Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (unaudited)

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Consolidated Statements of Cash Flows (unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash Flows from Operating Activities:    
Net Loss $ (2,421,938) $ (2,843,763)
Adjustments to reconcile net loss to net cash provided in operating activities:    
Depreciation Expense 46,501 37,774
Amortization Expense 50,322 45,527
Imputed Interest Expense 18,544 19,611
Bad Debt Expense (1,550) 55,000
Prepaid Consulting Services Expense 0 280,482
(Gain) Loss on Distribution Contracts (102,350) 47,229
(Gain) Loss on Deferred Financing Costs 9,313 0
(Gain) Loss on Impairment of Assets 7,500 70,905
(Gain) Loss on Foreign Currency Translation 36,258 0
(Gain) Loss on Settlement of Accounts Payable 0 (52,447)
(Gain) Loss on Inventory 0 174,963
Decrease (Increase) in Operating Assets:    
Accounts Receivable 18,612 495,522
Inventory (2,355) 28,226
Prepaid Expenses & Other Assets 16,744 138,295
Film and Television Costs, net (599,681) (156,592)
Increase (Decrease) in Operating Liabilities:    
Accounts Payable (14,059) (448,708)
Accrued Salaries 35,332 59,800
Deferred Revenue and Advances 165,270 432,648
Other Accrued Expenses 125,930 (9,392)
Net Cash Used in Operating Activities (2,611,607) (1,624,920)
Cash Flows from Investing Activities:    
Investment in Intangible Assets (111,221) (70,000)
Investment in Fixed Assets (180,853) (3,151)
Investment in Capitalized Product Development 0 (16,330)
Net Cash Used in Investing Activities (292,074) (89,481)
Cash Flows from Financing Activities:    
Sale of Preferred Stock, net of offering costs 0 6,000,000
Sale of Common Stock, net of offering costs 0 360,000
Proceeds from Services Advance 750,000 750,000
Repayment of Services Advance 0 (10,117)
Proceeds of Related Party Notes 513 0
Payments of Related Party Notes 0 (105,017)
Common Stock Offering Costs 0 (4,884)
Preferred Stock Offering Costs 0 (620,085)
Debt Issuance Cost 0 (15,000)
Net Cash Provided by Financing Activities 750,513 6,354,897
Net Increase (Decrease) in Cash and Cash Equivalents (2,153,168) 4,640,496
Beginning Cash and Cash Equivalents 4,301,099 527,110
Ending Cash and Cash Equivalents 2,147,931 5,167,606
Supplemental Disclosures of Cash Flow Information:    
Cash Paid for Income Taxes 0 0
Cash Paid for Interest 1,076 2,230
Schedule of Non-Cash Financing and Investing Activities:    
Common Stock Issued as Settlement for Accounts Payable 0 32,572
Common Stock Issued for Prepaid Services $ 0 $ 113,998