Lazydays (GORV) 10-Q 31 Jul 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Jul. 29, 2020
Cover [Abstract]
Entity Registrant Name	Lazydays Holdings, Inc.
Entity Central Index Key	0001721741
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity's Reporting Status Current	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,592,814
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets
Cash	$ 62,050	$ 31,458
Receivables, net of allowance for doubtful accounts of $535 and $382 at June 30,2020 and December 31, 2019, respectively	30,815	16,025
Inventories	100,280	160,864
Income tax receivable		326
Prepaid expenses and other	3,169	2,999
Total current assets	196,314	211,672
Property and equipment, net	90,809	86,876
Operating lease assets	17,110
Goodwill	40,616	38,979
Intangible assets, net	69,520	68,854
Other assets	353	255
Total assets	414,722	406,636
Current liabilities
Accounts payable, accrued expenses and other current liabilities	31,553	23,855
Income taxes payable	3,444
Floor plan notes payable, net of debt discount	92,256	143,949
Financing liability, current portion	1,462	936
Long-term debt, current portion	17,332	5,993
Operating lease liability, current portion	3,164
Total current liabilities	149,211	174,733
Long term liabilities
Financing liability, non-current portion, net of debt discount	71,403	63,557
Long term debt, non-current portion, net of debt discount	15,679	15,573
Operating lease liability, non-current portion	13,616
Deferred tax liability	16,450	16,450
Total liabilities	266,359	270,313
Commitments and Contingencies
Series A Convertible Preferred Stock; 600,000 shares, designated, issued, and outstanding as of June 30, 2020 and December 31, 2019; liquidation preference of $69,237 and $65,910 as of June 30, 2020 and December 31, 2019, respectively	64,221	60,893
Stockholders' Equity
Preferred Stock, $0.0001 par value; 5,000,000 shares authorized;
Common stock, $0.0001 par value; 100,000,000 shares authorized; 8,548,524 and 8,506,666 shares issued and 8,407,225 and 8,428,666 outstanding at June 30, 2020 and December 31, 2019, respectively
Additional paid-in capital	78,712	79,186
Treasury Stock, at cost, 141,299 and 78,000 shares at June 30, 2020 and December 31, 2019, respectively	(499)	(314)
Retained earnings (accumulated deficit)	5,929	(3,442)
Total stockholders' equity	84,142	75,430
Total liabilities and stockholders' equity	$ 414,722	$ 406,636

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 535	$ 382
Series A convertible preferred stock, shares designated	600,000	600,000
Series A convertible preferred stock, shares issued	600,000	600,000
Series A convertible preferred stock, shares outstanding	600,000	600,000
Series A convertible preferred stock, liquidation preference, value	$ 69,237	$ 65,910
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	5,000,000	5,000,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	8,548,524	8,506,666
Common stock, shares outstanding	8,407,225	8,428,666
Treasury stock, shares	141,299	78,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues
New and pre-owned vehicles	$ 191,505	$ 149,046	$ 358,693	$ 301,680
Other	22,456	19,500	46,122	39,923
Total revenues	213,961	168,546	404,815	341,603
Cost applicable to revenues (excluding depreciation and amortization shown below)
New and pre-owned vehicles (including adjustments to the LIFO reserve of ($240), $359, ($49) and $606, respectively)	164,377	128,376	307,779	259,493
Other	5,631	4,692	11,610	9,685
Total cost applicable to revenue	170,008	133,068	319,389	269,178
Transaction costs	45	87	301	315
Depreciation and amortization	2,671	2,640	5,308	5,335
Stock-based compensation	340	1,112	1,020	2,626
Selling, general, and administrative expenses	28,269	25,151	59,385	51,603
Income from operations	12,628	6,488	19,412	12,546
Other income/expenses
Loss on sale of property and equipment	(6)		(8)	(2)
Interest expense	(2,018)	(2,531)	(4,513)	(5,558)
Total other expense	(2,024)	(2,531)	(4,521)	(5,560)
Income before income tax expense	10,604	3,957	14,891	6,986
Income tax expense	(2,536)	(2,099)	(3,836)	(3,284)
Net income	8,068	1,858	11,055	3,702
Dividends on Series A Convertible Preferred Stock	(1,684)	(1,525)	(3,328)	(2,709)
Net income attributable to common stock and participating securities	$ 6,384	$ 333	$ 7,727	$ 993
EPS:
Basic and diluted income per share	$ 0.39	$ 0.02	$ 0.48	$ 0.06
Weighted average shares outstanding - basic and diluted	9,715,677	9,811,107	9,736,133	9,753,491

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Adjustments to LIFO reserve	$ 240	$ 359	$ 49	$ 606

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-In Capital [Member]	(Accumulated Deficit) Retained Earnings [Member]	Total
Balance at Dec. 31, 2018			$ 80,606	$ (4,156)	$ 76,450
Balance, shares at Dec. 31, 2018	8,471,608
Repurchase of Unit Purchase Options			(500)		(500)
Stock-based compensation			1,514		1,514
Dividends on Series A preferred stock			(1,184)		(1,184)
Net income				1,844	1,844
Balance at Mar. 31, 2019			80,436	(2,312)	78,124
Balance, shares at Mar. 31, 2019	8,471,608
Balance at Dec. 31, 2018			80,606	(4,156)	76,450
Balance, shares at Dec. 31, 2018	8,471,608
Net income					3,702
Balance at Jun. 30, 2019			80,023	(454)	79,569
Balance, shares at Jun. 30, 2019	8,471,608
Balance at Mar. 31, 2019			80,436	(2,312)	78,124
Balance, shares at Mar. 31, 2019	8,471,608
Stock-based compensation			1,112		1,112
Dividends on Series A preferred stock			(1,525)		(1,525)
Net income				1,858	1,858
Balance at Jun. 30, 2019			80,023	(454)	79,569
Balance, shares at Jun. 30, 2019	8,471,608
Balance at Dec. 31, 2019		$ (314)	79,186	(3,442)	75,430
Balance, shares at Dec. 31, 2019	8,506,666	78,000
Stock-based compensation			680		680
Dividends on Series A preferred stock			(1,644)		(1,644)
Repurchase of Treasury Stock		$ (145)			(145)
Repurchase of Treasury Stock, shares		44,729
Net income				2,987	2,987
Balance at Mar. 31, 2020		$ (459)	78,222	(455)	77,308
Balance, shares at Mar. 31, 2020	8,506,666	122,729
Balance at Dec. 31, 2019		$ (314)	79,186	(3,442)	75,430
Balance, shares at Dec. 31, 2019	8,506,666	78,000
Net income					11,055
Balance at Jun. 30, 2020		$ (499)	78,712	5,929	84,142
Balance, shares at Jun. 30, 2020	8,548,524	141,299
Balance at Mar. 31, 2020		$ (459)	78,222	(455)	77,308
Balance, shares at Mar. 31, 2020	8,506,666	122,729
Stock-based compensation			340		340
Dividends on Series A preferred stock				(1,684)	(1,684)
Repurchase of Treasury Stock		$ (40)			(40)
Repurchase of Treasury Stock, shares		18,570
Shares issued pursuant to the Employee Stock Purchase Plan			150		150
Shares issued pursuant to the Employee Stock Purchase Plan, shares	41,858
Net income				8,068	8,068
Balance at Jun. 30, 2020		$ (499)	$ 78,712	$ 5,929	$ 84,142
Balance, shares at Jun. 30, 2020	8,548,524	141,299

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Cash Flows From Operating Activities
Net income	$ 8,068	$ 2,987	$ 1,858	$ 1,844	$ 11,055	$ 3,702
Adjustments to reconcile net income to net cash provided by operating activities:
Stock based compensation	340		1,112		1,020	2,626
Bad debt expense					149	148
Depreciation and amortization of property and equipment					3,213	3,428
Amortization of intangible assets					2,095	1,907
Amortization of debt discount					85	175
Non-cash lease expense					107
Loss on sale of property and equipment	6				8	2
Changes in operating assets and liabilities:
Receivables					(14,040)	(3,295)
Inventories					71,326	49,049
Prepaid expenses and other					(167)	(90)
Income tax receivable/payable					3,770	2,399
Other assets					(95)	103
Accounts payable, accrued expenses and other current liabilities					6,977	(1,107)
Operating lease liability					(1,893)
Total Adjustments					72,555	55,345
Net Cash Provided By Operating Activities					83,610	59,047
Cash Flows From Investing Activities
Cash paid for acquisitions					(2,749)
Proceeds from sales of property and equipment					4,963	20
Purchases of property and equipment					(2,979)	(5,919)
Net Cash Used In Investing Activities					(765)	(5,899)
Cash Flows From Financing Activities
Net repayments under M&T bank floor plan					(63,057)	(48,893)
Borrowings under Houston mortgage with M&T bank and PPP Loans					13,710
Repayment of long term debt with M&T bank					(725)	(1,450)
Proceeds from financing liability						3,476
Repayments of financing liability					(480)	(341)
Payment of dividends on Series A preferred stock						(1,210)
Repurchase of Unit Purchase Options						(500)
Repurchase of Treasury Stock					(184)
Proceeds from shares issued pursuant to the Employee Stock Purchase Plan					150
Repayments of acquisition notes payable					(1,536)	(681)
Loan issuance costs					(131)
Net Cash Used In Financing Activities					(52,253)	(49,599)
Net Increase In Cash					30,592	3,549
Cash - Beginning		$ 31,458		$ 26,603	31,458	26,603	$ 26,603
Cash - Ending	$ 62,050		$ 30,152		62,050	30,152	$ 31,458
Supplemental Disclosures of Cash Flow Information:
Cash paid during the period for interest					4,710	5,488
Cash paid during the period for income taxes net of refunds received					66	886
Non-Cash Investing and Financing Activities
Rental vehicles transferred to inventory, net						218
Fixed assets purchased with accounts payable
Accrued dividends on Series A Preferred Stock					3,328	2,709
Operating lease assets - ASC 842 adoption					(17,781)
Operating lease liabilities - ASC 842 adoption					17,845
Operating lease assets - new					(655)
Operating lease liabilities - new					655
Net assets acquired in acquisitions					$ 2,749

