PaymentsToAcquirePropertyPlantAndEquipment )    
    Advances to related parties 14,000
    ( us-gaap:ProceedsFromRelatedPartyDebt )    
    Cash paid to Globe Photo, Inc for assets acquired (20,000)
    ( custom:CashPaidForIntangibles [Extension] )    
    Net Cash Used In Investing Activities 48,390 (54,100)
    ( us-gaap:NetCashProvidedByUsedInInvestingActivities )    
CASH FLOWS FROM FINANCING ACTIVITIES:    
( us-gaap:NetCashProvidedByUsedInFinancingActivitiesAbstract )    
    Proceeds from loans payable 200,000
    ( us-gaap:ProceedsFromConvertibleDebt )    
    Repayment of loans payable 4,134
    ( us-gaap:RepaymentsOfConstructionLoansPayable )    
    Proceeds from related party advances 50,275 17,000
    ( us-gaap:ProceedsFromCollectionOfLongtermLoansToRelatedParties )    
    Repayment of related party advances (250)
    ( us-gaap:PaymentsToFundLongtermLoansToRelatedParties )    
    Proceeds from notes payable 25,000 22,500
    ( us-gaap:ProceedsFromNotesPayable )    
    Repayment of note payable 25,000
    ( us-gaap:RepaymentsOfNotesPayable )    
    Repayment of note payable - related party (3,830) (3,740)
    ( us-gaap:RepaymentsOfRelatedPartyDebt )    
    Purchase of treasury stock 16,000
    ( us-gaap:PaymentsForRepurchaseOfConvertiblePreferredStock )    
    Net Cash Provided By Financing Activities 226,061 35,760
    ( us-gaap:NetCashProvidedByUsedInFinancingActivities )    
Net Change in Cash (37,946) (25,570)
( us-gaap:CashPeriodIncreaseDecrease )    
Cash - Beginning of Period 54,034 32,570
( us-gaap:Cash )    
Cash - End of Period 16,088 7,000
( custom:CashEnd [Extension] )    
SUPPLEMENTARY CASH FLOW INFORMATION:    
( us-gaap:SupplementalCashFlowInformationAbstract )    
    Cash Paid During the Period for:    
    ( us-gaap:CashDividendsPaidToParentCompanyAbstract )    
        Interest 6,894 9,261
        ( us-gaap:InterestPaidNet )    
(End Statement - Consolidated Statements of Cash Flows)
 
Disclosure - Organization and Business Operations
Disclosure - Organization and Business Operations (USD $) 3 Months Ended
( us-gaap:AccountingPoliciesAbstract )  
  Mar. 31, 2017
   
   
   
Organization and Business Operations

Capital Art, Inc. (formerly Movie Star News, LLC) (“we”, “our”, the “Company”) sells and manages classic and contemporary, limited edition photographic images and reproductions, with a focus on iconic celebrity images. The Company also makes available its images for publications and merchandizing. The Company aims to become a leading global photography marketing and distribution company by acquiring rights and ownership to collections of rare iconic negatives and photographs, and to establish worldwide wholesale and retail sales channels.

 

Going Concern

 

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business.

 

Management evaluated all relevant conditions and events that are reasonably known or reasonably knowable, in the aggregate, as of the date the consolidated financial statements are issued and determined that substantial doubt exists about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent on the Company’s ability to generate revenues and raise capital. The Company has not generated sufficient revenues from product sales to provide sufficient cash flows to enable the Company to finance its operations internally. As of March 31, 2017, the Company had $16,088 cash on hand. At March 31, 2017 the Company has an accumulated deficit of $2,932,135 For the three months ended March 31, 2017 the Company had a net loss of $257,340  and cash used in operations of $215,617 . These factors raise substantial doubt about the Company’s ability to continue as a going concern.

 

The Company intends to invest its working capital resources in sales and marketing in order to increase the distribution and demand for its products. If the Company fails to generate sufficient revenue and obtain additional capital to continue at its expected level of operations, the Company may be forced to scale back or discontinue its sales and marketing efforts. However, there is no guarantee the Company will generate sufficient revenues or raise capital to continue operations. The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

( us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock )  
(End Disclosure - Organization and Business Operations)
 
Disclosure - Significant Accounting Policies
Disclosure - Significant Accounting Policies (USD $) 3 Months Ended
( us-gaap:AccountingPoliciesAbstract )  
  Mar. 31, 2017
   
   
   
Significant Accounting Policies

Basis of Presentation

 

The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. Certain information and note disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in the consolidated financial statements for the three months ended March 31, 2017 should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Form 10-K for the Company’s fiscal year ended December 31, 2016 as filed with the SEC pursuant to Rule 12(b) under the Securities Act of 1934.

 

The consolidated balance sheet as of December 31, 2016, included herein was derived from the audited financial statements as of that date, but does not include all disclosures including notes required by GAAP.

 

The accompanying unaudited consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the year ended December 31, 2017.

 

The accompanying consolidated financial statements represent the results of operations, financial position and cash flows of Capital Art, Inc., and its 100% owned subsidiary Capital Art, LLC and Globe Photos, LLC for the three months ended March 31, 2017 and 2016. All inter-company balances and transactions have been eliminated.

 

Use of Estimates 

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and also requires disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

 

Inventory

 

The Company’s inventory is comprised of rare photos of movie stars and other famous people, and is stated at the lower of cost or net realizable value. Direct labor and raw material costs associated with the process of making the photos available for sale are also included in inventory at cost. These costs are expensed to cost of sales pro-ratably as sold.

 

Revenue Recognition

 

The Company recognizes revenue related to product sales when (i) the seller’s price is substantially fixed, (ii) shipment has occurred causing the buyer to be obligated to pay for product, (iii) the buyer has economic substance apart from the seller, and (iv) there is no significant obligation for future performance to directly bring about the resale of the product by the buyer as required by ASC 605 – Revenue Recognition. Cost of sales, rebates and discounts are recorded at the time of revenue recognition or at each financial reporting date.

 

The Company’s other revenue represent payments based on net sales from brand licensees for content reproduction rights. These license agreements are held in conjunction with third parties that are responsible for collecting fees due and remitting to the Company its share after expenses. Revenue from licensed products and royalties are recognized when realized or realizable based on royalty reporting received from licensees.

 

Basic and Diluted Loss per Share  

 

The Company computes income and loss per share in accordance with ASC 260 - Earnings per Share. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the consolidated statements of operations. Basic EPS is computed by dividing net loss available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. Diluted EPS excludes all dilutive potential shares if their effect is antidilutive. During periods of net loss, all common stock equivalents are excluded from the diluted EPS calculation because they are antidilutive.

 

A reconciliation of weighted-average basic shares outstanding to weighted-average diluted shares outstanding follows:

 

   Three Months Ended March 31,
   2017  2016
Basic weighted average common shares outstanding   325,523,466    325,341,224
          
Effect of dilutive securities   —      —  
          
Diluted weighted average common and potential common shares outstanding   325,523,466    325,341,224

 

Reclassifications

 

Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations.

 

Recent Accounting Pronouncements

In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net). ASU 2016-08 clarifies the implementation guidance on principal versus agent considerations and includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to the customers. ASU 2016-08 is effective January 1, 2018 to be in alignment with the effective date of ASU 2014-09.

In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing.  The amendments in ASU 2016-10 clarify the following two aspects of Topic 606: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. ASU 2016-10 is effective January 1, 2018 to be in alignment with the effective date of ASU 2014-09.

In May 2016, the FASB issued ASU 2016-12, Revenue from Contracts from Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients. The amendments in this update affect the guidance in ASU 2014-09, which is not yet effective. The core principle of the guidance in Topic 606 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The amendments in ASU 2016-12 do not change the core principle of the guidance in Topic 606, but instead affect only the narrow aspects noted in Topic 606. ASU 2016-12 is effective January 1, 2018 to be in alignment with the effective date of ASU 2014-09. Management evaluated ASU 2016-08, ASU2016-09, ASU 2016-10, and ASU 2016-12 and determined the adoption will not have a material impact on the Company’s consolidated financial statements. 

In December 2016, the FASB issued ASU 2016-20, “Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers”. The effective date and transition requirements for the amendments are the same as the effective date and transition requirements for Topic 606 (and any other Topic amended by Update 2014-09). Accounting Standards Update No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, defers the effective date of Update 2014-09 by one year. 

In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities. ASU 2016-01 addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments including requirements to measure most equity investments at fair value with changes in fair value recognized in net income, to perform a qualitative assessment of equity investments without readily determinable fair values, and to separately present financial assets and liabilities by measurement category and by type of financial asset on the balance sheet or the accompanying notes to the financial statements. ASU 2016-01 will be effective for the Company beginning on January 1, 2018, and will be applied by means of a cumulative effect adjustment to the balance sheet, except for effects related to equity securities without readily determinable values, which will be applied prospectively. Management has reviewed this pronouncement and have determined that it would not have a material impact to the financial statements.

In February 2016, the FASB issued ASU 2016-02, Leases, which requires an entity to recognize long-term lease arrangements as assets and liabilities on the balance sheet of the lessee. Under ASU 2016-02, a right-of-use asset and lease obligation will be recorded for all long-term leases, whether operating or financing, while the income statement will reflect lease expense for operating leases and amortization/interest expense for financing leases. The amendments also require certain new quantitative and qualitative disclosures regarding leasing arrangements. ASU 2016-02 will be effective for the Company beginning on January 1, 2019. Lessees must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. Early adoption is permitted. Management does not believe the adoption of ASU 2016-02 will have a material impact on the Company’s consolidated financial statements. 

In March 2016, the FASB issued ASU 2016-05, Derivatives and Hedging: Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships, which clarifies that a change in the counterparty to a derivative instrument that has been designated as a hedging instrument would not, in and of itself, be considered a termination of the derivative instrument, provided that all other hedge accounting criteria continue to be met. ASU 2016-05 is effective for the Company beginning on January 1, 2017. Early adoption is permitted, including in an interim period. Management evaluated ASU 2016-05 and determined the adoption of this new accounting standard did not have a material impact on the Company’s consolidated financial statements.

In March 2016, the FASB issued ASU 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments, which aims to reduce the diversity of practice in identifying embedded derivatives in debt instruments. ASU 2016-06 clarifies that the nature of an exercise contingency is not subject to the “clearly and closely” criteria for purposes of assessing whether the call or put option must be separated from the debt instrument and accounted for separately as a derivative. ASU 2016-06 is effective for the Company beginning on January 1, 2017. Management evaluated ASU 2016-06 and determined the adoption of this this new accounting standard did not have a material impact on the Company’s consolidated financial statements.

In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting. ASU 2016-09 simplifies several aspects of the accounting and presentation of share-based payment transactions, including the accounting for related income taxes consequences and certain classifications within the statement of cash flows. ASU 2016-09 is effective for the Company beginning on January 1, 2017. Management evaluated the impact of adopting ASU 2016-09 and determined the new accounting standard did not have a material impact on the Company’s consolidated financial statements.

In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). ASU 2016-15 will make eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017. The new standard will require adoption on a retrospective basis unless it is impracticable to apply, in which case it would be required to apply the amendments prospectively as of the earliest date practicable.

In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230)”, requiring that the statement of cash flows explain the change in the total cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. This guidance is effective for fiscal years, and interim reporting periods therein, beginning after December 15, 2017 with early adoption permitted. The provisions of this guidance are to be applied using a retrospective approach which requires application of the guidance for all periods presented. Management has reviewed this pronouncement and have determined that it would not have a material impact to the financial statements.

In May 2017, the FASB issued ASU 2017-09, Compensation-Stock Compensation (Topic 718), Scope of Modification Accounting. The amendments in this Update provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. The amendments in this Update are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted, including adoption in any interim period, for (1) public business entities for reporting periods for which financial statements have not yet been issued and (2) all other entities for reporting periods for which financial statements have not yet been made available for issuance. Management has reviewed this pronouncement and have determined that it would not have a material impact to the financial statements.

