Western Capital Resources (WCRS) 10-Q 13 Aug 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2021	Aug. 13, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	000-52015
Entity Registrant Name	WESTERN CAPITAL RESOURCES, INC.
Entity Central Index Key	0001363958
Entity Tax Identification Number	47-0848102
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	11550 “I” Street
Entity Address, Address Line Two	Suite 150
Entity Address, City or Town	Omaha
Entity Address, State or Province	NE
Entity Address, Postal Zip Code	68137
City Area Code	(402)
Local Phone Number	551-8888
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,249,900

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
CURRENT ASSETS
Cash and cash equivalents	$ 19,930,190	$ 32,504,803
Short-term investments	35,577,055	17,088,073
Loans receivable (net of allowance for credit losses of $228,000 and $315,000, respectively)	1,812,160	1,941,180
Accounts receivable (net of allowance for credit losses of $21,000 and $33,000, respectively)	1,320,090	1,538,377
Inventories (less reserve of $1,487,000 and $1,321,000, respectively)	13,285,395	11,739,228
Prepaid income taxes	93,287	246,560
Prepaid expenses and other	2,996,918	3,096,058
TOTAL CURRENT ASSETS	75,015,095	68,154,279
Investments		250,000
Property and equipment, net	8,150,057	8,509,971
Operating lease right-of-use assets	17,449,943	15,751,687
Intangible assets, net	3,265,015	3,585,919
Deferred income taxes	376,000	254,000
Other loans receivable	368,692	368,071
Other	523,088	471,991
Goodwill	5,796,528	5,796,528
TOTAL ASSETS	110,944,418	103,142,446
CURRENT LIABILITIES
Accounts payable	7,812,054	8,492,721
Accrued payroll	2,615,658	3,439,535
Current portion operating lease liabilities	5,751,495	5,111,429
Other current liabilities	1,240,286	1,403,249
Current portion long-term debt	827,916
Contract and other liabilities	819,414	774,625
TOTAL CURRENT LIABILITIES	19,066,823	19,221,559
LONG-TERM LIABILITIES
Notes payable, net of current portion	2,000,000	3,110,148
Operating lease liabilities, net of current portion	12,149,324	11,222,095
TOTAL LONG-TERM LIABILITIES	14,149,324	14,332,243
TOTAL LIABILITIES	33,216,147	33,553,802
COMMITMENTS AND CONTINGENCIES (Note 11)
WESTERN SHAREHOLDERS’ EQUITY
Common stock, $0.0001 par value, 12,500,000 shares authorized, 9,249,900 issued and outstanding as of June 30, 2021 and December 31, 2020 (as restated)	925	925
Additional paid-in capital	29,562,271	29,562,271
Retained earnings	46,312,508	38,470,323
TOTAL WESTERN SHAREHOLDERS’ EQUITY	75,875,704	68,033,519
Noncontrolling interests	1,852,567	1,555,125
TOTAL EQUITY	77,728,271	69,588,644
TOTAL LIABILITIES AND EQUITY	$ 110,944,418	$ 103,142,446

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Loans receivable, allowance for credit losses	$ 228,000	$ 315,000
Accounts receivable, allowance for credit losses	21,000	33,000
Inventory, allowance for losses	$ 1,487,000	$ 1,321,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	12,500,000	12,500,000
Common Stock, Shares, Issued	9,249,900	9,249,900
Common Stock, Shares, Outstanding	9,249,900	9,249,900

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
REVENUES
Total Revenues	$ 43,908,713	$ 45,786,188	$ 88,094,797	$ 81,433,714
COST OF REVENUES
Cost of sales	21,307,358	21,492,828	42,712,712	37,023,113
Provisions for loans receivable credit losses	(93,260)	(212,031)	(179,696)	79,397
Total Cost of Revenues	21,214,098	21,280,797	42,533,016	37,102,510
GROSS PROFIT	22,694,615	24,505,391	45,561,781	44,331,204
OPERATING EXPENSES
Salaries, wages and benefits	8,766,016	8,174,938	17,703,002	17,294,110
Occupancy	2,515,603	2,784,103	5,027,315	5,632,171
Advertising, marketing and development	1,993,997	2,131,362	4,436,188	4,067,787
Depreciation	390,722	492,910	788,670	994,300
Amortization	158,578	189,088	318,403	374,063
Other	2,336,799	3,592,487	4,789,268	6,153,410
Total Operating Expenses	16,161,715	17,364,888	33,062,846	34,515,841
OPERATING INCOME	6,532,900	7,140,503	12,498,935	9,815,363
OTHER INCOME (EXPENSES):
Dividend and interest income	10,848	71,720	41,502	210,447
Interest expense	(14,658)	(94,371)	(32,714)	(198,033)
Total Other Income (Expenses)	(3,810)	(22,651)	8,788	12,414
INCOME BEFORE INCOME TAXES	6,529,090	7,117,852	12,507,723	9,827,777
PROVISION FOR INCOME TAX EXPENSE	1,419,250	1,613,000	2,718,600	2,147,110
NET INCOME	5,109,840	5,504,852	9,789,123	7,680,667
LESS NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(714,871)	(453,904)	(1,484,442)	(916,472)
NET INCOME ATTRIBUTABLE TO WESTERN COMMON SHAREHOLDERS	$ 4,394,969	$ 5,050,948	$ 8,304,681	$ 6,764,195
EARNINGS PER SHARE ATTRIBUTABLE TO WESTERN COMMON SHAREHOLDERS
Basic	$ 0.48	$ 0.53	$ 0.90	$ 0.70
Diluted	$ 0.47	$ 0.53	$ 0.90	$ 0.70
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic	9,249,900	9,620,669	9,249,900	9,647,224
Diluted	9,256,604	9,620,669	9,257,378	9,647,224
Sales and Associated Fees [Member]
REVENUES
Total Revenues	$ 37,451,547	$ 39,533,865	$ 75,105,216	$ 68,392,096
Financing Fees and Interest [Member]
REVENUES
Total Revenues	880,126	1,172,099	1,882,596	3,216,796
Other Revenue [Member]
REVENUES
Total Revenues	$ 5,577,040	$ 5,080,224	$ 11,106,985	$ 9,824,822

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
BALANCE – December 31, 2019 (as restated) at Dec. 31, 2019	$ 968	$ 29,562,271	$ 33,706,035	$ 2,574,834	$ 65,844,108
Shares, Outstanding, Beginning Balance at Dec. 31, 2019	9,673,778
Net income			1,713,247	462,568	2,175,815
Distributions to noncontrolling interests				(45,000)	(45,000)
Dividends paid			(463,289)		(463,289)
BALANCE – June 30, 2020 at Mar. 31, 2020	$ 968	29,562,271	35,147,081	2,992,402	67,702,722
Shares, Outstanding, Ending Balance at Mar. 31, 2020	9,673,778
Plus pre-acquisition net loss of acquiree			191,088		191,088
BALANCE – December 31, 2019 (as restated) at Dec. 31, 2019	$ 968	29,562,271	33,706,035	2,574,834	65,844,108
Shares, Outstanding, Beginning Balance at Dec. 31, 2019	9,673,778
Net income					7,680,667
BALANCE – June 30, 2020 at Jun. 30, 2020	$ 954	29,562,271	38,982,780	2,366,704	70,912,709
Shares, Outstanding, Ending Balance at Jun. 30, 2020	9,542,889
BALANCE – December 31, 2019 (as restated) at Mar. 31, 2020	$ 968	29,562,271	35,147,081	2,992,402	67,702,722
Shares, Outstanding, Beginning Balance at Mar. 31, 2020	9,673,778
Net income			5,050,948	453,904	5,504,852
Distributions to noncontrolling interests				(1,079,602)	(1,079,602)
Dividends paid			(230,865)		(230,865)
BALANCE – June 30, 2020 at Jun. 30, 2020	$ 954	29,562,271	38,982,780	2,366,704	70,912,709
Shares, Outstanding, Ending Balance at Jun. 30, 2020	9,542,889
Less pre-acquisition net income of acquiree			(437,215)		(437,215)
Stock redemption	$ (14)		(547,169)		(547,183)
Stock Repurchased and Retired During Period, Shares	(130,889)
BALANCE – December 31, 2019 (as restated) at Dec. 31, 2020	$ 925	29,562,271	38,470,323	1,555,125	69,588,644
Shares, Outstanding, Beginning Balance at Dec. 31, 2020	9,249,900
Net income			3,909,712	769,571	4,679,283
Distributions to noncontrolling interests				(372,000)	(372,000)
Dividends paid			(231,248)		(231,248)
BALANCE – June 30, 2020 at Mar. 31, 2021	$ 925	29,562,271	42,148,787	1,952,696	73,664,679
Shares, Outstanding, Ending Balance at Mar. 31, 2021	9,249,900
BALANCE – December 31, 2019 (as restated) at Dec. 31, 2020	$ 925	29,562,271	38,470,323	1,555,125	69,588,644
Shares, Outstanding, Beginning Balance at Dec. 31, 2020	9,249,900
Net income					9,789,123
BALANCE – June 30, 2020 at Jun. 30, 2021	$ 925	29,562,271	46,312,508	1,852,567	77,728,271
Shares, Outstanding, Ending Balance at Jun. 30, 2021	9,249,900
BALANCE – December 31, 2019 (as restated) at Mar. 31, 2021	$ 925	29,562,271	42,148,787	1,952,696	73,664,679
Shares, Outstanding, Beginning Balance at Mar. 31, 2021	9,249,900
Net income			4,394,969	714,871	5,109,840
Distributions to noncontrolling interests				(815,000)	(815,000)
Dividends paid			(231,248)		(231,248)
BALANCE – June 30, 2020 at Jun. 30, 2021	$ 925	$ 29,562,271	$ 46,312,508	$ 1,852,567	$ 77,728,271
Shares, Outstanding, Ending Balance at Jun. 30, 2021	9,249,900

