<SEC-DOCUMENT>0001140361-22-029628.txt : 20220815
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<ACCEPTANCE-DATETIME>20220815160224
ACCESSION NUMBER: 0001140361-22-029628
CONFORMED SUBMISSION TYPE: 10-Q
PUBLIC DOCUMENT COUNT: 50
CONFORMED PERIOD OF REPORT: 20220630
FILED AS OF DATE: 20220815
DATE AS OF CHANGE: 20220815
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: MORGAN GROUP HOLDING CO
CENTRAL INDEX KEY: 0001162283
STANDARD INDUSTRIAL CLASSIFICATION: SECURITY & COMMODITY BROKERS, DEALERS, EXCHANGES & SERVICES [6200]
IRS NUMBER: 134196940
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 10-Q
SEC ACT: 1934 Act
SEC FILE NUMBER: 333-73996
FILM NUMBER: 221165586
BUSINESS ADDRESS:
STREET 1: 401 THEODORE FREMD AVENUE
CITY: RYE
STATE: NY
ZIP: 10580
BUSINESS PHONE: 9149218821
MAIL ADDRESS:
STREET 1: 401 THEODORE FREMD AVENUE
CITY: RYE
STATE: NY
ZIP: 10580
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>brhc10040602_10q.htm
<DESCRIPTION>10-Q
<TEXT>
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id="c20211231_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember"><xbrli:entity><xbrli:identifier scheme="http://www.sec.gov/CIK">0001162283</xbrli:identifier><xbrli:segment><xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember><xbrldi:explicitMember dimension="us-gaap:FairValueByMeasurementFrequencyAxis">us-gaap:FairValueMeasurementsRecurringMember</xbrldi:explicitMember></xbrli:segment></xbrli:entity><xbrli:period><xbrli:instant>2021-12-31</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="c20220630_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember"><xbrli:entity><xbrli:identifier scheme="http://www.sec.gov/CIK">0001162283</xbrli:identifier><xbrli:segment><xbrldi:explicitMember 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scheme="http://www.sec.gov/CIK">0001162283</xbrli:identifier><xbrli:segment><xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mghl:GResearchLLCMember</xbrldi:explicitMember></xbrli:segment></xbrli:entity><xbrli:period><xbrli:instant>2022-06-30</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="c20211231_BusinessAcquisitionAxis_GResearchLLCMember"><xbrli:entity><xbrli:identifier scheme="http://www.sec.gov/CIK">0001162283</xbrli:identifier><xbrli:segment><xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mghl:GResearchLLCMember</xbrldi:explicitMember></xbrli:segment></xbrli:entity><xbrli:period><xbrli:instant>2021-12-31</xbrli:instant></xbrli:period></xbrli:context><xbrli:unit id="U001"><xbrli:measure>xbrli:shares</xbrli:measure></xbrli:unit><xbrli:unit id="U002"><xbrli:measure>iso4217:USD</xbrli:measure></xbrli:unit><xbrli:unit 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<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
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<div style="text-align: center; font-size: 14pt; font-weight: bold;">UNITED STATES<br />
</div>
<div style="text-align: center; font-size: 14pt; font-weight: bold;">SECURITIES & EXCHANGE COMMISSION</div>
<div style="margin: 0px 0px 5pt; font-size: 12pt; font-weight: bold; text-align: center;">WASHINGTON, D.C. 20549</div>
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<div style="padding-top: 1pt;">
<div style="margin: 5pt 0px; font-weight: bold; text-align: center;">FORM <ix:nonNumeric name="dei:DocumentType" id="Fact_928085cfdd474ec0ba35da7210b477ff" contextRef="c20220101to20220630">10-Q</ix:nonNumeric></div>
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<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">
<tr>
<td style="width: 27pt; vertical-align: top;"><ix:nonNumeric name="dei:DocumentQuarterlyReport" id="Fact_a9e6e8116e3c4bbbb08d34fecafd63bf" contextRef="c20220101to20220630" format="ixt-sec:boolballotbox">☒</ix:nonNumeric><br />
</td>
<td style="width: auto; vertical-align: top;">
<div>QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</div>
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</table>
<div style="text-align: center;">For the quarterly period ended <ix:nonNumeric name="dei:DocumentPeriodEndDate" id="Fact_f1f4c166123a475ba2fa1d8619616602" contextRef="c20220101to20220630" format="ixt:datemonthdayyearen">June 30, 2022</ix:nonNumeric></div>
<div> </div>
<div style="text-align: center;">or</div>
<div> </div>
<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">
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<td style="width: 27pt; vertical-align: top;"><ix:nonNumeric name="dei:DocumentTransitionReport" id="Fact_d5931f43a440453a942e41c75d9281fc" contextRef="c20220101to20220630" format="ixt-sec:boolballotbox">☐</ix:nonNumeric><br />
</td>
<td style="width: auto; vertical-align: top;">
<div>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</div>
</td>
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<div style="text-align: center;">For the transition period from ___ to ___</div>
<div><br />
</div>
<div style="text-align: center;">Commission File No. <span style="text-decoration: underline;"><ix:nonNumeric name="dei:EntityFileNumber" id="Fact_da0c7337168b42a4828e6898a7a83b75" contextRef="c20220101to20220630">333-73996</ix:nonNumeric></span></div>
<div><br />
</div>
<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">
<tr>
<td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 24pt;">
<div style="text-align: center; font-weight: bold;"><ix:nonNumeric name="dei:EntityRegistrantName" id="Fact_81b6b9ca6bd841a08b7ae4f53adbffdd" contextRef="c20220101to20220630">Morgan Group Holding Co</ix:nonNumeric>.</div>
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<td style="width: 100%; vertical-align: top;">
<div style="text-align: center;">(Exact name of Registrant as specified in its charter)</div>
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<div><br />
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<table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">
<tr>
<td style="width: 49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center;"><ix:nonNumeric name="dei:EntityIncorporationStateCountryCode" id="Fact_00dc5c2dcf5d4f88b393daa32860de7b" contextRef="c20220101to20220630" format="ixt-sec:stateprovnameen">Delaware</ix:nonNumeric><br />
</div>
</td>
<td style="width: 2%; vertical-align: top;"> </td>
<td style="width: 49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center;"><ix:nonNumeric name="dei:EntityTaxIdentificationNumber" id="Fact_949af00fcd084f87b5281ae852f98daa" contextRef="c20220101to20220630">13-4196940</ix:nonNumeric><br />
</div>
</td>
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<tr>
<td style="width: 49%; vertical-align: top;">
<div style="text-align: center;">(State of other jurisdiction of incorporation or organization)</div>
</td>
<td style="width: 2%; vertical-align: top;"> </td>
<td style="width: 49%; vertical-align: top;">
<div style="text-align: center;">(I.R.S. Employer Identification No.)</div>
</td>
</tr>
<tr>
<td style="width: 49%; vertical-align: top;"> </td>
<td style="width: 2%; vertical-align: top;"> </td>
<td style="width: 49%; vertical-align: top;"> </td>
</tr>
<tr>
<td style="width: 49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center;"><ix:nonNumeric name="dei:EntityAddressAddressLine1" id="Fact_48ddbed52c15422583d4e932ef6261cf" contextRef="c20220101to20220630">401 Theodore Fremd Avenue</ix:nonNumeric>, <ix:nonNumeric name="dei:EntityAddressCityOrTown" id="Fact_dbdaa020b85b4e6ba6ce985df4bcbf0f" contextRef="c20220101to20220630">Rye</ix:nonNumeric>, <ix:nonNumeric name="dei:EntityAddressStateOrProvince" id="Fact_38654f626187472d98436554b010bcf1" contextRef="c20220101to20220630">NY</ix:nonNumeric></div>
</td>
<td style="width: 2%; vertical-align: top;"> </td>
<td style="width: 49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center;"><ix:nonNumeric name="dei:EntityAddressPostalZipCode" id="Fact_168671b8c6984d66aa1914720c2192c5" contextRef="c20220101to20220630">10580</ix:nonNumeric><br />
</div>
</td>
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<tr>
<td style="width: 49%; vertical-align: top;">
<div style="text-align: center;">(Address of principle executive offices)</div>
</td>
<td style="width: 2%; vertical-align: top;"> </td>
<td style="width: 49%; vertical-align: top;">
<div style="text-align: center;">(Zip Code)</div>
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<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">
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<td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center;">(<ix:nonNumeric name="dei:CityAreaCode" id="Fact_89224484e7854b8d8b91ba094c8e4e60" contextRef="c20220101to20220630">914</ix:nonNumeric>) <ix:nonNumeric name="dei:LocalPhoneNumber" id="Fact_f76a488f72fe485fba9aceac0e1ee5ab" contextRef="c20220101to20220630">921-5216</ix:nonNumeric></div>
</td>
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<td style="width: 100%; vertical-align: top;">
<div style="text-align: center;">(Registrant’s telephone number, including area code)</div>
</td>
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<div>Securities registered pursuant to Section 12(b) of the Act:</div>
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<td style="width: 39.49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center;">Title of each class</div>
</td>
<td style="width: 21.73%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center;">Trading Symbol(s)</div>
</td>
<td style="width: 38.78%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center;">Name of each exchange on which registered</div>
</td>
</tr>
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<td style="width: 39.49%; vertical-align: top;">
<div style="text-align: center;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_158fceb38ef2444695fc6e0860908783" contextRef="c20220101to20220630">Common Stock, par value $0.01 per share</ix:nonNumeric><br />
</div>
</td>
<td style="width: 21.73%; vertical-align: top;">
<div style="text-align: center;"><ix:nonNumeric name="dei:TradingSymbol" id="Fact_d161392767624d4e8f58200de40833ef" contextRef="c20220101to20220630">MGHL</ix:nonNumeric></div>
</td>
<td style="width: 38.78%; vertical-align: top;">
<div style="text-align: center;"><span style="-sec-ix-hidden:Fact_c51d2e2fb3504bca91472941a3dcd65f">OTC Pink</span>®</div>
</td>
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</table>
<div><br />
</div>
<div style="text-align: justify;">Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.</div>
<div style="text-align: justify;"><ix:nonNumeric name="dei:EntityCurrentReportingStatus" id="Fact_98a08cd9e1784ca1891f29d6d6da69c6" contextRef="c20220101to20220630">Yes</ix:nonNumeric>  ☒    No ☐</div>
<div><br />
</div>
<div style="text-align: justify;">Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such
shorter period that the registrant was required to submit such files) <ix:nonNumeric name="dei:EntityInteractiveDataCurrent" id="Fact_e0607d994d0b40dbafd7e20c8becd323" contextRef="c20220101to20220630">Yes</ix:nonNumeric> ☒    No ☐</div>
<div><br />
</div>
<div style="text-align: justify;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large
accelerated filer”, “accelerated filer”, “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):</div>
<div><br />
</div>
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<td style="width: 25%; vertical-align: top;">
<div>Large accelerated filer ☐</div>
</td>
<td style="width: 5%; vertical-align: top;"> </td>
<td style="width: 30%; vertical-align: top;">
<div>Accelerated filer ☐</div>
</td>
<td style="width: 40%; vertical-align: top;"> </td>
</tr>
<tr>
<td style="width: 25%; vertical-align: top;">
<div><ix:nonNumeric name="dei:EntityFilerCategory" id="Fact_ecd29fa8c1214b02b583e8c0e815fca1" contextRef="c20220101to20220630" format="ixt-sec:entityfilercategoryen">Non-accelerated filer</ix:nonNumeric> ☒</div>
</td>
<td style="width: 5%; vertical-align: top;"> </td>
<td style="width: 30%; vertical-align: top;">
<div>Smaller reporting company <ix:nonNumeric name="dei:EntitySmallBusiness" id="Fact_d87d2d320fb64d6aaa9bdc6395ade93a" contextRef="c20220101to20220630" format="ixt-sec:boolballotbox">☒</ix:nonNumeric></div>
</td>
<td style="width: 40%; vertical-align: top;">
<div> Emerging growth company <ix:nonNumeric name="dei:EntityEmergingGrowthCompany" id="Fact_447fdd11935e44ff968bb9de217f993f" contextRef="c20220101to20220630" format="ixt-sec:boolballotbox">☐</ix:nonNumeric></div>
</td>
</tr>
</table>
<div><br />
</div>
<div style="text-align: justify;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section13(a) of the Exchange Act. ☐</div>
<div><br />
</div>
<div style="text-align: justify;">Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes <ix:nonNumeric name="dei:EntityShellCompany" id="Fact_8e6620ac52bb4769aa49db0cc8d7e648" contextRef="c20220101to20220630" format="ixt-sec:boolballotbox">☐</ix:nonNumeric> 
No  ☒</div>
<div style="text-align: justify;"> </div>
<div style="text-align: justify;">Indicate the number of shares outstanding of each of the Registrant’s classes of Common Stock, as of the latest practical date.</div>
<div> </div>
<table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">
<tr>
<td style="width: 30%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center;">Class</div>
</td>
<td style="width: 40%; vertical-align: top;"> </td>
<td style="width: 30%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: right;">Outstanding at July 31, 2022</div>
</td>
</tr>
<tr>
<td style="width: 30%; vertical-align: top;">
<div>Common Stock, $0.01 par value</div>
</td>
<td style="width: 40%; vertical-align: top;"> </td>
<td style="width: 30%; vertical-align: top;">
<div style="text-align: right;"><ix:nonFraction name="dei:EntityCommonStockSharesOutstanding" id="Fact_13bc51a4e74c44888071a6750e55b42a" contextRef="c20220731" unitRef="U001" decimals="INF" scale="0" format="ixt:numdotdecimal">600,090</ix:nonFraction></div>
</td>
</tr>
</table>
<div> <br />
</div>
<div>
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<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
<div>
<div style="text-align: center; font-weight: bold;"><!--Anchor-->MORGAN GROUP HOLDING CO. AND SUBSIDIARY</div>
<div><br />
</div>
<div style="text-align: center; font-weight: bold;"><!--Anchor--><!--Anchor-->INDEX<a id="INDEX"><!--Anchor--></a></div>
<div><br />
</div>
<table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">
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<td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="font-weight: bold;">PART I.</div>
</td>
<td style="width: 82%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="font-weight: bold;">FINANCIAL INFORMATION</div>
</td>
<td style="width: 6%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="text-align: center;"><span style="text-decoration: underline;">Page</span></div>
</td>
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<tr>
<td style="width: 12%; vertical-align: top;"> </td>
<td style="width: 82%; vertical-align: top;"> </td>
<td style="width: 6%; vertical-align: top;"> </td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div>Item 1.</div>
</td>
<td style="width: 82%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div>Unaudited Condensed Consolidated Financial Statements</div>
</td>
<td style="width: 6%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top;"> </td>
<td style="width: 82%; vertical-align: top;"> </td>
<td style="width: 6%; vertical-align: top;"> </td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td>
<td style="width: 82%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="text-indent: -9pt; margin-left: 9pt;"><a href="#FINANCIALCONDITION">Condensed Consolidated Statements of Financial Condition as of June 30, 2022 (unaudited) and December 31, 2021</a></div>
</td>
<td style="width: 6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
<div style="text-align: center; text-indent: -13.1pt; margin-left: 13.1pt;">3<br />
</div>
</td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top;"> </td>
<td style="width: 82%; vertical-align: top; text-indent: -9pt; margin-left: 9pt;"> </td>
<td style="width: 6%; vertical-align: bottom;"> </td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td>
<td style="width: 82%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div><a href="#STATEMENTSOFOPERATIONS">Condensed Consolidated Statements of Operations for the three months and six months ended June 30, 2022 and 2021 (unaudited)</a></div>
</td>
<td style="width: 6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
<div style="text-align: center; text-indent: -13.1pt; margin-left: 13.1pt;">4<br />
</div>
</td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top;"> </td>
<td style="width: 82%; vertical-align: top; text-indent: -9pt; margin-left: 9pt;"> </td>
<td style="width: 6%; vertical-align: bottom;"> </td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td>
<td style="width: 82%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="text-indent: -9pt; margin-left: 9pt;"><a href="#STATEMENTSOFEQUITY">Condensed Consolidated Statements of Equity for the three months and six months ended June 30, 2022 and 2021 (unaudited)</a></div>
</td>
<td style="width: 6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
<div style="text-align: center; text-indent: -13.1pt; margin-left: 13.1pt;">5<br />
</div>
</td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top;"> </td>
<td style="width: 82%; vertical-align: top; text-indent: -9pt; margin-left: 9pt;"> </td>
<td style="width: 6%; vertical-align: bottom;"> </td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td>
<td style="width: 82%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="text-indent: -9pt; margin-left: 9pt;"><a href="#CASHFLOWS">Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2022 and 2021 (unaudited)</a></div>
</td>
<td style="width: 6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
<div style="text-align: center; text-indent: -13.1pt; margin-left: 13.1pt;">6<br />
</div>
</td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top;"> </td>
<td style="width: 82%; vertical-align: top; text-indent: -9pt; margin-left: 9pt;"> </td>
<td style="width: 6%; vertical-align: bottom;"> </td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td>
<td style="width: 82%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="text-indent: -9pt; margin-left: 9pt;"><a href="#NOTES">Notes to Condensed Consolidated Financial Statements (unaudited)</a></div>
</td>
<td style="width: 6%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
<div style="text-align: center; text-indent: -13.1pt; margin-left: 13.1pt;">7<br />
</div>
</td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top;"> </td>
<td style="width: 82%; vertical-align: top; text-indent: -9pt; margin-left: 9pt;"> </td>
<td style="width: 6%; vertical-align: top;"> </td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div>Item 2.</div>
</td>
<td style="width: 82%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="text-indent: -9pt; margin-left: 9pt;"><a href="#ITEM2">Management’s Discussion and Analysis of Financial Condition and Results of Operations</a></div>
</td>
<td style="width: 6%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="text-align: center;">14</div>
</td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top;"> </td>
<td style="width: 82%; vertical-align: top; text-indent: -9pt; margin-left: 9pt;"> </td>
<td style="width: 6%; vertical-align: top;"> </td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div>Item 3.</div>
</td>
<td style="width: 82%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="text-indent: -9pt; margin-left: 9pt;"><a href="#ITEM3.">Quantitative and Qualitative Disclosures About Market Risk</a></div>
</td>
<td style="width: 6%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="text-align: center;">18</div>
</td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top;"> </td>
<td style="width: 82%; vertical-align: top; text-indent: -9pt; margin-left: 9pt;"> </td>
<td style="width: 6%; vertical-align: top;"> </td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div>Item 4.</div>
</td>
<td style="width: 82%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="text-indent: -9pt; margin-left: 9pt;"><a href="#ITEM4.">Controls and Procedures</a></div>
</td>
<td style="width: 6%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="text-align: center;">19</div>
</td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top;"> </td>
<td style="width: 82%; vertical-align: top;"> </td>
<td style="width: 6%; vertical-align: top;"> </td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="font-weight: bold;">PART II.</div>
</td>
<td style="width: 82%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="font-weight: bold;">OTHER INFORMATION *</div>
</td>
<td style="width: 6%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top;"> </td>
<td style="width: 82%; vertical-align: top;"> </td>
<td style="width: 6%; vertical-align: top;"> </td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div>Item 1.</div>
</td>
<td style="width: 82%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div><a href="#ITEM1.">Legal Proceedings</a></div>
</td>
<td style="width: 6%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="text-align: center;">19<br />
</div>
</td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top;"> </td>
<td style="width: 82%; vertical-align: top;"> </td>
<td style="width: 6%; vertical-align: top;"> </td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div>Item 1A.</div>
</td>
<td style="width: 82%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div><a href="#ITEM1A.">Risk Factors</a></div>
</td>
<td style="width: 6%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="text-align: center;">19<br />
</div>
</td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top;"> </td>
<td style="width: 82%; vertical-align: top;"> </td>
<td style="width: 6%; vertical-align: top;"> </td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div>Item 6.</div>
</td>
<td style="width: 82%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div><a href="#ITEM">Exhibits</a></div>
</td>
<td style="width: 6%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: center;">19</td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top;"> </td>
<td style="width: 82%; vertical-align: top;"> </td>
<td style="width: 6%; vertical-align: top;"> </td>
</tr>
<tr>
<td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td>
<td style="width: 82%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div><a href="#SIGNATUR">Signature</a></div>
</td>
<td style="width: 6%; vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="text-align: center;">20<br />
</div>
</td>
</tr>
</table>
<div><br /></div>
<div style="color: rgb(0, 0, 0); margin-left: 18pt;">* Items other than those listed above have been omitted because they are not applicable.</div>
<div> </div>
<div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="DSPFPageBreakArea">
<div style="text-align: center;" class="DSPFPageNumberArea"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" class="DSPFPageNumber">2</span></div>
<div style="page-break-after: always;" class="DSPFPageBreak">
<hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" /></div>
<div style="width: 100%;" class="DSPFPageHeader">
<div><a href="#INDEX"><span style="font-size: 8pt; font-style: italic;">Index</span></a>
<div><br />
</div>
</div>
</div>
</div>
<!--PROfilePageNumberReset%Num%1%%%--> </div>
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
<div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"><!--Anchor-->MORGAN GROUP HOLDING CO. AND SUBSIDIARY</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">CONDENSED CONSOLIDATED
<!--Anchor-->STATEMENTS OF
<!--Anchor--><!--Anchor-->FINANCIAL CONDITION<a id="FINANCIALCONDITION"><!--Anchor--></a><!--Anchor--></div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">UNAUDITED</div>
<div><br />
</div>
<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" class="cfttable">
<tr>
<td valign="bottom" style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; padding-bottom: 2px; white-space: nowrap;"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">June 30,</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2022<br />
</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">December 31,</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2021<br />
</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); font-weight: bold; text-indent: -9pt; margin-left: 9pt;">ASSETS</div>
</td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="2"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="2"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" rowspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" rowspan="1" colspan="2"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" rowspan="1" colspan="2"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; white-space: nowrap;" rowspan="1" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Cash and cash equivalents</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:CashAndCashEquivalentsAtCarryingValue" id="Fact_2526a04f36e8492ba4e5443cd1b91675" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,500,347</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:CashAndCashEquivalentsAtCarryingValue" id="Fact_fc725fab370d4a3d94d0e87461b37a50" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,888,897</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Receivables from brokers and clearing organizations</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:ReceivablesFromBrokersDealersAndClearingOrganizations" id="Fact_b1313c4188bd4405926d701f90826ab4" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">199,173</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:ReceivablesFromBrokersDealersAndClearingOrganizations" id="Fact_c2e3cdbe3f7845e68fc0ccb4f0e35777" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">95,746</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Receivables from affiliates</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:DueFromRelatedParties" id="Fact_68fde1280cfd4457920a2914601f9164" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">4,655</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:DueFromRelatedParties" id="Fact_c3ea3b7078df4a838a1c692f8153f6f0" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">11,715</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Deposits with clearing organizations</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:DepositsWithClearingOrganizationsAndOthersSecurities" id="Fact_89b2be907e4d49e3916da8c503b2455d" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">350,000</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:DepositsWithClearingOrganizationsAndOthersSecurities" id="Fact_bb380fada13d40e0b0d6c4f01639653c" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">350,000</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Income taxes receivable (including deferred tax asset of $<span style="text-indent: 0pt;"><ix:nonFraction name="mghl:DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability" id="Fact_7a0d16ba235446788ab838c51d4880ef" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">0</ix:nonFraction></span>
and $<span style="text-indent: 0pt;"><ix:nonFraction name="mghl:DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability" id="Fact_4b0cfdc7b8b8465396b25f3c0d5da308" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">0</ix:nonFraction></span>, respectively) </div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:IncomeTaxReceivable" id="Fact_f8670d380b1344dcbf4512096eec8caa" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">279,485</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:IncomeTaxReceivable" id="Fact_883a6454399941798c2ec3fea33e5f56" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">275,285</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Fixed assets, net of accumulated depreciation of $<span style="text-indent: 0pt;"><ix:nonFraction name="us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" id="Fact_4a074e8a5d1b4295817c4e8f9ccf9244" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">57,640</ix:nonFraction></span>
and $<span style="text-indent: 0pt;"><ix:nonFraction name="us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" id="Fact_7bf079b8bfd44d389db13569a8356fd6" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">52,169</ix:nonFraction></span> respectively</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentNet" id="Fact_4cb1077ad5fc4870bc770298251e5f43" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">17,232</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentNet" id="Fact_61c7ccb7cc3943a58114c3a5547c4c08" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">22,703</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Other assets</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:OtherAssets" id="Fact_b53d8b9c782e494f8dbc35a0935a4ac1" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">178,048</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:OtherAssets" id="Fact_d25a8ecff76f44c78e34f60cb8c73d87" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">679,524</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 18pt;">Total assets</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:Assets" id="Fact_74a571e4de8d4e39b0bb3582ad090702" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">3,528,940</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:Assets" id="Fact_254eefde24ce4cecb68ea8114e70236a" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">4,323,870</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; width: 76%; background-color: #CCEEFF; white-space: nowrap;"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); font-weight: bold; text-indent: -9pt; margin-left: 9pt;">LIABILITIES AND EQUITY</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Compensation payable</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:DeferredCompensationLiabilityCurrentAndNoncurrent" id="Fact_d0d68e5b70b84cfc8bbc6efec2a7740c" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">207,186</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:DeferredCompensationLiabilityCurrentAndNoncurrent" id="Fact_30a06c7562a244398bf9e941d038369a" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">474,717</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Payable to affiliates</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:DueToRelatedPartiesCurrentAndNoncurrent" id="Fact_34a9df70bc1040b588590f7fdf90755e" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">161</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:DueToRelatedPartiesCurrentAndNoncurrent" id="Fact_e81946a9e7734a0aaf4a052a42989862" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">46</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Income tax payable</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:AccruedIncomeTaxes" id="Fact_8621fdc5ac93404882a15afe3a829aa1" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">46,849</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:AccruedIncomeTaxes" id="Fact_971edcd2bf6f4ead9964fd3c4e064bda" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">48,350</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Accrued expenses and other liabilities</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:AccruedLiabilitiesCurrentAndNoncurrent" id="Fact_b3a6e44616754a01b55aa4132e908500" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">936,944</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:AccruedLiabilitiesCurrentAndNoncurrent" id="Fact_f7373b37cd3740a8be26ce93a35ba0cd" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">764,512</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 18pt;">Total liabilities</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:Liabilities" id="Fact_0748c16641b94667a2a013f316c1ddaf" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">1,191,140</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:Liabilities" id="Fact_d84cdb5994884eff87f418a8c144d1a9" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">1,287,625</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; width: 76%; background-color: #CCEEFF; white-space: nowrap;"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" rowspan="1" style="vertical-align: bottom; width: 76%; white-space: nowrap;"> </td>
<td valign="bottom" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Commitments and contingencies (Note J)<br />
</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"><span style="-sec-ix-hidden:Fact_1349ea67d6954bd799a750a4c0e7f83c"> </span><br />
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"><span style="-sec-ix-hidden:Fact_be25ec2e79b54a2d9d5d0e4e02d94ddb"> </span><br />
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; width: 76%; white-space: nowrap;"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Equity</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Common stock, $<span style="text-indent: 0pt;"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" id="Fact_ecdbc0f1089849809fb9a3a0dc9fe953" contextRef="c20211231" unitRef="U003" decimals="2" scale="0" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" id="Fact_43d417af1b8945a3b1b866c54c08c95d" contextRef="c20220630" unitRef="U003" decimals="2" scale="0" format="ixt:numdotdecimal">0.01</ix:nonFraction></ix:nonFraction></span> par value; <span style="text-indent: 0pt;"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" id="Fact_bd2d74a1ea124b10b65c2f1623c08236" contextRef="c20220630" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">10,000,000</ix:nonFraction></span> and <span style="text-indent: 0pt;"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" id="Fact_e5a95d1b30414bd999ba60810c42e34d" contextRef="c20211231" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">100,000,000</ix:nonFraction></span>
shares authorized, respectively, and <span style="text-indent: 0pt;"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" id="Fact_51c1637dc79548f9b2d2235abae6d292" contextRef="c20220630" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:CommonStockSharesIssued" id="Fact_4defacfbe6be4e2e9245ce464d88a4d9" contextRef="c20220630" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">600,090</ix:nonFraction></ix:nonFraction></span> and <span style="text-indent: 0pt;"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" id="Fact_d30f96eef48942f38cce3095d3bae734" contextRef="c20211231" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:CommonStockSharesIssued" id="Fact_50a3c44c47e244bab9e85da67c9c0c89" contextRef="c20211231" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">600,090</ix:nonFraction></ix:nonFraction></span> issued and outstanding, respectively</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:CommonStockValue" id="Fact_d2de8704eb0d4a4aa1fd2ee37a971908" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">6,001</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:CommonStockValue" id="Fact_79cb6c83f0bd4ee4bb8c5ddf1bfd9196" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">6,001</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Additional paid-in capital</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:AdditionalPaidInCapital" id="Fact_bb7a83389aff4cd29408b3b2760188a7" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">53,886,180</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:AdditionalPaidInCapital" id="Fact_019765840708470caf75e690b26b42e8" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">53,886,180</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Accumulated deficit</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">(<ix:nonFraction name="us-gaap:RetainedEarningsAccumulatedDeficit" id="Fact_283adeb249f840f492b3f9dbafa8dc87" contextRef="c20220630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">51,554,381</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">(<ix:nonFraction name="us-gaap:RetainedEarningsAccumulatedDeficit" id="Fact_7b928ff135c04394a92396f4383f996d" contextRef="c20211231" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">50,855,936</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 18pt;">Total equity</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_03adaebe5a164c7487e13ea9d06d2131" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,337,800</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_0820bb32065048b0ab0029f2a9422095" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">3,036,245</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 18pt;">Total liabilities and equity</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:LiabilitiesAndStockholdersEquity" id="Fact_3c99226691b24432a61a3252bb681107" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">3,528,940</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:LiabilitiesAndStockholdersEquity" id="Fact_cdbc7088f04f4b349fbaf50ea0229b85" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">4,323,870</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
</tr>
</table>
<div><br /></div>
<div style="color: rgb(0, 0, 0);">See accompanying notes.</div>
<div><br />
</div>
<div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="DSPFPageBreakArea">
<div style="text-align: center;" class="DSPFPageNumberArea"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" class="DSPFPageNumber">3</span></div>
<div style="page-break-after:always;" class="DSPFPageBreak">
<hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" /></div>
<div style="width: 100%;" class="DSPFPageHeader">
<div><a href="#INDEX"><span style="font-size: 8pt; font-style: italic;">Index</span></a>
<div><br />
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div>
<div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">MORGAN GROUP HOLDING CO.<br />
</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">CONDENSED CONSOLIDATED
<!--Anchor-->STATEMENTS OF
<!--Anchor-->OPERATIONS<a id="STATEMENTSOFOPERATIONS"><!--Anchor--></a></div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">UNAUDITED</div>
<div><br class="Apple-interchange-newline" /></div>
<table cellspacing="0" cellpadding="0" class="cfttable" style="font-family: &amp; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;">
<tr>
<td valign="bottom" style="vertical-align: top; padding-bottom: 2px;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;"> </td>
<td valign="bottom" colspan="6" style="vertical-align: top; border-bottom: #000000 solid 2px; white-space: nowrap;">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Three Months Ended June 30,</div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;"> </td>
<td valign="bottom" colspan="6" style="vertical-align: top; border-bottom: #000000 solid 2px; white-space: nowrap;">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Six Months Ended June 30,</div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; padding-bottom: 2px;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;"> </td>
<td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2022</div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;"> </td>
<td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2021</div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;"> </td>
<td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2022</div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;"> </td>
<td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2021</div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);">Revenues</div>
</td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%;">
<div style="color: rgb(0, 0, 0); margin-left: 9pt;">Commissions</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:BrokerageCommissionsRevenue" id="Fact_d3c4b73eb5d94426a10e5e371439a263" contextRef="c20220401to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">449,664</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:BrokerageCommissionsRevenue" id="Fact_f71a6cdb3eda40a18b198d2e05d86ff0" contextRef="c20210401to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">566,436</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:BrokerageCommissionsRevenue" id="Fact_17d729ee89c34ac78848525c0b1692be" contextRef="c20220101to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">953,403</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:BrokerageCommissionsRevenue" id="Fact_d2f4d1ead8f74ed394f75718f3e08b85" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">1,222,044</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0); margin-left: 9pt;">Principal transactions</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="mghl:PrincipalTransactions" id="Fact_f392c571dbaf4f8785e9640992a536de" contextRef="c20220401to20220630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">7,416</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);">(<ix:nonFraction name="mghl:PrincipalTransactions" id="Fact_94004ca2b286442cb4651914110f406c" contextRef="c20210401to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">1,899</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="mghl:PrincipalTransactions" id="Fact_d4cc8d5e52444c7e9fc022efb14e1522" contextRef="c20220101to20220630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">7,370</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);">(<ix:nonFraction name="mghl:PrincipalTransactions" id="Fact_ff5c5b5f0ae745bb8de0f679aeb65c8e" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">5,155</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%;">
<div style="color: rgb(0, 0, 0); margin-left: 9pt;">Dividends and interest</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:InterestAndDividendIncomeOperating" id="Fact_46770ed0d5ac41ab836319b2ee106b8e" contextRef="c20220401to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">9,274</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:InterestAndDividendIncomeOperating" id="Fact_2a38b55a6d874e9ca86ee1f8d6cda41d" contextRef="c20210401to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">3,377</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:InterestAndDividendIncomeOperating" id="Fact_c26197cf901d419da9672d937419880a" contextRef="c20220101to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">14,213</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:InterestAndDividendIncomeOperating" id="Fact_da3e48eae55246e98d8e7949c7abd7ee" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">12,363</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0); margin-left: 9pt;">Underwriting fees</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:UnderwritingIncomeLoss" id="Fact_6713a0e0c87f4e61ae07645107a8f4ae" contextRef="c20220401to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:UnderwritingIncomeLoss" id="Fact_02ca33a7dd1b49789653a3301126b22f" contextRef="c20210401to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:UnderwritingIncomeLoss" id="Fact_c240bc8555334ffaa452bd9d28c8877e" contextRef="c20220101to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:UnderwritingIncomeLoss" id="Fact_20186b4f0afe43a7ad612571a39e5607" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">6,311</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; padding-bottom: 2px;">
<div style="color: rgb(0, 0, 0); margin-left: 9pt;">Other revenues</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:RevenueNotFromContractWithCustomerOther" id="Fact_4ccfe5efde0642ad87c4691ff01ce408" contextRef="c20220401to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">8,889</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:RevenueNotFromContractWithCustomerOther" id="Fact_e876794c35fe4933a6f01e3a0ef479b8" contextRef="c20210401to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">16,551</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:RevenueNotFromContractWithCustomerOther" id="Fact_2defbe81c8b34a64b864d6cef28c2407" contextRef="c20220101to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">9,041</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:RevenueNotFromContractWithCustomerOther" id="Fact_a9f51e9935014ce5ab3ffb20563f7fbe" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">27,004</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);">Total revenues</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:Revenues" id="Fact_95245b8b931f4595872f8d3f24c59c1a" contextRef="c20220401to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">475,243</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:Revenues" id="Fact_751e629d64984b4b90d541175de15275" contextRef="c20210401to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">584,465</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:Revenues" id="Fact_48d4e3ee6dd141bbaff82e2b85e1a172" contextRef="c20220101to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">984,027</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:Revenues" id="Fact_0570d623c4bd41998e75e13cc366a9e4" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">1,262,567</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%;">
<div style="color: rgb(0, 0, 0);">Expenses</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0); margin-left: 9pt;">Compensation and related costs</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:LaborAndRelatedExpense" id="Fact_a7b616a51bf54dc1a2b3b15b1eec2871" contextRef="c20220401to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">292,592</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:LaborAndRelatedExpense" id="Fact_0690cb83fbae48a68933701c28e1831a" contextRef="c20210401to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">626,559</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:LaborAndRelatedExpense" id="Fact_f9281637bd434c6ab82fd91baf7c4f3b" contextRef="c20220101to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">620,585</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:LaborAndRelatedExpense" id="Fact_66647dc6a05f4dbd91eb3fd3c2d6d0d8" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">1,314,714</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%;">
<div style="color: rgb(0, 0, 0); margin-left: 9pt;">Clearing charges</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:ClearanceFees" id="Fact_44c4e75fdf8849d7bf885c0fa8002539" contextRef="c20220401to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">228,361</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:ClearanceFees" id="Fact_992c46babd67463a95fa8983591bdd59" contextRef="c20210401to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">164,479</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:ClearanceFees" id="Fact_7f9953ec129b44349906c4f6e58dc4eb" contextRef="c20220101to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">458,010</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:ClearanceFees" id="Fact_ab6051da062943e9b8383fa0e15bb401" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">349,505</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0); margin-left: 9pt;">General and administrative</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:GeneralAndAdministrativeExpense" id="Fact_b072797ba7ec40ee900503e8db713c9e" contextRef="c20220401to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">237,390</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:GeneralAndAdministrativeExpense" id="Fact_c828ef6cde304a0bbcd00622d0194b4f" contextRef="c20210401to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">429,663</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:GeneralAndAdministrativeExpense" id="Fact_d5b5e1c380b44eb19d2a4743b766ddb9" contextRef="c20220101to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">462,397</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:GeneralAndAdministrativeExpense" id="Fact_717b87c30107413488d650ee2faf13a9" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">718,415</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; padding-bottom: 2px;">
