{"id":2414032,"date":"2026-05-12T21:44:35","date_gmt":"2026-05-12T21:44:35","guid":{"rendered":"https:\/\/celebrity.land\/en\/?p=2414032"},"modified":"2026-05-12T21:44:35","modified_gmt":"2026-05-12T21:44:35","slug":"8-k-dolphin-entertainment-inc-reports-material-event","status":"publish","type":"post","link":"https:\/\/celebrity.land\/en\/8-k-dolphin-entertainment-inc-reports-material-event\/","title":{"rendered":"[8-K] Dolphin Entertainment, Inc. Reports Material Event"},"content":{"rendered":"<p><\/p>\n<div>\n<div style=\"display: none\">\n<header>\n <hidden><br \/>\n  <nonnumeric contextref=\"AsOf2026-05-12\" id=\"Fact000003\" name=\"dei:AmendmentFlag\">false<\/nonnumeric><br \/>\n  <nonnumeric contextref=\"AsOf2026-05-12\" id=\"Fact000004\" name=\"dei:EntityCentralIndexKey\">0001282224<\/nonnumeric><br \/>\n  <\/hidden><br \/>\n <references><br \/>\n  <schemaref xlink:href=\"https:\/\/www.stocktitan.net\/sec-filings\/DLPN\/dlpn-20260512.xsd\" xlink:type=\"simple\"\/><br \/>\n  <\/references><br \/>\n <resources><br \/>\n    <context id=\"AsOf2026-05-12\"><br \/>\n      <entity><br \/>\n        <identifier scheme=\"http:\/\/www.sec.gov\/CIK\">0001282224<\/identifier><br \/>\n      <\/entity>\n      <period>\n        <startdate>2026-05-12<\/startdate><br \/>\n        <enddate>2026-05-12<\/enddate>\n      <\/period>\n    <\/context><br \/>\n    <unit id=\"USD\"><br \/>\n      <measure>iso4217:USD<\/measure><br \/>\n    <\/unit><br \/>\n    <unit id=\"Shares\"><br \/>\n      <measure>xbrli:shares<\/measure><br \/>\n    <\/unit><br \/>\n    <unit id=\"USDPShares\">\n      <divide>\n        <unitnumerator><br \/>\n          <measure>iso4217:USD<\/measure><br \/>\n        <\/unitnumerator><br \/>\n        <unitdenominator><br \/>\n          <measure>xbrli:shares<\/measure><br \/>\n        <\/unitdenominator>\n      <\/divide>\n    <\/unit><br \/>\n  <\/resources><br \/>\n <\/header>\n<\/div>\n<p><!-- Field: Rule-Page --><!-- Field: \/Rule-Page --><\/p>\n<p><!-- Field: Rule-Page --><!-- Field: \/Rule-Page --><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center\"><b>\u00a0<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center\"><b>UNITED STATES<\/b><br \/><b>SECURITIES AND EXCHANGE COMMISSION <br \/>Washington, D.C. 20549<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center\"><b>FORM <span id=\"xdx_90F_edei--DocumentType_c20260512__20260512_zXt8s0MCDfia\"><nonnumeric contextref=\"AsOf2026-05-12\" id=\"Fact000009\" name=\"dei:DocumentType\">8-K<\/nonnumeric><\/span> <\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center\"><span style=\"text-transform: uppercase\"><b>Current<br \/>\nReport<\/b><\/span><br \/><b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center\">Date of Report (Date of earliest event<br \/>\nreported): <b><span id=\"xdx_909_edei--DocumentPeriodEndDate_c20260512__20260512_zFZNlumBaKVh\"><nonnumeric contextref=\"AsOf2026-05-12\" format=\"ixt:datemonthdayyearen\" id=\"Fact000010\" name=\"dei:DocumentPeriodEndDate\">May 12, 2026<\/nonnumeric><\/span><\/b><\/p>\n<p style=\"font: 14pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center\"><span id=\"xdx_907_edei--EntityRegistrantName_c20260512__20260512_zsQCvG2vZp04\"><b><nonnumeric contextref=\"AsOf2026-05-12\" id=\"Fact000011\" name=\"dei:EntityRegistrantName\">DOLPHIN<br \/>\nENTERTAINMENT, INC.<\/nonnumeric><\/b><\/span><br \/><span style=\"font-size: 8pt\"><i>(Exact name of registrant as specified in its charter)<\/i><\/span><\/p>\n<table cellspacing=\"0\" cellpadding=\"0\" style=\"font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse\">\n<tr style=\"vertical-align: top\">\n<td style=\"text-align: center\"><span style=\"font: 10pt\/115% Times New Roman, Times, Serif\"><b><span id=\"xdx_902_edei--EntityIncorporationStateCountryCode_c20260512__20260512_zMUlpVVRgJN3\"><nonnumeric contextref=\"AsOf2026-05-12\" format=\"ixt-sec:stateprovnameen\" id=\"Fact000012\" name=\"dei:EntityIncorporationStateCountryCode\">Florida<\/nonnumeric><\/span> <\/b><\/span><\/td>\n<td style=\"width: 33%; text-align: center\"><span style=\"font: 10pt\/115% Times New Roman, Times, Serif\"><b><span id=\"xdx_904_edei--EntityFileNumber_c20260512__20260512_zKy1cRmEDfj9\"><nonnumeric contextref=\"AsOf2026-05-12\" id=\"Fact000013\" name=\"dei:EntityFileNumber\">001-38331<\/nonnumeric><\/span> <\/b><\/span><\/td>\n<td style=\"width: 33%; text-align: center\"><span style=\"font: 10pt\/115% Times New Roman, Times, Serif\"><b><span id=\"xdx_908_edei--EntityTaxIdentificationNumber_c20260512__20260512_zhOWC3jnBkW7\"><nonnumeric contextref=\"AsOf2026-05-12\" id=\"Fact000014\" name=\"dei:EntityTaxIdentificationNumber\">86-0787790<\/nonnumeric><\/span> <\/b><\/span><\/td>\n<\/tr>\n<tr style=\"vertical-align: top\">\n<td style=\"text-align: center\"><span style=\"font: 8pt\/115% Times New Roman, Times, Serif\"><i>(State<br \/>\n    or other jurisdiction <\/i><\/span><\/td>\n<td style=\"text-align: center\"><span style=\"font: 8pt\/115% Times New Roman, Times, Serif\"><i>(Commission<br \/>\n    <\/i><\/span><\/td>\n<td style=\"text-align: center\"><span style=\"font: 8pt\/115% Times New Roman, Times, Serif\"><i>(IRS<br \/>\n    Employer <\/i><\/span><\/td>\n<\/tr>\n<tr style=\"vertical-align: top\">\n<td style=\"text-align: center\"><span style=\"font: 8pt\/115% Times New Roman, Times, Serif\"><i>of<br \/>\n    incorporation) <\/i><\/span><\/td>\n<td style=\"text-align: center\"><span style=\"font: 8pt\/115% Times New Roman, Times, Serif\"><i>File<br \/>\n    Number) <\/i><\/span><\/td>\n<td style=\"text-align: center\"><span style=\"font: 8pt\/115% Times New Roman, Times, Serif\"><i>Identification<br \/>\n    No.)<\/i><\/span><\/td>\n<\/tr>\n<\/table>\n<p style=\"font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-right: 0; margin-left: 0\"><b>\u00a0<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-right: 0; margin-left: 0\"><span id=\"xdx_90F_edei--EntityAddressAddressLine1_c20260512__20260512_z3zdqJh0Ufna\"><b><nonnumeric contextref=\"AsOf2026-05-12\" id=\"Fact000015\" name=\"dei:EntityAddressAddressLine1\">150<br \/>\nAlhambra Circle<\/nonnumeric><\/b><\/span><b>, <span id=\"xdx_905_edei--EntityAddressAddressLine2_c20260512__20260512_zp37IUIOAWN6\"><nonnumeric contextref=\"AsOf2026-05-12\" id=\"Fact000016\" name=\"dei:EntityAddressAddressLine2\">Suite 1200<\/nonnumeric><\/span><\/b><b>,<br \/>\n<span id=\"xdx_90A_edei--EntityAddressCityOrTown_c20260512__20260512_zUCJyikitH28\"><nonnumeric contextref=\"AsOf2026-05-12\" id=\"Fact000017\" name=\"dei:EntityAddressCityOrTown\">Coral Gables<\/nonnumeric><\/span><\/b><b>, <span id=\"xdx_900_edei--EntityAddressStateOrProvince_c20260512__20260512_zgZenNsIA4Za\"><nonnumeric contextref=\"AsOf2026-05-12\" format=\"ixt-sec:stateprovnameen\" id=\"Fact000018\" name=\"dei:EntityAddressStateOrProvince\">Florida<\/nonnumeric><br \/>\n<\/span><\/b><b><span id=\"xdx_906_edei--EntityAddressPostalZipCode_c20260512__20260512_z8AMB9UXhau6\"><nonnumeric contextref=\"AsOf2026-05-12\" id=\"Fact000019\" name=\"dei:EntityAddressPostalZipCode\">33134<\/nonnumeric><\/span><\/b><br \/><span style=\"font-size: 8pt\"><i>(Address of principal executive offices) (Zip Code)<\/i><\/span><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center\">Registrant&#8217;s telephone number, including area<br \/>\ncode (<span id=\"xdx_90C_edei--CityAreaCode_c20260512__20260512_zqenvPynmzfe\"><b><nonnumeric contextref=\"AsOf2026-05-12\" id=\"Fact000020\" name=\"dei:CityAreaCode\">305<\/nonnumeric><\/b><\/span><b>) <span id=\"xdx_900_edei--LocalPhoneNumber_c20260512__20260512_zkr6fwJyHJna\"><nonnumeric contextref=\"AsOf2026-05-12\" id=\"Fact000021\" name=\"dei:LocalPhoneNumber\">774<br \/>\n-0407<\/nonnumeric><\/span><\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center\"><b>Not Applicable<\/b><\/p>\n<p style=\"font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center\"><i>(Former Name or Former Address, if Changed Since<br \/>\nLast Report)<\/i><\/p>\n<p style=\"font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center\"><i>\u00a0<\/i><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt\">Check the appropriate box below if the Form 8-K filing is intended<br \/>\nto simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.