Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows from Operating Activities:    
Net Loss $ (2,832,669) $ (1,624,117)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of Film and Television Costs 135,157 0
Depreciation Expense 33,063 29,827
Amortization Expense 38,315 30,323
Imputed Interest Expense 6,141 12,319
Bad Debt Expense / (Recovery) 0 (1,550)
Stock Issued for Services 24,000 0
Stock Compensation Expense 877,962 0
Gain on Distribution Contracts (258,103) (150,000)
Loss on Impairment of Assets 1,850 7,500
Loss on Foreign Currency Translation 0 36,237
Decrease (increase) in operating assets    
Accounts Receivable 79,503 137,368
Inventory 518 (2,354)
Prepaid Expenses & Other Assets (145,634) 20,861
Film and Television Costs, net (381,963) (412,512)
Increase (decrease) in operating liabilities    
Accounts Payable 133,069 (79,567)
Accrued Salaries 20,000 37,765
Deferred Revenue and Advances 2,140,369 58,006
Other Accrued Expenses (195,786) 3,596
Net cash used in operating activities (324,208) (1,896,298)
Cash Flows from Investing Activities:    
Investment in Intangible Assets (5,650) (102,220)
Investment in Fixed Assets (1,542) (180,853)
Net cash used in investing activities (7,192) (283,073)
Cash Flows from Financing Activities:    
Proceeds from Exercise of Warrants 82,500 0
Proceeds from Services Advance 0 750,000
Proceeds of Related Party Notes 0 525
Net cash provided by financing activities 82,500 750,525
Net Decrease in Cash and Cash Equivalents (248,900) (1,428,846)
Beginning Cash and Cash Equivalents 5,187,620 4,301,099
Ending Cash and Cash Equivalents 4,938,720 2,872,253
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 0 1,076
Schedule of non-cash financing and investing activites:    
Imputed Dividend on Preferred Stock 335,000 0
Issuance Of Common Stock In Satisfaction Of Short Term Advances $ 410,535 $ 0