In July 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480), Derivatives and Hedging (Topic 815). The amendments in Part I of this Update change the classification analysis of certain equity-linked financial instruments (or embedded features) with down round features. When determining whether certain financial instruments should be classified as liabilities or equity instruments, a down round feature no longer precludes equity classification when assessing whether the instrument is indexed to an entity’s own stock. The amendments also clarify existing disclosure requirements for equity-classified instruments. As a result, a freestanding equity-linked financial instrument (or embedded conversion option) no longer would be accounted for as a derivative liability at fair value as a result of the existence of a down round feature. For freestanding equity classified financial instruments, the amendments require entities that present earnings per share (EPS) in accordance with Topic 260 to recognize the effect of the down round feature when it is triggered. That effect is treated as a dividend and as a reduction of income available to common shareholders in basic EPS. Convertible instruments with embedded conversion options that have down round features are now subject to the specialized guidance for contingent beneficial conversion features (in Subtopic 470-20, Debt—Debt with Conversion and Other Options), including related EPS guidance (in Topic 260). The amendments in Part II of this Update recharacterize the indefinite deferral of certain provisions of Topic 480 that now are presented as pending content in the Codification, to a scope exception. Those amendments do not have an accounting effect. For public business entities, the amendments in Part I of this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. For all other entities, the amendments in Part I of this Update are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted for all entities, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period.

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Disclosure - Fair Value of Financial Instruments
Disclosure - Fair Value of Financial Instruments (USD $) 3 Months Ended
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  Mar. 31, 2017
   
   
   
Fair Value of Financial Instruments

The Company’s derivative liability measured at fair value on a recurring basis was determined using the following inputs:

 

    Fair Value Measurements at March 31, 2017
          Quoted Prices in Active Markets for Identical Assets     Significant Other Observable Inputs     Significant Unobservable Inputs
    Total     (Level 1)     (Level 2)     (Level 3)
Put option derivative liability   $ 67,689     $     $     $ 67,689

 

    Fair Value Measurements at December 31, 2016
          Quoted Prices in Active Markets for Identical Assets     Significant Other Observable Inputs     Significant Unobservable Inputs
    Total     (Level 1)     (Level 2)     (Level 3)
Put option derivative liability   $ 57,922     $     $     $ 57,922

 

The following table provides a summary of the changes in fair value, including net transfers in and/or out, of the derivative financial instruments, measured at fair value on a recurring basis using significant unobservable inputs:

 

    Fair Value Measurements Using Significant Unobservable Inputs  
    (Level 3)  
      Embedded Derivative Liability  
      March 31,       December 31,  
      2017       2016   
Balance beginning of period   $ 57,922     $ 55,000  
                 
Change in fair market value of derivative liability     9,767       2,922  
Balance end of period   $ 67,689     $ 57,922  
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(End Disclosure - Fair Value of Financial Instruments)
 
Disclosure - Property and Equipment, Net
Disclosure - Property and Equipment, Net (USD $) 3 Months Ended
( us-gaap:PropertyPlantAndEquipmentAbstract )  
  Mar. 31, 2017
   
   
   
Archival Images, and Property and Equipment

Property and equipment as of March 31, 2017 and December 31, 2016 comprise of the following:

 

    March 31, December 31,     Estimated Useful
    2017     2016     Lives
Frank Worth Collection   $ 2,770,000     $ 2,770,000     10 years
Other archival images     931,683       889,331     10 years
Leasehold improvements     12,446       12,446     7 years
Computer and other equipment     71,354       65,316     3 – 5 years
Furniture and fixtures     83,666       83,666     7 years
      3,869,149       3,820,759      
Less accumulated deprecation     (1,078,431)       (977,172 )    
Total archival images, property and equipment, net   $ 2,790,718     $ 2,843,587      

 

Depreciation expense was $101,259 and $105,596 for the three months ended March 31, 2017 and 2016, respectively of which $93,681 and $86,679 are reported in cost of revenue, respectively.

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(End Disclosure - Property and Equipment, Net)
 
Disclosure - Intangible Assets, Net
Disclosure - Intangible Assets, Net (USD $) 3 Months Ended
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  Mar. 31, 2017
   
   
   
Intangible Assets

Identifiable intangible assets comprise of the following at March 31, 2017 and December 31, 2016:

 

   March 31, 2017     December 31, 2016   
   Gross Carrying   Amount 

Accumulated Amortization

  Net book value  Gross Carrying   Amount 

Accumulated Amortization

  Net book value
Intangible assets with determinable lives:                             
                              
Content provider and photographic agreements  $400,000   $70,000   $330,000   $400,000   $60,000   $340,000
Copyrights   35,000    6,125    28,875    35,000    5,250    29,750
Total  $435,000   $76,125   $358,875   $435,000   $65,250   $369,750

 

Amortization expense in connection with the photographic agreements and copyrights for each of the three months ended March 31, 2017 and 2016 was $10,875 and is included in depreciation and amortization expense in the consolidated statements of operations. Estimated amortization expense over the next five years is $43,500 per year.

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Disclosure - Notes Payable
Disclosure - Notes Payable (USD $) 3 Months Ended
( us-gaap:DebtDisclosureAbstract )  
  Mar. 31, 2017
   
   
   
Note Payable

On September 28, 2015, the Company entered into a promissory note agreement for working capital purposes with an unrelated party for total proceeds of $150,000. The note matured on September 28, 2016. Effective September 28, 2016, the note was extended to March 31, 2017 and is secured by approximately 240,000 vintage photographs. Interest accrues at the rate of 10% per annum and is payable monthly beginning October 28, 2015. Interest expense was $3,750 and $3,750 at March 31, 2017 and 2016, respectively. Effective July 31, 2017 the note was extended to December 31, 2017 and is currently past due.

In December 2015, the Company entered into a secured promissory note agreement with an unrelated party for working capital purposes for total proceeds of $120,000. The note matured on December 31, 2017 and is currently past due, bears interest at the rate of 10% per annum, and is payable on the 1st day of each month commencing in February 2016. On February 15, 2016, the Company entered into an additional promissory note agreement with the unrelated party for additional proceeds of $62,500 under the same terms as the first note. The notes are secured by certain inventory and archival images of the Company in the amount of up to $200,000. Interest expense was $4,563 and $3,563 at March 31, 2017 and 2016, respectively. As of the date of this filing this note is still outstanding and currently in default.

In April 2016, the Company entered into two unsecured promissory note agreements with unrelated parties for working capital purposes for total proceeds of $75,000. The promissory notes matured in December 2017 and is currently past due and bear interest at the rate of 6% per annum. Interest expense was $1,125 and $0 at March 31, 2017 and 2016, respectively.

On April 7, 2016, an unrelated party advanced the Company $75,000 plus an original issue discount of $25,000 for the purchase of a Marilyn Monroe archive. The advance is secured by the archive for which it was used and is to be repaid on or before April 7, 2017. As of May 3, 2017, the note was extended to December 31, 2017 and is currently past due. The Company has agreed to pay 50% of the proceeds derived from the Marilyn Monroe archives up to a guaranteed total of $100,000. Once the $100,000 is paid, the Company has no further obligations. As of March 31, 2017, the balance of $100,000 remains outstanding. During three months ended March 31, 2017, $12,466 of the discount has been amortized to interest expense. The note is shown net of the unamortized portion of the discount of $699 as of March 31, 2017.

On February 24, 2017, the Company entered into a short-term unsecured note with an unrelated party for working capital purposes for total proceeds of $25,000. During the three months ended March 31, 2017, the Company repaid $27,000, including $2,000 in interest expense. As of March 31, 2017, the note has been paid in full.

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(End Disclosure - Notes Payable)
 
Disclosure - Related Party Transactions
Disclosure - Related Party Transactions (USD $) 3 Months Ended
( us-gaap:RelatedPartyTransactionsAbstract )  
  Mar. 31, 2017
   
   
   
Related Party Transactions

Notes payable to related parties  

Effective July 21, 2015, the Company entered into a promissory note agreement with a related party Dino Satallante, a beneficial interest shareholder of the Company, for total proceeds of $160,000. The Company utilized $80,000 of the proceeds for payments due in connection with the Globe Photo assets acquired. The remainder of the proceeds were used for working capital purposes. The note matured on July 20, 2016, with monthly interest only payments commencing July 22, 2015. Interest accrues at the rate of 12% per annum. The note is secured by the Globe Photo Assets. Total interest expense in connection with the secured promissory note agreement for the three months ended March 31, 2017 and 2016 is $3,750 and $4,800, respectively. Per the terms of the agreement the Company incurred loan fees totaling $8,000 to be amortized over the term of the loan. For the three months ended March 31, 2017 and 2016, amortization expense in connection with the loan fees totaled $0 and $2,001, respectively. Effective July 20, 2016 the note was extended to December 31, 2017 and is currently past due. We considered ASC Topic 470-50, Debt Modifications and Extinguishments, and determined that the modification is not considered substantially different under the guidance and as such extinguishment accounting was not applied.

 

On August 1, 2013 the Company entered into an unsecured promissory note agreement with a related party Dino Satallante for $100,000. The loan bears interest at the rate of 5% per annum. During three months ended March 31, 2017, $3,830 of note principal was repaid. As of March 31, 2017, and December 31, 2016 and 2015, $72,354 and $76,183 was outstanding under the unsecured promissory note agreement, respectively. Interest expense for the three months ended March 31, 2017 and 2016 was $904 and $1,260 respectively. The loan matured on July 14, 2014 and was extended to July 31, 2016. Effective July 31, 2016, the note agreement was extended to December 31, 2017 and is currently past due. We considered ASC Topic 470-50, Debt Modifications and Extinguishments, and determined that the modification is not considered substantially different under the guidance and as such extinguishment accounting was not applied.

Effective September 11, 2014 the Company entered into two separate unsecured promissory note agreements for $20,500 each with two related parties, Dreamstar an entity owned and controlled by Sam Battistone, a Company officer and director and a principal shareholder, and Dino Satallante, a beneficial interest shareholders of the Company, for working capital purposes. The loans bear interest at the rate of 6% per annum. The loans matured on September 10, 2015, and were extended to December 31, 2016. In December 2016, both loans were extended to December 31, 2017 and are currently past due. We considered ASC Topic 470-50, Debt Modifications and Extinguishments, and determined that the modification is not considered substantially different under the guidance and as such extinguishment accounting was not applied. At March 31, 2017 and December 31, 2016, $20,500 and $18,100 was outstanding to Dino Satallante and Dreamstar, respectively. Interest expense in connection with the two unsecured promissory note agreements for the three months ended March 31, 2017 and 2016 was $579 and $579, respectively.

On April 4, 2016 the Company entered into a secured promissory note agreement with Premier Collectibles, a beneficial interest shareholder for total proceeds of $65,000 to be used for acquisition of archive agreement. The promissory note bears interest at the rate of 8% per annum, is secured by the archive collection which the proceeds were used and matured on April 1, 2017. The note was extended to July 31, 2017 and is currently past due. We considered ASC Topic 470-50, Debt Modifications and Extinguishments, and determined that the modification is not considered substantially different under the guidance and as such extinguishment accounting was not applied. Interest expense on the note was $1,300 and $0 for the three months ended March 31, 2017 and 2016, respectively.

On April 15, 2016, the Company entered into an unsecured promissory note agreement with Sean Goodchild, a beneficial interest shareholder, for total proceeds of $50,000. The promissory note bears interest at the rate of 6% per annum and matured on December 15, 2017 and is currently past due. Interest expense was $745 and $0 for the three months ended March 31, 2017 and 2016, respectively.

On October 3, 2016, the Company entered into an unsecured promissory note agreement with Sean Goodchild, a beneficial interest shareholder, for total proceeds of $50,000. The promissory note bears interest at the rate of 6% per annum and matured on December 31, 2017 and is currently past due. Interest expense was $750 and $0 for the three months ended March 31, 2017 and 2016, respectively.

On December 2, 2016, the Company entered into an unsecured promissory note agreement with Sean Goodchild, a beneficial interest shareholder, for total proceeds of $31,500. The promissory note bears interest at the rate of 6% per annum and matured on December 31, 2017 and is currently past due. Interest expense was $473 and $0 for the three months ended March 31, 2017 and 2016, respectively.