<br \/>\nbelow):<\/p>\n<p style=\"font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt\"><span><span id=\"xdx_901_edei--WrittenCommunications_c20260512__20260512_zyu4SRl4kjic\"><nonnumeric contextref=\"AsOf2026-05-12\" format=\"ixt:booleanfalse\" id=\"Fact000022\" name=\"dei:WrittenCommunications\">\u2610<\/nonnumeric><\/span><\/span> <span>Written<br \/>\ncommunications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<\/span><\/p>\n<p style=\"font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt\"><span><span id=\"xdx_90E_edei--SolicitingMaterial_c20260512__20260512_zctY5b9xY5w\"><nonnumeric contextref=\"AsOf2026-05-12\" format=\"ixt:booleanfalse\" id=\"Fact000023\" name=\"dei:SolicitingMaterial\">\u2610<\/nonnumeric><\/span><\/span> <span>Soliciting<br \/>\nmaterial pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)<\/span><\/p>\n<p style=\"font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt\"><span><span id=\"xdx_908_edei--PreCommencementTenderOffer_c20260512__20260512_zjcd1TiKNJs5\"><nonnumeric contextref=\"AsOf2026-05-12\" format=\"ixt:booleanfalse\" id=\"Fact000024\" name=\"dei:PreCommencementTenderOffer\">\u2610<\/nonnumeric><\/span><\/span> <span>Pre-commencement<br \/>\ncommunications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))<\/span><\/p>\n<p style=\"font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt\"><span><span id=\"xdx_90A_edei--PreCommencementIssuerTenderOffer_c20260512__20260512_zdRg0UjFF1ic\"><nonnumeric contextref=\"AsOf2026-05-12\" format=\"ixt:booleanfalse\" id=\"Fact000025\" name=\"dei:PreCommencementIssuerTenderOffer\">\u2610<\/nonnumeric><\/span><\/span> <span>Pre-commencement<br \/>\ncommunications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))<\/span><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify\">Securities registered pursuant to Section 12(b) of<br \/>\nthe Act:<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify\"><b>\u00a0<\/b><\/p>\n<table cellspacing=\"0\" cellpadding=\"0\" style=\"font: 11pt Arial, Helvetica, Sans-Serif; width: 100%\">\n<tr style=\"vertical-align: bottom\">\n<td style=\"border-bottom: black 1.5pt solid; width: 34%; text-align: center\"><span style=\"font: 10pt Times New Roman, Times, Serif\"><b>Title<br \/>\n    of each class<\/b><\/span><\/td>\n<td style=\"width: 1%; text-align: center\"><b>\u00a0<\/b><\/td>\n<td style=\"border-bottom: black 1.5pt solid; width: 32%; text-align: center\"><span style=\"font: 10pt Times New Roman, Times, Serif\"><b>Trading<br \/>\n    symbol(s)<\/b><\/span><\/td>\n<td style=\"width: 1%; text-align: center\"><b>\u00a0<\/b><\/td>\n<td style=\"border-bottom: black 1.5pt solid; width: 32%; text-align: center\"><span style=\"font: 10pt Times New Roman, Times, Serif\"><b>Name<br \/>\n    of each exchange on which registered<\/b><\/span><\/td>\n<\/tr>\n<tr style=\"vertical-align: top\">\n<td style=\"text-align: center\"><span style=\"font: 10pt Times New Roman, Times, Serif\"><span id=\"xdx_90F_edei--Security12bTitle_c20260512__20260512_zsqoT03q9ps1\"><nonnumeric contextref=\"AsOf2026-05-12\" id=\"Fact000026\" name=\"dei:Security12bTitle\">Common<br \/>\n    Stock<\/nonnumeric><\/span>, $0.015 par value per share<\/span><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: center\"><span style=\"font: 10pt Times New Roman, Times, Serif\"><span id=\"xdx_907_edei--TradingSymbol_c20260512__20260512_zPe1ocz3ejMf\"><nonnumeric contextref=\"AsOf2026-05-12\" id=\"Fact000027\" name=\"dei:TradingSymbol\">DLPN<\/nonnumeric><\/span><\/span><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: center\"><span style=\"font: 10pt Times New Roman, Times, Serif\">The <span id=\"xdx_90D_edei--SecurityExchangeName_c20260512__20260512_zq1rMsuWHRK3\"><nonnumeric contextref=\"AsOf2026-05-12\" format=\"ixt-sec:exchnameen\" id=\"Fact000028\" name=\"dei:SecurityExchangeName\">Nasdaq<\/nonnumeric><\/span><br \/>\n    Capital Market<\/span><\/td>\n<\/tr>\n<\/table>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0\">\u00a0\u00a0<\/p>\n<p style=\"font: 10pt\/115% Times New Roman, Times, Serif; margin: 0\">Indicate by check mark whether the registrant is an emerging growth<br \/>\ncompany as defined in Rule 405 of the Securities Act of 1933 (17 CFR \u00a7230.405) or Rule 12b-2 of the Securities Exchange Act of 1934<br \/>\n(17 CFR \u00a7240.12b-2).<\/p>\n<p style=\"font: 10pt\/115% Times New Roman, Times, Serif; margin: 0\">\u00a0<\/p>\n<p style=\"font: 10pt\/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: right\"><span>Emerging<br \/>\ngrowth company <\/span><span><span id=\"xdx_901_edei--EntityEmergingGrowthCompany_c20260512__20260512_zF43MMQatZ42\"><nonnumeric contextref=\"AsOf2026-05-12\" format=\"ixt:booleanfalse\" id=\"Fact000029\" name=\"dei:EntityEmergingGrowthCompany\">\u2610<\/nonnumeric><\/span><\/span><\/p>\n<p style=\"font: 10pt\/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt\"><span>If<br \/>\nan emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying<br \/>\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <\/span><span>\u2610<\/span><\/p>\n<p style=\"font: 10pt\/115% Arial, Helvetica, Sans-Serif; margin: 0pt\"><span>\u00a0<\/span><\/p>\n<p><!-- Field: Rule-Page --><!-- Field: \/Rule-Page --><\/p>\n<p><!-- Field: Rule-Page --><!-- Field: \/Rule-Page --><\/p>\n<p><!-- Field: Page; Sequence: 1 --><\/p>\n<p>    <!-- Field: \/Page --><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt; margin-left: 0pt; text-indent: 0pt; text-align: justify\"><b>Item<br \/>\n2.02. Results of Operations and Financial Condition.<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 20pt\">On May 12, 2026, Dolphin Entertainment,<br \/>\nInc., a Florida corporation (the \u201c<span style=\"text-decoration: underline\">Company<\/span>\u201d), issued a press release announcing its financial results for the three<br \/>\nmonths ended March 31, 2026. A copy of the Company\u2019s earnings press release is furnished as Exhibit 99.1 to this Current Report<br \/>\non Form 8-K and incorporated herein by reference.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 20pt\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 20pt\">The information contained in<br \/>\nthis Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed \u201cfiled\u201d for purposes of Section 18 of the Securities<br \/>\nExchange Act of 1934, as amended (the \u201cExchange Act\u201d), or otherwise subject to the liabilities of that section, nor incorporated<br \/>\nby reference in any registration statement filed by the Company under the Securities Act of 1933, as amended.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0\"><b>\u00a0<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify\"><b>Item<br \/>\n9.01. Financial Statements and Exhibits.<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0\"><span style=\"font-size: 10pt\"><b><i>(d) Exhibits <\/i><\/b><\/span><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0\">\u00a0<\/p>\n<table cellspacing=\"0\" cellpadding=\"0\" style=\"width: 100%; border-collapse: collapse\">\n<tr style=\"vertical-align: top\">\n<td style=\"border-bottom: Black 1pt solid; width: 12%; padding-right: 5.4pt; padding-left: 5.4pt\">\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0\"><b>Exhibit<br \/>Number<\/b><\/p>\n<\/td>\n<td style=\"border-bottom: Black 1pt solid; text-align: left; width: 88%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom\">\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0\"><b><br \/>\n    Description<\/b><\/p>\n<\/td>\n<\/tr>\n<tr style=\"vertical-align: top\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; text-align: center\">99.1<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; text-align: justify\"><span class=\"filing-link\">Press<br \/>\n    Release dated May 12, 2026<\/span><\/td>\n<\/tr>\n<tr style=\"vertical-align: top\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; text-align: center\">104<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; text-align: justify\">Cover Page Interactive Data File (embedded within the Inline XBRL document).