蝸牛游戲宣布2024年第二季度財(cái)報(bào)業(yè)績
加州卡爾弗城2024年8月14日 /美通社/ -- Snail, Inc. (納斯達(dá)克股票代碼: SNAL) (以下簡稱"蝸牛"或"公司"）是一家領(lǐng)先的全球獨(dú)立開發(fā)商和發(fā)行商，專注于互動數(shù)字娛樂，今日宣布截至2024年6月30日的第二季度的財(cái)務(wù)業(yè)績。
蝸牛游戲聯(lián)席首席執(zhí)行官Tony Tian評論道："我非常榮幸能夠與出色的團(tuán)隊(duì)一起領(lǐng)導(dǎo)蝸牛游戲，繼續(xù)發(fā)揚(yáng)公司卓越的創(chuàng)新和創(chuàng)造力傳統(tǒng)。我們致力于為玩家提供卓越的游戲體驗(yàn)，正如方舟：生存飛升的成功推出所展示的那樣，將繼續(xù)推動蝸牛游戲取得未來的成功和勝利。展望未來，我們很高興能夠擴(kuò)展我們的高級游戲模組的覆蓋范圍，并推出新的內(nèi)容來取悅我們在全球范圍內(nèi)不斷增長壯大的玩家群體。"
2024年第二季度業(yè)務(wù)亮點(diǎn)：
- 方舟：生存飛升(ARK: Survival Ascended)和方舟：生存進(jìn)化（ARK: Survival Evolved）
- 2023年10月25日，公司利用虛幻引擎 5 的絕佳畫質(zhì)推出了方舟系列旗艦作品的重制版，并引入了改變游戲的跨平臺模組系統(tǒng)，開啟了創(chuàng)造力的新時(shí)代。
- 截至2024年6月30日的三個(gè)月和六個(gè)月期間，方舟：生存進(jìn)化與方舟：生存飛升在Steam和Epic平臺上的日均活躍用戶數(shù)（DAUs）分別為218,241和213,690，而在2023年同期分別為240,522和258,235。
- 截至2024年6月30日，根據(jù)Steam平臺數(shù)據(jù)，我們的方舟系列游戲時(shí)長已達(dá)37億小時(shí)，每位用戶平均游戲時(shí)長為161小時(shí)，其中21.1%的玩家游戲時(shí)長超過100小時(shí)。
- 自游戲推出以來，方舟：生存飛升已售出約250 萬套，且日均活躍用戶達(dá) 108,515，峰值為 307,875 。
- 方舟：生存進(jìn)化在2024年第二季度的日均活躍用戶數(shù)為131,927，銷量約50萬套。
- 2024年第二季度，公司成功推出了中世紀(jì)生存游戲Bellwright（頌鐘長鳴）、方舟：生存飛升的Bob's Tall Tales （鮑勃的奇談）DLC擴(kuò)展包以及方舟：生存飛升的POWER RANGERS （超凡戰(zhàn)隊(duì)）高級模組。此外，完整版DLC擴(kuò)展包Scorched Earth（焦土）也面向所有方舟：生存飛升的玩家開放。
凈收入截至2024年6月30日三個(gè)月為2,160萬美元，而同比截至2023年6月30日三個(gè)月為990萬美元。凈收入的增加主要是由于方舟系列游戲的總銷售額增加了1000萬美元，而頌鐘長鳴的發(fā)布使公司其他游戲銷售額增加了390萬美元，部分被方舟手游銷售額減少的30萬美元，與方舟系列相關(guān)的遞延收入增加的190萬美元所抵消。
凈利潤截至2024年6月30日三個(gè)月為230萬美元，而同比截至2023年6月30日三個(gè)月的凈虧損為410萬美元。凈利潤的增加是由于凈收入增加1,170萬美元，一般和行政費(fèi)用減少120萬美元，以及公司其他收入（費(fèi)用）增加50萬美元，部分被研發(fā)費(fèi)用增加的70萬美元、廣告和營銷費(fèi)用增加的50萬美元、收入成本增加的420萬美元以及所得稅減少170萬美元所抵消。
訂購額（Bookings）截至2024年6月30日三個(gè)月為2,290萬美元，而同比截至2023年6月30日三個(gè)月為930萬美元。訂購額的增加是由于方舟：生存飛升在2023年第四季度的強(qiáng)勢發(fā)布，以及在2024年4月推出的鮑勃的奇談擴(kuò)展包和新游頌鐘長鳴，以及方舟：生存飛升的焦土DLC擴(kuò)展包。除上述游戲的銷售額增加外，公司在截至2024年6月30日的三個(gè)月因尚未發(fā)布的方舟：生存飛升的DLC擴(kuò)展包和部分的鮑勃的奇談遞延了約710萬美元的收入；部分被焦土擴(kuò)展包的發(fā)布所確認(rèn)的560萬美元收入所抵消。
息稅折舊攤銷前利潤（"EBITDA"）截至2024年6月30日三個(gè)月為310萬美元，而同比截至2023年6月30日三個(gè)月的虧損為480萬美元。增加的主要原因是凈利潤增加了640萬美元，以及所得稅收益減少了170萬美元。
截至2024年6月30日，未受限制的現(xiàn)金為1,550萬美元。
非GAAP財(cái)務(wù)指標(biāo)的使用
除了按照美國公認(rèn)會計(jì)原則（GAAP）確定的財(cái)務(wù)結(jié)果外，蝸牛游戲認(rèn)為，訂購額（Bookings）和息稅折舊攤銷前利潤(EBITDA)作為非GAAP指標(biāo)，有助于評估其經(jīng)營業(yè)績。訂購額和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（虧損）或收入這兩個(gè)運(yùn)營業(yè)績指標(biāo)的替代指標(biāo)，也不應(yīng)被視為衡量運(yùn)營活動提供的現(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)訂購額和EBITDA，是為管理層用于評估財(cái)務(wù)業(yè)績的關(guān)鍵運(yùn)營指標(biāo)。訂購額調(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)營業(yè)績的項(xiàng)目，例如某些非現(xiàn)金項(xiàng)目、不尋?；蚍墙?jīng)常性項(xiàng)目，或者期間內(nèi)發(fā)生變化但對其運(yùn)營業(yè)績沒有實(shí)質(zhì)性關(guān)聯(lián)的項(xiàng)目。管理層認(rèn)為，訂購額和EBITDA有助于投資者和分析師了解蝸牛游戲的關(guān)鍵經(jīng)營業(yè)績趨勢，而其他指標(biāo)可能因長期戰(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。訂購額等于收入扣除遞延的影響。以下是總凈收入與訂購額的調(diào)整，并是最接近GAAP的財(cái)務(wù)指標(biāo)。
| 截至6月30日的三個(gè)月, | 截至6月30日的六個(gè)月, | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| (單位：百萬美元) | (單位：百萬美元) | |||||||||||||||
