加州卡爾弗城2024年4月2日 /美通社/ -- Snail, Inc. (納斯達(dá)克股票代碼: SNAL) (以下簡(jiǎn)稱"蝸牛"或"公司"）是一家領(lǐng)先的全球獨(dú)立開(kāi)發(fā)商和發(fā)行商，專注于互動(dòng)數(shù)字娛樂(lè)，今日宣布截至2023年12月31日的第四季度和全年的財(cái)務(wù)業(yè)績(jī)。
蝸牛游戲首席執(zhí)行官Jim Tsai評(píng)論道："過(guò)去的一年對(duì)于蝸牛游戲來(lái)說(shuō)充滿了令人激動(dòng)的里程碑。我們推出了方舟：生存飛升（ARK: Survival Ascended），并在首兩周內(nèi)銷售超過(guò)60萬(wàn)份，而迄今銷售量已突破150萬(wàn)套。我們很高興看到方舟系列的持續(xù)熱銷，并計(jì)劃在2024年再接再厲。"
2023年第四季度及全年業(yè)務(wù)亮點(diǎn)：
凈收入截至2023年12月31日三個(gè)月為2,860萬(wàn)美元，而同比截至2022年12月31日三個(gè)月為1,530萬(wàn)美元。凈收入的增加主要是由于方舟：生存飛升的發(fā)行。
凈收入截至2023年12月31日全年為6,090萬(wàn)美元，較去年同期為7,440萬(wàn)美元。凈收入減少的原因?yàn)榉街凼钟武N售額減少290萬(wàn)美元，2022年確認(rèn)的合同一次性遞延性收入減少1,030萬(wàn)美元，在2022年的與免費(fèi)下載促銷和DLC有關(guān)的一次性付款850萬(wàn)美元未在2023年發(fā)生，以及與方舟有關(guān)的遞延收入增加2,520萬(wàn)美元；部分被方舟銷售額增加的3,270萬(wàn)美元所抵消。
凈利潤(rùn)截至2023年12月31日三個(gè)月為240萬(wàn)美元，而同比截至2022年12月31日三個(gè)月的凈虧損為230萬(wàn)美元。凈利潤(rùn)的增加是由于方舟：生存飛升的發(fā)布，一般和行政費(fèi)用減少250萬(wàn)美元，以及與遵守上市公司要求相關(guān)專業(yè)費(fèi)用減少；部分被與方舟：生存飛升發(fā)行相關(guān)的增加的90萬(wàn)美元廣告和營(yíng)銷成本，以及本期所得稅收益減少390萬(wàn)美元所抵消。
凈虧損截至2023年12月31日全年為910萬(wàn)美元，較同比截至2022年全年的凈收入為100萬(wàn)美元。減少是由于收入減少了1,350萬(wàn)美元，研發(fā)成本增加了220萬(wàn)美元，廣告和營(yíng)銷成本增加了90萬(wàn)美元，利息費(fèi)用增加了60萬(wàn)美元，關(guān)聯(lián)方利息收入減少了60萬(wàn)美元；部分被收入成本減少的480萬(wàn)美元和一般和行政費(fèi)用減少的290萬(wàn)美元所抵消。
訂購(gòu)額（Bookings）截至2023年12月31日三個(gè)月為5,260萬(wàn)美元，而同比截至2022年12月31日三個(gè)月為1,190萬(wàn)美元。訂購(gòu)額的增加是由于方舟：生存飛升在Steam、PlayStation和Xbox平臺(tái)的強(qiáng)勢(shì)發(fā)布。
訂購(gòu)額截至2023年12月31日全年為8,570萬(wàn)美元，而同比截至2022年12月31日的全年為6,370萬(wàn)美元。訂購(gòu)額的增加是由于方舟：生存飛升在2023年第四季度發(fā)售。除了方舟：生存飛升銷售額的增加，公司在2023年第四季度遞延了方舟：生存飛升的尚未發(fā)布的DLC約2,200萬(wàn)美元的收入，以及在2022年確認(rèn)的1,030萬(wàn)美元的一次性遞延合同收入未在2023年發(fā)生。
息稅折舊攤銷前利潤(rùn)（"EBITDA"）截至2023年12月31日三個(gè)月較同比截至2022年12月31日三個(gè)月增加了880萬(wàn)美元，即169%。EBITDA的增長(zhǎng)主要是凈利潤(rùn)增加了470萬(wàn)美元，部分被所得稅準(zhǔn)備金增加的380萬(wàn)美元所抵消。
EBITDA截至2023年12月31日全年較同比截至2022年12月31日全年減少900萬(wàn)美元。EBITDA的減少主要是由于凈利潤(rùn)減少了1,010萬(wàn)美元，部分被利息收入減少的70萬(wàn)美元和利息費(fèi)用增加的60萬(wàn)美元所抵消。
截至2023年12月31日，未受限制的現(xiàn)金為1,520萬(wàn)美元，而同比截至2022年12月31日為1,290萬(wàn)美元。
非GAAP財(cái)務(wù)指標(biāo)的使用
除了按照美國(guó)公認(rèn)會(huì)計(jì)原則（GAAP）確定的財(cái)務(wù)結(jié)果外，蝸牛游戲認(rèn)為，訂購(gòu)額（Bookings）和息稅折舊攤銷前利潤(rùn)(EBITDA)作為非GAAP指標(biāo)，有助于評(píng)估其經(jīng)營(yíng)業(yè)績(jī)。訂購(gòu)額和EBITDA是作為補(bǔ)充披露的非GAAP財(cái)務(wù)指標(biāo)，不應(yīng)被視為凈利潤(rùn)（虧損）或收入這兩個(gè)運(yùn)營(yíng)業(yè)績(jī)指標(biāo)的替代指標(biāo)，也不應(yīng)被視為衡量運(yùn)營(yíng)活動(dòng)提供的現(xiàn)金流量的替代指標(biāo)，兩者均按照GAAP確定。蝸牛游戲補(bǔ)充呈現(xiàn)訂購(gòu)額和EBITDA，是為管理層用于評(píng)估財(cái)務(wù)業(yè)績(jī)的關(guān)鍵運(yùn)營(yíng)指標(biāo)。