This year has not been remarkably great for the stock of Genius Brands International Inc (OTCMKTS:GNUS) as the market saw the ticker sliding towards the $1 mark. However, in last trading session, the stock of Genius Brands posted gains of more than 3% and managed to close at $1.34.
Last week Genius Brands released a letter to shareholders from CEO and Chairman Andy Heyward. While focusing light on the transition in Marvel stock, he said that they are not going to sell company. He strongly believes that they are on a verge of developing some of the most thrilling characters in the kids business. The energy inside Genius Brands is palpable, as they are working to introduce broad set of characters to the international program and merchandise marketplaces.
Last week, Genius Brands released Annual Report for FY2015, wherein it stated that cash balance surged 21% year over year, and has continued to improve since the fiscal closing. For now, the company has almost $6 million in cash. It implies that the company has more than it recorded at any time in its history. Additionally, the cash position is projected to improve through FY2016. Focusing on the licensing and royalties, the CEO said they are remarkably grown 58% year over year, and keeps on improving as they move into FY2016 with a compounding tab of properties.
On FY2015, Genius Brands posted TV and home entertainment sales of $400,676 compared to $117,670 in FY2014. In 1Q2016, the company have delivered the complete series of Secret Lab, which is projected to lead a new wave of income and sales recognition. Net other income in FY2015 surged from a loss of $252,136 in FY2014 to a gain of $53,222 in FY2015, in which the company recorded no write-downs. It is suggestive of company’s shift to a more profitable and efficient business model.