$OMCC
OLD MARKET CAPITAL Corp

2019 Q3 Form 10-Q Financial Statement

#000156459019043374 Filed on November 14, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q1 2018 Q3
Revenue $15.59M $16.40M $19.40M
YoY Change -19.66% -17.42% -9.09%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.126M $8.840M $3.529M
YoY Change 16.92% 9.81% -56.22%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $80.00K $90.00K $100.0K
YoY Change -20.0% -18.18% -16.67%
% of Gross Profit
Operating Expenses $4.126M $20.10M $3.529M
YoY Change 16.92% 20.14% -80.74%
Operating Profit
YoY Change
Interest Expense $2.298M $2.275M $2.386M
YoY Change -3.69% -14.28% -2.33%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $360.0K -$5.977M $678.0K
YoY Change -46.9% -1363.64% 20.21%
Income Tax $92.00K -$1.232M $96.00K
% Of Pretax Income 25.56% 14.16%
Net Earnings $268.0K -$4.745M $582.0K
YoY Change -53.95% -836.8% 69.19%
Net Earnings / Revenue 1.72% -28.93% 3.0%
Basic Earnings Per Share $0.03 -$0.60 $0.07
Diluted Earnings Per Share $0.03 -$0.60 $0.07
COMMON SHARES
Basic Shares Outstanding 7.789M 7.713M
Diluted Shares Outstanding 7.790M 7.719M

Balance Sheet

Concept 2019 Q3 2019 Q1 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.700M $35.60M $2.800M
YoY Change 67.86% 1269.23% -24.32%
Cash & Equivalents $14.02M $37.64M $2.787M
Short-Term Investments
Other Short-Term Assets $3.200M $1.400M $1.100M
YoY Change 190.91% 55.56% 57.14%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $9.600M $38.70M $5.600M
YoY Change 71.43% 674.0% 12.0%
LONG-TERM ASSETS
Property, Plant & Equipment $551.0K $656.0K $700.0K
YoY Change -21.29% -22.18% -36.36%
Goodwill $350.0K
YoY Change
Intangibles $79.00K
YoY Change
Long-Term Investments
YoY Change
Other Assets $18.00M $11.10M $7.900M
YoY Change 127.85% 32.14% -35.25%
Total Long-Term Assets $218.3M $213.7M $244.8M
YoY Change -10.81% -22.52% -19.45%
TOTAL ASSETS
Total Short-Term Assets $9.600M $38.70M $5.600M
Total Long-Term Assets $218.3M $213.7M $244.8M
Total Assets $227.9M $252.4M $250.4M
YoY Change -8.97% -10.12% -18.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.400M $3.600M $4.300M
YoY Change 25.58% -28.0% -20.37%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $1.300M $1.400M
YoY Change -100.0% -23.53% -12.5%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.400M $4.900M $5.700M
YoY Change -5.26% -26.87% -18.57%
LONG-TERM LIABILITIES
Long-Term Debt $116.7M $145.0M $134.2M
YoY Change -13.04% -12.55% -28.62%
Other Long-Term Liabilities -$2.400M
YoY Change
Total Long-Term Liabilities $116.7M $142.6M $134.2M
YoY Change -13.04% -13.99% -29.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.400M $4.900M $5.700M
Total Long-Term Liabilities $116.7M $142.6M $134.2M
Total Liabilities $122.1M $147.5M $139.9M
YoY Change -12.71% -14.42% -29.49%
SHAREHOLDERS EQUITY
Retained Earnings $141.5M $140.7M
YoY Change -2.53%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $70.46M $70.46M
YoY Change 0.0%
Treasury Stock Shares $4.714M $4.714M
Shareholders Equity $105.8M $104.9M $110.5M
YoY Change
Total Liabilities & Shareholders Equity $227.9M $252.4M $250.4M
YoY Change -8.97% -10.12% -18.94%

