Western Capital Resources (WCRS) 10-Q 14 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 14, 2019
Document And Entity Information
Entity Registrant Name	WESTERN CAPITAL RESOURCES, INC.
Entity Central Index Key	0001363958
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Reporting Status Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity File Number	000-52015
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,388,677
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2019

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
CURRENT ASSETS
Cash and cash equivalents	$ 16,354,206	$ 16,724,983
Short-term investments	24,534,675	22,394,748
Loans receivable (net of allowance for losses of $549,000 and $818,000, respectively)	3,487,046	4,111,842
Accounts receivable (net of allowance for losses of $32,000 and $25,000, respectively)	579,188	493,208
Inventories (net of allowance of $669,000 and $670,000, respectively)	7,070,743	8,467,512
Prepaid income taxes	185,162	512,099
Prepaid expenses and other	2,799,152	2,954,794
Escrow and other receivables	3,350,292	3,312,984
TOTAL CURRENT ASSETS	58,360,464	58,972,170
INVESTMENTS		1,000,000
PROPERTY AND EQUIPMENT, net	9,498,042	9,945,826
OPERATING LEASE RIGHT-OF-USE ASSETS	10,527,705
GOODWILL	5,796,528	5,796,528
INTANGIBLE ASSETS, net	3,710,467	4,167,110
LOAN RECEIVABLE	547,513
OTHER	564,062	558,209
TOTAL ASSETS	89,004,781	80,439,843
CURRENT LIABILITIES
Accounts payable and accrued expenses	8,693,897	11,816,050
Current portion operating lease liabilities	4,881,266
Other current liabilities	1,168,471	1,291,713
Current portion notes payable	63,616
Current portion finance lease obligations	26,523	51,211
Deferred revenue	551,711	1,012,772
TOTAL CURRENT LIABILITIES	15,385,484	14,171,746
LONG-TERM LIABILITIES
Notes payable, net of current portion	1,052,983	789,216
Operating lease liabilities, net of current portion	5,832,614
Deferred income taxes	1,029,000	795,000
TOTAL LONG-TERM LIABILITIES	7,914,597	1,584,216
TOTAL LIABILITIES	23,300,081	15,755,962
COMMITMENTS AND CONTINGENCIES (Note 16)
WESTERN SHAREHOLDERS' EQUITY
Common stock, $0.0001 par value, 12,500,000 shares authorized, 9,388,677 shares issued and outstanding	939	939
Additional paid-in capital	29,031,741	29,031,741
Retained earnings	35,017,038	33,774,293
TOTAL WESTERN SHAREHOLDERS' EQUITY	64,049,718	62,806,973
NONCONTROLLING INTERESTS	1,654,982	1,876,908
TOTAL EQUITY	65,704,700	64,683,881
TOTAL LIABILITIES AND EQUITY	$ 89,004,781	$ 80,439,843

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Loans receivable, allowance for losses	$ 549,000	$ 818,000
Accounts receivable, allowance for losses	32,000	25,000
Inventory, allowance for losses	$ 669,000	$ 670,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized	12,500,000	12,500,000
Common stock, issued	9,388,677	9,388,677
Common stock, outstanding	9,388,677	9,388,677

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
REVENUES
Total Revenues	$ 30,156,105	$ 29,780,357	$ 60,114,325	$ 60,239,116
COST OF REVENUES
Cost of sales	12,939,802	12,395,630	25,564,939	24,561,663
Provisions for loans receivable losses	175,831	241,183	394,108	441,385
Total Cost of Revenues	13,115,633	12,636,813	25,959,047	25,003,048
GROSS PROFIT	17,040,472	17,143,544	34,155,278	35,236,068
OPERATING EXPENSES
Salaries, wages and benefits	8,185,203	8,415,533	16,392,434	17,733,326
Occupancy	2,647,662	3,084,870	5,411,945	6,507,088
Advertising, marketing and development	2,023,838	2,438,708	3,799,680	4,468,023
Depreciation	438,198	463,103	867,698	1,022,092
Amortization	178,379	214,313	362,915	429,121
Other	2,021,278	2,580,645	4,285,870	5,275,885
Total Operating Expenses	15,494,558	17,197,172	31,120,542	35,435,535
OPERATING INCOME (LOSS)	1,545,914	(53,628)	3,034,736	(199,467)
OTHER INCOME (EXPENSES):
Dividend and interest income	193,976	144,175	375,519	311,686
Interest expense	(29,159)	(50,138)	(55,414)	(137,736)
Total Other Income (Expenses)	164,817	94,037	320,105	173,950
INCOME (LOSS) BEFORE INCOME TAXES	1,710,731	40,409	3,354,841	(25,517)
PROVISION FOR INCOME TAX EXPENSE (BENEFIT)	332,000	(61,000)	676,000	(141,000)
NET INCOME	1,378,731	101,409	2,678,841	115,483
LESS NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST	(247,531)	(187,958)	(497,228)	(373,049)
NET INCOME (LOSS) ATTRIBUTABLE TO WESTERN COMMON SHAREHOLDERS	$ 1,131,200	$ (86,549)	$ 2,181,613	$ (257,566)
EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO WESTERN COMMON SHAREHOLDERS
Basic and diluted (in dollars per share)	$ 0.12	$ (0.01)	$ 0.23	$ (0.03)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic and diluted (in shares)	9,388,677	9,390,997	9,388,677	9,390,997
Sales and Associated Fees [Member]
REVENUES
Total Revenues	$ 24,178,741	$ 23,681,740	$ 47,999,579	$ 47,498,934
Financing Fees and Interest [Member]
REVENUES
Total Revenues	1,985,774	2,072,114	4,100,645	4,246,660
Other revenues [Member]
REVENUES
Total Revenues	$ 3,991,590	$ 4,026,503	$ 8,014,101	$ 8,493,522

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Noncontrolling Interests [Member]	Total
Balance at beginning at Dec. 31, 2017	$ 939	$ 29,031,741	$ 37,903,204	$ 1,757,686	$ 68,693,570
Balance at beginning (shares) at Dec. 31, 2017	9,390,997
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)			(171,017)	185,091	14,074
Dividends			(469,550)		(469,550)
Balance at end at Mar. 31, 2018	$ 939	29,031,741	37,262,637	1,942,777	68,238,094
Balance at end (shares) at Mar. 31, 2018	9,390,997
Balance at beginning at Dec. 31, 2017	$ 939	29,031,741	37,903,204	1,757,686	68,693,570
Balance at beginning (shares) at Dec. 31, 2017	9,390,997
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)					115,483
Noncontrolling interest contribution to equity
Balance at end at Jun. 30, 2018	$ 939	29,031,741	36,706,538	1,791,135	67,530,353
Balance at end (shares) at Jun. 30, 2018	9,390,977
Balance at beginning at Mar. 31, 2018	$ 939	29,031,741	37,262,637	1,942,777	68,238,094
Balance at beginning (shares) at Mar. 31, 2018	9,390,997
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)			(86,549)	187,958	101,409
Dividends			(469,550)	(339,600)	(809,150)
Balance at end at Jun. 30, 2018	$ 939	29,031,741	36,706,538	1,791,135	67,530,353
Balance at end (shares) at Jun. 30, 2018	9,390,977
Balance at beginning at Dec. 31, 2018	$ 939	29,031,741	33,774,293	1,876,908	64,683,881
Balance at beginning (shares) at Dec. 31, 2018	9,388,677
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)			1,050,413	249,697	1,300,110
Noncontrolling interest contribution to equity				17,446	17,446
Dividends			(469,434)	(266,600)	(736,034)
Balance at end at Mar. 31, 2019	$ 939	29,031,741	34,355,272	1,877,451	65,265,403
Balance at end (shares) at Mar. 31, 2019	9,388,677
Balance at beginning at Dec. 31, 2018	$ 939	29,031,741	33,774,293	1,876,908	64,683,881
Balance at beginning (shares) at Dec. 31, 2018	9,388,677
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)					2,678,841
Noncontrolling interest contribution to equity					17,446
Balance at end at Jun. 30, 2019	$ 939	29,031,741	35,017,038	1,654,982	65,704,700
Balance at end (shares) at Jun. 30, 2019	9,388,677
Balance at beginning at Mar. 31, 2019	$ 939	29,031,741	34,355,272	1,877,451	65,265,403
Balance at beginning (shares) at Mar. 31, 2019	9,388,677
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)			1,131,200	247,531	1,378,731
Dividends			(469,434)	(470,000)	(939,434)
Balance at end at Jun. 30, 2019	$ 939	$ 29,031,741	$ 35,017,038	$ 1,654,982	$ 65,704,700
Balance at end (shares) at Jun. 30, 2019	9,388,677

