Western Capital Resources (WCRS) 10-Q 13 Nov 20 2020 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2020	Nov. 13, 2020
Cover [Abstract]
Entity Registrant Name	WESTERN CAPITAL RESOURCES, INC.
Entity Central Index Key	0001363958
Document Type	10-Q
Document Period End Date	Sep. 30, 2020
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 Shell Company	false
Entity Common Stock, Shares Outstanding		8,853,816
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
CURRENT ASSETS
Cash and cash equivalents	$ 28,754,705	$ 27,132,540
Short-term investments	17,079,672	14,756,665
Loans receivable (net of allowance for losses of $312,700 and $673,000, respectively)	2,597,405	3,860,411
Accounts receivable (net of allowance for losses of $9,000 and $13,000, respectively)	830,367	517,476
Inventories (net of allowance of $814,000 and $1,065,000, respectively)	9,061,668	8,330,691
Prepaid income taxes	271,663
Prepaid expenses and other	2,329,535	2,679,859
TOTAL CURRENT ASSETS	60,925,015	57,277,642
INVESTMENTS	1,000,000	1,500,000
PROPERTY AND EQUIPMENT, net	8,652,770	9,725,043
OPERATING LEASE RIGHT-OF-USE ASSETS	10,703,625	12,344,894
INTANGIBLE ASSETS, net	3,734,235	4,041,650
LOANS RECEIVABLE	473,080	694,987
OTHER	475,365	525,884
GOODWILL	5,796,528	5,796,528
TOTAL ASSETS	91,760,618	91,906,628
CURRENT LIABILITIES
Accounts payable	6,495,247	7,710,222
Accrued payroll	2,264,213	2,572,331
Current portion operating lease liabilities	4,700,889	5,079,745
Other current liabilities	1,843,448	1,276,613
Income taxes payables		243,149
Current portion notes payable		65,414
Current portion finance lease obligations		1,161
Contract liabilities	495,483	794,830
TOTAL CURRENT LIABILITIES	15,799,280	17,743,465
LONG-TERM LIABILITIES
Notes payable, net of current portion		1,019,837
Operating lease liabilities, net of current portion	6,443,450	7,444,789
Deferred income taxes	352,000	385,000
TOTAL LONG-TERM LIABILITIES	6,795,450	8,849,626
TOTAL LIABILITIES	22,594,730	26,593,091
COMMITMENTS AND CONTINGENCIES (Note 15)
WESTERN SHAREHOLDERS' EQUITY
Common stock, $0.0001 par value, 12,500,000 shares authorized, 8,853,816 and 9,265,778 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively	885	927
Additional paid-in capital	29,031,741	29,031,741
Retained earnings	38,068,810	33,706,035
TOTAL WESTERN SHAREHOLDERS' EQUITY	67,101,436	62,738,703
NONCONTROLLING INTERESTS	2,064,452	2,574,834
TOTAL EQUITY	69,165,888	65,313,537
TOTAL LIABILITIES AND EQUITY	$ 91,760,618	$ 91,906,628

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Loans receivable, allowance for losses	$ 312,700	$ 673,000
Accounts receivable, allowance for losses	9,000	13,000
Inventory, allowance for losses	$ 814,000	$ 1,065,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized	12,500,000	12,500,000
Common stock, issued	8,853,816	9,265,778
Common stock, outstanding	8,853,816	9,265,778

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
REVENUES
Total Revenues	$ 30,288,314	$ 24,517,462	$ 103,457,693	$ 84,631,787
COST OF REVENUES
Cost of sales	14,166,064	9,617,969	45,071,285	35,413,874
Provisions for loans receivable losses	30,768	311,496	110,165	705,604
Total Cost of Revenues	14,196,832	9,929,465	45,181,450	36,119,478
GROSS PROFIT	16,091,482	14,587,997	58,276,243	48,512,309
OPERATING EXPENSES
Salaries, wages and benefits	8,072,951	8,171,391	24,922,510	24,332,859
Occupancy	2,616,528	2,717,531	8,207,235	8,129,476
Advertising, marketing and development	910,400	1,059,814	4,736,975	4,859,494
Depreciation	464,888	441,337	1,454,512	1,309,035
Amortization	167,763	155,507	541,432	518,422
Other	1,934,642	1,914,734	7,223,660	6,200,604
Total Operating Expenses	14,167,172	14,460,314	47,086,324	45,349,890
OPERATING INCOME	1,924,310	127,683	11,189,919	3,162,419
OTHER INCOME (EXPENSES):
Dividend and interest income	54,596	198,817	265,043	574,336
Interest expense	(13,936)	(28,918)	(45,342)	(84,332)
Total Other Income (Expenses)	40,660	169,899	219,701	490,004
INCOME BEFORE INCOME TAXES	1,964,970	297,582	11,409,620	3,652,423
PROVISION FOR INCOME TAX EXPENSE	388,420	7,000	2,398,530	683,000
NET INCOME	1,576,550	290,582	9,011,090	2,969,423
LESS NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(575,748)	(340,274)	(1,492,220)	(837,502)
NET INCOME (LOSS) ATTRIBUTABLE TO WESTERN COMMON SHAREHOLDERS	$ 1,000,802	$ (49,692)	$ 7,518,870	$ 2,131,921
EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO WESTERN COMMON SHAREHOLDERS
Basic and diluted (in dollars per share)	$ 0.11	$ (0.01)	$ 0.82	$ 0.23
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic and diluted (in shares)	9,074,440	9,377,563	9,183,895	9,384,932
Sales and Associated Fees [Member]
REVENUES
Total Revenues	$ 23,569,858	$ 18,200,217	$ 83,697,619	$ 66,199,796
Financing Fees and Interest [Member]
REVENUES
Total Revenues	1,419,231	2,203,155	4,636,027	6,303,800
Other Revenue [Member]
REVENUES
Total Revenues	$ 5,299,225	$ 4,114,090	$ 15,124,047	$ 12,128,191

