View Filing Data

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	FlexShopper, Inc.
Entity Central Index Key	0001397047
Amendment Flag	false
Document Type	S-1
Entity Filer Category	Smaller Reporting Company
Document Period End Date	Mar. 31, 2015

Consolidated Balance Sheets - USD ($)	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current assets
Cash	$ 10,181,974	$ 2,883,349	$ 960,032
Accounts receivable, net	168,441	128,834	119
Prepaid expenses	177,873	112,074	50,188
Lease merchandise, net	4,032,448	4,241,918	8,004
Assets of discontinued operations		6,500	5,363,728
Total current assets	14,560,736	7,372,675	6,382,071
PROPERTY AND EQUIPMENT, net	1,169,701	1,051,697	58,079
OTHER ASSETS:
Intangible assets - patent costs	25,723	26,492	30,760
Security deposits	55,003	55,003	9,485
Total other assets	80,726	81,495	40,245
Total Assets	15,811,163	8,505,867	6,480,395
Current liabilities:
Accounts payable	989,363	836,792	20,349
Accrued payroll and related taxes	219,828	131,596	68,140
Accrued expenses	204,199	197,584	3,693
Loans payable to shareholder		1,000,000
Liabilities of discontinued operations		7,626	3,331,955
Total current liabilities	1,413,390	2,173,598	3,424,137
Loan payable, net of $1,121,730 of unamortized issuance costs	897,833
Total liabilities	2,311,223	2,173,598
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Preferred Stock, $0.001 par value- authorized 10,000,000 shares, issued and outstanding 342,219 in 2015 and 2014 at $5.00 stated value	1,711,095	1,711,095	1,881,935
Common stock, $0.0001 par value- authorized 65,000,000 shares issued and outstanding 52,015,322 in 2015 and 35,015,322 in 2014	5,202	3,502	2,115
Additional paid in capital	23,073,127	14,513,433	7,337,636
Accumulated deficit	(11,289,484)	(9,895,761)	(6,165,428)
Total stockholders' equity	13,499,940	6,332,269	3,056,258
Total Liabilities and Stockholder's Equity	$ 15,811,163	$ 8,505,867	$ 6,480,395

Consolidated Balance Sheets (Parentheticals) - USD ($)	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 5.00	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000	10,000,000
Preferred stock, shares issued	342,219	342,219	376,387
Preferred stock, shares outstanding	342,219	342,219	376,387
Common stock, par value	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares authorized	65,000,000	65,000,000	65,000,000
Common stock, shares issued	52,015,322	35,015,322	21,148,862
Common stock, shares outstanding	52,015,322	35,015,322	21,148,862
Unamortized issuance costs	$ 1,121,730

Consolidated Statements of Operations - USD ($)	3 Months Ended		12 Months Ended
Consolidated Statements of Operations - USD ($)	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Lease revenues and fees	$ 3,606,325	$ 99,243	$ 4,269,792	$ 119
Lease merchandise sold	165,508	4,678	744,828
Total revenues	3,771,833	103,921	5,014,620	119
Costs and expenses:
Cost of lease revenues, consisting of depreciation and impairment of lease merchandise	2,182,540	48,126	2,731,548	124
Cost of lease merchandise sold	108,522	3,405	599,238
Provision for uncollectible accounts	822,781	9,376	1,380,902
Operating expenses	2,094,276	1,244,389	5,178,383	655,469
Total costs and expenses	5,208,119	1,305,296	9,890,071	655,593
Operating loss	(1,436,286)	(1,201,375)		(655,474)
Interest expense	77,921
Loss from continuing operations, before income tax benefits	(1,514,207)	(1,201,375)	(4,875,451)	(655,474)
Income tax benefit	45,784	96,765	458,047
Loss from continuing operations	(1,468,423)	(1,104,610)	(4,417,404)	(655,474)
Income from discontinued operations, net of income taxes of $45,784 and $96,765	74,700	157,881	687,071	(38,207)
Net loss	$ (1,393,723)	$ (946,729)	$ (3,730,333)	$ (693,681)
Basic and diluted (loss) income per common share:
Loss from continuing operations	$ (0.04)	$ (0.05)	$ (0.15)	$ (0.04)
Income from discontinued operations		0.01	0.02
Net loss	$ (0.04)	$ (0.04)	$ (0.13)	$ (0.04)
Weighted average common shares outstanding:
Basic and diluted	38,604,211	21,148,862	28,244,207	18,987,702

Consolidated Statements of Operations (Parenthetical) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Income Statement [Abstract]
Gain from the sale of discontinued operation	$ 120,484	$ 788,015	$ 788,015
Income Tax Expense (Benefit)	$ (45,784)	$ (96,765)	$ (458,047)

Consolidated Statement of Stockholders' Equity - USD ($)	Total	Preferred Stock	Common Stock	Additional Paid in Capital	Accumulated Deficit
Balance at beginning period at Dec. 31, 2012	$ 2,698,218	$ 671,409	$ 1,863	$ 7,496,693	$ (5,471,747)
Balance at beginning period, shares at Dec. 31, 2012		376,387	18,634,369
Increase (Decrease) in Stockholders Equity [Roll Forward]
Reclassification of preferred stock issuance costs		$ 1,210,526		(1,210,526)
As reclassified	2,698,218	$ 1,881,935	$ 1,863	6,286,167	(5,471,747)
As reclassified, shares		376,387	18,634,369
Provision for compensation expense related to issued stock options	49,805			49,805
Provision for compensation expense related to issued warrants	1,916			1,916
Sale of common stock	1,000,000		$ 252	999,748
Sale of common stock, Shares			2,514,493
Net loss	(693,681)				(693,681)
Balance at Dec. 31, 2013	3,056,258	$ 376,387	$ 2,115	7,337,636	(6,165,428)
Balance, shares at Dec. 31, 2013		1,881,935	21,148,862
Increase (Decrease) in Stockholders Equity [Roll Forward]
Provision for compensation expense related to issued stock options	299,700			299,700
Provision for compensation expense related to issued warrants	139,620			139,620
Exercise of stock options	11,637		$ 3	11,634
Exercise of stock options, shares			33,333
Sale of common stock	4,963,615		$ 1,183	4,962,432
Sale of common stock, Shares			11,820,187
Warrants issued to placement agents	586,872			586,872
Conversion of shareholder loans to common stock	$ 1,000,000		$ 182	999,818
Conversion of shareholder loans to common stock, shares			1,818,182
Conversion of preferred shares to common stock		$ (170,840)	$ 19	170,821
Conversion of preferred shares to common stock, shares		(34,168)	194,758
Accrued interest on shareholder loans contributed to capital	$ 4,900			4,900
Net loss	(3,730,333)				(3,730,333)
Balance at Dec. 31, 2014	6,332,269	$ 1,711,095	$ 3,502	14,513,433	(9,895,761)
Balance, shares at Dec. 31, 2014		342,219	35,015,322
Increase (Decrease) in Stockholders Equity [Roll Forward]
Provision for compensation expense related to issued stock options	13,200			13,200
Sale of common stock	9,350,000		$ 1,700	9,348,300
Sale of common stock, Shares			17,000,000
Costs related to sale of common stock	(801,806)			(801,806)
Costs related to sale of common stock, Shares
Net loss	(1,393,723)				(1,393,723)
Balance at Mar. 31, 2015	$ 13,499,940	$ 1,711,095	$ 52,015,322	$ 23,073,127	$ (11,289,484)
Balance, shares at Mar. 31, 2015		342,219	5,202

Consolidated Statement of Stockholders' Equity (Parenthetical)	12 Months Ended
	Dec. 31, 2014 USD ($)
Statement of Stockholders' Equity [Abstract]
Sale of common stock, net of issuance costs	$ 1,537,489

Consolidated Statements of Cash Flows - USD ($)

3 Months Ended

12 Months Ended

Mar. 31, 2015

Mar. 31, 2014

Dec. 31, 2014

Dec. 31, 2013

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss

$ (1,393,723)

$ (946,729)

$ (3,730,333)

$ (693,681)

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:

(Income) from discontinued operation

(74,700)

(157,881)

(687,071)

38,207

Depreciation and amortization

154,332

14,988

162,210

38,326

Depreciation of lease merchandise

2,234,456

48,126

2,160,467

123

Impairment of lease merchandise

55,000

527,000

Amortization of patent costs

4,268

Compensation expense related to issuance of stock options

13,200

231,000

299,700

49,805

Compensation expense related to issuance of warrants

2,800

139,620

1,916

Provision for uncollectible accounts

822,781

9,376

1,380,902

Other

4,900

Changes in operating assets and liabilities:

(Increase) in accounts receivable

(855,888)

(21,344)

(1,509,617)

(119)

(Increase) in prepaid expenses and other

(65,799)

(71,823)

(61,888)

(50,188)

(Increase) in lease merchandise

(2,079,986)

(692,166)

(6,921,381)

(8,128)

(Increase) in security deposits

(47,768)

(45,518)

(9,485)

Increase in accounts payable

161,793

333,079

816,443

20,349

Increase in accrued payroll and related taxes

88,618

60,425

63,455

68,140

Increase in accrued expenses

7,575

27,693

193,891

3,693

Net cash used in operating activities - continuing operations

(932,341)

(1,210,225)

(7,202,952)

(541,042)

Net cash provided by (used in) operating activities - discontinued operations

56,506

(31,383)

1,175,860

1,740,364

Net cash used in operating activities

(875,835)

(1,241,608)

(6,027,092)

1,199,322

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchases of property and equipment

(222,796)

(39,982)

(1,157,237)

(67,947)

Patent costs

(30,760)

Net cash used in investing activities - continuing operations

(222,796)

(39,982)

(1,157,237)

(98,707)

Net cash used in investing activities- discontinued operations

(14,201)

Proceeds from sale of discontinued operations

4,786,464

Net cash used in investing activities

(222,796)

(39,982)

3,629,227

(112,908)

CASH FLOWS FROM FINANCING ACTIVITIES:

(Repayment) proceeds of loan from shareholder

(1,000,000)

150,000

2,000,000

Proceeds from loan payable, net of $1,170,501 of related costs

849,062

Proceeds from exercise of stock options

11,637

Proceeds from sale of common stock, net of $801,806 of related costs

8,548,194

6,501,104

1,000,000

Payment of costs related to issuance of common stock

(950,617)

Net cash provided by financing activities - continuing operations

8,397,256

150,000

7,562,124

1,000,000

Net cash provided by financing activities - discontinued operations

1,134,386

(3,240,942)

(1,736,821)

Net cash provided by financing activities

8,397,256

1,284,386

4,321,182

(736,821)

INCREASE IN CASH

7,298,625

2,796

1,923,317

349,593

CASH, beginning of period

2,883,349

960,032

610,439

CASH, end of period

10,181,974

962,828

2,883,349

960,032

Supplemental cash flow information:

Interest paid

$ 36,250

81,370

^[1]

369,487

^[1]

Non-cash Financing activities:

Conversion of shareholders loans to common stock

1,000,000

Conversion of preferred stock to common stock

$ 170,840

[1]	Discontinued operations

Basis Of Presentation

3 Months Ended

Mar. 31, 2015

Basis of Presentation [Abstract]

BASIS OF PRESENTATION

1. BASIS OF PRESENTATION

Our interim financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X and in conformity with accounting principles generally accepted in the United States of America (“GAAP”) applicable to interim financial information. Accordingly, the information presented on our interim financial statements does not include all information and disclosures necessary for a fair presentation of our financial position, results of operations and cash flows in conformity with GAAP for annual financial statements. In the opinion of management, these financial statements reflect all adjustments consisting of normal recurring accruals, necessary for a fair statement of our financial position, results of operations and cash flows for such periods. The results of operations for any interim period are not necessarily indicative of the results for the full year. These financial statements should be read in conjunction with the financial statements and notes thereto contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014.

The consolidated balance sheet as of December 31, 2014 contained herein has been derived from audited financial statements.

Business

3 Months Ended

12 Months Ended

Mar. 31, 2015

Dec. 31, 2014

Business [Abstract]

BUSINESS

2. BUSINESS

FlexShopper Inc. (the “Company”) is a corporation organized under the laws of the State of Delaware on August 16, 2006. The Company owns 100% of FlexShopper, LLC (“FlexShopper”), a limited liability company incorporated under the laws of North Carolina on June 24, 2013. Since the sale of the assets of Anchor Funding Services LLC (“Anchor”), which sale was completed in a series of transactions between April and June 2014, the Company is a holding company with no operations except for those conducted by FlexShopper. FlexShopper through its e-commerce markeplace and patent pending payment method, provides certain types of durable goods to consumers on a lease-to-own basis (“LTO”) including consumers of third party retailers and e-tailers.

In January 2015, in connection with the credit agreement entered into in March 2015 (see Note 7) FlexShopper 1 LLC and FlexShopper 2 LLC were organized as wholly owned Delaware subsidiaries of FlexShopper to conduct operations.

