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LM Funding America, Inc. (LMFA)
NasdaqCM - NasdaqCM Real Time Price. Currency in USD
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At close: 04:00PM EDT
1,885 reactions on $LMFA conversation
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I been eyeing this but it steady dumping
I think it’s time for a post. What’s the deal with this thing?
This message board is too active, makes my head spin. 😵💫
From the filing today: 121mil registered shares total:
1.1.1. Purchase of Firm Units. On the basis of the representations and warranties herein contained, but subject to the terms and conditions herein set forth, the Company agrees to issue and sell, severally and not jointly, to the several Underwriters, an aggregate of 7,500,000 units (the “Firm Units”) of the Company at a purchase price (net of discounts and commissions, including the Deferred Underwriting Commission described in Section 1.3 below) of $9.45 per Firm Unit, subject to certain adjustments set forth in Section 1.3 below. The Underwriters, severally and not jointly, agree to purchase from the Company the number of Firm Units set forth opposite their respective names on Schedule A attached hereto and made a part hereof at a purchase price (net of discounts and commissions, including the Deferred Underwriting Commission described in Section 1.3 below) of $9.45 per Firm Unit. The Firm Units (and the Option Units (as hereinafter defined), if any) are to be offered initially to the public (the “Offering”) at the offering price of $10.00 per Firm Unit. Each Firm Unit consists of one share of Class A common stock of the Company, par value $0.0001 (“Class A Common Stock”), and one redeemable warrant (“Warrant(s)”) with each Warrant entitling the holder thereof to purchase one share of Class A Common Stock. The Class A Common Stock and Warrants included in the Firm Units will not be separately transferable until the 52nd Business Day after the Effective Date (as defined below) or the announcement by the Company of the Representative’s decision to allow earlier trading, subject, however, to the Company filing a Current Report on Form 8-K (“Form 8-K”) with the Commission (as defined below) containing an audited balanced sheet reflecting the Company’s receipt of the gross proceeds of the Offering and issuing a press release announcing when such separate trading will begin. In no event will the Company allow separate trading until (i) the preparation of an audited balance sheet of the Company reflecting receipt by the Company of the proceeds of the Offering and the filing of such audited balance sheet with the Commission (as herein defined) on a Form 8-K or similar form by the Company which includes such balance sheet and (ii) the issuance of a press release announcing when such separate trading shall begin. Each Warrant entitles the holder thereof to purchase one share of Class A Common Stock at a price of $11.50 per full share during the period commencing on the later of (a) 30 days after the completion of an initial Business Combination (as defined below), and (b) 12 months from the Closing Date (as defined below), and terminating on the five year anniversary of the closing of the Company’s initial Business Combination.
Answers to some questions about LMFA:
LM Funding America (LMFA) sponsored the recent IPO of LMF Acquisition Opportunities (LMAOU) at $10 per unit. The former is currently trading at about $ $1.80 and the latter is trading about $10.30. LMFA owns 2,587,500 shares of LMAO class B common that converts to Class A common on completion of the first acquisition by LMAO. The shares owned represent approximately 20 % of the current LMAO shares outstanding. Also, LMFA owns warrants to purchase 5,738,000 shares of LMAO class A exercisable at $11.50.
In addition to the above under a separate agreement with Borqs Technologies (BRQS) LMAF is entitled to receive a to be determined amount of BRQS shares at dates to be determined.
Do your own math when estimating the current and potential value of LMAF shares.
Investors have to pay $11.50 for additional allotment sold at $10!!! That shows how much interest there is on LMFA.
AMPA, FL / ACCESSWIRE / January 28, 2021 / LMF Acquisition Opportunities, Inc. (NASDAQ:LMAOU) ("LMF Acquisition Opportunities" or the "Company") today announced the closing of its upsized initial public offering of 10,350,000 units, which included the full exercise of the underwriters' over-allotment option, at a price of $10.00 per unit, resulting in total gross proceeds of $103,500,000. Each unit consisted of one share of Class A common stock and one redeemable warrant, each warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share.
Currently in 4 spacs.. including this one..other 3 have gone up from 11 to 15 and 16$ without identifying the final merging partners...This one will follow the same path..But. currently at a 90% discount..for now !!!
today announced the resignation of Martin Traber from the Board of Directors and the election of Frank Silcox to the Board of Directors to complete Mr. Traber's current term, which expires at the 2022 Annual Meeting of Shareholders. Mr. Traber left the board of LMFA in order to become a director of LMF Acquisition Opportunities, Inc.,
Why invest in LMFA?
1. Inexpensive CRYPTO/SPAC play with very minimal downside:
2. Market Cap - $25M with limited ability to dilute until $75M is achieved (3x)
3. Vey small FLOAT: 5.4M
4. Profitable Q2 - $11M, Profitable Q1 - $4.5M, Profitable Q3 projected (with crypto investments)
5. Cash on hand - $5.49/share (10% more than current share price)
6. Undervalued share price: $4.90 compared to working capital $5.49
7. Only 600k in total short term and long term debt
8. Stock Holder Equity of $37M (40% more than current market cap)
9. Allocated 10% of all assets to crypto in June & July (they have since nearly doubled in value)
10. Sponsored a SPAC LMAO public listing that raised nearly $100,000,000 for a crypto/finance acquisition this past January
11. Currently has $1.17/share or nearly $7M invested in the SPAC & will own 15% when completed
12. Bullish short and long term chart
13. Has been flirting with a massive breakout for a few weeks.
14. Short squeeze target due to low float and shares unavailable to buy
15. FMV of shares are near $20.
Ok so LMFA puts out a press release 3 months ago claiming to have sold almost 600K shares to this company. Well upon further review this company consists of 1 person and is based in the Cayman Islands. The address of the company is actually NJ, but it is registered in the Caymans. Does anyone not see something strange here? Report these guys if you get burned. It is that simple.