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, 2018	$ 939	$ 29,031,741	$ 33,774,293	$ 1,876,908	$ 64,683,881
Balance at beginning (in 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 equity contribution				17,446	17,446
Distributions to Noncontrolling Interests				(266,600)	(266,600)
Dividends			(469,434)		(469,434)
Balance at end at Mar. 31, 2019	$ 939	29,031,741	34,355,272	1,877,451	65,265,403
Balance at end (in 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 (in shares) at Dec. 31, 2018	9,388,677
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)					2,969,423
Balance at end at Sep. 30, 2019	$ 935	29,031,741	34,339,217	1,795,256	65,167,149
Balance at end (in shares) at Sep. 30, 2019	9,348,695
Balance at beginning at Mar. 31, 2019	$ 939	29,031,741	34,355,272	1,877,451	65,265,403
Balance at beginning (in 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
Distributions to Noncontrolling Interests				(470,000)	(470,000)
Dividends			(469,434)		(469,434)
Balance at end at Jun. 30, 2019	$ 939	29,031,741	35,017,038	1,654,982	65,704,700
Balance at end (in shares) at Jun. 30, 2019	9,388,677
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)			(49,692)	340,274	290,582
Distributions to Noncontrolling Interests				(200,000)	(200,000)
Stock redemption	$ (4)		(159,217)		(159,221)
Stock redemption (in shares)	(39,982)
Dividends			(468,912)		(468,912)
Balance at end at Sep. 30, 2019	$ 935	29,031,741	34,339,217	1,795,256	65,167,149
Balance at end (in shares) at Sep. 30, 2019	9,348,695
Balance at beginning at Dec. 31, 2019	$ 927	29,031,741	33,706,035	2,574,834	65,313,537
Balance at beginning (in shares) at Dec. 31, 2019	9,265,778
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)			1,904,335	462,568	2,366,903
Distributions to Noncontrolling Interests				(45,000)	(45,000)
Dividends			(463,289)		(463,289)
Balance at end at Mar. 31, 2020	$ 927	29,031,741	35,147,081	2,992,402	67,172,151
Balance at end (in shares) at Mar. 31, 2020	9,265,778
Balance at beginning at Dec. 31, 2019	$ 927	29,031,741	33,706,035	2,574,834	65,313,537
Balance at beginning (in shares) at Dec. 31, 2019	9,265,778
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)					9,011,090
Balance at end at Sep. 30, 2020	$ 885	29,031,741	38,068,810	2,064,452	69,165,888
Balance at end (in shares) at Sep. 30, 2020	8,853,816
Balance at beginning at Mar. 31, 2020	$ 927	29,031,741	35,147,081	2,992,402	67,172,151
Balance at beginning (in shares) at Mar. 31, 2020	9,265,778
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)			4,613,733	453,904	5,067,637
Distributions to Noncontrolling Interests				(1,079,602)	(1,079,602)
Stock redemption	$ (14)		(547,169)		(547,183)
Stock redemption (in shares)	(130,889)
Dividends			(230,865)		(230,865)
Balance at end at Jun. 30, 2020	$ 913	29,031,741	38,982,780	2,366,704	70,382,138
Balance at end (in shares) at Jun. 30, 2020	9,134,889
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)			1,000,802	575,748	1,576,550
Distributions to Noncontrolling Interests				(878,000)	(878,000)
Stock redemption	$ (28)		(1,686,399)		(1,686,427)
Stock redemption (in shares)	(281,073)
Dividends			(228,373)		(228,373)
Balance at end at Sep. 30, 2020	$ 885	$ 29,031,741	$ 38,068,810	$ 2,064,452	$ 69,165,888
Balance at end (in shares) at Sep. 30, 2020	8,853,816

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
OPERATING ACTIVITIES
Net income	$ 9,011,090	$ 2,969,423
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	1,454,512	1,309,035
Amortization	541,432	518,422
Amortization of operating lease right-of-use assets	4,203,264	4,200,455
Deferred income taxes	(33,000)	359,000
Loss (gain) on disposals	436,775	(73,086)
Accrued interest from investing activities	(1,932)
Changes in operating assets and liabilities:
Loans receivable	1,263,006	426,596
Accounts receivable	(312,891)	(259,146)
Inventory	(649,557)	(411,322)
Prepaid expenses and other assets	97,064	28,833
Operating lease liabilities	(4,811,774)	(4,675,738)
Accounts payable and accrued expenses	(1,406,202)	(3,335,321)
Contract liabilities and other current liabilities	(346,368)	(325,811)
Net cash and cash equivalents provided by operating activities	9,445,419	731,340
INVESTING ACTIVITIES
Purchases of investments	(37,263,764)	(23,728,805)
Proceeds from held-to-maturity investments	35,417,921	30,965,130
Purchases of property and equipment	(409,194)	(544,864)
Acquisition of stores, net of cash acquired	(566,586)	(164,400)
Advances on loans receivable	(6,590)	(578,948)
Proceeds from the disposal of operating assets	382,989	1,195,000
Net cash and cash equivalents provided by (used in) investing activities	(2,445,224)	7,143,113
FINANCING ACTIVITIES
Payments on notes payable - long-term	(1,085,251)	(54,226)
Common stock redemption	(1,619,754)	(159,221)
Payments on finance leases	(1,161)	(37,275)
Distributions to noncontrolling interests	(1,749,337)	(936,600)
Payments of dividends	(922,527)	(1,407,780)
Net cash and cash equivalents used in financing activities	(5,378,030)	(2,595,102)
NET INCREASE IN CASH AND CASH EQUIVALENTS	1,622,165	5,279,351
CASH AND CASH EQUIVALENTS
Beginning of period	27,132,540	16,724,983
End of period	28,754,705	22,004,334
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Income taxes paid	2,952,337	576,638
Interest paid	50,509	69,246
Noncash investing and financing activities:
Assets received in acquisition (see Note 13)	1,233,616	1,738,546
Liabilities assumed in acquisition (see Note 13)	1,233,616	1,369,024
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 and operating lease obligations incurred	2,656,498	244,077
Right-of-use asset disposals	1,145,732
Right-of-use liability disposals	706,030
Stock repurchase	613,856
Distribution to noncontrolling interest applied to loan receivable	$ 253,265

Basis of Presentation, Nature o

Basis of Presentation, Nature of Business and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
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 nine month periods ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. Management has analyzed the impact of the Coronavirus pandemic (“COVID-19”) on its financial statements as of September 30, 2020 and has determined that the changes to its significant judgements and estimates did not have a material impact with respect to goodwill, intangible assets or long-lived assets. For further information, refer to the Consolidated Financial Statements and notes thereto included in our Form 10-K for the year ended December 31, 2019. The condensed consolidated balance sheet at December 31, 2019, 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 206 cellular retail stores as of September 30, 2020 (102 100% owned plus 104 held through its controlled but less than 100% owned subsidiaries), exclusively as an authorized retailer 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 “payday” stores (37 as of September 30, 2020, two of which are located within the Company’s retail pawn stores) in six states (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. ○ Express Pawn, Inc. (“EPI”) (100%) – owns and operates retail pawn stores (three as of September 30, 2020) 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, intangible assets, and right-of-use 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 Statement of Income reclassifications have been made in the presentation of our prior financial statements to conform to the presentation as of and for the three and nine months ended September 30, 2020. Recent Accounting Pronouncements In April, 2020 the staff of the Financial Accounting Standards Board (FASB) issued a question-and-answer document that states entities may elect not to evaluate whether a concession provided by a lessor to a lessee in response to the effects of the coronavirus pandemic is a lease modification. Retailers may make the elections for any lessor-provided concessions related to the effects of the coronavirus pandemic as long as the concession does not result in a substantial increase in the rights of the lessor or the obligations of the lessee. The Company has made such election. The Company has received minimal rent concessions and has not entered into any related lease modifications to date. As such, the Company does not believe this election will have a material impact on its financial condition, results of operations or consolidated financial statements. No other new accounting pronouncements issued or effective during the period 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	9 Months Ended
	Sep. 30, 2020
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 have imposed significant restrictions on the industry, and it was expected that a large number of lenders would be forced to close their stores as a result of the rule. 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 was implemented as originally adopted. However, in January 2018, the CFPB issued a statement that it intended to “reconsider” the regulation and delayed the August 19, 2019 compliance date for the other provisions to November 19, 2020. In July 2020, the CFPB issued a final rule applicable to the 2017 rule. The final rule rescinds the mandatory underwriting provisions of the 2017 rule but does not rescind or alter the payments provisions of the 2017 rule. The CFPB will seek to have these rules go into effect with a reasonable period for entities to come into compliance. The implementation of the final rule is likely to result in a reduction of in-house bad debt collections, higher collection costs and thus a negative impact on business conducted within our Consumer Finance segment. Consumer advocacy groups in many states are actively seeking state law changes which would effectively end the viability of a payday loan business, including Nebraska where in 2019 we generate approximately 30% of our payday lending revenue, or approximately 2% of our consolidated revenue. If these groups are successful in Nebraska, we will likely cease payday lending activities in Nebraska. In June 2020, a Nebraska group submitted signatures for a ballot initiative that would limit all fees charged by payday lenders in Nebraska to an annual interest rate of 36%. As a result, the initiative is expected to be on the Nebraska statewide ballot for the November 3, 2020 election. The implementation of the CFPB rule, the passage of the Nebraska ballot initiative 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 September 30, 2020, the Company had demand deposits in excess of insurance amounts of approximately $7.39 million. COVID-19 In December 2019 COVID-19 emerged in Wuhan, China. While initially the outbreak was largely concentrated in China and caused significant disruptions to its economy, it has now spread to almost all other countries, including the United States, and infections have been reported globally, with much of the United States experiencing a “third peak” in infections during the fall months. Because COVID-19 infections have been reported throughout the United States, certain federal, state and local governmental authorities have issued stay-at-home orders and others proclamations and/or directives aimed at minimizing the spread of COVID-19. Additional, more restrictive proclamations and/or directives may be issued in the future. Since the start of the pandemic, the Company’s Cellular Retail segment had temporarily closed approximately 75 locations, all but 22 of which subsequently re-opened by the end of April 2020. In June 2020, those 22 closed locations plus five others were permanently closed. The ultimate impact of the COVID-19 pandemic on the Company’s operations is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the COVID-19 outbreak, new information which may emerge concerning the severity of the COVID-19 pandemic, and any additional preventative and protective actions that governments, or the Company, may direct, which may result in an extended period of continued business disruption, reduced customer traffic and reduced operations. Any resulting financial impact cannot be reasonably estimated at this time but may have a material impact on our business, financial condition and results of operations. The significance of the impact of the COVID-19 outbreak on the Company’s businesses and the duration for which it may have an impact cannot be determined at this time.

