Rumble
(NASDAQ:RUM)

Rumble is an online video platform, web hosting and cloud services business headquartered in Toronto, Ontario, with its U.S. headquarters in Longboat Key, Florida. It was founded in 2013 by Chris Pavlovski, a Canadian technology entrepreneur.

Website: https://rumble.com/

Founded: 2013

CEO / Founder: Chris Pavlovski

Sector: REAL ESTATE & CONSTRUCTION

Industry: BLANK CHECKS

SPAC Technology

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• Market Cap:

• Exchange:

• Shs Outstanding:

• Employees:

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At a glance:

Bull Thesis:

Bear Thesis:

Main Competitors:

Moat:

Income Statements:

Quarterly

Annual

Unit: USD	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	2014-10-24	2014-10-16	2014-08-31	2014-05-31	2014-02-28

revenue:
powersports vehicles	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	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	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	1,000,000	1,300,000	5,500,000	13,400,000	15,100,000	15,200,000	14,300,000
total revenue	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	111,324,651	19,255,022	13,914,534	8,080,205	3,444,349	3,706,142	116,522
yoy	-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%	14.04%	1044.22%	1841.71%	2662.03%	3132.10%	419.54%	11841.55%
qoq	-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%	100.47%	478.16%	38.38%	72.21%	134.59%	-7.06%	3080.64%
cost of revenue:
total cost of revenue	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	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	7,738,161	2,006,434	1,264,830
yoy	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%	16.24%	498.80%	1134.75%
qoq	-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%	80.81%	285.67%	58.63%
gross margin %	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%	6.95%	10.42%	9.09%	0%	0%	0%	0%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%		NaN%	NaN%	NaN%	NaN%	NaN%
selling, general and administrative	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	16,166,923	8,431,561	5,545,509	3,880,492	2,896,783	2,326,043	1,708,967
depreciation and amortization	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	311,508	247,669	217,827	205,767	365,770	129,277	113,335	60,085	356.25	475	475	475	475	475	475	475		475	475	475
impairment of franchise rights		34,000,000
operating income	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	-8,740,270	-6,672,796	-4,498,506	-3,527,355	-3,218,542	-2,227,302	-1,820,423
yoy	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%	56.45%	11.95%	118.24%	93.66%	171.56%	199.59%	147.11%
qoq	-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%	-21.84%	30.98%	48.33%	27.53%	9.59%	44.50%	22.35%
operating margin %	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%	-7.85%	-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%	NaN%
other income:
floor plan interest expense	-3,100,000	-2,600,000	-2,800,000	-3,300,000	-4,400,000	-4,300,000	-4,000,000
other interest expense	-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	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	-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																																			-863.75	-1,513
income before income taxes	-4,000,000	-32,100,000	-9,600,000
income tax expense	100,000	100,000	100,000
net income	-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	-3,839,111.5	-7,006,244	-4,736,326	-3,613,876	-3,440,700	-2,317,503	-1,892,227	-922,895	-1,725,130	-27,881	-18,113	-8,652	-14,554	-8,331	-11,380	-14,544		-6,952	-56,923	-56,923	-43,722	-27,998
yoy	-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%	291.43%	26.63%	174.51%	129.01%	11.58%	202.32%	150.30%	291.58%	99.45%	8212.12%	10346.79%	10566.84%	11753.30%	234.67%	59.17%	-40.51%		19.84%	-80.01%	-74.45%		-75.17%
qoq	-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%	115.58%	-45.20%	47.93%	31.06%	5.03%	48.47%	22.47%	105.03%	-46.50%	6087.48%	53.93%	109.35%	-40.55%	74.70%	-26.79%	-21.75%			-87.79%	0.00%	30.19%	56.16%
net income margin %	-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%	-3.45%	-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%	-Infinity%
weighted-average shares - basic and diluted	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	-0.85	-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	-0.283	-0.47	-0.36	-0.28	-0.3	-0.23	-0.19	-0.13	-0.005	-0.02								-0.01	-0.01	-0.01	-0.01	-0.01
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	-1,513	-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		14,920,693	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 income before benefit from income taxes																							-22,038,342	-15,027,368	-8,871,781	-13,001,599	-8,276,305	-3,839,111.5	-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	2,045.25	2,574	2,757	2,850	2,189	270	54	16		682	75	75	123	349
technology development																																			78,009
professional fees																																			346,257	9,081	20,651	12,522	3,151	9,001	5,614	8,808	12,200		3,100	54,860	54,860	42,380	26,926
total costs and operating expenses																																			749,981
total other income																																			211,803	-1,804	-2,681	-2,359	-2,176	-1,989	-1,972	-1,743	-1,553				-1,513	-1,219	-723
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																																				11,857.5	25,200	15,754	6,476	12,565	6,359	9,637	12,991		5,457	55,410	55,410	42,503	27,275
interest expense - related party																																				-1,804	-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	5,224,453	5,168,478	5,000,000
weighted-average number of
common shares outstanding - basic																																								1,060,219	1,750,000	5,500,000
other expense:
see accompanying notes to financial statements.
consulting - related party
research and development