<\/td>\n<\/tr>\n<\/table>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify\"><span style=\"font-size: 10pt\"><i>\u00a0<\/i><\/span><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center\"><span style=\"font-size: 10pt\"><b>SIGNATURES<\/b><\/span><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in\"><span style=\"font-size: 10pt\">Pursuant to the<br \/>\nrequirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned<br \/>\nhereunto duly authorized.<\/span><\/p>\n<table cellspacing=\"0\" cellpadding=\"0\" style=\"font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse\">\n<tr>\n<td style=\"width: 45%\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: bottom; width: 1%\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"width: 4%\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: bottom\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"width: 3%\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: bottom; width: 1%\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"width: 45%\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: bottom\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: top\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: bottom\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td colspan=\"3\" style=\"vertical-align: top\"><span style=\"font-size: 10pt\"><b>DOLPHIN ENTERTAINMENT, INC.<\/b><\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td colspan=\"2\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td colspan=\"2\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td colspan=\"2\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\"><span style=\"font-size: 10pt\">Date: May 12, 2026<\/span><\/td>\n<td style=\"vertical-align: bottom\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: top\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: bottom\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: top\"><span style=\"font-size: 10pt\">By:<\/span><\/td>\n<td style=\"vertical-align: bottom\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: top\">\n<p style=\"border-bottom: black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0\"><span style=\"font-size: 10pt\">\/s\/<br \/>\n    Mirta A. Negrini<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: bottom\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: top\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: bottom\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: top\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: bottom\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: top\"><span style=\"font-size: 10pt\">Mirta A. Negrini<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: bottom\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: top\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: bottom\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: top\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: bottom\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/td>\n<td style=\"vertical-align: top\"><span style=\"font-size: 10pt\">Chief Financial Officer<\/span><\/td>\n<\/tr>\n<\/table>\n<p style=\"margin-top: 0; margin-bottom: 0\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/p>\n<p style=\"margin-top: 0; margin-bottom: 0\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/p>\n<p style=\"margin-top: 0; margin-bottom: 0\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/p>\n<p><!-- Field: Page; Sequence: 2 --><\/p>\n<p>    <!-- Field: \/Page --><\/p>\n<p><!-- BEGIN EXHIBIT: EX-99 --><\/p>\n<div class=\"sec-exhibit\" data-exhibit-type=\"EX-99\" data-exhibit-desc=\"EXHIBIT 99.1\">\n<p style=\"margin: 0; text-align: right\">Exhibit 99.1<\/p>\n<p style=\"margin: 0\">\u00a0<\/p>\n<p style=\"font: 22.5pt Times New Roman, Times, Serif; margin: 0pt 0\">Dolphin Entertainment Reports<br \/>\nFirst Quarter 2026 Results<\/p>\n<p style=\"font: 22.5pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span><b>Q1&#8217;26 Revenue Rises 5.2% YoY to $12.8M<\/b><\/span><\/td>\n<\/tr>\n<\/table>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span><b>Reiterates Expectations for Continued Revenue Growth, Significant Free Cash Flow Generation, and<br \/>\nAdjusted EBITDA Margin Expansion in 2026<\/b><\/span><\/td>\n<\/tr>\n<\/table>\n<p style=\"margin-top: 0; margin-bottom: 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>MIAMI, FL<\/b> \/ Dolphin (NASDAQ:DLPN),<br \/>\na leading entertainment marketing and premium content production company, today announced its financial results for the first quarter<br \/>\nended March 31, 2026.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">Bill O&#8217;Dowd, CEO of Dolphin, commented:<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u201cWhile the first quarter is historically our lightest due to normal<br \/>\nbusiness seasonality, we are pleased to report continued top-line growth, with total revenue increasing 5.2% year-over-year to $12.8 million.<br \/>\nFurthermore, we reduced our Adjusted EBITDA loss by 25% year-over-year. We emphasize Adjusted EBITDA because, given our significant non-cash<br \/>\namortization expenses and minimal capital expenditures, it is a much more accurate reflection of our true cash flow potential than operating<br \/>\nincome.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">As noted in our prior quarter&#8217;s remarks, following several years of<br \/>\nacquisitions and growth-related investment, Dolphin is now well positioned to realize the benefits of that work. We continue to operate<br \/>\nin highly attractive sectors, and with rising profitability, modest capex requirements, and $127 million in NOL carryforwards, we remain<br \/>\nconfident in our ability to generate meaningful free cash flow in the periods ahead. Finally, with insiders holding a substantial stake<br \/>\nin the company, management remains deeply aligned with shareholders in the pursuit of long-term value.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">Looking ahead, we are excited about the rest of 2026, 2027, and beyond.<br \/>\nIn addition to organic improvements in our existing business, there are readily identifiable catalysts that should increase earnings even<br \/>\nmore. We are making progress with our DealMaker partnership, and we just announced a publishing imprint venture with Copper Books and<br \/>\nSimon &amp; Schuster that allows us to offer premium book publishing services to our clients with no upfront capital required from Dolphin.<br \/>\nWe would also remind investors that our bank debt matures in less than two and a half years, which will free up nearly $2.2 million in<br \/>\nannual principal and interest payments. Looking a bit further out, we continue to anticipate roughly $1 million in annualized lease savings<br \/>\nonce our large New York City and Los Angeles leases expire in the second half of 2027. Given our NOLs, which substantially shield us from<br \/>\ncash taxes, the bulk of these combined savings should flow directly to the bottom line, providing a further tailwind to free cash flow.\u201d<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>Q1 2026 and Recent Highlights<\/b><\/p>\n<ul style=\"list-style-type: disc\">\n<li style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>Total revenue<\/b> for the three months ended March 31, 2026, was<br \/>\n$12.8 million, an increase of 5.2% from $12.2 million last year.<\/li>\n<li style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>Operating loss<\/b> was $2.1 million for the three months ended<br \/>\nMarch 31, 2026, compared to an operating loss of $1.8 million for the three months ended March 31, 2025.<\/li>\n<li style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>Operating expenses<\/b> for Q1 2026 were $14.9 million, including<br \/>\nnon-cash expenses of $0.5 million related to depreciation and amortization, a one-time non-recurring distribution guarantee of $0.7 million<br \/>\nand legal and professional fees higher than usual due to litigation costs of approximately $0.2 million. This compares to operating expenses<br \/>\nof $13.9 million in Q1 2025, including depreciation and amortization of $0.6 million and acquisition costs of approximately $0.4 million.