加州卡爾弗城2024年11月14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2024年9月30日的第三季度的財(cái)務(wù)業(yè)績(jī)。
蝸牛游戲聯(lián)席首席執(zhí)行官Tony Tian評(píng)論道："自四月份接任蝸牛游戲聯(lián)席首席執(zhí)行官以來(lái)，我們?cè)诰礃I(yè)團(tuán)隊(duì)的卓越才能和遠(yuǎn)見(jiàn)卓識(shí)的指引下，持續(xù)推動(dòng)公司業(yè)務(wù)的轉(zhuǎn)型。蝸牛游戲致力于推動(dòng)互動(dòng)娛樂(lè)的發(fā)展，我們對(duì)本季度旗下游戲及DLC所取得的成功感到非常高興，包括Aberration（畸變）、Bobs Tall Tales（鮑勃的奇談）的第二部分以及方舟系列。我們將一如既往地專注于提供超出預(yù)期的創(chuàng)新游戲體驗(yàn)，忠實(shí)于塑造我們公司非凡歷程的創(chuàng)造性精神。"
2024年第三季度業(yè)務(wù)亮點(diǎn)：
2024年第三季度財(cái)務(wù)亮點(diǎn)：
凈收入截至2024年9月30日三個(gè)月為2,250萬(wàn)美元，而同比截至2023年9月30日三個(gè)月為900萬(wàn)美元，增幅為1,350萬(wàn)美元或150.9%。凈收入的增加主要是由于畸變和鮑勃的奇談第二部分的發(fā)布所帶來(lái)的820萬(wàn)美元收入，方舟系列游戲的總銷售額增加了590萬(wàn)美元，Bellwright（頌鐘長(zhǎng)鳴）的游戲銷售額增加了100萬(wàn)美元，Genesis II（創(chuàng)世紀(jì)2）和Myth of Empires（帝國(guó)神話）在一些平臺(tái)上的發(fā)布所產(chǎn)生的收入120萬(wàn)美元，部分被方舟手游銷售額減少的30萬(wàn)美元，以及與方舟：生存飛升和鮑勃的奇談DLC尚未發(fā)布所產(chǎn)生的遞延收入增加的260萬(wàn)美元所抵消。
凈利潤(rùn)截至2024年9月30日三個(gè)月為20萬(wàn)美元，而同比截至2023年9月30日三個(gè)月的凈虧損為440萬(wàn)美元。凈利潤(rùn)的增加是由于發(fā)布新游戲帶來(lái)的收入的增長(zhǎng)。
訂購(gòu)額（Bookings）截至2024年9月30日三個(gè)月為1,610萬(wàn)美元，而同比截至2023年9月30日三個(gè)月為1,050萬(wàn)美元，增幅為560萬(wàn)美元，或53.6%。訂購(gòu)額的增加是由于方舟：生存飛升在2023年第四季度的強(qiáng)勢(shì)發(fā)布，以及在2024年上半年推出的鮑勃的奇談擴(kuò)展包和新游頌鐘長(zhǎng)鳴，以及2024年9月及4月分別發(fā)布的方舟：生存飛升的畸變以及焦土DLC擴(kuò)展包。
息稅折舊攤銷前利潤(rùn)（"EBITDA"）截至2024年9月30日三個(gè)月為50萬(wàn)美元，而同比截至2023年9月30日三個(gè)月的虧損為510萬(wàn)美元，增幅為560萬(wàn)美元，或109.7%。增加的主要原因是凈利潤(rùn)增加了460萬(wàn)美元，以及所得稅收益減少了140萬(wàn)美元，部分被利息支出減少的30萬(wàn)美元所抵消。
截至2024年9月30日，未受限制的現(xiàn)金為1,060萬(wàn)美元，公司已償還截至2023年12yue 31日尚未償還的300萬(wàn)美元循環(huán)貸款，230萬(wàn)美元應(yīng)付票據(jù)和80萬(wàn)美元可轉(zhuǎn)換票據(jù)。
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，息稅折舊攤銷前利潤(rùn)(EBITDA)作為非GAAP指標(biāo)，而訂購(gòu)額（Bookings）作為運(yùn)營(yíng)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）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)。
截至9月30日的三個(gè)月, |
截至9月30日的九個(gè)月, |
|||||||||||||||
2024 |
2023 |
2024 |
2023 |
|||||||||||||
(單位：百萬(wàn)美元) |
(單位：百萬(wàn)美元) |
|||||||||||||||
總收入 |
$ |
22.5 |
$ |
9.0 |
$ |
58.3 |
$ |
32.3 |
||||||||
遞延收入變化 |
(6.4) |
1.5 |
0.4 |
0.8 |
||||||||||||
訂購(gòu)額 |
$ |
16.1 |
$ |
10.5 |
$ |
58.7 |
$ |
33.1 |
||||||||
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：
截至9月30日的三個(gè)月, |
截至9月30日的九個(gè)月, |
|||||||||||||||
2024 |
2023 |
2024 |
2023 |
|||||||||||||
(單位：百萬(wàn)美元) |
(單位：百萬(wàn)美元) |
|||||||||||||||
凈利潤(rùn)（虧損） |
$ |
0.2 |
$ |
(4.4) |
$ |
0.7 |
$ |
(11.5) |
||||||||
利息收入和關(guān)聯(lián)方利息收入 |
(0.1) |
- |
(0.2) |
(0.1) |
||||||||||||
利息費(fèi)用和關(guān)聯(lián)方利息費(fèi)用 |
0.1 |
0.4 |
0.6 |
1.0 |
||||||||||||
所得稅撥備（收益） |
0.2 |
(1.2) |
0.3 |
(3.0) |
||||||||||||
折舊及攤銷費(fèi)用 |
0.1 |
0.1 |
0.2 |
0.3 |
||||||||||||
EBITDA |
$ |
0.5 |
$ |
(5.1) |
$ |
1.6 |
$ |
(13.3) |
||||||||
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2024年第三季度財(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)。
聯(lián)系方式
公司聯(lián)系方式：
investors@snail.com
蝸牛游戲及其附屬公司 |
|||
合并資產(chǎn)負(fù)債表 |
|||
（未審計(jì)） |
|||
September 30, 2024 |
December 31, 2023 |
||
ASSETS |
|||
Current Assets: |
|||
