NYSE: TOON

The Company distributes its
content across streaming platforms, linear television, and its ad-supported and subscription-based video-on-demand (“VOD”)
services and apps, including Kartoon Channel! and Ameba TV. Distribution partners include YouTube, YouTube Kids, Amazon
Prime Video, Amazon Fire, Roku, Apple TV, iOS, Android TV, Android mobile, Pluto TV, Xumo, Tubi, Samsung TV Plus, Google TV, Cox, DISH,
Sling TV, KartoonChannel.com, and smart TVs from Samsung and LG. The Company also licenses content to third-party networks and streaming
services globally, including Netflix, Paramount+, HBO Max, and Nickelodeon.

The Company also owns The
Beacon Media Group, LLC and The Beacon Communications Group, Ltd. (collectively, “Beacon”), a specialized media and marketing
agency focused on children’s and family audiences. Beacon represents over 20 established and emerging brands across the toy, consumer
products, and family entertainment sectors, including Bandai Namco, Moose Toys, Bazooka Brands, Goliath Games, Playmates Toys, and Cepia
LLC. The agency has developed a strong reputation within the toy industry, supported by long-standing client relationships, deep category
expertise, and a consistent track record of campaign execution. We believe that Beacon’s positioning within a niche, relationship-driven
market provides barriers to entry and supports durable demand for its services.

The Company owns Ameba Inc.
which operates Ameba TV, a subscription streaming service with a focus on educational and entertainment content for younger children.
As a cornerstone of the Company’s subscription offerings, Ameba delivers a vast library of engaging and educational content, accessible
across multiple platforms.

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Through its investment in
Germany-based Your Family Entertainment AG (“YFE”), a publicly listed company on the Frankfurt Stock Exchange (RTV: FWB),
the Company holds a strategic interest in one of Europe’s leading independent children’s content providers, with a catalog
of approximately 150 titles and 3,500 half-hour episodes.

The Company holds a controlling
interest in Stan Lee Universe, LLC (“SLU”), which owns the IP rights to Stan Lee’s name, likeness, signature, and associated
IP assets.

Our Products

Our main sources of revenue
are derived from animation production services provided to third parties, the sale of licenses for the distribution of films and television
programs, advertising revenues, and merchandising and licensing sales.

Production Services

Our production services business
is centered on delivering original and third-party commissioned animated content with a focus on production efficiency and scalability.
Mainframe Studios, our primary production entity, is undertaking operational enhancements through the adoption of flexible production
workflows, strategic outsourcing, and the integration of new technologies. These initiatives aim to optimize cost structures and streamline
the production pipeline. To date, Mainframe has produced over 1,200 television episodes, 70 movies, and three feature films, including
titles such as Barbie Dreamhouse Adventures, Octonauts: Above & Beyond, Cocomelon, SuperKitties, and Unicorn Academy,
in partnership with leading global media companies.

During 2025, we entered into
active development and production on Hundred Acre Wood’s Winnie and Friends, an animated franchise series inspired by Winnie-the-Pooh
by A.A. Milne. Structured as a serialized short-form series, the production is engineered for broad multi-platform distribution across
AVOD, FAST, SVOD, in-store, and international platforms. Developed as a cornerstone franchise for Kartoon Studios, the series features
an original yarn-based animation style combining digital tools with handcrafted textures to create a warm, storybook aesthetic enhanced
by music and dance. The franchise includes a multi-phase rollout, consisting of major holiday specials, including Christmas, Halloween,
Thanksgiving, and Easter, and is supported by an integrated global consumer products program spanning toys, apparel, home goods, publishing,
collectibles, and retail partnerships. The series is scheduled to premiere in Fall 2026, with a Christmas holiday special debuting in
2026.

