RumbleON, Inc(NASDAQ:RMBL) 
RumbleON, Inc. operates an e-commerce platform that aggregates and distributes pre-owned vehicles to and from consumers and dealers in North America. It operates in three segments: Powersports, Automotive, and Vehicle Logistics and Transportation. The Powersports segment distributes motorcycles. The...
Website: http://www.rumbleon.com
Founded: 2013
IPO Price: $33 (Aug 26, 2021)
Full Time Employees: 159
Sector: Consumer Cyclical
Industry: Auto & Truck Dealerships
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At a glance:
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Quarterly
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| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-08-31 | 2016-05-31 | 2016-02-29 | 2015-11-30 | 2015-08-31 | 2015-05-31 | 2015-02-28 | 2014-11-30 | 2014-10-16 | 2014-05-31 | 2014-02-28 |
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revenue: | |||||||||||||||||||||||||||||||||||||||||||||||||
powersports vehicles | 191,900,000 | 183,500,000 | 204,300,000 | 219,000,000 | 172,000,000 | 186,400,000 | 206,400,000 | 235,000,000 | 214,800,000 | 213,264,000 | 235,132,000 | 269,721,000 | |||||||||||||||||||||||||||||||||||||
parts, service and accessories | 46,700,000 | 48,500,000 | 50,800,000 | 52,400,000 | 46,100,000 | 47,200,000 | 49,200,000 | 56,900,000 | 52,900,000 | 57,595,000 | 59,727,000 | 65,409,000 | 59,069,000 | 65,293,000 | 62,217,000 | 65,315,000 | 54,737,000 | 50,894,000 | 16,075,000 | ||||||||||||||||||||||||||||||
finance and insurance | 21,800,000 | 24,100,000 | 24,900,000 | 27,200,000 | 21,100,000 | 22,600,000 | 24,300,000 | 29,700,000 | 25,800,000 | 27,342,000 | 29,288,000 | 33,178,000 | 27,227,000 | 27,670,000 | 31,588,000 | 36,848,000 | 27,470,000 | 36,404,000 | 6,180,000 | ||||||||||||||||||||||||||||||
vehicle transportation services | 800,000 | 1,000,000 | 1,300,000 | 5,500,000 | 13,400,000 | 15,100,000 | 15,200,000 | 14,300,000 | |||||||||||||||||||||||||||||||||||||||||
total revenue | 260,400,000 | 256,900,000 | 281,000,000 | 299,900,000 | 244,700,000 | 269,600,000 | 295,000,000 | 336,800,000 | 307,800,000 | 311,174,000 | 338,111,000 | 382,731,000 | 346,304,000 | 317,081,000 | 470,272,000 | 546,095,000 | 459,920,000 | 444,617,000 | 221,214,000 | 168,345,623 | 104,264,011 | 70,679,285 | 117,257,404 | 84,341,293 | 144,424,750 | 126,951,361 | 220,320,323 | 270,179,904 | 223,177,759 | 115,148,470 | 19,255,022 | 13,914,534 | 8,080,205 | 3,444,349 | 3,706,142 | 116,522 | |||||||||||||
yoy | 6.42% | -4.71% | -4.75% | -10.96% | -20.50% | -13.36% | -12.75% | -12.00% | -11.12% | -1.86% | -28.10% | -29.91% | -24.70% | -28.68% | 112.59% | 224.39% | 341.11% | 529.06% | 88.66% | 99.60% | -27.81% | -44.33% | -46.78% | -68.78% | -35.29% | 10.25% | 1044.22% | 1841.71% | 2662.03% | 3243.11% | 419.54% | 11841.55% | |||||||||||||||||
qoq | 1.36% | -8.58% | -6.30% | 22.56% | -9.24% | -8.61% | -12.41% | 9.42% | -1.08% | -7.97% | -11.66% | 10.52% | 9.22% | -32.57% | -13.88% | 18.74% | 3.44% | 100.99% | 31.40% | 61.46% | 47.52% | -39.72% | 39.03% | -41.60% | 13.76% | -42.38% | -18.45% | 21.06% | 93.82% | 498.02% | 38.38% | 72.21% | 134.59% | -7.06% | 3080.64% | ||||||||||||||
cost of revenue: | |||||||||||||||||||||||||||||||||||||||||||||||||
total cost of revenue | 188,800,000 | 186,000,000 | 205,000,000 | 216,000,000 | 177,500,000 | 202,100,000 | 220,700,000 | 246,900,000 | 225,200,000 | 239,921,000 | 246,166,000 | 276,330,000 | 255,269,000 | 223,944,000 | 353,926,000 | 408,132,000 | 354,707,000 | 354,516,000 | 183,827,000 | 148,834,378 | 93,085,541 | 62,999,162 | 100,453,349 | 75,884,559 | 145,738,263 | 117,956,492 | 208,305,798 | 254,562,392 | 209,186,690 | ||||||||||||||||||||
gross profit | 71,600,000 | 70,900,000 | 76,000,000 | 83,900,000 | 67,200,000 | 67,500,000 | 74,300,000 | 89,900,000 | 82,600,000 | 71,253,000 | 91,945,000 | 106,401,000 | 91,035,000 | 93,137,000 | 116,346,000 | 137,963,000 | 105,213,000 | 90,101,000 | 37,387,000 | 19,511,245 | 11,178,470 | 7,680,123 | 16,804,055 | 8,456,734 | -1,313,513 | 8,994,869 | 12,014,525 | 15,617,512 | 13,991,069 | 8,806,124 | 2,006,434 | 1,264,830 | |||||||||||||||||
yoy | 6.55% | 5.04% | 2.29% | -6.67% | -18.64% | -5.27% | -19.19% | -15.51% | -9.27% | -23.50% | -20.97% | -22.88% | -13.48% | 3.37% | 211.19% | 607.09% | 841.21% | 1073.17% | 122.49% | 130.72% | -951.04% | -14.62% | 39.86% | -45.85% | -109.39% | 2.14% | 498.80% | 1134.75% | |||||||||||||||||||||
qoq | 0.99% | -6.71% | -9.42% | 24.85% | -0.44% | -9.15% | -17.35% | 8.84% | 15.92% | -22.50% | -13.59% | 16.88% | -2.26% | -19.95% | -15.67% | 31.13% | 16.77% | 141.00% | 91.62% | 74.54% | 45.55% | -54.30% | 98.71% | -743.83% | -114.60% | -25.13% | -23.07% | 11.62% | 58.88% | 338.89% | 58.63% | ||||||||||||||||||
gross margin % | 27.50% | 27.60% | 27.05% | 27.98% | 27.46% | 25.04% | 25.19% | 26.69% | 26.84% | 22.90% | 27.19% | 27.80% | 26.29% | 29.37% | 24.74% | 25.26% | 22.88% | 20.26% | 16.90% | 11.59% | 10.72% | 10.87% | 14.33% | 10.03% | -0.91% | 7.09% | 5.45% | 5.78% | 6.27% | 7.65% | 10.42% | 9.09% | 0% | 0% | 0% | 0% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% |
selling, general and administrative | 62,100,000 | 64,100,000 | 64,400,000 | 66,700,000 | 61,100,000 | 64,200,000 | 65,900,000 | 71,400,000 | 73,900,000 | 75,743,000 | 84,957,000 | 100,313,000 | 87,095,000 | 91,971,000 | 96,185,000 | 100,155,000 | 78,076,000 | 95,000,000 | 37,564,000 | 18,113,151 | 13,401,344 | 11,149,483 | 13,279,151 | 11,174,288 | 18,056,426 | 22,165,729 | 19,010,939 | 25,007,565 | 20,440,016 | 17,195,856 | 8,431,561 | 5,545,509 | 3,880,492 | 2,896,783 | 2,326,043 | 1,708,967 | |||||||||||||
depreciation and amortization | 1,900,000 | 2,500,000 | 2,200,000 | 2,000,000 | 2,300,000 | 4,600,000 | 3,100,000 | 3,100,000 | 3,500,000 | 4,729,000 | 7,275,000 | 5,269,000 | 4,741,000 | 6,156,000 | 6,570,000 | 5,879,000 | 4,474,000 | 3,155,000 | 1,717,000 | 631,828 | 599,240 | 575,242 | 536,381 | 508,322 | 522,995 | 503,093 | 473,670 | 427,438 | 382,225 | 312,742 | 247,669 | 217,827 | 205,767 | 365,770 | 129,277 | 113,335 | 60,085 | 475 | 475 | 475 | 475 | 475 | 475 | 475 | 475 | 475 | 475 | ||
operating income | 7,600,000 | 5,400,000 | 9,400,000 | -18,800,000 | 3,800,000 | -40,600,000 | 5,300,000 | 15,400,000 | 5,200,000 | -69,319,000 | -287,000 | 819,000 | -801,000 | -355,305,000 | 13,591,000 | 31,929,000 | 22,663,000 | 15,889,000 | -22,702,000 | 766,266 | -2,822,114 | -4,044,602 | 2,988,523 | 2,389,392 | -19,892,934 | -13,673,953 | -7,470,084 | -9,817,491 | -6,831,172 | -8,702,474 | -6,672,796 | -4,498,506 | -3,527,355 | -3,218,542 | -2,227,302 | -1,820,423 | |||||||||||||
yoy | 100.00% | -113.30% | 77.36% | -222.08% | -26.92% | -41.43% | -1946.69% | 1780.34% | -749.19% | -80.49% | -102.11% | -97.43% | -103.53% | -2336.17% | -159.87% | 4066.83% | -903.05% | -492.84% | -859.64% | -67.93% | -85.81% | -70.42% | -140.01% | -124.34% | 191.21% | 57.13% | 11.95% | 118.24% | 93.66% | 170.39% | 199.59% | 147.11% | |||||||||||||||||
qoq | 40.74% | -42.55% | -150.00% | -594.74% | -109.36% | -866.04% | -65.58% | 196.15% | -107.50% | 24052.96% | -135.04% | -202.25% | -99.77% | -2714.27% | -57.43% | 40.89% | 42.63% | -169.99% | -3062.68% | -127.15% | -30.23% | -235.34% | 25.07% | -112.01% | 45.48% | 83.05% | -23.91% | 43.72% | -21.50% | 30.42% | 48.33% | 27.53% | 9.59% | 44.50% | 22.35% | ||||||||||||||
operating margin % | 2.92% | 2.10% | 3.35% | -6.27% | 1.55% | -15.06% | 1.80% | 4.57% | 1.69% | -22.28% | -0.08% | 0.21% | -0.23% | -112.05% | 2.89% | 5.85% | 4.93% | 3.57% | -10.26% | 0.46% | -2.71% | -5.72% | 2.55% | 2.83% | -13.77% | -10.77% | -3.39% | -3.63% | -3.06% | -7.56% | -34.65% | -32.33% | -43.65% | -93.44% | -60.10% | -1562.30% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% |
other income: | |||||||||||||||||||||||||||||||||||||||||||||||||
floor plan interest expense | -2,400,000 | -2,500,000 | -3,100,000 | -2,600,000 | -2,800,000 | -3,300,000 | -4,400,000 | -4,300,000 | -4,000,000 | ||||||||||||||||||||||||||||||||||||||||
other interest expense | -9,300,000 | -9,400,000 | -10,400,000 | -10,900,000 | -10,800,000 | -11,900,000 | -12,200,000 | -11,900,000 | -12,100,000 | ||||||||||||||||||||||||||||||||||||||||
other income | -100,000 | 100,000 | 100,000 | 200,000 | 200,000 | 100,000 | 100,000 | 300,000 | -8,608,000 | 75,000 | 101,000 | 42,000 | 4,044,000 | 38,000 | 249,000 | ||||||||||||||||||||||||||||||||||
total other expense | -11,800,000 | -10,025,000 | -13,400,000 | -13,300,000 | -13,400,000 | -12,125,000 | -16,500,000 | -16,200,000 | -13,887,000 | -19,753,000 | -18,225,000 | 211,803 | 18,914 | -2,681 | -2,359 | -2,176 | -1,989 | -1,972 | -1,743 | -1,553 | -1,495 | -1,513 | -1,219 | -723 | |||||||||||||||||||||||||
