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 ($)
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash Flows from Operating Activities:    
Net Loss $ (1,649,310) $ (636,262)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Amortization of Film and Television Costs 117,513 0
Depreciation Expense 16,635 11,869
Amortization Expense 19,131 13,741
Imputed Interest Expense 6,141 6,090
Bad Debt Expense 0 (1,550)
Stock Issued for Services 24,000 0
Stock Compensation Expense 564,985 0
(Gain) on Distribution Contracts (9,510) (150,000)
Loss on Deferred Financing Costs 0 9,313
Loss on Impairment of Assets 0 7,500
(Gain) Loss on Foreign Currency Translation (405) 5,341
Decrease (increase) in operating assets    
Accounts Receivable (179,507) (40,065)
Inventory (177) (2,659)
Prepaid Expenses & Other Assets (155,437) (84,499)
Film and Television Costs, net (170,594) (179,047)
Increase (decrease) in operating liabilities    
Accounts Payable 248,628 98,232
Accrued Salaries 11,258 18,036
Deferred Revenue and Advances 1,934,242 (19,277)
Other Accrued Expenses (70,482) 29,342
Net cash provided by (used in) operating activities 707,111 (913,895)
Cash Flows from Investing Activities:    
Investment in Intangible Assets (1,850) (51,110)
Investment in Fixed Assets 0 (123,168)
Net cash used in investing activities (1,850) (174,278)
Cash Flows from Financing Activities:    
Proceeds from Services Advance 0 750,000
Proceeds of Related Party Notes 0 156
Net cash provided by financing activities 0 750,156
Net Increase (Decrease) in Cash and Cash Equivalents 705,261 (338,017)
Beginning Cash and Cash Equivalents 5,187,620 4,301,099
Ending Cash and Cash Equivalents 5,892,881 3,963,082
Supplemental disclosures of cash flow information:    
Cash paid for interest 0 413
Schedule of non-cash financing and investing activites:    
Imputed Dividend on Preferred Stock $ (85,000) $ 0