SUMMARY OF THE THREE-MONTH PERIOD ENDING SEPT. 30, 2015
GENERAL AND ADMINISTRATIVE EXPENSES | |||||
3-Months | 3-Months | Category | |||
Ending | Ending | Change In | |||
CATEGORY | 6/30/2015 | 9/30/2015 | Period | ||
Auto | $ - | $ - | $ - | ||
Bank Charges | $ 850 | $ 2,200 | $ 1,350 | ||
Consulting | $ - | $ - | $ - | ||
Employees and Labor | $ 63,365 | $ 79,647 | $ 16,282 | ||
Entertainment | $ - | $ - | $ - | ||
Equipment | $ 3,673 | $ 4,188 | $ 515 | ||
Fees | $ - | $ - | $ - | ||
Insurance | $ 453 | $ 647 | $ 194 | ||
Labor | $ 650 | $ 3,213 | $ 2,563 | ||
Legal and Accounting | $ 3,000 | $ 16,400 | $ 13,400 | ||
Miscellaneous | $ 1,818 | $ 11,564 | $ 9,746 | ||
Office | $ 3,202 | $ 17,845 | $ 14,643 | ||
Rent | $ 10,050 | $ 13,050 | $ 3,000 | ||
Taxes | $ 7,893 | $ 24,887 | $ 16,994 | ||
Telephone | $ 3,254 | $ 3,623 | $ 369 | ||
Travel | $ 4,290 | $ 8,500 | $ 4,210 | ||
Utilities | $ 1,388 | $ 1,881 | $ 493 | ||
TOTAL OF GENERAL AND | |||||
ADMINISTRATIVE EXPENSES | $ 103,886 | $ 187,645 | $ 83,759 | ||
Footnotes: Officer Salaries for Parkinson and Shefte (the majority of which are deferred income) | |||||
appear on the income statement as accrued (but deferred) payables, as well as on the Company's | |||||
balance sheets. |
SALES SNAPSHOT: Q3 - (Period Ending Sept. 30, 2015)
Consumer Products (DVDs, BD's, Books) $721,159.38
25% Returns Reserve on Packaged Goods Sales $(179,905.60)
Television / V.O.D. / S.V.O.D. $516,065.00
VODWIZ Mastering & Upload Fees $43,750.00
International Licenses $-
Major Studio Distribution Ventures $-
Theatrical Releasing Revenues & Fees $1,517,800.26
$2,618,869.04
Q3 2014 | Q3 2015 | Change | |||||||
REVENUES (see media detail report) | $ | 407,605 | $ | 2,798,774 | $ | 2,391,169 | |||
Reserve for Potential Returns (WM, BB, Target) | - | (179,905) | (179,905) | ||||||
ADJUSTED REVENUES FOR QUARTER | 407,605 | 2,618,869 | 2,211,264 | ||||||
COST OF SALES | |||||||||
Commissions | 170 | - | |||||||
Sales and Marketing | 13,900 | 4,250 | (9,650) | ||||||
Video Manufacturing | 12,271 | 37,488 | 25,217 | ||||||
Film & Book Royalties | 33,054 | * | 1,780,875 | * | 1,747,821 | ||||
Freight | 1,868 | 29,420 | 27,552 | ||||||
Other Expenses | 49,313 | 22,426 | (26,887) | ||||||
TOTAL COST OF SALES | 110,576 | 1,874,459 | 1,763,883 | ||||||
GROSS PROFIT | 297,029 | 744,410 | 447,381 | ||||||
GENERAL AND ADMINISTRATIVE EXP. | 81,756 | 187,645 | 105,889 | ||||||
INCOME FROM OPERATIONS | 215,273 | 556,765 | 341,492 | ||||||
OTHER INCOME (EXPENSE) | - | - | - | ||||||
INCOME BEFORE TAXES | 215,273 | 556,765 | 341,492 | ||||||
PROVISION FOR INCOME TAXES | ** | 75,346 | ** | 194,868 | 119,522 | ||||
NET INCOME | $ | 139,927 | $ | 361,897 | $ | 221,970 | |||
RETAINED EARNINGS (Beginning of Period) | $ | 2,495,703 | |||||||
RETAINED EARNINGS (End of Period) | $ | 2,857,600 | |||||||
* Company is expensing the accrued royalties or third party participations as a cost of sales. | |||||||||
** Company is reserving a total of 35% off pretax earnings as the cumulative, accrued tax liability for both | |||||||||
Federal and applicable State Income Taxes |