income before income taxes | -4,200,000 | -6,400,000 | -4,000,000 | -32,100,000 | -9,600,000 | ||||||||||||||||||||||||||||||||||||||||||||
income tax expense | 100,000 | 75,000 | 100,000 | 100,000 | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||
net income | -4,300,000 | -6,400,000 | -4,100,000 | -32,200,000 | -9,700,000 | -56,400,000 | -11,200,000 | -700,000 | -10,300,000 | -168,526,000 | -16,484,000 | -13,588,000 | -16,902,000 | -287,726,000 | 3,039,000 | 14,033,000 | 9,141,000 | 20,660,000 | -22,544,000 | -3,389,929 | -5,492,020 | 1,486,915 | 1,044,472 | -22,038,342 | -15,027,368 | -8,871,781 | -13,001,599 | -8,276,305 | -9,825,371 | -7,006,244 | -4,736,326 | -3,613,876 | -3,440,700 | -2,317,503 | -1,892,227 | -922,895 | -169,932 | -27,881 | -18,113 | -8,652 | -14,554 | -8,331 | -11,380 | -14,544 | -6,952 | -56,923 | -43,722 | -27,998 | |
yoy | -55.67% | -88.65% | -63.39% | 4500.00% | -5.83% | -66.53% | -32.06% | -94.85% | -39.06% | -41.43% | -642.42% | -196.83% | -284.90% | -1492.67% | -113.48% | -513.96% | -476.18% | -1616.16% | -424.56% | -63.45% | -116.76% | -108.03% | 166.28% | 52.94% | 26.63% | 174.51% | 129.01% | 185.56% | 202.32% | 150.30% | 291.58% | 1924.75% | 8212.12% | 10346.79% | 10566.84% | 1067.60% | 234.67% | 59.17% | -40.51% | 109.35% | -85.36% | -73.97% | -48.05% | ||||||
qoq | -32.81% | 56.10% | -87.27% | 231.96% | -82.80% | 403.57% | 1500.00% | -93.20% | -93.89% | 922.36% | 21.31% | -19.61% | -94.13% | -9567.79% | -78.34% | 53.52% | -55.76% | -191.64% | 565.03% | -469.36% | 42.36% | -104.74% | 46.65% | 69.38% | -31.76% | 57.09% | -15.77% | 40.24% | 47.93% | 31.06% | 5.03% | 48.47% | 22.47% | 105.03% | 443.10% | 509.49% | 53.93% | 109.35% | -40.55% | 74.70% | -26.79% | -21.75% | 109.21% | -87.79% | 30.19% | 56.16% | |||
net income margin % | -1.65% | -2.49% | -1.46% | -10.74% | -3.96% | -20.92% | -3.80% | -0.21% | -3.35% | -54.16% | -4.88% | -3.55% | -4.88% | -90.74% | 0.65% | 2.57% | 1.99% | 4.65% | -10.19% | -2.01% | 0% | -7.77% | 1.27% | 1.24% | -15.26% | -11.84% | -4.03% | -4.81% | -3.71% | -8.53% | -36.39% | -34.04% | -44.73% | -99.89% | -62.53% | -1623.92% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% |
weighted-average shares - basic and diluted | 38,411,689,000,000 | 38,052,057,000,000 | 37,905,484,000,000 | 37,789,149,000,000 | 35,283,033,000,000 | 35,212,103,000,000 | 35,133,414,000,000 | ||||||||||||||||||||||||||||||||||||||||||
net income per share | -0.11 | -0.17 | -0.11 | -0.85 | -0.26 | -1.59 | -0.32 | -0.02 | -0.29 | 0.58 | 5.86 | -3.25 | -1.05 | -1.93 | -2.43 | 0.67 | 0.47 | -10.77 | -39.16 | -0.38 | -0.58 | -0.4 | -0.57 | -0.47 | -0.36 | -0.28 | -0.3 | -0.23 | -0.19 | -0.13 | -0.02 | -0.02 | -0.01 | -0.01 | -0.01 | -0.01 | |||||||||||||
impairment of franchise rights | 8,500,000 | 34,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
loss from continuing operations before income taxes | -56,200,000 | -11,200,000 | -800,000 | -10,600,000 | |||||||||||||||||||||||||||||||||||||||||||||
income tax benefit | -100,000 | -100,000 | |||||||||||||||||||||||||||||||||||||||||||||||
loss from continuing operations | -56,400,000 | -11,200,000 | -700,000 | -10,300,000 | |||||||||||||||||||||||||||||||||||||||||||||
loss from discontinued operations | |||||||||||||||||||||||||||||||||||||||||||||||||
loss from continuing operations per share - basic and diluted | -0.158 | -0.32 | -0.02 | -0.29 | |||||||||||||||||||||||||||||||||||||||||||||
loss from discontinued operations per share - basic and diluted | |||||||||||||||||||||||||||||||||||||||||||||||||
income tax provision | -300,000 | -1,603,000 | 1,936,500 | 496,000 | 4,870,000 | 2,380,000 | |||||||||||||||||||||||||||||||||||||||||||
vehicle logistics | 10,806,750 | 13,964,000 | 14,423,000 | 14,840,000 | 11,168,000 | 15,002,000 | 15,517,000 | 12,351,000 | |||||||||||||||||||||||||||||||||||||||||
interest expense | -21,444,000 | -19,828,000 | -18,326,000 | -17,746,000 | -16,809,000 | -12,603,000 | -13,275,000 | -11,181,000 | -8,298,000 | -4,577,000 | -1,920,525 | -1,608,820 | -1,451,069 | -1,488,090 | -1,482,408 | -2,216,757 | -12,539,293 | 2,031,697 | 1,874,858 | 1,445,133 | 1,122,897 | 333,448 | 237,820 | 86,521 | 222,158 | 90,201 | 71,804 | 211,803 | -863.75 | -1,513 | -1,219 | -723 | |||||||||||||||||
ppp loan forgiveness | 627,250 | 2,509,000 | |||||||||||||||||||||||||||||||||||||||||||||||
change in derivative liability | 39,000 | -25,000 | -6,518,000 | -20,652 | 1,788.75 | -13,518 | 137,488 | -205,000 | -630,000 | -190,000 | |||||||||||||||||||||||||||||||||||||||
income from continuing operations before income taxes | -13,932,250 | -20,040,000 | -17,406,000 | ||||||||||||||||||||||||||||||||||||||||||||||
income tax provision for continuing operations | -2,426,500 | -3,556,000 | |||||||||||||||||||||||||||||||||||||||||||||||
income from continuing operations | -11,505,750 | -16,484,000 | -12,833,000 | ||||||||||||||||||||||||||||||||||||||||||||||
income tax benefit for discontinued operations | -37,250 | ||||||||||||||||||||||||||||||||||||||||||||||||
basic shares | 4,113,063,500 | 16,665,709,000 | |||||||||||||||||||||||||||||||||||||||||||||||
earnings per share - basic from continuing operations | -0.7 | -0.99 | -0.78 | ||||||||||||||||||||||||||||||||||||||||||||||
earnings per share - basic from discontinued operations | -0.015 | -0.05 | |||||||||||||||||||||||||||||||||||||||||||||||
diluted shares | 4,113,063.5 | 16,665,709 | |||||||||||||||||||||||||||||||||||||||||||||||
earnings per share - diluted from continuing operations | -0.7 | -0.99 | -0.78 | ||||||||||||||||||||||||||||||||||||||||||||||
earnings per share - diluted from discontinued operations | -0.015 | -0.05 | |||||||||||||||||||||||||||||||||||||||||||||||
income taxes provision from continuing operations | -4,573,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
income from operations of discontinued operations | -878,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
income tax provision from discontinued operations | -123,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
income from discontinued operations | -755,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average number of common shares outstanding - basic | 16,462,079,000 | 16,224,122,000 | 16,020,296,000 | 16,059,288,000 | 15,693,900,000 | 5,500,000 | 5,089,041 | ||||||||||||||||||||||||||||||||||||||||||
weighted-average number of common shares outstanding - diluted | 16,462,079 | 16,224,122 | 16,067,395 | 16,095,862 | |||||||||||||||||||||||||||||||||||||||||||||
vehicle sales | |||||||||||||||||||||||||||||||||||||||||||||||||
powersports | 233,283,000 | 175,110,000 | 291,491,000 | 312,685,000 | 254,633,000 | 201,996,000 | 83,292,000 | 27,978,693 | 10,854,884 | 8,012,061 | 7,303,131 | 8,199,396 | 23,139,080 | 16,620,655 | 27,153,474 | 30,305,687 | 26,929,159 | ||||||||||||||||||||||||||||||||
automotive | 11,885,000 | 37,840,000 | 69,974,000 | 115,730,000 | 110,729,000 | 144,233,000 | 105,298,000 | 127,286,568 | 84,070,855 | 55,842,517 | 99,315,335 | 68,294,841 | 114,198,079 | 105,170,692 | 187,108,303 | 233,856,329 | 190,907,188 | ||||||||||||||||||||||||||||||||
income before provision for income taxes | -18,505,000 | 8,489,750 | 3,535,000 | 18,903,000 | 11,521,000 | -3,389,929 | -4,451,586 | -4,876,738.75 | 1,486,915 | 1,044,472 | |||||||||||||||||||||||||||||||||||||||
earnings per share - basic | -1.04 | 0.413 | 0.19 | 0.87 | |||||||||||||||||||||||||||||||||||||||||||||
earnings per share - diluted | -1.04 | 0.413 | 0.19 | 0.87 | |||||||||||||||||||||||||||||||||||||||||||||
vehicles sales | |||||||||||||||||||||||||||||||||||||||||||||||||
insurance recovery | -3,135,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average number of common shares outstanding - fully diluted | 15,718,441 | ||||||||||||||||||||||||||||||||||||||||||||||||
transportation and vehicle logistics | 8,197,000 | 10,369,000 | 13,080,362 | 9,338,272 | 6,624,698 | 10,440,367 | 7,663,500 | 7,087,591 | |||||||||||||||||||||||||||||||||||||||||
cost of revenue | 9,354,898.5 | 17,248,588 | 12,649,704 | 7,521,301 | 3,400,338 | 3,478,124 | 114,643 | ||||||||||||||||||||||||||||||||||||||||||
cost of revenue before impairment loss | 354,516,000 | 183,827,000 | 148,834,378 | 93,085,541 | 62,999,162 | 100,453,349 | 75,884,559 | 133,999,850 | |||||||||||||||||||||||||||||||||||||||||
impairment loss on automotive inventory | 11,738,413 | ||||||||||||||||||||||||||||||||||||||||||||||||