During 2025, we also produced
numerous owned IP and for-hire projects including:

SuperKitties Season 2,
3 and 4: SuperKitties Su-Purr Charged is a top performing computer-generated animation show for Disney Junior. Mainframe Studios produces
this content on a service basis for Sony TV Kids. Through 2025, the final 6 episodes of SuperKitties Season 2 were delivered and
27 x 11-minute episodes of SuperKitties Season 3 were delivered with the remaining 23 x 11-minute episodes expected to be delivered
by the third quarter of 2026. In addition, 10 supplementary animated shorts of 2 minutes were also delivered in 2025. The series was greenlit
for a fourth season in March 2025, and Mainframe Studios started production on this fourth season in the third quarter of 2025, with delivery
of content expected to commence in the second quarter of 2026. This fourth season will include 3 x 60-minute specials, 20 x 11-minute
episodes and 6 x 2 minute shorts.

Phoebe & Jay: This
2D Preschool series for PBS Kids, which first aired in February 2026, began full production in 2024. Phoebe & Jay follows the
adventures of 6-year-old twins Phoebe and Jay Yarber, who live with their family in the fantastical Tobsy Towers. The series is designed
to support early literacy skills for preschoolers by showcasing the various kinds of texts they see in their everyday lives, helping them
understand, navigate, and participate in the world around them. This series has an overall order of 80 x 11-minute episodes, with deliveries
ongoing with completion expected by the third quarter of 2026. This series also includes 20 interstitials and 5 web games.

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It’s Andrew!:
This vibrant, funny, and heart-filled preschool animated series bursting with creativity and imagination is following the adventures of
a young rhino living as a very big unicorn in the whimsical town of Hornsby Downs. In 2024, Mainframe Studios began co-production of the
series, working alongside Pirate Size Productions and Infinite Studios. The series consists of 40 x 7 minutes episodes, and is targeted
at preschool audiences, blending visually imaginative storytelling with themes of individuality and self-acceptance. The production was
commissioned by the Australian Broadcasting Corporation, CBC (Canada), and Société Radio-Canada (Canada), with Kartoon Studios
retaining international distribution, licensing, and merchandising rights. The series premiered in December 2025 on CBC Kids, Radio-Canada,
CBC Gem, and ICI TOU.TV in Canada, and is expected to premiere on ABC Kids and ABC iview in Australia in 2026.

Unicorn Academy: Netflix
greenlit a second season of this children's fantasy-adventure series from Spin Master Entertainment. Unicorn Academy is set on
Unicorn Island, a fictional environment where students attend a boarding school to train as protectors of a magical realm. The narrative
follows a core teen protagonist and her peers as they form bonds with unicorns, develop magical capabilities, and confront threats to
the island’s stability. The series is designed and marketed primarily for the children’s and pre-teen audience, generally
aligning with the ages 7–12 demographic. It features age-appropriate storytelling, adventure-driven narratives, and positive social-emotional
messages. Mainframe Studios started production on these 16 x 22-minute episodes in 2024 with deliveries ongoing and final delivery due
the first quarter of 2026.

Consumer Products and Licensed Content

A source of our revenue is
our licensing and merchandising activities from our underlying IP content. We work directly in licensing properties to a variety of manufacturers
and occasionally to retailers. We currently have, across all brands, multiple licensees and a variety of licensed products either in development,
in market or scheduled to enter the market. Products bearing our trademarks can be found in a wide variety of retail distribution outlets
reaching consumers in retailers such as Barnes & Noble, Kohl’s, Amazon.com, and Hot Topic. License agreements that we enter
into often include financial guarantees and commitments from the manufacturers guaranteeing a minimum stream of revenue for us. In some
cases, we can earn additional revenue once retail sales of licensed merchandise exceed the value of these advances or minimum guarantees.
Current strategic priorities center on commercializing the Stan Lee IP portfolio and launching the Hundred Acre Wood: Winnie &
Friends property, with emphasis on digital and physical consumer products as well as location-based fan experiences.