訂購(gòu)額調(diào)整了遞延收入的影響，蝸牛游戲認(rèn)為其提供了在給定時(shí)期內(nèi)銷售情況的有用指標(biāo)。EBITDA調(diào)整了蝸牛游戲認(rèn)為不反映其業(yè)務(wù)持續(xù)運(yùn)營(yíng)業(yè)績(jī)的項(xiàng)目，例如某些非現(xiàn)金項(xiàng)目、不尋常或非經(jīng)常性項(xiàng)目，或者期間內(nèi)發(fā)生變化但對(duì)其運(yùn)營(yíng)業(yè)績(jī)沒(méi)有實(shí)質(zhì)性關(guān)聯(lián)的項(xiàng)目。管理層認(rèn)為，訂購(gòu)額和EBITDA有助于投資者和分析師了解蝸牛游戲的關(guān)鍵經(jīng)營(yíng)業(yè)績(jī)趨勢(shì)，而其他指標(biāo)可能因長(zhǎng)期戰(zhàn)略決策如資本結(jié)構(gòu)、蝸牛游戲所在的稅收管轄區(qū)和資本投資而產(chǎn)生差異。
訂購(gòu)額（Bookings）是指當(dāng)期內(nèi)以數(shù)字或?qū)嵨锓绞戒N售的產(chǎn)品和服務(wù)的凈額。訂購(gòu)額等于收入扣除遞延的影響。以下是總凈收入與訂購(gòu)額的調(diào)整，并是最接近GAAP的財(cái)務(wù)指標(biāo)。
Three Months ended December 31, |
Years ended December 31, |
||||
2023 |
2022 |
2023 |
2022 |
||
(in millions) |
(in millions) |
||||
Total net revenue |
$ 28.6 |
$ 15.3 |
$ 60.9 |
$ 74.4 |
|
Change in deferred net revenue |
24.0 |
(3.4) |
24.8 |
(10.7) |
|
Bookings |
$ 52.6 |
$ 11.9 |
$ 85.7 |
$ 63.7 |
|
我們將EBITDA定義為凈利潤(rùn)（虧損），扣除以下項(xiàng)目：(i)利息費(fèi)用，(ii)利息收入，(iii)所得稅準(zhǔn)備金（收益）和(iv)折舊及攤銷費(fèi)用。以下表格提供了從凈利潤(rùn)（虧損）與EBITDA的調(diào)整：
Three Months ended December 31, |
Years ended December 31, |
||||
2023 |
2022 |
2023 |
2022 |
||
(in millions) |
(in millions) |
||||
Net (loss) income |
$ 2.4 |
$ (2.3) |
$ (9.1) |
$ 1.0 |
|
Interest income and interest income?–?related parties |
- |
(0.2) |
(0.1) |
(0.8) |
|
Interest expense and interest expense?–?related parties |
0.5 |
0.3 |
1.5 |
0.9 |
|
(Benefit from) provision for income taxes |
0.6 |
(3.2) |
(2.4) |
(2.4) |
|
Depreciation and amortization expense, property and equipment |
0.1 |
0.2 |
0.4 |
0.6 |
|
EBITDA |
$ 3.6 |
$ (5.2) |
$ (9.7) |
$ (0.7) |
|
會(huì)議詳情
公司將于今天美國(guó)東部時(shí)間下午4:30舉辦一場(chǎng)會(huì)議，討論2023年第四季度和全年財(cái)務(wù)業(yè)績(jī)。參與者可以訪問(wèn)公司的投資者關(guān)系網(wǎng)站https://investor.snail.com/，加入會(huì)議直播和重播。
前瞻性聲明
本新聞稿包含構(gòu)成前瞻性聲明的陳述。本新聞稿中包含的許多前瞻性聲明可以通過(guò)使用"預(yù)期"、"相信"、"可能"、"預(yù)計(jì)"、"應(yīng)該"、"計(jì)劃"、"打算"、"預(yù)測(cè)"、"繼續(xù)"、"估計(jì)"和"潛在"等前瞻性詞匯或其他類似表達(dá)來(lái)識(shí)別。本新聞稿的多出出現(xiàn)前瞻性表述，包括但不限于，有關(guān)于蝸牛游戲的意圖、信念或當(dāng)前預(yù)期的聲明。這些前瞻性聲明包括關(guān)于蝸牛游戲的業(yè)務(wù)、財(cái)務(wù)狀況、運(yùn)營(yíng)結(jié)果、流動(dòng)性、計(jì)劃和目標(biāo)的可能或假設(shè)的未來(lái)結(jié)果的信息。蝸牛游戲就以下事項(xiàng)發(fā)表的聲明屬于前瞻性聲明：增長(zhǎng)前景和戰(zhàn)略；推出新游戲和在商業(yè)上取得成功的游戲的附加功能內(nèi)容；預(yù)期未來(lái)增長(zhǎng)的重要驅(qū)動(dòng)因素；其能夠保留和增加其玩家群體、開(kāi)發(fā)新的游戲和改善現(xiàn)有游戲的能力；包括來(lái)自其他休閑游戲開(kāi)發(fā)商和發(fā)行商，以及大型和小型、上市和私營(yíng)互聯(lián)網(wǎng)公司在內(nèi)的多個(gè)行業(yè)的公司的競(jìng)爭(zhēng)；在控制人力成本的同時(shí)吸引和留住資質(zhì)管理團(tuán)隊(duì)及其他團(tuán)隊(duì)成員的能力；與第三方平臺(tái)的關(guān)系，如 Xbox Live 和 Game Pass、PlayStation Network、Steam、Epic Games