v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 14,185,031 $ 7,211,826
Accounts receivable, net 13,136,046 16,234,301
Current portion of licensing receivables, net 8,940,688 8,785,636
Physical media inventory 1,609,298 1,711,638
Current portion of notes receivable 1,560,893 747,282
Current portion of digital assets receivable 20,212,926  
Loan guarantee receivable 9,638,416 9,112,500
Prepaid expenses and other 13,376,790 9,146,017
Total current assets 82,660,088 52,949,200
Licensing receivables, net 10,068,216 12,074,629
Notes receivable, net of current portion 4,171,109 4,235,344
Property and equipment, net 683,355 778,927
Content, net 1,911,664 1,710,866
Intangible assets, net 1,898,893 1,917,155
Digital assets 3,272,847 12,457,387
Investments in affiliates 9,217,834 9,066,137
Operating lease right-of-use assets 2,573,176 2,744,693
Digital assets receivable, net of current portion 1,535,410  
Other long-term assets 589,924 589,924
Total assets 118,582,516 98,524,262
Current liabilities:    
Accounts payable 7,859,622 7,929,482
Accrued expenses 14,466,478 13,074,655
Current portion of accrued licensing royalties 17,649,356 15,362,400
Current portion of notes payable 22,163,481 11,455,940
Current portion of operating lease liabilities 692,824 673,295
Deferred revenue 36,012,666 22,171,808
Loan guarantee payable 7,638,416 9,112,500
Current portion of accrued settlement costs 287,244 280,238
Total current liabilities 106,770,087 80,060,318
Accrued settlement costs, net of current portion 4,017,241 4,091,733
Accrued licensing royalties, long-term 8,367,099 8,367,099
Notes payable, net of current portion 3,412,222  
Operating lease liabilities, net of current portion 1,971,697 2,153,463
Total liabilities 124,538,346 94,672,613
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.001 par value, 85,000,000 shares authorized; 27,466,604 and 26,987,787 shares issued and outstanding as of March 31, 2025, and December 31, 2024, respectively 27,466 26,987
Additional paid-in capital 112,917,006 95,472,458
Noncontrolling interests 2,425,339 8,222,953
Accumulated deficit (121,325,641) (99,870,749)
Total stockholders' equity (5,955,830) 3,851,649
Total liabilities and stockholders' equity $ 118,582,516 $ 98,524,262