| 總收入 | $ | 21.6 | $ | 9.9 | $ | 35.7 | $ | 23.4 | ||||||||
| 遞延收入變化 | 1.3 | (0.6) | 6.7 | (0.8) | ||||||||||||
| 訂購額 | $ | 22.9 | $ | 9.3 | $ | 42.4 | $ | 22.6 | ||||||||
我們將EBITDA定義為凈利潤（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（虧損）與EBITDA的調(diào)整：
| 截至6月30日的三個(gè)月, | 截至6月30日的六個(gè)月, | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| (單位：百萬美元) | (單位：百萬美元) | |||||||||||||||
| 凈利潤（虧損） | $ | 2.3 | $ | (4.1) | $ | 0.5 | $ | (7.1) | ||||||||
| 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 | 0.2 | 0.3 | 0.6 | 0.6 | ||||||||||||
| 所得稅撥備（收益） | 0.6 | (1.1) | 0.1 | (1.9) | ||||||||||||
| 折舊及攤銷費(fèi)用 | 0.1 | 0.1 | 0.2 | 0.2 | ||||||||||||
| EBITDA | $ | 3.1 | $ | (4.8) | $ | 1.2 | $ | (8.3) | ||||||||
會議詳情
公司將于今天美國東部時(shí)間下午4:30舉辦一場會議，討論2024年第二季度財(cái)務(wù)業(yè)績。參與者可以訪問公司的投資者關(guān)系網(wǎng)站https://investor.snail.com/，加入會議直播和重播。
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使用"預(yù)期"、"相信"、"可能"、"預(yù)計(jì)"、"應(yīng)該"、"計(jì)劃"、"打算"、"預(yù)測"、"繼續(xù)"、"估計(jì)"和"潛在"等前瞻性詞匯或其他類似表達(dá)來識別。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)營結(jié)果、流動性、計(jì)劃和目標(biāo)的可能或假設(shè)的未來結(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)期未來增長的重要驅(qū)動因素；其能夠保留和增加其玩家群體、開發(fā)新的游戲和改善現(xiàn)有游戲的能力；包括來自其他休閑游戲開發(fā)商和發(fā)行商，以及大型和小型、上市和私營互聯(lián)網(wǎng)公司在內(nèi)的多個(gè)行業(yè)的公司的競爭；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；可尋址市場的規(guī)模、市場份額和市場趨勢；其能夠成功進(jìn)入新市場和管理國際擴(kuò)張的能力；保護(hù)和發(fā)展其品牌和知識產(chǎn)權(quán)組合；與捍衛(wèi)知識產(chǎn)權(quán)侵權(quán)和其他索賠相關(guān)的成本；未來業(yè)務(wù)發(fā)展、運(yùn)營結(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；股票回購計(jì)劃，包括預(yù)期回購的時(shí)間和方式；其進(jìn)行并成功整合戰(zhàn)略收購的計(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)績的風(fēng)險(xiǎn)、不確定性和其他因素的更多信息，請參閱蝸牛游戲不時(shí)向美國證券交易委員會（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)立開發(fā)商和發(fā)行商，為世界各地的消費(fèi)者提供互動數(shù)字娛樂，擁有一流的優(yōu)質(zhì)游戲產(chǎn)品組合，專為在各種平臺（包括游戲機(jī)、個(gè)人電腦和移動設(shè)備）上使用而設(shè)計(jì)。
蝸牛游戲及其附屬公司
合并資產(chǎn)負(fù)債表
（未審計(jì)）
| June 30, 2024 | December 31, 2023 | |||||||
|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||
| Current Assets: | ||||||||
| Cash and cash equivalents | $ | 15,494,156 | $ | 15,198,123 | ||||
| Accounts receivable, net of allowances for credit losses of $523,500 as of June 30, 2024 and December 31, 2023 | 8,212,318 | 25,134,808 | ||||||
| Accounts receivable - related party | 2,690,306 | - | ||||||
| Loan and interest receivable - related party | 104,751 | 103,753 | ||||||
| Prepaid expenses - related party | 4,151,547 | 6,044,404 | ||||||
| Prepaid expenses and other current assets | 1,290,375 | 639,693 | ||||||
| Prepaid taxes | 9,640,169 | 9,529,755 | ||||||
| Total current assets | 41,583,622 | 56,650,536 | ||||||
| Restricted cash and cash equivalents | 1,118,437 | 1,116,196 | ||||||
| Accounts receivable - related party, net of current portion | 4,500,592 | 7,500,592 | ||||||
| Prepaid expenses - related party, net of current portion | 11,209,590 | 7,784,062 | ||||||
| Property and equipment, net | 4,519,174 | 4,682,066 | ||||||