Business Organization and Natur

Business Organization and Nature of Operations	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Organization and Nature of Operations	NOTE 1 – BUSINESS ORGANIZATION AND NATURE OF OPERATIONS Lazydays Holdings, Inc. (the “Company” or “Holdings”), a Delaware corporation, was originally formed on October 24, 2017, as a wholly owned subsidiary of Andina Acquisition Corp. II (“Andina”), an exempted company incorporated in the Cayman Islands on July 1, 2015 for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination with one or more business targets. On October 27, 2017, a merger agreement was entered into by and among Andina, Andina II Holdco Corp. (“Holdco”), a Delaware corporation and wholly-owned subsidiary of Andina, Andina II Merger Sub Inc., a Delaware corporation, and a wholly-owned subsidiary of Holdco (“Merger Sub”), Lazy Days’ R.V. Center, Inc. (and its subsidiaries), a Delaware corporation (“Lazydays RV”), and solely for certain purposes set forth in the merger agreement, A. Lorne Weil (the “Merger Agreement”). The Merger Agreement provided for a business combination transaction by means of (i) the merger of Andina with and into Holdco, with Holdco surviving, changing its name to Lazydays Holdings, Inc. and becoming a new public company (the “Redomestication Merger”) and (ii) the merger of Lazydays RV with and into Merger Sub with Lazydays RV surviving and becoming a direct wholly-owned subsidiary of Holdings (the “Transaction Merger” and together with the Redomestication Merger, the “Mergers”). On March 15, 2018, the Mergers were consummated. Lazydays RV has subsidiaries that operate recreational vehicle (“RV”) dealerships in eight locations including two in the state of Florida, two in the state of Colorado, two in the state of Arizona (one of which was acquired in May 2020), one in the state of Tennessee and one in the state of Minnesota. Lazydays RV also has a dedicated service center location near Houston, Texas which opened in February 2020. Through its subsidiaries, Lazydays RV sells and services new and pre-owned recreational vehicles, and sells related parts and accessories. It also offers to its customers such ancillary services as overnight campground and restaurant facilities. The Company also arranges financing and extended service contracts for vehicle sales through third-party financing sources and extended warranty providers.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles for complete financial statements. For additional information, these condensed consolidated financial statements should be read in conjunction with Lazydays Holdings, Inc.’s and Lazy Days’ R.V. Center, Inc.’s consolidated financial statements and notes as of December 31, 2019 and 2018 and for the years then ended, included in the Annual Report on Form 10-K filed with the SEC on March 20, 2020. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Principles of Consolidation The condensed consolidated financial statements include the accounts of Holdings, Lazydays RV and its wholly owned subsidiary LDRV Holdings Corp. LDRV Holdings Corp is the sole owner of Lazydays Land Holdings, LLC, Lazydays Tampa Land Holdings, LLC, Lazydays RV America, LLC, Lazydays RV Discount, LLC, Lazydays Mile Hi RV, LLC, LDRV of Tennessee LLC, Lazydays of Minneapolis LLC, Lazydays of Central Florida, LLC, Lone Star Acquisition LLC, Lone Star Diversified LLC, LDRV Acquisition Corp of Nashville LLC, LDRV of Nashville LLC and Lazydays RV of Phoenix, LLC (collectively, the “Company”, “Lazydays” or “Successor”). All significant inter-company accounts and transactions have been eliminated in consolidation. Use of Estimates in the Preparation of Financial Statements The preparation of 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 condensed 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 assumptions used in the valuation of the net assets acquired in business combinations, goodwill and other intangible assets, provision for charge-backs, inventory write-downs, allowance for doubtful accounts and stock-based compensation. Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) issued accounting standard updates which clarified principles for recognizing revenue arising from contracts with customers (Accounting Standards Codification (“ASC”) 606 (“ASC 606”) which superseded existing accounting guidance for revenue recognition. The core principle of the revenue standard is that an entity recognizes revenue to depict the transfer of promised goods or services to clients in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new guidance applies a five-step model for revenue measurement and recognition and also requires increased disclosures including the nature, amount, timing, and uncertainty of revenue and cash flows related to contracts with clients. The Company adopted the new revenue recognition standard at the beginning of the first quarter of fiscal 2019 using the modified retrospective method of adoption and applied the guidance to those contracts that were not completed as of December 31, 2018. Based on the evaluation, the Company did not identify customer contracts which will require different recognition under the new guidance. Revenues are recognized when control of the promised goods or services is transferred to the customers at the expected amount the Company is entitled to for such goods and services. Taxes collected on revenue producing transactions are excluded from revenue in the condensed consolidated statements of income. The following table represents the Company’s disaggregation of revenue: Three months ended Six months ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 New vehicle revenue $ 129,398 $ 94,234 $ 231,842 $ 192,046 Preowned vehicle revenue 62,107 54,812 126,851 109,634 Parts, accessories, and related services 9,165 8,731 19,930 17,506 Finance and insurance revenue 12,763 9,537 24,035 19,252 Campground, rental, and other revenue 528 1,232 2,157 3,165 $ 213,961 $ 168,546 $ 404,815 $ 341,603 Revenue from the sale of vehicle contracts is recognized at a point in time on delivery, transfer of title and completion of financing arrangements. Revenue from the sale of parts, accessories, and related service is recognized as services and parts are delivered or as a customer approves elements of the completion of service. Revenue from the sale of parts, accessories, and related service is recognized in other revenue in the accompanying condensed consolidated statements of income. Revenue from the rental of vehicles is recognized pro rata over the period of the rental agreement (the Company’s rental business was phased out in 2019. The rental agreements are generally short-term in nature. Revenue from rentals is included in other revenue in the accompanying condensed consolidated statements of income. Campground revenue is also recognized over the time period of use of the campground. The Company receives commissions from the sale of insurance and vehicle service contracts to customers. In addition, the Company arranges financing for customers through various financial institutions and receives commissions. The Company may be charged back (“charge-backs”) for financing fees, insurance or vehicle service contract commissions in the event of early termination of the contracts by the customers. The revenues from financing fees and commissions are recorded at the time of the sale of the vehicles and an allowance for future charge-backs is established based on historical operating results and the termination provision of the applicable contracts. The estimates for future chargebacks require judgment by management, and as a result there is an element of risk associated with these revenue streams. The Company recognized finance and insurance revenues, less the additions to the charge-back allowance, which is included in other revenue as follows (unaudited): Three months ended Six months ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Gross finance and insurance revenues $ 13,917 $ 11,009 $ 26,500 $ 21,687 Additions to charge-back allowance (1,154 ) (1,472 ) (2,465 ) (2,435 ) Net Finance Revenue $ 12,763 $ 9,537 $ 24,035 $ 19,252 The Company has an accrual for charge-backs which totaled $5,150 and $4,221 at June 30, 2020 and December 31, 2019, respectively, and is included in “Accounts payable, accrued expenses, and other current liabilities” in the accompanying condensed consolidated balance sheets. Deposits on vehicles received in advance are accounted for as a liability and recognized into revenue upon completion of each respective transaction. These contract liabilities are included in Note 5 – Accounts Payable, Accrued Expenses, and Other Current Liabilities as customer deposits. During the six months ended June 30, 2020, $1,824 of contract liabilities as of December 31, 2019 were recognized in revenue. Inventories Vehicle and parts inventories are recorded at the lower of cost or net realizable value, with cost determined by the last-in, first-out (“LIFO”) method. Cost includes purchase costs, reconditioning costs, dealer-installed accessories, and freight. For vehicles accepted in trades, the cost is the fair value of such used vehicles at the time of the trade-in. Retail parts, accessories, and other inventories primarily consist of retail travel and leisure specialty merchandise. The current replacement costs of LIFO inventories exceeded their recorded values by $3,670 and $3,719 as of June 30, 2020 and December 31, 2019, respectively. Cumulative Redeemable Convertible Preferred Stock The Company’s Series A Preferred Stock (See Note 10 – Preferred Stock) is cumulative redeemable convertible preferred stock. Accordingly, it is classified as temporary equity and is shown net of issuance costs and the relative fair value of warrants issued in conjunction with the issuance of the Series A Preferred Stock. Unpaid preferred dividends are accumulated, compounded at each quarterly dividend date and presented within the carrying value of the Series A Preferred Stock until a dividend is declared by the board of directors. Stock Based Compensation The Company accounts for stock-based compensation for employees and directors in accordance with ASC 718, Compensation. ASC 718 requires all share-based payments to employees, including grants of employee stock options, to be recognized in the statement of income based on their fair values. Under the provisions of ASC 718, stock-based compensation costs are measured at the grant date, based on the fair value of the award, and are recognized as expense over the employee’s requisite or derived service period. In accordance with ASC 718, excess tax benefits realized from the exercise of stock-based awards are classified as cash flows from operating activities. All excess tax benefits and tax deficiencies (including tax benefits of dividends on share-based payment awards) are recognized as income tax expense or benefit in the condensed consolidated statements of income. Earnings Per Share The Company computes basic and diluted earnings/(loss) per share (“EPS”) by dividing net earnings/(loss) by the weighted average number of shares of common stock outstanding during the period. The Company is required, in periods in which it has net income, to calculate EPS using the two-class method. The two-class method is required because the Company’s Series A Preferred Stock have the right to receive dividends or dividend equivalents should the Company declare dividends on its common stock. Under the two-class method, earnings for the period are allocated on a pro-rata basis to the common and preferred stockholders. The weighted-average number of common and preferred shares outstanding during the period is then used to calculate basic EPS for each class of shares. In periods in which the Company has a net loss, basic loss per share is calculated by dividing the loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period. The two-class method is not used, because the preferred stock does not participate in losses. The following table summarizes net income attributable to common stockholders used in the calculation of basic and diluted income per common share: Three months ended Six months ended (Dollars in thousands - except share and per share amounts) June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Distributed earnings allocated to common stock $ - $ - $ - Undistributed earnings allocated to common stock 3,799 205 4,649 611 Net earnings allocated to common stock 3,799 205 4,649 611 Net earnings allocated to participating securities 2,585 128 3,078 382 Net earnings allocated to common stock and participating securities $ 6,384 $ 333 $ 7,727 $ 993 Weighted average shares outstanding for basic earnings per common share 9,715,677 9,811,107 9,736,133 9,753,491 Dilutive effect of warrants and options - - - - Weighted average shares outstanding for diluted earnings per share computation 9,715,677 9,811,107 9,736,133 9,753,491 Basic income per common share $ 0.39 $ 0.02 $ 0.48 $ 0.06 Diluted income per common share $ 0.39 $ 0.02 $ 0.48 $ 0.06 The denominator of the basic and dilutive EPS was calculated as follows: Three months ended Six months ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Weighted average outstanding common shares 8,376,178 8,471,608 8,396,634 8,413,992 Weighted average prefunded warrants 1,339,499 1,339,499 1,339,499 1,339,499 Weighted shares outstanding - basic and diluted 9,715,677 9,811,107 9,736,133 9,753,491 The following common stock equivalent shares were excluded from the computation of the diluted income per share, since their inclusion would have been anti-dilutive: Three months ended Six months ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Shares underlying warrants 4,677,458 4,677,458 4,677,458 4,677,458 Stock options 3,993,759 3,677,580 3,993,759 3,677,580 Share equivalents excluded from EPS 8,671,217 8,355,038 8,671,217 8,355,038 As of June 30, 2020, the Company did not declare and pay the dividend. As a result, the Series A Convertible Preferred Stock was convertible into 6,880,741 shares of common stock. Upon conversion the Company has the option to pay accrued dividends in cash or allow conversion into common stock. Advertising Costs Advertising and promotion costs are charged to operations in the period incurred. Advertising and promotion costs totaled approximately $2,862 and $3,013 for the three months ended June 30, 2020 and June 30, 2019, respectively, and $7,221 and $6,933 for the six months ended June 30, 2020 and June 30, 2019, respectively. Income Taxes The Company recognizes deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the financial statements or tax returns. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The Company estimates the degree to which tax assets and credit carry forwards will result in a benefit based on expected profitability by tax jurisdiction. In its interim financial statements, the Company follows the guidance in ASC 270, “Interim Reporting” and ASC 740 “Income Taxes”, whereby the Company utilizes the expected annual effective tax rate in determining its income tax provisions for the interim periods. Seasonality The Company’s combined operations generally experience modestly higher vehicle sales in the first half of each year during the winter months at the Company’s largest location in Tampa, Florida. In addition, the northern locations in Colorado, Tennessee and Minnesota generally experience modestly higher vehicle sales during the spring months. Vendor Concentrations The Company purchases its new recreational vehicles and replacement parts from various manufacturers. During the three months ended June 30, 2020, four major manufacturers accounted for 35.0%, 22.5%, 21.5% and 16.9% of RV purchases. During the six months ended June 30, 2020, four major manufacturers accounted for 31.5%, 21.2%, 20.2% and 19.0% of RV purchases. During the three months ended June 30, 2019, four major manufacturers accounted for 36.1%, 22.3%, 17.0% and 15.4% of RV purchases. During the six months ended June 30, 2019, four major manufacturers accounted for 40.0%, 20.6%, 16.7% and 13.2% of RV purchases. The Company is subject to dealer agreements with each manufacturer. The manufacturer is entitled to terminate the dealer agreement if the Company is in material breach of the agreement terms. Geographic Concentrations The percent of revenues generated by the Florida locations and the Colorado locations, which generate greater than 10% of revenues, were as follows (unaudited): Three months ended Six months ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Florida 61 % 64 % 68 % 69 % Colorado 17 % 16 % 14 % 13 % These geographic concentrations increase the exposure to adverse developments related to competition, as well as economic, demographic, weather and other changes in these regions. Impact of COVID-19 In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a pandemic which continues to spread throughout the United States and globally. The Company is monitoring the outbreak of COVID-19 and the related business and travel restrictions and changes to behavior intended to reduce its spread, and its impact on operations, financial position, cash flows, inventory, supply chains, purchasing trends, customer payments, and the industry in general, in addition to the impact on its employees. Due to the rapid development and fluidity of this situation, the magnitude and duration of the pandemic and its impact on the Company’s operations and liquidity is uncertain as of the date of this report. While there could ultimately be a material impact on operations and liquidity of the Company, at the time of issuance of this quarterly report on Form 10-Q, the impact could not be determined. Due to the COVID-19 pandemic, the Company took a number of actions effective April 6, 2020 to adjust resources and costs to align with reduced demand caused by the pandemic. These actions included: ● Reduction of its workforce by 25%; ● Temporary reduction of Senior management salaries (April 2020 through May 2020); ● Suspension of 2020 annual pay increases; ● Temporary suspension of 401k match (April 2020 through June 2020); ● Delay non-critical capital projects; ● Focus resources on core sales and service operations As described under Note 7 - Debt below, in order to help mitigate the effects of the COVID-19 pandemic, the Company entered into the Fourth Amendment to the M&T credit agreement on April 15, 2020 and applied for and received funds under loans (“PPP Loans”) under the Paycheck Protection Program of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) with M&T Bank. Reclassifications Certain amounts in prior periods have been reclassified to conform to the current period presentation. These reclassifications had no effect on the previously reported net income. Recently Issued Accounting Standards The Company qualifies as an emerging growth company pursuant to the provision of the Jumpstart Our Business Startups (“JOBS”) Act. Section 107 of the JOBS Act provides that an emerging growth company can delay the adoption of certain new accounting standards until those standards would otherwise apply to private companies. The Company has elected to take advantage of the extended transition period provided by the JOBS Act for complying with new or revised accounting standards. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) (“ASU 2016-13”). This standard requires the use of a forward-looking expected loss impairment model for trade and other receivables, held-to-maturity debt securities, loans and other instruments. This standard also requires impairments and recoveries for available-for-sale debt securities to be recorded through an allowance account and revises certain disclosure requirements. In April 2019, the FASB issued ASU 2019-04, Codification Improvements, which provides guidance on accounting for credit losses on accrued interest receivable balances and guidance on including recoveries when estimating the allowance. In May 2019, the FASB issued ASU 2019-05, Targeted Transition Relief, which allows entities with an option to elect fair value for certain instruments upon adoption of Topic 326. The standard is effective for the Company for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company is currently evaluating the impact that the adoption of the provisions of ASU 2016-03 will have on its condensed consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) (“ASU 2020-04”). This standard, effective for reporting periods through December 31, 2022, provides accounting relief for contract modifications that replace an interest rate impacted by reference rate reform (e.g., London Interbank Offered Rate (“LIBOR”)) with a new alternative reference rate. The guidance is applicable to investment securities, receivables, loans, debt, leases, derivatives and hedge accounting elections and other contractual arrangements. The new standard provides temporary optional expedients and exceptions to current GAAP guidance on contract modifications and hedge accounting. Specifically, a modification to transition to an alternative reference rate is treated as an event that does not require contract remeasurement or reassessment of a previous accounting treatment. The standard is generally effective for all contract modifications made and hedging relationships evaluated through December 31, 2022, as a result of reference rate reform. The Company is currently evaluating the impact that this new standard will have on our condensed consolidated financial statements. Leases Adoption of new lease standard In February 2016, the FASB issued a new accounting standard that amends the guidance for the accounting and disclosure of leases. This new standard requires that lessees recognize the assets and liabilities that arise from leases on the balance sheet, including leases classified as operating leases, and disclose qualitative and quantitative information about leasing arrangements. The FASB subsequently issued additional amendments to address issues arising from the implementation of the new lease standard. We adopted this standard as of January 1, 2020, using the modified-retrospective method. This approach provides a method for recording existing leases at adoption. We used the adoption date as our date of initial application, and thus comparative-period financial information is not presented for periods prior to the adoption date. In addition, we elected the package of practical expedients permitted under the transition guidance within the new standard, which, among other things, allowed the Company to carry forward the historical lease classification. Adoption of the new standard resulted in total operating lease liabilities of approximately $17,800 and operating lease assets of approximately $17,800 as of January 1, 2020. The standard did not materially impact our Condensed Consolidated Statements of Income and had no impact on our Condensed Consolidated Statements of Cash Flows. Our accounting policies under the new standard are described below. See Note 6, Leases. Lease recognition At inception of a contract, we determine whether an arrangement is or contains a lease. For all leases, we determine the classification as either operating or financing. Operating lease assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments under the lease. Lease recognition occurs at the commencement date and lease liability amounts are based on the present value of lease payments over the lease term. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Because most of our leases do not provide information to determine an implicit interest rate, we use our incremental borrowing rate in determining the present value of lease payments. Operating lease assets also include any lease payments made prior to the commencement date and exclude lease incentives received. Operating lease expense is recognized on a straight-line basis over the lease term. We have lease agreements with both lease and non-lease components, which are generally accounted for together as a single lease component. Subsequent Events Management of the Company has analyzed the activities and transactions subsequent to June 30, 2020 through the date these condensed consolidated financial statements were issued to determine the need for any adjustments to or disclosures within the financial statements. The Company did not identify any recognized or non-recognized subsequent events that would require disclosure in the condensed consolidated financial statements.