stock-based compensation and other issuances | 5,985,750 | 23,943,000 | |||||||||||||||||||||||||||||||||||||||||||||||
forgiveness of ppp loan | 2,110,000 | 572,000 | |||||||||||||||||||||||||||||||||||||||||||||||
gain on early extinguishment of debt | 188,164 | ||||||||||||||||||||||||||||||||||||||||||||||||
income before benefit for income taxes | -10,266,500 | -33,225,000 | |||||||||||||||||||||||||||||||||||||||||||||||
benefit for income taxes | 2,670,250 | 10,681,000 | |||||||||||||||||||||||||||||||||||||||||||||||
weighted-average number of common shares outstanding - basic and fully diluted | 6,920,318,000 | 6,939,708,000 | 3,242,616 | 2,303,525 | 2,184,441 | 2,234,838 | 2,214,241 | 2,046,423 | 1,114,714 | 23,178,291 | 22,236,175 | 20,484,420 | 14,833,162 | 14,920,693 | 13,006,893 | 12,928,541 | 9,917,584 | ||||||||||||||||||||||||||||||||
pre-owned vehicle sales: | |||||||||||||||||||||||||||||||||||||||||||||||||
transportation | 10,695,165 | 7,349,342 | 5,862,734 | 5,088,059 | -1,393,884 | 6,058,546 | 6,017,888 | 5,341,412 | |||||||||||||||||||||||||||||||||||||||||
change in derivative and warrant liabilities | -2,235,670 | ||||||||||||||||||||||||||||||||||||||||||||||||
loss | -4,451,586 | ||||||||||||||||||||||||||||||||||||||||||||||||
other | 200,009 | 198,571 | 183,556 | ||||||||||||||||||||||||||||||||||||||||||||||
insurance recovery proceeds | -5,615,268 | ||||||||||||||||||||||||||||||||||||||||||||||||
loss on early extinguishment of debt | -2,998,500 | 1,499,250 | |||||||||||||||||||||||||||||||||||||||||||||||
loss in derivative liability | -116,815 | ||||||||||||||||||||||||||||||||||||||||||||||||
net loss before provision for income taxes | -22,038,342 | -15,027,368 | -8,871,781 | -13,001,599 | -8,276,305 | -9,825,371 | -7,006,244 | -4,736,326 | -3,613,876 | -1,283,155.75 | -2,317,503 | -1,892,227 | -922,895 | ||||||||||||||||||||||||||||||||||||
pre-owned vehicle sales | 10,205,441 | 18,975,968 | 13,818,116 | 8,027,680 | |||||||||||||||||||||||||||||||||||||||||||||
other sales and revenue | 106,999.25 | 279,054 | 96,418 | 52,525 | 24,657 | 134,573 | |||||||||||||||||||||||||||||||||||||||||||
expenses: | |||||||||||||||||||||||||||||||||||||||||||||||||
total expenses | 11,607,560 | 6,662,891 | 5,933,444 | 1,936,945 | |||||||||||||||||||||||||||||||||||||||||||||
revenue: used vehicle sales: | |||||||||||||||||||||||||||||||||||||||||||||||||
consumer | 406,716 | 1,626,864 | |||||||||||||||||||||||||||||||||||||||||||||||
dealer | 436,487 | 1,745,948 | |||||||||||||||||||||||||||||||||||||||||||||||
auction | 63,375 | 171,560 | |||||||||||||||||||||||||||||||||||||||||||||||
subscription and other fees | 25,167 | 27,197 | |||||||||||||||||||||||||||||||||||||||||||||||
weighted-average number of common shares outstanding – basic and fully diluted | 15,871,005,000 | 10,018,541 | |||||||||||||||||||||||||||||||||||||||||||||||
wholesale vehicle sales | 81,940 | ||||||||||||||||||||||||||||||||||||||||||||||||
subscription fees | 34,582 | ||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average number of common | |||||||||||||||||||||||||||||||||||||||||||||||||
shares outstanding – basic and diluted | 10,003,981 | ||||||||||||||||||||||||||||||||||||||||||||||||
revenue | 38,889 | ||||||||||||||||||||||||||||||||||||||||||||||||
costs and expenses: | |||||||||||||||||||||||||||||||||||||||||||||||||
cost of sales | 34,688 | ||||||||||||||||||||||||||||||||||||||||||||||||
general and administrative | 230,942 | 49,644 | 2,574 | 2,757 | 2,850 | 2,189 | 270 | 54 | 16 | 682 | 75 | 123 | 349 | ||||||||||||||||||||||||||||||||||||
technology development | 78,009 | ||||||||||||||||||||||||||||||||||||||||||||||||
professional fees | 346,257 | 116,552 | 20,651 | 12,522 | 3,151 | 9,001 | 5,614 | 8,808 | 12,200 | 3,100 | 54,860 | 42,380 | 26,926 | ||||||||||||||||||||||||||||||||||||
total costs and operating expenses | 749,981 | ||||||||||||||||||||||||||||||||||||||||||||||||
other expense: | |||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average common shares used in the computation of loss per share | |||||||||||||||||||||||||||||||||||||||||||||||||
basic and diluted | 7,263,492 | ||||||||||||||||||||||||||||||||||||||||||||||||
operating expenses: | |||||||||||||||||||||||||||||||||||||||||||||||||
professional fees - related party | 375 | 1,500 | 900 | 300 | 300 | ||||||||||||||||||||||||||||||||||||||||||||
total operating expenses | 165,963 | 25,200 | 15,754 | 6,476 | 12,565 | 6,359 | 9,637 | 12,991 | 5,457 | 55,410 | 42,503 | 27,275 | |||||||||||||||||||||||||||||||||||||
interest expense - related party | 18,914 | -2,681 | -2,359 | -2,176 | -1,989 | -1,972 | -1,743 | -1,553 | |||||||||||||||||||||||||||||||||||||||||
shares outstanding - basic | 1,375,000 | 5,500,000 | 5,500,000 | 5,500,000 | -206,849 | 5,224,453 | 5,168,478 | 5,000,000 | |||||||||||||||||||||||||||||||||||||||||
weighted-average number of | |||||||||||||||||||||||||||||||||||||||||||||||||
common shares outstanding - basic | 1,060,219 | 1,750,000 | 5,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||
see accompanying notes to financial statements. | |||||||||||||||||||||||||||||||||||||||||||||||||
consulting - related party | |||||||||||||||||||||||||||||||||||||||||||||||||
research and development |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-08-31 | 2016-05-31 | 2016-02-29 | 2015-11-30 | 2015-08-31 | 2015-05-31 | 2015-02-28 | 2014-11-30 | 2014-10-16 | 2014-05-31 | 2014-02-28 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||||||||||||||||||||||||||
current assets: | |||||||||||||||||||||||||||||||||||||||||||||
cash | 30,200,000 | 29,500,000 | 35,400,000 | 44,700,000 | 41,100,000 | 85,300,000 | 50,100,000 | 58,100,000 | 50,300,000 | 58,900,000 | 41,406,000 | 44,373,000 | 51,784,000 | 48,579,000 | 39,715,000 | 68,182,000 | 59,362,000 | 48,974,000 | 68,268,000 | 24,972,223 | 80,049 | 3,412,772 | 3,061,091 | 2,484,169 | 6,723,038 | 12,513,801 | 4,268,125 | 5,527,811 | 5,378,282 | 9,170,652 | 656,220 | 1,050,246 | 4,024,315 | 1,350,580 | 5,059 | 1,783 | 9,062 | 1,563 | 12,253 | 6,937 | 10,879 | 6,195 | 9,676 | 53,633 | 9,636 |
restricted cash | 16,200,000 | 13,400,000 | 16,400,000 | 15,100,000 | 15,100,000 | 11,400,000 | 16,600,000 | 13,000,000 | 13,100,000 | 18,100,000 | 18,046,000 | 12,776,000 | 10,000,000 | 10,000,000 | 9,500,000 | 9,500,000 | 9,500,000 | 3,000,000 | 3,049,000 | 3,049,056 | 2,049,056 | 5,545,892 | 5,533,832 | 5,502,322 | 6,671,118 | 6,719,743 | 6,650,000 | 256,806 | 200,000 | ||||||||||||||||
accounts receivable | 31,200,000 | 28,900,000 | 33,700,000 | 29,000,000 | 26,800,000 | 30,500,000 | 30,000,000 | 35,400,000 | 33,500,000 | 50,300,000 | 33,679,000 | 37,402,000 | 34,086,000 | 33,758,000 | 35,394,000 | 51,771,000 | 52,990,000 | 40,166,000 | 42,117,000 | 26,955,051 | 21,342,681 | 11,342,600 | 14,796,028 | 8,242,025 | 13,186,144 | 12,770,364 | 13,080,858 | 157,014 | 340,059 | 577,107 | 320,575 | 16,187 | |||||||||||||
inventory | 302,500,000 | 257,400,000 | 266,000,000 | 274,900,000 | 272,600,000 | 240,600,000 | 293,700,000 | 347,600,000 | 353,700,000 | 347,500,000 | 358,654,000 | 325,268,000 | 333,151,000 | 331,721,000 | 323,832,000 | 247,711,000 | 229,032,000 | 201,666,000 | 171,455,000 | 19,675,990 | 24,034,754 | 11,424,094 | 31,488,211 | 55,408,531 | 49,522,995 | 67,956,276 | 52,947,389 | 5,566,574 | 3,125,315 | 2,834,666 | |||||||||||||||
prepaid expense and other current assets | 4,700,000 | 5,500,000 | 6,800,000 | 2,500,000 | 2,700,000 | 3,600,000 | 4,200,000 | 2,600,000 | 3,800,000 | 6,000,000 | 5,654,000 | 7,336,000 | 38,092,000 | 7,424,000 | 7,079,000 | 6,911,000 | 5,891,000 | 6,335,000 | 4,745,000 | 4,058,905 | 4,050,991 | 2,506,910 | 1,131,320 | 1,369,648 | 1,358,152 | 520,005 | 772,256 | ||||||||||||||||||
total current assets | 384,800,000 | 334,700,000 | 358,300,000 | 366,200,000 | 358,300,000 | 371,400,000 | 394,600,000 | 456,700,000 | 454,400,000 | 480,800,000 | 478,994,000 | 452,310,000 | 467,113,000 | 431,482,000 | 415,520,000 | 384,075,000 | 356,775,000 | 300,141,000 | 289,634,000 | 78,711,225 | 51,557,531 | 34,232,268 | 56,010,482 | 73,006,695 | 77,461,447 | 100,480,189 | 77,718,628 | 11,820,863 | 9,260,482 | 12,891,305 | 2,519,385 | 2,612,720 | 4,080,621 | 1,352,247 | 10,059 | 9,283 | 9,062 | 1,563 | 12,253 | 6,937 | 10,879 | 6,195 | 9,676 | 53,633 | 9,636 |
