Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.3.1.900
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Revenues:    
Licensing & Royalties $ 492,134 $ 310,845
Television & Home Entertainment 400,676 117,670
Product Sales 15,173 497,273
Total Revenues 907,983 925,788
Cost of Sales 72,867 500,000
Gross Profit 835,116 425,788
Operating Expenses:    
Professional Services 723,249 953,463
Rent Expense 140,407 140,070
Marketing & Sales 420,399 338,598
Amortization of Film & TV Costs 127,551 0
Depreciation & Amortization 133,911 109,753
Salaries and Related Expenses 1,907,608 1,432,314
Stock Compensation Expense 31,919 0
Bad Debt Expense (Recovery) 42,739 73,458
Other General and Administrative 843,677 854,595
Total Operating Expenses 4,371,460 3,902,251
Loss from Operations (3,536,344) (3,476,463)
Other Income (Expense):    
Other Income 18,870 34,700
Interest Expense (2,576) (11,750)
Interest Expense - Related Parties (24,757) (25,842)
Gain (Loss) on Distribution Contracts 115,811 (47,229)
Gain (Loss) on Impairment of Assets (7,500) 0
(Gain) loss on Conversion of Accounts Payable 0 (4,072)
Gain (Loss) on Extinguishment of Debt 0 56,519
Gain (Loss) on Disposition of Assets 0 (70,905)
Gain (Loss) on Inventory 0 (174,963)
Gain (Loss) on Deferred Financing Costs (9,313) 0
Unrealized Gain (Loss) on Foreign Currency Translation (37,313) (8,594)
Net Other Income (Expense) 53,222 (252,136)
Loss before Income Tax Expense (3,483,122) (3,728,599)
Income Tax Expense 0 0
Net Loss (3,483,122) (3,728,599)
Beneficial conversion feature on preferred stock (400,000) 0
Net Loss applicable to common shareholders $ (3,883,122) $ (3,728,599)
Net Loss per Common Share $ (.54) $ (0.60)
Weighted Average Shares Outstanding 7,502,560 6,254,497