Snail, Inc.
For the period ended Dec 31, 2024. Filed Mar 26, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 26, 2025
SNAL$2.15+3.9%Stored close · as of Nov 10, 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, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS | ||
| Current Assets: | ||
| Cash and cash equivalents | $7,303,944 | $15,198,123 |
| Accounts receivable, net of allowances for credit losses of $523,500 as of December 31, 2024 and 2023 | 9,814,822 | 25,134,808 |
| Accounts receivable - related party | 2,336,274 | - |
| Loan and interest receivable - related party | 105,759 | 103,753 |
| Prepaid expenses - related party | 2,521,291 | 6,044,404 |
| Prepaid expenses and other current assets | 1,846,024 | 639,693 |
| Prepaid taxes | 7,318,424 | 9,529,755 |
| Total current assets | 31,246,538 | 56,650,536 |
| Restricted cash and cash equivalents | 935,000 | 1,116,196 |
| Accounts receivable – related party, net of current portion | 1,500,592 | 7,500,592 |
| Prepaid expenses - related party, net of current portion | 9,378,594 | 7,784,062 |
| Property and equipment, net | 4,378,352 | 4,682,066 |
| Intangible assets, net | 973,914 | 271,717 |
| Deferred income taxes | 10,817,112 | 10,247,500 |
| Other noncurrent assets | 1,683,932 | 164,170 |
| Operating lease right-of-use assets, net | 1,279,330 | 2,440,690 |
| Total assets | $62,193,364 | $90,857,529 |
| LIABILITIES, NONCONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY | ||
| Current Liabilities: | ||
| Accounts payable | $4,656,367 | $12,102,929 |
| Accounts payable - related parties | 15,383,171 | 23,094,436 |
| Accrued expenses and other liabilities | 4,499,280 | 2,887,193 |
| Interest payable - related parties | 527,770 | 527,770 |
| Revolving loan | 3,000,000 | 6,000,000 |
| Notes payable | - | 2,333,333 |
| Convertible notes, net of discount | - | 797,361 |
| Current portion of long-term promissory note | 2,722,548 | 2,811,923 |
| Current portion of deferred revenue | 3,947,559 | 19,252,628 |
| Current portion of operating lease liabilities | 1,444,385 | 1,505,034 |
| Total current liabilities | 36,181,080 | 71,312,607 |
| Accrued expenses | 265,251 | 254,731 |
| Deferred revenue, net of current portion | 21,519,888 | 15,064,078 |
| Operating lease liabilities, net of current portion | 57,983 | 1,425,494 |
| Total liabilities | 58,024,202 | 88,056,910 |
| Commitments and contingencies | - | - |
| Stockholders’ Equity: | ||
| Class A common stock, $0.0001 par value, 500,000,000 shares authorized; 9,626,070 shares issued and 8,275,795 shares outstanding as of December 31, 2024, and 9,275,420 shares issued and 7,925,145 shares outstanding as of December 31, 2023 | 962 | 927 |
| Class B common stock, $0.0001 par value, 100,000,000 shares authorized; 28,748,580 shares issued and outstanding as of December 31, 2024 and December 31, 2023 | 2,875 | 2,875 |
| Additional paid-in capital | 25,738,082 | 26,171,575 |
| Accumulated other comprehensive loss | (279,457) | (254,383) |
| Accumulated deficit | (12,117,385) | (13,949,325) |
| Treasury stock at cost (1,350,275 shares as of December 31, 2024 and 2023) | (3,671,806) | (3,671,806) |
| Total Snail, Inc. equity | 9,673,271 | 8,299,863 |
| Noncontrolling interests | (5,504,109) | (5,499,244) |
| Total stockholders’ equity | 4,169,162 | 2,800,619 |
| Total liabilities, noncontrolling interests and stockholders’ equity | $62,193,364 | $90,857,529 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.