Kartoon Studios Files Q1 2024 10-Q
Ticker: TOON · Form: 10-Q · Filed: May 15, 2024 · CIK: 1355848
| Field | Detail |
|---|---|
| Company | Kartoon Studios, Inc. (TOON) |
| Form Type | 10-Q |
| Filed Date | May 15, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.001, $250,000, $500,000, $1.0 billion |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
Kartoon Studios (formerly Genius Brands) dropped its Q1 2024 10-Q. Check financials.
AI Summary
Kartoon Studios, Inc. filed its 10-Q for the period ending March 31, 2024. The company, formerly known as Genius Brands International, Inc., reported its financial performance for the first quarter of 2024. The filing details various financial statements and disclosures relevant to investors.
Why It Matters
This filing provides investors with the latest financial performance data for Kartoon Studios, Inc., crucial for understanding the company's current operational health and future prospects.
Risk Assessment
Risk Level: medium — As a publicly traded company filing a 10-Q, there are inherent risks associated with financial reporting and market performance.
Key Players & Entities
- Kartoon Studios, Inc. (company) — Filer of the 10-Q
- Genius Brands International, Inc. (company) — Former name of Kartoon Studios, Inc.
- 20240331 (date) — End of the reporting period
- 20240515 (date) — Date of filing
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is March 31, 2024.
What was Kartoon Studios, Inc. formerly known as?
Kartoon Studios, Inc. was formerly known as Genius Brands International, Inc.
When was this 10-Q filed?
This 10-Q was filed on May 15, 2024.
What is the company's state of incorporation?
The company's state of incorporation is Nevada (NV).
What is the company's primary business address?
The company's primary business address is 190 N. Canon Street, 4th Floor, Beverly Hills, CA 90210.
Filing Stats: 4,834 words · 19 min read · ~16 pages · Grade level 12.6 · Accepted 2024-05-15 08:27:14
Key Financial Figures
- $0.001 — ere registered Common Stock, par value $0.001 per share TOON The NYSE American Indi
- $250,000 — ed States are insured by the FDIC up to $250,000 per account and deposits in banks in Ca
- $500,000 — r Protection Corporation ("SIPC") up to $500,000 (with a limit of $250,000 for cash). In
- $1.0 billion — s of SIPC" coverage which insures up to $1.0 billion. As of March 31, 2024 and December 31,
Filing Documents
- toon-20240331.htm (10-Q) — 1017KB
- ex311toon20240331.htm (EX-31.1) — 10KB
- ex312toon20240331.htm (EX-31.2) — 10KB
- ex321toon20240331.htm (EX-32.1) — 4KB
- ex322toon20240331.htm (EX-32.2) — 4KB
- 0001355848-24-000071.txt ( ) — 7720KB
- toon-20240331.xsd (EX-101.SCH) — 70KB
- toon-20240331_cal.xml (EX-101.CAL) — 119KB
- toon-20240331_def.xml (EX-101.DEF) — 411KB
- toon-20240331_lab.xml (EX-101.LAB) — 806KB
- toon-20240331_pre.xml (EX-101.PRE) — 609KB
- toon-20240331_htm.xml (XML) — 801KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION Page Number
Financial Statements
Item 1. Financial Statements 2
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 23
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk. 28
Controls and Procedures
Item 4. Controls and Procedures. 28
- OTHER INFORMATION
PART II - OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings. 30
Risk Factors
Item 1A. Risk Factors. 31
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 31
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities. 31
Mine Safety Disclosures
Item 4. Mine Safety Disclosures. 31
Other Information
Item 5. Other Information. 31
Exhibits
Item 6. Exhibits. 32
SIGNATURES
SIGNATURES 33 1 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements Kartoon Studios, Inc. Condensed Consolidated Balance Sheets (in thousands, except share and par value data) As of March 31, 2024 December 31, 2023 (Unaudited) ASSETS Current Assets: Cash $ 2,763 $ 4,095 Investments in Marketable Securities (amortized cost of $ 10,109 and $ 12,838 , respectively) 9,382 11,950 Accounts Receivable (net of allowance of $ 226 and $ 189 , respectively) 13,389 18,072 Tax Credits Receivable, net 11,955 20,714 Notes and Accounts Receivable from Related Party 1,403 1,435 Other Receivable 539 103 Prepaid Expenses and Other Assets 1,580 740 Total Current Assets 41,011 57,109 Noncurrent Assets: Property and Equipment, net 1,780 1,877 Operating Lease Right-of-Use Assets, net 6,758 7,076 Finance Lease Right-of-Use Assets, net 1,473 1,867 Film and Television Costs, net 1,389 1,295 Investment in Your Family Entertainment AG 18,681 19,094 Intangible Assets, net 22,115 22,993 Other Assets 123 125 Total Assets $ 93,330 $ 111,436 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts Payable $ 12,000 $ 16,864 Participations Payable 1,674 1,915 Accrued Expenses 1,812 691 Accrued Salaries and Wages 2,114 1,926 Deferred Revenue 3,762 3,127 Margin Loan 2,940 782 Production Facilities 8,292 15,336 Bank Indebtedness – 2,905 Current Portion of Operating Lease Liabilities 1,156 908 Current Portion of Finance Lease Liabilities 877 1,120 Warrant Liability 26 63 Due to Related Party 1 3 Other Current Liabilities 231 – Total Current Liabilities 34,885 45,640 Noncurrent Liabilities: Deferred Revenue 3,416 3,458 Operating Lease Liabilities, Net Current Portion 6,400 6,736 Finance Lease Liabilities, Net Current Portion 751 928 Deferred Tax Liability, net 1,399 1,399 Other Noncurrent Liabilities 5 14 Total Liabilities 46,856 58,175 Commitments and Contingencies (Note 19) Stockholders' Equity: Preferred Stock, 9,943,999 shares authorized, 0 shares issued and outstandi