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Consolidated Statements of Cash Flows (unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income/(loss) $ 943,431 $ (210,377)
Adjustments to reconcile net income/(loss) to net used in/cash provided by operating activities:    
Depreciation and impairment of lease merchandise 39,064,981 32,095,204
Other depreciation and amortization 1,324,049 1,062,139
Amortization of debt issuance costs 134,580 184,233
Compensation expense related to issuance of stock options and warrants 1,034,334 763,328
Provision for doubtful accounts 18,804,705 15,564,198
Interest in kind added to promissory notes balance 9,461 2,989
Deferred income tax 378,859  
Gain on debt extinguishment (1,931,825)
Accounts receivable (21,922,656) (15,261,863)
Prepaid expenses and other (174,222) 81,916
Lease merchandise (33,875,960) (27,113,342)
Security deposits 4,280 2,943
Lease Liabilities (2,598) 197,443
Accounts payable (4,105,547) (1,488,607)
Accrued payroll and related taxes 438,010 84,922
Accrued expenses (158,248) (170,185)
Net cash used in/provided by operating activities (34,366) 5,794,941
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment, including capitalized software costs (1,367,154) (1,399,360)
Net cash used in investing activities (1,367,154) (1,399,360)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from loan payable under credit agreement 3,500,000 2,412,000
Repayment of loan payable under credit agreement (4,975,000) (5,864,250)
Debt issuance related costs (526,565)
Proceeds from exercise of warrants 131,250
Proceeds from exercise of stock options 17,126 2,634
Proceeds from promissory notes, net of fees 1,914,100
Principal payment under finance lease obligation (2,457) (3,175)
Repayment of instalment loan (5,603) (5,603)
Net cash used in financing activities (1,992,499) (1,413,044)
INCREASE/(DECREASE) IN CASH (3,394,019) 2,982,537
CASH, beginning of period 8,541,232 6,868,472
CASH, end of period 5,147,213 9,851,009
Supplemental cash flow information:    
Interest paid 2,506,589 2,120,502
Deemed dividend from exchange offer of warrants 713,212
Conversion of preferred stock to common stock $ 4,295