property and equipment | 60,200,000 | 60,500,000 | 62,000,000 | 61,600,000 | 61,700,000 | 63,500,000 | 71,500,000 | 73,400,000 | 74,900,000 | 76,800,000 | 78,608,000 | 81,249,000 | 76,727,000 | 76,078,000 | 77,091,000 | 77,690,000 | 59,843,000 | 21,417,000 | 58,929,000 | 6,295,683 | 6,317,167 | 6,494,940 | 5,973,660 | 6,172,886 | 6,473,477 | 6,247,166 | 5,634,864 | 3,614,512 | 3,363,029 | 3,360,832 | 2,033,333 | 1,521,298 | |||||||||||||
right-of-use assets | 148,700,000 | 150,400,000 | 150,200,000 | 155,500,000 | 155,900,000 | 157,100,000 | 161,400,000 | 162,800,000 | 165,400,000 | 163,900,000 | 167,236,000 | 170,733,000 | 163,556,000 | 161,822,000 | 161,171,000 | 171,565,000 | 144,892,000 | 133,112,000 | 92,944,000 | 5,007,605 | 5,418,220 | 5,926,393 | 3,560,045 | 3,283,226 | |||||||||||||||||||||
franchise rights | 127,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
other assets | 1,000,000 | 1,000,000 | 1,100,000 | 1,200,000 | 1,200,000 | 1,300,000 | 1,500,000 | 1,500,000 | 1,500,000 | 1,500,000 | 1,574,000 | 1,645,000 | 1,765,000 | 31,158,000 | 31,861,000 | 25,547,000 | 9,090,000 | 10,091,000 | 3,678,000 | 221,712 | 159,409 | 174,457 | 70,637 | 82,648 | 120,581 | 96,633 | 102,178 | 103,235 | 46,572 | 50,693 | 45,515 | ||||||||||||||
total assets | 721,700,000 | 673,600,000 | 699,400,000 | 712,300,000 | 738,900,000 | 755,200,000 | 830,500,000 | 896,000,000 | 898,700,000 | 926,300,000 | 1,059,052,000 | 1,036,859,000 | 1,037,878,000 | 1,027,210,000 | 1,304,582,000 | 1,271,557,000 | 1,220,807,000 | 1,027,749,000 | 1,011,852,000 | 128,072,788 | 101,288,890 | 73,714,621 | 92,501,387 | 111,964,120 | 114,923,914 | 138,948,158 | 115,543,223 | 17,388,610 | 14,520,083 | 18,152,830 | 8,047,476 | 8,019,068 | 8,986,184 | 1,397,762 | 11,484 | 11,183 | 11,437 | 4,413 | 15,578 | 10,737 | 15,154 | 10,945 | 14,901 | 53,633 | 9,636 |
liabilities and stockholders' deficit | |||||||||||||||||||||||||||||||||||||||||||||
current liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
accounts payable and other current liabilities | 82,300,000 | 77,700,000 | 83,900,000 | 76,300,000 | 74,300,000 | 75,400,000 | 70,200,000 | 73,200,000 | 72,100,000 | 67,800,000 | 81,830,000 | 84,626,000 | 85,535,000 | 82,618,000 | |||||||||||||||||||||||||||||||
vehicle floor plan notes payable | 263,000,000 | 218,400,000 | 235,300,000 | 240,200,000 | 240,900,000 | 209,900,000 | 242,500,000 | 295,400,000 | 300,200,000 | 291,300,000 | |||||||||||||||||||||||||||||||||||
current portion of long-term debt | 900,000 | 400,000 | 400,000 | 400,000 | 400,000 | 39,100,000 | 39,200,000 | 39,200,000 | 39,200,000 | 35,600,000 | 6,151,000 | 27,251,151 | 32,826,176 | 17,640,426 | 40,815,937 | 62,799,557 | 53,566,398 | 66,341,312 | 64,499,342 | 3,615,291 | 585,072 | 1,081,593 | |||||||||||||||||||||||
total current liabilities | 346,200,000 | 296,500,000 | 319,600,000 | 316,900,000 | 315,600,000 | 324,400,000 | 351,900,000 | 407,800,000 | 411,500,000 | 395,000,000 | 384,371,000 | 349,964,000 | 351,579,000 | 311,694,000 | 278,531,000 | 247,661,000 | 230,706,000 | 179,071,000 | 166,989,000 | 42,094,968 | 51,700,369 | 30,128,751 | 52,689,229 | 75,375,563 | 66,642,819 | 81,655,514 | 81,247,635 | 5,521,323 | 1,934,736 | 2,294,763 | 3,430,815 | 1,295,572 | 750,684 | 219,101 | 12,851 | 146,220 | 112,299 | 111,799 | 110,399 | 94,199 | 66,979 | 24,779 | 3,279 | 1,600 | 100 |
long-term liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
long-term debt | 210,400,000 | 207,200,000 | 207,100,000 | 218,000,000 | 215,100,000 | 212,000,000 | 209,800,000 | 208,500,000 | 206,000,000 | 286,700,000 | |||||||||||||||||||||||||||||||||||
operating lease liabilities | 126,400,000 | 128,000,000 | 125,000,000 | 129,700,000 | 129,000,000 | 129,800,000 | 133,200,000 | 134,100,000 | 136,400,000 | 134,100,000 | 135,726,000 | 138,282,000 | 129,518,000 | 126,695,000 | 126,941,000 | 135,964,000 | 126,241,000 | 114,687,000 | 2,430,492 | ||||||||||||||||||||||||||
other long-term liabilities, including finance lease obligation | 54,900,000 | 54,600,000 | 52,400,000 | 52,300,000 | 52,300,000 | 52,200,000 | 52,100,000 | ||||||||||||||||||||||||||||||||||||||
total long-term liabilities | 391,700,000 | 389,600,000 | 386,700,000 | 400,100,000 | 396,400,000 | 394,100,000 | 395,300,000 | 394,800,000 | 394,500,000 | 425,700,000 | 499,550,000 | 504,255,000 | 494,275,000 | 509,501,000 | 534,444,000 | 537,933,000 | 520,925,000 | 417,033,000 | 435,933,000 | 50,015,973 | 47,735,426 | 34,076,105 | 32,651,863 | 31,189,125 | 21,885,315 | 22,714,213 | 4,047,946 | 4,998,517 | 1,506,524 | 1,492,075 | 1,436,673 | 1,383,768 | 85,220 | ||||||||||||
total liabilities | 737,900,000 | 686,100,000 | 706,300,000 | 717,000,000 | 712,000,000 | 718,500,000 | 747,200,000 | 802,600,000 | 806,000,000 | 820,700,000 | 883,921,000 | 854,219,000 | 845,854,000 | 821,195,000 | 812,975,000 | 751,631,000 | 596,104,000 | 602,922,000 | 92,110,941 | 99,435,795 | 64,204,856 | 85,341,092 | 106,564,688 | 88,528,134 | 104,369,727 | 85,295,581 | 10,519,840 | 3,441,260 | 3,786,838 | 4,867,488 | 2,679,340 | 2,344,148 | 304,321 | 211,799 | 185,617 | 167,758 | 157,085 | 153,693 | 135,521 | 128,558 | 109,805 | 106,809 | 88,618 | 50,899 | |
commitments and contingencies | |||||||||||||||||||||||||||||||||||||||||||||
stockholders' deficit: | |||||||||||||||||||||||||||||||||||||||||||||
class a common stock, 0.001 par value... | 50 | ||||||||||||||||||||||||||||||||||||||||||||
class b common stock, 0.001 par value... | 17,000 | 17,000 | 16,000 | 16,000 | 15,000 | 15,000 | |||||||||||||||||||||||||||||||||||||||
additional paid-in capital | 704,700,000 | 703,300,000 | 701,400,000 | 700,800,000 | 691,100,000 | 690,000,000 | 688,600,000 | 602,026,000 | 593,051,000 | 588,848,000 | 583,803,000 | 581,198,000 | 578,444,000 | 548,000,000 | 148,180,750 | 110,683,126 | 1,534,015 | ||||||||||||||||||||||||||||
accumulated deficit | -716,600,000 | -712,300,000 | -705,900,000 | -701,800,000 | -669,600,000 | -659,900,000 | -603,500,000 | -592,300,000 | -591,600,000 | -591,100,000 | -422,593,000 | -406,109,000 | -392,521,000 | -375,619,000 | -87,893,000 | -90,932,000 | -104,965,000 | -114,106,000 | -134,766,000 | -112,222,296 | -108,832,367 | -98,888,761 | -100,375,676 | -101,420,148 | -64,354,439 | -55,482,658 | -42,481,059 | -17,369,500 | -12,633,173 | -9,019,297 | -5,578,597 | -3,261,094 | -1,368,869 | -445,974 | -272,315 | -244,434 | -226,321 | -217,669 | -203,155 | -194,784 | -183,404 | -168,860 | -161,908 | ||
class b common stock | -4,300,000 | -4,300,000 | -4,300,000 | -4,300,000 | -4,300,000 | -4,300,000 | -4,300,000 | -4,300,000 | -4,300,000 | -4,300,000 | -4,319,000 | -4,319,000 | -4,319,000 | ||||||||||||||||||||||||||||||||
total stockholders' deficit | -16,200,000 | -152,669 | -124,784 | -113,404 | -98,860 | -91,908 | -34,985 | -41,263 | |||||||||||||||||||||||||||||||||||||
total liabilities and stockholders' deficit | 721,700,000 | 4,413 | 10,737 | 15,154 | 10,945 | 14,901 | 53,633 | 9,636 | |||||||||||||||||||||||||||||||||||||
franchise rights and other intangible assets | 127,000,000 | 127,800,000 | 127,800,000 | 161,800,000 | 161,900,000 | 201,500,000 | 201,600,000 | 202,500,000 | |||||||||||||||||||||||||||||||||||||
liabilities and stockholders' equity | |||||||||||||||||||||||||||||||||||||||||||||
other long-term liabilities | 54,400,000 | 52,300,000 | 4,500,000 | 8,783,000 | 9,230,000 | 8,974,000 | 8,422,000 | 7,494,000 | 7,451,000 | 10,455,000 | 8,995,000 | 7,765,000 | 5,399,716 | 3,470,617 | 4,968,931 | 1,655,202 | 2,223,919 | ||||||||||||||||||||||||||||
stockholders' equity | |||||||||||||||||||||||||||||||||||||||||||||
additional paid in capital | 704,100,000 | 700,900,000 | 701,000,000 | 585,937,000 | 550,055,000 | 108,396,284 | 107,533,741 | 106,817,379 | 90,727,000 | 90,037,964 | 72,707,614 | 24,225,192 | 23,699,067 | 23,372,360 | 8,749,566 | 8,591,803 | 8,051,924 | 66,500 | 64,500 | 64,500 | 64,500 | 64,500 | 64,500 | 64,500 | 64,500 | 64,500 | 64,500 | 15,000 | |||||||||||||||||
total stockholders' equity | -12,500,000 | -6,900,000 | -4,700,000 | 26,900,000 | 36,700,000 | 83,300,000 | 93,400,000 | 92,700,000 | 105,600,000 | 175,131,000 | 182,640,000 | 192,024,000 | 206,015,000 | 491,607,000 | 485,963,000 | 469,176,000 | 431,645,000 | 1,853,095 | 9,509,765 | 7,160,295 | 5,399,432 | 26,395,780 | 34,578,431 | 30,247,642 | 3,179,988 | 1,093,441 | -200,315 | -174,434 | -156,321 | -138,115 | |||||||||||||||
total liabilities and stockholders' equity | 673,600,000 | 699,400,000 | 712,300,000 | 738,900,000 | 755,200,000 | 830,500,000 | 896,000,000 | 898,700,000 | 926,300,000 | 1,059,052,000 | 1,036,859,000 | 1,037,878,000 | 1,027,210,000 | 1,304,582,000 | 1,271,557,000 | 1,220,807,000 | 1,027,749,000 | 101,288,890 | 73,714,621 | 92,501,387 | 111,964,120 | 114,923,914 | 138,948,158 | 115,543,223 | 8,047,476 | 1,397,762 | 11,484 | 11,183 | 11,437 | 15,578 | |||||||||||||||