During 2013, the Company decided to concentrate its efforts on the operations of FlexShopper and subsequently, an agreement was entered into with a financial institution to sell substantially all of the operating assets of Anchor which provided accounts receivable funding to businesses located throughout the United States. The sale was finalized in June 2014 (see Note 4). The consolidated statements of operations and cash flows reflects the historical operations of Anchor, including the gain on sale, as discontinued operations. The consolidated balance sheet as of December 31, 2014 reflects amounts attributable to Anchor as assets and liabilities of discontinued operations.

1. BUSINESS:

FlexShopper Inc.(the “Company”) is a corporation organized under the laws of the State of Delaware on August 16, 2006. The Company owns 100% of FlexShopper, LLC, a limited liability company incorporated under the laws of North Carolina on June 24, 2013. Since the sale of the assets of Anchor Funding Services LLC (“Anchor”), which sale was completed in a series of transactions between April and June 2014, the Company is a holding corporation with no operations except for those conducted by FlexShopper. FlexShopper provides through e-commerce sites, certain types of durable goods to consumers on a lease-to-own basis (“LTO”) including consumers of third party retailers and e-tailers.

In January 2015, in connection with the credit agreement entered into in March 2015, (See Note 13) FlexShopper 1 LLC and FlexShopper 2 LLC were organized as wholly owned Delaware subsidiaries of FlexShopper to conduct operations.

During 2013, the Company decided to concentrate its efforts on the operations of FlexShopper and subsequently, an agreement was entered into with a financial institution to sell substantially all of the operating assets of Anchor which provided accounts receivable funding to businesses located throughout the United States. The sale was finalized in June 2014 (Note 3). The consolidated statements of operations and cash flows for the years ended December 31, 2014 and 2013 reflect the historical operations of Anchor as discontinued operations. The consolidated balance sheets as of December 31, 2014 and 2013 reflects amounts attributable to Anchor as assets and liabilities of discontinued operations. We have generally presented the notes to our consolidated financial statements on the basis of continuing operations.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1497-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1490-128463

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1392-128463

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7008-128479

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1486-128463

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4845-128472

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1500-128463

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1524-128463

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7000-128479

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4922-128472

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4934-128472

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4926-128472

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1383-128463

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6996-128479

+ Details

Summary of Significant Accounting Policies

3 Months Ended

12 Months Ended

Mar. 31, 2015

Dec. 31, 2014

Summary of Significant Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation - The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries after elimination of intercompany balances and transactions.

Estimates – The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Revenue Recognition - Merchandise is leased to customers pursuant to lease purchase agreements which provide for weekly and bi-weekly lease terms with non-refundable lease payments. Generally the customer has the right to acquire title either through a 90 day same as cash option or through payments of all required lease payments generally 52 weeks, for ownership. Customers have the option to cancel the agreement in accordance with lease terms and return the merchandise. Accordingly, customer agreements are accounted for as operating leases with lease revenues recognized in the month they are due on the accrual basis of accounting. Merchandise sales revenue is recognized when the customer exercises the purchase option and pays the purchase price. Revenue from processing fees earned upon exercise by the customer of the 90 day purchase option is recorded upon recognition of the related merchandise sales. These fees amounted to approximately $30,750 for the three months ended March 31, 2015. Revenue for lease payments received prior to their due date is deferred and recognized as revenue in the period to which the payments relate. Revenues from leases and sales are reported net of sales taxes.

Accounts Receivable and Allowance for Doubtful Accounts – FlexShopper seeks to collect amounts owed under its leases from each customer on a weekly basis by charging their bank account or credit card. Accounts receivable are principally comprised of lease payments currently owed to the Company which are past due as the Company has been unable to successfully collect in the manner described above. An allowance for doubtful accounts is estimated by reserving all accounts in excess of four payments in arrears, adjusted for subsequent collections. FlexShopper is developing historical data to assess the estimate of the allowance in the future. The accounts receivable balances consisted of the following as of March 31, 2015 and December 31, 2014.

	March 31, 2015		December 31, 2014

Accounts receivable	$	2,244,861	$	1,509,736
Allowance for doubtful accounts		2,076,420		1,380,902
Accounts receivable, net	$	168,441	$	128,834

The allowance is a significant percentage of the balance because FlexShopper does not charge off any customer account until it has exhausted all collection efforts with respect to each account including attempts to repossess items. In addition, the same delinquent customers will continue to accrue weekly charges until they are charged off or FlexShopper has exhausted collection efforts. FlexShopper will charge off accounts upon determining that collection is not probable. During the three months ended March 31, 2015, $127,263 of accounts receivable balances were charged off against the allowance.

Lease Merchandise – Until all payment obligations for ownership are satisfied under the lease agreement, the Company maintains ownership of the lease merchandise. Lease merchandise consists primarily of residential furniture, consumer electronics, computers, appliances and household accessories and is recorded at cost net of accumulated depreciation. The Company depreciates leased merchandise using the straight line method over the applicable agreement period for a consumer to acquire ownership, generally twelve months with no salvage value. For lease merchandise returned or anticipated to be returned either voluntarily or through repossession, the Company provides an impairment reserve for the undepreciated balance of the merchandise with a corresponding charge to cost of lease revenue. The impairment charge amounted to $55,000 for the three months ended March 31, 2015. The Company is developing historical charge off information to assess recoverability and estimate of the impairment reserve. The net leased merchandise balances consisted of the following as of March 31, 2015 and December 31, 2014:

	March 31, 2015		December 31, 2014
Lease merchandise at cost	$	8,040,790	$	6,929,509
Accumulated depreciation		3,426,342		2,160,591
Impairment reserve		582,000		527,000
Lease merchandise, net	$	4,032,448	$	4,241,918

Cost of lease merchandise sold represents the undepreciated cost of rental merchandise at the time of sale.

Deferred Debt Issuance Costs – Debt issuance costs incurred in conjunction with the Credit Agreement entered into on March 6, 2015 (see Note 7) are offset against the outstanding balance of the loan payable and are amortized using the straight line method over the remaining term of the credit facility. Amortization for the three months ended of March 31, 2015 was $48,771.

Intangible Assets - Intangible assets consist of a pending patent on the Company’s LTO payment method at check-out for third party e-commerce sites. Patents are stated at cost less accumulated amortization. Patent costs are amortized by using the straight line method over the legal life, or if shorter, the useful life of the patent which has been estimated to be 10 years.

Software Costs - Costs related to developing or obtaining internal-use software incurred during the preliminary project and post-implementation stages of an internal use software project are expensed as incurred and certain costs incurred in the project’s application development stage are capitalized as property and equipment. The Company expenses costs related to the planning and operating stages of a website. Direct costs incurred in the website’s development stage are capitalized as property and equipment. Costs associated with minor enhancements and maintenance for the website are included in expenses as incurred.

Operating Expenses – Operating expenses include all corporate overhead expenses such as salaries, payroll taxes and benefits, stock based compensation, occupancy, advertising and other administrative expenses.

Advertising Costs – The Company charges advertising costs to expense as incurred. Total advertising costs were approximately $548,546 and $35,000 for the three months ended March 31, 2015 and 2014 respectively.

Per Share Data – Per share data is computed by use of the two-class method as a result of outstanding convertible preferred stock which participates in dividends with the common stock and accordingly has participation rights in undistributed earnings as if all such earnings had been distributed during the period (see Note 8). Under such method where the Company has undistributed net income, basic earnings per common share is computed based on the total of any dividends paid per common share plus undistributed income per common share determined by dividing net income reduced by any dividends paid on common and preferred stock by the total of the weighted average number of common shares outstanding plus the weighted average number of common shares issuable upon conversion of outstanding preferred stock during the period. Where the Company has a net loss, basic per share data (including income from continuing operations) is computed based solely on the weighted average number of common shares outstanding during the period. As the convertible preferred stock has no contractual obligation to share in the losses of the Company, common shares issuable upon conversion of the preferred stock are not included in such computations.

Diluted earnings per share is based on the more dilutive of the if-converted method (which assumes conversion of the preferred stock as of the beginning of the period) or the two-class method (which assumes that the preferred stock is not converted) plus the potential impact of dilutive options and warrants. The dilutive effect of stock options and warrants is computed using the treasury stock method, which assumes the repurchase of common shares at the average market price during the period. Under the treasury stock method, options and warrants will have a dilutive effect when the average price of common stock during the period exceeds the exercise price of options or warrants. When there is a loss from continuing operations, potential common shares are not included in the computation of diluted loss per share, since they have an anti-dilutive effect.

In computing diluted loss per share, no effect has been given to the issuance of common stock upon conversion or exercise of the following securities as their effect is anti-dilutive:

	Three months ended
	March 31,
	2015		2014
Convertible preferred stock		2,166,246		1,873,674
Options		3,870,000		3,610,000
Warrants		5,115,531		3,342,504
		11,151,777		8,826,178

Stock Based Compensation - The fair value of transactions in which the Company exchanges its equity instruments for employee services (share-based payment transactions) is recognized as an expense in the financial statements as services are performed.

Compensation expense is determined by reference to the fair value of an award on the date of grant and is amortized on a straight-line basis over the vesting period. We have elected to use the Black-Scholes-Merton pricing model to determine the fair value of all stock option awards. (See Note 9)

Fair Value of Financial Instruments – The carrying value of loans payable under the Credit Agreement (see Note 7) approximate fair value.

Income Taxes – Deferred tax assets and liabilities are determined based on the estimated future tax effects of net operating loss carryforwards and temporary differences between the tax bases of assets and liabilities and their respective financial reporting amounts measured at the current enacted tax rates. The Company records a valuation allowance for its deferred tax assets when management concludes that it is not more likely than not that such assets will be recognized.

The Company recognizes a tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. As of March 31, 2015 and 2014, the Company has not recorded any unrecognized tax benefits.

Interest and penalties related to liabilities for uncertain tax positions will be charged to interest and operating expenses, respectively.

Recent Accounting Pronouncements –

In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. ASU No. 2014-08 changes the definition of a discontinued operation to include only those disposals of components of an entity that represent a strategic shift that has (or will have) a major effect on an entity's operations and financial results. ASU No. 2014-08 is effective prospectively for fiscal years beginning after December 15, 2014 with early adoption permitted. The Company has early adopted this update in the second quarter of 2014.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. This new standard provides guidance for the recognition, measurement and disclosure of revenue resulting from contracts with customers and will supersede virtually all of the current revenue recognition guidance under U.S. GAAP. The standard is effective for the first interim period within annual reporting periods beginning after December 15, 2016. The Company is currently evaluating the impact of the provisions of this new standard on its financial position and results of operations.

In June 2014, FASB issued ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. ASU 2014-12 requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. ASU 2014-12 is effective for annual reporting periods beginning after December 15, 2015, with early adoption permitted. The Company is evaluating the potential impacts of the new standard on its existing stock-based compensation plans.

In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. In connection with preparing financial statements for each annual and interim reporting period, an entity’s management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued. Management’s evaluation should be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued. Substantial doubt about an entity’s ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued. The term probable is used consistently with its use in Topic 450, Contingencies. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter.

In April 2015, the FASB issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This ASU is effective for fiscal years beginning after December 15, 2015 and for interim periods within those fiscal years with early adoption permitted.

During the quarter ended March 31, 2015 the Company early adopted ASU 2015-03 and offset $1,121,730 of unamortized debt issuance costs related to debt issued under the Credit Agreement in March 2015 against the outstanding balance of loans payable under the Credit Agreement in the accompanying balance sheet at March 31, 2015.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation - The accompanying consolidated financial statements include the accounts of the Company. and its wholly owned subsidiaries after elimination of intercompany balances and transactions.

Estimates – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Revenue Recognition - Merchandise is leased to customers pursuant to lease purchase agreements which provide for weekly and bi-weekly lease terms with non-refundable lease payments. Generally the customer has the right to acquire title either through a 90 day same as cash option or through payments of all required lease payments generally 52 weeks, for ownership. Customers have the option to cancel the agreement in accordance with lease terms and return the merchandise. Accordingly, customer agreements are accounted for as operating leases with lease revenues recognized in the month they are due on the accrual basis of accounting. Merchandise sales revenue is recognized when the customer exercises the purchase option and pays the purchase price. Revenue from processing fees earned upon exercise by the customer of the 90 day purchase option is recorded upon recognition of the related merchandise sales. These fees amounted to approximately $38,000 for the year ended December 31, 2014. Revenue for lease payments received prior to their due date is deferred and recognized as revenue in the period to which the payments relate. Revenues from leases and sales are reported net of sales taxes.

Accounts Receivable and Allowance for Doubtful Accounts – FlexShopper seeks to collect amounts owed under its leases from each customer on a weekly basis by charging their bank account or credit card. Accounts receivable are principally comprised of lease payments currently owed to FlexShopper which are past due as FlexShopper has been unable to successfully collect in the manner described above. An allowance for doubtful accounts is estimated by providing an allowance for all accounts in excess of four payments in arrears, adjusted for subsequent collections. FlexShopper is developing historical data to assess the estimate of the allowance in the future. The accounts receivable balances consisted of the following as of December 31, 2014 and 2013.

