Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash Flows from Operating Activities:    
Net Loss $ (3,483,122) $ (3,728,599)
Adjustments to reconcile net loss to net cash provided in operating activities:    
Amortization of Film and Television Costs 127,551 0
Depreciation Expense 64,458 50,484
Amortization Expense 69,453 59,269
Imputed Interest Expense 24,757 25,842
Bad Debt Expense 42,739 73,458
Issuance of Common Stock for Services 0 127,200
Stock Compensation Expense 31,919 0
(Gain) Loss on Distribution Contracts (115,811) 47,229
(Gain) Loss on Deferred Financing Costs 9,313 0
(Gain) Loss on Impairment of Assets (7,500) 0
(Gain) Loss on Settlement or Extinguishment of Debt 0 (56,519)
(Gain) Loss on Disposition of Assets 0 70,905
(Gain) Loss on Conversion of Accounts Payable 0 4,072
(Gain) Loss on Inventory 0 174,963
(Gain) Loss on Foreign Currency Translation 37,313 8,594
Decrease (increase) in operating assets    
Accounts Receivable 65,317 603,288
Inventory 4,611 37,697
Prepaid Expenses & Other Assets 142,846 361,534
Film and Television Costs, net (827,145) (303,953)
Increase (decrease) in operating liabilities    
Accounts Payable (946) (492,173)
Accrued Salaries 46,097 (9,670)
Deferred Revenue and Advances 117,212 397,313
Other Accrued Expenses 239,356 67,078
Net cash used in operating activities (3,396,581) (2,481,988)
Cash Flows from Investing Activities:    
Investment in Intangible Assets (111,221) (70,000)
Investment in Fixed Assets (182,986) (4,156)
Investment in Capitalized Product Development 0 (23,830)
Net cash used in investing activities (294,207) (97,986)
Cash Flows from Financing Activities:    
Sale of Preferred Stock, net of offering costs 0 5,379,915
Sale of Common Stock, net of offering costs 3,827,782 355,116
Proceeds from Services Advance 750,000 750,000
Repayment of Services Advance 0 (10,417)
Proceeds of Related Party Notes 1,661 0
Payments from Related Party Notes (2,134) (105,651)
Debt Issuance Costs 0 (15,000)
Net cash provided by financing activities 4,577,309 6,353,963
Net Increase (Decrease) in Cash and Cash Equivalents 886,521 3,773,989
Beginning Cash and Cash Equivalents 4,301,099 527,110
Ending Cash and Cash Equivalents 5,187,620 4,301,099
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 0 0
Cash paid for interest 2,576 6,063
Schedule of non-cash financing and investing activites:    
Common Stock issued as Settlement for Accounts Payable 0 32,572
Common Stock issued for Pre-Paid Services $ 0 $ 32,100