Western Capital Resources (WCRS) 10-Q 15 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 15, 2018
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, 2018
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		9,390,997
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,018

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
CURRENT ASSETS
Cash and cash equivalents	$ 9,125,283	$ 21,295,819
Short-term investments	44,386,857	32,292,902
Loans receivable (net of allowance for losses of $698,000 and $833,000, respectively)	3,362,498	4,310,003
Accounts receivable (net of allowance for losses of $57,000 and $16,000, respectively)	2,191,743	764,071
Inventory (net of allowance of $577,000 and $576,000, respectively)	10,010,703	9,130,842
Prepaid expenses and other	3,691,137	3,762,974
Escrow and other receivables	3,285,231	3,482,770
TOTAL CURRENT ASSETS	76,053,452	75,039,381
INVESTMENTS	2,000,000	3,000,000
PROPERTY AND EQUIPMENT, net	11,116,899	11,347,234
GOODWILL	5,796,528	5,796,528
INTANGIBLE ASSETS, net	4,819,669	4,987,769
ESCROW FUNDS RECEIVABLE	3,250,000	3,250,000
OTHER	668,807	823,244
TOTAL ASSETS	103,705,355	104,244,156
CURRENT LIABILITIES
Accounts payable and accrued expenses	11,996,557	11,897,968
Other current liabilities	1,198,493	1,354,558
Income taxes payable	18,725,244	18,730,647
Note payable - short-term	29,250	51,992
Current portion capital lease obligations	47,858	47,174
Deferred revenue	1,164,450	1,073,600
TOTAL CURRENT LIABILITIES	33,161,852	33,155,939
LONG-TERM LIABILITIES
Notes payable, net of current portion	789,216	789,216
Capital lease obligations, net of current portion	38,934	51,172
Deferred income taxes	1,379,000	1,456,000
Other	98,259	98,259
TOTAL LONG-TERM LIABILITIES	2,305,409	2,394,647
TOTAL LIABILITIES	35,467,261	35,550,586
COMMITMENTS AND CONTINGENCIES (Note 14)
WESTERN SHAREHOLDERS' EQUITY
Common stock, $0.001 par value, 12,500,000 shares authorized, 9,390,997 shares issued and outstanding.	939	939
Additional paid-in capital	29,031,741	29,031,741
Retained earnings	37,262,637	37,903,204
TOTAL WESTERN SHAREHOLDERS' EQUITY	66,295,317	66,935,884
NONCONTROLLING INTERESTS	1,942,777	1,757,686
TOTAL EQUITY	68,238,094	68,693,570
TOTAL LIABILITIES AND EQUITY	$ 103,705,355	$ 104,244,156

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Loans receivable, allowance for losses	$ 698,000	$ 833,000
Accounts receivable, allowance for losses	57,000	16,000
Inventory , allowance for losses	$ 577,000	$ 576,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized	12,500,000	12,500,000
Common stock, issued	9,390,997	9,390,997
Common stock, outstanding	9,390,997	9,390,997

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
REVENUES
Sales and associated fees	$ 23,817,194	$ 24,559,130
Financing fees and interest	2,174,546	2,233,409
Other revenue	4,467,019	4,899,158
Total Revenues	30,458,759	31,691,697
COST OF REVENUES
Cost of sales	12,166,033	12,067,936
Provisions for loans receivable losses	200,202	237,581
Total Cost of Revenues	12,366,235	12,305,517
GROSS PROFIT	18,092,524	19,386,180
OPERATING EXPENSES
Salaries, wages and benefits	9,317,793	8,892,652
Occupancy	3,422,218	2,911,292
Advertising, marketing and development	2,029,315	1,906,553
Depreciation	558,989	326,196
Amortization	214,808	54,401
Other	2,695,240	2,741,787
Total Operating Expenses	18,238,363	16,832,881
OPERATING INCOME (LOSS) FROM CONTINUING OPERATIONS	(145,839)	2,553,299
OTHER INCOME (EXPENSES):
Interest and dividend income	167,511	64,075
Interest expense	(87,598)	(57,371)
Total Other Income (Expense)	79,913	6,704
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(65,926)	2,560,003
PROVISION FOR INCOME TAX EXPENSE (BENEFIT) FOR CONTINUING OPERATIONS	(80,000)	951,000
NET INCOME FROM CONTINUING OPERATIONS	14,074	1,609,003
LESS NET INCOME FROM CONTINUING OPERATIONS ATTRIBUTABLE TO NONCONTROLLING INTEREST	(185,091)
NET INCOME (LOSS) FROM CONTINUING OPERATIONS ATTRIBUTABLE TO WESTERN COMMON SHAREHOLDERS	(171,017)	1,609,003
DISCONTINUED OPERATIONS
Income from operations of discontinued operations		1,070,321
Less provision for income taxes for discontinued operations		(412,000)
Net income from discontinued operations		658,321
Less net income from discontinued operations attributable to noncontrolling interests		(5,085)
Net income from discontinued operations attributable to Western common shareholders		653,236
NET INCOME (LOSS) ATTRIBUTABLE TO WESTERN COMMON SHAREHOLDERS	$ (171,017)	$ 2,262,239
EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO WESTERN COMMON SHAREHOLDERS
FROM CONTINUING OPERATIONS - Basic and diluted (in dollars per share)	$ (0.02)	$ 0.17
FROM DISCONTINUED OPERATIONS - Basic and diluted (in dollars per share)		0.07
FROM CONTINUING AND DISCONTINUED OPERATIONS - Basic and diluted (in dollars per share)	$ (0.02)	$ 0.24
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic and diluted (in shares)	9,390,997	9,472,934