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
OPERATING ACTIVITIES
Net income	$ 9,789,123	$ 7,680,667
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	815,617	1,027,494
Amortization	318,403	374,063
Amortization of operating lease right-of-use assets	2,742,076	3,145,060
Deferred income taxes	(122,000)	(154,000)
Loss on disposal of assets	10,556	435,175
Accrued interest from investing activities	(4,669)	(30,293)
Changes in operating assets and liabilities:
Loans receivable	129,020	1,761,290
Accounts receivable	218,287	(1,318,833)
Inventory	(1,546,167)	1,560,953
Prepaid expenses and other assets	251,948	437,175
Operating lease liabilities	(3,187,596)	(3,561,231)
Accounts payable and accrued expenses	(1,144,341)	2,484,047
Contract and other liabilities	(173,820)	(92,353)
Net cash and cash equivalents provided by operating activities	8,096,437	13,749,214
INVESTING ACTIVITIES
Purchases of investments	(30,294,110)	(33,981,808)
Proceeds from investments	12,000,000	22,308,707
Purchases of property and equipment	(466,258)	(312,284)
Acquisition of stores, net of cash acquired		(510,876)
Advances on loans receivable		(3,184)
Proceeds from the disposal of operating assets	2,500	388,089
Net cash and cash equivalents used in investing activities	(18,757,868)	(12,111,356)
FINANCING ACTIVITIES
Advances on notes payable – long-term	1,258,475	662,959
Payments on notes payable – long-term	(1,527,161)	(1,561,738)
Payments on finance leases		(1,161)
Distributions to noncontrolling interests	(1,182,000)	(1,124,602)
Common stock redemptions		(547,183)
Payments of dividends	(462,496)	(694,154)
Net cash and cash equivalents used in financing activities	(1,913,182)	(3,265,879)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(12,574,613)	(1,628,021)
CASH AND CASH EQUIVALENTS
Beginning of period	32,504,803	27,160,991
End of period	19,930,190	25,532,970
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Income taxes paid	2,691,226	196,900
Interest paid	166,590	77,179
Noncash investing and financing activities:
Right-of-use assets obtained and operating lease obligations incurred	4,505,339	1,426,817
Right-of-use asset disposals		1,145,732
Right-of-use liability disposals		706,030
Noncurrent liability converted to long-term debt – related party	$ 2,500,000
Number of shares issued in transaction with entities under common control	408,000

Nature of Business

Nature of Business	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Nature of Business	1. 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”) ( 100 205 104 101 Direct to Consumer J&P Park Acquisitions, Inc. (“JPPA”) ( 100 J&P Real Estate, LLC (“JPRE”) ( 100 Manufacturing Swisher Acquisition, Inc. (“SAI”) ( 100 Consumer Finance Wyoming Financial Lenders, Inc. (“WFL”) ( 100 19 100 500 300 800 Express Pawn, Inc. (“EPI”) ( 100 three References in these financial statement notes to “Company,” “we” or “us” refer to Western Capital Resources, Inc. and its subsidiaries. References to specific companies within our enterprise, such as” “PQH,” “JPPA,” “JPRE,” “SAI,” “WFL,” or “EPI” are references only to those companies.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. 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. On January 8, 2021, we completed a merger with SAI (“Merger Transaction”). The Company issued 408,000 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, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. Management has analyzed the impact of the Coronavirus pandemic (“COVID-19”) on its financial statements as of June 30, 2021 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, 2020. 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 ASC 810, “Consolidation” applicable to reporting the equity and net income or loss attributable to noncontrolling interests. 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 various other assumptions believed to be reasonable under the circumstances. Actual results could differ from those estimates. Significant management estimates relate to the loans receivable allowance for credit losses, carrying value and impairment of goodwill, other long-lived assets, right-of-use assets and related liabilities (including the applicable discount rate), inventory valuation and obsolescence, estimated useful lives of intangible assets and property and equipment, gift certificate and merchandise credits liability and deferred taxes and tax uncertainties. Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, the Company considers all highly liquid investments with a maturity of three months or less at the time of purchase to be cash equivalents. Inventory Manufacturing Inventory is stated at the lower of cost or market. Cost for manufactured finished goods is determined using the standard cost method. Raw materials consist primarily of parts used to make products. Fabricated components consist of processed raw materials, capitalized labor and overhead. Finished goods consist of completed products, parts and accessories available for sale. An inventory valuation allowance is provided for excess, obsolete and slow-moving inventory. Earnings Per Common Share The Company computes basic earnings per common share (“EPS”) in accordance with ASC 260, “Earnings Per Share,” which is computed by dividing the income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS gives effect to all potentially dilutive common shares outstanding during the period, as calculated using the treasury stock method. In computing diluted EPS, the weighted average market price for the period is used in determining the number of common shares assumed to be purchased from the exercise of stock options. As of June 30, 2020, 65,000 Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which eliminates certain exceptions to the existing guidance for income taxes related to the approach for intra-period tax allocations, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. This ASU also simplifies the accounting for income taxes by clarifying and amending existing guidance related to the effects of enacted changes in tax laws or rates in the effective tax rate computation, the recognition of franchise tax and the evaluation of a step-up in the tax basis of goodwill, among other clarifications. ASU 2019-12 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The Company adopted ASU 2019-12 on January 1, 2021, the adoption of which did not have a material impact on its consolidated financial statements. 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, 2021
Risks and Uncertainties [Abstract]
Risks Inherent in the Operating Environment	3. Risks Inherent in the Operating Environment Supply Chain - Fluctuations in the availability and price of inputs could have an adverse effect on our ability to manufacture and sell our products profitably and could adversely affect our margins and revenue. Our manufacturing operations depend upon the adequate supply of steel, engines and other components of raw materials. Our direct-to-consumer operations depend upon an adequate supply of, among other things, seeds and live plants. Our inability to procure any of these production materials, components or finished goods, delays in receiving them or not being able to procure them at competitive prices, particularly during applicable peak seasons, could adversely impact our ability to produce our products and to sell our products on a cost effective basis which, in turn, could adversely affect our revenue and profitability. Our results of operations may be negatively impacted by product liability lawsuits. The Company’s Manufacturing segment is subject to potential product liability risks that relate to the design, manufacture, sale and use of our products. To date, we have not incurred material costs related to these product liability claims. While we believe our current general liability and product liability insurance is adequate to protect us from future product liability claims, there can be no assurance that our coverage will be adequate to cover all claims that may arise. Additionally, we may not be able to maintain insurance coverage in the future at an acceptable cost. Significant losses not covered by insurance or for which third-party indemnification is not available could have a material adverse effect on our business, financial condition, results of operations and cash flows. In addition, it may be necessary for us to recall products that do not meet approved specifications, which could result in adverse publicity as well as costs connected to the recall and loss of revenue. 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 2017 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. The CFPB’s studies projected a reduction in the number of lenders by 50%, while industry studies forecasted a much higher attrition rate if the rule is implemented as originally adopted. However, in January 2018, the CFPB issued a statement that it intended to “reconsider” the regulation. In July 2020, the CFPB issued a final rule applicable to the 2017 rule. The final rule rescinded the mandatory underwriting provisions of the 2017 rule but did 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 and further contraction of 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, additional state or local laws and regulations or changes in interpretations of them could, at any point, essentially prohibit the Consumer Finance segment from conducting its lending business in its current form. Any such legal or regulatory change would certainly have a material and adverse effect on the Company, its operating results, financial condition and prospects, and perhaps even the viability of the Consumer Finance segment.