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
OPERATING ACTIVITIES
Net income	$ 2,678,841	$ 115,483
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	867,698	1,022,092
Amortization	362,915	429,121
Amortization of operating lease right-of-use assets	2,779,807
Deferred income taxes	234,000	(126,000)
Loss (gain) on disposals	(147,977)	421,472
Income from investments	(164,295)	(12,705)
Changes in operating assets and liabilities:
Loans receivable	624,796	426,174
Accounts receivable	(62,492)	97,907
Inventory	1,228,814	883,187
Prepaid expenses and other assets	93,954	416,823
Operating lease liabilities	(3,110,370)
Accounts payable and accrued expenses	(3,202,289)	(22,045,319)
Deferred revenue and other current liabilities	(584,303)	(673,055)
Net cash and cash equivalents provided by (used in) operating activities	1,599,099	(19,044,820)
INVESTING ACTIVITIES
Purchases of investments	(18,942,632)	(26,564,181)
Proceeds from held-to-maturity investments	17,967,000	36,461,012
Purchases of property and equipment	(210,995)	(549,186)
Acquisition of stores, net of cash acquired	(164,400)	(76,707)
Proceeds from installment sale receivable		185,963
Proceeds from the disposal of operating assets	1,120,000	10,000
Net cash and cash equivalents provided by (used in) investing activities	(231,027)	9,466,901
FINANCING ACTIVITIES
Payments on notes payable - short-term, net		(51,992)
Payments on notes payable - long-term	(38,693)
Payments on finance leases	(24,688)	(23,263)
Payments of dividends to noncontrolling interests	(736,600)	(339,600)
Payments of dividends	(938,868)	(939,100)
Net cash and cash equivalents used in financing activities	(1,738,849)	(1,353,955)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(370,777)	(10,931,874)
CASH AND CASH EQUIVALENTS
Beginning of period	16,724,983	21,295,819
End of period	16,354,206	10,363,945
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Income taxes paid	119,563	19,145,172
Interest paid	44,865	75,052
Noncash investing and financing activities:
Assets received in acquisition (See Note 13)	1,694,546
Liabilities assumed in acquisition (See Note 13)	1,325,024
Note payable assumed in acquisition (See Note 13)	347,918
Noncontrolling interest contribution to subsidiary (See Note 13)	17,446
Right-of-use assets obtained in exchange for operating lease obligation	$ 963,486

Basis of Presentation, Nature o

Basis of Presentation, Nature of Business and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
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 note 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 and six month periods ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019. For further information, refer to the Consolidated Financial Statements and notes thereto included in our Form 10-K for the year ended December 31, 2018. The condensed consolidated balance sheet at December 31, 2018, has been derived from the audited consolidated financial statements at that date, but does not include all of the information and notes 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 ○ PQH Wireless, Inc. (PQH) (100%) – operates 201 cellular retail stores as of June 30, 2019 (116 are 100% owned and 85 are owned through majority owned subsidiaries), as an exclusive dealer of the Cricket brand. ● Direct to Consumer ○ 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. ○ 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 ○ Wyoming Financial Lenders, Inc. (WFL) (100%) – owns and operates 38 “payday” stores in six states (Iowa, Kansas, Nebraska, North Dakota, Wisconsin and Wyoming) as of June 30, 2019 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. ○ Express Pawn, Inc. (EPI) (100%) – owns and operates retail pawn stores (three as of June 30, 2019) 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 as” “PQH,” “JPPA,” “JPRE,” “WFL” or “EPI” are references only to those companies. Basis of Consolidation The consolidated financial statements include the accounts of 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. 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 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 merchandise credits liability and deferred taxes and tax uncertainties. Recent Accounting Pronouncements 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. Under the new guidance, lessees are required to recognize the following for all leases: (1) a lease liability, which is the present value of a lessee’s obligation to make lease payments, and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. All entities must classify leases to determine how to recognize lease-related revenue and expense. Quantitative and qualitative disclosures are required by lessees and lessors to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The intention is to require enough information to supplement the amounts recorded in the financial statements so that users can understand more about the nature of an entity’s leasing activities. All entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. The Company adopted ASU 2016-02 and ASC 842 using the modified retrospective method on January 1, 2019. See Note 8 for further disclosures. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), related to the measurement of credit losses on financial instruments. The standard requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The ASU is effective for annual reporting periods beginning after December 15, 2019 and interim periods within that annual period, with early adoption permitted and the standard to be applied using a modified retrospective approach. The Company does not believe adoption of ASU 2016-13 will have a material impact on our financial condition, results of operations and consolidated financial statements. In July 2018, the FASB issued ASU 2018-11, Leases - Targeted Improvements (Topic 842) to provide entities with relief from the costs of implementing certain aspects of the new leasing standard, ASU 2016-02. Specifically, under the amendments in ASU 2018-11: (1) entities may elect not to recast the comparative periods presented when transitioning to the new leasing standard, and (2) lessors may elect to not separate non-lease components from leases when certain conditions are met. The amendments have the same effective date as ASU 2016-02 (January 1, 2019 for the Company). The Company adopted certain options available under ASU 2018-11on January 1, 2019. See Note 8 for further disclosures. 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	6 Months Ended
	Jun. 30, 2019
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) adopted a new rule for payday lending. The rule, originally 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 if the rule is implemented as originally adopted. However, in January 2018, the CFPB issued a statement that it intends to “reconsider” the regulation. The most current information from the CFPB website states the proposals it is considering includes rescinding the mandatory underwriting provisions contained in the rule and to delay the August 19, 2019 compliance date for the other provisions to November 19, 2020. 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 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, or a 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, 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. Concentrations The Company has demand deposits at financial institutions, often times in excess of the limit for insurance by the Federal Deposit Insurance Corporation. As of June 30, 2019, the Company had demand deposits in excess of insurance amounts of approximately $6.55 million.

