v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 27,999,679 $ 7,211,826
Accounts receivable, net 20,911,417 16,234,301
Current portion of licensing receivables, net 8,785,563 8,785,636
Physical media inventory 1,474,442 1,711,638
Current portion of notes receivable 1,424,394 747,282
Digital assets receivable 28,750,840  
Loan guarantee receivable 10,018,409 9,112,500
Prepaid expenses and other 9,768,056 9,146,017
Total current assets 109,132,800 52,949,200
Licensing receivables, net 8,011,726 12,074,629
Notes receivable, net of current portion 4,091,765 4,235,344
Property and equipment, net 616,105 778,927
Content, net 1,865,725 1,710,866
Intangible assets, net 1,880,631 1,917,155
Digital assets 3,722,670 12,457,387
Investments in affiliates 12,135,380 9,066,137
Operating lease right-of-use assets 2,544,912 2,744,693
Other long-term assets 4,089,924 589,924
Total assets 148,091,638 98,524,262
Current liabilities:    
Accounts payable 7,829,464 7,929,482
Accrued expenses 19,243,682 13,074,655
Current portion of accrued licensing royalties 21,775,937 15,362,400
Current portion of notes payable 29,637,300 11,455,940
Current portion of operating lease liabilities 782,081 673,295
Deferred revenue 40,110,763 22,171,808
Loan guarantee payable 4,018,409 9,112,500
Current portion of accrued settlement costs 294,426 280,238
Total current liabilities 123,692,062 80,060,318
Accrued settlement costs, net of current portion 3,940,886 4,091,733
Accrued licensing royalties, long-term 5,033,766 8,367,099
Notes payable, net of current portion 5,772,849  
Operating lease liabilities, net of current portion 1,859,987 2,153,463
Total liabilities 140,299,550 94,672,613
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.001 par value, 85,000,000 shares authorized; 28,500,548 and 26,987,787 shares issued and outstanding as of June 30, 2025, and December 31, 2024, respectively 28,500 26,987
Additional paid-in capital 140,129,379 95,472,458
Noncontrolling interests 4,842,372 8,222,953
Accumulated deficit (137,208,163) (99,870,749)
Total stockholders' equity 7,792,088 3,851,649
Total liabilities and stockholders' equity $ 148,091,638 $ 98,524,262