Cashflow Statement

Concept 2019 Q3 2019 Q1 2018 Q3
OPERATING ACTIVITIES
Net Income $268.0K -$4.745M $582.0K
YoY Change -53.95% -836.8% 69.19%
Depreciation, Depletion And Amortization $80.00K $90.00K $100.0K
YoY Change -20.0% -18.18% -16.67%
Cash From Operating Activities $690.0K $1.710M $3.410M
YoY Change -79.77% -70.47% -46.13%
INVESTING ACTIVITIES
Capital Expenditures -$20.00K -$120.0K -$10.00K
YoY Change 100.0% -1300.0% -50.0%
Acquisitions
YoY Change
Other Investing Activities $8.910M $9.210M $12.76M
YoY Change -30.17% 43.68% 127.45%
Cash From Investing Activities $8.900M $9.090M $12.74M
YoY Change -30.14% 41.59% 127.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -30.09M 22.58M -18.35M
YoY Change 63.98% -278.22% 14.97%
NET CHANGE
Cash From Operating Activities 690.0K 1.710M 3.410M
Cash From Investing Activities 8.900M 9.090M 12.74M
Cash From Financing Activities -30.09M 22.58M -18.35M
Net Change In Cash -20.50M 33.38M -2.200M
YoY Change 831.82% -7356.52% -45.54%
FREE CASH FLOW
Cash From Operating Activities $690.0K $1.710M $3.410M
Capital Expenditures -$20.00K -$120.0K -$10.00K
Free Cash Flow $710.0K $1.830M $3.420M
YoY Change -79.24% -68.34% -46.14%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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nick Repossessed Assets Change In Fair Value
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nick Repossessed Assets Change In Fair Value
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nick Amortization Of Dealer Discount
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nick Amortization Of Dealer Discount
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nick Amortization Of Insurance And Fee Commissions
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nick Amortization Of Insurance And Fee Commissions
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nick Weighted Average Common Shares Outstanding Including Shares Considered Participating Securities
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us-gaap Prior Period Reclassification Adjustment Description
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<p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Reclassifications</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company made certain reclassifications from drafts payable to accounts payable and accrued expenses on the Consolidated Balance Sheets. A portion of net assets acquired from branches, primarily loans used in investing activities was reclassified to repossessed assets used in operating activities on the Consolidated Statements of Cash Flows. Originations of finance receivables were reclassed from the payments received the cashflows from financing activities to the purchases and originations of finance receivables. Net income and shareholders&#8217; equity were not changed.</p>
nick Accrual Of Interest Income On Finance Receivables Suspension Condition
AccrualOfInterestIncomeOnFinanceReceivablesSuspensionCondition
Accrual of interest income on finance receivables is suspended when a loan is contractually delinquent for 61 days or more, or the collateral is repossessed, whichever is earlier. The Company reverses the accrual of interest income when the loan is contractually delinquent 61 days or more.
CY2019Q3 nick Percentage Of Receivable Interest Discount
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CY2018Q3 nick Percentage Of Receivable Interest Discount
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us-gaap Preferred Stock Dividends And Other Adjustments
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7774000
nick Weighted Average Common Shares Outstanding Including Shares Considered Participating Securities
WeightedAverageCommonSharesOutstandingIncludingSharesConsideredParticipatingSecurities
7881000
CY2018Q3 nick Weighted Average Participating Securities Outstanding
WeightedAverageParticipatingSecuritiesOutstanding
61000
nick Weighted Average Participating Securities Outstanding
WeightedAverageParticipatingSecuritiesOutstanding
61000
nick Weighted Average Participating Securities Outstanding
WeightedAverageParticipatingSecuritiesOutstanding
65000
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7789000
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7713000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7820000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7794000
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
267000
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
577000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
853000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1985000
CY2019Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
267000
CY2018Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
577000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
853000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
1985000
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000
CY2018Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
6000
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7719000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7821000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7800000
nick Performing Account Criteria Maximum Period
PerformingAccountCriteriaMaximumPeriod
P61D
nick Percentage Of Payment Contractually For Delinquent
PercentageOfPaymentContractuallyForDelinquent
0.10
nick Non Performing Account Criteria Minimum Period
NonPerformingAccountCriteriaMinimumPeriod
P61D
CY2019Q3 nick Troubled Debt Restructurings Allowance For Credit Losses
TroubledDebtRestructuringsAllowanceForCreditLosses
232000000
CY2018Q3 nick Troubled Debt Restructurings Allowance For Credit Losses
TroubledDebtRestructuringsAllowanceForCreditLosses
771000000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
39832000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
79668000
CY2019Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
119500000
us-gaap Debt Instrument Covenant Description
DebtInstrumentCovenantDescription
The minimum interest coverage ratio to 0.44 to 1.0 for the measurement period ended on December 31, 2019, 0.2 to 1.0 for the measurement period ended January 31, 2019, and 1.0 to 1.0 for the measurement period ended February 28, 2019 and thereafter
CY2019Q1 us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
140000000
CY2019Q1 nick Minimum Interest Coverage Ratio
MinimumInterestCoverageRatio
0.002
CY2019Q1 nick Minimum Interest Coverage Ratio
MinimumInterestCoverageRatio
0.010
CY2019Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.256
CY2018Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.142
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.256
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.258
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2247000
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2200000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1076000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
890000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
408000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
40000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
8000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4140000
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1893000
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
456000
CY2019Q3 us-gaap Variable Lease Cost
VariableLeaseCost
113000
CY2019Q3 us-gaap Lease Cost
LeaseCost
569000
us-gaap Operating Lease Cost
OperatingLeaseCost
922000
us-gaap Variable Lease Cost
VariableLeaseCost
228000
us-gaap Lease Cost
LeaseCost
1150000
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
477000
CY2019Q3 nick Operating Lease Reduction Of Liability
OperatingLeaseReductionOfLiability
438000
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y1M6D
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.065
us-gaap Operating Lease Payments
OperatingLeasePayments
479000
nick Operating Lease Reduction Of Liability
OperatingLeaseReductionOfLiability
440000
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
0
CY2019Q1 nick Variable Interest Entity Monthly Servicing Fee Percent Of Outstanding Financed Receivables
VariableInterestEntityMonthlyServicingFeePercentOfOutstandingFinancedReceivables
0.025
CY2019Q3 nick Variable Interest Entity Recourse To Assets
VariableInterestEntityRecourseToAssets
0

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