Cash Equivalents and Marketable

Cash Equivalents and Marketable Investments	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Cash Equivalents and Marketable Investments	3. Cash Equivalents and Marketable 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: June 30, 2019 December 31, 2018 Cash and cash equivalents Operating accounts $ 10,631,886 $ 10,901,929 U.S. treasuries 4,054,023 3,014,478 Money markets 1,668,297 2,808,576 Subtotal 16,354,206 16,724,983 Held-to-maturity investments Certificates of deposit 11,237,069 12,711,069 U.S. treasuries 13,237,606 10,683,679 Subtotal 24,534,675 23,394,748 TOTAL $ 40,888,881 $ 40,119,731 As of June 30, 2019 and December 31, 2018, held to maturity investments consisted of the following: June 30, 2019 Cost Accrued Amortized Discount Amortized Unrealized Estimated Certificates of Deposit $ 11,172,289 $ 64,780 $ — $ 11,237,069 $ (55,497 ) $ 11,181,572 U.S. Treasuries 13,176,244 — 121,362 13,297,606 9,638 13,307,244 $ 24,348,533 $ 64,780 $ 121,362 $ 24,534,675 $ (45,859 ) $ 24,488,816 December 31, 2018 Cost Accrued Amortized Amortized Cost Unrealized Gain (Loss) Estimated Certificates of Deposit $ 12,670,000 $ 41,069 $ — $ 12,711,069 $ (68,087 ) $ 12,642,982 U.S. Treasuries 10,564,160 25,707 93,812 10,683,679 (30,229 ) 10,653,450 $ 23,234,160 $ 66,776 $ 93,812 $ 23,394,748 $ (98,316 ) $ 23,296,432 Interest income recognized on held-to-maturity investments and other sources was as follows: Three Months Ended Three Months Ended Six Months Ended Six Months Ended Held-to-maturity $ 158,551 $ 108,879 $ 300,697 $ 242,548 Other 35,425 35,296 74,822 69,138 $ 193,976 $ 144,175 $ 375,519 $ 311,686 The Company deposited in aggregate $1.75 million of cash across 7 different accounts at a financial institution as an accommodation to its majority stockholder, who has other business relationships with the financial institution. The funds in these accounts can be withdrawn at any time, do not serve as collateral in any way, and are held on market terms.

Loans Receivable

Loans Receivable	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Loans Receivable	4. Loans Receivable – The Consumer Finance segment’s outstanding loans receivable aging is as follows: June 30, 2019 Payday Installment Pawn Total Current $ 2,994,082 $ 65,536 $ 290,012 $ 3,349,630 1-30 197,241 15,787 — 213,028 31-60 127,547 5,262 — 132,809 61-90 85,345 2,378 — 87,723 91-120 71,706 1,555 — 73,261 121-150 67,232 960 — 68,192 151-180 110,710 693 — 111,403 3,653,863 92,171 290,012 4,036,046 Less Allowance (535,000 ) (14,000 ) — (549,000 ) $ 3,118,863 $ 78,171 $ 290,012 $ 3,487,046 December 31, 2018 Payday Installment Pawn Total Current $ 3,314,182 $ 254,255 $ 321,447 $ 3,889,884 1-30 224,091 41,596 — 265,687 31-60 199,259 30,285 — 229,544 61-90 153,449 15,189 — 168,638 91-120 131,480 9,001 — 140,481 121-150 125,074 4,311 — 129,385 151-180 101,619 4,604 — 106,223 4,249,154 359,241 321,447 4,929,842 Less Allowance (770,000 ) (48,000 ) — (818,000 ) $ 3,479,154 $ 311,241 $ 321,447 $ 4,111,842

Loans Receivable Allowance

Loans Receivable Allowance	6 Months Ended
	Jun. 30, 2019
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: Six Months Ended June 30, 2019 Year Ended December 31, 2018 Loans receivable allowance, beginning of period $ 818,000 $ 833,000 Provision for loan losses charged to expense 394,108 1,241,638 Write-offs, net (663,108 ) (1,256,638 ) Loans receivable allowance, end of period $ 549,000 $ 818,000

Accounts Receivable

Accounts Receivable	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Accounts Receivable	6. Accounts Receivable – A breakdown of accounts receivables by segment is as follows: June 30, 2019 Cellular Retail Direct to Consumer Consumer Finance Total Accounts receivable $ 331,337 $ 265,244 $ 14,607 $ 611,188 Less allowance — (32,000 ) — (32,000 ) Net accounts receivable $ 331,337 $ 233,244 $ 14,607 $ 579,188 December 31, 2018 Cellular Retail Direct to Consumer Consumer Finance Total Accounts receivable $ 130,251 $ 372,076 $ 15,881 $ 518,208 Less allowance — (25,000 ) — (25,000 ) Net accounts receivable $ 130,251 $ 347,076 $ 15,881 $ 493,208 A portion of accounts receivable are unsettled credit card sales from the prior one to five business days. This makes up 62% and 57% of the net accounts receivable balance at June 30, 2019 and December 31, 2018, respectively.

Inventory

Inventory	6 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Inventory	7. Inventory – Inventories consist of: June 30, 2019 December 31, 2018 Finished Goods Cellular Retail $ 4,871,993 $ 5,456,898 Direct to Consumer 2,006,260 2,848,484 Consumer Finance 861,490 832,130 Reserve (669,000 ) (670,000 ) TOTAL $ 7,070,743 $ 8,467,512 As a result of changes in the market for certain Company products and the resulting deteriorating value, carrying amounts for those inventories were reduced by approximately $669,000 and $670,000 at June 30, 2019 and December 31, 2018, respectively. These inventory write-downs have been reflected in cost of goods sold in the statement of operations. Management believes that these reductions properly reflect inventory at lower of cost or market, and no additional losses will be incurred upon disposition.

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	8. Leases – The Company adopted ASC 842 - Leases, using the modified retrospective method on January 1, 2019. The Company elected the package of practical expedients relief option offered in ASU 2016-02 and the accounting policy election for lessees not to separate lease and non-lease components (election applies to leased real property asset class). The most significant impact of the adoption of ASC 842 was the recognition of right-of-use (“ROU”) assets and lease liabilities for operating leases of $11.53 million and $11.76 million, respectively, and a reversal of deferred rent of $0.23 million on January 1, 2019. The Company’s accounting for finance leases, which are insignificant, remained unchanged. The adoption of ASC 842 did not have any impact on the Company’s operating results or cash flows. The Company has many retail and office space lease agreements and insignificant equipment lease agreements which are accounted for as operating leases. The real property leases typically are for three- to five-year terms with many containing options for similar renewal periods. The Company determines if an arrangement is or contains a lease at inception. Operating leases are included in operating lease right-of-use assets and operating lease liabilities (current and noncurrent) in the condensed consolidated balance sheet. Finance leases are included in property and equipment and finance lease obligations in the condensed consolidated balance sheet. ROU assets and lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. As most of the Company’s leases do not provide an implicit rate, Management used the Company’s collateralized incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The lease payment terms may include fixed payment terms and variable payments. Fixed payment terms and variable payments that depend on an index (i.e., Consumer Price Index, or “CPI”) or rate are considered in the determination of the operating lease liabilities. While lease liabilities are not remeasured because of changes to the CPI, changes are treated as variable lease payments and recognized in the period in which the obligation for those payments was incurred. Variable payments that do not depend on an index or rate are not included in the lease liabilities determination. Rather, these payments are recognized as variable lease expense when incurred. Expenses related to leases with a lease term of one month or less are recognized as variable lease expense when incurred. Variable lease payments are included within operating costs and expenses in the condensed consolidated statement of operations. Due to the significant assumptions and judgements required in accounting for leases (to include whether a contract contains a lease, the allocation of the consideration, and the determination of the discount rate), the judgements and estimates made could have a significant effect on the amount of assets and liabilities recognized. Total components of operating lease expense for the real property asset class (in thousands) were as follows: Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating lease expense $ 1,365 $ 2,769 Variable lease expense 684 1,375 Total lease expense $ 2,049 $ 4,144 Other information related to operating leases as of June 30, 2019 was as follows: Weighted average remaining lease term, in years 2.71 Weighted Average Discount Rate 5.9 % Future minimum lease payments under operating leases as of June 30, 2019 (in thousands) were as follows: Operating Leases Remainder of 2019 $ 2,989 2020 4,253 2021 2,535 2022 1,269 2023 527 Thereafter 142 Total future minimum lease payments 11,715 Less: imputed interest (1,001 ) Total $ 10,714 Current portion operating lease liabilities $ 4,881 Non-Current operating lease liabilities 5,833 Total $ 10,714 As previously disclosed in our 2018 Form 10-K under the prior guidance of ASC 840, future minimum payments under operating lease agreements as of December 31, 2018 (in thousands) were as follows: Year Ending December 31, Operating Leases 2019 $ 5,896 2020 3,878 2021 2,259 2022 917 2023 290 Thereafter 33 Total minimum lease payments $ 13,273