	December 31, 2014		December 31, 2013

Accounts receivable	$	1,509,736	$	119
Allowance for doubtful accounts		1,380,902		-
Accounts receivable, net	$	128,834	$	119

The allowance is a significant percentage of the balance because FlexShopper has not charged off any customer accounts since inception to assure that it has exhausted all collection efforts with respect to each account including attempts to repossess items. In addition, the same delinquent customers will continue to accrue weekly charges until they are charged off or FlexShopper has exhausted collection efforts. FlexShopper will charge off accounts upon determining that collection is not probable.

Lease Merchandise – Until all payment obligations for ownership are satisfied under the lease agreement, the Company maintains ownership of the lease merchandise. Lease merchandise consists primarily of residential furniture, consumer electronics, computers, appliances and household accessories and is recorded at cost net of accumulated depreciation. The Company depreciates leased merchandise using the straight line method over the applicable agreement period for a consumer to acquire ownership, generally twelve months with no salvage value. For lease merchandise returned or anticipated to be returned either voluntarily or through repossession, the Company provides an impairment reserve for the undepreciated balance of the merchandise with a corresponding charge to cost of lease revenue. The impairment charge amounted to $527,000 for the year ended December 31, 2014. The Company is developing historical charge off information to assess recoverability and estimate of the impairment reserve. The net leased merchandise balances consisted of the following as of December 31, 2014 and 2013:

	December 31, 2014		December 31, 2013

Lease merchandise at cost	$	6,929,509	$	8,128
Accumulated depreciation		2,160,591		124
Impairment reserve		527,000		-
Lease merchandise, net	$	4,241,918	$	8,004

Cost of lease merchandise sold represents the undepreciated cost of rental merchandise at the time of sale.

Intangible Assets – Intangible assets consist of a pending patent on the Company’s LTO payment method at check-out for third party e-commerce sites. Patents are stated at cost less accumulated amortization. Patent costs are amortized by using the straight line method over the legal life, or if shorter, the useful life of the patent which has been estimated to be 10 years. The net patent cost balances consisted of the following as of December 31, 2014 and 2013:

	December 31, 2014		December 31, 2013

Patent costs	$	30,760	$	30,760
Accumulated amortization		4,268		-
Patent costs, net	$	26,492	$	30,760

Advertising Costs – The Company charges advertising costs to expense as incurred. Total advertising costs were approximately $885,000 for the year ended December 31, 2014. Prior year advertising costs are included in discontinued operations.

Per Share Data – Per share data is computed by use of the two-class method as a result of outstanding convertible preferred stock which participates in dividends with the common stock and accordingly has participation rights in undistributed earnings as if all such earnings had been distributed during the period (see Note 6). Under such method where the Company has undistributed net income, basic earnings per common share is computed based on the total of any dividends paid per common share plus undistributed income per common share determined by dividing net income reduced by any dividends paid on common and preferred stock by the total of the weighted average number of common shares outstanding plus the weighted average number of common shares issuable upon conversion of outstanding preferred stock during the period. Where the Company has a net loss, basic per share data (including income from continuing operations) is computed based solely on the weighted average number of common shares outstanding during the period. As the convertible preferred stock has no contractual obligation to share in the losses of the Company, common shares issuable upon conversion of the preferred stock are not included in such computations.

In computing diluted loss per share, no effect has been given to the issuance of common stock upon conversion or exercise of the following securities as their effect is anti-dilutive:

	Twelve months ended
	December 31,
	2014		2013
Convertible preferred stock		1,984,870		1,919,573
Options		3,755,000		2,923,205
Warrants		5,115,531		3,342,504
		10,855,378		8,185,282

Compensation expense is determined by reference to the fair value of an award on the date of grant and is amortized on a straight-line basis over the vesting period. We have elected to use the Black-Scholes-Merton (BSM) pricing model to determine the fair value of all stock option awards. See Note 7.

The Company recognizes a tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. As of December 31, 2014 and 2013, the Company has not recorded any unrecognized tax benefits.

Interest and penalties related to liabilities for uncertain tax positions will be charged to interest and operating expenses, respectively.

Reclassifications – In addition to reclassifications related to discontinued operations referred to in Note 1, certain stockholder equity balances at December 31, 2013 have been reclassified to conform to the current year presentation.

Recent Accounting Pronouncements –

The Financial Accounting Standards Board (‘FASB”) amended the Comprehensive Income topic of the ASC in February 2013 with ASU No. 2013-02. The amendment addresses reporting of amounts reclassified out of accumulated other comprehensive income. Specifically, the amendment does not change the current requirements for reporting net income or other comprehensive income in the financial statements. However, the amendment does require an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, in certain circumstances an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. The guidance became effective for the Company in the first quarter of fiscal year 2014. This amendment did not have any effect on the Company’s financial statements.

In July 2013 the FASB issued ASU 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists,” which among other things, require an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as denoted within the ASU. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The adoption of this standard in 2014 did not have any effect on the Company’s financial statements.

In April 2014, the FASB issued ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. ASU No. 2014-08 changes the definition of a discontinued operation to include only those disposals of components of an entity that represent a strategic shift that has (or will have) a major effect on an entity's operations and financial results. ASU No. 2014-08 is effective prospectively for fiscal years beginning after December 15, 2014 with early adoption permitted. The Company has early adopted this update in the second quarter of 2014.

In August 2014, the FASB issued ASU 2014-15 Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. In connection with preparing financial statements for each annual and interim reporting period, an entity’s management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued. Management’s evaluation should be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued. Substantial doubt about an entity’s ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued. The term probable is used consistently with its use in Topic 450, Contingencies. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter.

Discontinued Operations

3 Months Ended

12 Months Ended

Mar. 31, 2015

Dec. 31, 2014

Discontinued Operations [Abstract]

DISCONTINUED OPERATIONS:

4. DISCONTINUED OPERATIONS

During 2013, the Company decided to concentrate its efforts on the operations of FlexShopper and subsequently on April 30, 2014, Anchor entered into an Asset Purchase and Sale Agreement (the “Purchase Agreement”) with a Bank, pursuant to which Anchor sold to the Bank substantially all of its assets (the “Anchor Assets”), consisting primarily of its factoring portfolio (the “Portfolio Accounts”). The purchase price for the Anchor Assets was equal to (1) approximately $4,445,000 which represented 110% of the total funds outstanding associated with the Portfolio Accounts which resulted in a gain of approximately $445,000 plus (2) an amount equal to 50% of the factoring fee and interest income earned by the Portfolio Accounts during the 12 month period following acquisition (“Earnout Payments”). The Earnout Payments totaled $342,541 for the period ended December 31, 2014 and $120,484 for the three months ended March 31, 2015. The sale of the Anchor Assets was made in a series of closings through June 16, 2014. In connection with each closing, Anchor used the proceeds thereof to pay the Bank all amounts due for factor advances associated with the Portfolio Accounts acquired pursuant to such closing under Anchor’s Rediscount Facility Agreement with the Bank dated November 30, 2011 (the “Rediscount Facility Agreement”). In accordance with the Purchase Agreement, following the final closing thereunder all obligations of Anchor under the Rediscount Facility Agreement (and the associated Validity Warranty) were paid and satisfied in full and the agreement was terminated. In 2014, subsequent to the quarter ended March 31, 2014 Anchor recorded a gain of $788,015 on the sale of these assets including the earnout payments received through December 31, 2014. In the quarter ended March 31, 2015, Anchor recorded a gain of $120,484 for the earnout payments received during such period which is included in income from discontinued operations. Future contingent earnout payments will be recorded as income when earned.

The assets and liabilities of the discontinued operations are presented separately under the captions “Assets of discontinued operations” and “Liabilities of discontinued operations” in the accompanying consolidated Balance Sheet at December 31, 2014 and consist of the following:

	December 31, 2014
Assets of discontinued operations:
Retained interest in purchased accounts receivable	$	6,500
	$	6,500
Liabilities of discontinued operations:
Accounts payable	$	7,626
	$	7,626

Major classes of income and expenses related to income from discontinued operations are as follows:

	Three Months ended March 31, 2014
Finance revenues	$	463,842
Interest expense-financial institution		(70,614	)
Provision for credit losses		(864	)
Net finance revenues		392,364
Operating expenses		(137,718	)
Income from discontinued operations before income taxes	$	254,646	)

3.DISCONTINUED OPERATIONS:

During 2013, the Company decided to concentrate its efforts on the operations of FlexShopper and subsequently on April 30, 2014, Anchor entered into an Asset Purchase and Sale Agreement (the “Purchase Agreement”) with a Bank, pursuant to which Anchor sold to the Bank substantially all of its assets (the “Anchor Assets”), consisting primarily of its factoring portfolio (the “Portfolio Accounts”). The purchase price for the Anchor Assets was equal to (1) approximately $4,445,000 which represented 110% of the total funds outstanding associated with the Portfolio Accounts which resulted in a gain of approximately $445,000 plus (2) an amount equal to 50% of the factoring fee and interest income earned by the Portfolio Accounts during the 12 month period following acquisition (“Earnout Payments”). The Earnout Payments totaled $342,541 for the period ended December 31, 2014. The sale of the Anchor Assets was made in a series of closings through June 16, 2014. In connection with each closing, Anchor used the proceeds thereof to pay the Bank all amounts due for factor advances associated with the Portfolio Accounts acquired pursuant to such closing under Anchor’s Rediscount Facility Agreement with the Bank dated November 30, 2011 (the “Rediscount Facility Agreement”). In accordance with the Purchase Agreement, following the final closing thereunder all obligations of Anchor under the Rediscount Facility Agreement (and the associated Validity Warranty) were paid and satisfied in full and the agreement was terminated. Anchor recorded a gain of $788,015 on the sale of these assets including the earnout payments received through December 31, 2014 which is included in income from discontinued operations. Future contingent earnout payments will be recorded as income when earned.

The assets and liabilities of the discontinued operations are presented separately under the captions “Assets of discontinued operations” and “Liabilities of discontinued operations” in the accompanying consolidated Balance Sheets at December 31, 2014 and December 31, 2013 and consist of the following:

	December 31, 2014		December 31, 2013
Assets of discontinued operations:
Retained interest in purchased accounts receivable	$	6,500	$	4,966,338
Earned but uncollected fees		-		141,077
Due from client		-		256,313
	$	6,500	$	5,363,728

Liabilities of discontinued operations:
Accounts payable	$	-	$	26,966
Accrued expenses		7,626		51,719
Due to financial institution		-		3,240,942
Deferred revenue		-		12,328
	$	7,626	$	3,331,955

Major classes of income and expenses related to income from discontinued operations are as follows:

	Twelve months ended
	December 31, 2014			December 31, 2013

Finance revenues	$	735,357		$	2,364,128
Interest expense and other fees -financial institution		(109,878	)		(385,918	)
Benefit (Provision) for credit losses		24,904			(62,603	)
Net finance revenues		650,383			1,915,607
Operating expenses		(446,733	)		(1,953,814	)
Other income		153,453			-
		357,103			(38,207	)
Gain on sale of discontinued assets		788,015			-
Income (loss) from discontinued operations before income taxes	$	1,145,118		$	(38,207	)

- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760

+ Details

Property and Equipment

3 Months Ended

12 Months Ended

Mar. 31, 2015

Dec. 31, 2014

Property and Equipment [Abstract]

PROPERTY AND EQUIPMENT:

5. PROPERTY AND EQUIPMENT

Property and equipment consist of the following:


	Estimated Useful Lives	March 31, 2015			December 31, 2014
Furniture and fixtures	2-5 years	$	99,982		$	99,982
Website and internal use software	3 years		1,228,710			1,017,103
Computers and software	3-7 years		366,402			355,213
			1,695,094			1,472,298
Less: accumulated depreciation and amortization			(525,393	)		(420,601	)
		$	1,169,701		$	1,051,697

Depreciation and amortization expense was $104,792 and $14,988 for the three months ended March 31, 2015 and 2014, respectively.

4. PROPERTY AND EQUIPMENT:

Property and equipment consist of the following:


	Estimated Useful Lives	December 31, 2014			December 31, 2013
Furniture and fixtures	2-5 years	$	99,982		$	64,945
Website and internal use software	3 years		1,017,103			-
Computers and software	3-7 years		355,213			251,525
			1,472,298			316,470
Less: accumulated depreciation and amortization			(420,601	)		(258,391	)
		$	1,051,697		$	58,079

Depreciation and amortization expense was $162,210 and $38,326 for the years ended December 31, 2014 and 2013, respectively.