Cash and Cash Equivalents and I

Cash and Cash Equivalents and Investments	6 Months Ended
	Jun. 30, 2021
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents and Investments	4. Cash and Cash Equivalents and Investments The following table shows the Company’s cash and cash equivalents, held-to-maturity investments, and other investments by significant investment category, recorded as cash and cash equivalents or short- and long-term investments: June 30, December 31, Cash and cash equivalents Operating accounts $ 15,672,782 $ 16,539,720 Money Market – U.S. Treasury obligations 4,257,408 2,565,296 U.S. Treasury obligations — 13,399,787 Subtotal 19,930,190 32,504,803 Investments Certificates of deposit ( 9 18 5,535,162 17,338,073 U.S. Treasury obligations (less than one year 30,041,893 — Subtotal 35,577,055 17,338,073 TOTAL $ 55,507,245 $ 49,842,876 Investments consisted of the following: June 30, 2021 Level 1 Level 2 Level 3 Amortized Cost Unrealized Loss Estimated Fair Value Certificates of deposit $ — $ 5,535,162 $ — $ 5,535,162 $ (316 ) $ 5,534,846 U.S. Treasury obligations 30,041,893 — — 30,041,893 (3,892 ) 30,038,001 $ 30,041,893 $ 5,535,162 $ — $ 35,577,055 $ (4,208 ) $ 35,572,847 December 31, 2020 Level 1 Level 2 Level 3 Amortized Cost Unrealized Gain (Loss) Estimated Fair Value Certificates of deposit $ — $ 17,338,073 $ — $ 17,338,073 $ (23,814 ) $ 17,314,259 U.S. Treasury obligations — — — — — — $ — $ 17,338,073 $ — $ 17,338,073 $ (23,814 ) $ 17,314,259 Interest income recognized on held-to-maturity investments and other sources was as follows: Three Months Ended Three Months Ended Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 Held-to-maturity $ 4,382 $ 3,796 $ 4,474 $ 66,770 Other 6,466 67,924 37,028 143,677 $ 10,848 $ 71,720 $ 41,502 $ 210,447 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, 2021, the Company had demand deposits in excess of insurance amounts of approximately $ 8.97 The Company has deposited in aggregate $ 2.79

Loans Receivable

Loans Receivable	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Loans Receivable	5. Loans Receivable The Consumer Finance segment’s outstanding loans receivable aging is as follows June 30, 2021 Payday Pawn Total Current $ 1,462,196 $ 269,869 $ 1,732,065 1-30 111,045 — 111,045 31-60 46,483 — 46,483 61-90 39,109 — 39,109 91-120 43,298 — 43,298 121-150 29,468 — 29,468 151-180 38,692 — 38,692 1,770,291 269,869 2,040,160 Less allowance for credit losses (228,000 ) — (228,000 ) $ 1,542,291 $ 269,869 $ 1,812,160 December 31, 2020 Payday Installment Pawn Total Current $ 1,558,292 $ 11,718 $ 272,669 $ 1,842,679 1-30 117,747 3,547 — 121,294 31-60 94,135 1,434 — 95,569 61-90 59,263 370 — 59,633 91-120 46,777 — — 46,777 121-150 38,422 — — 38,422 151-180 51,806 — — 51,806 1,966,442 17,069 272,669 2,256,180 Less allowance for credit losses (315,000 ) — — (315,000 ) $ 1,651,442 $ 17,069 $ 272,669 $ 1,941,180

Accounts Receivable

Accounts Receivable	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Accounts Receivable	6. Accounts Receivable A breakdown of accounts receivables by segment is as follows: June 30, 2021 Cellular Direct to Manufacturing Consumer Total Accounts receivable $ 251,822 $ 151,754 $ 918,529 $ 18,988 $ 1,341,090 Less allowance for credit losses — (6,000 ) (15,000 ) — (21,000 ) Net accounts receivable $ 251,822 $ 145,754 $ 903,526 $ 18,988 $ 1,320,090 December 31, 2020 Cellular Direct to Manufacturing Consumer Total Accounts receivable $ 325,041 $ 271,742 $ 920,712 $ 53,882 $ 1,571,377 Less allowance for credit losses — (18,000 ) (15,000 ) — (33,000 ) Net accounts receivable $ 325,041 $ 253,742 $ 905,712 $ 53,882 $ 1,538,377 A portion of accounts receivable are unsettled credit card sales from the prior one to five business days. Included in Accounts Receivable is $ 547,751 492,213

Inventory

Inventory	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Inventory	7. Inventory A breakdown of inventory is as follows June 30, 2021 Cellular Direct to Manufacturing Consumer Reserve Total Raw materials $ — $ — $ 1,813,117 $ — $ (329,000 ) $ 1,484,117 WIP — — 459,780 — — 459,780 Finished goods 5,497,580 4,238,736 1,975,377 787,805 (1,158,000 ) 11,341,498 Total $ 5,497,580 $ 4,238,736 $ 4,248,274 $ 787,805 $ (1,487,000 ) $ 13,285,395 December 31, 2020 Cellular Direct to Manufacturing Consumer Reserve Total Raw materials $ — $ — $ 1,620,157 $ — $ (311,000 ) $ 1,309,157 WIP — — 260,421 — — 260,421 Finished goods 5,405,993 3,433,460 1,603,282 736,915 (1,010,000 ) 10,169,650 Total $ 5,405,993 $ 3,433,460 $ 3,483,860 $ 736,915 $ (1,321,000 ) $ 11,739,228 Inventory write-downs have been reflected in adjustments to cost of goods sold in the Statements of Income. Management believes that these reductions properly reflect inventory values, and no additional losses will be incurred upon disposition.

Advertising, Marketing and Deve

Advertising, Marketing and Development	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Advertising, Marketing and Development	8. Advertising, Marketing and Development Prepaid direct-response advertising costs as of June 30, 2021 and December 31, 2020 were $ 0 0.48 million 1.48 million 1.77 million 3.44 million 3.43 million

Leases

Leases	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	9. Leases Total components of operating lease expense (in thousands) are as follows Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 Operating lease expense $ 1,681 $ 3,215 Variable lease expense 409 940 Total lease expense $ 2,090 $ 4,155 Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 Operating lease expense $ 1,775 $ 3,581 Variable lease expense 566 1,083 Total lease expense $ 2,341 $ 4,664 Other information related to operating leases was as follows June 30, 2021 December 31, Weighted average remaining lease term, in years 6.03 6.49 Weighted average discount rate 4.5 % 4.8 % Future minimum lease payments under operating leases as of June 30, 2021 (in thousands) are as follows Remainder of 2021 $ 3,345 2022 5,633 2023 3,767 2024 2,089 2025 1,032 Thereafter 4,371 Total future minimum lease payments 20,237 Less: imputed interest (2,336 ) Total $ 17,901 Current portion operating lease liabilities $ 5,752 Non-current operating lease liabilities 12,149 Total $ 17,901

Notes Payable _ Long Term

Notes Payable – Long Term	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Notes Payable – Long Term	10. Notes Payable – Long Term A breakdown of notes payable – long term is as follows: June 30, December 31, Bank revolving loan $ 577,916 $ — Subordinated loans – related parties — 596,602 Note payable – related party 2,250,000 2,513,546 Total 2,827,916 3,110,148 Less current maturities (827,916 ) — $ 2,000,000 $ 3,110,148 Future minimum long-term principal payments are as follows: Year 1 $ 827,916 Year 2 250,000 Year 3 250,000 Year 4 250,000 Year 5 250,000 Thereafter 1,000,000 Total future minimum lease payments $ 2,827,916 On October 22, 2010 SAI obtained a senior credit facility (“Revolving Loan”) with a bank. The Revolving Loan, as previously amended, had a credit limit of up to $ 4,500,000 LIBOR plus 4.5%(4.625% at June 30, 2021) October 21, 2021 On August 6, 2010 SAI executed secured subordinated promissory notes (“Subordinated Loans”) to borrow $ 1,350,000 16 December 31, 2023 596,602 123,572 922,178 SAI was party to a Management and Advisory Agreement dated August 6, 2010, as amended April 1, 2012, with Blackstreet Capital Management, LLC (“Blackstreet”) under which Blackstreet provides certain financial, managerial, strategic and operating advice and assistance. The agreement required SAI to pay Blackstreet a fee in an amount equal to the greater of (i) $ 250,000 2,513,546 13,546 2,500,000 250,000 unsecured and is guaranteed by the Company

