LM Funding America (LMFA) 10-K 31 Mar 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Mar. 15, 2021	Jun. 28, 2020
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Trading Symbol	LMFA
Entity Registrant Name	LM FUNDING AMERICA, INC.
Entity Central Index Key	0001640384
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		26,982,980
Entity Public Float			$ 6,943,000
Entity Interactive Data Current	Yes
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common Stock par value $0.001 per share
Entity File Number	001-37605
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-3844457
Entity Address, Address Line One	1200 Platt Street
Entity Address, Address Line Two	Suite 1000
Entity Address, City or Town	Tampa
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33602
City Area Code	813
Local Phone Number	222-8996
Document Annual Report	true
Document Transition Report	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash	$ 11,552,943	$ 822,909
Finance receivables:
Original product (Note 2)	116,017	273,711
Special product - New Neighbor Guaranty program, net of allowance for credit losses of (Note 3)	52,757	129,272
Due from related party (Note 11)		125,045
Prepaid expenses and other assets	399,124	145,267
Discontinued operations - current assets		276,953
Current assets	12,120,841	1,773,157
Fixed assets, net	6,171	8,288
Real estate assets owned (Note 5)	18,767	21,084
Operating lease - right of use assets (Note 8)	160,667	260,260
Other assets	10,984	11,021
Other investments - related party receivable		1,500,000
Goodwill (Note 6)		4,039,586
Discontinued operations - long-term assets		27,245
Long-term assets	196,589	5,867,484
Total assets	12,317,430	7,640,641
Liabilities and stockholders' equity
Note payable (Note 7)		69,540
Related party convertible note payable (Note 7)		3,461,782
Accounts payable and accrued expenses	237,033	210,870
Due to related party payable (Note 11)	158,399
Current portion of lease liability - short-term (Note 8)	96,257	94,235
Discontinued operations - current liabilities		280,057
Current liabilities	491,689	4,116,484
Notes payable - long-term (Note 7)	185,785
Lease liability - long-term (Note 8)	171,648	171,648
Discontinued operations - long-term liabilities		517,584
Long-term liabilities	357,433	689,232
Total liabilities	849,122	4,805,716
Stockholders' equity (Note 10)
Preferred stock, par value $.001; 5,000,000 shares authorized; no shares issued and outstanding as of December 31, 2020 and December 31, 2019, respectively
Common stock, par value $.001; 30,000,000 shares authorized; 15,418,801 and 3,134,261 shares issued and outstanding as of December 31, 2020 and December 31, 2019, respectively	15,419	3,134
Additional paid-in capital	29,983,922	17,326,553
Accumulated deficit	(18,536,224)	(14,494,762)
Total LMF Acquisition Opportunities stockholders' equity	11,463,117	2,834,925
Minority interest in subsidiary	5,191
Total stockholders' equity	11,468,308	2,834,925
Total liabilities and stockholders’ equity	$ 12,317,430	$ 7,640,641

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred Stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	30,000,000	30,000,000
Common stock, shares issued	15,418,801	3,134,261
Common stock, shares outstanding	15,418,801	3,134,261

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenues
Interest on delinquent association fees	$ 623,790	$ 1,510,237
Administrative and late fees	101,993	145,295
Recoveries in excess of cost - special product	214,558	97,361
Underwriting fees and other revenues	116,430	215,068
Rental revenue	206,831	417,612
Total revenues	1,263,602	2,385,573
Operating expenses
Professional fees	1,799,595	1,665,371
Settlement costs with associations	31,885	68,188
Selling, general and administrative	351,234	203,158
Real estate management and disposal	211,288	460,978
Depreciation and amortization	16,930	57,273
Collection costs	(29,932)	(17,893)
Recovery of cost from related party receivable	(500,000)	(190,000)
Provision for credit losses	50,800	266
Impairment of goodwill		1,650,000
Other operating	17,778	229,873
Total operating expenses	5,315,612	5,368,909
Operating loss from continuing operations	(4,052,010)	(2,983,336)
Gain on disposal of assets		(6,421)
Interest expense	7,189	102,842
Total other expenses	7,189	96,421
Loss from continuing operations before income taxes	(4,059,199)	(3,079,757)
Net loss from continuing operations	(4,059,199)	(3,079,757)
Gain from operations of discontinued operations		74,879
Gain on disposal of discontinued operations	16,428
Net loss	(4,042,771)	(3,004,878)
Losses attributable to non-controlling interest	(1,309)
Net loss attributable to LM Funding America Inc.	$ (4,041,462)	$ (3,004,878)
Basic loss per common share continuing operations	$ (0.50)	$ (0.98)
Basic earnings per common share discontinuing operations	0	0.02
Basic loss per common share	(0.50)	(0.96)
Diluted loss per common share continuing operations	(0.50)	(0.98)
Diluted earnings per common share discontinuing operations	0	0.02
Diluted loss per common share	$ (0.50)	$ (0.96)
Weighted average number of common shares outstanding
Basic	8,114,554	3,133,689
Diluted	8,114,554	3,133,689
Service [Member]
Operating expenses
Staff costs & payroll	$ 3,366,034	$ 1,241,695

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Total	Registered Public Offering [Member]	Common Stock [Member]	Common Stock [Member]Registered Public Offering [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member]Registered Public Offering [Member]	Accumulated Deficit [Member]	Non-Controlling Interest [Member]
Balance at Dec. 31, 2018	$ 5,808,649		$ 3,125		$ 17,295,408		$ (11,489,884)
Balance, shares at Dec. 31, 2018			3,124,961
Stock issued for warrants exercised	22,320		$ 9		22,311
Stock issued for warrants exercised, shares			9,300
Stock option expense	8,834				8,834
Net loss	(3,004,878)						(3,004,878)
Balance at Dec. 31, 2019	2,834,925		$ 3,134		17,326,553		(14,494,762)
Balance, shares at Dec. 31, 2019			3,134,261
Stock issued for services	125,450		$ 186		125,264
Stock issued for services, shares			186,000
Stock issued for warrants exercised	3,081,730		$ 1,378		3,080,352
Stock issued for warrants exercised, shares			1,377,702
Stock option expense	14,939				14,939
Stock issued for cash	1,250,000	$ 8,197,535	$ 521	$ 10,200	1,249,479	$ 8,187,335
Stock issued for cash, shares			520,838	10,200,000
Stock issued for cash in non-controlling interest	6,500							$ 6,500
Net loss	(4,042,771)						(4,041,462)	(1,309)
Balance at Dec. 31, 2020	$ 11,468,308		$ 15,419		$ 29,983,922		$ (18,536,224)	$ 5,191
Balance, shares at Dec. 31, 2020			15,418,801

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss attributable to LM Funding America Inc.	$ (4,041,462)	$ (3,004,878)
Adjustments to reconcile net loss to cash used in operating activities
Depreciation and amortization	11,143	63,760
Right to use asset expense	99,593	51,809
Stock compensation	125,450
Stock option expense	14,939	8,834
Goodwill impairment		1,650,000
Recovery of reserve from related party receivable	(300,000)	(190,000)
Reserve for units	30,000
Gain on termination of operating lease		(1,421)
Gain on sale of fixed assets	(16,428)	(5,000)
Change in operating assets and liabilities:
Prepaid expenses and other assets	(61,303)	176,093
Advances (repayments) to related party	583,444	62,724
Accounts payable and accrued expenses	126,950	85,045
Other liabilities and obligations		1,463
Lease liability payments	(94,235)	(44,765)
Deferred taxes		(14,200)
Net cash used in operating activities	(3,521,909)	(1,160,536)
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash paid to purchase fixed assets	(1,286)	(14,049)
Net cash received from business acquisition	(246,914)	51,327
Cash received from (invested in) investment in note receivable - related party	1,500,000	(1,500,000)
Cash received from sale of fixed assets		5,000
(Payments)/proceeds for real estate assets owned	(5,423)	80,076
Net cash used in investing activities	1,450,586	(1,118,574)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings	185,785
Principal repayments	(165,798)	(194,140)
Exercise of warrants	3,081,730	22,320
Proceeds from subscription	9,447,535
Investment in subsidiary	6,500
Net cash (used in) provided by financing activities	12,555,752	(171,820)
NET (DECREASE) INCREASE IN CASH	10,484,429	(2,450,930)
CASH - BEGINNING OF YEAR	1,069,823	3,520,753
CASH - END OF YEAR	11,554,252	1,069,823
SUPPLEMENTAL DISCLOSURES OF CASHFLOW INFORMATION
Cash paid for interest	7,189	41,374
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Insurance financing	192,514	127,490
Financing loan for purchase of fixed asset		12,892
ROU asset obligation recognized		331,477
Original Product [Member]
CASH FLOWS FROM INVESTING ACTIVITIES:
Net collections of finance receivables	127,694	151,301
Special Product [Member]
CASH FLOWS FROM INVESTING ACTIVITIES:
Net collections of finance receivables	$ 76,515	$ 107,771