Notes Payable - Long Term

Notes Payable - Long Term	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Notes Payable - Long Term	9. Notes Payable – Long Term – June 30, 2019 December 31, 2018 Subsidiary subordinated note payable to seller with monthly interest only payments at 6%, guaranteed by PQH, maturing August 5, 2022 when the principal balance is due. $ 789,216 $ 789,216 Subsidiary note payable to a financial institution, with monthly principal and interest payments of $6,692, bearing interest at 5.5%, secured by substantially all assets of the subsidiary, and maturing January 4, 2024. 327,383 — Total 1,116,599 789,216 Less current maturities (63,616 ) — $ 1,052,983 $ 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, with a maturity date of April 21, 2020 and an acquisition loan facility in an aggregate amount of up to $9,000,000, with a maturity date of April 21, 2020. 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 June 30, 2019, the entire $12,000,000 of credit was available under the credit facilities. See Note 16 for additional terms and conditions related to the Credit Agreement.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes – The provision for income taxes is 20.1% and (552.6)% of income (loss) before the provision for income taxes for the six month period ended June 30, 2019 and 2018, respectively. The significant difference in rate is the result of the impact of 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	6 Months Ended
	Jun. 30, 2019
Dividends [Abstract]
Cash Dividends	11. Cash Dividends – Date Declared Record Date Dividend Per Share Payment Date Dividend Paid February 12, 2019 March 1, 2019 $0.05 March 11, 2019 $469,434 May 2, 2019 May 23, 2019 $0.05 June 3, 2019 $469,434

Revenue

Revenue	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue	12. Revenue – Revenue generated from contracts with customers and recognized per ASC 606 primarily consists of sales of merchandise and services at the point of sale and back-end compensation from Cricket Wireless. As an authorized dealer, we earn compensation from Cricket Wireless for activating a new customer on the Cricket Wireless network, activating new devices for existing Cricket Wireless customers and upon an existing Cricket Wireless customer whom we originally activated on the Cricket Wireless GSM network making a continuing service payment (“CSP”). Revenue generated from short-term lending agreements and investments are recognized in accordance with ASC 825. Total net sales of merchandise, which exclude sales taxes, are generally recorded as follows: ● Cellular Retail – net sales reflects the transaction price at point of sale when payment is received and the customer takes control of the merchandise. The sale and activation of a wireless device also correlates to the recording of back-end compensation from Cricket Wireless. Sales returns are generally not material to our financial statements. ● Direct to Consumer – net sales reflects the transaction price when product is shipped to customers, FOB shipping point, reduced by variable consideration. Shipping and handling fees when charged to customers are also included in total net sales. Variable consideration is comprised of estimated future returns and merchandise credits which are estimated based primarily on historical rates and sales levels. ● Consumer Finance - net sales reflects the transaction price at point of sale when payment in full is received and the customer takes control of the merchandise. Sales returns are generally not material to our financial statements. Services revenue is generally recorded at point of sale when payment is received and the customer receives the benefit of the service. Other compensation from Cricket Wireless is recorded at the time certain Cricket Wireless customers make a service payment, as reported to us by Cricket Wireless. Consumer Finance loan fees and interest on cash advance loans are recognized on a constant-yield basis ratably over a loan’s term. Installment loan fees and interest are recognized using the interest method, except that installment loan origination fees are recognized as they become non-refundable and installment loan maintenance fees are recognized when earned. The Company recognizes fees on pawn loans on a constant-yield basis ratably over the loans’ terms, less an estimated amount for expected forfeited pawn loans which is based primarily on historical forfeiture rates. See Note 15, “Segment Information,” for disaggregation of revenue by segment.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Acquisitions	13. Acquisitions – On February 21, 2019, PQH entered into a joint venture agreement with another Cricket Wireless dealer (“dealer”). Pursuant to the agreement, PQH contributed a note payable in exchange for a 51% ownership interest in a newly formed subsidiary and dealer contributed substantially all its assets, including 28 Cricket Wireless retail locations, and specified liabilities in exchange for a 49% ownership interest in the newly formed subsidiary and receipt of the note payable contributed by PQH. Effective March 1, 2019, we consummated the transaction. Under the purchase method of accounting, the assets acquired and liabilities assumed were recorded at their estimated fair values as of the purchase date as follows: March 1, 2019 (in thousands) Cash $ 14 Receivables 272 Inventory 50 Property and equipment 596 Operating lease right-of-use asset 772 Other assets 48 Liabilities (597 ) Term note payable (348 ) Operating lease liabilities (772 ) Net equity $ 35

Other Operating Expense

Other Operating Expense	6 Months Ended
	Jun. 30, 2019
Other Income and Expenses [Abstract]
Other Operating Expense	14. Other Operating Expense – A breakout of other expense is as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Bank fees $ 539,586 $ 533,813 $ 1,044,567 $ 1,036,377 Collection costs 82,637 81,587 160,352 166,192 Insurance 178,346 198,334 366,642 403,629 Management and advisory fees 211,002 196,799 413,148 390,509 Professional and consulting fees 236,183 361,915 789,805 905,011 Supplies 144,219 170,054 282,811 387,490 Loss on disposal 12,613 464,055 11,198 646,765 Other 616,692 574,088 1,217,347 1,339,912 $ 2,021,278 $ 2,580,645 $ 4,285,870 $ 5,275,885

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Segment Information	15. Segment Information – Segment information related to the three and six month periods ended June 30, 2019 and 2018 (in thousands) is as follows: Three Months Ended June 30, 2019 Cellular Direct to Consumer Corporate Total Revenue from external customers $ 16,283 $ 11,473 $ 414 $ — $ 28,170 Financing fees and interest — — 1,986 — 1,986 Total revenue $ 16,283 $ 11,473 $ 2,400 $ — $ 30,156 Net income $ 441 $ 693 $ 228 $ 17 $ 1,379 Expenditures for segmented assets $ 93 $ 33 $ — $ — $ 126 Three Months Ended June 30, 2018 Cellular Retail Direct to Consumer Consumer Finance Corporate Total Revenue from external customers $ 15,604 $ 11,709 $ 395 $ — $ 27,708 Financing fees and interest — — 2,072 — 2,072 Total revenues $ 15,604 $ 11,709 $ 2,467 $ — $ 29,780 Net income (loss) $ (481 ) $ 525 $ 220 $ (163 ) $ 101 Expenditures for segmented assets $ 109 $ 76 $ 14 $ — $ 199 Six Months Ended June 30, 2019 Cellular Retail Direct to Consumer Consumer Finance Corporate Total Revenue from external customers $ 32,784 $ 22,414 $ 815 $ — $ 56,013 Financing fees and interest — — 4,101 — 4,101 Total revenues $ 32,784 $ 22,414 $ 4,916 $ — $ 60,114 Net income (loss) $ 1,012 $ 1,343 $ 462 $ (138 ) $ 2,679 Total segment assets $ 34,063 $ 10,945 $ 8,844 $ 35,153 $ 89,005 Expenditures for segmented assets $ 322 $ 67 $ — $ — $ 389 Six Months Ended June 30, 2018 Cellular Retail Direct to Consumer Consumer Finance Corporate Total Revenue from external customers $ 32,711 $ 22,390 $ 891 $ — $ 55,992 Financing fees and interest — — 4,247 — 4,247 Total revenues $ 32,711 $ 22,390 $ 5,138 $ — $ 60,239 Net income (loss) $ (856 ) $ 854 $ 551 $ (434 ) $ 115 Total segment assets $ 26,397 $ 12,396 $ 7,297 $ 34,071 $ 80,161 Expenditures for segmented assets $ 226 $ 386 $ 14 $ — $ 626

