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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Condensed Consolidated Statements of Operations and Comprehensive Income
ABACUS SETTLEMENTS, LLC
CONDENSED STATEMENTS OF CHANGES IN MEMBERS' EQUITY
FOR SIX MONTHS ENDED JUNE 30, 2023 AND YEAR ENDED DECEMBER 31, 2022
| Six Months EndedJune 30 (Unaudited) | Year EndedDecember 31 | |
|---|---|---|
| 2023 | 2022 | |
| Origination revenue | $3,252,738 | $7,050,007 |
| Related party revenue | 9,931,938 | 18,153,456 |
| Total revenue | 13,184,676 | 25,203,463 |
| Cost of revenue | 2,734,949 | 5,538,470 |
| Related party cost of revenue | 6,558,354 | 11,022,535 |
| Total cost of revenue | 9,293,303 | 16,561,005 |
| Gross Profit | 3,891,373 | 8,642,458 |
| OPERATING EXPENSES: | ||
| General and administrative expenses | 4,848,580 | 8,674,425 |
| Depreciation | 5,597 | 12,165 |
| Total operating expenses | 4,854,177 | 8,686,590 |
| Income (Loss) from operations | (962,804) | (44,132) |
| OTHER INCOME (EXPENSE) | ||
| Interest income | 1,917 | 2,199 |
| Interest (expense) | (11,725) | (8,817) |
| Other income | - | 273 |
| Total other income (expense) | (9,808) | (6,345) |
| Income (Loss) before provision for income taxes | (972,612) | (50,477) |
| Provision for income taxes | 2,289 | 2,018 |
| NET INCOME (LOSS) AND COMPREHENSIVE | $(974,901) | (52,495) |
| WEIGHTED-AVERAGE UNITS USED IN COMPUTING NET INCOME (LOSS) PER UNIT: | ||
| Basic | 400 | 400 |
| Diluted | 400 | 400 |
| NET INCOME/(LOSS) PER UNIT: | ||
| Basic earnings per unit | $(2,437.25) | $(131.24) |
| Diluted earnings per unit | $(2,437.25) | $(131.24) |
See accompanying notes to condensed consolidated financial statements.
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