| Intangible assets, net - other | 271,316 | 271,717 | ||||||
| Deferred income taxes | 10,187,267 | 10,247,500 | ||||||
| Other noncurrent assets | 166,303 | 164,170 | ||||||
| Operating lease right-of-use assets, net | 1,831,269 | 2,440,690 | ||||||
| Total assets | $ | 75,387,570 | $ | 90,857,529 | ||||
| LIABILITIES, NONCONTROLLING INTERESTS AND STOCKHOLDERS' EQUITY | ||||||||
| Current Liabilities: | ||||||||
| Accounts payable | $ | 5,021,234 | $ | 12,102,929 | ||||
| Accounts payable - related parties | 16,742,358 | 23,094,436 | ||||||
| Accrued expenses and other liabilities | 2,166,996 | 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 | 2,771,040 | 2,811,923 | ||||||
| Current portion of deferred revenue | 21,451,307 | 19,252,628 | ||||||
| Current portion of operating lease liabilities | 1,575,578 | 1,505,034 | ||||||
| Total current liabilities | 53,256,283 | 71,312,607 | ||||||
| Accrued expenses | 254,731 | 254,731 | ||||||
| Deferred revenue, net of current portion | 18,866,375 | 15,064,078 | ||||||
| Operating lease liabilities, net of current portion | 615,887 | 1,425,494 | ||||||
| Total liabilities | 72,993,276 | 88,056,910 | ||||||
| Commitments and contingencies | ||||||||
| Stockholders' Equity: | ||||||||
| Class A common stock, $0.0001 par value, 500,000,000 shares authorized; 9,368,619 shares issued and 8,018,344 shares outstanding as of June 30, 2024, and 9,275,420 shares issued and 7,925,145 shares outstanding as of December 31, 2023 | 936 | 927 | ||||||
| Class B common stock, $0.0001 par value, 100,000,000 shares authorized; 28,748,580 shares issued and outstanding as of June 30, 2024 and December 31, 2023. | 2,875 | 2,875 | ||||||
| Additional paid-in capital | 25,319,673 | 26,171,575 | ||||||
| Due from shareholder - loan receivable | - | - | ||||||
| Due from shareholder - interest receivable | - | - | ||||||
| Accumulated other comprehensive loss | (282,973) | (254,383) | ||||||
| Accumulated deficit | (13,472,503) | (13,949,325) | ||||||
| Treasury stock at cost (1,350,275 as of June 30, 2024 and December 31, 2023) | (3,671,806) | (3,671,806) | ||||||
| Total Snail, Inc. equity | 7,896,202 | 8,299,863 | ||||||
| Noncontrolling interests | (5,501,908) | (5,499,244) | ||||||
| Total stockholders' equity | 2,394,294 | 2,800,619 | ||||||
| Total liabilities, noncontrolling interests and stockholders' equity | $ | 75,387,570 | $ | 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 June 30, | Six months ended June 30, | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Revenues, net | $ | 21,606,650 | $ | 9,892,253 | $ | 35,722,379 | $ | 23,350,741 | ||||||||
| Cost of revenues | 13,504,174 | 9,335,765 | 25,545,872 | 20,196,702 | ||||||||||||
| Gross profit | 8,102,476 | 556,488 | 10,176,507 | 3,154,039 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| General and administrative | 2,795,884 | 3,937,234 | 5,077,924 | 8,462,985 | ||||||||||||
| Research and development | 1,860,881 | 1,200,842 | 3,637,403 | 2,574,639 | ||||||||||||