Store、My Nintendo Store、Apple App Store、Google Play Store 和 Amazon Appstore；可尋址市場(chǎng)的規(guī)模、市場(chǎng)份額和市場(chǎng)趨勢(shì)；其能夠成功進(jìn)入新市場(chǎng)和管理國(guó)際擴(kuò)張的能力；保護(hù)和發(fā)展其品牌和知識(shí)產(chǎn)權(quán)組合；與捍衛(wèi)知識(shí)產(chǎn)權(quán)侵權(quán)和其他索賠相關(guān)的成本；未來(lái)業(yè)務(wù)發(fā)展、運(yùn)營(yíng)結(jié)果和財(cái)務(wù)狀況；涉及俄羅斯和烏克蘭以及以色列和哈馬斯的持續(xù)沖突對(duì)其業(yè)務(wù)和全球經(jīng)濟(jì)的影響；法院或其他政府機(jī)構(gòu)的裁決；股票回購(gòu)計(jì)劃，包括預(yù)期回購(gòu)的時(shí)間和方式；其進(jìn)行并成功整合戰(zhàn)略收購(gòu)的計(jì)劃；所有前述內(nèi)容的基本假設(shè)。
有關(guān)可能影響蝸牛游戲財(cái)務(wù)業(yè)績(jī)的風(fēng)險(xiǎn)、不確定性和其他因素的更多信息，請(qǐng)參閱蝸牛游戲不時(shí)向美國(guó)證券交易委員會(huì)（SEC）提交的文件、10-K 表年報(bào)和 10-Q 季報(bào)。您不應(yīng)該依賴這些前瞻性聲明，因?yàn)閷?shí)際結(jié)果和成果可能會(huì)因這些風(fēng)險(xiǎn)和不確定性而與前瞻性聲明中明示或暗示的結(jié)果和成果有實(shí)質(zhì)性差異。本新聞稿中的所有前瞻性表述均基于管理層的信念和假設(shè)以及蝸牛游戲目前掌握的信息，蝸牛游戲沒(méi)有義務(wù)更新所提供的前瞻性表述，以反映表述日期之后發(fā)生的事件或存在的情況。
關(guān)于蝸牛游戲
蝸牛是一家領(lǐng)先的全球獨(dú)立開(kāi)發(fā)商和發(fā)行商，為世界各地的消費(fèi)者提供互動(dòng)數(shù)字娛樂(lè)，擁有一流的優(yōu)質(zhì)游戲產(chǎn)品組合，專為在各種平臺(tái)（包括游戲機(jī)、個(gè)人電腦和移動(dòng)設(shè)備）上使用而設(shè)計(jì)。
更多信息，請(qǐng)聯(lián)系：investors@snail.com
蝸牛游戲及其附屬公司 |
|||
合并資產(chǎn)負(fù)債表 |
|||
December 31, 2023 |
December 31, 2022 |
||
ASSETS |
|||
Current Assets: |
|||
Cash and cash equivalents |
$ 15,198,123 |
$ 12,863,817 |
|
Restricted escrow deposit |
- |
1,003,804 |
|
Accounts receivable, net of allowances for credit losses of $523,500 and $19,929, respectively |
25,134,808 |
6,758,024 |
|
Accounts receivable - related party |
- |
11,344,184 |
|
Loan and interest receivable - related party |
103,753 |
101,753 |
|
Prepaid expenses - related party |
6,044,404 |
- |
|
Prepaid expenses and other current assets |
10,169,448 |
10,565,141 |
|
Total current assets |
56,650,536 |
42,636,723 |
|
Restricted cash and cash equivalents |
1,116,196 |
6,374,368 |
|
Accounts receivable - related party, net of current portion |
7,500,592 |
- |
|
Prepaid expenses - related party |
7,784,062 |
5,582,500 |
|
Property, plant and equipment, net |
4,682,066 |
5,114,799 |
|
Intangible assets, net - license - related parties |
- |
1,384,058 |
|
Intangible assets, net - other |
271,717 |
272,521 |
|
Deferred income taxes |
10,247,500 |
7,602,536 |
|
Other noncurrent assets |
164,170 |
198,668 |
|
Operating lease right-of-use assets, net |
2,440,690 |
3,606,398 |
|
Total assets |
$ 90,857,529 |
$ 72,772,571 |
|
LIABILITIES, NONCONTROLLING INTERESTS AND STOCKHOLDERS' EQUITY |
|||
Current Liabilities: |
|||
Accounts payable |
$ 12,102,929 |
$ 9,452,391 |
|
Accounts payable - related parties |
23,094,436 |
19,918,259 |
|
