Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash Flows from Operating Activities:    
Net Loss $ (11,481,245) $ (9,003,901)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Amortization of Film and Television Costs 2,230,024 1,079,723
Depreciation and Amortization Expense 341,072 88,309
Accretion of Discount on Secured Convertible Notes 274,751 678,015
Bad Debt Expense 0 2,400
Stock Issued for Services 163,799 322,605
Stock Compensation Expense 184,259 (16,589)
Warrant Modification Expense 182,075 0
Loss On Extinguished Debt 4,432,819 0
Loss on Impairment of Assets 0 1,740,000
Decrease (Increase) in Operating Assets:    
Accounts Receivable, net (1,941,383) 2,418,706
Other Receivable 20,902 235,970
Inventory 6,539 1,773
Prepaid & Other Assets 67,370 (18,049)
Lease Deposits (43,001) (325,000)
Film and Television Costs, net (2,757,077) (5,025,236)
Increase (Decrease) in Operating Liabilities:    
Accounts Payable 250,487 241,537
Accrued Salaries & Wages 93,656 (30,724)
Deferred Revenue and Advances 183,197 249,524
Participations Payable 1,193,056 (28,133)
Due To Related Party 237,556 346,759
Accrued Expenses 109,994 (965,700)
Net Cash Used in Operating Activities (6,251,150) (8,008,011)
Cash Flows from Investing Activities:    
Investment in Intangible Assets, net 0 (21,358)
Purchase of Property and Equipment (26,976) (21,627)
Net Cash Used in Investing Activities (26,976) (42,985)
Cash Flows from Financing Activities:    
Payments on Lease Liability (148,905) 0
Proceeds from Sale of Securities Purchase Agreement, net 3,021,552 1,596,341
Proceeds From Warrant Exchange 1,345,368 0
(Repayment)/Proceeds on Secured Convertible Notes (1,633,336) 4,186,054
Proceeds/(Repayment) on Production Facility, Net 913,541 (2,144,445)
Net Cash Provided by Financing Activities 3,498,221 3,637,950
Net Decrease in Cash, Cash Equivalents, and Restricted Cash (2,779,905) (4,413,046)
Beginning Cash, Cash Equivalents, and Restricted Cash 3,085,026 7,498,072
Ending Cash, Cash Equivalents, and Restricted Cash 305,121 3,085,026
Supplemental Disclosures of Cash Flow Information:    
Cash Paid for Interest 516,963 271,244
Schedule of non-cash financing and investing activites:    
Issuance of Common Stock for production services 803,300 1,985,607
Beneficial Conversion Feature 2,008,907 353,333
Capitalization of Operating Lease Right to Use Asset $ 2,245,093 $ 0