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
OPERATING ACTIVITIES
Net income from continuing operations	$ 14,074	$ 1,609,003
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	558,989	326,196
Amortization	214,808	54,401
Share based compensation		8,899
Deferred income taxes	(77,000)	66,000
Investments discount amortization	(99,991)
Loss (gain) on disposal of property and equipment	170,448	(270)
Changes in operating assets and liabilities:
Loans receivable	947,505	908,337
Accounts receivable	(1,427,672)	(1,085,312)
Inventory	(960,909)	(1,246,831)
Prepaid expenses and other assets	157,752	(831,683)
Accounts payable and accrued expenses	93,186	298,300
Deferred revenue and other current liabilities	(65,215)	(15,825)
Operating cash flows from discontinued operations		354,253
Net cash and cash equivalents provided by (used in) operating activities	(474,025)	445,468
INVESTING ACTIVITIES
Purchases of investments	(11,961,900)
Proceeds from held-to-maturity investments	1,000,000
Purchase of property and equipment	(350,021)	(754,130)
Acquisition of stores, net of cash acquired	(76,707)
Advances on note receivable, net		(517,844)
Proceeds from installment sale receivable	185,963
Proceeds from the disposal of property, plant and equipment	10,000	14,459
Cash received from discontinued operations		3,147,493
Net cash and cash equivalents provided by (used in) investing activities	(11,192,665)	1,889,978
FINANCING ACTIVITIES
Payments on notes payable - short-term, net	(22,742)	(25,799)
Payments on line of credit, net		(853,544)
Payments on notes payable - long-term		(501,669)
Common stock redemption		(480,928)
Payments on capital leases	(11,554)	(11,960)
Payment of dividends	(469,550)	(234,775)
Financing activities of discontinued operations		(3,178,348)
Net cash and cash equivalents used in financing activities	(503,846)	(5,287,023)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(12,170,536)	(2,951,577)
CASH AND CASH EQUIVALENTS
Beginning of period	21,295,819	14,159,975
End of period	9,125,283	11,208,398
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Income taxes paid	2,403	7,169
Interest paid	$ 20,869	$ 135,686

Basis of Presentation, Nature o

Basis of Presentation, Nature of Business and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
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, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018. 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, 2017. The condensed consolidated balance sheet at December 31, 2017, 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. • Cellular Retail o PQH Wireless, Inc. (PQH) (100%) – operates 236 cellular retail stores as of March 31, 2018 (179 100% owned plus 57 through a 70% owned subsidiary), as an exclusive dealer of the Cricket brand. • Direct to Consumer o J & P Park Acquisitions, Inc. (JPPA) (100%) – an online and direct marketing distribution retailer of 1) live plants, seeds, holiday gifts and garden accessories selling its products under Park Seed, Jackson & Perkins, and Wayside Gardens brand names and 2) home improvement and restoration products operating under the Van Dyke’s Restorers brand, as well as a seed wholesaler under the Park Wholesale brand. o J & P Real Estate, LLC (JPRE) (100%) – owns real estate utilized as JPPA’s distribution and warehouse facility and the corporate offices of JPPA. • Consumer Finance o Wyoming Financial Lenders, Inc. (WFL) (100%) – owns and operates “payday” stores (40 as of March 31, 2018) in seven states (Colorado, Iowa, Kansas, Nebraska, North 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 pawn stores (three as of March 31, 2018) in Nebraska and Iowa providing collateralized non-recourse pawn loans and retail sales of merchandise obtained from forfeited pawn loans or purchased from customers. • Discontinued Operations 2017 - Franchise o AlphaGraphics, Inc. (AGI) – franchisor of domestic and international AlphaGraphics Business Centers which specialize in the planning, production, and management of visual communications for businesses and individuals throughout the world. AGI was sold on October 2, 2017. 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 as” “PQH,” “JPPA,” “JPRE,” “WFL,” “EPI” or “AGI” 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 Financial Accounting Standards Board Accounting Standards Codification (ASC) 810, “Consolidation” 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, with the exception of the presentation of dividends received from discontinued subsidiary operations in the Condensed Consolidated Statement of Cash Flows. Use of Estimates The preparation of 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 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 loans and accounts 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 merchandise credits liability and deferred taxes and tax uncertainties. Reclassifications Certain Statements of Income and Statements of Cash Flows 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, 2018. In accordance with ASC 205-20-45-6, interest on debt required to be paid as a result of our Franchise segment disposal transaction has been allocated to discontinued operations and, in accordance with ASC 205-20-45-9, general corporate overhead has not been allocated to discontinued operations. These re-allocations and related income tax have been made in the presentation of our prior financial statements and accompanying notes. 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 is effective for annual and interim periods beginning after December 15, 2017. The Company has adopted this standard as of January 1, 2018 applying it on a retrospective basis as of the date adopted and determined it had no impact on our financial condition, results of operations and consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), related to recognition of lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The ASU is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that annual period, with early adoption permitted and to be applied using a modified retrospective approach. The Company is currently evaluating the impact the ASU will have on our financial condition, results of operations and consolidated financial statements and expects its adoption to have a material impact on our financial condition due to a material addition of operating lease assets and liabilities in accordance with the ASU. No other new accounting pronouncements issued or effective during the fiscal year have had or are expected to have a material impact on the consolidated financial statements.

Risks Inherent in the Operating

Risks Inherent in the Operating Environment	3 Months Ended
	Mar. 31, 2018
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 federal, state, and local 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. After several years of research, debate, and public hearings, in October 2017 the U.S. Consumer Financial Protection Bureau (CFPB) issued new rules for payday lending. The proposed rules, scheduled to go into effect in August 2019, would impose significant restrictions on the industry, and it is expected that a large number of lenders would be forced to close their stores. The CFPB’s studies projected a reduction in the number of lenders by 50%, while industry studies forecast a much higher attrition rate. At this time it is uncertain whether the rule will be implemented as announced, rewritten with more favorable terms for the industry, or thrown out altogether. If the rule is implemented as written, it could have a significant and negative impact on business conducted within our Consumer Finance segment. The above rule or any other adverse change in present federal, state, or local 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 federal, state or local 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 affects its ability to obtain additional financing as needed. In addition, the passage of federal, state or local 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.

Cash Equivalents and Investment

Cash Equivalents and Investments	3 Months Ended
	Mar. 31, 2018
Cash and Cash Equivalents [Abstract]
Cash Equivalents and Investments	3. Cash Equivalents and Investments – The following table shows the Company’s cash equivalents and held-to-maturity investments, by significant investment category, recorded as cash equivalents or short- and long-term investments as of March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Cash and cash equivalents Operating accounts $ 8,778,235 $ 10,524,923 Certificates of deposit - 750,000 Money Market Mutual Funds - U.S. Treasury obligations 347,048 10,020,896 Subtotal 9,125,283 21,295,819 Held to Maturity Investments Certificates of deposit 14,297,734 13,250,000 T-Bill Zero CPN 32,089,123 22,042,902 Subtotal 46,386,857 35,292,902 TOTAL $ 55,512,140 $ 56,588,721 As of March 31, 2018, held to maturity securities consisted of the following: Cost Accrued Interest Amortized Discount Amortized Cost Unrealized Gain (Loss) Estimated Fair Value Certificates of Deposit $ 14,250,000 $ 47,734 $ - $ 14,297,734 $ (87,544) $ 14,210,190 Treasury Bills $ 31,961,012 $ - $ 128,111 $ 32,089,123 $ (1,897) $ 32,087,226