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies 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.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue	12. Revenue Cellular Retail 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 and 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”). Compensation from Cricket Wireless for the three and six month periods ended June 30, 2021 and 2020 was $ 8.47 million 9.31 million 17.18 million 17.84 million 1.24 million 1.53 million Cellular Retail revenues are recognized per ASC 606, “Revenue Recognition” and consist of the following: ● Merchandise – merchandise sales, which exclude sales taxes, reflect 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 not material to our financial statements. Merchandise sales revenue, which included back-end compensation from Cricket Wireless, is recorded in Sales and associated fees in the income statement. ● Other revenue – services revenue from customer paid fees is 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. Direct to Consumer Direct to Consumer revenue is recognized per ASC 606 and consists of the following: ● Merchandise – merchandise sales, which exclude sales taxes, reflect the transaction price when product is shipped to customers, FOB shipping point, reduced by variable consideration. Shipping and handling fees are 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. Manufacturing Manufacturing revenue is recognized per ASC 606 and consists of the following: ● Merchandise – merchandise sales, which exclude sales taxes, reflect the transaction price when product is shipped to customers, FOB shipping point, or at point of sale and are reduced by variable consideration. Shipping and handling fees are not included in total net sales and are an offset to freight-out expense. Variable consideration is comprised of estimated future returns and warranty liability which are estimated based primarily on historical rates and sales levels. Consumer Finance Consumer Finance revenue from merchandise sales is recognized per ASC 606 and consists of the following: ● Merchandise – merchandise sales, which exclude sales taxes, reflects the transaction price at point of sale in our pawn stores when payment in full is received and the customer takes control of the merchandise. Sales returns are not material to our financial statements. ● Other revenue – services revenue from customer paid fees for ancillary services is recorded at point of sale when payment is received and the customer receives the benefit of the service. Consumer finance revenue from loan fees and interest is recognized per ASC 825 and consist of the following: ● Loan fees and interest – 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	6 Months Ended
	Jun. 30, 2021
Other Income and Expenses [Abstract]
Other Operating Expense	13. Other Operating Expense A breakout of other expense is as follows: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Bank fees $ 762,621 $ 863,918 $ 1,487,266 $ 1,472,593 Collection costs 78,341 79,406 150,624 157,475 Insurance 164,776 209,713 329,297 415,646 Management and advisory fees 230,068 317,261 454,839 625,222 Professional and consulting fees 321,681 302,448 753,359 707,601 Supplies 159,974 209,352 326,846 431,672 (Gain) loss on disposal (2,500 ) 666,759 10,556 657,422 Other 621,838 943,630 1,276,481 1,685,779 $ 2,336,799 $ 3,592,487 $ 4,789,268 $ 6,153,410

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segment Information	14. Segment Information Segment information related to the three and six month periods ended June 30, 2021 and 2020 (in thousands) is as follows Three Months Ended June 30, 2021 (in thousands) Cellular Direct to Manufacturing Consumer Corporate Total Revenue from external customers $ 25,294 $ 13,102 $ 4,202 $ 431 $ — $ 43,029 Fees and interest income $ — $ — $ — $ 880 $ — $ 880 Total revenue $ 25,294 $ 13,102 $ 4,202 $ 1,311 $ — $ 43,909 Net income (loss) $ 2,319 $ 2,509 $ 412 $ 127 $ (257 ) $ 5,110 Expenditures for segmented assets $ 119 $ 84 $ — $ 10 $ — $ 213 Three Months Ended June 30, 2020 Cellular Direct to Manufacturing Consumer Corporate Total Revenue from external customers $ 21,488 $ 16,340 $ 6,214 $ 572 $ — $ 44,614 Fees and interest income $ — $ — $ — $ 1,172 $ — $ 1,172 Total revenue $ 21,488 $ 16,340 $ 6,214 $ 1,744 $ — $ 45,786 Net income (loss) $ 1,534 $ 3,557 $ 437 $ 140 $ (163 ) $ 5,505 Expenditures for segmented assets $ 298 $ 81 $ 35 $ — $ — $ 414 Six Months Ended June 30, 2021 Cellular Direct to Manufacturing Consumer Corporate Total Revenue from external customers $ 50,805 $ 27,780 $ 6,724 $ 903 $ — $ 86,212 Fees and interest income $ — $ — $ — $ 1,883 $ — $ 1,883 Total revenue $ 50,805 $ 27,780 $ 6,724 $ 2,786 $ — $ 88,095 Net income (loss) $ 4,841 $ 4,779 $ 394 $ 288 $ (513 ) $ 9,789 Total segment assets $ 38,326 $ 13,576 $ 10,338 $ 6,738 $ 41,966 $ 110,944 Expenditures for segmented assets $ 310 $ 146 $ — $ 10 $ — $ 466 Six Months Ended June 30, 2020 Cellular Direct to Manufacturing Consumer Corporate Total Revenue from external customers $ 41,021 $ 27,939 $ 8,264 $ 993 $ — $ 78,217 Fees and interest income $ — $ — $ — $ 3,217 $ — $ 3,217 Total revenue $ 41,021 $ 27,939 $ 8,264 $ 4,210 $ — $ 81,434 Net income (loss) $ 2,719 $ 4,732 $ 246 $ 365 $ (381 ) $ 7,681 Total segment assets $ 35,980 $ 13,247 $ 11,611 $ 7,967 $ 38,876 $ 107,681 Expenditures for segmented assets $ 634 $ 199 $ 44 $ — $ — $ 877

Basic and Diluted Weighted Aver

Basic and Diluted Weighted Average Shares Outstanding	6 Months Ended
	Jun. 30, 2021
Basic And Diluted Weighted Average Shares Outstanding
Basic and Diluted Weighted Average Shares Outstanding	15. Basic and Diluted Weighted Average Shares Outstanding Following is the calculation of basic and diluted weighted average shares outstanding Three Months Ended: June 30, 2021 June 30, 2020 Weighted average shares outstanding - basic 9,249,900 9,212,669 Retroactive adjustment – shares issued January 8, 2021 — 408,000 Adjusted weighted average shares outstanding - basic 9,249,900 9,620,669 Dilutive common shares: Stock options (treasury method) 6,704 — Weighted average shares outstanding - diluted 9,256,604 9,620,669 Six Months Ended: June 30, 2021 June 30, 2020 Weighted average shares outstanding - basic 9,249,900 9,239,224 Retroactive adjustment – shares issued January 8, 2021 — 408,000 Adjusted weighted average shares outstanding - basic 9,249,900 9,647,224 Dilutive common shares: Stock options (treasury method) 7,478 — Weighted average shares outstanding - diluted 9,257,378 9,647,224

Dividends

Dividends	6 Months Ended
	Jun. 30, 2021
Dividends
Dividends	16. Dividends Our Board of Directors declared and paid the following dividends during the first and second quarters of 2021: Date Declared Record Date Dividend Per Share Payment Date Dividend Paid February 15, 2021 February 23, 2021 $0.025 March 5, 2021 $231,248 May 6, 2021 May 21, 2021 $0.025 June 4, 2021 $231,248

