Snail Inc
For the period ended Dec 31, 2023. Filed Apr 1, 2024.
View on SEC.govAbout this filing
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FY2023 · Filed Apr 1, 2024
SNAL$2.07+6.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| 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, net of current portion | 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 outstanding as of December 31, 2023, and 9,251,420 shares issued and 8,053,771 shares outstanding as of December 31, 2022 | 927 | 925 |
| Class B common stock, $0.0001 par value, 100,000,000 shares authorized; 28,748,580 shares issued and outstanding as of December 31, 2023 and 2022 | 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) |
| Stockholders Equity Excluding Treasury Stock | 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 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.