Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities:    
Net Loss $ (77,202,000) $ (44,529,000)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Amortization of Film and Television Costs 625,000 6,180,000
Depreciation and Amortization of Property, Equipment & Intangible Assets 2,549,000 2,711,000
Amortization of Right-of-Use Asset 2,782,000 2,024,000
Amortization of Premium on Marketable Securities 391,000 1,055,000
Share Based Compensation Expense 2,671,000 10,895,000
Impairment of Film and Television Costs 6,911,000 6,816,000
Impairment of Intangible Assets 4,413,000 4,117,000
Impairment of Goodwill 33,534,000 4,857,000
Unrealized Loss on Foreign Currency for Goodwill 287,000 0
Impairment of Property and Equipment 134,000 0
Loss on Early Lease Termination 258,000 0
Warrant Expense 12,664,000 0
Deferred Income Taxes (973,000) (45,000)
Marketing Expenses in Exchange for Stock 1,195,000 0
Gain on Revaluation of Equity Investments in Your Family Entertainment AG (2,314,000) (1,392,000)
Unrealized (Gain) Loss on Foreign Currency of Equity Investments in Your Family Entertainment AG (533,000) 1,380,000
Gain on Warrant Revaluation (10,373,000) (557,000)
Realized Loss on Marketable Securities 4,496,000 413,000
Write-Off of Contingent Consideration Liability 0 (1,340,000)
Write-off of Disputed Trade Payable (925,000) 0
Stock Issued for Services 1,105,000 312,000
Credit Loss Expense 401,000 337,000
Other Non-Cash Items (2,000) 18,000
Decrease (Increase) in Operating Assets:    
Accounts Receivable, net (2,572,000) 1,681,000
Other Receivable 1,066,000 347,000
Tax Credits Earned (less capitalized) (14,806,000) (13,663,000)
Tax Credits Received, net 20,621,000 9,513,000
Film and Television Costs, net (1,037,000) (8,044,000)
Prepaid Expenses and Other Assets 622,000 1,283,000
Increase (Decrease) in Operating Liabilities:    
Accounts Payable 5,346,000 2,751,000
Accrued Salaries & Wages (592,000) 191,000
Accrued Expenses (277,000) (1,958,000)
Accrued Production Costs 1,092,000 (1,478,000)
Participations Payable (1,067,000) (784,000)
Deferred Revenue (5,937,000) (8,315,000)
Lease Liability (622,000) (613,000)
Due to Related Party (4,000) (61,000)
Other Liabilities (19,000) (25,000)
Net Cash Used in Operating Activities (16,092,000) (25,923,000)
Cash Flows from Investing Activities:    
Cash Payment for Wow, net of Cash Acquired 0 (37,311,000)
Cash Payment for Equity Investment in Your Family Entertainment 0 (9,540,000)
Cash Payment for Ameba, net of Cash Acquired 0 (3,893,000)
Repayments from/(Loans to) Related Party for Note Receivables 1,333,000 (1,567,000)
Proceeds from Principal Collections on Marketable Securities 460,000 7,876,000
Proceeds from Sales and Maturities of Marketable Securities 72,137,000 14,112,000
Investment in Intangible Assets, net 0 (22,000)
Purchase of Property & Equipment (72,000) (592,000)
Net Cash Provided by (Used in) Investing Activities 73,858,000 (30,937,000)
Cash Flows from Financing Activities:    
Proceeds from Margin Loan 21,160,000 68,826,000
Repayments of Margin Loan (81,169,000) (13,479,000)
Proceeds from Production Facilities 12,932,000 11,359,000
Repayment of Production Facilities (17,667,000) (9,383,000)
Proceeds from Bank Indebtedness, net 1,122,000 225,000
Proceeds from Warrant Exchange, net 5,299,000 0
Principal Payments on Finance Lease Obligations (2,162,000) (1,310,000)
Debt Issuance Costs (18,000) (54,000)
Distributions to Non-Controlling Interest 0 (1,200,000)
Repurchase of Common Stock 0 (285,000)
Shares Withheld for Taxes on Vested Restricted Shares (49,000) (5,000)
Payment for Warrant Put Option Exercise (250,000) (250,000)
Net Cash Provided by (Used in) Financing Activities (60,802,000) 54,444,000
Effect of Exchange Rate Changes on Cash (301,000) (212,000)
Net Decrease in Cash (3,337,000) (2,628,000)
Beginning Cash 7,432,000 10,060,000
Ending Cash 4,095,000 7,432,000
Supplemental Disclosures of Cash Flow Information    
Cash Paid for Interest 1,822,000 252,000
Cash Paid for Taxes 64,000 19,000
Non-Cash Operating Activities    
Reduction in Leased Asset Due to Modified Lease Liability 219,000 0
Non-Cash Financing and Investing Activities    
Leased Assets Obtained in Exchange for New Finance Lease Liabilities 1,432,000 582,000
Warrants Issued for Services 443,000 0
Shares Issued for Wow Acquisition 0 11,554,000
Fair Value of Replacement Options Granted Related to Wow Acquisition 0 1,213,000
Warrant Modification $ 3,510,000 $ 0