NEW YORK, NY and LOS ANGELES, CA / ACCESSWIRE / March 30, 2020 / Dolphin Entertainment, Inc. (NASDAQ:DLPN), a leading entertainment marketing and premium content production company, announces its financial results for the period ended December 31, 2019.

Bill O'Dowd, CEO of Dolphin Entertainment, commented: "I'm happy to report that results exceeded consensus expectations for both revenues and earnings per share. All members of our PR and marketing "Super Group" had a strong 4th quarter, pushing our annual revenues just past $25,000,000, which was terrific. This represents an 11% increase year-over-year.

Furthermore, our net loss in the 4th quarter was just $71,428, which was less than half a cent per share, and this number includes Depreciation and Amortization costs of $500,792, or a little over 3 cents per share. This result also exceeds consensus expectations, which we attribute to the cross-selling of services between members of our entertainment marketing super group.

Also, we received tremendous recognition in December with the publishing of this year's Power 50 list of the top PR firms by the New York Observer. All 3 of our PR firms made the list, with 42West at #4, the highest-ranking of any entertainment PR firm. Putting that in perspective, it is estimated that there are over 12,000 PR firms in this country. Yet, all 3 of ours made the Top 50 list. Secondly, we believe we are the only company to own more than 1 PR firm on the list. This is our differentiating factor. We have what we call an Entertainment Marketing Super Group, led by our 3 PR firms — 42West for movies and television; The Door for celebrity chefs, hospitality and consumer products; and Shore Fire Media for music. The combination of these best-in-class companies represents a platform for future growth that is the heart of the investment thesis into Dolphin."

Highlights

Total Q4 revenue increased 11% year-over-year to $6,450,931 and full year revenue increased 11% to $25,001,867 as compared to same period in the prior year.
Entertainment Publicity and Marketing revenue increased 14% year over year to $24,915,261 for the full year ended December 31, 2019.
Operating loss for the three months ended December 31, 2019 of $643,879, which included non-cash items from depreciation and amortization of $500,792, as compared to operating loss of $3,580,080 including non-cash items for depreciation and amortization of $633,382 and goodwill impairment of $1,857,000 for the same period in the prior year.
Net loss for the three months ended December 31, 2019 of $71,428, compared to net loss of $3,578,467 for the same period in the prior year.
On December 3, 2019, we acquired Shore Fire Media, Ltd, a leading PR firm specializing in music.
42West, The Door, and Shore Fire Media, earned spots on The Observer's prestigious PR Power 50, a widely-respected ranking of the 50 most influential public relations firms in the nation.
Shore Fire Media's clients won a collective 11 GRAMMY Awards, including seven in various Best Album categories.
42West was involved in various capacities with 13 films that earned a total of 49 Academy Award nominations and won 9 Oscars.
Rachel Aberly, Executive Vice President of 42West, won the inaugural "Publicist of the Year" award at the 2020 ICG (International Cinematographers Guild) Publicists Awards
Dolphin Entertainment acquired feature comedy script SISTERS BEFORE MISTERS, and attached Lea Thompson to direct.

Conference Call Information

To participate in this event, dial approximately 5 to 10 minutes before the beginning of the call.
Date, Time: Tuesday, March 31, 2020, at 8:45 a.m. ET
Toll-free: 877-407-0782
International: 201-689-8567
Live Webcast: https://www.webcaster4.com/Webcast/Page/2225/33736

Conference Call Replay Information

The replay will be available beginning approximately 1 hour after the completion of the live event.
Toll-free: 877-481-4010
Reference ID: 33736

About Dolphin Entertainment, Inc.

