CULVER CITY, Calif., Aug. 11, 2026 (GLOBE NEWSWIRE) -- Snail, Inc. (Nasdaq: SNAL) ("Snail Games" or the "Company"), a leading global independent developer and publisher of interactive digital entertainment, today announced financial results for the second quarter ended June 30, 2026.
Second Quarter 2026 and Recent Operational Highlights
ARK Franchise Updates:
-- ARK: Survival Evolved ("ASE"):
-- Units sold were approximately 574,000 for the second quarter of
2026
-- During the second quarter of 2026, average daily active users
("DAU") were 105,000 and peak DAU was 131,000
-- ARK: Survival Ascended ("ASA"):
-- Units sold were approximately 1.2 million for the second quarter
of 2026
-- During the second quarter of 2026, average DAU was 120,000 and
peak DAU was over 155,000
-- Launched the ARK: Fantastic Tames Season 1 Pack
-- Launched ARK: Genesis Part 1 Ascended, ARK: Tides of Fortune, and
shadow-dropped the ARK: Dragontopia
-- Revealed teaser for ARK Maker, a content creation tool designed to
expand community-generated content opportunities within the ASA
ecosystem
-- ARK: Ultimate Mobile Edition ("ARK Mobile"):
-- 13.2 million downloads as of June 30, 2026
-- During the second quarter of 2026, average DAU was 129,000
-- Other ARK IPs
-- Shared new details around ARK: The Animated Series Part 2 at IGN
Live
-- Unveiled PixARK: Terracrypt, the largest paid DLC expansion for
PixARK, planned to introduce more than 200 hours of gameplay and
80 new creatures
Game Portfolio and Business Updates:
-- AAA Game Pipeline
-- Officially unveiled 9 Yin Sutra: Immortal at ChinaJoy 2026,
revealing a new trailer and Steam page
-- Announced attendance at Gamescon 2026, where the Company will
unveil a first look at an unannounced internally developed AAA
title, alongside ASA, For The Stars, Bellwright, and Honeycomb:
The World Beyond
-- Released a new developer diary for For The Stars, offering an
in-depth look at the game's current development progress, new
pre-alpha footage, and previously unreleased concept art
-- Bellwright launched on PlayStation and Xbox
-- Reached the Top 5 Paid Games list on Xbox following the console
launch, demonstrating positive early engagement
-- Launched Survivor Mercs 1.0 across Steam, Xbox, and PlayStation, and
launched Above The Snow on Steam
Business and Operational Updates
-- Egofold, the Company's subsidiary, publicly debuted the AI Ranch
initiative and Non-Human Player$(TM)$ $(NHP)$, an AI gaming companion for
consumers, at the Ai4 2026 conference
-- As of June 30, 2026, SaltyTV released 300+ short film dramas
ARK Content Pipeline
Title Platforms Type Release Schedule
ARK Fantastic Tames Steam, Xbox, DLC Creature Q3 2026
-- Cerberax PlayStation
ARK Fantastic Tames Steam, Xbox, DLC Creature Q4 2026
-- Enigmasour PlayStation
ARK Dragontopia Steam, Xbox, ASA DLC Q3 & Q4 2026
(content updates) PlayStation
ARK Maker Steam, Xbox, ASA Content 2026
PlayStation Creation Tool
ARK Survival of the Steam, Xbox, ASA Game Mode 2026
Fittest PlayStation
PixARK: Terracrypt Steam, Xbox, PixARK DLC 2026
PlayStation,
Nintendo Switch
PixARK Worlds Steam, Xbox, New Title 2027
PlayStation,
Nintendo Switch 2
ARK Atlantis Steam, Xbox, ASA DLC 2027
PlayStation
ARK Galaxy Wars Steam, Xbox, ASA DLC 2027
PlayStation
ARK Legacy of Steam, Xbox, ASA DLC 2027
Santiago PlayStation
Diversified Content Pipeline
Title Platforms Type Release Schedule
Dead Party Steam Indie Title 2026
Honeycomb: The World Beyond Steam Indie Title 2026
Veil of Madness Steam Indie Title 2026
Gobby Gang Steam Indie Title 2027
For The Stars Steam AAA Title TBD
9 Yin Sutra: Immortal Steam AAA Title TBD
9 Yin Sutra: Wushu Steam AAA Title TBD
Management Commentary
"Over the last several months, we have begun executing against the robust gaming pipeline we previously outlined, which has established a strong foundation for the second half of 2026," said Snail CEO Hai Shi. "During the second quarter, we launched the ARK: Fantastic Tames Season 1 Pack and brought Bellwright to Xbox and PlayStation, with the console launch providing an important contribution during an otherwise measured quarter for new game releases. Shortly after the second quarter ended, we released three ARK DLC expansion maps: Tides of Fortune, Genesis Part 1 Ascended, and Dragontopia. These launches, together with our broader slate of planned ARK content, have established a strong foundation for the rest of the year. Additionally, we continue to invest in our next generation of internally developed AAA titles, which we view as critical drivers of Snail's long-term growth profile. For The Stars and 9 Yin Sutra Immortal were showcased across select gaming events over the past several months, demonstrating meaningful development progress and growing visibility for these titles as they move through the later stages of development.