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1. Summary of Significant Accounting Policies Nature of Operations LM Funding America, Inc. (“LMFA” or the “Company”) was formed as a Delaware corporation on April 20, 2015. LMFA was formed for the purpose of completing a public offering and related transactions in order to carry on the business of LM Funding, LLC and its subsidiaries (the “Predecessor”). LMFA is the sole member of LM Funding, LLC and operates and controls all of its businesses and affairs. LM Funding, LLC a Florida limited liability company organized in January 2008 under the terms of an Operating Agreement dated effective January 8, 2008 as amended, had two members: BRR Holding, LLC and CGR 63, LLC. The members contributed their equity interest to LMFA prior to the closing of its initial public offering. The Company acquired IIU, Inc. on January 16, 2019 (“IIU”), which provided global medical insurance products for international travelers, specializing in policies covering high-risk destinations, emerging markets and foreign travelers coming to the United States. All policies were fully underwritten with no claim risk remaining with IIU. IIU was disposed of on January 8, 2020. The Company created two subsidiaries, LMFA Financing LLC on November 21, 2020 and LMFAO Sponsor LLC on October 29, 2020. LMFAO Sponsor LLC created a majority owned subsidiary LMF Acquisition Opportunities Inc. on October 29, 2020. On January 8, 2020, the Company entered into a Stock Purchase Agreement (the “Craven SPA LMFA 4,969,200 During 2019, we were a diversified business with two focuses: • specialty finance company that provides funding to nonprofit community associations primarily located in the state of Florida. We offer incorporated nonprofit community associations, which we refer to as “Associations,” a variety of financial products customized to each Association’s financial needs. Our original product offering consists of providing funding to Associations by purchasing their rights under delinquent accounts that are selected by the Associations arising from unpaid Association assessments. Historically, we provided funding against such delinquent accounts, which we refer to as “Accounts,” in exchange for a portion of the proceeds collected by the Associations from the Account debtors on the Accounts. We have started purchasing Accounts on varying terms tailored to suit each Association’s financial needs, including under our New Neighbor Guaranty™ program. • Travel insurance brokerage company provides global medical insurance products for international travelers through IIU, specializing in policies covering high-risk destinations, emerging markets and foreign travelers coming to the United States. These operations were discontinued on January 16, 2020. During 2020, we begin exploring other specialty finance business opportunities that are complementary to or that can leverage our historical business. Specialty Finance The Company provides funding principally to Associations that are almost exclusively located in Florida. The business of the Company is conducted pursuant to relevant state statutes (the “Statutes”), principally Florida Statute 718.116. The Statutes provide each Association lien rights to secure payment from unit owners (property owners) for assessments, interest, administrative late fees, reasonable attorneys’ fees, and collection costs. In addition, the lien rights granted under the Statutes are given a higher priority (a “Super Lien”) than all other lien holders except property tax liens. The Company provides funding to Associations for their delinquent assessments from property owners in exchange for an assignment of the Association’s right to collect proceeds pursuant to the Statutes. The Company derives its revenues from the proceeds of Association collections. The Statutes specify that the rate of interest an Association (or its assignor) may charge on delinquent assessments is equal to the rate set forth in the Association’s declaration or bylaws. In Florida if a rate is not specified, the statutory rate is equal to 18% but may not exceed the maximum rate allowed by law. Similarly, the Statutes in Florida also stipulate that administrative late fees cannot be charged on delinquent assessments unless so provided by the Association’s declaration or bylaws and may not exceed the greater of $25 or 5% of each delinquent assessment. The Statutes limit the liability of a first mortgage holder for unpaid assessments and related charges and fees (as set forth above) in the event of title transfer by foreclosure or acceptance of deed in lieu of foreclosure. This liability is limited to the lesser of twelve months of regular periodic assessments or one percent of the original mortgage debt on the unit (the “Super Lien Amount”). Recent Developments IIU Acquisition and Disposal On November 2, 2018, the Company invested cash by purchasing a Senior Convertible Promissory Note in the original principal amount of $1,500,000 (the “IIU Note”) from IIU, a synergistic Virginia based travel insurance brokerage company controlled by Craven House North America, LLC (“Craven”) N.A., (whose ownership excluding unexercised warrants was approximately 20% of the Company’s outstanding stock at the time of the acquisition). The maturity date of the IIU Note was 360 dates after the date of issuance (subject to acceleration upon an event of default). The IIU Note carried a 3.0% interest rate, with accrued but unpaid interest being payable on the IIU Note’s maturity date. On January 16, 2019, the Company entered into a Stock Purchase Agreement with Craven (the “IIU SPA”) to purchase all of the outstanding capital stock of IIU as a possible synergistic effort to diversify revenue sources that were believed to be accretive to earnings. IIU provided global medical insurance products for international travelers, specializing in policies covering high-risk destinations, emerging markets and foreign travelers coming to the United States. All policies were fully underwritten with no claim risk remaining with IIU. On January 8, 2020, the Company entered into a Stock Purchase Agreement (“ SPA sold back to Craven all of the issued and outstanding shares of IIU for $3,562,569. The purchase price was paid by Craven through the cancellation of the $3,461,782 Craven Convertible Note plus forgiveness of $100,787 of accrued interest. The Company originally paid $4,969,200 for the purchase of IIU in January 2019, which included a negative $720,386 net fair value of assets and $5,689,586 of goodwill. As a result, goodwill was impaired by $1.65 million. The sale of IIU resulted in a gain of $16,428 Specialty Health Insurance Our former subsidiary IIU through its wholly owned company Wallach and Company (“Wallach”) offers health insurance, travel insurance and other travel services to: • United States citizens and residents traveling abroad • Non United States citizens or residents who travel to the United States These services are typically sold through a policy offered by Wallach and fully underwritten by a third party insurance company. The policies offered include: • HealthCare Abroad - Short term medical insurance, medical evacuation and international assistance for Americans traveling overseas. There is an age limit of 84 years old. • HealthCare Global – up to 6 months coverage for Americans traveling abroad and foreign nationals traveling outside their home countries to destinations other than the United States. There is an age limit of 70 years old. • HealthCare America – up to 90 days coverage for foreign nationals visiting the United States. There is an age limit of 70 years old. • HealthCare International – International medical insurance & assistance for persons living outside their home country. There is an age limit of 70 years old. • HealthCare War – up to 6 months coverage for Americans traveling abroad and foreign nationals traveling outside their home countries to identified war risk areas. There is an age limit of 70 years old. As such, IIU is considered a discontinued operation. We did not report any activity from operations from IIU for the twelve months ended December 31, 2020. Entry into and Termination of Hanfor Share Exchange Agreement On March 23, 2020, the Company entered into a Share Exchange Agreement, dated March 23, 2020 (the “Share Exchange Agreement”), with Hanfor (Cayman) Limited, a Cayman Islands exempted company (“Hanfor”), and BZ Industrial Limited, a British Virgin Islands business company and the sole stockholder of Hanfor (“Hanfor Owner”). The Share Exchange Agreement contemplated a business combination transaction in which Hanfor Owner would transfer and assign to the Company all of the share capital of Hanfor in exchange for a number of shares of the Company’s common stock that would result in Hanfor Owner owning 86.5% of the outstanding common stock of the Company. Under the agreement, Hanfor Owner was required to deliver to the Company audited financial statements for Hanfor for the 2019 and 2018 fiscal years, and such audited financial statements were required to be delivered by May 31, 2020 (subject to extension to June 30, 2020 under specified circumstances). In connection with the execution of the Share Exchange Agreement, the Company and Hanfor Owner entered into a Stock Purchase Agreement, dated March 23, 2020, pursuant to which Hanfor Owner purchased from the Company an aggregate of 520,838 shares of the Company’s common stock at a price of $2.40 per share. Hanfor Owner paid $250,000 cash on March 23, 2020 and the Company received an additional $1,000,000 in April 2020 at which time the Company issued the 520,838 shares. On July 14, 2020, the Company notified Hanfor and Hanfor Owner that the Company had elected to terminate the Share Exchange Agreement due to Hanfor’s inability to provide audited financial statements by June 30, 2020. Although the Company believes that it properly terminated the Share Exchange Agreement, on July 21, 2020, former counsel to Hanfor Owner informed the Company that Hanfor Owner believes that the Company’s termination of the Share Exchange Agreement was not effected in accordance with the terms of the Share Exchange Agreement. In addition, on October 23, 2020, an amended Schedule 13D was filed by Xueyuan Han, the principal owner of Hanfor, with respect to his beneficial ownership of shares of common stock of the Company. In the amended Schedule 13D, Mr. Han alleged, among other things, that the Company misinterpreted the termination provisions of the Share Exchange Agreement, that Hanfor is still within a cure period under the Share Exchange Agreement, and that Hanfor was purporting to appoint a director to the Company’s Board of Directors. Following the filing of the amended Schedule 13D, the Company continues to believe that its termination of the Share Exchange Agreement was proper because, among other reasons, the failure of Hanfor to provide audited financial statements by June 30, 2020, was an uncurable default under the Share Exchange Agreement. Furthermore, the Company was informed by Hanfor prior to such termination that Hanfor would be unable to provide audited financial statements for Hanfor for the foreseeable future because of ongoing legal issues in China. As a result, the Company believes that the purported appointment of Mr. Han to the Company’s Board of Directors was improper and therefore took no action in response to the Schedule 13D. On January 11, 2021, the Company received a letter from newly engaged outside counsel to Hanfor and Hanfor Owner alleging that the Company’s termination of the Share Exchange Agreement constituted a breach of contract and/or was invalid and further alleging breach of fiduciary duty by the Company’s Chief Executive Officer and Chief Financial Officer. Such letter demanded $1,250,000 (the amount of Hanfor Owner’s investment in common stock of the Company) plus interest and threatened legal action against the Company and the Company’s Chief Executive Officer and Chief Financial Officer. Following the receipt of that letter, on or around January 27, 2021, the Company assisted Hanfor Owner with the removal of the restrictive legend from the shares of Company common stock owned by Hanfor Owner in accordance with SEC Rule 144 to enable the sale thereof by Hanfor Owner, at which time Hanfor Owner’s counsel indicated in writing that Hanfor Owner may have remaining damages. However, there have been no further communications from Hanfor, Hanfor Owner, or their counsel subsequent to the communications that occurred on or around January 27, 2021. Nasdaq Listing On March 27, 2020, the Company received a notification letter from the Nasdaq Listing Qualifications department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company has not regained compliance with Nasdaq Continued Listing Rule 5550(a)(2), which requires the Company’s listed securities to maintain a minimum bid price of $1.00 per share (the "Minimum Bid Price Rule"). The notification stated that the Company’s securities would be delisted from the Nasdaq Capital Market on April 7, 2020 unless the Company timely requested a hearing before a Nasdaq Hearing Panel. The Company has timely requested a hearing. However, on April 16, 2020, Nasdaq suspended any enforcement actions relating to bid price issues through June 30, 2020. On July 1, 2020, the Company received a letter from Nasdaq stating that the Company regained compliance with the Minimum Bid Price Rule because the closing price for the Company’s common stock was $1.00 per share or greater for ten (10) consecutive business days. Additionally, on January 3, 2020, the Company received a deficiency letter from Nasdaq, indicating that it was in violation of Listing Rules 5620(a) and 5810(c)(2)(G) by virtue of passing the applicable deadline for holding of its annual general meeting of shareholders for the financial year ended December 31, 2018. The Company resolved this issue by having its annual general meeting of shareholders on May 11, 2020. On September 28, 2020, the Company received a notification letter from the Nasdaq Listing Qualifications department of Nasdaq stating that the Company was not in compliance with the Minimum Bid Price Rule. The notification stated that the Company’s securities would be delisted from the Nasdaq Capital Market on March 29, 2021 unless the Company timely requested a hearing before a Nasdaq Hearing Panel. On February 5, 2021, the Company received a letter from Nasdaq stating that the Company had regained compliance with the Minimum Bid Price Rule because the closing price for the Company’s common stock was $1.00 per share or greater for ten (10) consecutive business days. Reverse Stock Split Approval On May 11, 2020, our shareholders voted in favor of the approval of an amendment to our Certificate of Incorporation, in the event it is deemed advisable by our Board of Directors, to effect an additional reverse stock split of the Company’s issued and outstanding common stock at a ratio within the range of one-for-two (1:2) and one-for-ten (1:10), as determined by the Board of Directors. However, a reverse stock split has not yet been effected pursuant to such approval. Registered Public Offering On August 18, 2020, in connection with an underwritten public offering, we raised approximately $8.2 million in net proceeds by issuing 10.2 million shares of common stock, the exercise of 1.7 million pre-funded warrants and 11.2 million warrants to purchase shares of common stock. Holders of the warrants subsequently exercised such warrants for 150,000 shares of common stock for $135 thousand. Principles of Consolidation The consolidated financial statements include the accounts of LMFA and its wholly-owned subsidiaries: LM Funding, LLC; LMF October 2010 Fund, LLC; LMFAO Sponsor LLC (including the 70% owned subsidiary LMF Acquisition Opportunities Inc,), REO Management Holdings, LLC (including all 100% owned subsidiary limited liability companies); LM Funding of Colorado, LLC; LM Funding of Washington, LLC; LM Funding of Illinois, LLC; and LMF SPE #2, LLC and various single purpose limited liability corporations owned by REO Management Holdings, LLC which own various properties. It also includes IIU Inc. and its wholly-owned subsidiary; Wallach & Company. All significant intercompany balances have been eliminated in consolidation Basis of Presentation The consolidated financial statements have been prepared pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). The Company prepares its consolidated financial statements in conformity with generally accepted accounting principles in the United States (“GAAP”). Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the evaluation of any probable losses on amounts funded under the Company’s New Neighbor Guaranty We are not presently aware of any events or circumstances arising from the COVID-19 pandemic that would require us to update our estimates or judgments or revise the carrying value of our assets or liabilities. Our estimates may change, however, as new events occur and additional information is obtained, and any such changes will be recognized in the condensed consolidated financial statements. Revenue Recognition Accounting Standards Codification (“ASC”) 606 of the Financial Accounting Standards Board (“FASB”) states an entity needs to conclude at the inception of the contract that collectability of the consideration to which it will be entitled in exchange for the goods and services that will be transferred to the customer is probable. That is, in some circumstances, an entity may not need to assess its ability to collect all of the consideration in the contract. The Company provides funding to Associations by purchasing their rights under delinquent accounts from unpaid assessments due from property owners. Collections on the Accounts may vary greatly in both the timing and amount ultimately recovered compared with the total revenues earned on the Accounts because of a variety of economic and social factors affecting the real estate environment in general . The Company’s contracts with its customers have very specific performance obligations. The Company has determined that the known amount of cash to be realized or realizable on its revenue generating activities cannot be reasonably estimate and as such, classifies its finance receivables as nonaccrual and recognizes revenues in the accompanying statements of income on the cash basis or cost recovery method in accordance with ASC 310-10, Receivables The Company analyzed its remaining revenue streams and concluded there were no changes in revenue recognition with the adoption of the new standard. Under ASC 606, the Company applies the cash basis method to its original product and the cost recovery method to its special product as follows: Finance Receivables—Original Product : Under the Company’s original product, delinquent assessments are funded only up to the Super Lien Amount as discussed above. Recoverability of funded amounts is generally assured because of the protection of the Super Lien Amount. As such, payments by unit owners on the Company’s original product are recorded to income when received in accordance with the provisions of the Florida Statute (718.116(3)) and the provisions of the purchase agreements entered into between the Company and Associations. Those provisions require that all payments be applied in the following order: first to interest, then to late fees, then to costs of collection, then to legal fees expended by the Company and then to assessments owed. In accordance with the cash basis method of recognizing revenue and the provisions of the statute, the Company records revenues for interest and late fees when cash is received. In the event the Company determines the ultimate collectability of amounts funded under its original product are in doubt, payments are applied to first reduce the funded or principal amount. Finance Receivables—Special Product (New Neighbor Guaranty program) : During 2012, the Company began offering associations an alternative product under the program whereby the Company will fund amounts in excess of the Super Lien Amount. Under this special product, the Company purchases substantially all of the delinquent assessments owed to the association, in addition to all accrued interest and late fees, in exchange for payment by the Company of (i) a negotiated amount or (ii) on a going forward basis, all monthly assessments due for a period up to 48 months. Under these arrangements, the Company considers the collection of amounts funded is not assured and under the cost recovery method, cash collected is applied to first reduce the carrying value of the funded or principal amount with any remaining proceeds applied next to interest, late fees, legal fees, collection costs and any amounts due to the Association. Any excess proceeds still remaining are recognized as revenues. If the future proceeds collected are lower than the Company’s funded or principal amount, then a loss is recognized. Net Commission Revenue: The Company acts as an agent in providing health travel insurance policies. As a result, the Company revenue is recorded at net. The Company has determined that the known amount of cash to be realized or realizable on its revenue generating activities can be reasonably estimated and as such, classifies its receivables as accrual and recognizes revenues in the accompanying statements of income on the accrual basis. If a policy is not effective as of the end of a period, then the associated revenue and underwriting costs are deferred until the effective date. The majority of the commission revenue is underwritten by two policy underwriters who pays the Company commissions. Cash The Company maintains cash balances at several financial institutions that are insured under the Federal Deposit Insurance Corporation’s (“FDIC”) Transition Account Guarantee Program. Balances with the financial institutions may exceed federally insured limits. Finance Receivables Finance receivables are recorded at the amount funded or cost (by unit). The Company evaluates its finance receivables at each period end for losses that are considered probable and can be reasonably estimated in accordance with ASC 450-20. As discussed above, recoverability of funded amounts under the Company’s original product is generally assured because of the protection of the Super Lien Amount. However, the Company did have an accrual at December 31, 2020 and 2019, respectively for an allowance for credit losses for this program of $141,616 and $112,027. Under the New Neighbor Guaranty The Company will charge any receivable against the allowance for credit losses when management believes the uncollectibility of the receivable is confirmed. The Company considers writing off a receivable when (i) a first mortgage holder who names the association in a foreclosure suit takes title and satisfies an estoppel letter for amounts owed which are less than amounts the Company funded to the association; (ii) a tax deed is issued with insufficient excess proceeds to pay amounts the Company funded to the Association; (iii) an association settles an account for less than amounts the Company funded to the Association or (iv) the Association terminates its relationship with the Company’s designated legal counsel. Upon the occurrence of any of these events, the Company evaluates the potential recovery via a deficiency judgment against the prior owner and the ability to collect upon the deficiency judgment within the statute of limitations period or whether the deficiency judgment can be sold. If the Company determines that collection through a deficiency judgment or sale of a deficiency judgment is not feasible, the Company writes off the unrecoverable receivable amount. Any losses greater than the recorded allowance will be recognized as expenses. Under the Company’s revenue recognition policies, all finance receivables (original product and special product) are classified as nonaccrual. Real Estate Assets Owned In the event collection of a delinquent assessment results in a unit being sold in a foreclosure auction, the Company has the right to bid (on behalf of the Association) for the delinquent unit as attorney in fact, applying any amounts owed for the delinquent assessment to the foreclosure price as well as any additional funds that the Company, in its sole discretion, decides to pay. If a delinquent unit becomes owned by the Association by acquiring title through an association lien foreclosure auction, by accepting a deed-in-lieu of foreclosure, or by any other way, the Company in its sole discretion may direct the Association to quitclaim title of the unit to the Company. Properties quitclaimed to the Company are in most cases acquired subject to a first mortgage or other liens, and are recognized in the accompanying consolidated balance sheets solely at costs incurred by the Company in excess of original funding. At times, the Company will acquire properties through foreclosure actions free and clear of any mortgages or liens. In these cases, the Company records the estimated fair value of the properties in accordance with ASC 820-10, Fair Value Measurements The Company capitalizes costs incurred to acquire real estate owned properties and any costs incurred to get the units in a condition to be rented. These costs include, but are not limited to, renovation/rehabilitation costs, legal costs, and delinquent taxes. These costs are depreciated over the estimated minimum time period the Company expects to maintain possession of the units. Costs incurred for unencumbered units are depreciated over 20 years and costs for units subject to a first mortgage are depreciated over 3 years. As of December 31, 2020 and 2019, capitalized real estate costs, net of accumulated depreciation, were $18,767 and $21,084, respectively. During the years ended December 31, 2020 and 2019, depreciation expense was $7,740 and $21,444, respectively. If the Company elects to take a quitclaim title to a unit or property held for sale, the Company is responsible to pay all future assessments on a current basis, until a change of ownership occurs. The Association must allow the Company to lease or sell the unit to satisfy obligations for delinquent assessments of the original debt. All proceeds collected from any sale of the unit shall be first applied to all amounts due the Company plus any additional funds paid by the Company to purchase the unit, if applicable. Rental revenues and sales proceeds related to real estate assets held for sale are recognized when earned and realizable. Expenditures for current assessments owed to associations, repairs and maintenance, utilities, etc. are expensed when incurred. If the Association elects (prior to the Company obtaining title through its own election) to maintain ownership and not quitclaim title to the Company, the Association must pay the Company all interest, late fees, collection costs, and legal fees expended, plus the original funding on the unit, which have accrued according to the purchase agreement entered into by the community association and the Company. In this event, the unit will be reassigned to the Association. Fixed Assets The Company capitalizes all acquisitions of fixed assets in excess of $500. Fixed assets are stated at cost. Depreciation is provided on the straight-line method over the estimated useful lives of the assets. Fixed assets are comprised of furniture, computer and office equipment with an assigned useful life of 3 to 5 years. Fixed assets also includes capitalized software costs. Capitalized software costs include costs to develop software to be used solely to meet the Company’s internal needs, consist of employee salaries and benefits and fees paid to outside consultants during the application development stage, and are amortized over their estimated useful life of 5 years. As of December 31, 2020 and 2019, capitalized software costs, net of accumulated amortization, was $nil and $nil, respectively. Amortization expense for capitalized software costs for the periods ended December 31, 2020 and December 31, 2019 was $nil and $21,951, respectively. Right to Use Assets The Company capitalizes all leased assets pursuant to ASU 2016-02, "Leases (Topic 842)," which requires lessees to recognize right-of-use assets and lease liability, initially measured at present value of the lease payments, on its balance sheet for leases with terms longer than 12 months and classified as either financing or operating leases. Goodwill Goodwill represents the excess purchase price of acquired businesses over the fair value of the net assets acquired. Goodwill is not amortized, but instead is tested for impairment annually or whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. During 2019, the Company recorded goodwill of approximately $5.7 million which represented amounts for the purchase of IIU. For purposes of the 2019 annual test, we will elected to perform a goodwill impairment analysis to assess whether it was more likely than not that the fair value of these reporting units exceeded their respective carrying values. In performing these assessments, management relied on a number of factors including, but not limited to, macroeconomic conditions, industry and market considerations, cost factors that would have a negative effect on earnings and cash flows, overall financial performance compared with forecasted projections in prior periods, and other relevant reporting unit events, the impact of which are all significant judgments and estimates. This assessment was performed as of December 31, 2019 and showed a $1.65 million impairment due to the sale of IIU on January 8, 2020. The balance of goodwill as of December 31, 2020 and 2019 was approximately $0 and $4.1 million, respectively. The goodwill was removed upon the sale of IIU. Debt Issue Costs The Company capitalizes all debt issue costs and amortizes them on a method that approximates the effective interest method over the remaining term of the note payable. The Company did not have any unamortized debt issue costs at December 31, 2020 or 2019. The Company incurred $291,760 debt issuance costs in 2018. Any costs will be presented in the accompanying condensed consolidated balance sheets as other assets until the loan proceeds are received which at that time will be reclassified as a direct deduction from the carrying amount of that debt liability in accordance with Accounting Standards Update (“ASU”) 2015-03. Debt Discount On April 2, 2018, the Company entered into a Securities Purchase Agreement (the “SPA”) with a New York-based family office (“Investor”), which was subsequently amended, pursuant to which the Company issued to Investor a Senior Convertible Promissory Note (the “Note”) in the original principal amount of $500,000 in exchange for a purchase price of $500,000. The maturity date of the Note was six months after the date of issuance (subject to acceleration upon an event of default). The Note carried a 10.5% interest rate, with accrued but unpaid interest being payable on the Note’s maturity date. Investor was also issued pursuant to the SPA five- year warrants exercisable at the closing per share bid price on April 2, 2018 to purchase 40,000 shares of the Company’s common stock (the “Warrants”) (see Note 7. Long Term Debt). The 40,000 warrants were valued on the grant date at approximately $3.87 per warrant or a total relative fair value of $154,676 using a Black-Scholes option pricing model with the following assumptions: stock price of $7.40 per share (based on the quoted trading price on the date of grant), volatility of 100.6%, expected term of 5 years, and a risk-free interest rate of 2.55%. The relative fair value of the warrants ($154,676) was treated as a debt discount that was amortized over 6 months in 2018. Due to the subsequent issuance of stock and warrants on October 31, 2018 and also on August 2020, these warrants now represent the right to purchase 777,059 shares of common stock at an exercise price of $0.34 per

Finance Receivables - Original

Finance Receivables - Original Product	12 Months Ended
	Dec. 31, 2020
Original Product [Member]
Finance Receivables	Note 2. Finance Receivables – Original Product The Company’s original funding product provides financing to Associations only up to the secured or “Super Lien Amount” as discussed in Note 1. Finance receivables for the original product as of December 31, based on the year of funding are approximately as follows: 2020 2019 Funded during the current year $ 25,000 $ 40,000 1-2 years outstanding 12,000 15,000 2-3 years outstanding 9,000 20,000 3-4 years outstanding 12,000 11,000 Greater than 4 years outstanding 200,000 300,000 258,000 386,000 Reserve for credit losses (142,000 ) (112,000 ) Total $ 116,000 $ 274,000

Finance Receivables - Special P

Finance Receivables - Special Product (New Neighbor Guaranty program)	12 Months Ended
	Dec. 31, 2020
Special Product (New Neighbor Guaranty Program) [Member]
Accounts Notes And Loans Receivable [Line Items]
Finance Receivables	Note 3. Finance Receivables – Special Product (New Neighbor Guaranty program) The Company typically funds amounts equal to or less than the “Super Lien Amount”. During 2012 the Company began offering Associations an alternative product under the New Neighbor Guaranty program where the Company funds amounts in excess of the “Super Lien Amount”. Under this special product, the Company purchases substantially all of the outstanding past due assessments due from delinquent property owners, in addition to all interest, late fees and other charges in exchange for the Company’s commitment to pay monthly assessments on a going forward basis up to 48 months. As of December 31, 2020, maximum future contingent payments under these arrangements was approximately $3,000. Delinquent assessments and accrued charges under these arrangements as of December 31, are as follows: 2020 2019 Finance receivables, net $ 53,000 $ 129,000 Delinquent assessments 148,000 374,000 Accrued interest and late fees 57,000 235,000 Number of active units with delinquent assessments 20 31

New Neighbor Guaranty Allowance

New Neighbor Guaranty Allowance for Credit Losses	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
New Neighbor Guaranty Allowance for Credit Losses	Note 4. New Neighbor Guaranty Allowance for Credit Losses Allowance for credit losses are recorded for losses that are considered “probable” and can be “reasonably estimated” in accordance with ASC 450-20. Recoverability of the Company’s original product is generally assured because of the protection of the Super Lien amount under Florida statute and as such no allowance is recorded. Credit losses on the New Neighbor Guaranty product were estimated by the Company and had a remaining balance of approximately $6,500 and $20,000 as of December 31, 2020 and 2019, respectively.

Real Estate Assets Owned

Real Estate Assets Owned	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
Real Estate Assets Owned	Note 5. Real Estate Assets Owned Real estate assets owned as reported in the accompanying consolidated balance sheets consist of the fair market value less cost to dispose for those foreclosed units acquired free and clear of any mortgage or other liens plus costs incurred by the Company in excess of original funding on units. Real estate assets owned (free and clear of any mortgage) at December 31, 2020, and 2019, were approximately $18,800 and $21,100 respectively, consisting of one and one unit, at these dates. The Company acquired none and none new unencumbered units, net of disposals during 2020 and 2019 that were capitalized at fair value less cost to dispose of approximately $0 and $0, respectively. Most units are quitclaimed to the Company without the Company incurring additional cost and are subject to mortgage. Total units within the real estate portfolio at December 31, 2020 and 2019 as a result of foreclosure action were, including those discussed above, 8 and 20, respectively. During 2020 and 2019, the Company sold twelve and twenty-three units, respectively, and realized proceeds of approximately $73,000 and $190,000, respectively. Any proceeds collected are first applied to recover the Company’s investment with any remaining proceeds applied next to interest, late fees, legal fees, collection costs and any amounts due to the community association. Any excess proceeds still remaining are recognized as gain on sale of real estate assets. If the future proceeds collected are lower than the Company’s carrying value, then a loss is recognized on the sale. There was no significant gain or loss on the disposal of real estate assets during 2020 or 2019. Rental revenues collected in 2020 and 2019 were approximately $133,000 (net of cost recovery of $0) and $227,000, respectively (net of cost recovery of $0). As mentioned above, upon a unit being quitclaim deeded to the Company, the Company becomes responsible for current association assessments. The monthly contingent obligation for assessments due on these units to associations as of December 31, 2020 and 2019 approximates $3,000 and $7,000, respectively.

