XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net income (loss) $ 1,556 $ (1,777)
Adjustments to reconcile net income (loss) to net cash provided (used in) by operating activities:    
Depreciation and amortization of intangibles 22 125
Amortization of debt issuance costs 23 18
Amortization of operating of lease right-of-use assets 8 379
Loss (gain) on disposal of property and equipment 7 (79)
Unrealized loss on equity investments 0 787
Provision for credit losses 645 3,644
Amortization of dealer discounts (905) (1,567)
Amortization of insurance and fees commissions (548) (511)
Accretion of purchase price discount (28) (41)
Deferred income taxes 0 (341)
Principal reduction on operating lease liabilities (8) (445)
Share-based compensation 26 25
Changes in operating assets and liabilities:    
Repossessed assets 0 (330)
Accrued interest receivable 311 (173)
Prepaid expenses and other assets (305) (102)
Accounts payable, accrued expenses, and other liabilities 220 (674)
Income taxes receivable 145 (299)
Net cash provided by (used in) operating activities 1,169 (1,361)
Cash flows from investing activities    
Purchase and origination of finance receivables (2,720) (30,569)
Principal payments received and proceeds from repossessed assets 15,638 28,438
Purchase of equity investments 0 (7,236)
Payments for property and equipment (13) (33)
Proceeds from the disposal property and equipment 0 93
Net cash provided by (used in) investing activities 12,905 (9,307)
Cash flows from financing activities    
Repayments on credit facilities (13,850) (2,500)
Proceeds from credit facilities 0 17,500
Repayment of PPP Loan 0 (3,244)
Cancellations of restricted stock awards 0 (174)
Repurchases of treasury stock 0 (2,138)
Net cash (used in) provided by financing activities (13,850) 9,444
Net increase (decrease) in cash 224 (1,224)
Cash at the beginning of period 454 4,775
Cash the end of period 678 3,551
Supplemental disclosures, including noncash activities:    
Interest paid 567 546
Income taxes paid 0 12
Leased assets obtained in exchange for new operating lease liabilities 0 59
Supplemental schedule of noncash financing activities:    
Cancellations of restricted stock awards $ 0 $ (174)