<div style="color: rgb(0, 0, 0); margin-left: 9pt;">Occupancy and equipment</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:OccupancyNet" id="Fact_3ae6ff8158f3403792090a7bb1315e8e" contextRef="c20220401to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">68,232</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:OccupancyNet" id="Fact_c7e46cfeaecb49869846dbdb6e0bbd49" contextRef="c20210401to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">84,659</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:OccupancyNet" id="Fact_8d2ed398f8c04350a4740253370520f1" contextRef="c20220101to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">141,480</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:OccupancyNet" id="Fact_354668147e4d42398a7b67276349e205" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">163,223</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);">Total expenses</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:OperatingExpenses" id="Fact_b067d3f7e25d4ef2b3634f299ac23141" contextRef="c20220401to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">826,575</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:OperatingExpenses" id="Fact_3b4c677593b04021af00b1b9b4ebc0f7" contextRef="c20210401to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">1,305,360</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:OperatingExpenses" id="Fact_d96a2f7bf9164f4db0465a596a6963db" contextRef="c20220101to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">1,682,472</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:OperatingExpenses" id="Fact_f04b0a72b2694e2989849080088e7671" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,545,857</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%;">
<div style="color: rgb(0, 0, 0);">Loss before income tax benefit</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
<div style="color: rgb(0, 0, 0);">(<ix:nonFraction name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" id="Fact_3fc6215759da4e11ae40fec94fac1209" contextRef="c20220401to20220630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">351,332</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
<div style="color: rgb(0, 0, 0);">(<ix:nonFraction name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" id="Fact_0220389e98cd4b6598aaf2d62c115827" contextRef="c20210401to20210630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">720,895</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
<div style="color: rgb(0, 0, 0);">(<ix:nonFraction name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" id="Fact_20980cde09294f038b6ecbaf59d6b432" contextRef="c20220101to20220630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">698,445</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
<div style="color: rgb(0, 0, 0);">(<ix:nonFraction name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" id="Fact_113eb6eb3a554890b08de6658c734433" contextRef="c20210101to20210630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">1,283,290</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);">Income tax benefit</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:IncomeTaxExpenseBenefit" id="Fact_6bd3ae8cac1544fe959f86ef8440a5d7" contextRef="c20220401to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:IncomeTaxExpenseBenefit" id="Fact_e2449989c0ff41f4a7171e0e3521aa27" contextRef="c20210401to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:IncomeTaxExpenseBenefit" id="Fact_d30cb0ba26be4061aa604aaa28419aec" contextRef="c20220101to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:IncomeTaxExpenseBenefit" id="Fact_55fc9c587be8412ba2409a46deb0bf80" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; padding-bottom: 4px;">
<div style="color: rgb(0, 0, 0);">Net loss</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);">(<ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_a6e887cc2cc2499a9305a3b750d70894" contextRef="c20220401to20220630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">351,332</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);">(<ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_878ad4a1840c450591acbbb90a0ccffa" contextRef="c20210401to20210630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">720,895</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);">(<ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_6ab89b79999343ff99dab8fb810cb083" contextRef="c20220101to20220630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">698,445</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);">(<ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_c15bcca7edf94912b27ae9871e9443de" contextRef="c20210101to20210630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">1,283,290</ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%;">
<div style="color: rgb(0, 0, 0);">Net loss per share</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);">Basic and diluted</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);">(<ix:nonFraction name="us-gaap:EarningsPerShareBasic" id="Fact_cf80e5400ae84beba9b328652c38d25e" contextRef="c20220401to20220630" unitRef="U003" decimals="2" sign="-" scale="0" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:EarningsPerShareDiluted" id="Fact_63a0df7fc1344662ad08ee898994cd38" contextRef="c20220401to20220630" unitRef="U003" decimals="2" sign="-" scale="0" format="ixt:numdotdecimal">0.59</ix:nonFraction></ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);">(<ix:nonFraction name="us-gaap:EarningsPerShareDiluted" id="Fact_423667ee4c9b4cce809c4920a022efc3" contextRef="c20210401to20210630" unitRef="U003" decimals="2" sign="-" scale="0" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:EarningsPerShareBasic" id="Fact_d9ca8a784a5643b6bb599554f9bacf32" contextRef="c20210401to20210630" unitRef="U003" decimals="2" sign="-" scale="0" format="ixt:numdotdecimal">1.20</ix:nonFraction></ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);">(<ix:nonFraction name="us-gaap:EarningsPerShareDiluted" id="Fact_f289edd79c61461fbab417b5ef8b823f" contextRef="c20220101to20220630" unitRef="U003" decimals="2" sign="-" scale="0" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:EarningsPerShareBasic" id="Fact_28ea96271e6546a8a3ba15df42d4ba34" contextRef="c20220101to20220630" unitRef="U003" decimals="2" sign="-" scale="0" format="ixt:numdotdecimal">1.16</ix:nonFraction></ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);">(<ix:nonFraction name="us-gaap:EarningsPerShareDiluted" id="Fact_ffc66a7e43bc4f35816a5fa44b174ae0" contextRef="c20210101to20210630" unitRef="U003" decimals="2" sign="-" scale="0" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:EarningsPerShareBasic" id="Fact_9fcd61bd354e4f08a522c43802dd6afd" contextRef="c20210101to20210630" unitRef="U003" decimals="2" sign="-" scale="0" format="ixt:numdotdecimal">2.14</ix:nonFraction></ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;"> </td>
</tr>
<tr>
<td valign="bottom" colspan="4" style="vertical-align: top; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0);">Weighted average shares outstanding:</div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; padding-bottom: 4px;">
<div style="color: rgb(0, 0, 0);">Basic and diluted</div>
</td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" id="Fact_568e94af776b4291bcac9dcd9ab2a9c8" contextRef="c20220401to20220630" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" id="Fact_541c0ee2cd7e45d5b4d0b91d80d56b36" contextRef="c20220401to20220630" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">600,090</ix:nonFraction></ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" id="Fact_657602e38a3c400b8e5e708f76518a31" contextRef="c20210401to20210630" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" id="Fact_dfd449a54db64e859dde086ab4021b7e" contextRef="c20210401to20210630" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">600,090</ix:nonFraction></ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" id="Fact_6fb23b9aa46e4666a036c0ab209ac6ef" contextRef="c20220101to20220630" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" id="Fact_0210da0208bc4d9fa9d9d06f2d8b464c" contextRef="c20220101to20220630" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">600,090</ix:nonFraction></ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;"> </td>
<td valign="bottom" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;"> </td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);"> </td>
<td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" id="Fact_ed6c5fb0539f40ec97d8f2a6cdd9e38e" contextRef="c20210101to20210630" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" id="Fact_a6c5c11015af4784abfc4ad7fe2d73e8" contextRef="c20210101to20210630" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">600,090</ix:nonFraction></ix:nonFraction></div>
</td>
<td valign="bottom" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;"> </td>
</tr>
</table>
<div><br />
</div>
<div>
<div style="color: rgb(0, 0, 0);">See accompanying notes.</div>
<div style="color: rgb(0, 0, 0);"> <br />
</div>
</div>
<div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="DSPFPageBreakArea">
<div style="text-align: center;" class="DSPFPageNumberArea"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" class="DSPFPageNumber">4</span></div>
<div style="page-break-after:always;" class="DSPFPageBreak">
<hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" /></div>
<div style="width: 100%;" class="DSPFPageHeader">
<div><a href="#INDEX"><span style="font-size: 8pt; font-style: italic;">Index</span></a>
<div><br />
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div>
<div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">MORGAN GROUP HOLDING CO.<br />
</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">CONDENSED CONSOLIDATED STATEMENTS OF
<!--Anchor-->EQUITY<a id="STATEMENTSOFEQUITY"><!--Anchor--></a></div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">UNAUDITED</div>
<div><br />
</div>
<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" class="cfttable">
<tr>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0);">Shares</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0);">Common</div>
<div style="text-align: center; color: rgb(0, 0, 0);">Stock</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0);">Additional</div>
<div style="text-align: center; color: rgb(0, 0, 0);">Paid-in</div>
<div style="text-align: center; color: rgb(0, 0, 0);">Capital</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0);">Accumulated</div>
<div style="text-align: center; color: rgb(0, 0, 0);">Deficit</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0);">Total</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1">Balance at December 31, 2020</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" id="Fact_8ad0f73caf34464c93dcce34b75450ca" contextRef="c20201231_StatementEquityComponentsAxis_CommonStockMember" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">600,090</ix:nonFraction><br />
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1">$ <br />
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_9bfbc41c95624e758557abb610a4409a" contextRef="c20201231_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">6,001</ix:nonFraction><br />
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1">$ <br />
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_c1c64b31aa1545a0a2f7621f443f8b98" contextRef="c20201231_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">53,886,180</ix:nonFraction><br />
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1">$ <br />
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1">(<ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_5c9242c4d7164da4a618980b1b42679c" contextRef="c20201231_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">49,284,876</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1">)</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1">$ <br />
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_134d8906a6b445cfb0914146836df6e6" contextRef="c20201231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">4,607,305</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" rowspan="1" colspan="1"><br />
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 2px; white-space: nowrap;" rowspan="1">Net loss</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1">-</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"><ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_e48fa82d3a014829a5f98866e1fdd54a" contextRef="c20210101to20210331_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"><ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_2b2fb4fc6dc44b6b84eaccab254c57ea" contextRef="c20210101to20210331_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1">(<ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_6da68ed2fa2c435babcd9b63ac02f135" contextRef="c20210101to20210331_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">562,395</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1">)</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1">(<ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_6c906bd5510b4c16a32341f8b9850f82" contextRef="c20210101to20210331" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">562,395</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1">)</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Balance at March 31, 2021</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" id="Fact_65b3ec4ab4104761958941818ac33846" contextRef="c20210331_StatementEquityComponentsAxis_CommonStockMember" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">600,090</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_27682c670acc4d2aa58914fc1c6f34e3" contextRef="c20210331_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">6,001</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_4c9ac9d893224e43be8799622ac245a4" contextRef="c20210331_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">53,886,180</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">(<ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_62e5eabe6f7b4dca800c556b5fcd73ca" contextRef="c20210331_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">49,847,271</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">)</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_8ba13621375c4ba3b92dce2ef2103143" contextRef="c20210331" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">4,044,910</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 2px; white-space: nowrap;" rowspan="1">Net loss</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1">-<br />
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"><ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_7df92ea086f6404e86906cdf5fb01145" contextRef="c20210401to20210630_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction><br />
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"><ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_bd92cd9ea2c64de8b916888203e2cab6" contextRef="c20210401to20210630_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction><br />
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1">(<ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_9eecdcb84540431ba3d083adc75cd64e" contextRef="c20210401to20210630_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">720,895</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1">)</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1">(<ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_bd79f288da0746a1af4f4d6e99052397" contextRef="c20210401to20210630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">720,895</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1">)</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Balance at June 30, 2021</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" id="Fact_ccd293322c604ff49af50e12819fed5d" contextRef="c20210630_StatementEquityComponentsAxis_CommonStockMember" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">600,090</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_cac4c4e7b31e4323989e46513fa812aa" contextRef="c20210630_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">6,001</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_542fb9d5aca9490aa7a115ec66e62f3e" contextRef="c20210630_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">53,886,180</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">(<ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_26e0ffcfd6a84dce98f6cfd00e8f6420" contextRef="c20210630_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">50,568,166</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">)</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_ab758abcd281460bbae1f8d814f0f4c9" contextRef="c20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">3,324,015</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
</table>
<div><br />
</div>
<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" class="cfttable">
<tr>
<td valign="bottom" style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; padding-bottom: 2px; white-space: nowrap;"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0);">Shares</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0);">Common</div>
<div style="text-align: center; color: rgb(0, 0, 0);">Stock</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0);">Additional</div>
<div style="text-align: center; color: rgb(0, 0, 0);">Paid-in</div>
<div style="text-align: center; color: rgb(0, 0, 0);">Capital</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0);">Accumulated</div>
<div style="text-align: center; color: rgb(0, 0, 0);">Deficit</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0);">Total</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Balance at December 31, 2021</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" id="Fact_85ee677d47804fb89b51ccdc27f81ddb" contextRef="c20211231_StatementEquityComponentsAxis_CommonStockMember" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">600,090</ix:nonFraction><br />
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">$</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_83f13b586443413a854503d5e0eb2a00" contextRef="c20211231_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">6,001</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">$</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_2aa2c91f424c42e5a08b7277d0b07aaa" contextRef="c20211231_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">53,886,180</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">$</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">(<ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_af983e123dff4465b9271381ddde6b6d" contextRef="c20211231_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">50,855,936</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">)</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">$</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_4cce9a8471b24203acfd508c95976b84" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">3,036,245</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 2px; white-space: nowrap;" rowspan="1">Net loss</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1">-</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"><ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_0d5070bded6a44889edbb976fa2a0f9d" contextRef="c20220101to20220331_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"><ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_e1afee6e8f3540f29095e0a1d3e785b8" contextRef="c20220101to20220331_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1">(<ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_a0c18b26b1d44214b760c8ed709926bd" contextRef="c20220101to20220331_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">347,113</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1">)</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1">(<ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_2fbd93a818d64fe2a6dea0f637380343" contextRef="c20220101to20220331" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">347,113</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1">)</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Balance at March 31, 2022</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" id="Fact_748176fb6ed84e5f9ad047a61b2349ae" contextRef="c20220331_StatementEquityComponentsAxis_CommonStockMember" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">600,090</ix:nonFraction><br />
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_6d1319f012a547df83d9dc93cb5fc10e" contextRef="c20220331_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">6,001</ix:nonFraction><br />
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_6060df6bffb44ef59098e58163222387" contextRef="c20220331_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">53,886,180</ix:nonFraction><br />
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">(<ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_70a844b84d8945d4ae08e9dc7b0a2c38" contextRef="c20220331_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">51,203,049</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">)</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_56819d414c954841b5eca235ec35523f" contextRef="c20220331" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,689,132</ix:nonFraction><br />
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 2px; white-space: nowrap;" rowspan="1">Net loss</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1">-<br />
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"><ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_543045228b684dc4a38e998995d92ce1" contextRef="c20220401to20220630_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction><br />
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"><ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_4fb85d3c5dc34950b37fb332b27ba026" contextRef="c20220401to20220630_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction><br />
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1">(<ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_56dbbd51809d419998a0fe74dcbdbcd6" contextRef="c20220401to20220630_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">351,332</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1">)</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" rowspan="1" colspan="1">(<ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_65711011fd3547f4983ed9d090425480" contextRef="c20220401to20220630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">351,332</ix:nonFraction></td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" rowspan="1" colspan="1">)</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Balance at June 30, 2022</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" id="Fact_8c39508fe2c541038f22c3a81f15c8e2" contextRef="c20220630_StatementEquityComponentsAxis_CommonStockMember" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">600,090</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_ab4e213fd7584a988322472238c4de4b" contextRef="c20220630_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">6,001</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_8aaf7428bc2c4af1ac1b652e2e397847" contextRef="c20220630_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">53,886,180</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">(<ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_43a958cfe59646e28ebc40f4692f63b3" contextRef="c20220630_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">51,554,381</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:StockholdersEquity" id="Fact_061f1439a5dc4e4396626ab5beba9e2d" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,337,800</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
</table>
<div><br />
</div>
<div style="color: rgb(0, 0, 0);">See accompanying notes.</div>
<div><br />
</div>
<div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="DSPFPageBreakArea">
<div style="text-align: center;" class="DSPFPageNumberArea"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" class="DSPFPageNumber">5</span></div>
<div style="page-break-after:always;" class="DSPFPageBreak">
<hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" /></div>
<div style="width: 100%;" class="DSPFPageHeader">
<div><a href="#INDEX"><span style="font-size: 8pt; font-style: italic;">Index</span></a>
<div><br />
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
<div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"><!--Anchor-->MORGAN GROUP HOLDING CO. AND SUBSIDIARY</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">CONDENSED CONSOLIDATED
<!--Anchor-->STATEMENTS OF
<!--Anchor--><!--Anchor-->CASH FLOWS<a id="CASHFLOWS"><!--Anchor--></a></div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">UNAUDITED</div>
<div><br />
</div>
<div>
<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" class="cfttable">
<tr>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;">
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="6">
<div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Six
months ended June 30,</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;">
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"> 2022<br />
</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">2021<br />
</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Cash flows from operating activities:</div>
</td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="2"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="2"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; white-space: nowrap;">
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Net loss</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(<ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_d6289606fbd8479eb7e671f52407b913" contextRef="c20220101to20220630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">698,445</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">)</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(<ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_e0f31b56453f401ca305948e8fd79077" contextRef="c20210101to20210630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">1,283,290</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-left: 9pt;">Adjustments to reconcile net loss to net cash used in operating activities:</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; white-space: nowrap;">
<div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-left: 9pt;">Depreciation</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:Depreciation" id="Fact_7ce7492ff0d846798d0dc065f11baaab" contextRef="c20220101to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">5,472</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:Depreciation" id="Fact_d8a3c5aef4dc4d0583ee6f4b21704e74" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">5,630</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(Increase)/decrease in assets:</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; white-space: nowrap;">
<div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-left: 9pt;">Receivables from brokers and clearing organizations</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInBrokerageReceivables" id="Fact_97a6b02029bf4947b1a4beab3aa8b6a2" contextRef="c20220101to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">103,427</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">)</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInBrokerageReceivables" id="Fact_7c3a0292ca1a4c13a6ef2366e772814d" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">48,313</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-left: 9pt;">Receivables from affiliates</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsReceivableRelatedParties" id="Fact_5f4d03029e004b7b9a8546ccbe89d379" contextRef="c20220101to20220630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">7,061</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsReceivableRelatedParties" id="Fact_9da4b10996344c99800fffd6bd8b79fd" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,282</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; white-space: nowrap;">
<div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-left: 9pt;">Income taxes receivable</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInIncomeTaxesReceivable" id="Fact_3371630063c348ea913fdcf5b48d6261" contextRef="c20220101to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">4,200</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">)</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:IncreaseDecreaseInIncomeTaxesReceivable" id="Fact_c4fe01d2a4804b718d3d5906bda5279f" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-left: 9pt;">Other assets</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:IncreaseDecreaseInOtherOperatingAssets" id="Fact_248d13f5ca144287be38981186a11589" contextRef="c20220101to20220630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">501,475</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInOtherOperatingAssets" id="Fact_643f00e0330746eba0bf36d971ea0f2d" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">38,589</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; white-space: nowrap;">
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Increase/(decrease) in liabilities:</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-left: 9pt;">Compensation payable</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInEmployeeRelatedLiabilities" id="Fact_eb4ae1cb18894ee0b2897f15d1ef77e7" contextRef="c20220101to20220630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">267,531</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">)</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInEmployeeRelatedLiabilities" id="Fact_d275a2b6b5974847b9f3c8d5853fcffe" contextRef="c20210101to20210630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">224,655</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; white-space: nowrap;">
<div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-left: 9pt;">Payable to affiliates</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsPayableRelatedParties" id="Fact_0f3ec12be398435a98247b89985100d4" contextRef="c20220101to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">113</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsPayableRelatedParties" id="Fact_c6a252785b9f4271ac66fd9d0b27c045" contextRef="c20210101to20210630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">29,348</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-left: 9pt;">Income taxes payable</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInAccruedIncomeTaxesPayable" id="Fact_ceec7e64a1724e3596a94675632fd354" contextRef="c20220101to20220630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">1,501</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">)</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:IncreaseDecreaseInAccruedIncomeTaxesPayable" id="Fact_5f485a925e484735be7ad4e961934b3b" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; white-space: nowrap;">
<div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-left: 9pt;">Accrued expenses and other liabilities</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:IncreaseDecreaseInAccruedLiabilities" id="Fact_853d0f962c9d45b6b072c5176951207f" contextRef="c20220101to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">172,433</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:IncreaseDecreaseInAccruedLiabilities" id="Fact_705f0812b626456e931469ed630fc468" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">161,293</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-left: 9pt;">Total adjustments</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities" id="Fact_b2ac60fa5450495bb1163726161490ab" contextRef="c20220101to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">309,895</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(<ix:nonFraction name="us-gaap:AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities" id="Fact_e9ce043bd3944033a9a592e5e8ec6c38" contextRef="c20210101to20210630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">176,264</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; white-space: nowrap;">
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Net cash used in operating activities</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(<ix:nonFraction name="us-gaap:NetCashProvidedByUsedInOperatingActivities" id="Fact_3ec7b8ae27084d5eacefe2623e466005" contextRef="c20220101to20220630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">388,550</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">)</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(<ix:nonFraction name="us-gaap:NetCashProvidedByUsedInOperatingActivities" id="Fact_ccba97b091f44fe38e05f1be64cbd992" contextRef="c20210101to20210630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">1,459,554</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; white-space: nowrap;">
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Net decrease in cash, cash equivalents, and restricted cash</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(<ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" id="Fact_f3f4f2d48828431d87074fb4d6a99e71" contextRef="c20220101to20220630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">388,550</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">)</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(<ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" id="Fact_92605bb6f6ed4d14a7764e4bd3f9ad5f" contextRef="c20210101to20210630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">1,459,554</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Cash, cash equivalents, and restricted cash at beginning of period</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" id="Fact_52bd48cdfc41453ca3ca6939ffb9b16b" contextRef="c20211231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">3,238,897</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" id="Fact_91285f7ccb6c4c0f9fa5cd65d54ba47a" contextRef="c20201231" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">4,946,403</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; white-space: nowrap;">
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Cash, cash equivalents, and restricted cash at end of period</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" id="Fact_b7d81a4fe30848fe9e1851de87fc5cf0" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,850,347</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" id="Fact_325c3a66b56a491ab30f89e6bae20957" contextRef="c20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">3,486,849</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; white-space: nowrap;">
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Reconciliation to cash, cash equivalents, and restricted cash:</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Cash and cash equivalents</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:CashAndCashEquivalentsAtCarryingValue" id="Fact_39fff022329a48479d82663ebf4cac02" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,500,347</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:CashAndCashEquivalentsAtCarryingValue" id="Fact_e7385210f8784dec82d864a2eec60f3a" contextRef="c20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">3,286,849</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; white-space: nowrap;">
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Restricted cash: deposits with clearing organizations</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:RestrictedCash" id="Fact_4bbfa96c2ebb41c4b9a87a892a7e331e" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">350,000</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:RestrictedCash" id="Fact_16d8e37163d34a17865262240ce3dda0" contextRef="c20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">200,000</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Cash, cash equivalents, and restricted cash</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" id="Fact_d9176e560d6548ada29611751cbb8c92" contextRef="c20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,850,347</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" id="Fact_e7df4b9faa114b71909dfda1b4890041" contextRef="c20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">3,486,849</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
</tr>
</table>
</div>
<div><br />
</div>
<div>
<div>
<div>
<div style="color: rgb(0, 0, 0);">See accompanying notes.</div>
</div>
</div>
</div>
<div><br />
</div>
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<div style="width: 100%;" class="DSPFPageHeader">
<div><a href="#INDEX"><span style="font-size: 8pt; font-style: italic;">Index</span></a>
<div><br />
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
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<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
<div>
<div style="text-align: center; font-weight: bold;"><!--Anchor-->MORGAN GROUP HOLDING CO. AND SUBSIDIARIES</div>
<div style="text-align: center; font-weight: bold;"><!--Anchor--><!--Anchor--><!--Anchor--><a id="NOTES"><!--Anchor--></a>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>
<div style="text-align: center; font-weight: bold;">June 30, 2022<br />
</div>
<div style="text-align: center; font-weight: bold;">(Unaudited)</div>
<div><br />
</div>
<ix:nonNumeric name="us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock" id="Text_c45d1811fe5e462a83d8c9d06a271aea" contextRef="c20220101to20220630" escape="true" continuedAt="Text_70ede947ba6f4f44a33dd4a1d565f44c1">
<div style="color: rgb(35, 31, 32); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Organization and Business
Description</div>
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<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
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<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
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<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
</div>
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<ix:continuation id="Text_70ede947ba6f4f44a33dd4a1d565f44c4" continuedAt="Text_70ede947ba6f4f44a33dd4a1d565f44c5"><ix:continuation id="Text_626054fb60d943e9be688371f981f1051" continuedAt="Text_626054fb60d943e9be688371f981f1052">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Morgan Group Holding Co. (the
“Company,” “Morgan Group,” or “Morgan”) was incorporated in November 2001 as a Delaware corporation to serve as a holding company which seeks acquisitions as part of its strategic alternatives. Prior to the October 31, 2019 merger with
G.research, LLC (“G.research”), discussed below, Morgan Group had no operating companies.</div>
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<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
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<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
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<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
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<ix:continuation id="Text_70ede947ba6f4f44a33dd4a1d565f44c8" continuedAt="Text_70ede947ba6f4f44a33dd4a1d565f44c9"><ix:continuation id="Text_626054fb60d943e9be688371f981f1055" continuedAt="Text_626054fb60d943e9be688371f981f1056">
<div style="text-align: justify; color: rgb(0, 0, 0);"><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company acquired
G.research from Associated Capital Group, Inc. (“AC”), an affiliate of the Company, on October 31, 2019, in exchange for issuing <ix:nonFraction name="us-gaap:BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued" id="Fact_e4ac3b8d738449f382583b0f2eb9ce7d" contextRef="c20191031to20191031_BusinessAcquisitionAxis_GResearchLLCMember_CounterpartyNameAxis_AssociatedCapitalGroupMember" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">500,000</ix:nonFraction>
shares of the Company’s common stock to AC (the “Merger”). Accordingly, G.research became a wholly owned subsidiary of the Company. Prior to the transaction, G.research was a wholly-owned subsidiary of Institutional Services holdings,
LLC, which, in turn, was a wholly-owned subsidiary of AC. After the transaction, AC had an <ix:nonFraction name="us-gaap:MinorityInterestOwnershipPercentageByParent" id="Fact_9d4ebed28f694f619569ff0ad9d21b8a" contextRef="c20191031_BusinessAcquisitionAxis_GResearchLLCMember_CounterpartyNameAxis_AssociatedCapitalGroupMember_OwnershipAxis_MorganGroupIncMember" unitRef="U004" decimals="3" scale="-2" format="ixt:numdotdecimal">83.3</ix:nonFraction>% ownership interest in the
Company. As a result of this common ownership, the transaction was treated as a combination between entities under common control that led to a change in the reporting entity. The recognized assets and liabilities were transferred at
their carrying amounts at the date of the transaction.<br />
</span> </div>
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<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
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<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
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<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
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<ix:continuation id="Text_70ede947ba6f4f44a33dd4a1d565f44c12" continuedAt="Text_70ede947ba6f4f44a33dd4a1d565f44c13"><ix:continuation id="Text_626054fb60d943e9be688371f981f1059" continuedAt="Text_626054fb60d943e9be688371f981f10510">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">On March 16, 2020, AC’s Board of
Directors approved the spin-off of the Company to AC’s shareholders. Upon execution of the spin-off on August 5, 2020, AC distributed to its shareholders on a pro rata basis the <ix:nonFraction name="mghl:StockIssuedDuringPeriodSharesSpinOff" id="Fact_80fdea9612ae45869abd4ebb2b031947" contextRef="c20200805to20200805_CounterpartyNameAxis_AssociatedCapitalGroupMember" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">500,000</ix:nonFraction> shares of Morgan that AC owned.</div>
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<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
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<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
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<ix:continuation id="Text_70ede947ba6f4f44a33dd4a1d565f44c16" continuedAt="Text_70ede947ba6f4f44a33dd4a1d565f44c17"><ix:continuation id="Text_626054fb60d943e9be688371f981f10513" continuedAt="Text_626054fb60d943e9be688371f981f10514">
<div style="color: rgb(0, 0, 0); text-align: justify; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">On May 5, 2020, the Morgan Group
board approved a reverse stock split of the issued and outstanding shares of their common stock, par value $<ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" id="Fact_c55ece39260a46a4b72194996fc7d2b0" contextRef="c20200610" unitRef="U003" decimals="2" scale="0" format="ixt:numdotdecimal">0.01</ix:nonFraction> per share, in
a ratio of <ix:nonFraction name="us-gaap:StockholdersEquityNoteStockSplitConversionRatio1" id="Fact_4796e9c14b114878a1a529e6e283bd9f" contextRef="c20200610to20200610" unitRef="U004" decimals="2" scale="-2" format="ixt:numdotdecimal">1</ix:nonFraction>-for-100 that was effective on June 10, 2020.</div>
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<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
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<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
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<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
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<ix:continuation id="Text_70ede947ba6f4f44a33dd4a1d565f44c20" continuedAt="Text_70ede947ba6f4f44a33dd4a1d565f44c21"><ix:continuation id="Text_626054fb60d943e9be688371f981f10517" continuedAt="Text_626054fb60d943e9be688371f981f10518">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">G.research is a broker-dealer
registered with the Securities and Exchange Commission (the “SEC”) and is regulated by the Financial Industry Regulatory Authority (“FINRA”).</div>
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<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
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<ix:continuation id="Text_70ede947ba6f4f44a33dd4a1d565f44c23" continuedAt="Text_70ede947ba6f4f44a33dd4a1d565f44c24"><ix:continuation id="Text_626054fb60d943e9be688371f981f10520" continuedAt="Text_626054fb60d943e9be688371f981f10521">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">The Company provides institutional investors and investment partnerships with investment research with a particular focus on small-cap and mid-cap companies. The team of sell-side
analysts follows industry sectors on a global basis and performs fundamental security analysis using a Private Market Value (“PMV”) framework. PMV investing is a disciplined, research-driven approach based on security analysis. In this
process, the analyst selects stocks whose intrinsic value, based on the analyst’s estimate of current asset value and future growth and earnings power, is significantly different from the public market value as reflected in the public
market. PMV is defined as the price an informed industrial buyer would be likely to pay to acquire the business. The research focuses on company fundamentals, cash flow statistics, and catalysts that will help realize returns.</span> </div>
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</div>
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<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
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<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company generates brokerage
commission revenues from securities transactions executed on an agency basis on behalf of institutional clients and mutual funds, private wealth management clients, and retail customers of affiliated companies. The Company generates
revenue from syndicated underwriting activities. It primarily participates in the offerings of certain closed-end funds advised by Gabelli Funds, LLC, a wholly-owned subsidiary of GAMCO Investors, Inc. (“GBL”), an affiliate. The Company
also earns investment income generated from its proprietary trading activities.</div>
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</span> </div>
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<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
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<ix:continuation id="Text_70ede947ba6f4f44a33dd4a1d565f44c30" continuedAt="Text_70ede947ba6f4f44a33dd4a1d565f44c31"><ix:continuation id="Text_626054fb60d943e9be688371f981f10527" continuedAt="Text_626054fb60d943e9be688371f981f10528">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company acts as an introducing
broker, and all securities transactions for the Company and its customers are cleared through and carried by <ix:nonFraction name="mghl:NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared" id="Fact_9d8c1347b56e445bae29ab4608266b3f" contextRef="c20220101to20220630" unitRef="U005" decimals="INF" scale="0" format="ixt-sec:numwordsen">three</ix:nonFraction> New York
Stock Exchange (“NYSE”) member firms on a fully disclosed basis. The Company has Proprietary Accounts of Introducing Brokers (“PAIB”) agreements with these firms. Accordingly, open customer transactions are not reflected in the
accompanying Condensed Consolidated Statement of Financial Condition. The Company is exposed to credit losses on these open transactions in the event of nonperformance by its customers, pursuant to conditions of its clearing agreements
with its clearing brokers. This exposure is mitigated by the clearing brokers’ policy of monitoring the collateral and credit of the counterparties until the transaction is completed.</div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_70ede947ba6f4f44a33dd4a1d565f44c31" continuedAt="Text_70ede947ba6f4f44a33dd4a1d565f44c32"><ix:continuation id="Text_626054fb60d943e9be688371f981f10528" continuedAt="Text_626054fb60d943e9be688371f981f10529">
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br />
</span></div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_70ede947ba6f4f44a33dd4a1d565f44c32"><ix:continuation id="Text_626054fb60d943e9be688371f981f10529">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s principal market is
in the United States (“U.S”).</div>
</ix:continuation></ix:continuation>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br />
</div>
<div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="DSPFPageBreakArea">
<div style="text-align: center;" class="DSPFPageNumberArea"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" class="DSPFPageNumber">7</span></div>
<div style="page-break-after: always;" class="DSPFPageBreak">
<hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" /></div>
<div style="width: 100%;" class="DSPFPageHeader">
<div><a href="#INDEX"><span style="font-size: 8pt; font-style: italic;">Index</span></a>
<div><br />
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
<div>
<ix:nonNumeric name="us-gaap:SignificantAccountingPoliciesTextBlock" id="Text_8b2e20061fc84204ac7f88c7745a5db5" contextRef="c20220101to20220630" escape="true" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c9311">
<div style="text-align: justify; color: rgb(35, 31, 32); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">1.
