Penny Grabber
7月前
At the current price of btc at 85k and their cost to mine 1 btc at 66k - profit is only 19k per coin.
They mined 17.6 btc all quarter, meaning the net was $334,000.
Payroll, professional fees, and separate selling and administrative costs during the same period was over $4,000,000 😆
What a total disaster. Management is literally taking money from the street, using it all to fill their pockets since they are only generating 8.3% of their pay grade with their main operation.
These guys pay themselves and their buddies 4M every 90 days to make 334k.
Train wreck!
Penny Grabber
10月前
"Building on our BTC treasury" does not mean they are plowing $23M just raised into BTC.
Far from it.
An educated guess - half of that 23M will be used to pay off any balance of the purchase price of the new 11MW mining site and current payables since they were broke before the offering. Next, they need miners. They sold their S21s to raise cash this year...300 for 1M I believe, and dumped some older machines for pennies on the dollar.
The rest, about 5500 mainly S19s, and energized producing 5.5 BTC a month at the 15MW plant.
They purchased 300 S21s for about 1.1M and sold em. So let's say every 300 miners is 1M. 11MW will need about 3600 miners to optimize the site. Not interested in figuring out the exact math so this is just a rough estimate.
3600 miners is 12M. Plus the buildout and getting them operational. If 5500 is producing 5.5-6 BTC a month, 3600 would probably produce 4 or so a month.
Meaning their production will be 10 BTC a month, about 1.16M a month, or 3.5M a quarter at current prices.
Taking out btc appreciation, they lost 3.5M on paper - granted they depreciate as much as possible their miners and assets quarterly.
12M+ in the site, plus the buildout, plus the purchase of miners, for +12 BTC a quarter. That generates an additional 1.5M a quarter. Before energy costs. So let's say it costs 55-60k a btc to mine. 50% margin. +750k a quarter to offset the 3.5M
Still 2.75M short before adding "back in" depreciation.
The rest of the 23M will cover the shortfall every month, instead of liquidating BTC like they have been all 2025.
Sounds like they will stop selling BTC and keep what they mine. Add to the BTC treasury in that way, but blow through the remaining 23M with losses in operations and paying mega salaries.
Keep an eye on those big bonuses at year end..
They need at LEAST another 3 sites like this to break even as a whole.
Still many years and many dilutions away.
The stock only rises every year or so to dilute. Has since inception. Down 99.99% all time.
Bearish!
Penny Grabber
11月前
Registered for resale under this prospectus underlie common stock purchase warrants (the “Common Warrants”) to purchase up to an aggregate of 3,472,740 shares of our common stock, each at an exercise price of $2.95 per share. The Common Warrants were issued to the Selling Securityholder in a private placement pursuant to the terms of that certain warrant exercise agreement, dated December 8, 2024, that we entered into with the Selling Securityholder (the “Warrant Exercise Agreement”), pursuant to which we agreed to issue to the Selling Securityholder the Common Warrants as consideration for the exercise by the Selling Securityholder of certain outstanding warrants to purchase an aggregate of 1,736,370 shares of common stock originally issued to the investor on August 19, 2024, having an original exercise price of $2.98 per share (the “Existing Warrants”). The Common Warrants are immediately exercisable and will expire five years from the date of issuance
Penny Grabber
11月前
Interesting facts:
A qoute regarding the LMFA sponsored SPAC in recent years:
Bruce M. Rodgers, Chairman and CEO of LM Funding, the sponsor of LMF Acquisition Opportunities, commented, “We are proud that all of our hard work over the past several years has led us to this very significant milestone. We are extremely pleased that the transaction received the overwhelming support of the stockholders of LMF Acquisition and believe it will unlock significant value for the stockholders of LM Funding and SeaStar Medical.
Significant value for shareholders?
SeaStar medical debuted split adjusted at over $250 a share 3 years ago and hit a high of $550/share 10/2022. Less than 3 years later it trades at 55 cents. A return of -99.72% for investors.
LMFA debuted split adjusted over $2,500 a share. Now trades at $2. A return of -99.92% for investors.
Reverse splits followed by offerings:
10/2018 1:10 split
11/2018 $6,000,000 offering and dilution
5/2021 1:5 split
10/2021 $30,000,000 offering and dilution
3/2024 1:6 split
8/2024 $2,600,000 offering and dilution
12/2024 $5,100,000 offering and dilution
Its a pattern:
Run the stock price into the ground, RS, follow with dilution and wiping out all shareholders previously - repeat.
Other companies management are affiliated with in some sort of way.
TDNT, now defunct .0001 a share. A -100% return for investors.
