Quarterly report pursuant to Section 13 or 15(d)

1. Organization and Business (Details Narrative)

v3.5.0.2
1. Organization and Business (Details Narrative) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Dec. 31, 2015
Dec. 31, 2014
Accumulated deficit $ (30,213,445)   $ (30,213,445)   $ (27,045,776)  
Stockholders equity 12,689,220   12,689,220   14,121,584  
Current assets 5,496,506   5,496,506   5,432,031  
Cash 4,938,720 $ 2,872,253 4,938,720 $ 2,872,253 5,187,620 $ 4,301,099
Current liabilities 3,679,324   3,679,324   2,606,680  
Short-term debt to related parties 0   0   410,535  
Trade payables [1] 925,000   925,000   $ 925,000  
Working capital 1,817,182   1,817,182      
Net loss $ (1,182,952) $ (987,855) (2,832,669) (1,624,117)    
Net cash used in operating activities     (324,208) $ (1,896,298)    
Sony Pictures Home Entertainment [Member]            
Proceeds from distribution agreement     $ 2,000,000      
[1] As part of the Merger, 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, 2016, 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. The Company is working with the counterparty to extinguish this liability.