Flexshopper, inc. (FPAY)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Revenues:
Lease revenues and fees, net

23,697

21,378

22,267

19,901

21,784

17,343

14,609

13,104

14,161

15,954

16,144

16,363

16,950

14,007

12,072

10,512

9,920

7,004

5,298

4,221

3,606

2,254

1,346

569

99

0

0

0

0

-

-

-

-

-

-

-

-

-

-

Lease merchandise sold

1,145

1,083

665

763

946

677

490

487

614

459

359

324

490

318

255

218

273

156

107

119

165

353

266

119

4

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Total revenues

24,842

22,461

22,932

20,664

22,731

18,020

15,099

13,592

14,776

-

16,503

16,687

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net revenues

-

-

-

-

-

-

-

-

-

-

-

-

17,441

-

12,327

10,731

10,193

7,161

5,406

4,340

3,771

2,607

1,613

689

103

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Costs and expenses:
Cost of lease revenues, consisting of depreciation and impairment of lease merchandise

16,196

14,152

14,248

14,260

15,277

10,954

10,289

8,987

10,407

6,719

8,146

8,126

8,460

5,917

5,525

5,601

5,689

3,634

2,759

2,175

2,182

1,411

874

396

48

0

0

0

0

-

-

-

-

-

-

-

-

-

-

Cost of lease merchandise sold

630

760

457

498

565

415

349

324

333

182

280

226

309

189

182

138

176

85

57

62

108

266

222

107

3

0

0

0

0

-

-

-

-

-

-

-

-

-

-

Provision for doubtful accounts

-

-

-

-

-

-

-

-

-

4,777

4,681

4,759

4,915

4,020

3,501

3,194

2,564

1,923

1,672

1,228

822

787

451

132

9

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Marketing

1,031

1,618

868

314

848

3,021

1,596

1,260

1,168

3,468

994

818

812

4,006

2,442

2,269

1,474

-

924

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Salaries and benefits

2,548

2,484

2,189

2,037

1,758

2,398

2,186

2,031

2,179

2,295

1,900

1,898

1,768

1,648

1,522

1,444

1,330

-

1,098

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating expenses

-3,171

-3,188

-2,718

-2,841

-2,596

-2,598

-2,206

-1,918

-2,038

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other operating expenses

-

-

-

-

-

-

-

-

-

-

-

-

1,673

1,557

1,307

1,119

1,080

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

FINANCE REVENUES

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

594

677

712

542

524

561

731

587

672

648

INTEREST EXPENSE - financial institution

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

101

118

143

90

105

107

138

148

186

174

INTEREST EXPENSE - related parties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11

4

-

0

0

14

2

67

50

NET FINANCE REVENUES

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

492

547

565

452

418

453

578

436

417

423

PROVISION FOR CREDIT LOSSES, net of recoveries

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12

43

-14

0

13

-1

0

-0

-

-

(PROVISION) BENEFIT FOR CREDIT LOSSES

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0

-0

FINANCE REVENUES, NET OF INTEREST EXPENSE AND CREDIT LOSSES

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

480

503

579

452

405

455

578

436

417

422

Operating expenses

-

-

-

-

-

-

-

-

-

-

1,723

1,869

-

-

-

-

-

-

755

2,561

2,094

1,682

1,194

1,050

1,244

-

-

-

-

417

392

410

415

382

393

405

415

365

430

Total costs and expenses

23,579

22,204

20,482

19,952

21,045

19,387

16,628

14,522

16,128

19,842

17,727

17,698

17,940

17,340

14,482

13,768

12,317

10,178

7,268

6,028

5,208

4,148

2,742

1,686

1,305

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating income

1,263

256

2,449

712

1,685

-1,367

-1,528

-929

-1,352

-3,429

-1,223

-1,011

-498

-3,014

-2,154

-3,036

-2,123

-3,017

-1,862

-1,687

-1,436

-1,540

-1,129

-997

-1,201

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on extinguishment of debt

-

-

-

-

-

-

-126

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest expense including amortization of debt issuance costs

