Note 1 – Description of the Business Chicken Soup for the Soul Entertainment, Inc. is a Delaware corporation formed on May 4, 2016, and is a leading streaming video-on-demand (VOD) company. We operate Crackle Plus, a portfolio of ad-supported, as well as Screen Media, Halcyon Television, the newly formed Chicken Soup for the Soul Television Group, and a number of affiliates that collectively enable us to acquire, produce, co-produce and distribute content, including our original and exclusive content, all in support of our streaming services. References to “CSSE,” the “Company,” “we,” “us” and “our” refer to Chicken Soup for the Soul Entertainment, Inc. and its consolidated subsidiaries, unless the context otherwise requires. The Company operates and is managed by the Company CEO Mr. William J. Rouhana, Jr, as one reportable segment, the production and distribution of video content. The Company currently operates in the United States and India and derives its revenue primarily in the United States. The Company distributes content in over 56 countries and territories worldwide. Financial Condition and Liquidity As of December 31, 2021, the Company had a deficit of $136,462,244 since inception and for the year ended December 31, 2021, the Company had a net loss attributable to common stockholders of $59,419,724. The Company does not expect to continue to incur net losses at this level in the foreseeable future. The Company has evaluated its current financial condition and has determined that the losses incurred in the current year are not indicative of the Company’s ongoing operations. However, it does expect to incur losses in 2022 as it continues to invest in and scale its AVOD networks, distributed film library and original productions. 2021 has been a transformative year for the Company led by acquisition of the assets of Sonar Entertainment Inc., positioning the company to leverage its global film rights, its television production capabilities and to enable the launch a new ad-supported network Chicken Soup for the Soul AVOD in 2022. This strategic shift, in scale and capabilities, will support the Company’s future grow both domestically and internationally. The Company believes that cash flow from operations and cash on hand, together with equity and debt offerings, and film financings, if necessary, should be adequate to meet the Company’s operational cash, programming commitments, debt service requirements (i.e., principal and interest payments) and dividend payments of the preferred stock for the foreseeable future. The Company monitors cash flow liquidity, availability, capital base, operational spending and leverage ratios with the long-term goal of maintaining Company credit worthiness.
Free historical financial statements for Chicken Soup For The Soul Entertainment Inc..
See how revenue, income, cash flow, and balance sheet financials have changed over 26 quarters since 2017. Compare with CSSE stock chart to see long term trends.
Data imported from Chicken Soup For The Soul Entertainment Inc. SEC filings. Check original filings before making any investment decision.