 Due From/To Related Parties

The following table summarizes amounts due to the Company from related parties related to contractual agreements and amounts due to related parties for expenses paid for on the behalf of the Company as of March 31, 2017 and December 31, 2016. During the three month ended March 31, 2017 and 2016, the Company was advanced $50,275 and $17,000 and repaid $250 and $0, respectively. The amounts due are non-interest bearing and due upon demand. These amounts have been included in the consolidated balance sheets as current assets due from related parties and current liabilities due to related parties, respectively.

 

 

   March 31, 2017  December 31, 2016
Due from related parties:        
Klaus Moeller, related party of pre-merger CAPA and beneficial interest shareholder  $78,920  $78,920
       Total due from related parties  $78,920  $78,920
         
Due to related parties:        
ICONZ Art, LLC, beneficial interest shareholder   54,238   4,213
MSN Holding Co., beneficial interest shareholder   12,947   12,947
Premier Collectibles, beneficial interest shareholder   15,085   15,085
     Total due to related parties  $82,270  $32,245

 

Credit Card Payable

 

As of March 31, 2017, and December 31, 2016, $6,150 and $30,653 , respectively, was outstanding on a personal credit card in the name of a beneficial interest shareholder of the Company – Premier Collectibles. The liability is included in accounts payable and accrued liabilities in the consolidated balance sheets.

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(End Disclosure - Related Party Transactions)
 
Disclosure - Commitments and Contingencies
Disclosure - Commitments and Contingencies (USD $) 3 Months Ended
( us-gaap:CommitmentsAndContingenciesDisclosureAbstract )  
  Mar. 31, 2017
   
   
   
Commitments and Contingencies

On March 8, 2016, the Company entered into a Listing Agreement with Royalty Network, LLC, doing business as Royalty Exchange for auction of a 50% ownership of photographic copyrights of certain celebrity archival images owned by the Company. In addition, the sale also assigns the winning bidder the right to receive 50% of the future share of income derived from the assigned images.

 

During 2016, the Company received gross proceeds of $396,000, less 12.5% auction broker fee, from five separate auctions of these rights. The Company retains all exclusive licensing authority over the images and may exercise a buyback option to buy back the 50% ownership of the rights for two times the original auction proceeds over a period ranging from 1 to 2 years. During the quarter ended March 31, 2017 and 2016, the Company paid out royalties of $4,134 and $0, respectively, to the winning bidders.

 

The Company accounted for the 50% profit consideration for the above agreement in accordance with ASC 470-10-25 and 470-10-35 which require amounts recorded as debt to be amortized under the interest method as described in ASC 835-30, Interest Method. The Company determined an effective interest rate based on future expected cash flows to be paid to the loan holders. This rate represents the discount rate that equates estimated cash flows with the initial proceeds received from the loan holders and is used to compute the amount of interest to be recognized each period. Estimating the future cash outflows under this agreement requires the Company to make certain estimates and assumptions about future revenues and such estimates are subject to significant variability. Therefore, the estimates are likely to change which may result in future adjustments to the accretion of the interest expense and the amortized cost based carrying value of the related loans.

 

Accordingly, the Company has estimated the cash flows associated with the images and determined a discount of $151,316 which is being accounted as interest expense over a 10 year estimated life of the asset based on expected future revenue streams. For the three months ended March 31, 2017, interest expense related to this loan amounted to $5,502 which has been included in interest expense in the consolidated statements of operations. During the three months ended March 31, 2017, the Company made payments of $4,134 to the loan holders. As of March 31, 2017, loans payable, net of unamortized debt discount amounted $351,186.

 

Asset purchase agreement

 

On March 3, 2017, the Company entered into an agreement to sell 20% of its ownership in certain photographic archive asset for $200,000. As part of the agreement the buyer will be reimbursed the entire purchase price over a period of 24 months from any profits generated from the related asset. If however the entire purchase price is not paid back after 24 months then all net revenues from the Company will be paid to the buyer until the full purchase price has been paid.

 

The Company accounted for the above transaction as debt and recognized the amount received as a loan payable. As of March 31, 2017, the outstanding balance of the loan amounted to $200,000.

 

License Agreements

 

Effective June 1, 2016 the Company entered into three separate non-exclusive license agreements use of licensed images and trademarks through December 31, 2019. Under the terms of the agreements, the Company is required to pay royalties of 10% on net sales. The agreements call for combined annual guaranteed minimum royalties per year of $150,000 based on combined minimum sales of $1,500,000 per year. The Company was required to pay advances related to 50% of the first year’s royalties totaling $75,000 upon execution of the agreements. The remainder of the first year’s combined minimum royalties of $75,000 was paid during the three months ended March 31, 2017.

 

Operating Lease Agreements

 

On September 6, 2012 the Company entered into a 25-month operating lease agreement for approximately 4,606 square foot warehouse and office facilities located in Las Vegas, NV. Monthly base rent due under the agreement is $3,270, plus common area maintenance fees. The agreement calls for 3% annual increase in base rental payments. On October 10, 2014, the Company entered into a First Amendment to Lease agreement extending the lease term for 60-months, beginning November 1, 2014. All other terms of the agreement remain unchanged.

 

The Company leases various corporate housing from unrelated third parties for terms that range from month-to-month to one year. The Company also rents office space on a month-to-month basis in New York at rate of $850 per month.

 

Total rent expense for three months ended March 31, 2017 and 2016 was $13,175 and $18,320, respectively, in connection with the operating lease agreements.

 

Future minimum lease payments related to the Company’s office leases as of March 31, 2017 are as follows:

 

2017   $ 31,225  
2018     44,168  
Total   $ 75,393  
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(End Disclosure - Commitments and Contingencies)
 
Disclosure - Shareholders' Equity
Disclosure - Shareholders' Equity (USD $) 3 Months Ended
( us-gaap:EquityAbstract )  
  Mar. 31, 2017
   
   
   
Shareholders' Equity

Common Stock

 

The Company is authorized to issue up to 450,000,000 shares of common stock with a par value of $0.0001. As of March 31, 2017, and December 31, 2016, there were 325,570,524 and 325,570,524 shares of common stock issued and 325,523,466 and 325,570,524 outstanding, respectively.

 

As of March 31, 2017, the Company repurchased 47,058 shares of common stock for $16,000 related to the Globe Photo Asset Purchase Agreement entered into on July 22, 2015.

 

Preferred Stock

 

The Company is authorized to issue up to 50,000,000 shares of preferred stock authorized with a par value of $0.0001. The Board of Directors is authorized, subject to any limitations prescribed by law, without further vote or action by the Company’s stockholders, to issue from time to time shares of preferred stock in one or more series. Each series of preferred stock will have such number of shares, designations, preferences, voting powers, qualifications and special or relative rights or privileges as shall be determined by the board of directors, which may include, among others, dividend rights, voting rights, liquidation preferences, and conversion rights. As of March 31, 2017, there were no shares of Preferred Stock issued and outstanding .

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(End Disclosure - Shareholders' Equity)
 
Disclosure - Significant Accounting Policies (Policies)
Disclosure - Significant Accounting Policies (Policies) (USD $) 3 Months Ended
( us-gaap:AccountingPoliciesAbstract )  
  Mar. 31, 2017
   
   
   
Basis of Presentation and Principles of Consolidation

The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. Certain information and note disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in the consolidated financial statements for the three months ended March 31, 2017 should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Form 10-K for the Company’s fiscal year ended December 31, 2016 as filed with the SEC pursuant to Rule 12(b) under the Securities Act of 1934.

 

The consolidated balance sheet as of December 31, 2016, included herein was derived from the audited financial statements as of that date, but does not include all disclosures including notes required by GAAP.

 

The accompanying unaudited consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the year ended December 31, 2017.

 

The accompanying consolidated financial statements represent the results of operations, financial position and cash flows of Capital Art, Inc., and its 100% owned subsidiary Capital Art, LLC and Globe Photos, LLC for the three months ended March 31, 2017 and 2016. All inter-company balances and transactions have been eliminated.

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Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and also requires disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

( us-gaap:UseOfEstimates )  
Inventory

The Company’s inventory is comprised of rare photos of movie stars and other famous people, and is stated at the lower of cost or net realizable value. Direct labor and raw material costs associated with the process of making the photos available for sale are also included in inventory at cost. These costs are expensed to cost of sales pro-ratably as sold.

( us-gaap:InventoryPolicyTextBlock )  
Revenue Recognition

The Company recognizes revenue related to product sales when (i) the seller’s price is substantially fixed, (ii) shipment has occurred causing the buyer to be obligated to pay for product, (iii) the buyer has economic substance apart from the seller, and (iv) there is no significant obligation for future performance to directly bring about the resale of the product by the buyer as required by ASC 605 – Revenue Recognition. Cost of sales, rebates and discounts are recorded at the time of revenue recognition or at each financial reporting date.

 

The Company’s other revenue represent payments based on net sales from brand licensees for content reproduction rights. These license agreements are held in conjunction with third parties that are responsible for collecting fees due and remitting to the Company its share after expenses. Revenue from licensed products and royalties are recognized when realized or realizable based on royalty reporting received from licensees.

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Basic and Diluted Loss per Share

The Company computes income and loss per share in accordance with ASC 260 - Earnings per Share. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the consolidated statements of operations. Basic EPS is computed by dividing net loss available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. Diluted EPS excludes all dilutive potential shares if their effect is antidilutive. During periods of net loss, all common stock equivalents are excluded from the diluted EPS calculation because they are antidilutive.

 

A reconciliation of weighted-average basic shares outstanding to weighted-average diluted shares outstanding follows:

 

   Three Months Ended March 31,
   2017  2016
Basic weighted average common shares outstanding   325,523,466    325,341,224
          
Effect of dilutive securities   —      —  
          
Diluted weighted average common and potential common shares outstanding   325,523,466    325,341,224
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Recent Accounting Pronouncements

In March 2016, the FASB issued ASU 2016-05, Derivatives and Hedging: Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships, which clarifies that a change in the counterparty to a derivative instrument that has been designated as a hedging instrument would not, in and of itself, be considered a termination of the derivative instrument, provided that all other hedge accounting criteria continue to be met. ASU 2016-05 is effective for the Company beginning on January 1, 2017. Early adoption is permitted, including in an interim period. Management evaluated ASU 2016-05 and determined the adoption of this new accounting standard did not have a material impact on the Company’s consolidated financial statements.

In March 2016, the FASB issued ASU 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments, which aims to reduce the diversity of practice in identifying embedded derivatives in debt instruments. ASU 2016-06 clarifies that the nature of an exercise contingency is not subject to the “clearly and closely” criteria for purposes of assessing whether the call or put option must be separated from the debt instrument and accounted for separately as a derivative. ASU 2016-06 is effective for the Company beginning on January 1, 2017. Management evaluated ASU 2016-06 and determined the adoption of this this new accounting standard did not have a material impact on the Company’s consolidated financial statements.

In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting. ASU 2016-09 simplifies several aspects of the accounting and presentation of share-based payment transactions, including the accounting for related income taxes consequences and certain classifications within the statement of cash flows. ASU 2016-09 is effective for the Company beginning on January 1, 2017. Management evaluated the impact of adopting ASU 2016-09 and determined the new accounting standard did not have a material impact on the Company’s consolidated financial statements.

In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). ASU 2016-15 will make eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017. The new standard will require adoption on a retrospective basis unless it is impracticable to apply, in which case it would be required to apply the amendments prospectively as of the earliest date practicable.

In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230)”, requiring that the statement of cash flows explain the change in the total cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. This guidance is effective for fiscal years, and interim reporting periods therein, beginning after December 15, 2017 with early adoption permitted. The provisions of this guidance are to be applied using a retrospective approach which requires application of the guidance for all periods presented. Management has reviewed this pronouncement and have determined that it would not have a material impact to the financial statements.