Dolphin Entertainment is a leading independent entertainment marketing and production company. Through our subsidiaries 42West, The Door and Shore Fire Media, we provide expert strategic marketing and publicity services to many of the top brands, both individual and corporate, in the film, television, music and hospitality industries. In December 2019, all three PR firms were ranked among the Observer's "Power 50" PR Firms in the United States, an unprecedented achievement. Dolphin's acquisition of Viewpoint Creative adds full-service creative branding and production capabilities to our marketing group. Dolphin's legacy content production business, founded by Emmy-nominated CEO Bill O'Dowd, has produced multiple feature films and award-winning digital series.

Contact:

James Carbonara
Hayden IR
(646)-755-7412
james@haydenir.com

Special Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements may address, among other things, Dolphin Entertainment's expected financial and operational results and the related assumptions underlying its expected results. These forward-looking statements are distinguished by the use of words such as "will," "would," "anticipate," "expect," "believe," "designed," "plan," or "intend," the negative of these terms, and similar references to future periods. These views involve risks and uncertainties that are difficult to predict and, accordingly, Dolphin Entertainment's actual results may differ materially from the results discussed in its forward-looking statements. Dolphin Entertainment's forward-looking statements contained herein speak only as of the date of this press release. Factors or events Dolphin Entertainment cannot predict, including those described in the risk factors contained in its filings with the Securities and Exchange Commission, may cause its actual results to differ from those expressed in forward-looking statements. Although Dolphin Entertainment believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved, and Dolphin Entertainment undertakes no obligation to update publicly any forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law.

DOLPHIN ENTERTAINMENT, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(unaudited)

ASSETS

 
As of December 31, 2019
 
 
As of December 31, 2018
 

Current

Cash and cash equivalents

 
$
2,196,249
 
 
$
5,542,272
 

Restricted cash

 
 
714,089
 
 
 
732,368
 

Accounts receivable, net

 
 
3,581,155
 
 
 
3,173,107
 

Other current assets

 
 
372,872
 
 
 
620,970
 

Total current assets

 
 
6,864,365
 
 
 
10,068,717
 

Capitalized production costs

 
 
203,036
 
 
 
724,585
 

Right of use assets

 
 
7,435,903
 
 
 
–
 

Intangible assets, net of accumulated amortization of $4,299,794 and $2,714,785, respectively.

 
 
8,361,539
 
 
 
9,395,215
 

Goodwill

 
 
17,947,989
 
 
 
15,922,601
 

Property, equipment and leasehold improvements, net

 
 
1,036,849
 
 
 
1,182,520
 

Investments

 
 
220,000
 
 
 
220,000
 

Deposits

 
 
502,046
 
 
 
475,956
 

Total Assets

 
$
42,571,726
 
 
$
37,989,594
 

LIABILITIES

Current

Accounts payable

 
$
832,089
 
 
$
944,232
 

Other current liabilities

 
 
5,373,808
 
 
 
7,238,507
 

Line of credit

 
 
1,700,390
 
 
 
1,700,390
 

Put rights

 
 
2,879,403
 
 
 
4,281,595
 

Accrued compensation

 
 
2,625,000
 
 
 
2,625,000
 

Debt

 
 
3,311,198
 
 
 
2,411,828
 

Loan from related party

 
 
1,107,873
 
 
 
1,107,873
 

Lease liability

 
 
1,610,022
 
 
 
–
 

Contract liability

 
 
309,880
 
 
 
522,620
 

Convertible notes payable

 
 
2,452,960
 
 
 
625,000
 

Note payable

 
 
288,237
 
 
 
479,874
 

Total current liabilities

 
 
22,490,861
 
 
 
21,936,919
 

Noncurrent

Put rights

 
 
124,144
 
 
 
1,702,472
 

Convertible notes payable

 
 
1,907,575
 
 
 
1,376,924
 

Notes payable

 
 
1,074,122
 
 
 
612,359
 

Contingent consideration

 
 
330,000
 
 
 
550,000
 

Lease liability

 
 
6,386,209
 
 
 
–
 

Other noncurrent liabilities

 
 
570,000
 
 
 
1,034,393
 

Total noncurrent liabilities

 
 
10,392,050
 
 
 
5,276,148
 

Total Liabilities

 
 
32,882,911
 
 
 
27,213,067
 

Commitments and contingencies (Note 21)

STOCKHOLDERS' EQUITY

Common stock, $0.015 par value, 200,000,000 shares authorized, 17,892,900 and 14,123,157, respectively, issued and outstanding at December 31, 2019 and 2018.

