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Wizard Entertainment

Logo: https://www.sec.gov/Archives/edgar/data/1162896/000149315218014336/logo_001.jpg, Non-free logo, via Wikipedia⁴

Producer of multi-genre fan conventions

Wizard Entertainment Inc., formerly known as Wizard World, was a producer of multi-genre fan conventions across North America. The company that became Wizard Entertainment began in 1991 as Wizard Press, the publisher of the monthly magazine Wizard.³ From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

1991Founded¹

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TickerPROP on Nasdaq¹
Industryentertainment¹
HeadquartersNew York City¹
Websitewww.wizardworld.com
Legal formDelaware corporation¹
Incorporated inDE⁵
Business address55 Waugh Drive, Suite 400, Houston, Tx 77007⁵
Filer categoryNon-accelerated filer, Smaller reporting company⁵

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Wizard Entertainment Inc., formerly known as Wizard World, was a producer of multi-genre fan conventions across North America.³

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

27.1%Operating margin⁸

13.3%Net margin⁸

2943.8%Revenue growth, 2025⁸

24.6%Return on equity⁸

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Crude Oil Sales brought in 76% of the revenue Wizard Entertainment broke down this way in fiscal 2025.

Crude Oil Sales$204.0M⁸76%up 2994% from 2024
NGLSales$28.1M⁸10%up 3448% from 2024
Natural Gas Liquids (NGL)$28.1M⁸10%up 3448% from 2024
Natural Gas Sales$9.5M⁸4%up 1619% from 2024

Products and services by year

Products and services	2024	2025
Crude Oil Sales	$6.6M	$204.0M
NGLSales	$793.0K	$28.1M
Natural Gas Liquids (NGL)	$793.0K	$28.1M
Natural Gas Sales	$551.0K	$9.5M

Where the money goes

Where each dollar of revenue went, fiscal 2025

Research and developmentOther costsProfit

Research and development63¢$152.9M
Other costs15¢$35.0M
Income tax9¢$21.7M
Profit13¢$32.1M

Out of $241.6M in revenue.⁸

Where each dollar of operating cash went, fiscal 2025

Kept or used elsewhere

Kept or used elsewhere100¢$153.9M

Out of $153.9M of cash from operations.⁸

Financial statements

Revenue⁹¹⁰¹¹¹²⁸$241.6M in 2025+2184% since 2019

Gross profit⁹$1.5M in 2020+67% since 2019

Operating income⁹¹⁰¹¹¹³⁸$65.6M in 2025

Net income⁹¹⁰¹¹¹³⁸$32.1M in 2025

Every line of the income statement in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31
Total revenues	$241.6M	$7.9M
Lease operating expenses	$41.4M	$1.3M
Transportation and processing expenses	$8.9M	$864.0K
Ad valorem and production taxes	$21.2M	$591.0K
Depreciation, depletion, and amortization	$48.9M	$427.0K
Accretion of asset retirement obligation	$247.0K	$6.0K
Exploration expenses	$1.3M	$734.0K
Abandonment and impairment of unproved properties	$3.4M	$0
General and administrative expenses	$50.6M	$30.6M
Total operating expenses	$176.1M	$34.5M
Income (loss) from operations	$65.6M	-$26.5M
Interest expense	-$28.5M	-$1.1M
Gain (loss) on derivatives, net	$79.2M	-$4.4M
Loss on adjustment to fair value embedded derivatives, debt, and warrants	-$63.3M	-$5.4M
Loss on issuance of debt	$0	-$3.0M
Interest income and other	$759.0K	$580.0K
Total other expenses	-$11.9M	-$13.4M
Income (loss) from operations before income taxes	$53.7M	-$39.9M
Income tax expense	-$21.7M	$0
Net income (loss) from continuing operations	$32.1M	-$39.9M
Loss from discontinued operations, net of taxes	$0	-$1.0M
Net loss from discontinued operations	$0	-$1.0M
Net income (loss) attributable to Prairie Operating Co.	$32.1M	-$40.9M
Series F preferred stock declared dividends	-$11.3M	$0
Series F preferred stock undeclared dividends	-$1.2M	$0
Remeasurement of Series F preferred stock	-$80.5M	$0
Net loss attributable to Prairie Operating Co. common stockholders	-$60.9M	-$40.9M
Net loss attributable to Prairie Operating Co. common stockholders - Diluted	-$60.9M	-$40.9M
Loss per share, basic (in Dollars per share)	-$1	-$3
Loss per share, diluted (in Dollars per share)	-$1	-$3
Weighted average common shares outstanding, basic (in Shares)	45.2M shares	15.5M shares
Weighted average common shares outstanding, diluted (in Shares)	45.2M shares	15.5M shares