Business Combination

Business Combination	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Business Combination	NOTE 3 – BUSINESS COMBINATION Acquisitions of Dealerships On August 1, 2019, the Company consummated its asset purchase agreement with Alliance Coach Inc. (“Alliance”). The purchase price consisted of cash and a note payable to the seller of Alliance. The note payable is a two year note which matures on August 1, 2021, which requires monthly payments of $134 in principal and interest. The note bears interest at 5.0% per year. As part of the acquisition, the Company acquired the inventory of Alliance and has added the inventory to the M&T Floor Plan Line of Credit (as defined below). On May 19, 2020, the Company consummated its asset purchase agreement with Korges Enterprises, Inc. (“Korges”). The purchase price consisted solely of cash paid to Korges. As part of the acquisition, the Company acquired the inventory of Korges and has added the inventory to the M&T Floor Plan Line of Credit (as defined below). The Company accounted for the asset purchase agreements as business combinations using the purchase method of accounting as it was determined that Alliance and Korges each constituted a business. As a result, the Company determined its preliminary allocation of the fair value of the assets acquired and the liabilities assumed for these dealerships as follows: 2020 2019 Inventories $ 10,742 $ 12,171 Accounts receivable and prepaid expenses 905 53 Property and equipment 202 77 Intangible assets 2,760 2,630 Total assets acquired 14,609 14,931 Accounts payable, accrued expenses and other current liabilities 719 243 Floor plan notes payable 11,322 11,434 Total liabilities assumed 12,041 11,677 Net assets acquired $ 2,568 $ 3,254 The fair value of consideration paid was as follows: 2020 2019 Purchase Price: $ 2,749 $ 2,568 Cash consideration paid (107 ) Amounts due (from) to former owners - - Note payable issued to former owners 3,045 $ 2,749 $ 5,506 Goodwill represents the excess of the purchase price over the estimated fair value assigned to tangible and identifiable intangible assets acquired and liabilities assumed from Alliance and Korges. Goodwill associated with the transactions is detailed below: 2020 2019 Total consideration $ 2,749 $ 5,506 Less net assets acquired 2,568 3,254 Goodwill $ 181 $ 2,252 The following table summarizes the Company’s preliminary allocation of the purchase price to the identifiable intangible assets acquired as of the date of the closings. Gross Asset Amount at Acquisition Date Weighted Average Amortization Period in Years Customer Lists $ 270 7 years Dealer Agreements $ 4,900 7 years Noncompete Agreement $ 220 5 years The Company recorded approximately $19,735 in revenue and $1,456 in net income prior to income taxes during the period from April 1, 2020 to June 30, 2020 related to these acquisitions. The Company recorded approximately $33,690 in revenue and $2,197 in net income prior to income taxes during the period for the six months ended June 30, 2020 related to these acquisitions. Pro Forma Information The following unaudited pro forma financial information summarizes the combined results of operations for the Company as though the purchase of Alliance and Korges had been consummated on January 1, 2019. For the three months ended June 30, For the six months ended June 30, 2020 2019 2020 2019 Revenue $ 219,296 $ 192,239 $ 420,821 $ 388,988 Income before income taxes $ 10,632 $ 4,757 $ 14,975 $ 8,542 Net income $ 8,090 $ 2,490 $ 11,122 $ 4,931 The Company adjusted the combined income of Lazydays RV with Alliance and Korges and adjusted net income to eliminate business combination expenses as well as the incremental depreciation and amortization associated with the preliminary purchase price allocation to determine pro forma net income.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Inventories	NOTE 4 – INVENTORIES Inventories consist of the following: As of As of June 30, 2020 Dec 31, 2019 (Unaudited) New recreational vehicles $ 72,386 $ 124,096 Pre-owned recreational vehicles 27,591 36,639 Parts, accessories and other 3,973 3,848 103,950 164,583 Less: excess of current cost over LIFO (3,670 ) (3,719 ) $ 100,280 $ 160,864

Accounts Payable, Accrued Expen

Accounts Payable, Accrued Expenses and Other Current Liabilities	6 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Accounts Payable, Accrued Expenses and Other Current Liabilities	NOTE 5 – ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accounts payable, accrued expenses and other current liabilities consist of the following: As of As of (Unaudited) Accounts payable $ 13,768 $ 11,231 Other accrued expenses 5,227 3,392 Customer deposits 3,723 2,267 Accrued compensation 3,552 2,388 Accrued charge-backs 5,150 4,221 Accrued interest 133 356 Total $ 31,553 $ 23,855

Leases

Leases	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Leases	NOTE 6 – LEASES On January 1, 2020, we adopted a new accounting standard that amends the guidance for the accounting and reporting of leases. Certain required disclosures have been made on a prospective basis in accordance with the guidance of the standard. See Note 2, Significant Accounting Policies. The Company leases property and equipment throughout the United States primarily under operating leases. Leases with lease terms of 12 months or less are expensed on a straight-line basis over the lease term and are not recorded in the Condensed Consolidated Balance Sheets. Most leases include one or more options to renew, with renewal terms that can extend the lease term up to 20 years (some leases include multiple renewal periods). The exercise of lease renewal options is at our sole discretion. In addition, some of our lease agreements include rental payments adjusted periodically for inflation. Our lease agreements neither contain any residual value guarantees nor impose any significant restrictions or covenants. The Company leases properties for its RV retail locations through nine operating leases. The Company also leases billboards and certain of its equipment through operating leases. The related right-of-use (“ROU”) assets for these operating leases are included in operating lease assets. On May 19, 2020, the Company entered into a new lease for the property associated with the Korges acquisition. The lease was evaluated as a finance lease. As a result, a right of use asset was recorded in property and equipment for $4,015 with an offsetting $4,015 financing liability. As of June 30, 2020, the weighted-average remaining lease term and weighted-average discount rate of operating leases was 6.5 years and 5.0%, respectively. Operating lease costs for the three and six month periods ending June 30, 2020 was $1,078 and $1,956, respectively, including variable lease costs. There were no short term leases for the three and six months ended June 30, 2020. Maturities of lease liabilities as of June 30, 2020 were as follows: Maturity Date Operating Leases Remaining six months ending December 31, 2020 $ 2,288 2021 4,305 2022 3,940 2023 3,812 2024 3,091 Thereafter 7,018 Total lease payments 24,454 Less: Imputed Interest 3,674 Present value of lease liabilities $ 20,780 The following presents supplemental cash flow information related to leases during 2020: For the Cash paid for amounts included in the measurement of lease liability: Operating cash flows for operating leases $ 1,956 ROU assets obtained in exchange for lease liabilities: Operating leases $ 655 Finance lease $ 4,015 $ 4,670 On March 10, 2020, the Company entered into an agreement for the sale of land to LD Murfreesboro TN Landlord, LLC for $4.921 million. The Company has entered into a lease agreement with the buyer with lease payments to commence upon granting of a certificate of occupancy and completion of planned construction, the cost of which will be paid for by LD Murfreesboro TN Landlord, LLC. The commencement date of the lease will occur at the completion of construction which is expected to occur in the fourth quarter of 2020.

Debt

Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	NOTE 7 – DEBT M&T Financing Agreement On March 15, 2018, the Company terminated and replaced the Bank of America (“BOA”) credit facility with a $200,000 Senior Secured Credit Facility with M&T Bank (the “M&T Facility”). The M&T Facility includes a Floor Plan Facility (the “M&T Floor Plan Line of Credit”), a Term Loan (the “M&T Term Loan”), and a Revolving Credit Facility (the “M&T Revolver”). The M&T Facility will mature on March 15, 2021. The M&T Facility requires the Company to meet certain financial and other covenants and is secured by substantially all the assets of the Company. The costs of the M&T Facility were recorded as a debt discount. On March 15, 2018, the Company repaid $96,740 outstanding under the BOA floor plan notes payable and $8,820 outstanding under the BOA term loan with the proceeds of the M&T Facility. On March 6, 2020, the Company entered into the Third Amendment and Joinder to Credit Agreement (“Third Amendment”) on the M&T Facility. Pursuant to the Third Amendment, Lone Star Land of Houston, LLC (the “Mortgage Loan Borrower”) and Lone Star Diversified, LLC (“Diversified”), wholly owned subsidiaries of LDRV, became parties to the Credit Agreement and were identified as Additional Loan Parties. The existing borrowers and guarantors also requested that the lenders provide a mortgage loan credit facility in the aggregate principal amount of acquisition, construction, and permanent mortgage financing for a property acquired by the Mortgage Loan Borrower. The mortgage loans maximum borrowing amount is $6,136. The mortgage shall bear interest at (a) LIBOR plus an applicable margin of 2.25% or (b) the Base Rate plus a margin of 1.25%. The mortgage requires monthly payments of principal of $0.03 million and matures on March 15, 2021 when all remaining principal and accrued interest payments become due. As of June 30, 2020, the mortgage balance was $5,006 and the interest rate was 2.4375%. In order to help mitigate the effects of the COVID-19 pandemic, the Company entered into the Fourth Amendment to the M&T Credit agreement on April 15, 2020 (the “Fourth Amendment”). Pursuant to the Fourth Amendment, the parties agreed to a suspension of scheduled principal payments on the term loans and mortgage loans (to the extent the permanent loan period has begun for the mortgage loans) for the period from April 15, 2020 through June 15, 2020. Interest on the outstanding principal balances of the term loans and mortgage loans continued to accrue and be paid at the applicable interest rate during the deferment period. At the end of the deferment period, the borrowers resumed making all required payments of principal on the term loans and mortgage loans. All principal payments of the term loans and mortgage loans deferred during the deferment period are due and payable on the term loan maturity date or the mortgage loan maturity date, as applicable. Additionally, all principal payments deferred during the deferment period are due and payable (a) as described above or (b) if earlier, the date all outstanding amounts are otherwise due and payable under the terms of the credit documents (including, without limitation, upon maturity, acceleration or, to the extent applicable under the credit documents, demand for payment). In addition, the amendment includes a temporary suspension of scheduled curtailment payments required by the credit agreement for the period from April 1, 2020 through June 15, 2020. Amounts related to floor plan unused commitment fees and interest on the outstanding principal balance of the M&T Floor Plan Line of Credit (as defined below) will continue to accrue and be paid at the applicable rate and on the terms set forth in the credit agreement during the suspension period. As of June 30, 2020, the payment of dividends by the Company (other than from proceeds of revolving loans) was permitted under the M&T Facility, so long as at the time of payment of any such dividend, no event of default existed under the M&T Facility, or would result from the payment of such dividend, and so long as any such dividend was permitted under the M&T Facility. As of March 31, 2020 and taking into account the effect of the Fourth Amendment to the Credit Agreement entered into on April 15, 2020, the maximum amount of cash dividends that the Company could make from legally available funds to its stockholders was limited to an aggregate of $15,105 pursuant to a trailing twelve month calculation as defined in the M&T Facility. Floor Plan Line of Credit The $175,000 M&T Floor Plan Line of Credit may be used to finance new vehicle inventory, but only $45,000 may be used to finance pre-owned vehicle inventory and $4,500 may be used to finance rental units. Principal becomes due upon the sale of the related vehicle. The M&T Floor Plan Line of Credit shall accrue interest at either (a) the fluctuating 30-day LIBOR rate plus an applicable margin which ranges from 2.00% to 2.30% based upon the Company’s total leverage ratio (as defined in the M&T Facility) or (b) the Base Rate plus an applicable margin ranging from 1.00% to 1.30% based upon the Company’s total leverage ratio (as defined in the M&T Facility). The Base Rate is defined in the M&T Facility as the highest of M&T’s prime rate, the Federal Funds rate plus 0.50% or one-month LIBOR plus 1.00%. In addition, the Company will be charged for unused commitments at a rate of 0.15%. As of June 30, 2020, the interest rate on the M&T Floor Plan Line of Credit was approximately 2.27825%. The M&T Floor Plan Line of Credit consists of the following: As of As of (Unaudited) Floor plan notes payable, gross $ 92,398 $ 144,133 Debt discount (142 ) (184 ) Floor plan notes payable, net of debt discount $ 92,256 $ 143,949 Term Loan The $20,000 M&T Term Loan will be repaid in equal monthly principal installments of $242 plus accrued interest through the maturity date of March 15, 2021. The M&T Term Loan shall bear interest at (a) LIBOR plus an applicable margin of 2.25% to 3.00% based on the total leverage ratio (as defined in the M&T Facility) or (b) the Base Rate plus a margin of 1.25% to 2.00% based on the total leverage ratio (as defined in the M&T Facility). As of June 30, 2020, there was $14,200 outstanding under the M&T Term Loan. As of June 30, 2020, the interest rate on the M&T Term Loan was 2.6875%. Revolver The $5,000 M&T Revolver allows the Company to draw up to $5,000. The M&T Revolver shall bear interest at (a) 30-day LIBOR plus an applicable margin of 2.25% to 3.00% based on the total leverage ratio (as defined in the M&T Facility) or (b) the Base Rate plus a margin of 1.25% to 2.00% based on the total leverage ratio (as defined in the M&T Facility). The M&T Revolver is also subject to unused commitment fees at rates varying from 0.25% to 0.50% based on the total leverage ratio (as defined in the M&T Facility). During the three and six month periods ended June 30, 2020, there were no outstanding borrowings under the M&T Revolver. PPP Loan In response to continued economic uncertainty caused by the COVID-19 pandemic, subsidiaries of the Company took the additional step of applying for loans (“PPP Loans”) under the Paycheck Protection Program of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) with M&T Bank (the “Lender”). On April 28, 2020, certain of the Company’s subsidiaries executed promissory notes (the “Notes”) in favor of the Lender for PPP Loans in an aggregate amount of $6,831,250 which mature on April 29, 2022. Applications were submitted by other subsidiaries of the Company, which resulted in the execution of a promissory note on April 30, 2020 for $1,236,040 and on May 4, 2020 for $636,665, which will mature on April 30, 2022 and May 4, 2022, respectively. Pursuant to the promissory notes evidencing the PPP loans (the “Notes”), such PPP Loans will bear interest at a rate of 1.0% per year. Commencing six months after each PPP Loan was disbursed, monthly payments of principal and interest will be required in amounts necessary to fully amortize the principal amount by the maturity date. The PPP Loans are unsecured and are non-recourse obligations. The Notes provide for customary events of default, and the PPP Loans may be accelerated upon the occurrence of an event of default. All or a portion of the PPP Loans may be forgiven upon application to the Lender for payroll and certain other costs incurred during the 8-week period beginning on the date each PPP Loan is disbursed, in accordance with the requirements and limitations under the CARES Act. The amount of the PPP Loan eligible for forgiveness will be reduced if the Company terminates employees or reduces salaries during the 8-week period. While the Company’s subsidiaries intend to use the entire amount of the PPP Loans for qualifying expenses, no assurance can be provided that forgiveness of any portion of the PPP Loans will be obtained.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 8 – INCOME TAXES The Company recorded a provision for federal and state income taxes of $2,536 and $2,099 for the three months ended June 30, 2020 and 2019, respectively, which represent effective tax rates of approximately 25% and 53%, respectively. The Company recorded a provision for federal and state income taxes of $3,836 and $3,284 for the six months ended June 30, 2020 and 2019, respectively, which represent effective tax rates of approximately 27% and 47%, respectively. The Company’s effective tax rates differ from the federal statutory rate of 21% primarily due to local and state income tax rates, net of the federal tax effect as well as the non-deductibility of stock-based compensation expense.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 9 - COMMITMENTS AND CONTINGENCIES Employment Agreements The Company entered into an employment agreement with the Chief Executive Officer (“CEO”) of the Company effective as of the consummation of the Mergers. The employment agreement with the CEO provides for an initial base salary of $540 subject to annual discretionary increases. In addition, the executive is eligible to participate in any employee benefit plans adopted by the Company from time to time and is eligible to receive an annual cash bonus based on the achievement of performance objectives. The CEO’s target bonus is 100% of his base salary. The employment agreement also provides that the executive is to be granted an option to purchase shares of common stock of the Company (See Note 11 – Stockholders’ Equity). The employment agreement provides that if the executive is terminated for any reason, he is entitled to receive any accrued benefits, including any earned but unpaid portion of base salary through the date of termination, subject to withholding and other appropriate deductions. In addition, in the event the executive resigns for good reason or is terminated without cause (all as defined in the employment agreement) prior to January 1, 2022, subject to entering into a release, the Company will pay the executive severance equal to two times the base salary and average bonus for the CEO. During May 2018, the Company entered into an offer letter with the Chief Financial Officer (the “CFO”) of the Company. The offer letter provides for an initial base salary of $325 per year subject to annual discretionary increases. In addition, the executive is eligible to participate in any employee benefit plans adopted by the Company from time to time and is eligible to receive an annual cash bonus based on the achievement of performance objectives. The CFO’s target bonus is 75% of his annual base salary (with a potential to earn a maximum of up to 150% of his target bonus). He was also provided with a relocation allowance of $100 which the CFO will be required to repay if he resigns from the Company or is terminated by the Company for cause within two years of his start date. If he is terminated without cause, he will receive twelve months of his base salary as severance. If he is terminated following a change in control, he is also eligible to receive a pro-rated bonus, if the board of directors determines that the performance objectives have been met. He also was granted an option to purchase shares of common stock of the Company (See Note 11- Stockholders’ Equity). Note that due to the COVID-19 pandemic, as of April 6, 2020, senior management opted to forgo 25% of their salary in order to reduce costs to align with decreased demand in sales and services. Due to improvements in sales in May 2020, the senior management resumed normal salaries in late May 2020. Director Compensation The Company’s non-employee members of the board of directors will receive annual cash compensation of $50 for serving on the board of directors, $5 for serving on a committee of the board of directors (other than the Chairman of each of the committees) and $10 for serving as the Chairman of any of the committees of the board of directors. Legal Proceedings The Company is a party to multiple legal proceedings that arise in the ordinary course of business. The Company has certain insurance coverage and rights of indemnification. The Company does not believe that the ultimate resolution of these matters will have a material adverse effect on the Company’s business, results of operations, financial condition, or cash flows. However, the results of these matters cannot be predicted with certainty and an unfavorable resolution of one or more of these matters could have a material adverse effect on the Company’s business, results of operations, financial condition, and/or cash flows.

