Dolphin Entertainment Inc
For the period ended Mar 31, 2024. Filed May 15, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 15, 2024
DLPN$0.93+3.5%Stored close · as of Nov 6, 2026
Contents
Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 (unaudited)
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS | ||
| Current | ||
| Cash and cash equivalents | $6,384,459 | $6,432,731 |
| Restricted cash | 1,127,960 | 1,127,960 |
| Accounts receivable: | ||
| Trade, net of allowance of $1,679,972 and $1,456,752, respectively | 8,954,785 | 5,817,615 |
| Other receivables | 5,045,671 | 6,643,960 |
| Other current assets | 737,646 | 701,335 |
| Total current assets | 22,250,521 | 20,723,601 |
| Capitalized production costs, net | 529,215 | 2,295,275 |
| Employee receivable | 844,085 | 796,085 |
| Right-of-use asset | 5,149,182 | 5,599,736 |
| Goodwill | 25,220,085 | 25,220,085 |
| Intangible assets, net | 10,678,817 | 11,209,664 |
| Property, equipment and leasehold improvements, net | 171,968 | 194,223 |
| Other long-term assets | 216,305 | 216,305 |
| Total Assets | $65,060,178 | $66,254,974 |
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| LIABILITIES | ||
| Current | ||
| Accounts payable | $2,215,312 | $6,892,349 |
| Term loan, current portion | 1,022,228 | 980,651 |
| Revolving line of credit | 400,000 | 400,000 |
| Notes payable, current portion | 3,500,000 | 3,500,000 |
| Accrued interest – related party | 1,629,574 | 1,718,009 |
| Accrued compensation – related party | 2,625,000 | 2,625,000 |
| Lease liability, current portion | 2,085,331 | 2,192,213 |
| Deferred revenue | 988,056 | 1,451,709 |
| Other current liabilities | 11,270,739 | 7,694,114 |
| Total current liabilities | 25,736,240 | 27,454,045 |
| Term loan, noncurrent portion | 4,222,270 | 4,501,963 |
| Notes payable | 3,380,000 | 3,380,000 |
| Convertible notes payable | 5,100,000 | 5,100,000 |
| Convertible note payable at fair value | 330,000 | 355,000 |
| Loan from related party | 2,007,873 | 1,107,873 |
| Lease liability | 3,666,840 | 4,068,642 |
| Deferred tax liability | 330,232 | 306,691 |
| Warrant liability | — | 5,000 |
| Other noncurrent liabilities | 18,915 | 18,915 |
| Total Liabilities | 44,792,370 | 46,298,129 |
| Commitments and contingencies (Note 16) | ||
| STOCKHOLDERS’ EQUITY | ||
| Preferred Stock, Series C, $0.001 par value, 50,000 shares authorized, 50,000 shares issued and outstanding at March 31, 2024 and December 31, 2023 | 1,000 | 1,000 |
| Common stock, $0.015 par value, 200,000,000 shares authorized, 18,664,453 and 18,219,531 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively | 279,967 | 273,293 |
| Additional paid-in capital | 153,924,812 | 153,293,756 |
| Accumulated deficit | (133,937,971) | (133,611,204) |
| Total Stockholders’ Equity | 20,267,808 | 19,956,845 |
| Total Liabilities and Stockholders’ Equity | $65,060,178 | $66,254,974 |
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
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