LM FUNDING AMERICA, INC.
For the period ended Sep 30, 2025. Filed Nov 14, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 14, 2025
PWCM$0.54+3.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Financial Statements
LM Funding America, Inc. and Subsidiaries Consolidated Balance Sheets
| September 30, | December 31, | |
|---|---|---|
| 2025(unaudited) | 2024 | |
| Assets | ||
| Cash | $291,571 | $3,378,152 |
| Digital assets - current (Note 3) | 11,399,701 | 9,021,927 |
| Finance receivables | 28,148 | 21,051 |
| Marketable securities (Note 6) | 23,630 | 27,050 |
| Receivable from sale of Symbiont assets (Note 6) | - | 200,000 |
| Prepaid expenses and other assets | 904,079 | 827,237 |
| Digital assets - collateral (Note 3) | 5,500,000 | - |
| Income tax receivable | 31,187 | 31,187 |
| Current assets | 18,178,316 | 13,506,604 |
| Fixed assets, net (Note 4) | 15,655,533 | 18,376,948 |
| Intangible assets, net (Note 4) | 6,748,137 | 5,478,958 |
| Deposits on mining equipment (Note 5) | 501,228 | 467,172 |
| Long-term investments - equity securities (Note 6) | 5,598 | 4,255 |
| Investment in Seastar Medical Holding Corporation (Note 6) | 58,995 | 200,790 |
| Digital assets - long-term (Note 3) | 16,402,955 | - |
| Digital assets - collateral (Note 3) | 1,430,000 | 5,000,000 |
| Right of use assets (Note 8) | 785,918 | 938,641 |
| Other assets | 389,119 | 73,857 |
| Long-term assets | 41,977,483 | 30,540,621 |
| Total assets | $60,155,799 | $44,047,225 |
| Liabilities and stockholders' equity | ||
| Accounts payable and accrued expenses | 3,071,168 | 989,563 |
| Note payable - short-term (Note 7) | 6,579,828 | 386,312 |
| Due to related parties (Note 10) | 59,337 | 15,944 |
| Current portion of lease liability (Note 8) | 190,821 | 170,967 |
| Total current liabilities | 9,901,154 | 1,562,786 |
| Note payable - long-term (Note 7) | 1,243,397 | 6,365,345 |
| Lease liability - net of current portion (Note 8) | 605,234 | 776,535 |
| Long-term liabilities | 1,848,631 | 7,141,880 |
| Total liabilities | 11,749,785 | 8,704,666 |
| Stockholders' equity (Note 9) | ||
| Preferred stock, par value $.001; 150,000,000 shares authorized; no shares issued and outstanding as of September 30, 2025 and December 31, 2024 | - | - |
| Common stock, par value $.001; 350,000,000 shares authorized; 15,517,988 and 5,133,412 shares issued and outstanding as of September 30, 2025 and December 31, 2024 | 14,987 | 4,602 |
| Additional paid-in capital | 124,810,596 | 102,685,470 |
| Accumulated deficit | (74,690,296) | (65,662,731) |
| Total LM Funding America stockholders' equity | 50,135,287 | 37,027,341 |
| Non-controlling interest | (1,729,273) | (1,684,782) |
| Total stockholders' equity | 48,406,014 | 35,342,559 |
| Total liabilities and stockholders’ equity | $60,155,799 | $44,047,225 |
LM Funding America, Inc. and Subsidiaries Consolidated Statements of Operations (unaudited)
| Three Months ended September 30, | Nine Months ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenues: | ||||
| Digital mining revenues | $2,010,404 | $1,127,455 | $6,090,708 | $8,618,436 |
| Specialty finance revenue | 141,634 | 97,558 | 303,968 | 303,222 |
| Rental revenue | 26,265 | 30,460 | 83,288 | 92,766 |
| Total revenues | 2,178,303 | 1,255,473 | 6,477,964 | 9,014,424 |
| Operating costs and expenses: | ||||
| Digital mining cost of revenues (exclusive of depreciation and amortization shown below) | 1,177,184 | 730,716 | 4,013,878 | 5,742,773 |
| Curtailment and energy sales | (151,887) | - | (524,842) | - |
| Staff costs and payroll | 2,537,105 | 1,567,984 | 4,675,209 | 3,648,898 |
| Depreciation and amortization | 1,972,133 | 1,935,835 | 6,049,054 | 5,787,390 |
| Gain on fair value of Bitcoin, net | (1,032,374) | (104,744) | (2,983,537) | (3,096,774) |
| Impairment loss on mining equipment | - | - | - | 1,188,058 |
| Professional fees | 443,335 | 628,686 | 1,116,649 | 1,622,914 |
| Selling, general and administrative | 448,487 | 209,088 | 1,133,871 | 582,675 |
| Real estate management and disposal | 14,687 | 31,144 | 73,421 | 89,430 |
| Collection costs | 1,702 | 15,054 | 27,643 | 36,396 |
| Settlement costs with associations | - | - | 3,693 | - |