 
 
268,402
 
 
 
211,849
 

Preferred Stock, Series C, $0.001 par value, 50,000 authorized, issued and outstanding at December 31, 2019 and 2018.

 
 
1,000
 
 
 
1,000
 

Additional paid in capital

 
 
105,443,656
 
 
 
105,092,852
 

Accumulated deficit

 
 
(96,024,243
)
 
 
(94,529,174
)

Total Stockholders' Equity

 
$
9,688,815
 
 
$
10,776,527
 

Total Liabilities and Stockholders' Equity

 
$
42,571,726
 
 
$
37,989,594
 

DOLPHIN ENTERTAINMENT, INC. AND SUBSIDIARIES
Consolidated Statements of Operations
For the years ended December 31, 2019 and 2018

 
2019
 
 
2018
 

Revenues:

Entertainment publicity and marketing

 
$
24,915,261
 
 
$
21,916,727
 

Content production

 
 
86,606
 
 
 
632,612
 

Total revenues

 
 
25,001,867
 
 
 
22,551,339
 

Expenses:

Direct costs

 
 
5,043,903
 
 
 
2,176,968
 

Selling, general and administrative

 
 
3,799,765
 
 
 
4,486,023
 

Depreciation and amortization

 
 
1,946,960
 
 
 
1,978,804
 

Legal and professional

 
 
1,560,483
 
 
 
2,119,107
 

Payroll

 
 
16,735,911
 
 
 
14,082,014
 

Goodwill impairment

 
 
–
 
 
 
1,857,000
 

Total expenses

 
 
29,087,021
 
 
 
26,699,916
 

Loss before other expenses

 
 
(4,085,155
)
 
 
(4,148,577
)

Other Income (Expenses):

Gain (loss) on extunguishment of debt

 
 
711,718
 
 
 
(53,271
)

Acquisition costs

 
 
(106,015
)
 
 
(438,552
)

Change in fair value of put rights

 
 
2,880,520
 
 
 
616,943
 

Change in fair value of contigent consideration

 
 
193,557
 
 
 
1,070,000
 

Interest expense

 
 
(1,206,202
)
 
 
(1,050,478
)

Total other income, net

 
 
2,473,579
 
 
 
144,642
 

Loss before income taxes

 
$
(1,611,576
)
 
$
(4,003,935
)

Income tax benefit

 
 
418,199
 
 
 
1,090,614
 

Net loss

 
$
(1,193,377
)
 
$
(2,913,321
)

Loss per share – Basic

 
$
(0.07
)
 
$
(0.22
)

Loss per share – Diluted

 
$
(0.20
)
 
$
(0.23
)

Weighted average number of shares used in per share calculation

Basic

 
 
16,522,924
 
 
 
13,773,395
 

Diluted

 
 
21,425,506
 
 
 
16,159,486
 

SOURCE: Dolphin Entertainment

ReleaseID: 583204

LOS ANGELES, CA / ACCESSWIRE / March 30, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Hanmi Financial Corporation ("Hanmi" or "the Company") (NASDAQ:HAFC) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Hanmi issued a press release on January 28, 2020, announcing the Company's financial results for the fourth quarter of fiscal year 2019. The Company reported net income of $3.1 million, including "a $6.9 million specific provision for loan and lease losses related to [a] previously identified $39.7 million troubled loan relationship." President and CEO Bonnie Lee said, "With the loans comprising this relationship maturing on December 31, 2019, [Hanmi] received current appraisals on the personal property securing the relationship and ha[s] provided for a specific allowance at the lower range of the appraised values." Based on this news, shares of Hanmi fell by more than 9.4% the next day.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
Cell: 424-303-1964
info@schallfirm.com

