LM Funding America Inc
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Financials : Diversified Financial Services | Small Cap Blend
Company profile

LM Funding America, Inc. is a specialty finance company. The Company provides funding to nonprofit community associations primarily located in the state of Florida and to nonprofit community associations in the states of Washington and Colorado. It offers incorporated nonprofit community associations (Associations), a range of financial products customized to each Association's financial needs. Its products include Original Product and New Neighbor Guaranty. Its Original Product offering consists of providing funding to Associations by purchasing their rights under delinquent accounts that are selected by the Associations arising from unpaid Association assessments. The Company offers the New Neighbor Guaranty, wherein an Association assigns its indebtedness and accruals on its delinquent units to it in exchange for payments in an amount equal to the regular ongoing monthly or quarterly assessments for delinquent units when those amounts would be due to the Association.


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Nikola shares fall as short seller Hindenburg says company has made 'tacit admission' of securities fraud

8:49 am ET September 15, 2020 (MarketWatch)

Shares of electric-truck maker Nikola Corp. (NKLA) fell 6% in premarket trade Tuesday, after a report that the Securities and Exchange Commission is looking into allegations made last week by short seller Hindenburg Research, which called the company an "intricate fraud." (https://hindenburgresearch.com/nikola/) Nikola responded to some of the allegations (http://www.marketwatch.com/story/nikola-fires-off-a-detail-rebuttal-saying-hindenburg-short-seller-report-was-false-and-misleading-2020-09-14) made in Hindenburg's long report on the company on Monday, before Hindenburg responded by saying the response was a "tacit admission of securities fraud." Nikola only answered 10 of 53 questions the short seller posed in its report, Hindenburg said Tuesday (https://hindenburgresearch.com/nikola-response/). "Of those 10 responses, the company debunked nothing. Instead it either confirmed or sidestepped virtually everything we wrote about, and in some cases raised new unanswered questions," it said. Nikola "admitted that its deceptive "Nikola One in Motion" video was, in fact, video of the semi-truck simply rolling down a hill." Nikola said the original Hindenburg report was "false and misleading."Bloomberg reported (https://www.bloomberg.com/news/articles/2020-09-14/sec-said-to-examine-nikola-over-short-seller-s-fraud-allegations?srnd=premium&sref=Oeyjq8by) on Monday that the SEC is reviewing the short sellers' claims. Nikola did not immediately respond to a request for comment. Nikola shares have gained 247% in the year to date.

-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

September 15, 2020 08:49 ET (12:49 GMT)

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