Cash Equivalents and Marketable

Cash Equivalents and Marketable Investments	9 Months Ended
	Sep. 30, 2020
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 and cash equivalents and held-to-maturity investments, by significant investment category, recorded as cash and cash equivalents or short- and long-term investments: September 30, 2020 December 31, 2019 Cash and cash equivalents Operating accounts $ 14,070,233 $ 10,163,845 Money Market – U.S. Treasury obligations 1,284,804 12,518,262 U.S. Treasury obligations 13,399,668 4,450,433 Subtotal 28,754,705 27,132,540 Held to Maturity Investments Certificates of deposit (4 – 24 month maturities, FDIC insured) $ 18,079,672 $ 9,049,787 U.S. Treasury obligations (less than one year maturities) — 7,206,878 Subtotal 18,079,672 16,256,665 TOTAL $ 46,834,377 $ 43,389,205 Held to maturity investments consisted of the following: September 30, 2020 Cost Accrued Interest Amortized Discount Amortized Cost Unrealized Gain (Loss) Estimated Fair Value Certificates of Deposit $ 18,028,318 $ 51,354 $ — $ 18,079,672 $ 13,040 $ 18,092,712 U.S. Treasuries — — — — — — $ 18,028,318 $ 51,354 $ — $ 18,079,672 $ 13,040 $ 18,092,712 December 31, 2019 Cost Accrued Interest Amortized Discount Amortized Cost Unrealized Gain (Loss) Estimated Fair Value Certificates of Deposit $ 9,015,618 $ 34,169 $ — $ 9,049,787 $ (32,429 ) $ 9,017,358 U.S. Treasuries 7,153,587 — 53,291 7,206,878 2,883 7,209,761 $ 16,169,205 $ 34,169 $ 53,291 $ 16,256,665 $ (29,546 ) $ 16,227,119 Interest income recognized on held-to-maturity investments and other sources was as follows: Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 Held-to-maturity $ 44,694 $ 112,158 $ 210,725 $ 412,855 Other 9,902 86,659 54,318 161,481 $ 54,596 $ 198,817 $ 265,043 $ 574,336 The Company deposited in aggregate $1.75 million of cash across seven 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	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
Loans Receivable	4. Loans Receivable – The Consumer Finance segment’s outstanding loans receivable aging is as follows: September 30, 2020 Payday Installment Pawn Total Current $ 2,197,694 $ 42,495 $ 261,599 $ 2,501,788 1-30 130,093 4,793 — 134,886 31-60 84,270 546 — 84,816 61-90 81,382 — — 81,382 91-120 44,418 — — 44,418 121-150 17,964 — — 17,964 151-180 44,851 — — 44,851 2,600,672 47,834 261,599 2,910,105 Less Allowance (312,700 ) — — (312,700 ) $ 2,287,972 $ 47,834 $ 261,599 $ 2,597,405 December 31, 2019 Payday Installment Pawn Total Current $ 3,322,131 $ 67,891 $ 309,934 $ 3,699,956 1-30 216,753 10,590 — 227,343 31-60 140,872 6,234 — 147,106 61-90 117,544 2,649 — 120,193 91-120 118,626 840 — 119,466 121-150 110,278 395 — 110,673 151-180 108,674 — — 108,674 4,134,878 88,599 309,934 4,533,411 Less Allowance (673,000 ) — — (673,000 ) $ 3,461,878 $ 88,599 $ 309,934 $ 3,860,411

Loans Receivable Allowance

Loans Receivable Allowance	9 Months Ended
	Sep. 30, 2020
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: Nine Months Ended September 30, 2020 Year Ended December 31, 2019 Loans receivable allowance, beginning of period $ 673,000 $ 818,000 Provision for loan losses charged to expense 110,165 975,938 Write-offs, net (470,465 ) (1,120,938 ) Loans receivable allowance, end of period $ 312,700 $ 673,000

Accounts Receivable

Accounts Receivable	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
Accounts Receivable	6. Accounts Receivable – A breakdown of accounts receivables by segment is as follows: September 30, 2020 Cellular Retail Direct to Consumer Consumer Finance Total Accounts receivable $ 225,696 $ 590,533 $ 23,138 $ 839,367 Less allowance — (9,000 ) — (9,000 ) Net accounts receivable $ 225,696 $ 581,533 $ 23,138 $ 830,367 December 31, 2019 Cellular Retail Direct to Consumer Consumer Finance Total Accounts receivable $ 184,519 $ 318,235 $ 27,722 $ 530,476 Less allowance — (13,000 ) — (13,000 ) Net accounts receivable $ 184,519 $ 305,235 $ 27,722 $ 517,476 A portion of accounts receivable are unsettled credit card sales from the prior one to five business days. This makes up 74% and 68% of the net accounts receivable balance at September 30, 2020 and December 31, 2019, respectively.