Cash and cash equivalents |
$ 10,566,294 |
$ 15,198,123 |
|
Accounts receivable, net of allowances for credit losses of $523,500 as of September 30, 2024 and December 31, 2023 |
6,804,338 |
25,134,808 |
|
Accounts receivable - related party |
3,035,555 |
- |
|
Loan and interest receivable - related party |
105,255 |
103,753 |
|
Prepaid expenses - related party |
4,952,002 |
6,044,404 |
|
Prepaid expenses and other current assets |
1,336,744 |
639,693 |
|
Prepaid taxes |
9,713,430 |
9,529,755 |
|
Total current assets |
36,513,618 |
56,650,536 |
|
Restricted cash and cash equivalents |
1,119,565 |
1,116,196 |
|
Accounts receivable - related party, net of current portion |
3,000,592 |
7,500,592 |
|
Prepaid expenses - related party |
8,994,630 |
7,784,062 |
|
Property, plant and equipment, net |
4,446,772 |
4,682,066 |
|
Intangible assets, net - other |
271,115 |
271,717 |
|
Deferred income taxes |
10,260,441 |
10,247,500 |
|
Other noncurrent assets |
571,711 |
164,170 |
|
Operating lease right-of-use assets, net |
1,600,520 |
2,440,690 |
|
Total assets |
$ 66,778,964 |
$ 90,857,529 |
|
LIABILITIES, NONCONTROLLING INTERESTS AND STOCKHOLDERS' EQUITY |
|||
Current Liabilities: |
|||
Accounts payable |
$ 3,948,039 |
$ 12,102,929 |
|
Accounts payable - related parties |
15,689,072 |
23,094,436 |
|
Accrued expenses and other liabilities |
2,734,535 |
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 |
2,743,378 |
2,811,923 |
|
Current portion of deferred revenue |
13,349,641 |
19,252,628 |
|
Current portion of operating lease liabilities |
1,629,835 |
1,505,034 |
|
Total current liabilities |
43,622,270 |
71,312,607 |
|
Accrued expenses |
254,731 |
254,731 |
|
Deferred revenue, net of current portion |
19,940,995 |
15,064,078 |
|
Operating lease liabilities, net of current portion |
266,397 |
1,425,494 |
|
Total liabilities |
64,084,393 |
88,056,910 |
|
Commitments and contingencies |
|||
Stockholders' Equity: |
|||
Class A common stock, $0.0001 par value, 500,000,000 shares authorized; 9,379,488 shares issued and 8,029,213 shares outstanding as of September 30, 2024, and 9,275,420 shares issued and 7,925,145 shares outstanding as of December 31, 2023 |
937 |
927 |
|
Class B common stock, $0.0001 par value, 100,000,000 shares authorized; 28,748,580 shares issued and outstanding as of September 30, 2024 and December 31, 2023 |
2,875 |
2,875 |
|
Additional paid-in capital |
25,334,672 |
26,171,575 |
|
Accumulated other comprehensive loss |
(230,857) |
(254,383) |
|
Accumulated deficit |
(13,237,356) |
(13,949,325) |
|
Treasury stock at cost (1,350,275 as of September 30, 2024 and December 31, 2023) |
(3,671,806) |
(3,671,806) |
|
Total Snail, Inc. equity |
8,198,465 |
8,299,863 |
|
Noncontrolling interests |
(5,503,894) |
(5,499,244) |
|
Total stockholders' equity |
2,694,571 |
2,800,619 |
|
Total liabilities, noncontrolling interests and stockholders' equity |
$ 66,778,964 |
$ 90,857,529 |
|
蝸牛游戲及其附屬公司 |
|||||||
合并綜合損益表 |
|||||||
（未審計(jì)） |
|||||||
Three months ended September 30, |
Nine months ended September 30, |
||||||
2024 |
2023 |
2024 |
2023 |