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Events Dividend Declared Our Board of Directors declared the following dividend after June 30, 2021: Date Declared Record Date Dividend Per Share Payment Date August 5, 2021 August 24, 2021 $0.025 September 3, 2021 Cellular Retail Asset Acquisition On August 11, 2021 25 5 We evaluated all events or transactions that occurred after June 30, 2021 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.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [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. On January 8, 2021, we completed a merger with SAI (“Merger Transaction”). The Company issued 408,000 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, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. Management has analyzed the impact of the Coronavirus pandemic (“COVID-19”) on its financial statements as of June 30, 2021 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, 2020.
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 ASC 810, “Consolidation” applicable to reporting the equity and net income or loss attributable to noncontrolling interests. 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 various other assumptions believed to be reasonable under the circumstances. Actual results could differ from those estimates. Significant management estimates relate to the loans receivable allowance for credit losses, carrying value and impairment of goodwill, other long-lived assets, right-of-use assets and related liabilities (including the applicable discount rate), inventory valuation and obsolescence, estimated useful lives of intangible assets and property and equipment, gift certificate and merchandise credits liability and deferred taxes and tax uncertainties.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, the Company considers all highly liquid investments with a maturity of three months or less at the time of purchase to be cash equivalents.
Inventory	Inventory Manufacturing Inventory is stated at the lower of cost or market. Cost for manufactured finished goods is determined using the standard cost method. Raw materials consist primarily of parts used to make products. Fabricated components consist of processed raw materials, capitalized labor and overhead. Finished goods consist of completed products, parts and accessories available for sale. An inventory valuation allowance is provided for excess, obsolete and slow-moving inventory.
Earnings Per Common Share	Earnings Per Common Share The Company computes basic earnings per common share (“EPS”) in accordance with ASC 260, “Earnings Per Share,” which is computed by dividing the income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS gives effect to all potentially dilutive common shares outstanding during the period, as calculated using the treasury stock method. In computing diluted EPS, the weighted average market price for the period is used in determining the number of common shares assumed to be purchased from the exercise of stock options. As of June 30, 2020, 65,000
Recent Accounting Pronouncements	Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which eliminates certain exceptions to the existing guidance for income taxes related to the approach for intra-period tax allocations, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. This ASU also simplifies the accounting for income taxes by clarifying and amending existing guidance related to the effects of enacted changes in tax laws or rates in the effective tax rate computation, the recognition of franchise tax and the evaluation of a step-up in the tax basis of goodwill, among other clarifications. ASU 2019-12 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The Company adopted ASU 2019-12 on January 1, 2021, the adoption of which did not have a material impact on its consolidated financial statements. 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 and Cash Equivalents and_2

Cash and Cash Equivalents and Investments (Tables)	6 Months Ended
	Jun. 30, 2021
Cash and Cash Equivalents [Abstract]
The following table shows the Company’s cash and cash equivalents, held-to-maturity investments, and other investments by significant investment category, recorded as cash and cash equivalents or short- and long-term investments:	The following table shows the Company’s cash and cash equivalents, held-to-maturity investments, and other investments by significant investment category, recorded as cash and cash equivalents or short- and long-term investments: June 30, December 31, Cash and cash equivalents Operating accounts $ 15,672,782 $ 16,539,720 Money Market – U.S. Treasury obligations 4,257,408 2,565,296 U.S. Treasury obligations — 13,399,787 Subtotal 19,930,190 32,504,803 Investments Certificates of deposit ( 9 18 5,535,162 17,338,073 U.S. Treasury obligations (less than one year 30,041,893 — Subtotal 35,577,055 17,338,073 TOTAL $ 55,507,245 $ 49,842,876
Investments consisted of the following:	Investments consisted of the following: June 30, 2021 Level 1 Level 2 Level 3 Amortized Cost Unrealized Loss Estimated Fair Value Certificates of deposit $ — $ 5,535,162 $ — $ 5,535,162 $ (316 ) $ 5,534,846 U.S. Treasury obligations 30,041,893 — — 30,041,893 (3,892 ) 30,038,001 $ 30,041,893 $ 5,535,162 $ — $ 35,577,055 $ (4,208 ) $ 35,572,847 December 31, 2020 Level 1 Level 2 Level 3 Amortized Cost Unrealized Gain (Loss) Estimated Fair Value Certificates of deposit $ — $ 17,338,073 $ — $ 17,338,073 $ (23,814 ) $ 17,314,259 U.S. Treasury obligations — — — — — — $ — $ 17,338,073 $ — $ 17,338,073 $ (23,814 ) $ 17,314,259
Interest income recognized on held-to-maturity investments and other sources was as follows:	Interest income recognized on held-to-maturity investments and other sources was as follows: Three Months Ended Three Months Ended Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 Held-to-maturity $ 4,382 $ 3,796 $ 4,474 $ 66,770 Other 6,466 67,924 37,028 143,677 $ 10,848 $ 71,720 $ 41,502 $ 210,447

Loans Receivable (Tables)

Loans Receivable (Tables)	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
The Consumer Finance segment’s outstanding loans receivable aging is as follows	The Consumer Finance segment’s outstanding loans receivable aging is as follows June 30, 2021 Payday Pawn Total Current $ 1,462,196 $ 269,869 $ 1,732,065 1-30 111,045 — 111,045 31-60 46,483 — 46,483 61-90 39,109 — 39,109 91-120 43,298 — 43,298 121-150 29,468 — 29,468 151-180 38,692 — 38,692 1,770,291 269,869 2,040,160 Less allowance for credit losses (228,000 ) — (228,000 ) $ 1,542,291 $ 269,869 $ 1,812,160 December 31, 2020 Payday Installment Pawn Total Current $ 1,558,292 $ 11,718 $ 272,669 $ 1,842,679 1-30 117,747 3,547 — 121,294 31-60 94,135 1,434 — 95,569 61-90 59,263 370 — 59,633 91-120 46,777 — — 46,777 121-150 38,422 — — 38,422 151-180 51,806 — — 51,806 1,966,442 17,069 272,669 2,256,180 Less allowance for credit losses (315,000 ) — — (315,000 ) $ 1,651,442 $ 17,069 $ 272,669 $ 1,941,180

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
A breakdown of accounts receivables by segment is as follows:	A breakdown of accounts receivables by segment is as follows: June 30, 2021 Cellular Direct to Manufacturing Consumer Total Accounts receivable $ 251,822 $ 151,754 $ 918,529 $ 18,988 $ 1,341,090 Less allowance for credit losses — (6,000 ) (15,000 ) — (21,000 ) Net accounts receivable $ 251,822 $ 145,754 $ 903,526 $ 18,988 $ 1,320,090 December 31, 2020 Cellular Direct to Manufacturing Consumer Total Accounts receivable $ 325,041 $ 271,742 $ 920,712 $ 53,882 $ 1,571,377 Less allowance for credit losses — (18,000 ) (15,000 ) — (33,000 ) Net accounts receivable $ 325,041 $ 253,742 $ 905,712 $ 53,882 $ 1,538,377

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
A breakdown of inventory is as follows	A breakdown of inventory is as follows June 30, 2021 Cellular Direct to Manufacturing Consumer Reserve Total Raw materials $ — $ — $ 1,813,117 $ — $ (329,000 ) $ 1,484,117 WIP — — 459,780 — — 459,780 Finished goods 5,497,580 4,238,736 1,975,377 787,805 (1,158,000 ) 11,341,498 Total $ 5,497,580 $ 4,238,736 $ 4,248,274 $ 787,805 $ (1,487,000 ) $ 13,285,395 December 31, 2020 Cellular Direct to Manufacturing Consumer Reserve Total Raw materials $ — $ — $ 1,620,157 $ — $ (311,000 ) $ 1,309,157 WIP — — 260,421 — — 260,421 Finished goods 5,405,993 3,433,460 1,603,282 736,915 (1,010,000 ) 10,169,650 Total $ 5,405,993 $ 3,433,460 $ 3,483,860 $ 736,915 $ (1,321,000 ) $ 11,739,228

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Total components of operating lease expense (in thousands) are as follows	Total components of operating lease expense (in thousands) are as follows Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 Operating lease expense $ 1,681 $ 3,215 Variable lease expense 409 940 Total lease expense $ 2,090 $ 4,155 Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 Operating lease expense $ 1,775 $ 3,581 Variable lease expense 566 1,083 Total lease expense $ 2,341 $ 4,664
Other information related to operating leases was as follows	Other information related to operating leases was as follows June 30, 2021 December 31, Weighted average remaining lease term, in years 6.03 6.49 Weighted average discount rate 4.5 % 4.8 %
Future minimum lease payments under operating leases as of June 30, 2021 (in thousands) are as follows	Future minimum lease payments under operating leases as of June 30, 2021 (in thousands) are as follows Remainder of 2021 $ 3,345 2022 5,633 2023 3,767 2024 2,089 2025 1,032 Thereafter 4,371 Total future minimum lease payments 20,237 Less: imputed interest (2,336 ) Total $ 17,901 Current portion operating lease liabilities $ 5,752 Non-current operating lease liabilities 12,149 Total $ 17,901