Goodwill and Acquisition

Goodwill and Acquisition	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Goodwill and Acquisition	Note 6. Goodwill and Acquisition On November 2, 2018, the Company invested cash by purchasing a Securities Purchase Agreement (the “IIU SPA”) from IIU Inc. (“IIU”), a synergistic Virginia based travel insurance brokerage company controlled by Craven House N.A. (whose ownership excluding unexercised warrants is approximately 20% of the Company’s outstanding stock as of the date of acquisition), pursuant to which IIU issued to the Company a Senior Convertible Promissory Note (“IIU Note”) in the original principal amount of $1,500,000 in exchange for a purchase price of $1,500,000. The maturity date of the Note is 360 dates after the date of issuance (subject to acceleration upon an event of default). The Note carries a 3.0% interest rate, with accrued but unpaid interest being payable on the Note’s maturity date. The IIU Note allows the Company the right on or after the maturity date to convert any unpaid principal and accrued and unpaid interest of the IIU Note into shares of IIU based on a conversion amount which is the fair value of the common shares of IIU at the time. The conversion price will be reset if IIU issues or sells common shares, convertibles securities or options at a price per share that is less than the conversion price in effect immediately prior to such issue or sale or deemed issuance or sale of such dilutive issuance. On January 16, 2019, the Company entered into a Stock Purchase Agreement with Craven House North America, LLC ( “Craven” IIU global medical insurance products for international travelers, specializing in policies covering high-risk destinations, emerging markets and foreign travelers coming to the United States. All policies are fully underwritten with no claim risk remaining with IIU. The Board of Directors of LMFA approved the purchase of IIU. LMFA purchased 100% of the outstanding stock of IIU for $5,089,357. LMFA paid the Purchase Price at closing as follows: • Cancellation by LMFA of all principal and accrued interest of IIU’s Promissory Note dated November 3, 2018 and issued to LMFA for principal indebtedness and accrued interest of $1,507,375. • LMFA issued to Craven a $3,581,982 Convertible Promissory Note (“Craven note”) for the balance of the Purchase Price. At the option of Craven, the Convertible Note may be paid in restricted common shares of LMFA or cash. The Convertible Note shall bear simple interest at 3% per annum. The Convertible Note shall be due and payable 360 days from the Closing Date. If repaid by LMFA in restricted common stock, the outstanding principal and interest of the Convertible Note shall be paid by LMFA by issuing to Seller a number of restricted common shares equal to the adjusted principal and accrued interest owing on the Convertible Note divided by $2.41. The note principal was subsequently reduced by $120,200 arising from lower than expected Closing Cash and Net Working Capital. Craven had verbally agreed to extend repayment of this Convertible Promissory Note 12 months from April 15, 2019. • Net cash received in the business acquisition was $51,327 As such, the $1.5 million note receivable was cancelled as of January 16, 2019. The following table summarizes the approximate consideration paid and the amounts of the identified assets acquired and liabilities assumed at the acquisition date: January 16, 2019 Total adjusted purchase price $ 4,969,200 Recognized preliminary amounts of identifiable assets acquired and (liabilities assumed), at fair value: Cash 51,300 Prepaid and other current assets 5,200 Profit on purchased policies 14,600 Property, plant and equipment 17,100 Accounts payable (5,100 ) Accrued expenses and other liabilities (62,686 ) Income taxes (28,500 ) Deferred revenue (9,300 ) Debt (703,000 ) Preliminary estimate of the fair value of assets and liabilities assumed (720,386 ) Goodwill $ 5,689,586 We performed an assessment effective as of December 31, 2020 in light of the Company’s sale of IIU on January 8, 2020 which resulted in a $1.65 million goodwill impairment. On January 8, 2020, the Company entered into a SPA with Craven pursuant to which the Company sold to Craven all of the issued and outstanding shares of IIU for $3,562,569. The purchase price was paid by Craven

Long-Term Debt and Other Financ

Long-Term Debt and Other Financing Arrangements	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Long-Term Debt and Other Financing Arrangements	Note 7. Long-Term Debt and Other Financing Arrangements Year ended December 31, 2020 2019 Promissory note issued by a financial institution, bearing interest at 1.0%, interest and no principal payments. The note matures April 30, 2022. Annualized interest is 1.0%. This is a U.S. Small Business Administration’s Paycheck Protection Program (the “PPP Loan”) $ 185,785 $ - Financing agreement with FlatIron capital that is unsecured. Down payment of $19,170 was required upfront and equal installment payments of $11,590 to be made over a 11 month period. The note matured on June 1, 2020. Annualized interest is 6.8% - 69,540 Financing agreement with FlatIron capital that is unsecured. Down payment of $20,746 was required upfront and equal installment payments of $19,251 to be made over a 10 month period. The note matures on May 1, 2021. Annualized interest is 5.95% 96,257 - Senior secured convertible note to Craven House Capital North America LLC (Related Party), bearing interest at 3.0%. Note was issued on January 16, 2019 and either matured on January 14, 2020 or became convertible into 1,436,424 shares of the Company's common stock. The value of the beneficial conversion feature as of January 16, 2019 was zero.* - 3,461,782 Promissory note issued by a financial institution, bearing interest at 9.09%, interest and principal payments due monthly of $323. Note is secured by an automobile and was issued on July 26, 2019 with original borrowings of $12,892. The note matures on August 26, 2023. - 11,802 Promissory note issued by a financial institution, bearing interest at 5.85%, interest and principal payments due monthly of $10,932. Note was issued on May 31, 2018 with original borrowings of $608,000 and subsequent borrowings of $141,000 and repayments of $51,000. The note matures on May 30, 2025 and can be prepaid at any time without penalty. This note is secured by the Company’s inventory, chattel paper, accounts, equipment and general intangible intangibles and deposit accounts. - 606,454 $ 282,042 $ 4,149,578 *The $3.5 million convertible note was forgiven in connection with Craven’s repurchase of IIU on January 8, 2020 pursuant to the terms of the Craven SPA. On April 30, 2020, the company obtained a $185,785 Paycheck Protection Program loan. These business loans were established by the 2020 US Federal government Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) to help certain businesses, self-employed workers, sole proprietors, certain nonprofit organizations, and tribal businesses continue paying their workers. The Paycheck Protection Program allows entities to apply for low interest private loans to pay for their payroll and certain other costs. The loan proceeds will be used to cover payroll costs, rent, interest, and utilities. The loan may be partially or fully forgiven if the Company keeps its employee counts and employee wages stable. The program was implemented by the U.S. Small Business Administration. The interest rate is 1.0% and has a maturity date of 2 years. We applied for loan and interest forgiveness in the fourth quarter of 2020. Minimum required principal payments on the Company’s debt as of December 31, 2020 are as follows : Years Ending December 31, 2020 $ 96,257 2021 185,785 2022 - 2023 - 2024 - $ 282,042

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8. Commitments and Contingencies Leases The Company leases certain office space, construction and office equipment, vehicles and temporary housing generally under non-cancelable operating leases. Leases with an initial term of one year or less are not recorded on the balance sheet, and the Company generally recognizes lease expense for these leases on a straight-line basis over the lease term. As of December 31, 2020, the Company’s operating leases have remaining lease terms ranging from less than one year to 3 years, some of which include options to renew the leases. The exercise of lease renewal options is generally at the Company’s sole discretion. The Company’s leases do not contain any material residual value guarantees or material restrictive covenants. The Company determines if an arrangement is a lease at inception. Operating lease ROU assets and current and long-term operating lease liabilities are separately stated on the Consolidated Balance Sheet as of December 31, 2020. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. The present value of future lease payments are discounted using either the implicit rate in the lease, if known, or the Company’s incremental borrowing rate for the specific lease as of the lease commencement date. The rate was determined as a fair value of the lease over a 37 month period using a 6.5% interest rate for the present value calculation. The Company leased its office under an operating lease beginning March 1, 2014 and ending July 31, 2019. The Company’s new office lease began July 15, 2019 and ends July 31, 2022. A related party has a sub-lease for approximately $4,900 per month plus operating expenses. The Company shares this space and the related costs associated with this operating lease with a related party (see Note 11) that also performs legal services associated with the collection of delinquent assessments. The Company entered into a sub-lease with an unrelated party but we stopped receiving such sub-lease rental income in September 2018. Net rent expense recognized for the twelve months ended December 31, 2020 and 2019 were approximated $94,000 and $186,600, respectively. The following table presents supplemental balance sheet information related to operating leases as of December 31, 2020 : Balance Sheet Line Item 2020 2019 Assets ROU assets Right of use asset, net $ 160,667 $ 260,260 Total lease assets $ 160,667 $ 260,260 Liabilities Current lease liabilities Lease liability $ 103,646 $ 94,235 Long-term lease liabilities Lease liability 68,002 171,648 Total lease liabilities $ 171,648 $ 265,883 Weighted-average remaining lease term (in years) 1.6 2.6 Weighted-average discount rate 6.55 % 6.55 % The following table presents supplemental cash flow information and non-cash activity related to operating leases for the twelve months ended December 31, 2020 and 2019: 2020 2019 Operating cash flow information Cash paid for amounts included in the measurement of lease liabilities $ 94,235 $ 44,765 Non-cash activity: ROU assets obtained in exchange for lease liabilities (lease cancelled) - 26,685 ROU assets obtained in exchange for lease liabilities - 304,792 Total ROU assets obtained in exchange for lease liabilities 331,477 The following table presents maturities of operating lease liabilities on an undiscounted basis as of December 31, 2020: Operating Leases 2021 103,646 2022 68,002 171,648 Legal Proceedings Other than the lawsuits described below, we are not currently a party to material litigation proceedings. However, we frequently become party to litigation in the ordinary course of business, including either the prosecution or defense of claims arising from contracts by and between us and client Associations. Regardless of the outcome, litigation can have an adverse impact on us because of prosecution, defense, and settlement costs, diversion of management resources and other factors. The Company accrues for contingent obligations, including estimated legal costs, when the obligation is probable and the amount is reasonably estimable. As facts concerning contingencies become known, the Company reassesses its position and makes appropriate adjustments to the consolidated financial statements. Estimates that are particularly sensitive to future changes include those related to tax, legal, and other regulatory matters. Funding Commitment On December 14, 2020, the Company entered into a Master Loan Receivables Purchase and Assignment Agreement (the “Purchase Agreement”) under which the Company agreed to purchase up to $18 million of loan receivables of Borqs Technologies, Inc. (NASDAQ: BRQS), a British Virgin Islands company (“Borqs”), from Borqs’ senior lenders, Partners for Growth IV, L.P. and Partners for Growth V. L.P. As a part of the transaction, LMFA entered into a Settlement Agreement, dated December 14, 2020 (the “Settlement Agreement”), with Borqs pursuant to which Borqs was obligated to issue shares of Borqs common stock to LMFA (the “Settlement Shares”), in one or more tranches, in settlement of the loan receivables acquired by LMFA under the Purchase Agreement. This transaction was not funded until 2021. See Note 15 – Subsequent Events In a separate transaction and also as previously disclosed, on December 16, 2020, LMFA and Esousa Holdings, LLC, a private investor (the “Investor”) entered into a Loan Agreement (the “Loan Agreement”) pursuant to which the Investor agreed to provide consulting services and make one or more non-recourse loans to LMFA in a principal amount of up to the purchase price of the Borqs loan receivables purchased by LMFA. The Loan Agreement does not provide a fixed rate of interest, and LMFA and Investor agreed to split the net proceeds from LMFA’s sales of the Settlement Shares, with LMFA receiving one-third of the net proceeds after a return of Investor’s principal and the Investor receiving return of principal plus two-thirds of the net proceeds thereafter.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 9. Income Taxes Prior to the Company’s initial public offering in October 2015, the earnings of the Predecessor, which was a limited liability company taxed as a partnership, were taxable to its members. In connection with the contribution of membership interests to the Company (a C-Corporation formed in 2015), the net income or loss of the Company after the initial public offering is taxable to the Company and reflected in the accompanying consolidated financial statements. The Company performs an evaluation of the realizability of its deferred tax assets on a quarterly basis. The Company considers all positive and negative evidence available in determining the potential of realizing deferred tax assets, including the scheduled reversal of temporary differences, recent and projected future taxable income and prudent and feasible tax planning strategies. The estimates and assumptions used by the Company in computing the income taxes reflected in the accompanying consolidated financial statements could differ from the actual results reflected in the income tax returns filed during the subsequent year. Adjustments are recorded based on filed returns when finalized or the related adjustments are identified. Under ASC 740-10-30-5, Income Taxes Significant components of the tax expense (benefit) recognized in the accompanying consolidated statements of operations for the years ended December 31, 2020 and December 31, 2019) are as follows: Year Ended Year Ended December 31, 2020 December 31, 2019 Current tax benefit Federal $ (955,977 ) $ (426,931 ) State (197,796 ) (88,334 ) Total current tax benefit (1,153,773 ) (515,265 ) Deferred tax expense 130,403 84,015 Valuation allowance (expense) 1,023,370 431,250 Income tax (reduction) benefit $ - $ - The reconciliation of the income tax computed at the combined federal and state statutory rate of 25.3% for the year ended December 31, 2020 and 25.3% for the year ended December 31, 2019 to the income tax benefit is as follows: Year Ended December 31, Year Ended December 31, 2020 2020 2019 2019 Benefit on net loss $ (1,024,640 ) 25.3 % $ (849,700 ) 28.3 % Nondeductible expenses 1,271 0.0 % 418,450 (13.90 )% Valuation allowance (expense) 1,023,369 (25.3 )% 431,250 (14.30 )% Other items - 0.0 % - 0.0 % Tax benefit/effective rate $ - 0.0 % $ - 0.1 % The significant components of the Company’s deferred tax liabilities and assets as of December 31, 2020 and December 31, 2019 are as follows: As of December 31, 2020 2019 Deferred tax liabilities: Tax expense for internally developed software $ (1,814 ) $ 4,081 Tax depreciation in excess of book (2,917 ) 1,029 Total deferred tax liabilities (4,731 ) 5,110 Deferred tax assets: Loss carryforwards 3,913,579 2,759,806 Step up in basis at contribution to C-Corp 511,052 682,231 Stock option expense 124,876 89,295 Step up in basis - purchase of non-controlling interest 49,950 54,597 Allowance for credit losses 33,466 33,466 Accrued liabilities 20,573 20,572 Total deferred tax asset 4,653,496 3,639,967 Valuation allowance (4,658,226 ) (3,634,857 ) Net deferred tax asset $ - $ (0 ) As discussed above, the Predecessor effected a transaction resulting in the contribution of member interests to the Company (a newly formed C-Corporation). This transaction was recorded at the carryover basis of the Predecessor for both tax and financial reporting purposes. In accordance with ASC 740-10-45-19, Income Taxes

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Stockholders' Equity	Note 10. Stockholders’ Equity Stock Issuance Fiscal Year 2020 On March 23, 2020, the Company entered into a Share Exchange Agreement, dated March 23, 2020 (the “Share Exchange Agreement”), with Hanfor (Cayman) Limited, a Cayman Islands exempted company (“Hanfor”), and BZ Industrial Limited, a British Virgin Islands business company and the sole stockholder of Hanfor (“Hanfor Owner”). In connection with the execution of the Share Exchange Agreement, the Company and Hanfor Owner entered into a Stock Purchase Agreement, dated March 23, 2020, pursuant to which Hanfor Owner purchased from Company an aggregate of 520,833 shares of the Company’s common stock at a price of $2.40 per share. Hanfor Owner paid $250,000 cash on March 23, 2020 and the Company received the remaining $1.0 million in April 2020 at which time the Company issued the 520,838 shares. In connection with an underwritten public offering on August 18, 2020, the Company issued (i) 8,300,000 units (the “Units”), with each Unit consisting of one share of common stock, par value $0.001 per share (the “Common Stock”) and one warrant to purchase one share of common stock (the “Common Warrants”), and (ii) 1,700,000 pre-funded units (the “Pre-Funded Units”), with each pre-funded unit being comprised of one pre-funded warrant to purchase one share of common stock at an exercise price of $.01 per share (the “Pre-Funded Warrants”) and one warrant to purchase one share of common stock. Each Unit was sold for a price of $0.90 per Unit, and each Pre-Funded Unit was sold for a price of $0.89 per Pre-Funded Unit. Pursuant to an over-allotment option in the underwriting agreement, the Company sold an additional 200,000 shares of Common Stock. The net proceeds of the offering were approximately $8,198,000. During the twelve months ended December 31, 2020, warrants for 1,377,702 shares were exercised for $3,081,730. Fiscal Year 2019 During the twelve months ended December 31, 2019, warrants for 9,300 shares were exercised for $22,320. Stock Warrants The following is a summary of the stock warrant plan activity during the years ended December 31, 2020 and 2019: 2020 2019 Number of Warrants Weighted Average Exercise Price Number of Warrants Weighted Average Exercise Price Warrants Outstanding at Beginning of the year 3,959,287 $5.45 3,843,587 $5.53 Granted 11,200,000 0.90 125,000 2.64 Exercised 1,377,700 2.24 9,300 2.40 Adjustment 1,008,472 0.46 - - Forfeited 1,200,000 12.50 - - Warrants Outstanding and Exercisable at End of Year 13,590,059 $0.84 3,959,287 $5.45 The aggregate intrinsic value of the outstanding common stock warrants as of December 31, 2020 and 2019 was $256,429 and $0 respectively. As part of its initial public offering, o n October 23, 2015 the Company issued 1,200,000 warrants that allowed for the right to purchase 1,200,000 shares of common stock at an average exercise price of $12.50 per share. Due to the Reverse Stock Split on October 16, 2018, each warrant may only purchase one-tenth of one share of common stock at $12.50. These warrants have weighted average price of $12.50 per share and 0.94 years On October 31, 2018, the Company issued warrants as part of its secondary offering that allowed for the right to purchase 2,500,000 shares of common stock at an exercise price of $2.40 per share which were subsequently adjusted due to an issuance of shares in August 2020 to $0.67 per share. These warrants have an average remaining life of 2.8 years as of December 31, 2020. These warrants expire in the year 2023. During the twelve months ended December 31, 2020 and 2019, warrants for 1,227,700 shares were exercised for $2,945,252, warrants for 9,300 shares were exercised for $22,320,respectively. On August 18, 2020, the Company issued warrants as part of its secondary offering that allowed for the right to purchase 11,200,000 shares of common stock at an exercise price of $0.90 per share. These warrants have an average remaining life of 4.63 years as of December 31, 2020. These warrants expire in the year 2025. During the twelve months ended December 31, 2020, warrants for 150,000 shares were exercised for $135,000. On April 2, 2018, the Company issued warrants that allowed for the right to purchase 40,000 shares of common stock at an exercise price of $6.605 per share. If at any time these warrants are outstanding, the Company combines its outstanding shares of common stock into a smaller number of shares or enters into a corporate action or transaction to change the number of outstanding shares of common stock, then the exercise price will be adjusted along with the number of shares that can be purchased under this agreement. Due to the subsequent issuance of stock and warrants on October 31, 2018, these warrants now represent the right to purchase 777,059 shares of common stock at an exercise price of $0.34 per share. These warrants have an average remaining life of 2.25 years as of December 31, 2020. These warrants expire in the year 2023. As part of its underwriting agreement dated, October 31, 2018, the Company issued additional warrants, effective May 1, 2019, to its underwriter as part of its secondary offering that allowed for the right to purchase 125,000 shares of common stock at an exercise price of $2.64 per share on or after May 1, 2019. These warrants expire on May 2, 2022. Stock Options The 2015 Omnibus Incentive Plan provides for the issuance of stock options, stock appreciation rights, performance shares, performance units, restricted stock, restricted stock units, shares of our common stock, dividend equivalent units, incentive cash awards or other awards based on our common stock. Awards may be granted alone or in addition to, in tandem with, or (subject to the 2015 Omnibus Incentive Plan’s prohibitions on repricing) in substitution for any other award (or any other award granted under another plan of ours or of any of our affiliates). On May 29, 2018 the Company granted a total of 10,000 stock options to an employee at an exercise price of $10.00 per share. These awards will vest evenly over a three year period. The maximum term of an option is 10 years from the date of grant. The grant date fair value of the options was $4.68. Total expense to be recognized after adjusting for forfeitures for the employee options is approximately $35,000. The Black-Scholes pricing model was used to determine the fair value of the stock options granted by the Company. The Company recognizes this value as an expense over the period in which the stock options vest. There were no awards in fiscal year 2019. The weighted average grant date fair value of the options granted was $4.68 for awards granted in the years ended December 31, 2019 Compensation expense recognized from the vesting of stock options was approximately $15,000 of which $9,000 was for options issued prior to 2019 and $25,000 of which $18,800 was for options issued prior to 2018, respectively for the years ended December 31, 2020 and 201 The aggregate intrinsic value of the outstanding common stock options as of December 31, 2020 and 2019 was $0 and $0 respectively. The Black-Scholes option-pricing model was developed for use in estimating the fair value of traded options that have no vesting restrictions. The model requires the use of subjective assumptions. Expected volatility was based on the historical volatility of another public company with a similar business model and comparable market share as the Company. The expected life (in years) was determined using historical data to estimate options exercise patterns. The Company does not expect to pay any dividends for the foreseeable future thus a value of zero was used in the calculation. The risk-free interest rate was based on the rate for US Treasury bonds commensurate with the expected term of the granted options. Significant assumptions used in the option-pricing model to fair value options granted were as follows: 2018 Risk-free rate 2.65 % Expected life 6 years Expected volatility 108.00 % Expected dividend — The following is a summary of the stock option plan activity during the years ended December 31, 2020 and 2019: 2020 2019 Number of Weighted Average Number of Weighted Average Options Exercise Price Options Exercise Price Options Outstanding at Beginning of the year 19,300 $ 60.51 19,300 $ 60.51 Granted - - - - Exercised - - - - Adjustment - - - - Forfeited - - - - Options Outstanding at End of Year 19,300 $ 60.51 19,300 $ 60.51 Options Exercisable at End of Year 15,134 $ 68.08 11,800 $ 84.49