||||
Revenues, net |
$ 22,530,372 |
$ 8,981,135 |
$ 58,252,751 |
$ 32,331,876 |
|||
Cost of revenues |
13,823,944 |
9,463,086 |
39,369,816 |
29,659,788 |
|||
Gross profit (loss) |
8,706,428 |
(481,951) |
18,882,935 |
2,672,088 |
|||
Operating expenses: |
|||||||
General and administrative |
3,845,301 |
3,452,141 |
8,923,225 |
11,915,126 |
|||
Research and development |
3,885,926 |
1,317,400 |
7,523,329 |
3,892,039 |
|||
Advertising and marketing |
495,938 |
215,477 |
1,331,163 |
488,318 |
|||
Depreciation and amortization |
72,402 |
112,914 |
235,294 |
346,084 |
|||
Total operating expenses |
8,299,567 |
5,097,932 |
18,013,011 |
16,641,567 |
|||
Income (loss) from operations |
406,861 |
(5,579,883) |
869,924 |
(13,969,479) |
|||
Other income (expense): |
|||||||
Interest income |
60,675 |
47,147 |
225,227 |
98,411 |
|||
Interest income - related parties |
504 |
504 |
1,501 |
1,496 |
|||
Interest expense |
(95,997) |
(370,376) |
(634,262) |
(961,196) |
|||
Other income |
74,891 |
313,156 |
546,484 |
321,331 |
|||
Foreign currency transaction loss |
(55,835) |
(1,394) |
(32,055) |
(25,606) |
|||
Total other income (expense), net |
(15,762) |
(10,963) |
106,895 |
(565,564) |
|||
Income (loss) before provision for (benefit from) income taxes |
391,099 |
(5,590,846) |
976,819 |
(14,535,043) |
|||
Provision for (benefit from) income taxes |
157,938 |
(1,156,675) |
269,501 |
(3,044,380) |
|||
Net income (loss) |
233,161 |
(4,434,171) |
707,318 |
(11,490,663) |
|||
Net loss attributable to non-controlling interests |
(1,986) |
(1,539) |
(4,650) |
(7,222) |
|||
Net income (loss) attributable to Snail, Inc. |
$ 235,147 |
$ (4,432,632) |
$ 711,968 |
$ (11,483,441) |
|||
Comprehensive income (loss) statement: |
|||||||
Net income (loss) |
$ 233,161 |
$ (4,434,171) |
$ 707,318 |
$ (11,490,663) |
|||
Other comprehensive income (loss) related to currency translation adjustments, net of tax |
52,116 |
(1,512) |
23,526 |
19,515 |
|||
Total comprehensive income (loss) |
$ 285,277 |
$ (4,435,683) |
$ 730,844 |
$ (11,471,148) |
|||
Net income (loss) attributable to Class A common stockholders: |
|||||||
Basic |
$ 51,312 |
$ (955,763) |
$ 154,972 |
$ (2,477,768) |
|||
Diluted |
$ 51,312 |
$ (955,763) |
$ 127,440 |
$ (2,477,768) |
|||
Net income (loss) attributable to Class B common stockholders: |
|||||||
Basic |
$ 183,835 |
$ (3,476,869) |
$ 556,996 |
$ (9,005,673) |
|||
Diluted |
$ 183,835 |
$ (3,476,869) |
$ 458,041 |
$ (9,005,673) |
|||
Net income (loss) per share attributable to Class A and B common stockholders: |
|||||||
Basic |
$ 0.01 |
$ (0.12) |
$ 0.02 |
$ (0.31) |
|||
Diluted |
$ 0.01 |
$ (0.12) |
$ 0.02 |
$ (0.31) |
|||
Weighted-average shares used to compute income (loss) per share attributable to Class A common stockholders: |
|||||||
Basic |
8,024,369 |
7,901,145 |
7,998,686 |
7,909,715 |
|||
Diluted |
8,024,369 |
7,901,145 |
8,148,133 |
7,909,715 |
|||
Weighted-average shares used to compute income (loss) per share attributable to Class B common stockholders: |
|||||||
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 |
|||
（未審計(jì)） |