Loans Receivable

Loans Receivable	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Loans Receivable	4. Loans Receivable – The Consumer Finance segment’s outstanding loans receivable aging was as follows: March 31, 2018 Payday Installment Pawn & Title Total Current $ 2,773,711 $ 190,525 $ 263,650 $ 3,227,886 1-30 166,548 38,121 - 204,669 31-60 108,590 23,535 - 132,125 61-90 145,640 15,484 - 161,124 91-120 97,171 9,294 - 106,465 121-150 112,903 3,299 - 116,202 151-180 110,344 1,683 - 112,027 3,514,907 281,941 263,650 4,060,498 Less Allowance (627,000) (71,000) - (698,000) $ 2,887,907 $ 210,941 $ 263,650 $ 3,362,498 December 31, 2017 Payday Installment Pawn & Title Total Current $ 3,550,077 $ 271,926 $ 318,361 $ 4,140,364 1-30 216,376 47,356 - 263,732 31-60 187,916 27,766 - 215,682 61-90 150,278 17,976 - 168,254 91-120 110,943 11,870 - 122,813 121-150 131,171 4,748 - 135,919 151-180 93,222 3,017 - 96,239 4,439,983 384,659 318,361 5,143,003 Less Allowance (745,000) (88,000) - (833,000) $ 3,694,983 $ 296,659 $ 318,361 $ 4,310,003

Loans Receivable Allowance

Loans Receivable Allowance	3 Months Ended
	Mar. 31, 2018
Provision for Loan and Lease Losses [Abstract]
Loans Receivable Allowance	5. Loans Receivable Allowance – A rollforward of the Consumer Finance segment’s loans receivable allowance is as follows: Three Months Ended March 31, 2018 Year Ended December 31, 2017 Loans receivable allowance, beginning of period $ 833,000 $ 1,036,000 Provision for loan losses charged to expense 200,202 1,122,144 Charge-offs, net (335,202) (1,325,144) Loans receivable allowance, end of period $ 698,000 $ 833,000

Accounts Receivable

Accounts Receivable	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Accounts Receivable	6. Accounts Receivable – A breakdown of accounts receivables by segment as of March 31, 2018 and December 31, 2017 are as follows: March 31, 2018 Cellular Retail Direct to Consumer Consumer Finance Total Accounts receivable $ 315,549 $ 1,920,585 $ 12,609 $ 2,248,743 Less allowance - (57,000) - (57,000) Net account receivable $ 315,549 $ 1,863,585 $ 12,609 $ 2,191,743 December 31, 2017 Cellular Retail Direct to Consumer Consumer Finance Total Accounts receivable $ 399,459 $ 365,476 $ 15,136 $ 780,071 Less allowance - (16,000) - (16,000) Net account receivable $ 399,459 $ 349,476 $ 15,136 $ 764,071

Inventory

Inventory	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Inventory	7. Inventory – Finished goods inventory net of allowance by segment consists of the following: Three Months Ended March 31, 2018 Year Ended December 31, 2017 Cellular Retail $ 5,742,969 $ 5,287,932 Direct to Consumer 3,457,377 2,988,052 Consumer Finance 810,357 854,858 $ 10,010,703 $ 9,130,842

Notes Payable - Long Term

Notes Payable - Long Term	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Notes Payable - Long Term	8. Notes Payable – Long Term – March 31, 2018 December 31, 2017 Subsidiary subordinated note pa yab le to seller with monthly interest only payments at 6%, guaranteed by PQH , maturing August 5 22 the . 789,216 789,216 Total 789,216 789,216 Less current maturities - - $ 789,216 $ 789,216 The Company is party to a Credit Agreement with a financial institution entered into on April 22, 2016 and subject to subsequent amendments. The Credit Agreement provides the Company with a revolving line of credit facility in an aggregate amount up to $3,000,000, having a maturity date of April 21, 2018 and an acquisition loan facility in an aggregate amount of up to $9,000,000, having a maturity date of April 21, 2018. The revolver and the acquisition loan facility bear interest at a floating per annum rate equal to one-month LIBOR plus 3.50%, adjusted on a monthly basis. Funds advanced under the acquisition loan facility mature five years from the date of advance. At March 31, 2018, the entire $12,000,000 of credit was available under the credit facilities. See Notes 14 and 15 for additional terms, conditions and amendment related to the Credit Agreement.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes – The provision for income taxes for continuing operations is 121.3% and 37.1% of income before the provision for income taxes for the three month period ended March 31, 2018 and 2017, respectively. The significant difference in rate is the result of the 2018 net income attributable to noncontrolling interests not being subjected to income tax at the corporate level. Rather the “passthrough” taxable income is taxed to the noncontrolling interests at an individual level.

Cash Dividends

Cash Dividends	3 Months Ended
	Mar. 31, 2018
Dividends [Abstract]
Cash Dividends	10. Cash Dividends – Date declared January 18, 2018 Record date February 9, 2018 Date paid February 14, 2018 Dividend per share of common stock $0.05

Other Operating Expense

Other Operating Expense	3 Months Ended
	Mar. 31, 2018
Other Income and Expenses [Abstract]
Other Operating Expense	11. Other Operating Expense – A breakout of other expense is as follows: For The Three Months Ended March 31, 2018 2017 Bank fees $ 502,564 $ 532,175 Collection costs 84,605 89,894 Insurance 205,295 240,740 Management and advisory fees 193,710 153,481 Professional and consulting fees 543,096 662,089 Supplies 217,436 324,136 Other 948,534 739,272 $ 2,695,240 $ 2,741,787

