XML 15 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Operations (unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Lease revenues and fees, net $ 28,636,794 $ 22,900,280 $ 59,741,458 $ 46,597,985
Lease merchandise sold 2,051,759 1,629,850 3,730,765 2,774,892
Total revenues 30,688,553 24,530,130 63,472,223 49,372,877
Costs and expenses:        
Cost of lease revenues, consisting of depreciation and impairment of lease merchandise 17,864,471 15,898,255 39,064,981 32,095,204
Cost of lease merchandise sold 1,738,180 1,291,090 3,064,623 1,921,871
Marketing 1,914,095 938,049 3,746,835 1,969,194
Salaries and benefits 2,747,005 2,276,516 5,656,324 4,825,385
Operating expenses 5,213,789 3,337,162 9,328,213 6,508,853
Total costs and expenses 29,477,540 23,741,072 60,860,976 47,320,507
Operating income 1,211,013 789,058 2,611,247 2,052,370
Gain on extinguishment of debt 1,931,825 1,931,825
Interest expense including amortization of debt issuance costs (1,222,400) (1,051,120) (2,621,397) (2,262,747)
Income before income taxes 1,920,438 (262,062) 1,921,675 (210,377)
Provision for income taxes (978,244) (978,244)
Net income/(loss) 942,194 (262,062) 943,431 (210,377)
Deemed dividend from exchange offer of warrants (713,212)
Dividends on Series 2 Convertible Preferred Shares (609,773) (609,728) (1,219,545) (1,219,445)
Net income/(loss) attributable to common and Series 1 Convertible Preferred shareholders $ 332,421 $ (871,790) $ (276,114) $ (2,143,034)
Basic and diluted income/(loss) per common share:        
Basic (in Dollars per share) $ 0.02 $ (0.04) $ (0.01) $ (0.10)
Diluted (in Dollars per share) $ 0.01 $ (0.04) $ (0.01) $ (0.10)
WEIGHTED AVERAGE COMMON SHARES:        
Basic (in Shares) 21,605,461 21,351,914 21,375,096 20,627,674
Diluted (in Shares) 23,603,477 21,351,914 21,375,096 20,627,674