Loans Payable Shareholders	3 Months Ended	12 Months Ended
Loans Payable Shareholders	Mar. 31, 2015	Dec. 31, 2014
Loans Payable Shareholders and Loan Payable [Abstract]
LOANS PAYABLE SHAREHOLDERS:	6. LOANS PAYABLE SHAREHOLDERS On March 19, 2014, upon approval of the Board of Directors, FlexShopper entered into two Promissory Notes totaling $1,000,000, one with former CEO Morry Rubin and the other with a major shareholder and Director of the Company. Each demand Promissory Note was for $500,000 and earned interest (payable monthly) at 10% per annum. The Promissory Notes were to assist FlexShopper in purchasing merchandise for lease to support FlexShopper’s growth. In May 2014, these loans were converted into shares of the Company’s Common Stock at a price of $0.55 per share. In connection therewith accrued interest amounting to approximately $4,900 was contributed to capital. On December 8, 2014, upon approval of the Board of Directors, FlexShopper entered into a promissory note for $1,000,000, with a shareholder and executive of the Company. The note is payable on demand. The note was funded in increments of $500,000 on December 8^th and 18^th and earned interest at 15% per annum. The Promissory Note was to assist FlexShopper in purchasing merchandise for lease and was paid in full with interest amounting to $36,250 on March 11, 2015.	5. LOANS PAYABLE SHAREHOLDERS: On March 19, 2014, upon approval of the Board of Directors, FlexShopper entered into two Promissory Notes totaling $1,000,000, one with former CEO Morry Rubin and the other with a major shareholder and Director of the Company. Each demand Promissory Note was for $500,000 and earned interest (payable monthly) at 10% per annum. The Promissory Notes were to assist FlexShopper in purchasing merchandise for lease to support FlexShopper’s growth. In May 2014, these loans were converted into shares of the Company’s Common Stock at a price of $0.55 per share (Note 6). In connection therewith accrued interest amounting to approximately $4,900 was contributed to capital. On December 8, 2014, upon approval of the Board of Directors FlexShopper entered into a promissory note for $1,000,000, with a shareholder and executive of the Company. The note is payable on demand. The note was funded in increments of $500,000 on December 8^th and 18^th and earned interest at 15% per annum which amounted to $7,083. The Promissory Note was to assist FlexShopper in purchasing merchandise for lease and was paid in full with interest on March 11, 2015. ( Note 13)

Loan Payable

3 Months Ended

Mar. 31, 2015

Loans Payable Shareholders and Loan Payable [Abstract]

LOAN PAYABLE

7. LOAN PAYABLE

On March 6, 2015, FlexShopper entered into a credit agreement (the “Credit Agreement”) with a Lender. FlexShopper is permitted to borrow funds under the Credit Agreement based on FlexShopper’s cash on hand and the Amortized Order Value of its Eligible Leases (as such terms are defined in the Credit Agreement) less certain deductions described in the Credit Agreement. Under the terms of the Credit Agreement, subject to the satisfaction of certain conditions, FlexShopper may borrow up to $25,000,000 from the Lender for a term of two years. The borrowing term may be extended for an additional twelve months in the sole discretion of the Lender. The Credit Agreement contemplates that the Lender may provide additional debt financing to FlexShopper, up to $100 million in total, under two uncommitted accordions following satisfaction of certain covenants and other terms and conditions. The Lender will receive security interests in certain leases as collateral under the Credit Agreement. Amounts borrowed will bear interest at the rate of LIBOR plus 15 percent per annum and a small non-usage fee will be assessed on any undrawn amount if the facility is less than 80% drawn on average in any given measurement period commencing three months after closing of the facility. As of March 31, 2015 the amount funded under the agreement was $2,019,563.

Capital Structure

3 Months Ended

12 Months Ended

Mar. 31, 2015

Dec. 31, 2014

Capital Structure [Abstract]

CAPITAL STRUCTURE

8. CAPITAL STRUCTURE

The Company’s capital structure consists of preferred and common stock as described below:

Preferred Stock – The Company is authorized to issue 10,000,000 shares of $.001 par value preferred stock. The Company’s Board of Directors determines the rights and preferences of its preferred stock.

On January 31, 2007, the Company filed a Certificate of Designation with the Secretary of State of Delaware. Effective with this filing, 2,000,000 preferred shares became Series 1 Convertible Preferred Stock. Series 1 Convertible Preferred Stock ranks senior to Common Stock.

As a result of the Company entering into the Credit Agreement (see Note 7) each share of Series 1 Convertible Preferred Stock became convertible into 6.33 shares of the Company’s common stock. The holder of the Series 1 Convertible Preferred Stock has the option to convert the shares to Common Stock at any time. Upon conversion all accumulated and unpaid dividends will be paid as additional shares of Common Stock. The holders of Series 1 Convertible Preferred Stock have the same dividend rights as holders of Common Stock, as if the Series 1 Convertible Preferred Stock had been converted to Common Stock.

During the year ended December 31, 2014, 34,168 preferred shares were converted into 194,758 common shares. As of March 31, 2015 there were 342,219 shares of Series 1 Convertible Preferred Stock outstanding which are convertible into 2,166,246 shares of common stock.

Common Stock – The Company is authorized to issue 65,000,000 shares of $.0001 par value Common Stock. Each share of Common Stock entitles the holder to one vote at all stockholder meetings. Dividends on Common Stock are restricted per terms of the Credit Agreement. (See Note 7)

From May through October 2014, the Company received gross proceeds of $6,501,100 from the sale of 11,820,187 shares offered through three co-placement agents in a private placement offering at an offering price of $.55 per share under Rule 506 and/or Section 4(2) of the Securities Act of 1933 as amended. In connection therewith seven year warrants to purchase 1,773,027 common shares at an exercise price of $.055 per share were issued to placement agents.

In addition, pursuant to the terms of the private placement offering, George Rubin and Morry F. Rubin, officers, directors and founders of the Company, each completed the funding of their $500,000 loan to the Company and converted these loans into shares of the Company’s Common Stock at the same offering price per share as that paid by investors in the offering. An aggregate of 1,818,182 shares of the Company’s Common Stock were issued to the Rubins from the conversion of their notes totaling $1,000,000.

In connection with entering into the Credit Agreement, on March 6, 2015, FlexShopper raised approximately $8.6 million in net proceeds through direct sales of 17.0 million shares of FlexShopper common stock, to certain affiliates of the Lender and other accredited investors for a purchase price of $0.55 per share.

On March 26, 2015, the Board of Directors approved a resolution, subject to stockholder approval and a filing of an amendment to the Company’s Certificate of Incorporation with the Secretary of State of the State of Delaware to increase the number of authorized shares of Common Stock from 65 million shares to 100 million shares. Also, the board approved a 2015 Stock Option Plan identical to the existing 2007 Plan with 4,000,000 shares of its Common Stock that may be issued under the 2015 Plan. The 2015 Plan is subject to approval of an increase in the number of shares of authorized Common Stock described above and stockholder approval within 12 months.

6. CAPITAL STRUCTURE:

The Company’s capital structure consists of preferred and common stock as described below:

Each share of Series 1 Convertible Preferred Stock was convertible into 5.1 shares of the Company’s Common Stock, subject to certain anti-dilution rights. As a result of the Common Stock offering described below and the sale of Common Stock to officers and/or directors, each share of Series 1 Preferred Stock is currently convertible into 5.8 shares of the Company’s Common Stock and has voting rights of 5.877 common shares. The holder of the Series 1 Convertible Preferred Stock has the option to convert the shares to Common Stock at any time. Upon conversion, all accumulated and unpaid dividends were to be paid as additional shares of Common Stock.

The dividend rate on Series 1 Convertible Preferred Stock was 8%. Dividends were paid between 2007 and 2009 annually on December 31st in the form of additional Series 1 Convertible Preferred Stock unless the Board of Directors approved a cash dividend. Dividends on Series 1 Convertible Preferred Stock ceased to accrue on the earlier of December 31, 2009, or on the date they were converted to Common Shares. Thereafter, the holders of Series 1 Convertible Preferred Stock have the same dividend rights as holders of Common Stock, as if the Series 1 Convertible Preferred Stock had been converted to Common Stock.

During the year ended December 31, 2014, 34,168 preferred shares were converted into 194,758 common shares. As of December 31, 2014 there were 342,219 shares of Series 1 Convertible Preferred Stock outstanding which are convertible into 1,984,870 shares of common stock. (See Note 13)

Common Stock – The Company is authorized to issue 65,000,000 shares of $.0001 par value Common Stock. Each share of Common Stock entitles the holder to one vote at all stockholder meetings. Dividends on Common Stock will be determined annually by the Company’s Board of Directors.

During the fourth quarter of 2013, the Company raised $1,000,000 from the sale of its restricted Common Stock at $.40 per share. An aggregate of 2,500,000 shares of Common Stock were sold under Rule 506 and/or Section 4(2) of the Securities Act of 1933 as amended. The Company also issued 14,493 shares to consultants for services rendered.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

Stock Options

3 Months Ended

12 Months Ended

Mar. 31, 2015

Dec. 31, 2014

Stock Options [Abstract]

STOCK OPTIONS

9. STOCK OPTIONS

On January 31, 2007, the Board of Directors adopted our 2007 Omnibus Equity Compensation Plan (the “Plan”), with 2,100,000 common shares authorized for issuance under the Plan. In October 2009, the Company's stockholders approved an increase in the number of shares covered by the Plan to 4,200,000 shares. Grants under the plan may consist of incentive stock options, non-qualified stock options, stock appreciation rights, stock awards, stock unit awards, dividend equivalents and other stock based awards.

Employees, directors and consultants and other service providers are eligible to participate in the Plan. Options granted under the plan vest over periods ranging from immediately upon grant to a three year period and expire ten years from date of grant.

On March 24, 2014, B. Bernstein an officer and director of the Company was granted 10 year options to purchase 250,000 shares of common stock. These options vested on the date of grant.

On July 25, 2014, and October 14, 2014, two new Directors of the Company were each granted 10 year options to purchase 180,000 shares of common stock. These options vest one third annually commencing at the date of grant.

Activity in stock options for the three months ended March 31, 2015 follows:

	Number of shares	Weighted average exercise price		Weighted average contractual term		Aggregate intrinsic value
Outstanding at January 1, 2015	3,755,000	$	0.87		5.30	$	757,650
Granted	115,000	$	0.82		9.96
Outstanding at March 31, 2015	3,870,000	$	0.87		5.19	$	697,133
Vested and exercisable at March 31, 2015	3,314,999	$	0.89		4.56	$	697,133
Vested and exercisable at March 31, 2015 and expected to vest thereafter	3,817,900	$	0.89		5.19	$	697,133

The weighted average grant date fair value of options granted during 2015 was $0.06 per share. The Company measured the fair value of each option award on the date of grant using the Black Scholes option pricing model (BSM) with the following assumptions:

	2015
Exercise price	$0.75 to $0.90
Expected life	6 years
Expected volatility	37%
Dividend yield	0	%
Risk-free interest rate	1.64% to 2.70%

The expected dividend yield is based on the Company’s historical dividend yield. The expected volatility was based on the average of historical volatilities for a period comparable to the expected life of the options of certain entities considered to be similar to the Company. The expected life is based on the simplified expected term calculation permitted by the SEC which defines the expected life as the average of the contractual term of the options and the weighted-average vesting period for all option tranches. The risk-free interest rate is based on the annual yield on the grant date of a zero-coupon U.S. Treasury bond the maturity of which equals the option’s expected life.

The value of stock options is recognized as compensation expense by the straight line method over the vesting period. Compensation expense recorded for options in the statements of operations was $13,200 and $231,000 for the three months ended March 31, 2015 and 2014, respectively. Unrecognized compensation cost related to non-vested options at March 31, 2015 amounted to $220,596 which is expected to be recognized over a weighted average period of 2.4 years.

7. STOCK OPTIONS:

On March 24, 2014, B. Bernstein an officer and director of the Company was granted 10 year options to purchase 250,000 shares of common stock. These options vested on the date of grant.

Activity in stock options for the year ended December 31, 2014 follows:

	Weighted average exercise price		Weighted average contractual term		Aggregate intrinsic value		Number of shares
Outstanding at January 1, 2014	$	0.85		4.05	$	295,553		3,015,000
Granted	$	0.80		9.43				1,121,000
Canceled	$	0.46		7.50				(347,667	)
Exercised	$	0.35		8.45				(33,333	)
Outstanding at December 31, 2014	$	0.87		5.30	$	757,650		3,755,000
Vested and exercisable at December 31, 2014	$	0.89		4.74	$	757,650		3,314,999
Vested and exercisable at December 31, 2014 and expected to vest thereafter	$	0.89		5.30	$	757,650		3,704,400
The intrinsic value of the options exercised during 2014 was $21,666

The weighted average grant date fair value of options granted during 2014 was $0.06 per share. The Company measured the fair value of each option award on the date of grant using the Black Scholes option pricing model (BSM) with the following assumptions:

	2014
Exercise price	$0.75 to $0.90
Expected life	6 years
Expected volatility	37%
Dividend yield	0	%
Risk-free interest rate	1.64% to 2.70%

The value of stock options is recognized as compensation expense by the straight line method over the vesting period. Compensation expense recorded for options in the statements of operations was $299,700 and $49,805 for the years ended December 31, 2014 and 2013, respectively. Unrecognized compensation cost related to non-vested options at December 31, 2014 amounted to $130,400 which is expected to be recognized over a weighted average period of 2.5 years.

