XML 15 R4.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Revenues    
Interest on delinquent association fees $ 359,012 $ 471,923
Administrative and late fees 70,686 69,369
Recoveries in excess of cost - special product 100,470 95,904
Underwriting fees and other revenues 96,605 120,176
Rental revenue 161,618 141,569
Digital mining revenues, net 945,560  
Total revenues 1,733,951 898,941
Operating costs and expenses    
Digital mining cost of revenues (exclusive of depreciation and amortization shown below) 1,033,226  
Professional fees 3,158,446 2,271,808
Settlement costs with associations 160 2,000
Selling, general and administrative 635,268 417,963
Provision for credit losses (10,177) (10,000)
Recovery of cost from related party receivable   (200,000)
Real estate management and disposal 110,465 132,283
Depreciation and amortization 478,020 11,087
Collection costs (12,213) 4,459
Impairment loss on mined digital assets 79,794 0
Other operating costs 1,514,224 444,345
Total operating costs and expenses 26,409,936 9,331,320
Loss from operations (24,675,985) (8,432,379)
Realized gain (loss) on securities (349,920) 13,817,863
Realized gain on convertible debt securities 287,778  
Unrealized loss on convertible debt security   (407,992)
Unrealized loss on marketable securities (56,830) (1,387,590)
Impairment loss on purchased digital assets (467,406) (23,720)
Impairment loss on prepaid mining machine deposits (3,150,000)  
Impairment loss on prepaid hosting deposits (1,790,712)  
Credit loss on debt securities (1,052,542)  
Unrealized gain on investment and equity securities 4,423,985 886,543
Realized gain on sale of digital assets 20,254 502,657
Loss on disposal of assets (38,054)  
Digital assets other income 5,658 3,775
Dividend income 3,875 2,113
Interest income 399,094 211,427
Interest expense (4,416) (653)
Gain on forgiveness of note payable   157,250
Income (loss) before income taxes (26,445,221) 5,329,294
Income tax expense (1,438,066) (326,178)
Net income (loss) (27,883,287) 5,003,116
Less: Net income attributable to non-controlling interest (1,356,914) (243,898)
Net income (loss) attributable to LM Funding America Inc. $ (29,240,201) $ 4,759,218
Basic income (loss) per common share $ (2.23) $ 0.70
Diluted income (loss) per common share $ (2.23) $ 0.60
Weighted average number of common shares outstanding    
Basic 13,084,185 6,828,704
Diluted 13,084,185 7,927,255
Service [Member]    
Operating costs and expenses    
Staff costs & payroll $ 19,422,723 $ 6,257,375