v3.19.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities:    
Net Loss $ (9,277,867) $ (5,275,101)
Adjustments to reconcile net loss to net cash Provided in Operating Activities:    
Amortization of Film and Television Costs 1,907,222 1,033,392
Depreciation and Amortization Expense 216,410 69,530
Accretion of Discount on Secured Convertible Notes 288,609 399,123
Bad Debt 0 2,400
Stock Issued for Services 119,798 0
Stock Compensation Expense 142,420 113,405
Loss on Extinguished Debt 4,432,819 0
Decrease (Increase) in Operating Assets    
Accounts Receivable, net (1,761,137) 2,054,496
Other Receivable 18,592 256,872
Inventory, net 3,298 1,407
Prepaid Expenses & Other Assets (143,932) (204,437)
Lease Deposits (43,001) (325,000)
Film and Television Costs, net (2,324,023) (3,014,150)
Increase (Decrease) in Operating Liabilities    
Accounts Payable 182,577 (92,751)
Accrued Salaries and Wages 104,594 (36,998)
Deferred Revenue 5,859 (85,610)
Participations Payable 1,220,536 304,217
Due To Related Party 134,800 0
Accrued Expenses 136,010 (687,503)
Net Cash Used in Operating Activities (4,636,416) (5,486,708)
Cash Flows from Investing Activities:    
Investment in Intangible Assets, net 0 (21,358)
Investment in Property and Equipment (26,976) (21,628)
Net Cash Used in Investing Activities (26,976) (42,986)
Cash Flows from Financing Activities:    
Payments on Lease Liability (115,567) 0
Proceeds from Sale of Securities Purchase Agreement, net 1,757,552 1,596,341
Proceeds From Warrant Exchange 668,558 0
Repayment of Secured Convertible Notes (970,834) 4,186,054
Repayment of Production Facility, Net 872,218 (2,676,748)
Net Cash Provided by (used in) Financing Activities 2,211,927 3,105,647
Net Decrease in Cash, Cash Equivalents, and Restricted Cash (2,451,465) (2,424,047)
Beginning Cash, Cash Equivalents, and Restricted Cash 3,085,026 7,498,073
Ending Cash, Cash Equivalents, and Restricted Cash 633,561 5,074,026
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 435,129 104,758
Schedule of non-cash financing and investing activites:    
Issuance of Common Stock for production services 457,301 1,563,002
Beneficial Conversion Feature 2,008,907 353,333
Capitalization of Operating Lease Right to Use Asset $ 2,245,093 $ 0

Source