Balance Sheets:

Quarterly

Annual

Unit: USD	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	2014-08-31	2014-05-31	2014-02-28

assets
current assets:
cash	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	1,466,831	3,412,772	3,061,091	2,484,169	49,660	6,723,038	12,513,801	4,268,125	9,134,902	11,831,602	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	9,676	53,633	9,636
restricted cash	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	2,049,056	5,545,892	5,533,832	5,502,322	6,676,622	6,671,118	6,719,743	6,650,000	6,650,000	350,000	256,806	200,000
accounts receivable	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	9,407,960	11,342,600	14,796,028	8,242,025	8,482,707	13,186,144	12,770,364	13,080,858	8,465,810	193,135	157,014	340,059	577,107	320,575		16,187
inventory	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	21,360,441	11,424,094	31,488,211	55,408,531	57,381,281	49,522,995	67,956,276	52,947,389	52,191,523	5,626,186	5,566,574	3,125,315	2,834,666
prepaid expense and other current assets	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	3,446,225	2,506,910	1,131,320	1,369,648	1,210,474	1,358,152	520,005	772,256	1,096,945
total current assets	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	37,730,513	34,232,268	56,010,482	73,006,695	73,800,744	77,461,447	100,480,189	77,718,628	77,539,180	18,133,356	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	9,676	53,633	9,636
property and equipment	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	6,521,446	6,494,940	5,973,660	6,172,886	6,427,674	6,473,477	6,247,166	5,634,864	5,177,877	4,145,437	3,614,512	3,363,029	3,360,832		2,033,333	1,521,298
right-of-use assets	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	5,689,637	5,926,393	3,560,045		6,040,287			3,283,226
franchise rights and other intangible assets	127,800,000	127,800,000	161,800,000	161,900,000	201,500,000	201,600,000	202,500,000
other assets	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	151,076	174,457	70,637	82,648	237,823	120,581	96,633	102,178	102,178	103,235	103,235	46,572	50,693				45,515
total assets	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	76,979,235	73,714,621	92,501,387	111,964,120	113,393,091	114,923,914	138,948,158	115,543,223	108,926,381	24,232,028	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	14,901	53,633	9,636
liabilities and stockholders' equity
current liabilities:
accounts payable and other current liabilities	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	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	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	20,688,651	17,640,426	40,815,937	62,799,557	59,160,970	53,566,398	66,341,312	64,499,342	58,555,006	4,349,746	3,615,291	585,072	1,081,593
total current liabilities	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	35,444,455	30,128,751	52,689,229	75,375,563	73,694,959	66,642,819	81,655,514	81,247,635	69,315,956	6,282,280	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	3,279	1,600	100
long-term liabilities:
long-term debt	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	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	54,600,000	52,400,000	52,300,000		52,300,000	52,200,000	52,100,000
total long-term liabilities	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	36,964,115	34,076,105	32,651,863	31,189,125	26,810,563	21,885,315	22,714,213	4,047,946	8,792,919	4,653,708	4,998,517	1,506,524	1,492,075	1,436,673	1,383,768		85,220
total liabilities	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	72,408,570	64,204,856	85,341,092	106,564,688	100,505,522	88,528,134	104,369,727	85,295,581	78,108,875	10,935,988	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	106,809	88,618	50,899
commitments and contingencies
stockholders' equity
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	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	-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	-104,380,781	-98,888,761	-100,375,676	-101,420,148	-79,381,806	-64,354,439	-55,482,658	-42,481,059	-34,201,114	-24,375,743	-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	-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		-4,319,000	-4,319,000						-4,319,000
total stockholders' equity	-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	4,570,665	9,509,765	7,160,295	5,399,432	12,887,569	26,395,780	34,578,431	30,247,642	30,817,506					3,179,988			1,093,441	-200,315	-174,434	-156,321		-138,115
total liabilities and stockholders' equity	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	76,979,235	73,714,621	92,501,387	111,964,120	113,393,091	114,923,914	138,948,158	115,543,223	108,926,381					8,047,476			1,397,762	11,484	11,183	11,437		15,578
stockholders' equity:
other long-term liabilities				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
additional paid in capital				700,900,000				701,000,000				585,937,000				550,055,000				108,949,204	108,396,284	107,533,741	106,817,379	92,268,213	90,727,000	90,037,964	72,707,614	64,998,817	37,656,377	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	64,500	15,000