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Note 11. Related Party Transactions Legal services for the Company associated with the collection of delinquent assessments from property owners are performed by a law firm (Business Law Group “BLG”) which was owned solely by Bruce M. Rodgers, the Chief Executive Officer of the Company until and through the date of its initial public offering. Following the initial public offering, Mr. Rodgers transferred his interest in BLG to other attorneys at the firm through a redemption of his interest in the firm, and BLG is now under control of those lawyers. The law firm has historically performed collection work primarily on a deferred billing basis wherein the law firm receives payment for services rendered upon collection from the property owners or at amounts ultimately subject to negotiations with the Company. Under the agreement, the Company pays BLG a fixed monthly fee of $82,000 per month for services rendered. The Company will continue to pay BLG a minimum per unit fee of $700 in any case where there is a collection event and BLG receives no payment from the property owner. This provision has been expanded to also include any unit where the Company has taken title to the unit or where the Association has terminated its contract with either BLG or the Company. Amounts collected from property owners and paid to BLG for 2020 and 2019 were approximately $1,002,200 and $1,052,000, respectively. As of December 31, 2020 and 2019, receivables from property owners for charges ultimately payable to BLG were approximately $1,332,000 and $1,883,000, respectively. Under the related party agreement with BLG in effect during 2020 and 2019, the Company pays all costs (lien filing fees, process and serve costs) incurred in connection with the collection of amounts due from property owners. Any recovery of these collection costs are accounted for as a reduction in expense incurred. The Company incurred expenses related to these types of costs of $127,000 and $203,000, during 2020 and 2019, respectively. The Company also shares office space, personnel and related common expenses with BLG. All shared expenses, including rent, are charged to BLG based on an estimate of actual usage. Any expenses of BLG paid by the Company that have not been reimbursed or settled against other amounts are reflected as due from related parties in the accompanying consolidated balance sheet. The charges for certain shared personnel totaled approximately $240,000 in 2020 and $185,000 in 2019. The Company assessed the collectability of the amount due from BLG and concluded that even though BLG had repaid $252,771 during 2017, it did not have the ability to repay the remaining balance at the end of 2017 and as such took a reserve of approximately $1.4 million for the balance due as of December 31, 2017. In 2020 and 2019, the Company subsequently recouped $500,000 and $190,000, respecively of this write-off. Amounts payable to BLG as of December 31, 2020 was approximately $158,400 and a receivable from BLG as of December 31, 2019 was $152,800. LMF has engaged BLG on behalf of many of its Association clients to service and collect the Accounts and to distribute the proceeds as required by Florida law and the provisions of the purchase agreements between LMF and the Associations. Ms. Gould works as the General Manager of BLG which pays her compensation of $150,000 per year. Consulting Services One of our directors, Martin A. Traber, is Chairman at Skyway Capital Markets which billed us in total $125,000 for a fairness opinion of $110,000 in 2019 and $25,000 in 2019 for a future fairness opinion, the total of which represents less than 1% of Skyway Capital Markets annual revenue. We believe that such services were performed on term at least as favorable to us as those that would have been realized in transactions with unaffiliated entities or individuals. The Company advanced Craven $27,738 and it was settled in 2020.

Investment in Note Receivable R

Investment in Note Receivable Related Party	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Investment in Note Receivable - Related Party	Note 12. Investment in Note Receivable – Related Party On November 2, 2018, the Company entered into a Securities Purchase Agreement with IIU, pursuant to which IIU issued to the Company a Senior Convertible Promissory Note (the “IIU Note”) in the original principal amount of $1,500,000 in exchange for a purchase price of $1,500,000. The maturity date of the IIU Note was 360 days after the date of issuance (subject to acceleration upon an event of default). The IIU Note carried a 3.0% interest rate, with accrued but unpaid interest being payable on the IIU Note’s maturity date. The IIU Note allowed the Company the right on or after the maturity date to convert any unpaid principal and accrued and unpaid interest of the IIU Note into shares of IIU based on a conversion amount which is the fair value of the common shares of IIU at the time. The Company subsequently purchased 100% of the issued and outstanding capital stock of IIU on January 16, 2019 for $5,089,357. On December 20, 2019, the Company loaned $1.5 million to Craven in the form of a secured promissory note (the “Craven Secured Promissory Note”) which had an initial maturity date of April 15, 2020 and carried an interest rate of 0.5% that is to be paid monthly. The Company subsequently extended the due date of the Craven Secured Promissory Note and the monthly interest payments to August 1, 2021. The Craven Secured Promissory Note is secured by, among other things, stock pledge of Craven’s 640,000 common stock of the Company and the assignment of the assets of Craven in favor of the Company. The IIU Note was fully repaid in 2020.

Discontinued Operations

Discontinued Operations	12 Months Ended
	Dec. 31, 2020
IIU Inc. [Member] | Stock Purchase Agreement
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Discontinued Operations	Note 13. Discontinued Operations On January 8, 2020, the Company entered into a Stock Purchase Agreement (“ SPA The Company originally paid $4,969,586 of goodwill. As a result, goodwill was impaired by $1.65 million. The sale of IIU resulted in a gain of $16,428. The impact of this transaction is reflected as a discontinued operation in the consolidated financial statements. Pursuant to ASU 2014-08, the major classes of assets and liabilities of IIU were as follows: As of December 31, 2019 Major classes of assets Cash $ 246,914 Related party receivable 27,738 Prepaid expenses 2,301 Total major classes of current assets – discontinued assets 276,953 Fixed assets, net 27,245 Total major classes of assets – discontinued assets $ 304,198 Accounts payable and accrued expenses $ 144,006 Note payable – short term 100,672 Other liabilities 21,153 Income taxes payable 14,226 Total major classes of current liabilities – discontinued liabilities 280,057 Debt 517,584 Total major classes of liabilities - discontinued liabilities $ 797,641 The operating results for IIU, Inc. have been presented in the accompanying consolidated financial statements of operations for the year ended December 31, 2020 and 2019 as discontinued operations are summarized below: 2020 2019 Revenue $ - $ 639,815 Total operating costs and expenses - 525,616 Gain (Loss) from discontinued operations - 114,199 Other expense, net - 39,320 Gain on disposal of discontinued operations 16,428 - Net gain (loss) from discontinued operations $ 16,428 $ 74,879 Net cash provided by operating activities $ - 290,805 Net cash (used in) provided by investing activities (246,914) 40,879 Net cash used in financing activities (84,771)

Going Concern

Going Concern	12 Months Ended
	Dec. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Going Concern	Note 14 Going Concern The Company’s financial statements are prepared in accordance with GAAP applicable to a going concern , which contemplates realization of assets and the satisfaction of liabilities in the normal course of business within one year after the date the consolidated financial statements are issued. In accordance with Financial Accounting Standards Board, or the FASB, Accounting Standards Update No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40), our management evaluates whether there are conditions or events, considered in aggregate, that raise substantial doubt about our ability to continue as a going concern within one year after the date that the financial statements are issued. The Company has experienced significant operating losses over the past 4 years (2016 through December 31, 2020) with cumulative losses of approximately $18,538,000 and negative cashflows from operations. These losses resulted in the usage of all cash proceeds from the Company’s initial public offering in 2015. For the year ended December 31, 2019, the Company disclosed substantial doubt about the Company’s ability to continue as a going concern The Company received a total of approximately $14.0 million during the year ended December 31, 2020 due to a number of factors including: • Holders of our warrants exercised such warrants for 1.2 million shares in June 2020 which resulted in the Company receiving approximately $2.9 million. • The Company was repaid approximately $1.5 million on a related party receivable. • The Company received $1.25 million for the issuance of 520,838 common shares. • The Company received $8.3 million for the issuance of 10,200,000 common shares. • Holders of our warrants exercised such warrants for 150 thousand in August 2020 which resulted in the Company receiving approximately $0.1 million. As such, we have $11.6 million of cash as of December 31, 2020 which the Company believes will be enough to satisfy our estimated liquidity needs for the 12 months from the issuance of these financial statements. However, there is no assurance that management’s plan will be successful due to the current economic climate in the United States and globally. At the time of issuance of these consolidated financial statements, the Company believes These financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue as a going concern

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Note 15. Subsequent Events From January 10, 2021 to March 1, 2021, warrant holders exercised their option to acquire 11,003,500 shares for $9,562,440. On January 28, 2021, the Company loaned funds to LMFAO Sponsor LLC which in turn purchased 5,738,000 private placement warrants in LMF Acquisition Opportunities Inc (“LMAO”) with an exercise price of $11.50 for $5,738,000. LMAO consummated an IPO for 10,350,000 units which generated gross proceeds of $103,500,000. On January 14, 2021, the holder of the warrant that allowed for the purchase of 777,059 common share elected a cashless option and received 649,179 shares. On February 16, 2021, the Company announced that, as of February 11, 2021, it had completed its obligations under the Purchase Agreement by purchasing approximately $18.2 million of aggregate debt (including principal, accrued interest and fees) from Partners for Growth IV, L.P. and Partners for Growth V, L.P. during the period from January 7, 2021 to February 10, 2021, at a discount for approximately $15.5 million. Under the Settlement Agreement, LFMA received approximately 22.7 million shares from Borqs. The Company sold those shares for approximately $32.6 million, of which approximately $5.7 million was received by LMFA after fulfilling its obligations to the Investor under the Loan Agreement In an additional transaction on February 24, 2021, the Company entered into a specialty finance transaction with Borqs, under which the Company agreed to purchase Senior Secured Convertible Promissory Notes of Borqs (the “Borqs Notes”) up to an aggregate principal amount of $5 million. The Borqs Notes are due in two years, have an annual interest rate of 8%, are convertible into ordinary shares of Borqs at a 10% discount from the market price, and have 90% warrant coverage (with the warrants exercisable at 110% of the conversion price. One-third of the Borqs Notes ($1,666,500) were funded by the Company at the execution of definitive agreements for the transaction, and two-thirds of the Borqs Notes ($3,333,500) to be purchased by the Company are required to be purchased and funded upon the satisfaction of certain conditions, including effectiveness of a registration statement to be filed by Borqs by April 15, 2021. On January 11, 2021, the Company received a letter from outside counsel to Hanfor and Hanfor Owner alleging that the Company’s termination of the Share Exchange Agreement constituted a breach of contract and/or was invalid and further alleging breach of fiduciary duty by the Company’s Chief Executive Officer and Chief Financial Officer. Such letter demanded $1,250,000 (the amount of Hanfor Owner’s investment in common stock of the Company) plus interest and threatened legal action against the Company and the Company’s Chief Executive Officer and Chief Financial Officer. Following the receipt of that letter, on or around January 27, 2021, the Company assisted Hanfor Owner with the removal of the restrictive legend from the shares of Company common stock owned by Hanfor Owner in accordance with SEC Rule 144 to enable the sale thereof by Hanfor Owner, at which time Hanfor Owner’s counsel indicated in writing that Hanfor Owner may have remaining damages. However, there have been no further communications from Hanfor, Hanfor Owner, or their counsel subsequent to the communications that occurred on or around January 27, 2021 .