stockholders' equity: | |||||||||||||||||||||||||||||||||||||||||||||
loans receivable held for sale | 21,555,000 | ||||||||||||||||||||||||||||||||||||||||||||
current assets of discontinued operations | 272,000 | ||||||||||||||||||||||||||||||||||||||||||||
goodwill | 800,000 | 23,897,000 | 23,897,000 | 24,003,000 | 21,142,000 | 266,059,000 | 253,415,000 | 348,318,000 | 260,922,000 | 263,107,000 | 26,886,563 | 26,886,563 | 26,886,563 | 26,886,563 | 26,886,563 | 28,736,563 | 29,055,016 | 28,804,327 | 1,850,000 | 1,850,000 | 1,850,000 | 3,240,000 | 3,240,000 | 3,240,000 | |||||||||||||||||||||
intangible assets | 202,500,000 | 240,457,000 | 242,387,000 | 244,900,000 | 247,413,000 | 352,880,000 | 359,265,000 | 301,889,000 | 302,066,000 | 303,560,000 | 121,765 | 133,015 | 144,265 | ||||||||||||||||||||||||||||||||
deferred tax assets | 68,251,000 | 64,603,000 | 59,814,000 | 58,115,000 | |||||||||||||||||||||||||||||||||||||||||
current liabilities of discontinued operations | 300,000 | 513,000 | 714,000 | ||||||||||||||||||||||||||||||||||||||||||
deferred taxes | 400,000 | ||||||||||||||||||||||||||||||||||||||||||||
assets of discontinued operations | 35,000 | 35,000 | |||||||||||||||||||||||||||||||||||||||||||
vehicle floorplan notes payable | 287,135,000 | ||||||||||||||||||||||||||||||||||||||||||||
current portion of long-term debt and line of credit | 14,893,000 | 18,186,000 | 21,036,000 | ||||||||||||||||||||||||||||||||||||||||||
secured debt | 271,671,000 | ||||||||||||||||||||||||||||||||||||||||||||
convertible debt | 34,196,000 | 33,394,000 | 32,626,000 | 31,890,000 | 31,185,000 | 30,509,000 | 29,862,000 | 29,242,000 | 28,648,000 | 28,079,484 | 27,572,970 | 26,681,826 | 26,333,584 | 26,082,706 | 19,720,113 | 19,350,294 | |||||||||||||||||||||||||||||
financing obligation and notes payable | 49,174,000 | ||||||||||||||||||||||||||||||||||||||||||||
treasury stock | -4,319,000 | ||||||||||||||||||||||||||||||||||||||||||||
assets held for sale | 24,883,000 | ||||||||||||||||||||||||||||||||||||||||||||
vehicle floor plan note payable | 246,438,000 | 245,008,000 | 225,431,000 | 175,296,000 | 138,986,000 | 122,994,000 | 97,278,000 | ||||||||||||||||||||||||||||||||||||||
senior secured note | 322,763,000 | 322,727,000 | 317,494,000 | 330,752,000 | 338,751,000 | 338,946,000 | 253,438,000 | ||||||||||||||||||||||||||||||||||||||
line of credit and notes payable | 586,000 | 430,000 | 25,000,000 | 22,925,000 | 13,650,000 | ||||||||||||||||||||||||||||||||||||||||
current portion of senior secured debt, convertible debt, and notes payable | 3,645,000 | ||||||||||||||||||||||||||||||||||||||||||||
long -term liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
deferred tax liabilities | 15,147,000 | 11,608,000 | 5,620,000 | 7,586,000 | 19,579,000 | ||||||||||||||||||||||||||||||||||||||||
class b stock | -4,319,000 | -4,319,000 | -4,319,000 | -4,319,000 | -4,319,000 | ||||||||||||||||||||||||||||||||||||||||
accounts payable and accrued liabilities | 76,266,000 | 83,310,000 | 81,893,000 | 57,068,000 | 73,384,000 | 12,821,750 | 17,523,899 | 16,449,683 | 1,179,216 | 1,902,543 | 1,262,093 | ||||||||||||||||||||||||||||||||||
current portion of lease liabilities | 23,324,000 | ||||||||||||||||||||||||||||||||||||||||||||
current portion of long-term, convertible debts, and notes payable | 3,645,000 | 2,534,000 | 4,277,000 | 4,476,000 | |||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.001 par value... | |||||||||||||||||||||||||||||||||||||||||||||
common a stock, 0.001 par value... | 50 | 50 | 50 | 50 | 50 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | |||||||||||||||||||||||||||||||||
common b stock, 0.001 par value... | 16,000 | 16,000 | 16,000 | 3,343 | 2,286 | 2,192 | 2,180 | 2,151 | 22,219 | 22,125 | 20,087 | 12,078 | 11,929 | 11,929 | 9,019 | ||||||||||||||||||||||||||||||
current portion lease liabilities | 22,831,000 | 21,542,000 | 20,249,000 | ||||||||||||||||||||||||||||||||||||||||||
notes payable | 6,928,000 | 150,000 | 567,000 | 1,414,937 | 1,372,959 | 1,333,334 | |||||||||||||||||||||||||||||||||||||||
financing lease liabilities | 2,873,000 | 2,869,000 | |||||||||||||||||||||||||||||||||||||||||||
derivative liabilities | 66,000 | 41,000 | 48,800 | 37,346 | 20,345 | 137,488 | 510,000 | 1,140,000 | |||||||||||||||||||||||||||||||||||||
liabilities and stockholders’ equity | |||||||||||||||||||||||||||||||||||||||||||||
floor plan notes payable | 87,175,000 | ||||||||||||||||||||||||||||||||||||||||||||
current portion of convertible debt | 279,000 | 415,113 | 522,391 | 960,338 | 999,061 | 1,156,911 | 1,234,936 | 1,077,933 | |||||||||||||||||||||||||||||||||||||
senior secured debt | 252,777,000 | ||||||||||||||||||||||||||||||||||||||||||||
long-term portion of operating lease liabilities | 85,965,000 | ||||||||||||||||||||||||||||||||||||||||||||
long-term portion of financing lease liabilities | 40,591,000 | ||||||||||||||||||||||||||||||||||||||||||||
stockholders’ equity: | |||||||||||||||||||||||||||||||||||||||||||||
total stockholders’ equity | 408,930,000 | 35,961,847 | 6,868,770 | 11,078,823 | 14,365,992 | 5,339,728 | 6,642,036 | ||||||||||||||||||||||||||||||||||||||
total liabilities and stockholders’ equity | 1,011,852,000 | 128,072,788 | 17,388,610 | 14,520,083 | 18,152,830 | 8,019,068 | 8,986,184 | ||||||||||||||||||||||||||||||||||||||
deferred finance charge | 10,950,000 | 10,950,000 | |||||||||||||||||||||||||||||||||||||||||||
accrued interest payable | 1,606,954 | 827,903 | 807,360 | 1,619,105 | 1,183,623 | 1,094,858 | 699,076 | 298,610 | 102,123 | 55,715 | 33,954 | 17,998 | 3,530 | 2,018 | 799 | ||||||||||||||||||||||||||||||
note payable | 4,691,181 | 4,691,181 | 1,974,218 | 2,847,662 | 1,617,454 | 4,998,517 | 1,506,524 | 1,459,410 | 100,000 | 85,000 | 50,000 | ||||||||||||||||||||||||||||||||||
warrant liability | 13,174,216 | 10,950,000 | |||||||||||||||||||||||||||||||||||||||||||
operating lease liabilities and other long-term liabilities | 4,022,292 | 4,483,929 | |||||||||||||||||||||||||||||||||||||||||||
class b preferred stock, 0.001 par value... | |||||||||||||||||||||||||||||||||||||||||||||
accounts payable and other accrued liabilities | 10,720,627 | 9,255,126 | 10,235,472 | 10,746,627 | 13,537,193 | 1,803,909 | 1,293,949 | ||||||||||||||||||||||||||||||||||||||
right-of-use asset | 5,815,328 | 2,131,846 | 3,069,154 | ||||||||||||||||||||||||||||||||||||||||||
prepaid expense | 262,658 | 216,826 | 308,880 | 123,513 | 171,929 | 1,667 | 5,000 | 7,500 | |||||||||||||||||||||||||||||||||||||
other current assets | 50,000 | 107,011 | |||||||||||||||||||||||||||||||||||||||||||
accrued interest payable - related party | 32,665 | 21,736 | 5,508 | 1,590 | 1,397 | 14,459 | 12,283 | 10,294 | 8,322 | 6,579 | |||||||||||||||||||||||||||||||||||
long term liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
deferred tax liability | 260,130 | 78,430 | |||||||||||||||||||||||||||||||||||||||||||
subscriptions receivable | -1,000 | -1,000 | -51,000 | -1,000 | -5,000 | ||||||||||||||||||||||||||||||||||||||||
vehicle inventory | 1,244,658 | 1,283,534 | |||||||||||||||||||||||||||||||||||||||||||
other | 174,419 | ||||||||||||||||||||||||||||||||||||||||||||
property and equipment - net of accumulated depreciation | 2,166,326 | ||||||||||||||||||||||||||||||||||||||||||||
current portion of long term debt | 1,510,274 | ||||||||||||||||||||||||||||||||||||||||||||
other current liabilities | 12,110 | ||||||||||||||||||||||||||||||||||||||||||||
accrued interest payable-current portion | 33,479 | ||||||||||||||||||||||||||||||||||||||||||||
accrued interest payable, excluding current portion | 10,809 | ||||||||||||||||||||||||||||||||||||||||||||
authorized, no shares issued and outstanding | |||||||||||||||||||||||||||||||||||||||||||||
as of june 30, 2017 and december 31, 2016 | 9,019 | ||||||||||||||||||||||||||||||||||||||||||||
authorized, 1,000,000 shares issued and outstanding | |||||||||||||||||||||||||||||||||||||||||||||
as of june 30, 2017 and none outstanding at december 31, 2016 | 1,000 | ||||||||||||||||||||||||||||||||||||||||||||
authorized, 9,018,541 and 6,400,000 shares issued and outstanding | |||||||||||||||||||||||||||||||||||||||||||||
prepaid expenses | 40,119 | ||||||||||||||||||||||||||||||||||||||||||||
accounts payable | 738,574 | 139,083 | 12,851 | 12,799 | 7,299 | 11,799 | 10,299 | 9,099 | 16,879 | 4,679 | 3,279 | 1,600 | 100 | ||||||||||||||||||||||||||||||||