Inventory

Inventory	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Inventory	7. Inventory – Inventories consist of: September 30, 2020 December 31, 2019 Finished Goods Cellular Retail $ 5,466,853 $ 5,687,771 Direct to Consumer 3,682,418 2,888,483 Consumer Finance 726,397 819,437 Reserve (814,000 ) (1,065,000 ) TOTAL $ 9,061,668 $ 8,330,691 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 $814,000 and $1,065,000 at September 30, 2020 and December 31, 2019, respectively. These inventory write-downs have been reflected in adjustments to 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	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	8. Leases – The Company lease accounting policy follows the guidance from ASC 842 - Leases, which provides guidance on the recognition, presentation and disclosure of leases in consolidated condensed financial statements. Total components of operating lease expense for the real property asset class (in thousands) were as follows: Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Operating lease expense $ 1,520 $ 4,760 Variable lease expense 506 1,663 Total lease expense $ 2,026 $ 6,423 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease expense $ 1,421 $ 4,190 Variable lease expense 633 2,008 Total lease expense $ 2,054 $ 6,198 Other information related to operating leases was as follows: September 30, 2020 September 30, 2019 Weighted average remaining lease term, in years 2.83 2.79 Weighted average discount rate 5.5 % 5.9 % Future minimum lease payments under operating leases as of September 30, 2020 (in thousands) were as follows: Operating Leases Remainder of 2020 $ 1,440 2021 4,800 2022 3,273 2023 1,690 2024 779 2025 138 Thereafter 28 Total future minimum lease payments 12,148 Less: imputed interest (1,004 ) Total $ 11,144 Current portion operating lease liabilities $ 4,701 Non-current operating lease liabilities 6,443 Total $ 11,144

Notes Payable - Long Term

Notes Payable - Long Term	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Notes Payable - Long Term	9. Notes Payable – Long Term – September 30, 2020 December 31, 2019 Subsidiary subordinated note pa yab le to seller with monthly interest only payments at 6%, guaranteed by PQH , with a maturity date of August 5 22. The note was paid off in August 2020. $ — $ 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. The note was paid off in September 2020 and refinanced internally. — 296,035 Total — 1,085,251 Less current maturities — (65,414 ) $ — $ 1,019,837

Cash Dividends

Cash Dividends	9 Months Ended
	Sep. 30, 2020
Dividends [Abstract]
Cash Dividends	10. Cash Dividends – Date Declared Record Date Dividend Per Share Payment Date Dividend Paid February 13, 2020 February 28, 2020 $0.050 March 9, 2020 $463,289 May 5, 2020 May 22, 2020 $0.025 June 2, 2020 $230,865 August 10, 2020 August 25, 2020 $0.025 September 4, 2020 $228,373

Revenue

Revenue	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue	11. 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 compensation from Cricket Wireless. As a Cricket Wireless authorized retailer, we earn compensation from Cricket Wireless for activating a new customer on the Cricket Wireless network, activating new devices for existing Cricket Wireless customers (“back-end compensation”) and upon an existing Cricket Wireless customer whom we originally activated on the Cricket Wireless GSM network making a continuing service payment (“CSP”). Due to COVID-19 and at the request of Cricket Wireless, the Cellular Retail segment temporarily closed approximately 75 retail locations in March 2020. In conjunction with the request, Cricket Wireless notified the Company that it would be providing temporary supplemental commissions for the store closures. In addition, Cricket Wireless temporarily increased other supplemental commissions for qualifying activations. COVID-19 related supplemental commissions of approximately $0 and $1,530,000, as reported to us by Cricket, was included in revenue in the three and nine month periods ended September 30, 2020. The closure related supplemental compensation assistance from Cricket ended by June 30, 2020. Revenue generated from short-term lending agreements in the Consumer Finance segment and from Company 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 or receivable, the customer takes control of the merchandise and, applicable to devices, the device has been activated on the Cricket Wireless network. 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 reflect the transaction price when product is shipped to customers, FOB shipping point, reduced by variable consideration. Shipping and handling fees 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 from customer paid fees is generally recorded at point of sale when payment is received and the customer receives the benefit of the service. CSP compensation from Cricket Wireless is recorded as of the time certain Cricket Wireless customers make a service payment, as reported to us by Cricket Wireless. Recognized as revenue per ASC 825, 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 on historical forfeiture rates. See Note 14, “Segment Information,” for disaggregation of revenue by segment.

Other Operating Expense

Other Operating Expense	9 Months Ended
	Sep. 30, 2020
Other Income and Expenses [Abstract]
Other Operating Expense	12. Other Operating Expense – A breakout of other expense is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Bank fees $ 411,189 $ 353,064 $ 1,705,582 $ 1,397,631 Collection costs 93,464 82,503 250,939 242,855 Insurance 191,108 178,414 587,440 545,056 Management and advisory fees 220,303 211,003 651,609 624,151 Professional and consulting fees 354,725 325,824 1,004,461 1,115,629 Supplies 185,744 170,387 605,898 453,198 Loss on disposal — 66,685 662,522 77,883 Other 478,109 526,854 1,755,209 1,744,201 $ 1,934,642 $ 1,914,734 $ 7,223,660 $ 6,200,604

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Acquisitions	13. Acquisitions – Cellular Retail Acquisitions In 2020, PQH completed Cricket retail location transactions, acquiring 19 locations. In 2019, PQH contributed a note payable in exchange for a 51% ownership interest in a newly formed subsidiary Summit JV, LLC (“Summit”) and another Cricket Wireless dealer contributed substantially all its assets, including 28 Cricket Wireless retail locations, and specified liabilities in exchange for a 49% ownership interest in Summit and receipt of the note payable contributed by PQH. Effective March 1, 2019, we consummated the transaction. The purchase price calculations (in thousands) are as follows: 2020 2019 Cash $ 568 $ — Note payable — 18 Noncontrolling interests/equity — 17 $ 568 $ 35 The assets acquired and liabilities assumed (in thousands) were recorded at their estimated fair values as of the purchase dates as follows: 2020 2019 Cash $ 2 $ 14 Receivables — 272 Inventory 82 50 Property and equipment 272 596 Intangible assets 234 — Operating lease right-of-use assets 1,178 772 Other assets 33 48 Other liabilities (55 ) (597 ) Operating lease liabilities (1,178 ) (772 ) Term note payable — (348 ) $ 568 $ 35

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Information	14. Segment Information – Segment information related to the three and nine month periods ended September 30, 2020 and 2019 (in thousands) is as follows: Three Months Ended September 30, 2020 (in thousands) Cellular Retail Direct to Consumer Consumer Finance Corporate Total Revenue from external customers $ 22,589 $ 5,901 $ 379 $ — $ 28,869 Fees and interest income $ — $ — $ 1,419 $ — $ 1,419 Total revenue $ 22,589 $ 5,901 $ 1,798 $ — $ 30,288 Net income (loss) $ 1,717 $ (60 ) $ 112 $ (192 ) $ 1,577 Expenditures for segmented assets $ 62 $ 138 $ — $ — $ 200 Three Months Ended September 30, 2019 (in thousands) Cellular Retail Direct to Consumer Consumer Finance Corporate Total Revenue from external customers $ 16,969 $ 4,925 $ 420 $ — $ 22,314 Fees and interest income $ — $ — $ 2,203 $ — $ 2,203 Total revenue $ 16,969 $ 4,925 $ 2,623 $ — $ 24,517 Net income (loss) $ 690 $ (610 ) $ 279 $ (69 ) $ 290 Expenditures for segmented assets $ 185 $ 149 $ — $ — $ 334 Nine Months Ended September 30, 2020 (in thousands) Cellular Retail Direct to Consumer Consumer Finance Corporate Total Revenue from external customers $ 63,609 $ 33,841 $ 1,372 $ — $ 98,822 Fees and interest income $ — $ — $ 4,636 $ — $ 4,636 Total Revenue $ 63,609 $ 33,841 $ 6,008 $ — $ 103,458 Net income (loss) $ 4,435 $ 4,672 $ 478 $ (574 ) $ 9,011 Total segment assets $ 34,375 $ 14,155 $ 7,792 $ 35,439 $ 91,761 Expenditures for segmented assets $ 696 $ 337 $ — $ — $ 1,033 Nine Months Ended September 30, 2019 (in thousands) Cellular Retail Direct to Consumer Consumer Finance Corporate Total Revenue from external customers $ 49,753 $ 27,339 $ 1,236 $ — $ 78,328 Fees and interest income $ — $ — $ 6,304 $ — $ 6,304 Total Revenue $ 49,753 $ 27,339 $ 7,540 $ — $ 84,632 Net income (loss) $ 1,702 $ 733 $ 741 $ (207 ) $ 2,969 Total segment assets $ 30,779 $ 12,976 $ 8,817 $ 35,761 $ 88,333 Expenditures for segmented assets $ 507 $ 216 $ — $ — $ 723

