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ACCOUNTS RECEIVABLE – RELATED PARTY

9 Months Ended

Sep. 30, 2023

NOTE 5 – ACCOUNTS RECEIVABLE – RELATED PARTY

Accounts receivable — related party represents receivables in the ordinary course of business attributable to certain mobile game revenues that, for administrative reasons, are collected by a related party and that the related party has not remitted back to the Company. The accounts receivable is offset by payables due to the related party for royalties, internet data center (“IDC”) and marketing costs. Accounts receivable — related party is non-interest bearing and due on demand. The related party is 100% owned and controlled by the wife of the Founder, Chief Strategy Officer and Chairman of the Company. As of September 30, 2023 and December 31, 2022, the outstanding balance of net accounts receivable from related party was as follows:

	2023			2022
Accounts receivable – related party	$	13,578,520		$	13,519,409
Less: Accounts payable – related party		(1,979,291	)		(2,175,225	)
Accounts receivable – related party, net	$	11,599,229		$	11,344,184

Snail Inc. and Subsidiaries

Notes to Condensed Consolidated Financial Statements