Significant Accounting Policies</div>
</ix:nonNumeric>
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<div><br />
</div>
</ix:continuation>
<ix:nonNumeric name="us-gaap:BasisOfAccountingPolicyPolicyTextBlock" id="Text_8d9d94c8fe85421ea58db187745e9859" contextRef="c20220101to20220630" escape="true" continuedAt="Text_d0e46aea53da4bd79bec3edbaacc2b051"><ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c9312" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c9313">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;"><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Basis of Presentation</span></div>
</ix:continuation></ix:nonNumeric>
<ix:continuation id="Text_d0e46aea53da4bd79bec3edbaacc2b051" continuedAt="Text_d0e46aea53da4bd79bec3edbaacc2b052"><ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c9313" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c9314">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_d0e46aea53da4bd79bec3edbaacc2b052" continuedAt="Text_d0e46aea53da4bd79bec3edbaacc2b053"><ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c9314" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c9315">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_d0e46aea53da4bd79bec3edbaacc2b053" continuedAt="Text_d0e46aea53da4bd79bec3edbaacc2b054"><ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c9315" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c9316">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_d0e46aea53da4bd79bec3edbaacc2b054" continuedAt="Text_d0e46aea53da4bd79bec3edbaacc2b055"><ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c9316" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c9317">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The unaudited interim condensed
consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Rule 10-01 of
Regulation S-X. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements
reflect all adjustments, which are of a normal recurring nature, necessary for the fair presentation of financial position, results of operations, and cash flows of Morgan for the interim periods presented and are not necessarily
indicative of a full year’s results.</div>
</ix:continuation></ix:continuation>
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<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_d0e46aea53da4bd79bec3edbaacc2b056" continuedAt="Text_d0e46aea53da4bd79bec3edbaacc2b057"><ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c9318" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c9319">
<div style="text-align: justify;"><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_d0e46aea53da4bd79bec3edbaacc2b057" continuedAt="Text_d0e46aea53da4bd79bec3edbaacc2b058"><ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c9319" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c93110">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_d0e46aea53da4bd79bec3edbaacc2b058" continuedAt="Text_d0e46aea53da4bd79bec3edbaacc2b059"><ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c93110" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c93111">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The interim condensed consolidated
financial statements include the accounts of the Company and its wholly-owned subsidiary, G.research. Intercompany accounts and transactions have been eliminated.</div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_d0e46aea53da4bd79bec3edbaacc2b059" continuedAt="Text_d0e46aea53da4bd79bec3edbaacc2b0510"><ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c93111" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c93112">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_d0e46aea53da4bd79bec3edbaacc2b0510" continuedAt="Text_d0e46aea53da4bd79bec3edbaacc2b0511"><ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c93112" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c93113">
<div style="text-align: justify;"><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_d0e46aea53da4bd79bec3edbaacc2b0511" continuedAt="Text_d0e46aea53da4bd79bec3edbaacc2b0512"><ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c93113" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c93114">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_d0e46aea53da4bd79bec3edbaacc2b0512"><ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c93114" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c93115">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">These interim condensed
consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in our annual report on Form 10-K for the year ended December 31, 2021.</div>
</ix:continuation></ix:continuation><ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c93115" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c93116">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c93116" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c93117">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation><ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c93117" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c93118"><ix:nonNumeric name="us-gaap:UseOfEstimates" id="Text_458031b4ad1e433fa13ced9c70708842" contextRef="c20220101to20220630" escape="true" continuedAt="Text_22e2cebbb7d840b7bfbef004b1b8f3471">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:nonNumeric></ix:continuation>
<ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c93118" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c93119"><ix:continuation id="Text_22e2cebbb7d840b7bfbef004b1b8f3471" continuedAt="Text_22e2cebbb7d840b7bfbef004b1b8f3472">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Use of Estimates</div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c93119" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c93120"><ix:continuation id="Text_22e2cebbb7d840b7bfbef004b1b8f3472" continuedAt="Text_22e2cebbb7d840b7bfbef004b1b8f3473">
<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c93120" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c93121"><ix:continuation id="Text_22e2cebbb7d840b7bfbef004b1b8f3473" continuedAt="Text_22e2cebbb7d840b7bfbef004b1b8f3474">
<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c93121" continuedAt="Text_a4a787c1bf6d4419995d956e51d1c93122"><ix:continuation id="Text_22e2cebbb7d840b7bfbef004b1b8f3474" continuedAt="Text_22e2cebbb7d840b7bfbef004b1b8f3475">
<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_a4a787c1bf6d4419995d956e51d1c93122"><ix:continuation id="Text_22e2cebbb7d840b7bfbef004b1b8f3475">
<div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s financial statements are prepared in accordance with U.S.
GAAP, which requires management to make estimates and assumptions 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 that reporting period. Actual results could differ from those estimates.</div>
</ix:continuation></ix:continuation>
<div>
<span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span> <span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span> </div>
<div><br />
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
<div>
<ix:nonNumeric name="us-gaap:RevenueFromContractWithCustomerTextBlock" id="Text_c13d7efc0fd945f3907ce265d1d222b2" contextRef="c20220101to20220630" escape="true" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff1">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2. Revenue
from Contracts with Customers</div>
</ix:nonNumeric>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff1" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff2">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff2" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff3">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff3" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff4">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff4" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff5">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company records revenue from
contracts with customers in accordance with Accounting Standards Codification Topic 606, <span style="font-style: italic;">Revenue from Contracts with Customers</span> (“Topic 606”). Under Topic 606, the Company must identify the
contract with a customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract, and recognize revenue when the Company
satisfies a performance obligation.</div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff5" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff6">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br />
</div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff6" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff7">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Significant judgments that
affect the amounts and timing of revenue recognition:</div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff7" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff8">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff8" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff9">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff9" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff10">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff10" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff11">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s analysis of the
timing of revenue recognition of each revenue stream is based on the provisions of each respective contract. Performance obligations could, however, change from time to time if and when existing contracts are modified or new contracts
are entered into. These changes could potentially affect the timing of satisfaction of performance obligations, the determination of the transaction price, and the allocation of the price to performance obligations. In the case of the
revenue streams discussed below, the performance obligation is satisfied either at a point in time or over time. The judgments outlined below, where the determination as to these factors is discussed in detail, are continually reviewed
and monitored by the Company when new contracts or contract modifications occur. Transaction price is in all instances formulaic and not subject to significant (or any) judgment at the current time.</div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff11" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff12">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff12" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff13">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff13" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff14">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff14" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff15">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s assessment of the
recognition of these revenues is as follows:</div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff15" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff16">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff16" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff17">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff17" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff18">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff18" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff19">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Revenue from contracts with
customers includes commissions, fees earned from affiliated entities pursuant to research services agreements, underwriting fees, and sales manager fees.</div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff19" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff20">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff20" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff21">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="DSPFPageBreakArea">
<div style="text-align: center;" class="DSPFPageNumberArea"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" class="DSPFPageNumber">8</span></div>
<div style="page-break-after: always;" class="DSPFPageBreak">
<hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" /></div>
<div style="width: 100%;" class="DSPFPageHeader">
<div><a href="#INDEX"><span style="font-size: 8pt; font-style: italic;">Index</span></a>
<div><br />
</div>
</div>
</div>
</div>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff21" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff22">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff22" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff23">
<div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Commissions</div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff23" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff24">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff24" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff25">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff25" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff26">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff26" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff27">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="text-decoration: underline;">Brokerage commissions</span>.
Acting as agent, the Company buys and sells securities on behalf of its customers. Commissions are charged on the execution of these securities transactions made on behalf of client accounts and are negotiated. The Company recognizes
commission revenue when the related securities transactions are executed on the trade date. The Company believes that the performance obligation is satisfied on the trade date because that is when the underlying financial instrument or
purchaser is identified, the pricing is agreed upon, and the risks and rewards of ownership have been transferred to/from the customer. Commissions earned are typically collected from the clearing brokers utilized by the Company on a
daily or weekly basis.</div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff27" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff28">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff28" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff29">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff29" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff30">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff30" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff31">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="text-decoration: underline;">Hard dollar payments</span>. The
Company provides research services to unrelated parties, for which direct payment is received. The company may, or may not, have contracts for such services. Where a contract for such services is in place, the contractual fee for the
period is recognized ratably over the contract period, which is considered the period over which the Company satisfies its performance obligation. For payments where no research contract exists, revenue is not recognized until agreement
is reached with the client at which time the performance obligation is considered to have been met and revenue is recognized.</div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff31" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff32">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff32" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff33">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff33" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff34">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff34" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff35">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Commission revenues are impacted
by the perceived value of the research product provided to clients, the volume of securities transactions, and the acquisition or loss of new client relationships.</div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff35" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff36">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff36" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff37">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff37" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff38">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff38" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff39">
<div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Fees earned
from affiliated entities pursuant to research services agreements</div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff39" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff40">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff40" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff41">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff41" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff42">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff42" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff43">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company receives direct
payments for research services provided to related parties pursuant to contracts. The contractual fee for the period is fixed and recognized ratably over the contract period, typically a calendar year, which is considered the period
over which the Company satisfies its performance obligation. Payments for contracts with affiliated parties are collected monthly.</div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff43" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff44">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br />
</span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff44" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff45">
<div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Underwriting
fees</div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff45" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff46">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff46" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff47">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff47" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff48">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff48" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff49">
<div style="text-align: justify; color: rgb(0, 0, 0);"><span style="text-decoration: underline;"><span style="font-style: italic; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Underwriting fees</span></span><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">. The
Company acts as underwriter in an agent capacity. Revenues are earned from fees arising from these offerings and the terms are set forth in contracts between the underwriters and the issuer. The Company’s underwriting revenue is
considered to be conditional revenue because it is subject to reduction to zero once the offsetting syndicate expenses have been quantified by the syndicate manager (i.e., lead underwriter) and allocated to each underwriter in
proportion to their participation in the offering. Revenue recognition is therefore delayed until it is probable that a significant reversal in the amount of revenue recognized will not occur. That is, it is recognized only when
uncertainty associated with the syndicate expenses is subsequently resolved and final settlement of syndicate accounts is affected by the syndicate manager. Payment is typically received from the syndicate manager within <ix:nonNumeric name="mghl:UnderwriterPaymentReceivingMaximumPeriod" id="Fact_21fd963b1f4140f9a4c5cf171ff3813a" contextRef="c20220101to20220630" format="ixt-sec:durwordsen">ninety days</ix:nonNumeric> after settlement date.</span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff49" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff50">
<div style="text-align: justify; color: rgb(0, 0, 0);"><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br />
</span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff50" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff51">
<div style="text-align: justify; color: rgb(0, 0, 0);"><span style="text-decoration: underline;"><span style="font-style: italic; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none; font-weight: normal;">Selling concessions</span></span><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">. The Company participates as a member of the selling group of underwritten equity offerings and receives compensation based on the difference between what its customers pay for the securities sold to its
institutional clients and what the issuer receives. The terms of the selling concessions are set forth in contracts between the Company and the underwriter. Revenue is recognized on the trade date (the date on which the Company
purchases the securities from the issuer) for the portion the Company is contracted to buy. The Company believes that the trade date is the appropriate point in time to recognize revenue for securities underwriting transactions as
there are no significant actions the Company needs to take subsequent to this date, and the issuer obtains the control and benefit of the capital markets offering at this point. Selling concessions earned are typically collected from
the clearing brokers utilized by the Company on a daily or weekly basis.</span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff51" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff52">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff52" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff53">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff53" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff54">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff54" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff55">
<div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Sales manager
fees</div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff55" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff56">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff56" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff57">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff57" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff58">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff58" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff59">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company participates as
sales manager of at-the-market offerings of certain affiliated closed-end funds and receives a tiered percentage of proceeds as stipulated in agreements between the Company, the funds and the funds’ investment adviser. The Company
recognizes sales manager fees upon sale of the related closed-end funds. Sales manager fees earned are fixed and typically collected from the clearing brokers utilized by the Company on a daily or weekly basis.</div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff59" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff60">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff60" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff61">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="DSPFPageBreakArea">
<div style="text-align: center;" class="DSPFPageNumberArea"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" class="DSPFPageNumber">9</span></div>
<div style="page-break-after: always;" class="DSPFPageBreak">
<hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" /></div>
<div style="width: 100%;" class="DSPFPageHeader">
<div><a href="#INDEX"><span style="font-size: 8pt; font-style: italic;">Index</span></a>
<div><br />
</div>
</div>
</div>
</div>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff61" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff62">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff62" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff63">
<div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Revenue
Disaggregated</div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff63" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff64">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff64" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff65">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation><ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff65" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff66"><ix:nonNumeric name="us-gaap:DisaggregationOfRevenueTableTextBlock" id="Text_bf43fff699b748f9b67966d3eda41799" contextRef="c20220101to20220630" escape="true" continuedAt="Text_ef0c9fc5d0cf4bd194708a72058e65d01">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
</div>
</ix:nonNumeric></ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff66" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff67"><ix:continuation id="Text_ef0c9fc5d0cf4bd194708a72058e65d01" continuedAt="Text_ef0c9fc5d0cf4bd194708a72058e65d02">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: justify;">Total revenues from contracts
with customers by type were as follows for the three and six months ended June 30, 2022 and 2021:</div>
</ix:continuation></ix:continuation>
<div><ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff67" continuedAt="Text_003e99f2ba174f9380912eae4f0863ff68"><ix:continuation id="Text_ef0c9fc5d0cf4bd194708a72058e65d02" continuedAt="Text_ef0c9fc5d0cf4bd194708a72058e65d03">
<div><br class="Apple-interchange-newline" /></div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_003e99f2ba174f9380912eae4f0863ff68"><ix:continuation id="Text_ef0c9fc5d0cf4bd194708a72058e65d03">
<table cellspacing="0" cellpadding="0" style="letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;" class="cfttable">
<tr>
<td valign="bottom" style="vertical-align: top; padding-bottom: 2px;"> </td>
<td valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="6">
<div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Three months ended June 30,</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="6">
<div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Six months ended June 30,</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; padding-bottom: 2px;"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Commissions</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_eb06dcd4a5e7481181e3943e74254fdf" contextRef="c20220401to20220630_ProductOrServiceAxis_CommissionsMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">420,521</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_6f64d71bc44343dc9840a3ad8091edec" contextRef="c20210401to20210630_ProductOrServiceAxis_CommissionsMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">492,898</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_d6a0029eafcc4cf585f963ce1509f8ee" contextRef="c20220101to20220630_ProductOrServiceAxis_CommissionsMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">880,516</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_7ec53835900043ebb2288be01cc4d334" contextRef="c20210101to20210630_ProductOrServiceAxis_CommissionsMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">1,084,146</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; padding-bottom: 2px;">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-indent: -9pt; margin-left: 9pt;">Hard dollar payments</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_1730cbf82db647908d7680329f3f341d" contextRef="c20220401to20220630_ProductOrServiceAxis_HardDollarPaymentsMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">29,143</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_09e7ebfe7e08470ebb0e0f511132dc5f" contextRef="c20210401to20210630_ProductOrServiceAxis_HardDollarPaymentsMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">73,538</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_a607f04ded74430b83484d00622844b0" contextRef="c20220101to20220630_ProductOrServiceAxis_HardDollarPaymentsMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">72,887</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_a05834047740417f9e7631de7e1878f7" contextRef="c20210101to20210630_ProductOrServiceAxis_HardDollarPaymentsMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">137,898</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_5087ce5c3fa344bda39d527e068781bb" contextRef="c20220401to20220630_ProductOrServiceAxis_BrokerageCommissionsMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">449,664</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_21fb9bb2d9b04ecc8c25c244171df9f0" contextRef="c20210401to20210630_ProductOrServiceAxis_BrokerageCommissionsMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">566,436</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_ad5a6f6b5b414bcd95cbbd7407803369" contextRef="c20220101to20220630_ProductOrServiceAxis_BrokerageCommissionsMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">953,403</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_4e3fb2eb6248446f94068d86a8089c34" contextRef="c20210101to20210630_ProductOrServiceAxis_BrokerageCommissionsMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">1,222,044</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; padding-bottom: 2px;">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-indent: -9pt; margin-left: 9pt;">Underwriting fees</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_aceca1a81bb749a0acd89dc68c459270" contextRef="c20220401to20220630_ProductOrServiceAxis_UnderwritingFeesMember" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_14514c2e23ca466bb446f15d2eb4ba87" contextRef="c20210401to20210630_ProductOrServiceAxis_UnderwritingFeesMember" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_9c43dd3725ca43a4b29652c26812070c" contextRef="c20220101to20220630_ProductOrServiceAxis_UnderwritingFeesMember" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_2aade9a39a13458993e8697ec7d77a8c" contextRef="c20210101to20210630_ProductOrServiceAxis_UnderwritingFeesMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">6,311</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_592edac78bc84214a8fea36d2790371d" contextRef="c20220401to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">449,664</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_220acb7be1b94a5a82ed16f33b079368" contextRef="c20210401to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">566,436</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_7eb7c6bb807a46d2b72cc5a3fa0e46cf" contextRef="c20220101to20220630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">953,403</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" id="Fact_918c9237201c4191b3a7675d7ca16e7d" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">1,228,356</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
</tr>
</table>
</ix:continuation></ix:continuation>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);"> <div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
<div>
<ix:nonNumeric name="us-gaap:RelatedPartyTransactionsDisclosureTextBlock" id="Text_f909d396be85451da332e7b714d8a002" contextRef="c20220101to20220630" escape="true" continuedAt="Text_6c14faa8fce845ec9aa87b3390dabf871">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">3. Related
Party Transactions</div>
</ix:nonNumeric>
<ix:continuation id="Text_6c14faa8fce845ec9aa87b3390dabf871" continuedAt="Text_6c14faa8fce845ec9aa87b3390dabf872">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">
<ix:continuation id="Text_6c14faa8fce845ec9aa87b3390dabf872" continuedAt="Text_6c14faa8fce845ec9aa87b3390dabf873">
<div style="display:none;"><br /></div>
<div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify;">At June 30, 2022 and December 31, 2021, the Company had an investment of $<ix:nonFraction name="us-gaap:Investments" id="Fact_fe24453fcf984422b0c815d8e25b1704" contextRef="c20220630_InvestmentTypeAxis_USTreasuryMoneyMarketFundMember_RelatedPartyTransactionsByRelatedPartyAxis_GabelliFundsLLCMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,468,951</ix:nonFraction> and $<ix:nonFraction name="us-gaap:Investments" id="Fact_5f781370450340f2b0815f45e71d6dc1" contextRef="c20211231_InvestmentTypeAxis_USTreasuryMoneyMarketFundMember_RelatedPartyTransactionsByRelatedPartyAxis_GabelliFundsLLCMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,859,939</ix:nonFraction>, respectively, in The Gabelli U.S. Treasury Money Market Fund advised by Gabelli Funds, LLC, which is an affiliate of the Company.
The amount is recorded in cash and cash equivalents in the Condensed Consolidated Statements of Financial Condition. Income earned from this investment totaled $<ix:nonFraction name="us-gaap:InterestAndDividendIncomeOperating" id="Fact_315b00bed47649a5a40254badb605a71" contextRef="c20220401to20220630_InvestmentTypeAxis_USTreasuryMoneyMarketFundMember_RelatedPartyTransactionsByRelatedPartyAxis_GabelliFundsLLCMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">3,213</ix:nonFraction> and $<ix:nonFraction name="us-gaap:InterestAndDividendIncomeOperating" id="Fact_0ada60c84325420c933be08715260f89" contextRef="c20210401to20210630_InvestmentTypeAxis_USTreasuryMoneyMarketFundMember_RelatedPartyTransactionsByRelatedPartyAxis_GabelliFundsLLCMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">8</ix:nonFraction> for the three months ended June 30, 2022 and 2021,
respectively, and $<ix:nonFraction name="us-gaap:InterestAndDividendIncomeOperating" id="Fact_2b9679b02dc14702aefded34890de190" contextRef="c20220101to20220630_InvestmentTypeAxis_USTreasuryMoneyMarketFundMember_RelatedPartyTransactionsByRelatedPartyAxis_GabelliFundsLLCMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">3,422</ix:nonFraction> and $<ix:nonFraction name="us-gaap:InterestAndDividendIncomeOperating" id="Fact_f2620cbd2b22414f9e1e6f0660315d16" contextRef="c20210101to20210630_InvestmentTypeAxis_USTreasuryMoneyMarketFundMember_RelatedPartyTransactionsByRelatedPartyAxis_GabelliFundsLLCMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">125</ix:nonFraction>
for the six months ended June 30, 2022 and 2021, respectively, and is included in dividends and interest in the Condensed Consolidated Statements of Operations.</div>
</ix:continuation>
<ix:continuation id="Text_6c14faa8fce845ec9aa87b3390dabf873" continuedAt="Text_6c14faa8fce845ec9aa87b3390dabf874">
<div style="display:none;"><br /></div>
<div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><br />
</div>
</ix:continuation>
<ix:continuation id="Text_6c14faa8fce845ec9aa87b3390dabf874" continuedAt="Text_6c14faa8fce845ec9aa87b3390dabf875">
<div style="display:none;"><br /></div>
<div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify;">For the three months ended June 30, 2022 and 2021, the Company earned $<ix:nonFraction name="us-gaap:RevenueFromRelatedParties" id="Fact_cf80022948674b0095ab87843e72ecf8" contextRef="c20220401to20220630_ProductOrServiceAxis_CommissionsMember_RelatedPartyTransactionsByRelatedPartyAxis_AffiliatedEntityMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">262,525</ix:nonFraction> and $<ix:nonFraction name="us-gaap:RevenueFromRelatedParties" id="Fact_4874764430794c45be438727e74448d2" contextRef="c20210401to20210630_ProductOrServiceAxis_CommissionsMember_RelatedPartyTransactionsByRelatedPartyAxis_AffiliatedEntityMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">292,731</ix:nonFraction> or approximately <ix:nonFraction name="mghl:RevenueFromRelatedPartyPercentage" id="Fact_429e73d773e04e5c81e8e6c3995e1f5c" contextRef="c20220401to20220630_ProductOrServiceAxis_CommissionsMember_RelatedPartyTransactionsByRelatedPartyAxis_AffiliatedEntityMember" unitRef="U004" decimals="2" scale="-2" format="ixt:numdotdecimal">58</ix:nonFraction>%
and <ix:nonFraction name="mghl:RevenueFromRelatedPartyPercentage" id="Fact_aab3e354b3844fa099e42a2bdd5cddee" contextRef="c20210401to20210630_ProductOrServiceAxis_CommissionsMember_RelatedPartyTransactionsByRelatedPartyAxis_AffiliatedEntityMember" unitRef="U004" decimals="2" scale="-2" format="ixt:numdotdecimal">52</ix:nonFraction>%, respectively, of its commission revenue from transactions executed on behalf of funds advised by Gabelli Funds,
LLC. (“Gabelli Funds”) and private wealth management clients advised by GAMCO Asset Management Inc., (“GAMCO Asset”), each affiliates of the Company. For the six months ended June 30, 2022 and 2021, the Company earned $<ix:nonFraction name="us-gaap:RevenueFromRelatedParties" id="Fact_8767ead35f42432785ecedbf90df9cd0" contextRef="c20220101to20220630_ProductOrServiceAxis_CommissionsMember_RelatedPartyTransactionsByRelatedPartyAxis_AffiliatedEntityMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">537,420</ix:nonFraction> and $<ix:nonFraction name="us-gaap:RevenueFromRelatedParties" id="Fact_2e703cfca00140809a1fac2324c1bf22" contextRef="c20210101to20210630_ProductOrServiceAxis_CommissionsMember_RelatedPartyTransactionsByRelatedPartyAxis_AffiliatedEntityMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">664,981</ix:nonFraction> or
approximately <ix:nonFraction name="mghl:RevenueFromRelatedPartyPercentage" id="Fact_8d0bcdd04ddd40e1a9329cb1f29d01f9" contextRef="c20220101to20220630_ProductOrServiceAxis_CommissionsMember_RelatedPartyTransactionsByRelatedPartyAxis_AffiliatedEntityMember" unitRef="U004" decimals="2" scale="-2" format="ixt:numdotdecimal">56</ix:nonFraction>% and <ix:nonFraction name="mghl:RevenueFromRelatedPartyPercentage" id="Fact_6671bb062f3c441197c8320426f9f535" contextRef="c20210101to20210630_ProductOrServiceAxis_CommissionsMember_RelatedPartyTransactionsByRelatedPartyAxis_AffiliatedEntityMember" unitRef="U004" decimals="2" scale="-2" format="ixt:numdotdecimal">54</ix:nonFraction>%,
respectively, of its commission revenue from transactions executed on behalf of funds advised by Gabelli Funds and private wealth management clients advised by GAMCO Asset.</div>
</ix:continuation>
</div>
</div>
<div>
<div><ix:continuation id="Text_6c14faa8fce845ec9aa87b3390dabf875" continuedAt="Text_6c14faa8fce845ec9aa87b3390dabf876">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span></div>
</ix:continuation>
<ix:continuation id="Text_6c14faa8fce845ec9aa87b3390dabf876">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">AC has a sublease agreement with
GBL that expired on April 1, 2020 and continues on a month to month basis. AC allocates this expense to the Company based on the percentage of square footage occupied by the Company’s employees (including pro rata allocation of common
space). For the three months ended June 30, 2022 and 2021, the Company paid<span style="font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; text-align: justify; text-indent: 0px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;"> $<ix:nonFraction name="mghl:PaymentMadeUnderSubleaseAgreement" id="Fact_8e5e6cfae2334dbda03c2f7a25400b82" contextRef="c20220401to20220630_CounterpartyNameAxis_AssociatedCapitalGroupMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">14,110</ix:nonFraction> and $<ix:nonFraction name="mghl:PaymentMadeUnderSubleaseAgreement" id="Fact_042f6d4e66b04f1d8a2666b3daf4ca21" contextRef="c20210401to20210630_CounterpartyNameAxis_AssociatedCapitalGroupMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">26,111</ix:nonFraction>, respectively, under the sublease agreement. </span>For
the six months ended June 30, 2022 and 2021, the Company paid $<ix:nonFraction name="mghl:PaymentMadeUnderSubleaseAgreement" id="Fact_1a43df82e50f49199c2fbaf0660b01f2" contextRef="c20220101to20220630_CounterpartyNameAxis_AssociatedCapitalGroupMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">28,764</ix:nonFraction> and $<ix:nonFraction name="mghl:PaymentMadeUnderSubleaseAgreement" id="Fact_c3a7982b8a1740ca987215213837518a" contextRef="c20210101to20210630_CounterpartyNameAxis_AssociatedCapitalGroupMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">52,242</ix:nonFraction>, respectively, under the sublease agreement. These amounts are included within occupancy and equipment expenses on the Condensed Consolidated Statements of
Operations.</div>
</ix:continuation>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div><br />
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
<div>
<ix:nonNumeric name="us-gaap:FairValueDisclosuresTextBlock" id="Text_052b12a4b2594cad9dac0fd8f6cc8570" contextRef="c20220101to20220630" escape="true" continuedAt="Text_885bb89756164ec19cd4f33f93af29501">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">4. Fair Value</div>
</ix:nonNumeric>
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<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af29502" continuedAt="Text_885bb89756164ec19cd4f33f93af29503">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af29503" continuedAt="Text_885bb89756164ec19cd4f33f93af29504">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af29504" continuedAt="Text_885bb89756164ec19cd4f33f93af29505">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The carrying amounts of all
financial instruments in the Condensed Consolidated Statements of Financial Condition approximate their fair values.</div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af29505" continuedAt="Text_885bb89756164ec19cd4f33f93af29506">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af29506" continuedAt="Text_885bb89756164ec19cd4f33f93af29507">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af29507" continuedAt="Text_885bb89756164ec19cd4f33f93af29508">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af29508" continuedAt="Text_885bb89756164ec19cd4f33f93af29509">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s financial
instruments have been categorized based upon a fair value hierarchy:</div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af29509" continuedAt="Text_885bb89756164ec19cd4f33f93af295010">
<div><br />
</div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295010" continuedAt="Text_885bb89756164ec19cd4f33f93af295011">
<table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 18pt;"><br />
</td>
<td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">-</td>
<td style="width: auto; vertical-align: top;">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: justify;">Level
1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 1 assets include cash equivalents.</div>
</td>
</tr>
</table>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295011" continuedAt="Text_885bb89756164ec19cd4f33f93af295012">
<table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 18pt;"><br />
</td>
<td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">-</td>
<td style="width: auto; vertical-align: top;">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: justify;">Level
2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active
markets and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals.</div>
</td>
</tr>
</table>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295012" continuedAt="Text_885bb89756164ec19cd4f33f93af295013">
<table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 18pt;"><br />
</td>
<td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">-</td>