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	16. Commitments and Contingencies – Employment Agreements Pursuant to the Company’s numerous employment agreements, bonuses of approximately $159,000 and $317,000 were accrued for the three and six month period ended June 30, 2019. 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, as amended, requires WCR to meet a minimum liquidity covenant. 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 June 30, 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 $2,375,000 as of June 30, 2019.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Events – Dividend Declared Our Board of Directors declared the following dividend: Date Declared Record Date Dividend Per Share Payment Date August 1, 2019 August 23, 2019 $0.05 September 3, 2019 We evaluated all events or transactions that occurred after June 30, 2019 up through the date we issued these financial statements. During this period we did not have any other material subsequent events that impacted our financial statements.

Basis of Presentation, Nature_2

Basis of Presentation, Nature of Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
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 note 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 and six month periods ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019. For further information, refer to the Consolidated Financial Statements and notes thereto included in our Form 10-K for the year ended December 31, 2018. The condensed consolidated balance sheet at December 31, 2018, has been derived from the audited consolidated financial statements at that date, but does not include all of the information and notes 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 ○ PQH Wireless, Inc. (PQH) (100%) – operates 201 cellular retail stores as of June 30, 2019 (116 are 100% owned and 85 are owned through majority owned subsidiaries), as an exclusive dealer of the Cricket brand. ● Direct to Consumer ○ 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. ○ 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 ○ Wyoming Financial Lenders, Inc. (WFL) (100%) – owns and operates 38 “payday” stores in six states (Iowa, Kansas, Nebraska, North Dakota, Wisconsin and Wyoming) as of June 30, 2019 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. ○ Express Pawn, Inc. (EPI) (100%) – owns and operates retail pawn stores (three as of June 30, 2019) 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 as” “PQH,” “JPPA,” “JPRE,” “WFL” or “EPI” are references only to those companies.
Basis of Consolidation	Basis of Consolidation The consolidated financial statements include the accounts of 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.
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 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 merchandise credits liability and deferred taxes and tax uncertainties.
Recent Accounting Pronouncements	Recent Accounting Pronouncements 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. Under the new guidance, lessees are required to recognize the following for all leases: (1) a lease liability, which is the present value of a lessee’s obligation to make lease payments, and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. All entities must classify leases to determine how to recognize lease-related revenue and expense. Quantitative and qualitative disclosures are required by lessees and lessors to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The intention is to require enough information to supplement the amounts recorded in the financial statements so that users can understand more about the nature of an entity’s leasing activities. All entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. The Company adopted ASU 2016-02 and ASC 842 using the modified retrospective method on January 1, 2019. See Note 8 for further disclosures. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), related to the measurement of credit losses on financial instruments. The standard requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The ASU is effective for annual reporting periods beginning after December 15, 2019 and interim periods within that annual period, with early adoption permitted and the standard to be applied using a modified retrospective approach. The Company does not believe adoption of ASU 2016-13 will have a material impact on our financial condition, results of operations and consolidated financial statements. In July 2018, the FASB issued ASU 2018-11, Leases - Targeted Improvements (Topic 842) to provide entities with relief from the costs of implementing certain aspects of the new leasing standard, ASU 2016-02. Specifically, under the amendments in ASU 2018-11: (1) entities may elect not to recast the comparative periods presented when transitioning to the new leasing standard, and (2) lessors may elect to not separate non-lease components from leases when certain conditions are met. The amendments have the same effective date as ASU 2016-02 (January 1, 2019 for the Company). The Company adopted certain options available under ASU 2018-11on January 1, 2019. See Note 8 for further disclosures. 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 Marketab_2

Cash Equivalents and Marketable Investments (Tables)	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [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: June 30, 2019 December 31, 2018 Cash and cash equivalents Operating accounts $ 10,631,886 $ 10,901,929 U.S. treasuries 4,054,023 3,014,478 Money markets 1,668,297 2,808,576 Subtotal 16,354,206 16,724,983 Held-to-maturity investments Certificates of deposit 11,237,069 12,711,069 U.S. treasuries 13,237,606 10,683,679 Subtotal 24,534,675 23,394,748 TOTAL $ 40,888,881 $ 40,119,731
Schedule of held to maturity investments	As of June 30, 2019 and December 31, 2018, held to maturity investments consisted of the following: June 30, 2019 Cost Accrued Amortized Discount Amortized Unrealized Estimated Certificates of Deposit $ 11,172,289 $ 64,780 $ — $ 11,237,069 $ (55,497 ) $ 11,181,572 U.S. Treasuries 13,176,244 — 121,362 13,297,606 9,638 13,307,244 $ 24,348,533 $ 64,780 $ 121,362 $ 24,534,675 $ (45,859 ) $ 24,488,816 December 31, 2018 Cost Accrued Amortized Amortized Cost Unrealized Gain (Loss) Estimated Certificates of Deposit $ 12,670,000 $ 41,069 $ — $ 12,711,069 $ (68,087 ) $ 12,642,982 U.S. Treasuries 10,564,160 25,707 93,812 10,683,679 (30,229 ) 10,653,450 $ 23,234,160 $ 66,776 $ 93,812 $ 23,394,748 $ (98,316 ) $ 23,296,432
Schedule of interest income recognized on held-to-maturity investments	Interest income recognized on held-to-maturity investments and other sources was as follows: Three Months Ended Three Months Ended Six Months Ended Six Months Ended Held-to-maturity $ 158,551 $ 108,879 $ 300,697 $ 242,548 Other 35,425 35,296 74,822 69,138 $ 193,976 $ 144,175 $ 375,519 $ 311,686

Loans Receivable (Tables)

Loans Receivable (Tables)	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Schedule of outstanding loans receivable aging	The Consumer Finance segment’s outstanding loans receivable aging is as follows: June 30, 2019 Payday Installment Pawn Total Current $ 2,994,082 $ 65,536 $ 290,012 $ 3,349,630 1-30 197,241 15,787 — 213,028 31-60 127,547 5,262 — 132,809 61-90 85,345 2,378 — 87,723 91-120 71,706 1,555 — 73,261 121-150 67,232 960 — 68,192 151-180 110,710 693 — 111,403 3,653,863 92,171 290,012 4,036,046 Less Allowance (535,000 ) (14,000 ) — (549,000 ) $ 3,118,863 $ 78,171 $ 290,012 $ 3,487,046 December 31, 2018 Payday Installment Pawn Total Current $ 3,314,182 $ 254,255 $ 321,447 $ 3,889,884 1-30 224,091 41,596 — 265,687 31-60 199,259 30,285 — 229,544 61-90 153,449 15,189 — 168,638 91-120 131,480 9,001 — 140,481 121-150 125,074 4,311 — 129,385 151-180 101,619 4,604 — 106,223 4,249,154 359,241 321,447 4,929,842 Less Allowance (770,000 ) (48,000 ) — (818,000 ) $ 3,479,154 $ 311,241 $ 321,447 $ 4,111,842

