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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Schedule of accounts receivable
   December 31,
2021
   December 31,
2020
 
Accounts receivable  $57,602,269   $32,171,255 
Allowance for doubtful accounts   (27,703,278)   (22,138,541)
Accounts receivable, net  $29,898,991   $10,032,714 

 

Schedule of allowance for doubtful accounts
   December 31,
2021
   December 31,
2020
 
Beginning balance  $22,138,541   $9,976,941 
Provision   40,489,540    31,930,714 
Accounts written off   (34,924,803)   (19,769,114)
Ending balance  $27,703,278   $22,138,541 

 

Schedule of net leased merchandise
   December 31,
2021
   December 31,
2020
 
Lease merchandise at cost  $72,159,063   $64,335,971 
Accumulated depreciation   (29,505,431)   (19,162,357)
Impairment reserve   (1,711,520)   (2,351,274)
Lease merchandise, net  $40,942,112   $42,822,340 

 

Schedule of lease revenues and fees
    Year ended
December 31,
 
   2021   2020 
Lease billings and accruals  $158,844,724   $128,870,481 
Provision for doubtful accounts   (40,489,540)   (31,930,714)
Lease revenues and fees  $118,355,184   $96,939,767 

 

Schedule of anti-dilutive securities excluded from computation of earnings per share
   Year ended 
   December 31, 
   2021   2020 
Series 1 Convertible Preferred Stock   225,231    225,231 
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   3,080,904    2,595,700 
Common Stock Warrants   2,255,184    2,112,488 
    11,523,917    10,896,017 

 

Schedule of basic and diluted earnings per share
   Year ended 
   December 31, 
   2021   2020 
Numerator        
Net income/(loss)  $3,272,774    (339,896)
Convertible Series 2 Preferred Share dividends   (2,439,099)   (2,438,988)
Net income/(loss) attributable to common and Series 1 Convertible Preferred Stock   833,675    (2,778,884)
Deemed dividend from exchange offer of warrants   
-
    (713,212)
Convertible Series 2 Preferred Share dividends attributable to Series 1 Convertible Preferred Stock   25,418    
-
 
Net income attributable to Series 1 Convertible Preferred Stock   (34,106)   
-
 
Net income/(loss) attributable to common shares - Numerator for basic and diluted EPS  $824,987    (3,492,096)
Denominator          
Weighted average of common shares outstanding- Denominator for basic EPS   21,387,960    20,995,349 
Effect of dilutive securities:          
Common stock options   978,978    
-
 
Common stock warrants   861,026    
-
 
Denominator for diluted EPS – adjusted weighted average shares   23,227,964    20,995,349 
Basic EPS  $0.04    (0.17)
Diluted EPS  $0.04    (0.17)