Abacus Life Inc
For the period ended Dec 31, 2023. Filed Mar 21, 2024.
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FY2023 · Filed Mar 21, 2024
ABX$9.13+1.6%Stored close · as of Nov 10, 2026
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Consolidated Balance Sheets
ABACUS LIFE, INC.
CONSOLIDATED BALANCE SHEETS
AS OF December 31, (CONT.)
| 2023 | 2022 | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $25,588,668 | $30,052,823 |
| Equity securities, at fair value | 2,252,891 | — |
| Accounts receivable | 2,149,111 | 10,448 |
| Accounts receivable, related party | 79,509 | 198,364 |
| Due from affiliates | 1,007,528 | 2,904,646 |
| Prepaid expenses and other current assets | 699,127 | 116,646 |
| Total current assets | 31,776,834 | 33,282,927 |
| Property and equipment, net | 400,720 | 18,617 |
| Intangible assets, net | 29,623,130 | — |
| Goodwill | 140,287,000 | — |
| Operating right-of-use assets | 1,893,659 | 77,011 |
| Life settlement policies, at cost | 1,697,178 | 8,716,111 |
| Life settlement policies, at fair value | 122,296,559 | 13,809,352 |
| Available-for-sale securities, at fair value | 1,105,935 | 1,000,000 |
| Other investments, at cost | 1,650,000 | 1,300,000 |
| Other assets | 998,945 | — |
| Equity securities, at fair value | 96,107 | 890,829 |
| TOTAL ASSETS | $331,826,067 | $59,094,847 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| CURRENT LIABILITIES: | ||
| Current portion of long-term debt | $13,029,632 | $— |
| Accrued expenses | 4,354,225 | — |
| Accounts payable | — | 40,014 |
| Operating lease liabilities | 118,058 | 48,127 |
| Due to affiliates | 5,236 | 263,785 |
| Due to former members | 1,159,712 | — |
| Contract liabilities, deposits on pending settlements | 507,000 | — |
| Accrued transaction costs | — | 908,256 |
| Other current liabilities | 3,400,734 | 42,227 |
ABACUS LIFE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
FOR THE YEARS ENDED December 31,
| 2023 | 2022 | |
|---|---|---|
| Income taxes payable | 751,734 | — |
| Total current liabilities | 23,326,331 | 1,302,409 |
| Long-term debt, related party | 37,653,869 | — |
| Long-term debt | 89,137,013 | 28,249,653 |
| Operating lease liabilities | 1,796,727 | 29,268 |
| Deferred tax liability | 9,199,091 | 1,363,820 |
| Warrant liability | 6,642,960 | — |
| TOTAL LIABILITIES | 167,755,991 | 30,945,150 |
| COMMITMENTS AND CONTINGENCIES (Note 11) | ||
| STOCKHOLDERS' EQUITY | ||
| Preferred stock, $0.0001 par value; 1,000,000 authorized shares authorized; none issued or outstanding | — | — |
| Class A common stock, $0.0001 par value; 200,000,000 authorized shares; 63,388,823 and 50,369,350 shares issued, respectively | 6,339 | 5,037 |
| Treasury stock - at cost; 146,650 and — shares, respectively | (1,283,062) | — |
| Additional paid-in capital | 199,826,278 | 704,963 |
| (Accumulated deficit) retained earnings | (34,726,135) | 25,487,323 |
| Accumulated other comprehensive income | 108,373 | 1,052,836 |
| Non-controlling interest | 138,283 | 899,538 |
| Total stockholders' equity | 164,070,076 | 28,149,697 |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $331,826,067 | $59,094,847 |
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