Content Distribution

Today’s global content
marketplace has evolved such that ubiquity is essential to success. Kids now expect to watch what they want, when they want, wherever
they want. As a result, content creators must deliver access across multiple distribution touchpoints. Our strategy spans both traditional
linear broadcast in key international territories and a broad range of digital platforms. We actively pursue placement of our content
and branded channels with leading distribution partners and maintain hands-on management of our digital presence. This includes partners
and platforms such as Netflix, Apple TV, Roku, Samsung TV Plus, Amazon Fire TV, Amazon Prime Video, YouTube, Cox, DISH, Sling, Xumo, iOS,
Android/Google Play, LG and Samsung smart TVs, Tubi, and Pluto TV. Our content distribution strategy is focused on scaling audience reach
and monetization across our proprietary networks, including Kartoon Channel!, Kartoon Channel! Worldwide, Channel Frederator Network and
Ameba TV.

Kartoon Channel! Network:
In June 2020, we launched the Kartoon Channel!, a digital family entertainment destination that delivers enduring childhood
moments of humor, adventure, and discovery and is available across multiple AVOD, SVOD and linear streaming platforms, including Cox,
DISH, Sling TV, Amazon Prime Video, Amazon Fire, Roku, Apple TV, Apple iOS, Android TV, Android mobile, Pluto TV, Xumo, Tubi, YouTube,
YouTube Kids, and Samsung and LG smart TVs. Kartoon Channel! has achieved significant domestic penetration, being widely available
to U.S. television households through Internet-based streaming services. Kartoon Channel! delivers numerous episodes of carefully
curated family-friendly content featuring animated classics for little kids, including The Ghostly Adventures of Pac-Man, Mother Goose
Club, Llama Llama shorts, Om Nom Stories, as well as content for bigger kids, such as Angry Birds, Talking Tom and Friends and
Yu-Gi-Oh! and original programming like Rainbow Rangers and Stan Lee’s Superhero Kindergarten, starring Arnold
Schwarzenegger. The Kartoon Channel! also offers STEM-based content and Spanish language programming.

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Kartoon Channel! Worldwide:
We expanded the distribution footprint of Kartoon Channel! by rolling out Kartoon Channel! Worldwide in 2023. Kartoon Channel!
Worldwide has a distribution footprint of over 61 territories across Europe, the Middle East, Africa, and Asia. Kartoon Channel!
Worlwide is on Pay TV, Branded block, and FAST services. The channel includes original Kartoon Channel! programming, as well
as animated content from YFE’s animation catalogue, and other content acquisitions.

Channel Frederator Network:
Channel Frederator Network, owned by Frederator, is the largest animation focused creator network on YouTube with over 2,500 channels.
Frederator also owns Frederator Studios, focused on developing and producing shorts and series for and with partners. Over the past 20
years, Frederator Studios has partnered with Cartoon Network, Nickelodeon, Nick Jr., Netflix, Sony Pictures Animation and Amazon.

Ameba TV: We also own
the Canadian company Ameba Inc., which operates Ameba TV, a premier subscription-based streaming service specializing in younger
children's entertainment. As a cornerstone of TOON Media Networks' subscription offerings, Ameba TV delivers a vast library of
engaging and educational content, accessible across multiple platforms. Ameba TV is comprised of 14,000+ episodes and 2,800+ hours
of kids’ shows. The streaming service features educational shows, including Alphablocks, Numberblocks, Sooty, Karl,
Dino the Dinosaur, and Alphabuddies. There are hundreds of kids’ music videos, including Wee Sing and Ukulele
U, and a catalog of classic content, such as Babar and Franklin and Friends. Ameba TV significantly enhances our digital
footprint and revenue streams and is available in the U.S. and Canada. It is being distributed in the United States on the Company’s
wholly-owned subscription and advertisement supported service, which includes video on demand and streaming linear. Distribution
platforms include Amazon Prime Video, Amazon Fire, Roku, Apple TV, Apple iOS, Android TV, Android mobile, XBox, as well as Samsung and LG
smart TVs.

