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Share Name | Share Symbol | Market | Type |
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LM Funding America Inc | NASDAQ:LMFA | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.07 | -2.90% | 2.34 | 1.66 | 7.00 | 2.4471 | 2.23 | 2.43 | 83,552 | 05:00:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
On January 18, 2024, LM Funding America, Inc. issued a press release providing Bitcoin production and mining updates for the three and twelve months ended December 31, 2023. The information contained in the press release is incorporated herein by reference and furnished as Exhibit 99.1.
The information set forth under Item 7.01 of this Current Report on Form 8-K (this "Current Report"), including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of such section. The information in Item 7.01 of this Current Report, including Exhibit 99.1, shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any incorporation by reference language in any such filing, except as expressly set forth by specific reference in such a filing. This Current Report will not be deemed an admission as to the materiality of any information in this Current Report that is required to be disclosed solely by Regulation FD.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
Description |
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99.1 |
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104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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LM Funding America, Inc. |
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Date: |
January 18, 2024 |
By: |
/s/ Richard Russell |
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Richard Russell, CFO |
Exhibit 99.1
LM Funding America, Inc. Provides Quarterly Operational and Bitcoin Mining Update for Three Months Ended December 31, 2023
Reports Increase in Bitcoin Holdings to 95.1 BTC valued at $4.0 Million at Year End
TAMPA, FL, January 18, 2024—LM Funding America, Inc. (NASDAQ:LMFA) (“LM Funding” or the “Company”), a cryptocurrency mining and technology-based specialty finance company, today provided a preliminary, unaudited Bitcoin mining update for the three and twelve months ended December 31, 2023.
Metrics * |
Three Months March 31, 2023 |
Three Months June 30, 2023 |
Three Months September 30, 2023 |
Three Months December 31, 2023 |
Twelve Months December 31, 2023 |
Bitcoin Mined |
91.7 |
106.6 |
117.1 |
108.0 |
423.4 |
Bitcoin Sold |
(64.9) |
(111.0) |
(106.1) |
(103.0) |
(385.0) |
Bitcoin Purchased |
2.0 |
- |
- |
- |
2.0 |
Fees |
(0.1) |
(0.1) |
- |
- |
(0.2) |
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Bitcoin Holdings |
83.6 |
79.1 |
90.1 |
95.1 |
95.1 |
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Approximate Miners Deployed at Quarter End |
3,700 |
5,230 |
5,950 |
5,950 |
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Approximate Deployed Hash Rate at Quarter End (PH/s) |
363 |
543 |
615 |
615 |
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*Unaudited
Bruce M. Rodgers, Chairman and CEO of LM Funding, stated, "We continue to make steady progress in our Bitcoin mining operations. In the fourth quarter alone, we mined 108.0 Bitcoin. Over the same time period, the Company sold 103.0 Bitcoin, generating approximately $3.4 million in proceeds. We continue to strategically reinvest the proceeds of our Bitcoin sales back into the business as we position the Company for the upcoming Bitcoin halving event anticipated to occur during the first half of 2024."
The Company estimates the value of its 95.1 Bitcoin holdings were approximately $4.0 million as of December 31, 2023.
About LM Funding America
LM Funding America, Inc. (Nasdaq: LMFA), together with its subsidiaries, is a cryptocurrency mining business that commenced Bitcoin mining operations in September 2022. The Company also operates a technology-based specialty finance company that provides funding to nonprofit community associations (Associations) primarily located in the state of Florida, as well as in the states of Washington, Colorado, and Illinois, by funding a certain portion of the Associations' rights to delinquent accounts that are selected by the Associations arising from unpaid Association assessments.
Forward-Looking Statements
This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guaranties of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the Company's most recent Annual Report on Form 10-K and its other filings with the SEC, which are available at www.sec.gov. These risks and uncertainties include, without limitation, uncertainty created by the risks of entering into and operating in the cryptocurrency mining business, uncertainty in the cryptocurrency mining business in general, problems with hosting vendors in the mining business, the capacity of our Bitcoin mining machines and our related ability to purchase power at reasonable prices, the ability to finance and grow our cryptocurrency mining operations, our ability to acquire new accounts in our specialty finance business at appropriate prices, the potential need for additional capital in the future, changes in governmental regulations that affect our ability to collected sufficient amounts on defaulted consumer receivables, changes in the credit or capital markets, changes in interest rates, and negative press regarding the debt collection industry. The occurrence of any of these risks and uncertainties could have a material adverse effect on our business, financial condition, and results of operations.
Contact:
Crescendo Communications, LLC
Tel: (212) 671-1021
Email: LMFA@crescendo-ir.com
Document And Entity Information |
Jan. 18, 2024 |
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Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Jan. 18, 2024 |
Entity Registrant Name | LM FUNDING AMERICA, INC. |
Entity Central Index Key | 0001640384 |
Entity Emerging Growth Company | false |
Entity File Number | 001-37605 |
Entity Incorporation, State or Country Code | DE |
Entity Tax Identification Number | 47-3844457 |
Entity Address, Address Line One | 1200 West Platt Street |
Entity Address, Address Line Two | Suite 100 |
Entity Address, City or Town | Tampa |
Entity Address, State or Province | FL |
Entity Address, Postal Zip Code | 33606 |
City Area Code | 813 |
Local Phone Number | 222-8996 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock par value $0.001 per share |
Trading Symbol | LMFA |
Security Exchange Name | NASDAQ |
1 Year LM Funding America Chart |
1 Month LM Funding America Chart |
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