XML 17 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash $ 2,403,761 $ 3,768,897
Restricted cash 0 2,994,364
Accounts receivable, net 3,094,770 1,689,415
Licensed content, current 711,683 556,591
Prepaid expenses 512,445 362,421
Deferred issuance cost 0 551,218
Other current assets 159,482 157,594
Total current assets 6,882,141 10,080,500
Property and equipment, net 93,589 154,434
Licensed content, non-current 17,726,840 21,085
Intangible assets, net 2,591,122 2,412,591
Goodwill 6,648,911 6,648,911
Long term investments 6,118,445 450,115
Other non-current assets 2,124,417 58,089
Total assets 42,185,465 19,825,725
Current liabilities:    
Accounts payable (including accounts payable of consolidated variable interest entities (“VIEs”) without recourse to the Company of $651,254 and $44,867 as of June 30, 2016 and December 31, 2015, respectively) 651,254 45,788
Deferred revenue (including deferred revenue of VIEs without recourse to the Company of $1,232 and $15,080 as of June 30, 2016 and December 31, 2015, respectively) 1,232 15,080
Accrued expenses (including accrued expenses of VIEs without recourse to the Company of $390,176 and $280,038 as of June 30, 2016 and December 31, 2015, respectively) 1,440,228 1,196,066
Accrued salaries (including accrued salaries of VIEs without recourse to the Company of nil and $10,861 as of June 30, 2016 and December 31, 2015, respectively) 1,344,883 1,058,124
Other current liabilities (including other current liabilities of VIEs without recourse to the Company of $361,908 and $298,422 as of June 30, 2016 and December 31, 2015, respectively) 521,374 312,170
Accrued license content fees (including accrued license content fees of VIEs without recourse to the Company of $1,518,112 and $933,532 as of June 30, 2016 and December 31, 2015, respectively) 1,518,112 933,532
Convertible promissory notes 3,000,000 3,000,000
Warrant liabilities 251,611 395,217
Deposit payable 0 2,994,364
Total current liabilities 8,728,694 9,950,341
Deferred income taxes 312,900 330,124
Total liabilities 9,041,594 10,280,465
Commitments and contingencies 0 0
Equity:    
Common stock $0.001 par value; 1,500,000,000 shares authorized, 38,170,204 and 24,249,109 shares issued and outstanding as of June 30, 2016 and December 31, 2015, respectively 38,170 24,249
Additional paid-in capital 125,179,330 97,512,542
Accumulated deficit (90,182,400) (86,457,840)
Accumulated other comprehensive loss (632,980) (414,910)
Total YOU On Demand shareholder's equity 34,409,275 10,671,296
Non-controlling interest (2,527,399) (2,388,031)
Total equity 31,881,876 8,283,265
Total liabilities, convertible redeemable preferred stock and equity 42,185,465 19,825,725
Series A Preferred Stock [Member]    
Convertible redeemable preferred stock:    
Series A - 7,000,000 shares issued and outstanding, liquidation and deemed liquidation preference of $3,500,000 as of June 30, 2016 and December 31, 2015, respectively 1,261,995 1,261,995
Series E Preferred Stock [Member]    
Equity:    
Series E Preferred Stock - $0.001 par value; 16,500,000 shares authorized, 7,154,997 and 7,254,997 shares issued and outstanding, liquidation preference of $12,521,245 and $12,696,245 as of June 30, 2016 and December 31, 2015, respectively $ 7,155 $ 7,255