Discontinued Operations (Notes)

9 Months Ended

Dec. 31, 2017

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

NOTE 2 – DISCONTINUED OPERATIONS

As previously disclosed, the Company sold all of the issued and outstanding capital stock and equity interest of WAC de Mexico and SWAC to the Purchasers, effective as of July 1, 2018, for a purchase price of approximately $44.36 million. The Company has provided, and may continue to provide, limited ParaData systems and software training to the Purchasers, as requested. The Company has not and will not have any other involvement with the Mexico operating segment subsequent to the sale's effective date.

The following table reconciles the major classes of assets and liabilities of discontinued operations to the amounts presented in the Consolidated Balance Sheet for March 31, 2018:



	March 31, 2018
Assets of discontinued operations:
Cash and cash equivalents	$	19,612,471
Loans receivable, net	46,027,200
Property and equipment, net	2,805,467
Deferred income taxes, net	10,064,489
Other assets, net	965,770
Total assets of discontinued operations	$	79,475,397

Liabilities of discontinued operations:
Income taxes payable	437,551
Accounts payable and accrued expenses	6,940,880
Total liabilities of discontinued operations	$	7,378,431

The following table reconciles the major classes of line items constituting pre-tax income (loss) of discontinued operations to the amounts presented in the Consolidated Statements of Operations:



	Three months ended December 31,			Nine months ended December 31,
	2018	2017		2018		2017

Revenues	—	11,231,128		9,693,367		35,578,665
Provision for loan losses	—	3,299,392		1,809,059		12,581,397
General and administrative expenses	—	8,036,683		5,542,483		22,886,925
Income from discontinued operations before disposal of discontinued operations and income taxes	—	(104,947	)	2,341,825		110,343
Gain (loss) on disposal of discontinued operations	—	—		(38,377,623	)	—
Income taxes (benefit)	—	(1,591,761	)	626,583		(999,436	)
Income (loss) from discontinued operations	—	1,486,814		(36,662,381	)	1,109,779

The following table presents operating, investing and financing cash flows for the Company’s discontinued operations:



	Nine months ended December 31,
	2018			2017

Cash provided by operating activities:	$	3,553,854		$	15,224,142
Cash provided by (used in) investing activities:	1,138,084			(5,511,573		)
Cash provided by (used in) financing activities:	$	(17,126,000	)	$	—