$LMFA
LM FUNDING AMERICA, INC.

2019 Q1 Form 10-Q Financial Statement

#000156459019019466 Filed on May 15, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $660.0K $960.0K
YoY Change -31.25% -6.25%
Cost Of Revenue $430.0K $60.00K
YoY Change 616.67% -88.24%
Gross Profit $230.0K $900.0K
YoY Change -74.44% 76.47%
Gross Profit Margin 34.85% 93.75%
Selling, General & Admin $540.0K $72.55K
YoY Change 644.33% -85.21%
% of Gross Profit 234.78% 8.06%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.69K $22.16K
YoY Change -24.65% 343.1%
% of Gross Profit 7.26% 2.46%
Operating Expenses $985.1K $972.7K
YoY Change 1.28% -36.54%
Operating Profit -$321.1K -$8.918K
YoY Change 3500.94% -98.25%
Interest Expense $1.033K $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$320.0K -$8.918K
YoY Change 3488.25% -98.6%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$457.0K -$8.918K
YoY Change 5024.67% -97.79%
Net Earnings / Revenue -69.25% -0.93%
Basic Earnings Per Share -$0.15 -$0.01
Diluted Earnings Per Share -$0.15 -$0.01
COMMON SHARES
Basic Shares Outstanding 3.132M 625.3K
Diluted Shares Outstanding 3.132M 625.3K

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.380M $460.0K
YoY Change 634.78% -66.91%
Cash & Equivalents $3.379M
Short-Term Investments
Other Short-Term Assets $170.0K $120.0K
YoY Change 41.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $3.550M $590.0K
YoY Change 501.69% -80.97%
LONG-TERM ASSETS
Property, Plant & Equipment $60.00K $58.67K
YoY Change 2.26% -42.35%
Goodwill $5.810M
YoY Change
Intangibles
YoY Change
Long-Term Investments $50.00K $180.0K
YoY Change -72.22%
Other Assets $30.00K $60.00K
YoY Change -50.0% -98.74%
Total Long-Term Assets $6.590M $1.220M
YoY Change 440.16% -80.32%
TOTAL ASSETS
Total Short-Term Assets $3.550M $590.0K
Total Long-Term Assets $6.590M $1.220M
Total Assets $10.14M $1.810M
YoY Change 460.22% -80.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $60.00K $30.00K
YoY Change 100.0%
Accrued Expenses $20.00K $510.0K
YoY Change -96.08%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $390.0K $870.0K
YoY Change -55.17%
LONG-TERM LIABILITIES
Long-Term Debt $4.280M $20.00K
YoY Change 21300.0% -99.6%
Other Long-Term Liabilities $60.00K $30.00K
YoY Change 100.0% -94.23%
Total Long-Term Liabilities $4.340M $50.00K
YoY Change 8580.0% -99.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $390.0K $870.0K
Total Long-Term Liabilities $4.340M $50.00K
Total Liabilities $4.760M $918.6K
YoY Change 418.16% -83.36%
SHAREHOLDERS EQUITY
Retained Earnings -$11.03M
YoY Change
Common Stock $11.91M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.377M $887.5K
YoY Change
Total Liabilities & Shareholders Equity $10.14M $1.806M
YoY Change 461.41% -80.58%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$457.0K -$8.918K
YoY Change 5024.67% -97.79%
Depreciation, Depletion And Amortization $16.69K $22.16K
YoY Change -24.65% 343.1%
Cash From Operating Activities -$269.9K -$136.5K
YoY Change 97.66% -82.72%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $150.0K $60.00K
YoY Change 150.0% -40.0%
Cash From Investing Activities -$18.36K -$53.42K
YoY Change -65.63% -153.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -18.36K 64.46K
YoY Change -128.48% -135.81%
NET CHANGE
Cash From Operating Activities -269.9K -136.5K
Cash From Investing Activities -18.36K -53.42K
Cash From Financing Activities -18.36K 64.46K
Net Change In Cash -306.6K -125.5K
YoY Change 144.31% -85.58%
FREE CASH FLOW
Cash From Operating Activities -$269.9K -$136.5K
Capital Expenditures $0.00
Free Cash Flow -$136.5K
YoY Change -82.72%

Facts In Submission

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<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Use of Estimates</font></p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the evaluation of any probable losses on amounts funded under the Company&#8217;s <font style="font-style:italic;">New Neighbor Guaranty</font> program as disclosed below, the evaluation of probable losses on balances due from a related party, the realization of deferred tax assets, the evaluation of contingent losses related to litigation and fair value estimates of real estate assets owned.</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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