Media and Advisory Services

Beacon’s media advisory
and advertising operations are structured to generate recurring and diversified revenue through a combination of retainer-based engagements
and commission-driven media planning and buying. This blended revenue model affords client flexibility and supports margin optimization
through efficient resource utilization. Beacon has continued to invest in higher-value service offerings, including influencer-driven
marketing programs, data-informed media planning, and customized campaign development. These capabilities have increased the scope and
duration of client engagements and strengthened customer retention. Beacon provides services to a range of clients in the toy, gaming,
and consumer products industries including Moose Toys, Goliath Games, Bandai Namco, Just Play, and Bazooka Candy Brands, and more. Beacon
also plans and purchases advertising across a broad mix of digital and connected television platforms, including YouTube, Paramount, Disney+,
Hulu, Roku, Tubi, Amazon, Blockboard, Future Today, Kidoodle, Precisify, Facebook, and TikTok. As our services scale, we expect to benefit
from operating leverage, as incremental revenue can be generated with comparatively limited increases in fixed costs.

Marketing

Our marketing mission is to
generate awareness and consumer interest in the brands of Kartoon Studios via a 360-degree approach to reach audiences through all touchpoints.
Successful marketing campaigns for our brands have not only included traditional marketing tactics but now also include utilizing social
media influencers (individuals with a strong, existing social media presence who drive awareness of our brands to their followers), strategic
social media marketing, and cross-promotional consumer product campaigns. We also deploy digital and print advertising to support the
brands, as well as work with external media relations professionals to promote our efforts to both consumer and industry. We consistently
initiate strategic partnerships with brands that align and offer value to us. Our Kartoon Channel! platform, being widely available
to U.S. television households through Internet-based streaming services, provides additional reach to promote our content and consumer
products.

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Competition

The industry in which we operate
is highly competitive. We compete against other creators of children’s content including Disney, Nickelodeon, Netflix, Hulu, PBS
Kids, and Sesame Street, as well as other small and large creators. In the saturated children’s media space, we compete with these
other creators for both content distribution across linear, VOD, and digital platforms, as well as retail shelf space for our licensed
products. We also compete with other media and entertainment companies, independent production companies and VOD services for creative
and performing talent, story properties, show concepts, scripted and other programming and advertiser support.

Many of our competitors enjoy
competitive advantages such as greater brand recognition, legacy operating histories and larger marketing and content budgets, as well
as greater financial, technical, marketing, distribution, human and other resources. To compete effectively, we are focused on our strategic
positioning of “content with a purpose,” which we believe is a point of differentiation embraced by the industry, as well
as parents and educators. Additionally, the Kartoon Channel! enables us to increase the awareness of our brands through an owned
platform.

Customers and Licensees

In the year ended December
31, 2025, we partnered with 35 consumer products licensees. During the same period, we licensed our content to over 60 broadcasters in
more than 150 countries worldwide, as well as a number of VOD and online platforms that have a global reach. This broad cross-section
of customers includes companies such as Comcast, Netflix, Sony, YouTube, Mattel, Target, Penguin Publishing, Manhattan Toys, Roku, Apple
TV, Amazon, Google, Bertelsmann Music Group, Discovery International, Hot Topic and others both domestically and internationally.

During the years ended December 31,
2025 and 2024, we had four customers who accounted for 81.9% and 75.7% of our total revenue. respectively. The loss of any such customer
could have a material negative impact on our financial condition and operating results.

Government Regulation

The FCC requires broadcast
networks to air a required number of hours of educational and informational content (E/I). We are subject to online distribution regulations,
namely the Federal Trade Commission’s (the “FTC”) Children’s Online Privacy Protection Act (“COPPA”),
which regulates the collection of information from children younger than 13 years old. The FTC has sought to expand its authority in this
area through various rulemakings related to general privacy, targeted advertising and children’s privacy. There has been an increased
focus on children’s privacy at both the state and federal levels within the United States, as well as internationally.