"Operationally, we have made significant progress across a new developing initiative that expands beyond traditional game development and publishing. Just last week, we announced our attendance at the Ai4 2026 conference, where we unveiled the AI Ranch initiative and our new product in development called Non-Human Player (NHP), an AI companion product for consumers designed to learn, adapt, and interact like a real human teammate. NHP is designed to deliver a personalized gaming experience tailored to each user's playstyle. We believe this technology has the potential to address key challenges casual and hardcore gamers face while creating a personalized AI companion that can help players enjoy and improve their gaming experience across multiple titles.
"The outlook for the second half of 2026 remains strong as we continue to execute across multiple gaming pipelines and business opportunities. With a strong slate of ARK content through 2027, meaningful progress across three upcoming AAA titles, and the introduction of new business initiatives, we are well-positioned to support the transformation of Snail's profile over the next several quarters."
Second Quarter 2026 Financial Highlights
Net revenues were $19.7 million compared to $22.2 million in the same period last year. The decrease was primarily due to a $4.2 million decrease in sales of ARK: Survival Ascended, a decrease of $1.8 million from ARK: Survival Evolved, a decrease of $0.4 million from ARK: Ultimate Mobile Edition, a decrease of $0.2 million from SaltyTV, and a decrease of $0.2 million from other various titles, offset by an increase in revenues related to Bellwright of $1.5 million and $2.8 million change in deferred revenues.
Total units sold were 2.0 million units compared to 2.1 million units in the same period last year, primarily driven by lower sales of ARK franchise titles of 0.2 million units, partially offset by an increase in sales of Bellwright of 0.1 million units.
Net loss improved 81.6% to $3.0 million compared to a net loss of $16.6 million in the same period last year. The increase was primarily due to a reduction of $14.0 million in the income tax provision from the prior-year quarter and an improvement in gross profit, partially offset by higher general and administrative and research and development expenses.
Bookings were $21.8 million compared to $27.1 million in the same period last year. The decrease was primarily due to lower sales of ARK: Survival Ascended and ARK: Survival Evolved, partially offset by bookings generated from Bellwright.
EBITDA was $(3.0) million compared to $(2.4) million in the same period last year. The decrease was primarily due to an improvement in net loss of $13.5 million and a decrease in depreciation expense of $0.1 million, more than offset by a decrease in the provision of income taxes of $14.0 million.
Six Months 2026 Financial Highlights
Net revenues increased 11.1% to $47.0 million compared to $42.3 million in the same period last year. The increase was primarily attributed to a $3.6 million increase in sales of Bellwright and a $5.3 million change in deferred revenues, partially offset by a decrease in ARK: Survival Evolved revenue of $2.7 million and a decrease of $1.4 million attributable to lower sales of ARK: Survival Ascended.
Total units sold increased 13.8% to 4.2 million units compared to 3.7 million units in the same period last year. The increase was primarily due to increased sales of ARK: Survival Ascended of 1.0 million units and an increase in Bellwright of 0.2 million units; partially offset by a decrease in ARK: Survival Evolved sales of 0.7 million units.
Net loss improved 95.1% to $(0.9) million compared to $(18.5) million in the same period last year. The improvement was primarily due to the absence of the $12.4 million income tax provision recorded in the prior-year period, which resulted from the valuation allowance recognized against the Company's deferred tax assets, together with a $6.5 million improvement in gross profit.
