Genius Brands International Announces Common Stock Acquisition by Company Chairman & CEO Andy Heyward
Genius Brands International Announces Common Stock Acquisition by Company Chairman & CEO Andy Heyward BEVERLY HILLS, CA -- (Marketwired) -- 05/11/16 -- Genius BrandsInternational, Inc. (OTCQB: GNUS) announces today that Chairman & CEOAndy Heyward has filed a Form 4 Statement of Changes in BeneficialOwnership, to report the issuance of 238,683 share of Genius BrandsInternational Common Stock at the closing price as of May 4, 2016 of$1.72. The acquisition of stock was made in satisfaction of certainshort-term cash advances totaling $410,535, which Mr. Heyward made toA Squared Entertainment LLC, a wholly owned subsidiary of GeniusBrands International, prior to its merger with Genius Brands in 2013.Mr. Heyward stated that he elected to take stock in payment of thedebt rather than cash, thus removing the liability from the Company'sbalance sheet. About Genius Brands International Headquartered in Beverly Hills, California, Genius BrandsInternational, Inc. "GBI" (OTCQB: GNUS) is a publicly traded globalbrand management company that creates and licenses multimedia contentfor toddlers to tweens. Led by award-winning creators and producers,GBI creates "content and products with a purpose," providingenrichment as well as entertainment. The Company distributes itscontent worldwide in all formats, as well as a broad range ofconsumer products based on its characters. GBI's portfolio includesaward-winning Baby Genius, re-launched with new entertainment andover 40 new products; adventure comedy Thomas Edison's Secret Lab®,available on Netflix, public broadcast stations and GBI's Kid Geniuschannel on Comcast's Xfinity on Demand reaching 21 millionhouseholds; animated movie Stan Lee's Mighty 7, the first projectfrom Stan Lee Comics, a joint venture with Stan Lee's POW!Entertainment and featuring an all-star voice cast led by legendaryStan Lee; and Warren Buffett's Secret Millionaires Club, created withand starring iconic investor Warren Buffett. The Company is alsoproducing a new animated preschool series based on Llama Llama, theNY Times bestselling children's book franchise; and the music-driven,tween adventure series SpacePOP. GBI's wholly owned subsidiary A Squared Entertainment is a brandmanagement and licensing company that represents third-partyproperties across a broad range of categories in territories aroundthe world. The company currently represents From Frank, a humorgreeting card and product line, and Celessence Technologies, theworld's leading microencapsulation company. For additional information please visit www.gnusbrands.com.