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Genius Brands Secures $2MM Credit Line With SunTrust Bank

August 26, 2014, 07:11 AM
Filed Under: Entertainment

Genius Brands International, Inc., a global brand management company dedicated to providing entertaining and enriching 'content with a purpose' for toddlers to 'tweens, announced today that it has secured a $2 million revolving line of credit with SunTrust Bank.

Andy Heyward, Chairman & CEO of Genius Brands International, stated, "We are very happy that SunTrust Banks is backing our expansion with this first revolving line of credit. This provides us with even greater financial flexibility to execute our growth strategy than we had before, and strengthens our financial position even further."

Genius Brands International currently has no debt; it has roughly $6 million in cash and cash equivalents; and it has a stable rate of expenditure of approximately $300,000 per month. The company anticipates reaching cash-flow break-even by year-end and will be cash-flow positive in 2015.

Heyward added, "We are signing consumer products licensees for our brands continuously; we are licensing broadcasters and digital distribution outlets worldwide. We have growing interest from the biggest retailers in the U.S., and we expect to see material presence at retail of our product lines over the next 24 months, as we execute against Baby Genius, Secret Millionaires Club, Stan Lee Comics, Thomas Edison's Secret Lab, and the new brands recently acquired to be announced shortly."

Headquartered in Los Angeles,Genius Brands International is a publicly traded multimedia content and brand management company. Led by industry veterans, Andy Heyward and Amy Moynihan Heyward, Genius Brands International includes award-winning Baby Genius, Warren Buffett's Secret Millionaires Club, Gisele Bundchen's Gisele & the Green Team, Martha Stewart's Martha & Friends, Thomas Edison's Secret Lab and Stan Lee Comics, featuring its first movie, Stan Lee's Mighty 7. The company provides "content with a purpose" for kids of all ages, meaning interactive content that is as entertaining as it is enriching.

The FreeStreams internet broadcasting platform allows broadcasters to profitably stream the world's best radio and television stations to popular devices.

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