Bookings were $48.7 million compared to $49.4 million in the same period last year. The decrease was primarily due to lower sales of ARK: Survival Evolved as the title continued to mature and consumer demand shifted toward ARK: Survival Ascended and its related downloadable content, partially offset by increased sales of ARK: Survival Ascended and Bellwright, which benefited from promotional pricing during the period.
EBITDA improved 88.8% to $(0.6) million compared to $(5.8) million in the same period last year. The improvement was primarily due to an improvement in net loss of $17.6 million, partially offset by a decrease in the provision for income taxes of $12.4 million.
As of June 30, 2026, unrestricted cash was $13.3 million compared to $8.6 million as of December 31, 2025.
Use of Non-GAAP Financial Measures
In addition to the financial results determined in accordance with U.S. generally accepted accounting principles, or GAAP, Snail believes Bookings and EBITDA, as non-GAAP measures, are useful in evaluating its operating performance. Bookings and EBITDA are non-GAAP financial measures that are presented as supplemental disclosures and should not be construed as alternatives to net income (loss) or revenue as indicators of operating performance, nor as alternatives to cash flow provided by operating activities as measures of liquidity, both as determined in accordance with GAAP. Snail supplementally presents Bookings and EBITDA because they are key operating measures used by management to assess financial performance. Bookings adjusts for the impact of deferrals and, Snail believes, provides a useful indicator of sales in a given period. Management believes Bookings and EBITDA are useful to investors and analysts in highlighting trends in Snail's operating performance. At the same time, other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which Snail operates, and capital investments.
Bookings is defined as the net amount of products and services sold digitally or physically in the period. Bookings is equal to revenues, excluding the impact from deferrals. Below is a reconciliation of total net revenue to Bookings, the closest GAAP financial measure.
Three Months Ended June 30, Six Months Ended June 30,
--------------------------- --------------------------
2026 2025 2026 2025
-------------- ----------- ------------ ------------
(in millions) (in millions)
Total net
revenue $ 19.7 $ 22.2 $ 47.0 $ 42.3
Change in
deferred
net
revenue 2.1 4.9 1.7 7.1
----- ------- ------- --- ------- --------
Bookings $ 21.8 $ 27.1 $ 48.7 $ 49.4
===== ======= ======= === ======= ========
We define EBITDA as net income (loss) before (i) interest expense, (ii) interest income, (iii) provision for (benefit from) income taxes and (iv) depreciation expense. The following table provides a reconciliation from net income (loss) to EBITDA:
Three Months Ended June
30, Six Months Ended June 30,
------------------------- --------------------------
2026 2025 2026 2025
--------- --------- -------- ---------
(in millions) (in millions)
Net loss $ (3.0) $ (16.6) $ (0.9) $ (18.5)
Interest income
and interest
income --
related
parties (0.1) -- (0.1) (0.1)
Interest
expense 0.2 0.2 0.4 0.3
(Benefit from)
provision for
income taxes (0.1) 13.9 -- 12.4
Depreciation
expense -- 0.1 -- 0.1
--- ---- ----- ---- -----
EBITDA $ (3.0) $ (2.4) $ (0.6) $ (5.8)
=== ==== ===== ==== =====
Webcast Details
The Company will host a webcast at 4:30 PM ET today to discuss its second quarter 2026 financial and operational results. Participants may access the live webcast and replay via the link here or on the Company's investor relations website at https://investor.snail.com/.
About Snail, Inc.
Snail, Inc. (Nasdaq: SNAL) is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs, and mobile devices. For more information, please visit: https://snail.com/.
Forward-Looking Statements
This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as "anticipate," "believe," "could," "expect," "should," "plan," "intend, " "may," "predict," "continue," "estimate" and "potential," or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements regarding Snail's intent, belief or current expectations. These forward-looking statements include information about possible or assumed future results of Snail's business, financial condition, results of operations, liquidity, plans and objectives. The statements Snail makes regarding the following matters are forward-looking by their nature: recent game launches and the Company's broader slate of planned content establishing a strong foundation for the rest of the year; the Company's next generation of internally developed AAA titles serving as critical drivers of Snail's long-term growth profile; the For The Stars and 9 Yin Sutra Immortal titles demonstrating meaningful development progress and growing visibility and moving through the later stages of development; the AI Ranch initiative and the development of the Non-Human Player (NHP) product; the Company's gaming pipeline being well-positioned to support the transformation of the Company's profile ;the Non-Human Player (NHP) having the potential to address key challenges casual and hardcore gamers face while creating a personalized AI companion that can help players enjoy and improve their gaming experience across multiple titles; and the outlook for the second half of 2026 remaining strong as Snail continues to execute across multiple gaming pipelines and business opportunities.
