Investor Relations

Financials

v3.8.0.1
Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current Assets:    
Cash and Cash Equivalents $ 2,247,402 $ 1,887,921
Restricted Cash 1,000,000 1,000,000
Accounts Receivable, net 130,179 122,910
Other Receivables 160,545 0
Inventory, net 18,502 6,562
Prepaid and Other Assets 433,272 359,395
Total Current Assets 3,989,900 3,376,788
Property and Equipment, net 86,295 90,461
Other Receivables 96,327 0
Film and Television Costs, net 4,232,632 2,260,964
Intangible Assets, net 1,801,878 1,845,650
Goodwill 10,365,805 10,365,805
Total Assets 20,572,837 17,939,668
Current Liabilities:    
Accounts Payable 336,122 648,638
Accrued Expenses 225,178 249,482
Deferred Revenue 489,394 410,662
Accrued Salaries and Wages 151,150 132,827
Disputed Trade Payable 925,000 925,000
Service Advance 0 [1] 1,489,583
Total Current Liabilities 2,126,844 3,856,192
Long Term Liabilities:    
Deferred Revenue 4,583,455 2,695,946
Production Facility 3,495,524 1,332,004
Total Liabilities 10,205,823 7,884,142
Stockholders' Equity:    
Preferred Stock, $0.001 par value, 10,000,000 shares authorized; 3,605 and 4,895 shares issued and outstanding, respectively 4 5
Common Stock, $0.001 par value, 233,333,334 shares authorized; 5,938,103 and 4,010,649 shares issued and outstanding, respectively 5,939 4,011
Common Stock to Be Issued 24 24
Additional Paid in Capital 50,741,109 46,697,005
Accumulated Deficit (40,374,944) (36,642,761)
Accumulated Other Comprehensive Loss (5,118) (2,758)
Total Stockholders' Equity 10,367,014 10,055,526
Total Liabilities & Stockholders' Equity $ 20,572,837 $ 17,939,668
[1] During the first quarter of 2014, the Company entered into an exclusive three-year agreement with DADC to provide all CD, DVD and Blu-ray replication, packaging and distribution to the Company's direct customers. Under the terms of the long-term, exclusive supply chain services agreement, the Company will order a minimum level of disk replication, packaging and distribution services for its content across all physical media, including DVD, CD, and Blu-ray from DADC. As consideration for these minimum order levels, the Company received a total of $1,500,000, $750,000 during the first quarter of 2014 and $750,000 during the first quarter of 2015. At the end of the term, the Company is obligated to repay a pro-rata portion of the advance if it has not ordered a minimum number of DVD/CD units during the term. On January 10, 2017, the Company entered into an amendment of our home entertainment Distribution Agreement with Sony pursuant to which, among other things, Sony paid DADC $1,489,583, which was the total sum owed and payable by us to DADC for the disk replication, packaging and distribution services. In connection with such transaction, we issued Sony 301,231 shares of our Common Stock at $4.945 per share, Sony's exclusive territory for exercising its home entertainment distribution rights under the Distribution Agreement was extended from the United States and Canada to worldwide, and the amount of advances subject to recoupment by Sony out of royalty payments that would otherwise be due to us under the Distribution Agreement was increased by the amount of the payment to DADC.
v3.8.0.1
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Licensing & Royalties $ 94,430 $ 85,660 $ 365,993 $ 347,128
Television & Home Entertainment 155,003 34,826 263,142 285,433
Advertising Sales 7,008 0 13,027 0
Product Sales 60 0 8,561 16,150
Total Revenues 256,501 120,486 650,723 648,711
Operating Expenses:        
Marketing and Sales 86,715 220,627 361,761 686,577
Direct Operating Costs 186,226 44,220 254,243 252,688
General and Administrative 1,150,147 1,389,360 3,772,643 4,325,703
Total Operating Expenses 1,423,088 1,654,207 4,388,647 5,264,968
Loss from Operations (1,166,587) (1,533,721) (3,737,924) (4,616,257)
Other Income (Expense):        
Other Income 2,975 3,238 8,568 3,298
Interest Expense (794) (417) (2,827) (2,570)
Interest Expense - Related Parties 0 0 0 (6,141)
Gain on Distribution Contracts 0 0 0 258,103
Net Other Income (Expense) 2,181 2,821 5,741 252,690
Loss before Income Tax expense (1,164,406) (1,530,900) (3,732,183) (4,363,567)
Income Tax expense 0 0 0 0
Net Loss Applicable to Common Shareholders $ (1,164,406) $ (1,530,900) $ (3,732,183) $ (4,363,567)
Net Loss per Common Share (Basic and Diluted) $ (0.20) $ (0.38) $ (0.67) $ (1.12)
Weighted Average Shares Outstanding (Basic and Diluted) 5,923,838 3,988,626 5,591,492 3,889,108
v3.8.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows from Operating Activities:    
Net Loss $ (3,732,183) $ (4,363,567)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of Film and Television Costs 37,935 158,168
Depreciation Expense 51,527 49,637
Amortization Expense 43,771 57,763
Imputed Interest Expense 0 6,141
Stock Issued for Services 130,000 39,000
Stock Compensation Expense 514,108 1,236,880
Gain on Distribution Contracts 0 (258,103)
Loss on Impairment of Assets 0 1,850
Decrease (Increase) in Operating Assets    
Accounts Receivable (9,626) 220,285
Other Receivables (256,872) 0
Inventory (11,940) 518
Prepaid Expenses & Other Assets (73,877) (253,678)
Film and Television Costs, net (1,880,811) (754,770)
Increase (Decrease) in Operating Liabilities    
Accounts Payable (312,516) 66,247
Accrued Expenses (24,304) (274,042)
Deferred Revenue 476,655 2,159,120
Accrued Salaries and Wages 18,323 23,223
Net Cash Used in Operating Activities (5,029,810) (1,885,328)
Cash Flows from Investing Activities:    
Investment in Intangible Assets 0 (5,650)
Investment in Fixed Assets (47,361) (1,542)
Net Cash Used in Investing Activities (47,361) (7,192)
Cash Flows from Financing Activities:    
Proceeds from Warrant Exchange, Net 3,401,924 0
Proceeds from Exercise of Warrants 0 110,000
Proceeds from Production Facility, Net 2,034,728 237,567
Net cash provided by financing activities 5,436,652 347,567
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash 359,481 (1,544,953)
Beginning Cash, Cash Equivalents, and Restricted Cash 2,887,921 5,187,620
Ending Cash, Cash Equivalents, and Restricted Cash 3,247,402 3,642,667
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 2,827 1,450
Schedule of non-cash financing and investing activites:    
Issuance of Common Stock in Relation to Sony Transaction 1,489,583 0
Issuance of Common Stock in Satisfaction of Short Term Advances $ 0 $ 410,535