Preferred Stock

Preferred Stock	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Preferred Stock	NOTE 10 – PREFERRED STOCK On March 15, 2018, the Company consummated a private placement with institutional investors for the sale of convertible preferred stock, common stock, and warrants for an aggregate purchase price of $94,800 (the “PIPE Investment”). At the closing, the Company issued an aggregate of 600,000 shares of Series A Preferred Stock for gross proceeds of $60,000. The investors in the PIPE Investment were granted certain registration rights as set forth in the securities purchase agreements. The holders of the Series A Preferred Stock include 500,000 shares owned by funds managed by a member of the Company’s board of directors. The Series A Preferred Stock ranks senior to all outstanding stock of the Company. Holders of the Series A Preferred Stock are entitled to vote on an as-converted basis together with the holders of the common stock, and not as a separate class, at any annual or special meeting of stockholders. Each share of Series A Preferred Stock is convertible at the holder’s election at any time, at an initial conversion price of $10.0625 per share, subject to adjustment (as applicable, the “Conversion Price”). Upon any conversion of the Series A Preferred Stock, the Company will be required to pay each holder converting shares of Series A Preferred Stock all accrued and unpaid dividends, in either cash or shares of common stock, at the Company’s option. The Conversion Price will be subject to adjustment for stock dividends, forward and reverse splits, combinations and similar events, as well as for certain dilutive issuances. Dividends on the Series A Preferred Stock accrue at an initial rate of 8% per annum (the “Dividend Rate”), compounded quarterly, on each $100 of Series A Preferred Stock (the “Issue Price”) and are payable quarterly in arrears. Accrued and unpaid dividends, until paid in full in cash, will accrue at the then applicable Dividend Rate plus 2%. The Dividend Rate will be increased to 11% per annum, compounded quarterly, in the event that the Company’s senior indebtedness less unrestricted cash during any trailing twelve-month period ending at the end of any fiscal quarter is greater than 2.25 times earnings before interest, taxes, depreciation and amortization (“EBITDA”). The Dividend Rate will be reset to 8% at the end of the first fiscal quarter when the Company’s senior indebtedness less unrestricted cash during the trailing twelve-month period ending at the end of such quarter is less than 2.25 times EBITDA. If, at any time following the second anniversary of the issuance of the Series A Preferred Stock, the volume weighted average price of the Company’s common stock equals or exceeds $25.00 per share (as adjusted for stock dividends, splits, combinations and similar events) for a period of thirty consecutive trading days, the Company may elect to force the conversion of any or all of the outstanding Series A Preferred Stock at the Conversion Price then in effect. From and after the eighth anniversary of the issuance of the Series A Preferred Stock, the Company may elect to redeem all, but not less than all, of the outstanding Series A Preferred Stock in cash at the Issue Price plus all accrued and unpaid dividends. From and after the ninth anniversary of the issuance of the Series A Preferred Stock, each holder of Series A Preferred Stock has the right to require the Company to redeem all of the holder’s outstanding shares of Series A Preferred Stock in cash at the Issue Price plus all accrued and unpaid dividends. In the event of any liquidation, merger, sale, dissolution or winding up of the Company, holders of the Series A Preferred Stock will have the right to (i) payment in cash of the Issue Price plus all accrued and unpaid dividends, or (ii) convert the shares of Series A Preferred Stock into common stock and participate on an as-converted basis with the holders of common stock. So long as the Series A Preferred Stock is outstanding, the holders thereof, by the vote or written consent of the holders of a majority in voting power of the outstanding Series A Preferred Stock, shall have the right to designate two members to the board of directors. In addition, five-year warrants to purchase 596,273 shares of common stock at an exercise price of $11.50 per share were issued in conjunction with the issuance of the Series A Preferred Stock. The warrants may be exercised for cash or, at the option of the holder, on a “cashless basis” pursuant to the exemption provided by Section 3(a)(9) of the Securities Act. The warrants may be called for redemption in whole and not in part, at a price of $0.01 per share of common stock, if the last reported sales price of the Company’s common stock equals or exceeds $24.00 per share for any 20 trading days within a 30-day trading period ending on the third business day prior to the notice of redemption to warrant holders, if there is a current registration statement in effect with respect to the shares underlying the warrants. The Series A Preferred Stock, while convertible into common stock, is also redeemable at the holder’s option and, as a result, is classified as temporary equity in the condensed consolidated balance sheets. An analysis of its features determined that the Series A Preferred Stock was more akin to equity. While the embedded conversion option (“ECO”) was subject to an anti-dilution price adjustment, since the ECO was clearly and closely related to the equity host, it was not required to be bifurcated and it was not accounted for as a derivative liability under ASC 815, Derivatives and Hedging. After factoring in the relative fair value of the warrants issued in conjunction with the Series A Preferred Stock, the effective conversion price is $9.72 per share, compared to the market price of $10.29 per share on the date of issuance. As a result, a $3,392 beneficial conversion feature was recorded as a deemed dividend in the condensed consolidated statement of income because the Series A Preferred Stock is immediately convertible, with a credit to additional paid-in capital. The relative fair value of the warrants issued with the Series A Preferred Stock of $2,035 was recorded as a reduction to the carrying amount of the preferred stock in the condensed consolidated balance sheet. In addition, aggregate offering costs of $2,981 consisting of cash and the value of five-year warrants to purchase 178,882 shares of common stock at an exercise price of $11.50 per share issued to the placement agent were recorded as a reduction to the carrying amount of the preferred stock. The $632 value of the warrants was determined utilizing the Black-Scholes option pricing model using a term of 5 years, a volatility of 39%, a risk-free interest rate of 2.61%, and a 0% rate of dividends. The discount associated with the Series A Preferred Stock was not accreted during the three months ended June 30, 2020 because redemption was not currently deemed to be probable. The Company’s board of directors did not declare a dividend payment on the Series A Preferred Stock of $1,684 for the six months ended June 30, 2020. The dividends would have been $5.55 per share of Series A Preferred Stock for the period January1, 2020 to June 30, 2020. As a result, the amount was added to the carrying amount of the Series A Preferred Stock and the dividend rate is currently at 10% until such dividends are paid.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Stockholders' Equity	NOTE 11 – STOCKHOLDERS’ EQUITY Authorized Capital The Company is authorized to issue 100,000,000 shares of common stock, $0.0001 par value, and 5,000,000 shares of preferred stock, $0.0001 par value. The holders of the Company’s common stock are entitled to one vote per share. The holders of Series A Preferred Stock are entitled to the number of votes equal to the number of shares of common stock into which the holder’s shares are convertible. These holders of Series A Preferred Stock also participate in dividends if they are declared by the board of directors. See Note 10 – Preferred Stock, for additional information associated with the Series A Preferred Stock. 2018 Long-Term Incentive Equity Plan On March 15, 2018, the Company adopted the 2018 Long-Term Incentive Equity Plan (the “2018 Plan”). The 2018 Plan reserves up to 13% of the shares of common stock outstanding on a fully diluted basis. The 2018 Plan is administered by the Compensation Committee of the board of directors, and provides for awards of options, stock appreciation rights, restricted stock, restricted stock units, warrants or other securities which may be convertible, exercisable or exchangeable for or into common stock. Due to the fact that the fair market value per share immediately following the closing of the Mergers was greater than $8.75 per share, the number of shares authorized for awards under the 2018 Plan was increased by a formula (as defined in the 2018 Plan) not to exceed 18% of shares of common stock then outstanding on a fully diluted basis. On May 20, 2019, the Company’s stockholders approved the adoption of the Lazydays Holdings, Inc. Amended and Restated 2018 Long Term Incentive Plan (the “Incentive Plan”). The Incentive Plan amends and restates the previously adopted 2018 Plan in order to replenish the pool of shares of common stock available under the Incentive Plan by adding an additional 600,000 shares of common stock and making certain changes in light of the Tax Cuts and Jobs Act and its impact on Section 162(m) of the Internal Revenue Code of 1986, as amended. As of June 30, 2020, there were 424,557 shares of common stock available to be issued under the Incentive Plan. 2019 Employee Stock Purchase Plan On May 20, 2019, the Company’s stockholders approved the 2019 Employee Stock Purchase Plan (the “ESPP”). The ESPP reserved 900,000 shares of common stock for purchase by participants in the ESPP. Participants in the plan may purchase shares of common stock at a purchase price which will not be less than the lesser of 85% of the fair market value per share of the common on the first day of the purchase period or the last day of the purchase period. The initial offering and purchase period under the ESPP commenced on July 7, 2019 with the first purchase date to be December 2, 2019. During the three and six month periods ended June 30, 2020, the Company recorded $33 and $71, respectively, of stock based compensation related to the ESPP. Warrants The Company had the following activity related to shares of common stock underlying warrants: Shares Underlying Warrants Weighted Average Exercise Price Warrants outstanding January 1, 2020 4,677,458 $ 11.50 Granted - $ - Cancelled or Expired - $ - Exercised - $ - Warrants outstanding June 30, 2020 4,677,458 $ 11.50 The table above excludes perpetual non-redeemable prefunded warrants to purchase 1,339,499 shares of common stock with an exercise price of $0.01 per share. Stock Options Stock option activity is summarized below: Shares Underlying Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Options outstanding at January 1, 2020 3,798,818 $ 10.63 Granted 380,000 $ 8.26 Cancelled or terminated (178,809 ) $ (10.47 ) Exercised - $ - Options outstanding at June 30, 2020 4,000,009 $ 10.41 3.09 $ - Options vested at June 30, 2020 97,553 $ 8.08 3.30 $ - Awards with Market Conditions On March 16, 2018, the Company granted five-year incentive stock options to purchase 3,573,113 shares of common stock at an exercise price of $11.10 per share to employees pursuant to the 2018 Plan, including 1,458,414 shares of common stock underlying the CEO’s stock options and 583,366 shares of common stock underlying the former CFO’s stock options. A set percentage of the stock options shall vest upon the volume weighted average price (“VWAP”) of the common stock, as defined in the option agreements, being equal to or greater than a specified price per share for at least thirty (30) out of thirty-five (35) consecutive trading days, as follows and are exercisable only to the extent that they are vested: 30% of the options shall vest upon the VWAP exceeding $13.125 per share; an additional 30% of the options shall vest upon the VWAP exceeding $17.50 per share; an additional 30% of the options shall vest upon the VWAP exceeding $21.875 per share; and an additional 10% of the options shall vest upon exceeding $35.00 per share; provided that the option holder remains continuously employed by the Company (and/or any of its subsidiaries) from the grant date through (and including) the relevant date of vesting. On May 7, 2018, the Company hired a new CFO who received a stock option award exercisable into 583,366 shares of common stock underlying options under the same terms as the former CFO. On June 15, 2018, the former CFO forfeited her existing 583,366 options. The fair value of the awards issued on March 16, 2018 of $15,004 was determined using a Monte Carlo simulation based on a 5-year term, a risk-free rate of 2.62%, an annual dividend yield of 0%, and an annual volatility of 42.8%. The expense is being recognized over the derived service period of each vesting tranche which was determined to be 0.74 years, 1.64 years, 2.24 years, and 3.13 years. The fair value of the awards issued on May 7, 2018 of $2,357 was determined using a Monte Carlo simulation based on a 5- year term, a risk-free rate of 2.74%, an annual volatility of 54.70%, and an annual dividend yield of 0%. The expense is being recognized over the derived service period of each vesting tranche which was determined to be 0.97 years, 1.75 years, 2.15 years, and 2.96 years. The expense recorded for awards with market conditions was $220, and $774 during the three and six month periods ended June 30, 2020 and $1,059 and $2,529 during the three and six month periods ended June 30, 2019, which is included in operating expenses in the condensed consolidated statements of income. Awards with Service Conditions On March 16, 2018, the Company granted five-year stock options to purchase an aggregate of 99,526 shares of common stock at an exercise price of $11.10 per share to the non-employee directors of the Company, pursuant to the 2018 Plan. These options vest over three years with one-third vesting on each of the respective anniversary dates. On March 23, 2018, stock options to purchase 14,218 shares of common stock that had been issued to one non-employee director were canceled, while new five-year options to purchase 15,123 shares of common stock at an exercise price of $10.40 per share were issued to certain investment funds pursuant to an arrangement between the same non-employee director and the investment adviser to the funds. The new options vest over three years with one-third vesting on each of the respective anniversary dates. On May 31, 2018, a non-employee director resigned and options to purchase 15,123 shares of common stock were forfeited. The $350 fair value of these awards was determined using the Black-Scholes option pricing model based on a 3.5 year expected life, a risk-free rate of 2.42%, an annual dividend yield of 0%, and an annual volatility of 39%. The expense is being recognized over the three-year vesting period. The expected life was determined using the simplified method as the awards were determined to be plain-vanilla options. During the year ended December 31, 2019, stock options to purchase 505,000 shares of common stock were issued to employees. The options have exercise prices ranging from $4.50 to $8.50. The options had a five year life and a four year vesting period. The fair value of the awards of $957 was determined using the Black-Scholes option pricing model based on a 3.75 year expected life, a risk free rate of 1.70%-2.51%, an annual dividend yield of 0% and an annual volatility of 52%-55%. During the six months ended June 30, 2020, stock options to purchase 380,000 shares of common stock were issued to employees and board members. The options have an exercise price of $7.91 or $8.50. The options had a five year life and a four year vesting period. The fair value of the awards of $762 was determined using the Black-Scholes option pricing model based on the following range of assumptions: For the Risk free interest rate 0.29% - 0.43 % Expected term (years) 3.50-3.75 Expected volatility 55% - 72 % Expected dividends 0.00 % The expected life was determined using the simplified method as the awards were determined to be plain-vanilla options. The expense recorded for awards with service conditions was $91 and $179 for the three and six month periods ended June 30, 2020 and $53 and $96 for the three and six month periods ended June 30, 2019, which is included in operating expenses in the condensed consolidated statements of income. As of June 30, 2020, total unrecorded compensation cost related to all non-vested awards was $1,699 which is expected to be amortized over a weighted average service period of approximately 2.62 years. The weighted average grant date fair value of awards issued during the six months ended June 30, 2020 was $2.33 per share.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles for complete financial statements. For additional information, these condensed consolidated financial statements should be read in conjunction with Lazydays Holdings, Inc.’s and Lazy Days’ R.V. Center, Inc.’s consolidated financial statements and notes as of December 31, 2019 and 2018 and for the years then ended, included in the Annual Report on Form 10-K filed with the SEC on March 20, 2020. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of Holdings, Lazydays RV and its wholly owned subsidiary LDRV Holdings Corp. LDRV Holdings Corp is the sole owner of Lazydays Land Holdings, LLC, Lazydays Tampa Land Holdings, LLC, Lazydays RV America, LLC, Lazydays RV Discount, LLC, Lazydays Mile Hi RV, LLC, LDRV of Tennessee LLC, Lazydays of Minneapolis LLC, Lazydays of Central Florida, LLC, Lone Star Acquisition LLC, Lone Star Diversified LLC, LDRV Acquisition Corp of Nashville LLC, LDRV of Nashville LLC and Lazydays RV of Phoenix, LLC (collectively, the “Company”, “Lazydays” or “Successor”). All significant inter-company accounts and transactions have been eliminated in consolidation.
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Financial Statements The preparation of 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 condensed 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 assumptions used in the valuation of the net assets acquired in business combinations, goodwill and other intangible assets, provision for charge-backs, inventory write-downs, allowance for doubtful accounts and stock-based compensation.
Revenue Recognition	Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) issued accounting standard updates which clarified principles for recognizing revenue arising from contracts with customers (Accounting Standards Codification (“ASC”) 606 (“ASC 606”) which superseded existing accounting guidance for revenue recognition. The core principle of the revenue standard is that an entity recognizes revenue to depict the transfer of promised goods or services to clients in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new guidance applies a five-step model for revenue measurement and recognition and also requires increased disclosures including the nature, amount, timing, and uncertainty of revenue and cash flows related to contracts with clients. The Company adopted the new revenue recognition standard at the beginning of the first quarter of fiscal 2019 using the modified retrospective method of adoption and applied the guidance to those contracts that were not completed as of December 31, 2018. Based on the evaluation, the Company did not identify customer contracts which will require different recognition under the new guidance. Revenues are recognized when control of the promised goods or services is transferred to the customers at the expected amount the Company is entitled to for such goods and services. Taxes collected on revenue producing transactions are excluded from revenue in the condensed consolidated statements of income. The following table represents the Company’s disaggregation of revenue: Three months ended Six months ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 New vehicle revenue $ 129,398 $ 94,234 $ 231,842 $ 192,046 Preowned vehicle revenue 62,107 54,812 126,851 109,634 Parts, accessories, and related services 9,165 8,731 19,930 17,506 Finance and insurance revenue 12,763 9,537 24,035 19,252 Campground, rental, and other revenue 528 1,232 2,157 3,165 $ 213,961 $ 168,546 $ 404,815 $ 341,603 Revenue from the sale of vehicle contracts is recognized at a point in time on delivery, transfer of title and completion of financing arrangements. Revenue from the sale of parts, accessories, and related service is recognized as services and parts are delivered or as a customer approves elements of the completion of service. Revenue from the sale of parts, accessories, and related service is recognized in other revenue in the accompanying condensed consolidated statements of income. Revenue from the rental of vehicles is recognized pro rata over the period of the rental agreement (the Company’s rental business was phased out in 2019. The rental agreements are generally short-term in nature. Revenue from rentals is included in other revenue in the accompanying condensed consolidated statements of income. Campground revenue is also recognized over the time period of use of the campground. The Company receives commissions from the sale of insurance and vehicle service contracts to customers. In addition, the Company arranges financing for customers through various financial institutions and receives commissions. The Company may be charged back (“charge-backs”) for financing fees, insurance or vehicle service contract commissions in the event of early termination of the contracts by the customers. The revenues from financing fees and commissions are recorded at the time of the sale of the vehicles and an allowance for future charge-backs is established based on historical operating results and the termination provision of the applicable contracts. The estimates for future chargebacks require judgment by management, and as a result there is an element of risk associated with these revenue streams. The Company recognized finance and insurance revenues, less the additions to the charge-back allowance, which is included in other revenue as follows (unaudited): Three months ended Six months ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Gross finance and insurance revenues $ 13,917 $ 11,009 $ 26,500 $ 21,687 Additions to charge-back allowance (1,154 ) (1,472 ) (2,465 ) (2,435 ) Net Finance Revenue $ 12,763 $ 9,537 $ 24,035 $ 19,252 The Company has an accrual for charge-backs which totaled $5,150 and $4,221 at June 30, 2020 and December 31, 2019, respectively, and is included in “Accounts payable, accrued expenses, and other current liabilities” in the accompanying condensed consolidated balance sheets. Deposits on vehicles received in advance are accounted for as a liability and recognized into revenue upon completion of each respective transaction. These contract liabilities are included in Note 5 – Accounts Payable, Accrued Expenses, and Other Current Liabilities as customer deposits. During the six months ended June 30, 2020, $1,824 of contract liabilities as of December 31, 2019 were recognized in revenue.