Any forward-looking statements included herein reflect our current views, and they involve certain risks and uncertainties, including, among others, acceptance of our titles in the marketplace and the successful development, marketing or sale of our titles and our ability to retain our key employees or maintain our Nasdaq listing. These risks should not be construed as exhaustive and should be read together with the other cautionary statement included in our Annual Report on Form 10-K for the year ended December 31, 2025, subsequent Quarterly Reports on Form 10-Q and current reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it was initially made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.
Investor Contact:
John Yi and Steven Shinmachi
Gateway Group, Inc.
949-574-3860
SNAL@gateway-grp.com
Snail, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets as of June 30,
2026 and December 31, 2025 (Unaudited)
June 30, 2026 December 31, 2025
--------------- -------------------
ASSETS
Current Assets:
Cash and cash equivalents $ 13,293,820 $ 8,568,164
Restricted cash and cash
equivalents 562,000 187,000
Accounts receivable, net of
allowances for credit losses
of $523,500 as of June 30,
2026 and December 31, 2025 9,345,753 12,528,347
Loan and interest receivable
-- related party 108,751 107,759
Prepaid expenses -- related
party 5,793,460 2,700,474
Prepaid expenses and other
current assets 1,621,428 2,232,485
Prepaid taxes 1,047,870 4,734,007
----------- ---------------
Total current assets 31,773,082 31,058,236
Restricted cash and cash
equivalents, net of current
portion 1,748,000 1,748,000
Prepaid expenses -- related
party, net of current portion 5,582,500 8,282,974
Property and equipment, net 4,120,607 4,146,175
Intangible assets, net 3,898,541 3,827,927
Intangible assets, net --
related party 4,416,667 4,916,667
Other noncurrent assets, net 908,408 604,793
Operating lease right-of-use
assets, net 4,687,027 4,722,366
----------- ---------------
Total assets $ 57,134,832 $ 59,307,138
=========== ===============
LIABILITIES, NONCONTROLLING
INTERESTS AND STOCKHOLDERS'
DEFICIT
Current Liabilities:
Accounts payable $ 3,926,768 $ 5,506,332
Accounts payable -- related
parties 18,426,220 20,067,013
Accrued expenses and other
liabilities 3,939,436 3,364,150
Interest payable -- related
parties 527,770 527,770
Convertible notes at fair
value 568,499 3,842,189
Current portion of long-term
debt 1,353,296 1,305,880
Current portion of deferred
revenue 28,538,494 14,799,840
Current portion of operating
lease liabilities 472,345 393,448
----------- ---------------
Total current liabilities 57,752,828 49,806,622
Accrued expenses 625,354 468,106
Revolving loan 2,500,000 5,000,000
Long-term debt, net of current
portion 3,650,745 4,292,538
Deferred revenue, net of current
portion 5,276,523 17,282,685
Operating lease liabilities, net
of current portion 4,328,864 4,336,240
----------- ---------------
Total liabilities 74,134,314 81,186,191
----------- ---------------
Commitments and contingencies
Stockholders' Deficit:
Class A common stock, $0.0001
par value, 500,000,000 shares
authorized; 3,363,834 shares
issued and 3,093,778 shares
outstanding as of June 30,
2026, and 2,076,467 shares
issued and 1,806,412 shares
outstanding as of December 31,
2025 336 208
Class B common stock, $0.0001
par value, 100,000,000 shares
authorized; 5,749,716 shares
issued and outstanding as of
June 30, 2026 and December 31,
2025 575 575
Additional paid-in capital 32,732,935 26,926,245
Accumulated other comprehensive
loss (295,578) (275,049)
Accumulated deficit (40,258,553) (39,352,510)
Treasury stock at cost (270,055
shares as of June 30, 2026 and
December 31, 2025) (3,671,806) (3,671,806)
----------- ---------------
Total Snail, Inc. deficit (11,492,091) (16,372,337)
Noncontrolling interests (5,507,391) (5,506,716)
----------- ---------------
Total stockholders' deficit (16,999,482) (21,879,053)
----------- ---------------
Total liabilities,
noncontrolling interests and
stockholders' deficit $ 57,134,832 $ 59,307,138
