Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current Assets:    
Cash and Cash Equivalents $ 6,223,073 $ 6,929,399
Restricted Cash 237 568,673
Accounts Receivable, net 2,314,983 2,893,902
Other Receivable 0 160,545
Inventory, net 17,053 17,589
Prepaid and Other Assets 299,618 264,818
Total Current Assets 8,854,964 10,834,926
Property and Equipment, net 77,705 94,666
Accounts Receivable 1,125,000 1,687,500
Other Receivables 0 96,327
Film and Television Costs, net 4,336,217 2,777,088
Lease Deposits 358,103 0
Intangible Assets, net 1,864,639 1,856,280
Goodwill 10,365,805 10,365,805
Total Assets 26,982,433 27,712,592
Current Liabilities:    
Accounts Payable 458,372 453,201
Accrued Expenses [1] 2,405,987 1,717,970
Deferred Revenue 294,884 453,927
Accrued Salaries and Wages 174,227 168,549
Disputed Trade Payable [2] 925,000 925,000
Total Current Liabilities 4,258,470 3,718,647
Long Term Liabilities:    
Deferred Revenue 4,440,956 4,631,456
Production Loan Facility, net 2,689,320 4,322,643
Total Liabilities 11,388,746 12,672,746
Stockholders' Equity:    
Preferred Stock, $0.001 par value, 10,000,000 shares authorized, respectively; 3,530 and 3,530 shares issued and outstanding, respectively 4 4
Common Stock, $0.001 par value, 233,333,334 shares authorized, respectively; 8,202,794 and 7,610,794 shares issued and outstanding, respectively 8,203 7,611
Common Stock to Be Issued 24 24
Additional Paid in Capital 58,232,423 56,588,822
Accumulated Deficit (42,641,849) (41,551,497)
Accumulated Other Comprehensive (Loss) (5,118) (5,118)
Total Equity 15,593,687 15,039,846
Total Liabilities & Stockholders' Equity $ 26,982,433 $ 27,712,592
[1] Other Accrued Expenses include estimates of expenses incurred but not yet recorded. The increase in Other Accrued Expenses from the year ended December 31, 2016 to December 31, 2017 relates to estimates of final dubbing costs and participation expense related to our Llama Llama property.
[2] As part of the Merger in 2013, 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. As of March 31, 2017, the Company believes that the statute of limitations applicable to the assertion of any legal claim relating to the collection of these liabilities has expired and therefore believes this liability is uncollectible. The Company is working with the counterparty to extinguish this liability.