XML 21 R4.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Revenues:    
Lease revenues and fees, net $ 96,939,767 $ 85,331,360
Lease merchandise sold 5,144,747 3,458,529
Total revenues 102,084,514 88,789,889
Costs and expenses:    
Cost of lease revenues, consisting of depreciation and impairment of lease merchandise 63,308,210 57,939,899
Cost of lease merchandise sold 3,424,880 2,282,036
Marketing 5,880,063 3,649,292
Salaries and benefits 10,440,693 8,469,334
Operating expenses 14,404,953 11,345,091
Total costs and expenses 97,458,799 83,685,652
Operating income 4,625,715 5,104,237
Interest expense including amortization of debt issuance costs 4,302,561 4,310,422
Income before income taxes 323,154 793,815
Provision for income taxes 663,050 216,400
Net (loss) / income (339,896) 577,415
Deemed dividend from exchange offer of warrants 713,212
Dividends on Series 2 Convertible Preferred Shares 2,438,988 2,437,884
Net loss attributable to common shareholders $ (3,492,096) $ (1,860,469)
Basic and diluted (loss) per common share:    
Basic and diluted $ (0.17) $ (0.11)
WEIGHTED AVERAGE COMMON SHARES:    
Basic and diluted 20,995,349 17,672,156