v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities:    
Net Loss $ (391,101,155) $ (9,277,867)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Amortization of Film and Television Costs 395,073 1,907,222
Depreciation and Amortization Expense 379,047 216,410
Accretion of Discount on Secured Convertible Notes (7,288) 288,609
Bad Debt 92,659 0
Stock Issued for Services 350,501 119,798
Share Based Compensation Expense 764,137 142,420
Warrant Revaluation Expense 210,672,085 0
Loss On Lease Termination 342,060 0
Loss on Extinguished Debt 0 4,432,819
Conversion Option Revaluation Expense 171,835,729 0
Debt Discount in Excess of the Principal 1,031,852 0
Decrease (Increase) in Operating Assets:    
Accounts Receivable, net 1,608,314 (1,761,137)
Other Receivable 0 18,592
Inventory, net 9,277 3,298
Prepaid Expenses & Other Assets (55,750) (143,932)
Lease Deposits 325,000 (43,001)
Film and Television Costs, net (1,789,000) (2,324,023)
Increase (Decrease) in Operating Liabilities:    
Accounts Payable (458,974) 182,577
Accrued Salaries & Wages 111,961 104,594
Deferred Revenue 197,054 5,859
Participations Payable 381,212 1,220,536
Due To Related Party (432,864) 134,800
Accrued Expenses 32,491 136,010
Net Cash Used in Operating Activities (5,316,579) (4,636,416)
Cash Flows from Investing Activities:    
Investment in Stan Lee Universe, LLC (500,000) 0
Investment in Intangible Assets (22,500) 0
Investment in Property & Equipment (32,426) (26,976)
Net Cash Used in Investing Activities (554,926) (26,976)
Cash Flows from Financing Activities:    
Payments on Lease Liability (159,247) (115,567)
Proceeds from Sale of Securities Purchase Agreement, net 44,755,671 1,757,552
Proceeds From Warrant Exercises 5,874,329 668,558
Proceeds from Senior Secured Convertible Notes, net 6,098,000 0
Proceeds from Payroll Protection Program 366,267 0
Collection of Investor Notes 3,600,000 0
Repayment of Secured Convertible Notes (2,866,664) (970,834)
Note Conversion Costs (55,186) 0
Repayment of Production Facility, net (1,585,220) 872,218
Net Cash Provided by Financing Activities 56,027,950 2,211,927
Net Increase/(Decrease) in Cash, Cash Equivalents, and Restricted Cash 50,156,445 (2,451,465)
Beginning Cash, Cash Equivalents, and Restricted Cash 305,121 3,085,026
Ending Cash, Cash Equivalents, and Restricted Cash 50,461,566 633,561
Supplemental Disclosures of Cash Flow Information:    
Cash Paid for Interest 468,468 435,129
Schedule of non-cash financing and investing activites:    
Issuance of Common Stock for production services 0 457,301
Beneficial Conversion Feature 0 2,008,907
Senior Convertible notes were converted into 65,476,190 shares of Common Stock 58,522,601 warrants were exercised on a cashless basis resulting in the issuance of 52,551,716 shares of Common Stock $ 13,750,000 $ 0

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