SOURCE: The Schall Law Firm

ReleaseID: 583224

NEW YORK, NY / ACCESSWIRE / March 30, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

SSL Shareholders Click Here: https://www.zlk.com/pslra-1/sasol-limited-loss-form?prid=5857&wire=1
JELD Shareholders Click Here: https://www.zlk.com/pslra-1/jeld-wen-holding-inc-loss-form?prid=5857&wire=1
INO Shareholders Click Here: https://www.zlk.com/pslra-1/inovio-pharmaceuticals-inc-loss-form?prid=5857&wire=1

* ADDITIONAL INFORMATION BELOW *

Sasol Limited (NYSE:SSL)

SSL Lawsuit on behalf of: investors who purchased March 10, 2015 – January 13, 2020
Lead Plaintiff Deadline: April 6, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/sasol-limited-loss-form?prid=5857&wire=1

According to the filed complaint, during the class period, Sasol Limited made materially false and/or misleading statements and/or failed to disclose that: (i) Sasol had conducted insufficient due diligence into, and failed to account for multiple issues with, the Lake Charles Chemicals Project ("LCCP"), as well as the true cost of the project; (ii) construction and operation of the LCCP was consequently plagued by control weaknesses, delays, rising costs, and technical issues; (iii) these issues were exacerbated by Sasol's top-level management, who engaged in improper and unethical behavior with respect to financial reporting for the LCCP and the project's oversight; (iv) all the foregoing was reasonably likely to render the LCCP significantly more expensive than disclosed and negatively impact the Company's financial results; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.

Jeld-Wen Holding, Inc. (NYSE:JELD)

JELD Lawsuit on behalf of: investors who purchased January 26, 2017 – October 15, 2018
Lead Plaintiff Deadline: April 20, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/jeld-wen-holding-inc-loss-form?prid=5857&wire=1

According to the filed complaint, during the class period, Jeld-Wen Holding, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company's products, including doors, did not compete against other manufacturers on price, contrary to Jeld-Wen's representations; (2) the market in which the Company sells its doors is not "highly competitive" as the Company claimed; (3) Jeld-Wen's strong margins and anticipated margin growth were not, as the Company claimed, attributed to changes they had made in Jeld-Wen's business operations and strategies; and (4) Jeld-Wen failed to disclose the Company's anti competitive conduct. Because of the foregoing, Defendants' statements about the Company's business, operations and prospects lacked a reasonable basis.

Inovio Pharmaceuticals, Inc. (NASDAQ:INO)

INO Lawsuit on behalf of: investors who purchased February 14, 2020 – March 9, 2020
Lead Plaintiff Deadline: May 12, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/inovio-pharmaceuticals-inc-loss-form?prid=5857&wire=1

According to a filed complaint, throughout the class period, defendants made misleading statements about the company's development of a purported vaccine for the novel coronavirus, artificially inflating the company's share price and resulting in significant investor losses.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP

ReleaseID: 583221

SAN FRANCISCO, CA / ACCESSWIRE / March 30, 2020 / Hagens Berman urges investors in AnaptysBio, Inc. (NASDAQ:ANAB) who have suffered significant losses to submit their losses now. A securities class action has been filed, and certain investors may have valuable claims.

Class Period: Oct. 10, 2017 – Nov. 7, 2019

Lead Plaintiff Deadline: May 26, 2020 Sign Up: www.hbsslaw.com/investor-fraud/ANAB Contact An Attorney Now: ANAB@hbsslaw.com

844-916-0895

AnaptysBio, Inc. (ANAB) Securities Class Action:

The complaint focuses on AnaptysBio's misrepresentations and concealments about the efficacy of the Company's lead drug asset, etokimab, a drug intended for various inflammatory diseases.

