Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash Flows from Operating Activities:    
Net Loss $ (24,698) $ (20,941)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Amortization of Film and Television Costs 904 231
Depreciation and Amortization of Property, Equipment and Intangible Assets 2,585 2,408
Amortization of Right-of-Use Asset 1,091 1,737
Amortization of Premium on Marketable Securities 7 67
Share-Based Compensation Expense 331 667
Impairment of Film and Television Costs 28 0
Impairment of Intangible Assets 767 0
Loss on Debt Settlement 1,753 0
Gain on Early Lease Termination (4) 0
Loss on Share Exchange 286 0
Deferred Income Taxes (135) 7
Loss on Partial Disposal of Equity Investment in Your Family Entertainment AG 1,518 0
Loss on Revaluation of Equity Investments in Your Family Entertainment AG 9,830 1,627
Unrealized (Gain) Loss on Foreign Currency of Equity Investments in Your Family Entertainment AG (1,775) 1,038
Loss (Gain) on Warrant Revaluation 232 (63)
Accounts Payable Balance Settled in Stock 2,209 0
Loss on Transaction 0 985
Realized Loss on Marketable Securities 37 611
Non-cash Interest Expense 73 0
Stock Issued for Services 228 306
Stock Options Issued to Consultants 43 30
Credit Loss Expense 135 232
Other Non-Cash Items 34 0
Decrease (Increase) in Operating Assets:    
Accounts Receivable 2,098 5,912
Other Receivable (58) (36)
Tax Credits Earned (less capitalized) (11,639) (9,071)
Tax Credits Received 9,252 15,979
Employee Retention Tax Credit Receivable 0 (1,232)
Film and Television Costs, net (3,858) (1,731)
Prepaid Expenses and Other Assets (244) 118
Increase (Decrease) in Operating Liabilities:    
Accounts Payable 108 (4,897)
Accrued Salaries and Wages 114 (627)
Accrued Expenses 334 (280)
Accrued Production Costs 233 1,679
Participations Payable (415) (449)
Deferred Revenue (1,887) 3,106
Lease Liability (911) (788)
Due to Related Party 3 (1)
Other Liabilities (15) (113)
Net Cash Used in Operating Activities (11,406) (3,489)
Cash Flows from Investing Activities:    
Repayments from Related Party for Note Receivables 400 83
Proceeds from Sales and Maturities of Marketable Securities 4,841 10,046
Investment in Marketable Securities (6,722) 0
Purchase of Property and Equipment (151) (117)
Net Cash (Used in) Provided by Investing Activities (1,632) 10,012
Cash Flows from Financing Activities:    
Proceeds from Margin Loan 5,915 11,021
Repayments of Margin Loan (6,811) (10,901)
Proceeds from Production Facilities 10,251 8,852
Repayments of Production Facilities (8,584) (14,756)
Repayments of Bank Indebtedness, net 0 (2,810)
Proceeds from Factoring Transaction 484 0
Principal Payments on Finance Lease Obligations (393) (1,661)
Debt Issuance Costs (79) (2)
Proceeds from Sale of Investment 829 0
Placement Agent Fee Paid in Cash (511) (390)
Proceeds from Securities Purchase Agreement, net 7,046 7,515
Shares Withheld for Taxes on Vested Restricted Shares (1) (1)
Proceeds from Warrant Exercise 1 2
Net Cash Provided by (Used in) Financing Activities 8,147 (3,131)
Effect of Exchange Rate Changes on Cash (551) 898
Net (Decrease) Increase in Cash and Restricted Cash (5,442) 4,290
Beginning Cash and Restricted Cash 8,385 4,095
Ending Cash and Restricted Cash 2,943 8,385
Supplemental Disclosures of Cash Flow Information    
Cash Paid for Interest 40 129
Cash Paid for Taxes 0 0
Non-Cash Operating Activities    
Reduction in Leased Asset Due to Modified Lease Liability 106 0
Non-Cash Financing and Investing Activities    
Leased Assets Obtained in Exchange for New Finance Lease Liabilities $ 356 $ 0