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	26,886,563	26,886,563	28,736,563	29,055,016	28,804,327	26,107,146	1,850,000	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	27,166,019	26,681,826	26,333,584	26,082,706	20,136,229	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	12,707,448				12,421,094			16,449,683	10,554,913				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	50	50	1,000	1,000	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	2,192	2,180	2,151	1,112	22,219	22,125	20,087	17,486	14,406	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			4,691,181				1,924,733					4,653,708				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	16,694	20,345		137,488	27,500	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	562,502	960,338	999,061	1,156,911	1,363,590	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											13,296,040	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											24,232,028	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	1,485,854	807,360	1,619,105	1,183,623	749,305	1,094,858	699,076	298,610	206,037	93,324	102,123	55,715	33,954	17,998												3,530	3,530	2,018	799
note payable																		4,691,181	4,691,181		1,974,218	2,847,662					1,617,454	8,792,919		4,998,517	1,506,524	1,459,410													100,000	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	5,090,221
class b preferred stock, 0.001 par value...																												1,317
revenue:
pre-owned vehicle sales:
powersports																				46,653,668				101,008,976				61,204,416
automotive																				337,084,959				717,042,511				90,094,536
transportation and vehicle logistics																				31,816,157				22,577,860
other																				872,459								1,275,460					174,419
total revenue																				416,427,243				840,629,347				156,398,231	19,255,022
cost of revenue:
cost of revenue before impairment loss																				373,061,431
impairment loss on automotive inventory																				11,738,413
total cost of revenue																				384,799,844				790,011,371				143,761,940
gross profit																				31,627,399				50,617,976				12,636,291	2,006,434
selling, general and administrative																				53,659,348				86,624,249				35,053,417	8,431,561
insurance recovery proceeds																				-5,615,268
depreciation and amortization																				2,142,939				1,786,426				984,006	247,669
operating income																				-18,559,620				-37,792,699				-23,401,132	-6,672,796
interest expense																				-6,638,325				-7,187,604				1,780,685	333,448
decrease in derivative liability																				10,806				1,302,500
gain on early extinguishment of debt																				188,164
net income before benefit from income taxes																				-24,998,975				-45,177,053				-25,181,817	-7,006,244
benefit for income taxes
net income																				-24,998,975				-45,177,053				-25,181,817	-7,006,244
weighted-average number of common shares outstanding - basic and fully diluted																				2,184,441				1,114,714				14,833,162	14,920,693
net income per share																				-11.44				-40.53				-1.7	-0.47
accounts payable and other accrued liabilities																					10,720,627	9,255,126	10,235,472		10,746,627	13,537,193			1,839,210	1,803,909	1,293,949
right-of-use asset																							5,815,328		2,131,846	3,069,154
operating lease liability, long-term portion																								4,722,101
transportation																								16,023,962				3,823,819
loss on early extinguishment of debt																								-1,499,250
other liabilities
prepaid expense																													132,433	262,658	216,826	308,880	123,513	171,929		1,667	5,000	7,500
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
pre-owned vehicle sales																													18,975,968
other sales and revenue																													279,054
cost of revenue																													17,248,588
other current assets																														50,000				107,011
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
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	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	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	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
stockholders' deficit:
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
liabilities and stockholders' deficit
accounts payable - related party																																									100	100	100
total stockholders' deficit																																								-152,669		-124,784	-113,404	-98,860	-91,908	-91,908	-34,985	-41,263
total liabilities and stockholders' deficit																																								4,413		10,737	15,154	10,945	14,901	14,901	53,633	9,636
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	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	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