In May 2017, the FASB issued ASU 2017-09, Compensation-Stock Compensation (Topic 718), Scope of Modification Accounting. The amendments in this Update provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. The amendments in this Update are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted, including adoption in any interim period, for (1) public business entities for reporting periods for which financial statements have not yet been issued and (2) all other entities for reporting periods for which financial statements have not yet been made available for issuance. Management has reviewed this pronouncement and have determined that it would not have a material impact to the financial statements.

In July 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480), Derivatives and Hedging (Topic 815). The amendments in Part I of this Update change the classification analysis of certain equity-linked financial instruments (or embedded features) with down round features. When determining whether certain financial instruments should be classified as liabilities or equity instruments, a down round feature no longer precludes equity classification when assessing whether the instrument is indexed to an entity’s own stock. The amendments also clarify existing disclosure requirements for equity-classified instruments. As a result, a freestanding equity-linked financial instrument (or embedded conversion option) no longer would be accounted for as a derivative liability at fair value as a result of the existence of a down round feature. For freestanding equity classified financial instruments, the amendments require entities that present earnings per share (EPS) in accordance with Topic 260 to recognize the effect of the down round feature when it is triggered. That effect is treated as a dividend and as a reduction of income available to common shareholders in basic EPS. Convertible instruments with embedded conversion options that have down round features are now subject to the specialized guidance for contingent beneficial conversion features (in Subtopic 470-20, Debt—Debt with Conversion and Other Options), including related EPS guidance (in Topic 260). The amendments in Part II of this Update recharacterize the indefinite deferral of certain provisions of Topic 480 that now are presented as pending content in the Codification, to a scope exception. Those amendments do not have an accounting effect. For public business entities, the amendments in Part I of this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. For all other entities, the amendments in Part I of this Update are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted for all entities, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period.

( us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock )  
Reclassifications

Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations.

( us-gaap:Reclassifications )  
(End Disclosure - Significant Accounting Policies (Policies))
 
Disclosure - Significant Accounting Policies (Tables)
Disclosure - Significant Accounting Policies (Tables) (USD $) 3 Months Ended
( us-gaap:AccountingPoliciesAbstract )  
  Mar. 31, 2017
   
   
   
Reconciliation of weighted-average diluted shares
   Three Months Ended March 31,
   2017  2016
Basic weighted average common shares outstanding   325,523,466    325,341,224
          
Effect of dilutive securities   —      —  
          
Diluted weighted average common and potential common shares outstanding   325,523,466    325,341,224
( us-gaap:ScheduleOfWeightedAverageNumberOfSharesTableTextBlock )  
(End Disclosure - Significant Accounting Policies (Tables))
 
Disclosure - Fair Value of Financial Instruments (Tables)
Disclosure - Fair Value of Financial Instruments (Tables) (USD $) 3 Months Ended
( us-gaap:FairValueDisclosuresAbstract )  
  Mar. 31, 2017
   
   
   
Schedule of derivative fair on recurring basis

    Fair Value Measurements at March 31, 2017
          Quoted Prices in Active Markets for Identical Assets     Significant Other Observable Inputs     Significant Unobservable Inputs
    Total     (Level 1)     (Level 2)     (Level 3)
Put option derivative liability   $ 67,689     $     $     $ 67,689

 

    Fair Value Measurements at December 31, 2016
          Quoted Prices in Active Markets for Identical Assets     Significant Other Observable Inputs     Significant Unobservable Inputs
    Total     (Level 1)     (Level 2)     (Level 3)
Put option derivative liability   $ 57,922     $     $     $ 57,922
( us-gaap:FairValueAssetsMeasuredOnRecurringBasisTextBlock )  
Schedule of Level 3 Significant Inputs
    Fair Value Measurements Using Significant Unobservable Inputs
    (Level 3)
      Embedded Derivative Liability
      March 31,       December 31,
      2017       2016
Balance beginning of period   $ 57,922     $ 55,000
               
Change in fair market value of derivative liability     9,767       2,922
Balance end of period   $ 67,689     $ 57,922
( us-gaap:FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock )  
(End Disclosure - Fair Value of Financial Instruments (Tables))
 
Disclosure - Property and Equipment, Net (Tables)
Disclosure - Property and Equipment, Net (Tables) (USD $) 3 Months Ended
( us-gaap:PropertyPlantAndEquipmentAbstract )  
  Mar. 31, 2017
   
   
   
Schedule of archival images, property and equipment
    March 31, December 31,     Estimated Useful
    2017     2016     Lives
Frank Worth Collection   $ 2,770,000     $ 2,770,000     10 years
Other archival images     931,683       889,331     10 years
Leasehold improvements     12,446       12,446     7 years
Computer and other equipment     71,354       65,316     3 – 5 years
Furniture and fixtures     83,666       83,666     7 years
      3,869,149       3,820,759      
Less accumulated deprecation     (1,078,431)       (977,172 )    
Total archival images, property and equipment, net   $ 2,790,718     $ 2,843,587      
( us-gaap:PropertyPlantAndEquipmentTextBlock )  
(End Disclosure - Property and Equipment, Net (Tables))
 
Disclosure - Intangible Assets, Net (Tables)
Disclosure - Intangible Assets, Net (Tables) (USD $) 3 Months Ended
( us-gaap:GoodwillAndIntangibleAssetsDisclosureAbstract )  
  Mar. 31, 2017
   
   
   
Schedule of intangible assets
   March 31, 2017     December 31, 2016   
   Gross Carrying   Amount 

Accumulated Amortization

  Net book value  Gross Carrying   Amount 

Accumulated Amortization

  Net book value
Intangible assets with determinable lives:                             
                              
Content provider and photographic agreements  $400,000   $70,000   $330,000   $400,000   $60,000   $340,000
Copyrights   35,000    6,125    28,875    35,000    5,250    29,750
Total  $435,000   $76,125   $358,875   $435,000   $65,250   $369,750
( us-gaap:ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock )  
(End Disclosure - Intangible Assets, Net (Tables))
 
Disclosure - Related Party Transactions (Tables)
Disclosure - Related Party Transactions (Tables) (USD $) 3 Months Ended
( us-gaap:RelatedPartyTransactionsAbstract )  
  Mar. 31, 2017
   
   
   
Schedule of related party transactions
    March 31, 2017   December 31, 2016
Due from related parties:            
Klaus Moeller, related party of pre-merger CAPA and beneficial interest shareholder   $ 78,920   $ 78,920
       Total due from related parties   $ 78,920   $ 78,920
             
Due to related parties:            
ICONZ Art, LLC, beneficial interest shareholder     54,238     4,213
MSN Holding Co., beneficial interest shareholder     12,947     12,947
Premier Collectibles, beneficial interest shareholder     15,085     15,085
     Total due to related parties   $ 82,270   $ 32,245
( us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock )  
(End Disclosure - Related Party Transactions (Tables))
 
Disclosure - Commitments and Contingencies (Tables)
Disclosure - Commitments and Contingencies (Tables) (USD $) 3 Months Ended
( us-gaap:CommitmentsAndContingenciesDisclosureAbstract )  
  Mar. 31, 2017
   
   
   
Schedule of future minimum operatinng lease payments
2017   $ 31,225  
2018     44,168  
Total   $ 75,393  
( us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock )  
(End Disclosure - Commitments and Contingencies (Tables))
 
Disclosure - Organization and Business Operations (Details Narrative)
Disclosure - Organization and Business Operations (Details Narrative) (USD $) 3 Months Ended      
( us-gaap:AccountingPoliciesAbstract )        
  Mar. 31, 2017 Mar. 31, 2016 Mar. 31, 2017 Dec. 31, 2016 Dec. 31, 2015
           
           
           
Cash     16,088 54,034 32,570
( us-gaap:Cash )          
Accumulated deficit     (2,932,135)    
( us-gaap:RetainedEarningsAccumulatedDeficit )          
Net loss (257,340) (323,609)      
( us-gaap:NetIncomeLoss )          
Cash used in operations 19,751        
( custom:CashUsedInOperations [Extension] )          
(End Disclosure - Organization and Business Operations (Details Narrative))
 
Disclosure - Significant Accounting Policies (Details)
Disclosure - Significant Accounting Policies (Details) (USD $) 3 Months Ended
( us-gaap:AccountingPoliciesAbstract )  
  Mar. 31, 2017 Mar. 31, 2016
     
     
     
Basic weighted average common shares outstanding 325,523,466 313,050,616
( us-gaap:WeightedAverageNumberOfSharesOutstandingBasic )    
Effect of dilutive securities 0 0
( us-gaap:WeightedAverageNumberDilutedSharesOutstandingAdjustment )    
Diluted weighted average common and potential common shares outstanding 325,523,466 313,050,616
( us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding )    
(End Disclosure - Significant Accounting Policies (Details))
 
Disclosure - Fair Value of Financial Instruments (Details - fair value)
Disclosure - Fair Value of Financial Instruments (Details - fair value) (USD $)            
( us-gaap:FairValueDisclosuresAbstract )            
  Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Dec. 31, 2016 Dec. 31, 2016
( us-gaap:FairValueByFairValueHierarchyLevelAxis )            
  Fair Value, Measurements, Recurring [Member]
Fair Value, Inputs, Level 1 [Member]
Fair Value, Measurements, Recurring [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Fair Value, Inputs, Level 2 [Member]
  Fair Value, Measurements, Recurring [Member]
Fair Value, Inputs, Level 3 [Member]
 
( us-gaap:FairValueMeasurementsFairValueHierarchyDomain )            
Put Option Derivative Liability 0 67,689 0 67,689 57,922 57,922
( us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability )            
(End Disclosure - Fair Value of Financial Instruments (Details - fair value))
 
Disclosure - Fair Value of Financial Instruments (Details - Level 3)
Disclosure - Fair Value of Financial Instruments (Details - Level 3) (USD $) 3 Months Ended 12 Months Ended    
( us-gaap:FairValueDisclosuresAbstract )        
  Mar. 31, 2017 Dec. 31, 2016 Mar. 31, 2017 Dec. 31, 2016
( us-gaap:FairValueByFairValueHierarchyLevelAxis )        
  Fair Value, Measurements, Recurring [Member]
Fair Value, Inputs, Level 3 [Member]
  Fair Value, Measurements, Recurring [Member]
Fair Value, Inputs, Level 3 [Member]
 
( us-gaap:FairValueMeasurementsFairValueHierarchyDomain )        
Beginning balance     57,922 55,000
( custom:BeginningBalanceLevelThree [Extension] )        
Change in fair market value of derivative liability 9,767 2,922    
( us-gaap:FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings )        
Ending balance     67,689 57,922
( custom:EndingBalanceLevelThree [Extension] )        
(End Disclosure - Fair Value of Financial Instruments (Details - Level 3))
 
Disclosure - Property and Equipment (Details)
Disclosure - Property and Equipment (Details) (USD $) 3 Months Ended          
( us-gaap:PropertyPlantAndEquipmentAbstract )            
  Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017
( us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis )                    
  Leasehold Improvements [Member] Computer and other equipment [Member] Furniture and fixtures [Member] Frank Worth Collection [Member] Other archival images[Member] Frank Worth Collection [Member] Leasehold Improvements [Member] Computer and other equipment [Member] Other archival images[Member] Furniture and fixtures [Member]
( us-gaap:FiniteLivedIntangibleAssetsMajorClassNameDomain )                    
Property and equipment gross           2,770,000 12,446 71,354 931,683 83,666
( us-gaap:PropertyPlantAndEquipmentGross )                    
Less accumulated deprecation                    
( us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment )                    
Total archival images, property and equipment, net                    
( us-gaap:PropertyPlantAndEquipmentNet )                    
Estimated useful lives 7 years 3-5 years 7 years 10 years 10 years          
( us-gaap:PropertyPlantAndEquipmentEstimatedUsefulLives )                    
 