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	15. Commitments and Contingencies – Employment Agreements Pursuant to the numerous employment agreements, bonuses of approximately $347,000 and $932,000 were accrued for the three and nine months ended September 30, 2020, respectively. Assigned Leases The Company’s Cellular Retail segment has transferred operations of many locations to other dealers and remains contingently liable under many lease agreements. 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 $1,312,000 as of September 30, 2020. Legal Proceedings The Company is party to a variety of legal actions arising out of the normal course of business. Plaintiffs occasionally seek punitive or exemplary damages. The Company does not believe that such normal and routine litigation will have a material impact on its consolidated financial results.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	16. Subsequent Events – Consumer Finance – NE Operations On November 3, 2020, Nebraska voters passed a ballot initiative that limits all fees charged by payday lenders in Nebraska to an annual interest rate of 36%. This initiative will cause us to close our Nebraska payday lending operations which we expect to have completed by mid-December 2020. The loss of Nebraska operations will have a significant impact on this segment’s contributions to shareholder earnings. Dividend Declared Our Board of Directors declared the following dividend: Date Declared Record Date Dividend Per Share Payment Date November 3, 2020 November 17, 2020 $0.025 November 30, 2020 We evaluated all events or transactions that occurred after September 30, 2020 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)	9 Months Ended
	Sep. 30, 2020
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 nine month periods ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. Management has analyzed the impact of the Coronavirus pandemic (“COVID-19”) on its financial statements as of September 30, 2020 and has determined that the changes to its significant judgements and estimates did not have a material impact with respect to goodwill, intangible assets or long-lived assets. For further information, refer to the Consolidated Financial Statements and notes thereto included in our Form 10-K for the year ended December 31, 2019. The condensed consolidated balance sheet at December 31, 2019, 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 206 cellular retail stores as of September 30, 2020 (102 100% owned plus 104 held through its controlled but less than 100% owned subsidiaries), exclusively as an authorized retailer 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 “payday” stores (37 as of September 30, 2020, two of which are located within the Company’s retail pawn stores) in six states (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. ○ Express Pawn, Inc. (“EPI”) (100%) – owns and operates retail pawn stores (three as of September 30, 2020) 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, intangible assets, and right-of-use 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 Statement of Income reclassifications have been made in the presentation of our prior financial statements to conform to the presentation as of and for the three and nine months ended September 30, 2020.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In April, 2020 the staff of the Financial Accounting Standards Board (FASB) issued a question-and-answer document that states entities may elect not to evaluate whether a concession provided by a lessor to a lessee in response to the effects of the coronavirus pandemic is a lease modification. Retailers may make the elections for any lessor-provided concessions related to the effects of the coronavirus pandemic as long as the concession does not result in a substantial increase in the rights of the lessor or the obligations of the lessee. The Company has made such election. The Company has received minimal rent concessions and has not entered into any related lease modifications to date. As such, the Company does not believe this election will have a material impact on its financial condition, results of operations or consolidated financial statements. No other new accounting pronouncements issued or effective during the period 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)	9 Months Ended
	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of cash equivalents or short and long-term investments	The following table shows the Company’s cash and cash equivalents and held-to-maturity investments, by significant investment category, recorded as cash and cash equivalents or short- and long-term investments: September 30, 2020 December 31, 2019 Cash and cash equivalents Operating accounts $ 14,070,233 $ 10,163,845 Money Market – U.S. Treasury obligations 1,284,804 12,518,262 U.S. Treasury obligations 13,399,668 4,450,433 Subtotal 28,754,705 27,132,540 Held to Maturity Investments Certificates of deposit (4 – 24 month maturities, FDIC insured) $ 18,079,672 $ 9,049,787 U.S. Treasury obligations (less than one year maturities) — 7,206,878 Subtotal 18,079,672 16,256,665 TOTAL $ 46,834,377 $ 43,389,205
Schedule of held to maturity investments	Held to maturity investments consisted of the following: September 30, 2020 Cost Accrued Interest Amortized Discount Amortized Cost Unrealized Gain (Loss) Estimated Fair Value Certificates of Deposit $ 18,028,318 $ 51,354 $ — $ 18,079,672 $ 13,040 $ 18,092,712 U.S. Treasuries — — — — — — $ 18,028,318 $ 51,354 $ — $ 18,079,672 $ 13,040 $ 18,092,712 December 31, 2019 Cost Accrued Interest Amortized Discount Amortized Cost Unrealized Gain (Loss) Estimated Fair Value Certificates of Deposit $ 9,015,618 $ 34,169 $ — $ 9,049,787 $ (32,429 ) $ 9,017,358 U.S. Treasuries 7,153,587 — 53,291 7,206,878 2,883 7,209,761 $ 16,169,205 $ 34,169 $ 53,291 $ 16,256,665 $ (29,546 ) $ 16,227,119
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 September 30, 2020 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 Held-to-maturity $ 44,694 $ 112,158 $ 210,725 $ 412,855 Other 9,902 86,659 54,318 161,481 $ 54,596 $ 198,817 $ 265,043 $ 574,336

Loans Receivable (Tables)

Loans Receivable (Tables)	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
Schedule of outstanding loans receivable aging	The Consumer Finance segment’s outstanding loans receivable aging is as follows: September 30, 2020 Payday Installment Pawn Total Current $ 2,197,694 $ 42,495 $ 261,599 $ 2,501,788 1-30 130,093 4,793 — 134,886 31-60 84,270 546 — 84,816 61-90 81,382 — — 81,382 91-120 44,418 — — 44,418 121-150 17,964 — — 17,964 151-180 44,851 — — 44,851 2,600,672 47,834 261,599 2,910,105 Less Allowance (312,700 ) — — (312,700 ) $ 2,287,972 $ 47,834 $ 261,599 $ 2,597,405 December 31, 2019 Payday Installment Pawn Total Current $ 3,322,131 $ 67,891 $ 309,934 $ 3,699,956 1-30 216,753 10,590 — 227,343 31-60 140,872 6,234 — 147,106 61-90 117,544 2,649 — 120,193 91-120 118,626 840 — 119,466 121-150 110,278 395 — 110,673 151-180 108,674 — — 108,674 4,134,878 88,599 309,934 4,533,411 Less Allowance (673,000 ) — — (673,000 ) $ 3,461,878 $ 88,599 $ 309,934 $ 3,860,411

Loans Receivable Allowance (Tab

Loans Receivable Allowance (Tables)	9 Months Ended
	Sep. 30, 2020
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: Nine Months Ended September 30, 2020 Year Ended December 31, 2019 Loans receivable allowance, beginning of period $ 673,000 $ 818,000 Provision for loan losses charged to expense 110,165 975,938 Write-offs, net (470,465 ) (1,120,938 ) Loans receivable allowance, end of period $ 312,700 $ 673,000

Accounts Receivable (Tables)

Accounts Receivable (Tables)	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
Schedule of accounts receivable	A breakdown of accounts receivables by segment is as follows: September 30, 2020 Cellular Retail Direct to Consumer Consumer Finance Total Accounts receivable $ 225,696 $ 590,533 $ 23,138 $ 839,367 Less allowance — (9,000 ) — (9,000 ) Net accounts receivable $ 225,696 $ 581,533 $ 23,138 $ 830,367 December 31, 2019 Cellular Retail Direct to Consumer Consumer Finance Total Accounts receivable $ 184,519 $ 318,235 $ 27,722 $ 530,476 Less allowance — (13,000 ) — (13,000 ) Net accounts receivable $ 184,519 $ 305,235 $ 27,722 $ 517,476