Inventories	Inventories Vehicle and parts inventories are recorded at the lower of cost or net realizable value, with cost determined by the last-in, first-out (“LIFO”) method. Cost includes purchase costs, reconditioning costs, dealer-installed accessories, and freight. For vehicles accepted in trades, the cost is the fair value of such used vehicles at the time of the trade-in. Retail parts, accessories, and other inventories primarily consist of retail travel and leisure specialty merchandise. The current replacement costs of LIFO inventories exceeded their recorded values by $3,670 and $3,719 as of June 30, 2020 and December 31, 2019, respectively.
Cumulative Redeemable Convertible Preferred Stock	Cumulative Redeemable Convertible Preferred Stock The Company’s Series A Preferred Stock (See Note 10 – Preferred Stock) is cumulative redeemable convertible preferred stock. Accordingly, it is classified as temporary equity and is shown net of issuance costs and the relative fair value of warrants issued in conjunction with the issuance of the Series A Preferred Stock. Unpaid preferred dividends are accumulated, compounded at each quarterly dividend date and presented within the carrying value of the Series A Preferred Stock until a dividend is declared by the board of directors.
Stock Based Compensation	Stock Based Compensation The Company accounts for stock-based compensation for employees and directors in accordance with ASC 718, Compensation. ASC 718 requires all share-based payments to employees, including grants of employee stock options, to be recognized in the statement of income based on their fair values. Under the provisions of ASC 718, stock-based compensation costs are measured at the grant date, based on the fair value of the award, and are recognized as expense over the employee’s requisite or derived service period. In accordance with ASC 718, excess tax benefits realized from the exercise of stock-based awards are classified as cash flows from operating activities. All excess tax benefits and tax deficiencies (including tax benefits of dividends on share-based payment awards) are recognized as income tax expense or benefit in the condensed consolidated statements of income.
Earnings Per Share	Earnings Per Share The Company computes basic and diluted earnings/(loss) per share (“EPS”) by dividing net earnings/(loss) by the weighted average number of shares of common stock outstanding during the period. The Company is required, in periods in which it has net income, to calculate EPS using the two-class method. The two-class method is required because the Company’s Series A Preferred Stock have the right to receive dividends or dividend equivalents should the Company declare dividends on its common stock. Under the two-class method, earnings for the period are allocated on a pro-rata basis to the common and preferred stockholders. The weighted-average number of common and preferred shares outstanding during the period is then used to calculate basic EPS for each class of shares. In periods in which the Company has a net loss, basic loss per share is calculated by dividing the loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period. The two-class method is not used, because the preferred stock does not participate in losses. The following table summarizes net income attributable to common stockholders used in the calculation of basic and diluted income per common share: Three months ended Six months ended (Dollars in thousands - except share and per share amounts) June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Distributed earnings allocated to common stock $ - $ - $ - Undistributed earnings allocated to common stock 3,799 205 4,649 611 Net earnings allocated to common stock 3,799 205 4,649 611 Net earnings allocated to participating securities 2,585 128 3,078 382 Net earnings allocated to common stock and participating securities $ 6,384 $ 333 $ 7,727 $ 993 Weighted average shares outstanding for basic earnings per common share 9,715,677 9,811,107 9,736,133 9,753,491 Dilutive effect of warrants and options - - - - Weighted average shares outstanding for diluted earnings per share computation 9,715,677 9,811,107 9,736,133 9,753,491 Basic income per common share $ 0.39 $ 0.02 $ 0.48 $ 0.06 Diluted income per common share $ 0.39 $ 0.02 $ 0.48 $ 0.06 The denominator of the basic and dilutive EPS was calculated as follows: Three months ended Six months ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Weighted average outstanding common shares 8,376,178 8,471,608 8,396,634 8,413,992 Weighted average prefunded warrants 1,339,499 1,339,499 1,339,499 1,339,499 Weighted shares outstanding - basic and diluted 9,715,677 9,811,107 9,736,133 9,753,491 The following common stock equivalent shares were excluded from the computation of the diluted income per share, since their inclusion would have been anti-dilutive: Three months ended Six months ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Shares underlying warrants 4,677,458 4,677,458 4,677,458 4,677,458 Stock options 3,993,759 3,677,580 3,993,759 3,677,580 Share equivalents excluded from EPS 8,671,217 8,355,038 8,671,217 8,355,038 As of June 30, 2020, the Company did not declare and pay the dividend. As a result, the Series A Convertible Preferred Stock was convertible into 6,880,741 shares of common stock. Upon conversion the Company has the option to pay accrued dividends in cash or allow conversion into common stock.
Advertising Costs	Advertising Costs Advertising and promotion costs are charged to operations in the period incurred. Advertising and promotion costs totaled approximately $2,862 and $3,013 for the three months ended June 30, 2020 and June 30, 2019, respectively, and $7,221 and $6,933 for the six months ended June 30, 2020 and June 30, 2019, respectively.
Income Taxes	Income Taxes The Company recognizes deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the financial statements or tax returns. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The Company estimates the degree to which tax assets and credit carry forwards will result in a benefit based on expected profitability by tax jurisdiction. In its interim financial statements, the Company follows the guidance in ASC 270, “Interim Reporting” and ASC 740 “Income Taxes”, whereby the Company utilizes the expected annual effective tax rate in determining its income tax provisions for the interim periods.
Seasonality	Seasonality The Company’s combined operations generally experience modestly higher vehicle sales in the first half of each year during the winter months at the Company’s largest location in Tampa, Florida. In addition, the northern locations in Colorado, Tennessee and Minnesota generally experience modestly higher vehicle sales during the spring months.
Vendor Concentrations	Vendor Concentrations The Company purchases its new recreational vehicles and replacement parts from various manufacturers. During the three months ended June 30, 2020, four major manufacturers accounted for 35.0%, 22.5%, 21.5% and 16.9% of RV purchases. During the six months ended June 30, 2020, four major manufacturers accounted for 31.5%, 21.2%, 20.2% and 19.0% of RV purchases. During the three months ended June 30, 2019, four major manufacturers accounted for 36.1%, 22.3%, 17.0% and 15.4% of RV purchases. During the six months ended June 30, 2019, four major manufacturers accounted for 40.0%, 20.6%, 16.7% and 13.2% of RV purchases. The Company is subject to dealer agreements with each manufacturer. The manufacturer is entitled to terminate the dealer agreement if the Company is in material breach of the agreement terms.
Geographic Concentrations	Geographic Concentrations The percent of revenues generated by the Florida locations and the Colorado locations, which generate greater than 10% of revenues, were as follows (unaudited): Three months ended Six months ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Florida 61 % 64 % 68 % 69 % Colorado 17 % 16 % 14 % 13 % These geographic concentrations increase the exposure to adverse developments related to competition, as well as economic, demographic, weather and other changes in these regions.
Impact of COVID-19	Impact of COVID-19 In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a pandemic which continues to spread throughout the United States and globally. The Company is monitoring the outbreak of COVID-19 and the related business and travel restrictions and changes to behavior intended to reduce its spread, and its impact on operations, financial position, cash flows, inventory, supply chains, purchasing trends, customer payments, and the industry in general, in addition to the impact on its employees. Due to the rapid development and fluidity of this situation, the magnitude and duration of the pandemic and its impact on the Company’s operations and liquidity is uncertain as of the date of this report. While there could ultimately be a material impact on operations and liquidity of the Company, at the time of issuance of this quarterly report on Form 10-Q, the impact could not be determined. Due to the COVID-19 pandemic, the Company took a number of actions effective April 6, 2020 to adjust resources and costs to align with reduced demand caused by the pandemic. These actions included: ● Reduction of its workforce by 25%; ● Temporary reduction of Senior management salaries (April 2020 through May 2020); ● Suspension of 2020 annual pay increases; ● Temporary suspension of 401k match (April 2020 through June 2020); ● Delay non-critical capital projects; ● Focus resources on core sales and service operations As described under Note 7 - Debt below, in order to help mitigate the effects of the COVID-19 pandemic, the Company entered into the Fourth Amendment to the M&T credit agreement on April 15, 2020 and applied for and received funds under loans (“PPP Loans”) under the Paycheck Protection Program of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) with M&T Bank.
Reclassifications	Reclassifications Certain amounts in prior periods have been reclassified to conform to the current period presentation. These reclassifications had no effect on the previously reported net income.
Recently Issued Accounting Standards	Recently Issued Accounting Standards The Company qualifies as an emerging growth company pursuant to the provision of the Jumpstart Our Business Startups (“JOBS”) Act. Section 107 of the JOBS Act provides that an emerging growth company can delay the adoption of certain new accounting standards until those standards would otherwise apply to private companies. The Company has elected to take advantage of the extended transition period provided by the JOBS Act for complying with new or revised accounting standards. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) (“ASU 2016-13”). This standard requires the use of a forward-looking expected loss impairment model for trade and other receivables, held-to-maturity debt securities, loans and other instruments. This standard also requires impairments and recoveries for available-for-sale debt securities to be recorded through an allowance account and revises certain disclosure requirements. In April 2019, the FASB issued ASU 2019-04, Codification Improvements, which provides guidance on accounting for credit losses on accrued interest receivable balances and guidance on including recoveries when estimating the allowance. In May 2019, the FASB issued ASU 2019-05, Targeted Transition Relief, which allows entities with an option to elect fair value for certain instruments upon adoption of Topic 326. The standard is effective for the Company for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company is currently evaluating the impact that the adoption of the provisions of ASU 2016-03 will have on its condensed consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) (“ASU 2020-04”). This standard, effective for reporting periods through December 31, 2022, provides accounting relief for contract modifications that replace an interest rate impacted by reference rate reform (e.g., London Interbank Offered Rate (“LIBOR”)) with a new alternative reference rate. The guidance is applicable to investment securities, receivables, loans, debt, leases, derivatives and hedge accounting elections and other contractual arrangements. The new standard provides temporary optional expedients and exceptions to current GAAP guidance on contract modifications and hedge accounting. Specifically, a modification to transition to an alternative reference rate is treated as an event that does not require contract remeasurement or reassessment of a previous accounting treatment. The standard is generally effective for all contract modifications made and hedging relationships evaluated through December 31, 2022, as a result of reference rate reform. The Company is currently evaluating the impact that this new standard will have on our condensed consolidated financial statements.
Leases	Leases Adoption of new lease standard In February 2016, the FASB issued a new accounting standard that amends the guidance for the accounting and disclosure of leases. This new standard requires that lessees recognize the assets and liabilities that arise from leases on the balance sheet, including leases classified as operating leases, and disclose qualitative and quantitative information about leasing arrangements. The FASB subsequently issued additional amendments to address issues arising from the implementation of the new lease standard. We adopted this standard as of January 1, 2020, using the modified-retrospective method. This approach provides a method for recording existing leases at adoption. We used the adoption date as our date of initial application, and thus comparative-period financial information is not presented for periods prior to the adoption date. In addition, we elected the package of practical expedients permitted under the transition guidance within the new standard, which, among other things, allowed the Company to carry forward the historical lease classification. Adoption of the new standard resulted in total operating lease liabilities of approximately $17,800 and operating lease assets of approximately $17,800 as of January 1, 2020. The standard did not materially impact our Condensed Consolidated Statements of Income and had no impact on our Condensed Consolidated Statements of Cash Flows. Our accounting policies under the new standard are described below. See Note 6, Leases. Lease recognition At inception of a contract, we determine whether an arrangement is or contains a lease. For all leases, we determine the classification as either operating or financing. Operating lease assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments under the lease. Lease recognition occurs at the commencement date and lease liability amounts are based on the present value of lease payments over the lease term. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Because most of our leases do not provide information to determine an implicit interest rate, we use our incremental borrowing rate in determining the present value of lease payments. Operating lease assets also include any lease payments made prior to the commencement date and exclude lease incentives received. Operating lease expense is recognized on a straight-line basis over the lease term. We have lease agreements with both lease and non-lease components, which are generally accounted for together as a single lease component.
Subsequent Events	Subsequent Events Management of the Company has analyzed the activities and transactions subsequent to June 30, 2020 through the date these condensed consolidated financial statements were issued to determine the need for any adjustments to or disclosures within the financial statements. The Company did not identify any recognized or non-recognized subsequent events that would require disclosure in the condensed consolidated financial statements.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Schedule of Disaggregation of Revenue	The following table represents the Company’s disaggregation of revenue: Three months ended Six months ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 New vehicle revenue $ 129,398 $ 94,234 $ 231,842 $ 192,046 Preowned vehicle revenue 62,107 54,812 126,851 109,634 Parts, accessories, and related services 9,165 8,731 19,930 17,506 Finance and insurance revenue 12,763 9,537 24,035 19,252 Campground, rental, and other revenue 528 1,232 2,157 3,165 $ 213,961 $ 168,546 $ 404,815 $ 341,603
Schedule of Revenue Recognized of Finance and Insurance Revenues	The Company recognized finance and insurance revenues, less the additions to the charge-back allowance, which is included in other revenue as follows (unaudited): Three months ended Six months ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Gross finance and insurance revenues $ 13,917 $ 11,009 $ 26,500 $ 21,687 Additions to charge-back allowance (1,154 ) (1,472 ) (2,465 ) (2,435 ) Net Finance Revenue $ 12,763 $ 9,537 $ 24,035 $ 19,252
Summary of Net Income (Loss) Attribute to Common Stockholders	The following table summarizes net income attributable to common stockholders used in the calculation of basic and diluted income per common share: Three months ended Six months ended (Dollars in thousands - except share and per share amounts) June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Distributed earnings allocated to common stock $ - $ - $ - Undistributed earnings allocated to common stock 3,799 205 4,649 611 Net earnings allocated to common stock 3,799 205 4,649 611 Net earnings allocated to participating securities 2,585 128 3,078 382 Net earnings allocated to common stock and participating securities $ 6,384 $ 333 $ 7,727 $ 993 Weighted average shares outstanding for basic earnings per common share 9,715,677 9,811,107 9,736,133 9,753,491 Dilutive effect of warrants and options - - - - Weighted average shares outstanding for diluted earnings per share computation 9,715,677 9,811,107 9,736,133 9,753,491 Basic income per common share $ 0.39 $ 0.02 $ 0.48 $ 0.06 Diluted income per common share $ 0.39 $ 0.02 $ 0.48 $ 0.06
Schedule of Denominator of Basic and Dilutive Earnings Per Share	The denominator of the basic and dilutive EPS was calculated as follows: Three months ended Six months ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Weighted average outstanding common shares 8,376,178 8,471,608 8,396,634 8,413,992 Weighted average prefunded warrants 1,339,499 1,339,499 1,339,499 1,339,499 Weighted shares outstanding - basic and diluted 9,715,677 9,811,107 9,736,133 9,753,491
Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share	The following common stock equivalent shares were excluded from the computation of the diluted income per share, since their inclusion would have been anti-dilutive: Three months ended Six months ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Shares underlying warrants 4,677,458 4,677,458 4,677,458 4,677,458 Stock options 3,993,759 3,677,580 3,993,759 3,677,580 Share equivalents excluded from EPS 8,671,217 8,355,038 8,671,217 8,355,038
Schedule of Geographic Concentration Risk Percentage	The percent of revenues generated by the Florida locations and the Colorado locations, which generate greater than 10% of revenues, were as follows (unaudited): Three months ended Six months ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Florida 61 % 64 % 68 % 69 % Colorado 17 % 16 % 14 % 13 %

