All for One Media Corp. (referred to herein as the "Company," "All for One" or "AFOM") was incorporated under the laws of the State of Utah on March 2, 2004, as "Early Equine, Inc." The Company is principally engaged in content development of media targeted at the "tween" demographic consisting of children between the ages of seven and fourteen. We specialize in creating, launching, and marketing original pop music performed by "boy bands" and "girl groups," though we also produce motion pictures, pre-recorded music, television, live concert performances, and licensed merchandise. On October 26, 2015, the Company entered into an asset exchange agreement with Crazy for the Boys, LLC, a Delaware limited liability company ("CFTB"), wherein the Company acquired movie screenplays, master recordings, trademarks, URLs, and other assets from CFTB in exchange for 5,201,500 shares of the Company's common stock. On November 4, 2015 the Company changed its name to All for One Media Corp.
We have generated nominal revenues, we have an accumulated deficit of $8.6 million as of September 30, 2018, and we anticipate generating losses for the next twelve months. As of September 30, 2018, we had cash and cash equivalents of $58,344, and we will need to raise capital to implement our planned operations. If we are unable to do so, an entire investment in our stock could be lost. To address this concern, we have had discussions with prospective investors interested in financing the Company directly, as well as joint venture partners who have expressed interest in funding or co-funding certain of our projects. Our independent public accounting firm has issued an audit opinion, which includes a statement that the results of our operations and our financial condition raise substantial doubt about our ability to continue as a going concern.
The Company competes with all forms of entertainment. A large number of companies, many with significantly more resources than All for One Media, Inc., produce and distribute film and music recordings, exploit products in the home entertainment market, and produce music for live theater and performance. Our competitive position primarily depends on the amount and quality of the content produced, its distribution and marketing success, and public response. We also compete to obtain creative and performing talents, story properties, and many other rights that are essential to the success of our business. Operating results for these offerings are influenced by seasonal consumer purchasing behavior, consumer preferences, levels of marketing and promotion, and by the timing and performance of releases, which may be directly or indirectly influenced by competitors.