<\/li>\n<li style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>Net loss<\/b> for Q1 2026 was $2.7 million as compared to a net<br \/>\nloss of $2.3 million for Q1 2025.<\/li>\n<li style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>Basic and diluted loss per share<\/b> for Q1 2026 was $(0.22) based<br \/>\non 12,327,974 weighted average shares outstanding compared to basic and diluted loss per share in Q1 2025 of $(0.21) based on 11,162,026<br \/>\nweighted average shares outstanding.<\/li>\n<li style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>Adjusted EBITDA loss<\/b> for Q1 2026 of approximately $(467,000)<br \/>\nimproved by 25% compared to approximately $(625,000) in Q1 2025.<\/li>\n<\/ul>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p><!-- Field: Page; Sequence: 1 --><\/p>\n<p>    <!-- Field: \/Page --><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>Dolphin<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Subsidiary clients shaped the Summer 2026 season with culture-defining festivals and events<\/span><\/td>\n<\/tr>\n<\/table>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>CEO was featured on Variety&#8217;s &#8220;Strictly Business&#8221; podcast and discussed the creator economy&#8217;s<br \/>\ntransformation of marketing and consumer product launches<\/span><\/td>\n<\/tr>\n<\/table>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Expanded Miami footprint to support continued growth across subsidiaries<\/span><\/td>\n<\/tr>\n<\/table>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Partnered with DealMaker to unlock community capital for celebrity and influencer brands<\/span><\/td>\n<\/tr>\n<\/table>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Powerhouse subsidiaries led major brand activations during Super Bowl LX<\/span><\/td>\n<\/tr>\n<\/table>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>42West<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>\u00a0<\/b><\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Drove global film publicity at CinemaCon 2026<\/span><\/td>\n<\/tr>\n<\/table>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Delivered marquee talent and a standout film slate at the 2026 SXSW Festival, featuring a company-record<br \/>\n16 world premiere titles and three audience award-winners<\/span><\/td>\n<\/tr>\n<\/table>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Celebrated an Oscar win as &#8220;Mr. Nobody Against Putin&#8221; took Best Documentary Feature at the<br \/>\n98th Academy Awards<\/span><\/td>\n<\/tr>\n<\/table>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Clients presented, performed, and took home honors at the 2026 GRAMMY Awards (in partnership with Shore<br \/>\nFire Media)<\/span><\/td>\n<\/tr>\n<\/table>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Landed six nominations for clients at the 98th Academy Awards<\/span><\/td>\n<\/tr>\n<\/table>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Brought exciting and diverse projects to the 2026 Sundance Film Festival<\/span><\/td>\n<\/tr>\n<\/table>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>\u00a0<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>Shore Fire Media<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>\u00a0<\/b><\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Client and Afrobeat pioneer Fela Kuti became the first African solo artist to be inducted into the Rock<br \/>\n&amp; Roll Hall of Fame<\/span><\/td>\n<\/tr>\n<\/table>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Clients earned 9 nominations for Independent Music&#8217;s top awards<\/span><\/td>\n<\/tr>\n<\/table>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Partnered with The Door on the launch of Pawn Shop, a new sports-driven hospitality concept<\/span><\/td>\n<\/tr>\n<\/table>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Clients presented, performed, and took home honors at the 2026 GRAMMY Awards (in partnership with 42West)<\/span><\/td>\n<\/tr>\n<\/table>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>\u00a0<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>The Door<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>\u00a0<\/b><\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Partnered with Shore Fire Media on the launch of Pawn Shop, a new sports-driven hospitality concept<\/span><\/td>\n<\/tr>\n<\/table>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Launched a Miami hub, expanding Dolphin&#8217;s South Florida presence<\/span><\/td>\n<\/tr>\n<\/table>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>DISRPT Agency, a division of The Door, powered &#8220;Art of Glam&#8221; during Oscars week, driving cultural<br \/>\nmomentum into Camille Rose&#8217;s upcoming Beaut\u00e9 Noir<\/span><\/td>\n<\/tr>\n<\/table>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>\u00a0<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>Elle Communications<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Client Harbor Fund announced Sundance Mountain Resort as the new long-term home of Harbor Film Forum<\/span><\/td>\n<\/tr>\n<\/table>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>\u00a0<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>The Digital Dept.<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Signed reality TV show stars, top beauty creators, and more<\/span><\/td>\n<\/tr>\n<\/table>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>Youngblood<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>\u00a0<\/b><\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>As hockey had a Hollywood moment, Dolphin&#8217;s adaptation of the cult classic Youngblood premiered in Los<br \/>\nAngeles<\/span><\/td>\n<\/tr>\n<\/table>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Partnered with Vaneast Pictures to bring the sports drama Youngblood to Berlin for international sales<\/span><\/td>\n<\/tr>\n<\/table>\n<table cellpadding=\"0\" cellspacing=\"0\" width=\"100%\" style=\"font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt\">\n<tr style=\"vertical-align: top\">\n<td style=\"width: 0.25in\"\/>\n<td style=\"width: 0.25in\"><span>\u00b7<\/span><\/td>\n<td><span>Official trailer and key art were released for Hubert Davis&#8217; adaptation of the hockey classic &#8220;Youngblood&#8221;<\/span><\/td>\n<\/tr>\n<\/table>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p><!-- Field: Page; Sequence: 2 --><\/p>\n<p>    <!-- Field: \/Page --><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>Conference Call Information<\/b>\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">To participate in this event, dial<br \/>\nin approximately 5 to 10 minutes before the beginning of the call.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">Date: May 12, 2026<br \/>Time: 4:30pm ET<br \/>Toll Free: 888-506-0062 International: 973-528-0011 Participant Access Code: 364505<br \/>Webcast:\u00a0https:\/\/www.webcaster5.com\/Webcast\/Page\/2225\/53967<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>Replay<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">Toll Free: 877-481-4010 International:<br \/>\n919-882-2331 Replay Passcode: 53967<br \/>Webcast Replay:\u00a0https:\/\/www.webcaster5.com\/Webcast\/Page\/2225\/53967<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>\u00a0<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">This press release contains &#8216;forward-looking<br \/>\nstatements&#8217; within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements may address, among other<br \/>\nthings, Dolphin Entertainment Inc.&#8217;s offering of common stock as well as expected financial and operational results and the related assumptions<br \/>\nunderlying its expected results. These forward-looking statements are distinguished by the use of words such as &#8220;will,&#8221; &#8220;would,&#8221;<br \/>\n&#8220;anticipate,&#8221; &#8220;expect,&#8221; &#8220;believe,&#8221; &#8220;designed,&#8221; &#8220;plan,&#8221; or &#8220;intend,&#8221; the negative<br \/>\nof these terms, and similar references to future periods. These views involve risks and uncertainties that are difficult to predict and,<br \/>\naccordingly, Dolphin Entertainment&#8217;s actual results may differ materially from the results discussed in its forward-looking statements.