Warrants

3 Months Ended

12 Months Ended

Mar. 31, 2015

Dec. 31, 2014

Warrants [Abstract]

WARRANTS:

10. WARRANTS

On January 31, 2014 the expiration date of outstanding warrants issued to one of the Company’s placement agents to purchase 1,342,500 shares of the Company’s common stock at $1.10 per share, due to expire on such date was extended by the Company through January 31, 2018. The following information was input into BSM to compute a fair value price of $.104 for each modified warrant:

Exercise price	$	1.10
Term	4 years
Expected volatility		37%
Dividend yield		0	%
Risk-free interest rate		.09	%

For the three months ended March 31, 2015 and 2014, compensation expense of $0 and $2,800 respectively was recorded related to these warrants.

The following table summarizes information about outstanding stock warrants as of March 31, 2015 all of which are exercisable:

				Weighted Average
Exercise		Number		Remaining
Price		Outstanding		Contractual Life

$	1.10		1,342,500	3 years
	1.00		2,000,004	6 years
$	0.55		1,773,027	7 years
			5,115,531

8. WARRANTS:

On January 31, 2014 the expiration date of outstanding warrants issued to one of the Company’s placement agents to purchase 1,342,500 shares of the Company’s common stock at $1.10 per share, due to expire on January 31, 2014 was extended by the Company through January 31, 2018. The following information was input into BSM to compute a fair value price of $.104 for each modified warrant:

Exercise price	$	1.10
Term	4 years
Expected volatility		37%
Dividend yield		0	%
Risk-free interest rate		.09	%

For the years ended December 31, 2014 and 2013, compensation expense of $139,620 and $1,916 respectively was recorded related to these warrants.

The following table summarizes information about outstanding stock warrants as of December 31, 2014 all of which are exercisable:

				Weighted Average
Exercise		Number		Remaining
Price		Outstanding		Contractual Life

$	1.10		1,342,500	3 years
	1.00		2,000,004	6 years
$	0.55		1,773,027	7 years
			5,115,531

Income Taxes

3 Months Ended

12 Months Ended

Mar. 31, 2015

Dec. 31, 2014

Income Taxes [Abstract]

INCOME TAXES

11. INCOME TAXES

As of December 31, 2014, the Company had federal net operating loss carryforwards of approximately $4.5 million and state net operating loss carryforwards of approximately $3.4 million available to offset future taxable income which expire from 2022 to 2034. The Company’s use of net operating loss carryforwards is subject to limitations imposed by the Internal Revenue Code. Management believes that the deferred tax assets as of March 31, 2015 do not satisfy the realization criteria and has recorded a valuation allowance to offset the tax asset. By recording a valuation allowance for the entire amount of future tax benefits, the Company has not recognized a deferred tax benefit related to its loss from continuing operations other than a benefit related to utilizing such loss to offset income from discontinued operations. A corresponding tax provision was charged to discontinued operations.

9. INCOME TAXES:

For the year ended December 31, 2014, the income tax benefit allocated to continuing operations represents the tax benefit from utilizing the loss from continuing operations to offset income from discontinued operations. A corresponding tax provision was charged to discontinued operations.

Reconciliation of the benefit for income taxes from continuing operations recorded in the consolidated statement of operations with the amounts computed at the statutory federal tax rate of 34% as follows:

	2014			2013

Federal tax benefit at statutory rate	$	(1,657,000	)	$	(235,000	)
State tax benefit, net of federal tax		(61,000	)		(10,000	)
Permanent differences		(38,000	)		5,000
Increase in valuation allowance		1,298,000			240,000
Benefit for income taxes	$	(458,000	)	$	-

Tax affected components of deferred tax assets and deferred tax liabilities at December 31, 2014 and 2013 were as follows:

	2014			2013
Deferred tax assets:
Equity based compensation	$	229,000		$	102,000
Allowance for doubtful accounts		552,000			1,000
Lease merchandise		582,000			-
Net operating loss carry-forwards		1,680,000			1,660,000

Gross deferred tax assets		3,043,000			1,763,000
Valuation allowance		(3,042,000	)		(1,744,000	)
Net deferred tax assets		1,000			19,000
Deferred tax liabilities:
Fixed assets		(1,000	)		(19,000	)
	$	-		$	-

Based on consideration of the available evidence including historical losses a valuation allowance has been recognized to offset deferred tax assets, as management was unable to conclude that realization of deferred tax assets were more likely than not.

As of December 31, 2014, the Company has federal net operating loss carryforwards of approximately $4,547,000 and state net operating loss carryforwards of approximately $3,351,000 available to offset future taxable income which expire from 2022 to 2034.

Section 382 of the Internal Revenue Code imposes a limitation on a corporation's ability to utilize net operating loss carryforwards (“NOLs”) if it experiences an “ownership change.” In general, an ownership change may result from transactions increasing the ownership of certain stockholders in the stock of a corporation by more than 50 percentage points over a three-year period. If such a change were to occur, certain NOLs available to be used could be disallowed and an annual limitation on utilization of other NOLs would occur.

The Company files tax returns in the U.S. federal jurisdiction and various states. At December 31, 2014, federal tax returns remained open for Internal Revenue Service review for tax years after 2010, while state tax returns remain open for review by state taxing authorities for tax years after 2009. There were no federal or state income tax audits being conducted as of December 31, 2014.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies [Abstract]

COMMITMENTS AND CONTINGENCIES

10. COMMITMENTS AND CONTINGENCIES:

Lease Commitments

On August 1, 2013, FlexShopper entered into a 39 month lease of office space providing for monthly rent of approximately $6,800. This lease agreement was amended in January 2014 to reflect a 63 month term for a larger suite in an adjoining building. Upon commencement the monthly base rent for the first year approximated $9,600 with annual three percent increases throughout the lease term.

The rental expense for the years ended December 31, 2014 and 2013 was approximately $163,500 and $58,800, respectively. At December 31, 2014, the future minimum annual lease payments are approximately as follows:

2015	$	118,000
2016		121,500
2017		125,300
2018		129,000
2019		77,000
	$	570,800

Contingencies

On October 22, 2010, Anchor filed a complaint in the Superior Court of Stamford/Norwalk, Connecticut against the Administrators of the Estate of David Harvey (“Harvey”) to recoup a credit loss incurred by the Company’s former subsidiary, Brookridge Funding Services, LLC. Harvey was the owner of a Company that caused the credit loss and the Company is pursuing its rights under the personal guarantee that Harvey provided. The Complaint is demanding principal of approximately $485,000 plus interest and damages. On September 9, 2014, the Company received $124,774 from Harvey as a final settlement, which is included in discontinued operations.

Employment Agreements

12 Months Ended

Dec. 31, 2014

Employment Agreement [Abstract]

EMPLOYMENT AGREEMENTS

11. EMPLOYMENT AGREEMENTS

On January 31, 2007, the Company entered into an employment agreement to retain the services of Brad Bernstein who currently serves as Chief Executive Officer and President. For fiscal 2013 and fiscal 2014, Mr. Bernstein received an annual salary of $240,000.Mr. Bernstein’s employment agreement currently expires on January 31, 2016 and will automatically renew for an additional one year unless either party notifies the other, in writing, at least 60 days prior to the expiration date of the term of such party’s intention not to renew the agreement. In the event Mr. Bernstein's services are terminated due to death or disability, Mr. Bernstein would receive six months’ severance pay. In the event Mr. Bernstein is terminated without cause, Mr. Bernstein would receive 12 months’ severance pay.

Morry F. Rubin, Chairman of the Board and former Chief Executive Officer had also entered into an employment agreement on January 31, 2007. Pursuant to the employment agreement, Mr. Rubin received compensation of $85,307 and $98,538 for 2013 and 2014, respectively. On December 29, 2014, Mr. Rubin resigned as Chief Executive Officer of our Company and agreed to terminate his employment agreement. Mr. Rubin is continuing to serve as Chairman of the Board of the Company and we have agreed to compensate Mr. Rubin by paying 50% of the health insurance premiums for him and his family under our health insurance plan.

Restatements

3 Months Ended

Mar. 31, 2015

Restatement [Abstract]

RESTATEMENT

12. RESTATEMENT

In the fourth quarter of 2014, the Company capitalized $1,017,104 of website and internal use software costs and correspondingly recognized $103,222 of accumulated amortization or a net adjustment of $913,822 of which $627,646 related to amounts expensed in prior quarters of 2014 including $158,529 related to the quarter ended March 31, 2014. In addition, in the quarter ended March 31, 2014, an income tax benefit of $96,765 was allocated to continuing operations with a corresponding tax provision charged to discontinued operations, representing the tax benefit from utilizing the loss from continuing operations to offset revenue from discontinued operations. Such adjustment had no effect on the net loss for the quarter. Net loss and related loss per share of such quarter have been restated as follows:

Net loss:
As previously reported	$	(946,729	)
Adjustment		158,529
As adjusted	$	(788,200	)
Basic and diluted net loss per common share:
As previously reported	$	(0.05	)
Adjustment		0.01
As adjusted	$	(0.04	)

Fourth Quarter Adjustment

12 Months Ended

Dec. 31, 2014

Fourth Quarter Adjustment [Abstract]

FOURTH QUARTER ADJUSTMENT

12. FOURTH QUARTER ADJUSTMENT:

Quarter Ended		Amount
March 31	$	158,529
June 30		233,751
September 30		235,366
	$	627,646

The effects of such adjustments on net loss for the prior quarters follows (unaudited):

	Quarter Ended:
Net loss:	March 31,			June 30,			September 30,
As previously reported	$	(1,201,375	)	$	(1,244,069	)	$	(1,364,623	)
Adjustment		158,529			233,751			235,366
As adjusted	$	(1,042,846	)	$	(1,010,318	)	$	(1,129,257	)
Basic and diluted loss per common share:
As previously reported	$	(0.05	)	$	(0.05	)	$	(0.04	)
Adjustment		0.01			0.01			0.01
As adjusted	$	(0.04	)	$	(0.04	)	$	(0.03	)

Subsequent Events

12 Months Ended

Dec. 31, 2014

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

13. SUBSEQUENT EVENTS:

In connection with entering into the Credit Agreement, on March 6, 2015, FlexShopper raised approximately $8.6 million in net proceeds through direct sales of 17.0 million shares of FlexShopper common stock, (the “Shares”), to certain affiliates of the Lender and other accredited investors (the “Investors”) for a purchase price of $0.55 per share.

As a result of the transactions described in the preceding paragraph, each share of Series 1 Convertible Preferred Stock is now convertible into 6.33 shares of the Company’s common stock or a total of 2,166,246 common shares. as a result of the anti-dilution rights of the Preferred Stock.

On March 26, 2015, our Lender pursuant to its rights under the transaction documents executed on March 6, 2015, nominated as a board member and the board approved effective April 1, 2015 the election of Philip Gitler. On the same date, the board approved a resolution, subject to stockholder approval and a filing of an amendment to the Company’s Certificate of Incorporation with the Secretary of State of the State of Delaware to increase the number of authorized shares of Common Stock from 65 million shares to 100 million shares. Also, the board approved a 2015 Stock Option Plan identical to the existing 2007 Plan with 4,000,000 shares of its Common Stock that may be issued under the Plan. The 2015 Plan is subject to approval of an increase in the number of shares of authorized Common Stock described above and stockholder approval within 12 months.

Summary of Significant Accounting Policies (Policies)

3 Months Ended

12 Months Ended

Mar. 31, 2015

Dec. 31, 2014

Summary of Significant Accounting Policies [Abstract]

Principles of Consolidation

Estimates

Revenue Recognition

Revenue Recognition - Merchandise is leased to customers pursuant to lease purchase agreements which provide for weekly and bi-weekly lease terms with non-refundable lease payments. Generally the customer has the right to acquire title either through a 90 day same as cash option or through payments of all required lease payments generally 52 weeks, for ownership. Customers have the option to cancel the agreement in accordance with lease terms and return the merchandise. Accordingly, customer agreements are accounted for as operating leases with leaserevenues recognized inthemonth they are dueonthe accrual basis of accounting. Merchandise sales revenue is recognized when the customer exercises the purchase option and pays the purchase price. Revenue from processing fees earned upon exercise by the customer of the 90 day purchase option is recorded upon recognition of the related merchandise sales. These fees amounted to approximately $38,000 for the year ended December 31, 2014. Revenue for lease payments received prior to their due date is deferred and recognized as revenue in the period to which the payments relate. Revenues from leases and sales are reported net of sales taxes.

