v3.22.2.2
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Interest on delinquent association fees $ 57,585 $ 129,439 $ 270,993 $ 269,556
Administrative and late fees 14,717 14,642 51,123 46,574
Recoveries in excess of cost - special product 20,171 14,000 73,526 61,052
Underwriting and other revenues 12,362 28,784 55,278 86,981
Rental revenue 40,788 36,759 120,240 103,264
Digital mining revenues, net 42,157   42,157  
Total revenues 187,780 223,624 613,317 567,427
Operating costs and expenses:        
Digital mining cost of revenues (exclusive of depreciation and amortization shown below) 38,960   38,960  
Professional fees 714,730 497,942 2,520,981 1,340,909
Settlement costs with associations     160  
Selling, general and administrative 209,328 106,895 446,519 302,679
Provision for credit losses     500 (10,000)
Recovery of cost from related party receivable   (100,000)   (200,000)
Real estate management and disposal 22,558 29,878 76,453 77,646
Depreciation and amortization 38,617 4,482 43,718 9,476
Collection costs 5,037 (1,410) (6,689) 3,339
Other operating expenses 124,405 5,801 273,798 17,415
Total operating expenses 5,451,175 2,418,386 16,280,832 4,964,283
Operating loss (5,263,395) (2,194,762) (15,667,515) (4,396,856)
Realized gain (loss) on securities   (173,282) (349,920) (13,951,752)
Realized gain on convertible debt securities     287,778  
Unrealized loss on convertible debt security   (2,588,916)   (87,316)
Unrealized loss on marketable securities (13,000) (478,448) (36,900) (478,448)
Impairment loss on digital assets (26,634) (23,720) (404,341) (23,720)
Unrealized gain (loss) on investment and equity securities (194,174) (123,172) 11,034,828 1,024,714
Digital assets other income     5,658  
Interest income 85,602 77,956 264,947 164,895
Interest expense   (3,939)   (653)
Dividend income 1,125 738 3,875 738
Gain on forgiveness of note payable       157,251
Income (loss) before income taxes (5,410,476) (5,507,545) (4,861,590) 10,312,357
Income tax expense (1,311,678) (12,619) (1,311,678) (29,883)
Net income (loss) (6,722,154) (5,520,164) (6,173,268) 10,282,474
Less: Net (income) loss attributable to non-controlling interest 59,298 33,953 (3,373,299) (284,770)
Net income (loss) attributable to LM Funding America Inc. $ (6,662,856) $ (5,486,211) $ (9,546,567) $ 9,997,704
Earnings/(loss) per share:        
Basic income (loss) per common share - net income (loss) - attributable to LM Funding $ (0.51) $ (1.01) $ (0.73) $ 1.89
Diluted income (loss) per common share - net income (loss) - attributable to LM Funding $ (0.51) $ (1.01) $ (0.73) $ 1.88
Weighted average number of common shares outstanding:        
Basic 13,091,883 5,414,296 13,081,591 5,293,375
Diluted 13,091,883 5,421,606 13,081,591 5,305,418
Service [Member]        
Operating costs and expenses:        
Staff costs and payroll $ 4,297,540 $ 1,874,798 $ 12,886,432 $ 3,422,819

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