<br \/>\nDolphin Entertainment&#8217;s forward-looking statements contained herein speak only as of the date of this press release. Factors or events<br \/>\nDolphin Entertainment cannot predict, including those described in the risk factors contained in its filings with the Securities and Exchange<br \/>\nCommission, may cause its actual results to differ from those expressed in forward-looking statements. Although Dolphin Entertainment<br \/>\nbelieves the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that<br \/>\nits expectations will be achieved, and Dolphin Entertainment undertakes no obligation to update publicly any forward-looking statements<br \/>\nas a result of new information, future events, or otherwise, except as required by applicable law.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">CONTACT:<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">James Carbonara<br \/>HAYDEN IR<br \/>(646)-755-7412<br \/>james@haydenir.com<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\"><b>ABOUT DOLPHIN:<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\"><b>\u00a0<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">Dolphin (NASDAQ:DLPN) is where cultural creation<br \/>\nmeets marketing execution. Founded in 1996 by Bill O&#8217;Dowd, Dolphin operates as both a venture studio-developing and investing in breakthrough<br \/>\ncontent, products, and experiences-and a marketing consortium, featuring leading agencies across every communications discipline.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">At its core, the venture studio creates, produces,<br \/>\nfinances, markets, and promotes new businesses and cultural ideas &#8211; ranging from acclaimed film, television, and digital content to consumer<br \/>\ngoods, live events and partnerships that define entertainment and lifestyle. Surrounding this entrepreneurial engine, Dolphin&#8217;s marketing<br \/>\nprowess brings together best-in-class firms including 42West, The Door, Shore Fire Media, Elle Communications, Special Projects and The<br \/>\nDigital Dept. Together, this collective delivers unmatched cross-marketing expertise and relationships across every vertical of pop culture<br \/>\n&#8211; from film, television, music, influencers, sports, hospitality, and fashion to consumer brands and purpose-driven initiatives. Dolphin<br \/>\nmarketing has been the recipient of many accolades, including #1 Agency of the Year on the Observer PR Power List in 2025, The PR Net<br \/>\n100, and the PR News Elite 120.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">Follow us on Instagram\u00a0here.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p><!-- Field: Page; Sequence: 3 --><\/p>\n<p>    <!-- Field: \/Page --><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">DOLPHIN ENTERTAINMENT, INC. AND SUBSIDIARIES<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">CONDENSED CONSOLIDATED BALANCE SHEETS<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">(Unaudited)<\/p>\n<p style=\"font: 10pt\/10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt\/10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" style=\"border-collapse: collapse; width: 100%; font: 12pt Arial, Helvetica, Sans-Serif\">\n<tr style=\"vertical-align: bottom\">\n<td><span>\u00a0<\/span><\/td>\n<td style=\"font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\"><span>\u00a0<\/span><\/td>\n<td colspan=\"2\" style=\"font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid\"><span>March<br \/>\n    31, 2026<\/span><\/td>\n<td style=\"padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif\"><span>\u00a0<\/span><\/td>\n<td style=\"font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\"><span>\u00a0<\/span><\/td>\n<td colspan=\"2\" style=\"font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid\"><span>December<br \/>\n    31, 2025<\/span><\/td>\n<td style=\"padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif\"><span>\u00a0<\/span><\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: bold 10pt Times New Roman, Times, Serif; text-decoration: underline; text-align: center\">ASSETS<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif\">Current<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"width: 66%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 0.25in\">Cash and cash equivalents<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: right\">6,283,857<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: right\">8,756,585<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 0.25in\">Restricted cash<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">925,004<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">925,004<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 0.25in\">Accounts receivable:<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 30pt\">Trade, net of allowance of $449,279 and $1,327,808, respectively<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">6,952,004<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">7,848,970<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 30pt\">Other receivables<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">4,384,663<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">5,243,931<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -6pt; padding-left: 0.25in\">Other current assets<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">1,201,594<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">1,179,498<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 30pt\">Total current assets<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">19,747,122<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">23,953,988<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">Capitalized production costs, net<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">542,305<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">520,338<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">Employee receivable<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">1,228,085<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">1,196,085<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">Right-of-use assets<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">2,630,279<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">3,012,941<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif\">Goodwill<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">21,507,944<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">21,507,944<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">Intangible assets, net<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">7,375,731<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">7,898,607<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">Property, equipment and leasehold improvements, net<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">38,410<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">50,961<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt\">Other long-term assets<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">198,296<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">189,296<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; text-indent: -6pt; padding-left: 30pt\">Total Assets<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right\">53,268,172<\/td>\n<td style=\"padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right\">58,330,160<\/td>\n<td style=\"padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p style=\"font: 10pt\/115% Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in\"><b>\u00a0<\/b><\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" style=\"border-collapse: collapse; width: 100%; font: 12pt Arial, Helvetica, Sans-Serif\">\n<tr style=\"vertical-align: bottom\">\n<td style=\"padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center\"><u>LIABILITIES<\/u><\/td>\n<td style=\"padding-bottom: 