Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.3.1.900
Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current Assets:    
Cash and Cash Equivalents $ 5,187,620 $ 4,301,099
Accounts Receivable, net 171,867 208,486
Inventory, net 7,080 11,691
Prepaid and Other Assets 65,464 217,622
Total Current Assets 5,432,031 4,738,898
Property and Equipment, net 150,948 32,420
Film and Television Costs 1,003,546 303,953
Capitalized Product Development in Process 0 7,500
Intangible Assets, net 1,918,206 1,876,438
Goodwill 10,365,805 10,365,805
Investment in Stan Lee Comics, LLC 0 0
Total Assets 18,870,536 17,325,014
Current Liabilities:    
Accounts Payable 359,433 312,728
Accrued Expenses 509,477 283,582
Deferred Revenue and Advances 305,850 242,160
Accrued Salaries and Wages 96,385 50,288
Disputed Trade Payable [1] 925,000 925,000
Short Term Debt - Related Party 410,535 411,008
Total Current Liabilities 2,606,680 2,224,766
Long Term Liabilities:    
Deferred Revenue and Advances 652,689 640,417
Services Advance [2] 1,489,583 739,583
Total Liabilities 4,748,952 3,604,766
Stockholders' Equity (Deficit)    
Preferred Stock, $0.001 par value, 10,000,000 share authorized, respectively; 5,290 and 6,000 shares issued and outstanding, respectively 6 6
Common Stock, $0.001 par value, 700,000,000 shares authorized, respectively; 11,259,450 and 6,374,450 shares issued and outstanding, respectively $ 11,260 $ 6,375
Common Stock to Be Issued 71 0
Additional Paid in Capital $ 41,846,023 $ 34,866,521
Accumulated Deficit (27,735,776) (21,152,654)
Total Equity 14,121,584 13,720,248
Total Liabilities & Stockholders' Equity $ 18,870,536 $ 17,325,014
[1] As part of the Merger, the Company assumed certain liabilities from a previous member of A Squared which has claimed certain liabilities totaling $925,000. The Company disputes the basis for this liability.
[2] During the first quarter of 2014, the Company entered into an exclusive three year 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 received a total of $1,500,000, $750,000 during the first quarter of 2014 and $750,000 during the first quarter of 2015. At the end of the term, the Company is obligated to repay a pro-rata portion of the advance if it has not ordered a minimum number of DVD/CD units during the term.