Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (unaudited)

v2.4.0.8
Consolidated Statements of Cash Flows (unaudited) (USD $)
 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash Flows from Operating Activities:    
Net Loss $ (1,994,792) $ (1,489,114)
Adjustments to reconcile net loss to net cash provided in operating activities:    
Depreciation Expense 25,108 5,021
Amortization Expense 28,521 73,154
Imputed Interest Expense 13,370 0
Bad Debt Expense 55,000 0
Accretion of Discount on Convertible Debentures 0 162,244
Issuance of Common Stock for Interest Expense 0 40,000
Issuance of Common Stock for Services 0 155,544
Stock Compensation Expense 0 160,267
Prepaid Consulting Service Expense 190,469 0
(Gain) Loss on Conversion of Accounts Payable 4,072 0
(Gain) Loss on Settlement or Extinguishment of Debt (56,519) 0
(Gain) Loss on Derivative Valuation 0 (10,757)
(Gain) Loss on Distribution Contracts 47,229 0
(Gain) Loss on Disposition of Assets 70,905 0
(Gain) Loss on Inventory 174,963 0
Decrease (increase) in operating assets:    
Accounts Receivable 511,879 747,409
Inventory (83,233) 25,986
Prepaid Expenses & Other Assets 68,723 (6,492)
Film and Television Costs, net (112,575) 0
Increase (decrease) in operating liabilities:    
Accounts Payable (371,183) (68,795)
Accrued Salaries 2,830 271,219
Accrued Interest - Related Party 0 13,534
Other Accrued Expenses 190,787 (165,138)
Net cash provided/(used) in operating activities (1,234,446) (85,918)
Cash Flows from Investing Activities:    
Investment in Capitalized Product Development (16,330) 0
Investment in Intangible Assets (70,000) (172,518)
Investment in Fixed Assets (3,151) 0
Net cash provided/(used) by investing activities (89,481) (172,518)
Cash Flows from Financing Activities:    
Sale of Preferred Stock, net of offering costs 5,379,915 0
Sale of Common Stock, net of offering costs 355,116 0
Proceeds from Services Advance 750,000 0
Repayment of Services Advance (8,242) 0
Issuance Costs on Debenture 0 64,278
Payments of Related Party Notes (103,766) 0
Net cash provided/(used) by financing activities 6,373,023 64,278
Net increase in Cash and Cash Equivalents 5,049,096 (194,158)
Beginning Cash and Cash Equivalents 527,110 447,548
Ending Cash and Cash Equivalents 5,576,206 253,390
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 0 0
Cash paid for interest 2,230 40,000
Schedule of non-cash financing and investing activites:    
Common Stock issued as Settlement for Accounts Payable 32,572 0
Common Stock issued for Prepaid Services $ 113,998 $ 0