total long term liabilities | 1,593,464 | 198,948 | 39,397 | 55,459 | 45,283 | 43,294 | 41,322 | 61,579 | 85,026 | 103,530 | 87,018 | 50,799 | |||||||||||||||||||||||||||||||||
authorized, 0 shares issued and outstanding | |||||||||||||||||||||||||||||||||||||||||||||
as of march 31, 2017 and december 31, 2016 | 1,000 | ||||||||||||||||||||||||||||||||||||||||||||
authorized, 1,000,000 and 0 shares issued and outstanding | |||||||||||||||||||||||||||||||||||||||||||||
authorized, 8,981,041 and 6,400,000 shares issued and outstanding | |||||||||||||||||||||||||||||||||||||||||||||
accounts payable-related party | 80,018 | ||||||||||||||||||||||||||||||||||||||||||||
current portion of note payable-related party | |||||||||||||||||||||||||||||||||||||||||||||
note payable-related party | |||||||||||||||||||||||||||||||||||||||||||||
convertible note payable - related party | 1,282 | 197,358 | |||||||||||||||||||||||||||||||||||||||||||
as of december 31, 2016, december 31, 2015 and november 30, 2015 | 6,400 | ||||||||||||||||||||||||||||||||||||||||||||
common stock, 0.001 par value... | 5,500 | 5,500 | |||||||||||||||||||||||||||||||||||||||||||
authorized, 6,400,000, 5,500,000 and 5,500,000 shares issued and outstanding | |||||||||||||||||||||||||||||||||||||||||||||
website | 1,425 | 1,900 | 2,375 | 2,850 | 3,325 | 3,800 | 4,275 | 4,750 | 5,225 | ||||||||||||||||||||||||||||||||||||
current portion of long term debt - related party | 118,000 | 105,000 | 100,000 | 100,000 | 85,000 | 50,000 | |||||||||||||||||||||||||||||||||||||||
note payable - related party | 38,000 | 41,000 | 33,000 | 33,000 | 33,000 | 55,000 | |||||||||||||||||||||||||||||||||||||||
authorized, no and no shares issued and outstanding | |||||||||||||||||||||||||||||||||||||||||||||
as of august 31, 2016 and november 30, 2015, respectively | 5,500 | ||||||||||||||||||||||||||||||||||||||||||||
authorized, 5,500,000 and 5,500,000 shares issued and outstanding | |||||||||||||||||||||||||||||||||||||||||||||
current portion of accrued interest payable - related party | 15,421 | ||||||||||||||||||||||||||||||||||||||||||||
as of february 29, 2016 and november 30, 2015, respectively | 5,500 | ||||||||||||||||||||||||||||||||||||||||||||
accounts payable - related party | 100 | 100 | 100 | ||||||||||||||||||||||||||||||||||||||||||
as of august 31, 2015 and november 30, 2014, respectively | 500 | ||||||||||||||||||||||||||||||||||||||||||||
authorized, 500,000 and 5,500,000 shares issued and outstanding | |||||||||||||||||||||||||||||||||||||||||||||
as of may 31, 2015 and november 30, 2014, respectively | 5,500 | ||||||||||||||||||||||||||||||||||||||||||||
authorized, 5,500,000 and 5,000,000 shares issued and outstanding | |||||||||||||||||||||||||||||||||||||||||||||
as of february 28, 2015 and november 30, 2014, respectively | 5,500 | ||||||||||||||||||||||||||||||||||||||||||||
accounts payable – related party | 100 | ||||||||||||||||||||||||||||||||||||||||||||
current portion of long term debt – related party | 20,000 | ||||||||||||||||||||||||||||||||||||||||||||
accrued interest payable – related party | 5,026 | ||||||||||||||||||||||||||||||||||||||||||||
note payable – related party | 80,000 | ||||||||||||||||||||||||||||||||||||||||||||
as of november 30, 2014 and 2013, respectively | 5,500 | ||||||||||||||||||||||||||||||||||||||||||||
as of august 31, 2014 and november 30, 2013, respectively | 5,500 | ||||||||||||||||||||||||||||||||||||||||||||
see accompanying notes to financial statements. | |||||||||||||||||||||||||||||||||||||||||||||
as of may 31, 2014 and november 30, 2013, respectively | 5,500 | ||||||||||||||||||||||||||||||||||||||||||||
authorized, 5,000,000 shares issued and outstanding | |||||||||||||||||||||||||||||||||||||||||||||
deficit accumulated during development stage | -104,985 | -61,263 | |||||||||||||||||||||||||||||||||||||||||||
as of february 28, 2014 and november 30, 2013, respectively | 5,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-05-31 | 2016-02-29 | 2015-11-30 | 2015-05-31 | 2015-02-28 | 2014-11-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | |||||||||||||||||||||||||||||||||
net loss | 20,660,000 | -22,543,485 | -3,389,929 | -4,451,586 | -5,492,020 | 1,486,915 | 1,044,472 | -22,038,342 | -13,001,599 | -8,276,305 | -9,825,371 | -7,006,243 | -4,736,327 | -3,613,876 | -3,440,700 | -2,317,503 | -1,892,225 | -922,895 | -169,932 | -26,765 | -8,652 | -14,554 | -25,924 | -14,544 | -6,952 | ||||||||
loss from discontinued operations | 0 | ||||||||||||||||||||||||||||||||
loss from continuing operations | |||||||||||||||||||||||||||||||||
adjustments to reconcile loss from continuing operations to net cash from operating activities: | |||||||||||||||||||||||||||||||||
depreciation and amortization | 4,729,000 | 7,275,000 | 5,255,000 | 4,741,000 | 6,156,000 | 6,570,000 | 5,879,000 | 4,474,000 | 3,155,000 | 1,716,934 | 631,826 | 599,240 | 575,242 | 536,380 | 508,322 | 522,995 | 427,438 | 382,225 | 312,742 | 247,669 | 217,828 | 205,767 | 365,770 | 129,277 | 113,335 | 60,085 | 475 | 950 | 475 | 475 | 950 | 475 | 475 |
amortization of debt discount and issuance costs | 3,076,000 | ||||||||||||||||||||||||||||||||
inventory write-down to net realizable value | |||||||||||||||||||||||||||||||||
stock-based compensation expense | |||||||||||||||||||||||||||||||||
loss on sale of property in sale-leaseback transaction | |||||||||||||||||||||||||||||||||
impairment of goodwill and franchise rights | |||||||||||||||||||||||||||||||||
deferred taxes | 68,636,000 | -3,648,000 | -4,789,000 | -1,699,000 | -80,583,000 | -77,000 | 5,989,000 | -1,966,000 | -11,576,000 | ||||||||||||||||||||||||
interest paid-in-kind capitalized to debt principal | |||||||||||||||||||||||||||||||||
gain on partial termination of warehouse lease | |||||||||||||||||||||||||||||||||
valuation allowance and loss on sale of loans receivable portfolio | |||||||||||||||||||||||||||||||||
changes in operating assets and liabilities, net of acquisitions: | |||||||||||||||||||||||||||||||||
accounts receivable | 3,239,000 | 3,723,000 | -5,142,000 | -4,220,000 | -51,000 | 2,338,000 | |||||||||||||||||||||||||||
inventory | -1,717,000 | -33,086,000 | 1,862,000 | 1,241,000 | -4,966,000 | -77,200,000 | |||||||||||||||||||||||||||
prepaid expenses and other current assets | -379,000 | 1,682,000 | -2,515,000 | 2,612,000 | 82,000 | 33,000 | |||||||||||||||||||||||||||
other assets | 123,000 | -36,000 | 201,000 | 12,000 | 4,063,000 | 15,347,000 | |||||||||||||||||||||||||||
other liabilities | -5,161,000 | -2,540,000 | 2,265,000 | 1,736,000 | 4,077,000 | 1,336,000 | |||||||||||||||||||||||||||
accounts payable and accrued liabilities | -8,129,000 | 2,352,000 | -1,467,000 | 2,844,000 | -13,831,000 | -6,545,000 | |||||||||||||||||||||||||||
floor plan trade note borrowings | -14,432,000 | 13,376,000 | 21,522,000 | 10,606,000 | |||||||||||||||||||||||||||||
net cash from operating activities of continuing operations | -19,575,000 | -13,031,000 | |||||||||||||||||||||||||||||||
cash flows from investing activities | |||||||||||||||||||||||||||||||||
cash from acquisitions, net of cash received | |||||||||||||||||||||||||||||||||
technology development | -342,000 | -692,000 | -564,000 | -502,000 | -815,000 | -2,726,000 | -1,710,000 | -1,752,000 | -605,000 | -360,695 | -510,343 | -394,962 | -546,988 | -983,954 | -323,737 | -290,376 | -1,039,740 | -879,829 | -766,045 | -778,593 | -432,101 | -185,968 | -71,689 | -144,433 | -163,306 | -127,358 | |||||||
proceeds from sale of property | |||||||||||||||||||||||||||||||||
purchase of property and equipment | -4,123,000 | -1,881,000 | -1,283,000 | -2,870,000 | -145,000 | -1,319,000 | 1,967,000 | -7,513,000 | 0 | 0 | -42,420 | -132,366 | 52,797 | 0 | -37,210 | -21,996 | -22,337 | -106,587 | -450,813 | -42,775 | |||||||||||||
net cash from investing activities of continuing operations | -6,239,000 | -2,491,000 | |||||||||||||||||||||||||||||||
cash flows from financing activities | |||||||||||||||||||||||||||||||||
increase in net borrowings from non-trade floor plans | |||||||||||||||||||||||||||||||||
proceeds from sale-leaseback transaction | |||||||||||||||||||||||||||||||||
repayments of debt | |||||||||||||||||||||||||||||||||
other | |||||||||||||||||||||||||||||||||
net proceeds from sale of common stock in rights offerings | |||||||||||||||||||||||||||||||||
net cash from financing activities of continuing operations | 43,324,000 | 18,055,000 | |||||||||||||||||||||||||||||||
cash flows from discontinued operations | |||||||||||||||||||||||||||||||||