Accrued expenses and other liabilities |
2,887,193 |
1,474,088 |
|
Interest payable - related parties |
527,770 |
527,770 |
|
Revolving loan |
6,000,000 |
9,000,000 |
|
Notes payable |
2,333,333 |
5,416,666 |
|
Convertible notes, net of discount |
797,361 |
- |
|
Current portion of long-term promissory note |
2,811,923 |
86,524 |
|
Current portion of deferred revenue |
19,252,628 |
4,335,404 |
|
Current portion of operating lease liabilities |
1,505,034 |
1,371,227 |
|
Total current liabilities |
71,312,607 |
51,582,329 |
|
Accrued expenses |
254,731 |
457,024 |
|
Promissory note, net of current portion |
- |
3,221,963 |
|
Deferred revenue, net of current portion |
15,064,078 |
5,216,042 |
|
Operating lease liabilities, net of current portion |
1,425,494 |
2,930,529 |
|
Total liabilities |
88,056,910 |
63,407,887 |
|
Commitments and contingencies |
|||
Stockholders' Equity: |
|||
Class A common stock, $0.0001 par value, 500,000,000 shares authorized; 9,275,420 shares issued and 7,925,145 shares |
927 |
925 |
|
Class B common stock, $0.0001 par value, 100,000,000 shares authorized; 28,748,580 shares issued and outstanding as of |
2,875 |
2,875 |
|
Additional paid-in capital |
26,171,575 |
23,436,942 |
|
Accumulated other comprehensive loss |
(254,383) |
(307,200) |
|
Accumulated deficit |
(13,949,325) |
(4,863,250) |
|
11,971,669 |
18,270,292 |
||
Treasury stock at cost (1,350,275 and 1,197,649 shares as of December 31, 2023 and 2022, respectively) |
(3,671,806) |
(3,414,713) |
|
Total Snail, Inc. equity |
8,299,863 |
14,855,579 |
|
Noncontrolling interests |
(5,499,244) |
(5,490,895) |
|
Total stockholders' equity |
2,800,619 |
9,364,684 |
|
Total liabilities, noncontrolling interests and stockholders' equity |
$ 90,857,529 |
$ 72,772,571 |
|
蝸牛游戲及其附屬公司 |
|||||||
合并綜合損益表 |
|||||||
Three months ended December 31, |
For the Years Ended December 31, |
||||||
2023 |
2022 |
2023 |
2022 |
||||
(Unaudited) |
|||||||
Revenues, net |
$ 28,570,222 |
$ 15,311,857 |
$ 60,902,098 |
$ 74,444,141 |
|||
Cost of revenues |
18,646,615 |
12,724,280 |
48,306,403 |
53,121,676 |
|||
Gross profit |
9,923,607 |
2,587,577 |
12,595,695 |
21,322,465 |
|||
Operating expenses: |
|||||||
General and administrative |
3,900,962 |
6,369,288 |
15,816,088 |
18,713,958 |
|||
Research and development |
1,165,381 |
1,295,631 |
5,057,421 |
2,955,592 |
|||
Advertising and marketing |
1,094,146 |
145,365 |
1,582,464 |
714,492 |
|||
Depreciation and amortization |
86,222 |
130,262 |
432,306 |
565,906 |
|||
Loss (gain) on disposal of fixed assets |
427 |
(17,067) |
427 |
(17,067) |
