SOURCE: Genius Brands International, Inc.

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May 11, 2016 08:30 ET

Genius Brands International Announces Common Stock Acquisition by Company Chairman & CEO Andy Heyward

BEVERLY HILLS, CA--(Marketwired - May 11, 2016) - Genius Brands International, Inc. (OTCQB: GNUS) announces today that Chairman & CEO Andy Heyward has filed a Form 4 Statement of Changes in Beneficial Ownership, to report the issuance of 238,683 share of Genius Brands International Common Stock at the closing price as of May 4, 2016 of $1.72. The acquisition of stock was made in satisfaction of certain short-term cash advances totaling $410,535, which Mr. Heyward made to A Squared Entertainment LLC, a wholly owned subsidiary of Genius Brands International, prior to its merger with Genius Brands in 2013. Mr. Heyward stated that he elected to take stock in payment of the debt rather than cash, thus removing the liability from the Company's balance sheet.

About Genius Brands International

Headquartered in Beverly Hills, California, Genius Brands International, Inc. "GBI" (OTCQB: GNUS) is a publicly traded global brand management company that creates and licenses multimedia content for toddlers to tweens. Led by award-winning creators and producers, GBI creates "content and products with a purpose," providing enrichment as well as entertainment. The Company distributes its content worldwide in all formats, as well as a broad range of consumer products based on its characters. GBI's portfolio includes award-winning Baby Genius, re-launched with new entertainment and over 40 new products; adventure comedy Thomas Edison's Secret Lab®, available on Netflix, public broadcast stations and GBI's Kid Genius channel on Comcast's Xfinity on Demand reaching 21 million households; animated movie Stan Lee's Mighty 7, the first project from Stan Lee Comics, a joint venture with Stan Lee's POW! Entertainment and featuring an all-star voice cast led by legendary Stan Lee; and Warren Buffett's Secret Millionaires Club, created with and starring iconic investor Warren Buffett. The Company is also producing a new animated preschool series based on Llama Llama, the NY Times bestselling children's book franchise; and the music-driven, tween adventure series SpacePOP

GBI's wholly owned subsidiary A Squared Entertainment is a brand management and licensing company that represents third-party properties across a broad range of categories in territories around the world. The company currently represents From Frank, a humor greeting card and product line, and Celessence Technologies, the world's leading microencapsulation company.

For additional information please visit www.gnusbrands.com.

Forward-Looking Statements: Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact Information

  • GBI MEDIA CONTACT:
    Michelle Orsi
    Carol Holdsworth
    Three.Sixty Marketing & Communications
    310-418-6430
    Email contact


    FOR INVESTOR RELATIONS:
    Michael Porter
    PLR Investor Relations
    212.564.7000
    Email contact