Penny Grabber
2 semanas hace
Name and Principal Position Year ($) ($) ($) ($) ($)(1) ($)
Bruce Rodgers
2023 $ 825,000 $ - $ 488,345 $ 356,503 $ 24,860 $ 1,694,708
Chairman, CEO and President
2022 $ 750,000 $ - $ - $ - $ 10,571 $ 760,571
Richard Russell
2023 $ 550,000 $ - $ 488,345 $ 356,503 $ 48,467 $ 1,443,315
Chief Financial Officer
2022 $ 500,000 $ - $ - $ - $ 32,559 $ 532,559
Ryan Duran 2023
$ 192,500 $ - $ 122,086 $ 89,126 $ 40,217 $ 443,929
Vice President of Operations
2022 $ 175,000 $ 75,000 $ - $ - $ 32,559 $ 282,559
(1) These amounts consist of health insurance premiums, dental & vision insurance premiums paid by the Company in excess of non-executive contribution and 401K Company match.
Penny Grabber
3 semanas hace
New shares structure roughly 6.8M shares.
Company has another 5.1M in cash. Plus the millions on the balance sheet, plus the 15M in bitcoin, the 15MW mining facility, and 6000 s19 and s21 miners.
When they are fully operational in January they should mine about 15 BTC a month. Or about 1.5M usd at current levels, 4.5M a quarter, 18M a year.
Mining costs are roughly half of the value. So 9M. Plus 5M in operations, salaries, etc.
2025 without any change in btc price should be about 4M before interest Depreciation and taxes etc.
About .80/share.
6.5m times 3 dollars a share = 19.5M market cap. Trading at 5x forward earnings (2025).
Penny Grabber
1 mes hace
The registrant had 3,397,042 shares of Common Stock, par value $0.001 per share, outstanding as of November 13, 2024.
Times $2.65/share = $9,002,161 market cap.
I suspect it's now over 4M outstanding. This is based on the approval of the warrant exercising and the additional volume of trading last week.
If all warrants exercise, total shares outstanding will be just over 5M shares.
Penny Grabber
1 mes hace
1 MW Container holds approximately 300 next generation BTC miners. A MW buildout can run 250,000-750,00 depending on equipment and contractors.
Equipped with approximately 300 S19 Pro miners – $2,850,000 - $3,250,000 (assuming $9500/miner, these prices change often)
Monthly managed OPEX cost – $34,560 (300 miners x .05 cents x 3.2kw x 24 hours x 30 days/month)
LMFA has the miners. Now has the 15MW operations (just have to swap out the current partners miners with their own once they vacate) it's safe to assume 3M times 15 = 45M facility which includes the miners.
I repeat.
$45,000,000
All miners paid in full. 15MW facility paid in full in January. The balance due is a fraction of cash and BTC on hand.
This is beyond dirt cheap.
500X the intrinsic value of BTCT. All smoke and mirrors over there. .0001/share inevitable with that one.
Penny Grabber
2 meses hace
On August 16, 2024, LM Funding America, Inc. (the “Company”) and an institutional investor (the “Purchaser”) entered into a securities purchase agreement (the “Securities Purchase Agreement”), pursuant to which the Company agreed to issue to the Purchaser, (i) in a registered direct offering, 278,000 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (“Common Stock”), and pre-funded warrants to purchase 590,185 shares of Common Stock (the “Pre-Funded Warrants”) with an exercise price of $0.0001 per share, and (ii) in a concurrent private placement, Series A warrants to purchase 868,185 shares of Common Stock (the “Series A Common Warrants”) and Series B warrants to purchase 868,185 shares of Common Stock (the “Series B Common Warrants” and together with the Series A Common Warrants, the “Common Warrants”), each with an exercise price of $2.98. Such registered direct offering and concurrent private placement are referred to herein as the “Transactions.” The combined effective offering price for each Share (or pre-funded warrant in lieu thereof) and accompanying Series A Warrant and Series B Warrant in the Transaction was $2.98. The Transactions closed on August 19, 2024.
The Company received aggregate gross proceeds from the Transactions of approximately $2.6 million, before deducting fees to the Placement Agent (as defined below) and other estimated offering expenses payable by the Company. The Company currently plans to use the net proceeds from the Transactions for general corporate purposes, including working capital, development and/or acquisition of hosting sites, and funding the purchase of additional Bitcoin mining machines.
The Company filed a registration statement on Form S-3 (File No. 333-258326) with the Securities and Exchange Commission (the “Commission”) on July 30, 2021, which was deemed effective on August 16, 2021 (the “Registration Statement”). Pursuant to Rule 415(a)(5) under the Securities Act of 1933, as amended (the “Securities Act”), the Company intends to continue to offer and sell the unsold Securities under the Registration Statement until the earlier of (i) the date on which the registration statement filed with the Commission on August 13, 2024, is declared effective by the Commission, and (ii) February 12, 2025, which is 180 days after the third-year anniversary of the effective date of the Registration Statement. The Shares and Pre-Funded Warrants were offered by the Company pursuant to the Registration Statement and that certain prospectus supplement dated August 16, 2024, filed by the Company with the Commission under the Securities Act on August 19, 2024.