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Schedule of Fair Value of Assets Acquired and Liabilities Assumed	As a result, the Company determined its preliminary allocation of the fair value of the assets acquired and the liabilities assumed for these dealerships as follows: 2020 2019 Inventories $ 10,742 $ 12,171 Accounts receivable and prepaid expenses 905 53 Property and equipment 202 77 Intangible assets 2,760 2,630 Total assets acquired 14,609 14,931 Accounts payable, accrued expenses and other current liabilities 719 243 Floor plan notes payable 11,322 11,434 Total liabilities assumed 12,041 11,677 Net assets acquired $ 2,568 $ 3,254
Schedule of Fair Value of Consideration Paid	The fair value of consideration paid was as follows: 2020 2019 Purchase Price: $ 2,749 $ 2,568 Cash consideration paid (107 ) Amounts due (from) to former owners - - Note payable issued to former owners 3,045 $ 2,749 $ 5,506
Schedule of Goodwill Associated with Merger	Goodwill represents the excess of the purchase price over the estimated fair value assigned to tangible and identifiable intangible assets acquired and liabilities assumed from Alliance and Korges. Goodwill associated with the transactions is detailed below: 2020 2019 Total consideration $ 2,749 $ 5,506 Less net assets acquired 2,568 3,254 Goodwill $ 181 $ 2,252
Schedule of Identifiable Intangible Assets Acquired	The following table summarizes the Company’s preliminary allocation of the purchase price to the identifiable intangible assets acquired as of the date of the closings. Gross Asset Amount at Acquisition Date Weighted Average Amortization Period in Years Customer Lists $ 270 7 years Dealer Agreements $ 4,900 7 years Noncompete Agreement $ 220 5 years
Schedule of Pro Forma Financial Information	The following unaudited pro forma financial information summarizes the combined results of operations for the Company as though the purchase of Alliance and Korges had been consummated on January 1, 2019. For the three months ended June 30, For the six months ended June 30, 2020 2019 2020 2019 Revenue $ 219,296 $ 192,239 $ 420,821 $ 388,988 Income before income taxes $ 10,632 $ 4,757 $ 14,975 $ 8,542 Net income $ 8,090 $ 2,490 $ 11,122 $ 4,931

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consist of the following: As of As of June 30, 2020 Dec 31, 2019 (Unaudited) New recreational vehicles $ 72,386 $ 124,096 Pre-owned recreational vehicles 27,591 36,639 Parts, accessories and other 3,973 3,848 103,950 164,583 Less: excess of current cost over LIFO (3,670 ) (3,719 ) $ 100,280 $ 160,864

Accounts Payable, Accrued Exp_2

Accounts Payable, Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Schedule of Accounts Payable, Accrued Expenses and Other Current Liabilities	Accounts payable, accrued expenses and other current liabilities consist of the following: As of As of (Unaudited) Accounts payable $ 13,768 $ 11,231 Other accrued expenses 5,227 3,392 Customer deposits 3,723 2,267 Accrued compensation 3,552 2,388 Accrued charge-backs 5,150 4,221 Accrued interest 133 356 Total $ 31,553 $ 23,855