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Schedule of inventory	Inventories consist of: September 30, 2020 December 31, 2019 Finished Goods Cellular Retail $ 5,466,853 $ 5,687,771 Direct to Consumer 3,682,418 2,888,483 Consumer Finance 726,397 819,437 Reserve (814,000 ) (1,065,000 ) TOTAL $ 9,061,668 $ 8,330,691

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
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 September 30, 2020 Nine Months Ended September 30, 2020 Operating lease expense $ 1,520 $ 4,760 Variable lease expense 506 1,663 Total lease expense $ 2,026 $ 6,423 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease expense $ 1,421 $ 4,190 Variable lease expense 633 2,008 Total lease expense $ 2,054 $ 6,198
Schedule of weighted average remaining lease terms and discount rates held	Other information related to operating leases was as follows: September 30, 2020 September 30, 2019 Weighted average remaining lease term, in years 2.83 2.79 Weighted average discount rate 5.5 % 5.9 %
Schedule of future minimum lease payments under leases	Future minimum lease payments under operating leases as of September 30, 2020 (in thousands) were as follows: Operating Leases Remainder of 2020 $ 1,440 2021 4,800 2022 3,273 2023 1,690 2024 779 2025 138 Thereafter 28 Total future minimum lease payments 12,148 Less: imputed interest (1,004 ) Total $ 11,144 Current portion operating lease liabilities $ 4,701 Non-current operating lease liabilities 6,443 Total $ 11,144

Notes Payable - Long Term (Tabl

Notes Payable - Long Term (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of long-term debt instruments	September 30, 2020 December 31, 2019 Subsidiary subordinated note pa yab le to seller with monthly interest only payments at 6%, guaranteed by PQH , with a maturity date of August 5 22. The note was paid off in August 2020. $ — $ 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. The note was paid off in September 2020 and refinanced internally. — 296,035 Total — 1,085,251 Less current maturities — (65,414 ) $ — $ 1,019,837

Cash Dividends (Tables)

Cash Dividends (Tables)	9 Months Ended
	Sep. 30, 2020
Dividends [Abstract]
Schedule of cash dividends	Date Declared Record Date Dividend Per Share Payment Date Dividend Paid February 13, 2020 February 28, 2020 $0.050 March 9, 2020 $463,289 May 5, 2020 May 22, 2020 $0.025 June 2, 2020 $230,865 August 10, 2020 August 25, 2020 $0.025 September 4, 2020 $228,373

Other Operating Expense (Tables

Other Operating Expense (Tables)	9 Months Ended
	Sep. 30, 2020
Other Income and Expenses [Abstract]
Schedule of other operating expenses	A breakout of other expense is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Bank fees $ 411,189 $ 353,064 $ 1,705,582 $ 1,397,631 Collection costs 93,464 82,503 250,939 242,855 Insurance 191,108 178,414 587,440 545,056 Management and advisory fees 220,303 211,003 651,609 624,151 Professional and consulting fees 354,725 325,824 1,004,461 1,115,629 Supplies 185,744 170,387 605,898 453,198 Loss on disposal — 66,685 662,522 77,883 Other 478,109 526,854 1,755,209 1,744,201 $ 1,934,642 $ 1,914,734 $ 7,223,660 $ 6,200,604

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Schedule of purchase price	The purchase price calculations (in thousands) are as follows: 2020 2019 Cash $ 568 $ — Note payable — 18 Noncontrolling interests/equity — 17 $ 568 $ 35
Schedule of assets acquired and liabilities assumed	The assets acquired and liabilities assumed (in thousands) were recorded at their estimated fair values as of the purchase dates as follows: 2020 2019 Cash $ 2 $ 14 Receivables — 272 Inventory 82 50 Property and equipment 272 596 Intangible assets 234 — Operating lease right-of-use assets 1,178 772 Other assets 33 48 Other liabilities (55 ) (597 ) Operating lease liabilities (1,178 ) (772 ) Term note payable — (348 ) $ 568 $ 35

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Schedule of segment information	Segment information related to the three and nine month periods ended September 30, 2020 and 2019 (in thousands) is as follows: Three Months Ended September 30, 2020 (in thousands) Cellular Retail Direct to Consumer Consumer Finance Corporate Total Revenue from external customers $ 22,589 $ 5,901 $ 379 $ — $ 28,869 Fees and interest income $ — $ — $ 1,419 $ — $ 1,419 Total revenue $ 22,589 $ 5,901 $ 1,798 $ — $ 30,288 Net income (loss) $ 1,717 $ (60 ) $ 112 $ (192 ) $ 1,577 Expenditures for segmented assets $ 62 $ 138 $ — $ — $ 200 Three Months Ended September 30, 2019 (in thousands) Cellular Retail Direct to Consumer Consumer Finance Corporate Total Revenue from external customers $ 16,969 $ 4,925 $ 420 $ — $ 22,314 Fees and interest income $ — $ — $ 2,203 $ — $ 2,203 Total revenue $ 16,969 $ 4,925 $ 2,623 $ — $ 24,517 Net income (loss) $ 690 $ (610 ) $ 279 $ (69 ) $ 290 Expenditures for segmented assets $ 185 $ 149 $ — $ — $ 334 Nine Months Ended September 30, 2020 (in thousands) Cellular Retail Direct to Consumer Consumer Finance Corporate Total Revenue from external customers $ 63,609 $ 33,841 $ 1,372 $ — $ 98,822 Fees and interest income $ — $ — $ 4,636 $ — $ 4,636 Total Revenue $ 63,609 $ 33,841 $ 6,008 $ — $ 103,458 Net income (loss) $ 4,435 $ 4,672 $ 478 $ (574 ) $ 9,011 Total segment assets $ 34,375 $ 14,155 $ 7,792 $ 35,439 $ 91,761 Expenditures for segmented assets $ 696 $ 337 $ — $ — $ 1,033 Nine Months Ended September 30, 2019 (in thousands) Cellular Retail Direct to Consumer Consumer Finance Corporate Total Revenue from external customers $ 49,753 $ 27,339 $ 1,236 $ — $ 78,328 Fees and interest income $ — $ — $ 6,304 $ — $ 6,304 Total Revenue $ 49,753 $ 27,339 $ 7,540 $ — $ 84,632 Net income (loss) $ 1,702 $ 733 $ 741 $ (207 ) $ 2,969 Total segment assets $ 30,779 $ 12,976 $ 8,817 $ 35,761 $ 88,333 Expenditures for segmented assets $ 507 $ 216 $ — $ — $ 723

Subsequent Events (Tables)

Subsequent Events (Tables)	9 Months Ended
	Sep. 30, 2020
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 November 3, 2020 November 17, 2020 $0.025 November 30, 2020