net cash from operating activities | -38,000 | -229,000 | -5,188,000 | 8,855,000 | -23,543,000 | -45,318,000 | 18,700,000 | 31,274,000 | -2,398,000 | -12,313,791 | -4,527,864 | -12,937,345 | -9,054,269 | 25,619,637 | 20,045,118 | -19,467,259 | -27,018,311 | -6,476,740 | -8,560,922 | -6,088,064 | -5,915,882 | -2,887,885 | -5,234,365 | -1,643,006 | 47,886 | -27,780 | -10,501 | -10,690 | -17,358 | -316 | -3,481 | ||
capital expenditures | 0 | 0 | -4,123,000 | -1,881,000 | -1,283,000 | -2,870,000 | -145,000 | -1,319,000 | 1,967,000 | -7,513,000 | 0 | 0 | 0 | 0 | -42,420 | -132,366 | 0 | 0 | 52,797 | 0 | -37,210 | -21,996 | -22,337 | -106,587 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
free cash flows | -38,000 | -229,000 | -9,311,000 | 6,974,000 | -24,826,000 | -48,188,000 | 18,555,000 | 29,955,000 | -431,000 | -19,826,791 | -4,527,864 | -12,937,345 | -9,054,269 | 25,619,637 | 20,002,698 | -19,599,625 | -27,018,311 | -6,476,740 | -8,508,125 | -6,088,064 | -5,953,092 | -2,909,881 | -5,256,702 | -1,749,593 | 47,886 | -27,780 | -10,501 | -10,690 | -17,358 | -316 | -3,481 | ||
net cash from financing activities | 54,000 | 0 | -5,287,000 | 33,000 | 38,613,000 | 24,235,000 | -8,753,000 | 53,601,000 | -12,939,000 | 429,429,094 | 31,030,381 | 11,945,525 | 4,120,044 | -24,271,942 | -19,070,529 | 21,150,210 | 28,272,721 | 13,263,642 | 6,591,528 | -496,521 | 13,842,823 | 1,500,000 | 1,341,000 | 28,000 | 18,000 | 0 | 18,000 | 5,000 | 0 | ||||
net cash from discontinued operations | 16,000 | -229,000 | |||||||||||||||||||||||||||||||
net change in cash and restricted cash | |||||||||||||||||||||||||||||||||
cash and restricted cash at beginning of period | 0 | 58,579,000 | 0 | 0 | 0 | 51,974,000 | 0 | 113 | 0 | 3,515,887 | 0 | 0 | 0 | 6,726,282 | |||||||||||||||||||
cash and restricted cash at end of period | 17,548,000 | 2,303,000 | -4,635,000 | 61,784,000 | 9,364,000 | -28,467,000 | 8,820,000 | 68,862,000 | -19,343,000 | 43,295,721 | 25,892,174 | 2,129,105 | -5,442,777 | 363,741 | 608,432 | 7,986,491 | 6,396,985 | 206,335 | 5,578,282 | ||||||||||||||
income from discontinued operations | |||||||||||||||||||||||||||||||||
forgiveness of ppp loan | 0 | -2,110,000 | |||||||||||||||||||||||||||||||
stock based compensation expense | 4,910,000 | 2,911,000 | 2,135,000 | 2,605,000 | 2,753,000 | 1,879,000 | |||||||||||||||||||||||||||
impairment loss on goodwill and franchise rights | |||||||||||||||||||||||||||||||||
originations of loan receivables, net of principal payments received | 1,294,000 | 2,383,000 | 2,744,000 | -121,000 | |||||||||||||||||||||||||||||
increase in borrowings from non-trade floor plans | 21,116,000 | 4,076,000 | 28,614,000 | 25,704,000 | 1,073,000 | -5,843,000 | -10,501,000 | ||||||||||||||||||||||||||
proceeds from sale leaseback transaction | 282,000 | ||||||||||||||||||||||||||||||||
proceeds from issuance of debt | |||||||||||||||||||||||||||||||||
proceeds from rof credit facility for the purchase of consumer finance loans | 9,275,000 | ||||||||||||||||||||||||||||||||
repayments of debt, including finance leases | |||||||||||||||||||||||||||||||||
debt issuance costs | -13,000 | ||||||||||||||||||||||||||||||||
shares redeemed for employee tax obligations | |||||||||||||||||||||||||||||||||
net proceeds from sale of common stock in rights offering | |||||||||||||||||||||||||||||||||
net income | -16,484,000 | -13,588,000 | -16,902,000 | 3,039,000 | 14,033,000 | 9,141,000 | |||||||||||||||||||||||||||
net income from continuing operations | |||||||||||||||||||||||||||||||||
adjustments to reconcile net income from continuing operations to net cash from operating activities of continuing operations: | |||||||||||||||||||||||||||||||||
gain from change in value of derivatives | |||||||||||||||||||||||||||||||||
valuation allowance charge for loan receivable held for sale | |||||||||||||||||||||||||||||||||
floorplan trade note payable | |||||||||||||||||||||||||||||||||
payments for acquisitions, net of cash received | |||||||||||||||||||||||||||||||||
purchases of property and equipment | |||||||||||||||||||||||||||||||||
proceeds from new secured debt | 0 | 0 | 0 | 84,500,000 | |||||||||||||||||||||||||||||
repayment of debt and line of credit | -50,677,000 | ||||||||||||||||||||||||||||||||
payments for notes payable and finance leases | |||||||||||||||||||||||||||||||||
net borrowings from non-trade floor financing plans | |||||||||||||||||||||||||||||||||
net increase in cash and restricted cash | |||||||||||||||||||||||||||||||||
cash and restricted cash at beginning of period-continuing operations | |||||||||||||||||||||||||||||||||
cash and restricted cash at beginning of period-discontinued operations | |||||||||||||||||||||||||||||||||
cash and restricted cash at end of period, including discontinued operations | |||||||||||||||||||||||||||||||||
less cash at end of period - discontinued operations | |||||||||||||||||||||||||||||||||
net income from continued operations | |||||||||||||||||||||||||||||||||
adjustments to reconcile net income from continuing operations to net cash from operating activities: | |||||||||||||||||||||||||||||||||
amortization of debt discount | 2,440,000 | 2,324,000 | 2,447,000 | 567,000 | 1,434,000 | 1,935,000 | 360,233 | 52,878 | 49,914 | 47,114 | 184,199 | 52,252 | |||||||||||||||||||||
write-down of loan receivable assets | |||||||||||||||||||||||||||||||||
acquisitions, net of cash received | 0 | -3,300,000 | -1,788,000 | 728,000 | -64,916,000 | ||||||||||||||||||||||||||||
repayment of note payables | |||||||||||||||||||||||||||||||||
net increase in cash | |||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||||||||||||||||||
net cash from investing activities | -5,683,000 | -5,706,000 | -7,384,000 | -1,127,000 | -67,987,000 | -4,006,000 | -373,819,695 | -610,343 | -394,962 | -508,552 | -983,954 | -366,157 | -422,742 | -1,039,740 | -1,674,209 | -16,108,499 | -778,593 | -469,311 | -207,964 | -94,026 | -251,020 | 0 | |||||||||||
repayment of debt and notes payable | -4,043,000 | ||||||||||||||||||||||||||||||||
proceeds from issuance of notes | 6,541,000 | ||||||||||||||||||||||||||||||||
net change in cash | 3,205,000 | 9,364,000 | -28,467,000 | 8,820,000 | 16,888,000 | 25,892,174 | -1,386,782 | -5,442,777 | 363,741 | 608,432 | 1,260,209 | 8,315,419 | -4,866,777 | 3,603,300 | 6,396,985 | 206,335 | -3,592,370 | 8,514,432 | -394,026 | -2,974,069 | 2,673,735 | 220 | 7,499 | -10,690 | 642 | 4,684 | -3,481 | ||||||
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||||||||||||||||||
loss from change in value of derivatives | 0 | 0 | 0 | -39,000 | 25,000 | 6,517,678 | 2,235,670 | 20,652 | 20,345 | -144,315 | 116,815 | ||||||||||||||||||||||
cash from acquisitions; net of cash received | 0 | -835,000 | |||||||||||||||||||||||||||||||
repayments of debt and mortgage notes | -15,000,000 | -1,444,000 | -1,194,000 | -31,597,000 | |||||||||||||||||||||||||||||
repayments of issuance of notes | |||||||||||||||||||||||||||||||||
proceeds from rumbleon finance (“rof”) credit facility for the purchase of consumer finance loans | |||||||||||||||||||||||||||||||||
net proceeds from sale of common stock | 154,442,594 | 0 | 0 | 10,780,080 | |||||||||||||||||||||||||||||
changes in finance receivable related assets and liabilities: | |||||||||||||||||||||||||||||||||
originations of finance receivables, net of principal payments received | |||||||||||||||||||||||||||||||||
changes in operating assets and liabilities, excluding impact of acquisitions: | |||||||||||||||||||||||||||||||||
repayments of (proceeds from) issuance of notes | -25,000 | ||||||||||||||||||||||||||||||||
originations of finance receivables | |||||||||||||||||||||||||||||||||
principal payments received on finance receivables | |||||||||||||||||||||||||||||||||
changes in operating assets and liabilities: | |||||||||||||||||||||||||||||||||
increase in accounts receivable | -10,565,000 | -256,532 | |||||||||||||||||||||||||||||||
increase in inventory | -1,279,000 | 4,358,764 | -2,674,313 | 1,074,016 | -59,612 | -2,441,259 | -290,649 | -1,590,008 | |||||||||||||||||||||||||
decrease in prepaid expenses and other current assets | 658,000 | 1,098,680 | 238,329 | -159,175 | 252,251 | 324,689 | |||||||||||||||||||||||||||
increase in other assets | -2,498,000 | 1,057 | 0 | ||||||||||||||||||||||||||||||
increase in other liabilities | -2,062,000 | 3,342,000 | -214,296 | ||||||||||||||||||||||||||||||
increase in accounts payable and accrued liabilities | 17,304,000 | -13,293,000 | 4,695,873 | -2,914,363 | -806,848 | -507,657 | 35,300 | 509,960 | 114,733 | -723,327 | 631,323 | 516,918 | 535,201 | ||||||||||||||||||||