| Advertising and marketing | 694,195 | 168,292 | 835,225 | 272,841 | ||||||||||||
| Depreciation and amortization | 80,554 | 118,110 | 162,892 | 233,170 | ||||||||||||
| Total operating expenses | 5,431,514 | 5,424,478 | 9,713,444 | 11,543,635 | ||||||||||||
| Income (loss) from operations | 2,670,962 | (4,867,990) | 463,063 | (8,389,596) | ||||||||||||
| Other income (expense): | ||||||||||||||||
| Interest income | 64,790 | 19,791 | 164,552 | 51,264 | ||||||||||||
| Interest income - related parties | 498 | 499 | 997 | 992 | ||||||||||||
| Interest expense | (142,301) | (296,237) | (538,265) | (590,820) | ||||||||||||
| Other income | 244,527 | - | 471,593 | 8,175 | ||||||||||||
| Foreign currency transaction gain (loss) | 5,652 | (21,845) | 23,780 | (24,212) | ||||||||||||
| Total other income (expense), net | 173,166 | (297,792) | 122,657 | (554,601) | ||||||||||||
| Income (loss) before benefit from income taxes | 2,844,128 | (5,165,782) | 585,720 | (8,944,197) | ||||||||||||
| Provision for (benefit from) income taxes | 589,512 | (1,081,887) | 111,562 | (1,887,705) | ||||||||||||
| Net income (loss) | 2,254,616 | (4,083,895) | 474,158 | (7,056,492) | ||||||||||||
| Net loss attributable to non-controlling interests | (1,535) | (4,464) | (2,664) | (5,683) | ||||||||||||
| Net income (loss) attributable to Snail, Inc. | $ | 2,256,151 | $ | (4,079,431) | $ | 476,822 | $ | (7,050,809) | ||||||||
| Comprehensive income (loss) statement: | ||||||||||||||||
| Net income (loss) | $ | 2,254,616 | $ | (4,083,895) | $ | 474,158 | $ | (7,056,492) | ||||||||
| Other comprehensive income (loss) related to currency translation adjustments, net of tax | (9,293) | 18,707 | (28,590) | 21,027 | ||||||||||||
| Total comprehensive income (loss) | $ | 2,245,323 | $ | (4,065,188) | $ | 445,568 | $ | (7,035,465) | ||||||||
| Net income (loss) attributable to Class A common stockholders: | ||||||||||||||||
| Basic | $ | 489,379 | $ | (879,665) | $ | 103,656 | $ | (1,522,005) | ||||||||
| Diluted | $ | 463,249 | $ | (879,665) | $ | 79,116 | $ | (1,522,005) | ||||||||
| Net income (loss) attributable to Class B common stockholders: | ||||||||||||||||
| Basic | $ | 1,766,772 | $ | (3,199,766) | $ | 373,166 | $ | (5,528,804) | ||||||||
| Diluted | $ | 1,673,031 | $ | (3,199,766) | $ | 284,821 | $ | (5,528,804) | ||||||||
| Net income (loss) per share attributable to Class A common stockholders: | ||||||||||||||||
| Basic | $ | 0.06 | $ | (0.11) | $ | 0.01 | $ | (0.19) | ||||||||
| Diluted | $ | 0.06 | $ | (0.11) | $ | 0.01 | $ | (0.19) | ||||||||
| Net income (loss) per share attributable to Class B common stockholders: | ||||||||||||||||
| Basic | $ | 0.06 | $ | (0.11) | $ | 0.01 | $ | (0.19) | ||||||||
| Diluted | $ | 0.06 | $ | (0.11) | $ | 0.01 | $ | (0.19) | ||||||||
| Weighted-average shares used to compute income (loss) per share attributable to Class A common stockholders: | ||||||||||||||||
| Basic | 8,013,634 | 7,901,145 | 7,985,631 | 7,914,096 | ||||||||||||
| Diluted | 8,196,329 | 7,901,145 | 8,225,025 | 7,914,096 | ||||||||||||