1pt\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right\">\u00a0<\/td>\n<td style=\"padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"padding-bottom: 1pt\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right\">\u00a0<\/td>\n<td style=\"padding-bottom: 1pt\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif\">Current<\/td>\n<td>\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"width: 66%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 0.25in\">Accounts payable<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: right\">2,415,858<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: right\">3,096,715<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 0.25in\">Term loans, current portion<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">1,852,548<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">1,813,760<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 0.25in\">Revolving line of credit<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">400,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">400,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 0.25in\">Notes payable, current portion<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">3,500,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">3,500,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 0.25in\">Convertible notes payable, current portion<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">1,550,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">1,250,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 0.25in\">Accrued interest \u2013 related party<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">2,163,116<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">2,043,087<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 0.25in\">Accrued compensation \u2013 related party<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">2,625,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">2,625,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 0.25in\">Lease liabilities, current portion<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">1,671,364<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">1,912,482<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 0.25in\">Deferred revenue<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">953,969<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">794,177<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -6pt; padding-left: 0.25in\">Other current liabilities<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">10,010,068<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">11,096,820<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -6pt; padding-left: 30pt\">Total current liabilities<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">27,141,923<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">28,532,041<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif\">Noncurrent<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 0.25in\">Term loans, noncurrent portion<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">2,502,601<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">2,976,930<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 0.25in\">Notes payable, noncurrent portion<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">4,580,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">4,580,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 0.25in\">Convertible notes payable<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">5,900,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">6,460,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 0.25in\">Convertible notes payable\u2013 related party<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">2,839,556<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">2,904,357<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 0.25in\">Convertible notes payable at fair value<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">260,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">270,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 0.25in\">Loans from related party<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">983,112<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">983,112<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 0.25in\">Lease liabilities<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">1,271,028<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">1,469,386<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -6pt; padding-left: 0.25in\">Deferred tax liability<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">481,561<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">463,909<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -6pt; padding-left: 30pt\">Total Liabilities<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">45,959,781<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">48,639,735<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: bold 10pt Times New Roman, Times, Serif; text-decoration: underline; text-align: center\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: bold 10pt Times New Roman, Times, Serif; text-decoration: underline; text-align: center\">STOCKHOLDERS\u2019 EQUITY<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 6pt\">Preferred Stock, Series C, $0.001 par value, 50,000 shares authorized, 50,000 shares issued and outstanding at March 31, 2026 and December 31, 2025<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">1,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">1,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 6pt\">Common stock, $0.015 par value, 200,000,000 shares authorized, 12,513,104 and 12,221,432 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">187,697<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">183,321<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; padding-left: 6pt\">Additional paid-in capital<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">159,114,925<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">158,809,301<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -6pt; padding-left: 6pt\">Accumulated deficit<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">(151,995,231<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">(149,303,197<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -6pt; padding-left: 30pt\">Total Stockholders\u2019 Equity<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">7,308,391<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">9,690,425<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; text-indent: -6pt; padding-left: 30pt\">Total Liabilities and Stockholders\u2019 Equity<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right\">53,268,172<\/td>\n<td style=\"padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right\">58,330,160<\/td>\n<td style=\"padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p style=\"font: 10pt\/115% Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt\/115% Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p><!-- Field: Page; Sequence: 4 --><\/p>\n<p>    <!