1,211

1,044

1,061

1,021

1,181

1,115

1,061

1,045

933

556

504

551

555

479

459

495

490

421

287

207

77

7

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Income

51

-

-

-

503

-

-

-

-

-

-

-

-

-

-

-

-

-3,439

-2,149

-1,894

-1,514

-1,547

-1,129

-997

-1,201

-

-

-

-

62

111

168

36

23

61

173

21

51

-

Cost of revenue, Total

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

GROSS PROFIT

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

GENERAL AND ADMINISTRATIVE EXPENSES

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7

Provision for income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-32

-45

-96

-52

-212

-96

-

0

0

0

0

0

0

0

0

0

0

0

0

0

Loss from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,439

-2,149

-1,861

-1,468

-1,450

-1,077

-784

-1,104

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from discontinued operations consisting of gain from sale of discontinued operations, net of income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

53

74

85

85

358

157

-

-

-

-

-

-

-

-

-

-

-

-

-

-

LOSS FROM CONTINUING OPERATIONS

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

23

61

173

21

51

-7

INCOME (LOSS) FROM DISCONTINUED OPERATIONS (including income from the sale of discontinued assets of $445,474 in 2014 ) (See note 3)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

265

15

-52

-

-

-

-

-

-

-

-

-

-

LOSS FROM DISCONTINUED OPERATIONS

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-4

128

-691

LESS: NONCONTROLLING INTEREST SHARE

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

27

-135

Net income/(loss)

-

-

1,387

-309

-

-2,482

-2,717

-1,974

-2,286

-3,985

-1,727

-1,563

-1,054

-3,493

-2,613

-3,532

-2,613

-3,439

-2,149

-1,808

-1,393

-1,365

-992

-426

-946

-466

-265

-15

52

62

111

168

36

-

-

-

-

152

-563

Dividends on Series 2 Convertible Preferred Shares

609

609

609

609

609

609

609

604

603

603

603

560

548

548

548

114

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deemed dividend from exchange offer of warrants

713

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net loss attributable to common shareholders

-1,271

-1,613

778

-919

-105

-3,091

-3,326

-2,579

-2,890

-4,589

-2,331

-2,123

-1,603

-4,042

-3,162

-3,647

-2,613

-

-2,149

-1,808

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

152

-563

Basic and diluted (loss) per common share:
Basic and diluted

-0.06

-

-

-0.05

-0.01

-

-

-0.48

-0.55

-0.87

-0.44

-0.40

-0.30

-0.77

-0.60

-0.70

-0.50

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1.31

-0.41

-0.04

-0.04

-0.04

-0.03

-0.03

-0.05

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

0.00

0.00

0.00

0.01

0.01

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net loss

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1.31

-0.41

-0.04

-0.04

-0.04

-0.03

-0.02

-0.04

-

-

-

-

-

-

-

-

-

-

-

-

-

-

LOSS FROM CONTINUING OPERATIONS

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

-

-

-

-

-

-

-

-

-

-

NET INCOME

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

61

173

17

179

-698

Basic

-

-

0.04

-

-

-

-0.56

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

-

-

-

-

0.00

0.00

0.01

0.00

0.00

-

LOSS FROM DISCONTINUED OPERATIONS (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

0.00

0.01

-0.03

NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

0.00

0.01

0.01

0.00

0.00

0.00

0.01

0.00

0.01

-0.03

Diluted

-

-

0.04

-

-

-

-0.56

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

-

-

-

-

0.00

0.00

0.01

0.00

0.00

-

INCOME FROM DISCOUNTINUED OPERATIONS

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

-

-

-

-

-

-

-

-

-

-

LOSS FROM DISCONTINUED OPERATIONS (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

0.00

0.01

-0.03

NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

0.00

0.01

0.01

0.00

0.00

0.00

0.01

0.00

0.01

-0.03

WEIGHTED AVERAGE COMMON SHARES:
Basic and diluted

19,903

-

-

17,666

17,650

-

-

5,368

5,294

5,293

5,292

5,290

5,287

5,287

5,276

5,223

5,210

-76,352

5,203

52,019

38,604

-

-

-

21,148

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Basic

-

-

17,666

-

-

-

5,950

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

32,128

24,676

-

-

18,634

18,634

18,634

19,505

18,634

17,763

18,634

21,246

17,763

17,763

17,763

18,616

18,580

Diluted

-

-

19,798

-

-

-

5,950

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

32,128

24,676

-

-

18,634

20,739

20,691

21,178

20,843

20,516

20,516

20,347

20,572

20,572

20,572

20,516

18,580