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations LM Funding America, Inc. (“LMFA” or the “Company”) was formed as a Delaware corporation on April 20, 2015. LMFA was formed for the purpose of completing a public offering and related transactions in order to carry on the business of LM Funding, LLC and its subsidiaries (the “Predecessor”). LMFA is the sole member of LM Funding, LLC and operates and controls all of its businesses and affairs. LM Funding, LLC a Florida limited liability company organized in January 2008 under the terms of an Operating Agreement dated effective January 8, 2008 as amended, had two members: BRR Holding, LLC and CGR 63, LLC. The members contributed their equity interest to LMFA prior to the closing of its initial public offering. The Company acquired IIU, Inc. on January 16, 2019 (“IIU”), which provided global medical insurance products for international travelers, specializing in policies covering high-risk destinations, emerging markets and foreign travelers coming to the United States. All policies were fully underwritten with no claim risk remaining with IIU. IIU was disposed of on January 8, 2020. The Company created two subsidiaries, LMFA Financing LLC on November 21, 2020 and LMFAO Sponsor LLC on October 29, 2020. LMFAO Sponsor LLC created a majority owned subsidiary LMF Acquisition Opportunities Inc. on October 29, 2020. On January 8, 2020, the Company entered into a Stock Purchase Agreement (the “Craven SPA LMFA 4,969,200 During 2019, we were a diversified business with two focuses: • specialty finance company that provides funding to nonprofit community associations primarily located in the state of Florida. We offer incorporated nonprofit community associations, which we refer to as “Associations,” a variety of financial products customized to each Association’s financial needs. Our original product offering consists of providing funding to Associations by purchasing their rights under delinquent accounts that are selected by the Associations arising from unpaid Association assessments. Historically, we provided funding against such delinquent accounts, which we refer to as “Accounts,” in exchange for a portion of the proceeds collected by the Associations from the Account debtors on the Accounts. We have started purchasing Accounts on varying terms tailored to suit each Association’s financial needs, including under our New Neighbor Guaranty™ program. • Travel insurance brokerage company provides global medical insurance products for international travelers through IIU, specializing in policies covering high-risk destinations, emerging markets and foreign travelers coming to the United States. These operations were discontinued on January 16, 2020. During 2020, we begin exploring other specialty finance business opportunities that are complementary to or that can leverage our historical business. Specialty Finance The Company provides funding principally to Associations that are almost exclusively located in Florida. The business of the Company is conducted pursuant to relevant state statutes (the “Statutes”), principally Florida Statute 718.116. The Statutes provide each Association lien rights to secure payment from unit owners (property owners) for assessments, interest, administrative late fees, reasonable attorneys’ fees, and collection costs. In addition, the lien rights granted under the Statutes are given a higher priority (a “Super Lien”) than all other lien holders except property tax liens. The Company provides funding to Associations for their delinquent assessments from property owners in exchange for an assignment of the Association’s right to collect proceeds pursuant to the Statutes. The Company derives its revenues from the proceeds of Association collections. The Statutes specify that the rate of interest an Association (or its assignor) may charge on delinquent assessments is equal to the rate set forth in the Association’s declaration or bylaws. In Florida if a rate is not specified, the statutory rate is equal to 18% but may not exceed the maximum rate allowed by law. Similarly, the Statutes in Florida also stipulate that administrative late fees cannot be charged on delinquent assessments unless so provided by the Association’s declaration or bylaws and may not exceed the greater of $25 or 5% of each delinquent assessment. The Statutes limit the liability of a first mortgage holder for unpaid assessments and related charges and fees (as set forth above) in the event of title transfer by foreclosure or acceptance of deed in lieu of foreclosure. This liability is limited to the lesser of twelve months of regular periodic assessments or one percent of the original mortgage debt on the unit (the “Super Lien Amount”). Recent Developments IIU Acquisition and Disposal On November 2, 2018, the Company invested cash by purchasing a Senior Convertible Promissory Note in the original principal amount of $1,500,000 (the “IIU Note”) from IIU, a synergistic Virginia based travel insurance brokerage company controlled by Craven House North America, LLC (“Craven”) N.A., (whose ownership excluding unexercised warrants was approximately 20% of the Company’s outstanding stock at the time of the acquisition). The maturity date of the IIU Note was 360 dates after the date of issuance (subject to acceleration upon an event of default). The IIU Note carried a 3.0% interest rate, with accrued but unpaid interest being payable on the IIU Note’s maturity date. On January 16, 2019, the Company entered into a Stock Purchase Agreement with Craven (the “IIU SPA”) to purchase all of the outstanding capital stock of IIU as a possible synergistic effort to diversify revenue sources that were believed to be accretive to earnings. IIU provided global medical insurance products for international travelers, specializing in policies covering high-risk destinations, emerging markets and foreign travelers coming to the United States. All policies were fully underwritten with no claim risk remaining with IIU. On January 8, 2020, the Company entered into a Stock Purchase Agreement (“ SPA sold back to Craven all of the issued and outstanding shares of IIU for $3,562,569. The purchase price was paid by Craven through the cancellation of the $3,461,782 Craven Convertible Note plus forgiveness of $100,787 of accrued interest. The Company originally paid $4,969,200 for the purchase of IIU in January 2019, which included a negative $720,386 net fair value of assets and $5,689,586 of goodwill. As a result, goodwill was impaired by $1.65 million. The sale of IIU resulted in a gain of $16,428 Specialty Health Insurance Our former subsidiary IIU through its wholly owned company Wallach and Company (“Wallach”) offers health insurance, travel insurance and other travel services to: • United States citizens and residents traveling abroad • Non United States citizens or residents who travel to the United States These services are typically sold through a policy offered by Wallach and fully underwritten by a third party insurance company. The policies offered include: • HealthCare Abroad - Short term medical insurance, medical evacuation and international assistance for Americans traveling overseas. There is an age limit of 84 years old. • HealthCare Global – up to 6 months coverage for Americans traveling abroad and foreign nationals traveling outside their home countries to destinations other than the United States. There is an age limit of 70 years old. • HealthCare America – up to 90 days coverage for foreign nationals visiting the United States. There is an age limit of 70 years old. • HealthCare International – International medical insurance & assistance for persons living outside their home country. There is an age limit of 70 years old. • HealthCare War – up to 6 months coverage for Americans traveling abroad and foreign nationals traveling outside their home countries to identified war risk areas. There is an age limit of 70 years old. As such, IIU is considered a discontinued operation. We did not report any activity from operations from IIU for the twelve months ended December 31, 2020. Entry into and Termination of Hanfor Share Exchange Agreement On March 23, 2020, the Company entered into a Share Exchange Agreement, dated March 23, 2020 (the “Share Exchange Agreement”), with Hanfor (Cayman) Limited, a Cayman Islands exempted company (“Hanfor”), and BZ Industrial Limited, a British Virgin Islands business company and the sole stockholder of Hanfor (“Hanfor Owner”). The Share Exchange Agreement contemplated a business combination transaction in which Hanfor Owner would transfer and assign to the Company all of the share capital of Hanfor in exchange for a number of shares of the Company’s common stock that would result in Hanfor Owner owning 86.5% of the outstanding common stock of the Company. Under the agreement, Hanfor Owner was required to deliver to the Company audited financial statements for Hanfor for the 2019 and 2018 fiscal years, and such audited financial statements were required to be delivered by May 31, 2020 (subject to extension to June 30, 2020 under specified circumstances). In connection with the execution of the Share Exchange Agreement, the Company and Hanfor Owner entered into a Stock Purchase Agreement, dated March 23, 2020, pursuant to which Hanfor Owner purchased from the Company an aggregate of 520,838 shares of the Company’s common stock at a price of $2.40 per share. Hanfor Owner paid $250,000 cash on March 23, 2020 and the Company received an additional $1,000,000 in April 2020 at which time the Company issued the 520,838 shares. On July 14, 2020, the Company notified Hanfor and Hanfor Owner that the Company had elected to terminate the Share Exchange Agreement due to Hanfor’s inability to provide audited financial statements by June 30, 2020. Although the Company believes that it properly terminated the Share Exchange Agreement, on July 21, 2020, former counsel to Hanfor Owner informed the Company that Hanfor Owner believes that the Company’s termination of the Share Exchange Agreement was not effected in accordance with the terms of the Share Exchange Agreement. In addition, on October 23, 2020, an amended Schedule 13D was filed by Xueyuan Han, the principal owner of Hanfor, with respect to his beneficial ownership of shares of common stock of the Company. In the amended Schedule 13D, Mr. Han alleged, among other things, that the Company misinterpreted the termination provisions of the Share Exchange Agreement, that Hanfor is still within a cure period under the Share Exchange Agreement, and that Hanfor was purporting to appoint a director to the Company’s Board of Directors. Following the filing of the amended Schedule 13D, the Company continues to believe that its termination of the Share Exchange Agreement was proper because, among other reasons, the failure of Hanfor to provide audited financial statements by June 30, 2020, was an uncurable default under the Share Exchange Agreement. Furthermore, the Company was informed by Hanfor prior to such termination that Hanfor would be unable to provide audited financial statements for Hanfor for the foreseeable future because of ongoing legal issues in China. As a result, the Company believes that the purported appointment of Mr. Han to the Company’s Board of Directors was improper and therefore took no action in response to the Schedule 13D. On January 11, 2021, the Company received a letter from newly engaged outside counsel to Hanfor and Hanfor Owner alleging that the Company’s termination of the Share Exchange Agreement constituted a breach of contract and/or was invalid and further alleging breach of fiduciary duty by the Company’s Chief Executive Officer and Chief Financial Officer. Such letter demanded $1,250,000 (the amount of Hanfor Owner’s investment in common stock of the Company) plus interest and threatened legal action against the Company and the Company’s Chief Executive Officer and Chief Financial Officer. Following the receipt of that letter, on or around January 27, 2021, the Company assisted Hanfor Owner with the removal of the restrictive legend from the shares of Company common stock owned by Hanfor Owner in accordance with SEC Rule 144 to enable the sale thereof by Hanfor Owner, at which time Hanfor Owner’s counsel indicated in writing that Hanfor Owner may have remaining damages. However, there have been no further communications from Hanfor, Hanfor Owner, or their counsel subsequent to the communications that occurred on or around January 27, 2021. Nasdaq Listing On March 27, 2020, the Company received a notification letter from the Nasdaq Listing Qualifications department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company has not regained compliance with Nasdaq Continued Listing Rule 5550(a)(2), which requires the Company’s listed securities to maintain a minimum bid price of $1.00 per share (the "Minimum Bid Price Rule"). The notification stated that the Company’s securities would be delisted from the Nasdaq Capital Market on April 7, 2020 unless the Company timely requested a hearing before a Nasdaq Hearing Panel. The Company has timely requested a hearing. However, on April 16, 2020, Nasdaq suspended any enforcement actions relating to bid price issues through June 30, 2020. On July 1, 2020, the Company received a letter from Nasdaq stating that the Company regained compliance with the Minimum Bid Price Rule because the closing price for the Company’s common stock was $1.00 per share or greater for ten (10) consecutive business days. Additionally, on January 3, 2020, the Company received a deficiency letter from Nasdaq, indicating that it was in violation of Listing Rules 5620(a) and 5810(c)(2)(G) by virtue of passing the applicable deadline for holding of its annual general meeting of shareholders for the financial year ended December 31, 2018. The Company resolved this issue by having its annual general meeting of shareholders on May 11, 2020. On September 28, 2020, the Company received a notification letter from the Nasdaq Listing Qualifications department of Nasdaq stating that the Company was not in compliance with the Minimum Bid Price Rule. The notification stated that the Company’s securities would be delisted from the Nasdaq Capital Market on March 29, 2021 unless the Company timely requested a hearing before a Nasdaq Hearing Panel. On February 5, 2021, the Company received a letter from Nasdaq stating that the Company had regained compliance with the Minimum Bid Price Rule because the closing price for the Company’s common stock was $1.00 per share or greater for ten (10) consecutive business days. Reverse Stock Split Approval On May 11, 2020, our shareholders voted in favor of the approval of an amendment to our Certificate of Incorporation, in the event it is deemed advisable by our Board of Directors, to effect an additional reverse stock split of the Company’s issued and outstanding common stock at a ratio within the range of one-for-two (1:2) and one-for-ten (1:10), as determined by the Board of Directors. However, a reverse stock split has not yet been effected pursuant to such approval. Registered Public Offering On August 18, 2020, in connection with an underwritten public offering, we raised approximately $8.2 million in net proceeds by issuing 10.2 million shares of common stock, the exercise of 1.7 million pre-funded warrants and 11.2 million warrants to purchase shares of common stock. Holders of the warrants subsequently exercised such warrants for 150,000 shares of common stock for $135 thousand.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of LMFA and its wholly-owned subsidiaries: LM Funding, LLC; LMF October 2010 Fund, LLC; LMFAO Sponsor LLC (including the 70% owned subsidiary LMF Acquisition Opportunities Inc,), REO Management Holdings, LLC (including all 100% owned subsidiary limited liability companies); LM Funding of Colorado, LLC; LM Funding of Washington, LLC; LM Funding of Illinois, LLC; and LMF SPE #2, LLC and various single purpose limited liability corporations owned by REO Management Holdings, LLC which own various properties. It also includes IIU Inc. and its wholly-owned subsidiary; Wallach & Company. All significant intercompany balances have been eliminated in consolidation
Basis of Presentation	Basis of Presentation The consolidated financial statements have been prepared pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). The Company prepares its consolidated financial statements in conformity with generally accepted accounting principles in the United States (“GAAP”).
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the evaluation of any probable losses on amounts funded under the Company’s New Neighbor Guaranty We are not presently aware of any events or circumstances arising from the COVID-19 pandemic that would require us to update our estimates or judgments or revise the carrying value of our assets or liabilities. Our estimates may change, however, as new events occur and additional information is obtained, and any such changes will be recognized in the condensed consolidated financial statements.
Revenue Recognition	Revenue Recognition Accounting Standards Codification (“ASC”) 606 of the Financial Accounting Standards Board (“FASB”) states an entity needs to conclude at the inception of the contract that collectability of the consideration to which it will be entitled in exchange for the goods and services that will be transferred to the customer is probable. That is, in some circumstances, an entity may not need to assess its ability to collect all of the consideration in the contract. The Company provides funding to Associations by purchasing their rights under delinquent accounts from unpaid assessments due from property owners. Collections on the Accounts may vary greatly in both the timing and amount ultimately recovered compared with the total revenues earned on the Accounts because of a variety of economic and social factors affecting the real estate environment in general . The Company’s contracts with its customers have very specific performance obligations. The Company has determined that the known amount of cash to be realized or realizable on its revenue generating activities cannot be reasonably estimate and as such, classifies its finance receivables as nonaccrual and recognizes revenues in the accompanying statements of income on the cash basis or cost recovery method in accordance with ASC 310-10, Receivables The Company analyzed its remaining revenue streams and concluded there were no changes in revenue recognition with the adoption of the new standard. Under ASC 606, the Company applies the cash basis method to its original product and the cost recovery method to its special product as follows: Finance Receivables—Original Product : Under the Company’s original product, delinquent assessments are funded only up to the Super Lien Amount as discussed above. Recoverability of funded amounts is generally assured because of the protection of the Super Lien Amount. As such, payments by unit owners on the Company’s original product are recorded to income when received in accordance with the provisions of the Florida Statute (718.116(3)) and the provisions of the purchase agreements entered into between the Company and Associations. Those provisions require that all payments be applied in the following order: first to interest, then to late fees, then to costs of collection, then to legal fees expended by the Company and then to assessments owed. In accordance with the cash basis method of recognizing revenue and the provisions of the statute, the Company records revenues for interest and late fees when cash is received. In the event the Company determines the ultimate collectability of amounts funded under its original product are in doubt, payments are applied to first reduce the funded or principal amount. Finance Receivables—Special Product (New Neighbor Guaranty program) : During 2012, the Company began offering associations an alternative product under the program whereby the Company will fund amounts in excess of the Super Lien Amount. Under this special product, the Company purchases substantially all of the delinquent assessments owed to the association, in addition to all accrued interest and late fees, in exchange for payment by the Company of (i) a negotiated amount or (ii) on a going forward basis, all monthly assessments due for a period up to 48 months. Under these arrangements, the Company considers the collection of amounts funded is not assured and under the cost recovery method, cash collected is applied to first reduce the carrying value of the funded or principal amount with any remaining proceeds applied next to interest, late fees, legal fees, collection costs and any amounts due to the Association. Any excess proceeds still remaining are recognized as revenues. If the future proceeds collected are lower than the Company’s funded or principal amount, then a loss is recognized. Net Commission Revenue: The Company acts as an agent in providing health travel insurance policies. As a result, the Company revenue is recorded at net. The Company has determined that the known amount of cash to be realized or realizable on its revenue generating activities can be reasonably estimated and as such, classifies its receivables as accrual and recognizes revenues in the accompanying statements of income on the accrual basis. If a policy is not effective as of the end of a period, then the associated revenue and underwriting costs are deferred until the effective date. The majority of the commission revenue is underwritten by two policy underwriters who pays the Company commissions.
Cash	Cash The Company maintains cash balances at several financial institutions that are insured under the Federal Deposit Insurance Corporation’s (“FDIC”) Transition Account Guarantee Program. Balances with the financial institutions may exceed federally insured limits.
Financing Receivables	Finance Receivables Finance receivables are recorded at the amount funded or cost (by unit). The Company evaluates its finance receivables at each period end for losses that are considered probable and can be reasonably estimated in accordance with ASC 450-20. As discussed above, recoverability of funded amounts under the Company’s original product is generally assured because of the protection of the Super Lien Amount. However, the Company did have an accrual at December 31, 2020 and 2019, respectively for an allowance for credit losses for this program of $141,616 and $112,027. Under the New Neighbor Guaranty The Company will charge any receivable against the allowance for credit losses when management believes the uncollectibility of the receivable is confirmed. The Company considers writing off a receivable when (i) a first mortgage holder who names the association in a foreclosure suit takes title and satisfies an estoppel letter for amounts owed which are less than amounts the Company funded to the association; (ii) a tax deed is issued with insufficient excess proceeds to pay amounts the Company funded to the Association; (iii) an association settles an account for less than amounts the Company funded to the Association or (iv) the Association terminates its relationship with the Company’s designated legal counsel. Upon the occurrence of any of these events, the Company evaluates the potential recovery via a deficiency judgment against the prior owner and the ability to collect upon the deficiency judgment within the statute of limitations period or whether the deficiency judgment can be sold. If the Company determines that collection through a deficiency judgment or sale of a deficiency judgment is not feasible, the Company writes off the unrecoverable receivable amount. Any losses greater than the recorded allowance will be recognized as expenses. Under the Company’s revenue recognition policies, all finance receivables (original product and special product) are classified as nonaccrual.
Real Estate Assets Owned	Real Estate Assets Owned In the event collection of a delinquent assessment results in a unit being sold in a foreclosure auction, the Company has the right to bid (on behalf of the Association) for the delinquent unit as attorney in fact, applying any amounts owed for the delinquent assessment to the foreclosure price as well as any additional funds that the Company, in its sole discretion, decides to pay. If a delinquent unit becomes owned by the Association by acquiring title through an association lien foreclosure auction, by accepting a deed-in-lieu of foreclosure, or by any other way, the Company in its sole discretion may direct the Association to quitclaim title of the unit to the Company. Properties quitclaimed to the Company are in most cases acquired subject to a first mortgage or other liens, and are recognized in the accompanying consolidated balance sheets solely at costs incurred by the Company in excess of original funding. At times, the Company will acquire properties through foreclosure actions free and clear of any mortgages or liens. In these cases, the Company records the estimated fair value of the properties in accordance with ASC 820-10, Fair Value Measurements The Company capitalizes costs incurred to acquire real estate owned properties and any costs incurred to get the units in a condition to be rented. These costs include, but are not limited to, renovation/rehabilitation costs, legal costs, and delinquent taxes. These costs are depreciated over the estimated minimum time period the Company expects to maintain possession of the units. Costs incurred for unencumbered units are depreciated over 20 years and costs for units subject to a first mortgage are depreciated over 3 years. As of December 31, 2020 and 2019, capitalized real estate costs, net of accumulated depreciation, were $18,767 and $21,084, respectively. During the years ended December 31, 2020 and 2019, depreciation expense was $7,740 and $21,444, respectively. If the Company elects to take a quitclaim title to a unit or property held for sale, the Company is responsible to pay all future assessments on a current basis, until a change of ownership occurs. The Association must allow the Company to lease or sell the unit to satisfy obligations for delinquent assessments of the original debt. All proceeds collected from any sale of the unit shall be first applied to all amounts due the Company plus any additional funds paid by the Company to purchase the unit, if applicable. Rental revenues and sales proceeds related to real estate assets held for sale are recognized when earned and realizable. Expenditures for current assessments owed to associations, repairs and maintenance, utilities, etc. are expensed when incurred. If the Association elects (prior to the Company obtaining title through its own election) to maintain ownership and not quitclaim title to the Company, the Association must pay the Company all interest, late fees, collection costs, and legal fees expended, plus the original funding on the unit, which have accrued according to the purchase agreement entered into by the community association and the Company. In this event, the unit will be reassigned to the Association.
Fixed Assets	Fixed Assets The Company capitalizes all acquisitions of fixed assets in excess of $500. Fixed assets are stated at cost. Depreciation is provided on the straight-line method over the estimated useful lives of the assets. Fixed assets are comprised of furniture, computer and office equipment with an assigned useful life of 3 to 5 years. Fixed assets also includes capitalized software costs. Capitalized software costs include costs to develop software to be used solely to meet the Company’s internal needs, consist of employee salaries and benefits and fees paid to outside consultants during the application development stage, and are amortized over their estimated useful life of 5 years. As of December 31, 2020 and 2019, capitalized software costs, net of accumulated amortization, was $nil and $nil, respectively. Amortization expense for capitalized software costs for the periods ended December 31, 2020 and December 31, 2019 was $nil and $21,951, respectively.
Right to Use Assets	Right to Use Assets ASU 2016-02, "Leases (Topic 842)," which requires lessees to recognize right-of-use assets and lease liability, initially measured at present value of the lease payments, on its balance sheet for leases with terms longer than 12 months and classified as either financing or operating leases.
Goodwill	Goodwill Goodwill represents the excess purchase price of acquired businesses over the fair value of the net assets acquired. Goodwill is not amortized, but instead is tested for impairment annually or whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. During 2019, the Company recorded goodwill of approximately $5.7 million which represented amounts for the purchase of IIU. For purposes of the 2019 annual test, we will elected to perform a goodwill impairment analysis to assess whether it was more likely than not that the fair value of these reporting units exceeded their respective carrying values. In performing these assessments, management relied on a number of factors including, but not limited to, macroeconomic conditions, industry and market considerations, cost factors that would have a negative effect on earnings and cash flows, overall financial performance compared with forecasted projections in prior periods, and other relevant reporting unit events, the impact of which are all significant judgments and estimates. This assessment was performed as of December 31, 2019 and showed a $1.65 million impairment due to the sale of IIU on January 8, 2020. The balance of goodwill as of December 31, 2020 and 2019 was approximately $0 and $4.1 million, respectively. The goodwill was removed upon the sale of IIU.
Debt Issue Costs	Debt Issue Costs The Company capitalizes all debt issue costs and amortizes them on a method that approximates the effective interest method over the remaining term of the note payable. The Company did not have any unamortized debt issue costs at December 31, 2020 or 2019. The Company incurred $291,760 debt issuance costs in 2018. Any costs will be presented in the accompanying condensed consolidated balance sheets as other assets until the loan proceeds are received which at that time will be reclassified as a direct deduction from the carrying amount of that debt liability in accordance with Accounting Standards Update (“ASU”) 2015-03.
Debt Discount	Debt Discount On April 2, 2018, the Company entered into a Securities Purchase Agreement (the “SPA”) with a New York-based family office (“Investor”), which was subsequently amended, pursuant to which the Company issued to Investor a Senior Convertible Promissory Note (the “Note”) in the original principal amount of $500,000 in exchange for a purchase price of $500,000. The maturity date of the Note was six months after the date of issuance (subject to acceleration upon an event of default). The Note carried a 10.5% interest rate, with accrued but unpaid interest being payable on the Note’s maturity date. Investor was also issued pursuant to the SPA five- year warrants exercisable at the closing per share bid price on April 2, 2018 to purchase 40,000 shares of the Company’s common stock (the “Warrants”) (see Note 7. Long Term Debt). The 40,000 warrants were valued on the grant date at approximately $3.87 per warrant or a total relative fair value of $154,676 using a Black-Scholes option pricing model with the following assumptions: stock price of $7.40 per share (based on the quoted trading price on the date of grant), volatility of 100.6%, expected term of 5 years, and a risk-free interest rate of 2.55%. The relative fair value of the warrants ($154,676) was treated as a debt discount that was amortized over 6 months in 2018. Due to the subsequent issuance of stock and warrants on October 31, 2018 and also on August 2020, these warrants now represent the right to purchase 777,059 shares of common stock at an exercise price of $0.34 per share. These warrants expire in the year 2023.
Settlement Costs with Associations	Settlement Costs with Associations Associations working with the Company will at times incur costs in connection with litigation initiated by the Company against property owners and or mortgage holders. These costs include settlement agreements whereby the Association agrees to pay some monetary compensation to the opposing party or judgments against the Associations for fees of opposing legal counsel or other damages awarded by the courts. The Company indemnifies the Association for these costs pursuant to the provisions of the agreement between the Company and the Association. Costs incurred by the Company for these indemnification obligations for the year ended December 31, 2020 and 2019 were $31,885 and $68,188, respectively. The Company does not limit its indemnification based on amounts ultimately collected from property owners.
Income Taxes	Income Taxes Income taxes are provided for the tax effects of transactions reported in the consolidated financial statements and consist of taxes currently due plus deferred taxes resulting primarily from the tax effects of temporary differences between financial and income tax reporting. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740-10-30-5, Income Taxes Prior to the Company’s initial public offering in October 2015, the taxable earnings of the Predecessor were included in the tax returns of its members (separate limited liability companies) and taxed depending on personal tax situations. In connection with the Company’s initial public offering, the members contributed ownership interests to the Company (a newly form C-Corporation) and all earnings subsequent to that date (October 23, 2015) are subject to taxes and reflected in the Company’s consolidated financial statements.
Loss Per Share	Loss Per Share Basic loss per share is calculated as net loss to common stockholders divided by the weighted average number of common shares outstanding during the period. The Company issued 11,200,000 of common stock at various times during the month of August 2020 and has weighted average these new shares in calculating loss per share for the relevant period. Diluted loss per share for the period equals basic loss per share as the effect of any stock based compensation awards or stock warrants would be anti-dilutive. The anti-dilutive stock based compensation awards consisted of: For the years ended December 31 2020 2019 Stock Options 19,300 19,300 Stock Warrants – number of shares to purchase 13,590,059 2,879,287
Stock-Based Compensation	Stock-Based Compensation The Company records all equity-based incentive grants to employees and non-employee members of the Company’s Board of Directors in operating expenses in the Company’s Consolidated Statements of Operations based on their fair values determined on the date of grant. Stock-based compensation expense, reduced for estimated forfeitures, is recognized on a straight-line basis over the requisite service period of the award, which is generally the vesting term of the outstanding equity awards.
Contingencies	Contingencies The Company accrues for contingent obligations, including estimated legal costs, when the obligation is probable and the amount is reasonably estimable. As facts concerning contingencies become known, the Company reassesses its position and makes appropriate adjustments to the consolidated financial statements. Estimates that are particularly sensitive to future changes include those related to tax, legal and other regulatory matters.
Fair Value of Financial Instruments	Fair Value of Financial Instruments FASB ASC 825-10, Financial Instruments, requires disclosure of fair value information about financial instruments, whether or not recognized in the balance sheet. The Company engages a third party valuation firm to assist in estimating the fair value of its finance receivables. See Note 13.
Related Party	Related Party ASC 850 - Related Party Disclosures requires disclosure of related party transactions and certain common control relationships. The Company disclosures related party transactions and such transactions are approved by the Company’s Board of Directors. See Note 11.
Risks and Uncertainties	Risks and Uncertainties Funding amounts are secured by a priority lien position provided under Florida law (see discussion above regarding Florida Statute 718.116). However, in the event the first mortgage holder takes title to the property, the amount payable by the mortgagee to satisfy the priority lien is capped under this same statute and would generally only be sufficient to reimburse the Company for funding amounts noted above for delinquent assessments. Amounts paid by the mortgagee would not generally reimburse the Company for interest, administrative late fees and collection costs. Even though the Company does not recognize these charges as revenues until collected, its business model and long-term viability is dependent on its ability to collect these charges. In the event a delinquent unit owner files for bankruptcy protection, the Company may at its option be reimbursed by the Association for the amounts funded (i.e., purchase price) and all collection rights are re-assigned to the Association.
Non-cash Financing and Investing Activities	Non-cash Financing and Investing Activities During the year ended December 31, 2020 and 2019, the Company acquired unencumbered title to certain properties as a result of foreclosure proceedings. Properties were recorded at fair value less cost to dispose of approximately $0 and $0, respectively. The fair value of these properties was first applied to recover the Company’s initial investment with any remaining proceeds applied to interest, late fees, and other amounts owed by the property owner. During the year ended December 31, 2019, the Company acquired fixed assets of $12,892 through a financing loan.
ROU Assets and Lease Obligation	ROU Assets and Lease Obligation – for the year ended December 31, 2020 and 2019 the Company acquired $0 and $331,477, respectively of ROU lease asset and liability.
Financing of Insurance Premium	Financing of Insurance Premium – the Company financed the purchase of various insurance policies during the year ended December 31, 2020 and 2019 using a $193,000 and $127,000, respectively, using a finance agreement. During the year ended December 31, 2020, the Company disposed of IIU which included assets and liabilities listed in Note 13 .
New Accounting Pronouncements	New Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses We have determined that this did not impact our consolidated financial statements. Recent Accounting Pronouncements Recent accounting guidance not discussed above is not applicable, did not have, or is not expected to have a material impact to the Company.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Summary of Anti-dilutive Stock Based Compensation Awards	The anti-dilutive stock based compensation awards consisted of: For the years ended December 31 2020 2019 Stock Options 19,300 19,300 Stock Warrants – number of shares to purchase 13,590,059 2,879,287

