HOLLYWOOD MEDIA CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS


		June 30,	December 31,
		2004	2003
		(Unaudited)
ASSETS

CURRENT ASSETS:
	Cash and cash equivalents	$9,297,242	$1,867,999
	Receivables, net	1,344,930	1,496,934
	Inventories, net	6,619,689	5,770,289
	Prepaid expenses	1,231,593	941,966
	Acquisition deposit	769,000	–
	Other receivables	892,850	654,141
	Other current assets	73,972	10,296
	Deferred advertising – CBS	–	38,807
	Total current assets	20,229,276	10,780,432

RESTRICTED CASH		1,075,000	850,000
PROPERTY AND EQUIPMENT, net		2,182,509	2,236,906
INVESTMENTS IN AND ADVANCES TO EQUITY METHOD INVESTEES		560,679	164,205
IDENTIFIABLE INTANGIBLE ASSETS, net		1,256,073	1,603,985
GOODWILL		41,137,461	40,813,682
OTHER ASSETS		359,919	431,811
TOTAL ASSETS		$66,800,917	$56,881,021

	LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES:
	Accounts payable	$1,555,797	$2,201,431
	Accrued expenses and other	4,009,208	5,178,467
	Loan from shareholder/officer	200,000	600,000
	Deferred revenue	8,094,268	9,063,317
	Current portion of capital lease obligations	186,507	227,538
	Current portion of convertible debentures, net	4,282,946	–
	Total current liabilities	18,328,726	17,270,753

CAPITAL LEASE OBLIGATIONS, less current portion		142,479	178,790
DEFERRED REVENUE, less current portion		163,313	193,063
MINORITY INTEREST		7,662	21,895
OTHER DEFERRED LIABILITY		198,646	903,192
CONVERTIBLE DEBENTURES, NET, less current portion		–	4,027,629

COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS’ EQUITY:
Preferred Stock, $.01 par value, 1,000,000 shares authorized; none outstandingSeries A variable rate convertible preferred stock, $6.25 stated value, 217,600 shares authorized; 217,600 shares issued and outstanding at December 31,1998. Series B variable rate convertible preferred stock, $5.21 stated value, 142,223 shares authorized; 122,846 shares issued and outstanding at December 31,1998. Series C, 4% convertible preferred stock, $100 stated value, 100,000 shares authorized; 20,000 shares issued and outstanding at December 31,1998.Series D, 7% convertible preferred stock, $10,000 stated value, 1,000 shares authorized; 250 shares issued and outstanding December 31,1998.Series D-2, 7% convertible preferred stock, $10,000 stated value, 50 shares authorized; 50 shares issued and outstanding at December 31,1998.Common stock, $.01 par value, 100,000,000 shares authorized; 27,885,475 and 21,810,266 shares issued and outstanding at June 30, 2004 and December 31, 2003, respectively












		278,855	218,103
	Additional paid-in capital	295,429,466	279,087,772
	Deferred compensation	–	(162,500)
	Accumulated deficit	(247,748,230)	(244,857,676)
	Total shareholders’ equity	47,960,091	34,285,699
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$66,800,917	$56,881,021

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

CONDENSED CONSOLIDATED BALANCE SHEETS

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