Table continued from above
 
Disclosure - Property and Equipment (Details) (USD $)              
( us-gaap:PropertyPlantAndEquipmentAbstract )              
  Mar. 31, 2017 Dec. 31, 2016 Dec. 31, 2016 Dec. 31, 2016 Dec. 31, 2016 Dec. 31, 2016 Dec. 31, 2016
( us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis )              
    Leasehold Improvements [Member] Furniture and fixtures [Member] Computer and other equipment [Member] Frank Worth Collection [Member] Other archival images[Member]  
( us-gaap:FiniteLivedIntangibleAssetsMajorClassNameDomain )              
Property and equipment gross 3,869,149 12,446 83,666 65,316 2,770,000 889,331 3,820,759
( us-gaap:PropertyPlantAndEquipmentGross )              
Less accumulated deprecation (1,078,431)           (977,172)
( us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment )              
Total archival images, property and equipment, net 2,790,718           2,843,587
( us-gaap:PropertyPlantAndEquipmentNet )              
Estimated useful lives              
( us-gaap:PropertyPlantAndEquipmentEstimatedUsefulLives )              
(End Disclosure - Property and Equipment (Details))
 
Disclosure - Property and Equipment (Details Narrative)
Disclosure - Property and Equipment (Details Narrative) (USD $) 3 Months Ended
( us-gaap:PropertyPlantAndEquipmentAbstract )  
  Mar. 31, 2017 Mar. 31, 2016
( us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis )    
     
( us-gaap:FiniteLivedIntangibleAssetsMajorClassNameDomain )    
Depreciation Expense 101,259 105,596
( us-gaap:Depreciation )    
Reported in cost of revenue 93,681 86,679
( custom:ReportedInCostOfRevenue [Extension] )    
(End Disclosure - Property and Equipment (Details Narrative))
 
Disclosure - Intangible Assets (Details)
Disclosure - Intangible Assets (Details) (USD $)            
( us-gaap:GoodwillAndIntangibleAssetsDisclosureAbstract )            
  Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Dec. 31, 2016 Dec. 31, 2016 Dec. 31, 2016
( us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis )            
  Copyrights [Member] Content provider and photographic agreements [Member]   Copyrights [Member] Content provider and photographic agreements [Member]  
( us-gaap:FiniteLivedIntangibleAssetsMajorClassNameDomain )            
Intangible assets, gross 35,000 400,000 435,000 35,000 400,000 435,000
( us-gaap:FiniteLivedIntangibleAssetsGross )            
Accumulated amortization 6,125 70,000 76,125 5,250 60,000 62,250
( us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization )            
Net Book Value 28,875 330,000 358,875 29,750 340,000 369,750
( custom:NetBookValue [Extension] )            
(End Disclosure - Intangible Assets (Details))
 
Disclosure - Intangible Assets (Details Narrative)
Disclosure - Intangible Assets (Details Narrative) (USD $) 3 Months Ended  
( us-gaap:GoodwillAndIntangibleAssetsDisclosureAbstract )    
  Mar. 31, 2017 Mar. 31, 2016 Mar. 31, 2017
( us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis )      
       
( us-gaap:FiniteLivedIntangibleAssetsMajorClassNameDomain )      
Amortization expense 10,875 10,875  
( us-gaap:AdjustmentForAmortization )      
Amortization expense due current     43,500
( us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths )      
Amortization expense year two     43,500
( us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo )      
Amortization expense year three     43,500
( us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree )      
Amortization expense year four     43,500
( us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFour )      
Amortization expense year five     43,500
( us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFive )      
(End Disclosure - Intangible Assets (Details Narrative))
 
Disclosure - Notes Payable (Details Narrative)
Disclosure - Notes Payable (Details Narrative) (USD $) 3 Months Ended  
( us-gaap:DebtDisclosureAbstract )    
  Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2016 Mar. 31, 2016 Mar. 31, 2016 Feb. 24, 2017
( us-gaap:LongtermDebtTypeAxis )                    
  Secured Promissory Note [Member] Secured Promissory Note Two [Member] Related Party Advances [Member] SecuredDebtFourMember Secured Promissory Note Three [Member] Unsecured Debt [Member] Secured Promissory Note [Member] Unsecured Debt [Member] Related Party Advances [Member] Secured Promissory Note Four [Member]
( us-gaap:LongtermDebtTypeDomain )                    
Debt face amount                   25,000
( us-gaap:DebtInstrumentFaceAmount )                    
Proceeds from note payable 120,000 62,500 75,000 25,000   150,000        
( us-gaap:ProceedsFromUnsecuredNotesPayable )                    
Debt maturity date 2017-12-31 2017-12-31     2017-12-31 2017-07-31        
( us-gaap:DebtInstrumentMaturityDate )                    
Debt interest rate                    
( us-gaap:DebtInstrumentInterestRateStatedPercentage )                    
Interest expense 4,563   1,125 2,000 3,358 3,750 3,563 3,750 0  
( us-gaap:InterestExpenseDebt )                    
Accrued interest                    
( us-gaap:InterestPayableCurrent )                    
Repayment amount       27,000            
( custom:RepaymentAmount [Extension] )                    
Photographs securing note 200,000         240,000        
( custom:PhotgraphsSecuringNote [Extension] )                    
Default Interest Rate                    
( custom:DefaultInterestRate [Extension] )                    
First Tranche Received                    
( custom:FirstTranche [Extension] )                    
Remaining Proceeds Reveived Date   2016-04-05                
( custom:RemainingProceedsReceivedDate [Extension] )                    
Remaining Proceeds Received   40,000                
( custom:RemainingProceedsReceived [Extension] )                    
Advance from Related Party original discount     25,000              
( custom:AdvancedToRelatedParty [Extension] )                    
Discount Amortized     12,466              
( custom:AmortizedDiscount [Extension] )                    
Net of Unamortized Discount     699              
( custom:NetOfUnamortizedDiscount [Extension] )                    
Gauranteed Total of Repayment     100,000              
( custom:GauranteedTotalRepayment [Extension] )                    
Outstanding Balnce of Related Party Advance     100,000              
( custom:OutstandingBalanceDueRelatedParty [Extension] )                    
 
Table continued from above
 
Disclosure - Notes Payable (Details Narrative) (USD $)                    
( us-gaap:DebtDisclosureAbstract )                    
  Dec. 31, 2016 Dec. 31, 2016 Dec. 2, 2016 Oct. 3, 2016 Apr. 15, 2016 Apr. 7, 2016 Apr. 4, 2016 Apr. 1, 2016 Feb. 15, 2016 Dec. 31, 2015
( us-gaap:LongtermDebtTypeAxis )                    
  Secured Promissory Note [Member] Unsecured Debt [Member] Sean Goodchild 3 [Member] Sean Goodchild 2 [Member] Sean Goodchild [Member] RelatedPartyAdvancesThreeMember Premier Collectibles [Member] SecuredPromissoryNoteThreeMember Secured Promissory Note Two [Member] Unsecured Debt [Member]
( us-gaap:LongtermDebtTypeDomain )                    
Debt face amount           75,000   75,000 62,500  
( us-gaap:DebtInstrumentFaceAmount )                    
Proceeds from note payable                    
( us-gaap:ProceedsFromUnsecuredNotesPayable )                    
Debt maturity date                    
( us-gaap:DebtInstrumentMaturityDate )                    
Debt interest rate     0.06 0.06 0.06   0.08 0.06 0.10  
( us-gaap:DebtInstrumentInterestRateStatedPercentage )                    
Interest expense                    
( us-gaap:InterestExpenseDebt )                    
Accrued interest 12,665 11,404               154
( us-gaap:InterestPayableCurrent )                    
Repayment amount                    
( custom:RepaymentAmount [Extension] )                    
Photographs securing note                    
( custom:PhotgraphsSecuringNote [Extension] )                    
Default Interest Rate                    
( custom:DefaultInterestRate [Extension] )                    
First Tranche Received                    
( custom:FirstTranche [Extension] )                    
Remaining Proceeds Reveived Date                    
( custom:RemainingProceedsReceivedDate [Extension] )                    
Remaining Proceeds Received                    
( custom:RemainingProceedsReceived [Extension] )                    
Advance from Related Party original discount                    
( custom:AdvancedToRelatedParty [Extension] )                    
Discount Amortized                    
( custom:AmortizedDiscount [Extension] )                    
Net of Unamortized Discount                    
( custom:NetOfUnamortizedDiscount [Extension] )                    
Gauranteed Total of Repayment                    
( custom:GauranteedTotalRepayment [Extension] )                    
Outstanding Balnce of Related Party Advance                    
( custom:OutstandingBalanceDueRelatedParty [Extension] )                    
 
Table continued from above
 
Disclosure - Notes Payable (Details Narrative) (USD $)    
( us-gaap:DebtDisclosureAbstract )    
  Dec. 31, 2015 Sep. 28, 2015
( us-gaap:LongtermDebtTypeAxis )    
  Secured Promissory Note [Member] Unsecured Debt [Member]
( us-gaap:LongtermDebtTypeDomain )    
Debt face amount 120,000 150,000
( us-gaap:DebtInstrumentFaceAmount )    
Proceeds from note payable    
( us-gaap:ProceedsFromUnsecuredNotesPayable )    
Debt maturity date    
( us-gaap:DebtInstrumentMaturityDate )    
Debt interest rate 0.10 0.10
( us-gaap:DebtInstrumentInterestRateStatedPercentage )    
Interest expense    
( us-gaap:InterestExpenseDebt )    
Accrued interest 655  
( us-gaap:InterestPayableCurrent )    
Repayment amount    
( custom:RepaymentAmount [Extension] )    
Photographs securing note    
( custom:PhotgraphsSecuringNote [Extension] )    
Default Interest Rate   0.25
( custom:DefaultInterestRate [Extension] )    
First Tranche Received    
( custom:FirstTranche [Extension] )    
Remaining Proceeds Reveived Date    
( custom:RemainingProceedsReceivedDate [Extension] )    
Remaining Proceeds Received    
( custom:RemainingProceedsReceived [Extension] )    
Advance from Related Party original discount    
( custom:AdvancedToRelatedParty [Extension] )    
Discount Amortized    
( custom:AmortizedDiscount [Extension] )    
Net of Unamortized Discount    
( custom:NetOfUnamortizedDiscount [Extension] )    
Gauranteed Total of Repayment    
( custom:GauranteedTotalRepayment [Extension] )    
Outstanding Balnce of Related Party Advance    
( custom:OutstandingBalanceDueRelatedParty [Extension] )    
(End Disclosure - Notes Payable (Details Narrative))
 
Disclosure - Related Party Transactions (Details)
Disclosure - Related Party Transactions (Details) (USD $)                    
( custom:RelatedPartyTransactionsDetailsAbstract [Extension] )                    
  Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Dec. 31, 2016 Dec. 31, 2016 Dec. 31, 2016 Dec. 31, 2016 Dec. 31, 2016
( us-gaap:RelatedPartyTransactionsByRelatedPartyAxis )                    
  Klaus Moeller [Member] ICONZ Art, LLC. [Member] Premier Collectibles [Member] MSN Holding Co. [Member]   MSN Holding Co. [Member] Premier Collectibles [Member] Klaus Moeller [Member] ICONZ Art, LLC. [Member]  
( us-gaap:RelatedPartyDomain )                    
Due from related parties 78,920             78,920    
( us-gaap:DueFromRelatedPartiesCurrent )                    
Due to related parties   54,238 15,085 12,947 82,270 12,947 15,085   4,213 32,245
( us-gaap:DueToRelatedPartiesCurrent )                    
Totals Due from Related Parties         78,920         78,920
( custom:TotalsDueToRelatedPartiesOne [Extension] )                    
Totals Due to Related Parties         82,270         32,245
( custom:TotalsDueToRelatedPartiesTwo [Extension] )                    
(End Disclosure - Related Party Transactions (Details))
 
