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Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash $ 6,868,472 $ 6,141,210
Accounts receivable, net 8,272,332 6,375,963
Prepaid expenses 672,242 317,160
Lease merchandise, net 31,063,104 32,364,697
Total current assets 46,876,150 45,199,030
PROPERTY AND EQUIPMENT, net 5,260,407 3,336,664
OTHER ASSETS, net 78,335 90,621
Total assets 52,214,892 48,626,315
CURRENT LIABILITIES:    
Current portion of loan payable under credit agreement to beneficial shareholder, net of $0 at 2019 and $167,483 at 2018 of unamortized issuance costs 14,252,717
Accounts payable 4,567,889 8,317,216
Accrued payroll and related taxes 513,267 393,095
Promissory notes to related parties, net of $5,333 at 2019 and $0 at 2018 of unamortized issuance costs, including accrued interest 1,067,740 1,814,771
Accrued expenses 1,372,901 1,335,505
Lease liability - current portion 27,726
Total current liabilities 7,549,523 26,113,304
Loan payable under credit agreement to beneficial shareholder, net of $281,138 at 2019 and $164,752 at 2018 of unamortized issuance costs and current portion 28,904,738 14,020,335
Promissory notes to related parties, net of $24,828 at 2019 and $0 at 2018 of unamortized issuance costs and current portion 3,725,172
Lease liabilities less current portion 2,067,184
Total liabilities 42,246,617 40,133,639
STOCKHOLDERS' EQUITY    
Preferred Stock authorized 500,000 shares, $0.001 par value
Series 1 Convertible Preferred Stock, $0.001 par value - designated 250,000 shares, issued and outstanding 171,191 shares at 2019 and 239,405 shares at 2018 at $5.00 stated value 855,955 1,197,025
Series 2 Convertible Preferred Stock, $0.001 par value - designated 25,000 shares, issued and outstanding 21,952 shares at $1,000 stated value 21,952,000 21,952,000
Common stock, $0.0001 par value- authorized 40,000,000 shares, issued and outstanding 17,783,960 shares at 2019 and 17,579,870 shares at 2018 1,779 1,758
Additional paid in capital 35,313,721 34,074,488
Accumulated deficit (48,155,180) (48,732,595)
Total stockholders' equity 9,968,275 8,492,676
Total liabilities and stockholders' equity $ 52,214,892 $ 48,626,315