Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

v3.24.3
Commitments and Contingencies
 9 Months Ended
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 19: Commitments and Contingencies

 

The following is a schedule of future minimum cash contractual obligations as of September 30, 2024 (in thousands):

                                                       
    2024     2025     2026     2027     2028     Thereafter     Total  
Operating Leases   $ 525     $ 1,640     $ 1,645     $ 1,415     $ 1,071     $ 3,386     $ 9,682  
Finance Leases     756       278       54       –       –       –       1,088  
Employment Contracts     1,014       1,646       222       –       –       –       2,882  
Consulting Contracts     1,019       2,840       769       –       –       –       4,628  
Debt     1,662       8,739       –       –       –       –       10,401  
Contractual obligation   $ 4,976     $ 15,143     $ 2,690     $ 1,415     $ 1,071     $ 3,386     $ 28,681  

 

The present value discount of the minimum operating lease payments above was $2.7 million which when deducted from the cash commitments for the leases included in the table above, equates to the operating lease liabilities of $7.0 million recorded as of September 30, 2024 on the Company’s condensed consolidated balance sheet.

 

Other Funding Commitments

 

The Company enters into various agreements associated with its individual properties. Some of these agreements call for the potential future payment of royalties or “profit” participations for either (i) the use of third party intellectual property, in which the Company is obligated to share net profits with the underlying rights holders on a certain basis as defined in the respective agreements, or (ii) services rendered by animation studios, post-production studios, writers, directors, musicians or other creative talent for which the Company is obligated to share with these service providers a portion of the net profits of the properties on which they have rendered services, as defined in each respective agreement.