|||
Total operating expenses |
6,247,138 |
7,923,479 |
22,888,706 |
22,932,881 |
|||
(Loss) income from operations |
3,676,469 |
(5,335,902) |
(10,293,011) |
(1,610,416) |
|||
Other income (expense): |
|||||||
Interest income |
31,443 |
155,124 |
129,854 |
200,913 |
|||
Interest income - related parties |
504 |
504 |
2,000 |
582,632 |
|||
Interest expense |
(570,523) |
(308,955) |
(1,531,719) |
(922,293) |
|||
Interest expense - related parties |
- |
- |
- |
(3,222) |
|||
Other income |
(55,351) |
(17,068) |
265,980 |
302,086 |
|||
Foreign currency transaction (loss) gain |
(42,574) |
(23,623) |
(68,180) |
(1,945) |
|||
Total other income (expense), net |
(636,501) |
(194,018) |
(1,202,065) |
158,171 |
|||
Income (loss) before (benefit from) provision for income taxes |
3,039,968 |
(5,529,920) |
(11,495,076) |
(1,452,245) |
|||
Provision for (benefit from) income taxes |
643,728 |
(3,249,728) |
(2,400,652) |
(2,446,423) |
|||
Net income (loss) |
2,396,240 |
(2,280,192) |
(9,094,424) |
994,178 |
|||
Net (loss) income attributable to non-controlling interests |
(1,128) |
(9,977) |
(8,349) |
46,371 |
|||
Net income (loss) attributable to Snail, Inc. and Snail Games USA Inc. |
$ 2,397,368 |
$ (2,270,215) |
$ (9,086,075) |
$ 947,807 |
|||
Comprehensive income statement: |
|||||||
Net (loss) income |
$ 2,396,240 |
$ (2,280,192) |
$ (9,094,424) |
$ 994,178 |
|||
Other comprehensive income (loss) related to currency translation adjustments, net of tax |
33,302 |
36,077 |
52,817 |
(40,643) |
|||
Total comprehensive income (loss) |
$ 2,429,542 |
$ (2,244,115) |
$ (9,041,607) |
$ 953,535 |
|||
Net income (loss) attributable to Class A common stockholders: |
|||||||
Basic |
$ 516,955 |
$ (530,686) |
$ (1,960,813) |
$ 228,482 |
|||
Diluted |
$ 516,955 |
$ (530,686) |
$ (1,960,813) |
$ 228,482 |
|||
Net income (loss) attributable to Class B common stockholders: |
|||||||
Basic |
$ 1,880,413 |
$ (1,739,529) |
$ (7,125,262) |
$ 719,325 |
|||
Diluted |
$ 1,880,413 |
$ (1,739,529) |
$ (7,125,262) |
$ 719,325 |
|||
Income (loss) per share attributable to Class A common stockholders: |
|||||||
Basic |
$ 0.07 |
$ (0.06) |
$ (0.25) |
$ 0.03 |
|||
Diluted |
$ 0.07 |
$ (0.06) |
$ (0.25) |
$ 0.03 |
|||
Income (loss) per share attributable to Class B common stockholders: |
|||||||
Basic |
$ 0.07 |
$ (0.06) |
$ (0.25) |
$ 0.03 |
|||
Diluted |
$ 0.07 |
$ (0.06) |
$ (0.25) |
$ 0.03 |
|||
Weighted-average shares used to compute income per share attributable to Class A |
|||||||
Basic |
7,914,564 |
8,770,468 |
7,911,369 |
9,131,512 |
|||
Diluted |
7,914,564 |