<td style="width: auto; vertical-align: top;">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: justify;">Level
3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. These assets include infrequently traded common stocks.</div>
</td>
</tr>
</table>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295013" continuedAt="Text_885bb89756164ec19cd4f33f93af295014">
<div><br />
</div>
</ix:continuation>
<div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="DSPFPageBreakArea">
<div style="text-align: center;" class="DSPFPageNumberArea"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" class="DSPFPageNumber">10</span></div>
<div style="page-break-after: always;" class="DSPFPageBreak">
<hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" /></div>
<div style="width: 100%;" class="DSPFPageHeader">
<div><a href="#INDEX"><span style="font-size: 8pt; font-style: italic;">Index</span></a>
<div><br />
</div>
</div>
</div>
</div>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295014" continuedAt="Text_885bb89756164ec19cd4f33f93af295015">
<div style="text-align: justify; color: rgb(0, 0, 0);"><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The following tables present information about the Company’s assets and liabilities by major category measured at fair value on a recurring basis as of  June 30, 2022 and December 31, 2021 and indicates the fair
value hierarchy of the valuation techniques utilized by the Company to determine such fair value:</span><br />
</div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295015" continuedAt="Text_885bb89756164ec19cd4f33f93af295016">
<div><br />
</div>
</ix:continuation>
<ix:nonNumeric name="us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" id="Text_de7eb0b0919944f0862e43b932cba324" contextRef="c20220101to20220630" escape="true" continuedAt="Text_df5822f2547541f6be288f33a1b141a21"><ix:continuation id="Text_885bb89756164ec19cd4f33f93af295016" continuedAt="Text_885bb89756164ec19cd4f33f93af295017">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Assets Measured
at Fair Value on a Recurring Basis as of June 30, 2022:</div>
</ix:continuation></ix:nonNumeric>
<ix:continuation id="Text_df5822f2547541f6be288f33a1b141a21" continuedAt="Text_df5822f2547541f6be288f33a1b141a22"><ix:continuation id="Text_885bb89756164ec19cd4f33f93af295017" continuedAt="Text_885bb89756164ec19cd4f33f93af295018">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;"> <br />
</div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_df5822f2547541f6be288f33a1b141a22" continuedAt="Text_df5822f2547541f6be288f33a1b141a23"><ix:continuation id="Text_885bb89756164ec19cd4f33f93af295018" continuedAt="Text_885bb89756164ec19cd4f33f93af295019">
<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" class="cfttable">
<tr>
<td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;">
<div> </div>
<div> </div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets</div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Quoted Prices in Active<br />
</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Markets for Identical</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets (Level 1)</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant Other</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Observable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 2)</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Unobservable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 3)</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Total</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;">
<div style="color: rgb(0, 0, 0);">Cash equivalents</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" id="Fact_b7806e23a70f461a9151bbd586d658af" contextRef="c20220630_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,468,951</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" id="Fact_9c41064d286f4e87a3e515d6bdf97f50" contextRef="c20220630_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" id="Fact_d2c4e3cb751944c2b19d29fba5dcbd51" contextRef="c20220630_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" id="Fact_4a2b94392bc64df1839f122b88c1d95e" contextRef="c20220630_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,468,951</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); font-weight: bold;">Total assets at fair value</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:AssetsFairValueDisclosure" id="Fact_23b945d03a954bf6b1802e3e7600268f" contextRef="c20220630_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,468,951</ix:nonFraction><br />
</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:AssetsFairValueDisclosure" id="Fact_0ee5b11ebd0d4f4b8ed4e133f7ca4226" contextRef="c20220630_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:AssetsFairValueDisclosure" id="Fact_10da5b9fad0d45838aa68366a64e8de1" contextRef="c20220630_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:AssetsFairValueDisclosure" id="Fact_6c60aa4ddba94dcb9da957ea33a2d893" contextRef="c20220630_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,468,951</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
</tr>
</table>
</ix:continuation></ix:continuation>
<div><ix:continuation id="Text_df5822f2547541f6be288f33a1b141a23" continuedAt="Text_df5822f2547541f6be288f33a1b141a24"><ix:continuation id="Text_885bb89756164ec19cd4f33f93af295019" continuedAt="Text_885bb89756164ec19cd4f33f93af295020">
<div><br /></div>
</ix:continuation></ix:continuation>
<div>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295020" continuedAt="Text_885bb89756164ec19cd4f33f93af295021">
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">There were no transfers between
any levels during the six months ended June 30, 2022.</span></div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295021" continuedAt="Text_885bb89756164ec19cd4f33f93af295022">
<div> </div>
</ix:continuation>
</div>
</div>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295022" continuedAt="Text_885bb89756164ec19cd4f33f93af295023"><ix:continuation id="Text_df5822f2547541f6be288f33a1b141a24" continuedAt="Text_df5822f2547541f6be288f33a1b141a25">
<div><span style="font-weight: bold;"><span style="background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Assets Measured at Fair Value on a
Recurring Basis as of December 31, 2021: </span></span></div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295023" continuedAt="Text_885bb89756164ec19cd4f33f93af295024"><ix:continuation id="Text_df5822f2547541f6be288f33a1b141a25" continuedAt="Text_df5822f2547541f6be288f33a1b141a26">
<div style="color: rgb(0, 0, 0); font-weight: bold;"> <br />
</div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295024" continuedAt="Text_885bb89756164ec19cd4f33f93af295025"><ix:continuation id="Text_df5822f2547541f6be288f33a1b141a26">
<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">
<tr>
<td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;">
<div> </div>
<div> </div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets</div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Quoted Prices in Active<br />
</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Markets for Identical</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets (Level 1)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant Other</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Observable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 2)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Unobservable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 3)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Total</div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;">
<div style="color: rgb(0, 0, 0);">Cash equivalents</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" id="Fact_e4147a0f4ca346b8865a82e2e82a0e17" contextRef="c20211231_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,859,939</ix:nonFraction></div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" id="Fact_a6bf3c4da65a49d081a703aff267681f" contextRef="c20211231_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" id="Fact_118edcf8b9ea40af963b952a1b596be3" contextRef="c20211231_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" id="Fact_27df40e544f8419fafae3a0478a3ec95" contextRef="c20211231_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,859,939</ix:nonFraction></div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); font-weight: bold;">Total assets at fair value</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:AssetsFairValueDisclosure" id="Fact_2c7ad907a7974065ac551acfcbf3083c" contextRef="c20211231_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,859,939</ix:nonFraction></div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:AssetsFairValueDisclosure" id="Fact_6da8e44823a745d5908638696261e16a" contextRef="c20211231_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:AssetsFairValueDisclosure" id="Fact_0f78e7403f3b486dbd8036d867115e94" contextRef="c20211231_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0" scale="0" format="ixt:zerodash">-</ix:nonFraction></div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);"><ix:nonFraction name="us-gaap:AssetsFairValueDisclosure" id="Fact_91fa8a46ad2d40518ab93a3fe637c123" contextRef="c20211231_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">2,859,939</ix:nonFraction></div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
</tr>
</table>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295025" continuedAt="Text_885bb89756164ec19cd4f33f93af295026">
<div><br />
</div>
</ix:continuation>
<div>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295026" continuedAt="Text_885bb89756164ec19cd4f33f93af295027">
<div style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">There were no transfers between
any levels during the year ended December 31, 2021.</div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295027" continuedAt="Text_885bb89756164ec19cd4f33f93af295028">
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295028" continuedAt="Text_885bb89756164ec19cd4f33f93af295029">
<div style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295029" continuedAt="Text_885bb89756164ec19cd4f33f93af295030">
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation></div>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295030" continuedAt="Text_885bb89756164ec19cd4f33f93af295031">
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295031" continuedAt="Text_885bb89756164ec19cd4f33f93af295032">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Cash
equivalents primarily consist of an affiliated money market mutual fund which is invested solely in U.S. Treasuries and valued based on the net asset value of the fund.</div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295032" continuedAt="Text_885bb89756164ec19cd4f33f93af295033">
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295033" continuedAt="Text_885bb89756164ec19cd4f33f93af295034">
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295034" continuedAt="Text_885bb89756164ec19cd4f33f93af295035">
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295035" continuedAt="Text_885bb89756164ec19cd4f33f93af295036">
<div style="color: rgb(0, 0, 0); font-style: italic; background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Financial assets disclosed but not
carried at fair value</div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295036" continuedAt="Text_885bb89756164ec19cd4f33f93af295037">
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295037" continuedAt="Text_885bb89756164ec19cd4f33f93af295038">
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295038" continuedAt="Text_885bb89756164ec19cd4f33f93af295039">
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_885bb89756164ec19cd4f33f93af295039">
<div style="text-align: justify; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The carrying
value of other financial assets and liabilities approximates their fair value based on the short term nature of these items.</div>
</ix:continuation>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div><br />
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
<div>
<ix:nonNumeric name="us-gaap:PensionAndOtherPostretirementBenefitsDisclosureTextBlock" id="Text_181712ce99e14a9486b83a32b1887744" contextRef="c20220101to20220630" escape="true" continuedAt="Text_4cd11ddfc5294a469f20434c20893a331">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">5. Retirement
Plan</div>
</ix:nonNumeric>
<ix:continuation id="Text_4cd11ddfc5294a469f20434c20893a331" continuedAt="Text_4cd11ddfc5294a469f20434c20893a332">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_4cd11ddfc5294a469f20434c20893a332" continuedAt="Text_4cd11ddfc5294a469f20434c20893a333">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_4cd11ddfc5294a469f20434c20893a333" continuedAt="Text_4cd11ddfc5294a469f20434c20893a334">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_4cd11ddfc5294a469f20434c20893a334">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">The Company participates in Associated Capital’s incentive savings plan (the “Plan”), covering substantially all employees. Company contributions to the Plan are determined annually by
management of the Company and AC’s Board of Directors but may not exceed the amount permitted as a deductible expense under the Internal Revenue Code. Amounts expensed for allocated contributions to this Plan amounted to approximately $<ix:nonFraction name="us-gaap:DefinedContributionPlanEmployerDiscretionaryContributionAmount" id="Fact_672f41e838074409be0eb3dc4c69395f" contextRef="c20220101to20220630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">0</ix:nonFraction> as contributions to the plan are expected to be immaterial for the six months ended June 30, 2022. Contributions for the six months ended
June 30, 2021 resulted in a credit of ($<ix:nonFraction name="us-gaap:DefinedContributionPlanEmployerDiscretionaryContributionAmount" id="Fact_38d156160c184df1bb07029419b152c4" contextRef="c20210101to20210630" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">10,666</ix:nonFraction>) as reductions in headcount. Contributions and adjustments thereto were
recorded as compensation and related costs in the Statement of Operations.</span> </div>
</ix:continuation>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div><br />
</div>
<div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="DSPFPageBreakArea">
<div style="text-align: center;" class="DSPFPageNumberArea"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" class="DSPFPageNumber">11</span></div>
<div style="page-break-after: always;" class="DSPFPageBreak">
<hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" /></div>
<div style="width: 100%;" class="DSPFPageHeader">
<div><a href="#INDEX"><span style="font-size: 8pt; font-style: italic;">Index</span></a>
<div><br />
</div>
</div>
</div>
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
<div>
<ix:nonNumeric name="us-gaap:IncomeTaxDisclosureTextBlock" id="Text_1c7c7e44c9a247289c8a41310370905a" contextRef="c20220101to20220630" escape="true" continuedAt="Text_99dc4cc798314d3183bea86f040bb3361">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">6. Income Taxes</div>
</ix:nonNumeric>
<ix:continuation id="Text_99dc4cc798314d3183bea86f040bb3361" continuedAt="Text_99dc4cc798314d3183bea86f040bb3362">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_99dc4cc798314d3183bea86f040bb3362" continuedAt="Text_99dc4cc798314d3183bea86f040bb3363">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_99dc4cc798314d3183bea86f040bb3363" continuedAt="Text_99dc4cc798314d3183bea86f040bb3364">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<div style="text-align: justify;"><ix:continuation id="Text_99dc4cc798314d3183bea86f040bb3364" continuedAt="Text_99dc4cc798314d3183bea86f040bb3365">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_99dc4cc798314d3183bea86f040bb3365">
<div style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: justify;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">The effective tax rate (“ETR”) for the three months ended June 30, 2022 and 2021 was <ix:nonFraction name="us-gaap:EffectiveIncomeTaxRateContinuingOperations" id="Fact_c5c3bec4f3d54c59a33ea4328fcb82da" contextRef="c20220401to20220630" unitRef="U004" decimals="3" scale="-2" format="ixt:numdotdecimal">0.0</ix:nonFraction>%
and <ix:nonFraction name="us-gaap:EffectiveIncomeTaxRateContinuingOperations" id="Fact_be9af870b6244829a7f806f13fc4d541" contextRef="c20210401to20210630" unitRef="U004" decimals="3" scale="-2" format="ixt:numdotdecimal">0.0</ix:nonFraction>%, respectively, and the ETR for the six months ended June 30, 2022 and 2021 was <ix:nonFraction name="us-gaap:EffectiveIncomeTaxRateContinuingOperations" id="Fact_dfe825b4cc7a453f8e322e021a4c6299" contextRef="c20220101to20220630" unitRef="U004" decimals="3" scale="-2" format="ixt:numdotdecimal">0.0</ix:nonFraction>% and <ix:nonFraction name="us-gaap:EffectiveIncomeTaxRateContinuingOperations" id="Fact_bc6553cbe63e4dd596032bc7a800cae8" contextRef="c20210101to20210630" unitRef="U004" decimals="3" scale="-2" format="ixt:numdotdecimal">0.0</ix:nonFraction>%,
respectively. The ETR differs from the U.S. corporate rate of <ix:nonFraction name="us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" id="Fact_2428a4c48a004df89f67e71286acc118" contextRef="c20210101to20210630" unitRef="U004" decimals="2" scale="-2" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" id="Fact_03e7caf4c7e94b7694a0d450edae2e04" contextRef="c20220101to20220630" unitRef="U004" decimals="2" scale="-2" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" id="Fact_936bd916b4f64e0cb6e87993f1afd7c6" contextRef="c20210401to20210630" unitRef="U004" decimals="2" scale="-2" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" id="Fact_7a31ac8f30d94cbf9f89d7ff9d12dcb9" contextRef="c20220401to20220630" unitRef="U004" decimals="2" scale="-2" format="ixt:numdotdecimal">21</ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction>% for all periods due to state taxes and a valuation
allowance recorded on the deferred tax assets, mainly net operating loss carryforwards.</span> </div>
</ix:continuation>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div><br />
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
<div>
<ix:nonNumeric name="us-gaap:EarningsPerShareTextBlock" id="Text_c9ba9538213243de9d100cf0268327c5" contextRef="c20220101to20220630" escape="true" continuedAt="Text_44a201da97a44971ab2e05f5ec4d5f081">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">7. Earnings
per Share</div>
</ix:nonNumeric>
<ix:continuation id="Text_44a201da97a44971ab2e05f5ec4d5f081" continuedAt="Text_44a201da97a44971ab2e05f5ec4d5f082">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_44a201da97a44971ab2e05f5ec4d5f082" continuedAt="Text_44a201da97a44971ab2e05f5ec4d5f083">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_44a201da97a44971ab2e05f5ec4d5f083" continuedAt="Text_44a201da97a44971ab2e05f5ec4d5f084">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_44a201da97a44971ab2e05f5ec4d5f084" continuedAt="Text_44a201da97a44971ab2e05f5ec4d5f085">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Basic earnings per share is
computed by dividing net income / (loss) attributable to shareholders by the weighted average number of shares outstanding during the period. There were <ix:nonFraction name="us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" id="Fact_f11fef62fd244e418839d10ef6982371" contextRef="c20220401to20220630" unitRef="U001" decimals="INF" scale="0" format="ixt-sec:numwordsen"><ix:nonFraction name="us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" id="Fact_beb815cb23ae4a98858050f7a6ba3a7c" contextRef="c20220101to20220630" unitRef="U001" decimals="INF" scale="0" format="ixt-sec:numwordsen"><ix:nonFraction name="us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" id="Fact_bdf74d861d1b4f5197f6eca7fdd1966a" contextRef="c20210401to20210630" unitRef="U001" decimals="INF" scale="0" format="ixt-sec:numwordsen"><ix:nonFraction name="us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" id="Fact_85804df43a5d4404b1ccbe426207a5c8" contextRef="c20210101to20210630" unitRef="U001" decimals="INF" scale="0" format="ixt-sec:numwordsen">no</ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction> dilutive shares outstanding during the periods.</div>
</ix:continuation>
<ix:continuation id="Text_44a201da97a44971ab2e05f5ec4d5f085" continuedAt="Text_44a201da97a44971ab2e05f5ec4d5f086">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_44a201da97a44971ab2e05f5ec4d5f086" continuedAt="Text_44a201da97a44971ab2e05f5ec4d5f087">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation><ix:continuation id="Text_44a201da97a44971ab2e05f5ec4d5f087" continuedAt="Text_44a201da97a44971ab2e05f5ec4d5f088"><ix:nonNumeric name="us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" id="Text_788da29836dd42d6b3d1b9a61c49bdcf" contextRef="c20220101to20220630" escape="true" continuedAt="Text_f41a0f9e4bd54fa289a135ab6f5470cf1">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
</div>
</ix:nonNumeric></ix:continuation>
<ix:continuation id="Text_44a201da97a44971ab2e05f5ec4d5f088" continuedAt="Text_44a201da97a44971ab2e05f5ec4d5f089"><ix:continuation id="Text_f41a0f9e4bd54fa289a135ab6f5470cf1" continuedAt="Text_f41a0f9e4bd54fa289a135ab6f5470cf2">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The computations of basic and
diluted net loss per share are as follows:</div>
</ix:continuation></ix:continuation>
<div><ix:continuation id="Text_44a201da97a44971ab2e05f5ec4d5f089" continuedAt="Text_44a201da97a44971ab2e05f5ec4d5f0810"><ix:continuation id="Text_f41a0f9e4bd54fa289a135ab6f5470cf2" continuedAt="Text_f41a0f9e4bd54fa289a135ab6f5470cf3">
<div><br class="Apple-interchange-newline" /></div>
</ix:continuation></ix:continuation>
<ix:continuation id="Text_44a201da97a44971ab2e05f5ec4d5f0810"><ix:continuation id="Text_f41a0f9e4bd54fa289a135ab6f5470cf3">
<table cellspacing="0" cellpadding="0" style="font-family: &amp; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;" class="cfttable">
<tr>
<td valign="bottom" style="vertical-align: top; padding-bottom: 2px;"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="6">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Three
Months Ended June 30,</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="6">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Six Months Ended June 30,</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; padding-bottom: 2px;"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px;" colspan="2">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top;">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Basic and diluted:</div>
</td>
<td valign="bottom" style="vertical-align: bottom;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: top;" colspan="2"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: top;" colspan="2"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: top;" colspan="2"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: top;" colspan="2"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; background-color: #CCEEFF;">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Net loss attributable
to shareholders</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(<ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_eb2662b921d8489c987af8923e4efc8c" contextRef="c20220401to20220630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">351,332</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(<ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_0dfd903bdf884e149dd216f8848d6005" contextRef="c20210401to20210630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">720,895</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(<ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_44ee0b908e31418f8226967e386a1fa6" contextRef="c20220101to20220630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">698,445</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(<ix:nonFraction name="us-gaap:NetIncomeLoss" id="Fact_ac78770358064abab8afa4c9c5cc44e4" contextRef="c20210101to20210630" unitRef="U002" decimals="0" sign="-" scale="0" format="ixt:numdotdecimal">1,283,290</ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; padding-bottom: 2px;">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Weighted average
shares outstanding</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" id="Fact_51edc3ce58144b16a880b22081de17e7" contextRef="c20220401to20220630" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" id="Fact_1e8182972d464c01bd648a2dacb67f5e" contextRef="c20220401to20220630" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">600,090</ix:nonFraction></ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" id="Fact_cf52edd98a0943749474c3b5c15e6446" contextRef="c20210401to20210630" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" id="Fact_99c5f4d2f6924254ad1c740c0f9ebc93" contextRef="c20210401to20210630" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">600,090</ix:nonFraction></ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" id="Fact_b25b5ce771744a08a73ebe5ab6a2ed9c" contextRef="c20220101to20220630" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" id="Fact_69ee545ef1264877bcc9d9b659d8055c" contextRef="c20220101to20220630" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">600,090</ix:nonFraction></ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><ix:nonFraction name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" id="Fact_fcf7cd417527433da96bea3142c569f8" contextRef="c20210101to20210630" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" id="Fact_46b149f59db54de4be0730649e9434b3" contextRef="c20210101to20210630" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">600,090</ix:nonFraction></ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: top; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Basic and diluted net
loss per share</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(<ix:nonFraction name="us-gaap:EarningsPerShareDiluted" id="Fact_f357e9311ce14bbdb3fa6853608957f2" contextRef="c20220401to20220630" unitRef="U003" decimals="2" sign="-" scale="0" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:EarningsPerShareBasic" id="Fact_c1ba31e9513d4820bdda923fcfbdfbf8" contextRef="c20220401to20220630" unitRef="U003" decimals="2" sign="-" scale="0" format="ixt:numdotdecimal">0.59</ix:nonFraction></ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(<ix:nonFraction name="us-gaap:EarningsPerShareDiluted" id="Fact_fb4312c6280e4d36addd7c6351f72fe0" contextRef="c20210401to20210630" unitRef="U003" decimals="2" sign="-" scale="0" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:EarningsPerShareBasic" id="Fact_1da4ea6a2b1f4b54bb28957ff86bc41b" contextRef="c20210401to20210630" unitRef="U003" decimals="2" sign="-" scale="0" format="ixt:numdotdecimal">1.20</ix:nonFraction></ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(<ix:nonFraction name="us-gaap:EarningsPerShareBasic" id="Fact_e23e6d88568345c9972038a4cd99c308" contextRef="c20220101to20220630" unitRef="U003" decimals="2" sign="-" scale="0" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:EarningsPerShareDiluted" id="Fact_cc0b4dffd2b84b819c39f4c82f12d2cc" contextRef="c20220101to20220630" unitRef="U003" decimals="2" sign="-" scale="0" format="ixt:numdotdecimal">1.16</ix:nonFraction></ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1"> </td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(<ix:nonFraction name="us-gaap:EarningsPerShareDiluted" id="Fact_a1c23a171f2647e6b81f9af5e61077a0" contextRef="c20210101to20210630" unitRef="U003" decimals="2" sign="-" scale="0" format="ixt:numdotdecimal"><ix:nonFraction name="us-gaap:EarningsPerShareBasic" id="Fact_1d24ff156a214d1199cb11a68d6caa8d" contextRef="c20210101to20210630" unitRef="U003" decimals="2" sign="-" scale="0" format="ixt:numdotdecimal">2.14</ix:nonFraction></ix:nonFraction></div>
</td>
<td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
</tr>
</table>
</ix:continuation></ix:continuation>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div><br />
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
<div>
<ix:nonNumeric name="us-gaap:StockholdersEquityNoteDisclosureTextBlock" id="Text_876023d233e34c1aaf26d50905a7e2cb" contextRef="c20220101to20220630" escape="true" continuedAt="Text_c844b3b9699e4f5f849f62140e52599f1">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">8. Equity</div>
</ix:nonNumeric>
<ix:continuation id="Text_c844b3b9699e4f5f849f62140e52599f1" continuedAt="Text_c844b3b9699e4f5f849f62140e52599f2">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_c844b3b9699e4f5f849f62140e52599f2" continuedAt="Text_c844b3b9699e4f5f849f62140e52599f3">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_c844b3b9699e4f5f849f62140e52599f3" continuedAt="Text_c844b3b9699e4f5f849f62140e52599f4">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_c844b3b9699e4f5f849f62140e52599f4" continuedAt="Text_c844b3b9699e4f5f849f62140e52599f5">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">In conjunction with the Merger on
October 31, 2019, the Company issued <ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesAcquisitions" id="Fact_33a5b7319bcb411d853d0aadf3500bea" contextRef="c20191031to20191031_CounterpartyNameAxis_AssociatedCapitalGroupMember" unitRef="U001" decimals="0" scale="0" format="ixt:numdotdecimal">50,000,000</ix:nonFraction> shares of common stock to AC. The common stock, additional paid in capital,
earnings per share, and accumulated deficit amounts in these consolidated financial statements for the period prior to the Merger have been restated to reflect the recapitalization in accordance with the shares issued as a result of the
Merger.</div>
</ix:continuation>
<ix:continuation id="Text_c844b3b9699e4f5f849f62140e52599f5" continuedAt="Text_c844b3b9699e4f5f849f62140e52599f6">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br />
</span></div>
</ix:continuation>
<ix:continuation id="Text_c844b3b9699e4f5f849f62140e52599f6">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">See the Organization and Business
Description Note above for detail.</div>
</ix:continuation>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div><br />
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
<div>
<ix:nonNumeric name="us-gaap:CommitmentsContingenciesAndGuaranteesTextBlock" id="Text_d69e2c725c1649d4804c60080fc85f8c" contextRef="c20220101to20220630" escape="true" continuedAt="Text_f54531f4c34c46378672511adbf65e6d1">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">9. Guarantees,
Contingencies, and Commitments</div>
</ix:nonNumeric>
<ix:continuation id="Text_f54531f4c34c46378672511adbf65e6d1" continuedAt="Text_f54531f4c34c46378672511adbf65e6d2">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_f54531f4c34c46378672511adbf65e6d2" continuedAt="Text_f54531f4c34c46378672511adbf65e6d3">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_f54531f4c34c46378672511adbf65e6d3" continuedAt="Text_f54531f4c34c46378672511adbf65e6d4">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_f54531f4c34c46378672511adbf65e6d4" continuedAt="Text_f54531f4c34c46378672511adbf65e6d5">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company has agreed to
indemnify its clearing brokers for losses they may sustain from the customer accounts that trade on margin introduced by the Company. At June 30, 2022 and December 31, 2021, the total amount of customer balances subject to indemnification
(i.e., unsecured margin debits) was immaterial. The Company also has entered into arrangements with various other third parties, many of which provide for indemnification of the third parties against losses, costs, claims, and liabilities
arising from the performance of the Company’s obligations under the agreements. The Company has had no claims or payments pursuant to these or prior agreements, and management believes the likelihood of a claim being made is remote, and
therefore, an accrual has not been made in the consolidated financial statements.</div>
</ix:continuation>
<ix:continuation id="Text_f54531f4c34c46378672511adbf65e6d5" continuedAt="Text_f54531f4c34c46378672511adbf65e6d6">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_f54531f4c34c46378672511adbf65e6d6" continuedAt="Text_f54531f4c34c46378672511adbf65e6d7">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_f54531f4c34c46378672511adbf65e6d7" continuedAt="Text_f54531f4c34c46378672511adbf65e6d8">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_f54531f4c34c46378672511adbf65e6d8">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">From time to time, the Company is
named in legal actions and proceedings. These actions may seek substantial or indeterminate compensatory as well as punitive damages or injunctive relief. The Company is also subject to governmental or regulatory examinations or
investigations. The examinations or investigations could result in adverse judgments, settlements, fines, injunctions, restitutions, or other relief. The Company cannot predict the ultimate outcome of such matters. The consolidated
financial statements include the necessary provisions for losses that the Company believes are probable and estimable, if any. Furthermore, the Company evaluates whether losses exist which may be reasonably possible and, if material,
makes the necessary disclosures. Such amounts, both those that are probable and those that are reasonably possible, are not considered material to the Company’s financial condition, operations, or cash flows.</div>
</ix:continuation>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div><br />
</div>
<div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="DSPFPageBreakArea">
<div style="text-align: center;" class="DSPFPageNumberArea"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" class="DSPFPageNumber">12</span></div>
<div style="page-break-after: always;" class="DSPFPageBreak">
<hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" /></div>
<div style="width: 100%;" class="DSPFPageHeader">
<div><a href="#INDEX"><span style="font-size: 8pt; font-style: italic;">Index</span></a>
<div><br />
</div>
</div>
</div>
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
<div>
<ix:nonNumeric name="mghl:BrokerDealerNetCapitalRequirementTextBlock" id="Text_96515b86959549008d43d80f20b83a27" contextRef="c20220101to20220630" escape="true" continuedAt="Text_4a95263649bb4194a83d32bd8c69af351">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">10. Net Capital
Requirements</div>
</ix:nonNumeric>
<ix:continuation id="Text_4a95263649bb4194a83d32bd8c69af351" continuedAt="Text_4a95263649bb4194a83d32bd8c69af352">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_4a95263649bb4194a83d32bd8c69af352" continuedAt="Text_4a95263649bb4194a83d32bd8c69af353">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_4a95263649bb4194a83d32bd8c69af353" continuedAt="Text_4a95263649bb4194a83d32bd8c69af354">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_4a95263649bb4194a83d32bd8c69af354">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">As a registered broker-dealer,
G.research is subject to the SEC Uniform Net Capital Rule 15c3-1 (the “Rule”), which specifies, among other requirements, minimum net capital requirements for registered broker-dealers. G.research computes its net capital under the
alternative method as permitted by the Rule, which requires that minimum net capital be the greater of $250,000 or 2% of the aggregate debit items in the reserve formula for those broker-dealers subject to Rule 15c3-3. G.research is
exempt from Rule 15c3-3 pursuant to paragraph (k)(2)(ii) of that rule which exempts all customer transactions cleared through another broker-dealer on a fully disclosed basis. In addition, our assets at the clearing broker-dealer are
treated as allowable assets for net capital purposes as we have in place PAIB agreements pursuant to Rule 15c3-3. These requirements also provide that equity capital may not be withdrawn, advances to affiliates may not be made, or cash
dividends paid if certain minimum net capital requirements are not met. G.research had net capital, as defined, of $<ix:nonFraction name="srt:NetCapital" id="Fact_2cc4790368474ff1a5a97cd7764f6d22" contextRef="c20220630_BusinessAcquisitionAxis_GResearchLLCMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">1,848,638</ix:nonFraction>
and $<ix:nonFraction name="srt:NetCapital" id="Fact_04946105a98146ad8af38c2550c742b0" contextRef="c20211231_BusinessAcquisitionAxis_GResearchLLCMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">1,874,428</ix:nonFraction> exceeding the required amount of $250,000 by $<ix:nonFraction name="srt:AlternativeExcessNetCapital" id="Fact_2627b2148f3f4b13a6ec7dce18fca388" contextRef="c20220630_BusinessAcquisitionAxis_GResearchLLCMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">1,598,638</ix:nonFraction> and $<ix:nonFraction name="srt:AlternativeExcessNetCapital" id="Fact_b84dec8c505d4d8c93cd9199a1e4e867" contextRef="c20211231_BusinessAcquisitionAxis_GResearchLLCMember" unitRef="U002" decimals="0" scale="0" format="ixt:numdotdecimal">1,624,428</ix:nonFraction> June 30, 2022 and December 31,
2021, respectively.</div>
</ix:continuation>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
<div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br />
</div>
<ix:nonNumeric name="us-gaap:SubsequentEventsTextBlock" id="Text_9241bdf9b35c4358aaed105452a93fa3" contextRef="c20220101to20220630" escape="true" continuedAt="Text_5b2ed8f809a4459d924209c793f282321">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">11. Subsequent
Events</div>
</ix:nonNumeric>
<ix:continuation id="Text_5b2ed8f809a4459d924209c793f282321" continuedAt="Text_5b2ed8f809a4459d924209c793f282322">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_5b2ed8f809a4459d924209c793f282322" continuedAt="Text_5b2ed8f809a4459d924209c793f282323">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br />
</span> </div>
</ix:continuation>
<ix:continuation id="Text_5b2ed8f809a4459d924209c793f282323" continuedAt="Text_5b2ed8f809a4459d924209c793f282324">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
</ix:continuation>
<ix:continuation id="Text_5b2ed8f809a4459d924209c793f282324">
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company has evaluated
subsequent events for adjustment to or disclosure through August 15, 2022, the date of this report and the Company has not identified any subsequent events not otherwise reported in these financial statements or the notes thereto, that
required recognition or additional disclosures in the financial statements.</div>
</ix:continuation>
<div><br />
</div>
<div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="DSPFPageBreakArea">
<div style="text-align: center;" class="DSPFPageNumberArea"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" class="DSPFPageNumber">13</span></div>
<div style="page-break-after: always;" class="DSPFPageBreak">
<hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" /></div>
<div style="width: 100%;" class="DSPFPageHeader">
<div><a href="#INDEX"><span style="font-size: 8pt; font-style: italic;">Index</span></a>
<div><br />
</div>
</div>
</div>
</div>
<!--PROfilePageNumberReset%Num%14%%%--> </div>
</div>
</div>
</div>
</div>
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</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
<div>
<div>
<a id="ITEM2"><!--Anchor--></a>
<table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 45pt; vertical-align: top; font-weight: bold;">
<div>ITEM 2:</div>
</td>
<td style="width: auto; vertical-align: top; text-align: justify;">
<div style="font-weight: bold;">MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</div>
</td>
</tr>
</table>
<div> </div>
<div style="text-align: justify;"><a id="sB3807D893FD3C2DDC250B22D0FF6D778"></a>Unless indicated otherwise, or the context otherwise requires, references in this report to the “Company,” “<span style="color: #000000;">Morgan Group</span>,” “<span style="color: #000000;">Morgan</span>,” “we,” “us,” and “our” or similar terms are to <span style="color: #000000;">Morgan Group Holding Co.</span> and its subsidiary.</div>
<div><br />
</div>
<div style="font-weight: bold;">CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</div>
<div><br />
</div>
<div style="text-align: justify;">Our disclosure and analysis in this Form 10-Q contains some forward-looking statements. Forward-looking statements give our current expectations or forecasts of future events. You can identify these statements
because they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “will,” “should,” “may,” and other words and terms of similar meaning. They
also appear in any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance of our products, expenses, the outcome of any legal proceedings, and financial
results. Although we believe that we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know about our business and operations, there can be no assurance that our actual results will not
differ materially from what we expect or believe. We are providing these statements as permitted by the Private Litigation Reform Act of 1995. We do not undertake to update publicly any forward-looking statements if we subsequently learn that we
are unlikely to achieve our expectations or if we receive any additional information relating to the subject matters of our forward-looking statements.</div>
<div><br />
</div>
<div style="font-weight: bold;">OVERVIEW</div>
<div><br />
</div>
<div style="text-align: justify; font-style: italic;">The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the unaudited condensed consolidated financial statements and the
notes thereto included in Part I, Item 1 of this Form 10-Q. <span style="color: #000000;">This discussion contains forward-looking statements and involves numerous risks and uncertainties. Our actual results could differ materially from those
anticipated by such forward-looking statements as discussed under “Cautionary Statement Regarding Forward-Looking Statements” appearing elsewhere in this Form 10-Q.</span></div>
<div><br />
</div>
<div style="text-align: justify;">Morgan Group (OTC Pink®: MGHL), <span style="color: #000000;">through G.research, acts as an underwriter and provides institutional research services. Institutional research services revenues consist of brokerage
commissions derived from securities transactions executed on an agency basis or direct payments from institutional clients as well as underwriting profits, selling concessions and management fees associated with underwriting activities.
