Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities:    
Net Loss $ (83,642,921) $ (389,093,946)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Amortization of Film and Television Costs 759,989 292,362
Depreciation and Amortization Expense 392,861 266,417
Accretion of Discount on Secured Convertible Notes 0 (7,288)
Bad Debt (11,164) 99,792
Stock Issued for Services 41,000 219,000
Share Based Compensation Expense 5,567,320 352,311
Warrant Revaluation Expense 316,814 212,228,659
Lease Modification (66,859) 0
Conversion Option Revaluation Expense 0 171,835,729
Debt Discount in Excess of the Principal 0 1,031,852
Warrant Inducement Expense 69,138,527 (0)
Decrease (Increase) in Operating Assets:    
Accounts Receivable, net 1,906,261 974,524
Inventory, net 0 9,277
Prepaid Expenses & Other Assets (1,134,977) (300,662)
Lease Deposits (23,348) 0
Film and Television Costs, net (3,175,941) (381,777)
Increase (Decrease) in Operating Liabilities:    
Accounts Payable 921,952 126,144
Accrued Salaries & Wages 41,318 69,800
Deferred Revenue (474,440) 62,290
Participations Payable 663,726 282,406
Due to Related Party 136,586 (493,309)
Accrued Expenses (329,479) 95,159
Net Cash Used in Operating Activities (8,972,775) (2,331,260)
Cash Flows from Investing Activities:    
Investment in Stan Lee Universe, LLC (500,000) 0
Cash Payment for ChizComm, net of cash acquired (7,788,877) 0
Investment in Marketable Securities (80,902,119) 0
Investment in Intangible Assets, net (5,000) (500)
Investment in Property & Equipment (120,210) 0
Net Cash Used in Investing Activities (89,316,206) (500)
Cash Flows from Financing Activities:    
Payments On Lease Liability 131,951 (105,680)
Proceeds from Sale of Securities Purchase Agreement, net 0 44,755,671
Proceeds From Warrant Exchange 57,264,656 5,819,319
Proceeds from Senior Secured Convertible Notes, net 0 6,098,000
(Repayment)/Proceeds from Payroll Protection Program (366,267) 366,267
Collection Of Investor Notes 0 3,600,000
Repayment of Secured Convertible Notes 0 (2,866,664)
Note Conversion Costs 0 (55,186)
Repayment of Production Facility, net (825,348) (1,202,313)
Net Cash Provided by Financing Activities 56,204,992 56,409,414
Net (Decrease)/Increase in Cash and Cash Equivalents (42,083,989) 54,077,654
Beginning Cash and Cash Equivalents 100,456,324 305,121
Ending Cash and Cash Equivalents 58,372,335 54,382,775
Supplemental Disclosures of Cash Flow Information:    
Cash Paid for Interest 0 468,468
  Schedule of Non-Cash Financing and Investing Activities    
Issuance of common stock for services 969,000 0
Shares issued for ChizComm acquisition 3,527,027 0
Liability for Acquisition Earnout Shares 7,210,000 0
Senior Convertible notes were converted into 65,476,190 shares of Common Stock, 58,522,601 warrants were exercised on a cashless basis resulting in the issuance of 52,551,716 shares of Common Stock 0 13,750,000
Warrant Derivative Liability $ 0 $ 10,229,852