increase in lease right-of-use assets | -9,778,000 | ||||||||||||||||||||||||||||||||
increase in lease liabilities | 10,849,000 | ||||||||||||||||||||||||||||||||
increase in floor plan trade note borrowings | 13,221,000 | ||||||||||||||||||||||||||||||||
repayments of notes payable | |||||||||||||||||||||||||||||||||
bad debt expense | |||||||||||||||||||||||||||||||||
impairment loss on inventory | 0 | 0 | 0 | 11,738,413 | |||||||||||||||||||||||||||||
impairment loss on property and equipment | |||||||||||||||||||||||||||||||||
gain from extinguishment of debt | |||||||||||||||||||||||||||||||||
decrease in inventory | -19,883,000 | -9,936,347 | 20,064,117 | 23,920,320 | -9,765,663 | 2,106,138 | |||||||||||||||||||||||||||
increase in prepaid expenses and other current assets | -604,766 | ||||||||||||||||||||||||||||||||
decrease in other assets | -1,076,000 | -3,371,450 | -72,217 | -8,333 | 23,381 | -103,820 | 12,011 | 155,175 | 4,121 | ||||||||||||||||||||||||
proceeds from sales of property and equipment | 0 | 40,620 | |||||||||||||||||||||||||||||||
proceeds from convertible note | |||||||||||||||||||||||||||||||||
proceeds from senior secured debt | 0 | ||||||||||||||||||||||||||||||||
proceeds from ppp loan | 0 | 0 | |||||||||||||||||||||||||||||||
proceeds from sale of common stock | 8,629,772 | 6,525,775 | 20,086,155 | 14,411,230 | 0 | 200,000 | 3,113,040 | 1,349,000 | 5,000 | 5,000 | |||||||||||||||||||||||
adjustments to reconcile net loss to net cash (used in) provided by operating activities: | |||||||||||||||||||||||||||||||||
amortization of debt discounts | 1,133,924 | 591,236 | 558,840 | 446,792 | 424,143 | 627,755 | 502,904 | 211,725 | |||||||||||||||||||||||||
share based compensation | 24,729,709 | 701,275 | 1,734,016 | 862,555 | 716,391 | 846,370 | |||||||||||||||||||||||||||
gain on early extinguishment of debt | -188,164 | ||||||||||||||||||||||||||||||||
(increase) in accounts receivable | 11,071,091 | 3,453,429 | -16,187 | ||||||||||||||||||||||||||||||
decrease in floor plan trade note borrowings | |||||||||||||||||||||||||||||||||
cash from acquisition, net of cash received | |||||||||||||||||||||||||||||||||
(repayments of) proceeds from notes payable | |||||||||||||||||||||||||||||||||
net proceeds from ppp loan | |||||||||||||||||||||||||||||||||
decrease in accounts payable and accrued liabilities | 1,040,259 | -556,034 | -2,176,064 | ||||||||||||||||||||||||||||||
decrease in other liabilities | |||||||||||||||||||||||||||||||||
increase in accrued interest payable | 779,051 | -657,951 | 1,138,494 | -811,745 | 435,482 | 434,318 | 400,466 | 92,573 | 145,379 | ||||||||||||||||||||||||
proceeds from notes payable | 0 | 2,500,000 | 0 | 8,272,375 | |||||||||||||||||||||||||||||
payments on notes payable | -1,397,098 | -192,000 | |||||||||||||||||||||||||||||||
net proceeds from lines of credit | |||||||||||||||||||||||||||||||||
proceeds from ppp loans | |||||||||||||||||||||||||||||||||
decrease in accounts receivable | -11,934,721 | 240,682 | 51,693 | -1,200,058 | -36,121 | ||||||||||||||||||||||||||||
net proceeds from line of credit | 10,842,623 | ||||||||||||||||||||||||||||||||
loss from extinguishment of debt | 0 | 0 | |||||||||||||||||||||||||||||||
goodwill impairment | |||||||||||||||||||||||||||||||||
(increase) in prepaid expenses and other current assets | -939,315 | ||||||||||||||||||||||||||||||||
net cash from acquisitions | |||||||||||||||||||||||||||||||||
proceeds from notes payable and convertible debt | 0 | ||||||||||||||||||||||||||||||||
repayments for notes payable | |||||||||||||||||||||||||||||||||
net proceeds from (payments on) lines of credit | |||||||||||||||||||||||||||||||||
impairment loss on fixed assets | 0 | 0 | 177,626 | ||||||||||||||||||||||||||||||
net repayments on lines of credit | |||||||||||||||||||||||||||||||||
net proceeds (repayments) on lines of credit | |||||||||||||||||||||||||||||||||
net proceeds (repayments) on line of credit | 2,097,755 | ||||||||||||||||||||||||||||||||
(increase) in inventory | |||||||||||||||||||||||||||||||||
(increase) in other assets | |||||||||||||||||||||||||||||||||
income from change in value of derivatives | |||||||||||||||||||||||||||||||||
cash at beginning of period | 0 | 15,784,902 | 0 | 0 | 0 | 9,170,652 | 0 | 0 | 0 | 1,350,580 | 2,150 | 1,563 | 1,563 | 0 | 6,195 | 6,195 | 0 | ||||||||||||||||
cash at end of period | 8,315,419 | 10,918,125 | 8,514,432 | -394,026 | -2,974,069 | 4,024,315 | 1,345,521 | 1,783 | 9,062 | -10,690 | 6,837 | 10,879 | -3,481 | ||||||||||||||||||||
share based compensation expense | 689,121 | 563,896 | 417,689 | 349,388 | 326,707 | 215,473 | |||||||||||||||||||||||||||
proceeds from note payable | 247,817 | 6,591,528 | 585,072 | 1,081,593 | 1,500,000 | 0 | 667,000 | 0 | |||||||||||||||||||||||||
net repayments on line of credit | -3,241,603 | ||||||||||||||||||||||||||||||||
net cash provided (used in) financing activities | 3,284,172 | ||||||||||||||||||||||||||||||||
interest expense on conversion of debt | 0 | 0 | 0 | 196,076 | |||||||||||||||||||||||||||||
amortization of debt issuance costs | 88,950 | ||||||||||||||||||||||||||||||||
decrease in prepaid expenses | 130,226 | -45,833 | 92,054 | ||||||||||||||||||||||||||||||
increase in other current assets | |||||||||||||||||||||||||||||||||
cash from acquisitions | 0 | 0 | |||||||||||||||||||||||||||||||
repayments of line of credit-floor plan | 0 | 0 | -1,081,593 | ||||||||||||||||||||||||||||||
decrease in accrued interest payable | 46,408 | -10,904 | |||||||||||||||||||||||||||||||
decreasein accounts receivable | 237,048 | ||||||||||||||||||||||||||||||||
purchase of other assets | |||||||||||||||||||||||||||||||||
impairment of asset | |||||||||||||||||||||||||||||||||
increase in deferred tax liability | |||||||||||||||||||||||||||||||||
increase in prepaid expenses | -185,367 | ||||||||||||||||||||||||||||||||
donated capital | 0 | ||||||||||||||||||||||||||||||||
adjustments to reconcile net income | |||||||||||||||||||||||||||||||||
to net cash from operating activities: | |||||||||||||||||||||||||||||||||
increase in accrued interest payable - related party | 3,199 | 4,535 | 2,176 | 1,989 | 3,296 | 1,553 | |||||||||||||||||||||||||||
repayments for note payable - related party | 0 | ||||||||||||||||||||||||||||||||
adjustments to reconcile net loss | |||||||||||||||||||||||||||||||||
(increase) in prepaid expenses | -131,810 | -38,452 | -7,500 | ||||||||||||||||||||||||||||||
(increase) in other current assets | |||||||||||||||||||||||||||||||||
cash from operating activities | -186,172 | ||||||||||||||||||||||||||||||||
acquisition of assets | -750,000 | ||||||||||||||||||||||||||||||||
cash from investing activities | -920,133 | ||||||||||||||||||||||||||||||||
borrowings for note payable - related party | |||||||||||||||||||||||||||||||||
cash from financing activities | 3,780,040 | ||||||||||||||||||||||||||||||||
amortization of beneficial conversion feature | |||||||||||||||||||||||||||||||||
increase in accounts payable | 129,232 | 1,000 | -4,500 | 4,420 | 12,200 | ||||||||||||||||||||||||||||
increase in accounts payable - related party | |||||||||||||||||||||||||||||||||
proceeds from note payable - related party | -8,000 | 23,000 | 13,000 | 18,000 | 5,000 | ||||||||||||||||||||||||||||
payments for the purchase of treasury stock | 0 | ||||||||||||||||||||||||||||||||
supplemental information: | |||||||||||||||||||||||||||||||||
interest paid | |||||||||||||||||||||||||||||||||
income taxes paid | |||||||||||||||||||||||||||||||||
(decrease) in accounts payable - related party | -100 | ||||||||||||||||||||||||||||||||
increase in accounts payable and accounts payable - related party | |||||||||||||||||||||||||||||||||
website development costs | 0 | ||||||||||||||||||||||||||||||||
proceeds from the sale of common stock | |||||||||||||||||||||||||||||||||
stock issued for services - related party | |||||||||||||||||||||||||||||||||
increase in accounts payable and accounts payable – related party | |||||||||||||||||||||||||||||||||
increase in accrued interest payable – related party | |||||||||||||||||||||||||||||||||
non-cash investing and financing activities: | |||||||||||||||||||||||||||||||||
stock issued for executive compensation - related party | |||||||||||||||||||||||||||||||||
see accompanying notes to financial statements. | |||||||||||||||||||||||||||||||||
· | |||||||||||||||||||||||||||||||||
cash, beginning | |||||||||||||||||||||||||||||||||
cash, ending |