8,770,468 |
7,911,369 |
9,131,512 |
|||
Weighted-average shares used to compute income per share attributable to Class B |
|||||||
Basic |
28,748,580 |
28,748,580 |
28,748,580 |
28,748,580 |
|||
Diluted |
28,748,580 |
28,748,580 |
28,748,580 |
28,748,580 |
|||
蝸牛游戲及其附屬公司 |
|||
合并現(xiàn)金流量表 |
|||
For the years ended December 31, |
2023 |
2022 |
|
Cash flows from operating activities: |
|||
Net (loss) income |
$ (9,094,424) |
$ 994,178 |
|
Adjustments to reconcile net (loss) income to net cash used in operating activities: |
|||
Amortization - intangible assets - license |
- |
250,000 |
|
Amortization - intangible assets - license, related parties |
1,384,058 |
7,403,918 |
|
Amortization - intangible assets - other |
804 |
3,751 |
|
Amortization - loan origination fees and debt discounts |
124,595 |
26,514 |
|
Accretion - convertible notes |
306,664 |
- |
|
Depreciation and amortization - property and equipment |
432,306 |
565,906 |
|
Stock-based compensation expense |
848,035 |
223,250 |
|
Gain on lease termination |
- |
(122,533) |
|
Gain on paycheck protection program and economic injury disaster loan forgiveness |
- |
(174,436) |
|
Loss (gain) on disposal of fixed assets |
427 |
(17,067) |
|
Interest income from shareholder loan |
- |
(580,878) |
|
Interest income from restricted escrow deposit |
- |
(3,804) |
|
Credit losses |
581,498 |
- |
|
Deferred taxes, net |
(2,644,964) |
588,478 |
|
Changes in assets and liabilities: |
|||
Accounts receivable |
(18,939,465) |
5,486,716 |
|
Accounts receivable - related party |
3,824,775 |
(2,908,361) |
|
Prepaid expenses - related party |
(8,245,966) |
(2,437,500) |
|
Prepaid expenses and other current assets |
501,104 |
(1,875,919) |
|
Other noncurrent assets |
- |
(26,052) |
|
Accounts payable |
2,992,856 |
4,976,192 |
|
Accounts payable - related parties |
3,176,177 |
(3,815,313) |
|
Accrued expenses and other liabilities |
659,647 |
(1,039,927) |
|
Interest receivable - related party |
(2,000) |
- |
|
Interest payable - related parties |
- |
986 |
|
Lease liabilities |
(205,520) |
(145,949) |
|
Deferred revenue |
24,765,261 |
(10,729,488) |
|
Net cash provided by (used in) operating activities |
465,868 |
(3,357,338) |
|
Cash flows from investing activities: |
|||
Repayment on loan provided by related party |
- |
(300,000) |
|
Purchases of property and equipment |
- |
(5,256) |
|
Proceeds from sale of property and equipment |
- |
19,500 |
|
Repayment on Pound Sand note |
- |
1,496,063 |
|
Net cash provided by investing activities |
- |
1,210,307 |
|
Cash flows from financing activities: |
|||