The complaint alleges that Defendants repeatedly described data from AnaptysBio's Phase 2a trial in peanut allergies as having remarkable and profound efficacy in its treatment of patients with atopic dermatitis. According to the complaint, Defendants provided investors with misleading clinical trial data that did not disclose key information and used questionable analysis to make the trial results regarding etokimab's efficacy and prospects appear far better than they were.

Investors began to learn the truth beginning on Mar. 26, 2018, according to the complaint, when an analyst from RBC Capital Markets questioned the veracity of data Defendants reported earlier that day. The analyst observed the response rate for etokimab for the full trial population "does not appear to be meaningfully differentiated" relative to placebo.

Then, according to the complaint, on June 21, 2019 an analyst from Credit Suisse issued a report questioning the reliability of the Company's Phase 2a atopic dermatitis trial data.

Finally, on Nov. 8, 2019, Defendants announced that each of the etokimab dosing arms in its Phase 2b multi-dose study did not demonstrate statistical efficacy compared to placebo.

In response, the price of AnaptysBio shares crashed 72% lower that day.

"We're focused on investors' losses and proving AnaptysBio misled investor about its lead drug candidate etokimab," said Reed Kathrein, the Hagens Berman partner leading the investigation. If you purchased shares of AnaptysBio and suffered significant losses, http://www.hbsslaw.com/investor-fraud/ANAB.

Whistleblowers: Persons with non-public information regarding AnaptysBio should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email ANAB@hbsslaw.com.

# # #

About Hagens Berman

Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

CONTACT: 

Reed Kathrein
844-916-0895

SOURCE: Hagens Berman Sobol Shapiro LLP

ReleaseID: 583210

SCOTTSDALE, AZ / ACCESSWIRE / March 30, 2020 / University Headquarters, known for providing important educational information to students looking to pursue a higher education, has just released the rankings for the top 25 nursing schools in the United States. The list features many nursing-focused colleges that rank high in various categories.

The prominent, independent educational organization reports its Top 25 Nursing Colleges list based on the following data: retention rate, graduation rate, education cost, average salary for graduates, acceptance rate, reviews, and available online programs among others. University Headquarters uses a proprietary rating system in order to rank a wide variety of colleges and universities in the United States.

The complete list will be available on universityhq.org, where students can access the information for free. The website features colleges profiles, career path descriptions, application guidance, a comprehensive resource center, and much more. There is also a frequently asked questions section that details the type of information University Headquarters provides.

Columbia University in New York City earned the #1 spot on University Headquarters' Top 25 Nursing Colleges. Yale University landed the #2 spot on the list. Some of the additional colleges on the rankings report are: University of Pennsylvania, Duke University, Boston College, University of California – Los Angeles and Georgetown University.

University Headquarters tailored its top nursing colleges list by looking at over 3,000 colleges in the United States that specialized in nursing, offered a wide variety of degree programs, featured high-quality instruction, and provided affordable tuition. The education service company recognizes that students must find the best college for their unique needs; as a result, it provides essential information to help college students make the best choice.

For more information about the methodology for each of the above nursing college rankings, please visit University Headquarters best colleges rankings methodology page.

About University Headquarters

University Headquarters is a leading and successful education company that prides itself on providing students with the tools that they need to succeed in higher education. The organization offers important information about colleges across the United States, entrance requirements, and many career fields. Future college students can obtain information about expected earnings in these fields, employment outlook, and growth opportunities. University Headquarters also provides necessary resources for students who would like to attend a vocation or trade school, which allow them to enter the work force more quickly than a tradition, four-year degree program. The primary goal of the company is to be the number one resource to help students navigate the higher education process.

For more information about University HQ, contact the company here:

University HQ
Christian Jacobs
(800) 793-5011
info1@universityhq.org
University HQ
14350 N 87th St #110
Scottsdale, AZ 85260
University Headquarters

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SOURCE: University HQ

ReleaseID: 583216