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Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from Operating Activities:    
Net loss $ (10,505,962) $ (2,773,430)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation 244,835 215,847
Amortization of programming costs and rights 110,629 61,798
Amortization of deferred financing costs 10,152 25,823
Amortization and depreciation of intangible and fixed assets 5,204,728 205,623
Amortization of film library 2,441,081 871,126
Bad debt and video return expense 1,721,595 300,403
Deferred income taxes 0 (465,000)
Changes in operating assets and liabilities:    
Trade accounts receivable 7,921,601 2,235,012
Prepaid expenses and other current assets (21,984) (135,279)
Inventory (26,899) (24,533)
Programming costs and rights (1,144,463) (147,605)
Film library (6,553,534) (2,819,734)
Accounts payable, accrued expenses and other payables (207,552) (1,218,678)
Film library acquisition obligations 1,888,500 273,250
Accrued participation costs 794,876 (32,015)
Other liabilities 59,740 (350,400)
Deferred revenue 0 6,469
Net cash provided by (used in) operating activities 1,937,343 (3,771,323)
Cash flows from Investing Activities:    
Expenditures for property and equipment (340,586) 0
Decrease (increase) in due from affiliated companies 851,452 (1,985,500)
Net cash provided by (used in) investing activities 510,866 (1,985,500)
Cash flows from Financing Activities:    
Repayments of commercial loan (800,000) (260,358)
Payment of preferred stock issuance costs 0 (288,160)
Proceeds from issuance of Series A preferred stock 0 3,500,000
Dividends paid to preferred stockholders (974,272) (603,307)
Net cash (used in) provided by financing activities (1,774,272) 2,348,175
Net increase (decrease) in cash and cash equivalents 673,937 (3,408,648)
Cash and cash equivalents at beginning of period 6,447,402 7,201,758
Cash and cash equivalents at end of the period 7,121,339 3,793,110
Supplemental data:    
Interest paid $ 217,222 $ 117,453