cash flows from operating activities
net loss	-4,100,000	-32,200,000	-9,700,000	-56,400,000	-11,200,000											20,660,000	-22,543,485	-3,389,929	-4,451,586	-5,492,020	1,486,915
adjustments to reconcile net loss to net cash from operating activities:
depreciation and amortization	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	5,255,000	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	503,093	473,670	427,438	382,225		247,669	217,828	205,767	365,770	129,277	113,335	60,085		475	475	475	475	475	475	475
amortization of debt discount and issuance costs								3,076,000
stock-based compensation	800,000	600,000	-100,000		1,100,000	1,400,000	1,400,000
impairment of franchise rights	0
deferred taxes				0	0	0	-400,000	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	600,000	500,000	800,000	800,000	100,000
gain on lease termination
changes in operating assets and liabilities:
accounts receivable	-4,700,000	-2,200,000	3,700,000	-500,000	5,400,000	-1,900,000	16,800,000	3,239,000	3,723,000	-5,142,000	-4,220,000	-51,000	2,338,000
inventory	8,900,000	-2,300,000	-32,000,000	53,200,000	54,800,000	6,100,000	-6,200,000	-1,717,000	-33,086,000	1,862,000	1,241,000	-4,966,000	-77,200,000
prepaid expenses and other assets	-4,100,000	200,000	900,000		-1,600,000
other liabilities	800,000	1,400,000	300,000	300,000	900,000	1,500,000	400,000	-5,161,000	-2,540,000	2,265,000	1,736,000	4,077,000	1,336,000
accounts payable and accrued liabilities	7,100,000	2,400,000	-100,000	4,500,000	-3,300,000	900,000	4,100,000	-8,129,000	2,352,000	-1,467,000	2,844,000	-13,831,000	-6,545,000
floor plan trade note borrowings	2,200,000	4,000,000	24,500,000	-18,900,000	-12,400,000	12,700,000	-10,700,000			-14,432,000	13,376,000	21,522,000	10,606,000
net cash from operating activities	11,500,000	10,900,000	-6,900,000		39,400,000	26,200,000	3,000,000	-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	-13,954,396	7,702,117	-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	-40,082	-17,279	-10,501	-10,690	-4,584	-17,042	-316
capital expenditures	-2,100,000	-2,400,000	-500,000		-600,000	0	-1,000,000	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	0	0	0	0	-37,210	-21,996	-22,337	-106,587			0	0	0	0	0	0	0	0
free cash flows	9,400,000	8,500,000	-7,400,000		38,800,000	26,200,000	2,000,000	-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	-13,954,396	7,702,117	-27,018,311	-6,476,740	-8,560,922	-6,088,064	-5,953,092	-2,909,881	-5,256,702	-1,749,593			47,886	-40,082	-17,279	-10,501	-10,690	-4,584	-17,042	-316
cash flows from investing activities
acquisition, net of cash received
purchase of property and equipment	-2,100,000	-2,400,000	-500,000	-400,000	-600,000	0	-1,000,000			-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						0	-37,210	-21,996	-22,337	-106,587	-450,813	-42,775
technology development				0	0	-300,000	-100,000	-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	-466,192	-699,982	-1,039,740	-879,829		-778,593	-432,101	-185,968	-71,689	-144,433	-163,306	-127,358
net cash from investing activities	-2,200,000	-2,400,000	-500,000		-1,300,000	-300,000	-1,100,000				-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	-457,292	-699,982	-1,039,740	-1,674,209	-16,108,499	-778,593	-469,311	-207,964	-94,026	-251,020
cash flows from financing activities
proceeds from issuance of debt
repayments of debt	-20,100,000	-200,000	-38,800,000	-500,000	0	-200,000	-35,300,000
net increase in borrowings from non-trade floor plans	-7,100,000	-4,700,000	6,500,000		-41,400,000
other	-100,000	0	-800,000																						-9,967	-459,534	477,891
net cash from financing activities	-17,300,000	-4,900,000	-33,100,000		-42,500,000	-18,200,000	-15,500,000	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	7,743,814	-12,841,523			28,272,721	13,263,642	6,591,528	-496,521	13,842,823	1,500,000			1,341,000	43,358	10,000	18,000	0	10,000	13,000	5,000
net change in cash and restricted cash	-8,000,000	3,600,000	-40,500,000	30,000,000	-4,400,000	7,700,000	-13,600,000
cash and restricted cash at beginning of period	0	0	96,700,000	0	0	0	77,000,000			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	-8,000,000	3,600,000	56,200,000	30,000,000	-4,400,000	7,700,000	63,400,000	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
new retail vehicles	-7,700,000	34,700,000	120,100,000
pre-owned retail vehicles	-5,700,000	11,100,000	48,100,000
wholesale vehicles	-1,300,000	1,200,000	3,800,000
total powersports vehicles	-14,700,000	47,000,000	172,000,000		-28,600,000
parts, service and accessories	-1,600,000	6,300,000	46,100,000		-7,700,000
finance and insurance	-2,300,000	6,100,000	21,100,000		-5,400,000
vehicle transportation services	-300,000	-4,200,000	5,500,000		-100,000
