XML 13 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Interest on delinquent association fees $ 112,140 $ 62,673 $ 213,408 $ 140,117
Administrative and late fees 19,698 16,861 36,406 31,932
Recoveries in excess of cost - special product 35,990 178,769 53,355 208,242
Underwriting and other revenues 26,125 35,494 42,916 58,197
Rental revenue 40,580 34,588 79,452 66,505
Total revenues 234,533 328,385 425,537 504,993
Operating Expenses:        
Professional fees 1,031,431 360,024 1,806,251 842,967
Settlement costs with associations     160  
Selling, general and administrative 122,271 96,015 237,191 195,784
Recovery of cost from related party receivable   (100,000)   (100,000)
Provision for credit losses 500   500 (10,000)
Real estate management and disposal 22,414 29,478 53,895 47,768
Depreciation and amortization 2,007 3,298 5,101 4,994
Collection costs (7,906) 2,701 (11,726) 4,749
Other operating expenses 141,009 4,069 149,393 11,614
Total operating expenses 5,608,421 641,625 10,829,657 2,545,897
Operating loss (5,373,888) (313,240) (10,404,120) (2,040,904)
Realized gain (loss) on securities 45,261 8,453,570 (349,920) 14,125,034
Realized gain on convertible debt securities 287,778   287,778  
Unrealized gain (loss) on convertible debt security (288,320) 2,501,600   2,501,600
Unrealized loss on marketable securities (24,030)   (23,900)  
Impairment loss on digital assets (377,707)   (377,707)  
Unrealized gain on investment and equity securities 12,215,401 552,494 11,229,002 1,147,886
Digital assets other income 1,292   5,658  
Interest income 80,975 73,884 179,345 86,939
Interest expense   (189)   (653)
Dividend income 1,375   2,750  
Income before income taxes 6,568,137 11,268,119 548,886 15,819,902
Income tax expense   (13,780)   (17,264)
Net income 6,568,137 11,254,339 548,886 15,802,638
Less: Net income attributable to non-controlling interest (3,723,797) (146,857) (3,432,597) (318,723)
Net income (loss) attributable to LM Funding America Inc. $ 2,844,340 $ 11,107,482 $ (2,883,711) $ 15,483,915
Earnings/(loss) per share:        
Basic income (loss) per common share - net income (loss) - attributable to LM Funding $ 0.22 $ 2.05 $ (0.22) $ 2.96
Diluted income (loss) per common share - net income (loss) - attributable to LM Funding $ 0.22 $ 2.05 $ (0.22) $ 2.95
Weighted average number of common shares outstanding:        
Basic 13,091,882 5,414,296 13,076,359 5,231,909
Diluted 13,091,882 5,423,162 13,076,359 5,245,656
Service [Member]        
Operating Expenses:        
Staff costs and payroll $ 4,296,695 $ 246,040 $ 8,588,892 $ 1,548,021