Loans Receivable Allowance (Tab

Loans Receivable Allowance (Tables)	6 Months Ended
	Jun. 30, 2019
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: Six Months Ended June 30, 2019 Year Ended December 31, 2018 Loans receivable allowance, beginning of period $ 818,000 $ 833,000 Provision for loan losses charged to expense 394,108 1,241,638 Write-offs, net (663,108 ) (1,256,638 ) Loans receivable allowance, end of period $ 549,000 $ 818,000

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Schedule of accounts receivable	6. Accounts Receivable – A breakdown of accounts receivables by segment is as follows: June 30, 2019 Cellular Retail Direct to Consumer Consumer Finance Total Accounts receivable $ 331,337 $ 265,244 $ 14,607 $ 611,188 Less allowance — (32,000 ) — (32,000 ) Net accounts receivable $ 331,337 $ 233,244 $ 14,607 $ 579,188 December 31, 2018 Cellular Retail Direct to Consumer Consumer Finance Total Accounts receivable $ 130,251 $ 372,076 $ 15,881 $ 518,208 Less allowance — (25,000 ) — (25,000 ) Net accounts receivable $ 130,251 $ 347,076 $ 15,881 $ 493,208

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Schedule of inventory	Inventories consist of: June 30, 2019 December 31, 2018 Finished Goods Cellular Retail $ 4,871,993 $ 5,456,898 Direct to Consumer 2,006,260 2,848,484 Consumer Finance 861,490 832,130 Reserve (669,000 ) (670,000 ) TOTAL $ 7,070,743 $ 8,467,512

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Schedule of components of lease expense	Total components of operating lease expense for the real property asset class (in thousands) were as follows: Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating lease expense $ 1,365 $ 2,769 Variable lease expense 684 1,375 Total lease expense $ 2,049 $ 4,144
Schedule of weighted average remaining lease terms and discount rates held	Other information related to operating leases as of June 30, 2019 was as follows: Weighted average remaining lease term, in years 2.71 Weighted Average Discount Rate 5.9 %
Schedule of future minimum lease payments under leases	Future minimum lease payments under operating leases as of June 30, 2019 (in thousands) were as follows: Operating Leases Remainder of 2019 $ 2,989 2020 4,253 2021 2,535 2022 1,269 2023 527 Thereafter 142 Total future minimum lease payments 11,715 Less: imputed interest (1,001 ) Total $ 10,714 Current portion operating lease liabilities $ 4,881 Non-Current operating lease liabilities 5,833 Total $ 10,714 As previously disclosed in our 2018 Form 10-K under the prior guidance of ASC 840, future minimum payments under operating lease agreements as of December 31, 2018 (in thousands) were as follows: Year Ending December 31, Operating Leases 2019 $ 5,896 2020 3,878 2021 2,259 2022 917 2023 290 Thereafter 33 Total minimum lease payments $ 13,273

Notes Payable - Long Term (Tabl

Notes Payable - Long Term (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of long-term debt instruments	June 30, 2019 December 31, 2018 Subsidiary subordinated note payable to seller with monthly interest only payments at 6%, guaranteed by PQH, maturing August 5, 2022 when the principal balance is due. $ 789,216 $ 789,216 Subsidiary note payable to a financial institution, with monthly principal and interest payments of $6,692, bearing interest at 5.5%, secured by substantially all assets of the subsidiary, and maturing January 4, 2024. 327,383 — Total 1,116,599 789,216 Less current maturities (63,616 ) — $ 1,052,983 $ 789,216

Cash Dividends (Tables)

Cash Dividends (Tables)	6 Months Ended
	Jun. 30, 2019
Dividends [Abstract]
Schedule of dividends payable	Date Declared Record Date Dividend Per Share Payment Date Dividend Paid February 12, 2019 March 1, 2019 $0.05 March 11, 2019 $469,434 May 2, 2019 May 23, 2019 $0.05 June 3, 2019 $469,434

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Schedule of assets acquired and liabilities assumed	Under the purchase method of accounting, the assets acquired and liabilities assumed were recorded at their estimated fair values as of the purchase date as follows: March 1, 2019 (in thousands) Cash $ 14 Receivables 272 Inventory 50 Property and equipment 596 Operating lease right-of-use asset 772 Other assets 48 Liabilities (597 ) Term note payable (348 ) Operating lease liabilities (772 ) Net equity $ 35

Other Operating Expense (Tables

Other Operating Expense (Tables)	6 Months Ended
	Jun. 30, 2019
Other Income and Expenses [Abstract]
Schedule of other expenses	A breakout of other expense is as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Bank fees $ 539,586 $ 533,813 $ 1,044,567 $ 1,036,377 Collection costs 82,637 81,587 160,352 166,192 Insurance 178,346 198,334 366,642 403,629 Management and advisory fees 211,002 196,799 413,148 390,509 Professional and consulting fees 236,183 361,915 789,805 905,011 Supplies 144,219 170,054 282,811 387,490 Loss on disposal 12,613 464,055 11,198 646,765 Other 616,692 574,088 1,217,347 1,339,912 $ 2,021,278 $ 2,580,645 $ 4,285,870 $ 5,275,885

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Schedule of segment information	Segment information related to the three and six month periods ended June 30, 2019 and 2018 (in thousands) is as follows: Three Months Ended June 30, 2019 Cellular Direct to Consumer Corporate Total Revenue from external customers $ 16,283 $ 11,473 $ 414 $ — $ 28,170 Financing fees and interest — — 1,986 — 1,986 Total revenue $ 16,283 $ 11,473 $ 2,400 $ — $ 30,156 Net income $ 441 $ 693 $ 228 $ 17 $ 1,379 Expenditures for segmented assets $ 93 $ 33 $ — $ — $ 126 Three Months Ended June 30, 2018 Cellular Retail Direct to Consumer Consumer Finance Corporate Total Revenue from external customers $ 15,604 $ 11,709 $ 395 $ — $ 27,708 Financing fees and interest — — 2,072 — 2,072 Total revenues $ 15,604 $ 11,709 $ 2,467 $ — $ 29,780 Net income (loss) $ (481 ) $ 525 $ 220 $ (163 ) $ 101 Expenditures for segmented assets $ 109 $ 76 $ 14 $ — $ 199 Six Months Ended June 30, 2019 Cellular Retail Direct to Consumer Consumer Finance Corporate Total Revenue from external customers $ 32,784 $ 22,414 $ 815 $ — $ 56,013 Financing fees and interest — — 4,101 — 4,101 Total revenues $ 32,784 $ 22,414 $ 4,916 $ — $ 60,114 Net income (loss) $ 1,012 $ 1,343 $ 462 $ (138 ) $ 2,679 Total segment assets $ 34,063 $ 10,945 $ 8,844 $ 35,153 $ 89,005 Expenditures for segmented assets $ 322 $ 67 $ — $ — $ 389 Six Months Ended June 30, 2018 Cellular Retail Direct to Consumer Consumer Finance Corporate Total Revenue from external customers $ 32,711 $ 22,390 $ 891 $ — $ 55,992 Financing fees and interest — — 4,247 — 4,247 Total revenues $ 32,711 $ 22,390 $ 5,138 $ — $ 60,239 Net income (loss) $ (856 ) $ 854 $ 551 $ (434 ) $ 115 Total segment assets $ 26,397 $ 12,396 $ 7,297 $ 34,071 $ 80,161 Expenditures for segmented assets $ 226 $ 386 $ 14 $ — $ 626

Subsequent Events (Tables)

Subsequent Events (Tables)	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Schedule of declared dividends payable	Our Board of Directors declared the following dividend: Date Declared Record Date Dividend Per Share Payment Date August 1, 2019 August 23, 2019 $0.05 September 3, 2019