-- Field: \/Page --><\/p>\n<p style=\"font: 10pt\/115% Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">DOLPHIN ENTERTAINMENT, INC. AND SUBSIDIARIES<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">(unaudited)<\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" style=\"border-collapse: collapse; width: 100%; font: 12pt Arial, Helvetica, Sans-Serif\">\n<tr style=\"vertical-align: bottom\">\n<td style=\"text-align: center\"><span>\u00a0<\/span><\/td>\n<td><span>\u00a0<\/span><\/td>\n<td colspan=\"2\" style=\"text-align: center\"><span>\u00a0<\/span><\/td>\n<td><span>\u00a0<\/span><\/td>\n<td><span>\u00a0<\/span><\/td>\n<td colspan=\"2\" style=\"text-align: center\"><span>\u00a0<\/span><\/td>\n<td><span>\u00a0<\/span><\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td><span>\u00a0<\/span><\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\"><span>\u00a0<\/span><\/td>\n<td colspan=\"6\" style=\"font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid\">\n<p style=\"font: 10pt\/115% Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\"><span><b>Three<br \/>\n                                            Months Ended<\/b><\/span><\/p>\n<p style=\"font: 10pt\/115% Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\"><span><b>March<br \/>\n                     31,<\/b><\/span><\/p>\n<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif\"><span>\u00a0<\/span><\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td><span>\u00a0<\/span><\/td>\n<td style=\"font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\"><span>\u00a0<\/span><\/td>\n<td colspan=\"2\" style=\"font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid\"><span>2026<\/span><\/td>\n<td style=\"padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif\"><span>\u00a0<\/span><\/td>\n<td style=\"font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\"><span>\u00a0<\/span><\/td>\n<td colspan=\"2\" style=\"font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid\"><span>2025<\/span><\/td>\n<td style=\"padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif\"><span>\u00a0<\/span><\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td><span>\u00a0<\/span><\/td>\n<td><span>\u00a0<\/span><\/td>\n<td colspan=\"2\"><span>\u00a0<\/span><\/td>\n<td><span>\u00a0<\/span><\/td>\n<td><span>\u00a0<\/span><\/td>\n<td colspan=\"2\"><span>\u00a0<\/span><\/td>\n<td><span>\u00a0<\/span><\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"width: 66%; font: 10pt Times New Roman, Times, Serif\">Revenues<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: right\">12,803,937<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: right\">12,169,711<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif\">Expenses:<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 10pt\">Direct costs<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">784,650<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">344,414<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 10pt\">Payroll and benefits<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">10,715,144<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">10,304,233<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 10pt\">Selling, general and administrative<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">2,047,161<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">1,772,444<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 10pt\">Depreciation and amortization<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">537,276<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">591,552<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 10pt\">Acquisition cost<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">\u2014<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">416,171<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: 10pt\">Legal and professional<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">856,138<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">514,424<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 20pt\">Total expenses<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">14,940,369<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">13,943,238<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">Loss from operations<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">(2,136,432<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">(1,773,527<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">Other (expenses) income:<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 10pt\">Change in fair value of convertible note<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">10,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">20,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: 10pt\">Interest expense, net<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">(547,950<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">(554,013<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: 20pt\">Total other (expenses) income, net<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">(537,950<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">(534,013<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt\">Loss before income taxes<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">(2,674,382<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">(2,307,540<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt\">Income tax expense<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">(17,652<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">(21,522<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt\">Net loss<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right\">(2,692,034<\/td>\n<td style=\"padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right\">(2,329,062<\/td>\n<td style=\"padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif\">Loss per share:<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-indent: 10pt\">Basic<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">(0.22<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">(0.21<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-indent: 10pt\">Diluted<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">(0.22<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">(0.21<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif\">Weighted average number of shares outstanding:<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-indent: 10pt\">Basic<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">12,327,974<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">11,162,026<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-indent: 10pt\">Diluted<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">12,327,974<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">11,162,026<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p style=\"font: 10pt\/115% Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt\/115% Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p><!-- Field: Page; Sequence: 5 --><\/p>\n<p>    <!-- Field: \/Page --><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>Use of Non-GAAP Financial Measures<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\"><b>\u00a0<\/b><\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in\">In order to provide greater<br \/>\ntransparency regarding our operating performance, the financial results in this press release refer to a non-GAAP financial measure that<br \/>\ninvolves adjustments to GAAP results. Non-GAAP financial measures exclude certain income and\/or expense items that management deems are<br \/>\nnot directly attributable to the Company&#8217;s core operating results and\/or certain items that are inconsistent in amounts and frequency,<br \/>\nmaking it difficult to perform a meaningful evaluation of our current or past operating performance.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in\">\u00a0<\/p>\n<p style=\"font: 10pt\/115% Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in\">Adjusted earnings before interest, taxes,<br \/>\ndepreciation and amortization (\u201cAdjusted EBITDA\u201d) is defined by Dolphin as net (loss) or income adjusted for (i) interest,<br \/>\n(ii) taxes, (iii) depreciation and amortization, (iv) acquisition costs, (v) change in fair value of convertible note, (vi) allowance<br \/>\nfor credit losses, (vii) litigation costs; (viii) other one-time or non-cash costs.<\/p>\n<p style=\"font: 10pt\/115% Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in\">\u00a0<\/p>\n<p style=\"font: 10pt\/115% Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in\">Management believes that the presentation<br \/>\nof operating results using this non-GAAP financial measure provides useful supplemental information for investors by providing them with<br \/>\nthe non-GAAP financial measure used by management for financial and operational decision making, planning and forecasting and in managing<br \/>\nthe business. This non-GAAP financial measure does not replace the presentation of financial information in accordance with U.S. GAAP.<br \/>\nThese non-GAAP financial results should not be considered a measure of liquidity and is unlikely to be comparable to non-GAAP financial<br \/>\nmeasures provided by other companies.