Abacus Life Inc
For the period ended Dec 31, 2023. Filed Mar 21, 2024.
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FY2023 · Filed Mar 21, 2024
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Consolidated Statements of Stock holders’ Equity
ABACUS LIFE, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED December 31,
| Class A Common Stock · Treasury Stock · AdditionalPaid-InCapital · Retained Earnings (Accumulated Deficits) · AccumulatedOtherComprehensiveIncome · Non-ControllingInterests · TotalStockholders’Equity | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount · Shares · Amount | |||||||||||||||||||
| BALANCE AS OF DECEMBER 31, 2021(1) | 50,369,350 | $5,037 | — | $— | $704,963 | $205,048 | $— | $(148,155) | $766,893 | ||||||||||
| Distributions | — | — | — | — | — | (6,400,000) | — | — | (6,400,000) | ||||||||||
| Other comprehensive income | — | — | — | — | — | — | 1,052,836 | 342,994 | 1,395,830 | ||||||||||
| Net Income | — | — | — | — | — | 31,682,275 | — | 704,699 | 32,386,974 | ||||||||||
| BALANCE AS OF DECEMBER 31, 2022(1) | 50,369,350 | $5,037 | — | $— | $704,963 | $25,487,323 | $1,052,836 | $899,538 | 28,149,697 | ||||||||||
| Distributions | — | — | — | — | (34,451,607) | — | — | (34,451,607) | |||||||||||
| Deferred transaction costs | — | — | — | — | (555,851) | (10,841,551) | — | — | (11,397,402) | ||||||||||
| Public warrants | — | — | — | — | 4,726,500 | (3,765,600) | — | — | 960,900 | ||||||||||
| Merger with East Resources Acquisition Company | 12,980,473 | 1,298 | — | — | 17,849,052 | (20,646,575) | — | — | (2,796,225) | ||||||||||
| Acquisition of Abacus Settlements, LLC | — | — | — | — | 165,361,332 | — | — | — | 165,361,332 | ||||||||||
| Proceeds received from SPAC trust | — | — | — | — | 972,262 | — | — | — | 972,262 | ||||||||||
| Repurchase of common stock | (146,650) | (1,283,062) | (1,283,062) | ||||||||||||||||
| Stock-based compensation | 39,000 | 4 | — | — | 10,768,020 | — | — | — | 10,768,024 | ||||||||||
| Transfer of non-controlling interest | — | — | — | — | — | (24,751) | — | 24,751 | — | ||||||||||
| Other Comprehensive Income | — | — | — | — | — | — | (944,463) | (303,867) | (1,248,330) | ||||||||||
| Net Income | — | — | — | — | — | 9,516,626 | (482,139) | 9,034,487 | |||||||||||
| BALANCE AS OF DECEMBER 31, 2023 | 63,388,823 | $6,339 | (146,650) | $(1,283,062) | $199,826,278 | $(34,726,135) | $108,373 | $138,283 | $164,070,076 | ||||||||||
(1) Both the number of shares outstanding and their par value have been retrospectively recast for all prior periods presented to reflect the par value of the outstanding stock of Abacus Life, Inc. as a result of the successful Business Combination.
The accompanying notes are an integral part of these consolidated financial statements
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.