Basis of Presentation, Nature_3

Basis of Presentation, Nature of Business and Summary of Significant Accounting Policies (Details Narrative)	9 Months Ended
	Sep. 30, 2020Number
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	37
Subsidiary ownership percentage	100.00%
Number of states in which entity operates	6
Wyoming Financial Lenders, Inc. [Member] | Minimum [Member] | Payday [Member] | Consumer Finance [Member]
Payday loan range	100
Wyoming Financial Lenders, Inc. [Member] | Minimum [Member] | Installment [Member] | Consumer Finance [Member]
Payday loan range	300
Wyoming Financial Lenders, Inc. [Member] | Maximum [Member] | Payday [Member] | Consumer Finance [Member]
Installment loan range	500
Wyoming Financial Lenders, Inc. [Member] | Maximum [Member] | Installment [Member] | Consumer Finance [Member]
Installment loan range	800
Express Pawn, Inc. [Member] | Consumer Finance [Member]
Number of stores	3
Subsidiary ownership percentage	100.00%
PQH Wireless, Inc. [Member] | Cellular Retail [Member]
Number of stores	206
Subsidiary ownership percentage	100.00%
PQH Wireless, Inc. [Member] | PQH Subsidiaries [Member] | Cellular Retail [Member]
Number of stores	104
PQH Wireless, Inc. [Member] | PQH [Member] | Cellular Retail [Member]
Number of stores	102
Number of stores ownership percentage	100.00%

Risks Inherent in the Operati_2

Risks Inherent in the Operating Environment (Details Narrative)	9 Months Ended
	Sep. 30, 2020USD ($)Number
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 was implemented as originally adopted.
WCRS Cash,Excess Over FDIC Insured Amount | $	$ 7,390,000
Percentage of revenue	2.00%
NEBRASKA
Percentage of revenue	30.00%
Annual interest rate	36.00%
Cellular Retail [Member]
Number of locations closed | Number	75

Cash Equivalents and Marketab_3

Cash Equivalents and Marketable Investments (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Cash and cash equivalents
Cash and cash equivalents	$ 28,754,705	$ 27,132,540	$ 22,004,334	$ 16,724,983
Held-to-maturity investments
Held to maturity investments	18,079,672	16,256,665
TOTAL	46,834,377	43,389,205
Operating Accounts [Member]
Cash and cash equivalents
Cash and cash equivalents	14,070,233	10,163,845
Money Market - U.S. Treasury Obligations [Member]
Cash and cash equivalents
Cash and cash equivalents	1,284,804	12,518,262
U.S. Treasury Obligations [Member]
Cash and cash equivalents
Cash and cash equivalents	13,399,668	4,450,433
Held-to-maturity investments
Held to maturity investments		7,206,878
Certificates of Deposit [Member]
Held-to-maturity investments
Held to maturity investments	$ 18,079,672	$ 9,049,787

Cash Equivalents and Marketab_4

Cash Equivalents and Marketable Investments (Details 1) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Cash and Cash Equivalents [Line Items]
Cost	$ 18,028,318	$ 16,169,205
Accrued Interest	51,354	34,169
Amortized Discount		53,291
Amortized Cost	18,079,672	16,256,665
Unrealized Gain (Loss)	13,040	(29,546)
Estimated Fair Value	18,092,712	16,227,119
Certificates of Deposit [Member]
Cash and Cash Equivalents [Line Items]
Cost	18,028,318	9,015,618
Accrued Interest	51,354	34,169
Amortized Discount
Amortized Cost	18,079,672	9,049,787
Unrealized Gain (Loss)	13,040	(32,429)
Estimated Fair Value	18,092,712	9,017,358
U.S. Treasury Obligations [Member]
Cash and Cash Equivalents [Line Items]
Cost		7,153,587
Accrued Interest
Amortized Discount		53,291
Amortized Cost		7,206,878
Unrealized Gain (Loss)		2,883
Estimated Fair Value		$ 7,209,761

Cash Equivalents and Marketab_5

Cash Equivalents and Marketable Investments (Details 2) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Held-to-maturity	$ 44,694	$ 112,158	$ 210,725	$ 412,855
Other	9,902	86,659	54,318	161,481
Dividend and interest income	$ 54,596	$ 198,817	$ 265,043	$ 574,336

Cash Equivalents and Marketab_6

Cash Equivalents and Marketable Investments (Details Narrative)	9 Months Ended
	Sep. 30, 2020USD ($)
Cash and Cash Equivalents [Line Items]
Aggregate deposite	$ 1,750,000
Certificates of Deposit [Member] | Minimum [Member]
Cash and Cash Equivalents [Line Items]
Maturity terms	4 months
Certificates of Deposit [Member] | Maximum [Member]
Cash and Cash Equivalents [Line Items]
Maturity terms	24 months
U.S. Treasury Obligations [Member] | Maximum [Member]
Cash and Cash Equivalents [Line Items]
Maturity terms	1 year

Loans Receivable (Details)

Loans Receivable (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	$ 2,910,105	$ 4,533,411
Less Allowance	(312,700)	(673,000)
Notes, Loans and Financing Receivable, Net, current	2,597,405	3,860,411
Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	2,600,672	4,134,878
Less Allowance	(312,700)	(673,000)
Notes, Loans and Financing Receivable, Net, current	2,287,972	3,461,878
Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	47,834	88,599
Less Allowance
Notes, Loans and Financing Receivable, Net, current	47,834	88,599
Pawn [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	261,599	309,934
Less Allowance
Notes, Loans and Financing Receivable, Net, current	261,599	309,934
Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	2,501,788	3,699,956
Current [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	2,197,694	3,322,131
Current [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	42,495	67,891
Current [Member] | Pawn [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	261,599	309,934
1 To 30 Days [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	134,886	227,343
1 To 30 Days [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	130,093	216,753
1 To 30 Days [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	4,793	10,590
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	84,816	147,106
31 to 60 Days [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	84,270	140,872
31 to 60 Days [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	546	6,234
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	81,382	120,193
61 To 90 Days [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	81,382	117,544
61 To 90 Days [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current		2,649
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	44,418	119,466
91 To 120 Days [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	44,418	118,626
91 To 120 Days [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current		840
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	17,964	108,674
121 To 150 Days [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	17,964	110,278
121 To 150 Days [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current		395
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	44,851	110,673
151 To 180 Days [Member] | Payday [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	44,851	108,674
151 To 180 Days [Member] | Installment Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes, Loans and Financing Receivable, Gross, Current
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 ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Allowance for Loan and Lease Losses [Roll Forward]
Loans receivable allowance, beginning of year	$ 673,000	$ 818,000
Provision for loan losses charged to expense	110,165	975,938
Write-offs, net	(470,465)	(1,120,938)
Loans receivable allowance, end of year	$ 312,700	$ 673,000

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Accounts receivable	$ 839,367	$ 530,476
Less allowance	(9,000)	(13,000)
Net accounts receivable	830,367	517,476
Cellular Retail [Member]
Accounts receivable	225,696	184,519
Less allowance
Net accounts receivable	225,696	184,519
Direct to Consumer [Member]
Accounts receivable	590,533	318,235
Less allowance	(9,000)	(13,000)
Net accounts receivable	581,533	305,235
Consumer Finance [Member]
Accounts receivable	23,138	27,722
Less allowance
Net accounts receivable	$ 23,138	$ 27,722

Accounts Receivable (Details Na

Accounts Receivable (Details Narratve)	Sep. 30, 2020	Dec. 31, 2019
Receivables [Abstract]
Net accounts receivable unsettled of credit card	74.00%	68.00%

Inventory (Details)

Inventory (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Finished Goods
TOTAL	$ 9,061,668	$ 8,330,691
Reserve	(814,000)	(1,065,000)
Cellular Retail [Member]
Finished Goods
TOTAL	5,466,853	5,687,771
Direct to Consumer [Member]
Finished Goods
TOTAL	3,682,418	2,888,483
Consumer Finance [Member]
Finished Goods
TOTAL	726,397	819,437
Reserve [Member]
Finished Goods
Reserve	$ (814,000)	$ (1,065,000)