Accounts Receivable and Allowance for Doubtful Accounts

	March 31, 2015		December 31, 2014

Accounts receivable	$	2,244,861	$	1,509,736
Allowance for doubtful accounts		2,076,420		1,380,902
Accounts receivable, net	$	168,441	$	128,834

Accounts Receivable and Allowance for Doubtful Accounts – FlexShopper seeks to collect amounts owed under its leases from each customer on a weekly basis by charging their bank account or credit card. Accounts receivable are principally comprised of lease payments currently owed to FlexShopper which are past due as FlexShopper has been unable to successfully collect in the manner described above. An allowance for doubtful accounts is estimated by providing an allowance for all accounts in excess of four payments in arrears, adjusted for subsequent collections. FlexShopper is developing historical data to assess the estimate of the allowance in the future. The accounts receivable balances consisted of the following as of December 31, 2014 and 2013.

	December 31, 2014		December 31, 2013

Accounts receivable	$	1,509,736	$	119
Allowance for doubtful accounts		1,380,902		-
Accounts receivable, net	$	128,834	$	119

Lease Merchandise

	March 31, 2015		December 31, 2014
Lease merchandise at cost	$	8,040,790	$	6,929,509
Accumulated depreciation		3,426,342		2,160,591
Impairment reserve		582,000		527,000
Lease merchandise, net	$	4,032,448	$	4,241,918

Cost of lease merchandise sold represents the undepreciated cost of rental merchandise at the time of sale.

Lease Merchandise – Until all payment obligations for ownership are satisfied under the lease agreement, the Company maintains ownership of the lease merchandise. Lease merchandise consists primarily of residential furniture, consumer electronics, computers, appliances and household accessories and is recorded at cost net of accumulated depreciation. The Company depreciates leased merchandise using the straight line method over the applicable agreement period for a consumer to acquire ownership, generally twelve months with no salvage value. For lease merchandise returned or anticipated to be returned either voluntarily or through repossession, the Company provides an impairment reserve for the undepreciated balance of the merchandise with a corresponding charge to cost of lease revenue. The impairment charge amounted to $527,000 for the year ended December 31, 2014. The Company is developing historical charge off information to assess recoverability and estimate of the impairment reserve. The net leased merchandise balances consisted of the following as of December 31, 2014 and 2013:

	December 31, 2014		December 31, 2013

Lease merchandise at cost	$	6,929,509	$	8,128
Accumulated depreciation		2,160,591		124
Impairment reserve		527,000		-
Lease merchandise, net	$	4,241,918	$	8,004

Cost of lease merchandise sold represents the undepreciated cost of rental merchandise at the time of sale.

Deferred Debt Issuance Costs

Intangible Assets

	December 31, 2014		December 31, 2013

Patent costs	$	30,760	$	30,760
Accumulated amortization		4,268		-
Patent costs, net	$	26,492	$	30,760

In computing diluted loss per share, no effect has been given to the issuance of common stock upon conversion or exercise of the following securities as their effect is anti-dilutive:

	Three months ended
	March 31,
	2015		2014
Convertible preferred stock		2,166,246		1,873,674
Options		3,870,000		3,610,000
Warrants		5,115,531		3,342,504
		11,151,777		8,826,178

Per Share Data – Per share data is computed by use of the two-class method as a result of outstanding convertible preferred stock which participates in dividends with the common stock and accordingly has participation rights in undistributed earnings as if all such earnings had been distributed during the period (see Note 6). Under such method where the Company has undistributed net income, basic earnings per common share is computed based on the total of any dividends paid per common share plus undistributed income per common share determined by dividing net income reduced by any dividends paid on common and preferred stock by the total of the weighted average number of common shares outstanding plus the weighted average number of common shares issuable upon conversion of outstanding preferred stock during the period. Where the Company has a net loss, basic per share data (including income from continuing operations) is computed based solely on the weighted average number of common shares outstanding during the period. As the convertible preferred stock has no contractual obligation to share in the losses of the Company, common shares issuable upon conversion of the preferred stock are not included in such computations.

In computing diluted loss per share, no effect has been given to the issuance of common stock upon conversion or exercise of the following securities as their effect is anti-dilutive:

	Twelve months ended
	December 31,
	2014		2013
Convertible preferred stock		1,984,870		1,919,573
Options		3,755,000		2,923,205
Warrants		5,115,531		3,342,504
		10,855,378		8,185,282

Stock Based Compensation

Compensation expense is determined by reference to the fair value of an award on the date of grant and is amortized on a straight-line basis over the vesting period. We have elected to use the Black-Scholes-Merton (BSM) pricing model to determine the fair value of all stock option awards. See Note 7.

Fair Value of Financial Instruments

Fair Value of Financial Instruments – The carrying value of loans payable under the Credit Agreement (see Note 7) approximate fair value.

Income Taxes

Interest and penalties related to liabilities for uncertain tax positions will be charged to interest and operating expenses, respectively.

Income Taxes– Deferred tax assets and liabilities are determined based on the estimated future tax effects of net operating loss carryforwards and temporary differences between the tax bases of assets and liabilities and their respective financial reporting amounts measured at the current enacted tax rates. The Company records a valuation allowance for its deferred tax assets when management concludes that it is not more likely than not that such assets will be recognized.

The Company recognizes a tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. As of December 31, 2014 and 2013, the Company has not recorded any unrecognized tax benefits.

Interest and penalties related to liabilities for uncertain tax positions will be charged to interest and operating expenses, respectively.

Reclassifications

Recent Accounting Pronouncements

Recent Accounting Pronouncements –

Summary of Significant Accounting Policies (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2015

Dec. 31, 2014

Summary of Significant Accounting Policies [Abstract]

Schedule of accounts receivable

	March 31, 2015		December 31, 2014

Accounts receivable	$	2,244,861	$	1,509,736
Allowance for doubtful accounts		2,076,420		1,380,902
Accounts receivable, net	$	168,441	$	128,834

	December 31, 2014		December 31, 2013

Accounts receivable	$	1,509,736	$	119
Allowance for doubtful accounts		1,380,902		-
Accounts receivable, net	$	128,834	$	119

Schedule of lease merchandise

	March 31, 2015		December 31, 2014
Lease merchandise at cost	$	8,040,790	$	6,929,509
Accumulated depreciation		3,426,342		2,160,591
Impairment reserve		582,000		527,000
Lease merchandise, net	$	4,032,448	$	4,241,918

	December 31, 2014		December 31, 2013

Lease merchandise at cost	$	6,929,509	$	8,128
Accumulated depreciation		2,160,591		124
Impairment reserve		527,000		-
Lease merchandise, net	$	4,241,918	$	8,004

Schedule of antidilutive securities excluded from computation of earnings per share

	Three months ended
	March 31,
	2015		2014
Convertible preferred stock		2,166,246		1,873,674
Options		3,870,000		3,610,000
Warrants		5,115,531		3,342,504
		11,151,777		8,826,178

	Twelve months ended
	December 31,
	2014		2013
Convertible preferred stock		1,984,870		1,919,573
Options		3,755,000		2,923,205
Warrants		5,115,531		3,342,504
		10,855,378		8,185,282

Schedule of intangible assets

	December 31, 2014		December 31, 2013

Patent costs	$	30,760	$	30,760
Accumulated amortization		4,268		-
Patent costs, net	$	26,492	$	30,760

Discontinued Operations (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2015

Dec. 31, 2014

Discontinued Operations [Abstract]

Schedule of disposal groups, including discontinued operations, income statement, balance sheet and additional disclosures

	December 31, 2014
Assets of discontinued operations:
Retained interest in purchased accounts receivable	$	6,500
	$	6,500
Liabilities of discontinued operations:
Accounts payable	$	7,626
	$	7,626

	December 31, 2014		December 31, 2013
Assets of discontinued operations:
Retained interest in purchased accounts receivable	$	6,500	$	4,966,338
Earned but uncollected fees		-		141,077
Due from client		-		256,313
	$	6,500	$	5,363,728

Liabilities of discontinued operations:
Accounts payable	$	-	$	26,966
Accrued expenses		7,626		51,719
Due to financial institution		-		3,240,942
Deferred revenue		-		12,328
	$	7,626	$	3,331,955

Schedule of disposal groups including discontinued operations income statement

	Three Months ended March 31, 2014
Finance revenues	$	463,842
Interest expense-financial institution		(70,614	)
Provision for credit losses		(864	)
Net finance revenues		392,364
Operating expenses		(137,718	)
Income from discontinued operations before income taxes	$	254,646	)

	Twelve months ended
	December 31, 2014			December 31, 2013

Finance revenues	$	735,357		$	2,364,128
Interest expense and other fees -financial institution		(109,878	)		(385,918	)
Benefit (Provision) for credit losses		24,904			(62,603	)
Net finance revenues		650,383			1,915,607
Operating expenses		(446,733	)		(1,953,814	)
Other income		153,453			-
		357,103			(38,207	)
Gain on sale of discontinued assets		788,015			-
Income (loss) from discontinued operations before income taxes	$	1,145,118		$	(38,207	)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760

+ Details

Property and Equipment (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2015

Dec. 31, 2014

Property and Equipment [Abstract]

Schedule of property and equipment


	Estimated Useful Lives	March 31, 2015			December 31, 2014
Furniture and fixtures	2-5 years	$	99,982		$	99,982
Website and internal use software	3 years		1,228,710			1,017,103
Computers and software	3-7 years		366,402			355,213
			1,695,094			1,472,298
Less: accumulated depreciation and amortization			(525,393	)		(420,601	)
		$	1,169,701		$	1,051,697


	Estimated Useful Lives	December 31, 2014			December 31, 2013
Furniture and fixtures	2-5 years	$	99,982		$	64,945
Website and internal use software	3 years		1,017,103			-
Computers and software	3-7 years		355,213			251,525
			1,472,298			316,470
Less: accumulated depreciation and amortization			(420,601	)		(258,391	)
		$	1,051,697		$	58,079

Stock Options (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2015

Dec. 31, 2014

Stock Options [Abstract]

Schedule of information about stock options

	Number of shares	Weighted average exercise price		Weighted average contractual term		Aggregate intrinsic value
Outstanding at January 1, 2015	3,755,000	$	0.87		5.30	$	757,650
Granted	115,000	$	0.82		9.96
Outstanding at March 31, 2015	3,870,000	$	0.87		5.19	$	697,133
Vested and exercisable at March 31, 2015	3,314,999	$	0.89		4.56	$	697,133
Vested and exercisable at March 31, 2015 and expected to vest thereafter	3,817,900	$	0.89		5.19	$	697,133

	Weighted average exercise price		Weighted average contractual term		Aggregate intrinsic value		Number of shares
Outstanding at January 1, 2014	$	0.85		4.05	$	295,553		3,015,000
Granted	$	0.80		9.43				1,121,000
Canceled	$	0.46		7.50				(347,667	)
Exercised	$	0.35		8.45				(33,333	)
Outstanding at December 31, 2014	$	0.87		5.30	$	757,650		3,755,000
Vested and exercisable at December 31, 2014	$	0.89		4.74	$	757,650		3,314,999
Vested and exercisable at December 31, 2014 and expected to vest thereafter	$	0.89		5.30	$	757,650		3,704,400

Schedule of option input into a Black Scholes option pricing model

	2015
Exercise price	$0.75 to $0.90
Expected life	6 years
Expected volatility	37%
Dividend yield	0	%
Risk-free interest rate	1.64% to 2.70%

	2014
Exercise price	$0.75 to $0.90
Expected life	6 years
Expected volatility	37%
Dividend yield	0	%
Risk-free interest rate	1.64% to 2.70%

Warrants (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2015

Dec. 31, 2014

Warrants [Abstract]

Schedule of warrants, valuation assumptions

Exercise price	$	1.10
Term	4 years
Expected volatility		37%
Dividend yield		0	%
Risk-free interest rate		.09	%

Exercise price	$	1.10
Term	4 years
Expected volatility		37%
Dividend yield		0	%
Risk-free interest rate		.09	%

Schedule of stock warrants

				Weighted Average
Exercise		Number		Remaining
Price		Outstanding		Contractual Life

$	1.10		1,342,500	3 years
	1.00		2,000,004	6 years
$	0.55		1,773,027	7 years
			5,115,531

				Weighted Average
Exercise		Number		Remaining
Price		Outstanding		Contractual Life

$	1.10		1,342,500	3 years
	1.00		2,000,004	6 years
$	0.55		1,773,027	7 years
			5,115,531

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes [Abstract]

Schedule of total provision for income taxes from continuing operations

	2014			2013

Federal tax benefit at statutory rate	$	(1,657,000	)	$	(235,000	)
State tax benefit, net of federal tax		(61,000	)		(10,000	)
Permanent differences		(38,000	)		5,000
Increase in valuation allowance		1,298,000			240,000
Benefit for income taxes	$	(458,000	)	$	-

Schedule of deferred assets and liabilities

	2014			2013
Deferred tax assets:
Equity based compensation	$	229,000		$	102,000
Allowance for doubtful accounts		552,000			1,000
Lease merchandise		582,000			-
Net operating loss carry-forwards		1,680,000			1,660,000

Gross deferred tax assets		3,043,000			1,763,000
Valuation allowance		(3,042,000	)		(1,744,000	)
Net deferred tax assets		1,000			19,000
Deferred tax liabilities:
Fixed assets		(1,000	)		(19,000	)
	$	-		$	-