Basis of Presentation, Nature_3

Basis of Presentation, Nature of Business and Summary of Significant Accounting Policies (Details Narrative)	6 Months Ended
	Jun. 30, 2019Number
PQH Wireless, Inc. [Member] | Cellular Retail [Member]
Number of stores	201
Subsidiary ownership percentage	100.00%
PQH Wireless, Inc. [Member] | Cellular Retail [Member] | PQH Subsidiaries [Member]
Number of stores	85
PQH Wireless, Inc. [Member] | Cellular Retail [Member] | PQH [Member]
Number of stores	116
Number of stores ownership percentage	100.00%
JPPA [Member] | Direct to Consumer [Member]
Subsidiary ownership percentage	100.00%
JPRE [Member] | Direct to Consumer [Member]
Subsidiary ownership percentage	100.00%
Wyoming Financial Lenders, Inc. [Member] | Consumer Finance [Member]
Number of stores	38
Subsidiary ownership percentage	100.00%
Number of states in which entity operates	6
Wyoming Financial Lenders, Inc. [Member] | Consumer Finance [Member] | Minimum [Member] | Payday [Member]
Payday loan range	100
Wyoming Financial Lenders, Inc. [Member] | Consumer Finance [Member] | Minimum [Member] | Installment [Member]
Payday loan range	300
Wyoming Financial Lenders, Inc. [Member] | Consumer Finance [Member] | Maximum [Member] | Payday [Member]
Installment loan range	500
Wyoming Financial Lenders, Inc. [Member] | Consumer Finance [Member] | Maximum [Member] | Installment [Member]
Installment loan range	800
Express Pawn, Inc. [Member] | Consumer Finance [Member]
Number of stores	3
Subsidiary ownership percentage	100.00%

Risks Inherent in the Operati_2

Risks Inherent in the Operating Environment (Details Narrative)	6 Months Ended
	Jun. 30, 2019USD ($)
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 if the rule is implemented as originally adopted.
WCRS Cash,Excess Over FDIC Insured Amount	$ 6,550,000

Cash Equivalents and Marketab_3

Cash Equivalents and Marketable Investments (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
Cash and cash equivalents
Cash and cash equivalents	$ 16,354,206	$ 16,724,983	$ 10,363,945	$ 21,295,819
Held-to-maturity investments
Held to maturity investments	24,534,675	23,394,748
TOTAL	40,888,881	40,119,731
Certificates of Deposit [Member]
Held-to-maturity investments
Held to maturity investments	11,237,069	12,711,069
Operating Accounts [Member]
Cash and cash equivalents
Cash and cash equivalents	10,631,886	10,901,929
U.S. Treasuries [Member]
Cash and cash equivalents
Cash and cash equivalents	4,054,023	3,014,478
Held-to-maturity investments
Held to maturity investments	13,297,606	10,683,679
Money market [Member]
Cash and cash equivalents
Cash and cash equivalents	$ 1,668,297	$ 2,808,576

Cash Equivalents and Marketab_4

Cash Equivalents and Marketable Investments (Details 1) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Marketable Securities [Line Items]
Cost	$ 24,348,533	$ 23,234,160
Accrued Interest	64,780	66,776
Amortized Discount	121,362	93,812
Amortized Cost	24,534,675	23,394,748
Unrealized Loss	(45,859)	(98,316)
Estimated Fair Value	24,488,816	23,296,432
Certificates of Deposit [Member]
Marketable Securities [Line Items]
Cost	11,172,289	12,670,000
Accrued Interest	64,780	41,069
Amortized Discount
Amortized Cost	11,237,069	12,711,069
Unrealized Loss	(55,497)	(68,087)
Estimated Fair Value	11,181,572	12,642,982
U.S. Treasuries [Member]
Marketable Securities [Line Items]
Cost	13,176,244	10,564,160
Accrued Interest		25,707
Amortized Discount	121,362	93,812
Amortized Cost	13,297,606	10,683,679
Unrealized Gain	9,638
Unrealized Loss		(30,229)
Estimated Fair Value	$ 13,307,244	$ 10,653,450

Cash Equivalents and Marketab_5

Cash Equivalents and Marketable Investments (Details 2) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Held-to-maturity	$ 158,551	$ 108,879	$ 300,697	$ 242,548
Other	35,425	35,296	74,822	69,138
Dividend and interest income	$ 193,976	$ 144,175	$ 375,519	$ 311,686

Loans Receivable (Details)

Loans Receivable (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	$ 4,036,046	$ 4,929,842
Less Allowance	(549,000)	(818,000)
Notes, Loans and Financing Receivable, Net, current	3,487,046	4,111,842
Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	3,653,863	4,249,154
Less Allowance	(535,000)	(770,000)
Notes, Loans and Financing Receivable, Net, current	3,118,863	3,479,154
Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	92,171	359,241
Less Allowance	(14,000)	(48,000)
Notes, Loans and Financing Receivable, Net, current	78,171	311,241
Pawn [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	290,012	321,447
Less Allowance
Notes, Loans and Financing Receivable, Net, current	290,012	321,447
Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	3,349,630	3,889,884
Current [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	2,994,082	3,314,182
Current [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	65,536	254,255
Current [Member] | Pawn [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	290,012	321,447
1 To 30 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	213,028	265,687
1 To 30 Days [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	197,241	224,091
1 To 30 Days [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	15,787	41,596
1 To 30 Days [Member] | Pawn [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	132,809	229,544
31 to 60 Days [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	127,547	199,259
31 to 60 Days [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	5,262	30,285
31 to 60 Days [Member] | Pawn [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	87,723	168,638
61 To 90 Days [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	85,345	153,449
61 To 90 Days [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	2,378	15,189
61 To 90 Days [Member] | Pawn [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	73,261	140,481
91 To 120 Days [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	71,706	131,480
91 To 120 Days [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	1,555	9,001
91 To 120 Days [Member] | Pawn [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	68,192	129,385
121 To 150 Days [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	67,232	125,074
121 To 150 Days [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	960	4,311
121 To 150 Days [Member] | Pawn [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	111,403	106,223
151 To 180 Days [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	110,710	101,619
151 To 180 Days [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	693	4,604
151 To 180 Days [Member] | Pawn [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 ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Allowance for Loan and Lease Losses [Roll Forward]
Loans receivable allowance, beginning of period	$ 818,000	$ 833,000
Provision for loan losses charged to expense	394,108	1,241,638
Write-offs, net	(663,108)	(1,256,638)
Loans receivable allowance, end of period	$ 549,000	$ 818,000

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Accounts receivable	$ 611,188	$ 518,208
Less allowance	(32,000)	(25,000)
Net accounts receivable	579,188	493,208
Cellular Retail [Member]
Accounts receivable	331,337	130,251
Less allowance
Net accounts receivable	331,337	130,251
Direct to Consumer [Member]
Accounts receivable	265,244	372,076
Less allowance	(32,000)	(25,000)
Net accounts receivable	233,244	347,076
Consumer Finance [Member]
Accounts receivable	14,607	15,881
Less allowance
Net accounts receivable	$ 14,607	$ 15,881

Accounts Receivable (Details Na

Accounts Receivable (Details Narratve)	Jun. 30, 2019	Dec. 31, 2018
Receivables [Abstract]
Net accounts receivable unsettled of credit card	62.00%	57.00%

Inventory (Details)

Inventory (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Finished Goods
TOTAL	$ 7,070,743	$ 8,467,512
Reserve	(669,000)	(670,000)
Cellular Retail [Member]
Finished Goods
TOTAL	4,871,993	5,456,898
Direct to Consumer [Member]
Finished Goods
TOTAL	2,006,260	2,848,484
Consumer Finance [Member]
Finished Goods
TOTAL	861,490	832,130
Reserve [Member]
Finished Goods
Reserve	$ (669,000)	$ (670,000)

