$LMFA
LM FUNDING AMERICA, INC.

2021 Q1 Form 10-Q Financial Statement

#000156459021027828 Filed on May 14, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $176.6K $341.2K
YoY Change -48.24% -48.3%
Cost Of Revenue $480.0K $510.0K
YoY Change -5.88% 18.6%
Gross Profit $5.370M -$170.0K
YoY Change -3258.82% -173.91%
Gross Profit Margin 3040.63% -49.82%
Selling, General & Admin $99.77K $80.22K
YoY Change 24.36% -85.14%
% of Gross Profit 1.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.696K $5.812K
YoY Change -70.82% -65.18%
% of Gross Profit 0.03%
Operating Expenses $1.904M $901.8K
YoY Change 111.16% -8.45%
Operating Profit -$1.728M -$560.6K
YoY Change 208.17% 74.58%
Interest Expense $464.00 $6.894K
YoY Change -93.27% 567.38%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $4.552M -$567.5K
YoY Change -902.05% 77.35%
Income Tax $3.484K
% Of Pretax Income 0.08%
Net Earnings $4.376M -$551.1K
YoY Change -894.14% 20.58%
Net Earnings / Revenue 2478.05% -161.52%
Basic Earnings Per Share $0.87 -$0.85
Diluted Earnings Per Share $0.80 -$0.85
COMMON SHARES
Basic Shares Outstanding 5.047M 646.6K
Diluted Shares Outstanding 5.439M 646.6K