Disclosure - Related Party Transactions(Details Narrative)
Disclosure - Related Party Transactions(Details Narrative) (USD $) 3 Months Ended
( custom:NotesPayableToRelatedPartiesDetailsNarrativeAbstract [Extension] )  
  Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017
( us-gaap:LongtermDebtTypeAxis )                    
  Secured Promissory Note Two [Member] SecuredDebtFourMember Dino Satallante [Member] Dino Satallante [Member]
Unsecured Debt [Member]
Dino Satallante [Member]
Unsecured Debt -2 [Member]
Dreamstar [Member]
Unsecured Debt -2 [Member]
Premier Collectibles [Member] Sean Goodchild [Member] Sean Goodchild 2 [Member] Sean Goodchild 3 [Member]
( us-gaap:LongtermDebtTypeDomain )                    
Proceeds from related party     160,000 100,000 20,500 20,500 65,000 50,000 50,000 31,500
( us-gaap:ProceedsFromRelatedPartyDebt )                    
Utilazation of Debt     80,000              
( custom:UtilizationOfDebt [Extension] )                    
Repayment of related party debt       3,830            
( us-gaap:RepaymentsOfRelatedPartyDebt )                    
Debt Effective Date     2015-07-21 2013-08-01 2014-09-11 2014-09-11 2016-04-04 2016-04-15 2016-10-03 2016-12-02
( custom:DebtEffectiveDate [Extension] )                    
Debt maturity date 2017-12-31   2017-12-31 2017-12-31 2017-12-31 2017-12-31 2017-06-30 2017-12-15 2017-12-31 2017-12-31
( us-gaap:DebtInstrumentMaturityDate )                    
Debt interest rate                    
( us-gaap:DebtInstrumentInterestRateStatedPercentage )                    
Interest expense   2,000 3,750 904 579 579 1,300 745 750 473
( us-gaap:InterestExpenseDebt )                    
Amortization of loan fees     4,424              
( us-gaap:AmortizationOfFinancingCosts )                    
Amortization of Loan fees after extension                    
( custom:AmortizationOfLoanFeesAfterExtension [Extension] )                    
Net of Unamortized loan fees     0              
( custom:NetOfUnamortizedLoanFees [Extension] )                    
Debt loan fees                    
( us-gaap:DeferredFinanceCostsGross )                    
Note payable related party                    
( us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent )                    
Interest payable                    
( us-gaap:InterestPayableCurrentAndNoncurrent )                    
Otstanding Debt Due       72,354 20,500 20,500        
( custom:OutstandingDebtDue [Extension] )                    
 
Table continued from above
 
Disclosure - Related Party Transactions(Details Narrative) (USD $) 12 Months Ended
( custom:NotesPayableToRelatedPartiesDetailsNarrativeAbstract [Extension] )  
  Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2016 Mar. 31, 2016 Mar. 31, 2016 Dec. 31, 2015 Dec. 31, 2015 Dec. 31, 2015
( us-gaap:LongtermDebtTypeAxis )                    
  Secured Promissory Note [Member] Secured Promissory Note Three [Member] Related Party Advances [Member]   Related Party Advances [Member] Secured Promissory Note [Member]   Dino Satallante [Member]
Unsecured Debt -2 [Member]
Dino Satallante [Member]
Unsecured Debt [Member]
Dreamstar [Member]
Unsecured Debt -2 [Member]
( us-gaap:LongtermDebtTypeDomain )                    
Proceeds from related party           14,000      
( us-gaap:ProceedsFromRelatedPartyDebt )                    
Utilazation of Debt                    
( custom:UtilizationOfDebt [Extension] )                    
Repayment of related party debt       3,830     3,740      
( us-gaap:RepaymentsOfRelatedPartyDebt )                    
Debt Effective Date                    
( custom:DebtEffectiveDate [Extension] )                    
Debt maturity date 2017-12-31 2017-12-31                
( us-gaap:DebtInstrumentMaturityDate )                    
Debt interest rate                    
( us-gaap:DebtInstrumentInterestRateStatedPercentage )                    
Interest expense 4,563 3,358 1,125   0 3,563   619   579
( us-gaap:InterestExpenseDebt )                    
Amortization of loan fees                    
( us-gaap:AmortizationOfFinancingCosts )                    
Amortization of Loan fees after extension                    
( custom:AmortizationOfLoanFeesAfterExtension [Extension] )                    
Net of Unamortized loan fees                    
( custom:NetOfUnamortizedLoanFees [Extension] )                    
Debt loan fees                    
( us-gaap:DeferredFinanceCostsGross )                    
Note payable related party                    
( us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent )                    
Interest payable                    
( us-gaap:InterestPayableCurrentAndNoncurrent )                    
Otstanding Debt Due                 76,183 18,100
( custom:OutstandingDebtDue [Extension] )                    
 
Table continued from above
 
Disclosure - Related Party Transactions(Details Narrative) (USD $)              
( custom:NotesPayableToRelatedPartiesDetailsNarrativeAbstract [Extension] )              
  Dec. 31, 2016 Dec. 31, 2016 Dec. 31, 2016 Mar. 31, 2017 Dec. 31, 2016 Dec. 31, 2016 Dec. 31, 2016 Dec. 31, 2016 Dec. 31, 2016 Dec. 2, 2016
( us-gaap:LongtermDebtTypeAxis )                    
  Dino Satallante [Member] Dino Satallante [Member]
Unsecured Debt [Member]
Dino Satallante [Member]
Unsecured Debt -2 [Member]
Dino Satallante [Member] Dino Satallante [Member]
Unsecured Debt [Member]
Dino Satallante [Member]
Unsecured Debt -2 [Member]
Dreamstar [Member]
Unsecured Debt -2 [Member]
Dino Satallante [Member] UnsecuredDebtAllMember Sean Goodchild 3 [Member]
( us-gaap:LongtermDebtTypeDomain )                    
Proceeds from related party                    
( us-gaap:ProceedsFromRelatedPartyDebt )                    
Utilazation of Debt                    
( custom:UtilizationOfDebt [Extension] )                    
Repayment of related party debt                    
( us-gaap:RepaymentsOfRelatedPartyDebt )                    
Debt Effective Date                    
( custom:DebtEffectiveDate [Extension] )                    
Debt maturity date                    
( us-gaap:DebtInstrumentMaturityDate )                    
Debt interest rate         0.05 0.06 0.06 0.12   0.06
( us-gaap:DebtInstrumentInterestRateStatedPercentage )                    
Interest expense 4,800 1,260 579              
( us-gaap:InterestExpenseDebt )                    
Amortization of loan fees 3,576                  
( us-gaap:AmortizationOfFinancingCosts )                    
Amortization of Loan fees after extension                    
( custom:AmortizationOfLoanFeesAfterExtension [Extension] )                    
Net of Unamortized loan fees 2,001                  
( custom:NetOfUnamortizedLoanFees [Extension] )                    
Debt loan fees       8,000       8,000    
( us-gaap:DeferredFinanceCostsGross )                    
Note payable related party           20,500 18,100      
( us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent )                    
Interest payable                 12,379  
( us-gaap:InterestPayableCurrentAndNoncurrent )                    
Otstanding Debt Due   76,183 18,100              
( custom:OutstandingDebtDue [Extension] )                    
 
Table continued from above
 
Disclosure - Related Party Transactions(Details Narrative) (USD $)              
( custom:NotesPayableToRelatedPartiesDetailsNarrativeAbstract [Extension] )              
  Oct. 3, 2016 Apr. 15, 2016 Apr. 4, 2016 Feb. 15, 2016 Dec. 31, 2015 Dec. 31, 2015 Dec. 31, 2015
( us-gaap:LongtermDebtTypeAxis )              
  Sean Goodchild 2 [Member] Sean Goodchild [Member] Premier Collectibles [Member] Secured Promissory Note Two [Member] Dino Satallante [Member]
Unsecured Debt [Member]
Secured Promissory Note [Member] UnsecuredDebtAllMember
( us-gaap:LongtermDebtTypeDomain )              
Proceeds from related party              
( us-gaap:ProceedsFromRelatedPartyDebt )              
Utilazation of Debt              
( custom:UtilizationOfDebt [Extension] )              
Repayment of related party debt              
( us-gaap:RepaymentsOfRelatedPartyDebt )              
Debt Effective Date              
( custom:DebtEffectiveDate [Extension] )              
Debt maturity date              
( us-gaap:DebtInstrumentMaturityDate )              
Debt interest rate 0.06 0.06 0.08 0.10   0.10  
( us-gaap:DebtInstrumentInterestRateStatedPercentage )              
Interest expense              
( us-gaap:InterestExpenseDebt )              
Amortization of loan fees              
( us-gaap:AmortizationOfFinancingCosts )              
Amortization of Loan fees after extension              
( custom:AmortizationOfLoanFeesAfterExtension [Extension] )              
Net of Unamortized loan fees              
( custom:NetOfUnamortizedLoanFees [Extension] )              
Debt loan fees              
( us-gaap:DeferredFinanceCostsGross )              
Note payable related party         91,143    
( us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent )              
Interest payable             9,332
( us-gaap:InterestPayableCurrentAndNoncurrent )              
Otstanding Debt Due              
( custom:OutstandingDebtDue [Extension] )              
(End Disclosure - Related Party Transactions(Details Narrative))
 
Disclosure - Related Party Transactions (Due From Details Narrative)
Disclosure - Related Party Transactions (Due From Details Narrative) (USD $) 3 Months Ended    
( custom:RelatedPartyTransactionsDetailsAbstract [Extension] )      
  Mar. 31, 2017 Mar. 31, 2016 Mar. 31, 2017 Dec. 31, 2016
( us-gaap:RelatedPartyTransactionsByRelatedPartyAxis )        
         
( us-gaap:RelatedPartyDomain )        
Repayments on Advances 250 0    
( custom:RepaymentsOnAdvances [Extension] )        
Advances 50,275 17,000    
( custom:AdvancesReceived [Extension] )        
Cerdit Card Debt Outstanding     6,150 30,653
( custom:CreditCard [Extension] )        
(End Disclosure - Related Party Transactions (Due From Details Narrative))
 
Disclosure - Commitments and Contingencies (Details)
Disclosure - Commitments and Contingencies (Details) (USD $)  
( us-gaap:CommitmentsAndContingenciesDisclosureAbstract )  
  Mar. 31, 2017
   
   
   
Future minimum operating lease payment, 2017 31,225
( us-gaap:OperatingLeasesFutureMinimumPaymentsDueInTwoYears )  
Future minimum operating lease payment, 2018 44,168
( us-gaap:OperatingLeasesFutureMinimumPaymentsDueInThreeYears )  
Future minimum operating lease payment, total 75,393
( us-gaap:OperatingLeasesFutureMinimumPaymentsDue )  
(End Disclosure - Commitments and Contingencies (Details))
 