LMFA, When you hear Fintech think Apple Pay, cashapp, Venmo, Zelle etc. Think future finance, contactlesS, Crypto. A merge with the right company will send this over 50s 💵 quick
This company is one acquisition away from being a $10+ stock. Give it some time.
Is it true that share price will reach $10? Or is just a hoax? Can someone explain it please?
LMFA : The pause that refreshes at $2. There's more gas in the tank. Higher this week.
I have a few thousand shares in the LOW 2 average. I have been watching this stock for a while. It was being held at the $1.50 level very well. I decided to buy them up in the pre market and was up significantly. However, I decided not to sell because of the L2 data and volume. 11 Million shares traded for 808k public float. Remember - Esousa's shares are outstanding - not part of the float and roughly 70% of the 3.3 existing are held by the institutions.
In my opinion, something is brewing with this company. I reviewed the press from the interesting website. I did my own digging. I researched the company, the CEO, and its affiliates. This CEO is the type of guy who would take absolute pride in having his stock be pumped up to a whole another level. He's a smart crook. And he owns most of the shares. His life is in this company and its well being.
Watch his interviews on youtube, the website.... Proprietary software... TRACK money... THINK my fellow investors.
The most recent "PR" - read carefully - now says that LMFA is a technology - based firm. This was not the case prior to this news article.
Review the 10Q NOV 14 2017 ... All DEBT @ $4,782,719 according to the newest PR is now paid off. CLEANER balance sheet. NO Default risk.
Now let's do something math...
Debt @ that amount was exchanged EARLY for equity (shares) - 2,676,378 - in specific... Now let's think about that...
$4,782,719 / 2,676,378 = $1.787 per share.
Ironic that we closed at that price isn't it?
On top of that... With the new tax code.. company debt has become way more expensive than before..
Now let's look at Esousa Holdings. Goes into Nete... Takes a 9.99% stake... ALSO IN FLORIDA. Miami in specific. A TECHNOLOGY PROVIDER... Stock rockets.
So let's sum it up...
As of January 10 2018 14C SEC FILING -
Esousa Holdings LLC - 2,676,378 (44.78%)
All Executive Officers (9) - 2,491,747 (41.70%) - Includes almost all of the options that have an exercise price OVER $10.00 AFTER the record DATE of DECEMBER 26, 2017. Let that soak in. Think... You really think Rodgers and the team don't want these juicy options with plenty of shares?
Public Float - 808,253 (13.52%)
So that's why I decided to hold my shares. I own a few thousand at the moment. I will buy a few more soon. Going to cap my invest at 6000 shares as this is a penny stock and the risk regardless is there.
However, in my opinion, from the SEC documents, my due diligence, experience, and the recent turn of events, I expect this company to release some monumental news. I expect the price to climb irrationally very quickly, and I will be sure to capitalize on that irrationality.
Get to know the ways LM Funding can help your homeowner's or condo owner's association
Get to know the ways LM Funding can help your homeowner's or condo owner's association
Patience. All other blank check companies trading over $10.
Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell securities in a public primary offering with a value exceeding more than one-third of our public float in any 12-month period so long as our public float remains below $75,000,000. We have not sold any securities pursuant to General Instruction I.B.6 of Form S-3 during the 12 calendar months prior to and including the date of this prospectus.
As of 1/25/21 LMFA owns 70.5% of the sponsoring subsidiary which, after the LMAO IPO, owns 20% of all common shares and 5.7M warrants of LMAO.
20% * 130M current market cap = $26,000,000 * .705 = $18,330,000
This asset is not on the books because they use the equity method of accounting and they are not combined balance sheets.
The convertible note with BORQS was valued at $7.5M at the end of the quarter, in which $1,000,000 was redeemed after the accounting period in early July (adding to cash on hand).
1000 Bitmain Miners: Purchased for $6.3M. These miners based on hash power, kw usage/costs, current bitcoin prices, and mining difficulty - will generate roughly $800,000 in net proceeds per month (before maintenance costs and payroll), or $2.4M a quarter in 2022.
Cash on hand was 22M+ to start the quarter, received another $1M from BORQs, and based on the payment arrangment with Bitmain, the miners are on a payment schedule based on delivery (cash is still in the bank). The working capital combines warrants and convertible notes, already mentioned above.
Based on filings, it appears MAXIM is taking over the next fundraising but the details are unknown. This is probably based on the uncertainty of the stock movement in the market based on upcoming SPAC, Reverse Merger, and Acquisition news. They appear to be getting ready for the event. The direction this is heading it appears they will target a struggling mining company to "buy problems", acquire an up and running data mining facility and simply "add" their new miners to operation, and attempt to become a mining player in the US markets.
Short term target = $15, which places LMFA in a good spot to raise the funds they are looking for with Maxim's help and provides them with the capital they need to tie this all together, purchase additional miners, create their data center, etc.
At $15-$20, market cap will be roughly $80-100M, and with a raise of $28M along the way and dilution, probably looking at about $10-12/share with 7-8M shares outstanding and a market cap of around $70-80M with 50M in cash and probably closing in on 100M in total assets.
Just incase why you guys wonder why it sell off, that because I bought in LOL.... The minute I got in, going down since LOL
The News is out, they just close 103.5 millions offering just now! Tomorrow will be great day!
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