<\/p>\n<p style=\"font: 10pt\/115% Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in\">\u00a0<\/p>\n<p><!-- Field: Page; Sequence: 6 --><\/p>\n<p>    <!-- Field: \/Page --><\/p>\n<p style=\"font: 10pt\/115% Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt\/115% Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\"><b>Reconciliation of GAAP net loss to non-GAAP<br \/>\nAdjusted EBITDA loss<\/b><\/p>\n<p style=\"font: 10pt\/115% Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">\u00a0<\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" style=\"border-collapse: collapse; width: 100%; font: 12pt Arial, Helvetica, Sans-Serif\">\n<tr style=\"vertical-align: bottom\">\n<td style=\"text-align: center\"><span>\u00a0<\/span><\/td>\n<td><span>\u00a0<\/span><\/td>\n<td colspan=\"2\" style=\"text-align: center\"><span>\u00a0<\/span><\/td>\n<td><span>\u00a0<\/span><\/td>\n<td><span>\u00a0<\/span><\/td>\n<td colspan=\"2\" style=\"text-align: center\"><span>\u00a0<\/span><\/td>\n<td><span>\u00a0<\/span><\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td><span>\u00a0<\/span><\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\"><span>\u00a0<\/span><\/td>\n<td colspan=\"6\" style=\"font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid\">\n<p style=\"font: 10pt\/115% Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\"><span><b>Three<br \/>\n                                            Months Ended\u00a0<\/b><\/span><\/p>\n<p style=\"font: 10pt\/115% Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\"><span><b>March<br \/>\n                                            31,\u00a0<\/b><\/span><\/p>\n<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif\"><span>\u00a0<\/span><\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td><span>\u00a0<\/span><\/td>\n<td style=\"font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\"><span>\u00a0<\/span><\/td>\n<td colspan=\"2\" style=\"font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid\"><span>2026<\/span><\/td>\n<td style=\"padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif\"><span>\u00a0<\/span><\/td>\n<td style=\"font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\"><span>\u00a0<\/span><\/td>\n<td colspan=\"2\" style=\"font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid\"><span>2025<\/span><\/td>\n<td style=\"padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif\"><span>\u00a0<\/span><\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td><span>\u00a0<\/span><\/td>\n<td><span>\u00a0<\/span><\/td>\n<td colspan=\"2\"><span>\u00a0<\/span><\/td>\n<td><span>\u00a0<\/span><\/td>\n<td><span>\u00a0<\/span><\/td>\n<td colspan=\"2\"><span>\u00a0<\/span><\/td>\n<td><span>\u00a0<\/span><\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"width: 66%; font: 10pt Times New Roman, Times, Serif; text-align: left\">Net (loss) income (GAAP)<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: right\">(2,692,034<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: right\">(2,329,062<\/td>\n<td style=\"width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">Adjustments to GAAP measure:<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 10pt\">Interest expense<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">547,950<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">554,013<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 10pt\">Income tax expense<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">17,652<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">21,522<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 10pt\">Depreciation and amortization<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">537,276<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">591,552<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 10pt\">Acquisition costs<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">52,728<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">416,171<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0\u00a0\u00a0\u00a0Change in fair value of convertible note<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">(10,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">(20,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0\u00a0\u00a0\u00a0Allowance for credit losses<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">149,791<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">55,754<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0\u00a0\u00a0\u00a0One-time advance on distribution of Youngblood<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">700,000<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">\u2014<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 10pt\">Litigation costs<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">229,376<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: right\">\u2014<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: 10pt\">One-time signing bonus<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">\u2014<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<td style=\"border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right\">85,000<\/td>\n<td style=\"padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">\u00a0<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; text-indent: 10pt\">Adjusted EBITDA (non-GAAP)<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right\">(467,261<\/td>\n<td style=\"padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<td style=\"font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt\">\u00a0<\/td>\n<td style=\"border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left\">$<\/td>\n<td style=\"border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right\">(625,050<\/td>\n<td style=\"padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left\">)<\/td>\n<\/tr>\n<tr style=\"vertical-align: bottom\">\n<td style=\"text-indent: 10pt\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<td style=\"text-align: right\">\u00a0<\/td>\n<td style=\"text-align: left\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p style=\"margin: 0\">\u00a0<\/p>\n<p style=\"margin: 0\">\u00a0<\/p>\n<\/div>\n<p><!-- END EXHIBIT: EX-99 --><\/p><\/div>\n<p><em> \u2018 The preceding article may include information circulated by third parties \u2019 <\/em><\/p>\n<p><em> \u2018 Some details of this article were extracted from the following source www.stocktitan.net \u2019 <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>false 0001282224 0001282224 2026-05-12 2026-05-12 iso4217:USD xbrli:shares iso4217:USD xbrli:shares \u00a0 UNITED STATESSECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current ReportPursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 12, 2026 DOLPHIN ENTERTAINMENT, INC.(Exact name of registrant as specified in its [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2414033,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"footnotes":""},"categories":[25172],"tags":[472433,469223,469220,472434,418689,418691,418692],"class_list":["post-2414032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entertainment","tag-dlpn-form-8-k","tag-dlpn-regulatory-filing","tag-dlpn-sec-filing","tag-dolphin-entmt-inc-8-k","tag-edgar-filing","tag-financial-disclosure","tag-investment-research"],"jetpack_featured_media_url":"https:\/\/celebrity.land\/en\/wp-content\/uploads\/2026\/05\/8-K-Dolphin-Entertainment-Inc-Reports-Material-Event.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2414032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/comments?post=2414032"}],"version-history":[{"count":1,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2414032\/revisions"}],"predecessor-version":[{"id":2414034,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2414032\/revisions\/2414034"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media\/2414033"}],"wp:attachment":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media?parent=2414032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/categories?post=2414032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/tags?post=2414032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}