Consumer Products Safety

Licensed toy products are
subject to regulation under the Consumer Product Safety Act and regulations issued thereunder. These laws authorize the Consumer Product
Safety Commission (the “CPSC”) to protect the public from products which present a substantial risk of injury. The CPSC can
require the manufacturer of defective products to repurchase or recall such products. The CPSC may also impose fines or penalties on manufacturers
or retailers. Similar laws exist in some states and other countries in which we plan to market our products. Although we do not manufacture
and may not directly distribute toy products, a recall of any of the products may adversely affect our business, financial condition,
results of operations and prospects.

Because our products are manufactured
by third parties and licensees, we are not significantly impacted by federal, state and local environmental laws in connection with the
manufacture of our consumer products and do not have significant costs associated with compliance with such laws and regulations.

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Other Regulatory Considerations

We are currently subject to
regulations applicable to businesses generally, including numerous federal and state laws that impose disclosure and other requirements
upon the origination, servicing, enforcement and advertising of credit accounts, and limitations on the maximum amount of finance charges
that may be charged by a credit provider. Although credit to some of our customers is provided by third parties without recourse to us
based upon a customer’s failure to pay, any restrictive change in the regulation of credit, including the imposition of, or changes
in, interest rate ceilings, or imposition of tariffs could adversely affect the cost or availability of credit to our customers and, consequently,
our results of operations or financial condition. As an international production company, we are also subject to country-specific requirements
such as federal and provincial content regulations and tax credit guidelines in Canada.

We also maintain websites
which include our corporate website located at www.kartoonstudios.com and many brand websites. These websites are subject to laws
and regulations directly applicable to internet communications and commerce, which is a currently developing area of the law. The United
States has enacted internet laws related to information and network security, children’s privacy, governmental access to data, copyrights
and taxation, among other things. Many of these laws and regulations are still evolving and could be interpreted, updated, or new laws
passed in ways that could harm our business. The growth of the market for internet commerce may result in more stringent consumer protection
laws, both in the United States and abroad, that place additional burdens on companies conducting business over the internet. We cannot
predict with certainty what impact such laws will have on our business in the future. In order to comply with new or existing laws regulating
internet commerce, we may need to modify the manner in which we conduct our website business, which may result in additional expense.

Intellectual Property

We derive substantial value
from the development, acquisition, exploitation, and protection of intellectual property. We own, directly and through our subsidiaries,
and license from third parties, a portfolio of copyrights, trademarks, service marks, trade names, and other proprietary rights used in
connection with our content, distribution platforms, and consumer products.

Owned and Controlled
Properties

As of December 31, 2025, we
owned and controlled properties and related trademarks, including Rainbow Rangers, SpacePop, Secret Millionaires Club,
Thomas Edison's Secret Lab, Baby Genius, Kid Genius, Wee Worship, KC! Pop Quiz, KC Play Mix: Surviving Roblox, Kidaverse: Roblox Rumble,
Shaq's Garage, Bravest Warriors, Bee and PuppyCat, Castlevania, Stan Lee's Mighty 7, and Hundred Acre Wood’s: Winnie and
Friends, together with various additional character, brand, and program names and marks developed in connection with our content and
brands. We also hold trademark registrations and pending trademark applications in the United States and certain foreign jurisdictions
for a number of our brands, including Kartoon Channel!, the name and signature of Stan Lee, and the titles of several of our owned
animated series. The foregoing is not intended to be an exhaustive list of our intellectual property assets.

Stan Lee Rights

Through our controlling interest
in Stan Lee Universe LLC, we control certain rights associated with Stan Lee, including all rights in the name, image, likeness, signature,
and unique personal characteristics of the late comic book icon. Additionally, we control social media accounts pertaining to Stan Lee,
the websites and certain related domains, the YouTube channels Stan Lee Presents and The Real Stan Lee, various word marks
in the name Stan Lee and design marks in Stan Lee's stylized signature, and the consumer product licensing to the iconic Stan Lee.

