海豚娱乐有限公司2025年季度报告

OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number:001-38331 ——————— Name of each exchange on which registered pursuant to Rule405 of RegulationS-T (Section232.405 of this chapter) during the preceding 12 months (or for such shorter periodthat the registrant was required to submit such files).Yes☒No☐ Large accelerated filer☐Accelerated filer☐Non-accelerated filer☒Smaller reporting company☒ If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ PART I — FINANCIAL INFORMATION Consolidated Statements of Changes in Stockholders’ Equity for the three months ended March 31, 2025and 2024 (unaudited)Notes to Unaudited Condensed Consolidated Financial Statements Share-based compensationIssuance of shares related to employment agreements NOTE 1 –GENERALDolphin Entertainment, Inc., a Florida corporation (the “Company,” “Dolphin,” “we,” “us” or “our”), is a leading independententertainment marketing and production company. Through its subsidiaries 42West LLC (“42West”), The Door Marketing Group,LLC (“The Door”), Shore Fire Media, Ltd (“Shore Fire”), The Digital Dept., LLC (“The Digital Dept.”), Special Projects LLC motion picture, television, music, gaming, culinary, hospitality and lifestyle industries.42West (Film and Television, Gaming), Shore Fire (Music), The Door (Culinary, Hospitality, Lifestyle) and Elle (Impact,Philanthropy, Non-Profit) are each recognized global public relations (“PR”) and marketing leaders for the industries they serve. TheDigital Dept., and newly formed Always Alpha, provide influencer marketing capabilities through divisions dedicated to influencertalent management, brand campaign strategy and execution, and influencer event ideation and production. Always Alpha is a talentmanagement firm primarily focused on representing female athletes, broadcasters and coaches. The Digital Dept. is a talentmanagement firm primarily focused on social media influencers in beauty, fashion, lifestyle and dermatology. Special Projects is theentertainment industry’s leading celebrity booking firm, specializing in uniting brands and events with celebrities and influencers owned subsidiaries, comprising Dolphin Films, Inc. (“Dolphin Films”), Dolphin SB Productions LLC, Dolphin Max Steel Holdings,LLC, Dolphin JB Believe Financing, LLC, Dolphin JOAT Productions, LLC, Always Alpha, 42West, The Door, Viewpoint Computer Company ceased the operations of Viewpoint. The Company applies the equity method of accounting for its investments in entities forwhich it does not have a controlling financial interest, but over which it has the ability to exert significant influence.The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles normal recurring adjustments, necessary for a fair statement of its financial position as of March 31, 2025, and its results of operationsand cash flows for the three months ended March 31, 2025 and 2024. All significant inter-company balances and transactions have been eliminated from the condensed consolidated financial statements. Operating results for the three months ended March 31, 2025are not necessarily indicative of the results that may be expected for the full year ending December 31, 2025. The condensedconsolidated balance sheet as of December 31, 2024 has been derived from the audited financial statements at that date but does not notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024. assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of thefinancial statements, and the reported amounts of revenue and expenses during the reporting period. The most significant estimates made by management in the preparation of the financial statements relate to the estimates in the fair value of acquisitions, estimates inassumptions used to calculate the fair value of certain liabilities and impairment assessments for investment in capitalized production costs, goodwill and long-lived assets. Actual results could differ materially from such estimates.ReclassificationsCertain prior year amounts have been reclassified to conform with the current year presentation.These reclassifications had noimpact on the Company’s condensed consolidated statements of operations or condensed consolidated statements of cash flows. Accounting Guidance Adopted during the quarter ended March 31, 2025 In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures(“ASU 2023-09”), which will require the Company to disclose specified additional information in its income tax rate reconciliationand provide addi