FPAY · As filed with the SEC
FlexShopper cash flow statement, by fiscal year
The statement as FlexShopper presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
Consolidated Statements of Cash Flows · USD
| USD | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 | FY2019 Year ended Dec 31, 2019 | FY2018 Year ended Dec 31, 2018 | Year ended Dec 31, 2017 Year ended Dec 31, 2017 | Year ended Dec 31, 2016 Year ended Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
| Net (loss)/ income | (4,233,617) | 13,631,719 | 3,272,774 | (339,896) | 577,415 | (9,461,262) | (8,330,761) | — |
| Adjustments to reconcile net (loss)/ income to net cash used in operating activities: | ||||||||
| Depreciation and impairment of lease merchandise | — | 72,556,431 | 73,616,293 | 63,308,210 | 58,253,095 | 40,639,232 | 31,453,246 | — |
| Depreciation and impairment of lease merchandise | 56,288,128 | — | — | — | — | — | — | — |
| Other depreciation and amortization | 7,881,110 | 4,769,614 | 2,871,541 | 2,577,084 | 2,524,422 | 2,410,537 | 2,090,581 | — |
| Amortization of debt issuance costs | 571,538 | 228,843 | 220,816 | — | — | — | — | — |
| Amortization of discount on the promissory note related to acquisition | 236,952 | 19,747 | — | — | — | — | — | — |
| Compensation expense related to stock-based compensation | 1,677,708 | 997,830 | 1,648,627 | 1,388,755 | 723,394 | 133,428 | 113,952 | — |
| Provision for doubtful accounts | — | 57,420,480 | 40,489,540 | — | — | — | — | — |
| Gain on sale of lease receivables | — | 8,821,106 | — | — | — | — | — | — |
| Interest in kind added to promissory notes balance | — | 155,093 | 9,460 | 13,388 | — | — | — | — |
| Payment of interest in kind under promissory notes | — | — | — | — | 73,073 | — | — | — |
| Write off of capitalized software costs | — | — | 4,361 | — | — | — | — | — |
| Provision for doubtful accounts | 42,505,647 | — | — | (31,930,714) | 34,838,046 | 23,239,189 | 19,135,207 | — |
| Loss on debt extinguishment | — | — | — | — | — | 126,622 | — | — |
| Payment of interest in kind under promissory notes | — | — | — | — | — | 64,771 | — | — |
| Payment of interest in kind under credit agreement | — | — | — | — | — | 248,535 | — | — |
| Interest in kind added to promissory notes balance | — | — | — | — | 170,550 | — | — | — |
| Deferred income tax | (929,533) | (17,282,364) | 495,166 | — | — | — | — | — |
| Net change in fair value of promissory note related to acquisiton | (3,678,689) | — | (1,931,825) | — | — | — | — | — |
| Gain on bargain purchase | — | (14,461,274) | — | — | — | — | — | — |
| Net changes in the fair value of loan receivables at fair value | (10,217,854) | 9,559,979 | — | — | — | — | — | — |
| Changes in operating assets and liabilities, net of effects of acquisition: | ||||||||
| Lease receivables | — | (76,308,475) | (60,355,817) | 30,170,332 | (36,734,415) | (25,355,684) | (21,212,888) | — |
| Lease receivables | (51,760,694) | — | — | — | — | — | — | — |
| Loan receivables at fair value | 7,356,068 | (25,612,049) | — | — | — | — | — | — |
| Prepaid expenses and other assets | 177,169 | (1,665,880) | (87,394) | (195,104) | (352,710) | 6,844 | 32,296 | — |
| Lease merchandise | — | — | (71,736,065) | (75,067,446) | — | — | — | — |
| Lease merchandise | — | (63,164,760) | (5,811) | — | — | — | — | — |
| Security deposits | — | (4,956) | (8,338) | 2,943 | 9,210 | 2,025 | (10,206) | — |
| Purchase consideration payable related to acquisition | — | 164,102 | — | — | — | — | — | — |
| Lease merchandise | (53,869,127) | — | — | 198,528 | (56,951,502) | (51,588,607) | (34,298,108) | — |
| Purchase consideration payable related to acquisition | 208,921 | — | — | — | — | — | — | — |
| Promissory note related to acquisition | 283,266 | — | — | — | — | — | — | — |
| Lease liabilities | (30,268) | (14,488) | — | — | — | — | — | — |
| Accounts payable | 627,905 | (1,976,844) | 74,561 | 3,339,730 | (3,814,098) | 827,715 | 3,784,397 | — |
| Accrued payroll and related taxes | 267,377 | (80,258) | (165,461) | 43,271 | 120,172 | (11,251) | 108,013 | — |
| Accrued expenses | (26,527) | 1,009,468 | 331,541 | 1,283,372 | 93,887 | 557,648 | 535,437 | — |
| Net cash used in operating activities | (6,664,520) | (31,236,936) | (11,256,031) | (5,207,547) | (469,461) | (18,160,258) | (6,598,834) | — |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||
| Cash acquired in business combination | — | 2,938,355 | — | — | — | — | — | — |
| Purchases of property and equipment, including capitalized software costs | (6,335,276) | (6,498,115) | (4,949,544) | (3,098,194) | (2,241,172) | (2,284,876) | (2,021,538) | — |
| Purchases of data costs | — | (1,640,885) | — | — | — | — | — | — |
| Purchases of data costs | (1,225,983) | — | — | — | — | — | — | — |