Commission revenues vary directly with the perceived value of the research provided, as well as account activity and new account generation.</span></div>
<div style="text-align: justify;"><br />
</div>
<div><span style="color: #000000;">In light of the dynamics created by COVID-19 and its impact on the global supply chain and banks, oil, travel and leisure including the temporary closure of businesses deemed non-essential across the United
States, we anticipate lower transaction volumes from our institutional clients. As a result of this pandemic, the majority of our employees are working remotely, including our order execution services. However, there has been no material impact
of remote work arrangements on our operations, including our financial reporting systems, internal control over financial reporting, and disclosure controls and procedures, and there has been no material challenge in implementing our business
continuity plan. The sponsored conferences are taking place as planned using virtual service providers. While at the present time, the Company is unable to estimate the potential impact of COVID-19 on its financial condition, a significant
prolonged disruption in the financial markets leading to materially lower trading activity of the Company’s clients would have a material adverse effect on the Company’s revenue, operating results and financial position. </span>Any potential
impact to our results of operations and financial condition will depend to a large extent on future developments and new information that could emerge regarding the duration and severity of COVID-19 and the actions taken by authorities and other
entities to contain COVID-19 or treat its impact, all of which are beyond our control. <span style="color: #000000;">We will continue to monitor the virus’ impact on our customers, clients, and financial results.</span></div>
<div>
<div style="text-align: justify;"><br />
</div>
</div>
<div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="DSPFPageBreakArea">
<div style="text-align: center;" class="DSPFPageNumberArea"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" class="DSPFPageNumber">14</span></div>
<div style="page-break-after:always;" class="DSPFPageBreak">
<hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" /></div>
<div style="width: 100%;" class="DSPFPageHeader">
<div><a href="#INDEX"><span style="font-size: 8pt; font-style: italic;">Index</span></a>
<div><br />
</div>
</div>
</div>
</div>
<div style="font-weight: bold;">RESULTS OF OPERATIONS</div>
<div><br />
</div>
<div style="text-align: justify;">The following table (in thousands, except per share data) and discussion of our results of operations are based upon data derived from the Condensed Consolidated Statements of Income contained in our condensed
consolidated financial statements and should be read in conjunction with those statements included in Part I, Item 1 of this Form 10-Q:</div>
<div><br />
</div>
<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" class="cfttable">
<tr>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt; white-space: nowrap;"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="6">
<div style="text-align: center; color: #000000; font-weight: bold;">Three Months Ended June 30,</div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="6">
<div style="text-align: center; color: #000000; font-weight: bold;">Six Months Ended June 30,</div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt; white-space: nowrap;"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: #000000; font-weight: bold;"> 2022</div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: #000000; font-weight: bold;">2021</div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: #000000; font-weight: bold;">2022</div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: #000000; font-weight: bold;">2021</div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Revenues</div>
</td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" colspan="2"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" colspan="2"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" colspan="2"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" colspan="2"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 18pt;">Commissions</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">450</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">566</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">953</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">1,222</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 18pt;">Principal transactions</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">7</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">(2</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">7</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">(5</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 18pt;">Dividends and interest</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">9</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">3</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">14</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">12</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 18pt;">Underwriting fees</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">-</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">-</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">-</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">6</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 18pt;">Other revenues</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">9</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">17</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">9</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">27</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Total revenues</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">475</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">584</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">984</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">1,263</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Expenses</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 18pt;">Compensation and related costs</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">293</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">627</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">621</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">1,315</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 18pt;">Clearing charges</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">228</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">164</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">458</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">350</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 18pt;">General and administrative</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">237</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">430</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">462</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1">
<div style="color: #000000;">718</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 18pt;">Occupancy and equipment</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">68</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">85</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">141</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">163</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Total expenses</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">827</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">1,305</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">1,682</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">2,546</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Loss before income tax benefit</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">(351</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">(721</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">(698</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">(1,283</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Income tax benefit</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">-</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">-</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">-</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">-</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Net loss</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">(351</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">(721</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">(698</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">(1,283</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; text-indent: -9pt; margin-left: 9pt; white-space: nowrap;"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Net loss per share</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Basic and diluted</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">(0.59</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">(1.20</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">(1.16</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">(2.14</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
</tr>
</table>
<div><br />
</div>
<div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="DSPFPageBreakArea">
<div style="text-align: center;" class="DSPFPageNumberArea"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" class="DSPFPageNumber">15</span></div>
<div style="page-break-after:always;" class="DSPFPageBreak">
<hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" /></div>
<div style="width: 100%;" class="DSPFPageHeader">
<div><a href="#INDEX"><span style="font-size: 8pt; font-style: italic;">Index</span></a>
<div><br />
</div>
</div>
</div>
</div>
<div style="text-align: justify; color: #000000; font-weight: bold;">Three Months Ended June 30, 2022 as Compared to the Three Months Ended June 30, 2021</div>
<div><br />
</div>
<div style="text-align: justify; color: #000000; font-style: italic; font-weight: bold;">Revenues</div>
<div><br />
</div>
<div style="text-align: justify; color: #000000;">Institutional research service revenues were $0.5 million for the three months ended June 30, 2022, $0.1 million, or 20.6%, lower than total revenues of $0.6 million for the three months ended June
30, 2021. Institutional research services revenues by revenue component, excluding principal transactions and dividends and interest, were as follows (dollars in thousands):</div>
<div style="text-align: justify; color: #000000;"> <br />
</div>
<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" class="cfttable">
<tr>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt; white-space: nowrap;"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="6">
<div style="text-align: center; color: #000000; font-weight: bold;">Three Months Ended June 30,</div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="6">
<div style="text-align: center; color: #000000; font-weight: bold;">Increase (Decrease)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(255, 255, 255); text-indent: -9pt; margin-left: 9pt; white-space: nowrap;"> </td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(255, 255, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255); white-space: nowrap;" colspan="2">
<div style="text-align: center;"> <span style="font-weight: bold;">2022</span></div>
</td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(255, 255, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(255, 255, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: bold; white-space: nowrap;" colspan="2">
<div style="text-align: center;">2021</div>
</td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(255, 255, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(255, 255, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255); text-align: center; font-weight: bold; white-space: nowrap;" colspan="2">$</td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(255, 255, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(255, 255, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255); white-space: nowrap;" colspan="1">
<div><br />
</div>
</td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: bold; white-space: nowrap;" colspan="1">
<div style="text-align: center;">%</div>
</td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(255, 255, 255); white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Commissions</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">421</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">493</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">(72</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">-14.7</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">%</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Hard dollar payments</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">29</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">74</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">(44</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">-60.4</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">%</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255); text-indent: -9pt; margin-left: 9pt; white-space: nowrap;"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">450</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">566</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">(117</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">-20.6</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">%</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Underwriting fees</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">-</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">-</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">-</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">n/a</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Total</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">450</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">566</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">(117</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">-20.6</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">%</div>
</td>
</tr>
</table>
<div><br />
</div>
<div style="color: #000000;">Commissions and hard dollar payments for the three months ended June 30, 2022 were $0.5 million, a $0.6 million, or 20.6%, decrease from $0.1 million in the comparable 2021 period. The decrease was primarily due to
lower brokerage commissions from securities transactions executed on an agency basis. For the three months ended June 30, 2022 and 2021, respectively, G.research earned $0.3 million and $0.3 million, or approximately 58% and 52%, of its
commission revenue from transactions executed on behalf of funds advised by Gabelli Funds, LLC (“Gabelli Funds”) and clients advised by GAMCO Asset Management Inc. (“GAMCO Asset”).</div>
<div><br />
</div>
<div style="color: #000000; font-style: italic; font-weight: bold;">Principal Transactions</div>
<div><br />
</div>
<div style="text-align: justify; color: #000000;">During the three months ended June 30, 2022 and 2021, net gains from principal transactions were negligible.</div>
<div><br />
</div>
<div style="text-align: justify; color: #000000;">Interest and dividend increased to $0.01 million for the three months ended June 30, 2022 primarily due to a slight increase in short-term interest rates.</div>
<div><br />
</div>
<div style="text-align: justify; color: #000000; font-style: italic; font-weight: bold;">Expenses</div>
<div><br />
</div>
<div style="text-align: justify; color: #000000;">Total expenses were $0.8 million for the three months ended June 30, 2022, a decrease of $0.5 million, or 36.7%, from $1.3 million in the comparable 2021 period. The decrease results primarily from
lower compensation and related costs along with general and administrative expenses reductions.</div>
<div><br />
</div>
<div style="text-align: justify; color: #000000;">Compensation costs, which includes salaries, bonuses, and benefits, were $0.3 million for the three months ended June 30, 2022, a decrease of $0.3 million from $0.6 million for the three months
ended June 30, 2021. The decrease was due to headcount reductions and lower commission expense in line with lower commission revenues.</div>
<div><br />
</div>
<div style="color: #000000; font-style: italic; font-weight: bold;">Income Tax Benefit</div>
<div><br />
</div>
<div style="text-align: justify;"><span style="color: #000000;">For the three months ended June 30, 2022 and 2021, we recorded income tax benefits of $0.0 million and $0.0 million, respectively, and the </span>effective tax rate (“ETR”) <span style="color: #000000;">was 0.0% and 0.0%, respectively.</span> The ETR differs from the U.S. corporate rate of 21%, for all periods, due to state taxes and a valuation allowance recorded on the deferred tax assets, mainly net operating loss
carryforwards.</div>
<div><br />
</div>
<div style="color: #000000; font-style: italic; font-weight: bold;">Net Loss</div>
<div><br />
</div>
<div style="text-align: justify; color: #000000;">Net loss for the three months ended June 30, 2022 was $0.4 million versus $0.7 million for the three months ended June 30, 2021</div>
<div style="text-align: justify; color: #000000;">.</div>
<div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="DSPFPageBreakArea">
<div style="text-align: center;" class="DSPFPageNumberArea"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" class="DSPFPageNumber">16</span></div>
<div style="page-break-after:always;" class="DSPFPageBreak">
<hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" /></div>
<div style="width: 100%;" class="DSPFPageHeader">
<div><a href="#INDEX"><span style="font-size: 8pt; font-style: italic;">Index</span></a>
<div><br />
</div>
</div>
</div>
</div>
<div style="text-align: justify; color: #000000; font-weight: bold;">Six Months Ended June 30, 2022 as Compared to the Six Months Ended June 30, 2021</div>
<div><br />
</div>
<div style="text-align: justify; color: #000000; font-style: italic; font-weight: bold;">Revenues</div>
<div><br />
</div>
<div style="text-align: justify; color: #000000;">Institutional research service revenues were $1.0 million for six months ended June 30, 2022, $0.2 million, or 22.0%, lower than total revenues of $1.2 million for the six months ended June 30,
2021. Institutional research services revenues by revenue component, excluding principal transactions and dividends and interest, were as follows (dollars in thousands):</div>
<div><br />
</div>
<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" class="cfttable">
<tr>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt; white-space: nowrap;"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="6">
<div style="text-align: center; color: #000000; font-weight: bold;">Six Months Ended June 30,</div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="6">
<div style="text-align: center; color: #000000; font-weight: bold;">Increase (Decrease)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(255, 255, 255); text-indent: -9pt; margin-left: 9pt; white-space: nowrap;"> </td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(255, 255, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255); white-space: nowrap;" colspan="2">
<div style="text-align: center;"> <span style="font-weight: bold;">2022</span></div>
</td>
<td valign="bottom" style="text-align: center; vertical-align: bottom; background-color: rgb(255, 255, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(255, 255, 255); text-align: center; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: bold; white-space: nowrap;" colspan="2">
<div style="text-align: center;">2021</div>
</td>
<td valign="bottom" style="text-align: center; vertical-align: bottom; background-color: rgb(255, 255, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(255, 255, 255); text-align: center; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255); text-align: center; font-weight: bold; white-space: nowrap;" colspan="2">$</td>
<td valign="bottom" style="text-align: center; vertical-align: bottom; background-color: rgb(255, 255, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(255, 255, 255); text-align: center; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255); white-space: nowrap;" colspan="1">
<div><br />
</div>
</td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: bold; white-space: nowrap;" colspan="1">
<div style="text-align: center;">%</div>
</td>
<td valign="bottom" style="vertical-align: bottom; background-color: rgb(255, 255, 255); white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Commissions</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">881</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">1,084</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">(204</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">-18.8</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">%</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Hard dollar payments</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">73</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">138</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">(65</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">-47.1</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">%</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255); text-indent: -9pt; margin-left: 9pt; white-space: nowrap;"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">953</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">1,222</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">(269</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">-22.0</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">%</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Underwriting fees</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">-</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">6</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">(6</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">-100.0</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1">
<div style="color: #000000;">%</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Total</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">953</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">1,228</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">(275</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">-22.4</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" colspan="1">
<div style="color: #000000;">%</div>
</td>
</tr>
</table>
<div><br />
</div>
<div style="color: #000000;">Commissions and hard dollar payments in the 2022 period were $1.0 million, a $0.2 million, or 22.0%, decrease from $1.2 million in the comparable 2021 period. The decrease was primarily due to lower brokerage
commissions from securities transactions executed on an agency basis. For the six months ended June 30, 2022, respectively, G.research earned $0.5 million and $0.7 million, or approximately 56% and 54%, of its commission revenue from transactions
executed on behalf of funds advised by Gabelli Funds and clients advised by GAMCO Asset.</div>
<div><br />
</div>
<div style="color: #000000; font-style: italic; font-weight: bold;">Principal Transactions</div>
<div><br />
</div>
<div style="text-align: justify; color: #000000;">During the six months ended June 30, 2022 and 2021, net losses from principal transactions were negligible.</div>
<div><br />
</div>
<div style="text-align: justify; color: #000000;">Interest and dividend income remained steady at $0.01 million over the six months ended June 30, 2022 from the comparable 2021 period as a slight increase in short-term interest rates offset lower
cash and cash equivalents balances.</div>
<div><br />
</div>
<div style="text-align: justify; color: #000000; font-style: italic; font-weight: bold;">Expenses</div>
<div><br />
</div>
<div style="text-align: justify; color: #000000;">Total expenses were $1.7 million for the six months ended June 30, 2022, a decrease of $0.8 million, or 33.9%, from $2.5 million in the comparable 2021 period. The decrease results primarily from
lower compensation and related costs and a reductions in general and administrative costs.</div>
<div><br />
</div>
<div style="text-align: justify; color: #000000;">Compensation costs, which includes salaries, bonuses, and benefits, were $0.6 million for the six months ended June 30, 2022, a decrease of $0.7 million from $1.3 million for the six months ended
June 30, 2021. The decrease was due to headcount reductions and a decrease in commission expense driven by lower commission income.</div>
<div><br />
</div>
<div style="text-align: justify; color: #000000;">Clearing expenses increased by $0.1 million to $0.5 million for the six months ended June 30, 2022 from $0.4 million for the same period in 2021. The increase was due to a modification in clearing
broker terms.</div>
<div><br />
</div>
<div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="DSPFPageBreakArea">
<div style="text-align: center;" class="DSPFPageNumberArea"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" class="DSPFPageNumber">17</span></div>
<div style="page-break-after:always;" class="DSPFPageBreak">
<hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" /></div>
<div style="width: 100%;" class="DSPFPageHeader">
<div><a href="#INDEX"><span style="font-size: 8pt; font-style: italic;">Index</span></a>
<div><br />
</div>
</div>
</div>
</div>
<div style="color: #000000; font-style: italic; font-weight: bold;">Income Tax Benefit</div>
<div><br />
</div>
<div style="text-align: justify;"><span style="color: #000000;">For the six months ended June 30, 2022 and 2021, we recorded income tax benefits of $0.0 million and $0.0 million, respectively, and the </span>ETR <span style="color: #000000;">was
0.0% and 0.0%, respectively. </span> The ETR differs from the U.S. corporate rate of 21%, for all periods, due to state taxes and a valuation allowance recorded on the deferred tax assets, mainly net operating loss carryforwards.</div>
<div><br />
</div>
<div style="color: #000000; font-style: italic; font-weight: bold;">Net Loss</div>
<div><br />
</div>
<div style="text-align: justify; color: #000000;">Net loss for the six months ended June 30, 2022 was $0.7 million versus $1.3 million for the six months ended June 30, 2021.</div>
<div><br />
</div>
<div style="text-align: justify; font-weight: bold;">LIQUIDITY AND CAPITAL RESOURCES</div>
<div><br />
</div>
<div style="text-align: justify;">Our principal assets are highly liquid in nature and consist of cash and cash equivalents, comprised primarily of a 100% U.S. Treasury money market fund, <span style="color: #000000;">The Gabelli U.S. Treasury
Money Market Fund, advised by Gabelli Funds, LLC, which is an affiliate of the Company</span>. Summary cash flow data for the first six months of 2022 and 2021 was as follows (in thousands):</div>
<div><br />
</div>
<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" class="cfttable">
<tr>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt; white-space: nowrap;"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="6">
<div style="text-align: center; color: #000000; font-weight: bold;">Six months ended June 30,</div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt; white-space: nowrap;"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: #000000; font-weight: bold;"> 2021</div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" colspan="2">
<div style="text-align: center; color: #000000; font-weight: bold;">2020</div>
</td>
<td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Cash flows provided by (used in) activities:</div>
</td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" colspan="2"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" colspan="2"> </td>
<td valign="bottom" style="vertical-align: bottom; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 18pt;">Operating activities</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">(389</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">(1,460</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 18pt;">Financing activities</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">-</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">-</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Net decrease in cash and cash equivalents</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">(389</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">(1,460</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">)</div>
</td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Cash and cash equivalents, beginning of period</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">2,889</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" colspan="1">
<div style="color: #000000;">4,746</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" colspan="1"> </td>
</tr>
<tr>
<td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;">
<div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 9pt;">Cash and cash equivalents, end of period</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">2,500</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">$</div>
</td>
<td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1">
<div style="color: #000000;">3,287</div>
</td>
<td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" colspan="1"> </td>
</tr>
</table>
<div><br />
</div>
<div style="text-align: justify; color: #000000;">As of June 30, 2022 the Company had cash and cash equivalents of $2.5 million. Net cash used by operating activities was $0.4 million for the six months ended June 30, 2022, resulting from a net
loss of $0.7 million and net decrease in operating liabilities of $0.1 million and an increase in operating assets of $0.4 million. As of June 30, 2021, we had cash and cash equivalents of $3.2 million, a decrease of $1.6 million from December
31, 2020, primarily due to the Company’s operating activities.</div>
<div><br />
</div>
<div style="color: #000000; font-weight: bold;">Critical Accounting Policies</div>
<div><br />
</div>
<div style="text-align: justify;">The preparation of the condensed consolidated financial statements in conformity with <span style="color: #000000;">accounting principles generally accepted in the United States </span>requires management to make
estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dates of the condensed consolidated financial statements and the reported amounts of revenues and
expenses during the reporting periods presented. Actual results could differ significantly from those estimates. See Note B in Part II, Item 8, <span style="font-style: italic;">Financial Statements and Supplementary Data</span>, and the
Company’s Critical Accounting Policies in Part II, Item 7, <span style="font-style: italic;">Management’s Discussion and Analysis of Financial Condition and Results of Operations</span>, in Morgan Group’s 2021 annual report on Form 10-K filed
with the SEC on April 1, 2022 for details on Critical Accounting Policies.</div>
<div><br />
</div>
<a id="ITEM3."><!--Anchor--></a>
<table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 45pt; vertical-align: top; font-weight: bold;">ITEM 3.</td>
<td style="width: auto; vertical-align: top;">
<div style="font-weight: bold;">QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</div>
</td>
</tr>
</table>
<div> </div>
<div style="text-align: justify;">Smaller reporting companies are not required to provide the information required by this item.</div>
<div style="text-align: justify;"> <br />
</div>
<div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="DSPFPageBreakArea">
<div style="text-align: center;" class="DSPFPageNumberArea"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" class="DSPFPageNumber">18</span></div>
<div style="page-break-after:always;" class="DSPFPageBreak">
<hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" /></div>
<div style="width: 100%;" class="DSPFPageHeader">
<div><a href="#INDEX"><span style="font-size: 8pt; font-style: italic;">Index</span></a>
<div><br />
</div>
</div>
</div>
</div>
<a id="ITEM4."><!--Anchor--></a>
<table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 45pt; vertical-align: top; font-weight: bold;">ITEM 4.</td>
<td style="width: auto; vertical-align: top;">
<div style="font-weight: bold;">CONTROLS AND PROCEDURES</div>
</td>
</tr>
</table>
<div> </div>
<div style="text-align: justify; color: #000000;">The Company maintains a system of disclosure controls and procedures that is designed to provide reasonable assurance that information, which is required to be timely disclosed, is recorded,
processed, summarized, and reported to management within the time periods specified in Rules 13a-15(e) and 15d-15(e) of the Exchange Act. The Company’s principal executive officer and principal financial officer, after evaluating the
effectiveness of the Company’s disclosure controls and procedures (as defined in the Exchange Act) as of the end of the period covered by this report, have concluded that the Company’s disclosure controls and procedures are effective to provide
reasonable assurance that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the Company’s management, including its principal executive officer
and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure and are effective to provide reasonable assurance that such information is recorded, processed, summarized and reported within the time
periods specified in the SEC’s rules and forms.</div>
<div><br />
</div>
<div style="text-align: justify;">There have been no changes in our internal control over financial reporting, as defined by Rule 13a-15(f) that occurred during our most recently completed fiscal quarter that have materially affected, or are
reasonably likely to materially affect, our internal control over financial reporting.</div>
<div> </div>
<table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 45pt; vertical-align: top; font-weight: bold;">PART II:</td>
<td style="width: auto; vertical-align: top;">
<div style="font-weight: bold;">OTHER INFORMATION</div>
</td>
</tr>
</table>
<div> </div>
<a id="ITEM1."><!--Anchor--></a>
<table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 45pt; vertical-align: top; font-weight: bold;">ITEM 1.</td>
<td style="width: auto; vertical-align: top; text-align: justify;">
<div style="font-weight: bold;">LEGAL PROCEEDINGS</div>
</td>
</tr>
</table>
<div> </div>
<div style="text-align: justify;">From time to time, the Company may be named in legal actions and proceedings. These actions may seek substantial or indeterminate compensatory as well as punitive damages or injunctive relief. The Company is also
subject to governmental or regulatory examinations or investigations. The examinations or investigations could result in adverse judgments, settlements, fines, injunctions, restitutions or other relief. For any such matters, the condensed
consolidated financial statements include the necessary provisions for losses that the Company believes are probable and estimable. Furthermore, the Company evaluates whether there exist losses which may be reasonably possible and will, if
material, make the necessary disclosures. However, management believes such amounts, both those that are probable and those that are reasonably possible, are not material to the Company’s financial condition, results of operations, or cash flows
at June 30, 2022. See also Note 9, <span style="font-style: italic;">Guarantees, Contingencies, and Commitments</span>, to the condensed consolidated financial statements in Part I, Item I of this Form 10-Q.</div>
<div> </div>
<a id="ITEM1A."><!--Anchor--></a>
<table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 45pt; vertical-align: top; font-weight: bold;">ITEM 1A.</td>
<td style="width: auto; vertical-align: top; text-align: justify;">
<div style="font-weight: bold;">RISK FACTORS</div>
</td>
</tr>
</table>
<div> </div>
<div style="text-align: justify;">Smaller reporting companies are not required to provide the information required by this item.</div>
<div> </div>
<a id="ITEM"><!--Anchor--></a>
<table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 45pt; vertical-align: top; font-weight: bold;">ITEM 6.</td>
<td style="width: auto; vertical-align: top;">
<div style="font-weight: bold;">EXHIBITS</div>
</td>
</tr>
</table>
<div><br />
</div>
<div>
<div>
<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 10.45pt; vertical-align: top; align: right;"><br />
</td>
<td style="width: 25.55pt; vertical-align: top; align: right;"><a href="brhc10040602_ex31-1.htm">31.1</a></td>
<td style="width: auto; vertical-align: top;">Certification of CEO pursuant to Rule 13a-14(a).</td>
</tr>
</table>
</div>
</div>
<div><br />
</div>
<div>
<div>
<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 10.45pt; vertical-align: top; align: right;"><br />
</td>
<td style="width: 25.55pt; vertical-align: top; align: right;"><a href="brhc10040602_ex31-2.htm">31.2</a></td>
<td style="width: auto; vertical-align: top;">Certification of CAO pursuant to Rule 13a-14(a).</td>
</tr>
</table>
</div>
</div>
<div><br />
</div>
<div>
<div>
<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 10.45pt; vertical-align: top; align: right;"><br />
</td>
<td style="width: 25.55pt; vertical-align: top; align: right;"><a href="brhc10040602_ex32-1.htm">32.1</a></td>
<td style="width: auto; vertical-align: top;">Certification of CEO pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</td>
</tr>
</table>
</div>
</div>
<div><br />
</div>
<div>
<div>
<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 10.45pt; vertical-align: top; align: right;"><br />
</td>
<td style="width: 25.55pt; vertical-align: top; align: right;"><a href="brhc10040602_ex32-2.htm">32.2</a></td>
<td style="width: auto; vertical-align: top;">Certification of CAO pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002.</td>
</tr>
</table>
</div>
</div>
<div><br />
</div>
<table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 45pt; vertical-align: top;">101.INS</td>
<td style="width: auto; vertical-align: top;">
<div>XBRL Instance Document</div>
</td>
</tr>
</table>
<div> <br />
</div>
<table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 45pt; vertical-align: top;">101.SCH</td>
<td style="width: auto; vertical-align: top;">
<div>XBRL Taxonomy Extension Schema Document</div>
</td>
</tr>
</table>
<div> <br />
</div>
<table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 45pt; vertical-align: top;">101.CAL</td>
<td style="width: auto; vertical-align: top;">
<div>XBRL Taxonomy Extension Calculation Linkbase Document</div>
</td>
</tr>
</table>
<div> <br />
</div>
<table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 45pt; vertical-align: top;">101.DEF</td>
<td style="width: auto; vertical-align: top;">
<div>XBRL Taxonomy Extension Definition Linkbase Document</div>
</td>
</tr>
</table>
<div> <br />
</div>
<table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 45pt; vertical-align: top;">101.LAB</td>
<td style="width: auto; vertical-align: top;">
<div>  XBRL Taxonomy Extension Label Linkbase Document</div>
</td>
</tr>
</table>
<div style="text-indent: -45pt; margin-left: 45pt;"><br />
</div>
<table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 45pt; vertical-align: top;">101.PRE</td>
<td style="width: auto; vertical-align: top;">
<div>XBRL Taxonomy Extension Presentation Linkbase Document</div>
</td>
</tr>
</table>
<div><br />
</div>
<div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="DSPFPageBreakArea">
<div style="text-align: center;" class="DSPFPageNumberArea"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" class="DSPFPageNumber">19</span></div>
<div style="page-break-after:always;" class="DSPFPageBreak">
<hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" /></div>
<div style="width: 100%;" class="DSPFPageHeader">
<div><a href="#INDEX"><span style="font-size: 8pt; font-style: italic;">Index</span></a>
<div><br />
</div>
</div>
</div>
</div>
<div style="font-weight: bold;"><a id="SIGNATUR"><!--Anchor--></a>SIGNATURE</div>
<div><br />
</div>
<div>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</div>
<div><br />
</div>
<table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">
<tr>
<td style="width: 99.9%; vertical-align: top;">
<div><span style="text-decoration: underline;">MORGAN GROUP HOLDING CO.</span></div>
</td>
</tr>
<tr>
<td style="width: 99.9%; vertical-align: top;">
<div>(Registrant)</div>
</td>
</tr>
<tr>
<td style="width: 99.9%; vertical-align: top;"> </td>
</tr>
<tr>
<td style="width: 99.9%; vertical-align: top;">
<div><span style="text-decoration: underline;">By: /s/ Joseph L. Fernandez</span></div>
</td>
</tr>
<tr>
<td style="width: 99.9%; vertical-align: top;">
<div>Name: Joseph L. Fernandez</div>
</td>
</tr>
<tr>
<td style="width: 99.9%; vertical-align: top;">
<div>Title:   Executive Vice President - Finance</div>
</td>
</tr>
<tr>
<td style="width: 99.9%; vertical-align: top;"> </td>
</tr>
<tr>
<td style="width: 99.9%; vertical-align: top;">
<div>Date: August 15, 2022</div>
</td>
</tr>
</table>
<div><br />
</div>
<div><br />
</div>
<div style="text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;" class="DSPFPageNumber">20</span> </div>
</div>
<div>
<hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; border: none; margin-left: auto; margin-right: auto;" /> </div>
</div>
</div>
</body>
</html>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>2
<FILENAME>brhc10040602_ex31-1.htm
<DESCRIPTION>EXHIBIT 31.1
<TEXT>
<html>
<head>
<title></title>
<!-- Licensed to: Broadridge
Document created using Broadridge PROfile 22.7.2.5062
Copyright 1995 - 2022 Broadridge -->
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
<div style="text-align: right; font-family: 'Times New Roman', serif; font-size: 10pt;">
<hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">Exhibit 31.1</div>
<div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;"> </div>
<div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 10pt;">Certification</div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;"> </div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;">I, <font style="font-family: 'Times New Roman', serif; font-size: 10pt; color: #000000;">Vincent Amabile, Jr.</font>, certify that:</div>
<div><br>
</div>
<div>
<div>
<table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="z36204d442e6a4f9b8a0ab67f37f83b5b" class="DSPFListTable">
<tr style="vertical-align: top;">
<td style="width: 27pt;"> </td>
<td style="vertical-align: top; width: 18pt;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">1.</div>
</td>
<td style="align: left; vertical-align: top; width: auto;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">I have reviewed this <font style="font-family: 'Times New Roman', serif; font-size: 10pt; color: #000000;">quarterly </font>report on Form 10-Q of <font style="font-family: 'Times New Roman', serif; font-size: 10pt; color: #000000;">Morgan Group Holding Co.</font>;</div>
</td>
</tr>
</table>
</div>
</div>
<div> </div>
<table cellspacing="0" cellpadding="0" id="z601f99eb36e44d05b203f809aff64a25" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 27.1pt;"><br>
</td>
<td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', serif; font-size: 10pt;">2.</td>
<td style="width: auto; vertical-align: top; text-align: justify;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of
the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</div>
</td>
</tr>
</table>
<div> </div>
<table cellspacing="0" cellpadding="0" id="z40d5e5f7a37147d7aa5c8108a7818e94" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 27.1pt;"><br>
</td>
<td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', serif; font-size: 10pt;">3.</td>
<td style="width: auto; vertical-align: top; text-align: justify;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition,
results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</div>
</td>
</tr>
</table>
<div> </div>
<table cellspacing="0" cellpadding="0" id="za929e692f0db42cf9a8bea9efb3a4c55" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 27.1pt;"><br>
</td>
<td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', serif; font-size: 10pt;">4.</td>
<td style="width: auto; vertical-align: top; text-align: justify;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)
and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</div>
</td>
</tr>
</table>
<div> </div>
<table cellspacing="0" cellpadding="0" id="zf0af7585911449eebb75574ae42d20c2" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 45.1pt;"><br>
</td>
<td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', serif; font-size: 10pt;">a)</td>
<td style="width: auto; vertical-align: top; text-align: justify;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information
relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</div>
</td>
</tr>
</table>
<div> </div>
<table cellspacing="0" cellpadding="0" id="z376fc2e9925b4d7da5166efd37fc3b8c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 45.1pt;"><br>
</td>
<td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', serif; font-size: 10pt;">b)</td>
<td style="width: auto; vertical-align: top; text-align: justify;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</div>
</td>
</tr>
</table>
<div> </div>
<table cellspacing="0" cellpadding="0" id="z9ad9a53ab1994615961c40263d49a802" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 45.1pt;"><br>
</td>
<td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', serif; font-size: 10pt;">c)</td>