Notes Payable _ Long Term (Tabl

Notes Payable – Long Term (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
A breakdown of notes payable – long term is as follows:	A breakdown of notes payable – long term is as follows: June 30, December 31, Bank revolving loan $ 577,916 $ — Subordinated loans – related parties — 596,602 Note payable – related party 2,250,000 2,513,546 Total 2,827,916 3,110,148 Less current maturities (827,916 ) — $ 2,000,000 $ 3,110,148
Future minimum long-term principal payments are as follows:	Future minimum long-term principal payments are as follows: Year 1 $ 827,916 Year 2 250,000 Year 3 250,000 Year 4 250,000 Year 5 250,000 Thereafter 1,000,000 Total future minimum lease payments $ 2,827,916

Other Operating Expense (Tables

Other Operating Expense (Tables)	6 Months Ended
	Jun. 30, 2021
Other Income and Expenses [Abstract]
A breakout of other expense is as follows:	A breakout of other expense is as follows: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Bank fees $ 762,621 $ 863,918 $ 1,487,266 $ 1,472,593 Collection costs 78,341 79,406 150,624 157,475 Insurance 164,776 209,713 329,297 415,646 Management and advisory fees 230,068 317,261 454,839 625,222 Professional and consulting fees 321,681 302,448 753,359 707,601 Supplies 159,974 209,352 326,846 431,672 (Gain) loss on disposal (2,500 ) 666,759 10,556 657,422 Other 621,838 943,630 1,276,481 1,685,779 $ 2,336,799 $ 3,592,487 $ 4,789,268 $ 6,153,410

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segment information related to the three and six month periods ended June 30, 2021 and 2020 (in thousands) is as follows	Segment information related to the three and six month periods ended June 30, 2021 and 2020 (in thousands) is as follows Three Months Ended June 30, 2021 (in thousands) Cellular Direct to Manufacturing Consumer Corporate Total Revenue from external customers $ 25,294 $ 13,102 $ 4,202 $ 431 $ — $ 43,029 Fees and interest income $ — $ — $ — $ 880 $ — $ 880 Total revenue $ 25,294 $ 13,102 $ 4,202 $ 1,311 $ — $ 43,909 Net income (loss) $ 2,319 $ 2,509 $ 412 $ 127 $ (257 ) $ 5,110 Expenditures for segmented assets $ 119 $ 84 $ — $ 10 $ — $ 213 Three Months Ended June 30, 2020 Cellular Direct to Manufacturing Consumer Corporate Total Revenue from external customers $ 21,488 $ 16,340 $ 6,214 $ 572 $ — $ 44,614 Fees and interest income $ — $ — $ — $ 1,172 $ — $ 1,172 Total revenue $ 21,488 $ 16,340 $ 6,214 $ 1,744 $ — $ 45,786 Net income (loss) $ 1,534 $ 3,557 $ 437 $ 140 $ (163 ) $ 5,505 Expenditures for segmented assets $ 298 $ 81 $ 35 $ — $ — $ 414 Six Months Ended June 30, 2021 Cellular Direct to Manufacturing Consumer Corporate Total Revenue from external customers $ 50,805 $ 27,780 $ 6,724 $ 903 $ — $ 86,212 Fees and interest income $ — $ — $ — $ 1,883 $ — $ 1,883 Total revenue $ 50,805 $ 27,780 $ 6,724 $ 2,786 $ — $ 88,095 Net income (loss) $ 4,841 $ 4,779 $ 394 $ 288 $ (513 ) $ 9,789 Total segment assets $ 38,326 $ 13,576 $ 10,338 $ 6,738 $ 41,966 $ 110,944 Expenditures for segmented assets $ 310 $ 146 $ — $ 10 $ — $ 466 Six Months Ended June 30, 2020 Cellular Direct to Manufacturing Consumer Corporate Total Revenue from external customers $ 41,021 $ 27,939 $ 8,264 $ 993 $ — $ 78,217 Fees and interest income $ — $ — $ — $ 3,217 $ — $ 3,217 Total revenue $ 41,021 $ 27,939 $ 8,264 $ 4,210 $ — $ 81,434 Net income (loss) $ 2,719 $ 4,732 $ 246 $ 365 $ (381 ) $ 7,681 Total segment assets $ 35,980 $ 13,247 $ 11,611 $ 7,967 $ 38,876 $ 107,681 Expenditures for segmented assets $ 634 $ 199 $ 44 $ — $ — $ 877

Basic and Diluted Weighted Av_2

Basic and Diluted Weighted Average Shares Outstanding (Tables)	6 Months Ended
	Jun. 30, 2021
Basic And Diluted Weighted Average Shares Outstanding
Following is the calculation of basic and diluted weighted average shares outstanding	Following is the calculation of basic and diluted weighted average shares outstanding Three Months Ended: June 30, 2021 June 30, 2020 Weighted average shares outstanding - basic 9,249,900 9,212,669 Retroactive adjustment – shares issued January 8, 2021 — 408,000 Adjusted weighted average shares outstanding - basic 9,249,900 9,620,669 Dilutive common shares: Stock options (treasury method) 6,704 — Weighted average shares outstanding - diluted 9,256,604 9,620,669 Six Months Ended: June 30, 2021 June 30, 2020 Weighted average shares outstanding - basic 9,249,900 9,239,224 Retroactive adjustment – shares issued January 8, 2021 — 408,000 Adjusted weighted average shares outstanding - basic 9,249,900 9,647,224 Dilutive common shares: Stock options (treasury method) 7,478 — Weighted average shares outstanding - diluted 9,257,378 9,647,224

Dividends (Tables)

Dividends (Tables)	6 Months Ended
	Jun. 30, 2021
Dividends
Our Board of Directors declared and paid the following dividends during the first and second quarters of 2021:	Our Board of Directors declared and paid the following dividends during the first and second quarters of 2021: Date Declared Record Date Dividend Per Share Payment Date Dividend Paid February 15, 2021 February 23, 2021 $0.025 March 5, 2021 $231,248 May 6, 2021 May 21, 2021 $0.025 June 4, 2021 $231,248

Subsequent Events (Tables)

Subsequent Events (Tables)	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Our Board of Directors declared the following dividend after June 30, 2021:	Our Board of Directors declared the following dividend after June 30, 2021: Date Declared Record Date Dividend Per Share Payment Date August 5, 2021 August 24, 2021 $0.025 September 3, 2021

Nature of Business (Details Nar

Nature of Business (Details Narrative)	Jun. 30, 2021USD ($)Number
PQH Wireless, Inc. [Member]
Entity Listings [Line Items]
Percentage of equity method investment	100.00%
PQH Wireless, Inc. [Member] | Number of Stores [Member]
Entity Listings [Line Items]
Number of stores	205
PQH Wireless, Inc. [Member] | Number of Stores [Member] | 100% Owned [Member]
Entity Listings [Line Items]
Number of stores	104
PQH Wireless, Inc. [Member] | Number of Stores [Member] | Owned Less than 100% [Member]
Entity Listings [Line Items]
Number of stores	101
JPPA [Member] | Direct to Consumer [Member]
Entity Listings [Line Items]
Percentage of equity method investment	100.00%
JPRE [Member] | Direct to Consumer [Member] | J And P Real Estate L L C [Member]
Entity Listings [Line Items]
Percentage of equity method investment	100.00%
SAI [Member] | Manufacturing [Member] | Swisher Acquisition, Inc. [Member]
Entity Listings [Line Items]
Percentage of equity method investment	100.00%
W F L [Member] | Consumer Finance [Member]
Entity Listings [Line Items]
Percentage of equity method investment	100.00%
W F L [Member] | Consumer Finance [Member] | Wyoming Financial Lenders, Inc. [Member]
Entity Listings [Line Items]
Number of stores	19
W F L [Member] | Consumer Finance [Member] | Wyoming Financial Lenders, Inc. [Member] | Minimum [Member]
Entity Listings [Line Items]
Typical loan range amount | $	$ 100
W F L [Member] | Consumer Finance [Member] | Wyoming Financial Lenders, Inc. [Member] | Minimum [Member] | Installment [Member]
Entity Listings [Line Items]
Installment loans typically ranging | $	300
W F L [Member] | Consumer Finance [Member] | Wyoming Financial Lenders, Inc. [Member] | Maximum [Member]
Entity Listings [Line Items]
Typical loan range amount | $	500
W F L [Member] | Consumer Finance [Member] | Wyoming Financial Lenders, Inc. [Member] | Maximum [Member] | Installment [Member]
Entity Listings [Line Items]
Installment loans typically ranging | $	$ 800
E P I [Member] | Direct to Consumer [Member]
Entity Listings [Line Items]
Percentage of equity method investment	100.00%
E P I [Member] | Direct to Consumer [Member] | Express Pawn, Inc. [Member]
Entity Listings [Line Items]
Number of stores	3

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - shares	Jun. 30, 2021	Jan. 08, 2021	Dec. 31, 2020	Jun. 30, 2020
Acquired Indefinite-lived Intangible Assets [Line Items]
Number of common stock issued	9,249,900		9,249,900
Number of potential common shares equivalents from stock options				65,000
Swisher Acquisition, Inc. [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Number of common stock issued		408,000

Risks Inherent in the Operati_2

Risks Inherent in the Operating Environment (Details Narrative)	6 Months Ended
	Jun. 30, 2021
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 forecasted a much higher attrition rate if the rule is implemented as originally adopted.

