$SPFX

STANDARD PREMIUM FINANCE HOLDINGS, INC.

CIK:0001807893|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
REVENUES
TOTAL REVENUES	$ 3,461,598	$ 3,115,824	$ 6,777,966	$ 6,011,956
OPERATING COSTS AND EXPENSES
Interest	1,112,663	1,029,611	2,119,746	1,968,566
Salaries and wages	588,497	530,930	1,127,446	1,031,548
Commissions	553,912	432,039	963,167	845,581
Provision for credit losses	307,079	390,751	704,414	630,266
Professional fees	112,943	56,463	241,722	119,552
Postage	34,253	31,109	60,697	60,990
Insurance	56,333	43,319	104,594	103,361
Other operating expenses	204,136	256,134	401,879	468,591
TOTAL COSTS AND EXPENSES	2,969,816	2,770,356	5,723,665	5,228,455
INCOME BEFORE INCOME TAXES	491,782	345,468	1,054,301	783,501
PROVISION FOR INCOME TAXES	116,132	87,381	270,584	189,585
NET INCOME	375,650	258,087	783,717	593,916
PREFERRED SHARE DIVIDENDS	(29,050)	(29,050)	(58,100)	(58,100)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ 346,600	$ 229,037	$ 725,617	$ 535,816
Net income per share attributable to common stockholders
Basic	$ 0.12	$ 0.08	$ 0.24	$ 0.18
Diluted	$ 0.10	$ 0.06	$ 0.20	$ 0.14
Weighted average common shares outstanding
Basic	2,930,764	3,001,216	2,964,594	3,001,216
Diluted	3,919,741	4,217,159	4,009,148	4,210,875
Finance charges [Member]
REVENUES
TOTAL REVENUES	$ 3,059,515	$ 2,756,924	$ 5,979,786	$ 5,287,179
Late charges [Member]
REVENUES
TOTAL REVENUES	307,817	258,218	602,058	533,725
Origination fees [Member]
REVENUES
TOTAL REVENUES	$ 94,266	$ 100,682	$ 196,122	$ 191,052

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOW FROM OPERATING ACTIVITIES:
NET INCOME	$ 783,717	$ 593,916
ADJUSTMENTS TO RECONCILE NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES:
Depreciation	17,207	19,591
Amortization of right to use asset - operating lease	49,407	57,466
Amortization of finance lease asset	6,628	6,628
Provision for credit losses	704,414	630,266
Amortization of loan origination fees	62,168	788
Stock compensation	2,000	4,325
Changes in operating assets and liabilities:
(Increase)/Decrease in prepaid expenses and other current assets	(1,297,898)	53,155
(Increase)/Decrease in deferred tax asset, net	(76,000)	(36,000)
Increase/(Decrease) in drafts payable	1,644,004	2,412,207
Increase/(Decrease) in accrued expenses and other current liabilities	388,838	116,971
Increase/(Decrease) in operating lease liability	(49,407)	(57,466)
Net cash provided by operating activities	2,235,078	3,801,847
CASH FLOWS FROM INVESTING ACTIVITIES:
Disbursements under premium finance contracts receivable, net	(14,392,525)	(6,834,851)
Payments made on cash surrender value of life insurance	(19,381)	(17,121)
Purchases of property and equipment	(26,122)	(887)
Net cash used in investing activities	(14,438,028)	(6,852,859)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash overdraft	(248,113)	(328,421)
Proceeds from line of credit	12,539,764	3,192,618
Proceeds from loan on cash surrender value of life insurance	2,933	3,888
Proceeds from notes payable	292,500	429,006
Repayment of notes payable	(137,000)	(188,000)
Proceeds from notes payable - stockholders and related parties	60,000	65,000
Repayments of notes payable - stockholders and related parties	(60,000)
Repayment of finance lease obligation	(7,215)	(6,847)
Repurchase of common stock	(171,001)
Repayment of other loans		(45,705)
Treasury stock	(1,100)
Dividends paid on Series A Convertible Preferred Stock	(58,100)	(58,100)
Net cash provided by financing activities	12,212,668	3,063,439
NET CHANGE IN CASH	9,718	12,427
CASH AT THE BEGINNING OF THE PERIOD	10,970	1,716
CASH AT THE END OF THE PERIOD	20,688	14,143
Cash paid during the period for:
Income taxes	246,126	216,133
Interest paid	$ 2,098,980	$ 1,961,036

Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS
Cash	$ 20,688	$ 10,970
Premium finance contracts and related receivable, net of allowance for credit losses of $2,514,737 and $2,202,768 at June 30, 2026 and December 31, 2025, respectively	86,525,494	72,837,383
Prepaid expenses and other current assets	1,645,803	347,905
TOTAL CURRENT ASSETS	88,191,985	73,196,258
Property and equipment, net	124,509	115,594
Operating lease assets	102,416	151,823
Finance lease assets	5,524	12,152
OTHER ASSETS
Cash surrender value of life insurance	785,511	766,130
Deferred tax asset	651,000	575,000
TOTAL OTHER ASSETS	1,436,511	1,341,130
TOTAL ASSETS	89,860,945	74,816,957
CURRENT LIABILITIES
Cash overdraft	249,056	497,169
Line of credit, net	61,835,009	49,233,077
Drafts payable	3,718,870	2,074,866
Note payable - current portion	1,806,180	2,524,799
Note payable - stockholders and related parties - current portion		1,185,000
Operating lease obligation - current portion	75,048	107,326
Finance lease obligation - current portion	6,303	13,518
Accrued expenses and other current liabilities	2,825,270	2,436,432
TOTAL CURRENT LIABILITIES	70,515,736	58,072,187
LONG-TERM LIABILITIES
Note payable, net of current portion	7,176,245	6,302,126
Note payable - stockholders and related parties, net of current portion	2,628,500	1,443,500
Life insurance policy loan	497,361	494,428
Operating lease obligation, net of current portion	27,368	44,497
TOTAL LONG-TERM LIABILITIES	10,329,474	8,284,551
TOTAL LIABILITIES	80,845,210	66,356,738
STOCKHOLDERS' EQUITY:
Preferred stock, par value $0.001 per share; 20 million shares authorized, 600,000 shares designated as Series A - convertible, 166,000 issued and outstanding at June 30, 2026 and December 31, 2025	166	166
Common stock, par value $0.001 per share; 100 million shares authorized,2,930,726 and 3,001,216 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	2,931	3,001
Additional paid in capital	3,514,470	3,513,577
Retained earnings	5,498,168	4,943,475
TOTAL STOCKHOLDERS' EQUITY	9,015,735	8,460,219
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 89,860,945	$ 74,816,957