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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash $ 5,593,750 $ 4,413,130
Lease receivables, net 49,316,032 44,795,090
Loan receivables at fair value 39,457,230 35,794,290
Prepaid expenses and other assets 3,308,255 3,300,677
Lease merchandise, net 25,896,510 29,131,440
Total current assets 123,571,777 117,434,627
Property and equipment, net 9,588,238 9,308,859
Right of use asset, net 1,190,482 1,237,010
Intangible assets, net 12,948,971 13,391,305
Other assets, net 2,313,988 2,175,215
Deferred tax asset, net 13,000,294 12,943,361
Total assets 162,613,750 156,490,377
CURRENT LIABILITIES:    
Accounts payable 3,370,054 7,139,848
Accrued payroll and related taxes 700,208 578,197
Accrued expenses 4,498,602 3,972,397
Lease liability - current portion 253,936 245,052
Total current liabilities 9,021,198 12,134,118
Loan payable under credit agreement to beneficial shareholder, net of unamortized issuance costs of $1,500,000 at March 31, 2024 and $70,780 at December 31, 2023 105,566,690 96,384,220
Loan payable under Basepoint credit agreement, net of unamortized issuance costs of $83,347 at March 31, 2024 and $92,963 at December 31, 2023 7,329,258 7,319,641
Lease liabilities, net of current portion 1,254,239 1,321,578
Total liabilities 133,386,129 127,259,604
STOCKHOLDERS’ EQUITY    
Common stock, $0.0001 par value- authorized 40,000,000 shares, issued and outstanding 21,752,304 shares at March 31, 2024 and 21,752,304 shares at December 31, 2023 2,176 2,176
Treasury shares, at cost -169,447 shares at March 31,2024 and 164,029 shares at December 31, 2023 (172,855) (166,757)
Additional paid in capital 42,633,019 42,415,894
Accumulated deficit (36,038,379) (35,824,200)
Total stockholders’ equity 29,227,621 29,230,773
Total liabilities and stockholders' equity 162,613,750 156,490,377
Related Party    
CURRENT LIABILITIES:    
Promissory notes to related parties, including accrued interest 198,398 198,624
Promissory notes to related parties, net of unamortized issuance cost of $535,256 at March 31, 2024 and $649,953 at December 31, 202, and net of current portion 10,214,744 10,100,047
Series 1 Convertible Preferred Stock    
STOCKHOLDERS’ EQUITY    
Convertible preferred stock value 851,660 851,660
Series 2 Convertible Preferred Stock    
STOCKHOLDERS’ EQUITY    
Convertible preferred stock value $ 21,952,000 $ 21,952,000