LM Funding America, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

The following table presents components of lease expense excluding discontinued operations for the three months ended March 31, 2020 and 2019:

Three Months

Ended

March 31,

2020

Three Months

Ended

March 31,

2019

Operating lease expense

18,080

40,042

18,080

40,042

Summary of Supplemental Balance Sheet Information Related to Operating Leases

The following table presents supplemental balance sheet information related to operating leases as of March 31, 2020 and December 31, 2019:

	Balance Sheet Line Item	As of March 31, 2020			As of December 31, 2019
Assets
ROU assets	Right of use asset, net	$	235,167		$	260,260
Total lease assets		$	235,167		$	260,260

Liabilities
Current lease liabilities	Lease liability	$	96,552		$	94,235
Long-term lease liabilities	Lease liability		146,647			171,648
Total lease liabilities		$	243,199		$	265,883

Weighted-average remaining lease term (in years)			2.38			2.60
Weighted-average discount rate			6.55	%		6.55	%

Summary of Supplemental Cash Flow Information and Non-cash Activity Related to Operating Leases

The following table presents supplemental cash flow information and non-cash activity related to operating leases for the three months ended March 31, 2020 and 2019:

	Three Months Ended March 31, 2020			Three Months Ended March 31, 2019
Operating cash flow information
Cash paid for amounts included in the measurement of lease liabilities	$	(22,684	)	$	(2,191	)
Supplemental Disclosure of non-cashflow information
ROU assets and operating lease obligation recognized	$	-		$	26,685.00

Schedule of Future Minimum Lease Payment Due

The following table presents maturities of operating lease liabilities on an undiscounted basis as of March 31, 2020:


	Operating Leases
2020 (excluding the three months ended March 31, 2020)	$	71,551
2021		103,646
2022		68,002
	$	243,199