Inventory (Details Narrative)

Inventory (Details Narrative) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Reduction in inventory	$ 814,000	$ 1,065,000

Leases (Details)

Leases (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating lease expense	$ 1,520	$ 1,421	$ 4,760	$ 4,190
Variable lease expense	506	633	1,663	2,008
Total lease expense	$ 2,026	$ 2,054	$ 6,423	$ 6,198

Leases (Details 1)

Leases (Details 1)	Sep. 30, 2020	Sep. 30, 2019
Other Information:
Weighted average remaining lease term for operating leases	2 years 9 months 29 days	2 years 9 months 14 days
Weighted average discount rate	5.50%	5.90%

Leases (Details 2)

Leases (Details 2) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Operating Leases
Remainder of 2020	$ 1,440
2021	4,800
2022	3,273
2023	1,690
2024	779
2025	138
Thereafter	28
Total future minimum lease payments	12,148
Less: imputed interest	(1,004)
Total	11,144
Current portion operating lease liabilities	4,700,889	$ 5,079,745
Non-Current operating lease liabilities	6,443,450	$ 7,444,789
Total	$ 11,144

Notes Payable - Long Term (Deta

Notes Payable - Long Term (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total		$ 1,085,251
Less current maturities		(65,414)
Notes payable, noncurrent		1,019,837
Note Payable to Seller [Member]
Debt Instrument [Line Items]
Total		789,216
Note Payable to Seller Two [Member]
Debt Instrument [Line Items]
Total		$ 296,035

Notes Payable - Long Term (De_2

Notes Payable - Long Term (Details Narrative)	9 Months Ended
	Sep. 30, 2020USD ($)
Note Payable to Seller [Member]
Debt Instrument [Line Items]
Maturity date	Aug. 5, 2022
Stated interest rate	6.00%
Note Payable to Seller Two [Member]
Debt Instrument [Line Items]
Maturity date	Jan. 4, 2024
Principal periodic payment	$ 6,692
Stated interest rate	5.50%

Cash Dividends (Details)

Cash Dividends (Details) - USD ($)	1 Months Ended	9 Months Ended
	Aug. 31, 2020	Sep. 30, 2020
Date Declared	Nov. 3, 2020
Record Date	Nov. 17, 2020
Dividend Per Share	$ 0.025
Payment Date	Nov. 30, 2020
Dividends [Member]
Date Declared		Feb. 13, 2020
Record Date		Feb. 28, 2020
Dividend Per Share		$ 0.05
Payment Date		Mar. 9, 2020
Dividend Paid		$ 463,289
Dividends [Member]
Date Declared		May 5, 2020
Record Date		May 22, 2020
Dividend Per Share		$ 0.025
Payment Date		Jun. 2, 2020
Dividend Paid		$ 230,865
Dividends [Member]
Date Declared		Aug. 10, 2020
Record Date		Aug. 25, 2020
Dividend Per Share		$ 0.025
Payment Date		Sep. 4, 2020
Dividend Paid		$ 228,373

Revenue (Details Narrative)

Revenue (Details Narrative) - Cellular Retail [Member]	3 Months Ended	9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)Number
Number of location closed | Number		75
Supplemental commissions | $	$ 0	$ 1,530,000

Other Operating Expense (Detail

Other Operating Expense (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Other Income and Expenses [Abstract]
Bank fees	$ 411,189	$ 353,064	$ 1,705,582	$ 1,397,631
Collection costs	93,464	82,503	250,939	242,855
Insurance	191,108	178,414	587,440	545,056
Management and advisory fees	220,303	211,003	651,609	624,151
Professional and consulting fees	354,725	325,824	1,004,461	1,115,629
Supplies	185,744	170,387	605,898	453,198
Loss on disposal		66,685	662,522	77,883
Other	478,109	526,854	1,755,209	1,744,201
Total other expenses	$ 1,934,642	$ 1,914,734	$ 7,223,660	$ 6,200,604

Acquisitions (Details)

Acquisitions (Details) - Cellular Retail Acquisitions [Member] - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Cash	$ 568
Note payable		18
Noncontrolling interests/equity		17
Total	$ 568	$ 35

Acquisitions (Details 1)

Acquisitions (Details 1) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Business Combinations [Abstract]
Cash	$ 2	$ 14
Receivables		272
Inventory	82	50
Property and equipment	272	596
Intangible assets	234
Operating lease right-of-use assets	1,178	772
Other assets	33	48
Other liabilities	(55)	(597)
Operating lease liabilities	(1,178)	(772)
Term note payable		(348)
Total	$ 568	$ 35

Acquisitions (Details Narrative

Acquisitions (Details Narrative) - Cellular Retail Acquisitions [Member] - Number	Sep. 30, 2020	Sep. 30, 2019
Ownership interest		49.00%
Summit JV LLC [Member]
Ownership interest		51.00%
Number of retail locations	19	28

Segment Information (Details)

Segment Information (Details) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenue from external customers	$ 28,869			$ 22,314			$ 98,822	$ 78,328
Fees and interest income	1,419			2,203			4,636	6,304
Total Revenue	30,288,314			24,517,462			103,457,693	84,631,787
Net income (loss)	1,576,550	$ 5,067,637	$ 2,366,903	290,582	$ 1,378,731	$ 1,300,110	9,011,090	2,969,423
Total segment assets	91,760,618			88,333			91,760,618	88,333	$ 91,906,628
Expenditures for segmented assets	200			334			1,033	723
Cellular Retail [Member]
Segment Reporting Information [Line Items]
Revenue from external customers	22,589			16,969			63,609	49,753
Fees and interest income
Total Revenue	22,589			16,969			63,609	49,753
Net income (loss)	1,717			690			4,435	1,702
Total segment assets	34,375			30,779			34,375	30,779
Expenditures for segmented assets	62			185			696	507
Direct to Consumer [Member]
Segment Reporting Information [Line Items]
Revenue from external customers	5,901			4,925			33,841	27,339
Fees and interest income
Total Revenue	5,901			4,925			33,841	27,339
Net income (loss)	(60)			(610)			4,672	733
Total segment assets	14,155			12,976			14,155	12,976
Expenditures for segmented assets	138			149			337	216
Consumer Finance [Member]
Segment Reporting Information [Line Items]
Revenue from external customers	379			420			1,372	1,236
Fees and interest income	1,419			2,203			4,636	6,304
Total Revenue	1,798			2,623			6,008	7,540
Net income (loss)	112			279			478	741
Total segment assets	7,792			8,817			7,792	8,817
Expenditures for segmented assets
Corporate [Member]
Segment Reporting Information [Line Items]
Revenue from external customers
Fees and interest income
Total Revenue
Net income (loss)	(192)			(69)			(574)	(207)
Total segment assets	35,439			35,761			35,439	35,761
Expenditures for segmented assets

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative)	3 Months Ended	9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)
Other Employment Agreement [Member]
Bonus arrangement current	$ 347,000	$ 932,000
Cellular Retail [Member]
Non-cancelable operating leases	$ 1,312,000	$ 1,312,000

Subsequent Events (Details)

Subsequent Events (Details)	1 Months Ended
	Aug. 31, 2020$ / shares
Subsequent Events [Abstract]
Date Declared	Nov. 3, 2020
Record Date	Nov. 17, 2020
Dividend Per Share	$ 0.025
Payment Date	Nov. 30, 2020

Subsequent Events (Details Narr

Subsequent Events (Details Narrative)	Nov. 03, 2020
Lender [Member] | Subsequent Event [Member] | NEBRASKA
Interest rate	36.00%