The Common Warrants and the shares of Common Stock issuable upon exercise of the Common Warrants (the “Common Warrant Shares”) were issued in a concurrent private placement and have not been registered under the Securities Act, and are instead being offered pursuant to the exemption provided in Section 4(a)(2) under the Securities Act and/or Rule 506(b) promulgated thereunder. The Common Warrants will be exercisable commencing on the effective date of stockholder approval for the issuance of the shares of Common Stock issuable upon exercise of the Common Warrants (the “Stockholder Approval Date”). The Series A Common Warrants will expire on the fifth anniversary of the Stockholder Approval Date and the Series B Common Warrants will expire on the second anniversary of the Stockholder Approval Date. The Pre-Funded Warrants will not expire and will be exercisable commencing on the date of issuance and at any time until all of the Pre-Funded Warrants are exercised in full. If, at the time of exercise a registration statement registering the issuance of the shares of Common Stock underlying the Common Warrants under the Securities Act is not effective or available, the holder may, in its sole discretion, elect to exercise the Common Warrants through a cashless exercise, in which the holder would receive upon such exercise the net number of shares of Common Stock determined according to the formula set forth in the Common Warrants. Further, if the Company sells, enters into an agreement to sell, or grants any option to purchase, or sells or grants any right to reprice, or otherwise disposes of any shares of Common Stock or Common Stock equivalents, at an effective price per share less than the exercise price then in effect, then the exercise price of the Common Warrants will be reduced to such price.
Penny Grabber
3 meses hace
1 MW Container holds approximately 300 next generation BTC miners – $150,000 usd. Equipped with approximately 300 S19 Pro miners – $2,850,000 (assuming $9500/miner, these prices change often) Monthly managed OPEX cost – $34,560 per MW container.
15 MW plant with 4500 miners start up cost is $42.5M. Plus 8.5M in BTC on hand.
Functional 15 MW plant operating 4500 S19 miners plus bitcoin on hand, fair value about $50M.
Market cap $7M
10X inevitable.
Penny Grabber
5 meses hace
Interesting quarter.
Based on an average btc price of 67,500 for the period, even though btc mining was reduced due to the halving and moving mining perations...still reached 3M in revenue for the quarter. Revaluing btc holdings as additional income, btc had an average price of roughly +14,000 higher than last quarter. Times 160. Another 2.2M
Q3 should come in around 5.2-5.5M
Operating costs last quarter were about 4.3M
Estimated earnings for the quarter 1M
Added to last quarters 1.9M for the first 6 months of the year they have a GAAP profit of roughly 3M in 6 months. Market cap is less than 10M. Which is less than the amount of btc held in treasury.
Valuation does not take I to account the partnership of the new 15MW plant. The 5000+ miners that, according to online reports, thebs19s they have still operate at a profit when btc is above 54,000/coin.
The stock price is really limiting growth for thus company. Management is looking for a loan to acquire additional miners because at current levels, raising 5M would dilute ownership 50%.
When they raised 35-40M in 2021 they had nothing going on. Zero bitcoin. Zero miners. Some interest in Borqs (that went defunct). And a SPAC in the works but not yet allocated to. Company to bring public. However, valuation was nearly 100M at one point. 10x current levels.
They keep pointing out their company is worth $15-$16 a share book value. Announcing a share buy back and allocating a couple million to buying back shares would go a long way with this micro cap.
Microstrategy borrows 100s of millions to buy btc, why can't LMFA borrow or use some treasury to buy back it's own stock?
At least they could shoot for an offering down the road to expand. They just don't have any interest in the company from investors.
So they continue to chug along...printing money...paying themselves...with the miners investors funded 3 years ago...who are down 95%
Can they turn it around? Can they be trusted?
Time will tell.
Cheers.
Penny Grabber
6 meses hace
This is interesting after reading about it.
1.5M loan given to a company in live stock and furs at a good APR
2.5M loan given to a company to build out a btc hosting center.
4.5M in revenue last Q at 53k a btc. After halving Q2 maybe 58 btc minted. Still around 4M at 68k a coin average. Two new loans say 12% on 4M. Another 40k a month in interest income. Starting June....3000 miners operating at cost at 15mw plant, loan secured with company assets...
Balance sheet appears to have 2M in liabilities. Nearly 40M in assets. Consisting of btc (11M) btc miners (20M after depreciation), AR in notes to the above mentioned companies, and Misc.
Through their SPAC they took ICU public...and looks like they own nearly 6 million warrants still and about 3% of the company in common shares. ICU has moved from $2s to nearly $8 this week. Warrants moving much much higher as well...
Furthermore, it appears the CFO and CEO purchased options at $30 a share here. They spent maybe 100k usd each on those rights.
Lastly, the RS and recent run in stock price has it at or above $5. Making it available for more funds and traders...
They plan on closing on a 15mw plant by month end. Sights on a 60mw plant. Each mw is about 275,000 usd to bring online. So maybe 12M usd is needed for 60mw. Maybe new s21 miners to occupy it. Their offering in 2021/2022 was around 35M. They eventually got delivered and running about 6k miners. 3k of those are going to the 15mw plant in July. What would go in the 60mw? Hosting? Own miners? Unclear.
Own miners they would need another 20M for purchasing them and working capital. With the new plant, 30-40M capital raise minimum to expand btc operations. With a 12M market cap? Doesn't sound possible. Unless shares rise to the 30 range for a 70M cap. Then it's more than reasonable.
Seems to be alot of meat on this bone. Unfortunately the street isn't convinced on the management, excessive operating costs primarily salaries and SGA, may have a sour taste in its mouth from the last raise, the -90% return, and enriching themselves on the execution of the plan vs rewarding shareholders that provided the funding.
Maybe they'll look to increase shareholder value this time. They have been living very well since the miners went online...but will they take it to the next level? History has said they do not...but it may be time.
I suspect a capital raise this year after a stock run up.
Management has to show some returns to investors to be rewarded with another hefty raise. Maybe they redeem themselves this year..
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