| Loss on disposal of assets | - | 12,449 | 286,359 | 54,506 |
| Other operating costs | 284,929 | 229,784 | 799,889 | 667,401 |
| Total operating costs and expenses | 5,695,301 | 5,255,996 | 14,671,287 | 16,323,667 |
| Operating loss | (3,516,998) | (4,000,523) | (8,193,323) | (7,309,243) |
| Unrealized gain (loss) on marketable securities | 10,400 | (3,296) | (3,420) | 984 |
| Impairment loss on prepaid machine deposits | - | (12,941) | - | (12,941) |
| Unrealized gain (loss) on investment and equity securities | 16,422 | (346,866) | (140,452) | (852,624) |
| Gain (loss) on fair value of purchased Bitcoin, net | - | - | (52,704) | 57,926 |
| Other income - coupon sales | - | - | - | 4,490 |
| Interest expense | (235,282) | (124,035) | (683,734) | (231,754) |
| Interest income | 916 | 98,343 | 2,592 | 124,696 |
| Loss before income taxes | (3,724,542) | (4,389,318) | (9,071,041) | (8,218,466) |
| Income tax expense | - | - | - | - |
| Net loss | $(3,724,542) | $(4,389,318) | $(9,071,041) | $(8,218,466) |
| Less: loss (gain) attributable to non-controlling interest | (4,903) | 105,043 | 43,476 | 265,296 |
| Net loss attributable to LM Funding America Inc. | $(3,729,445) | $(4,284,275) | $(9,027,565) | $(7,953,170) |
| Less: deemed dividends (Note 9) | (347,782) | (1,704,305) | (347,782) | (1,704,305) |
| Net loss attributable to common shareholders | $(4,077,227) | $(5,988,580) | $(9,375,347) | $(9,657,475) |
| Basic loss per common share (Note 1) | $(0.41) | $(2.25) | $(1.39) | $(3.82) |
| Diluted loss per common share (Note 1) | $(0.41) | $(2.25) | $(1.39) | $(3.82) |
| Weighted average number of common shares outstanding | ||||
| Basic | 9,986,433 | 2,659,974 | 6,768,862 | 2,525,160 |
| Diluted | 9,986,433 | 2,659,974 | 6,768,862 | 2,525,160 |
LM Funding America, Inc. and Subsidiaries Consolidated Statements of Cash Flows
(unaudited)
| Nine Months ended September 30, | ||||
|---|---|---|---|---|
| 2025 · 2024 | ||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||
| Net loss | $(9,071,041) | $(8,218,466) | ||
| Adjustments to reconcile net loss to net cash used in operating activities | ||||
| Depreciation and amortization | 6,049,054 | 5,787,390 | ||
| Noncash lease expense | 152,723 | 79,629 | ||
| Amortization of debt issue costs | 66,994 | - | ||
| Stock issued for services | - | 100,001 | ||
| Stock compensation | - | 76,322 | ||
| Stock option expense | 259,384 | 332,415 | ||
| Accrued investment income | - | (123,076) | ||
| Accrued interest expense on finance lease | 42,875 | - | ||
| Digital assets other income | - | (4,490) | ||
| Gain on fair value of Bitcoin, net | (2,930,833) | (3,154,700) | ||
| Impairment loss on mining machines | - | 1,188,058 | ||
| Impairment loss on hosting deposits | - | 12,941 | ||
| Unrealized loss (gain) on marketable securities | 3,420 | (984) | ||
| Unrealized loss on investment and equity securities | 140,452 | 852,624 | ||
| Loss on disposal of fixed assets | 286,359 | 54,506 | ||
| Change in operating assets and liabilities: | ||||
| Prepaid expenses and other assets | 391,857 | 3,650,696 | ||
| Repayments to related party | 43,393 | 41,541 | ||
| Accounts payable and accrued expenses | 2,081,605 | (664,681) | ||
| Mining of digital assets | (6,090,708) | (8,618,436) | ||
| Lease liability payments | (194,322) | (81,304) | ||
| Net cash used in operating activities | (8,768,788) | (8,690,014) | ||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||
| Net collections of finance receivables - original product | (3,145) | (4,618) | ||
| Net collections of finance receivables - special product | (3,952) | (1,571) | ||
| Capital expenditures | (635,691) | (1,228,428) | ||
| Proceeds from sale of fixed assets | 953,153 | 78,806 | ||
| Collection of note receivable | 200,000 | 1,449,066 | ||
| Acquisition of hosting site | (4,230,368) | - | ||
| Investment in notes receivable | - | (2,867,195) | ||
| Investment in digital assets - Bitcoin | (18,673,167) | - | ||
| Investment in digital assets - Tether | (29,572) | - | ||
| Proceeds from sale of Bitcoin | 6,984,091 | 6,821,185 | ||
| Proceeds from the sale of Tether | 29,460 | 3,003 | ||
| Deposits for mining equipment | (1,004,326) | - | ||
