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Consolidated Statements of Operations (unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Lease revenues and fees, net $ 22,900,280 $ 19,901,156 $ 46,597,985 $ 41,685,935
Lease merchandise sold 1,629,850 763,184 2,774,892 1,709,802
Total revenues 24,530,130 20,664,340 49,372,877 43,395,737
Costs and expenses:        
Cost of lease revenues, consisting of depreciation and impairment of lease merchandise 15,898,255 14,260,308 32,095,204 29,538,247
Cost of lease merchandise sold 1,291,090 498,838 1,921,871 1,063,845
Marketing 938,049 314,229 1,969,194 1,162,775
Salaries and benefits 2,276,516 2,037,081 4,825,385 3,795,168
Operating expenses 3,337,162 2,841,846 6,508,853 5,438,128
Total costs and expenses 23,741,072 19,952,302 47,320,507 40,998,163
Operating income 789,058 712,038 2,052,370 2,397,574
Interest expense including amortization of debt issuance costs 1,051,120 1,021,984 2,262,747 2,203,977
Net (loss)/ income (262,062) (309,946) (210,377) 193,597
Deemed dividend from exchange offer of warrants 713,212
Dividends on Series 2 Convertible Preferred Shares 609,728 609,282 1,219,445 1,218,450
Net loss attributable to common shareholders $ (871,790) $ (919,228) $ (2,143,034) $ (1,024,853)
Basic and diluted loss per common share:        
Basic and diluted $ (0.04) $ (0.05) $ (0.1) $ (0.06)
WEIGHTED AVERAGE COMMON SHARES:        
Basic and diluted 21,351,914 17,666,193 20,627,674 17,658,562