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Trademark Portfolio

As of December 31, 2025, Kartoon
Studios, Inc. directly held 15 registered trademarks in the United States, 5 in the United Kingdom, 2 in Australia, and 1 in New Zealand,
as well as registrations in additional jurisdictions. Mainframe Studios, Inc. held 4 registered trademarks in the United States, 7 in
Canada, and 1 in the United Kingdom. Frederator Networks, Inc. held 3 registered trademarks in the United States, 1 pending registration
in Canada, and 1 registration in Australia. Stan Lee Universe LLC held 29 registered and 2 pending trademark registrations in the United
States, 1 registration in Canada, 3 registrations in the United Kingdom, and more than 50 related registrations in other jurisdictions,
each relating to the Stan Lee name, image, and likeness.

Content Library
and Other Rights

As of December 31, 2025, we
held distribution rights to more than 225 motion pictures and more than 750 television series licensed from more than 175 content partners.
These rights support the programming of Ameba and Kartoon Channel!, our owned and operated streaming platforms, as well as a portfolio
of branded channels distributed across multiple third-party platforms in AVOD, SVOD, and FAST formats. We also held 270 sound recordings
and multiple literary work copyrights related to our video, music, and written work products.

Jointly Owned
Properties

We have 50/50 ownership agreements
in place with Martha Stewart and her related brand Martha & Friends and Gisele Bündchen and her related brand Gisele
& the Green Team.

Protection and
Enforcement

We protect our intellectual
property rights through a combination of copyright and trademark law and contractual protections embedded in our licensing, distribution,
and commercial arrangements, including provisions that limit grants of rights to specific territories, media, and terms. We also actively
monitor online platforms and vendors for unauthorized use of our content and brands, and in certain cases we deploy third-party scanning
and takedown services as conditions warrant. We have taken enforcement action in the past, including with respect to the Stan Lee brand,
and we will not hesitate to do so in the future. While the scope and enforceability of intellectual property protections vary by jurisdiction,
we believe our approach to monitoring and enforcement positions us to respond effectively to infringement wherever it occurs. From time
to time, we may nonetheless be subject to claims challenging the scope or validity of our rights, and any such proceedings could result
in costs or diversion of management attention that could adversely affect our business, results of operations, or financial condition.

Environmental, Social and Governance Strategy

We are attempting to shape
culture, social attitudes and societal outcomes with our animated content and consumer products that touch the lives of young people and
their families. As a global content company that reaches millions of people, we aim to be a positive force in the world.

We are committed to advancing
and strengthening our approach to environmental, social and governance topics to help serve our partners, audiences, employees and stockholders,
and to enhance our success as a business.

Human Capital Management

As of December 31, 2025,
we employed 294 full-time employees and 40 independent contractors. The decrease in headcount relative to the prior year was primarily
due to leveraging third-party partnerships to support certain active projects and to decrease our overhead costs.

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We aim to build a culture
that attracts and retains the best employees and a workplace where everyone feels welcome, safe and inspired. In furtherance of this goal,
we have enacted policies addressing harassment, discrimination and other behaviors that could create a hostile workplace. We make training
on preventing sexual harassment, discrimination and retaliation available to our employees. Additionally, we expect employees to report
any violations of Company policies, including sexual harassment, they witness. To encourage our employees to report their concerns without
fear of retaliation, employees are able to report incidents of harassment using our anonymous complaint and reporting hotline.

Social Impact and Corporate Social Responsibility

We believe that the content
we produce, primarily directed at young people and their families, both reflects and influences how our young viewers perceive and understand
important issues. We endeavor to earn our viewers’ trust through a variety of practices, and we are focused on using our platforms
to create positive social impacts.