Repayments on promissory note |
(79,897) |
(70,961) |
|
Repayments on notes payable |
(6,500,000) |
(4,166,667) |
|
Repayments on revolving loan |
(3,000,000) |
- |
|
Borrowings on notes payable |
3,000,000 |
- |
|
Borrowings on short-term note |
- |
10,000,000 |
|
Proceeds from issuance of convertible notes |
847,500 |
- |
|
Refund of dividend withholding tax overpayment |
1,886,600 |
- |
|
Payments on paycheck protection program and economic injury disaster loan |
- |
(90,198) |
|
Refund of payments on paycheck protection program and economic injury disaster loan |
- |
48,305 |
|
Cash dividend declared and paid |
- |
(8,200,000) |
|
Purchase of treasury stock |
(257,093) |
(3,414,713) |
|
Proceeds from initial public offering, net of offering costs |
- |
11,791,705 |
|
Warrants issued to underwriters |
- |
193,927 |
|
Payments of capitalized offering costs |
- |
(1,247,567) |
|
Payments of offering costs in accounts payable |
(342,318) |
- |
|
Release of restricted escrow deposit |
1,003,804 |
- |
|
Net cash (used in) provided by financing activities |
(3,441,404) |
4,843,831 |
|
Effect of currency translation on cash and cash equivalents |
51,670 |
(12,730) |
|
Net (decrease) increase in cash and cash equivalents, and restricted cash and cash equivalents |
(2,923,866) |
2,684,070 |
|
Cash and cash equivalents, and restricted cash and cash equivalents - beginning of period |
19,238,185 |
16,554,115 |
|
Cash and cash equivalents, and restricted cash and cash equivalents – end of period |
$ 16,314,319 |
$ 19,238,185 |
|
Supplemental disclosures of cash flow information |
|||
Cash paid during the period for: |
|||
Interest |
$ 934,523 |
$ 788,063 |
|
Income taxes |
$ 248,388 |
$ 888,303 |
|
Noncash transactions during the period for: |
|||
Loan and interest payable - related parties |
$ - |
$ 103,890 |
|
Loan and interest receivable - related parties |
$ - |
$ (103,890) |
|
Loan and interest from shareholder |
$ - |
$ 94,934,400 |
|
Dividend distribution |
$ - |
$ (94,934,400) |
|
Noncash finance activity during the period for: |
|||
Issuance of warrants in connection with equity line of credit |
$ (105,411) |
$ - |
|
Gain on paycheck protection program and economic injury disaster loan forgiveness |
$ - |
$ (174,436) |
|
Snail Games USA Common Stock transferred due to reorganization |
$ - |
$ (5,000) |
|
Snail, Inc. Common Stock and additional paid-in capital transferred due to reorganization |
$ - |
$ 5,000 |
|
Offering costs included in accounts payable |
$ - |
$ 605,295 |
|
Funding of the escrow deposit |
$ - |
$ (1,000,000) |
|
