Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (unaudited)

v2.4.0.8
Consolidated Balance Sheets (unaudited) (USD $)
Jun. 30, 2014
Dec. 31, 2013
Current Assets:    
Cash and Cash Equivalents $ 5,576,206 $ 527,110
Accounts Receivable, net 326,947 893,826
Inventory 132,621 224,351
Prepaid and Other Assets 432,164 582,056
Total Current Assets 6,467,938 2,227,343
Property and Equipment, net 56,792 78,748
Film and Television Costs 112,575 0
Capitalized Product Development in Process 0 54,575
Intangible Assets, net 1,907,187 1,865,706
Goodwill 10,365,805 10,365,805
Investment in Stan Lee Comics, LLC 0 0
Total Assets 18,910,297 14,592,177
Current Liabilities:    
Accounts Payable 433,720 889,919
Accrued Expenses 892,555 704,539
Accrued Salaries and Wages 62,788 59,958
Disputed Trade Payable 925,000 [1] 925,000 [1]
Short Term Debt - Related Party 412,893 516,659
Total Current Liabilities 2,726,956 3,096,075
Long Term Liabilities:    
Services Advance 741,758 [2] 0 [2]
Total Liabilities 3,468,714 3,096,075
Stockholders' Equity (Deficit)    
Preferred Stock, $0.001 par value, 10,000,000 share authorized, respectively; 6,000 and 0 shares issued and outstanding, respectively 6 0
Common Stock, $0.001 par value, 700,000,000 shares authorized, respectively; 6,383,269 and 5,918,704 shares issued and outstanding, respectively 6,384 5,919
Additional Paid in Capital 34,854,040 28,914,238
Accumulated Deficit (19,418,847) (17,424,055)
Total Equity (Deficit) 15,441,583 11,496,102
Total Liabilities & Stockholders' Equity (Deficit) $ 18,910,297 $ 14,592,177
[1] As part of the Merger, the Company assumed certain liabilities from a previous member of A Squared Entertainment, LLC which has claimed certain liabilities totaling $925,000. The Company disputes the basis for this liability and has not heard from the claimant for two years.
[2] During the first quarter of 2014, the Company entered into an exclusive long-term agreement with Sony DADC, the optical disc manufacturing and fulfillment arm of Sony, to provide all CD, DVD and BD replication, packaging and distribution to Genius Brands Internationals direct customers. Under the terms of the long-term, exclusive supply chain services agreement, the Company will order a minimum level of disc replication, packaging and distribution services for its content across all physical media, including DVD, CD, and Blu-ray from Sony DADC. As consideration for these minimum order levels, the Company will receive a total of $1,500,000, $750,000 of which was received during the first quarter of 2014 with the remaining $750,000 due by January 17, 2015.