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities as of June 30, 2020 were as follows: Maturity Date Operating Leases Remaining six months ending December 31, 2020 $ 2,288 2021 4,305 2022 3,940 2023 3,812 2024 3,091 Thereafter 7,018 Total lease payments 24,454 Less: Imputed Interest 3,674 Present value of lease liabilities $ 20,780
Schedule of Supplemental Cash Flow Information Related to Leases	The following presents supplemental cash flow information related to leases during 2020: For the Cash paid for amounts included in the measurement of lease liability: Operating cash flows for operating leases $ 1,956 ROU assets obtained in exchange for lease liabilities: Operating leases $ 655 Finance lease $ 4,015 $ 4,670

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of Floor Plan Notes Payable	The M&T Floor Plan Line of Credit consists of the following: As of As of (Unaudited) Floor plan notes payable, gross $ 92,398 $ 144,133 Debt discount (142 ) (184 ) Floor plan notes payable, net of debt discount $ 92,256 $ 143,949

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Schedule of Warrants Activity	The Company had the following activity related to shares of common stock underlying warrants: Shares Underlying Warrants Weighted Average Exercise Price Warrants outstanding January 1, 2020 4,677,458 $ 11.50 Granted - $ - Cancelled or Expired - $ - Exercised - $ - Warrants outstanding June 30, 2020 4,677,458 $ 11.50
Schedule of Stock Option Activity	Stock option activity is summarized below: Shares Underlying Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Options outstanding at January 1, 2020 3,798,818 $ 10.63 Granted 380,000 $ 8.26 Cancelled or terminated (178,809 ) $ (10.47 ) Exercised - $ - Options outstanding at June 30, 2020 4,000,009 $ 10.41 3.09 $ - Options vested at June 30, 2020 97,553 $ 8.08 3.30 $ -
Schedule of Fair Value Assumptions of Awards	The fair value of the awards of $762 was determined using the Black-Scholes option pricing model based on the following range of assumptions: For the Risk free interest rate 0.29% - 0.43 % Expected term (years) 3.50-3.75 Expected volatility 55% - 72 % Expected dividends 0.00 %

Significant Accounting Polici_4

Significant Accounting Policies (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jan. 02, 2020	Dec. 31, 2019
Accrued charge-backs	$ 5,150		$ 5,150			$ 4,221
Contract liabilities	1,824		1,824
LIFO inventory value exceeds	3,670		3,670			3,719
Advertising and promotion costs	3,013	$ 2,862	$ 7,221	$ 6,933
Reduction in workforce percentage			25.00%
Temporary deduction of salaries description			April 2020 through May 2020
Temporary suspension maturity description			April 2020 through June 2020
Operating lease liability	20,780		$ 20,780
Operating lease, right-of-use asset	$ 17,110		$ 17,110
ASU 2016-02 (Topic 842) [Member]
Operating lease liability					$ 17,800
Operating lease, right-of-use asset					$ 17,800
Vendor 1 [Member]
Concentration risk, percentage	35.00%	36.10%	31.50%	40.00%
Vendor 2 [Member]
Concentration risk, percentage	22.50%	22.30%	21.20%	20.60%
Vendor 3 [Member]
Concentration risk, percentage	21.50%	17.00%	20.20%	16.70%
Vendor 4 [Member]
Concentration risk, percentage	16.90%	15.40%	19.00%	13.20%
Series A Convertible Preferred Stock [Member]
Convertible preferred stock converted into common stock			6,880,741

Significant Accounting Polici_5

Significant Accounting Policies - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue	$ 213,961	$ 168,546	$ 404,815	$ 341,603
New Vehicle Revenue [Member]
Revenue	129,398	94,234	231,842	192,046
Preowned Vehicle Revenue [Member]
Revenue	62,107	54,812	126,851	109,634
Parts, Accessories, and Related Services [Member]
Revenue	9,165	8,731	19,930	17,506
Finance and Insurance Revenue [Member]
Revenue	12,763	9,537	24,035	19,252
Campground, Rental, and Other Revenue [Member]
Revenue	$ 528	$ 1,232	$ 2,157	$ 3,165

Significant Accounting Polici_6

Significant Accounting Policies - Schedule of Revenue Recognized of Finance and Insurance Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Accounting Policies [Abstract]
Gross finance and insurance revenues	$ 13,917	$ 11,009	$ 26,500	$ 21,687
Additions to charge-back allowance	(1,154)	(1,472)	(2,465)	(2,435)
Net Finance Revenue	$ 12,763	$ 9,537	$ 24,035	$ 19,252

Significant Accounting Polici_7

Significant Accounting Policies - Summary of Net Income (Loss) Attribute to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Accounting Policies [Abstract]
Distributed earnings allocated to common stock
Undistributed earnings allocated to common stock	3,799	205	4,649	611
Net earnings allocated to common stock	3,799	205	4,649	611
Net earnings allocated to participating securities	2,585	128	3,078	382
Net earnings allocated to common stock and participating securities	$ 6,384	$ 333	$ 7,727	$ 993
Weighted average shares outstanding for basic earnings per common share	9,715,677	9,811,107	9,736,133	9,753,491
Dilutive effect of warrants and options
Weighted average shares outstanding for diluted earnings per share computation	9,715,677	9,811,107	9,736,133	9,753,491
Basic income per common share	$ 0.39	$ 0.02	$ 0.48	$ 0.06
Diluted income per common share	$ 0.39	$ 0.02	$ 0.48	$ 0.06

Significant Accounting Polici_8

Significant Accounting Policies - Schedule of Denominator of Basic and Dilutive Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Accounting Policies [Abstract]
Weighted average outstanding common shares	8,376,178	8,471,608	8,396,634	8,413,992
Weighted average prefunded warrants	1,339,499	1,339,499	1,339,499	1,339,499
Weighted shares outstanding - basic and diluted	9,715,677	9,811,107	9,736,133	9,753,491

Significant Accounting Polici_9

Significant Accounting Policies - Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share equivalents excluded from EPS	8,671,217	8,355,038	8,671,217	8,355,038
Warrants [Member]
Share equivalents excluded from EPS	4,677,458	4,677,458	4,677,458	4,677,458
Stock Options [Member]
Share equivalents excluded from EPS	3,993,759	3,677,580	3,993,759	3,677,580

Significant Accounting Polic_10

Significant Accounting Policies - Schedule of Geographic Concentration Risk Percentage (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Florida [Member]
Statement Line Items [Line Items]
Concentration risk percentage	61.00%	64.00%	68.00%	69.00%
Colorado [Member]
Statement Line Items [Line Items]
Concentration risk percentage	17.00%	16.00%	14.00%	13.00%

Business Combination (Details N

Business Combination (Details Narrative) - USD ($) $ in Thousands	Aug. 01, 2019	Jun. 30, 2020	Jun. 30, 2020
Acquisition of Dealership [Member]
Revenue related to acquisitions		$ 19,735	$ 33,690
Net loss prior to income taxes related to acquisitions		$ 1,456	$ 2,197
Alliance Coach Inc. [Member]
Debt instrument, maturity date	Aug. 1, 2021
Monthly payments of principal and interest	$ 134
Debt instrument, interest rate	5.00%

Business Combination - Schedule

Business Combination - Schedule of Fair Value of Assets Acquired and Liabilities Assumed (Details) - Acquisition of Dealership [Member] - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Inventories	$ 10,742	$ 12,171
Accounts receivable and prepaid expenses	905	53
Property and equipment	202	77
Intangible assets	2,760	2,630
Total assets acquired	14,609	14,931
Accounts payable, accrued expenses and other current liabilities	719	243
Floor plan notes payable	11,322	11,434
Total liabilities assumed	12,041	11,677
Net assets acquired	$ 2,568	$ 3,254

Business Combination - Schedu_2

Business Combination - Schedule of Fair Value of Consideration Paid (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Cash consideration paid	$ (2,749)
Acquisition of Dealership [Member]
Purchase Price:	2,749		$ 2,568
Cash consideration paid			(107)
Amounts due (from) to former owners
Note payable issued to former owners			3,045
Total consideration	$ 2,749		$ 5,506

Business Combination - Schedu_3

Business Combination - Schedule of Goodwill Associated with Merger (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Goodwill	$ 40,616	$ 38,979
Acquisition of Dealership [Member]
Total consideration	2,749	5,506
Less net assets acquired	2,568	3,254
Goodwill	$ 181	$ 2,252

Business Combination - Schedu_4

Business Combination - Schedule of Identifiable Intangible Assets Acquired (Details) - Acquisition of Dealership [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Customer Lists [Member]
Intangible Assets, Gross Asset Amount at Acquisition Date	$ 270
Intangible Assets, Weighted Average Amortization Period in Years	7 years
Dealer Agreements [Member]
Intangible Assets, Gross Asset Amount at Acquisition Date	$ 4,900
Intangible Assets, Weighted Average Amortization Period in Years	7 years
NonCompete Agreement [Member]
Intangible Assets, Gross Asset Amount at Acquisition Date	$ 220
Intangible Assets, Weighted Average Amortization Period in Years	5 years

Business Combination - Schedu_5

Business Combination - Schedule of Pro Forma Financial Information (Details) - Acquisition of Dealership [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue	$ 219,296	$ 192,239	$ 420,821	$ 388,988
Income before income taxes	10,632	4,757	14,975	8,542
Net income	$ 8,090	$ 2,490	$ 11,122	$ 4,931

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Inventories, gross	$ 103,950	$ 164,583
Less: excess of current cost over LIFO	(3,670)	(3,719)
Inventories, net	100,280	160,864
New Recreational Vehicles [Member]
Inventories, gross	72,386	124,096
Pre-owned Recreational Vehicles [Member]
Inventories, gross	27,591	36,639
Parts, Accessories and Other [Member]
Inventories, gross	$ 3,973	$ 3,848

Accounts Payable, Accrued Exp_3

Accounts Payable, Accrued Expenses and Other Current Liabilities - Schedule of Accounts Payable, Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Accounts payable	$ 13,768	$ 11,231
Other accrued expenses	5,227	3,392
Customer deposits	3,723	2,267
Accrued compensation	3,552	2,388
Accrued charge-backs	5,150	4,221
Accrued interest	133	356
Total	$ 31,553	$ 23,855

Leases (Details Narrative)

Leases (Details Narrative) - USD ($) $ in Thousands	Mar. 10, 2020	Jun. 30, 2020	Jun. 30, 2020	May 19, 2020	Dec. 31, 2019
Lease term		12 months	12 months
Property and equipment		$ 90,809	$ 90,809		$ 86,876
Weighted-average remaining lease term		6 years 6 months	6 years 6 months
Weighted-average discount rate of operating leases		5.00%	5.00%
Operating lease costs		$ 1,078	$ 1,956
Short term leases
LD Murfreesboro TN Landlord, LLC [Member]
Proceeds from sale of land	$ 4,921
Korges Enterprises, Inc [Member]
Property and equipment				$ 4,015
Financing liability offset amount				$ 4,015
Maximum [Member]
Lease renewal terms		20 years	20 years

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Liabilities (Details) $ in Thousands	Jun. 30, 2020USD ($)
Leases [Abstract]
Remaining six months ending December 31, 2020	$ 2,288
2021	4,305
2022	3,940
2023	3,812
2024	3,091
Thereafter	7,018
Total lease payments	24,454
Less: Imputed Interest	3,674
Present value of lease liabilities	$ 20,780

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liability: Operating cash flows for operating leases	$ 1,078	$ 1,956
ROU assets obtained in exchange for lease liabilities: Operating leases		655
ROU assets obtained in exchange for lease liabilities: Finance lease		4,015
ROU assets obtained in exchange for lease liabilities		$ 4,670

Debt (Details Narrative)

Debt (Details Narrative) - USD ($) $ in Thousands	May 04, 2020	Apr. 30, 2020	Apr. 28, 2020	Mar. 06, 2020	Mar. 15, 2018	Jun. 30, 2020	Jun. 30, 2019
Repayments under long term debt with bank of America						$ 725	$ 1,450
PPP Loan [Member]
Debt instrument maturity date			Apr. 29, 2022
Promissory notes aggregate amount			$ 6,831,250
Promissory Note [Member]
Debt instrument maturity date	May 4, 2022	Apr. 30, 2022
Promissory notes aggregate amount	$ 636,665	$ 1,236,040
Note bear interest rate, percent	1.00%	1.00%
Third Amendment [Member]
Line of credit maximum borrowing capacity				$ 6,136
Interest rate						2.4375%
M&T Facility [Member]
Line of credit maximum borrowing capacity					$ 200,000
Line of credit facility, expiration date					Mar. 15, 2021
Maximum amount of cash dividends						$ 15,105
BOA Floor Plan [Member]
Repayments of lines of credit					$ 96,740
BOA Term Loan with M&T Facility [Member]
Repayments under long term debt with bank of America					8,820
M&T Floor Plan Line of Credit [Member]
Line of credit maximum borrowing capacity					$ 175,000
Line of credit rate description					The Base Rate is defined in the M&T Facility as the highest of M&T's prime rate, the Federal Funds rate plus 0.50% or one-month LIBOR plus 1.00%.	The $175,000 M&T Floor Plan Line of Credit may be used to finance new vehicle inventory, but only $45,000 may be used to finance pre-owned vehicle inventory and $4,500 may be used to finance rental units. Principal becomes due upon the sale of the related vehicle.
Interest rate						2.2782%
Maximum draw down for rental units					$ 4,500
Line of credit commitments percentage					0.15%
M&T Floor Plan Line of Credit [Member] | Pre-owned Vehicle Inventory [Member]
Line of credit maximum borrowing capacity					$ 45,000
M&T Floor Plan Line of Credit [Member] | LIBOR [Member] | Minimum [Member]
Percentage of leverage ratio					2.00%
M&T Floor Plan Line of Credit [Member] | LIBOR [Member] | Maximum [Member]
Percentage of leverage ratio					2.30%
M&T Floor Plan Line of Credit [Member] | Base Rate [Member] | Minimum [Member]
Percentage of leverage ratio					1.00%
M&T Floor Plan Line of Credit [Member] | Base Rate [Member] | Maximum [Member]
Percentage of leverage ratio					1.30%
M&T Floor Plan Line of Credit [Member] | Third Amendment [Member]
Line of credit rate description				The mortgage shall bear interest at (a) LIBOR plus an applicable margin of 2.25% or (b) the Base Rate plus a margin of 1.25%.
Repayments of loan monthly installments				$ 30
Debt instrument maturity date				Mar. 15, 2021
Line of credit mortgage balance						$ 5,006
M&T Floor Plan Line of Credit [Member] | Third Amendment [Member] | LIBOR [Member]
Percentage of leverage ratio				2.25%
M&T Floor Plan Line of Credit [Member] | Third Amendment [Member] | Base Rate [Member]
Percentage of leverage ratio				1.25%
M&T Term Loan [Member]
Repayments of loan monthly installments					$ 242
Debt instrument maturity date					Mar. 15, 2021
Interest rate						2.6875%
Term loan					$ 20,000
Outstanding letters of credit						$ 14,200
M&T Term Loan [Member] | LIBOR [Member] | Minimum [Member]
Percentage of leverage ratio					2.25%
M&T Term Loan [Member] | LIBOR [Member] | Maximum [Member]
Percentage of leverage ratio					3.00%
M&T Term Loan [Member] | Base Rate [Member] | Minimum [Member]
Percentage of leverage ratio					1.25%
M&T Term Loan [Member] | Base Rate [Member] | Maximum [Member]
Percentage of leverage ratio					2.00%
M&T Revolver [Member]
Line of credit maximum borrowing capacity					$ 5,000
M&T Revolver [Member] | Minimum [Member]
Line of credit commitments percentage					0.25%
M&T Revolver [Member] | Maximum [Member]
Line of credit commitments percentage					0.50%
M&T Revolver [Member] | LIBOR [Member] | Minimum [Member]
Percentage of leverage ratio					2.25%
M&T Revolver [Member] | LIBOR [Member] | Maximum [Member]
Percentage of leverage ratio					3.00%
M&T Revolver [Member] | Base Rate [Member] | Minimum [Member]
Percentage of leverage ratio					1.25%
M&T Revolver [Member] | Base Rate [Member] | Maximum [Member]
Percentage of leverage ratio					2.00%