| Distribution to members | (1,015) | (19,616) | ||
| Net cash provided by (used in) investing activities | (16,414,532) | 4,230,632 | ||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||
| Proceeds from borrowings, net of issuance costs | 1,240,195 | 6,344,084 | ||
| Insurance financing repayments | (588,123) | (547,022) | ||
| Exercise of options | - | 25,000 | ||
| Proceeds from warrant exercise | 95,999 | - | ||
| Proceeds from the issuance of common stock, net of issuance costs | 21,348,668 | 2,148,704 | ||
| Net cash provided by financing activities | 22,096,739 | 7,970,766 | ||
| NET INCREASE (DECREASE) IN CASH | (3,086,581) | 3,511,384 | ||
| CASH - BEGINNING OF PERIOD | 3,378,152 | 2,401,831 | ||
| CASH - END OF PERIOD | $291,571 | 5,913,215 | ||
| SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES | ||||
| Insurance financing | $352,501 | $ | - | |
| Change in accounting principle (see Note 1) | $ | - | $614,106 | |
| Issuance of common stock as retainer for services | $431,460 | $ | - | |
| SUPPLEMENTAL DISCLOSURES OF CASHFLOW INFORMATION | ||||
| Cash paid for taxes | $ | - | $ | - |
| Cash paid for interest | $489,083 | $222,697 | ||
LM Funding America, Inc. and Subsidiaries Consolidated Statements of Changes in Stockholders’ Equity
For the Three and Nine Months Ended September 30, 2025 and 2024
(unaudited)
| Common Stock | ||||||
|---|---|---|---|---|---|---|
| Shares | Amount | Additional paid-in capital | Accumulated Deficit | Non-Controlling Interest | Total Equity | |
| Balance - December 31, 2023 | 2,492,964 | $2,493 | $95,145,376 | $(58,961,461) | $(1,325,110) | $34,861,298 |
| Stock option expense | - | - | 110,804 | - | - | 110,804 |
| Stock compensation | - | - | 71,047 | - | - | 71,047 |
| Cumulative effect of change in accounting principle (See Note 1) | - | - | - | 614,106 | - | 614,106 |
| Net income | - | - | - | 1,939,617 | 414,221 | 2,353,838 |
| Balance - March 31, 2024 | 2,492,964 | $2,493 | $95,327,227 | $(56,407,738) | $(910,889) | $38,011,093 |
| Stock option expense | - | - | 110,805 | - | - | 110,805 |
| Member distributions | - | - | - | - | (19,616) | (19,616) |
| Stock compensation | - | - | 5,275 | - | - | 5,275 |
| Net loss | - | - | - | (5,608,512) | (574,474) | (6,182,986) |
| Balance - June 30, 2024 | 2,492,964 | 2,493 | 95,443,307 | (62,016,250) | (1,504,979) | 31,924,571 |
| Stock issued for option exercise | 6,219 | 6 | 24,994 | - | - | 25,000 |
| Stock issued for services | 29,674 | 30 | 99,971 | - | - | 100,001 |
| Warrant exercise | 149,185 | 15 | - | - | - | 15 |
| Shares issued for cash in public offering, net | 278,000 | 278 | 2,148,411 | - | - | 2,148,689 |
| Stock compensation | - | - | 110,806 | - | - | 110,806 |
| Net loss | - | - | - | (4,284,275) | (105,043) | (4,389,318) |
| Balance - September 30, 2024 | 2,956,042 | $2,822 | $97,827,489 | $(66,300,525) | $(1,610,022) | $29,919,764 |
| Balance - December 31, 2024 | 5,133,412 | $4,602 | $102,685,470 | $(65,662,731) | $(1,684,782) | $35,342,559 |
| Stock option expense | - | - | 110,805 | - | - | 110,805 |
| Member distributions | - | - | - | - | (1,015) | (1,015) |
| Issuance costs | - | - | (6,285) | - | - | (6,285) |
| Net loss | - | - | - | (5,398,674) | (8,325) | (5,406,999) |
| Balance - March 31, 2025 | 5,133,412 | $4,602 | $102,789,990 | $(71,061,405) | $(1,694,122) | $30,039,065 |
| Stock option expense | - | - | 24,621 | - | - | 24,621 |
| Net income (loss) | - | - | - | 100,554 | (40,054) | 60,500 |
| Balance - June 30, 2025 | 5,133,412 | 4,602 | 102,814,611 | (70,960,851) | (1,734,176) | 30,124,186 |
| Stock option expense | - | - | 123,958 | - | - | 123,958 |
| Stock issued for services | 319,600 | 320 | 431,140 | - | - | 431,460 |
| Shares issued under equity offering, net | 10,031,643 | 10,032 | 21,344,921 | - | - | 21,354,953 |
| Warrant exercise | 33,333 | 33 | 95,966 | - | - | 95,999 |
| Net income (loss) | - | - | - | (3,729,445) | 4,903 | (3,724,542) |
| Balance - September 30, 2025 | 15,517,988 | 14,987 | 124,810,596 | (74,690,296) | (1,729,273) | 48,406,014 |
LM FUNDING AMERICA, INC. AND SUBSIDIARIES
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.