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, 2021

Commitments And Contingencies Disclosure [Abstract]

The following table presents components of lease expense excluding discontinued operations for the Three Months ended March 31, 2021 and 2020:

Three Months

Ended

March 31,

2021

Three Months

Ended

March 31,

2020

Operating lease expense

24,856

18,080

24,856

18,080

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, 2021 and December 31, 2020:

	Balance Sheet Line Item	As of March 31, 2021			As of December 31, 2020
Assets
ROU assets	Right of use asset, net	$	134,859		$	160,667
Total lease assets		$	134,859		$	160,667

Liabilities
Current lease liabilities	Lease liability	$	78,675		$	103,646
Long-term lease liabilities	Lease liability		68,002			68,002
Total lease liabilities		$	146,677		$	171,648

Weighted-average remaining lease term (in years)			1.33			1.60
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, 2021 and 2020:

	Three Months Ended March 31, 2021			Three Months Ended March 31, 2020
Operating cash flow information
Cash paid for amounts included in the measurement of lease liabilities	$	(24,971	)	$	(22,684	)

Schedule of Future Minimum Lease Payment Due

The following table presents maturities of operating lease liabilities on an undiscounted basis as of March 31, 2021:


	Operating Leases
2021 (excluding the three months ended March 31, 2021)	$	78,675
2022		68,002
2023		-
	$	146,677