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EARNINGS (LOSS) PER SHARE

3 Months Ended

Mar. 31, 2023

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE

NOTE 19 – EARNINGS (LOSS) PER SHARE

The Company uses the two class method to compute its basic earnings (loss) per share (“Basic EPS”) and diluted earnings per share (“Diluted EPS”). The following table summarizes the computations of basic EPS and diluted EPS. The allocation of earnings between Class A and Class B shares is based on their respective economic rights to the undistributed earnings of the Company. Basic EPS is computed as net income (loss) divided by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur from common shares issuable through stock-based compensation plans including restricted stock units using the treasury stock method. The restricted stock units were excluded from the treasury stock method computation of diluted shares as their inclusion would have had an antidilutive effect for the three months ended March 31, 2023. There were no such exclusions made in the 2022 calculation. For the three months ended March 31, 2022, the Company has used the number of shares transferred in the reorganization transaction for the denominator in the EPS calculation. The following table provides a reconciliation of the weighted average number of shares used in the calculation of basic and diluted EPS.

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​	​	​	​	​	​	​
​		2023			2022
Basic Earnings Per Share:	​	​		​	​
Net income (loss) attributable to Class A common stockholders	​	$	(642,340)	​	$	5,811,057
Net income (loss) attributable to Class B common stockholders	​		(2,329,038)	​		—
Total net income (loss) attributable to Snail Inc and Snail Games USA Inc.	​	$	(2,971,378)	​	$	5,811,057
Class A weighted average shares outstanding - basic	​		7,928,742	​		35,000,000
Class B weighted average shares outstanding - basic	​		28,748,580	​		—
Class A and B basic earnings per share	​	$	(0.08)	​	$	0.17
​	​	​	​	​	​	​
Diluted Earnings Per Share:	​			​
Net income (loss) attributable to Class A common stockholders	​	$	(642,340)	​	$	5,811,057
Net income (loss) attributable to Class B common stockholders	​	$	(2,329,038)	​	$	—
Class A weighted average shares outstanding - basic	​		7,928,742	​		35,000,000
Dilutive effects of common stock equivalents	​		—	​		—
Class A weighted average shares outstanding - diluted	​		7,928,742	​		35,000,000
Class B weighted average shares outstanding - basic	​		28,748,580	​		—
Dilutive effects of common stock equivalents	​		—	​		—
Class B weighted average shares outstanding - diluted	​		28,748,580	​		—
Diluted earnings (loss) per Class A and B share	​	$	(0.08)	​	$	0.17

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The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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-Section 50
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-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI https://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
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-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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