The following table shows the C

The following table shows the Company’s cash and cash equivalents, held-to-maturity investments, and other investments by significant investment category, recorded as cash and cash equivalents or short- and long-term investments: (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 19,930,190		$ 32,504,803	$ 25,532,970	$ 27,160,991
Investments	35,577,055		17,338,073
Total	55,507,245	$ 49,842,876
Operating Accounts [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	15,672,782		16,539,720
Money Market Funds [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	4,257,408		2,565,296
US Treasury Securities [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents			13,399,787
Investments	$ 30,041,893
US Treasury Securities [Member] | Maximum [Member]
Cash and Cash Equivalents [Line Items]
Maturity terms	1 year
Certificates of Deposit [Member]
Cash and Cash Equivalents [Line Items]
Investments	$ 5,535,162		$ 17,338,073
Certificates of Deposit [Member] | Minimum [Member]
Cash and Cash Equivalents [Line Items]
Maturity terms	9 months
Certificates of Deposit [Member] | Maximum [Member]
Cash and Cash Equivalents [Line Items]
Maturity terms	18 months

Investments consisted of the fo

Investments consisted of the following: (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Line Items]
Amortized Cost	$ 35,577,055	$ 17,338,073
Unrealized Gain (Loss)	(4,208)	(23,814)
Estimated Fair Value	35,572,847	17,314,259
Fair Value, Inputs, Level 1 [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	30,041,893
Fair Value, Inputs, Level 2 [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	5,535,162	17,338,073
Fair Value, Inputs, Level 3 [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost
Certificates of Deposit [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	5,535,162	17,338,073
Unrealized Gain (Loss)	(316)	(23,814)
Estimated Fair Value	5,534,846	17,314,259
Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	5,535,162	17,338,073
Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost
US Treasury Securities [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	30,041,893
Unrealized Gain (Loss)	(3,892)
Estimated Fair Value	30,038,001
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	30,041,893
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost

Interest income recognized on h

Interest income recognized on held-to-maturity investments and other sources was as follows: (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Cash and Cash Equivalents [Abstract]
Held-to-maturity	$ 4,382	$ 3,796	$ 4,474	$ 66,770
Other	6,466	67,924	37,028	143,677
	$ 10,848	$ 71,720	$ 41,502	$ 210,447

Cash and Cash Equivalents and_3

Cash and Cash Equivalents and Investments (Details Narrative)	Jun. 30, 2021USD ($)
Cash and Cash Equivalents [Line Items]
Aggregate deposite	$ 2,790
Certificates of Deposit [Member]
Cash and Cash Equivalents [Line Items]
Demand deposits in excess of insurance amount	$ 8,970

The Consumer Finance segment_s

The Consumer Finance segment’s outstanding loans receivable aging is as follows (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	$ 2,040,160	$ 2,256,180
Less Allowance for Credit Losses	(228,000)	(315,000)
Notes, Loans and Financing Receivable, Net, current	1,812,160	1,941,180
Payday and Title Loans [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	1,770,291	1,966,442
Less Allowance for Credit Losses	(228,000)	(315,000)
Notes, Loans and Financing Receivable, Net, current	1,542,291	1,651,442
Pawn [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	269,869	272,669
Notes, Loans and Financing Receivable, Net, current	269,869	272,669
Installment [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current		17,069
Notes, Loans and Financing Receivable, Net, current		17,069
Current [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	1,732,065	1,842,679
Current [Member] | Payday and Title Loans [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	1,462,196	1,558,292
Current [Member] | Pawn [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	269,869	272,669
Current [Member] | Installment [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current		11,718
1 To 30 Days [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	111,045	121,294
1 To 30 Days [Member] | Payday and Title Loans [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	111,045	117,747
1 To 30 Days [Member] | Pawn [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current
1 To 30 Days [Member] | Installment [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current		3,547
31 to 60 Days [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	46,483	95,569
31 to 60 Days [Member] | Payday and Title Loans [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	46,483	94,135
31 to 60 Days [Member] | Pawn [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current
31 to 60 Days [Member] | Installment [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current		1,434
61 To 90 Days [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	39,109	59,633
61 To 90 Days [Member] | Payday and Title Loans [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	39,109	59,263
61 To 90 Days [Member] | Pawn [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current
61 To 90 Days [Member] | Installment [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current		370
91 To 120 Days [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	43,298	46,777
91 To 120 Days [Member] | Payday and Title Loans [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	43,298	46,777
91 To 120 Days [Member] | Pawn [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current
121 To 150 Days [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	29,468	38,422
121 To 150 Days [Member] | Payday and Title Loans [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	29,468	38,422
121 To 150 Days [Member] | Pawn [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current
151 To 180 Days [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	38,692	51,806
151 To 180 Days [Member] | Payday and Title Loans [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current	38,692	$ 51,806
151 To 180 Days [Member] | Pawn [Member]
Financing Receivable, Past Due [Line Items]
Notes, Loans and Financing Receivable, Gross, Current

A breakdown of accounts receiva

A breakdown of accounts receivables by segment is as follows: (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 1,341,090	$ 1,571,377
Less allowance for credit losses	(21,000)	(33,000)
Net accounts receivable	1,320,090	1,538,377
Cellular Retail [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	251,822	325,041
Less allowance for credit losses
Net accounts receivable	251,822	325,041
Direct to Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	151,754	271,742
Less allowance for credit losses	(6,000)	(18,000)
Net accounts receivable	145,754	253,742
Manufacturing [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	918,529	920,712
Less allowance for credit losses	(15,000)	(15,000)
Net accounts receivable	903,526	905,712
Consumer Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	18,988	53,882
Less allowance for credit losses
Net accounts receivable	$ 18,988	$ 53,882

Accounts Receivable (Details Na

Accounts Receivable (Details Narrative) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Receivables [Abstract]
Merchant accounts receivable	$ 547,751	$ 492,213

A breakdown of inventory is as

A breakdown of inventory is as follows (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Inventory [Line Items]
Raw materials	$ 1,484,117	$ 1,309,157
WIP	459,780	260,421
Finished goods	11,341,498	10,169,650
Total	13,285,395	11,739,228
Cellular Retail [Member]
Inventory [Line Items]
Raw materials
WIP
Finished goods	5,497,580	5,405,993
Total	5,497,580	5,405,993
Direct to Consumer [Member]
Inventory [Line Items]
Raw materials
WIP
Finished goods	4,238,736	3,433,460
Total	4,238,736	3,433,460
Manufacturing [Member]
Inventory [Line Items]
Raw materials	1,813,117	1,620,157
WIP	459,780	260,421
Finished goods	1,975,377	1,603,282
Total	4,248,274	3,483,860
Consumer Finance [Member]
Inventory [Line Items]
Raw materials
WIP
Finished goods	787,805	736,915
Total	787,805	736,915
Reserve [Member]
Inventory [Line Items]
Raw materials	(329,000)	(311,000)
WIP
Finished goods	(1,158,000)	(1,010,000)
Total	$ (1,487,000)	$ (1,321,000)

Advertising, Marketing and De_2

Advertising, Marketing and Development (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Accounting Policies [Abstract]
Prepaid direct-response advertising costs	$ 0		$ 0		$ 480,000
Advertising expenses	$ 1,480,000	$ 3,440,000	$ 1,770,000	$ 3,430,000

Total components of operating l

Total components of operating lease expense (in thousands) are as follows (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating lease expense	$ 1,681	$ 1,775	$ 3,215	$ 3,581
Variable lease expense	409	566	940	1,083
Total lease expense	$ 2,090	$ 2,341	$ 4,155	$ 4,664

Other information related to op

Other information related to operating leases was as follows (Details)	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	6 years 11 days	6 years 5 months 26 days
Weighted average discount rate	4.50%	4.80%