|||
For the nine months ended September 30, |
2024 |
2023 |
|
Cash flows from operating activities: |
|||
Net income (loss) |
$ 707,318 |
$ (11,490,663) |
|
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
|||
Amortization - intangible assets - license, related parties |
- |
1,253,623 |
|
Amortization - intangible assets - other |
603 |
603 |
|
Amortization - loan origination fees and debt discounts |
60,242 |
142,656 |
|
Accretion - convertible notes |
222,628 |
- |
|
Depreciation and amortization - property and equipment |
235,294 |
346,084 |
|
Stock-based compensation expense (income) |
(896,893) |
622,007 |
|
Interest income from restricted escrow deposit |
- |
(33,935) |
|
Deferred taxes, net |
(12,884) |
(3,058,738) |
|
Changes in assets and liabilities: |
|||
Accounts receivable |
18,330,470 |
2,674,655 |
|
Accounts receivable - related party |
1,464,445 |
(255,045) |
|
Prepaid expenses - related party |
(118,167) |
(2,500,000) |
|
Prepaid expenses and other current assets |
(697,051) |
156,450 |
|
Prepaid taxes |
(183,675) |
- |
|
Other noncurrent assets |
(407,441) |
(2,903) |
|
Accounts payable |
(7,891,975) |
846,553 |
|
Accounts payable - related parties |
(7,405,363) |
(248,391) |
|
Accrued expenses and other liabilities |
(152,658) |
134,131 |
|
Interest receivable - related party |
(1,501) |
(1,496) |
|
Lease liabilities |
(194,125) |
(148,233) |
|
Deferred revenue |
(1,026,070) |
767,883 |
|
Net cash provided by (used in) operating activities |
2,033,197 |
(10,794,759) |
|
Cash flows from financing activities: |
|||
Repayments on promissory note |
(68,545) |
(59,589) |
|
Repayments on notes payable |
(2,333,333) |
(3,750,000) |
|
Repayments on convertible notes |
(1,020,000) |
- |
|
Repayments on revolving loan |
(3,000,000) |
(3,000,000) |
|
Borrowings on notes payable |
- |
2,275,000 |
|
Proceeds from issuance of convertible notes |
- |
847,500 |
|
Refund of dividend withholding tax overpayment |
- |
1,886,600 |
|
Purchase of treasury stock |
- |
(257,093) |
|
Payments of capitalized offering costs |
- |
(342,318) |
|
Payments of offering costs in accounts payable |
(262,914) |
- |
|
Net cash used in financing activities |
(6,684,792) |
(2,399,900) |
|
Effect of currency translation on cash and cash equivalents |
23,135 |
20,390 |
|
Net decrease in cash and cash equivalents, and restricted cash and cash equivalents |
(4,628,460) |
(13,174,269) |
|
Cash and cash equivalents, and restricted cash and cash equivalents - beginning of period |
16,314,319 |
19,238,185 |
|
Cash and cash equivalents, and restricted cash and cash equivalents – end of period |
$ 11,685,859 |
$ 6,063,916 |
|
Supplemental disclosures of cash flow information |
|||
Cash paid during the period for: |
|||
Interest |
$ 421,986 |
$ 725,885 |
|
Income taxes |
$ 401,671 |
$ 504,581 |
|
Noncash transactions during the period for: |
|||
Issuance of warrants in connection with equity line of credit |
$ - |
$ (105,411) |
|
Debt converted to equity |
$ (60,000) |
$ - |
|
Right-of-use assets obtained in exchange for a lease liability |
$ (85,588) |
$ - |
|