By way of just a couple of
examples: in our show Rainbow Rangers, a diverse cast of girls works to save animals and protect the environment, while demonstrating
the power of teamwork; and in our Llama Llama series, we teach kindness and inclusion, and feature a differently abled character,
which we have been told is appreciated by moms and kids who deal with physical challenges.

To further evidence our Corporate
Social Responsibility initiatives, we support educational programming through our creative and production involvement in the PBS preschool
animated series Phoebe & Jay. The series features fraternal twins intentionally designed to reflect underrepresented minority
communities, reinforcing our commitment to diversity and inclusive representation in children’s media. Built around a foundational
literacy curriculum, the program promotes early literacy and functional reading skills by encouraging young viewers to engage with everyday
texts, problem-solving, and life skills, contributing to positive early childhood learning and development outcomes. It’s Andrew!,
a preschool animated series, was designed to promote positive social and emotional learning for young audiences, including themes of self-acceptance,
empathy, and resilience. Through the main character’s experiences, the series encourages children to embrace individuality and develop
confidence in their unique abilities.

Our mission statement says
it all: Content with a Purpose. Social justice, caring about the environment and modeling appropriate and inclusionary behavior
for kids has been part of our company for many years and we are constantly seeking ways to improve on what we have already been doing.

Smaller Reporting Company

We are a “smaller reporting
company” as defined in the Securities Exchange Act of 1934, as amended (the “Exchange Act”). As a result, we may take
advantage of certain reduced disclosure obligations available to smaller reporting companies, including the exemption from compliance
with the auditor attestation requirements pursuant to the Sarbanes-Oxley Act of 2022, reduced disclosure about our executive compensation
arrangements and the requirements to provide only two years of audited financial statements in our annual reports and registration statements.
We will continue to be a “smaller reporting company” as long as (1) we have a public float (i.e., the market value of our
American Depositary Shares held by non-affiliates) less than $250 million calculated as of the last business day of our most recently
completed second fiscal quarter, or (2) our annual revenues are less than $100 million for our previous fiscal year and we have either
no public float or a public float of less than $700 million as of the end of that fiscal year’s second fiscal quarter. Decreased
disclosures in our SEC filings due to our status as a “smaller reporting company” may make it harder for investors to analyze
our results of operations and financial prospects.

Company Information

The Company was incorporated
in California on January 3, 2006 and reincorporated in Nevada in October 2011. We commenced operations in January 2006, assuming all of
the rights and obligations of our then Chief Executive Officer under an Asset Purchase Agreement between us and Genius Products, Inc.,
in which we obtained all rights, copyrights, and trademarks to the brands Baby Genius, Kid Genius, 123 Favorite Music and Wee Worship,
and all then existing productions under those titles. In October 2011, we (i) changed our domicile to Nevada from California, and (ii)
changed our name from Pacific Entertainment Corporation to Genius Brands International, Inc. (the “Reincorporation”). In connection
with the Reincorporation, we changed our trading symbol from “PENT” to “GNUS.” In June 2023, we changed our name
Genius Brands International, Inc. to Kartoon Studios, Inc., along with our trading symbol from “GNUS” to “TOON.”

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Our principal executive offices
are located at 190 N Canon Drive, 4th Floor, Beverly Hills, California 90210. Our telephone number is 310-273-4222. We maintain an Internet
website at www.kartoonstudios.com. The information contained on, connected to or that can be accessed via our website is not part of this
Annual Report.

Available Information

We are subject to the informational
requirements of the Exchange Act, and in accordance therewith, we file reports, proxy and information statements and other information
with the SEC. You can read our SEC filings over the Internet at the SEC’s website at www.sec.gov. Our filings with the SEC are also
available free of charge through the investor relations section of our website www.kartoonstudios.com. Reports are available free of charge
as soon as reasonably practicable after we electronically file them with, or furnish them to, the SEC.

Information contained on or
accessible through our website is not incorporated by reference in, or otherwise a part of, this Annual Report on Form 10-K, and any references
to our website are intended to be inactive textual references only.