Debt - Schedule of Floor Plan N

Debt - Schedule of Floor Plan Notes Payable (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Floor plan notes payable, net of debt discount	$ 92,256	$ 143,949
Floor Plan Notes Payable [Member]
Floor plan notes payable, gross	92,398	144,133
Debt discount	(142)	(184)
Floor plan notes payable, net of debt discount	$ 92,256	$ 143,949

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Provision for federal and state income taxes	$ 2,536	$ 2,099	$ 3,836	$ 3,284
Effective tax rates, percentage	25.00%	53.00%	27.00%	47.00%
Federal statutory rate, percentage			21.00%

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($) $ in Thousands	Apr. 06, 2020	May 31, 2018	Jun. 30, 2020
Chief Financial Officer [Member] | Employee Relocation [Member]
Relocation allowance		$ 100
Chief Financial Officer [Member] | Maximum [Member]
Percentage of target bonus on base salary		150.00%
Senior Management [Member]
Percentage of target bonus on base salary	25.00%
Non-Employee Members [Member]
Annual cash compensation			$ 50
Committee of Board of Directors [Member]
Annual cash compensation			5
Chairman of Any Committees [Member]
Annual cash compensation			10
Employment Agreement [Member] | Chief Executive Officer [Member]
Initial base salary			$ 540
Percentage of target bonus on base salary			100.00%
Employment Agreement [Member] | Chief Financial Officer [Member]
Initial base salary		$ 325
Percentage of target bonus on base salary		75.00%

Preferred Stock (Details Narrat

Preferred Stock (Details Narrative) $ / shares in Units, $ in Thousands	Mar. 15, 2018USD ($)$ / sharesshares	Jun. 30, 2020USD ($)$ / shares
Preferred stock conversion price per share	$ 9.72
Market price per share on the date of issuance	$ 10.29
Beneficial conversion feature on series a convertible preferred stock | $	$ 3,392
Reduction in preferred stock | $	$ 2,035
Measurement Input, Expected Term [Member]
Fair value assumptions, measurement input, term	5 years
Measurement Input, Price Volatility [Member]
Fair value assumptions, measurement input, percentages	0.39
Measurement Input, Risk Free Interest Rate [Member]
Fair value assumptions, measurement input, percentages	0.0261
Measurement Input, Expected Dividend Rate [Member]
Fair value assumptions, measurement input, percentages	0
Common Stock [Member]
Warrant redemption price per share	$ 0.01
Common Stock [Member] | Exceeds Price Point [Member]
Common stock market price per share	$ 24
Placement Agent [Member]
Warrant term	5 years
Warrant to purchase common shares | shares	178,882
Warrant exercise price	$ 11.50
Aggregate offering costs | $	$ 2,981
Fair value of warrants | $	$ 632
Series A Preferred Stock [Member]
Preferred stock dividend rate percentage		10.00%
Weighted average price trading price after second anniversary force conversion	$ 25
Warrant term	5 years
Warrant to purchase common shares | shares	596,273
Warrant exercise price	$ 11.50
Dividend payment on preferred stock | $		$ 1,684
Preferred stock dividend price per shares		$ 5.55
Private Placement [Member]
Sale of stock consideration | $	$ 94,800
Private Placement [Member] | Series A Preferred Stock [Member]
Number of shares issued | shares	600,000
Number of shares issued, value | $	$ 60,000
Preferred stock conversion price per share	$ 10.0625
Preferred stock dividend rate percentage	8.00%
Issue price of preferred stock | $	$ 100
Dividend rate description	Accrued and unpaid dividends, until paid in full in cash, will accrue at the then applicable Dividend Rate plus 2%. The Dividend Rate will be increased to 11% per annum, compounded quarterly, in the event that the Company's senior indebtedness less unrestricted cash during any trailing twelve-month period ending at the end of any fiscal quarter is greater than 2.25 times earnings before interest, taxes, depreciation and amortization ("EBITDA"). The Dividend Rate will be reset to 8% at the end of the first fiscal quarter when the Company's senior indebtedness less unrestricted cash during the trailing twelve-month period ending at the end of such quarter is less than 2.25 times EBITDA.
Private Placement [Member] | Series A Preferred Stock [Member] | Maximum [Member]
Preferred stock dividend rate percentage	11.00%
Private Placement [Member] | Series A Preferred Stock [Member] | Board of Directors [Member]
Number of preferred stock owned | shares	500,000

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands

May 20, 2019

Jun. 15, 2018

May 31, 2018

May 07, 2018

Mar. 23, 2018

Mar. 16, 2018

Mar. 15, 2018

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Dec. 31, 2019

Common stock, shares authorized

100,000,000

100,000,000

100,000,000

Common stock, par value

$ 0.0001

$ 0.0001

$ 0.0001

Preferred stock, shares authorized

5,000,000

5,000,000

5,000,000

Preferred stock, par value

$ 0.0001

$ 0.0001

$ 0.0001

Stock based compensation

$ 340

$ 1,112

$ 1,020

$ 2,626

Number of shares options granted

380,000

Expected dividend yield

0.00%

Stock based compensation related to awards with market conditions

220

1,059

$ 774

2,529

Stock based compensation related to awards with service conditions

$ 91

$ 53

$ 179

$ 96

Minimum [Member]

Expected term

3 years 9 months

Expected risk-free rate

0.43%

Expected annual volatility

72.00%

Maximum [Member]

Expected term

3 years 6 months

Expected risk-free rate

0.29%

Expected annual volatility

55.00%

Non-Employee Directors [Member]

Fair value of the options issued

$ 350

Expected term

3 years 6 months

Expected risk-free rate

2.42%

Expected dividend yield

0.00%

Expected annual volatility

39.00%

Stock options vesting term

3 years

Granted stock options term

5 years

Stock option issued to purchase units

14,218

Employees [Member]

Number of shares options granted

505,000

Fair value of the options issued

$ 957

Expected term

3 years 9 months

Expected dividend yield

0.00%

Stock options vesting term

4 years

Granted stock options term

5 years

Employees [Member] | Minimum [Member]

Stock options exercise price per share

$ 4.50

Expected risk-free rate

1.70%

Expected annual volatility

52.00%

Employees [Member] | Maximum [Member]

Stock options exercise price per share

$ 8.50

Expected risk-free rate

2.51%

Expected annual volatility

55.00%

Employees and Board Members [Member]

Number of shares options granted

380,000

Fair value of the options issued

$ 762

Stock options vesting term

4 years

Granted stock options term

5 years

Employees and Board Members [Member] | Minimum [Member]

Stock options exercise price per share

$ 7.91

$ 7.91

Employees and Board Members [Member] | Maximum [Member]

Stock options exercise price per share

$ 8.50

$ 8.50

Non-Redeemable Pre-funded Warrants [Member]

Number of warrant to purchase shares of common stock

1,339,499

1,339,499

Warrant exercise price

$ 0.01

$ 0.01

Five Year Incentive Stock Options [Member]

Number of shares options granted

3,573,113

Stock options exercise price per share

$ 11.10

Fair value of the options issued

$ 2,357

$ 15,004

Expected term

5 years

5 years

Expected risk-free rate

2.74%

2.62%

Expected dividend yield

0.00%

0.00%

Expected annual volatility

54.70%

42.80%

Five Year Incentive Stock Options [Member] | Share-based Compensation Award, Tranche One [Member]

Stock option vesting percentage

30.00%

Stock option vested price per share

$ 13.125

Stock options vesting term

11 months 19 days

8 months 26 days

Five Year Incentive Stock Options [Member] | Share-based Compensation Award, Tranche Two [Member]

Stock option vesting percentage

30.00%

Stock option vested price per share

$ 17.50

Stock options vesting term

1 year 9 months

1 year 7 months 21 days

Five Year Incentive Stock Options [Member] | Share-based Compensation Award, Tranche Three [Member]

Stock option vesting percentage

30.00%

Stock option vested price per share

$ 21.875

Stock options vesting term

2 years 1 month 24 days

2 years 2 months 27 days

Five Year Incentive Stock Options [Member] | Share-based Compensation Award, Tranche Four [Member]

Stock option vesting percentage

10.00%

Stock option vested price per share

$ 35

Stock options vesting term

2 years 11 months 15 days

3 years 1 month 16 days

Five Year Incentive Stock Options [Member] | Non-Employee Directors [Member]

Stock options exercise price per share

$ 11.10

Number of options forfeited

15,123

Stock options vesting term

3 years

Granted stock options term

5 years

Stock option issued to purchase units

99,526

CEO Stock Options [Member]

Number of shares options granted

1,458,414

CFO Stock Options [Member]

Number of shares options granted

583,366

583,366

Former CFO Stock Options [Member]

Number of options forfeited

583,366

New Five Year Incentive Stock Options [Member] | Non-Employee Directors [Member]

Stock option issued to purchase units

15,123

Stock option issued to purchase units price per share

$ 10.40

Stock Options [Member]

Compensation cost unrecognized

$ 1,699

$ 1,699

Weighted average service period

2 years 7 months 13 days

Weighted average grant date fair value of awards issued

$ 2.33

2018 Long-Term Incentive Equity Plan [Member]

Maximum percentage on options may be issued

13.00%

Options issuable under stock price trigger

$ 8.75

Number of common shares reserved for future issuance

600,000

424,557

424,557

2019 Employee Stock Purchase Plan [Member]

Number of common shares reserved for future issuance

900,000

Common stock purchase price, description

Participants in the plan may purchase shares of common stock at a purchase price which will not be less than the lesser of 85% of the fair market value per share of the common on the first day of the purchase period or the last day of the purchase period.

Stock based compensation

$ 33

$ 71

Increased Plan by Formula [Member] | 2018 Long-Term Incentive Equity Plan [Member]

Maximum percentage on options may be issued

18.00%

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Warrants Activity (Details)	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Equity [Abstract]
Shares of Common Stock Underlying Warrants outstanding beginning balance | shares	4,677,458
Shares of Common Stock Underlying Warrants Granted | shares
Shares of Common Stock Underlying Warrants Cancelled or Expired | shares
Shares of Common Stock Underlying Warrants Exercised | shares
Shares of Common Stock Underlying Warrants outstanding ending balance | shares	4,677,458
Weighted Average Exercise Price beginning balance | $ / shares	$ 11.50
Weighted Average Exercise Price Granted | $ / shares
Weighted Average Exercise Price Cancelled or Expired | $ / shares
Weighted Average Exercise Price Exercised | $ / shares
Weighted Average Exercise Price ending balance | $ / shares	$ 11.50

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares
Equity [Abstract]
Shares of Common Stock Underlying Options, outstanding, January 1, 2020 | shares	3,798,818
Shares of Common Stock Underlying Options, Granted | shares	380,000
Shares of Common Stock Underlying Options, Cancelled or terminated | shares	(178,809)
Shares of Common Stock Underlying Options, Exercised | shares
Shares of Common Stock Underlying Options, outstanding, June 30, 2020 | shares	4,000,009
Shares of Common Stock Underlying Options, vested, June 30, 2020 | shares	97,553
Weighted Average Exercise Price outstanding, January 1, 2020 | $ / shares	$ 10.63
Weighted Average Exercise Price, Granted | $ / shares	8.26
Weighted Average Exercise Price, Cancelled or terminated | $ / shares	(10.47)
Weighted Average Exercise Price, Exercised | $ / shares
Weighted Average Exercise Price outstanding, June 30, 2020 | $ / shares	10.41
Weighted Average Exercise Price, vested, June 30, 2020 | $ / shares	$ 8.08
Weighted Average Remaining Contractual Life outstanding, June 30, 2020	3 years 1 month 2 days
Weighted Average Remaining Contractual Life, vested, June 30, 2020	3 years 3 months 19 days
Aggregate Intrinsic Value, outstanding, June 30, 2020 | $
Aggregate Intrinsic Value, vested, June 30, 2020 | $

Stockholders' Equity - Schedu_3

Stockholders' Equity - Schedule of Fair Value Assumptions of Awards (Details)	6 Months Ended
	Jun. 30, 2020
Expected dividends	0.00%
Maximum [Member]
Risk free interest rate	0.29%
Expected term (years)	3 years 6 months
Expected volatility	55.00%
Minimum [Member]
Risk free interest rate	0.43%
Expected term (years)	3 years 9 months
Expected volatility	72.00%