XML 39 R22.htm IDEA: XBRL DOCUMENT
v3.20.4

Summary of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Accounting Policies [Abstract] |
Schedule of accounts receivable |
|  | December 31, 2020 |  |  | December 31, 2019 |
Accounts receivable |  | $ | 32,171,255 |  |  | $ | 18,249,273 |
Allowance for doubtful accounts |  |  | (22,138,541 | ) |  |  | (9,976,941 | )
Accounts receivable, net |  | $ | 10,032,714 |  |  | $ | 8,272,332 |
Schedule of allowance for doubtful accounts |
|  | December 31, 2020 |  |  | December 31, 2019 |
Beginning balance |  | $ | 9,976,941 |  |  | $ | 3,754,306 |
Provision |  |  | 31,930,714 |  |  |  | 34,838,046 |
Accounts written off |  |  | (19,769,114 | ) |  |  | (28,615,411 | )
Ending balance |  | $ | 22,138,541 |  |  | $ | 9,976,941 |
Schedule of net leased merchandise |
|  | December 31, 2020 |  |  | December 31, 2019 |
Lease merchandise at cost |  | $ | 64,335,971 |  |  | $ | 46,807,570 |
Accumulated depreciation |  |  | (19,162,357 | ) |  |  | (13,518,181 | )
Impairment reserve |  |  | (2,351,274 | ) |  |  | (2,226,285 | )
Lease merchandise, net |  | $ | 42,822,340 |  |  | $ | 31,063,104 |
Schedule of anti-dilutive securities excluded from computation of earnings per share |
|  | Year ended December 31, |
|  | 2020 |  |  | 2019 |
Series 1 Convertible Preferred Stock |  |  | 225,231 |  |  |  | 218,104 |
Series 2 Convertible Preferred Stock |  |  | 5,845,695 |  |  |  | 5,679,615 |
Series 2 Convertible Preferred Stock issuable upon exercise of warrants |  |  | 116,903 |  |  |  | 113,582 |
Common Stock Options |  |  | 2,595,700 |  |  |  | 2,004,318 |
Common Stock Warrants |  |  | 2,112,488 |  |  |  | 7,347,388 |
|  |  | 10,896,017 |  |  |  | 15,363,007 |
Schedule of basic and diluted earnings per share |
|  | December 31, |  |  | December 31, |
|  | 2020 |  |  | 2019 |
Numerator |  |  |  |  |  |
Net (loss)/ income |  | $ | (339,896 | ) |  | $ | 577,415 |
Convertible Series 2 Preferred Share dividends |  |  | (2,438,988 | ) |  |  | (2,437,884 | )
Deemed dividend from exchange offer of warrants (See Note 11) |  |  | (713,212 | ) |  |  | - |
Numerator for basic and diluted EPS |  | $ | (3,492,096 | ) |  | $ | (1,860,469 | )
Denominator |  |  |  |  |  |  |  |
Denominator for basic and diluted EPS - weighted average shares |  |  | 20,995,349 |  |  |  | 17,672,156 |
Basic EPS |  | $ | (0.17 | ) |  | $ | (0.11 | )
Diluted EPS |  | $ | (0.17 | ) |  | $ | (0.11 | )

X
- Definition Tabular disclosure of Lease merchandise. + References No definition available. + Details
Name: | fpay_LeaseMerchandiseTableTextBlock
Namespace Prefix: | fpay_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allowance for doubtful accounts. + References No definition available. + Details
Name: | fpay_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock
Namespace Prefix: | fpay_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration