Western Capital Resources (WCRS) 10-Q 13 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 16, 2016
Document And Entity Information
Entity Registrant Name	WESTERN CAPITAL RESOURCES, INC.
Entity Central Index Key	1,363,958
Document Type	10-Q
Trading Symbol	WCRS
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		9,497,534
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,016

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
CURRENT ASSETS
Cash	$ 6,306,070	$ 7,847,669
Loans receivable (less allowance for losses of $955,000 and $1,177,000, respectively)	3,945,775	4,884,438
Accounts receivable (less allowance for losses of $137,000 and $272,000, respectively)	3,452,444	1,963,192
Inventory	8,531,043	7,617,850
Prepaid expenses and other	2,394,513	2,589,749
TOTAL CURRENT ASSETS	24,629,845	24,902,898
PROPERTY AND EQUIPMENT, net	9,183,776	8,561,321
GOODWILL	13,355,591	13,355,591
INTANGIBLE ASSETS, net	7,877,628	8,018,616
OTHER	404,580	783,907
TOTAL ASSETS	55,451,420	55,622,333
CURRENT LIABILITIES
Accounts payable	4,386,505	4,577,118
Accrued expenses and other liabilities	5,535,076	6,232,267
Income taxes payable	475,473	1,135,031
Current portion long-term debt	1,233,338	4,900,008
Current portion capital lease obligations	79,256	23,860
Deferred revenue and other	1,650,477	1,796,338
TOTAL CURRENT LIABILITIES	13,360,125	18,664,622
LONG-TERM LIABILITIES
Notes payable, net of current portion	5,788,120	3,096,452
Capital lease obligations, net of current portion	137,251	33,347
Deferred income taxes	4,233,000	3,889,000
Other	77,760	80,403
TOTAL LONG-TERM LIABILITIES	10,236,131	7,099,202
TOTAL LIABILITIES	$ 23,596,256	$ 25,763,824
COMMITMENTS AND CONTINGENCIES (Note 11)
WESTERN SHAREHOLDERS' EQUITY
Common stock, no par value, 12,500,000 shares authorized, 9,497,534 issued and outstanding.
Additional paid-in capital	$ 28,955,463	$ 28,934,392
Retained earnings	2,869,437	898,038
TOTAL WESTERN SHAREHOLDERS' EQUITY	31,824,900	29,832,430
NONCONTROLLING INTERESTS	30,264	26,079
TOTAL EQUITY	31,855,164	29,858,509
TOTAL LIABILITIES AND EQUITY	$ 55,451,420	$ 55,622,333

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Loans receivable, allowance (in dollars)	$ 955,000	$ 1,177,000
Accounts receivable, allowance (in dollars)	$ 137,000	$ 272,000
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, authorized	12,500,000	12,500,000
Common stock, issued	9,497,534	9,497,534
Common stock, outstanding	9,497,534	9,497,534

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
REVENUES
Sales and associated fees	$ 20,015,542	$ 7,505,748
Financing fees and interest	2,484,220	2,585,394
Royalty and franchise fees, net	2,794,756	2,705,157
Other revenue	3,140,768	1,645,532
TOTAL REVENUES	28,435,286	14,441,831
COST OF REVENUES
Cost of sales	10,356,860	4,508,255
Provisions for loans receivable losses	302,872	326,210
Other	553,414	195,678
Total Cost of Revenues	11,213,146	5,030,143
GROSS PROFIT	17,222,140	9,411,688
OPERATING EXPENSES
Salaries, wages and benefits	6,748,950	4,216,114
Occupancy	1,973,805	1,307,229
Advertising, marketing and development	1,951,009	256,495
Depreciation	276,592	104,082
Amortization	140,990	103,840
Other	2,820,251	1,941,221
TOTAL OPERATING EXPENSES	13,911,597	7,928,981
OPERATING INCOME	3,310,543	1,482,707
OTHER INCOME (EXPENSES):
Interest income	1,052	1,354
Interest expense	(169,011)	(105,975)
TOTAL OTHER INCOME (EXPENSES)	(167,959)	(104,621)
INCOME BEFORE INCOME TAXES	3,142,584	1,378,086
INCOME TAX EXPENSE	1,167,000	539,650
NET INCOME	1,975,584	838,436
Less net income attributable to noncontrolling interests	(4,185)	(2,377)
NET INCOME ATTRIBUTABLE TO WESTERN COMMON SHAREHOLDERS	$ 1,971,399	$ 836,059
EARNINGS PER SHARE ATTRIBUTABLE TO WESTERN COMMON SHAREHOLDERS
Basic and diluted (in dollars per share)	$ 0.21	$ 0.14
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic and diluted (in shares)	9,497,534	5,997,588

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
OPERATING ACTIVITIES
Net Income	$ 1,975,584	$ 838,436
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	276,592	104,082
Amortization	140,990	$ 103,840
Share based compensation	21,071
Deferred income taxes	344,000	$ 101,000
Changes in operating assets and liabilities:
Loans receivable	938,663	1,227,529
Accounts receivable	(1,489,252)	(99,266)
Inventory	(913,193)	49,824
Prepaid expenses and other assets	574,563	(190,461)
Accounts payable and accrued liabilities	(1,547,364)	(1,187,214)
Deferred revenue and other current liabilities	(145,861)	7,178
Accrued liabilities and other	(2,643)	4,188
Net cash provided by operating activities	173,150	959,136
INVESTING ACTIVITIES
Purchases of property and equipment	(432,211)	(70,646)
Acquisition of stores, net of cash acquired	(466,836)	(440,000)
Net cash used by investing activities	(899,047)	(510,646)
FINANCING ACTIVITIES
Payments on notes payable - long-term, net	(975,002)	(1,375,000)
Proceeds from (payments on) capital leases, net	159,300	(10,797)
Net cash used by financing activities	(815,702)	(1,385,797)
NET DECREASE IN CASH	(1,541,599)	(937,307)
CASH
Beginning of period	7,847,669	4,273,350
End of period	6,306,070	3,336,043
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Income taxes paid	1,483,301	1,133,458
Interest paid	$ 166,131	114,523
Noncash investing and financing activities:
Deposit applied to purchase of intangibles		$ 50,000

Basis of Presentation, Nature o

Basis of Presentation, Nature of Business and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation, Nature of Business and Summary of Significant Accounting Policies	1. Basis of Presentation, Nature of Business and Summary of Significant Accounting Policies – Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared according to the instructions to Form 10-Q and Section 210.8-03(b) of Regulation S-X of the Securities and Exchange Commission (SEC) and, therefore, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been omitted. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three-month period ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. For further information, refer to the Condensed Consolidated Financial Statements and footnotes thereto included in our Form 10-K for the year ended December 31, 2015. The condensed consolidated balance sheet at December 31, 2015, has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by GAAP. Nature of Business Western Capital Resources, Inc. (WCR) is a parent company owning operating subsidiaries, with percentage owned shown parenthetically, as summarized below • Franchise o AlphaGraphics, Inc. (AGI) (99.2%) – franchisor of 257 domestic and 26 international AlphaGraphics Business Centers which specialize in the planning, production and management of visual communications for businesses and individuals throughout the world. • Cellular Retail o PQH Wireless, Inc. and subsidiaries (PQH) (100%) – owns and operates 111 cellular retail stores as an exclusive dealer of the Cricket brand. • Direct to Consumer o J & P Park Acquisitions, Inc. (JPPA) (100% – Acquired July 1, 2015) – an online and direct marketing distribution retailer of live plants, seeds, holiday gifts and garden accessories selling its products under Park Seed, Jackson & Perkins, and Wayside Gardens brand names as well as a wholesaler under the Park Wholesale brand. o Restorers Acquisition, Inc. (RAI) (100% – Acquired July 1, 2015) – an online and direct marketing distribution retailer of home improvement and restoration products operating under Van Dyke’s Restorers. o J & P Real Estate, LLC (JPRE) (100% – Acquired July 1, 2015) – owns real estate utilized as JPPA’s distribution and warehouse facility and the corporate offices of JPPA and RAI. • Consumer Finance o Wyoming Financial Lenders, Inc. (WFL) (100%) – owns and operates “payday” stores 46 in eight states (Colorado, Iowa, Kansas, Nebraska, North Dakota, South Dakota, Wisconsin and Wyoming) providing sub-prime short-term uncollateralized non-recourse “cash advance” or “payday” loans typically ranging from $100 to $500 with a maturity of generally two to four weeks, sub-prime short-term uncollateralized non-recourse installment loans typically ranging from $300 to $800 with a maturity of six months, check cashing and other money services to individuals. o Express Pawn, Inc. (EPI) (100%) – owns and operates retail three pawn stores in Nebraska and Iowa providing collateralized non-recourse pawn loans and retail sales of merchandise obtained from forfeited pawn loans or purchased from customers. References in these financial statement notes to “Company” or “we” refer to Western Capital Resources, Inc. and its subsidiaries. References to specific companies within our enterprise, such “AGI,” “PQH,” “JPPA,” “RAI,” “JPRE,” “WFL” or “EPI” are references only to those companies. Basis of Consolidation The consolidated financial statements include the accounts of the WCR, its wholly owned subsidiaries and other entities in which the Company owns a controlling financial interest. For financial interests in which the Company owns a controlling financial interest, the Company applies the provisions of ASC 810 applicable to reporting the equity and net income or loss attributable to noncontrolling interests. All significant intercompany balances and transactions of the Company have been eliminated in consolidation. Use of Estimates The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that may affect certain reported amounts and disclosures in the condensed consolidated financial statements and accompanying notes. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from those estimates. Significant management estimates relate to the notes and loans receivable allowance, carrying value and impairment of long-lived goodwill and intangible assets, inventory valuation and obsolescence, estimated useful lives of property and equipment, gift certificate and customer credits liability and deferred taxes and tax uncertainties. Reclassifications Certain Statement of Income reclassifications have been made in the presentation of our prior financial statements and accompanying notes to conform to the presentation as of and for the three months ended March 31, 2016. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued a comprehensive new revenue recognition standard that will supersede nearly all existing revenue recognition guidance under US GAAP. This standard, including subsequent updates, is effective for annual and interim periods beginning after December 15, 2017. The Company is currently assessing the potential effects on our financial condition, results of operations and consolidated financial statements. In November 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes” (“ASU 2015-17”). The standard requires that deferred tax assets and liabilities be classified as noncurrent on the balance sheet rather than being separated into current and noncurrent. ASU 2015-17 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. Early adoption is permitted and the standard may be applied either retrospectively or on a prospective basis to all deferred tax assets and liabilities. The Company early adopted ASU 2015-17 during our first quarter of fiscal year 2016 on a retrospective basis. Accordingly, we reclassified the current deferred taxes to noncurrent on our December 31, 2015 Condensed Consolidated Balance Sheet, which decreased current deferred tax assets $0.56 million and decreased noncurrent deferred tax liabilities $0.56 million. In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). The standard requires recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. ASU 2016-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted and the standard is to be applied using a modified retrospectively approach. The Company is currently evaluating the impact that ASU 2016-02 will have on our consolidated financial statements. No other accounting pronouncements issued or effective during the fiscal quarter have had or are expected to have a material impact on our condensed consolidated financial statements.

Risks Inherent in the Operating

Risks Inherent in the Operating Environment	3 Months Ended
	Mar. 31, 2016
Risks and Uncertainties [Abstract]
Risks Inherent in the Operating Environment	2. Risks Inherent in the Operating Environment – Regulatory The Company’s Consumer Finance segment activities are highly regulated under numerous local, state, and federal laws, regulations and rules, which are subject to change. New laws, regulations or rules could be enacted or issued, interpretations of existing laws, regulations or rules may change and enforcement action by regulatory agencies may intensify. Over the past several years, consumer advocacy groups and certain media reports have advocated governmental and regulatory action to prohibit or severely restrict sub-prime lending activities of the kind conducted by the Company. The federal Consumer Financial Protection Bureau has indicated that it will use its authority to further regulate the payday industry and has been actively assessing significant penalties or seeking settlement payments. Any adverse change in present local, state, and federal laws or regulations that govern or otherwise affect lending could result in the Consumer Finance segment’s curtailment or cessation of operations in certain or all jurisdictions or locations. Furthermore, any failure to comply with any applicable local, state or federal laws or regulations could result in fines, litigation, closure of one or more store locations or negative publicity. Any such change or failure would have a corresponding impact on the Company’s and segment’s results of operations and financial condition, primarily through a decrease in revenues resulting from the cessation or curtailment of operations, decrease in operating income through increased legal expenditures or fines, and could also negatively affect the Company’s general business prospects due to lost or decreased operating income or if negative publicity effects its ability to obtain additional financing as needed. In addition, the passage of federal or state laws and regulations or changes in interpretations of them could, at any point, essentially prohibit the Consumer Finance segment from conducting its lending business in its current form. Any such legal or regulatory change would certainly have a material and adverse effect on the Company, its operating results, financial condition and prospects, and perhaps even the viability of the Consumer Finance segment.

Loans Receivable

Loans Receivable	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Loans Receivable	3. Loans Receivable – At March 31, 2016 and December 31, 2015, the Company’s outstanding loans receivable aging was as follows: March 31, 2016 Payday Installment Pawn & Total Current $ 3,295,567 $ 205,095 $ 253,950 $ 3,754,612 1-30 221,140 39,821 - 260,961 31-60 162,501 24,866 - 187,367 61-90 191,760 16,292 - 208,052 91-120 162,082 5,769 - 167,851 121-150 165,775 3,333 - 169,108 151-180 151,528 1,296 - 152,824 4,350,353 296,472 253,950 4,900,775 Less Allowance (889,000 ) (66,000 ) - (955,000 ) $ 3,461,353 $ 230,472 $ 253,950 $ 3,945,775 December 31, 2015 Payday Installment Pawn & Total Current $ 4,065,706 $ 291,947 $ 286,514 $ 4,644,167 1-30 332,217 43,179 - 375,396 31-60 263,486 24,233 - 287,719 61-90 199,526 16,293 - 215,819 91-120 196,123 9,417 - 205,540 121-150 160,386 4,985 - 165,371 151-180 165,237 2,189 - 167,426 5,382,681 392,243 286,514 6,061,438 Less Allowance (1,081,000 ) (96,000 ) - (1,177,000 ) $ 4,301,681 $ 296,243 $ 286,514 $ 4,884,438

Loans Receivable Allowance

Loans Receivable Allowance	3 Months Ended
	Mar. 31, 2016
Provision for Loan and Lease Losses [Abstract]
Loans Receivable Allowance	4. Loans Receivable Allowance – As a result of the Company’s collection efforts, it historically writes off approximately 42% of returned payday items. Based on days past the check return date, write-offs of payday returned items historically have tracked at the following approximate percentages: 1 to 30 days – 42%; 31 to 60 days – 64%; 61 to 90 days – 83%; 91 to 120 days – 88%; 121 to 150 days – 91%; and 151 + days – 93%. A rollforward of the Company’s loans receivable allowance is as follows: Three Months Ended Year Ended Loans receivable allowance, beginning of period $ 1,177,000 $ 1,219,000 Provision for loan losses charged to expense 302,872 1,904,893 Charge-offs, net (524,872 ) (1,946,893 ) Loans receivable allowance, end of period $ 955,000 $ 1,177,000

Accounts Receivable

Accounts Receivable	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Accounts Receivable	5. Accounts Receivable – A breakdown of accounts receivables by segment as of March 31, 2016 and December 31, 2015 are as follows: March 31, 2016 Franchise Cellular Direct to Total Accounts receivable $ 1,444,791 $ 106,208 $ 2,038,445 $ 3,589,444 Less allowance (100,000 ) - (37,000 ) (137,000 ) Net account receivable $ 1,344,791 $ 106,208 $ 2,001,445 $ 3,452,444 December 31, 2015 Franchise Cellular Direct to Total Accounts receivable $ 1,332,446 $ 148,346 $ 754,400 $ 2,235,192 Less allowance (183,000 ) - (89,000 ) (272,000 ) Net account receivable $ 1,149,446 $ 148,346 $ 665,400 $ 1,963,192

Deferred Revenue and Other Liab

Deferred Revenue and Other Liabilities	3 Months Ended
	Mar. 31, 2016
Deferred Revenue Disclosure [Abstract]
Deferred Revenue and Other Liabilities	6. Deferred Revenue and Other Liabilities – Deferred revenue and other liabilities consist of the following: March 31, 2016 December 31, 2015 Deferred financing fees $ 203,445 $ 285,452 Deferred franchise development fees 350,634 264,000 Merchandise credits and gift card liability 939,069 1,127,470 Other 157,329 119,416 Total $ 1,650,477 $ 1,796,338

Notes Payable - Long Term

Notes Payable - Long Term	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Notes Payable - Long Term	7. Notes Payable – Long Term – March 31, 2016 December 31, 2015 Note payable (with a credit limit of $3,000,000) to River City Equity, Inc., a related party, with interest payable monthly at 12% due June 30, 2016 and upon certain events can be collateralized by substantially all assets of WCR, excluding any equity interest in AGI $ 3,000,000 $ 3,000,000 Subsidiary note payable to a financial institution with quarterly principal payments of $375,000 plus interest at prime rate plus 2.5%, secured by the AGI’s assets, maturing March 2017 750,000 1,625,000 Subsidiary note pa yab le to a financial institution with monthly principal payment of $33,334 plus annual paydowns equal to JPRE’s net cash flow from operations due within 120 days of the calendar year end plus interest at LIBOR plus 3.5% (4% at March 31, 2016), secured by JPRE assets, maturing June 5, 2019 when remaining principal balance is due 3,271,458 3,371,460 Total 7,021,458 7,996,460 Less current maturities (see Note 12) (1,233,338 ) (4,900,008 ) $ 5,788,120 $ 3,096,452 Future minimum long-term principal payments are as follows, after giving effect of refinancing as further discussed in Note 12: Year Amount 1 $ 1,233,338 2 1,058,341 3 1,058,341 4 2,729,767 5 658,333 Thereafter 283,338 $ 7,021,458

Other Operating Expense

Other Operating Expense	3 Months Ended
	Mar. 31, 2016
Other Income and Expenses [Abstract]
Other Operating Expense	8. Other Operating Expense – A breakout of other operating expense is as follows: For the Three Months Ended March 31, 2016 2015 Bank fees $ 438,034 $ 149,523 Collection costs 116,188 111,319 Conferences 265,405 210,645 Insurance 171,563 82,795 Management and advisory fees 221,025 149,502 Professional and consulting fees 595,210 406,032 Supplies 183,274 170,514 Other 829,552 660,891 $ 2,820,251 $ 1,941,221

Pro Forma Information

Pro Forma Information	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Pro Forma Information	9. Pro Forma Information – Effective June 1, 2015, PQH purchased with cash all outstanding membership interests in four separate limited liability companies (Green Communications, LLC, an Arizona LLC, Green Communications, LLC, an Oregon LLC, Green Communications, LLC, a Washington LLC and Go Green, LLC an Arizona LLC). Effective July 1, 2015, the Company acquired a 100% interest in the businesses of RAI, JPPA, and JPRE, by completing a merger and contribution transaction. As further discussed in Note 13 of the December 31, 2015 Notes to Consolidated Financial Statements, the results of the operations for the acquired business have been included in the consolidated financial statements since the dates of the acquisition. The following table presents the unaudited results of operations for the three-months ended March 31, 2016 and the unaudited pro forma results of operations for the three-months ended March 31, 2015 (in thousands, except for per share data) as if the acquisitions had been consummated at the beginning of 2015. The pro forma net income below excludes the expense of the transactions. The pro forma results of operations are prepared for comparative purposes only and do not necessarily reflect the results that would have occurred had the acquisition occurred at the beginning of the 2015 or the results which may occur in the future. Franchise Cellular Direct to Consumer Corporate Total Three Months Ended March 31, 2016 Revenue $ 3,612 $ 9,775 $ 12,064 $ 2,984 $ - $ 28,435 % of total revenue 12.7 % 34.4 % 42.4 % 10.5 % - % 100.0 % Net income $ 523 $ 371 $ 904 $ 312 $ (135 ) $ 1,975 Net income attributable to noncontrolling interests $ 4 $ - $ - $ - $ - $ 4 Net income attributable to WCR common shareholders $ 519 $ 371 $ 904 $ 312 $ (135 ) $ 1,971 Earnings per share attributable to WCR common shareholders – basic and diluted $ 0.055 $ 0.039 $ 0.095 $ 0.033 $ (0.014 ) $ 0.208 Three Months Ended March 31, 2015 Pro forma revenue $ 3,196 $ 11,292 $ 13,451 $ 3,094 $ - $ 31,033 % of total pro forma revenue 10.3 % 36.4 % 43.3 % 10.0 % - % 100.0 % Pro forma net income $ 299 $ 392 $ 828 $ 286 $ (73 ) $ 1,732 Pro forma net income attributable to noncontrolling interests $ 2 $ - $ - $ - $ - $ 2 Pro forma net income attributable to WCR common shareholders $ 297 $ 392 $ 828 $ 286 $ (73 ) $ 1,730 Pro forma earnings per share attributable to WCR common shareholders – basic and diluted $ 0.031 $ 0.041 $ 0.087 $ 0.031 $ (0.008 ) $ 0.182

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Information	10. Segment Information – Segment information related to the three month period ended March 31, 2016 and 2015, is presented below: March 31, 2016 Franchise Cellular Direct to Consumer Corporate Total Revenue from external customers $ 3,612 $ 9,775 $ 12,064 $ 2,984 $ - $ 28,435 Net income (loss) $ 523 $ 371 $ 904 $ 312 $ (135 ) $ 1,975 Total segment assets $ 9,481 $ 14,746 $ 16,779 $ 13,747 $ 698 $ 55,451 March 31, 2015 Franchise Cellular Direct to Consumer Corporate Total Revenue from external customers $ 3,196 $ 8,152 $ - $ 3,094 $ - $ 14,442 Net income (loss) $ 299 $ 326 $ - $ 286 $ (73 ) $ 838 Total segment assets $ 9,909 $ 9,502 $ - $ 15,085 $ - $ 34,496

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies – Pursuant to the Company’s numerous employment agreements, bonuses of approximately $356,000 and $182,000 were accrued for the three-months ended March 31, 2016 and 2015, respectively.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	12. Subsequent Events – Credit Facility On April 22, 2016, the Company entered into a Credit Agreement with a financial institution. The Credit Agreement provides the company with (i) a revolving credit facility in an aggregate amount of up to $3,000,000, having a maturity date of April 21, 2018, and (ii) an acquisition loan facility in an aggregate amount of up to $9,000,000, having a maturity date of April 21, 2018. Under the Credit Agreement, both the revolving credit facility and acquisition loan facility bear interest at a floating per annum rate equal to one-month LIBOR plus 3.50%, adjusted on a monthly basis. At closing, $3,500,000 was advanced under the acquisition loan replacing the $3,000,000 River City Equity debt and $500,000 of other term debt. Certain company subsidiaries are guarantors of the company’s borrowings and obligations under the Credit Agreement. All borrowings under the Credit Agreement are secured by substantially all assets of the company and the guarantor subsidiaries. The Credit Agreement requires the company to meet certain financial tests, including a leverage ratio and a fixed charge coverage ratio, as defined in the Credit Agreement. Subject to certain exceptions, the Credit Agreement contains covenants limiting the company’s ability to (or to permit the guarantor subsidiaries to) merge or consolidate with, or engage in a sale of substantially all assets to, any party, but the company or any guarantor subsidiary generally may nonetheless merge with another party if (i) the company or guarantor subsidiary is the entity surviving such merger, and (ii) immediately after giving effect to such merger, no default shall have occurred and be continuing under the Credit Agreement. Subject to certain exceptions, the Credit Agreement also contains covenants limiting the company’s ability to (or to permit the guarantor subsidiaries to) create liens on assets, incur additional indebtedness, make certain types of investments, and pay dividends or make certain other types of restricted payments, but the company may nonetheless pay dividends to its shareholders if (a) there are no outstanding loans or unpaid interest under the revolving credit facility, and (b) no default shall have occurred and be continuing under the Credit Agreement. Reincorporation On January 20, 2016, our shareholders approved a plan to reincorporate Western Capital Resources, Inc. in Delaware at a special meeting of the shareholders called for that purpose. The reincorporation was completed May 11, 2016.

Basis of Presentation, Nature18

Basis of Presentation, Nature of Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared according to the instructions to Form 10-Q and Section 210.8-03(b) of Regulation S-X of the Securities and Exchange Commission (SEC) and, therefore, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been omitted. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three-month period ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. For further information, refer to the Condensed Consolidated Financial Statements and footnotes thereto included in our Form 10-K for the year ended December 31, 2015. The condensed consolidated balance sheet at December 31, 2015, has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by GAAP.
Nature of Business	Nature of Business Western Capital Resources, Inc. (WCR) is a parent company owning operating subsidiaries, with percentage owned shown parenthetically, as summarized below • Franchise o AlphaGraphics, Inc. (AGI) (99.2%) – franchisor of 257 domestic and 26 international AlphaGraphics Business Centers which specialize in the planning, production and management of visual communications for businesses and individuals throughout the world. • Cellular Retail o PQH Wireless, Inc. and subsidiaries (PQH) (100%) – owns and operates 111 cellular retail stores as an exclusive dealer of the Cricket brand. • Direct to Consumer o J & P Park Acquisitions, Inc. (JPPA) (100% – Acquired July 1, 2015) – an online and direct marketing distribution retailer of live plants, seeds, holiday gifts and garden accessories selling its products under Park Seed, Jackson & Perkins, and Wayside Gardens brand names as well as a wholesaler under the Park Wholesale brand. o Restorers Acquisition, Inc. (RAI) (100% – Acquired July 1, 2015) – an online and direct marketing distribution retailer of home improvement and restoration products operating under Van Dyke’s Restorers. o J & P Real Estate, LLC (JPRE) (100% – Acquired July 1, 2015) – owns real estate utilized as JPPA’s distribution and warehouse facility and the corporate offices of JPPA and RAI. • Consumer Finance o Wyoming Financial Lenders, Inc. (WFL) (100%) – owns and operates “payday” stores 46 in eight states (Colorado, Iowa, Kansas, Nebraska, North Dakota, South Dakota, Wisconsin and Wyoming) providing sub-prime short-term uncollateralized non-recourse “cash advance” or “payday” loans typically ranging from $100 to $500 with a maturity of generally two to four weeks, sub-prime short-term uncollateralized non-recourse installment loans typically ranging from $300 to $800 with a maturity of six months, check cashing and other money services to individuals. o Express Pawn, Inc. (EPI) (100%) – owns and operates retail three pawn stores in Nebraska and Iowa providing collateralized non-recourse pawn loans and retail sales of merchandise obtained from forfeited pawn loans or purchased from customers. References in these financial statement notes to “Company” or “we” refer to Western Capital Resources, Inc. and its subsidiaries. References to specific companies within our enterprise, such “AGI,” “PQH,” “JPPA,” “RAI,” “JPRE,” “WFL” or “EPI” are references only to those companies.
Basis of Consolidation	Basis of Consolidation The consolidated financial statements include the accounts of the WCR, its wholly owned subsidiaries and other entities in which the Company owns a controlling financial interest. For financial interests in which the Company owns a controlling financial interest, the Company applies the provisions of ASC 810 applicable to reporting the equity and net income or loss attributable to noncontrolling interests. All significant intercompany balances and transactions of the Company have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that may affect certain reported amounts and disclosures in the condensed consolidated financial statements and accompanying notes. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from those estimates. Significant management estimates relate to the notes and loans receivable allowance, carrying value and impairment of long-lived goodwill and intangible assets, inventory valuation and obsolescence, estimated useful lives of property and equipment, gift certificate and customer credits liability and deferred taxes and tax uncertainties.
Reclassifications	Reclassifications Certain Statement of Income reclassifications have been made in the presentation of our prior financial statements and accompanying notes to conform to the presentation as of and for the three months ended March 31, 2016.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued a comprehensive new revenue recognition standard that will supersede nearly all existing revenue recognition guidance under US GAAP. This standard, including subsequent updates, is effective for annual and interim periods beginning after December 15, 2017. The Company is currently assessing the potential effects on our financial condition, results of operations and consolidated financial statements. In November 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes” (“ASU 2015-17”). The standard requires that deferred tax assets and liabilities be classified as noncurrent on the balance sheet rather than being separated into current and noncurrent. ASU 2015-17 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. Early adoption is permitted and the standard may be applied either retrospectively or on a prospective basis to all deferred tax assets and liabilities. The Company early adopted ASU 2015-17 during our first quarter of fiscal year 2016 on a retrospective basis. Accordingly, we reclassified the current deferred taxes to noncurrent on our December 31, 2015 Condensed Consolidated Balance Sheet, which decreased current deferred tax assets $0.56 million and decreased noncurrent deferred tax liabilities $0.56 million. In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). The standard requires recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. ASU 2016-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted and the standard is to be applied using a modified retrospectively approach. The Company is currently evaluating the impact that ASU 2016-02 will have on our consolidated financial statements. No other accounting pronouncements issued or effective during the fiscal quarter have had or are expected to have a material impact on our condensed consolidated financial statements.

Loans Receivable (Tables)

Loans Receivable (Tables)	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Schedule of outstanding loans receivable aging	At March 31, 2016 and December 31, 2015, the Company’s outstanding loans receivable aging was as follows: March 31, 2016 Payday Installment Pawn & Total Current $ 3,295,567 $ 205,095 $ 253,950 $ 3,754,612 1-30 221,140 39,821 - 260,961 31-60 162,501 24,866 - 187,367 61-90 191,760 16,292 - 208,052 91-120 162,082 5,769 - 167,851 121-150 165,775 3,333 - 169,108 151-180 151,528 1,296 - 152,824 4,350,353 296,472 253,950 4,900,775 Less Allowance (889,000 ) (66,000 ) - (955,000 ) $ 3,461,353 $ 230,472 $ 253,950 $ 3,945,775 December 31, 2015 Payday Installment Pawn & Total Current $ 4,065,706 $ 291,947 $ 286,514 $ 4,644,167 1-30 332,217 43,179 - 375,396 31-60 263,486 24,233 - 287,719 61-90 199,526 16,293 - 215,819 91-120 196,123 9,417 - 205,540 121-150 160,386 4,985 - 165,371 151-180 165,237 2,189 - 167,426 5,382,681 392,243 286,514 6,061,438 Less Allowance (1,081,000 ) (96,000 ) - (1,177,000 ) $ 4,301,681 $ 296,243 $ 286,514 $ 4,884,438

Loans Receivable Allowance (Tab

Loans Receivable Allowance (Tables)	3 Months Ended
	Mar. 31, 2016
Provision for Loan and Lease Losses [Abstract]
Schedule of loans receivable allowance	A rollforward of the Company’s loans receivable allowance is as follows: Three Months Ended Year Ended Loans receivable allowance, beginning of period $ 1,177,000 $ 1,219,000 Provision for loan losses charged to expense 302,872 1,904,893 Charge-offs, net (524,872 ) (1,946,893 ) Loans receivable allowance, end of period $ 955,000 $ 1,177,000

Accounts Receivable (Tables)

Accounts Receivable (Tables)	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Schedule of accounts receivables	A breakdown of accounts receivables by segment as of March 31, 2016 and December 31, 2015 are as follows: March 31, 2016 Franchise Cellular Direct to Total Accounts receivable $ 1,444,791 $ 106,208 $ 2,038,445 $ 3,589,444 Less allowance (100,000 ) - (37,000 ) (137,000 ) Net account receivable $ 1,344,791 $ 106,208 $ 2,001,445 $ 3,452,444 December 31, 2015 Franchise Cellular Direct to Total Accounts receivable $ 1,332,446 $ 148,346 $ 754,400 $ 2,235,192 Less allowance (183,000 ) - (89,000 ) (272,000 ) Net account receivable $ 1,149,446 $ 148,346 $ 665,400 $ 1,963,192

Deferred Revenue and Other Li22

Deferred Revenue and Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Deferred Revenue Disclosure [Abstract]
Schedule of deferred revenue and other liabilities	Deferred revenue and other liabilities consist of the following: March 31, 2016 December 31, 2015 Deferred financing fees $ 203,445 $ 285,452 Deferred franchise development fees 350,634 264,000 Merchandise credits and gift card liability 939,069 1,127,470 Other 157,329 119,416 Total $ 1,650,477 $ 1,796,338

Notes Payable - Long Term (Tabl

Notes Payable - Long Term (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of long-term debt instruments	March 31, 2016 December 31, 2015 Note payable (with a credit limit of $3,000,000) to River City Equity, Inc., a related party, with interest payable monthly at 12% due June 30, 2016 and upon certain events can be collateralized by substantially all assets of WCR, excluding any equity interest in AGI $ 3,000,000 $ 3,000,000 Subsidiary note payable to a financial institution with quarterly principal payments of $375,000 plus interest at prime rate plus 2.5%, secured by the AGI’s assets, maturing March 2017 750,000 1,625,000 Subsidiary note pa yab le to a financial institution with monthly principal payment of $33,334 plus annual paydowns equal to JPRE’s net cash flow from operations due within 120 days of the calendar year end plus interest at LIBOR plus 3.5% (4% at March 31, 2016), secured by JPRE assets, maturing June 5, 2019 when remaining principal balance is due 3,271,458 3,371,460 Total 7,021,458 7,996,460 Less current maturities (see Note 12) (1,233,338 ) (4,900,008 ) $ 5,788,120 $ 3,096,452
Schedule of future minimum long-term principal payments	Future minimum long-term principal payments are as follows, after giving effect of refinancing as further discussed in Note 12: Year Amount 1 $ 1,233,338 2 1,058,341 3 1,058,341 4 2,729,767 5 658,333 Thereafter 283,338 $ 7,021,458

Other Operating Expense (Tables

Other Operating Expense (Tables)	3 Months Ended
	Mar. 31, 2016
Other Income and Expenses [Abstract]
Schedule of other expense	A breakout of other operating expense is as follows: For the Three Months Ended March 31, 2016 2015 Bank fees $ 438,034 $ 149,523 Collection costs 116,188 111,319 Conferences 265,405 210,645 Insurance 171,563 82,795 Management and advisory fees 221,025 149,502 Professional and consulting fees 595,210 406,032 Supplies 183,274 170,514 Other 829,552 660,891 $ 2,820,251 $ 1,941,221

Pro Forma Information (Tables)

Pro Forma Information (Tables)	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Schedule of business acquisition, pro forma	The pro forma results of operations are prepared for comparative purposes only and do not necessarily reflect the results that would have occurred had the acquisition occurred at the beginning of the 2015 or the results which may occur in the future. Franchise Cellular Direct to Consumer Corporate Total Three Months Ended March 31, 2016 Revenue $ 3,612 $ 9,775 $ 12,064 $ 2,984 $ - $ 28,435 % of total revenue 12.7 % 34.4 % 42.4 % 10.5 % - % 100.0 % Net income $ 523 $ 371 $ 904 $ 312 $ (135 ) $ 1,975 Net income attributable to noncontrolling interests $ 4 $ - $ - $ - $ - $ 4 Net income attributable to WCR common shareholders $ 519 $ 371 $ 904 $ 312 $ (135 ) $ 1,971 Earnings per share attributable to WCR common shareholders – basic and diluted $ 0.055 $ 0.039 $ 0.095 $ 0.033 $ (0.014 ) $ 0.208 Three Months Ended March 31, 2015 Pro forma revenue $ 3,196 $ 11,292 $ 13,451 $ 3,094 $ - $ 31,033 % of total pro forma revenue 10.3 % 36.4 % 43.3 % 10.0 % - % 100.0 % Pro forma net income $ 299 $ 392 $ 828 $ 286 $ (73 ) $ 1,732 Pro forma net income attributable to noncontrolling interests $ 2 $ - $ - $ - $ - $ 2 Pro forma net income attributable to WCR common shareholders $ 297 $ 392 $ 828 $ 286 $ (73 ) $ 1,730 Pro forma earnings per share attributable to WCR common shareholders – basic and diluted $ 0.031 $ 0.041 $ 0.087 $ 0.031 $ (0.008 ) $ 0.182

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Schedule of segment information	Segment information related to the three month period ended March 31, 2016 and 2015, is presented below: March 31, 2016 Franchise Cellular Direct to Consumer Corporate Total Revenue from external customers $ 3,612 $ 9,775 $ 12,064 $ 2,984 $ - $ 28,435 Net income (loss) $ 523 $ 371 $ 904 $ 312 $ (135 ) $ 1,975 Total segment assets $ 9,481 $ 14,746 $ 16,779 $ 13,747 $ 698 $ 55,451 March 31, 2015 Franchise Cellular Direct to Consumer Corporate Total Revenue from external customers $ 3,196 $ 8,152 $ - $ 3,094 $ - $ 14,442 Net income (loss) $ 299 $ 326 $ - $ 286 $ (73 ) $ 838 Total segment assets $ 9,909 $ 9,502 $ - $ 15,085 $ - $ 34,496

Basis of Presentation, Nature27

Basis of Presentation, Nature of Business and Summary of Significant Accounting Policies (Details Narrative)	3 Months Ended
	Mar. 31, 2016USD ($)Number
Accounting Standards Update 2015-17 [Member]
Decrease in current deferred tax assets | $	$ 560,000
Decrease in noncurrent deferred tax liabilities | $	$ 560,000
Franchising [Member] | Alpha Graphics, Inc. [Member]
Number of domestic business centers | Number	257
Number of international business centers | Number	26
Percentage of equity method investment	99.20%
Cellular Retail [Member] | PQH Wireless, Inc. [Member]
Number of stores | Number	111
Percentage of equity method investment	100.00%
Direct to Consumer [Member] | JPPA [Member]
Percentage of equity method investment	100.00%
Business acquisition, effective date of acquisition	Jul. 1, 2015
Direct to Consumer [Member] | RAI [Member]
Percentage of equity method investment	100.00%
Business acquisition, effective date of acquisition	Jul. 1, 2015
Direct to Consumer [Member] | JPRE [Member]
Percentage of equity method investment	100.00%
Business acquisition, effective date of acquisition	Jul. 1, 2015
Consumer Finance [Member] | Wyoming Financial Lenders, Inc. [Member]
Number of stores | Number	46
Percentage of equity method investment	100.00%
Number of states in which entity operates | Number	8
Consumer Finance [Member] | Wyoming Financial Lenders, Inc. [Member] | Minimum [Member] | Payday [Member]
Non-recourse debt | $	$ 100
Consumer Finance [Member] | Wyoming Financial Lenders, Inc. [Member] | Minimum [Member] | Installment [Member]
Non-recourse debt | $	300
Consumer Finance [Member] | Wyoming Financial Lenders, Inc. [Member] | Maximum [Member] | Payday [Member]
Non-recourse debt | $	500
Consumer Finance [Member] | Wyoming Financial Lenders, Inc. [Member] | Maximum [Member] | Installment [Member]
Non-recourse debt | $	$ 800
Consumer Finance [Member] | Express Pawn, Inc. [Member]
Number of stores | Number	3
Percentage of equity method investment	100.00%

Loans Receivable (Details)

Loans Receivable (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	$ 4,900,775	$ 6,061,438
Less Allowance	(955,000)	(1,177,000)
Notes, Loans and Financing Receivable, Net, current	3,945,775	4,884,438
Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	3,754,612	4,644,167
1 To 30 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	260,961	375,396
31 to 60 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	187,367	287,719
61 To 90 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	208,052	215,819
91 To 120 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	167,851	205,540
121 To 150 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	169,108	165,371
151 To 180 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	152,824	167,426
Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	4,350,353	5,382,681
Less Allowance	(889,000)	(1,081,000)
Notes, Loans and Financing Receivable, Net, current	3,461,353	4,301,681
Payday [Member] | Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	3,295,567	4,065,706
Payday [Member] | 1 To 30 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	221,140	332,217
Payday [Member] | 31 to 60 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	162,501	263,486
Payday [Member] | 61 To 90 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	191,760	199,526
Payday [Member] | 91 To 120 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	162,082	196,123
Payday [Member] | 121 To 150 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	165,775	160,386
Payday [Member] | 151 To 180 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	151,528	165,237
Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	296,472	392,243
Less Allowance	(66,000)	(96,000)
Notes, Loans and Financing Receivable, Net, current	230,472	296,243
Installment Loans [Member] | Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	205,095	291,947
Installment Loans [Member] | 1 To 30 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	39,821	43,179
Installment Loans [Member] | 31 to 60 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	24,866	24,233
Installment Loans [Member] | 61 To 90 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	16,292	16,293
Installment Loans [Member] | 91 To 120 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	5,769	9,417
Installment Loans [Member] | 121 To 150 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	3,333	4,985
Installment Loans [Member] | 151 To 180 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	1,296	2,189
Pawn Title [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	$ 253,950	$ 286,514
Less Allowance
Notes, Loans and Financing Receivable, Net, current	$ 253,950	$ 286,514
Pawn Title [Member] | Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	$ 253,950	$ 286,514
Pawn Title [Member] | 1 To 30 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current
Pawn Title [Member] | 31 to 60 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current
Pawn Title [Member] | 61 To 90 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current
Pawn Title [Member] | 91 To 120 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current
Pawn Title [Member] | 121 To 150 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current
Pawn Title [Member] | 151 To 180 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current

Loans Receivable Allowance (Det

Loans Receivable Allowance (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Allowance for Loan and Lease Losses [Roll Forward]
Loans receivable allowance, beginning of period	$ 1,177,000	$ 1,219,000
Provision for loan losses charged to expense	302,872	1,904,893
Charge-offs, net	(524,872)	(1,946,893)
Loans receivable allowance, end of period	$ 955,000	$ 1,177,000

Loans Receivable Allowance (D30

Loans Receivable Allowance (Details Narrative)	Mar. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of historical written off	42.00%
1 To 30 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of historical written off	42.00%
31 to 60 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of historical written off	64.00%
61 To 90 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of historical written off	83.00%
91 To 120 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of historical written off	88.00%
121 To 150 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of historical written off	91.00%
151 To 180 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of historical written off	93.00%

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Accounts receivable	$ 3,589,444	$ 2,235,192
Less allowance	(137,000)	(272,000)
Net account receivable	3,452,444	1,963,192
Franchise [Member]
Accounts receivable	1,444,791	1,332,446
Less allowance	(100,000)	(183,000)
Net account receivable	1,344,791	1,149,446
Cellular Retail [Member]
Accounts receivable	$ 106,208	$ 148,346
Less allowance
Net account receivable	$ 106,208	$ 148,346
Direct to Consumer [Member]
Accounts receivable	2,038,445	754,400
Less allowance	(37,000)	(89,000)
Net account receivable	$ 2,001,445	$ 665,400

Deferred Revenue and Other Li32

Deferred Revenue and Other Liabilities (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Deferred Revenue Disclosure [Abstract]
Deferred financing fees	$ 203,445	$ 285,452
Deferred franchise development fees	350,634	264,000
Merchandise credits and gift card liability	939,069	1,127,470
Other	157,329	119,416
Total	$ 1,650,477	$ 1,796,338

Notes Payable - Long Term (Deta

Notes Payable - Long Term (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total	$ 7,021,458	$ 7,996,460
Less current maturities	(1,233,338)	(4,900,008)
Notes payable, noncurrent	5,788,120	3,096,452
Note Payable to River City Equity [Member]
Debt Instrument [Line Items]
Total	3,000,000	3,000,000
Note Payable to Financial Institution [Member]
Debt Instrument [Line Items]
Total	750,000	1,625,000
Note Payable to Financial Institution Two [Member]
Debt Instrument [Line Items]
Total	$ 3,271,458	$ 3,371,460

Notes Payable - Long Term (De34

Notes Payable - Long Term (Details 1) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
Year 1	$ 1,233,338
Year 2	1,058,341
Year 3	1,058,341
Year 4	2,729,767
Year 5	658,333
Thereafter	283,338
Long-term debt	$ 7,021,458	$ 7,996,460

Notes Payable - Long Term (De35

Notes Payable - Long Term (Details Narrative)	3 Months Ended
	Mar. 31, 2016USD ($)
Note Payable to River City Equity [Member]
Debt Instrument [Line Items]
Maturity date	Jun. 30, 2016
Stated interest rate	12.00%
Maximum borrowing capacity	$ 3,000,000
Note Payable to Financial Institution [Member]
Debt Instrument [Line Items]
Principal periodic payment	$ 375,000
Description of maturity date	March 2,017
Note Payable to Financial Institution [Member] | Addition to prime rate [Member]
Debt Instrument [Line Items]
Stated interest rate	2.50%
Note Payable to Financial Institution Two [Member]
Debt Instrument [Line Items]
Maturity date	Jun. 5, 2019
Principal periodic payment	$ 33,334
Stated interest rate	4.00%
Note Payable to Financial Institution Two [Member] | Addition to LIBOR Rate [Member]
Debt Instrument [Line Items]
Stated interest rate	3.50%

Other Operating Expense (Detail

Other Operating Expense (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Other Income and Expenses [Abstract]
Bank fees	$ 438,034	$ 149,523
Collection costs	116,188	111,319
Conference	265,405	210,645
Insurance	171,563	82,795
Management and advisory fees	221,025	149,502
Professional and consulting fees	595,210	406,032
Supplies	183,274	170,514
Other	829,552	660,891
Total other expenses	$ 2,820,251	$ 1,941,221

Pro Forma Information (Details)

Pro Forma Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue	$ 28,435	$ 31,033
% of total revenue	100.00%	100.00%
Net income	$ 1,975	$ 1,732
Net income attributable to noncontrolling interests	4	2
Net income attributable to WCR common shareholders	$ 1,971	$ 1,730
Earnings per share attributable to WCR common shareholders - basic and diluted	$ 0.208	$ 0.182
Franchise [Member]
Revenue	$ 3,612	$ 3,196
% of total revenue	12.70%	10.30%
Net income	$ 523	$ 299
Net income attributable to noncontrolling interests	4	2
Net income attributable to WCR common shareholders	$ 519	$ 297
Earnings per share attributable to WCR common shareholders - basic and diluted	$ 0.055	$ 0.031
Cellular Retail [Member]
Revenue	$ 9,775	$ 11,292
% of total revenue	34.40%	36.40%
Net income	$ 371	$ 392
Net income attributable to noncontrolling interests
Net income attributable to WCR common shareholders	$ 371	$ 392
Earnings per share attributable to WCR common shareholders - basic and diluted	$ 0.039	$ 0.041
Direct to Consumer [Member]
Revenue	$ 12,064	$ 13,451
% of total revenue	42.40%	43.30%
Net income	$ 904	$ 828
Net income attributable to noncontrolling interests
Net income attributable to WCR common shareholders	$ 904	$ 828
Earnings per share attributable to WCR common shareholders - basic and diluted	$ 0.095	$ 0.087
Consumer Finance [Member]
Revenue	$ 2,984	$ 3,094
% of total revenue	10.50%	10.00%
Net income	$ 312	$ 286
Net income attributable to noncontrolling interests
Net income attributable to WCR common shareholders	$ 312	$ 286
Earnings per share attributable to WCR common shareholders - basic and diluted	$ 0.033	$ 0.031
Corporate [Member]
Revenue
% of total revenue
Net income	$ (135)	$ (73)
Net income attributable to noncontrolling interests
Net income attributable to WCR common shareholders	$ (135)	$ (73)
Earnings per share attributable to WCR common shareholders - basic and diluted	$ (0.014)	$ (0.008)

Pro Forma Information (Details

Pro Forma Information (Details Narrative)	Jul. 02, 2015
JPPA, RAI and JPRE Transaction [Member] | Common Stock [Member]
Percent of voting rights issued as percent of post acquisition voting rights	100.00%

Segment Information (Details)

Segment Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Revenues from external customers	$ 28,435,286	$ 14,441,831
Net income (loss)	1,975,584	838,436
Total segment assets	55,451,420	34,496,000	$ 55,622,333
Franchise [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	3,612,000	3,196,000
Net income (loss)	523,000	299,000
Total segment assets	9,481,000	9,909,000
Cellular Retail [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	9,775,000	8,152,000
Net income (loss)	371,000	326,000
Total segment assets	14,746,000	$ 9,502,000
Direct to Consumer [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	12,064,000
Net income (loss)	904,000
Total segment assets	16,779,000
Consumer Finance [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	2,984,000	$ 3,094,000
Net income (loss)	312,000	286,000
Total segment assets	$ 13,747,000	$ 15,085,000
Corporate [Member]
Segment Reporting Information [Line Items]
Revenues from external customers
Net income (loss)	$ (135,000)	$ (73,000)
Total segment assets	$ 698,000

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Other Employment Agreement [Member]
Bonus arrangement current	$ 356,000	$ 182,000

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	Apr. 22, 2016	Mar. 31, 2016
Note Payable to River City Equity [Member]
Maximum borrowing capacity		$ 3,000,000
Maturity date		Jun. 30, 2016
Subsequent Event [Member] | Credit Agreement [Member]
Description of interest rate terms	Interest at a floating per annum rate equal to one-month LIBOR plus 3.50%, adjusted on a monthly basis.
Subsequent Event [Member] | Credit Agreement [Member] | Revolving Credit Facility [Member]
Maximum borrowing capacity	$ 3,000,000
Maturity date	Apr. 21, 2018
Subsequent Event [Member] | Credit Agreement [Member] | Acqusition Loan Facility [Member]
Maximum borrowing capacity	$ 9,000,000
Maturity date	Apr. 21, 2018
Advance from credit facility	$ 3,500,000
Subsequent Event [Member] | Credit Agreement [Member] | Acqusition Loan Facility [Member] | Note Payable to River City Equity [Member]
Repayment of debt	3,000,000
Subsequent Event [Member] | Credit Agreement [Member] | Acqusition Loan Facility [Member] | Other Term Debt [Member]
Repayment of debt	$ 500,000