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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 20,611,122 $ 30,052,823
Prepaid expenses and other current assets 829,595 116,646
Total current assets 32,206,622 33,282,927
Property and equipment, net 177,931 18,617
Intangible assets, net 32,900,000 0
Goodwill 140,287,000 0
Operating right-of-use assets 240,816 77,011
Life settlement policies, at cost 9,889,610 8,716,111
Life settlement policies, at fair value 56,685,617 13,809,352
Available for sale securities, at fair value 1,000,000 1,000,000
Other investments 1,600,000 1,300,000
Due from members and affiliates 75,582 0
State security deposit 206,873 0
Certificate of deposit 262,500 0
Other assets, at fair value 1,801,886 890,829
TOTAL ASSETS 277,334,437 59,094,847
CURRENT LIABILITIES:    
Accrued expenses 524,400 0
Accounts payable 401,500 40,014
Operating lease liabilities—current portion 227,561 48,127
Accrued transaction costs 182,571 908,256
Contract liabilities—deposits on pending settlements 981,217 0
Income taxes payable 185,831 0
Total current liabilities 13,894,422 1,302,409
SPV purchase and sale note 25,000,000 0
Long-term debt, at fair value 66,165,396 28,249,653
Operating lease liabilities—noncurrent portion 16,864 29,268
Deferred tax liability 9,320,240 1,363,820
Warrant liability 2,438,600 0
TOTAL LIABILITIES 116,835,522 30,945,150
COMMITMENTS AND CONTINGENCIES (11)
SHAREHOLDERS' EQUITY (DEFICIT)    
Additional paid-in capital 188,641,886 704,963
Retained earnings/(accumulated deficit) (29,382,362) 25,487,323
Accumulated other comprehensive income 877,306 1,052,836
Non-controlling interest 355,789 899,538
Total shareholders' equity (deficit) 160,498,915 28,149,697 [1]
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT) 277,334,437 59,094,847
Class A Common Stock    
SHAREHOLDERS' EQUITY (DEFICIT)    
Class A common stock, $0.0001 par value; 200,000,000 authorized shares; 62,961,688 and 50,369,350 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively 6,296 5,037
Nonrelated Party    
CURRENT ASSETS:    
Accounts receivable 192,595 10,448
Other receivables 21,252 0
CURRENT LIABILITIES:    
Other current liabilities 258,759 42,227
Affiliated Entity    
CURRENT ASSETS:    
Other receivables 10,473,748 2,904,646
CURRENT LIABILITIES:    
Other current liabilities 10,415,154 263,785
Related Party    
CURRENT ASSETS:    
Accounts receivable 78,310 198,364
Owners    
CURRENT LIABILITIES:    
Other current liabilities $ 717,429 $ 0
[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 the Abacus Life Inc. as a result of the successful Business Combination.