Disclosure - Commitments and Contingencies (Details Narrative)
Disclosure - Commitments and Contingencies (Details Narrative) (USD $) 3 Months Ended 12 Months Ended          
( us-gaap:CommitmentsAndContingenciesDisclosureAbstract )              
  Mar. 31, 2017 Mar. 31, 2017 Mar. 31, 2016 Dec. 30, 2015 Dec. 31, 2015 Mar. 31, 2017 Mar. 3, 2017 Jun. 1, 2016 Mar. 8, 2016 Dec. 31, 2015
( us-gaap:OtherCommitmentsAxis )                    
  Royalty Network, LLC       Royalty Network, LLC     Non-Exclusive License Agreements Royalty Network, LLC  
( us-gaap:OtherCommitmentsDomain )                    
Lease Agreement Rent   3,270                
( custom:LeaseAgreementRent [Extension] )                    
Date of Agreement   2012-09-06                
( custom:DateOfAgreement [Extension] )                    
Term of Lease Agreement   P25M                
( custom:TermOfAgreement [Extension] )                    
Term of Extension of Lease   P60M                
( custom:TermOfExtensionOfLease [Extension] )                    
Date of Extension of Lease   2014-11-01                
( custom:DateOfExtensionOfLease [Extension] )                    
Square Footage   4,606                
( custom:SquareFottage [Extension] )                    
Annual Increase in base payments   0.03                
( custom:AnnualInreaseInBasePayments [Extension] )                    
Rent expense   13,175 18,320 59,680            
( us-gaap:LeaseAndRentalExpense )                    
Previous Office Space Rent   850                
( custom:PreviousOfficeSpaceRent [Extension] )                    
Date of Terminiation of Previous Office   2016-06-01                
( custom:DateOfTerminationOfPreviousOffice [Extension] )                    
Commitment of Common Stock to Consultant                    
( custom:CommitmentOfCommonStockToConsultant [Extension] )                    
Fair Value of Common Stock per share   0.05                
( custom:FairValueOfCommonStockPerShare [Extension] )                    
Fair Value of Common Stock                   104,167
( custom:FairValueOfCommonStock [Extension] )                    
Gross Federal Net Operating Loss   2,655,512   1,939,000            
( custom:GrossFederalNetOperatingLoss [Extension] )                    
Percent ownership of images                 0.5  
( custom:PercentOwnershipOfImages [Extension] )                    
Royalties Paid to Winning Bidders 11,128 4,134 0   0          
( custom:RoyaltiesPaidToWinningBidders [Extension] )                    
Gross Proceeds   11,019                
( custom:GrossProceeds [Extension] )                    
Auction Broker Fee   0.125                
( custom:AuctionBrokerFee [Extension] )                    
Auction buy back option   0.50                
( custom:AuctionBuyBackOption [Extension] )                    
Total Auction Proceeds     396,000              
( custom:TotalAuctionProceeds [Extension] )                    
Royalties to pay on net sales               0.10    
( custom:RoyaltiesToPayOnNetSales [Extension] )                    
Miniumum Royalties per year               150,000    
( custom:RoyaltiesPerYear [Extension] )                    
Minimum Sales per year               1,500,000    
( custom:MinimumSalesPerYear [Extension] )                    
Advance Royalties Percentage               0.50    
( custom:AdvanceRoyaltiesPercentage [Extension] )                    
Adavnce Royalties First Year               75,000    
( custom:AdvanceRoyaltiesFirstYear [Extension] )                    
Net Proceeds received     396,000              
( custom:NetProceedsReceived [Extension] )                    
Payments made to loan holders   4,134 0              
( custom:PaymentMadeToLoanHolders [Extension] )                    
Loans Payable net of unamortized discount           351,186        
( custom:LoansPayableNetOfUnamortizedDiscount [Extension] )                    
Interest Expense   5,502                
( custom:InterestExpenseDiscount [Extension] )                    
Discount           151,316        
( us-gaap:DebtInstrumentUnamortizedDiscountCurrent )                    
Photraphic Archive sold amount             200,000      
( custom:PhotgrawphicArchiveSold [Extension] )                    
Photgraphic Archive sold term   P24M                
( custom:PhotgraphicSoldTerm [Extension] )                    
Percent of ownership sold             0.20      
( custom:PercentOfOwnershipSold [Extension] )                    
(End Disclosure - Commitments and Contingencies (Details Narrative))
 
Disclosure - Shareholders' Equity (Details Narrative)
Disclosure - Shareholders' Equity (Details Narrative) (USD $) 3 Months Ended    
( us-gaap:EquityAbstract )      
  Mar. 31, 2017 Mar. 31, 2017 Dec. 31, 2016
( us-gaap:CounterpartyNameAxis )      
       
( us-gaap:RepurchaseAgreementCounterpartyNameDomain )      
Authorized Preferred Stock, Shares 50,000    
( custom:AuthorizedPreferredStockShares [Extension] )      
Authorized Preferred Stock, Par Value 0.0001    
( custom:AuthorizedPreferredStockParValue [Extension] )      
Preferred Stock Outstanding 0    
( custom:PreferredStockOutstanding [Extension] )      
Common Stock Authorized to issue 450,000,000    
( custom:CommonStockAuthorized [Extension] )      
Par Value of Common Stock 0.0001    
( custom:ParValueCommon [Extension] )      
Common Stock Issued   325,570,524 325,570,524
( custom:CommonStockIssued [Extension] )      
Common Stock Outstanding   325,523,466 325,570,524
( custom:CommonStockOutstanding [Extension] )      
Shares of Common Stock Repurchased   47,058  
( custom:SharesOFCommonStockRepurchased [Extension] )      
Shares of Common Stock Repurchased, value   16,000  
( custom:SharesOfCommonStockRepurchasedValue [Extension] )      
(End Disclosure - Shareholders' Equity (Details Narrative))
Contexts
ID Period CIK Dimensions
From2017-01-01to2017-03-31 2017-01-01 - 2017-03-31 0001527844  
AsOf2018-01-04 2018-01-04 0001527844  
AsOf2017-03-31 2017-03-31 0001527844  
AsOf2016-12-31 2016-12-31 0001527844  
AsOf2015-12-31 2015-12-31 0001527844  
AsOf2017-03-31_custom_MSNHoldingMember 2017-03-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:MSNHoldingMember
AsOf2017-03-31_custom_PremierCollectiblesMember 2017-03-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:PremierCollectiblesMember
AsOf2016-12-31_custom_MSNHoldingMember 2016-12-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:MSNHoldingMember
AsOf2016-12-31_custom_PremierCollectiblesMember 2016-12-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:PremierCollectiblesMember
AsOf2017-03-31_custom_ICONZArtMember 2017-03-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:ICONZArtMember
AsOf2016-12-31_custom_ICONZArtMember 2016-12-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:ICONZArtMember
AsOf2017-03-31_us-gaap_FairValueMeasurementsRecurringMember_us-gaap_FairValueInputsLevel3Member 2017-03-31 0001527844 us-gaap:FairValueByMeasurementFrequencyAxis: us-gaap:FairValueMeasurementsRecurringMember
us-gaap:FairValueByFairValueHierarchyLevelAxis: us-gaap:FairValueInputsLevel3Member
AsOf2017-03-31_us-gaap_FairValueMeasurementsRecurringMember_us-gaap_FairValueInputsLevel2Member 2017-03-31 0001527844 us-gaap:FairValueByMeasurementFrequencyAxis: us-gaap:FairValueMeasurementsRecurringMember
us-gaap:FairValueByFairValueHierarchyLevelAxis: us-gaap:FairValueInputsLevel2Member
AsOf2017-03-31_us-gaap_FairValueMeasurementsRecurringMember_us-gaap_FairValueInputsLevel1Member 2017-03-31 0001527844 us-gaap:FairValueByMeasurementFrequencyAxis: us-gaap:FairValueMeasurementsRecurringMember
us-gaap:FairValueByFairValueHierarchyLevelAxis: us-gaap:FairValueInputsLevel1Member
AsOf2016-12-31_us-gaap_FairValueMeasurementsRecurringMember_us-gaap_FairValueInputsLevel3Member 2016-12-31 0001527844 us-gaap:FairValueByMeasurementFrequencyAxis: us-gaap:FairValueMeasurementsRecurringMember
us-gaap:FairValueByFairValueHierarchyLevelAxis: us-gaap:FairValueInputsLevel3Member
From2016-01-01to2016-03-31 2016-01-01 - 2016-03-31 0001527844  
From2017-01-01to2017-03-31_custom_SatallanteMember 2017-01-01 - 2017-03-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SatallanteMember
From2017-01-01to2017-03-31_custom_SatallanteMember_us-gaap_UnsecuredDebtMember 2017-01-01 - 2017-03-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SatallanteMember
us-gaap:LongtermDebtTypeAxis: us-gaap:UnsecuredDebtMember
From2017-01-01to2017-03-31_custom_SatallanteMember_custom_UnsecuredDebt2Member 2017-01-01 - 2017-03-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SatallanteMember
us-gaap:LongtermDebtTypeAxis: custom:UnsecuredDebt2Member
From2017-01-01to2017-03-31_custom_DreamstarMember_custom_UnsecuredDebt2Member 2017-01-01 - 2017-03-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DreamstarMember
us-gaap:LongtermDebtTypeAxis: custom:UnsecuredDebt2Member
From2017-01-01to2017-03-31_custom_PremierCollectiblesMember 2017-01-01 - 2017-03-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:PremierCollectiblesMember
From2017-01-01to2017-03-31_custom_SeanGoodchildMember 2017-01-01 - 2017-03-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SeanGoodchildMember
From2017-01-01to2017-03-31_custom_SeanGoodchild2Member 2017-01-01 - 2017-03-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SeanGoodchild2Member
From2017-01-01to2017-03-31_custom_SeanGoodchild3Member 2017-01-01 - 2017-03-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SeanGoodchild3Member
From2017-01-01to2017-03-31_us-gaap_FairValueMeasurementsRecurringMember_us-gaap_FairValueInputsLevel3Member 2017-01-01 - 2017-03-31 0001527844 us-gaap:FairValueByMeasurementFrequencyAxis: us-gaap:FairValueMeasurementsRecurringMember
us-gaap:FairValueByFairValueHierarchyLevelAxis: us-gaap:FairValueInputsLevel3Member
From2016-01-01to2016-12-31 2016-01-01 - 2016-12-31 0001527844  
AsOf2016-12-31_us-gaap_FurnitureAndFixturesMember 2016-12-31 0001527844 us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:FurnitureAndFixturesMember
AsOf2016-12-31_us-gaap_ComputerEquipmentMember 2016-12-31 0001527844 us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:ComputerEquipmentMember
AsOf2016-12-31_us-gaap_LeaseholdImprovementsMember 2016-12-31 0001527844 us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:LeaseholdImprovementsMember
AsOf2016-12-31_custom_OtherArchivalImagesMember 2016-12-31 0001527844 us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis: custom:OtherArchivalImagesMember
AsOf2016-12-31_custom_FrankWorthCollectionMember 2016-12-31 0001527844 us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis: custom:FrankWorthCollectionMember
AsOf2017-03-31_us-gaap_FurnitureAndFixturesMember 2017-03-31 0001527844 us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:FurnitureAndFixturesMember
AsOf2017-03-31_us-gaap_ComputerEquipmentMember 2017-03-31 0001527844 us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:ComputerEquipmentMember
AsOf2017-03-31_us-gaap_LeaseholdImprovementsMember 2017-03-31 0001527844 us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:LeaseholdImprovementsMember
AsOf2017-03-31_custom_FrankWorthCollectionMember 2017-03-31 0001527844 us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis: custom:FrankWorthCollectionMember
AsOf2017-03-31_custom_OtherArchivalImagesMember 2017-03-31 0001527844 us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis: custom:OtherArchivalImagesMember
From2017-01-01to2017-03-31_custom_OtherArchivalImagesMember 2017-01-01 - 2017-03-31 0001527844 us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis: custom:OtherArchivalImagesMember
From2017-01-01to2017-03-31_us-gaap_LeaseholdImprovementsMember 2017-01-01 - 2017-03-31 0001527844 us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:LeaseholdImprovementsMember
From2017-01-01to2017-03-31_us-gaap_ComputerEquipmentMember 2017-01-01 - 2017-03-31 0001527844 us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:ComputerEquipmentMember
From2017-01-01to2017-03-31_us-gaap_FurnitureAndFixturesMember 2017-01-01 - 2017-03-31 0001527844 us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:FurnitureAndFixturesMember
From2017-01-01to2017-03-31_custom_FrankWorthCollectionMember 2017-01-01 - 2017-03-31 0001527844 us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis: custom:FrankWorthCollectionMember
AsOf2016-12-31_custom_ContentProviderMember 2016-12-31 0001527844 us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis: custom:ContentProviderMember
AsOf2016-12-31_us-gaap_CopyrightsMember 2016-12-31 0001527844 us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis: us-gaap:CopyrightsMember
AsOf2017-03-31_custom_ContentProviderMember 2017-03-31 0001527844 us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis: custom:ContentProviderMember
AsOf2017-03-31_us-gaap_CopyrightsMember 2017-03-31 0001527844 us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis: us-gaap:CopyrightsMember
AsOf2015-09-28_us-gaap_UnsecuredDebtMember 2015-09-28 0001527844 us-gaap:ShortTermDebtTypeAxis: us-gaap:UnsecuredDebtMember
AsOf2015-12-31_us-gaap_SecuredDebtMember 2015-12-31 0001527844 us-gaap:LongtermDebtTypeAxis: us-gaap:SecuredDebtMember
AsOf2016-04-01_custom_SecuredPromissoryNoteThreeMember 2016-04-01 0001527844 us-gaap:ShortTermDebtTypeAxis: custom:SecuredPromissoryNoteThreeMember
AsOf2016-04-07_custom_RelatedPartyAdvancesThreeMember 2016-04-07 0001527844 us-gaap:ShortTermDebtTypeAxis: custom:RelatedPartyAdvancesThreeMember
AsOf2016-02-15_custom_SecuredDebtTwoMember 2016-02-15 0001527844 us-gaap:LongtermDebtTypeAxis: custom:SecuredDebtTwoMember
AsOf2017-02-24_custom_SecuredPromissoryNoteFourMember 2017-02-24 0001527844 us-gaap:ShortTermDebtTypeAxis: custom:SecuredPromissoryNoteFourMember
From2017-01-01to2017-03-31_us-gaap_UnsecuredDebtMember 2017-01-01 - 2017-03-31 0001527844 us-gaap:ShortTermDebtTypeAxis: us-gaap:UnsecuredDebtMember
From2017-01-01to2017-03-31_us-gaap_SecuredDebtMember 2017-01-01 - 2017-03-31 0001527844 us-gaap:LongtermDebtTypeAxis: us-gaap:SecuredDebtMember
From2017-01-01to2017-03-31_custom_SecuredDebtTwoMember 2017-01-01 - 2017-03-31 0001527844 us-gaap:LongtermDebtTypeAxis: custom:SecuredDebtTwoMember
From2017-01-01to2017-03-31_custom_RelatedPartyAdvancesMember 2017-01-01 - 2017-03-31 0001527844 us-gaap:LongtermDebtTypeAxis: custom:RelatedPartyAdvancesMember
From2017-01-01to2017-03-31_custom_SecuredDebtFourMember 2017-01-01 - 2017-03-31 0001527844 us-gaap:LongtermDebtTypeAxis: custom:SecuredDebtFourMember
From2017-01-01to2017-03-31_custom_SecuredDebtThreeMember 2017-01-01 - 2017-03-31 0001527844 us-gaap:LongtermDebtTypeAxis: custom:SecuredDebtThreeMember
AsOf2016-04-04_custom_PremierCollectiblesMember 2016-04-04 0001527844 us-gaap:LongtermDebtTypeAxis: custom:PremierCollectiblesMember
AsOf2016-04-15_custom_SeanGoodchildMember 2016-04-15 0001527844 us-gaap:LongtermDebtTypeAxis: custom:SeanGoodchildMember
AsOf2016-10-03_custom_SeanGoodchild2Member 2016-10-03 0001527844 us-gaap:LongtermDebtTypeAxis: custom:SeanGoodchild2Member
AsOf2016-12-02_custom_SeanGoodchild3Member 2016-12-02 0001527844 us-gaap:LongtermDebtTypeAxis: custom:SeanGoodchild3Member
AsOf2016-12-31_custom_SatallanteMember 2016-12-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SatallanteMember
AsOf2016-12-31_custom_SatallanteMember_us-gaap_UnsecuredDebtMember 2016-12-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SatallanteMember
us-gaap:LongtermDebtTypeAxis: us-gaap:UnsecuredDebtMember
AsOf2016-12-31_custom_DreamstarMember_custom_UnsecuredDebt2Member 2016-12-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DreamstarMember
us-gaap:LongtermDebtTypeAxis: custom:UnsecuredDebt2Member
AsOf2016-12-31_custom_SatallanteMember_custom_UnsecuredDebt2Member 2016-12-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SatallanteMember
us-gaap:LongtermDebtTypeAxis: custom:UnsecuredDebt2Member
From2016-01-01to2016-03-31_us-gaap_SecuredDebtMember 2016-01-01 - 2016-03-31 0001527844 us-gaap:LongtermDebtTypeAxis: us-gaap:SecuredDebtMember
From2016-01-01to2016-03-31_us-gaap_UnsecuredDebtMember 2016-01-01 - 2016-03-31 0001527844 us-gaap:ShortTermDebtTypeAxis: us-gaap:UnsecuredDebtMember
From2016-01-01to2016-03-31_custom_RelatedPartyAdvancesMember 2016-01-01 - 2016-03-31 0001527844 us-gaap:LongtermDebtTypeAxis: custom:RelatedPartyAdvancesMember
From2016-01-01to2016-12-31_custom_SatallanteMember 2016-01-01 - 2016-12-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SatallanteMember
From2016-01-01to2016-12-31_custom_SatallanteMember_us-gaap_UnsecuredDebtMember 2016-01-01 - 2016-12-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SatallanteMember
us-gaap:LongtermDebtTypeAxis: us-gaap:UnsecuredDebtMember
From2016-01-01to2016-12-31_custom_SatallanteMember_custom_UnsecuredDebt2Member 2016-01-01 - 2016-12-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SatallanteMember
us-gaap:LongtermDebtTypeAxis: custom:UnsecuredDebt2Member
From2015-01-01to2015-12-31_custom_DreamstarMember_custom_UnsecuredDebt2Member 2015-01-01 - 2015-12-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DreamstarMember
us-gaap:LongtermDebtTypeAxis: custom:UnsecuredDebt2Member
From2015-10-01to2015-12-31_custom_SatallanteMember_custom_UnsecuredDebt2Member 2015-10-01 - 2015-12-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SatallanteMember
us-gaap:LongtermDebtTypeAxis: custom:UnsecuredDebt2Member
AsOf2016-12-31_us-gaap_SecuredDebtMember 2016-12-31 0001527844 us-gaap:LongtermDebtTypeAxis: us-gaap:SecuredDebtMember
AsOf2016-12-31_us-gaap_UnsecuredDebtMember 2016-12-31 0001527844 us-gaap:ShortTermDebtTypeAxis: us-gaap:UnsecuredDebtMember
AsOf2015-12-31_us-gaap_UnsecuredDebtMember 2015-12-31 0001527844 us-gaap:ShortTermDebtTypeAxis: us-gaap:UnsecuredDebtMember
AsOf2017-03-31_custom_MoellerMember 2017-03-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:MoellerMember
AsOf2016-12-31_custom_MoellerMember 2016-12-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:MoellerMember
AsOf2017-03-31_custom_SatallanteMember 2017-03-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SatallanteMember
AsOf2015-12-31_custom_SatallanteMember_us-gaap_UnsecuredDebtMember 2015-12-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SatallanteMember
us-gaap:LongtermDebtTypeAxis: us-gaap:UnsecuredDebtMember
AsOf2016-12-31_custom_UnsecuredDebtAllMember 2016-12-31 0001527844 us-gaap:LongtermDebtTypeAxis: custom:UnsecuredDebtAllMember
AsOf2015-12-31_custom_UnsecuredDebtAllMember 2015-12-31 0001527844 us-gaap:LongtermDebtTypeAxis: custom:UnsecuredDebtAllMember
From2015-01-01to2015-12-31_custom_SatallanteMember_us-gaap_UnsecuredDebtMember 2015-01-01 - 2015-12-31 0001527844 us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SatallanteMember
us-gaap:LongtermDebtTypeAxis: us-gaap:UnsecuredDebtMember
From2015-01-01to2015-12-30 2015-01-01 - 2015-12-30 0001527844  
AsOf2016-03-08_custom_RoyaltyNetworkMember 2016-03-08 0001527844 us-gaap:OtherCommitmentsAxis: custom:RoyaltyNetworkMember
From2017-01-01to2017-03-31_custom_RoyaltyNetworkMember 2017-01-01 - 2017-03-31 0001527844 us-gaap:OtherCommitmentsAxis: custom:RoyaltyNetworkMember
From2015-01-01to2015-12-31_custom_RoyaltyNetworkMember 2015-01-01 - 2015-12-31 0001527844 us-gaap:OtherCommitmentsAxis: custom:RoyaltyNetworkMember
AsOf2016-06-01_custom_LicenseAgreementsMember 2016-06-01 0001527844 us-gaap:OtherCommitmentsAxis: custom:LicenseAgreementsMember
AsOf2017-03-03 2017-03-03 0001527844  
(End Contexts)
 
