$LMFA
LM FUNDING AMERICA, INC.

2020 Q3 Form 10-Q Financial Statement

#000156459020054189 Filed on November 16, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 Q2 2020 Q1
Revenue $252.5K $342.5K $341.2K
YoY Change -67.37% -59.22% -48.3%
Cost Of Revenue $390.0K $480.0K $510.0K
YoY Change 2.63% -7.69% 18.6%
Gross Profit -$130.0K -$140.0K -$170.0K
YoY Change -176.47% -207.69% -173.91%
Gross Profit Margin -51.49% -40.87% -49.82%
Selling, General & Admin $2.680M $74.73K $80.22K
YoY Change 2526.76% -40.86% -85.14%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $4.110K $5.812K
YoY Change -100.0% -25.62% -65.18%
% of Gross Profit
Operating Expenses $3.007M $774.8K $901.8K
YoY Change 227.1% -36.9% -8.45%
Operating Profit -$2.754M -$432.2K -$560.6K
YoY Change 651.49% 11.45% 74.58%
Interest Expense $0.00 $5.732K $6.894K
YoY Change -100.0% -89.13% 567.38%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$2.752M -$438.0K -$567.5K
YoY Change 618.08% -16.01% 77.35%
Income Tax
% Of Pretax Income
Net Earnings -$2.752M -$438.0K -$551.1K
YoY Change 884.01% -2.78% 20.58%
Net Earnings / Revenue -1089.87% -127.86% -161.52%
Basic Earnings Per Share -$1.41 -$0.56 -$0.85
Diluted Earnings Per Share -$1.41 -$0.56 -$0.85
COMMON SHARES
Basic Shares Outstanding 1.958M 783.4K 646.6K
Diluted Shares Outstanding 1.958M 783.4K 646.6K

Balance Sheet

Concept 2020 Q3 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.23M $6.240M $770.0K
YoY Change 332.16% 101.94% -77.22%
Cash & Equivalents $12.23M $6.289M $771.9K
Short-Term Investments
Other Short-Term Assets $220.0K $100.0K $120.0K
YoY Change -8.33% -9.09% -29.41%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $12.72M $6.650M $1.270M
YoY Change 310.32% 107.17% -64.23%
LONG-TERM ASSETS
Property, Plant & Equipment $190.0K $220.0K $240.0K
YoY Change 347.44% 625.4% 300.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $20.00K $10.00K $1.520M
YoY Change -33.33% -80.0% 2940.0%
Other Assets $10.00K $10.00K $10.00K
YoY Change 0.0% -75.0% -66.67%
Total Long-Term Assets $222.3K $230.0K $1.775M
YoY Change -96.58% -96.36% -73.06%
TOTAL ASSETS
Total Short-Term Assets $12.72M $6.650M $1.270M
Total Long-Term Assets $222.3K $230.0K $1.775M
Total Assets $12.94M $6.880M $3.043M
YoY Change 34.7% -27.76% -69.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $260.0K $170.0K $100.0K
YoY Change -27.78% 1600.0% 66.67%
Accrued Expenses $100.0K $100.0K $240.0K
YoY Change -65.52% 400.0% 1100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $34.77K
YoY Change
Long-Term Debt Due $0.00 $30.00K
YoY Change
Total Short-Term Liabilities $746.3K $400.0K $630.0K
YoY Change 14.82% 2.56% 61.54%
LONG-TERM LIABILITIES
Long-Term Debt $340.0K $190.0K $0.00
YoY Change -91.92% -95.39% -100.0%
Other Long-Term Liabilities $100.0K $120.0K $0.00
YoY Change 25.0% 71.43% -100.0%
Total Long-Term Liabilities $437.2K $310.0K $146.6K
YoY Change -89.81% -92.6% -96.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $746.3K $400.0K $630.0K
Total Long-Term Liabilities $437.2K $310.0K $146.6K
Total Liabilities $1.183M $710.0K $630.0K
YoY Change -76.11% -84.54% -86.76%
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 $11.76M $6.175M $2.413M
YoY Change
Total Liabilities & Shareholders Equity $12.94M $6.880M $3.040M
YoY Change 34.68% -27.76% -70.02%

Cashflow Statement

Concept 2020 Q3 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income -$2.752M -$438.0K -$551.1K
YoY Change 884.01% -2.78% 20.58%
Depreciation, Depletion And Amortization $0.00 $4.110K $5.812K
YoY Change -100.0% -25.62% -65.18%
Cash From Operating Activities -$2.310M -$170.0K -$321.1K
YoY Change 824.0% -56.41% 18.98%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $20.00K $1.530M -$190.0K
YoY Change -60.0% 992.86% -226.67%
Cash From Investing Activities $20.00K $1.530M -$192.1K
YoY Change -50.0% 992.86% 946.23%
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 8.300M 4.090M 215.2K
YoY Change -16700.0% -10325.0% -1272.4%
NET CHANGE
Cash From Operating Activities -2.310M -170.0K -321.1K
Cash From Investing Activities 20.00K 1.530M -192.1K
Cash From Financing Activities 8.300M 4.090M 215.2K
Net Change In Cash 6.010M 5.450M -297.9K
YoY Change -2411.54% -1979.31% -2.82%
FREE CASH FLOW
Cash From Operating Activities -$2.310M -$170.0K -$321.1K
Capital Expenditures $0.00
Free Cash Flow -$2.310M
YoY Change 862.5%

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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>
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