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(jiǎn)稱(chēng)"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(zhuān)注于互動(dòng)數(shù)字娛樂(lè)，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(jī)。
蝸牛游戲聯(lián)席首席執(zhí)行官Tony Tian評(píng)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(dòng)蝸牛游戲取得未來(lái)的成功和勝利。展望未來(lái)，我們很高興能夠擴(kuò)展我們的高級(jí)游戲模組的覆蓋范圍，并推出新的內(nèi)容來(lái)取悅我們?cè)谌蚍秶鷥?nèi)不斷增長(zhǎng)壯大的玩家群體。"
2024年第二季度業(yè)務(wù)亮點(diǎn)：
凈收入截至2024年6月30日三個(gè)月為2,160萬(wàn)美元，而同比截至2023年6月30日三個(gè)月為990萬(wàn)美元。凈收入的增加主要是由于方舟系列游戲的總銷(xiāo)售額增加了1000萬(wàn)美元，而頌鐘長(zhǎng)鳴的發(fā)布使公司其他游戲銷(xiāo)售額增加了390萬(wàn)美元，部分被方舟手游銷(xiāo)售額減少的30萬(wàn)美元，與方舟系列相關(guān)的遞延收入增加的190萬(wàn)美元所抵消。
凈利潤(rùn)截至2024年6月30日三個(gè)月為230萬(wàn)美元，而同比截至2023年6月30日三個(gè)月的凈虧損為410萬(wàn)美元。凈利潤(rùn)的增加是由于凈收入增加1,170萬(wàn)美元，一般和行政費(fèi)用減少120萬(wàn)美元，以及公司其他收入（費(fèi)用）增加50萬(wàn)美元，部分被研發(fā)費(fèi)用增加的70萬(wàn)美元、廣告和營(yíng)銷(xiāo)費(fèi)用增加的50萬(wàn)美元、收入成本增加的420萬(wàn)美元以及所得稅減少170萬(wàn)美元所抵消。
訂購(gòu)額（Bookings）截至2024年6月30日三個(gè)月為2,290萬(wàn)美元，而同比截至2023年6月30日三個(gè)月為930萬(wàn)美元。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4月推出的鮑勃的奇談擴(kuò)展包和新游頌鐘長(zhǎng)鳴，以及方舟：生存飛升的焦土DLC擴(kuò)展包。除上述游戲的銷(xiāo)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(wàn)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(wàn)美元收入所抵消。
息稅折舊攤銷(xiāo)前利潤(rùn)（"EBITDA"）截至2024年6月30日三個(gè)月為310萬(wàn)美元，而同比截至2023年6月30日三個(gè)月的虧損為480萬(wàn)美元。增加的主要原因是凈利潤(rùn)增加了640萬(wàn)美元，以及所得稅收益減少了170萬(wàn)美元。
截至2024年6月30日，未受限制的現(xiàn)金為1,550萬(wàn)美元。
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，訂購(gòu)額（Bookings）和息稅折舊攤銷(xiāo)前利潤(rùn)(EBITDA)作為非GAAP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）或收入這兩個(gè)運(yùn)營(yíng)業(yè)績(jī)指標(biāo)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(xiāo)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(xiāo)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(wàn)美元) |
(單位：百萬(wàn)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(gòu)額 |
$ |
22.9 |
$ |
9.3 |
$ |
42.4 |
$ |
22.6 |
||||||||
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(xiāo)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(wàn)美元) |
(單位：百萬(wàn)美元) |
|||||||||||||||
凈利潤(rùn)（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(xiāo)費(fèi)用 |
0.1 |
0.1 |
0.2 |
0.2 |
||||||||||||
EBITDA |
$ |
3.1 |
$ |
(4.8) |
$ |
1.2 |
$ |
(8.3) |
||||||||
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年第二季度財(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(lèi)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(lài)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(zhuān)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)）
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 |
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 |
||||||||
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 |
936 |
927 |
||||||
Class B common stock, $0.0001 par value, 100,000,000 shares |
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 |
(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 |
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 |
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, |
$ |
2,256,151 |
$ |
(4,079,431) |
$ |
476,822 |
$ |
(7,050,809) |
||||||||
Comprehensive income (loss) |
||||||||||||||||
Net income (loss) |
$ |
2,254,616 |
$ |
(4,083,895) |
$ |
474,158 |
$ |
(7,056,492) |
||||||||
Other comprehensive income (loss) |
(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 |
||||||||||||||||
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 |
||||||||||||||||
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 |
||||||||||||||||
Basic |
$ |
0.06 |
$ |
(0.11) |
$ |
0.01 |
$ |
(0.19) |
||||||||
Diluted |
$ |
0.06 |
$ |
(0.11) |
$ |
0.01 |
$ |
(0.19) |
||||||||
Net income (loss) per share |
||||||||||||||||
Basic |
$ |
0.06 |
$ |
(0.11) |
$ |
0.01 |
$ |
(0.19) |
||||||||
Diluted |
$ |
0.06 |
$ |
(0.11) |
$ |
0.01 |
$ |
(0.19) |
||||||||
Weighted-average shares used to |
||||||||||||||||
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 |
||||||||||||||||
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 |
||||||||
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 |
298,274 |
(15,164,065) |
||||||
Cash and cash equivalents, and restricted cash and cash equivalents - |
16,314,319 |
19,238,185 |
||||||
Cash and cash equivalents, and restricted cash and cash |
$ |
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 |
||||