Finance Receivables - Origina_2

Finance Receivables - Original Product (Tables)	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Schedule of Finance Receivables for Original Product	Finance receivables for the original product as of December 31, based on the year of funding are approximately as follows: 2020 2019 Funded during the current year $ 25,000 $ 40,000 1-2 years outstanding 12,000 15,000 2-3 years outstanding 9,000 20,000 3-4 years outstanding 12,000 11,000 Greater than 4 years outstanding 200,000 300,000 258,000 386,000 Reserve for credit losses (142,000 ) (112,000 ) Total $ 116,000 $ 274,000

Finance Receivables - Special_2

Finance Receivables - Special Product (New Neighbor Guaranty program) (Tables)	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Schedule of Delinquent Assessments and Accrued Charges	Delinquent assessments and accrued charges under these arrangements as of December 31, are as follows: 2020 2019 Finance receivables, net $ 53,000 $ 129,000 Delinquent assessments 148,000 374,000 Accrued interest and late fees 57,000 235,000 Number of active units with delinquent assessments 20 31

Goodwill and Acquisition (Table

Goodwill and Acquisition (Tables)	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Summary of Consideration Paid and Amounts of Identified Assets Acquired and Liabilities Assumed	The following table summarizes the approximate consideration paid and the amounts of the identified assets acquired and liabilities assumed at the acquisition date: January 16, 2019 Total adjusted purchase price $ 4,969,200 Recognized preliminary amounts of identifiable assets acquired and (liabilities assumed), at fair value: Cash 51,300 Prepaid and other current assets 5,200 Profit on purchased policies 14,600 Property, plant and equipment 17,100 Accounts payable (5,100 ) Accrued expenses and other liabilities (62,686 ) Income taxes (28,500 ) Deferred revenue (9,300 ) Debt (703,000 ) Preliminary estimate of the fair value of assets and liabilities assumed (720,386 ) Goodwill $ 5,689,586

Long-Term Debt and Other Fina_2

Long-Term Debt and Other Financing Arrangements (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Debt	Year ended December 31, 2020 2019 Promissory note issued by a financial institution, bearing interest at 1.0%, interest and no principal payments. The note matures April 30, 2022. Annualized interest is 1.0%. This is a U.S. Small Business Administration’s Paycheck Protection Program (the “PPP Loan”) $ 185,785 $ - Financing agreement with FlatIron capital that is unsecured. Down payment of $19,170 was required upfront and equal installment payments of $11,590 to be made over a 11 month period. The note matured on June 1, 2020. Annualized interest is 6.8% - 69,540 Financing agreement with FlatIron capital that is unsecured. Down payment of $20,746 was required upfront and equal installment payments of $19,251 to be made over a 10 month period. The note matures on May 1, 2021. Annualized interest is 5.95% 96,257 - Senior secured convertible note to Craven House Capital North America LLC (Related Party), bearing interest at 3.0%. Note was issued on January 16, 2019 and either matured on January 14, 2020 or became convertible into 1,436,424 shares of the Company's common stock. The value of the beneficial conversion feature as of January 16, 2019 was zero.* - 3,461,782 Promissory note issued by a financial institution, bearing interest at 9.09%, interest and principal payments due monthly of $323. Note is secured by an automobile and was issued on July 26, 2019 with original borrowings of $12,892. The note matures on August 26, 2023. - 11,802 Promissory note issued by a financial institution, bearing interest at 5.85%, interest and principal payments due monthly of $10,932. Note was issued on May 31, 2018 with original borrowings of $608,000 and subsequent borrowings of $141,000 and repayments of $51,000. The note matures on May 30, 2025 and can be prepaid at any time without penalty. This note is secured by the Company’s inventory, chattel paper, accounts, equipment and general intangible intangibles and deposit accounts. - 606,454 $ 282,042 $ 4,149,578
Schedule of Principal Payments of Debt	Minimum required principal payments on the Company’s debt as of December 31, 2020 are as follows : Years Ending December 31, 2020 $ 96,257 2021 185,785 2022 - 2023 - 2024 - $ 282,042

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Summary of Supplemental Balance Sheet Information Related to Operating Leases	The following table presents supplemental balance sheet information related to operating leases as of December 31, 2020 : Balance Sheet Line Item 2020 2019 Assets ROU assets Right of use asset, net $ 160,667 $ 260,260 Total lease assets $ 160,667 $ 260,260 Liabilities Current lease liabilities Lease liability $ 103,646 $ 94,235 Long-term lease liabilities Lease liability 68,002 171,648 Total lease liabilities $ 171,648 $ 265,883 Weighted-average remaining lease term (in years) 1.6 2.6 Weighted-average discount rate 6.55 % 6.55 %
Summary of Supplemental Cash Flow Information and Non-cash Activity Related to Operating Leases	The following table presents supplemental cash flow information and non-cash activity related to operating leases for the twelve months ended December 31, 2020 and 2019: 2020 2019 Operating cash flow information Cash paid for amounts included in the measurement of lease liabilities $ 94,235 $ 44,765 Non-cash activity: ROU assets obtained in exchange for lease liabilities (lease cancelled) - 26,685 ROU assets obtained in exchange for lease liabilities - 304,792 Total ROU assets obtained in exchange for lease liabilities 331,477
Schedule of Future Minimum Lease Payment Due	The following table presents maturities of operating lease liabilities on an undiscounted basis as of December 31, 2020: Operating Leases 2021 103,646 2022 68,002 171,648

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Components of Provision for Income Taxes	Significant components of the tax expense (benefit) recognized in the accompanying consolidated statements of operations for the years ended December 31, 2020 and December 31, 2019) are as follows: Year Ended Year Ended December 31, 2020 December 31, 2019 Current tax benefit Federal $ (955,977 ) $ (426,931 ) State (197,796 ) (88,334 ) Total current tax benefit (1,153,773 ) (515,265 ) Deferred tax expense 130,403 84,015 Valuation allowance (expense) 1,023,370 431,250 Income tax (reduction) benefit $ - $ -
Schedule of Reconciliation of Tax Provision with Expected Provision	The reconciliation of the income tax computed at the combined federal and state statutory rate of 25.3% for the year ended December 31, 2020 and 25.3% for the year ended December 31, 2019 to the income tax benefit is as follows: Year Ended December 31, Year Ended December 31, 2020 2020 2019 2019 Benefit on net loss $ (1,024,640 ) 25.3 % $ (849,700 ) 28.3 % Nondeductible expenses 1,271 0.0 % 418,450 (13.90 )% Valuation allowance (expense) 1,023,369 (25.3 )% 431,250 (14.30 )% Other items - 0.0 % - 0.0 % Tax benefit/effective rate $ - 0.0 % $ - 0.1 %
Components of Deferred Tax Assets and Liabilities	The significant components of the Company’s deferred tax liabilities and assets as of December 31, 2020 and December 31, 2019 are as follows: As of December 31, 2020 2019 Deferred tax liabilities: Tax expense for internally developed software $ (1,814 ) $ 4,081 Tax depreciation in excess of book (2,917 ) 1,029 Total deferred tax liabilities (4,731 ) 5,110 Deferred tax assets: Loss carryforwards 3,913,579 2,759,806 Step up in basis at contribution to C-Corp 511,052 682,231 Stock option expense 124,876 89,295 Step up in basis - purchase of non-controlling interest 49,950 54,597 Allowance for credit losses 33,466 33,466 Accrued liabilities 20,573 20,572 Total deferred tax asset 4,653,496 3,639,967 Valuation allowance (4,658,226 ) (3,634,857 ) Net deferred tax asset $ - $ (0 )

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Summary of Stock Warrants	The following is a summary of the stock warrant plan activity during the years ended December 31, 2020 and 2019: 2020 2019 Number of Warrants Weighted Average Exercise Price Number of Warrants Weighted Average Exercise Price Warrants Outstanding at Beginning of the year 3,959,287 $5.45 3,843,587 $5.53 Granted 11,200,000 0.90 125,000 2.64 Exercised 1,377,700 2.24 9,300 2.40 Adjustment 1,008,472 0.46 - - Forfeited 1,200,000 12.50 - - Warrants Outstanding and Exercisable at End of Year 13,590,059 $0.84 3,959,287 $5.45
Schedule of Significant Assumptions Used in Option-pricing Model to Fair Value Options Granted	Significant assumptions used in the option-pricing model to fair value options granted were as follows: 2018 Risk-free rate 2.65 % Expected life 6 years Expected volatility 108.00 % Expected dividend —
Summary of Stock Option Plan Activity	The following is a summary of the stock option plan activity during the years ended December 31, 2020 and 2019: 2020 2019 Number of Weighted Average Number of Weighted Average Options Exercise Price Options Exercise Price Options Outstanding at Beginning of the year 19,300 $ 60.51 19,300 $ 60.51 Granted - - - - Exercised - - - - Adjustment - - - - Forfeited - - - - Options Outstanding at End of Year 19,300 $ 60.51 19,300 $ 60.51 Options Exercisable at End of Year 15,134 $ 68.08 11,800 $ 84.49

Discontinued Operations (Tables

Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2020
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Summary of major classes of assets and liabilities and operating results of IIU	2020 2019 Revenue $ - $ 639,815 Total operating costs and expenses - 525,616 Gain (Loss) from discontinued operations - 114,199 Other expense, net - 39,320 Gain on disposal of discontinued operations 16,428 - Net gain (loss) from discontinued operations $ 16,428 $ 74,879 Net cash provided by operating activities $ - 290,805 Net cash (used in) provided by investing activities (246,914) 40,879 Net cash used in financing activities (84,771)
IIU Inc. [Member] | Stock Purchase Agreement
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Summary of major classes of assets and liabilities and operating results of IIU	The impact of this transaction is reflected as a discontinued operation in the consolidated financial statements. Pursuant to ASU 2014-08, the major classes of assets and liabilities of IIU were as follows: As of December 31, 2019 Major classes of assets Cash $ 246,914 Related party receivable 27,738 Prepaid expenses 2,301 Total major classes of current assets – discontinued assets 276,953 Fixed assets, net 27,245 Total major classes of assets – discontinued assets $ 304,198 Accounts payable and accrued expenses $ 144,006 Note payable – short term 100,672 Other liabilities 21,153 Income taxes payable 14,226 Total major classes of current liabilities – discontinued liabilities 280,057 Debt 517,584 Total major classes of liabilities - discontinued liabilities $ 797,641 The operating results for IIU, Inc. have been presented in the accompanying consolidated financial statements of operations for the year ended December 31, 2020 and 2019 as discontinued operations are summarized below:

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional information (Detail)

Jan. 11, 2021USD ($)

Aug. 18, 2020USD ($)shares

May 11, 2020

Mar. 27, 2020$ / shares

Mar. 23, 2020USD ($)

Jan. 08, 2020USD ($)

Jan. 08, 2020USD ($)

Jan. 16, 2019USD ($)

Jan. 15, 2019USD ($)

Nov. 02, 2018USD ($)

Oct. 31, 2018$ / sharesshares

Apr. 02, 2018USD ($)$ / sharesshares

Aug. 31, 2020$ / sharesshares

Jan. 31, 2019USD ($)

Mar. 01, 2021USD ($)

Dec. 31, 2020USD ($)OwnershipSubsidiary$ / shares$ / Assessmentshares

Dec. 31, 2019USD ($)shares

Dec. 31, 2018USD ($)

Dec. 31, 2014

Feb. 24, 2021USD ($)

Jun. 30, 2020$ / sharesshares

Summary Of Significant Accounting Policies [Line Items]

Number of subsidiaries created | Subsidiary

2

Goodwill

$ 4,039,586

Principal amount

$ 282,042

Impairment of goodwill

$ 1,650,000

$ 1,650,000

Common stock, shares outstanding | shares

15,418,801

3,134,261

Minimum bid price | $ / shares

$ 1

Reverse stock split, description

On May 11, 2020, our shareholders voted in favor of the approval of an amendment to our Certificate of Incorporation, in the event it is deemed advisable by our Board of Directors, to effect an additional reverse stock split of the Company’s issued and outstanding common stock at a ratio within the range of one-for-two (1:2) and one-for-ten (1:10), as determined by the Board of Directors.