Elements
Element Data Type Period Type Balance Type Custom
custom:AdvanceRoyaltiesFirstYear xbrli:monetaryItemType  Instant  Debit  Yes
     
custom:AdvanceRoyaltiesPercentage num:percentItemType  Instant    Yes
     
custom:AdvancedToRelatedParty xbrli:monetaryItemType  Duration    Yes
     
custom:AdvancesReceived xbrli:monetaryItemType  Duration    Yes
     
custom:AmortizationOfLoanFeesAfterExtension xbrli:monetaryItemType  Duration    Yes
     
custom:AmortizedDiscount xbrli:monetaryItemType  Duration    Yes
     
custom:AnnualInreaseInBasePayments num:percentItemType  Duration    Yes
     
custom:AuctionBrokerFee num:percentItemType  Duration    Yes
     
custom:AuctionBuyBackOption num:percentItemType  Duration    Yes
     
custom:AuthorizedPreferredStockParValue num:perShareItemType  Duration    Yes
     
custom:AuthorizedPreferredStockShares xbrli:sharesItemType  Duration    Yes
     
custom:BeginningBalanceLevelThree xbrli:monetaryItemType  Instant    Yes
     
custom:CashEnd xbrli:monetaryItemType  Duration  Debit  Yes
     
custom:CashPaidForIntangibles xbrli:monetaryItemType  Duration  Debit  Yes
     
custom:CashUsedInOperations xbrli:monetaryItemType  Duration  Debit  Yes
     
custom:CommitmentOfCommonStockToConsultant xbrli:sharesItemType  Duration    Yes
     
custom:CommonStockAuthorized xbrli:sharesItemType  Duration    Yes
     
custom:CommonStockIssued xbrli:sharesItemType  Instant    Yes
     
custom:CommonStockOutstanding xbrli:sharesItemType  Instant    Yes
     
custom:ContentProviderMember nonnum:domainItemType  Duration    Yes
     
custom:CreditCard xbrli:monetaryItemType  Instant    Yes
     
custom:CreditCardPayable xbrli:monetaryItemType  Instant  Credit  Yes
  Credit card payable  
custom:DateOfAgreement xbrli:dateItemType  Duration    Yes
     
custom:DateOfExtensionOfLease xbrli:dateItemType  Duration    Yes
     
custom:DateOfTerminationOfPreviousOffice xbrli:dateItemType  Duration    Yes
     
custom:DebtEffectiveDate xbrli:dateItemType  Duration    Yes
     
custom:DefaultInterestRate xbrli:pureItemType  Instant    Yes
     
custom:DocumentAndEntityInformationAbstract xbrli:stringItemType  Duration    Yes
     
custom:DreamstarMember nonnum:domainItemType  Duration    Yes
     
custom:EndingBalanceLevelThree xbrli:monetaryItemType  Instant  Credit  Yes
     
custom:FairValueOfCommonStock xbrli:monetaryItemType  Instant    Yes
     
custom:FairValueOfCommonStockPerShare num:perShareItemType  Duration    Yes
     
custom:FirstTranche xbrli:monetaryItemType  Duration    Yes
     
custom:FrankWorthCollectionMember nonnum:domainItemType  Duration    Yes
     
custom:GauranteedTotalRepayment xbrli:monetaryItemType  Duration    Yes
     
custom:GrossFederalNetOperatingLoss xbrli:monetaryItemType  Duration    Yes
     
custom:GrossProceeds xbrli:monetaryItemType  Duration    Yes
     
custom:ICONZArtMember nonnum:domainItemType  Duration    Yes
     
custom:ImageRevenue xbrli:monetaryItemType  Duration    Yes
     
custom:InterestExpenseDiscount xbrli:monetaryItemType  Duration  Debit  Yes
     
custom:LeaseAgreementRent xbrli:monetaryItemType  Duration    Yes
     
custom:LicenseAgreementsMember nonnum:domainItemType  Duration    Yes
     
custom:LicenseRevenue xbrli:monetaryItemType  Duration    Yes
     
custom:LoansPayableNetOfUnamortizedDiscount xbrli:monetaryItemType  Instant  Credit  Yes
     
custom:MSNHoldingMember nonnum:domainItemType  Duration    Yes
     
custom:MinimumSalesPerYear xbrli:monetaryItemType  Instant    Yes
     
custom:MoellerMember nonnum:domainItemType  Duration    Yes
     
custom:NetBookValue xbrli:monetaryItemType