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	12. Discontinued Operations – As more fully disclosed in Note 19 of the Notes to Consolidated Financial Statements for the year ended December 31, 2017, on October 3, 2017 the Company closed on the sale of its franchise segment. In accordance with the provisions of ASC 205-20, the Company has not included the results of operations of the Franchise segment in the results from continuing operations. The results of operations for this business have been reflected as discontinued operations in the unaudited Condensed Consolidated Statements of Operations for the three month periods ended March 31, 2017, and consist of the following: Three Months Ended March 31, 2017 REVENUES OF DISCONTINUED OPERATIONS $ 3,943,309 COST OF REVENUES OF DISCONTINUED OPERATIONS 648,197 GROSS PROFIT OF DISCONTINUED OPERATIONS 3,295,112 OPERATING EXPENSES OF DISCONTINUED OPERATIONS: Salaries, wages and benefits 1,098,739 Occupancy 42,764 Advertising, marketing and development 102,597 Depreciation 24,092 Amortization 86,118 Other 789,700 2,144,010 OPERATING INCOME OF DISCONTINUED OPERATIONS 1,151,102 OTHER INCOME (EXPENSE) OF DISCONTINUED OPERATIONS Interest expense (80,781) INCOME BEFORE INCOME TAXES OF DISCONTINUED OPERATIONS 1,070,321 PROVISION FOR INCOME TAXES OF DISCONTINUED OPERATIONS 412,000 NET INCOME OF DISCONTINUED OPERATIONS 658,321 Less net income of discontinued operations attributable to noncontrolling interests (5,085) NET INCOME OF DISCONTINUED OPERATIONS ATTRIBUTABLE TO WESTERN COMMON SHAREHOLDERS $ 653,236 In accordance with the provisions of ASC 205-20, the Company has separately reported the cash flow activity of the discontinued operations of the Franchise segment in the Consolidated Statements of Cash Flows. The cash flow activity from discontinued operations have been reflected as discontinued operations in the Consolidated Statements of Cash Flows for the three month period ended March, 2017, and consist of the following: Three Months Ended March 31, 2017 DISCONTINUED OPERATING ACTIVITIES Net income of discontinued operations $ 658,321 Adjustments to reconcile net income of discontinued operations to net cash provided by operating activities of discontinued operations: Depreciation 24,092 Amortization 86,118 Share based compensation 2,243 Deferred income taxes (29,000) Changes in operating assets and liabilities: Accounts receivable (606,126) Prepaid expenses and other assets 114,753 Accounts payable and accrued expenses (597,356) Deferred revenue and other current liabilities 682,016 Other liabilities – long-term 19,192 Net cash provided by operating activities of discontinued operations $ 354,253 FINANCING ACTIVITIES OF DISCONTINUED OPERATIONS Principal payments on capital lease obligations $ (7,620) Dividends to shareholders (3,170,728) Net cash used in financing activities of discontinued operations $ (3,178,348)

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Information	13. Segment Information – Segment information related to the three month periods ended March 31, 2018 and 2017 for continuing operations is presented below: Three Months Ended March 31, 2018 (in thousands) Cellular Retail Direct to Consumer Consumer Finance Corporate Total Revenue from external customers $ 17,107 $ 10,681 $ 2,671 $ - $ 30,459 Net income (loss) $ (375) $ 329 $ 331 $ (271) $ 14 Total segment assets $ 27,567 $ 15,057 $ 7,003 $ 54,078 $ 103,705 Expenditures for segmented assets $ 117 $ 310 $ - $ - $ 427 Three Months Ended March 31, 2017 (in thousands) Cellular Retail Direct to Consumer Consumer Finance Corporate Discontinued Operations Total Revenue from external customers $ 17,045 $ 11,904 $ 2,743 $ - $ - $ 31,692 Net income (loss) $ 669 $ 866 $ 254 $ (180) $ - $ 1,609 Total segment assets $ 24,794 $ 15,429 $ 8,047 $ 4,076 $ 8,879 $ 61,225 Expenditures for segmented assets $ 673 $ 81 $ - $ - $ - $ 754

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	14. Commitments and Contingencies – Employment Agreements Pursuant to the Company’s numerous employment agreements, bonuses for continuing operation of approximately $73,000 and $256,000 were accrued for the three month periods ended March 31, 2018 and 2017, respectively. Credit Facility The Company is party to a Credit Agreement with a financial institution. Certain Company subsidiaries are guarantors of the borrowings and obligations under the Credit Agreement. All borrowings under the Credit Agreement are secured by substantially all assets of WCR and the guarantor subsidiaries. The Credit Agreement requires WCR 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 WCR or any guarantor subsidiary generally may nonetheless merge with another party if (i) WCR 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 WCR’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 WCR 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. Some covenant waivers were granted by the financial institution during the period ended March 31, 2018. Assigned Leases The Company’s Cellular Retail segment has transferred operations of 37 locations to other dealers. Minimum lease payments of assigned or assumed non-cancelable operating leases related to transferred locations in which a release has not been obtained from the lessor are approximately $3,000,000 as of March 31, 2018.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events – Credit Facility On April 26, 2018 the Company entered into a Fourth Loan Modification Agreement related to the Credit Agreement with a financial institution, pursuant to which, among other things, the maturity date of the Credit Agreement was extended to April 21, 2020 and the financial covenants were modified by removing the consolidated leverage ratio and consolidated fixed charge coverage ratio covenants and adding a minimum liquidity covenant. Dividend Declared Our Board of Directors declared the following dividend: Date declared May 2, 2018 Record date May 17, 2018 Date paid May 24, 2018 Dividend per share of common stock $0.05 We evaluated all events or transactions that occurred after March 31, 2018 up through the date we issued these financial statements. During this period we did not have any material subsequent events that impacted our financial statements.