<td style="width: auto; vertical-align: top; text-align: justify;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure
controls and procedures, as of the end of the period covered by this report based on such evaluation; and</div>
</td>
</tr>
</table>
<div> </div>
<table cellspacing="0" cellpadding="0" id="zc2740fd1ea6b4f0ba4ac6902d68361e1" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
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<td style="width: 45.1pt;"><br>
</td>
<td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', serif; font-size: 10pt;">d)</td>
<td style="width: auto; vertical-align: top; text-align: justify;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the
registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and</div>
</td>
</tr>
</table>
<div> </div>
<table cellspacing="0" cellpadding="0" id="zb9ca8983e6ed4a68abf3b7a349d128bf" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 27.1pt;"><br>
</td>
<td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', serif; font-size: 10pt;">5.</td>
<td style="width: auto; vertical-align: top; text-align: justify;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors
and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):</div>
</td>
</tr>
</table>
<div> </div>
<table cellspacing="0" cellpadding="0" id="zf327952c98a1404eb9161d6fa1d64529" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 45.1pt;"><br>
</td>
<td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', serif; font-size: 10pt;">a)</td>
<td style="width: auto; vertical-align: top; text-align: justify;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect
the registrant’s ability to record, process, summarize and report financial data; and</div>
</td>
</tr>
</table>
<div> </div>
<table cellspacing="0" cellpadding="0" id="zc4a68537317f4bfcb2ad998709122e88" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 45.1pt;"><br>
</td>
<td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', serif; font-size: 10pt;">b)</td>
<td style="width: auto; vertical-align: top; text-align: justify;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.</div>
</td>
</tr>
</table>
<div> </div>
<div><br>
</div>
<table cellspacing="0" cellpadding="0" id="zfe37c9dcc60545038b60c11a2c64fb48" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 64.88%; vertical-align: top;">
<div style="text-align: right; font-family: 'Times New Roman', serif; font-size: 10pt;">By:</div>
</td>
<td style="width: 35.12%; vertical-align: top; border-bottom: #000000 2px solid;" colspan="2">
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;"> /s/ <font style="font-family: 'Times New Roman', serif; font-size: 10pt; color: #000000;">Vincent Amabile, Jr.</font></div>
</td>
</tr>
<tr>
<td style="width: 64.88%; vertical-align: top;">
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;"> </div>
</td>
<td style="width: 35.12%; vertical-align: top;" colspan="2">
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">Vincent Amabile, Jr.</div>
</td>
</tr>
<tr>
<td style="width: 64.88%; vertical-align: top;">
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;"> </div>
</td>
<td style="width: 35.12%; vertical-align: top;" colspan="2">
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;">Chief Executive Officer</div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;">(Principal Executive Officer)</div>
</td>
</tr>
<tr>
<td style="width: 64.88%; vertical-align: top;" rowspan="1"> </td>
<td style="width: 35.12%; vertical-align: top;" colspan="2" rowspan="1"> </td>
</tr>
<tr>
<td style="width: 64.88%; vertical-align: top;" rowspan="1"> </td>
<td style="width: 35.12%; vertical-align: top;" colspan="2" rowspan="1">Date: August 15, 2022</td>
</tr>
</table>
<div><br>
</div>
<div>
<hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>3
<FILENAME>brhc10040602_ex31-2.htm
<DESCRIPTION>EXHIBIT 31.2
<TEXT>
<html>
<head>
<title></title>
<!-- Licensed to: Broadridge
Document created using Broadridge PROfile 22.7.2.5062
Copyright 1995 - 2022 Broadridge -->
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
<div>
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<div style="text-align: right; font-family: 'Times New Roman', serif; font-size: 10pt;">
<hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">Exhibit 31.2</div>
</div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;"> </div>
<div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 10pt;">Certification</div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;"> </div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;">I, <font style="font-family: 'Times New Roman', serif; font-size: 10pt; color: #000000;">Joseph L Fernandez</font>, certify that:</div>
<div><br>
</div>
<div>
<div>
<table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="zc1803f3181be4148914ec02139965746" class="DSPFListTable">
<tr style="vertical-align: top;">
<td style="width: 27pt;"> </td>
<td style="vertical-align: top; width: 18pt;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">6.</div>
</td>
<td style="align: left; vertical-align: top; width: auto;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">I have reviewed this <font style="font-family: 'Times New Roman', serif; font-size: 10pt; color: #000000;">quarterly </font>report on Form 10-Q of <font style="font-family: 'Times New Roman', serif; font-size: 10pt; color: #000000;">Morgan Group Holding Co.</font>;</div>
</td>
</tr>
</table>
</div>
</div>
<div> </div>
<div>
<div>
<table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="zf60b572c16094c178547d1ed186c71d9" class="DSPFListTable">
<tr style="vertical-align: top;">
<td style="width: 27pt;"> </td>
<td style="vertical-align: top; width: 18pt;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">7.</div>
</td>
<td style="align: left; vertical-align: top; width: auto;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in
light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</div>
</td>
</tr>
</table>
</div>
</div>
<div> </div>
<div>
<div>
<table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="z1b21907eef8c4a7ab35b3131d4526f2f" class="DSPFListTable">
<tr style="vertical-align: top;">
<td style="width: 27pt;"> </td>
<td style="vertical-align: top; width: 18pt;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">8.</div>
</td>
<td style="align: left; vertical-align: top; width: auto;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition,
results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</div>
</td>
</tr>
</table>
</div>
</div>
<div> </div>
<div>
<div>
<table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="z9f9a57fe618448ed8274b2d4c5917389" class="DSPFListTable">
<tr style="vertical-align: top;">
<td style="width: 27pt;"> </td>
<td style="vertical-align: top; width: 18pt;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">9.</div>
</td>
<td style="align: left; vertical-align: top; width: auto;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules
13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</div>
</td>
</tr>
</table>
</div>
</div>
<div> </div>
<div>
<div>
<div>
<div>
<table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="z232df8f72c8e4757bc4cd92a9aebcbfb" class="DSPFListTable">
<tr style="vertical-align: top;">
<td style="width: 45pt;"> </td>
<td style="vertical-align: top; width: 18pt;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;">e)</font></div>
</td>
<td style="align: left; vertical-align: top; width: auto;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material
information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</div>
</td>
</tr>
</table>
</div>
</div>
</div>
</div>
<div> </div>
<div>
<div>
<div>
<div>
<table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="z75a8ca03d6684f55a99e0071fd02353d" class="DSPFListTable">
<tr style="vertical-align: top;">
<td style="width: 45pt;"> </td>
<td style="vertical-align: top; width: 18pt;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;">f)</font></div>
</td>
<td style="align: left; vertical-align: top; width: auto;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide
reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</div>
</td>
</tr>
</table>
</div>
</div>
</div>
</div>
<div> </div>
<div>
<div>
<div>
<div>
<table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="zb17cb0c7f60547fd9209adbb9e188953" class="DSPFListTable">
<tr style="vertical-align: top;">
<td style="width: 45pt;"> </td>
<td style="vertical-align: top; width: 18pt;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;">g)</font></div>
</td>
<td style="align: left; vertical-align: top; width: auto;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</div>
</td>
</tr>
</table>
</div>
</div>
</div>
</div>
<div> </div>
<div>
<div>
<div>
<div>
<table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="z357e97a168cf43d8892a45d0c43fddce" class="DSPFListTable">
<tr style="vertical-align: top;">
<td style="width: 45pt;"> </td>
<td style="vertical-align: top; width: 18pt;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;">h)</font></div>
</td>
<td style="align: left; vertical-align: top; width: auto;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the
registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and</div>
</td>
</tr>
</table>
</div>
</div>
</div>
</div>
<div> </div>
<div>
<div>
<table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="z29fc5de029cb462296603817f0ecf203" class="DSPFListTable">
<tr style="vertical-align: top;">
<td style="width: 27pt;"> </td>
<td style="vertical-align: top; width: 18pt;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">10.</div>
</td>
<td style="align: left; vertical-align: top; width: auto;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s
auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):</div>
</td>
</tr>
</table>
</div>
</div>
<div> </div>
<div>
<div>
<div>
<div>
<table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="zdc42b3079447468094724205ed2976aa" class="DSPFListTable">
<tr style="vertical-align: top;">
<td style="width: 45pt;"> </td>
<td style="vertical-align: top; width: 18pt;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;">c)</font></div>
</td>
<td style="align: left; vertical-align: top; width: auto;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely
affect the registrant’s ability to record, process, summarize and report financial data; and</div>
</td>
</tr>
</table>
</div>
</div>
</div>
</div>
<div> </div>
<div>
<div>
<div>
<div>
<table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="z88411d19d97a4658a727d5329033ba71" class="DSPFListTable">
<tr style="vertical-align: top;">
<td style="width: 45pt;"> </td>
<td style="vertical-align: top; width: 18pt;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;">d)</font></div>
</td>
<td style="align: left; vertical-align: top; width: auto;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial
reporting.</div>
</td>
</tr>
</table>
</div>
</div>
</div>
</div>
<div> </div>
<div><br>
</div>
<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 63.72%; vertical-align: top;">
<div style="text-align: right; font-family: 'Times New Roman', serif; font-size: 10pt;">By:</div>
</td>
<td style="width: 36.28%; vertical-align: top; border-bottom: #000000 2px solid;" colspan="2">
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;"> /s/ <font style="font-family: 'Times New Roman', serif; font-size: 10pt; color: #000000;">Joseph L Fernandez</font></div>
</td>
</tr>
<tr>
<td style="width: 63.72%; vertical-align: top;">
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;"> </div>
</td>
<td style="width: 36.28%; vertical-align: top;" colspan="2">
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">Joseph L Fernandez</div>
</td>
</tr>
<tr>
<td style="width: 63.72%; vertical-align: top;">
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;"> </div>
</td>
<td style="width: 36.28%; vertical-align: top;" colspan="2">
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;">Executive Vice President – Finance</div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;">(Principal Financial Officer)</div>
</td>
</tr>
<tr>
<td style="width: 63.72%; vertical-align: top;" rowspan="1"> </td>
<td style="width: 36.28%; vertical-align: top;" colspan="2" rowspan="1"> </td>
</tr>
<tr>
<td style="width: 63.72%; vertical-align: top;" rowspan="1"> </td>
<td style="width: 36.28%; vertical-align: top;" colspan="2" rowspan="1">Date:  August 15, 2022</td>
</tr>
</table>
<div><br>
</div>
<div>
<hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>4
<FILENAME>brhc10040602_ex32-1.htm
<DESCRIPTION>EXHIBIT 32.1
<TEXT>
<html>
<head>
<title></title>
<!-- Licensed to: Broadridge
Document created using Broadridge PROfile 22.7.2.5062
Copyright 1995 - 2022 Broadridge -->
</head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
<div>
<div style="text-align: right; font-family: 'Times New Roman', serif; font-size: 10pt;">
<hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">Exhibit 32.1</div>
<div><br>
</div>
<div><br>
</div>
<div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">Certification of CEO Pursuant to</div>
<div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">18 U.S.C. Section 1350,</div>
<div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">as Adopted Pursuant to</div>
<div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">Section 906 of the Sarbanes-Oxley Act of 2002</div>
<div><br>
</div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;">In connection with the Quarterly Report on Form 10-Q of <font style="font-family: 'Times New Roman', serif; font-size: 10pt; color: #000000;">Morgan Group Holding
Co.</font> (the “Company”) for the quarterly period ended June 30, 2022 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), <font style="font-family: 'Times New Roman', serif; font-size: 10pt; color: #000000;">Vincent
Amabile, Jr.</font>, as Chief Executive Officer (Principal Executive Officer) of the Company, hereby certifies, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to the best of his knowledge:</div>
<div><br>
</div>
<div> </div>
<table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 18.1pt;"><br>
</td>
<td style="width: 39pt; vertical-align: top; align: right; font-family: 'Times New Roman', serif; font-size: 10pt;">(1)</td>
<td style="width: auto; vertical-align: top; text-align: left;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</div>
</td>
</tr>
</table>
<div> </div>
<table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 18.1pt;"><br>
</td>
<td style="width: 39pt; vertical-align: top; align: right; font-family: 'Times New Roman', serif; font-size: 10pt;">(2)</td>
<td style="width: auto; vertical-align: top; text-align: left;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</div>
</td>
</tr>
</table>
<div> </div>
<div><br>
</div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;"><u>/s/ Vincent Amabile, Jr.</u></div>
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">Vincent Amabile, Jr.</div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;">Chief Executive Officer</div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;">(Principal Executive Officer)</div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;">August 15, 2022</div>
<div><br>
</div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;">This certification accompanies the Report pursuant to § 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the Sarbanes-Oxley Act
of 2002, be deemed filed by the Company for purposes of §18 of the Securities Exchange Act of 1934, as amended.</div>
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<TYPE>EX-32.2
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<DESCRIPTION>EXHIBIT 32.2
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<title></title>
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<hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">Exhibit 32.2</div>
<div><br>
</div>
<div><br>
</div>
<div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">Certification of PFO Pursuant to</div>
<div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">18 U.S.C. Section 1350,</div>
<div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">as Adopted Pursuant to</div>
<div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">Section 906 of the Sarbanes-Oxley Act of 2002</div>
<div><br>
</div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;">In connection with the Quarterly Report on Form 10-Q of Morgan Group Holding Co. (the “Company”) for the quarterly period ended June 30, 2022 as filed with the
Securities and Exchange Commission on the date hereof (the “Report”), <font style="font-family: 'Times New Roman', serif; font-size: 10pt; color: #000000;">Joseph L Fernandez</font>, as Executive Vice President – Finance (Principal
Financial Officer) of the Company, hereby certifies, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to the best of his knowledge:</div>
<div><br>
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<div> </div>
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<td style="width: 39pt; vertical-align: top; align: right; font-family: 'Times New Roman', serif; font-size: 10pt;">(1)</td>
<td style="width: auto; vertical-align: top; text-align: left;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</div>
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<table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">
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<td style="width: 39pt; vertical-align: top; align: right; font-family: 'Times New Roman', serif; font-size: 10pt;">(2)</td>
<td style="width: auto; vertical-align: top; text-align: left;">
<div style="font-family: 'Times New Roman', serif; font-size: 10pt;">The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</div>
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<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;"> </div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;"><u>/s/ Joseph L Fernandez</u></div>
<div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">Joseph L Fernandez</div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;">Executive Vice President – Finance</div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;">(Principal Financial Officer)</div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;">August 15, 2022</div>
<div><br>
</div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;">This certification accompanies the Report pursuant to § 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the Sarbanes-Oxley Act
of 2002, be deemed filed by the Company for purposes of §18 of the Securities Exchange Act of 1934, as amended.</div>
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</div>
<div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;">
<hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"> </div>
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<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
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<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="AssetsFairValueDisclosure" xlink:title="AssetsFairValueDisclosure" />
<link:label xlink:type="resource" xlink:label="us-gaap_AssetsFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_AssetsFairValueDisclosure_lbl" xml:lang="en-US" id="us-gaap_AssetsFairValueDisclosure_lbl">Total assets at fair value</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsFairValueDisclosure" xlink:to="us-gaap_AssetsFairValueDisclosure_lbl" xlink:title="label: AssetsFairValueDisclosure to us-gaap_AssetsFairValueDisclosure_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_AssetsFairValueDisclosure_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AssetsFairValueDisclosure_lbl1" xml:lang="en-US" id="us-gaap_AssetsFairValueDisclosure_lbl1">Assets, Fair Value Disclosure</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsFairValueDisclosure" xlink:to="us-gaap_AssetsFairValueDisclosure_lbl1" xlink:title="label: AssetsFairValueDisclosure to us-gaap_AssetsFairValueDisclosure_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AssetsAbstract" xlink:label="AssetsAbstract" xlink:title="AssetsAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_AssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_AssetsAbstract_lbl" xml:lang="en-US" id="us-gaap_AssetsAbstract_lbl">ASSETS</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAbstract" xlink:to="us-gaap_AssetsAbstract_lbl" xlink:title="label: AssetsAbstract to us-gaap_AssetsAbstract_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_AssetsAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AssetsAbstract_lbl1" xml:lang="en-US" id="us-gaap_AssetsAbstract_lbl1">Assets [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAbstract" xlink:to="us-gaap_AssetsAbstract_lbl1" xlink:title="label: AssetsAbstract to us-gaap_AssetsAbstract_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Assets" xlink:label="Assets" xlink:title="Assets" />
<link:label xlink:type="resource" xlink:label="us-gaap_Assets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_Assets_lbl" xml:lang="en-US" id="us-gaap_Assets_lbl">Total assets</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="us-gaap_Assets_lbl" xlink:title="label: Assets to us-gaap_Assets_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_Assets_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_Assets_lbl1" xml:lang="en-US" id="us-gaap_Assets_lbl1">Assets</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="us-gaap_Assets_lbl1" xlink:title="label: Assets to us-gaap_Assets_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:label="BasisOfAccountingPolicyPolicyTextBlock" xlink:title="BasisOfAccountingPolicyPolicyTextBlock" />
<link:label xlink:type="resource" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" xml:lang="en-US" id="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl">Basis of Presentation</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasisOfAccountingPolicyPolicyTextBlock" xlink:to="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" xlink:title="label: BasisOfAccountingPolicyPolicyTextBlock to us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_BrokerageCommissionsRevenue" xlink:label="BrokerageCommissionsRevenue" xlink:title="BrokerageCommissionsRevenue" />
<link:label xlink:type="resource" xlink:label="us-gaap_BrokerageCommissionsRevenue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_BrokerageCommissionsRevenue_lbl" xml:lang="en-US" id="us-gaap_BrokerageCommissionsRevenue_lbl">Commissions</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BrokerageCommissionsRevenue" xlink:to="us-gaap_BrokerageCommissionsRevenue_lbl" xlink:title="label: BrokerageCommissionsRevenue to us-gaap_BrokerageCommissionsRevenue_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_BrokerageCommissionsRevenue_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_BrokerageCommissionsRevenue_lbl1" xml:lang="en-US" id="us-gaap_BrokerageCommissionsRevenue_lbl1">Brokerage Commissions Revenue</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BrokerageCommissionsRevenue" xlink:to="us-gaap_BrokerageCommissionsRevenue_lbl1" xlink:title="label: BrokerageCommissionsRevenue to us-gaap_BrokerageCommissionsRevenue_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="BusinessAcquisitionAxis" xlink:title="BusinessAcquisitionAxis" />
<link:label xlink:type="resource" xlink:label="us-gaap_BusinessAcquisitionAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_BusinessAcquisitionAxis_lbl" xml:lang="en-US" id="us-gaap_BusinessAcquisitionAxis_lbl">Business Acquisition [Axis]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAxis" xlink:to="us-gaap_BusinessAcquisitionAxis_lbl" xlink:title="label: BusinessAcquisitionAxis to us-gaap_BusinessAcquisitionAxis_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="BusinessAcquisitionAcquireeDomain" xlink:title="BusinessAcquisitionAcquireeDomain" />
<link:label xlink:type="resource" xlink:label="us-gaap_BusinessAcquisitionAcquireeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_BusinessAcquisitionAcquireeDomain_lbl" xml:lang="en-US" id="us-gaap_BusinessAcquisitionAcquireeDomain_lbl">Business Acquisition, Acquiree [Domain]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAcquireeDomain" xlink:to="us-gaap_BusinessAcquisitionAcquireeDomain_lbl" xlink:title="label: BusinessAcquisitionAcquireeDomain to us-gaap_BusinessAcquisitionAcquireeDomain_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock" xlink:label="BusinessDescriptionAndBasisOfPresentationTextBlock" xlink:title="BusinessDescriptionAndBasisOfPresentationTextBlock" />
<link:label xlink:type="resource" xlink:label="us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock_lbl" xml:lang="en-US" id="us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock_lbl">Organization and Business Description</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessDescriptionAndBasisOfPresentationTextBlock" xlink:to="us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock_lbl" xlink:title="label: BusinessDescriptionAndBasisOfPresentationTextBlock to us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued" xlink:label="BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued" xlink:title="BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued" />
<link:label xlink:type="resource" xlink:label="us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_lbl" xml:lang="en-US" id="us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_lbl">Stock acquired (in shares)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued" xlink:to="us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_lbl" xlink:title="label: BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued to us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="CashAndCashEquivalentsAtCarryingValue" xlink:title="CashAndCashEquivalentsAtCarryingValue" />
<link:label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US" id="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl">Cash and cash equivalents</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xlink:title="label: CashAndCashEquivalentsAtCarryingValue to us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl1" xml:lang="en-US" id="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl1">Cash and cash equivalents</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl1" xlink:title="label: CashAndCashEquivalentsAtCarryingValue to us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract" xlink:label="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract" xlink:title="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract_lbl" xml:lang="en-US" id="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract_lbl">Reconciliation to cash, cash equivalents, and restricted cash</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract_lbl" xlink:title="label: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract to us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract_lbl1" xml:lang="en-US" id="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract_lbl1">Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract_lbl1" xlink:title="label: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract to us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:title="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" />
<link:label xlink:type="resource" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xml:lang="en-US" id="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl">Cash, cash equivalents, and restricted cash at beginning of period</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xlink:title="label: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents to us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl1" xml:lang="en-US" id="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl1">Cash, cash equivalents, and restricted cash at end of period</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl1" xlink:title="label: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents to us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl1" />
<link:label xlink:type="resource" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl2" xml:lang="en-US" id="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl2">Cash, cash equivalents, and restricted cash</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl2" xlink:title="label: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents to us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl2" />
<link:label xlink:type="resource" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl3" xml:lang="en-US" id="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl3">Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl3" xlink:title="label: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents to us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl3" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:label="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:title="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" />
<link:label xlink:type="resource" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl" xml:lang="en-US" id="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl">Net decrease in cash, cash equivalents, and restricted cash</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl" xlink:title="label: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect to us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl1" xml:lang="en-US" id="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl1">Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl1" xlink:title="label: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect to us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:label="CashAndCashEquivalentsFairValueDisclosure" xlink:title="CashAndCashEquivalentsFairValueDisclosure" />
<link:label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl" xml:lang="en-US" id="us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl">Cash equivalents</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsFairValueDisclosure" xlink:to="us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl" xlink:title="label: CashAndCashEquivalentsFairValueDisclosure to us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl1" xml:lang="en-US" id="us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl1">Cash and Cash Equivalents, Fair Value Disclosure</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsFairValueDisclosure" xlink:to="us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl1" xlink:title="label: CashAndCashEquivalentsFairValueDisclosure to us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ClassOfStockLineItems" xlink:label="ClassOfStockLineItems" xlink:title="ClassOfStockLineItems" />
<link:label xlink:type="resource" xlink:label="us-gaap_ClassOfStockLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ClassOfStockLineItems_lbl" xml:lang="en-US" id="us-gaap_ClassOfStockLineItems_lbl">Class of Stock [Line Items]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassOfStockLineItems" xlink:to="us-gaap_ClassOfStockLineItems_lbl" xlink:title="label: ClassOfStockLineItems to us-gaap_ClassOfStockLineItems_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ClearanceFees" xlink:label="ClearanceFees" xlink:title="ClearanceFees" />
<link:label xlink:type="resource" xlink:label="us-gaap_ClearanceFees_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_ClearanceFees_lbl" xml:lang="en-US" id="us-gaap_ClearanceFees_lbl">Clearing charges</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClearanceFees" xlink:to="us-gaap_ClearanceFees_lbl" xlink:title="label: ClearanceFees to us-gaap_ClearanceFees_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_ClearanceFees_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ClearanceFees_lbl1" xml:lang="en-US" id="us-gaap_ClearanceFees_lbl1">Clearance Fees</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClearanceFees" xlink:to="us-gaap_ClearanceFees_lbl1" xlink:title="label: ClearanceFees to us-gaap_ClearanceFees_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="CommitmentsAndContingenciesDisclosureAbstract" xlink:title="CommitmentsAndContingenciesDisclosureAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xml:lang="en-US" id="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl">Guarantees, Contingencies, and Commitments [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentsAndContingenciesDisclosureAbstract" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xlink:title="label: CommitmentsAndContingenciesDisclosureAbstract to us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="CommitmentsAndContingencies" xlink:title="CommitmentsAndContingencies" />
<link:label xlink:type="resource" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US" id="us-gaap_CommitmentsAndContingencies_lbl">Commitments and contingencies (Note J)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies_lbl" xlink:title="label: CommitmentsAndContingencies to us-gaap_CommitmentsAndContingencies_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_CommitmentsAndContingencies_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommitmentsAndContingencies_lbl1" xml:lang="en-US" id="us-gaap_CommitmentsAndContingencies_lbl1">Commitments and Contingencies</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies_lbl1" xlink:title="label: CommitmentsAndContingencies to us-gaap_CommitmentsAndContingencies_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommitmentsContingenciesAndGuaranteesTextBlock" xlink:label="CommitmentsContingenciesAndGuaranteesTextBlock" xlink:title="CommitmentsContingenciesAndGuaranteesTextBlock" />
<link:label xlink:type="resource" xlink:label="us-gaap_CommitmentsContingenciesAndGuaranteesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_CommitmentsContingenciesAndGuaranteesTextBlock_lbl" xml:lang="en-US" id="us-gaap_CommitmentsContingenciesAndGuaranteesTextBlock_lbl">Guarantees, Contingencies, and Commitments</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentsContingenciesAndGuaranteesTextBlock" xlink:to="us-gaap_CommitmentsContingenciesAndGuaranteesTextBlock_lbl" xlink:title="label: CommitmentsContingenciesAndGuaranteesTextBlock to us-gaap_CommitmentsContingenciesAndGuaranteesTextBlock_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_CommitmentsContingenciesAndGuaranteesTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommitmentsContingenciesAndGuaranteesTextBlock_lbl1" xml:lang="en-US" id="us-gaap_CommitmentsContingenciesAndGuaranteesTextBlock_lbl1">Commitments Contingencies and Guarantees [Text Block]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentsContingenciesAndGuaranteesTextBlock" xlink:to="us-gaap_CommitmentsContingenciesAndGuaranteesTextBlock_lbl1" xlink:title="label: CommitmentsContingenciesAndGuaranteesTextBlock to us-gaap_CommitmentsContingenciesAndGuaranteesTextBlock_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommonStockMember" xlink:label="CommonStockMember" xlink:title="CommonStockMember" />
<link:label xlink:type="resource" xlink:label="us-gaap_CommonStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommonStockMember_lbl" xml:lang="en-US" id="us-gaap_CommonStockMember_lbl">Common Stock [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl" xlink:title="label: CommonStockMember to us-gaap_CommonStockMember_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="CommonStockParOrStatedValuePerShare" xlink:title="CommonStockParOrStatedValuePerShare" />
<link:label xlink:type="resource" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US" id="us-gaap_CommonStockParOrStatedValuePerShare_lbl">Common stock, par value (in dollars per share)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xlink:title="label: CommonStockParOrStatedValuePerShare to us-gaap_CommonStockParOrStatedValuePerShare_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommonStockParOrStatedValuePerShare_lbl1" xml:lang="en-US" id="us-gaap_CommonStockParOrStatedValuePerShare_lbl1">Common stock, par value (in dollars per share)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare_lbl1" xlink:title="label: CommonStockParOrStatedValuePerShare to us-gaap_CommonStockParOrStatedValuePerShare_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommonStockValue" xlink:label="CommonStockValue" xlink:title="CommonStockValue" />
<link:label xlink:type="resource" xlink:label="us-gaap_CommonStockValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommonStockValue_lbl" xml:lang="en-US" id="us-gaap_CommonStockValue_lbl">Common stock, $0.01 par value; 10,000,000 and 100,000,000 shares authorized, respectively, and 600,090 and 600,090 issued and outstanding, respectively</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl" xlink:title="label: CommonStockValue to us-gaap_CommonStockValue_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommonStockSharesIssued" xlink:label="CommonStockSharesIssued" xlink:title="CommonStockSharesIssued" />
<link:label xlink:type="resource" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US" id="us-gaap_CommonStockSharesIssued_lbl">Common stock, shares issued (in shares)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl" xlink:title="label: CommonStockSharesIssued to us-gaap_CommonStockSharesIssued_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="CommonStockSharesAuthorized" xlink:title="CommonStockSharesAuthorized" />
<link:label xlink:type="resource" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US" id="us-gaap_CommonStockSharesAuthorized_lbl">Common stock, shares authorized (in shares)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesAuthorized" xlink:to="us-gaap_CommonStockSharesAuthorized_lbl" xlink:title="label: CommonStockSharesAuthorized to us-gaap_CommonStockSharesAuthorized_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="CommonStockSharesOutstanding" xlink:title="CommonStockSharesOutstanding" />
<link:label xlink:type="resource" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US" id="us-gaap_CommonStockSharesOutstanding_lbl">Common stock, shares outstanding (in shares)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl" xlink:title="label: CommonStockSharesOutstanding to us-gaap_CommonStockSharesOutstanding_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="us-gaap_CommonStockSharesOutstanding_lbl1" xml:lang="en-US" id="us-gaap_CommonStockSharesOutstanding_lbl1">Balance (in shares)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl1" xlink:title="label: CommonStockSharesOutstanding to us-gaap_CommonStockSharesOutstanding_lbl1" />
<link:label xlink:type="resource" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl2" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_CommonStockSharesOutstanding_lbl2" xml:lang="en-US" id="us-gaap_CommonStockSharesOutstanding_lbl2">Balance (in shares)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl2" xlink:title="label: CommonStockSharesOutstanding to us-gaap_CommonStockSharesOutstanding_lbl2" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CompensationAndRetirementDisclosureAbstract" xlink:label="CompensationAndRetirementDisclosureAbstract" xlink:title="CompensationAndRetirementDisclosureAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_CompensationAndRetirementDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CompensationAndRetirementDisclosureAbstract_lbl" xml:lang="en-US" id="us-gaap_CompensationAndRetirementDisclosureAbstract_lbl">Retirement Plan [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensationAndRetirementDisclosureAbstract" xlink:to="us-gaap_CompensationAndRetirementDisclosureAbstract_lbl" xlink:title="label: CompensationAndRetirementDisclosureAbstract to us-gaap_CompensationAndRetirementDisclosureAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems" xlink:label="ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems" xlink:title="ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems" />
<link:label xlink:type="resource" xlink:label="us-gaap_ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems_lbl" xml:lang="en-US" id="us-gaap_ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems_lbl">Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems" xlink:to="us-gaap_ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems_lbl" xlink:title="label: ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems to us-gaap_ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DisaggregationOfRevenueTableTextBlock" xlink:label="DisaggregationOfRevenueTableTextBlock" xlink:title="DisaggregationOfRevenueTableTextBlock" />
<link:label xlink:type="resource" xlink:label="us-gaap_DisaggregationOfRevenueTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DisaggregationOfRevenueTableTextBlock_lbl" xml:lang="en-US" id="us-gaap_DisaggregationOfRevenueTableTextBlock_lbl">Total Revenues by Type</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisaggregationOfRevenueTableTextBlock" xlink:to="us-gaap_DisaggregationOfRevenueTableTextBlock_lbl" xlink:title="label: DisaggregationOfRevenueTableTextBlock to us-gaap_DisaggregationOfRevenueTableTextBlock_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DisaggregationOfRevenueLineItems" xlink:label="DisaggregationOfRevenueLineItems" xlink:title="DisaggregationOfRevenueLineItems" />
<link:label xlink:type="resource" xlink:label="us-gaap_DisaggregationOfRevenueLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DisaggregationOfRevenueLineItems_lbl" xml:lang="en-US" id="us-gaap_DisaggregationOfRevenueLineItems_lbl">Disaggregation of Revenue [Line Items]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="us-gaap_DisaggregationOfRevenueLineItems_lbl" xlink:title="label: DisaggregationOfRevenueLineItems to us-gaap_DisaggregationOfRevenueLineItems_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DisaggregationOfRevenueAbstract" xlink:label="DisaggregationOfRevenueAbstract" xlink:title="DisaggregationOfRevenueAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_DisaggregationOfRevenueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_DisaggregationOfRevenueAbstract_lbl" xml:lang="en-US" id="us-gaap_DisaggregationOfRevenueAbstract_lbl">Total Revenues by Type [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisaggregationOfRevenueAbstract" xlink:to="us-gaap_DisaggregationOfRevenueAbstract_lbl" xlink:title="label: DisaggregationOfRevenueAbstract to us-gaap_DisaggregationOfRevenueAbstract_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_DisaggregationOfRevenueAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DisaggregationOfRevenueAbstract_lbl1" xml:lang="en-US" id="us-gaap_DisaggregationOfRevenueAbstract_lbl1">Disaggregation of Revenue [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisaggregationOfRevenueAbstract" xlink:to="us-gaap_DisaggregationOfRevenueAbstract_lbl1" xlink:title="label: DisaggregationOfRevenueAbstract to us-gaap_DisaggregationOfRevenueAbstract_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DisaggregationOfRevenueTable" xlink:label="DisaggregationOfRevenueTable" xlink:title="DisaggregationOfRevenueTable" />
<link:label xlink:type="resource" xlink:label="us-gaap_DisaggregationOfRevenueTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DisaggregationOfRevenueTable_lbl" xml:lang="en-US" id="us-gaap_DisaggregationOfRevenueTable_lbl">Disaggregation of Revenue [Table]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisaggregationOfRevenueTable" xlink:to="us-gaap_DisaggregationOfRevenueTable_lbl" xlink:title="label: DisaggregationOfRevenueTable to us-gaap_DisaggregationOfRevenueTable_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent" xlink:label="DeferredCompensationLiabilityCurrentAndNoncurrent" xlink:title="DeferredCompensationLiabilityCurrentAndNoncurrent" />
<link:label xlink:type="resource" xlink:label="us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent_lbl" xml:lang="en-US" id="us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent_lbl">Compensation payable</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredCompensationLiabilityCurrentAndNoncurrent" xlink:to="us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent_lbl" xlink:title="label: DeferredCompensationLiabilityCurrentAndNoncurrent to us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount" xlink:label="DefinedContributionPlanEmployerDiscretionaryContributionAmount" xlink:title="DefinedContributionPlanEmployerDiscretionaryContributionAmount" />
<link:label xlink:type="resource" xlink:label="us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount_lbl" xml:lang="en-US" id="us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount_lbl">Allocated contributions</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefinedContributionPlanEmployerDiscretionaryContributionAmount" xlink:to="us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount_lbl" xlink:title="label: DefinedContributionPlanEmployerDiscretionaryContributionAmount to us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount_lbl1" xml:lang="en-US" id="us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount_lbl1">Defined Contribution Plan, Employer Discretionary Contribution Amount</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefinedContributionPlanEmployerDiscretionaryContributionAmount" xlink:to="us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount_lbl1" xlink:title="label: DefinedContributionPlanEmployerDiscretionaryContributionAmount to us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities" xlink:label="DepositsWithClearingOrganizationsAndOthersSecurities" xlink:title="DepositsWithClearingOrganizationsAndOthersSecurities" />
