XML 19 R5.htm IDEA: XBRL DOCUMENT v3.24.1
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Revenues:    
Lease revenues and fees, net $ 91,943,729 $ 105,936,072
Loan revenues and fees, net of changes in fair value 25,031,278 7,120,101
Total revenues 116,975,007 113,056,173
Costs and expenses:    
Depreciation and impairment of lease merchandise 56,288,128 72,556,431
Loan origination costs and fees 6,007,598 3,384,013
Marketing 7,620,795 11,031,695
Salaries and benefits 12,499,099 10,991,477
Operating expenses 24,547,729 21,395,767
Net change in fair value of promissory note related to acquisition (3,678,689)
Total costs and expenses 103,284,660 119,359,383
Operating income/ (loss) 13,690,347 (6,303,210)
Gain on bargain purchase 14,461,274
Interest expense including amortization of debt issuance costs (18,913,773) (11,161,396)
Loss before income taxes (5,223,426) (3,003,332)
Benefit from income taxes 989,809 16,635,051
Net (loss)/ income (4,233,617) 13,631,719
Dividends on Series 2 Convertible Preferred Shares 4,103,638 3,730,580
Net (loss)/ income attributable to common and Series 1 Convertible Preferred shareholders $ (8,337,255) $ 9,901,139
Basic and diluted (loss)/ income per common share:    
Basic (in Dollars per share) $ (0.51) $ 0.45
Diluted (in Dollars per share) $ (0.51) $ 0.44
WEIGHTED AVERAGE COMMON SHARES:    
Basic (in Shares) 16,260,349 21,646,896
Diluted (in Shares) 16,260,349 22,425,354