=========== ===============
Snail, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations and
Comprehensive Loss for the Three and Six Months Ended
June 30, 2026 and 2025 (Unaudited)
Three Months Ended June
30, Six Months Ended June 30,
-------------------------- --------------------------
2026 2025 2026 2025
----------- ------------ ----------- ------------
Revenues, net $19,676,448 $ 22,185,750 $46,971,102 $ 42,296,622
Cost of revenues 11,988,665 15,231,005 27,626,878 29,494,350
---------- ----------- ---------- -----------
Gross profit 7,687,783 6,954,745 19,344,224 12,802,272
---------- ----------- ---------- -----------
Operating
expenses:
General and
administrative 4,975,250 3,475,089 9,626,007 8,439,440
Research and
development 4,453,153 3,293,409 8,467,822 6,903,154
Advertising and
marketing 814,705 1,520,201 1,683,494 2,826,567
Depreciation
and
amortization 12,834 67,761 25,568 135,665
Impairment of
film assets 96,838 415,719 165,987 415,719
---------- ----------- ---------- -----------
Total operating
expenses 10,352,780 8,772,179 19,968,878 18,720,545
---------- ----------- ---------- -----------
Loss from
operations (2,664,997) (1,817,434) (624,654) (5,918,273)
---------- ----------- ---------- -----------
Other income
(expense):
Interest income 58,235 31,972 100,082 61,878
Interest income
-- related
party 499 499 992 992
Interest
expense (152,125) (169,286) (358,171) (250,115)
Other (expense)
income (415,082) (707,968) (60,031) 61,794
Foreign
currency
transaction
gain (loss) (1,433) (31,891) 8,259 (68,179)
---------- ----------- ---------- -----------
Total other
expense, net (509,906) (876,674) (308,869) (193,630)
---------- ----------- ---------- -----------
Loss before
provision for
income taxes (3,174,903) (2,694,108) (933,523) (6,111,903)
Provision for
(benefit from)
income taxes (133,629) 13,868,598 (26,805) 12,397,768
---------- ----------- ---------- -----------
Net loss (3,041,274) (16,562,706) (906,718) (18,509,671)
Net loss
attributable to
non-controlling
interests (525) (282) (675) (1,238)
---------- ----------- ---------- -----------
Net loss
attributable to
Snail, Inc. (3,040,749) (16,562,424) (906,043) (18,508,433)
Comprehensive loss
statement:
Net loss (3,041,274) (16,562,706) (906,718) (18,509,671)
Other
comprehensive
income (loss)
related to
foreign currency
translation
adjustments, net
of tax 984 30,587 (25,839) 63,820
Other
comprehensive
income related to
credit
adjustments, net
of tax -- -- 5,310 22,023
---------- ----------- ---------- -----------
Total
comprehensive
loss $(3,040,290) $(16,532,119) $ (927,247) $(18,423,828)
========== =========== ========== ===========
Net loss
attributable to
Class A common
stockholders:
Basic $ (989,812) $ (3,775,300) $ (258,255) $ (4,210,496)
========== =========== ========== ===========
Diluted $ (989,812) $ (3,775,300) $ (258,255) $ (4,216,414)
========== =========== ========== ===========
Net loss
attributable to
Class B common
stockholders:
Basic $(2,050,937) $(12,787,124) $ (647,788) $(14,297,937)
========== =========== ========== ===========
Diluted $(2,050,937) $(12,787,124) $ (647,788) $(14,318,033)
========== =========== ========== ===========
Loss per share
attributable to
Class A and B
common
stockholders:
Basic $ (0.36) $ (2.22) $ (0.11) $ (2.49)
========== =========== ========== ===========
Diluted $ (0.36) $ (2.22) $ (0.11) $ (2.49)
========== =========== ========== ===========
Weighted-average
shares used to
compute income
(loss) per share
attributable to
Class A common
stockholders:
Basic 2,774,897 1,697,559 2,292,247 1,693,192
========== =========== ========== ===========
Diluted 2,774,897 1,697,559 2,292,247 1,693,507
========== =========== ========== ===========
Weighted-average
shares used to
compute income
(loss) per share
attributable to
Class B common
stockholders:
Basic 5,749,716 5,749,716 5,749,716 5,749,716
========== =========== ========== ===========
Diluted 5,749,716 5,749,716 5,749,716 5,749,716
========== =========== ========== ===========