<link:label xlink:type="resource" xlink:label="us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities_lbl" xml:lang="en-US" id="us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities_lbl">Deposits with clearing organizations</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepositsWithClearingOrganizationsAndOthersSecurities" xlink:to="us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities_lbl" xlink:title="label: DepositsWithClearingOrganizationsAndOthersSecurities to us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Depreciation" xlink:label="Depreciation" xlink:title="Depreciation" />
<link:label xlink:type="resource" xlink:label="us-gaap_Depreciation_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_Depreciation_lbl" xml:lang="en-US" id="us-gaap_Depreciation_lbl">Depreciation</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Depreciation" xlink:to="us-gaap_Depreciation_lbl" xlink:title="label: Depreciation to us-gaap_Depreciation_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DueFromRelatedParties" xlink:label="DueFromRelatedParties" xlink:title="DueFromRelatedParties" />
<link:label xlink:type="resource" xlink:label="us-gaap_DueFromRelatedParties_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DueFromRelatedParties_lbl" xml:lang="en-US" id="us-gaap_DueFromRelatedParties_lbl">Receivables from affiliates</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DueFromRelatedParties" xlink:to="us-gaap_DueFromRelatedParties_lbl" xlink:title="label: DueFromRelatedParties to us-gaap_DueFromRelatedParties_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" xlink:label="DueToRelatedPartiesCurrentAndNoncurrent" xlink:title="DueToRelatedPartiesCurrentAndNoncurrent" />
<link:label xlink:type="resource" xlink:label="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent_lbl" xml:lang="en-US" id="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent_lbl">Payable to affiliates</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DueToRelatedPartiesCurrentAndNoncurrent" xlink:to="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent_lbl" xlink:title="label: DueToRelatedPartiesCurrentAndNoncurrent to us-gaap_DueToRelatedPartiesCurrentAndNoncurrent_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_EarningsPerShareReconciliationAbstract" xlink:label="EarningsPerShareReconciliationAbstract" xlink:title="EarningsPerShareReconciliationAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareReconciliationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EarningsPerShareReconciliationAbstract_lbl" xml:lang="en-US" id="us-gaap_EarningsPerShareReconciliationAbstract_lbl">Basic and diluted [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareReconciliationAbstract" xlink:to="us-gaap_EarningsPerShareReconciliationAbstract_lbl" xlink:title="label: EarningsPerShareReconciliationAbstract to us-gaap_EarningsPerShareReconciliationAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_EarningsPerShareBasic" xlink:label="EarningsPerShareBasic" xlink:title="EarningsPerShareBasic" />
<link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US" id="us-gaap_EarningsPerShareBasic_lbl">Basic net loss per share (in dollars per share)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareBasic" xlink:to="us-gaap_EarningsPerShareBasic_lbl" xlink:title="label: EarningsPerShareBasic to us-gaap_EarningsPerShareBasic_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasic_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EarningsPerShareBasic_lbl1" xml:lang="en-US" id="us-gaap_EarningsPerShareBasic_lbl1">Basic (in dollars per share)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareBasic" xlink:to="us-gaap_EarningsPerShareBasic_lbl1" xlink:title="label: EarningsPerShareBasic to us-gaap_EarningsPerShareBasic_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="EarningsPerShareDiluted" xlink:title="EarningsPerShareDiluted" />
<link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_EarningsPerShareDiluted_lbl" xml:lang="en-US" id="us-gaap_EarningsPerShareDiluted_lbl">Diluted net loss per share (in dollars per share)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareDiluted" xlink:to="us-gaap_EarningsPerShareDiluted_lbl" xlink:title="label: EarningsPerShareDiluted to us-gaap_EarningsPerShareDiluted_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareDiluted_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EarningsPerShareDiluted_lbl1" xml:lang="en-US" id="us-gaap_EarningsPerShareDiluted_lbl1">Diluted (in dollars per share)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareDiluted" xlink:to="us-gaap_EarningsPerShareDiluted_lbl1" xlink:title="label: EarningsPerShareDiluted to us-gaap_EarningsPerShareDiluted_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_EarningsPerShareTextBlock" xlink:label="EarningsPerShareTextBlock" xlink:title="EarningsPerShareTextBlock" />
<link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_EarningsPerShareTextBlock_lbl" xml:lang="en-US" id="us-gaap_EarningsPerShareTextBlock_lbl">Earnings per Share</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareTextBlock" xlink:to="us-gaap_EarningsPerShareTextBlock_lbl" xlink:title="label: EarningsPerShareTextBlock to us-gaap_EarningsPerShareTextBlock_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EarningsPerShareTextBlock_lbl1" xml:lang="en-US" id="us-gaap_EarningsPerShareTextBlock_lbl1">Earnings Per Share [Text Block]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareTextBlock" xlink:to="us-gaap_EarningsPerShareTextBlock_lbl1" xlink:title="label: EarningsPerShareTextBlock to us-gaap_EarningsPerShareTextBlock_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="EarningsPerShareAbstract" xlink:title="EarningsPerShareAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_EarningsPerShareAbstract_lbl" xml:lang="en-US" id="us-gaap_EarningsPerShareAbstract_lbl">Net loss per share</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_lbl" xlink:title="label: EarningsPerShareAbstract to us-gaap_EarningsPerShareAbstract_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EarningsPerShareAbstract_lbl1" xml:lang="en-US" id="us-gaap_EarningsPerShareAbstract_lbl1">Earnings per Share [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_lbl1" xlink:title="label: EarningsPerShareAbstract to us-gaap_EarningsPerShareAbstract_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:label="EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:title="EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" />
<link:label xlink:type="resource" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl" xml:lang="en-US" id="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl">U.S. corporate rate</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:to="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl" xlink:title="label: EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate to us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:label="EffectiveIncomeTaxRateContinuingOperations" xlink:title="EffectiveIncomeTaxRateContinuingOperations" />
<link:label xlink:type="resource" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl" xml:lang="en-US" id="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl">Effective tax rate</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectiveIncomeTaxRateContinuingOperations" xlink:to="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl" xlink:title="label: EffectiveIncomeTaxRateContinuingOperations to us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_EquityAbstract" xlink:label="EquityAbstract" xlink:title="EquityAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_EquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EquityAbstract_lbl" xml:lang="en-US" id="us-gaap_EquityAbstract_lbl">Equity [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAbstract" xlink:to="us-gaap_EquityAbstract_lbl" xlink:title="label: EquityAbstract to us-gaap_EquityAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_EquityComponentDomain" xlink:label="EquityComponentDomain" xlink:title="EquityComponentDomain" />
<link:label xlink:type="resource" xlink:label="us-gaap_EquityComponentDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EquityComponentDomain_lbl" xml:lang="en-US" id="us-gaap_EquityComponentDomain_lbl">Equity Component [Domain]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityComponentDomain" xlink:to="us-gaap_EquityComponentDomain_lbl" xlink:title="label: EquityComponentDomain to us-gaap_EquityComponentDomain_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FairValueByMeasurementFrequencyAxis" xlink:label="FairValueByMeasurementFrequencyAxis" xlink:title="FairValueByMeasurementFrequencyAxis" />
<link:label xlink:type="resource" xlink:label="us-gaap_FairValueByMeasurementFrequencyAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueByMeasurementFrequencyAxis_lbl" xml:lang="en-US" id="us-gaap_FairValueByMeasurementFrequencyAxis_lbl">Measurement Frequency [Axis]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueByMeasurementFrequencyAxis" xlink:to="us-gaap_FairValueByMeasurementFrequencyAxis_lbl" xlink:title="label: FairValueByMeasurementFrequencyAxis to us-gaap_FairValueByMeasurementFrequencyAxis_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:label="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:title="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" />
<link:label xlink:type="resource" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" xml:lang="en-US" id="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" xlink:title="label: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems to us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="FairValueDisclosuresAbstract" xlink:title="FairValueDisclosuresAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_FairValueDisclosuresAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueDisclosuresAbstract_lbl" xml:lang="en-US" id="us-gaap_FairValueDisclosuresAbstract_lbl">Fair Value [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueDisclosuresAbstract" xlink:to="us-gaap_FairValueDisclosuresAbstract_lbl" xlink:title="label: FairValueDisclosuresAbstract to us-gaap_FairValueDisclosuresAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:label="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:title="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" />
<link:label xlink:type="resource" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_lbl" xml:lang="en-US" id="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_lbl">Fair Value, Recurring and Nonrecurring [Table]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_lbl" xlink:title="label: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable to us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="FairValueByFairValueHierarchyLevelAxis" xlink:title="FairValueByFairValueHierarchyLevelAxis" />
<link:label xlink:type="resource" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xml:lang="en-US" id="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl">Fair Value Hierarchy and NAV [Axis]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueByFairValueHierarchyLevelAxis" xlink:to="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xlink:title="label: FairValueByFairValueHierarchyLevelAxis to us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FairValueMeasurementsRecurringMember" xlink:label="FairValueMeasurementsRecurringMember" xlink:title="FairValueMeasurementsRecurringMember" />
<link:label xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementsRecurringMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_FairValueMeasurementsRecurringMember_lbl" xml:lang="en-US" id="us-gaap_FairValueMeasurementsRecurringMember_lbl">Recurring [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueMeasurementsRecurringMember" xlink:to="us-gaap_FairValueMeasurementsRecurringMember_lbl" xlink:title="label: FairValueMeasurementsRecurringMember to us-gaap_FairValueMeasurementsRecurringMember_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementsRecurringMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueMeasurementsRecurringMember_lbl1" xml:lang="en-US" id="us-gaap_FairValueMeasurementsRecurringMember_lbl1">Fair Value, Recurring [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueMeasurementsRecurringMember" xlink:to="us-gaap_FairValueMeasurementsRecurringMember_lbl1" xlink:title="label: FairValueMeasurementsRecurringMember to us-gaap_FairValueMeasurementsRecurringMember_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FairValueMeasurementFrequencyDomain" xlink:label="FairValueMeasurementFrequencyDomain" xlink:title="FairValueMeasurementFrequencyDomain" />
<link:label xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xml:lang="en-US" id="us-gaap_FairValueMeasurementFrequencyDomain_lbl">Measurement Frequency [Domain]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueMeasurementFrequencyDomain" xlink:to="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xlink:title="label: FairValueMeasurementFrequencyDomain to us-gaap_FairValueMeasurementFrequencyDomain_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="FairValueMeasurementsFairValueHierarchyDomain" xlink:title="FairValueMeasurementsFairValueHierarchyDomain" />
<link:label xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" xml:lang="en-US" id="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl">Fair Value Hierarchy and NAV [Domain]</link:label>
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<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="FairValueInputsLevel1Member" xlink:title="FairValueInputsLevel1Member" />
<link:label xlink:type="resource" xlink:label="us-gaap_FairValueInputsLevel1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_FairValueInputsLevel1Member_lbl" xml:lang="en-US" id="us-gaap_FairValueInputsLevel1Member_lbl">Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]</link:label>
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<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="FairValueInputsLevel2Member" xlink:title="FairValueInputsLevel2Member" />
<link:label xlink:type="resource" xlink:label="us-gaap_FairValueInputsLevel2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_FairValueInputsLevel2Member_lbl" xml:lang="en-US" id="us-gaap_FairValueInputsLevel2Member_lbl">Significant Other Observable Inputs (Level 2) [Member]</link:label>
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<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="FairValueInputsLevel3Member" xlink:title="FairValueInputsLevel3Member" />
<link:label xlink:type="resource" xlink:label="us-gaap_FairValueInputsLevel3Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_FairValueInputsLevel3Member_lbl" xml:lang="en-US" id="us-gaap_FairValueInputsLevel3Member_lbl">Significant Unobservable Inputs (Level 3) [Member]</link:label>
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<link:label xlink:type="resource" xlink:label="us-gaap_FairValueInputsLevel3Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueInputsLevel3Member_lbl1" xml:lang="en-US" id="us-gaap_FairValueInputsLevel3Member_lbl1">Fair Value, Inputs, Level 3 [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueInputsLevel3Member" xlink:to="us-gaap_FairValueInputsLevel3Member_lbl1" xlink:title="label: FairValueInputsLevel3Member to us-gaap_FairValueInputsLevel3Member_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="GeneralAndAdministrativeExpense" xlink:title="GeneralAndAdministrativeExpense" />
<link:label xlink:type="resource" xlink:label="us-gaap_GeneralAndAdministrativeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_GeneralAndAdministrativeExpense_lbl" xml:lang="en-US" id="us-gaap_GeneralAndAdministrativeExpense_lbl">General and administrative</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeneralAndAdministrativeExpense" xlink:to="us-gaap_GeneralAndAdministrativeExpense_lbl" xlink:title="label: GeneralAndAdministrativeExpense to us-gaap_GeneralAndAdministrativeExpense_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="IncomeTaxDisclosureAbstract" xlink:title="IncomeTaxDisclosureAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncomeTaxDisclosureAbstract_lbl" xml:lang="en-US" id="us-gaap_IncomeTaxDisclosureAbstract_lbl">Income Taxes [Abstract]</link:label>
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<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:title="IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" />
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<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncomeTaxDisclosureTextBlock" xlink:label="IncomeTaxDisclosureTextBlock" xlink:title="IncomeTaxDisclosureTextBlock" />
<link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncomeTaxDisclosureTextBlock_lbl" xml:lang="en-US" id="us-gaap_IncomeTaxDisclosureTextBlock_lbl">Income Taxes</link:label>
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<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncomeStatementAbstract" xlink:label="IncomeStatementAbstract" xlink:title="IncomeStatementAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_IncomeStatementAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncomeStatementAbstract_lbl" xml:lang="en-US" id="us-gaap_IncomeStatementAbstract_lbl">CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]</link:label>
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<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="IncomeTaxExpenseBenefit" xlink:title="IncomeTaxExpenseBenefit" />
<link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_IncomeTaxExpenseBenefit_lbl" xml:lang="en-US" id="us-gaap_IncomeTaxExpenseBenefit_lbl">Income tax benefit</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxExpenseBenefit" xlink:to="us-gaap_IncomeTaxExpenseBenefit_lbl" xlink:title="label: IncomeTaxExpenseBenefit to us-gaap_IncomeTaxExpenseBenefit_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncomeTaxExpenseBenefit_lbl1" xml:lang="en-US" id="us-gaap_IncomeTaxExpenseBenefit_lbl1">Income Tax Expense (Benefit)</link:label>
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<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncomeTaxReceivable" xlink:label="IncomeTaxReceivable" xlink:title="IncomeTaxReceivable" />
<link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxReceivable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncomeTaxReceivable_lbl" xml:lang="en-US" id="us-gaap_IncomeTaxReceivable_lbl">Income taxes receivable (including deferred tax asset of $0 and $0, respectively)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxReceivable" xlink:to="us-gaap_IncomeTaxReceivable_lbl" xlink:title="label: IncomeTaxReceivable to us-gaap_IncomeTaxReceivable_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInBrokerageReceivables" xlink:label="IncreaseDecreaseInBrokerageReceivables" xlink:title="IncreaseDecreaseInBrokerageReceivables" />
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<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xlink:label="IncreaseDecreaseInAccruedIncomeTaxesPayable" xlink:title="IncreaseDecreaseInAccruedIncomeTaxesPayable" />
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<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties" xlink:label="IncreaseDecreaseInAccountsPayableRelatedParties" xlink:title="IncreaseDecreaseInAccountsPayableRelatedParties" />
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<link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties_lbl1" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties_lbl1">Increase (Decrease) in Accounts Payable, Related Parties</link:label>
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<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties" xlink:label="IncreaseDecreaseInAccountsReceivableRelatedParties" xlink:title="IncreaseDecreaseInAccountsReceivableRelatedParties" />
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<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInAccruedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInAccruedLiabilities_lbl1" xlink:title="label: IncreaseDecreaseInAccruedLiabilities to us-gaap_IncreaseDecreaseInAccruedLiabilities_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities" xlink:label="IncreaseDecreaseInEmployeeRelatedLiabilities" xlink:title="IncreaseDecreaseInEmployeeRelatedLiabilities" />
<link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_lbl" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_lbl">Compensation payable</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInEmployeeRelatedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_lbl" xlink:title="label: IncreaseDecreaseInEmployeeRelatedLiabilities to us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_lbl1" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_lbl1">Increase (Decrease) in Employee Related Liabilities</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInEmployeeRelatedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_lbl1" xlink:title="label: IncreaseDecreaseInEmployeeRelatedLiabilities to us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInIncomeTaxesReceivable" xlink:label="IncreaseDecreaseInIncomeTaxesReceivable" xlink:title="IncreaseDecreaseInIncomeTaxesReceivable" />
<link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_lbl" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_lbl">Income taxes receivable</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInIncomeTaxesReceivable" xlink:to="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_lbl" xlink:title="label: IncreaseDecreaseInIncomeTaxesReceivable to us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_lbl1" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_lbl1">Increase (Decrease) in Income Taxes Receivable</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInIncomeTaxesReceivable" xlink:to="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_lbl1" xlink:title="label: IncreaseDecreaseInIncomeTaxesReceivable to us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract" xlink:label="IncreaseDecreaseInOperatingLiabilitiesAbstract" xlink:title="IncreaseDecreaseInOperatingLiabilitiesAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract_lbl" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract_lbl">Increase/(decrease) in liabilities:</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInOperatingLiabilitiesAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract_lbl" xlink:title="label: IncreaseDecreaseInOperatingLiabilitiesAbstract to us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="IncreaseDecreaseInOtherOperatingAssets" xlink:title="IncreaseDecreaseInOtherOperatingAssets" />
<link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl">Other assets</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInOtherOperatingAssets" xlink:to="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xlink:title="label: IncreaseDecreaseInOtherOperatingAssets to us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl1" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl1">Increase (Decrease) in Other Operating Assets</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInOtherOperatingAssets" xlink:to="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl1" xlink:title="label: IncreaseDecreaseInOtherOperatingAssets to us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInOperatingAssetsAbstract" xlink:label="IncreaseDecreaseInOperatingAssetsAbstract" xlink:title="IncreaseDecreaseInOperatingAssetsAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInOperatingAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncreaseDecreaseInOperatingAssetsAbstract_lbl" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInOperatingAssetsAbstract_lbl">(Increase)/decrease in assets:</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInOperatingAssetsAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingAssetsAbstract_lbl" xlink:title="label: IncreaseDecreaseInOperatingAssetsAbstract to us-gaap_IncreaseDecreaseInOperatingAssetsAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:label="IncreaseDecreaseInStockholdersEquityRollForward" xlink:title="IncreaseDecreaseInStockholdersEquityRollForward" />
<link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_lbl" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_lbl">Increase (Decrease) in Statements of Equity [Roll Forward]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_lbl" xlink:title="label: IncreaseDecreaseInStockholdersEquityRollForward to us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InterestAndDividendIncomeOperating" xlink:label="InterestAndDividendIncomeOperating" xlink:title="InterestAndDividendIncomeOperating" />
<link:label xlink:type="resource" xlink:label="us-gaap_InterestAndDividendIncomeOperating_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_InterestAndDividendIncomeOperating_lbl" xml:lang="en-US" id="us-gaap_InterestAndDividendIncomeOperating_lbl">Dividends and interest</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestAndDividendIncomeOperating" xlink:to="us-gaap_InterestAndDividendIncomeOperating_lbl" xlink:title="label: InterestAndDividendIncomeOperating to us-gaap_InterestAndDividendIncomeOperating_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_InterestAndDividendIncomeOperating_lbl1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_InterestAndDividendIncomeOperating_lbl1" xml:lang="en-US" id="us-gaap_InterestAndDividendIncomeOperating_lbl1">Investment income</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestAndDividendIncomeOperating" xlink:to="us-gaap_InterestAndDividendIncomeOperating_lbl1" xlink:title="label: InterestAndDividendIncomeOperating to us-gaap_InterestAndDividendIncomeOperating_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InvestmentTypeCategorizationMember" xlink:label="InvestmentTypeCategorizationMember" xlink:title="InvestmentTypeCategorizationMember" />
<link:label xlink:type="resource" xlink:label="us-gaap_InvestmentTypeCategorizationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_InvestmentTypeCategorizationMember_lbl" xml:lang="en-US" id="us-gaap_InvestmentTypeCategorizationMember_lbl">Investments [Domain]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentTypeCategorizationMember" xlink:to="us-gaap_InvestmentTypeCategorizationMember_lbl" xlink:title="label: InvestmentTypeCategorizationMember to us-gaap_InvestmentTypeCategorizationMember_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InvestmentTypeAxis" xlink:label="InvestmentTypeAxis" xlink:title="InvestmentTypeAxis" />
<link:label xlink:type="resource" xlink:label="us-gaap_InvestmentTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_InvestmentTypeAxis_lbl" xml:lang="en-US" id="us-gaap_InvestmentTypeAxis_lbl">Investment Type [Axis]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentTypeAxis" xlink:to="us-gaap_InvestmentTypeAxis_lbl" xlink:title="label: InvestmentTypeAxis to us-gaap_InvestmentTypeAxis_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Investments" xlink:label="Investments" xlink:title="Investments" />
<link:label xlink:type="resource" xlink:label="us-gaap_Investments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_Investments_lbl" xml:lang="en-US" id="us-gaap_Investments_lbl">Affiliated investments</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Investments" xlink:to="us-gaap_Investments_lbl" xlink:title="label: Investments to us-gaap_Investments_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LaborAndRelatedExpense" xlink:label="LaborAndRelatedExpense" xlink:title="LaborAndRelatedExpense" />
<link:label xlink:type="resource" xlink:label="us-gaap_LaborAndRelatedExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_LaborAndRelatedExpense_lbl" xml:lang="en-US" id="us-gaap_LaborAndRelatedExpense_lbl">Compensation and related costs</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaborAndRelatedExpense" xlink:to="us-gaap_LaborAndRelatedExpense_lbl" xlink:title="label: LaborAndRelatedExpense to us-gaap_LaborAndRelatedExpense_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_LaborAndRelatedExpense_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LaborAndRelatedExpense_lbl1" xml:lang="en-US" id="us-gaap_LaborAndRelatedExpense_lbl1">Labor and Related Expense</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaborAndRelatedExpense" xlink:to="us-gaap_LaborAndRelatedExpense_lbl1" xlink:title="label: LaborAndRelatedExpense to us-gaap_LaborAndRelatedExpense_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="LiabilitiesAndStockholdersEquityAbstract" xlink:title="LiabilitiesAndStockholdersEquityAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xml:lang="en-US" id="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl">LIABILITIES AND EQUITY</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xlink:title="label: LiabilitiesAndStockholdersEquityAbstract to us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl1" xml:lang="en-US" id="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl1">Liabilities and Equity [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl1" xlink:title="label: LiabilitiesAndStockholdersEquityAbstract to us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="LiabilitiesAndStockholdersEquity" xlink:title="LiabilitiesAndStockholdersEquity" />
<link:label xlink:type="resource" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US" id="us-gaap_LiabilitiesAndStockholdersEquity_lbl">Total liabilities and equity</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xlink:title="label: LiabilitiesAndStockholdersEquity to us-gaap_LiabilitiesAndStockholdersEquity_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LiabilitiesAndStockholdersEquity_lbl1" xml:lang="en-US" id="us-gaap_LiabilitiesAndStockholdersEquity_lbl1">Liabilities and Equity</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl1" xlink:title="label: LiabilitiesAndStockholdersEquity to us-gaap_LiabilitiesAndStockholdersEquity_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Liabilities" xlink:label="Liabilities" xlink:title="Liabilities" />
<link:label xlink:type="resource" xlink:label="us-gaap_Liabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_Liabilities_lbl" xml:lang="en-US" id="us-gaap_Liabilities_lbl">Total liabilities</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Liabilities" xlink:to="us-gaap_Liabilities_lbl" xlink:title="label: Liabilities to us-gaap_Liabilities_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_Liabilities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_Liabilities_lbl1" xml:lang="en-US" id="us-gaap_Liabilities_lbl1">Liabilities</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Liabilities" xlink:to="us-gaap_Liabilities_lbl1" xlink:title="label: Liabilities to us-gaap_Liabilities_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:label="MinorityInterestOwnershipPercentageByParent" xlink:title="MinorityInterestOwnershipPercentageByParent" />
<link:label xlink:type="resource" xlink:label="us-gaap_MinorityInterestOwnershipPercentageByParent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_MinorityInterestOwnershipPercentageByParent_lbl" xml:lang="en-US" id="us-gaap_MinorityInterestOwnershipPercentageByParent_lbl">Ownership interest</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinorityInterestOwnershipPercentageByParent" xlink:to="us-gaap_MinorityInterestOwnershipPercentageByParent_lbl" xlink:title="label: MinorityInterestOwnershipPercentageByParent to us-gaap_MinorityInterestOwnershipPercentageByParent_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_MinorityInterestOwnershipPercentageByParent_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_MinorityInterestOwnershipPercentageByParent_lbl1" xml:lang="en-US" id="us-gaap_MinorityInterestOwnershipPercentageByParent_lbl1">Noncontrolling Interest, Ownership Percentage by Parent</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinorityInterestOwnershipPercentageByParent" xlink:to="us-gaap_MinorityInterestOwnershipPercentageByParent_lbl1" xlink:title="label: MinorityInterestOwnershipPercentageByParent to us-gaap_MinorityInterestOwnershipPercentageByParent_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="NetCashProvidedByUsedInOperatingActivities" xlink:title="NetCashProvidedByUsedInOperatingActivities" />
<link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl">Net cash used in operating activities</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xlink:title="label: NetCashProvidedByUsedInOperatingActivities to us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl1" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl1">Net Cash Provided by (Used in) Operating Activities</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl1" xlink:title="label: NetCashProvidedByUsedInOperatingActivities to us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:title="NetCashProvidedByUsedInOperatingActivitiesAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl">Cash flows from operating activities:</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xlink:title="label: NetCashProvidedByUsedInOperatingActivitiesAbstract to us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetIncomeLoss" xlink:label="NetIncomeLoss" xlink:title="NetIncomeLoss" />
<link:label xlink:type="resource" xlink:label="us-gaap_NetIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US" id="us-gaap_NetIncomeLoss_lbl">Net loss</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl" xlink:title="label: NetIncomeLoss to us-gaap_NetIncomeLoss_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_NetIncomeLoss_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetIncomeLoss_lbl1" xml:lang="en-US" id="us-gaap_NetIncomeLoss_lbl1">Net loss</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl1" xlink:title="label: NetIncomeLoss to us-gaap_NetIncomeLoss_lbl1" />
<link:label xlink:type="resource" xlink:label="us-gaap_NetIncomeLoss_lbl2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_NetIncomeLoss_lbl2" xml:lang="en-US" id="us-gaap_NetIncomeLoss_lbl2">Net loss attributable to shareholders</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl2" xlink:title="label: NetIncomeLoss to us-gaap_NetIncomeLoss_lbl2" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OccupancyNet" xlink:label="OccupancyNet" xlink:title="OccupancyNet" />
<link:label xlink:type="resource" xlink:label="us-gaap_OccupancyNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_OccupancyNet_lbl" xml:lang="en-US" id="us-gaap_OccupancyNet_lbl">Occupancy and equipment</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OccupancyNet" xlink:to="us-gaap_OccupancyNet_lbl" xlink:title="label: OccupancyNet to us-gaap_OccupancyNet_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_OccupancyNet_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OccupancyNet_lbl1" xml:lang="en-US" id="us-gaap_OccupancyNet_lbl1">Occupancy, Net</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OccupancyNet" xlink:to="us-gaap_OccupancyNet_lbl1" xlink:title="label: OccupancyNet to us-gaap_OccupancyNet_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="OperatingExpensesAbstract" xlink:title="OperatingExpensesAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OperatingExpensesAbstract_lbl" xml:lang="en-US" id="us-gaap_OperatingExpensesAbstract_lbl">Expenses</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpensesAbstract" xlink:to="us-gaap_OperatingExpensesAbstract_lbl" xlink:title="label: OperatingExpensesAbstract to us-gaap_OperatingExpensesAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingExpenses" xlink:label="OperatingExpenses" xlink:title="OperatingExpenses" />
<link:label xlink:type="resource" xlink:label="us-gaap_OperatingExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_OperatingExpenses_lbl" xml:lang="en-US" id="us-gaap_OperatingExpenses_lbl">Total expenses</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpenses" xlink:to="us-gaap_OperatingExpenses_lbl" xlink:title="label: OperatingExpenses to us-gaap_OperatingExpenses_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_OperatingExpenses_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OperatingExpenses_lbl1" xml:lang="en-US" id="us-gaap_OperatingExpenses_lbl1">Operating Expenses</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpenses" xlink:to="us-gaap_OperatingExpenses_lbl1" xlink:title="label: OperatingExpenses to us-gaap_OperatingExpenses_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:title="OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xml:lang="en-US" id="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl">Organization and Business Description [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xlink:title="label: OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract to us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherAssets" xlink:label="OtherAssets" xlink:title="OtherAssets" />
<link:label xlink:type="resource" xlink:label="us-gaap_OtherAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OtherAssets_lbl" xml:lang="en-US" id="us-gaap_OtherAssets_lbl">Other assets</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAssets" xlink:to="us-gaap_OtherAssets_lbl" xlink:title="label: OtherAssets to us-gaap_OtherAssets_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock" xlink:label="PensionAndOtherPostretirementBenefitsDisclosureTextBlock" xlink:title="PensionAndOtherPostretirementBenefitsDisclosureTextBlock" />
<link:label xlink:type="resource" xlink:label="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock_lbl" xml:lang="en-US" id="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock_lbl">Retirement Plan</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PensionAndOtherPostretirementBenefitsDisclosureTextBlock" xlink:to="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock_lbl" xlink:title="label: PensionAndOtherPostretirementBenefitsDisclosureTextBlock to us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="PropertyPlantAndEquipmentNet" xlink:title="PropertyPlantAndEquipmentNet" />
<link:label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US" id="us-gaap_PropertyPlantAndEquipmentNet_lbl">Fixed assets, net of accumulated depreciation of $57,640 and $52,169 respectively</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl" xlink:title="label: PropertyPlantAndEquipmentNet to us-gaap_PropertyPlantAndEquipmentNet_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PropertyPlantAndEquipmentNet_lbl1" xml:lang="en-US" id="us-gaap_PropertyPlantAndEquipmentNet_lbl1">Property, Plant and Equipment, Net</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl1" xlink:title="label: PropertyPlantAndEquipmentNet to us-gaap_PropertyPlantAndEquipmentNet_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations" xlink:label="ReceivablesFromBrokersDealersAndClearingOrganizations" xlink:title="ReceivablesFromBrokersDealersAndClearingOrganizations" />
<link:label xlink:type="resource" xlink:label="us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations_lbl" xml:lang="en-US" id="us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations_lbl">Receivables from brokers and clearing organizations</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesFromBrokersDealersAndClearingOrganizations" xlink:to="us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations_lbl" xlink:title="label: ReceivablesFromBrokersDealersAndClearingOrganizations to us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="RelatedPartyTransactionsAbstract" xlink:title="RelatedPartyTransactionsAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RelatedPartyTransactionsAbstract_lbl" xml:lang="en-US" id="us-gaap_RelatedPartyTransactionsAbstract_lbl">Related Party Transactions [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionsAbstract" xlink:to="us-gaap_RelatedPartyTransactionsAbstract_lbl" xlink:title="label: RelatedPartyTransactionsAbstract to us-gaap_RelatedPartyTransactionsAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="RelatedPartyTransactionLineItems" xlink:title="RelatedPartyTransactionLineItems" />
<link:label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RelatedPartyTransactionLineItems_lbl" xml:lang="en-US" id="us-gaap_RelatedPartyTransactionLineItems_lbl">Related Party Transaction [Line Items]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionLineItems" xlink:to="us-gaap_RelatedPartyTransactionLineItems_lbl" xlink:title="label: RelatedPartyTransactionLineItems to us-gaap_RelatedPartyTransactionLineItems_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:label="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:title="RelatedPartyTransactionDueFromToRelatedPartyAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl" xml:lang="en-US" id="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl">Related Party Transactions [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl" xlink:title="label: RelatedPartyTransactionDueFromToRelatedPartyAbstract to us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl1" xml:lang="en-US" id="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl1">Related Party Transaction, Due from (to) Related Party [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl1" xlink:title="label: RelatedPartyTransactionDueFromToRelatedPartyAbstract to us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="RelatedPartyTransactionsDisclosureTextBlock" xlink:title="RelatedPartyTransactionsDisclosureTextBlock" />
<link:label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xml:lang="en-US" id="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl">Related Party Transactions</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionsDisclosureTextBlock" xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xlink:title="label: RelatedPartyTransactionsDisclosureTextBlock to us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RelatedPartyDomain" xlink:label="RelatedPartyDomain" xlink:title="RelatedPartyDomain" />
<link:label xlink:type="resource" xlink:label="us-gaap_RelatedPartyDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RelatedPartyDomain_lbl" xml:lang="en-US" id="us-gaap_RelatedPartyDomain_lbl">Related Party [Domain]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyDomain" xlink:to="us-gaap_RelatedPartyDomain_lbl" xlink:title="label: RelatedPartyDomain to us-gaap_RelatedPartyDomain_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="RelatedPartyTransactionsByRelatedPartyAxis" />
<link:label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" xml:lang="en-US" id="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl">Related Party [Axis]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" xlink:title="label: RelatedPartyTransactionsByRelatedPartyAxis to us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RestrictedCash" xlink:label="RestrictedCash" xlink:title="RestrictedCash" />
<link:label xlink:type="resource" xlink:label="us-gaap_RestrictedCash_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_RestrictedCash_lbl" xml:lang="en-US" id="us-gaap_RestrictedCash_lbl">Restricted cash: deposits with clearing organizations</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCash" xlink:to="us-gaap_RestrictedCash_lbl" xlink:title="label: RestrictedCash to us-gaap_RestrictedCash_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_RestrictedCash_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RestrictedCash_lbl1" xml:lang="en-US" id="us-gaap_RestrictedCash_lbl1">Restricted Cash</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCash" xlink:to="us-gaap_RestrictedCash_lbl1" xlink:title="label: RestrictedCash to us-gaap_RestrictedCash_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="RetainedEarningsAccumulatedDeficit" xlink:title="RetainedEarningsAccumulatedDeficit" />
<link:label xlink:type="resource" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US" id="us-gaap_RetainedEarningsAccumulatedDeficit_lbl">Accumulated deficit</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsAccumulatedDeficit" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xlink:title="label: RetainedEarningsAccumulatedDeficit to us-gaap_RetainedEarningsAccumulatedDeficit_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RetainedEarningsMember" xlink:label="RetainedEarningsMember" xlink:title="RetainedEarningsMember" />
<link:label xlink:type="resource" xlink:label="us-gaap_RetainedEarningsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_RetainedEarningsMember_lbl" xml:lang="en-US" id="us-gaap_RetainedEarningsMember_lbl">Accumulated Deficit [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsMember" xlink:to="us-gaap_RetainedEarningsMember_lbl" xlink:title="label: RetainedEarningsMember to us-gaap_RetainedEarningsMember_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_RetainedEarningsMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RetainedEarningsMember_lbl1" xml:lang="en-US" id="us-gaap_RetainedEarningsMember_lbl1">Retained Earnings [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsMember" xlink:to="us-gaap_RetainedEarningsMember_lbl1" xlink:title="label: RetainedEarningsMember to us-gaap_RetainedEarningsMember_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RevenueNotFromContractWithCustomerOther" xlink:label="RevenueNotFromContractWithCustomerOther" xlink:title="RevenueNotFromContractWithCustomerOther" />
