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, 2015
Jun. 30, 2014
Cash Flows from Operating Activities:    
Net Loss $ (1,624,117) $ (1,994,792)
Adjustments to reconcile net loss to net cash provided in operating activities:    
Depreciation Expense 29,827 25,108
Amortization Expense 30,323 28,521
Imputed Interest Expense 12,319 13,370
Bad Debt Expense (Recovery) (1,550) 55,000
Prepaid Consulting Services Expense 0 190,469
(Gain) Loss on Distribution Contracts (150,000) 47,229
(Gain) Loss on Deferred Financing Costs 9,313 0
(Gain) Loss on Impairment of Assets 7,500 70,905
(Gain) Loss on Foreign Currency Translation 36,237 0
(Gain) Loss on Settlement of Accounts Payable 0 (52,447)
(Gain) Loss on Inventory 0 174,963
Decrease (Increase) in Operating Assets:    
Accounts Receivable 137,368 511,879
Inventory (2,354) (83,233)
Prepaid Expenses & Other Assets 11,548 68,723
Film and Television Costs, net (412,512) (112,575)
Increase (Decrease) in Operating Liabilities:    
Accounts Payable (79,567) (371,183)
Accrued Salaries 37,765 2,830
Deferred Revenue and Advances 58,006 245,495
Other Accrued Expenses 3,596 (54,708)
Net Cash Used in Operating Activities (1,896,298) (1,234,446)
Cash Flows from Investing Activities:    
Investment in Intangible Assets (102,220) (70,000)
Investment in Fixed Assets (180,853) (3,151)
Investment in Capitalized Product Development 0 (16,330)
Net Cash Used in Investing Activities (283,073) (89,481)
Cash Flows from Financing Activities:    
Sale of Preferred Stock, net of offering costs 0 5,379,915
Sale of Common Stock, net of offering costs 0 355,116
Proceeds from Services Advance 750,000 750,000
Repayment of Services Advance 0 (8,242)
Proceeds of Related Party Notes 525 0
Payments of Related Party Notes 0 (103,766)
Net Cash Provided by Financing Activities 750,525 6,373,023
Net Increase (Decrease) in Cash and Cash Equivalents (1,428,846) 5,049,096
Beginning Cash and Cash Equivalents 4,301,099 527,110
Ending Cash and Cash Equivalents 2,872,253 5,576,206
Supplemental Disclosures of Cash Flow Information:    
Cash Paid for Income Taxes 0 0
Cash Paid for Interest 1,076 2,230
Schedule of Non-Cash Financing and Investing Activities:    
Common Stock Issued as Settlement for Accounts Payable 0 32,572
Common Stock Issued for Prepaid Services $ 0 $ 113,998