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v3.21.1

Summary of Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 2021
Accounting Policies [Abstract] |
Schedule of accounts receivable |
|  | March 31, 2021 |  |  | December 31, 2020 |
Accounts receivable |  | $ | 34,964,280 |  |  | $ | 32,171,255 |
Allowance for doubtful accounts |  |  | (23,935,726 | ) |  |  | (22,138,541 | )
Accounts receivable, net |  | $ | 11,028,554 |  |  | $ | 10,032,714 |
Schedule of allowance for doubtful accounts |
|  | Three Months Ended March 31, 2021 |  |  | Year Ended December 31, 2020 |
Beginning balance |  | $ | 22,138,541 |  |  | $ | 9,976,941 |
Provision |  |  | 8,833,349 |  |  |  | 31,930,714 |
Accounts written off |  |  | (7,036,164 | ) |  |  | (19,769,114 | )
Ending balance |  | $ | 23,935,726 |  |  | $ | 22,138,541 |
Schedule of net leased merchandise |
|  | March 31, 2021 |  |  | December 31, 2020 |
Lease merchandise at cost |  | $ | 63,998,340 |  |  | $ | 64,335,971 |
Accumulated depreciation |  |  | (22,294,987 | ) |  |  | (19,162,357 | )
Impairment reserve |  |  | (2,382,572 | ) |  |  | (2,351,274 | )
Lease merchandise, net |  | $ | 39,320,781 |  |  | $ | 42,822,340 |
Schedule of lease revenues and fees |
|  | Three Months ended |
|  | March 31, |
|  | 2021 |  |  | 2020 |
Lease billings and accruals |  | $ | 39,938,013 |  |  | $ | 31,380,632 |
Provision for doubtful accounts |  |  | 8,833,349 |  |  |  | 7,682,927 |
Lease revenues and fees |  | $ | 31,104,664 |  |  | $ | 23,697,705 |
Schedule of anti-dilutive securities excluded from computation of earnings per share |
|  | Three Months ended |
|  | March 31, |
|  | 2021 |  |  | 2020 |
Series 1 Convertible Preferred Stock |  |  | 225,231 |  |  |  | 226,366 |
Series 2 Convertible Preferred Stock |  |  | 5,845,695 |  |  |  | 5,845,695 |
Series 2 Convertible Preferred Stock issuable upon exercise of warrants |  |  | 116,903 |  |  |  | 116,903 |
Common Stock Options |  |  | 3,118,730 |  |  |  | 2,419,818 |
Common Stock Warrants |  |  | 2,232,488 |  |  |  | 1,752,488 |
|  |  | 11,539,047 |  |  |  | 10,361,270 |
Schedule of basic and diluted earnings per share |
|  | Three Months ended |
|  | March 31, |
|  | 2021 |  |  | 2020 |
Numerator |  |  |  |  |  |
Net income |  | $ | 1,237 |  |  | $ | 51,685 |
Convertible Series 2 Preferred Share dividends |  |  | (609,772 | ) |  |  | (609,717 | )
Deemed dividend from exchange offer of warrants |  |  | - |  |  |  | (713,212 | )
Numerator for basic and diluted EPS |  | $ | (608,535 | ) |  | $ | (1,271,244 | )
Denominator |  |  |  |  |  |  |  |
Denominator for basic and diluted EPS - weighted average shares |  |  | 21,369,904 |  |  |  | 19,903,435 |
Basic EPS |  | $ | (0.03 | ) |  | $ | (0.06 | )
Diluted EPS |  | $ | (0.03 | ) |  | $ | (0.06 | )

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