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies [Abstract]

Schedule of Future Minimum Lease Payments

2015	$	118,000
2016		121,500
2017		125,300
2018		129,000
2019		77,000
	$	570,800

Restatement (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2015

Dec. 31, 2014

Restatement [Abstract]

Schedule of net loss and related loss per share

Net loss:
As previously reported	$	(946,729	)
Adjustment		158,529
As adjusted	$	(788,200	)
Basic and diluted net loss per common share:
As previously reported	$	(0.05	)
Adjustment		0.01
As adjusted	$	(0.04	)

	Quarter Ended:
Net loss:	March 31,			June 30,			September 30,
As previously reported	$	(1,201,375	)	$	(1,244,069	)	$	(1,364,623	)
Adjustment		158,529			233,751			235,366
As adjusted	$	(1,042,846	)	$	(1,010,318	)	$	(1,129,257	)
Basic and diluted loss per common share:
As previously reported	$	(0.05	)	$	(0.05	)	$	(0.04	)
Adjustment		0.01			0.01			0.01
As adjusted	$	(0.04	)	$	(0.04	)	$	(0.03	)

Fourth Quarter Adjustment (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2015

Dec. 31, 2014

Fourth Quarter Adjustment [Abstract]

Fourth quarter events

Quarter Ended		Amount
March 31	$	158,529
June 30		233,751
September 30		235,366
	$	627,646

Schedule of net loss and related loss per share

Net loss:
As previously reported	$	(946,729	)
Adjustment		158,529
As adjusted	$	(788,200	)
Basic and diluted net loss per common share:
As previously reported	$	(0.05	)
Adjustment		0.01
As adjusted	$	(0.04	)

	Quarter Ended:
Net loss:	March 31,			June 30,			September 30,
As previously reported	$	(1,201,375	)	$	(1,244,069	)	$	(1,364,623	)
Adjustment		158,529			233,751			235,366
As adjusted	$	(1,042,846	)	$	(1,010,318	)	$	(1,129,257	)
Basic and diluted loss per common share:
As previously reported	$	(0.05	)	$	(0.05	)	$	(0.04	)
Adjustment		0.01			0.01			0.01
As adjusted	$	(0.04	)	$	(0.04	)	$	(0.03	)

Business (Details)	3 Months Ended	12 Months Ended
Business (Details)	Mar. 31, 2015	Dec. 31, 2014
Business [Abstract]
Limited liability percentage of FlexShopper, LLC	100.00%	100.00%

Summary of Significant Accounting Policies (Details) - USD ($)	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Summary of Significant Accounting Policies [Abstract]
Accounts receivable	$ 2,244,861	$ 1,509,736	$ 119
Allowance for doubtful accounts	2,076,420	1,380,902
Accounts receivable, net	$ 168,441	$ 128,834	$ 119

Summary of Significant Accounting Policies (Details 1) - USD ($)	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Summary of Significant Accounting Policies [Abstract]
Lease merchandise at cost	$ 8,040,790	$ 6,929,509	$ 8,128
Accumulated depreciation	3,426,342	2,160,591	124
Impairment reserve	582,000	527,000
Lease merchandise, net	$ 4,032,448	$ 4,241,918	$ 8,004

Summary of Significant Accounting Policies (Details 2) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Summary of Significant Accounting Policies [Abstract]
Patent costs	$ 30,760	$ 30,760
Accumulated amortization	4,268
Patent costs, net	$ 26,492	$ 30,760

Summary of Significant Accounting Policies (Details 3) - shares	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	11,151,777	10,855,378	8,185,282
Convertible preferred stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	2,166,246	1,984,870	1,919,573
Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	3,870,000	3,755,000	2,923,205
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	5,115,531	5,115,531	3,342,504

Summary of Significant Accounting Policies (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Summary of Significant Accounting Policies [Abstract]
Amortization method	Straight line method		Straight line method
Revenue for lease payments	$ 30,750		$ 38,000
Total advertising costs	$ 548,546		885,000
Leases receivable, description		35000
Concentration risk, percentage	0.50%
Impairment charge to cost of lease revenue	$ 55,000		$ 527,000
Life of Assets	10 years		10 years
Revenue Recognition	Through a 90 day same as cash option or through payments of all required lease payments generally 52 weeks, for ownership.		Through a 90 day same as cash option or through payments of all required lease payments generally 52 weeks, for ownership.
Flexible options to obtain ownership description	Customers have the option to cancel the agreement in accordance with lease terms and return the merchandise. Accordingly, customer agreements are accounted for as operating leases with lease revenues recognized in the month they are due on the accrual basis of accounting. Merchandise sales revenue is recognized when the customer exercises the purchase option and pays the purchase price. Revenue from processing fees earned upon exercise by the customer of the 90 day purchase option is recorded upon recognition of the related merchandise sales.		Customers have the option to cancel the agreement in accordance with lease terms and return the merchandise. Accordingly, customer agreements are accounted for as operating leases with lease revenues recognized in the month they are due on the accrual basis of accounting. Merchandise sales revenue is recognized when the customer exercises the purchase option and pays the purchase price. Revenue from processing fees earned upon exercise by the customer of the 90 day purchase option is recorded upon recognition of the related merchandise sales.
Accounts receivable were charged off against the allowance	$ 127,263
Amortization	48,771
Unamortized issuance costs	$ 1,121,730

Discontinued Operations (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Assets of discontinued operations:
Retained interest in purchased accounts receivable	$ 6,500	$ 4,966,338
Earned but uncollected fees		141,077
Due from client		256,313
Assets of discontinued operations, Total	6,500	5,363,728
Liabilities of discontinued operations:
Accounts payable	7,626	26,966
Accrued expenses	7,626	51,719
Due to financial institution		3,240,942
Deferred revenue		12,328
Liabilities of discontinued operations,Total	$ 7,626	$ 3,331,955

Discontinued Operations (Details 1) - USD ($)	3 Months Ended	12 Months Ended
Discontinued Operations (Details 1) - USD ($)	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Discontinued Operations [Abstract]
Finance revenues	$ 463,842	$ 735,357	$ 2,364,128
Interest expense-financial institution	(70,614)	(109,878)	(385,918)
Provision for credit losses	(864)	24,904	(62,603)
Net finance revenues	392,364	650,383	1,915,607
Operating expenses	(137,718)	(446,733)	(1,953,814)
Other income		153,453
Commissions on sale and other income		357,103	(38,207)
Gain on sale of discontinued assets		788,015
Income from discontinued operations before income taxes	$ 254,646	$ 1,145,118	$ (38,207)

Discontinued Operations (Detail Textual) - USD ($)	3 Months Ended		12 Months Ended
Discontinued Operations (Detail Textual) - USD ($)	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Discontinued Operations [Textual]
Asset purchase and sale agreement description	The purchase price for the Anchor Assets was equal to (1) approximately $4,445,000 which represented 110% of the total funds outstanding associated with the Portfolio Accounts which resulted in a gain of approximately $445,000 plus (2) an amount equal to 50% of the factoring fee and interest income earned by the Portfolio Accounts during the 12 month period following acquisition.		The purchase price for the Anchor Assets was equal to (1) approximately $4,445,000 which represented 110% of the total funds outstanding associated with the Portfolio Accounts which resulted in a gain of approximately $445,000 plus (2) an amount equal to 50% of the factoring fee and interest income earned by the Portfolio Accounts during the 12 month period following acquisition.
Purchase price of the assets	$ 4,445,000		$ 4,445,000
Gain on purchase of assets	445,000		4,445,000
Gain from the sale of discontinued operation	120,484	$ 788,015	788,015
Earnout payments	$ 120,484		$ 342,541

Property and Equipment (Details) - USD ($)	3 Months Ended	12 Months Ended
Property and Equipment (Details) - USD ($)	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	$ 1,695,094	$ 1,472,298	$ 316,470
Less: accumulated depreciation	(525,393)	(420,601)	(258,391)
Property and equipment, net	1,169,701	1,051,697	58,079
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	$ 99,982	$ 99,982	64,945
Furniture and Fixtures \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years	5 years
Furniture and Fixtures \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years	2 years
Computers and Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	$ 366,402	$ 355,213	251,525
Computers and Software [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years	7 years
Computers and Software [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years	3 years
Website and internal use software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	$ 1,228,710	$ 1,017,103
Estimated useful lives	3 years	3 years

Property and Equipment (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
Property and Equipment (Details Textual) - USD ($)	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Property And Equipment [Textual]
Depreciation and amortization expense	$ 104,792	$ 14,988	$ 162,210	$ 38,326

Loans Payable Shareholders (Details)

1 Months Ended

3 Months Ended

12 Months Ended

Mar. 11, 2015

USD ($)

Dec. 08, 2014

USD ($)

Mar. 19, 2014

USD ($)

Promissory_Note

$ / shares

Mar. 31, 2015

USD ($)

Mar. 31, 2014

USD ($)

Dec. 31, 2014

USD ($)

Dec. 31, 2013

USD ($)

^[1]

Schedule Of Loan Payable To Officer [Line Items]

Promissory notes, face amount

$ 1,000,000

Interest rate of promissory note

15.00%

10.00%

Interest rate of promissory note, amount

$ 7,083,000

$ 10

Conversion price | $ / shares

$ 0.55

Contribution to capital

$ 4,900

Number of promissory notes | Promissory_Note

Interest paid

$ 36,250

$ 81,370

^[1]

$ 369,487

Commercial Paper [Member]

Schedule Of Loan Payable To Officer [Line Items]

Interest paid

$ 36,250

Morry Rubin | Line Of Credit Promissory Note

Schedule Of Loan Payable To Officer [Line Items]

Promissory notes, face amount

$ 500,000

Major Shareholder | Line Of Credit Promissory Note

Schedule Of Loan Payable To Officer [Line Items]

Promissory notes, face amount

$ 500,000

[1]	Discontinued operations

Loan Payable (Details) - USD ($)	Mar. 06, 2015	Mar. 31, 2015	Dec. 08, 2014	Mar. 19, 2014
Short-term Debt [Line Items]
Percentage of interest rate			15.00%	10.00%
Credit Agreement [Member]
Short-term Debt [Line Items]
Borrowed from lender	$ 25,000,000
Term of Debt	2 years
Additional debt financing to Flex shopper	$ 100,000,000
Percentage of average on drawn	Less than 80
Percentage of interest rate	15.00%
Funded agreement		$ 2,019,563

Capital Structure (Details) - USD ($)		1 Months Ended		3 Months Ended		6 Months Ended	12 Months Ended
Capital Structure (Details) - USD ($)	Mar. 06, 2015	Mar. 19, 2014	Jan. 31, 2007	Mar. 31, 2015	Mar. 31, 2014	Oct. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Mar. 26, 2015
Preferred stock, par value (in dollars per share)				$ 0.001			$ 5.00	$ 0.001
Preferred stock, shares authorized (in shares)				10,000,000			10,000,000	10,000,000
Preferred stock, shares outstanding				342,219			342,219	376,387
Preferred stock conversion into common stock, shares
Common stock, shares authorized (in shares)				65,000,000			65,000,000	65,000,000	65,000,000
Common stock, par value				$ 0.0001			$ 0.0001	$ 0.0001
Restricted common stock, shares								2,500,000
Shares issued to consultants for services								14,493
Proceeds from sale of common stock, net of $801,806 of related costs				$ 8,548,194			$ 6,501,104	$ 1,000,000
Preferred shares were converted							34,168 preferred shares were converted into 194,758 common shares.
Common stock, voting rights				The Company's Common Stock and has voting rights of 5.877 common shares. The holder of the Series 1 Convertible Preferred Stock has the option to convert the shares to Common Stock at any time. Upon conversion, all accumulated and unpaid dividends were to be paid as additional shares of Common Stock.			The Company's Common Stock and has voting rights of 5.877 common shares. The holder of the Series 1 Convertible Preferred Stock has the option to convert the shares to Common Stock at any time. Upon conversion, all accumulated and unpaid dividends were to be paid as additional shares of Common Stock.
Restricted common stock, per share								$ 0.40
Common Stock, Shares, Issued				52,015,322			35,015,322	21,148,862
Purchase price per share									$ 0.55
Board of Directors [Member]
Common Stock, Shares, Issued									4,000,000
Credit Agreement [Member]
Proceeds from sale of common stock, net of $801,806 of related costs	$ 8,600,000
Number of common stock shares sold	17,000,000
Common Stock, Shares, Issued									4,000,000
Purchase price per share	$ 0.55
Maximum [Member] \| Board of Directors [Member]
Common Stock, Shares, Issued									100,000,000
Minimum [Member] \| Board of Directors [Member]
Common Stock, Shares, Issued									65,000,000
Private Placement [Member]
Proceeds from sale of common stock, net of $801,806 of related costs						$ 6,501,100
Number of common stock shares sold						11,820,187
Debt conversion amount				$ 500,000
Common stock issued for conversion of debt, Shares				1,818,182
Common stock issued for conversion of debt				$ 1,000,000
Common shares exercise price						$ 0.055
Warrants to purchase common stock						1,773,027
Offering Price						$ 0.55
Placement Agent [Member]
Warrants to purchase common stock						1,773,027
Series 1 Preferred Stock [Member]
Preferred stock conversion ratio							5.8 shares
Convertible Preferred Stock [Member]
Preferred stock conversion into common stock, shares		1,984,870
Series 1 Convertible Preferred Stock [Member]
Preferred stock conversion into common stock, shares			2,000,000	2,166,246
Dividend rate on Series 1 Convertible Preferred Stock							8.00%
Preferred stock conversion ratio				6.33 shares			5.1 shares