Future minimum lease payments u

Future minimum lease payments under operating leases as of June 30, 2021 (in thousands) are as follows (Details) $ in Thousands	Jun. 30, 2021USD ($)
Leases [Abstract]
Remainder of 2021	$ 3,345
2022	5,633
2023	3,767
2024	2,089
2025	1,032
Thereafter	4,371
Total future minimum lease payments	20,237
Less: imputed interest	(2,336)
Total	$ 17,901

A breakdown of notes payable _

A breakdown of notes payable – long term is as follows: (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total	$ 2,827,916	$ 3,110,148
Less current maturities	(827,916)
Notes payable, noncurrent	2,000,000	3,110,148
Bank Revolving Loan [Member]
Debt Instrument [Line Items]
Total	577,916
Subordinated Loans - Related Parties [Member]
Debt Instrument [Line Items]
Total		596,602
Note Payable - Related Party [Member]
Debt Instrument [Line Items]
Total	$ 2,250,000	$ 2,513,546

Future minimum long-term princi

Future minimum long-term principal payments are as follows: (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Year 1	$ 827,916
Year 2	250,000
Year 3	250,000
Year 4	250,000
Year 5	250,000
Thereafter	1,000,000
Total future minimum lease payments	$ 2,827,916	$ 3,110,148

Notes Payable _ Long Term (Deta

Notes Payable – Long Term (Details Narrative) - USD ($)	Jan. 08, 2021	Oct. 22, 2020	Aug. 06, 2010	Dec. 31, 2020
Line of Credit Facility [Line Items]
Debt instrument periodic payment principal	$ 250,000
Management and Advisory Agreement [Member]
Line of Credit Facility [Line Items]
Collateral	unsecured and is guaranteed by the Company
Swisher Acquisition, Inc. [Member] | Management And Advisory Agreement Membe [Member] | Blackstreet Capital Management, LLC [Member]
Line of Credit Facility [Line Items]
Base annual fee			$ 250,000
Accrued fees converted to note payable				$ 2,513,546
Accrued fees	$ 13,546
Remaining amount convertible into note payable	$ 2,500,000
Swisher Acquisition, Inc. [Member] | Subordinated Promissory Notes [Member]
Line of Credit Facility [Line Items]
Borrowing amount			$ 1,350,000
Interest rate			16.00%
Maturity date			Dec. 31, 2023
Extinguishment of debt principal payment amount			$ 596,602
Extinguishment of debt interest payment amount			123,572
Extiguishment of debt non cash payment amount			$ 922,178
Revolving Credit Facility [Member] | Swisher Acquisition, Inc. [Member]
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity		$ 4,500,000
Description of interest rate		LIBOR plus 4.5%(4.625% at June 30, 2021)
Maturity date		Oct. 21, 2021

Revenue (Details Narrative)

Revenue (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue from external customers	$ 43,029,000	$ 44,614,000	$ 86,212,000	$ 78,217,000
Cricket Wireless [Member]
Disaggregation of Revenue [Line Items]
Revenue from external customers	$ 8,470,000	9,310,000	$ 17,180,000	17,840,000
Compensation expense		$ 1,240,000		$ 1,530,000

A breakout of other expense is

A breakout of other expense is as follows: (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Other Income and Expenses [Abstract]
Bank fees	$ 762,621	$ 863,918	$ 1,487,266	$ 1,472,593
Collection costs	78,341	79,406	150,624	157,475
Insurance	164,776	209,713	329,297	415,646
Management and advisory fees	230,068	317,261	454,839	625,222
Professional and consulting fees	321,681	302,448	753,359	707,601
Supplies	159,974	209,352	326,846	431,672
(Gain) loss on disposal	(2,500)	666,759	10,556	657,422
Other	621,838	943,630	1,276,481	1,685,779
	$ 2,336,799	$ 3,592,487	$ 4,789,268	$ 6,153,410

Segment information related to

Segment information related to the three and six month periods ended June 30, 2021 and 2020 (in thousands) is as follows (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Revenue from external customers	$ 43,029,000		$ 44,614,000		$ 86,212,000	$ 78,217,000
Fees and interest income	880,000		1,172,000		1,883,000	3,217,000
Total revenue	43,908,713		45,786,188		88,094,797	81,433,714
Net income (loss)	5,109,840	$ 4,679,283	5,504,852	$ 2,175,815	9,789,123	7,680,667
Expenditures for segmented assets	213,000		414,000		466,000	877,000
Total segment assets	110,944,418		107,681,000		110,944,418	107,681,000	$ 103,142,446
Cellular Retail [Member]
Segment Reporting Information [Line Items]
Revenue from external customers	25,294,000		21,488,000		50,805,000	41,021,000
Fees and interest income
Total revenue	25,294,000		21,488,000		50,805,000	41,021,000
Net income (loss)	2,319,000		1,534,000		4,841,000	2,719,000
Expenditures for segmented assets	119,000		298,000		310,000	634,000
Total segment assets	38,326,000		35,980,000		38,326,000	35,980,000
Direct to Consumer [Member]
Segment Reporting Information [Line Items]
Revenue from external customers	13,102,000		16,340,000		27,780,000	27,939,000
Fees and interest income
Total revenue	13,102,000		16,340,000		27,780,000	27,939,000
Net income (loss)	2,509,000		3,557,000		4,779,000	4,732,000
Expenditures for segmented assets	84,000		81,000		146,000	199,000
Total segment assets	13,576,000		13,247,000		13,576,000	13,247,000
Manufacturing [Member]
Segment Reporting Information [Line Items]
Revenue from external customers	4,202,000		6,214,000		6,724,000	8,264,000
Fees and interest income
Total revenue	4,202,000		6,214,000		6,724,000	8,264,000
Net income (loss)	412,000		437,000		394,000	246,000
Expenditures for segmented assets			35,000			44,000
Total segment assets	10,338,000		11,611,000		10,338,000	11,611,000
Consumer Finance [Member]
Segment Reporting Information [Line Items]
Revenue from external customers	431,000		572,000		903,000	993,000
Fees and interest income	880,000		1,172,000		1,883,000	3,217,000
Total revenue	1,311,000		1,744,000		2,786,000	4,210,000
Net income (loss)	127,000		140,000		288,000	365,000
Expenditures for segmented assets	10,000				10,000
Total segment assets	6,738,000		7,967,000		6,738,000	7,967,000
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Revenue from external customers
Fees and interest income
Total revenue
Net income (loss)	(257,000)		(163,000)		(513,000)	(381,000)
Expenditures for segmented assets
Total segment assets	$ 41,966,000		$ 38,876,000		$ 41,966,000	$ 38,876,000

Following is the calculation of

Following is the calculation of basic and diluted weighted average shares outstanding (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Basic And Diluted Weighted Average Shares Outstanding
Weighted average shares outstanding - basic	9,249,900	9,212,669	9,249,900	9,239,224
Retroactive adjustment – shares issued January 8, 2021		408,000		408,000
Adjusted weighted average shares outstanding - basic	9,249,900	9,620,669	9,249,900	9,647,224
Dilutive common shares:
Stock options (treasury method)	6,704		7,478
Weighted average shares outstanding - diluted	9,256,604	9,620,669	9,257,378	9,647,224

Our Board of Directors declared

Our Board of Directors declared and paid the following dividends during the first and second quarters of 2021: (Details) - USD ($)	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020
Dividends Payable [Line Items]
Dividend Paid	$ 231,248	$ 231,248	$ 230,865	$ 463,289
Dividends One [Member]
Dividends Payable [Line Items]
Date Declared	May 6, 2021	Feb. 15, 2021
Record Date	May 21, 2021	Feb. 23, 2021
Dividend Per Share	$ 0.025	$ 0.025
Payment Date	Jun. 4, 2021	Mar. 5, 2021
Dividend Paid	$ 231,248	$ 231,248

Our Board of Directors declar_2

Our Board of Directors declared the following dividend after June 30, 2021: (Details) - Subsequent Event [Member] - Dividend Three [Member]	6 Months Ended
	Jun. 30, 2021$ / shares
Subsequent Event [Line Items]
Date Declared	Aug. 5, 2021
Record Date	Aug. 24, 2021
Dividend Per Share	$ 0.025
Payment Date	Sep. 3, 2021

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - Subsequent Event [Member] - Cellular Retail [Member] - Asset Purchase Agreement [Member] - AA Service Group, LLC and Affiliates [Member]	Aug. 11, 2021USD ($)Number
Subsequent Event [Line Items]
Asset acquisition date	Aug. 11, 2021
Number of stores | Number	25
Asset acquisition price | $	$ 5,000,000