Basis of Presentation, Nature21

Basis of Presentation, Nature of Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
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, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018. 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, 2017. The condensed consolidated balance sheet at December 31, 2017, 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. · Cellular Retail o PQH Wireless, Inc. (PQH) (100%) – operates 236 cellular retail stores as of March 31, 2018 (179 100% owned plus 57 through a 70% owned subsidiary), as an exclusive dealer of the Cricket brand. · Direct to Consumer o J & P Park Acquisitions, Inc. (JPPA) (100%) – an online and direct marketing distribution retailer of 1) live plants, seeds, holiday gifts and garden accessories selling its products under Park Seed, Jackson & Perkins, and Wayside Gardens brand names and 2) home improvement and restoration products operating under the Van Dyke’s Restorers brand, as well as a seed wholesaler under the Park Wholesale brand. o J & P Real Estate, LLC (JPRE) (100%) – owns real estate utilized as JPPA’s distribution and warehouse facility and the corporate offices of JPPA. · Consumer Finance o Wyoming Financial Lenders, Inc. (WFL) (100%) – owns and operates “payday” stores (40 as of March 31, 2018) in seven states (Colorado, Iowa, Kansas, Nebraska, North 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 pawn stores (three as of March 31, 2018) in Nebraska and Iowa providing collateralized non-recourse pawn loans and retail sales of merchandise obtained from forfeited pawn loans or purchased from customers. · Discontinued Operations 2017 - Franchise o AlphaGraphics, Inc. (AGI) – franchisor of domestic and international AlphaGraphics Business Centers which specialize in the planning, production, and management of visual communications for businesses and individuals throughout the world. AGI was sold on October 2, 2017. 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 as” “PQH,” “JPPA,” “JPRE,” “WFL,” “EPI” or “AGI” 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 Financial Accounting Standards Board Accounting Standards Codification (ASC) 810, “Consolidation” 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, with the exception of the presentation of dividends received from discontinued subsidiary operations in the Condensed Consolidated Statement of Cash Flows.
Use of Estimates	Use of Estimates The preparation of 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 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 loans and accounts 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 merchandise credits liability and deferred taxes and tax uncertainties.
Reclassifications	Reclassifications Certain Statements of Income and Statements of Cash Flows 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, 2018. In accordance with ASC 205-20-45-6, interest on debt required to be paid as a result of our Franchise segment disposal transaction has been allocated to discontinued operations and, in accordance with ASC 205-20-45-9, general corporate overhead has not been allocated to discontinued operations. These re-allocations and related income tax have been made in the presentation of our prior financial statements and accompanying notes.
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 is effective for annual and interim periods beginning after December 15, 2017. The Company has adopted this standard as of January 1, 2018 applying it on a retrospective basis as of the date adopted and determined it had no impact on our financial condition, results of operations and consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), related to recognition of lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The ASU is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that annual period, with early adoption permitted and to be applied using a modified retrospective approach. The Company is currently evaluating the impact the ASU will have on our financial condition, results of operations and consolidated financial statements and expects its adoption to have a material impact on our financial condition due to a material addition of operating lease assets and liabilities in accordance with the ASU. No other new accounting pronouncements issued or effective during the fiscal year have had or are expected to have a material impact on the consolidated financial statements.

Cash Equivalents and Investme22

Cash Equivalents and Investments (Tables)	3 Months Ended
	Mar. 31, 2018
Cash and Cash Equivalents [Abstract]
Schedule of cash equivalents or short- and long-term investments	The following table shows the Company’s cash equivalents and held-to-maturity investments, by significant investment category, recorded as cash equivalents or short- and long-term investments as of March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Cash and cash equivalents Operating accounts $ 8,778,235 $ 10,524,923 Certificates of deposit - 750,000 Money Market Mutual Funds - U.S. Treasury obligations 347,048 10,020,896 Subtotal 9,125,283 21,295,819 Held to Maturity Investments Certificates of deposit 14,297,734 13,250,000 T-Bill Zero CPN 32,089,123 22,042,902 Subtotal 46,386,857 35,292,902 TOTAL $ 55,512,140 $ 56,588,721
Schedule of held to maturity securities	As of March 31, 2018, held to maturity securities consisted of the following: Cost Accrued Interest Amortized Discount Amortized Cost Unrealized Gain (Loss) Estimated Fair Value Certificates of Deposit $ 14,250,000 $ 47,734 $ - $ 14,297,734 $ (87,544) $ 14,210,190 Treasury Bills $ 31,961,012 $ - $ 128,111 $ 32,089,123 $ (1,897) $ 32,087,226

Loans Receivable (Table)

Loans Receivable (Table)	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Schedule of outstanding loans receivable aging	The Consumer Finance segment’s outstanding loans receivable aging was as follows: March 31, 2018 Payday Installment Pawn & Title Total Current $ 2,773,711 $ 190,525 $ 263,650 $ 3,227,886 1-30 166,548 38,121 - 204,669 31-60 108,590 23,535 - 132,125 61-90 145,640 15,484 - 161,124 91-120 97,171 9,294 - 106,465 121-150 112,903 3,299 - 116,202 151-180 110,344 1,683 - 112,027 3,514,907 281,941 263,650 4,060,498 Less Allowance (627,000) (71,000) - (698,000) $ 2,887,907 $ 210,941 $ 263,650 $ 3,362,498 December 31, 2017 Payday Installment Pawn & Title Total Current $ 3,550,077 $ 271,926 $ 318,361 $ 4,140,364 1-30 216,376 47,356 - 263,732 31-60 187,916 27,766 - 215,682 61-90 150,278 17,976 - 168,254 91-120 110,943 11,870 - 122,813 121-150 131,171 4,748 - 135,919 151-180 93,222 3,017 - 96,239 4,439,983 384,659 318,361 5,143,003 Less Allowance (745,000) (88,000) - (833,000) $ 3,694,983 $ 296,659 $ 318,361 $ 4,310,003

Loans Receivable Allowance (Tab

Loans Receivable Allowance (Tables)	3 Months Ended
	Mar. 31, 2018
Provision for Loan and Lease Losses [Abstract]
Schedule of loans receivable allowance	A rollforward of the Consumer Finance segment’s loans receivable allowance is as follows: Three Months Ended March 31, 2018 Year Ended December 31, 2017 Loans receivable allowance, beginning of period $ 833,000 $ 1,036,000 Provision for loan losses charged to expense 200,202 1,122,144 Charge-offs, net (335,202) (1,325,144) Loans receivable allowance, end of period $ 698,000 $ 833,000

Accounts Receivable (Tables)

Accounts Receivable (Tables)	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Schedule of accounts receivables	A breakdown of accounts receivables by segment as of March 31, 2018 and December 31, 2017 are as follows: March 31, 2018 Cellular Retail Direct to Consumer Consumer Finance Total Accounts receivable $ 315,549 $ 1,920,585 $ 12,609 $ 2,248,743 Less allowance - (57,000) - (57,000) Net account receivable $ 315,549 $ 1,863,585 $ 12,609 $ 2,191,743 December 31, 2017 Cellular Retail Direct to Consumer Consumer Finance Total Accounts receivable $ 399,459 $ 365,476 $ 15,136 $ 780,071 Less allowance - (16,000) - (16,000) Net account receivable $ 399,459 $ 349,476 $ 15,136 $ 764,071

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Schedule of inventory	Finished goods inventory net of allowance by segment consists of the following: Three Months Ended March 31, 2018 Year Ended December 31, 2017 Cellular Retail $ 5,742,969 $ 5,287,932 Direct to Consumer 3,457,377 2,988,052 Consumer Finance 810,357 854,858 $ 10,010,703 $ 9,130,842

