v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities:    
Net Loss $ (76,258,943) $ (5,835,944)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Amortization of Film and Television Costs 117,947 106,614
Depreciation and Amortization Expense 152,323 132,573
Accretion of Discount on Secured Convertible Notes 0 (7,288)
Bad Debt 73,412 0
Stock Issued for Services 41,000 28,000
Share Based Compensation Expense 2,573,148 23,814
Warrant Revaluation Expense 435,876 3,467,961
Lease Modification (66,894) 0
Debt Discount in Excess of the Principal 0 631,852
Warrant Inducive Expense 69,138,527 0
Decrease (Increase) in Operating Assets:    
Accounts Receivable, net 401,153 1,163,565
Prepaid Expenses & Other Assets (1,530,917) (154,466)
Lease Deposits (35,738) 0
Film and Television Costs, net (1,396,180) (70,651)
Increase (Decrease) in Operating Liabilities:    
Accounts Payable 352,945 (125,637)
Accrued Salaries & Wages 133,783 37,979
Deferred Revenue and Advances 97,126 (100,238)
Participations Payable 114,162 90,156
Due to Related Party (1,071) (511,503)
Accrued Expenses (196,932) 127,696
Net Cash Used in Operating Activities (5,855,273) (995,517)
Cash Flows from Investing Activities:    
Investment in Stan Lee Universe, LLC (250,000) 0
Cash Payment for ChizComm, net of cash acquired (7,788,877) 0
Investment in Property & Equipment (16,975) 0
Net Cash Used in Investing Activities (8,055,852) 0
Cash Flows from Financing Activities:    
Increase in Lease Liability, net of Payments 214,596 (68,579)
Proceeds from Sale of Securities Purchase Agreement, net 0 915,296
Proceeds from Warrant Exchange, net 57,264,656 170,000
Proceeds from Senior Secured Convertible Notes, net 0 6,098,000
Repayment of Secured Convertible Notes 0 (2,866,664)
Repayment of Production Facility, net (411,702) (797,609)
Net Cash Provided by Financing Activities 57,067,550 3,450,444
Net Increase in Cash and Cash Equivalents 43,156,425 2,454,927
Beginning Cash and Cash Equivalents 100,456,324 305,121
Ending Cash and Cash Equivalents 143,612,749 2,760,048
Supplemental Disclosures of Cash Flow Information:    
Cash Paid for Interest 0 23,562
Schedule of non-cash financing and investing activites:    
Shares issued for ChizComm acquisition 3,527,027 0
Liability for Acquisition Earnout Shares 7,210,000 0
Warrant Derivative Liability $ 0 $ 10,229,852

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