total revenue	-18,900,000	55,200,000	244,700,000		-41,800,000
timing of revenue recognition:
point in time	-17,900,000	57,700,000	221,100,000
over time	-1,000,000	-2,500,000	23,600,000
amortization of debt issuance costs		2,500,000	2,500,000		2,500,000	2,200,000	2,200,000																						88,950
changes in operating assets and liabilities, net of acquisitions:
loss from discontinued operations									0
loss from continuing operations				-56,400,000	-11,200,000
adjustments to reconcile loss from continuing operations to net cash from operating activities:
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
gain on partial termination of warehouse lease				0	0
valuation allowance and loss on sale of loans receivable portfolio
prepaid expenses and other current assets							2,200,000	-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
net cash from operating activities of continuing operations								-19,575,000	-13,031,000
cash from acquisitions, net of cash received
proceeds from sale of property
net cash from investing activities of continuing operations								-6,239,000	-2,491,000
increase in net borrowings from non-trade floor plans
proceeds from sale-leaseback transaction
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 discontinued operations								16,000	-229,000
less: loss from discontinued operations
valuation allowance charge for loans receivable held for sale
acquisitions, net of cash received										0	-3,300,000		-1,788,000	728,000	-64,916,000
proceeds from sale leaseback transaction								282,000
shares redeemed for employee tax obligations
debt issuance costs								-13,000
other financing costs
revenue
new vehicles					-28,700,000
pre-owned vehicles					100,000
timing of revenue recognition
goods and services transferred at a point in time					-39,300,000
goods and services transferred over time					-2,500,000
other financing						0	-300,000
net income							-10,300,000		-16,484,000	-13,588,000	-16,902,000		3,039,000	14,033,000	9,141,000								-22,038,342	-15,027,368	-8,871,781	-13,001,599	-8,276,305		-7,006,243	-4,736,327	-3,613,876	-3,440,700	-2,317,503	-1,892,225	-922,895	-1,725,130	-27,881	-18,113	-8,652	-14,554	-8,331	-11,380	-14,544
less: income from discontinued operations
income from continuing operations							-10,300,000
adjustments to reconcile income from continuing operations to net cash from operating activities:
increase in borrowings from non-trade floor plans							19,600,000			21,116,000	4,076,000	28,614,000	25,704,000	1,073,000	-5,843,000	-10,501,000
proceeds from debt							500,000
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
proceeds from rof credit facility for the purchase of consumer finance loans													9,275,000
repayments of debt, including finance leases
net proceeds from sale of common stock in rights offering
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														52,878	49,914	47,114	184,199	52,252
write-down of loan receivable assets
repayment of note payables
net increase in cash
adjustments to reconcile net income to net cash from operating activities:
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	-6,667,874	-5,839,388	8,315,419	-4,866,777		6,396,985	206,335	-3,592,370	8,514,432	-394,026	-2,974,069	2,673,735		3,276	-7,279	7,499	-10,690	5,416	-4,042	4,684
loss from change in value of derivatives												0	0	0	-39,000	25,000	6,517,678	2,235,670	20,652		20,345
cash from acquisitions; net of cash received																									0	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
increase in accounts receivable															-10,565,000										-415,780	51,693	-1,200,058					-256,532
increase in inventory															-1,279,000			4,358,764	-2,674,313				-9,765,663						-59,612	-2,441,259	-290,649	-1,590,008
decrease in prepaid expenses and other current assets															658,000		1,098,680										324,689
increase in other assets															-2,498,000								155,175						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					793,660	-2,103,522	-2,914,363	-806,848		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
increase in prepaid expenses and other current assets																			-604,766				-159,175	147,678
decrease in other assets																-1,076,000	-3,371,450	-72,217	-8,333	23,381	-103,820										4,121
proceeds from sales of property and equipment																								128,648	0	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																								17,880	0	8,629,772	6,525,775					14,411,230	0	200,000	3,113,040		0	0	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		593,432	502,904	211,725
share based compensation																	24,729,709	701,275	1,734,016		862,555	716,391	846,370		689,130
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	-345,553	395,782	400,466	92,573
