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 ($)
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities:    
Net Loss $ (92,906,971) $ (391,101,155)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Amortization of Film and Television Costs 1,073,154 395,073
Depreciation and Amortization Expense 425,891 379,047
Right of Use Asset Amortization 202,020 0
Amortization of Premium on Marketable Securities 333,716 0
Accretion of Discount on Secured Convertible Notes 0 (7,288)
Bad Debt (76,078) 92,659
Stock Issued for Services 41,000 350,501
Share Based Compensation Expense 11,120,187 764,137
Warrant Revaluation (Gain) Loss (103,046) 210,672,085
Loss on Lease Termination 0 342,060
Conversion Option Revaluation Expense 0 171,835,729
Debt Discount in Excess of the Principal 0 1,031,852
Warrant Incentive Expense 69,138,527 0
Realized Loss on Marketable Securities 24,779 0
Decrease (Increase) in Operating Assets:    
Accounts Receivable, net 3,046,597 1,608,314
Other Receivable (179,026) 0
Inventory, net 0 9,277
Prepaid Expenses & Other Assets (631,240) (55,750)
Lease Deposits (23,348) 325,000
Film and Television Costs, net (4,809,700) (1,789,000)
Increase (Decrease) in Operating Liabilities:    
Accounts Payable (2,886,249) (458,974)
Accrued Salaries & Wages 183,118 111,961
Deferred Revenue (493,538) 197,054
Participations Payable 787,929 381,212
Lease Liability (136,085) (159,247)
Due to Related Party 228,511 (432,864)
Accrued Expenses (325,499) 32,491
Net Cash Used in Operating Activities (15,965,351) (5,475,826)
Cash Flows from Investing Activities:    
Investment in Stan Lee Universe, LLC (1,000,000) (500,000)
Cash Payment for ChizComm, net of cash acquired (7,788,877) 0
Investment in Marketable Securities (305,387,221) 0
Proceeds from Principal Collections on Marketable Securities 1,762,148 0
Proceeds from Sales of Marketable Securities 177,109,646 0
Investment in Intangible Assets, net (8,200) (22,500)
Investment in Property & Equipment (209,191) (32,426)
Net Cash Used in Investing Activities (135,521,695) (554,926)
Cash Flows from Financing Activities:    
Proceeds from Sale of Securities Purchase Agreement, net 0 44,755,671
Proceeds From Warrant Exchange 57,264,656 5,874,329
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)
Proceeds from Notes Payable 116,195 0
Note Conversion Costs 0 (55,186)
Repayment of Production Facility, net (1,099,713) (1,585,220)
Net Cash Provided by Financing Activities 55,914,871 56,187,197
Net (Decrease)/Increase in Cash and Cash Equivalents (95,572,175) 50,156,445
Beginning Cash and Cash Equivalents 100,456,324 305,121
Ending Cash and Cash Equivalents 4,884,149 50,461,566
Supplemental Disclosures of Cash Flow Information:    
Cash Paid for Interest 15,565 468,468
  Schedule of Non-Cash Financing and Investing Activities    
Issuance of common stock for services 728,000 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