Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current Assets:    
Cash and Cash Equivalents $ 3,525,433 $ 6,929,399
Restricted Cash 0 568,673
Accounts Receivable, net 2,412,460 2,893,902
Other Receivable 0 160,545
Inventory, net 16,345 17,589
Prepaid and Other Assets 264,578 264,818
Total Current Assets 6,218,816 10,834,926
Property and Equipment, net 80,024 94,666
Accounts Receivable 562,500 1,687,500
Other Receivables 0 96,327
Film and Television Costs, net 4,697,660 2,777,088
Lease Deposits 325,000 0
Intangible Assets, net 1,849,360 1,856,280
Goodwill 10,365,805 10,365,805
Total Assets 24,099,165 27,712,592
Current Liabilities:    
Accounts Payable 410,044 453,201
Accrued Expenses [1] 1,424,340 1,717,970
Deferred Revenue 388,783 453,927
Accrued Salaries and Wages 140,352 168,549
Disputed Trade Payable [2] 925,000 925,000
Total Current Liabilities 3,288,519 3,718,647
Long Term Liabilities:    
Deferred Revenue 4,423,224 4,631,456
Production Loan Facility, net 2,149,513 4,322,643
Total Liabilities 9,861,256 12,672,746
Commitments and Contingencies (see note 13)
Stockholders' Equity:    
Preferred Stock, $0.001 par value, 10,000,000 share authorized, respectively; 2,120 and 3,530 shares issued and outstanding, respectively 2 4
Common Stock, $0.001 par value, 233,333,334 shares authorized, respectively; 8,950,303 and 7,610,794 shares issued and outstanding, respectively 8,950 7,611
Common Stock to Be Issued 24 24
Additional Paid in Capital 59,032,548 56,588,822
Accumulated Deficit (44,798,497) (41,551,497)
Accumulated Other Comprehensive Loss (5,118) (5,118)
Total Equity 14,237,909 15,039,846
Total Liabilities & Stockholders' Equity $ 24,099,165 $ 27,712,592
[1] Other Accrued Expenses include estimates of expenses incurred but not yet recorded. The increase in Other Accrued Expenses from the year ended December 31, 2016 to December 31, 2017 relates to estimates of final dubbing costs and participation expense related to our Llama Llama property.
[2] As part of the Merger in 2013, the Company assumed certain liabilities from a previous member of A Squared which has claimed certain liabilities totaling $925,000. The Company disputes the basis for this liability. As of June 30, 2018, the Company believes that the statute of limitations applicable to the assertion of any legal claim relating to the collection of these liabilities has expired and therefore believes this liability is uncollectible.