Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Acquisition - Summary of Results of Operations for IIU (Details)

v3.19.3
Goodwill and Acquisition - Summary of Results of Operations for IIU (Details) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Business Acquisition [Line Items]        
Revenues: $ 773,748 $ 781,510 $ 2,376,468 $ 2,623,229
Net commission revenue 221,085   501,244  
Operating Expenses: 1,020,211 990,927 3,459,979 2,696,748
Operating income (loss) (246,463) (209,417) (1,083,511) (73,519)
Gain on disposal of assets 6,421   6,421  
Gain on litigation       405,000
Interest expense 39,605 377,387 110,078 471,963
Income (loss) before income taxes (279,647) (586,804) (1,187,168) (140,482)
Net income (loss) $ (279,647) $ (586,804) $ (1,187,168) $ (140,482)
Income (loss) per share:        
Basic $ (0.09) $ (0.94) $ (0.38) $ (0.22)
Diluted $ (0.09) $ (0.94) $ (0.38) $ (0.22)
Weighted average number of common shares outstanding:        
Basic 3,134,160 625,318 3,133,495 625,318
Diluted 3,134,160 625,318 3,133,495 625,318
LM Funding and IIU Inc. [Member]        
Business Acquisition [Line Items]        
Revenues: $ 773,748 $ 960,319 $ 2,391,036 $ 3,142,392
Net commission revenue 773,748 960,319 2,391,036 3,142,392
Operating Expenses: 1,020,211 1,089,936 3,473,097 3,071,010
Operating income (loss) (246,463) (129,617) (1,082,061) 71,382
Gain on disposal of assets (6,421)   (6,421)  
Gain on litigation       (405,000)
Investment income   (1,019)   (33,687)
Interest expense 39,605 388,982 110,078 483,558
Income (loss) before income taxes (279,647) (517,580) (1,185,718) 26,511
Income tax benefit     (14,226)  
Net income (loss) $ (279,647) $ (517,580) $ (1,171,492) $ 26,511
Income (loss) per share:        
Basic $ (0.09) $ (0.83) $ (0.37) $ 0.04
Diluted $ (0.09) $ (0.83) $ (0.37) $ 0.04
Weighted average number of common shares outstanding:        
Basic 3,134,160 625,318 3,133,495 625,318
Diluted 3,134,160 625,318 3,133,495 625,318