Notes Payable - Long Term (Tabl

Notes Payable - Long Term (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of long-term debt instruments	March 31, 2018 December 31, 2017 Subsidiary subordinated note pa yab le to seller with monthly interest only payments at 6%, guaranteed by PQH , maturing August 5 22 the . 789,216 789,216 Total 789,216 789,216 Less current maturities - - $ 789,216 $ 789,216

Cash Dividends (Tables)

Cash Dividends (Tables)	3 Months Ended
	Mar. 31, 2018
Dividends, Common Stock [Abstract]
Schedule of dividends payable	Date declared January 18, 2018 Record date February 9, 2018 Date paid February 14, 2018 Dividend per share of common stock $0.05

Other Operating Expense (Tables

Other Operating Expense (Tables)	3 Months Ended
	Mar. 31, 2018
Other Income and Expenses [Abstract]
Schedule of other operating expense	A breakout of other expense is as follows: For The Three Months Ended March 31, 2018 2017 Bank fees $ 502,564 $ 532,175 Collection costs 84,605 89,894 Insurance 205,295 240,740 Management and advisory fees 193,710 153,481 Professional and consulting fees 543,096 662,089 Supplies 217,436 324,136 Other 948,534 739,272 $ 2,695,240 $ 2,741,787

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Schedule of statements	The results of operations for this business have been reflected as discontinued operations in the unaudited Condensed Consolidated Statements of Operations for the three month periods ended March 31, 2017, and consist of the following: Three Months Ended March 31, 2017 REVENUES OF DISCONTINUED OPERATIONS $ 3,943,309 COST OF REVENUES OF DISCONTINUED OPERATIONS 648,197 GROSS PROFIT OF DISCONTINUED OPERATIONS 3,295,112 OPERATING EXPENSES OF DISCONTINUED OPERATIONS: Salaries, wages and benefits 1,098,739 Occupancy 42,764 Advertising, marketing and development 102,597 Depreciation 24,092 Amortization 86,118 Other 789,700 2,144,010 OPERATING INCOME OF DISCONTINUED OPERATIONS 1,151,102 OTHER INCOME (EXPENSE) OF DISCONTINUED OPERATIONS Interest expense (80,781) INCOME BEFORE INCOME TAXES OF DISCONTINUED OPERATIONS 1,070,321 PROVISION FOR INCOME TAXES OF DISCONTINUED OPERATIONS 412,000 NET INCOME OF DISCONTINUED OPERATIONS 658,321 Less net income of discontinued operations attributable to noncontrolling interests (5,085) NET INCOME OF DISCONTINUED OPERATIONS ATTRIBUTABLE TO WESTERN COMMON SHAREHOLDERS $ 653,236 The cash flow activity from discontinued operations have been reflected as discontinued operations in the Consolidated Statements of Cash Flows for the three month period ended March, 2017, and consist of the following: Three Months Ended March 31, 2017 DISCONTINUED OPERATING ACTIVITIES Net income of discontinued operations $ 658,321 Adjustments to reconcile net income of discontinued operations to net cash provided by operating activities of discontinued operations: Depreciation 24,092 Amortization 86,118 Share based compensation 2,243 Deferred income taxes (29,000) Changes in operating assets and liabilities: Accounts receivable (606,126) Prepaid expenses and other assets 114,753 Accounts payable and accrued expenses (597,356) Deferred revenue and other current liabilities 682,016 Other liabilities – long-term 19,192 Net cash provided by operating activities of discontinued operations $ 354,253 FINANCING ACTIVITIES OF DISCONTINUED OPERATIONS Principal payments on capital lease obligations $ (7,620) Dividends to shareholders (3,170,728) Net cash used in financing activities of discontinued operations $ (3,178,348)

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Schedule of segment information	Segment information related to the three month periods ended March 31, 2018 and 2017 for continuing operations is presented below: Three Months Ended March 31, 2018 (in thousands) Cellular Retail Direct to Consumer Consumer Finance Corporate Total Revenue from external customers $ 17,107 $ 10,681 $ 2,671 $ - $ 30,459 Net income (loss) $ (375) $ 329 $ 331 $ (271) $ 14 Total segment assets $ 27,567 $ 15,092 $ 7,003 $ 54,043 $ 103,705 Expenditures for segmented assets $ 117 $ 310 $ - $ - $ 427 Three Months Ended March 31, 2017 (in thousands) Cellular Retail Direct to Consumer Consumer Finance Corporate Discontinued Operations Total Revenue from external customers $ 17,045 $ 11,904 $ 2,743 $ - $ - $ 31,692 Net income (loss) $ 669 $ 866 $ 254 $ (180) $ - $ 1,609 Total segment assets $ 24,794 $ 15,429 $ 8,047 $ 4,076 $ 8,879 $ 61,225 Expenditures for segmented assets $ 673 $ 81 $ - $ - $ - $ 754

Subsequent Events (Tables)

Subsequent Events (Tables)	3 Months Ended
	Mar. 31, 2018
Subsequent Events Tables
Schedule of dividends payable	Our Board of Directors declared the following dividend: Date declared May 2, 2018 Record date May 17, 2018 Date paid May 24, 2018 Dividend per share of common stock $0.05

Basis of Presentation, Nature33

Basis of Presentation, Nature of Business and Summary of Significant Accounting Policies (Details Narrative)	Mar. 31, 2018USD ($)N
PQH Wireless, Inc. [Member] | Cellular Retail [Member]
Number of stores	236
Percentage of equity method investment	100.00%
PQH Wireless, Inc. [Member] | Cellular Retail [Member] | PQH South LLC. [Member]
Number of stores	57
Percentage of equity method investment	70.00%
PQH Wireless, Inc. [Member] | Cellular Retail [Member] | PQH Other Subsidiary [Member]
Number of stores	179
Percentage of equity method investment	100.00%
JPPA [Member] | Direct to Consumer [Member]
Percentage of equity method investment	100.00%
JPRE [Member] | Direct to Consumer [Member]
Percentage of equity method investment	100.00%
Wyoming Financial Lenders, Inc. [Member] | Consumer Finance [Member]
Number of stores	40
Percentage of equity method investment	100.00%
Number of states in which entity operates	7
Wyoming Financial Lenders, Inc. [Member] | Consumer Finance [Member] | Minimum [Member] | Payday [Member]
Non-recourse debt | $	$ 100
Wyoming Financial Lenders, Inc. [Member] | Consumer Finance [Member] | Minimum [Member] | Installment [Member]
Non-recourse debt | $	300
Wyoming Financial Lenders, Inc. [Member] | Consumer Finance [Member] | Maximum [Member] | Payday [Member]
Non-recourse debt | $	500
Wyoming Financial Lenders, Inc. [Member] | Consumer Finance [Member] | Maximum [Member] | Installment [Member]
Non-recourse debt | $	$ 800
Express Pawn, Inc. [Member] | Consumer Finance [Member]
Number of stores	3
Percentage of equity method investment	100.00%

Risks Inherent in the Operati34

Risks Inherent in the Operating Environment (Details Narrative)	3 Months Ended
	Mar. 31, 2018
Risks and Uncertainties [Abstract]
Description of attrition rate	The CFPB’s studies projected a reduction in the number of lenders by 50%, while industry studies forecast a much higher attrition rate.

