In connection with the 42West acquisition on March 30, 2017, the Company entered into the put agreements, pursuant to which it granted Put Rights to the sellers. During the six months ended June 30, 2020, the sellers exercised their Put Rights, for an aggregate amount of 177,518 shares of Common Stock. During the three and six months ended June 30, 2020, the Company paid $84,700 and $459,700, respectively, related to Put Rights that were exercised of which $275,000 were exercised in December 2019. As of June 30, 2020, $1,452,500 was due from the exercise of these Put Rights.