Stock Options (Details) - USD ($)	3 Months Ended	12 Months Ended
Stock Options (Details) - USD ($)	Mar. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average contractual term remaining contractual Life	2 years 4 months 24 days	2 years 6 months
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding	3,755,000	3,015,000
Number of shares granted	115,000	1,121,000
Number of shares canceled		(347,667)
Number of shares exercised		(33,333)
Number of Shares, Outstanding	3,870,000	3,755,000
Number of shares vested and exercisable	3,314,999	3,314,999
Number of shares vested and exercisable expected to vest thereafter	3,817,900	3,704,400
Balance	$ 0.87	$ 0.85
Weighted average exercise price granted	0.82	0.80
Weighted average exercise price canceled		0.46
Weighted average exercise price exercised		0.35
Balance	0.87	0.87
Weighted average exercise price vested and exercisable	0.89	0.89
Weighted average exercise price vested and exercisable expected to vest thereafter	$ 0.89	$ 0.89
Weighted average contractual term remaining contractual Life	5 years 3 months 18 days	4 years 18 days
Weighted average contractual term granted	9 years 11 months 16 days	9 years 5 months 5 days
Weighted average contractual term canceled		7 years 6 months
Weighted average contractual term exercised		8 years 5 months 12 days
Weighted average contractual term remaining contractual Life	5 years 2 months 9 days	5 years 3 months 18 days
Weighted average contractual term vested and exercisable	4 years 6 months 22 days	4 years 8 months 27 days
Weighted average contractual term vested and exercisable expected to vest thereafter	5 years 2 months 9 days	5 years 3 months 18 days
Aggregate Intrinsic Value, Outstanding	$ 757,650	$ 295,553
Aggregate Intrinsic Value, Outstanding	697,133	757,650
Aggregate intrinsic value vested and exercisable	697,133	757,650
Aggregate intrinsic value vested and exercisable expected to vest thereafter	$ 697,133	$ 757,650

Stock Options (Details 1) - Stock Options [Member] - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life	6 years	6 years
Expected volatility	37.00%	37.00%
Dividend yield	0.00%	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price	$ 0.75	$ 0.75
Risk-free interest rate	1.64%	1.64%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price	$ 0.90	$ 0.90
Risk-free interest rate	2.70%	2.70%

Stock Options (Details Textual) - USD ($)		1 Months Ended		3 Months Ended		12 Months Ended
Stock Options (Details Textual) - USD ($)	Oct. 14, 2014	Jul. 25, 2014	Mar. 24, 2014	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Oct. 31, 2009	Jan. 31, 2007
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of options granted						$ 68,800
Share-based Compensation				$ 13,200	$ 231,000	$ 299,700	$ 49,805
Remaining Contractual Life				2 years 4 months 24 days		2 years 6 months
Aggregate Intrinsic value of the options exercised						$ 21,666
Unrecognized compensation cost related to non-vested options				$ 220,596		$ 130,400
weighted average grant date fair value of options granted				$ 0.06		$ 0.06
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period		10 years
Option Issued To Purchase Common Stock		180,000
Two Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Option Issued To Purchase Common Stock	180,000
Officer and Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			10 years
Option Issued To Purchase Common Stock			250,000
2007 Omnibus Equity Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares authorized for issuance (in shares)								4,200,000	2,100,000

Warrants (Details) - Warrant - $ / shares	3 Months Ended	12 Months Ended
Warrants (Details) - Warrant - $ / shares	Mar. 31, 2015	Dec. 31, 2014
Class of Warrant or Right [Line Items]
Exercise price	$ 1.10	$ 1.10
Term	4 years	4 years
Expected volatility	37.00%	37.00%
Dividend yield	0.00%	0.00%
Risk-free interest rate	0.09%	0.09%

Warrants (Details 1) - Warrant - $ / shares	3 Months Ended	12 Months Ended
Warrants (Details 1) - Warrant - $ / shares	Mar. 31, 2015	Dec. 31, 2014
Class of Warrant or Right [Line Items]
Number Outstanding	5,115,531	5,115,531
Exercise Price $ 1.10
Class of Warrant or Right [Line Items]
Exercise price	$ 1.10	$ 1.10
Number Outstanding	1,342,500	1,342,500
Weighted Average Remaining Contractual Life	3 years	3 years
Exercise Price $ 1.00
Class of Warrant or Right [Line Items]
Exercise price	$ 1.00	$ 1.00
Number Outstanding	2,000,004	2,000,004
Weighted Average Remaining Contractual Life	6 years	6 years
Exercise price $ 0.55
Class of Warrant or Right [Line Items]
Exercise price	$ 0.55	$ 0.55
Number Outstanding	1,773,027	1,773,027
Weighted Average Remaining Contractual Life	7 years	7 years

Warrants (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
Warrants (Details Textual) - USD ($)	Jan. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Class of Warrant or Right [Line Items]
Compensation expenses for issuance of warrants		$ 0	$ 2,800	$ 139,620	$ 1,916
Warrant
Class of Warrant or Right [Line Items]
Number of common stock shares to purchase warrant	1,342,500
Warrants dxpiration date	Jan. 31, 2018
Exercise price of warrants	$ 1.10
Fair value of price per warrant	$ 0.104

Income Taxes (Details) - USD ($)	3 Months Ended		12 Months Ended
Income Taxes (Details) - USD ($)	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Income Taxes [Abstract]
Federal tax benefit at statutory rate			$ (1,657,000)	$ (235,000)
State tax benefit, net of federal tax			(61,000)	(10,000)
Permanent differences			(38,000)	5,000
Increase in valuation allowance			1,298,000	$ 240,000
Benefit for income taxes	$ (45,784)	$ (96,765)	$ (458,047)

Income Taxes (Details 1) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Deferred tax assets:
Equity based compensation	$ 229,000	$ 102,000
Allowance for doubtful accounts	552,000	1,000
Lease merchandise	582,000
Net operating loss carry-forwards	1,680,000	1,660,000
Gross deferred tax assets	3,043,000	1,763,000
Valuation allowance	(3,042,000)	(1,744,000)
Net deferred tax assets	1,000	19,000
Deferred tax liabilities:
Fixed assets	(1,000)	(19,000)
Deferred Tax Liabilities, Net

Income Taxes (Details Textual)	12 Months Ended
Income Taxes (Details Textual)	Dec. 31, 2014 USD ($)
Operating Loss Carryforwards [Line Items]
Statutory federal tax rate	34.00%
Operating loss carry forwards expiration period	<div>2022 to 2034</div>
Federal [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 4,547,000
State [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 3,351,000

Commitments and Contingencies (Details)	Dec. 31, 2014 USD ($)
Commitments and Contingencies [Abstract]
2015	$ 118,000
2016	121,500
2017	125,300
2018	129,000
2019	77,000
Total	$ 570,800

Commitments and Contingencies (Details Textual) - USD ($)	1 Months Ended		12 Months Ended
	Aug. 01, 2013	Oct. 22, 2010	Dec. 31, 2014	Dec. 31, 2013	Sep. 09, 2014
Commitments and Contingencies [Abstract]
Rental expense	$ 6,800		$ 163,500	$ 58,800
Description of leasing arrangements	This lease agreement was amended in January 2014 to reflect a 63 month term for a larger suite in an adjoining building.
Principal amount, sought value		$ 485,000
Discontinued operations					$ 124,774
Term of lease	39 months
Monthly base rent			$ 9,600

Employment Agreements (Details) - USD ($)	12 Months Ended
Employment Agreements (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Brad Bernstein [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Annual salary	$ 240,000	$ 240,000
In the event services are terminated	In the event Mr. Bernstein's services are terminated due to death or disability, Mr. Bernstein would receive six months' severance pay. In the event Mr. Bernstein is terminated without cause, Mr. Bernstein would receive 12 months' severance pay.
Employment agreement expiration date	Jan. 31, 2016
Morry Rubin [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Annual salary	$ 98,538	$ 85,307
Percentage of health insurance premium	50.00%

Fourth Quarter Adjustment (Details) - USD ($)	3 Months Ended			9 Months Ended
Fourth Quarter Adjustment (Details) - USD ($)	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2014
Fourth Quarter Adjustment [Abstract]
Quarter ended amount	$ 235,366	$ 233,751	$ 158,529	$ 627,646

Fourth Quarter Adjustment (Details 1) - USD ($)	3 Months Ended				12 Months Ended
Fourth Quarter Adjustment (Details 1) - USD ($)	Mar. 31, 2015	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Effect of Fourth Quarter Events [Line Items]
Net loss	$ (1,393,723)			$ (946,729)	$ (3,730,333)	$ (693,681)
As previously reported [Member]
Effect of Fourth Quarter Events [Line Items]
Net loss	$ (946,729)	$ (1,364,623)	$ (1,244,069)	$ (1,201,375)
Basic and diluted loss per common share	$ (0.05)	$ (0.04)	$ (0.05)	$ (0.05)
Adjustment [Member]
Effect of Fourth Quarter Events [Line Items]
Net loss	$ 158,529	$ 235,366	$ 233,751	$ 158,529
Basic and diluted loss per common share	$ 0.01	$ 0.01	$ 0.01	$ 0.01
As adjusted [Member]
Effect of Fourth Quarter Events [Line Items]
Net loss	$ (788,200)	$ (1,129,257)	$ (1,010,318)	$ (1,042,846)
Basic and diluted loss per common share	$ (0.04)	$ (0.03)	$ (0.04)	$ (0.04)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Fourth Quarter Adjustment (Details Textual) - USD ($)	3 Months Ended			9 Months Ended
Fourth Quarter Adjustment (Details Textual) - USD ($)	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2014	Dec. 31, 2014
Quarterly Financial Information Disclosure (Textual)
Capitalized of website and software cost					$ 1,017,104
Accumulated amortization					103,222
Net adjustment					$ 913,822
Quarter ended amount	$ 235,366	$ 233,751	$ 158,529	$ 627,646

Restatements (Details) - USD ($)	3 Months Ended				12 Months Ended
Restatements (Details) - USD ($)	Mar. 31, 2015	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	$ (1,393,723)			$ (946,729)	$ (3,730,333)	$ (693,681)
As previously reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	$ (946,729)	$ (1,364,623)	$ (1,244,069)	$ (1,201,375)
Basic and diluted loss per common share	$ (0.05)	$ (0.04)	$ (0.05)	$ (0.05)
Adjustment [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	$ 158,529	$ 235,366	$ 233,751	$ 158,529
Basic and diluted loss per common share	$ 0.01	$ 0.01	$ 0.01	$ 0.01
As adjusted [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	$ (788,200)	$ (1,129,257)	$ (1,010,318)	$ (1,042,846)
Basic and diluted loss per common share	$ (0.04)	$ (0.03)	$ (0.04)	$ (0.04)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Restatements (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
Restatements (Details Textual) - USD ($)	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Restatement (Textual)
Capitalized of website and software cost			$ 1,017,104
Accumulated amortization			103,222
Net adjustment	$ 913,822		627,646
Quarter ended amount	158,529
Income tax benefit	$ (45,784)	$ (96,765)	$ (458,047)

Subsequent Events (Details) - USD ($)		12 Months Ended
Subsequent Events (Details) - USD ($)	Mar. 06, 2015	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2015	Mar. 26, 2015
Subsequent Event (Textual)
Offering price					$ 0.55
Net proceeds from direct sale		$ (950,617)
Common stock, shares authorized		65,000,000	65,000,000	65,000,000	65,000,000
Common stock, shares issued		35,015,322	21,148,862	52,015,322
Subsequent Event [Member]
Subsequent Event (Textual)
Number of common stock shares sold	17,000,000
Offering price	$ 0.55
Net proceeds from direct sale	$ 8,600,000
Borrowings by Flexshopper	$ 25,000,000
Convertible preferred stock to common stock	Series 1 Convertible Preferred Stock is now convertible into 6.33 shares of the Company's common stock or a total of 2,166,246 common shares. as a result of the anti-dilution rights of the Preferred Stock.
Additional debt financing to Flex shopper	$ 100,000,000
Common stock, shares authorized					65,000,000
Increase in common stock authorized					100,000,000
Subsequent Event [Member] \| 2007 Plan [Member]
Subsequent Event (Textual)
Common stock, shares issued					4,000,000