| Net cash used in investing activities | (7,561,259) | (5,200,645) | (4,949,544) | (3,098,194) | (2,241,172) | (2,284,876) | (2,021,538) | — |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||
| Proceeds from Debt Issuance | — | — | — | 15,033,000 | 12,396,078 | — | — | — |
| Repayment of loan payable under credit agreement | — | — | — | — | (11,815,488) | — | — | — |
| Repayment of loan payable under credit agreement | — | — | — | (7,023,250) | — | — | — | — |
| Proceeds from Debt Issuance | — | — | — | 1,914,100 | 3,440,000 | 3,465,000 | — | — |
| Net Cash from Financing Activities | — | — | — | — | — | 19,366,359 | 10,450,000 | — |
| Repayment of loan payable under credit agreement | — | — | — | — | — | (9,959,607) | (2,288,208) | — |
| Proceeds from loan payable under credit agreement | 18,050,000 | 36,455,000 | 19,850,000 | — | — | — | — | — |
| Repayment of loan payable under credit agreement | — | (5,730,000) | (6,575,000) | — | — | — | — | — |
| Repayment of loan payable under credit agreement | (2,795,000) | — | — | — | — | — | — | — |
| Repayment of loan payable under Basepoint credit agreement | (1,500,000) | — | — | — | — | — | — | — |
| Repayment of promissory notes to related parties | (1,000,000) | — | — | — | — | — | — | — |
| Debt issuance related costs | (115,403) | (166,745) | (565,273) | — | — | — | — | — |
| Proceeds from exercise of stock options | 1,185 | 261,505 | 68,172 | — | 69,406 | — | 15,000 | — |
| Net Cash from Financing Activities | — | — | — | — | — | 1,750 | — | — |
| Net Cash from Financing Activities | — | — | — | — | — | 10,007,500 | — | — |
| Equity issuance related costs | — | — | — | — | — | (1,123,419) | — | — |
| Proceeds from exercise of stock options | — | — | — | 5,662 | — | — | — | — |
| Repayment of installment loan | — | — | — | (11,207) | (11,208) | (11,208) | — | — |
| Debt issuance related costs | — | — | — | — | — | (128,946) | — | — |
| Debt issuance related costs | — | — | — | (64,390) | (243,750) | — | — | — |
| Proceeds from promissory notes to related parties | — | 7,000,000 | — | — | — | — | — | — |
| Principal payment under finance lease obligation | (8,465) | (11,184) | (7,707) | (6,664) | (2,527) | — | — | — |
| Net Cash from Financing Activities | — | — | — | — | 61,509 | — | — | — |
| Proceeds from exercise of warrants | — | — | — | 131,250 | 43,875 | — | — | — |
| Repayment of purchase consideration payable related to acquisition | — | (283,266) | — | — | (500,000) | — | — | — |
| Repayment of installment loan | — | (9,022) | (11,207) | — | — | — | — | — |
| Purchases of Treasury Stock | (166,757) | — | — | — | — | — | — | — |
| Net cash provided by financing activities | 12,465,560 | 37,516,288 | 12,758,985 | 9,978,501 | 3,437,895 | 21,617,429 | 8,176,792 | — |
| Net Change in Cash | — | — | — | — | 727,262 | 1,172,295 | (443,580) | — |
| INCREASE / (DECREASE) IN CASH and RESTRICTED CASH | — | 1,078,707 | (3,446,590) | — | — | — | — | — |
| (DECREASE)/ INCREASE IN CASH and RESTRICTED CASH | (1,760,219) | — | — | 1,672,760 | — | — | — | — |
| CASH, beginning of period | — | — | 8,541,232 | 6,868,472 | 6,141,210 | 4,968,915 | 5,412,495 | — |
| CASH, end of period | — | — | — | 8,541,232 | 6,868,472 | 6,141,210 | 4,968,915 | — |
| CASH and RESTRICTED CASH, beginning of period | 6,173,349 | 5,094,642 | 8,541,232 | — | — | — | — | — |
| CASH and RESTRICTED CASH, end of period | 4,413,130 | 6,173,349 | 5,094,642 | — | — | — | — | — |
| Supplemental cash flow information: | ||||||||
| Interest Expense | — | — | — | 3,973,374 | 3,606,328 | 2,806,285 | 1,649,795 | — |
| Issuance of common stock and warrants to extinguish debt and accrued interest | — | — | — | — | — | 2,089,266 | — | — |
| Deemed dividend from exchange offer of warrants | — | — | — | 713,212 | — | — | — | — |
| Conversion of preferred stock to common stock | — | — | — | 4,295 | 341,070 | — | 18,300 | — |
| Warrants issued for debt issuance costs | — | — | — | — | — | 523,251 | — | — |
| Interest paid | — | — | 4,945,690 | — | — | — | — | — |
| Interest paid | 17,337,292 | 10,289,334 | — | — | — | — | — | — |
| Due date extension of warrants | 917,581 | — | — | — | — | — | — | — |
| Acquisition of loan receivables at fair value | — | 13,320,326 | — | — | — | — | — | — |
| Acquisition of property and equipment | — | 136,249 | — | — | — | — | — | — |
| Acquisition of intangible assets | — | 15,307,894 | — | — | — | — | — | — |
| Acquisition of purchase consideration payable related to acquisition | — | 8,539,582 | — | — | — | — | — | — |
| Acquisition of accounts payable | — | 506,607 | — | — | — | — | — | — |
| Acquisition of deferred tax liability | — | 4,773,370 | — | — | — | — | — | — |
| Issuance of promissory note related to acquisition | — | 3,421,991 | — | — | — | — | — | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.