Total assets⁹¹⁰¹¹¹²¹³⁸$944.5M in 2025+27230% since 2019

Total liabilities⁹¹⁰¹¹¹²¹³⁸$678.2M in 2025+6883% since 2019

Shareholders’ equity¹⁰¹¹⁸$130.2M in 2025

Cash⁹¹⁰¹¹¹²¹³⁸$20.0K in 2025−99% since 2019

Every line of the balance sheet in the latest annual report, as filed.⁸

Period ending	2025-12-31	2025-06-30	2024-12-31
Cash and cash equivalents	$20.0K		$5.2M
Oil, natural gas, and NGL accrued revenue	$22.7M		$3.0M
Joint interest and other receivables	$23.1M		$9.3M
Derivative assets	$28.8M		$0
Inventory	$3.6M		$5.0K
Prepaid expenses and other current assets	$1.5M		$312.0K
Note receivable	$0	$500.0K	$494.0K
Total current assets	$79.7M		$18.3M
Oil and natural gas properties, successful efforts method of accounting including $57,897 and $70,462 excluded from depletable base as of December 31, 2025 and 2024, respectively	$852.7M		$135.0M
Other property and equipment	$21.1M		$94.0K
Less: Accumulated depreciation, depletion, and amortization	-$49.3M		-$427.0K
Total property and equipment, net	$824.5M		$134.6M
Derivative assets	$24.6M		$0
Debt issuance costs, net	$12.6M		$1.7M
Operating lease assets	$3.0M		$1.3M
Other noncurrent assets	$133.0K		$578.0K
Total assets	$944.5M		$156.6M
Accounts payable and accrued expenses	$62.8M		$38.2M
Oil, natural gas, and NGL revenue payable	$30.3M		$2.4M
Ad valorem and production taxes payable	$31.4M		$7.1M
Senior convertible note, at fair value	$0		$12.6M
Derivative liabilities	$0		$2.4M
Operating lease liabilities	$1.3M		$323.0K
Total current liabilities	$125.8M		$63.0M
Credit facility	$366.0M		$28.0M
Subordinated note related party	$1.5M		$4.6M
Subordinated note warrants, at fair value related party	$316.0K		$4.2M
Series F convertible preferred stock embedded derivatives, at fair value	$15.9M		$0
Series F convertible preferred stock warrants, at fair value	$90.1M		$0
SEPA, at fair value	$0		$790.0K
Derivative liabilities	$0		$1.9M
Oil, natural gas, and NGL revenue payable	$27.4M		$0
Ad valorem and production taxes payable	$22.8M		$0
Deferred tax liability	$21.7M		$0
Asset retirement obligation	$4.0M		$227.0K
Operating lease liabilities	$1.8M		$1.0M
Other longterm liabilities	$1.1M		$0
Total longterm liabilities	$552.5M		$40.8M
Total liabilities	$678.2M		$103.8M
Series F convertible preferred stock; $0.01 par value; 50,000,000 shares authorized, and 121,050 and 0 shares issued and outstanding as of December 31, 2025 and 2024, respectively	$136.1M		$0
Common stock; $0.01 par value; 500,000,000 shares authorized, and 62,499,375 and 23,045,209 shares issued and outstanding as of December 31, 2025 and 2024, respectively	$625.0K		$230.0K
Treasury stock, at cost; 111,357 and 0 shares issued and outstanding as of December 31, 2025 and 2024, respectively	-$531.0K		$0
Additional paidin capital	$217.8M		$172.3M
Accumulated deficit	-$87.7M		-$119.8M
Total stockholders equity	$130.2M		$52.8M
Total liabilities, mezzanine equity, and stockholders equity	$944.5M		$156.6M
Drilling cost amount excluded from amortization	$57.9M		$70.5M
Temporary equity, par value (in Dollars per share)	$0.01		$0.01
Temporary equity, shares authorized (in Shares)	50.0M shares		50.0M shares
Temporary equity, shares issued (in Shares)	121.0K shares		0 shares
Temporary equity, shares outstanding (in Shares)	121.0K shares		0 shares
Common stock, par value (in Dollars per share)	$0.01		$0.01
Common stock, shares authorized (in Shares)	500.0M shares		500.0M shares
Common stock, shares issued (in Shares)	62.5M shares		23.0M shares
Common stock, shares outstanding (in Shares)	62.5M shares		23.0M shares
Treasury stock, shares issued and outstanding (in Shares)	111.4K shares		0 shares