Reverse stock split percentage of issued common stock

0.1

Reverse stock split percentage of outstanding common stock

0.5

Proceeds from subscription

$ 9,447,535

Common stock, shares issued | shares

11,200,000

15,418,801

3,134,261

Exercise of warrants

$ 3,081,730

$ 22,320

Capitalized real estate costs, net of accumulated depreciation

18,767

21,084

Depreciation expense

7,740

21,444

Operating lease, payments

94,235

44,765

Settlement costs with associations

31,885

68,188

Valuation allowance deferred tax assets

4,658,226

3,634,857

Right of use lease asset and liability

0

331,477

Purchase of insurance policies

193,000

127,000

Financing loan [Member]

Summary Of Significant Accounting Policies [Line Items]

Fixed assets acquired

$ 12,892

ASU 2016-02 [Member]

Summary Of Significant Accounting Policies [Line Items]

Right of use asset, net

160,667

Amortization expense for right to use assets

99,593

Operating lease, payments

$ 94,235

Registered Public Offering [Member]

Summary Of Significant Accounting Policies [Line Items]

Proceeds from subscription

$ 8,200,000

Common stock, shares issued | shares

10,200,000

Warrants issued to purchase of common stock | shares

11,200,000

Exercise of prefunded warrants | shares

1,700,000

Exercise of warrants

$ 135,000

Common stock shares issuable upon exercise of warrants | shares

11,200,000

Stock Warrants [Member]

Summary Of Significant Accounting Policies [Line Items]

Warrants issued to purchase of common stock | shares

777,059

40,000

Number of warrants, exercised | shares

1,377,700

9,300

Common stock shares issuable upon exercise of warrants | shares

777,059

40,000

Warrants, price per share | $ / shares

$ 0.34

$ 6.605

$ 0.34

Warrants right to purchase | shares

777,059

777,059

Warrants expire year

2023

2023

Stock Warrants [Member] | Registered Public Offering [Member]

Summary Of Significant Accounting Policies [Line Items]

Number of warrants, exercised | shares

150,000

Subsequent Event [Member]

Summary Of Significant Accounting Policies [Line Items]

Exercise of warrants

$ 9,562,440

Special Product [Member]

Summary Of Significant Accounting Policies [Line Items]

Delinquent assessments maximum due period purchases basis

48 months

Original Product [Member]

Summary Of Significant Accounting Policies [Line Items]

Allowance for credit losses

$ 142,000

$ 112,000

Maximum [Member]

Summary Of Significant Accounting Policies [Line Items]

Closing bid price of common stock | $ / shares

$ 1

Minimum [Member]

Summary Of Significant Accounting Policies [Line Items]

Estimated useful lives

20 years

Minimum [Member] | First Mortgage [Member]

Summary Of Significant Accounting Policies [Line Items]

Estimated useful lives

3 years

IIU Inc. [Member]

Summary Of Significant Accounting Policies [Line Items]

Purchase price

$ 4,969,200

Net fair value of assets

720,386

Goodwill

5,689,586

5,700,000

Goodwill impairment

$ 16,428

1,650,000

Impairment of goodwill

$ 1,650,000

1,650,000

$ 0

4,100,000

Senior Convertible Promissory Notes [Member] | Subsequent Event [Member]

Summary Of Significant Accounting Policies [Line Items]

Principal amount

$ 5,000,000

Debt instrument, interest rate percentage

8.00%

Stock Purchase Agreement | Craven House Capital North America LLC [Member]

Summary Of Significant Accounting Policies [Line Items]

Sale of stock under agreement

$ 3,562,569

3,562,569

Impairment of goodwill

1,650,000

Stock Purchase Agreement | Craven House Capital North America LLC [Member] | Senior Convertible Promissory Notes [Member]

Summary Of Significant Accounting Policies [Line Items]

Proceeds from issuance of debt funded in repurchase and cancellation of debt

$ 3,461,782

$ 3,461,782

Forgave amount accrued interest

100,787

Securities Purchase Agreement [Member]

Summary Of Significant Accounting Policies [Line Items]

Warrants issued to purchase of common stock | shares

40,000

Common stock shares issuable upon exercise of warrants | shares

40,000

Warrants, price per share | $ / shares

$ 3.87

Fair value of warrants

$ 154,676

Securities Purchase Agreement [Member] | Stock Warrants [Member]

Summary Of Significant Accounting Policies [Line Items]

Stock price | $ / shares

$ 7.40

Debt discount, amortization period

6 months

Securities Purchase Agreement [Member] | Stock Warrants [Member] | Volatility [Member]

Summary Of Significant Accounting Policies [Line Items]

Warrants, assumptions

100.6

Securities Purchase Agreement [Member] | Stock Warrants [Member] | Expected Term [Member]

Summary Of Significant Accounting Policies [Line Items]

Warrants, assumptions

5

Securities Purchase Agreement [Member] | Stock Warrants [Member] | Risk-free Interest Rate [Member]

Summary Of Significant Accounting Policies [Line Items]

Warrants, assumptions

2.55

Securities Purchase Agreement [Member] | IIU Inc. [Member]

Summary Of Significant Accounting Policies [Line Items]

Purchase price

$ 5,089,357

$ 5,089,357

Securities Purchase Agreement [Member] | Senior Convertible Promissory Notes [Member]

Summary Of Significant Accounting Policies [Line Items]

Ownership excluding unexercised warrants percentage

20.00%

Principal amount

$ 1,500,000

Debt instrument term

360 days

Debt instrument, interest rate percentage

3.00%

Purchase price of notes issued

$ 1,500,000

Securities Purchase Agreement [Member] | Hanfor-Owner [Member]

Summary Of Significant Accounting Policies [Line Items]

Ownership excluding unexercised warrants percentage

86.50%

Common stock, shares outstanding | shares

520,838

Sale of stock price per share | $ / shares

$ 2.40

Proceeds from issuance of stock

$ 250,000

Notes receivable

$ 1,000,000

Securities Purchase Agreement [Member] | Hanfor-Owner [Member] | Subsequent Event [Member]

Summary Of Significant Accounting Policies [Line Items]

Amount demanded on breach of contract

$ 1,250,000

Subsidiaries [Member]

Summary Of Significant Accounting Policies [Line Items]

Number of members | Ownership

2

Maximum statutory delinquent assessments rate

18.00%

Maximum administrative late fees | $ / Assessment

25

Percentage of maximum administrative late fees on delinquent assessment

5.00%

Minimum acquisition cost that requires capitalization to fixed assets

$ 500

Capitalized software costs, net of accumulated amortization

0

0

Amortization expense for capitalized software costs

0

21,951

Unamortized debt issue costs

0

0

Debt issuance costs incurred

$ 291,760

Settlement costs with associations

31,885

68,188

Fair value of properties

$ 0

0

Subsidiaries [Member] | Capitalized Software [Member]

Summary Of Significant Accounting Policies [Line Items]

Estimated useful life

5 years

Subsidiaries [Member] | HealthCare Abroad [Member]

Summary Of Significant Accounting Policies [Line Items]

Age limit

84 years

Subsidiaries [Member] | HealthCare Global [Member]

Summary Of Significant Accounting Policies [Line Items]

Age limit

70 years

Subsidiaries [Member] | HealthCare America [Member]

Summary Of Significant Accounting Policies [Line Items]

Age limit

70 years

Subsidiaries [Member] | HealthCare International [Member]

Summary Of Significant Accounting Policies [Line Items]

Age limit

70 years

Subsidiaries [Member] | HealthCare War [Member]

Summary Of Significant Accounting Policies [Line Items]

Age limit

70 years

Subsidiaries [Member] | Special Product [Member]

Summary Of Significant Accounting Policies [Line Items]

Delinquent assessments maximum due period purchases basis

48 months

Allowance for credit losses

$ 6,564

20,016

Subsidiaries [Member] | Original Product [Member]

Summary Of Significant Accounting Policies [Line Items]

Allowance for credit losses

$ 141,616

$ 112,027

Subsidiaries [Member] | Maximum [Member] | Furniture [Member]

Summary Of Significant Accounting Policies [Line Items]

Estimated useful lives

5 years

Subsidiaries [Member] | Maximum [Member] | Computer [Member]

Summary Of Significant Accounting Policies [Line Items]

Estimated useful lives

5 years

Subsidiaries [Member] | Maximum [Member] | Office Equipment [Member]

Summary Of Significant Accounting Policies [Line Items]

Estimated useful lives

5 years

Subsidiaries [Member] | Maximum [Member] | HealthCare Global [Member]

Summary Of Significant Accounting Policies [Line Items]

Coverage period

6 months

Subsidiaries [Member] | Maximum [Member] | HealthCare America [Member]

Summary Of Significant Accounting Policies [Line Items]

Coverage period

90 days

Subsidiaries [Member] | Maximum [Member] | HealthCare War [Member]

Summary Of Significant Accounting Policies [Line Items]

Coverage period

6 months

Subsidiaries [Member] | Minimum [Member] | Furniture [Member]

Summary Of Significant Accounting Policies [Line Items]

Estimated useful lives

3 years

Subsidiaries [Member] | Minimum [Member] | Computer [Member]

Summary Of Significant Accounting Policies [Line Items]

Estimated useful lives

3 years

Subsidiaries [Member] | Minimum [Member] | Office Equipment [Member]

Summary Of Significant Accounting Policies [Line Items]

Estimated useful lives

3 years

Subsidiaries [Member] | Securities Purchase Agreement [Member]

Summary Of Significant Accounting Policies [Line Items]

Warrants issued to purchase of common stock | shares

40,000

Term of warrants issued

5 years

Common stock shares issuable upon exercise of warrants | shares

40,000

Subsidiaries [Member] | Securities Purchase Agreement [Member] | Senior Convertible Promissory Notes [Member]

Summary Of Significant Accounting Policies [Line Items]

Principal amount

$ 500,000

Debt instrument term

6 months

Debt instrument, interest rate percentage

10.50%

Purchase price of notes issued

$ 500,000

LMF Acquisition Opportunities Inc [Member] | Subsidiary Limited Liability [Member]

Summary Of Significant Accounting Policies [Line Items]

Percentage of ownership in subsidiary limited liability companies

70.00%

REO Management Holdings, LLC [Member] | Maximum [Member] | Subsidiary Limited Liability [Member]

Summary Of Significant Accounting Policies [Line Items]

Percentage of ownership in subsidiary limited liability companies

100.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Anti-dilutive Stock Based Compensation Awards (Detail) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Stock Options [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive stock based compensation awards	19,300	19,300
Stock Warrants - Number of Shares to Purchase [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive stock based compensation awards	13,590,059	2,879,287

Finance Receivables - Origina_3

Finance Receivables - Original Product - Schedule of Finance Receivables for Original Product (Detail) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Accounts Notes And Loans Receivable [Line Items]
Finance receivables outstanding	$ 258,000	$ 386,000
Original Product [Member]
Accounts Notes And Loans Receivable [Line Items]
Reserve for credit losses	(142,000)	(112,000)
Finance receivables, net	116,000	274,000
Original Product [Member] | Funded During The Current Year [Member]
Accounts Notes And Loans Receivable [Line Items]
Finance receivables outstanding	25,000	40,000
Original Product [Member] | 1-2 Years Outstanding [Member]
Accounts Notes And Loans Receivable [Line Items]
Finance receivables outstanding	12,000	15,000
Original Product [Member] | 2-3 Years Outstanding [Member]
Accounts Notes And Loans Receivable [Line Items]
Finance receivables outstanding	9,000	20,000
Original Product [Member] | 3-4 Years Outstanding [Member]
Accounts Notes And Loans Receivable [Line Items]
Finance receivables outstanding	12,000	11,000
Original Product [Member] | Greater Than 4 Years Outstanding [Member]
Accounts Notes And Loans Receivable [Line Items]
Finance receivables outstanding	$ 200,000	$ 300,000

Finance Receivables - Special_3

Finance Receivables - Special Product (New Neighbor Guaranty program) - Additional Information (Detail) - Special Product [Member]	12 Months Ended
	Dec. 31, 2020USD ($)
Accounts Notes And Loans Receivable [Line Items]
Delinquent assessments maximum due period purchases basis	48 months
Maximum future contingent payments	$ 3,000

Finance Receivables - Special_4

Finance Receivables - Special Product (New Neighbor Guaranty program) - Schedule of Delinquent Assessments and Accrued Charges (Detail) - Special Product [Member]	12 Months Ended
	Dec. 31, 2020USD ($)Unit	Dec. 31, 2019USD ($)Unit
Accounts Notes And Loans Receivable [Line Items]
Finance receivables, net	$ 53,000	$ 129,000
Delinquent assessments	148,000	374,000
Accrued interest and late fees	$ 57,000	$ 235,000
Number of active units with delinquent assessments | Unit	20	31

New Neighbor Guaranty Allowan_2

New Neighbor Guaranty Allowance for Credit Losses - Additional Information (Detail) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
New Neighbor Guaranty [Member]
Accounts Notes And Loans Receivable [Line Items]
Allowance for credit losses	$ 6,500	$ 20,000

Real Estate Assets Owned - Addi

Real Estate Assets Owned - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020USD ($)Property	Dec. 31, 2019USD ($)Property
Real Estate [Abstract]
Real estate assets owned	$ 18,767	$ 21,084
Number of units in real estate assets owned | Property	1	1
Number of units, net of disposals in real estate assets owned capitalized | Property	0	0
Real estate assets owned capitalized at fair value less cost for disposal	$ 0	$ 0
Real estate portfolio, number of units | Property	8	20
Number of units sold | Property	12	23
Proceeds from sale of units	$ 73,000	$ 190,000
Gain or loss on disposal of real estate assets	0	0
Rental revenues	133,000	227,000
Net of cost recovery	0	0
Monthly contingent obligation for assessments due to associations	$ 3,000	$ 7,000

Goodwill and Acquisition - Addi

Goodwill and Acquisition - Additional Information (Details) - USD ($)	Jan. 08, 2020	Jan. 08, 2020	Apr. 15, 2019	Jan. 16, 2019	Jan. 15, 2019	Nov. 02, 2018	Jan. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Principal amount								$ 282,042
Net cash received from business acquisition								51,327
Impairment of goodwill		$ 1,650,000							$ 1,650,000
IIU Inc. [Member]
Business Acquisition [Line Items]
Purchase price							$ 4,969,200
Impairment of goodwill	$ 1,650,000	1,650,000						$ 0	$ 4,100,000
Securities Purchase Agreement [Member] | IIU Inc. [Member]
Business Acquisition [Line Items]
Percentage of stock purchased				100.00%	100.00%
Purchase price				$ 5,089,357	$ 5,089,357
Securities Purchase Agreement [Member] | Senior Convertible Promissory Notes [Member]
Business Acquisition [Line Items]
Ownership excluding unexercised warrants percentage						20.00%
Principal amount						$ 1,500,000
Purchase price of notes issued						$ 1,500,000
Debt instrument term						360 days
Debt instrument, interest rate percentage						3.00%
Promissory Notes [Member] | IIU Inc. [Member]
Business Acquisition [Line Items]
Extinguishment of principal indebtedness and accrued interest				$ 1,507,375
Convertible Promissory Note [Member] | IIU Inc. [Member]
Business Acquisition [Line Items]
Debt instrument term			12 months	360 days
Debt instrument, interest rate percentage				3.00%
Extinguishment of principal indebtedness and accrued interest				$ 1,500,000
Face amount of debt instrument				$ 3,581,982
Denominator for conversion of convertible note to restricted common shares				$ 2.41
Debt instrument reduced amount				$ 120,200
Stock Purchase Agreement | Craven House Capital North America LLC [Member]
Business Acquisition [Line Items]
Impairment of goodwill		1,650,000
Sale of stock under agreement	3,562,569	3,562,569
Stock Purchase Agreement | Senior Convertible Promissory Notes [Member] | IIU Inc. [Member]
Business Acquisition [Line Items]
Purchase price		3,461,782
Accrued interest	$ 100,787	$ 100,787

Goodwill and Acquisition - Summ

Goodwill and Acquisition - Summary of Consideration Paid and Amounts of Identified Assets Acquired and Liabilities Assumed (Details) - USD ($)	Jan. 16, 2019	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill (Note 6)		$ 4,039,586
IIU, Inc and Wallach and Company [Member]
Business Acquisition [Line Items]
Total adjusted purchase price	$ 4,969,200
Cash	51,300
Prepaid and other current assets	5,200
Profit on purchased policies	14,600
Property, plant and equipment	17,100
Accounts payable	(5,100)
Accrued expenses and other liabilities	(62,686)
Income taxes	(28,500)
Deferred revenue	(9,300)
Debt	(703,000)
Preliminary estimate of the fair value of assets and liabilities assumed	(720,386)
Goodwill (Note 6)	$ 5,689,586

Long-Term Debt and Other Fina_3

Long-Term Debt and Other Financing Arrangements - Schedule of Debt (Detail) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Notes payable	$ 282,042	$ 4,149,578
Promissory note issued by a financial institution maturing in April 30, 2022 [Member]
Debt Instrument [Line Items]
Notes payable	185,785
Financing agreement with FlatIron capital maturing in June 1, 2020 [Member]
Debt Instrument [Line Items]
Notes payable		69,540
Financing agreement with FlatIron capital maturing in May 1, 2021 [Member]
Debt Instrument [Line Items]
Notes payable	$ 96,257
Convertible Senior Note [Member]
Debt Instrument [Line Items]
Notes payable		3,461,782
Promissory note issued by a financial institution maturing in August 26, 2023 [Member]
Debt Instrument [Line Items]
Notes payable		11,802
Promissory note issued by a financial institution maturing in May 30, 2025 [Member]
Debt Instrument [Line Items]
Notes payable		$ 606,454

Long-Term Debt and Other Fina_4

Long-Term Debt and Other Financing Arrangements - Schedule of Debt (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2020USD ($)shares
Debt Instrument [Line Items]
Principal amount	$ 282,042
Promissory note issued by a financial institution maturing in April 30, 2022 [Member]
Debt Instrument [Line Items]
Down payment for note payable	$ 0
Debt instrument, maturity date	Apr. 30, 2022
Debt instrument, interest rate percentage	1.00%
Financing agreement with FlatIron capital maturing in June 1, 2020 [Member]
Debt Instrument [Line Items]
Down payment for note payable	$ 19,170
Debt instrument, maturity date	Jun. 1, 2020
Debt instrument, interest rate percentage	6.80%
Debt instrument, periodic payment	$ 11,590
Debt instrument due period	11 months
Financing agreement with FlatIron capital maturing in May 1, 2021 [Member]
Debt Instrument [Line Items]
Down payment for note payable	$ 20,746
Debt instrument, maturity date	May 1, 2021
Debt instrument, interest rate percentage	5.95%
Debt instrument, periodic payment	$ 19,251
Debt instrument due period	10 months
Convertible Senior Note [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Jan. 14, 2020
Debt instrument, interest rate percentage	3.00%
Debt instrument, issuance date	Jan. 16, 2019
Debt instrument, to be converted shares | shares	1,436,424
Debt instrument, convertible, beneficial conversion feature	$ 0
Promissory note issued by a financial institution maturing in August 26, 2023 [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Aug. 26, 2023
Debt instrument, interest rate percentage	9.09%
Debt instrument, periodic payment	$ 323
Debt instrument, issuance date	Jul. 26, 2019
Principal amount	$ 12,892
Promissory Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	May 30, 2025
Debt instrument, interest rate percentage	5.85%
Debt instrument, periodic payment	$ 10,932
Debt instrument, issuance date	May 31, 2018
Principal amount	$ 608,000
Subsequent borrowings	141,000
Repayments	$ 51,000

Long-Term Debt and Other Fina_5

Long-Term Debt and Other Financing Arrangements - Additional Information (Detail) - USD ($)	Jan. 08, 2020	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Notes payable		$ 282,042	$ 4,149,578
Promissory note issued by a financial institution maturing in April 30, 2022 [Member]
Debt Instrument [Line Items]
Notes payable		$ 185,785
Debt instrument, interest rate percentage		1.00%
Debt Instrument Maturity Period		2 years
Promissory note issued by a financial institution maturing in April 30, 2022 [Member] | US Federal Government Coronavirus Aid, Relief, and Economic Security Act [Member]
Debt Instrument [Line Items]
Notes payable		$ 185,785
Stock Purchase Agreement | Senior Convertible Promissory Notes [Member]
Debt Instrument [Line Items]
Repayments of IIU pursuant to the terms of the craven SPA	$ 3,500,000