Snail, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows for
the Six Months Ended June 30, 2026 and 2025 (Unaudited)
2026 2025
----------- ------------
Cash flows from operating activities:
Net loss $ (906,718) $(18,509,671)
Adjustments to reconcile net loss to
net cash provided by (used in)
operating activities:
Amortization -- intangible assets,
net 327,756 79,424
Amortization -- intangible assets,
net -- related party 500,000 --
Amortization -- film assets 231,917 645,069
Amortization -- loan origination
fees and debt discounts 4,932 (19,504)
Loss on change in fair value of
convertible notes 121,165 82,180
Gain on change in fair value of
warrant liabilities (39,243) (91,383)
Depreciation -- property and
equipment 25,568 135,667
Impairment of film assets 165,987 415,719
Gain on remeasurement of previously
held equity interest -- (7,857)
Gain on lease termination (1,799) --
Stock-based compensation expense 101,130 280,888
Deferred taxes, net -- 10,808,885
Changes in assets and liabilities, net
of business acquisitions:
Accounts receivable 3,182,594 (7,825,905)
Accounts receivable -- related party -- 3,836,866
Prepaid expenses -- related party (392,512) (1,728,666)
Prepaid expenses and other current
assets 611,057 537,799
Prepaid taxes 3,686,137 1,161,649
Other noncurrent assets, net (696,951) (1,064,165)
Accounts payable (1,636,164) (110,912)
Accounts payable -- related parties (1,640,793) 1,040,862
Accrued expenses and other
liabilities 1,378,317 1,009,796
Loan and interest receivable --
related party (992) (992)
Lease liabilities 108,659 (163,920)
Deferred revenue 1,732,492 7,075,046
---------- -----------
Net cash provided by (used in)
operating activities 6,862,539 (2,413,125)
---------- -----------
Cash flows from investing activities:
Acquisition of software -- (290,000)
Acquisition of software licenses (343,770) (2,008,690)
Investments in software -- (718,236)
Net cash paid for acquisition of
Matrioshka -- (9,719)
---------- -----------
Net cash used in investing activities (343,770) (3,026,645)
---------- -----------
Cash flows from financing activities:
Proceeds from at-the-market
offering, net of issuance costs 4,232,897 --
Repayments on notes payable (594,376) --
Repayments on convertible notes (2,523,295) (638,753)
Repayments on revolving loan (2,500,000) (43,018)
Borrowings on term loan -- 3,500,000
Cash proceeds from exercise of
warrants -- 159,000
Proceeds from issuance of
convertible notes -- 3,000,000
Payments of loan origination fees (7,500) --
---------- -----------
Net cash provided by (used in)
financing activities (1,392,274) 5,977,229
---------- -----------
Effect of foreign currency translation
on cash and cash equivalents (25,839) 64,023
---------- -----------
Net increase in cash and cash
equivalents, and restricted cash and
cash equivalents 5,100,656 601,482
Cash and cash equivalents, and
restricted cash and cash equivalents
-- beginning of the period 10,503,164 8,238,944
---------- -----------
Cash and cash equivalents, and
restricted cash and cash equivalents
-- end of the period $15,603,820 $ 8,840,426
========== ===========
Supplemental disclosures of cash flow
information
Cash paid during the period for:
Interest $ 311,933 $ 230,318
========== ===========
Income taxes $ 82,428 $ 612,007
========== ===========
Noncash transactions during the period
for:
Liabilities converted to equity upon
exercise of warrants $ 606,541 $ 323,113
========== ===========
Acquisition of film licenses in
accounts payable $ 2,000 $ 86,069
========== ===========
Acquisition of software and software
licenses in accounts payable and
accrued expenses $ 54,600 $ 313,282
========== ===========
Change in fair value of notes
recorded in accumulated other
comprehensive income $ 5,310 $ 22,023
========== ===========
Right-of-use assets obtained in
exchange for lease liability $ (297,000) $ (55,267)
========== ===========
Net assets acquired in a business
combination $ -- $ 5,461
========== ===========
Debt converted to equity $ 866,250 --
========== ===========