GIPR, moved from OTC to Nasdaq. Debuted at over $10/share. Within 4 years now trades at $1.40. A return of - 83.98% for investors.
Similarities:
None of them make/made any $$$ on paper
The stock is run into the ground
Massive dilution over and over
Investors end up with a total loss.
Executives make millions
Its why no one touches this garbage. Its a proven scam.
Penny Grabber
11月前
According to their mining reports in Jan, Feb, and March they mined 24.8 BTC
The expenses related to mining digital assets on their quarterly report was 1.55M
1.55M/24.8 = $62,700 cost to mine a BTC
Since they are not adding to the fleet, and companies around the world are aggressively, its possible that they believe their BTC production will continue to drop due to competition in the mining pools.
April - 6.6 - 120k in energy sales
May - 6.3 - 70k in energy sales
June - 5.5 - 55k in energy sales
WHY IS BITCOIN PRODUCTION AND ENERGY SALES DROPPING EVERY MONTH?
They did 24.8 in Q1, they did 18.4 in Q2. So they have negative growth in bitcoin mining production.
$245,000 in energy sales instead of mining BTC at a cost of 62,700 could of possibly been 4 BTC.
At 116,000/BTC gross margin a bitcoin would have been $53,300 gain per coin.
If your selling energy vs consuming it to mine BTC....doesn't that say you dont think that BTC will be moving higher?
Why take the USD over the BTC??
And why is energy sales AND btc production dropping in April, May, and AGAIN in June?
Looks like they are winding down the bitcoin mining business. Idk why you wouldn't. Its a total failure and going bankrupt. It cant even pay salaries anymore, let alone make any money for investors.
They have to be looking into getting into some other business. Because this is a total disaster.
It trades at 12M market cap because its headed to 0 at this rate.
They have been selling bitcoin all year to cover the losses. It will continue every month.
Another loser company.
Penny Grabber
11月前
Specific Requirements for the Nasdaq Capital Market:
Equity Standard: Requires $5 million in stockholders' equity, $15 million in market value of unrestricted publicly held shares, and a two-year operating history.
Net Income Standard: Requires $4 million in stockholders' equity, $5 million in market value of unrestricted publicly held shares, and $750,000 in net income from continuing operations in the most recent fiscal year or two of the last three fiscal years.
Market Value of Listed Securities Standard: Requires $15 million in market value of listed securities.
As long as they meet the minimum requirements to stay listed, the stock will never appreciate. They cant do a standard offering so they provided nearly 5M in warrants at 2.97 to an "accredited investor" down the road in Tampa. The address of the buyers is a mansion on the Gulf...who now own majority of the company with insiders.
Best shot for investors are all those options management bought dirt cheap for $30 a share. Probably their retirement plan a few years from now...
Until then, as long as they meet the minimum listing requirements BTC could go to $1M and this would still be valued at $10M market cap.
The LMFA insiders are only interested in building wealth for themselves...and nothing else.
ROCKHard
11月前
Clearly it's was a P & D.
My broker who I had shares with wouldn't permit selling until 7AM ET, yet I was never ever told that, So I booked sale orders that got skipped in execution time and again..., thinking something was wrong on my end I cancelled and replaced about 10x...all before 7am..
I phoned the broker and was told the story of nothing can be sold until 7am ET... That's was total abuse and financial hit \to Small Customers at this Large Brokerage.
As for the company LM Funding America, Inc. itself... you've pegged them perfectly. LM is in Florida, Scam Central. The Executives are abusive and just feeding themselves draining that amount of funds quarterly... no profits... in cahoots with their scammy hedge fund/s and investment banking scum.
Penny Grabber
11月前
Registered for resale under this prospectus underlie common stock purchase warrants (the “Common Warrants”) to purchase up to an aggregate of 3,472,740 shares of our common stock, each at an exercise price of $2.95 per share. The Common Warrants were issued to the Selling Securityholder in a private placement pursuant to the terms of that certain warrant exercise agreement, dated December 8, 2024, that we entered into with the Selling Securityholder (the “Warrant Exercise Agreement”), pursuant to which we agreed to issue to the Selling Securityholder the Common Warrants as consideration for the exercise by the Selling Securityholder of certain outstanding warrants to purchase an aggregate of 1,736,370 shares of common stock originally issued to the investor on August 19, 2024, having an original exercise price of $2.98 per share (the “Existing Warrants”). The Common Warrants are immediately exercisable and will expire five years from the date of issuance
Penny Grabber
12月前
On December 8, 2024, LM Funding America, Inc. (the “Company”) entered into a warrant exercise agreement (the “Warrant Exercise Agreement”) with an existing accredited investor (the “Investor”) to exercise certain outstanding warrants to purchase an aggregate of 1,736,370 shares of the Company’s common stock, $0.001 par value per share (the “Common Stock”), originally issued to the Investor on August 19, 2024, having an original exercise price of $2.98 per share (the “Existing Warrants”). The offer and resale of the shares of Common Stock underlying the Existing Warrants was registered pursuant to a registration statement on Form S-3 (File No. 333-282023).