| 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 six months ended June 30, | 2024 | 2023 | ||||||
|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||
| Net income (loss) | $ | 474,158 | $ | (7,056,492) | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||||
| Amortization - intangible assets - license, related parties | - | 1,057,971 | ||||||
| Amortization - intangible assets - other | 401 | 402 | ||||||
| Amortization - loan origination fees and debt discounts | 57,632 | 20,726 | ||||||
| Accretion - convertible notes | 222,628 | - | ||||||
| Depreciation and amortization - property and equipment | 162,892 | 233,170 | ||||||
| Stock-based compensation expense | (911,893) | 385,365 | ||||||
| Interest income from restricted escrow deposit | - | (21,389) | ||||||
| Deferred taxes, net | 60,233 | (1,887,705) | ||||||
| Changes in assets and liabilities: | ||||||||
| Accounts receivable | 16,922,490 | 1,794,458 | ||||||
| Accounts receivable - related party | 309,694 | (389,042) | ||||||
| Prepaid expenses - related party | (1,532,672) | (2,500,000) | ||||||
| Prepaid expenses and other current assets | (650,682) | 234,940 | ||||||
| Prepaid taxes | (110,414) | - | ||||||
| Other noncurrent assets | - | (2,903) | ||||||
| Accounts payable | (6,818,781) | (701,488) | ||||||
| Accounts payable - related parties | (6,352,078) | (307,052) | ||||||
| Accrued expenses and other liabilities | (720,197) | 1,131,886 | ||||||
| Interest receivable - related party | (997) | (992) | ||||||
| Lease liabilities | (129,642) | (98,822) | ||||||
| Deferred revenue | 6,000,976 | (765,599) | ||||||
| Net cash provided by (used in) operating activities | 6,983,748 | (8,872,566) | ||||||
| Cash flows from financing activities: | ||||||||
| Repayments on promissory note | (40,883) | (46,517) | ||||||
| Repayments on notes payable | (2,333,333) | (2,916,666) | ||||||
| Repayments on convertible notes | (1,020,000) | - | ||||||
| Repayments on revolving loan | (3,000,000) | (3,000,000) | ||||||
| Purchase of treasury stock | - | (257,093) | ||||||
| Payments of capitalized offering costs | - | (92,318) | ||||||
| Payments of offering costs in accounts payable | (262,914) | - | ||||||
| Net cash used in financing activities | (6,657,130) | (6,312,594) | ||||||
| Effect of currency translation on cash and cash equivalents | (28,344) | 21,095 | ||||||
| Net increase (decrease) in cash and cash equivalents, and restricted cash and cash equivalents | 298,274 | (15,164,065) | ||||||
| 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 | $ | 16,612,593 | $ | 4,074,120 | ||||
| Supplemental disclosures of cash flow information | ||||||||
| Cash paid during the period for: | ||||||||
| Interest | $ | 305,825 | $ | 568,908 | ||||
| Income taxes | $ | 161,671 | $ | 270,802 | ||||
| Noncash finance activity during the period for: | ||||||||
| Debt converted to equity | $ | (60,000) | $ | - | ||||
| Refund of dividend withholding tax overpayment | $ | - | $ | 1,886,559 | ||||
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