Cash Equivalents and Investme35

Cash Equivalents and Investments (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Cash and cash equivalents
Operating accounts	$ 8,778,235	$ 10,524,923
Certificates of deposit		750,000
Money Market Mutual Funds - U.S. Treasury obligations	347,048	10,020,896
Subtotal	9,125,283	21,295,819	$ 11,208,398	$ 14,159,975
Held to Maturity Investments
Certificates of deposit	14,297,734	13,250,000
T-Bill Zero CPN	32,089,123	22,042,902
Subtotal	46,386,857	35,292,902
TOTAL	$ 55,512,140	$ 56,588,721

Cash Equivalents and Investme36

Cash Equivalents and Investments (Details 1)	3 Months Ended
	Mar. 31, 2018USD ($)
Held to Maturity Investments
Certificates of deposit (Cost)	$ 14,250,000
Certificates of deposit (Accrued Interest)	47,734
Certificates of deposit (Amortized Cost)	14,297,734
Certificates of deposit (Unrealized Gain (Loss))	(87,544)
Certificates of deposit (Estimated Fair Value)	14,210,190
T-Bill Zero CPN (Cost)	31,961,012
T-Bill Zero CPN (Amortized Discount)	128,111
T-Bill Zero CPN (Amortized cost)	32,089,123
T-Bill Zero CPN (Unrealized Gain (Loss))	(1,897)
T-Bill Zero CPN (Estimated Fair Value)	$ 32,087,226

Loans Receivable (Details)

Loans Receivable (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	$ 4,060,498	$ 5,143,003
Less Allowance	(698,000)	(833,000)
Notes, Loans and Financing Receivable, Net, current	3,362,498	4,310,003
Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	3,514,907	4,439,983
Less Allowance	(627,000)	(745,000)
Notes, Loans and Financing Receivable, Net, current	2,887,907	3,694,983
Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	281,941	384,659
Less Allowance	(71,000)	(88,000)
Notes, Loans and Financing Receivable, Net, current	210,941	296,659
Pawn Title [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	263,650	318,361
Less Allowance
Notes, Loans and Financing Receivable, Net, current	263,650	318,361
Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	3,227,886	4,140,364
Current [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	2,773,711	3,550,077
Current [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	190,525	271,926
Current [Member] | Pawn Title [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	263,650	318,361
1 To 30 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	204,669	263,732
1 To 30 Days [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	166,548	216,376
1 To 30 Days [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	38,121	47,356
1 To 30 Days [Member] | Pawn Title [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current
31 to 60 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	132,125	215,682
31 to 60 Days [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	108,590	187,916
31 to 60 Days [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	23,535	27,766
31 to 60 Days [Member] | Pawn Title [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current
61 To 90 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	161,124	168,254
61 To 90 Days [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	145,640	150,278
61 To 90 Days [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	15,484	17,976
61 To 90 Days [Member] | Pawn Title [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current
91 To 120 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	106,465	122,813
91 To 120 Days [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	97,171	110,943
91 To 120 Days [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	9,294	11,870
91 To 120 Days [Member] | Pawn Title [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current
121 To 150 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	116,202	135,919
121 To 150 Days [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	112,903	131,171
121 To 150 Days [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	3,299	4,748
121 To 150 Days [Member] | Pawn Title [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current
151 To 180 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	112,027	96,239
151 To 180 Days [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	110,344	93,222
151 To 180 Days [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	1,683	3,017
151 To 180 Days [Member] | Pawn Title [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, 2018	Dec. 31, 2017
Allowance for Loan and Lease Losses [Roll Forward]
Loans receivable allowance, beginning of period	$ 833,000	$ 1,036,000
Provision for loan losses charged to expense	200,202	1,122,144
Charge-offs, net	(335,202)	(1,325,144)
Loans receivable allowance, end of period	$ 698,000	$ 833,000

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Accounts receivable	$ 2,248,743	$ 780,071
Less allowance	(57,000)	(16,000)
Net account receivable	2,191,743	764,071
Cellular Retail [Member]
Accounts receivable	315,549	399,459
Less allowance
Net account receivable	315,549	399,459
Direct to Consumer [Member]
Accounts receivable	1,920,585	365,476
Less allowance	(57,000)	(16,000)
Net account receivable	1,863,585	349,476
Consumer Finance [Member]
Accounts receivable	12,609	15,136
Less allowance
Net account receivable	$ 12,609	$ 15,136

Inventory (Details)

Inventory (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Finished Goods
TOTAL	$ 10,010,703	$ 9,130,842
Cellular Retail [Member]
Finished Goods
TOTAL	5,742,969	5,287,932
Direct to Consumer [Member]
Finished Goods
TOTAL	3,457,377	2,988,052
Consumer Finance [Member]
Finished Goods
TOTAL	$ 810,357	$ 854,858

Notes Payable - Long Term (Deta

Notes Payable - Long Term (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total	$ 789,216	$ 789,216
Less current maturities
Notes payable, noncurrent	789,216	789,216
Note Payable to Seller [Member]
Debt Instrument [Line Items]
Total	$ 789,216	$ 789,216

Notes Payable - Long Term (De42

Notes Payable - Long Term (Details Narrative) - USD ($)	Apr. 22, 2016	Mar. 31, 2018
Debt Instrument [Line Items]
Remaining maximum borrowing capacity		$ 12,000,000
Note Payable to Seller [Member]
Debt Instrument [Line Items]
Maturity date		Aug. 5, 2022
Stated interest rate		6.00%
Credit Facilities Overview [Member]
Debt Instrument [Line Items]
Maturity date	Apr. 21, 2018
Description of variable rate	one-month LIBOR plus 3.50%
Equity debt	$ 3,000,000
Credit Facilities Overview [Member] | Acquisition Loan Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 9,000,000
Description of maturity date	Mature five years from the date of advance.

