v3.21.2
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Interest on delinquent association fees $ 62,673 $ 170,174 $ 140,117 $ 389,688
Administrative and late fees 16,861 35,423 31,932 58,468
Recoveries in excess of cost - special product 178,769 62,362 208,242 84,990
Underwriting and other revenues 35,494 41,235 58,197 69,164
Rental revenue 34,588 33,344 66,505 81,424
Total revenues 328,385 342,538 504,993 683,734
Operating Expenses:        
Professional fees 360,024 479,581 842,967 986,576
Settlement costs with associations       11,920
Selling, general and administrative 96,015 74,728 195,784 154,951
Recovery of cost from related party receivable (100,000) (100,000) (100,000) (200,000)
Provision for credit losses     (10,000)  
Real estate management and disposal 29,478 14,108 47,768 99,450
Depreciation and amortization 3,298 7,954 4,994 13,766
Collection costs 2,701 (20,934) 4,749 (29,255)
Other operating expenses 4,069 6,844 11,614 10,638
Total operating expenses 641,625 774,774 2,545,897 1,676,598
Operating loss from continuing operations (313,240) (432,236) (2,040,904) (992,864)
Realized gain on securities 8,453,570   14,125,034  
Unrealized gain on convertible debt security 2,501,600   2,501,600  
Unrealized gain on investment and equity securities 552,494   1,147,886  
Interest income 73,884   86,939  
Interest expense (189) (5,732) (653) (12,626)
Income (loss) from continuing operations before income taxes 11,268,119 (437,968) 15,819,902 (1,005,490)
Income tax expense (13,780)   (17,264)  
Net income (loss) from continuing operations 11,254,339 (437,968) 15,802,638 (1,005,490)
Gain from operations of discontinued operations       16,428
Net gain from discontinued operations       16,428
Net income (loss) 11,254,339 (437,968) 15,802,638 (989,062)
Less: Net income attributable to non-controlling interest (146,857)   (318,723)  
Net income (loss) attributable to LM Funding America Inc. $ 11,107,482 $ (437,968) $ 15,483,915 $ (989,062)
Earnings/(loss) per share:        
Basic income (loss) per common share - continuing operations $ 2.05 $ (0.56) $ 2.96 $ (1.41)
Basic income/(loss) per common share - discontinued operations       0.02
Basic income (loss) per common share - net income (loss) - attributable to LM Funding 2.05 (0.56) 2.96 (1.38)
Diluted income (loss) per common share - continuing operations 2.05 (0.56) 2.95 (1.41)
Diluted earnings/(loss) per common share - discontinued operations       0.02
Diluted income (loss) per common share - net income (loss) - attributable to LM Funding $ 2.05 $ (0.56) $ 2.95 $ (1.38)
Weighted average number of common shares outstanding:        
Basic 5,414,296 783,433 5,231,909 715,020
Diluted 5,423,162 783,433 5,245,656 715,020
Service [Member]        
Operating Expenses:        
Staff costs and payroll $ 246,040 $ 312,493 $ 1,548,021 $ 628,552

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