Lm Fdg Amer Inc Stock Price, News & Analysis

LM Funding America (LMFA) reported a working capital of $21.2 million and stockholders’ equity of $65.2 million as of June 30, 2022. The company has placed 2,690 Bitcoin miners and aims for over 5,000 miners operational by Q4 2022, resulting in a capacity of 504 petahash. Net income for Q2 2022 was $2.8 million, down from $11.1 million year-over-year, primarily due to a strategic shift to Bitcoin mining. The company recorded an unrealized gain on securities of $12.2 million related to its SPAC interest. A conference call to discuss these results is scheduled for today.

LM Funding America (NASDAQ:LMFA) announced a conference call scheduled for August 17, 2022, at 11:00 a.m. ET to discuss its Q2 2022 financial results ending June 30, 2022, and provide a business update. The company, which focuses on funding nonprofit community associations and is expanding into cryptocurrency mining, aims to highlight its strategic initiatives. Investors can access the call via telephone or through a live webcast, with replays available through August 31, 2022.

LM Funding America, Inc. (NASDAQ: LMFA) announced a new 60-month hosting agreement with a multi-state data hosting company for 4,200 S19J Pro Antminer Machines, which will yield approximately 504 petahash. This could generate around 764 Bitcoins annually starting Q4 2022. CEO Bruce M. Rodgers highlighted resolved supply chain issues and plans to acquire miners at favorable prices due to market disruptions. All mining operations are expected to commence in Q3 2022.

LM Funding America, Inc. (Nasdaq: LMFA) has announced that CEO Bruce M. Rodgers will present at the Digital Assets: Exploring The Metaverse & Crypto Assets Conference on June 23, 2022, at 10:00 a.m. EDT. The conference, hosted by M-Vest and Maxim Group LLC, will address topics including the impacts of rising rates on Bitcoin and NFTs, emerging regulations, and market opportunities. The event will feature virtual panels with industry leaders and is accessible through M-Vest membership. For details, visit their official page.

LM Funding America, Inc. (NASDAQ: LMFA) reported financial results for Q1 2022, revealing a net loss of $5.7 million, contrasting with a net income of $4.4 million in Q1 2021. Revenues rose to $191,000 from $177,000 year-over-year. As of March 31, 2022, cash holdings totaled $24.5 million, with significant investments in cryptocurrency mining. The company expects to receive monthly shipments of 841 mining machines from Bitmain starting June 2022, anticipating its first Bitcoin generation by Q3 2022.

LM Funding America, Inc. (NASDAQ: LMFA) announced its full-year financial results for 2021, highlighting significant steps toward Bitcoin mining and improved capitalization. The company generated $31.5 million from an equity offering to fund its digital asset expansion, including 5,046 ASIC mining machines ordered from Bitmain. Operating revenues decreased to $0.9 million from $1.26 million in 2020, while operating loss rose to $8.4 million. However, net income from continuing operations improved to $5.0 million, up from a loss of $4.1 million in the prior year.

LM Funding America, Inc. (NASDAQ:LMFA) has announced that its Chairman and CEO, Bruce Rodgers, will present at the Blockchain Conference: Trends in the World of NFTs and Crypto, organized by Maxim Group LLC on January 27, 2022, at 10:30 a.m. EST.

His presentation will be part of the 'Crypto Mining' panel, discussing the effects of supply chain shortages and China's cryptocurrency ban on mining. The conference will also cover NFT market opportunities. To attend, individuals can sign up as M-Vest members.

LM Funding America announced the adjournment of its Annual Meeting of Stockholders, originally scheduled for December 10, 2021, due to a lack of quorum. Only 37.5% of the shares were represented, necessitating the meeting to be rescheduled for December 23, 2021. The Company is actively soliciting votes from stockholders to ensure a quorum for the proposals in the Proxy Statement. Stockholders of record must vote by December 22, 2021. If quorum is not reached again, further adjournments may incur additional costs.

LM Funding America (NASDAQ: LMFA) announced the closing of its public offering, raising approximately $30 million through the sale of 6,315,780 shares of common stock and accompanying warrants priced at $4.75 each. The company plans to utilize these funds primarily to purchase cryptocurrency mining equipment and support its operations in this new venture, alongside general corporate purposes. Additionally, an option for underwriters to buy up to 947,367 more shares and warrants was exercised. The company's registration statement for this offering was previously filed with the SEC.