Kartoon Studios Inc
For the period ended Dec 31, 2023. Filed Apr 9, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Apr 9, 2024
TOON$0.49-3.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(in thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash Flows from Operating Activities: | ||
| Net Loss | $(77,202) | $(44,529) |
| Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities: | ||
| Amortization of Film and Television Costs | 625 | 6,180 |
| Depreciation and Amortization of Property, Equipment & Intangible Assets | 2,549 | 2,711 |
| Amortization of Right-of-Use Asset | 2,782 | 2,024 |
| Amortization of Premium on Marketable Securities | 391 | 1,055 |
| Share Based Compensation Expense | 2,671 | 10,895 |
| Impairment of Film and Television Costs | 6,911 | 6,816 |
| Impairment of Intangible Assets | 4,413 | 4,117 |
| Impairment of Goodwill | 33,534 | 4,857 |
| Unrealized Loss on Foreign Currency for Goodwill | 287 | – |
| Impairment of Property and Equipment | 134 | – |
| Loss on Early Lease Termination | 258 | – |
| Warrant Expense | 12,664 | – |
| Deferred Income Taxes | (973) | (45) |
| Marketing Expenses in Exchange for Stock | 1,195 | – |
| Gain on Revaluation of Equity Investments in Your Family Entertainment AG | (2,314) | (1,392) |
| Unrealized (Gain) Loss on Foreign Currency of Equity Investments in Your Family Entertainment AG | (533) | 1,380 |
| Gain on Warrant Revaluation | (10,373) | (557) |
| Realized Loss on Marketable Securities | 4,496 | 413 |
| Write-Off of Contingent Consideration Liability | – | (1,340) |
| Write-off of Disputed Trade Payable | (925) | – |
| Stock Issued for Services | 1,105 | 312 |
| Credit Loss Expense | 401 | 337 |
| Other Non-Cash Items | (2) | 18 |
| Decrease (Increase) in Operating Assets: | ||
| Accounts Receivable, net | (2,572) | 1,681 |
| Other Receivable | 1,066 | 347 |
| Tax Credits Earned (less capitalized) | (14,806) | (13,663) |
| Tax Credits Received, net | 20,621 | 9,513 |
| Film and Television Costs, net | (1,037) | (8,044) |
| Prepaid Expenses and Other Assets | 622 | 1,283 |
| Increase (Decrease) in Operating Liabilities: | ||
| Accounts Payable | 5,346 | 2,751 |
| Accrued Salaries & Wages | (592) | 191 |
| Accrued Expenses | (277) | (1,958) |
| Accrued Production Costs | 1,092 | (1,478) |
| Participations Payable | (1,067) | (784) |
| Deferred Revenue | (5,937) | (8,315) |
| Lease Liability | (622) | (613) |
| Due to Related Party | (4) | (61) |
| Other Liabilities | (19) | (25) |
| Net Cash Used in Operating Activities | $(16,092) | $(25,923) |
| Cash Flows from Investing Activities: | ||
| Cash Payment for Wow, net of Cash Acquired | – | (37,311) |
| Cash Payment for Equity Investment in Your Family Entertainment | – | (9,540) |
| Cash Payment for Ameba, net of Cash Acquired | – | (3,893) |
| Repayments from/(Loans to) Related Party for Note Receivables | 1,333 | (1,567) |
| Proceeds from Principal Collections on Marketable Securities | 460 | 7,876 |
| Proceeds from Sales and Maturities of Marketable Securities | 72,137 | 14,112 |
| Investment in Intangible Assets, net | – | (22) |
| Purchase of Property & Equipment | (72) | (592) |
| Net Cash Provided by (Used in) Investing Activities | $73,858 | (30,937) |
| Cash Flows from Financing Activities: | ||
| Proceeds from Margin Loan | 21,160 | 68,826 |
| Repayments of Margin Loan | (81,169) | (13,479) |
| Proceeds from Production Facilities | 12,932 | 11,359 |
| Repayment of Production Facilities | (17,667) | (9,383) |
| Proceeds from Bank Indebtedness, net | 1,122 | 225 |
| Proceeds from Warrant Exchange, net | 5,299 | – |
| Principal Payments on Finance Lease Obligations | (2,162) | (1,310) |
| Debt Issuance Costs | (18) | (54) |
| Distributions to Non-Controlling Interest | – | (1,200) |
| Repurchase of Common Stock | – | (285) |
| Shares Withheld for Taxes on Vested Restricted Shares | (49) | (5) |
| Payment for Warrant Put Option Exercise | (250) | (250) |
| Net Cash Provided by (Used in) Financing Activities | $(60,802) | 54,444 |
| Effect of Exchange Rate Changes on Cash | (301) | (212) |
| Net Decrease in Cash | (3,337) | (2,628) |
| Beginning Cash | 7,432 | 10,060 |
| Ending Cash | $4,095 | $7,432 |
| Supplemental Disclosures of Cash Flow Information | ||
| Cash Paid for Interest | $1,822 | $252 |
| Cash Paid for Taxes | $64 | $19 |
| Non-Cash Operating Activities | ||
| Reduction in Leased Asset Due to Modified Lease Liability | $219 | $– |
| Non-Cash Financing and Investing Activities | ||
| Leased Assets Obtained in Exchange for New Finance Lease Liabilities | $1,432 | $582 |
| Warrants Issued for Services | $443 | $– |
| Shares Issued for Wow Acquisition | $– | $11,554 |
| Fair Value of Replacement Options Granted Related to Wow Acquisition | $– | $1,213 |
| Warrant Modification | $3,510 | $– |
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