Cash from operations⁹¹⁰¹¹¹³⁸$153.9M in 2025

Capital spending⁹¹⁰¹¹¹²$200.0K in 2023+3226% since 2019

Free cash flow⁹¹⁰¹¹¹³-$12.1M in 2023+1606% since 2019

Every line of the cash flow in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31
Net income (loss) from continuing operations	$32.1M	-$39.9M
Depreciation, depletion, and amortization	$48.9M	$427.0K
Accretion of asset retirement obligation	$247.0K	$6.0K
Abandonment and impairment of unproved properties	$3.4M	$0
Stock based compensation	$14.8M	$8.4M
Unrealized (gain) loss on derivatives	-$57.8M	$4.4M
Loss on adjustment to fair value embedded derivatives, debt, and warrants	$63.3M	$5.4M
Deferred income tax expense	$21.7M	$0
Amortization of deferred financing costs	$3.2M	$35.0K
Loss on issuance of debt	$0	$3.0M
Noncash SEPA commitment fee	$0	$600.0K
Oil, natural gas, and NGL accrued revenue	-$19.7M	-$3.0M
Joint interest and other receivables	-$6.2M	-$9.2M
Inventory	-$3.6M	$0
Prepaid expenses and other current assets	-$1.1M	-$74.0K
Accounts payable and accrued expenses	$19.2M	$18.6M
Oil, natural gas, and NGL revenue payable	$17.5M	$1.1M
Ad valorem and production taxes payable	$17.9M	$496.0K
Other assets and liabilities	$176.0K	-$65.0K
Net cash provided by (used in) continuing operating activities	$153.9M	-$9.8M
Net cash provided by discontinued operations	$0	$460.0K
Net cash provided by (used in) operating activities	$153.9M	-$9.3M
Cash paid for Bayswater asset purchase, net of cash received	-$459.6M	$0
Development of oil and natural gas properties	-$177.7M	-$28.5M
Other asset and leasehold purchases	-$19.4M	-$94.0K
Cash received from payment on note receivable related to sale of cryptocurrency miners	$805.0K	$338.0K
Cash paid for Nickel Road asset purchase, net of cash received	$0	-$55.5M
Transaction expenses paid related to Nickel Road asset purchase	$0	-$239.0K
Deposit on other oil and natural gas properties purchase	$0	-$382.0K
Cash received from sale of cryptocurrency miners	$0	$1.0M
Net cash used in investing activities	-$655.9M	-$83.4M
Borrowings on the Credit Facility	$390.0M	$28.0M
Repayment on the Credit Facility	-$52.0M	$0
Debt issuance costs associated with the Credit Facility	-$14.1M	-$336.0K
Proceeds from the issuance of Common Stock	$43.8M	$15.0M
Financing costs associated with issuance of Common Stock	-$3.9M	-$5.0M
Proceeds from the issuance of Series F Preferred Stock	$148.2M	$0
Financing costs associated with the issuance of Series F Preferred Stock	-$12.2M	$0
Proceeds from the issuance of the Subordinated Note related party	$0	$5.0M
Payments of the Subordinated Note related party	-$3.2M	-$1.8M
Proceeds from the issuance of the Senior Convertible Note	$0	$14.2M
Payments of the Senior Convertible Note	$0	-$3.7M
Proceeds from option exercise	$633.0K	$0
Treasury stock repurchased	-$531.0K	$0
Proceeds from the exercise of Series D and E Preferred Stock warrants	$0	$33.5M
Net cash provided by financing activities	$496.8M	$84.9M
Net decrease in cash and cash equivalents	-$5.2M	-$7.8M

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The story

Founded by Gareb Shamus in 1991.¹

Corporate history

Gareb Shamus founded Wizard magazine in January 1991 shortly after he graduated from college. The company was originally based in Congers, New York.

Wizard magazine was successful, and the company expanded its publishing operations with more magazines devoted to other elements of the collectible industry. Wizard purchased the Chicago Comicon in 1997 to expand from its core publishing business into trade/consumer conventions.

In early 2011, the company made some major corporate transitions. First, through an arrangement with Strato Malamas of the holding company GoEnergy, it became a publicly traded company known as Wizard World. At the same time, it abruptly canceled Wizard magazine and its other remaining publication, ToyFare, to focus on its convention business.

Shamus was pushed out as company CEO in late 2011; his position was taken in March 2012 by John Macaluso. In 2015, the company lost $4.25 million in revenue and cut back from 25 to 19 convention events in 2016. Less than a week after the announcement of the losses, Macaluso resigned as CEO and was replaced by John D. Maatta.

In 2018, Wizard World was renamed Wizard Entertainment, Inc.

In 2021, after selling its last few conventions to FanExpo, Wizard Entertainment essentially ceased to exist.

Beginnings and growth

Wizard purchased the Chicago Comicon in 1996; the renamed "Wizard World Chicago" was the template for a new kind of convention that shifted its focus from actual comic books to ancillary elements of pop culture fandom: celebrity performers, films, television, video games, and toys – "comic conventions" almost in name only. By 2006, Wizard World Chicago boasted a weekend attendance of over 58,000 people.

In May 2002, Wizard branched out from Chicago and produced Wizard World East at the Pennsylvania Convention Center in Philadelphia. And in 2003 the company produced Wizard World Texas, adding Wizard World Los Angeles in 2004 and Wizard World Boston in 2005.

Read the full text

In 2007–2008, Wizard held conventions in Los Angeles, Philadelphia, Chicago, and Texas. In 2008, Wizard began adding an academic forum called "Wizard World University," integrating scholarly panels into its conventions, beginning with the November convention in Arlington, Texas.

From Wikipedia’s article on Wizard Entertainment, shared under CC BY-SA 4.0.⁶

Leadership

Who has led Wizard Entertainment, and when. Pick a name to see everywhere that person has worked.

FounderGareb Shamus¹

Products and brands

The COVID-19 pandemic hit Wizard Entertainment hard—as it did the convention business worldwide. Most 2020 conventions scheduled for after mid-March of that year were canceled, and many moved online in 2021.

Wizard World held only six in-person conventions in 2021, and that August the company announced it would be selling the convention events business to FanExpo, with the final Wizard World Chicago show occurring in October.