Inventory (Details Narrative)

Inventory (Details Narrative) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Reduction in inventory	$ 669,000	$ 670,000

Leases (Details)

Leases (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Leases [Abstract]
Operating lease expense	$ 1,365	$ 2,769
Variable lease expense	684	1,375
Total lease expense	$ 2,049	$ 4,144

Leases (Details 1)

Leases (Details 1)	Jun. 30, 2019
Other Information:
Weighted average remaining lease term for operating leases	2 years 8 months 16 days
Weighted average discount rate	5.90%

Leases (Details 2)

Leases (Details 2) - USD ($)	Jun. 30, 2019	Jan. 02, 2019	Dec. 31, 2018
Operating Lease
Remainder of 2019	$ 2,989		$ 5,896
2020	4,253		3,878
2021	2,535		2,259
2022	1,269		917
2023	527		290
Thereafter	142		33
Total future minimum lease payments	11,715		$ 13,273
Less: imputed interest	(1,001)
Total	10,714	$ 11,760,000
Current portion operating lease liabilities	4,881,266
Non-Current operating lease liabilities	5,832,614
Total	$ 10,714	$ 11,760,000

Leases (Details Narrative)

Leases (Details Narrative) - USD ($)	Jan. 02, 2019	Jun. 30, 2019
Leases [Abstract]
ROU operating lease assets	$ 11,530,000	$ 10,527,705
ROU operating lease liability	11,760,000	$ 10,714
Deferred rent	$ 230,000

Notes Payable - Long Term (Deta

Notes Payable - Long Term (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total	$ 1,116,599	$ 789,216
Less current maturities	(63,616)
Notes payable, noncurrent	1,052,983	789,216
Note Payable to Seller [Member]
Debt Instrument [Line Items]
Total	789,216	789,216
Note Payable to Financial Institution [Member]
Debt Instrument [Line Items]
Total	$ 327,383

Notes Payable - Long Term (De_2

Notes Payable - Long Term (Details Narrative) - USD ($)	Apr. 22, 2016	Jun. 30, 2019
Note Payable To Seller [Member]
Debt Instrument [Line Items]
Maturity date		Aug. 5, 2022
Stated interest rate		6.00%
Note Payable to Financial Institution [Member]
Debt Instrument [Line Items]
Maturity date		Jan. 4, 2024
Monthly principal and interest payments		$ 6,692
Stated interest rate		5.50%
Credit Facilities Overview [Member]
Debt Instrument [Line Items]
Remaining maximum borrowing capacity		$ 12,000,000
Credit Facilities Overview [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maturity date	Apr. 21, 2020
Maximum borrowing capacity	$ 3,000,000
Description of variable rate	One-month LIBOR plus 3.50%
Credit Facilities Overview [Member] | Acquisition Loan Facility [Member]
Debt Instrument [Line Items]
Maturity date	Apr. 21, 2020
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)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Provision for income taxes for continuing operations rate	20.10%	(552.60%)

Cash Dividends (Details)

Cash Dividends (Details)	6 Months Ended
	Jun. 30, 2019USD ($)$ / shares
Date Declared	Aug. 1, 2019
Record Date	Aug. 23, 2019
Dividend Per Share	$ 0.05
Payment Date	Sep. 3, 2019
Dividends [Member]
Date Declared	Feb. 12, 2019
Record Date	Mar. 1, 2019
Dividend Per Share	$ 0.05
Payment Date	Mar. 11, 2019
Dividend Paid | $	$ 469,434
Dividends [Member]
Date Declared	May 2, 2019
Record Date	May 23, 2019
Dividend Per Share	$ 0.05
Payment Date	Jun. 3, 2019
Dividend Paid | $	$ 469,434

Acquisitions (Details)

Acquisitions (Details) - USD ($)	Jun. 30, 2019	Mar. 01, 2019	Jan. 02, 2019
Operating lease right-of-use asset	$ 10,527,705		$ 11,530,000
Joint Venture Agreement [Member] | PQH Wireless, Inc. [Member]
Cash		$ 14,000
Receivables		272,000
Inventory		50,000
Property and equipment		596,000
Operating lease right-of-use asset		772,000
Other assets		48,000
Liabilities		(597,000)
Term note payable		(348,000)
Operating lease liabilities		(772,000)
Net equity		$ 35,000

Acquisitions (Details Narrative

Acquisitions (Details Narrative) - Joint Venture Agreement [Member] - PQH Wireless, Inc. [Member]	Feb. 21, 2019Number
Number of stores	28
Percentage ownership of net assets acquired	51.00%
Percentage ownership of net liabilities acquired	49.00%

Other Operating Expense (Detail

Other Operating Expense (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Other Income and Expenses [Abstract]
Bank fees	$ 539,586	$ 533,813	$ 1,044,567	$ 1,036,377
Collection costs	82,637	81,587	160,352	166,192
Insurance	178,346	198,334	366,642	403,629
Management and advisory fees	211,002	196,799	413,148	390,509
Professional and consulting fees	236,183	361,915	789,805	905,011
Supplies	144,219	170,054	282,811	387,490
Loss on disposal	12,613	464,055	11,198	646,765
Other	616,692	574,088	1,217,347	1,339,912
Total other operating expenses	$ 2,021,278	$ 2,580,645	$ 4,285,870	$ 5,275,885

Segment Information (Details)

Segment Information (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Segment Reporting Information [Line Items]
Revenues from external customers	$ 28,170		$ 27,708		$ 56,013	$ 55,992
Financing fees and interest	1,986		2,072		4,101	4,247
Total revenue	30,156,105		29,780,357		60,114,325	60,239,116
Net income (loss)	1,378,731	$ 1,300,110	101,409	$ 14,074	2,678,841	115,483
Total segment assets	89,004,781		80,161		89,004,781	80,161	$ 80,439,843
Expenditures for segmented assets	126		199		389	626
Cellular Retail [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	16,283		15,604		32,784	32,711
Financing fees and interest
Total revenue	16,283		15,604		32,784	32,711
Net income (loss)	441		(481)		1,012	(856)
Total segment assets	34,063		26,397		34,063	26,397
Expenditures for segmented assets	93		109		322	226
Direct to Consumer [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	11,473		11,709		22,414	22,390
Financing fees and interest
Total revenue	11,473		11,709		22,414	22,390
Net income (loss)	693		525		1,343	854
Total segment assets	10,945		12,396		10,945	12,396
Expenditures for segmented assets	33		76		67	386
Consumer Finance [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	414		395		815	891
Financing fees and interest	1,986		2,072		4,101	4,247
Total revenue	2,400		2,467		4,916	5,138
Net income (loss)	228		220		462	551
Total segment assets	8,844		7,297		8,844	7,297
Expenditures for segmented assets			14			14
Corporate [Member]
Segment Reporting Information [Line Items]
Revenues from external customers
Financing fees and interest
Total revenue
Net income (loss)	17		(163)		(138)	(434)
Total segment assets	35,153		34,071		35,153	34,071
Expenditures for segmented assets

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative)	3 Months Ended	6 Months Ended
	Jun. 30, 2019USD ($)Number	Jun. 30, 2019USD ($)Number
Cellular Retail [Member]
Number of stores | Number	37	37
Non-cancelable operating leases	$ 2,375,000	$ 2,375,000
Other Employment Agreement [Member]
Bonus arrangement current	$ 159,000	$ 317,000

Subsequent Events (Details)

Subsequent Events (Details)	6 Months Ended
	Jun. 30, 2019$ / shares
Subsequent Events [Abstract]
Date Declared	Aug. 1, 2019
Dividend Per Share	$ 0.05
Record Date	Aug. 23, 2019
Payment Date	Sep. 3, 2019