Long-Term Debt and Other Fina_6

Long-Term Debt and Other Financing Arrangements - Schedule of Principal Payments of Debt (Detail)	Dec. 31, 2020USD ($)
Debt Instruments [Abstract]
2020	$ 96,257
2021	185,785
Principal amount	$ 282,042

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Dec. 14, 2020	Dec. 31, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Lease expiration period		37 months
Operating lease discount rate		6.50%
Operating lease beginning date		Mar. 1, 2014
Operating lease ending date		Jul. 31, 2019
Rent expense		$ 94,000	$ 186,600
New Office Lease [Member]
Loss Contingencies [Line Items]
Operating lease beginning date		Jul. 15, 2019
Operating lease ending date		Jul. 31, 2022
Business Law Group [Member]
Loss Contingencies [Line Items]
Sublease Income		$ 4,900
Minimum [Member]
Loss Contingencies [Line Items]
Operating lease remaining lease term		1 year
Maximum [Member]
Loss Contingencies [Line Items]
Operating lease remaining lease term		3 years
Maximum [Member] | Purchase Agreement [Member]
Loss Contingencies [Line Items]
Loan Receivable	$ 18,000,000

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Supplemental Balance Sheet Information Related to Operating Leases (Detail) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Assets And Liabilities Lessee [Abstract]
ROU assets	$ 160,667	$ 260,260
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	ROU assets	ROU assets
Current lease liabilities	$ 103,646	$ 94,235
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Total lease liabilities	Total lease liabilities
Long-term lease liabilities	$ 68,002	$ 171,648
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Total lease liabilities	Total lease liabilities
Total lease liabilities	$ 171,648	$ 265,883
Weighted-average remaining lease term (in years)	1 year 7 months 6 days	2 years 7 months 6 days
Weighted-average discount rate	6.55%	6.55%

Commitments and Contingencies_3

Commitments and Contingencies - Summary of Supplemental Cash Flow Information and Non-cash Activity Related to Operating Leases (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating cash flow information
Cash paid for amounts included in the measurement of lease liabilities	$ 94,235	$ 44,765
Non-cash activity:
ROU assets obtained in exchange for lease liabilities (lease cancelled)		26,685
ROU assets obtained in exchange for lease liabilities		304,792
Total ROU assets obtained in exchange for lease liabilities		$ 331,477

Commitments and Contingencies_4

Commitments and Contingencies - Schedule of Future Minimum Lease Payment Due (Detail)	Dec. 31, 2020USD ($)
Commitments And Contingencies Disclosure [Abstract]
2021	$ 103,646
2022	68,002
Total future minimum lease payments due	$ 171,648

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating Loss Carryforwards [Line Items]
Valuation allowance	$ 4,658,226	$ 3,634,857
Combined federal and state statutory rate	25.30%	25.30%
U.S. and Various State Authorities [Member]
Operating Loss Carryforwards [Line Items]
Taxe examination, year under examination	2015 2016 2017 2018 2019 2020
Predecessor [Member]
Operating Loss Carryforwards [Line Items]
Net deferred tax asset						$ 91,068
Redemption consideration, taxable gain						5,250,000
Fresh-start adjustment, increase in equity						1,970,000
Predecessor [Member] | Federal [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 1,950,000	$ 2,033,000	$ 1,408,000	$ 2,977,000	$ 3,850,000	$ 512,000
Net operating loss carryforwards expiration period			2038	2037	2036	2035

Income Taxes - Components of Pr

Income Taxes - Components of Provision for Income Taxes (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Current tax benefit
Federal	$ (955,977)	$ (426,931)
State	(197,796)	(88,334)
Total current tax benefit	(1,153,773)	(515,265)
Deferred tax expense	130,403	84,015
Valuation allowance (expense)	$ 1,023,370	$ 431,250

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Tax Provision with Expected Provision (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Benefit on net loss	$ (1,024,640)	$ (849,700)
Nondeductible expenses	1,271	418,450
Valuation allowance (expense)	$ 1,023,369	$ 431,250
Benefit on net loss, percentage	25.30%	28.30%
Nondeductible expenses, percentage	0.00%	(13.90%)
Valuation allowance (expense), percentage	(25.30%)	(14.30%)
Other items, percentage	0.00%	0.00%
Tax benefit/effective rate, percentage	0.00%	0.10%

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Deferred tax liabilities:
Tax expense for internally developed software	$ (1,814)	$ 4,081
Tax depreciation in excess of book	(2,917)	1,029
Total deferred tax liabilities	(4,731)	5,110
Deferred tax assets:
Loss carryforwards	3,913,579	2,759,806
Stock option expense	124,876	89,295
Step up in basis - purchase of non-controlling interest	49,950	54,597
Allowance for credit losses	33,466	33,466
Accrued liabilities	20,573	20,572
Total deferred tax asset	4,653,496	3,639,967
Valuation allowance	(4,658,226)	(3,634,857)
Net deferred tax asset		0
C Corporation [Member]
Deferred tax assets:
Step up in basis at contribution	$ 511,052	$ 682,231

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)

Aug. 18, 2020

May 11, 2020

Mar. 23, 2020

Oct. 31, 2018

Oct. 16, 2018

May 29, 2018

Apr. 30, 2020

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Aug. 31, 2020

Apr. 02, 2018

Oct. 23, 2015

Class Of Stock [Line Items]

Cash received for shares issued

$ 1,000,000

$ 125,450

Common stock, par value

$ 0.001

$ 0.001

Net proceeds of the offering

$ 8,198,000

$ 1,250,000

Proceeds from exercise of warrants

$ 3,081,730

$ 22,320

Reverse stock split, description

On May 11, 2020, our shareholders voted in favor of the approval of an amendment to our Certificate of Incorporation, in the event it is deemed advisable by our Board of Directors, to effect an additional reverse stock split of the Company’s issued and outstanding common stock at a ratio within the range of one-for-two (1:2) and one-for-ten (1:10), as determined by the Board of Directors.

Number of options granted

0

0

Weighted average exercise price of options

$ 0

$ 0

Options granted, weighted average grant date fair value

$ 4.68

Recognized compensation expense of stock options

$ 15,000

$ 25,000

Share-based compensation arrangement by share-based payment award

0

Remaining unrecognized compensation cost

$ 15,000

$ 18,000

Stock options remaining life, years

6 years

7 years

Aggregate intrinsic value of outstanding common stock options

$ 0

0

Options Issued Prior to 2017 [Member]

Class Of Stock [Line Items]

Recognized compensation expense of stock options

$ 9,000

$ 18,800

Employee Two [Member]

Class Of Stock [Line Items]

Number of options granted

10,000

Weighted average exercise price of options

$ 10

Vesting period of stock options

3 years

Maximum term of an option from the date of grant

10 years

Options granted, weighted average grant date fair value

$ 4.68

Recognized compensation expense of stock options

$ 35,000

Stock Warrants [Member]

Class Of Stock [Line Items]

Warrants issued to purchase of common stock

777,059

40,000

Warrants issued to purchase of common stock average exercise price per share

$ 0.34

$ 0.34

$ 6.605

Number of warrants, exercised

1,377,700

9,300

Warrants, year of expiration

2023

Warrants, weighted average remaining life

2 years 3 months

Registered Public Offering [Member]

Class Of Stock [Line Items]

Common stock issued

8,300,000

Common stock, par value

$ 0.001

Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right

1

Warrants issued to purchase of common stock

11,200,000

Shares issued, price per share

$ 0.90

Net proceeds of the offering

$ 8,197,535

Proceeds from exercise of warrants

$ 135,000

Registered Public Offering [Member] | Pre-Funded Warrants [Member]

Class Of Stock [Line Items]

Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right

1

Warrants issued to purchase of common stock

1,700,000

Warrants issued to purchase of common stock average exercise price per share

$ 0.01

Shares issued, price per share

$ 0.89

Registered Public Offering [Member] | Stock Warrants [Member]

Class Of Stock [Line Items]

Number of warrants, exercised

150,000

Over-Allotment Option [Member]

Class Of Stock [Line Items]

Common stock issued

200,000

Initial Public Offering [Member] | Stock Warrants [Member]

Class Of Stock [Line Items]

Warrants issued to purchase of common stock

1,200,000

Warrants issued to purchase of common stock average exercise price per share

$ 12.50

$ 12.50

Reverse stock split, description

one-tenth

Warrants, weighted average price

$ 12.50

Warrants, year of expiration

2020

2020

Warrants, weighted average remaining life

11 months 8 days

Warrants, aggregate intrinsic value outstanding

$ 256,429

$ 0

Secondary Offering [Member]

Class Of Stock [Line Items]

Proceeds from exercise of warrants

$ 2,945,252

$ 22,320

Secondary Offering [Member] | Stock Warrants [Member]

Class Of Stock [Line Items]

Warrants issued to purchase of common stock

2,500,000

Warrants issued to purchase of common stock average exercise price per share

$ 2.40

$ 0.67

Number of warrants, exercised

1,227,700

9,300

Warrants, year of expiration

2023

Warrants, weighted average remaining life

2 years 9 months 18 days

Secondary Offering [Member] | Additional Warrants [Member]

Class Of Stock [Line Items]

Warrants issued to purchase of common stock

125,000

Warrants issued to purchase of common stock average exercise price per share

$ 2.64

Warrants expiration date

May 2, 2022

Secondary Offering 1 [Member]

Class Of Stock [Line Items]

Proceeds from exercise of warrants

$ 135,000

Secondary Offering 1 [Member] | Stock Warrants [Member]

Class Of Stock [Line Items]

Warrants issued to purchase of common stock

11,200,000

Warrants issued to purchase of common stock average exercise price per share

$ 0.90

Number of warrants, exercised

150,000

Warrants, year of expiration

2025

Warrants, weighted average remaining life

4 years 7 months 17 days

Share Exchange Agreement [Member]

Class Of Stock [Line Items]

Common stock issued

520,833

Denominator for conversion of convertible note to restricted common shares

$ 2.40

Cash received for shares issued

$ 250,000

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Stock Warrants (Detail) - Stock Warrants [Member] - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Class Of Warrant Or Right [Line Items]
Number of Warrants, beginning balance	3,959,287	3,843,587
Number of warrants, granted	11,200,000	125,000
Number of warrants, exercised	1,377,700	9,300
Number of Warrants, adjustment	1,008,472
Number of warrants, forfeited	1,200,000
Number of warrants, ending banlance	13,590,059	3,959,287
Weighted Average Exercise Price, beginning balance	$ 5.45	$ 5.53
Weighted Average Exercise Price, granted	0.90	2.64
Weighted Average Exercise Price, excercised	2.24	2.40
Weighted Average Exercise Price, adjustment	0.46
Weighted Average Exercise Price, forfeited	12.50
Weighted Average Exercise Price, ending balance	$ 0.84	$ 5.45

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Significant Assumptions Used in Option-pricing Model to Fair Value Options Granted (Detail)	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Risk-free rate	2.65%
Expected life	6 years
Expected volatility	108.00%

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Stock Option Plan Activity (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Number of Options
Number of Options, Outstanding at Beginning of the year	19,300	19,300
Number of Options, Granted	0	0
Number of Options, Outstanding at End of Year	19,300	19,300
Number of Options, Exercisable at End of Year	15,134	11,800
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding at Beginning Balance	$ 60.51	$ 60.51
Weighted Average Exercise Price, Granted	0	0
Weighted Average Exercise Price, Outstanding at Ending Balance	60.51	60.51
Weighted Average Exercise Price, Exercisable	$ 68.08	$ 84.49

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	Jan. 02, 2017USD ($)$ / Unit	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2017USD ($)
Related Party Transaction [Line Items]
Receivables from property owners ultimately payable to law firm		$ 158,399
Restructuring charges		240,000	$ 185,000
Subsidiaries [Member]
Related Party Transaction [Line Items]
Recoveries incurred		157,000	221,000
Collection from property owners		1,002,200	1,052,000
Business Law Group [Member]
Related Party Transaction [Line Items]
Monthly payment for cases	$ 82,000
Minimum fee paid per unit | $ / Unit	700
Receivables from property owners ultimately payable to law firm		1,332,000	1,883,000
Reserve balance due to related parties				$ 1,400,000
Receivable from related party		158,400	152,800
Repayment received from related party				$ 252,771
Amount written-off regained		500,000	190,000
Payments of additional compensation		150,000
Business Law Group [Member] | Out of Pocket Collection Costs [Member]
Related Party Transaction [Line Items]
Expenses incurred by company		127,000	203,000
Skyway Capital Markets [Member]
Related Party Transaction [Line Items]
Total fees received for providing fairness opinion		$ 125,000
Fees received for providing fairness opinion			110,000
Skyway Capital Markets [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Percentage of Annual Revenue		1.00%
Skyway Capital Markets [Member] | Future Services [Member]
Related Party Transaction [Line Items]
Fees received for providing fairness opinion			$ 25,000
Craven [Member]
Related Party Transaction [Line Items]
Receivable from related party		$ 27,738
Settlement date		2020

Investment in Note Receivable_2

Investment in Note Receivable Related Party - Additional information (Detail) - USD ($)	Dec. 20, 2019	Jan. 16, 2019	Jan. 15, 2019	Nov. 02, 2018	Jan. 31, 2019	Dec. 31, 2020
Related Party Transaction [Line Items]
Principal amount						$ 282,042
IIU Inc. [Member]
Related Party Transaction [Line Items]
Purchase price					$ 4,969,200
Securities Purchase Agreement [Member] | IIU Inc. [Member]
Related Party Transaction [Line Items]
Percentage of stock purchased		100.00%	100.00%
Purchase price		$ 5,089,357	$ 5,089,357
Senior Convertible Promissory Notes [Member] | Securities Purchase Agreement [Member]
Related Party Transaction [Line Items]
Principal amount				$ 1,500,000
Purchase price of notes issued				$ 1,500,000
Debt Instrument Maturity Period				360 days
Debt instrument, interest rate percentage				3.00%
Craven Secured Promissory Note [Member] | Craven [Member]
Related Party Transaction [Line Items]
Principal amount	$ 1,500,000
Debt instrument, interest rate percentage	0.50%
Debt instrument, due date	Apr. 15, 2020
Debt Instrument, extended maturity date	Aug. 1, 2021
Common shares pledged other than secured promissory notes	640,000

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Details) - USD ($)	Jan. 08, 2020	Jan. 16, 2019	Dec. 31, 2020	Dec. 31, 2019
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Goodwill impairment loss	$ 1,650,000			$ 1,650,000
Stock Purchase Agreement | IIU Inc. [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Gain on disposal of discontinued operations		$ 16,428	$ 16,428
Stock Purchase Agreement | Craven House Capital North America LLC [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Sale of stock under agreement	3,562,569
Goodwill paid	4,969,586
Goodwill impairment loss	1,650,000
Stock Purchase Agreement | Craven House Capital North America LLC [Member] | Senior Convertible Promissory Notes [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from issuance of debt funded in repurchase and cancellation of debt	$ 3,461,782	3,461,782
Forgave amount accrued interest		$ 100,787

Discontinued Operations - Summa

Discontinued Operations - Summary of major classes of assets and liabilities and operating results of IIU (Detail) - IIU Inc. [Member] - Stock Purchase Agreement - USD ($)	Jan. 16, 2019	Dec. 31, 2020	Dec. 31, 2019
Major classes of assets
Cash			$ 246,914
Related party receivable			27,738
Prepaid expenses			2,301
Total major classes of current assets – discontinued assets			276,953
Fixed assets, net			27,245
Total major classes of assets – discontinued assets			304,198
Accounts payable and accrued expenses			144,006
Note payable – short term			100,672
Other liabilities			21,153
Income taxes payable			14,226
Total major classes of current liabilities – discontinued liabilities			280,057
Debt			517,584
Total major classes of liabilities - discontinued liabilities			797,641
Revenue			639,815
Total operating costs and expenses			525,616
Gain (Loss) from discontinued operations			114,199
Other expense, net			39,320
Gain on disposal of discontinued operations	$ 16,428	$ 16,428
Net gain (loss) from discontinued operations		16,428	74,879
Net cash provided by operating activities			290,805
Net cash (used in) provided by investing activities		$ (246,914)	40,879
Net cash used in financing activities			$ (84,771)

Going Concern - Additional Info

Going Concern - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Aug. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Financial Support For Nonconsolidated Legal Entity [Line Items]
Cumulative operating losses		$ 18,538,000
Exercise of warrants		3,081,730	$ 22,320
Proceeds from subscription		$ 9,447,535
Common stock, shares issued	11,200,000	15,418,801	3,134,261
Cash		$ 11,552,943	$ 822,909
Going Concerns
Financial Support For Nonconsolidated Legal Entity [Line Items]
Proceeds from issuance of common stock warrants exercised and related party receivable		$ 14,000,000
Warrants exercised	150,000	1,200,000
Exercise of warrants	$ 100,000	$ 2,900,000
Related party receivable		1,500,000
Proceeds from subscription		$ 1,250,000
Common stock, shares issued		520,838
Cash		$ 11,600,000
Going Concerns | Common Stock [Member]
Financial Support For Nonconsolidated Legal Entity [Line Items]
Proceeds from subscription		$ 8,300,000
Common stock, shares issued		10,200,000

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($)	Feb. 24, 2021	Feb. 16, 2021	Jan. 28, 2021	Jan. 14, 2021	Mar. 01, 2021	Dec. 31, 2020	Dec. 31, 2019	Feb. 10, 2021	Jan. 11, 2021
Subsequent Event [Line Items]
Exercise of warrants						$ 3,081,730	$ 22,320
Principal amount						282,042
Common stock value						$ 15,419	$ 3,134
Subsequent Event [Member]
Subsequent Event [Line Items]
Number of shares option excercised					11,003,500
Exercise of warrants					$ 9,562,440
Purchased aggregate of private placement warrants			5,738,000
Investment warrants exercise price			$ 11.50
Proceeds from issuance of private placement			$ 5,738,000
Number of units sold in initial public offering			10,350,000
Proceeds from issuance initial public offering			$ 103,500,000
Purchase of shares of common stock				777,059
Number of shares received in cashless exercise				649,179
Purchase price of aggregate debt		$ 18,200,000
Discount amount								$ 15,500,000
Number of shares received		22,700,000
Total amount available for sale of shares		$ 32,600,000
Proceeds from sale of debt instrument		$ 5,700,000
Debt instument amount funded for transaction	$ 1,666,500
Part of transaction purchased, amount	3,333,500
Subsequent Event [Member] | Shares Exchange Agreement [Member]
Subsequent Event [Line Items]
Common stock value									$ 1,250,000
Subsequent Event [Member] | Senior Convertible Promissory Notes [Member]
Subsequent Event [Line Items]
Principal amount	$ 5,000,000
Debt Instrument Maturity Period	2 years
Debt instrument, interest rate percentage	8.00%
Debt instrument discount rate percentage	10.00%
Debt instrument warrant coverage rate	90.00%
Debt instrument convertible conversion price rate	110.00%