Quarterly report pursuant to Section 13 or 15(d)

5. Film and Television Costs, Net

v3.19.3
5. Film and Television Costs, Net
9 Months Ended
Sep. 30, 2019
Film And Television Costs Net  
Film and Television Costs, Net

Note 5: Film and Television Costs, Net

 

As of September 30, 2019, the Company had net Film and Television Costs of $9,450,233, compared to $8,166,131 at December 31, 2018. The increase relates primarily to the production and development of Rainbow Rangers season 2 and Llama Llama Season 2, offset by the amortization of film costs associated with the revenue recognized for Thomas Edison’s Secret Lab, Llama Llama Seasons 1 and 2, and Rainbow Rangers season 1.

 

During the three months ended September 30, 2019 and 2018, the Company recorded Film and Television Cost amortization expense of $1,285,237 and $268,425, respectively. During the nine months ended September 30, 2019 and 2018, the Company recorded Film and Television Cost amortization expense of $1,907,222 and $1,033,392, respectively.

 

The following table highlights the activity in Film and Television Costs of September 30, 2019, and December 31, 2018:

 

    Total  
Film and Television Costs, Net as of December 31, 2017   $ 2,777,088  
Cumulative Effect of Adoption of ASC 606     (219,472 )
Additions to Film and Television Costs     6,644,728  
Capitalized Interest     43,510  
Film Amortization Expense     (1,079,723 )
Film and Television Costs, Net as of December 31, 2018     8,166,131  
Additions to Film and Television Costs     3,140,559  
Capitalized Interest     50,765  
Film Amortization Expense     (1,907,222 )
Film and Television Costs, Net as of September 30, 2019   $ 9,450,233