In consideration for the immediate exercise of the Existing Warrants, the exercising holder received new unregistered warrants to purchase up to an aggregate of 3,472,740 shares of the Company’s Common Stock (the “New Warrants”).
This prospectus relates to the offer and resale, from time to time, of up to 3,472,740 shares (the “Shares”) of our common stock, $0.001 par value per share (the “common stock”), by a single institutional investor (the “Selling Securityholder”).
The Shares registered for resale under this prospectus underlie common stock purchase warrants (the “Common Warrants”) to purchase up to an aggregate of 3,472,740 shares of our common stock, each at an exercise price of $2.95 per share. The Common Warrants were issued to the Selling Securityholder in a private placement pursuant to the terms of that certain warrant exercise agreement, dated December 8, 2024, that we entered into with the Selling Securityholder (the “Warrant Exercise Agreement”), pursuant to which we agreed to issue to the Selling Securityholder the Common Warrants as consideration for the exercise by the Selling Securityholder of certain outstanding warrants to purchase an aggregate of 1,736,370 shares of common stock originally issued to the investor on August 19, 2024, having an original exercise price of $2.98 per share (the “Existing Warrants”). The Common Warrants are immediately exercisable and will expire five years from the date of issuance.
We will not receive any proceeds from the sale of the Shares by the Selling Securityholder. In the event the Selling Securityholder exercises all of the Common Warrants in cash at an exercise price of $2.95 per share, we may receive an aggregate of approximately $10.2 million
Meaning:
Outstanding shares will increase 69% when exercised.
Again:
Stock only moves up when they are preparing for dilution. Check the history. When they sold the last warrants at 2.97 1.8M of them it went from 3.30 a share to 1.10 over the next few months.
Penny Grabber
1年前
The PR coming will look something like this:
BTC mined 8
BTC sold 20
Net BTC holdings 136
Total $ in BTC - $14.4M
Will OMIT that $5M in debt is tied to that 14.4M
Will OMIT the 1M cash on hand at the end of Q1 is gone, the net -12 BTC at the end of April for operations is gone, and the $1M cash they have from May liquidations will get them through June until they have to sell another 20 BTC this month to fund operations.
Without dilution and warrant exercise for millions of more shares - LMFA will be down to about 124BTC by 6.30 in which 5,000,000 worth is tied to debt.
A 1:1 ratio btc held to market cap (net collaterized btc for debt) would be about 8M and will continue to drop until dilution occurs.
I wouldn't be surprised to see another RS by year end after millions of shares.
I am unsure if it's 3M shares or 5M shares.
Shares will go from 5M+ to 8-10M. Meaning shares will eventually settle back under a dollar like they have many, many times under this management over the years. Another RS will occur to avoid delisting, and the show goes on.
How much has this ticker lost accumulated? 100s of millions?
It will never change.
💩
Penny Grabber
1年前
They had 148 April 30th, and they had to sell over 18 and only generated 6.6
In March they also sold 14 - because they are out of money.
$5,000,000 of btc is pledged for a loan, so technically, 50 btc are not there's but an investors.
I would suspect they sold another 18-20 during May and produced maybe 8. So let's say a net -10 in May. Meaning they have 138 btc - 50 held as collateral and loaned against, so 88 total.
Gives them a 1:1 ratio for market cap and bitcoin held. They keep saying they have X amount of bitcoin, but always leave out they borrowed millions against those holdings and its being used as collateral.
Bottom line, this company is broke and liquidati g bitcoin at a rapid pace to pay their fat salaries and operating expenses.
With millions in warrants executable at $3, and a planned expansion of 2MW at the operating site to be completed by 9.30 - there will be massive dilution in the $3-$4 range.
Couple million will go to the expansion. The remaining $7M will go to operations and paying their salaries.
This stock tops out under $4 this year. And will be back at the $1 range after the warrant exercise and cash grab is completed.
Not looking good.
When they report May liquidations and mining results next week or so this will drop 30%.
Always does. Because it always disappoints!
💩
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glenn1919
7月前
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