Quarterly report pursuant to sections 13 or 15(d)

Consolidated Balance Sheets (unaudited)

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Consolidated Balance Sheets (unaudited) (USD $)
Mar. 31, 2014
Dec. 31, 2013
Current Assets:    
Cash and Cash Equivalents $ 992,753 $ 527,110
Accounts Receivable, net 296,289 893,826
Inventory 264,548 224,351
Prepaid and Other Assets 605,750 582,056
Total Current Assets 2,159,340 2,227,343
Property and Equipment, net 66,278 78,748
Film and Television Costs 89,819 0
Capitalized Product Development in Process 67,030 54,575
Intangible Assets, net 1,903,637 1,865,706
Goodwill 10,365,806 10,365,806
Investment in Stan Lee Comics, LLC 0 0
Total Assets 14,651,910 14,592,177
Current Liabilities:    
Accounts Payable 647,525 889,919
Accrued Expenses 740,992 704,539
Accrued Salaries and Wages 72,815 59,958
Disputed Trade Payable 925,000 [1] 925,000 [1]
Short Term Debt - Related Party 415,787 516,659
Total Current Liabilities 2,802,119 3,096,075
Long Term Liabilities:    
Services Advance 750,000 [2] 0
Total Liabilities 3,552,119 3,096,075
Stockholders' Equity (Deficit)    
Preferred Stock, $0.001 par value, 10,000,000 share authorized, 0 shares issued and outstanding 0 0
Common Stock, $0.001 par value, 700,000,000 shares authorized, respectively; 6,047,707 and 5,918,704 shares issued and outstanding, respectively 6,048 5,919
Additional Paid in Capital 29,371,960 28,914,238
Accumulated Deficit (18,278,217) (17,424,055)
Total Equity (Deficit) 11,099,791 11,496,102
Total Liabilities & Stockholders' Equity (Deficit) $ 14,651,910 $ 14,592,177
[1] As part of the Merger, the Company assumed certain liabilities from a previous member of A Squared Entertainment, LLC which has claimed certain liabilities totaling $925,000. The Company disputes the basis for this liability and has not heard from the claimant for two years.
[2] During the three months ended March 31, 2014, the Company entered into an exclusive long-term agreement with Sony DADC, the optical disc manufacturing and fulfillment arm of Sony, to provide all CD, DVD and BD replication, packaging and distribution to Genius Brands International's direct customers. Under the terms of the long-term, exclusive supply chain services agreement, the Company will order a minimum level of disc replication, packaging and distribution services for its content across all physical media, including DVD, CD, and Blu-ray from Sony DADC. As consideration for these minimum order levels, the Company will receive a total of $1,500,000, $750,000 of which was received during the first quarter of 2014 with the remaining $750,000 due by January 17, 2015.