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.80M $770.0K
YoY Change 2211.69% -77.22%
Cash & Equivalents $17.80M $771.9K
Short-Term Investments
Other Short-Term Assets $210.0K $120.0K
YoY Change 75.0% -29.41%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $18.17M $1.270M
YoY Change 1330.77% -64.23%
LONG-TERM ASSETS
Property, Plant & Equipment $140.0K $240.0K
YoY Change -41.67% 300.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.789M $1.520M
YoY Change 17.72% 2940.0%
Other Assets $10.98K $10.00K
YoY Change 9.84% -66.67%
Total Long-Term Assets $8.269M $1.775M
YoY Change 365.85% -73.06%
TOTAL ASSETS
Total Short-Term Assets $18.17M $1.270M
Total Long-Term Assets $8.269M $1.775M
Total Assets $26.44M $3.043M
YoY Change 768.98% -69.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $230.0K $100.0K
YoY Change 130.0% 66.67%
Accrued Expenses $80.00K $240.0K
YoY Change -66.67% 1100.0%
Deferred Revenue
YoY Change
Short-Term Debt $38.05K $34.77K
YoY Change 9.44%
Long-Term Debt Due $30.00K
YoY Change
Total Short-Term Liabilities $620.0K $630.0K
YoY Change -1.59% 61.54%
LONG-TERM LIABILITIES
Long-Term Debt $190.0K $0.00
YoY Change -100.0%
Other Long-Term Liabilities $70.00K $0.00
YoY Change -100.0%
Total Long-Term Liabilities $260.0K $146.6K
YoY Change 77.3% -96.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $620.0K $630.0K
Total Long-Term Liabilities $260.0K $146.6K
Total Liabilities $1.060M $630.0K
YoY Change 68.25% -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 $25.38M $2.413M
YoY Change
Total Liabilities & Shareholders Equity $26.44M $3.040M
YoY Change 769.74% -70.02%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $4.376M -$551.1K
YoY Change -894.14% 20.58%
Depreciation, Depletion And Amortization $1.696K $5.812K
YoY Change -70.82% -65.18%
Cash From Operating Activities $4.971M -$321.1K
YoY Change -1648.12% 18.98%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$1.780M -$190.0K
YoY Change 836.84% -226.67%
Cash From Investing Activities -$7.454M -$192.1K
YoY Change 3780.83% 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 8.733M 215.2K
YoY Change 3957.46% -1272.4%
NET CHANGE
Cash From Operating Activities 4.971M -321.1K
Cash From Investing Activities -7.454M -192.1K
Cash From Financing Activities 8.733M 215.2K
Net Change In Cash 6.250M -297.9K
YoY Change -2197.82% -2.82%
FREE CASH FLOW
Cash From Operating Activities $4.971M -$321.1K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2021Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
124876
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
124876
CY2021Q1 lmfa Deferred Tax Assets Tax Step Up In Basis Purchase Of Noncontrolling Interest
DeferredTaxAssetsTaxStepUpInBasisPurchaseOfNoncontrollingInterest
48789
CY2020Q4 lmfa Deferred Tax Assets Tax Step Up In Basis Purchase Of Noncontrolling Interest
DeferredTaxAssetsTaxStepUpInBasisPurchaseOfNoncontrollingInterest
49950
CY2021Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses
33466
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses
33466
CY2020Q4 us-gaap Deferred Tax Liabilities Deferred Expense
DeferredTaxLiabilitiesDeferredExpense
20573
CY2021Q1 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
3547097
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
4653496
CY2021Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
3484
CY2021Q1 us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
1100000
CY2021Q1 us-gaap Deferred Taxes Business Combination Valuation Allowance Available To Reduce Income Tax Expense
DeferredTaxesBusinessCombinationValuationAllowanceAvailableToReduceIncomeTaxExpense
1100000
CY2021Q1 lmfa Lease Expiration Period
LeaseExpirationPeriod
P37M
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
18080
CY2021Q1 us-gaap Lease Cost
LeaseCost
24856
CY2020Q1 us-gaap Lease Cost
LeaseCost
18080
CY2021Q1 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
us-gaap:OperatingLeaseRightOfUseAsset
CY2020Q4 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
us-gaap:OperatingLeaseRightOfUseAsset
CY2021Q1 lmfa Current Lease Liabilities
CurrentLeaseLiabilities
78675
CY2020Q4 lmfa Current Lease Liabilities
CurrentLeaseLiabilities
103646
CY2020Q4 us-gaap Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
us-gaap:OperatingLeaseLiability
CY2021Q1 lmfa Long Term Lease Liabilities
LongTermLeaseLiabilities
68002
CY2020Q4 lmfa Long Term Lease Liabilities
LongTermLeaseLiabilities
68002
CY2021Q1 us-gaap Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List
OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
us-gaap:OperatingLeaseLiability
CY2020Q4 us-gaap Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List
OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
us-gaap:OperatingLeaseLiability
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
146677
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
171648
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y3M29D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y7M6D
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0655
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
68002
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
146677
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3860
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
CY2021Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2021Q1 lmfa Share Based Compensation Arrangement By Share Based Payment Award Options Adjustments In Period Adjustment
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdjustmentsInPeriodAdjustment
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3860
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3193
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
302.55
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2021Q1 lmfa Share Based Compensation Arrangements By Share Based Payment Award Options Adjustments In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsAdjustmentsInPeriodWeightedAverageExercisePrice
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
302.55
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
320.00
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3860
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
CY2020Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2020Q1 lmfa Share Based Compensation Arrangement By Share Based Payment Award Options Adjustments In Period Adjustment
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdjustmentsInPeriodAdjustment
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3860
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2360
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
302.55
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2020Q1 lmfa Share Based Compensation Arrangements By Share Based Payment Award Options Adjustments In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsAdjustmentsInPeriodWeightedAverageExercisePrice
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
302.55
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
422.45
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
2718012
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
771857
CY2021Q1 lmfa Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercised In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedInPeriod
2326112
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
391900
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
771857
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
4.20
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
27.25
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
CY2021Q1 lmfa Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercised In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedInPeriodWeightedAverageGrantDateFairValue
4.08
CY2020Q1 lmfa Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercised In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedInPeriodWeightedAverageGrantDateFairValue
0
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
0
CY2021Q1 lmfa Gain Loss On Loan Agreement
GainLossOnLoanAgreement
5700000
CY2021Q1 lmfa Amount Of Loans Receivables Acquired
AmountOfLoansReceivablesAcquired
18000000
CY2021Q1 lmfa Cost Associated With Acquisition Of Receivables Loan
CostAssociatedWithAcquisitionOfReceivablesLoan
15500000
CY2021Q1 lmfa Proceeds From Sale Of Own Shares
ProceedsFromSaleOfOwnShares
32600000
CY2021Q1 lmfa Provision For Investor
ProvisionForInvestor
11300000
CY2020Q2 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
On May 11, 2020, our shareholders voted in favor of the approval of an amendment to our Certificate of Incorporation, in the event it is deemed advisable by our Board of Directors, to effect an additional reverse stock split of the Company’s issued and outstanding common stock at a ratio within the range of one-for-two (1:2) and one-for-ten (1:10), as determined by the Board of Directors
CY2021Q2 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
one-for-five
CY2021Q2 lmfa Reverse Stock Split Percentage Of Outstanding Common Stock
ReverseStockSplitPercentageOfOutstandingCommonStock
0.2

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