Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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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 $ (8,776,469) $ (3,854,152)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 4,003,835
Amortization of debt discount 64,192
Depreciation and amortization 1,824,465 1,686,182
Impairment of investment in ESA 600,000
Deferred rent 130,087 (87,130)
Changes in operating assets and liabilities:    
Accounts receivable 52,413 (426,506)
Deferred production costs (546,347) (863,892)
Prepaid expenses and other current assets 287,008 3,059
Accounts payable 113,428 515,182
Accrued expenses and other current liabilities 38,475 (48,121)
Accrued interest on convertible debt 618,748
Deferred revenue (908,068) (390,077)
Total Adjustments 5,678,236 988,697
Net Cash Used In Operating Activities (3,098,233) (2,865,455)
Cash Flows From Investing Activities    
Return of Simon investment (3,650,000)
Investment in TV Azteca (1,500,000)
Lease incentive reimbursements 756,846
Purchases of property and equipment (225,567) (452,550)
Investment in ESA (1,238,631)
Purchases of intangible assets (21,985) (69,161)
Net Cash Used In Investing Activities (4,640,706) (1,760,342)
Cash Flows From Financing Activities    
Repayments to Former Parent (136,574)
Proceeds from sale of common stock 5,000,000
Net Cash Provided By (Used In) Financing Activities 5,000,000 (136,574)
Effect of Exchange Rate Changes on Cash   (3,861)
Net Decrease In Cash And Restricted Cash (2,738,939) (4,766,232)
Cash and restricted cash - End of period 9,351,634 5,705,064
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for interest $ 55,178