Investment in CONtv Joint Venture

6 Months Ended

Jun. 30, 2015

Investment In Contv Joint Venture

Investment in CONtv Joint Venture

Note 4 – Investment in CONtv Joint Venture

On August 27, 2014, the Company entered into a Joint Venture and executed an Operating Agreement with Cinedigm, ROAR and Bristol Capital. The Company owns a 47.50% interest in the newly formed entity, CONtv. The Company is accounting for the interest in the joint venture utilizing the equity method of accounting. For the three and six months ended June 30, 2015, the Company recognized $466,960 and $898,436 in losses from this venture, respectively.

As of June 30, 2015, the investment in CONtv was as follows:

Investment in CONtv – December 31, 2014	$	117,507
Investment into CONtv		982,221
Loss on CONtv for the six months ended June 30, 2015		(898,436	)
Investment in CONtv – June 30, 2015	$	201,292

As of June 30, 2015 and December 31, 2014, the Company has a balance due to CONtv of $341,761 and $313,412, respectively, an increase of $28,349.