proceeds from notes payable																		0	2,500,000			0	8,272,375
payments on notes payable																			-1,397,098		-192,000				0
net proceeds from lines of credit
proceeds from ppp loans
decrease in accounts receivable																			-11,934,721
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				0	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																									-12,841,523
income from change in value of derivatives																							116,815		-630,000
decrease (increase) in accounts receivable																							240,682
net proceeds (repayments) on line of credit																							2,097,755
income from extinguishment of debt																								0	0
(increase) in inventory
(increase) in other assets
decrease (increase) in inventory																											2,106,138
cash at beginning of period																									0	0	15,784,902		0	0	9,170,652	0	0	0	1,350,580		0	0	1,563	0	0	0	6,195
cash at end of period																									-5,839,388	8,315,419	10,918,125					8,514,432	-394,026	-2,974,069	4,024,315		3,276	-7,279	9,062	-10,690	5,416	-4,042	10,879
trade																									401,182	236,031	12,573,861
finance																									-35,782	-55,220	198,999
less: allowance for doubtful accounts																									-60,347	31,771	169,893
decrease (increase) in prepaid expenses and other current assets
decrease (increase) in other assets
share based compensation expense																											689,121		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
net repayments on line of credit																											-3,241,603
net cash provided (used in) financing activities																											3,284,172
name
marshall chesrown
steven r. berrard
denmar dixon
kartik kakarala
richard a. gray, jr.
joseph e. reece
kevin westfall
interest expense on conversion of debt																																0	0	0	196,076
decrease (increase) 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
decrease (increase)in accounts receivable																															237,048
purchase of other assets
impairment of asset
increase in deferred tax liability
increase in prepaid expenses																																-185,367
donated capital
net tangible assets acquired:
customer contracts																																0	0
non-compete agreements																																0	0
tangible assets acquired																																0	0
goodwill																																0	0
total purchase price																																0	0
less: issuance of shares																																0	0
less: debt issued																																0	0
cash paid																																0	0	0	750,000
adjustments to reconcile net income
to net cash from operating activities:
increase in accrued interest payable - related party																																					-15,228	2,359	2,176	1,989	1,972	1,743	1,553
repayments for note payable - related party
issuance of shares																																	0	0	2,666,666
debt																																	0	0	1,333,334
(increase) in prepaid expenses																																		-131,810	-38,452		2,500
(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 provided from financing activities																																			3,780,040
net increase/(decrease) in cash																																						-7,279	7,499		5,416	-4,042	4,684
revenue:
gross revenue
cost and expenses:
cost of goods sold
general and administrative expenses
operating income
other income
increase in accounts payable																																					52	5,500	-4,500		1,200	-7,780	12,200
proceeds from note payable - related party																																					199,358	10,000	13,000		15,000	13,000	5,000
payments for the purchase of treasury stock																																								0
supplemental information:
interest paid
income taxes paid
cash, beginning																																					0	0	1,563		0	0	6,195
cash, ending																																					3,276	-7,279	9,062		5,416	-4,042	10,879
(decrease) in accounts payable - related party
increase in accounts payable and accounts payable - related party
website development costs
proceeds from the sale of common stock
deferred tax assets:
net operating income carryforward
total deferred tax assets
less: valuation allowance
net deferred tax assets
decrease in prepaid expenses
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.

Rumble(NASDAQ:RUM)

Rumble is an online video platform, web hosting and cloud services business headquartered in Toronto, Ontario, with its U.S. headquarters in Longboat Key, Florida. It was founded in 2013 by Chris Pavlovski, a Canadian technology entrepreneur.

Rumble
(NASDAQ:RUM)