FPAY · As filed with the SEC
FlexShopper balance sheet, by quarter
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.
Condensed Consolidated Balance Sheets · USD
| USD | Q3 2024 Sep 30, 2024 | Q2 2024 Jun 30, 2024 | Q1 2024 Mar 31, 2024 | Q4 2023 Dec 31, 2023 |
|---|---|---|---|---|
| ASSETS | ||||
| Cash | — | — | — | 4,413,130 |
| Cash | 7,330,542 | 4,892,912 | 5,593,750 | — |
| Lease receivables, net | — | — | 49,316,032 | 44,795,090 |
| Lease receivables, net | 66,181,471 | 57,151,127 | — | — |
| Loan receivables at fair value | 47,116,140 | 40,085,656 | 39,457,230 | 35,794,290 |
| Prepaid expenses and other assets | 4,583,392 | 4,452,164 | 3,308,255 | 3,300,677 |
| Lease merchandise, net | 24,087,010 | 25,856,542 | 25,896,510 | 29,131,440 |
| Total current assets | 149,298,555 | 132,438,401 | 123,571,777 | 117,434,627 |
| Property and equipment, net | 9,495,192 | 9,419,105 | 9,588,238 | 9,308,859 |
| Right of use asset, net | — | 1,142,104 | 1,190,482 | 1,237,010 |
| Intangible assets, net | — | 12,506,545 | 12,948,971 | 13,391,305 |
| Right of use asset, net | 1,093,551 | — | — | — |
| Intangible assets, net | 12,064,118 | — | — | — |
| Other assets, net | 2,528,397 | 2,459,908 | 2,313,988 | 2,175,215 |
| Deferred tax asset, net | 12,781,946 | 14,246,325 | 13,000,294 | 12,943,361 |
| Total assets | 187,261,759 | 172,212,388 | 162,613,750 | 156,490,377 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||
| CURRENT LIABILITIES: | ||||
| Accounts payable | 3,604,816 | 3,811,310 | 3,370,054 | 7,139,848 |
| Accrued payroll and related taxes | 744,371 | 381,929 | 700,208 | 578,197 |
| Related Party | — | 174,096 | 198,398 | 198,624 |
| Promissory notes to related parties, including accrued interest, and net of unamortized issuance costs of $305,860 at September 30, 2024 | 10,616,988 | — | — | — |
| Accrued expenses | 3,477,386 | 3,763,725 | 4,498,602 | 3,972,397 |
| Lease liability - current portion | — | 263,111 | 253,936 | 245,052 |
| Lease liability - current portion | 275,029 | — | — | — |
| Total current liabilities | 18,718,590 | 8,394,171 | 9,021,198 | 12,134,118 |
| Loans payable | — | 117,483,978 | 105,566,690 | 96,384,220 |
| Promissory notes to related parties, net of unamortized issuance costs of $649,953 at December 31, 2023 and $0 at December 31, 2022, and net of current portion | — | — | — | 10,100,047 |
| Related Party | — | 10,329,442 | 10,214,744 | — |
| Loan payable under Basepoint credit agreement, net of unamortized issuance costs of $73,730 at June 30, 2024 and $92,964 at December 31, 2023 | — | 7,338,875 | 7,329,258 | 7,319,641 |
| Lease liabilities, net of current portion | — | — | 1,254,239 | 1,321,578 |
| 2024 Credit Agreement | 130,274,365 | — | — | — |
| Basepoint Credit Agreement | 7,348,492 | — | — | — |
| Promissory notes to related parties, net of unamortized issuance costs of $649,953 at December 31, 2023 and net of current portion | 0 | — | — | — |
| Lease liabilities, net of current portion | 1,111,740 | 1,184,683 | — | — |
| Total liabilities | 157,453,187 | 144,731,149 | 133,386,129 | 127,259,604 |
| STOCKHOLDERS’ EQUITY | ||||
| Series 1 Convertible Preferred Stock | 851,660 | 851,660 | 851,660 | 851,660 |
| Series 2 Convertible Preferred Stock | 21,952,000 | 21,952,000 | 21,952,000 | 21,952,000 |
| Common stock, $0.0001 par value - authorized 40,000,000 shares, issued 21,988,711 shares at September 30, 2024 and 21,752,304 shares at December 31, 2023 | 2,200 | 2,200 | 2,176 | 2,176 |
| Treasury shares, at cost- 346,258 shares at June 30, 2024 and 164,029 shares at December 31, 2023 | — | (367,563) | (172,855) | (166,757) |
| Treasury shares, at cost- 526,822 shares at September 30, 2024 and 164,029 shares at December 31, 2023 | (563,537) | — | — | — |
| Additional paid in capital | 42,841,302 | 42,684,380 | 42,633,019 | 42,415,894 |
| Accumulated deficit | (35,275,053) | (37,641,438) | (36,038,379) | (35,824,200) |
| Total stockholders’ equity | 29,808,572 | 27,481,239 | 29,227,621 | 29,230,773 |
| Total liabilities and stockholders' equity | 187,261,759 | 172,212,388 | 162,613,750 | 156,490,377 |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.