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Taxes Details Narrative
Provision for income taxes for continuing operations (in percent)	121.30%	37.10%

Cash Dividends (Details)

Cash Dividends (Details) - Dividends [Member]	3 Months Ended
	Mar. 31, 2018$ / shares
Date Declared	Jan. 18, 2018
Record Date	Feb. 9, 2018
Payment Date	Feb. 14, 2018
Dividend Per Share	$ 0.05

Other Operating Expense (Detail

Other Operating Expense (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other Income and Expenses [Abstract]
Bank fees	$ 502,564	$ 532,175
Collection costs	84,605	89,894
Insurance	205,295	240,740
Management and advisory fees	193,710	153,481
Professional and consulting fees	543,096	662,089
Supplies	217,436	324,136
Other	948,534	739,272
Total other operating expenses	$ 2,695,240	$ 2,741,787

Discontinued Operations (Detail

Discontinued Operations (Details)	3 Months Ended
	Mar. 31, 2017USD ($)
OTHER INCOME (EXPENSE) OF DISCONTINUED OPERATIONS
INCOME BEFORE INCOME TAXES OF DISCONTINUED OPERATIONS	$ 1,070,321
PROVISION FOR INCOME TAXES OF DISCONTINUED OPERATIONS	412,000
NET INCOME OF DISCONTINUED OPERATIONS	658,321
Less net income of discontinued operations attributable to noncontrolling interests	(5,085)
Franchise Segment Discontinued Operations [Member]
REVENUES OF DISCONTINUED OPERATIONS	3,943,309
COST OF REVENUES OF DISCONTINUED OPERATIONS	648,197
GROSS PROFIT OF DISCONTINUED OPERATIONS	3,295,112
OPERATING EXPENSES OF DISCONTINUED OPERATIONS:
Salaries, wages and benefits	1,098,739
Occupancy	42,764
Advertising, marketing and development	102,597
Depreciation	24,092
Amortization	86,118
Other	789,700
TOTAL OPERATING EXPENSES OF DISCONTINUED OPERATIONS	2,144,010
OPERATING INCOME OF DISCONTINUED OPERATIONS	1,151,102
OTHER INCOME (EXPENSE) OF DISCONTINUED OPERATIONS
Interest expense	(80,781)
INCOME BEFORE INCOME TAXES OF DISCONTINUED OPERATIONS	1,070,321
PROVISION FOR INCOME TAXES OF DISCONTINUED OPERATIONS	412,000
NET INCOME OF DISCONTINUED OPERATIONS	658,321
Less net income of discontinued operations attributable to noncontrolling interests	(5,085)
NET INCOME OF DISCONTINUED OPERATIONS ATTRIBUTABLE TO WESTERN COMMON SHAREHOLDERS	$ 653,236

Discontinued Operations (Deta47

Discontinued Operations (Details 2) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Adjustments to reconcile net income of discontinued operations to net cash provided by operating activities of discontinued operations:
Depreciation	$ 558,989	$ 326,196
Amortization	214,808	54,401
Share based compensation		8,899
Deferred income taxes	(77,000)	66,000
Changes in operating assets and liabilities:
Accounts receivable	(1,427,672)	(1,085,312)
Prepaid expenses and other assets	157,752	(831,683)
Accounts payable and accrued expenses	93,186	298,300
Deferred revenue and other current liabilities	(65,215)	(15,825)
Net cash provided by operating activities of discontinued operations		354,253
FINANCING ACTIVITIES OF DISCONTINUED OPERATIONS
Dividends to shareholders	(469,550)	(234,775)
Net cash used in financing activities of discontinued operations		(3,178,348)
Franchise Segment Discontinued Operations [Member]
DISCONTINUED OPERATING ACTIVITIES
Net income of discontinued operations		658,321
Adjustments to reconcile net income of discontinued operations to net cash provided by operating activities of discontinued operations:
Depreciation		24,092
Amortization		86,118
Share based compensation		2,243
Deferred income taxes		(29,000)
Changes in operating assets and liabilities:
Accounts receivable		(606,126)
Prepaid expenses and other assets		114,753
Accounts payable and accrued expenses		(597,356)
Deferred revenue and other current liabilities		682,016
Other liabilities - long-term		19,192
Net cash provided by operating activities of discontinued operations		354,253
FINANCING ACTIVITIES OF DISCONTINUED OPERATIONS
Principal payments on capital lease obligations		(7,620)
Dividends to shareholders		(3,170,728)
Net cash used in financing activities of discontinued operations		$ (3,178,348)

Segment Information (Details)

Segment Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Segment Reporting Information [Line Items]
Revenues from external customers	$ 30,458,759	$ 31,691,697
Net income (loss)	14,074	1,609,003
Total segment assets	103,705,355	61,225,000	$ 104,244,156
Expenditures for segmented assets	427,000	754,000
Cellular Retail [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	17,107,000	17,045,000
Net income (loss)	(375,000)	669,000
Total segment assets	27,567,000	24,794,000
Expenditures for segmented assets	117,000	673,000
Direct to Consumer [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	10,681,000	11,904,000
Net income (loss)	329,000	866,000
Total segment assets	15,057,000	15,429,000
Expenditures for segmented assets	310,000	81,000
Consumer Finance [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	2,671,000	2,743,000
Net income (loss)	331,000	254,000
Total segment assets	7,003,000	8,047,000
Expenditures for segmented assets
Corporate [Member]
Segment Reporting Information [Line Items]
Revenues from external customers
Net income (loss)	(271,000)	(180,000)
Total segment assets	54,078,000	4,076,000
Expenditures for segmented assets
Discontinued Operations [Member]
Segment Reporting Information [Line Items]
Revenues from external customers
Net income (loss)
Total segment assets		8,879,000
Expenditures for segmented assets

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative)	3 Months Ended
	Mar. 31, 2018USD ($)N	Mar. 31, 2017USD ($)
Cellular Retail [Member]
Number of locations transferred | N	37
Minimum lease payments for transfrred location	$ 3,000,000
Other Employment Agreement [Member]
Bonus arrangement current	$ 73,000	$ 256,000

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member]	May 02, 2018$ / shares
Subsequent Event [Line Items]
Date declared	May 2, 2018
Record Date	May 17, 2018
Payment Date	May 24, 2018
Dividend Per Share	$ 0.05