$LMFA
LM FUNDING AMERICA, INC.

2020 Q1 Form 10-Q Financial Statement

#000156459020026022 Filed on May 18, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $341.2K $660.0K
YoY Change -48.3% -31.25%
Cost Of Revenue $510.0K $430.0K
YoY Change 18.6% 616.67%
Gross Profit -$170.0K $230.0K
YoY Change -173.91% -74.44%
Gross Profit Margin -49.82% 34.85%
Selling, General & Admin $80.22K $540.0K
YoY Change -85.14% 644.33%
% of Gross Profit 234.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.812K $16.69K
YoY Change -65.18% -24.65%
% of Gross Profit 7.26%
Operating Expenses $901.8K $985.1K
YoY Change -8.45% 1.28%
Operating Profit -$560.6K -$321.1K
YoY Change 74.58% 3500.94%
Interest Expense $6.894K $1.033K
YoY Change 567.38%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$567.5K -$320.0K
YoY Change 77.35% 3488.25%
Income Tax
% Of Pretax Income
Net Earnings -$551.1K -$457.0K
YoY Change 20.58% 5024.67%
Net Earnings / Revenue -161.52% -69.25%
Basic Earnings Per Share -$0.85 -$0.15
Diluted Earnings Per Share -$0.85 -$0.15
COMMON SHARES
Basic Shares Outstanding 646.6K 3.132M
Diluted Shares Outstanding 646.6K 3.132M

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $770.0K $3.380M
YoY Change -77.22% 634.78%
Cash & Equivalents $771.9K $3.379M
Short-Term Investments
Other Short-Term Assets $120.0K $170.0K
YoY Change -29.41% 41.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.270M $3.550M
YoY Change -64.23% 501.69%
LONG-TERM ASSETS
Property, Plant & Equipment $240.0K $60.00K
YoY Change 300.0% 2.26%
Goodwill $5.810M
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.520M $50.00K
YoY Change 2940.0% -72.22%
Other Assets $10.00K $30.00K
YoY Change -66.67% -50.0%
Total Long-Term Assets $1.775M $6.590M
YoY Change -73.06% 440.16%
TOTAL ASSETS
Total Short-Term Assets $1.270M $3.550M
Total Long-Term Assets $1.775M $6.590M
Total Assets $3.043M $10.14M
YoY Change -69.99% 460.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $100.0K $60.00K
YoY Change 66.67% 100.0%
Accrued Expenses $240.0K $20.00K
YoY Change 1100.0% -96.08%
Deferred Revenue
YoY Change
Short-Term Debt $34.77K $0.00
YoY Change
Long-Term Debt Due $30.00K
YoY Change
Total Short-Term Liabilities $630.0K $390.0K
YoY Change 61.54% -55.17%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $4.280M
YoY Change -100.0% 21300.0%
Other Long-Term Liabilities $0.00 $60.00K
YoY Change -100.0% 100.0%
Total Long-Term Liabilities $146.6K $4.340M
YoY Change -96.62% 8580.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $630.0K $390.0K
Total Long-Term Liabilities $146.6K $4.340M
Total Liabilities $630.0K $4.760M
YoY Change -86.76% 418.16%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.413M $5.377M
YoY Change
Total Liabilities & Shareholders Equity $3.040M $10.14M
YoY Change -70.02% 461.41%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$551.1K -$457.0K
YoY Change 20.58% 5024.67%
Depreciation, Depletion And Amortization $5.812K $16.69K
YoY Change -65.18% -24.65%
Cash From Operating Activities -$321.1K -$269.9K
YoY Change 18.98% 97.66%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$190.0K $150.0K
YoY Change -226.67% 150.0%
Cash From Investing Activities -$192.1K -$18.36K
YoY Change 946.23% -65.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $250.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 215.2K -18.36K
YoY Change -1272.4% -128.48%
NET CHANGE
Cash From Operating Activities -321.1K -269.9K
Cash From Investing Activities -192.1K -18.36K
Cash From Financing Activities 215.2K -18.36K
Net Change In Cash -297.9K -306.6K
YoY Change -2.82% 144.31%
FREE CASH FLOW
Cash From Operating Activities -$321.1K -$269.9K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="margin-bottom:0pt;margin-top: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:12pt;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;">We are not presently aware of any events or circumstances arising from the COVID-19 pandemic that would require us to update our estimates or judgments or revise the carrying value of our assets or liabilities. Our estimates may change, however, as new events occur and additional information is obtained, and any such changes will be recognized in the condensed consolidated financial statements.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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84.49
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
113.81
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3400
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3500
CY2020Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
14800
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0

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