<link:label xlink:type="resource" xlink:label="us-gaap_RevenueNotFromContractWithCustomerOther_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_RevenueNotFromContractWithCustomerOther_lbl" xml:lang="en-US" id="us-gaap_RevenueNotFromContractWithCustomerOther_lbl">Other revenues</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueNotFromContractWithCustomerOther" xlink:to="us-gaap_RevenueNotFromContractWithCustomerOther_lbl" xlink:title="label: RevenueNotFromContractWithCustomerOther to us-gaap_RevenueNotFromContractWithCustomerOther_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_RevenueNotFromContractWithCustomerOther_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RevenueNotFromContractWithCustomerOther_lbl1" xml:lang="en-US" id="us-gaap_RevenueNotFromContractWithCustomerOther_lbl1">Revenue Not from Contract with Customer, Other</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueNotFromContractWithCustomerOther" xlink:to="us-gaap_RevenueNotFromContractWithCustomerOther_lbl1" xlink:title="label: RevenueNotFromContractWithCustomerOther to us-gaap_RevenueNotFromContractWithCustomerOther_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax" xlink:label="RevenueFromContractWithCustomerExcludingAssessedTax" xlink:title="RevenueFromContractWithCustomerExcludingAssessedTax" />
<link:label xlink:type="resource" xlink:label="us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_lbl" xml:lang="en-US" id="us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_lbl">Total revenues</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromContractWithCustomerExcludingAssessedTax" xlink:to="us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_lbl" xlink:title="label: RevenueFromContractWithCustomerExcludingAssessedTax to us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RevenueFromContractWithCustomerTextBlock" xlink:label="RevenueFromContractWithCustomerTextBlock" xlink:title="RevenueFromContractWithCustomerTextBlock" />
<link:label xlink:type="resource" xlink:label="us-gaap_RevenueFromContractWithCustomerTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RevenueFromContractWithCustomerTextBlock_lbl" xml:lang="en-US" id="us-gaap_RevenueFromContractWithCustomerTextBlock_lbl">Revenue from Contracts with Customers</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromContractWithCustomerTextBlock" xlink:to="us-gaap_RevenueFromContractWithCustomerTextBlock_lbl" xlink:title="label: RevenueFromContractWithCustomerTextBlock to us-gaap_RevenueFromContractWithCustomerTextBlock_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RevenueFromRelatedParties" xlink:label="RevenueFromRelatedParties" xlink:title="RevenueFromRelatedParties" />
<link:label xlink:type="resource" xlink:label="us-gaap_RevenueFromRelatedParties_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RevenueFromRelatedParties_lbl" xml:lang="en-US" id="us-gaap_RevenueFromRelatedParties_lbl">Revenue from related party transactions</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromRelatedParties" xlink:to="us-gaap_RevenueFromRelatedParties_lbl" xlink:title="label: RevenueFromRelatedParties to us-gaap_RevenueFromRelatedParties_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RevenueFromContractWithCustomerAbstract" xlink:label="RevenueFromContractWithCustomerAbstract" xlink:title="RevenueFromContractWithCustomerAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_RevenueFromContractWithCustomerAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RevenueFromContractWithCustomerAbstract_lbl" xml:lang="en-US" id="us-gaap_RevenueFromContractWithCustomerAbstract_lbl">Revenue from Contracts with Customers [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromContractWithCustomerAbstract" xlink:to="us-gaap_RevenueFromContractWithCustomerAbstract_lbl" xlink:title="label: RevenueFromContractWithCustomerAbstract to us-gaap_RevenueFromContractWithCustomerAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RevenuesAbstract" xlink:label="RevenuesAbstract" xlink:title="RevenuesAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_RevenuesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_RevenuesAbstract_lbl" xml:lang="en-US" id="us-gaap_RevenuesAbstract_lbl">Revenues</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_lbl" xlink:title="label: RevenuesAbstract to us-gaap_RevenuesAbstract_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_RevenuesAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RevenuesAbstract_lbl1" xml:lang="en-US" id="us-gaap_RevenuesAbstract_lbl1">Revenues [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_lbl1" xlink:title="label: RevenuesAbstract to us-gaap_RevenuesAbstract_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Revenues" xlink:label="Revenues" xlink:title="Revenues" />
<link:label xlink:type="resource" xlink:label="us-gaap_Revenues_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_Revenues_lbl" xml:lang="en-US" id="us-gaap_Revenues_lbl">Total revenues</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Revenues" xlink:to="us-gaap_Revenues_lbl" xlink:title="label: Revenues to us-gaap_Revenues_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_Revenues_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_Revenues_lbl1" xml:lang="en-US" id="us-gaap_Revenues_lbl1">Revenues</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Revenues" xlink:to="us-gaap_Revenues_lbl1" xlink:title="label: Revenues to us-gaap_Revenues_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:label="ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:title="ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" />
<link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl">Computations of Basic and Diluted Net Loss Per Share</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:to="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl" xlink:title="label: ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock to us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:label="ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:title="ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" />
<link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_lbl">Assets Measured at Fair Value on a Recurring Basis</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:to="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_lbl" xlink:title="label: ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock to us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_lbl1" xml:lang="en-US" id="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_lbl1">Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:to="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_lbl1" xlink:title="label: ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock to us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTable" xlink:label="ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTable" xlink:title="ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTable" />
<link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTable_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTable_lbl">Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTable" xlink:to="us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTable_lbl" xlink:title="label: ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTable to us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTable_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:title="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" />
<link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl">Schedule of Related Party Transactions, by Related Party [Table]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xlink:title="label: ScheduleOfRelatedPartyTransactionsByRelatedPartyTable to us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ScheduleOfStockByClassTable" xlink:label="ScheduleOfStockByClassTable" xlink:title="ScheduleOfStockByClassTable" />
<link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfStockByClassTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfStockByClassTable_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfStockByClassTable_lbl">Schedule of Stock by Class [Table]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfStockByClassTable" xlink:to="us-gaap_ScheduleOfStockByClassTable_lbl" xlink:title="label: ScheduleOfStockByClassTable to us-gaap_ScheduleOfStockByClassTable_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="SignificantAccountingPoliciesTextBlock" xlink:title="SignificantAccountingPoliciesTextBlock" />
<link:label xlink:type="resource" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US" id="us-gaap_SignificantAccountingPoliciesTextBlock_lbl">Significant Accounting Policies</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xlink:title="label: SignificantAccountingPoliciesTextBlock to us-gaap_SignificantAccountingPoliciesTextBlock_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="StatementOfFinancialPositionAbstract" xlink:title="StatementOfFinancialPositionAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_StatementOfFinancialPositionAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US" id="us-gaap_StatementOfFinancialPositionAbstract_lbl">CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfFinancialPositionAbstract" xlink:to="us-gaap_StatementOfFinancialPositionAbstract_lbl" xlink:title="label: StatementOfFinancialPositionAbstract to us-gaap_StatementOfFinancialPositionAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="StatementEquityComponentsAxis" xlink:title="StatementEquityComponentsAxis" />
<link:label xlink:type="resource" xlink:label="us-gaap_StatementEquityComponentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementEquityComponentsAxis_lbl" xml:lang="en-US" id="us-gaap_StatementEquityComponentsAxis_lbl">Equity Components [Axis]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementEquityComponentsAxis" xlink:to="us-gaap_StatementEquityComponentsAxis_lbl" xlink:title="label: StatementEquityComponentsAxis to us-gaap_StatementEquityComponentsAxis_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StatementLineItems" xlink:label="StatementLineItems" xlink:title="StatementLineItems" />
<link:label xlink:type="resource" xlink:label="us-gaap_StatementLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementLineItems_lbl" xml:lang="en-US" id="us-gaap_StatementLineItems_lbl">Statement [Line Items]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementLineItems" xlink:to="us-gaap_StatementLineItems_lbl" xlink:title="label: StatementLineItems to us-gaap_StatementLineItems_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="StatementOfCashFlowsAbstract" xlink:title="StatementOfCashFlowsAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US" id="us-gaap_StatementOfCashFlowsAbstract_lbl">CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract_lbl" xlink:title="label: StatementOfCashFlowsAbstract to us-gaap_StatementOfCashFlowsAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StatementTable" xlink:label="StatementTable" xlink:title="StatementTable" />
<link:label xlink:type="resource" xlink:label="us-gaap_StatementTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementTable_lbl" xml:lang="en-US" id="us-gaap_StatementTable_lbl">Statement [Table]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementTable" xlink:to="us-gaap_StatementTable_lbl" xlink:title="label: StatementTable to us-gaap_StatementTable_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="StatementOfStockholdersEquityAbstract" xlink:title="StatementOfStockholdersEquityAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xml:lang="en-US" id="us-gaap_StatementOfStockholdersEquityAbstract_lbl">CONDENSED CONSOLIDATED STATEMENTS OF EQUITY [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfStockholdersEquityAbstract" xlink:to="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xlink:title="label: StatementOfStockholdersEquityAbstract to us-gaap_StatementOfStockholdersEquityAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StockIssuedDuringPeriodSharesAcquisitions" xlink:label="StockIssuedDuringPeriodSharesAcquisitions" xlink:title="StockIssuedDuringPeriodSharesAcquisitions" />
<link:label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl" xml:lang="en-US" id="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl">Common stock issued in conjunction with merger (in shares)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodSharesAcquisitions" xlink:to="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl" xlink:title="label: StockIssuedDuringPeriodSharesAcquisitions to us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl1" xml:lang="en-US" id="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl1">Stock Issued During Period, Shares, Acquisitions</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodSharesAcquisitions" xlink:to="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl1" xlink:title="label: StockIssuedDuringPeriodSharesAcquisitions to us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StockholdersEquity" xlink:label="StockholdersEquity" xlink:title="StockholdersEquity" />
<link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" id="us-gaap_StockholdersEquity_lbl">Total equity</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl" xlink:title="label: StockholdersEquity to us-gaap_StockholdersEquity_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquity_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="us-gaap_StockholdersEquity_lbl1" xml:lang="en-US" id="us-gaap_StockholdersEquity_lbl1">Balance</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl1" xlink:title="label: StockholdersEquity to us-gaap_StockholdersEquity_lbl1" />
<link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquity_lbl2" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_StockholdersEquity_lbl2" xml:lang="en-US" id="us-gaap_StockholdersEquity_lbl2">Balance</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl2" xlink:title="label: StockholdersEquity to us-gaap_StockholdersEquity_lbl2" />
<link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquity_lbl3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockholdersEquity_lbl3" xml:lang="en-US" id="us-gaap_StockholdersEquity_lbl3">Stockholders' Equity Attributable to Parent</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl3" xlink:title="label: StockholdersEquity to us-gaap_StockholdersEquity_lbl3" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StockholdersEquityNoteStockSplitConversionRatio1" xlink:label="StockholdersEquityNoteStockSplitConversionRatio1" xlink:title="StockholdersEquityNoteStockSplitConversionRatio1" />
<link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquityNoteStockSplitConversionRatio1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockholdersEquityNoteStockSplitConversionRatio1_lbl" xml:lang="en-US" id="us-gaap_StockholdersEquityNoteStockSplitConversionRatio1_lbl">Reverse stock split ratio</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquityNoteStockSplitConversionRatio1" xlink:to="us-gaap_StockholdersEquityNoteStockSplitConversionRatio1_lbl" xlink:title="label: StockholdersEquityNoteStockSplitConversionRatio1 to us-gaap_StockholdersEquityNoteStockSplitConversionRatio1_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:label="StockholdersEquityNoteDisclosureTextBlock" xlink:title="StockholdersEquityNoteDisclosureTextBlock" />
<link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xml:lang="en-US" id="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl">Equity</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquityNoteDisclosureTextBlock" xlink:to="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xlink:title="label: StockholdersEquityNoteDisclosureTextBlock to us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl1" xml:lang="en-US" id="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl1">Stockholders' Equity Note Disclosure [Text Block]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquityNoteDisclosureTextBlock" xlink:to="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl1" xlink:title="label: StockholdersEquityNoteDisclosureTextBlock to us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="StockholdersEquityAbstract" xlink:title="StockholdersEquityAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US" id="us-gaap_StockholdersEquityAbstract_lbl">Equity</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl" xlink:title="label: StockholdersEquityAbstract to us-gaap_StockholdersEquityAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StockholdersEquityNoteAbstract" xlink:label="StockholdersEquityNoteAbstract" xlink:title="StockholdersEquityNoteAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquityNoteAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockholdersEquityNoteAbstract_lbl" xml:lang="en-US" id="us-gaap_StockholdersEquityNoteAbstract_lbl">Stockholders' Equity [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquityNoteAbstract" xlink:to="us-gaap_StockholdersEquityNoteAbstract_lbl" xlink:title="label: StockholdersEquityNoteAbstract to us-gaap_StockholdersEquityNoteAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="SubsequentEventsTextBlock" xlink:title="SubsequentEventsTextBlock" />
<link:label xlink:type="resource" xlink:label="us-gaap_SubsequentEventsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SubsequentEventsTextBlock_lbl" xml:lang="en-US" id="us-gaap_SubsequentEventsTextBlock_lbl">Subsequent Events</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsequentEventsTextBlock" xlink:to="us-gaap_SubsequentEventsTextBlock_lbl" xlink:title="label: SubsequentEventsTextBlock to us-gaap_SubsequentEventsTextBlock_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_SubsequentEventsAbstract" xlink:label="SubsequentEventsAbstract" xlink:title="SubsequentEventsAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_SubsequentEventsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SubsequentEventsAbstract_lbl" xml:lang="en-US" id="us-gaap_SubsequentEventsAbstract_lbl">Subsequent Events [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsequentEventsAbstract" xlink:to="us-gaap_SubsequentEventsAbstract_lbl" xlink:title="label: SubsequentEventsAbstract to us-gaap_SubsequentEventsAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_UnderwritingIncomeLoss" xlink:label="UnderwritingIncomeLoss" xlink:title="UnderwritingIncomeLoss" />
<link:label xlink:type="resource" xlink:label="us-gaap_UnderwritingIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_UnderwritingIncomeLoss_lbl" xml:lang="en-US" id="us-gaap_UnderwritingIncomeLoss_lbl">Underwriting fees</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnderwritingIncomeLoss" xlink:to="us-gaap_UnderwritingIncomeLoss_lbl" xlink:title="label: UnderwritingIncomeLoss to us-gaap_UnderwritingIncomeLoss_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_UnderwritingIncomeLoss_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_UnderwritingIncomeLoss_lbl1" xml:lang="en-US" id="us-gaap_UnderwritingIncomeLoss_lbl1">Underwriting Income (Loss)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnderwritingIncomeLoss" xlink:to="us-gaap_UnderwritingIncomeLoss_lbl1" xlink:title="label: UnderwritingIncomeLoss to us-gaap_UnderwritingIncomeLoss_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_UseOfEstimates" xlink:label="UseOfEstimates" xlink:title="UseOfEstimates" />
<link:label xlink:type="resource" xlink:label="us-gaap_UseOfEstimates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_UseOfEstimates_lbl" xml:lang="en-US" id="us-gaap_UseOfEstimates_lbl">Use of Estimates</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UseOfEstimates" xlink:to="us-gaap_UseOfEstimates_lbl" xlink:title="label: UseOfEstimates to us-gaap_UseOfEstimates_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="WeightedAverageNumberOfDilutedSharesOutstanding" xlink:title="WeightedAverageNumberOfDilutedSharesOutstanding" />
<link:label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US" id="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl">Weighted average shares outstanding, diluted (in shares)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xlink:title="label: WeightedAverageNumberOfDilutedSharesOutstanding to us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl1" xml:lang="en-US" id="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl1">Diluted (in shares)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl1" xlink:title="label: WeightedAverageNumberOfDilutedSharesOutstanding to us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl1" />
<link:label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl2" xml:lang="en-US" id="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl2">Weighted Average Number of Shares Outstanding, Diluted</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl2" xlink:title="label: WeightedAverageNumberOfDilutedSharesOutstanding to us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl2" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="WeightedAverageNumberOfSharesOutstandingBasic" xlink:title="WeightedAverageNumberOfSharesOutstandingBasic" />
<link:label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US" id="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl">Weighted average shares outstanding, basic (in shares)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xlink:title="label: WeightedAverageNumberOfSharesOutstandingBasic to us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl1" xml:lang="en-US" id="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl1">Basic (in shares)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl1" xlink:title="label: WeightedAverageNumberOfSharesOutstandingBasic to us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:label="WeightedAverageNumberOfSharesOutstandingAbstract" xlink:title="WeightedAverageNumberOfSharesOutstandingAbstract" />
<link:label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" xml:lang="en-US" id="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl">Weighted average shares outstanding:</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" xlink:title="label: WeightedAverageNumberOfSharesOutstandingAbstract to us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" />
<link:label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl1" xml:lang="en-US" id="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl1">Weighted Average Number of Shares Outstanding, Diluted [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl1" xlink:title="label: WeightedAverageNumberOfSharesOutstandingAbstract to us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_AffiliatedEntityMember" xlink:label="AffiliatedEntityMember" xlink:title="AffiliatedEntityMember" />
<link:label xlink:type="resource" xlink:label="srt_AffiliatedEntityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_AffiliatedEntityMember_lbl" xml:lang="en-US" id="srt_AffiliatedEntityMember_lbl">Affiliated Entities [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AffiliatedEntityMember" xlink:to="srt_AffiliatedEntityMember_lbl" xlink:title="label: AffiliatedEntityMember to srt_AffiliatedEntityMember_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_AlternativeExcessNetCapital" xlink:label="AlternativeExcessNetCapital" xlink:title="AlternativeExcessNetCapital" />
<link:label xlink:type="resource" xlink:label="srt_AlternativeExcessNetCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_AlternativeExcessNetCapital_lbl" xml:lang="en-US" id="srt_AlternativeExcessNetCapital_lbl">Excess net capital than required amount</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AlternativeExcessNetCapital" xlink:to="srt_AlternativeExcessNetCapital_lbl" xlink:title="label: AlternativeExcessNetCapital to srt_AlternativeExcessNetCapital_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_CounterpartyNameAxis" xlink:label="CounterpartyNameAxis" xlink:title="CounterpartyNameAxis" />
<link:label xlink:type="resource" xlink:label="srt_CounterpartyNameAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_CounterpartyNameAxis_lbl" xml:lang="en-US" id="srt_CounterpartyNameAxis_lbl">Counterparty Name [Axis]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CounterpartyNameAxis" xlink:to="srt_CounterpartyNameAxis_lbl" xlink:title="label: CounterpartyNameAxis to srt_CounterpartyNameAxis_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_ComputationOfNetCapitalRequirementAlternativeStandardAbstract" xlink:label="ComputationOfNetCapitalRequirementAlternativeStandardAbstract" xlink:title="ComputationOfNetCapitalRequirementAlternativeStandardAbstract" />
<link:label xlink:type="resource" xlink:label="srt_ComputationOfNetCapitalRequirementAlternativeStandardAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="srt_ComputationOfNetCapitalRequirementAlternativeStandardAbstract_lbl" xml:lang="en-US" id="srt_ComputationOfNetCapitalRequirementAlternativeStandardAbstract_lbl">Net Capital [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComputationOfNetCapitalRequirementAlternativeStandardAbstract" xlink:to="srt_ComputationOfNetCapitalRequirementAlternativeStandardAbstract_lbl" xlink:title="label: ComputationOfNetCapitalRequirementAlternativeStandardAbstract to srt_ComputationOfNetCapitalRequirementAlternativeStandardAbstract_lbl" />
<link:label xlink:type="resource" xlink:label="srt_ComputationOfNetCapitalRequirementAlternativeStandardAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_ComputationOfNetCapitalRequirementAlternativeStandardAbstract_lbl1" xml:lang="en-US" id="srt_ComputationOfNetCapitalRequirementAlternativeStandardAbstract_lbl1">Broker-Dealer, Net Capital Requirement, Alternative Standard [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComputationOfNetCapitalRequirementAlternativeStandardAbstract" xlink:to="srt_ComputationOfNetCapitalRequirementAlternativeStandardAbstract_lbl1" xlink:title="label: ComputationOfNetCapitalRequirementAlternativeStandardAbstract to srt_ComputationOfNetCapitalRequirementAlternativeStandardAbstract_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_NetCapital" xlink:label="NetCapital" xlink:title="NetCapital" />
<link:label xlink:type="resource" xlink:label="srt_NetCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="srt_NetCapital_lbl" xml:lang="en-US" id="srt_NetCapital_lbl">Net capital</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCapital" xlink:to="srt_NetCapital_lbl" xlink:title="label: NetCapital to srt_NetCapital_lbl" />
<link:label xlink:type="resource" xlink:label="srt_NetCapital_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_NetCapital_lbl1" xml:lang="en-US" id="srt_NetCapital_lbl1">Broker-Dealer, Net Capital</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCapital" xlink:to="srt_NetCapital_lbl1" xlink:title="label: NetCapital to srt_NetCapital_lbl1" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_OwnershipDomain" xlink:label="OwnershipDomain" xlink:title="OwnershipDomain" />
<link:label xlink:type="resource" xlink:label="srt_OwnershipDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_OwnershipDomain_lbl" xml:lang="en-US" id="srt_OwnershipDomain_lbl">Ownership [Domain]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OwnershipDomain" xlink:to="srt_OwnershipDomain_lbl" xlink:title="label: OwnershipDomain to srt_OwnershipDomain_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_OwnershipAxis" xlink:label="OwnershipAxis" xlink:title="OwnershipAxis" />
<link:label xlink:type="resource" xlink:label="srt_OwnershipAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_OwnershipAxis_lbl" xml:lang="en-US" id="srt_OwnershipAxis_lbl">Ownership [Axis]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OwnershipAxis" xlink:to="srt_OwnershipAxis_lbl" xlink:title="label: OwnershipAxis to srt_OwnershipAxis_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_ProductsAndServicesDomain" xlink:label="ProductsAndServicesDomain" xlink:title="ProductsAndServicesDomain" />
<link:label xlink:type="resource" xlink:label="srt_ProductsAndServicesDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_ProductsAndServicesDomain_lbl" xml:lang="en-US" id="srt_ProductsAndServicesDomain_lbl">Product and Service [Domain]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProductsAndServicesDomain" xlink:to="srt_ProductsAndServicesDomain_lbl" xlink:title="label: ProductsAndServicesDomain to srt_ProductsAndServicesDomain_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_ProductOrServiceAxis" xlink:label="ProductOrServiceAxis" xlink:title="ProductOrServiceAxis" />
<link:label xlink:type="resource" xlink:label="srt_ProductOrServiceAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_ProductOrServiceAxis_lbl" xml:lang="en-US" id="srt_ProductOrServiceAxis_lbl">Product and Service [Axis]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProductOrServiceAxis" xlink:to="srt_ProductOrServiceAxis_lbl" xlink:title="label: ProductOrServiceAxis to srt_ProductOrServiceAxis_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_RegulatoryCapitalRequirementsAbstract" xlink:label="RegulatoryCapitalRequirementsAbstract" xlink:title="RegulatoryCapitalRequirementsAbstract" />
<link:label xlink:type="resource" xlink:label="srt_RegulatoryCapitalRequirementsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_RegulatoryCapitalRequirementsAbstract_lbl" xml:lang="en-US" id="srt_RegulatoryCapitalRequirementsAbstract_lbl">Net Capital Requirements [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RegulatoryCapitalRequirementsAbstract" xlink:to="srt_RegulatoryCapitalRequirementsAbstract_lbl" xlink:title="label: RegulatoryCapitalRequirementsAbstract to srt_RegulatoryCapitalRequirementsAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_RepurchaseAgreementCounterpartyNameDomain" xlink:label="RepurchaseAgreementCounterpartyNameDomain" xlink:title="RepurchaseAgreementCounterpartyNameDomain" />
<link:label xlink:type="resource" xlink:label="srt_RepurchaseAgreementCounterpartyNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_RepurchaseAgreementCounterpartyNameDomain_lbl" xml:lang="en-US" id="srt_RepurchaseAgreementCounterpartyNameDomain_lbl">Counterparty Name [Domain]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepurchaseAgreementCounterpartyNameDomain" xlink:to="srt_RepurchaseAgreementCounterpartyNameDomain_lbl" xlink:title="label: RepurchaseAgreementCounterpartyNameDomain to srt_RepurchaseAgreementCounterpartyNameDomain_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CoverAbstract" xlink:label="CoverAbstract" xlink:title="CoverAbstract" />
<link:label xlink:type="resource" xlink:label="dei_CoverAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_CoverAbstract_lbl" xml:lang="en-US" id="dei_CoverAbstract_lbl">Cover [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CoverAbstract" xlink:to="dei_CoverAbstract_lbl" xlink:title="label: CoverAbstract to dei_CoverAbstract_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentType" xlink:label="DocumentType" xlink:title="DocumentType" />
<link:label xlink:type="resource" xlink:label="dei_DocumentType_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentType_lbl" xml:lang="en-US" id="dei_DocumentType_lbl">Document Type</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentType" xlink:to="dei_DocumentType_lbl" xlink:title="label: DocumentType to dei_DocumentType_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentQuarterlyReport" xlink:label="DocumentQuarterlyReport" xlink:title="DocumentQuarterlyReport" />
<link:label xlink:type="resource" xlink:label="dei_DocumentQuarterlyReport_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentQuarterlyReport_lbl" xml:lang="en-US" id="dei_DocumentQuarterlyReport_lbl">Document Quarterly Report</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentQuarterlyReport" xlink:to="dei_DocumentQuarterlyReport_lbl" xlink:title="label: DocumentQuarterlyReport to dei_DocumentQuarterlyReport_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentTransitionReport" xlink:label="DocumentTransitionReport" xlink:title="DocumentTransitionReport" />
<link:label xlink:type="resource" xlink:label="dei_DocumentTransitionReport_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentTransitionReport_lbl" xml:lang="en-US" id="dei_DocumentTransitionReport_lbl">Document Transition Report</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport_lbl" xlink:title="label: DocumentTransitionReport to dei_DocumentTransitionReport_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityInteractiveDataCurrent" xlink:label="EntityInteractiveDataCurrent" xlink:title="EntityInteractiveDataCurrent" />
<link:label xlink:type="resource" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityInteractiveDataCurrent_lbl" xml:lang="en-US" id="dei_EntityInteractiveDataCurrent_lbl">Entity Interactive Data Current</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent_lbl" xlink:title="label: EntityInteractiveDataCurrent to dei_EntityInteractiveDataCurrent_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_AmendmentFlag" xlink:label="AmendmentFlag" xlink:title="AmendmentFlag" />
<link:label xlink:type="resource" xlink:label="dei_AmendmentFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_AmendmentFlag_lbl" xml:lang="en-US" id="dei_AmendmentFlag_lbl">Amendment Flag</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" xlink:title="label: AmendmentFlag to dei_AmendmentFlag_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentFiscalYearFocus" xlink:label="DocumentFiscalYearFocus" xlink:title="DocumentFiscalYearFocus" />
<link:label xlink:type="resource" xlink:label="dei_DocumentFiscalYearFocus_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US" id="dei_DocumentFiscalYearFocus_lbl">Document Fiscal Year Focus</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl" xlink:title="label: DocumentFiscalYearFocus to dei_DocumentFiscalYearFocus_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="DocumentFiscalPeriodFocus" xlink:title="DocumentFiscalPeriodFocus" />
<link:label xlink:type="resource" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US" id="dei_DocumentFiscalPeriodFocus_lbl">Document Fiscal Period Focus</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" xlink:title="label: DocumentFiscalPeriodFocus to dei_DocumentFiscalPeriodFocus_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentPeriodEndDate" xlink:label="DocumentPeriodEndDate" xlink:title="DocumentPeriodEndDate" />
<link:label xlink:type="resource" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US" id="dei_DocumentPeriodEndDate_lbl">Document Period End Date</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:title="label: DocumentPeriodEndDate to dei_DocumentPeriodEndDate_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityRegistrantName" xlink:label="EntityRegistrantName" xlink:title="EntityRegistrantName" />
<link:label xlink:type="resource" xlink:label="dei_EntityRegistrantName_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityRegistrantName_lbl" xml:lang="en-US" id="dei_EntityRegistrantName_lbl">Entity Registrant Name</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:title="label: EntityRegistrantName to dei_EntityRegistrantName_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityCentralIndexKey" xlink:label="EntityCentralIndexKey" xlink:title="EntityCentralIndexKey" />
<link:label xlink:type="resource" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityCentralIndexKey_lbl" xml:lang="en-US" id="dei_EntityCentralIndexKey_lbl">Entity Central Index Key</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:title="label: EntityCentralIndexKey to dei_EntityCentralIndexKey_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityFileNumber" xlink:label="EntityFileNumber" xlink:title="EntityFileNumber" />
<link:label xlink:type="resource" xlink:label="dei_EntityFileNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityFileNumber_lbl" xml:lang="en-US" id="dei_EntityFileNumber_lbl">Entity File Number</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" xlink:title="label: EntityFileNumber to dei_EntityFileNumber_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityTaxIdentificationNumber" xlink:label="EntityTaxIdentificationNumber" xlink:title="EntityTaxIdentificationNumber" />
<link:label xlink:type="resource" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityTaxIdentificationNumber_lbl" xml:lang="en-US" id="dei_EntityTaxIdentificationNumber_lbl">Entity Tax Identification Number</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" xlink:title="label: EntityTaxIdentificationNumber to dei_EntityTaxIdentificationNumber_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="EntityIncorporationStateCountryCode" xlink:title="EntityIncorporationStateCountryCode" />
<link:label xlink:type="resource" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US" id="dei_EntityIncorporationStateCountryCode_lbl">Entity Incorporation, State or Country Code</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" xlink:title="label: EntityIncorporationStateCountryCode to dei_EntityIncorporationStateCountryCode_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CurrentFiscalYearEndDate" xlink:label="CurrentFiscalYearEndDate" xlink:title="CurrentFiscalYearEndDate" />
<link:label xlink:type="resource" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US" id="dei_CurrentFiscalYearEndDate_lbl">Current Fiscal Year End Date</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xlink:title="label: CurrentFiscalYearEndDate to dei_CurrentFiscalYearEndDate_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityCurrentReportingStatus" xlink:label="EntityCurrentReportingStatus" xlink:title="EntityCurrentReportingStatus" />
<link:label xlink:type="resource" xlink:label="dei_EntityCurrentReportingStatus_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US" id="dei_EntityCurrentReportingStatus_lbl">Entity Current Reporting Status</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl" xlink:title="label: EntityCurrentReportingStatus to dei_EntityCurrentReportingStatus_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityShellCompany" xlink:label="EntityShellCompany" xlink:title="EntityShellCompany" />
<link:label xlink:type="resource" xlink:label="dei_EntityShellCompany_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityShellCompany_lbl" xml:lang="en-US" id="dei_EntityShellCompany_lbl">Entity Shell Company</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl" xlink:title="label: EntityShellCompany to dei_EntityShellCompany_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityFilerCategory" xlink:label="EntityFilerCategory" xlink:title="EntityFilerCategory" />
<link:label xlink:type="resource" xlink:label="dei_EntityFilerCategory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityFilerCategory_lbl" xml:lang="en-US" id="dei_EntityFilerCategory_lbl">Entity Filer Category</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl" xlink:title="label: EntityFilerCategory to dei_EntityFilerCategory_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntitySmallBusiness" xlink:label="EntitySmallBusiness" xlink:title="EntitySmallBusiness" />
<link:label xlink:type="resource" xlink:label="dei_EntitySmallBusiness_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntitySmallBusiness_lbl" xml:lang="en-US" id="dei_EntitySmallBusiness_lbl">Entity Small Business</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitySmallBusiness" xlink:to="dei_EntitySmallBusiness_lbl" xlink:title="label: EntitySmallBusiness to dei_EntitySmallBusiness_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityEmergingGrowthCompany" xlink:label="EntityEmergingGrowthCompany" xlink:title="EntityEmergingGrowthCompany" />
<link:label xlink:type="resource" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US" id="dei_EntityEmergingGrowthCompany_lbl">Entity Emerging Growth Company</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" xlink:title="label: EntityEmergingGrowthCompany to dei_EntityEmergingGrowthCompany_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressAddressLine1" xlink:label="EntityAddressAddressLine1" xlink:title="EntityAddressAddressLine1" />
<link:label xlink:type="resource" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US" id="dei_EntityAddressAddressLine1_lbl">Entity Address, Address Line One</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" xlink:title="label: EntityAddressAddressLine1 to dei_EntityAddressAddressLine1_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressCityOrTown" xlink:label="EntityAddressCityOrTown" xlink:title="EntityAddressCityOrTown" />
<link:label xlink:type="resource" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US" id="dei_EntityAddressCityOrTown_lbl">Entity Address, City or Town</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" xlink:title="label: EntityAddressCityOrTown to dei_EntityAddressCityOrTown_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressStateOrProvince" xlink:label="EntityAddressStateOrProvince" xlink:title="EntityAddressStateOrProvince" />
<link:label xlink:type="resource" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressStateOrProvince_lbl" xml:lang="en-US" id="dei_EntityAddressStateOrProvince_lbl">Entity Address, State or Province</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" xlink:title="label: EntityAddressStateOrProvince to dei_EntityAddressStateOrProvince_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressPostalZipCode" xlink:label="EntityAddressPostalZipCode" xlink:title="EntityAddressPostalZipCode" />
<link:label xlink:type="resource" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US" id="dei_EntityAddressPostalZipCode_lbl">Entity Address, Postal Zip Code</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" xlink:title="label: EntityAddressPostalZipCode to dei_EntityAddressPostalZipCode_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CityAreaCode" xlink:label="CityAreaCode" xlink:title="CityAreaCode" />
<link:label xlink:type="resource" xlink:label="dei_CityAreaCode_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_CityAreaCode_lbl" xml:lang="en-US" id="dei_CityAreaCode_lbl">City Area Code</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CityAreaCode" xlink:to="dei_CityAreaCode_lbl" xlink:title="label: CityAreaCode to dei_CityAreaCode_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_LocalPhoneNumber" xlink:label="LocalPhoneNumber" xlink:title="LocalPhoneNumber" />
<link:label xlink:type="resource" xlink:label="dei_LocalPhoneNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_LocalPhoneNumber_lbl" xml:lang="en-US" id="dei_LocalPhoneNumber_lbl">Local Phone Number</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" xlink:title="label: LocalPhoneNumber to dei_LocalPhoneNumber_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_Security12bTitle" xlink:label="Security12bTitle" xlink:title="Security12bTitle" />
<link:label xlink:type="resource" xlink:label="dei_Security12bTitle_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_Security12bTitle_lbl" xml:lang="en-US" id="dei_Security12bTitle_lbl">Title of 12(b) Security</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Security12bTitle" xlink:to="dei_Security12bTitle_lbl" xlink:title="label: Security12bTitle to dei_Security12bTitle_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_TradingSymbol" xlink:label="TradingSymbol" xlink:title="TradingSymbol" />
<link:label xlink:type="resource" xlink:label="dei_TradingSymbol_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_TradingSymbol_lbl" xml:lang="en-US" id="dei_TradingSymbol_lbl">Trading Symbol</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradingSymbol" xlink:to="dei_TradingSymbol_lbl" xlink:title="label: TradingSymbol to dei_TradingSymbol_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_SecurityExchangeName" xlink:label="SecurityExchangeName" xlink:title="SecurityExchangeName" />
<link:label xlink:type="resource" xlink:label="dei_SecurityExchangeName_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_SecurityExchangeName_lbl" xml:lang="en-US" id="dei_SecurityExchangeName_lbl">Security Exchange Name</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" xlink:title="label: SecurityExchangeName to dei_SecurityExchangeName_lbl" />
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="EntityCommonStockSharesOutstanding" xlink:title="EntityCommonStockSharesOutstanding" />
<link:label xlink:type="resource" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US" id="dei_EntityCommonStockSharesOutstanding_lbl">Entity Common Stock, Shares Outstanding</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl" xlink:title="label: EntityCommonStockSharesOutstanding to dei_EntityCommonStockSharesOutstanding_lbl" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_BrokerDealerNetCapitalRequirementTextBlock" xlink:label="BrokerDealerNetCapitalRequirementTextBlock" xlink:title="BrokerDealerNetCapitalRequirementTextBlock" />
<link:label xlink:type="resource" xlink:label="mghl_BrokerDealerNetCapitalRequirementTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="mghl_BrokerDealerNetCapitalRequirementTextBlock_lbl" xml:lang="en-US" id="mghl_BrokerDealerNetCapitalRequirementTextBlock_lbl">The entire disclosure for net capital requirement for broker-dealer under Securities and Exchange Commission (SEC) regulation.</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BrokerDealerNetCapitalRequirementTextBlock" xlink:to="mghl_BrokerDealerNetCapitalRequirementTextBlock_lbl" xlink:title="label: BrokerDealerNetCapitalRequirementTextBlock to mghl_BrokerDealerNetCapitalRequirementTextBlock_lbl" />
<link:label xlink:type="resource" xlink:label="mghl_BrokerDealerNetCapitalRequirementTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_BrokerDealerNetCapitalRequirementTextBlock_lbl1" xml:lang="en-US" id="mghl_BrokerDealerNetCapitalRequirementTextBlock_lbl1">Broker-Dealer, Net Capital Requirement [Text Block]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BrokerDealerNetCapitalRequirementTextBlock" xlink:to="mghl_BrokerDealerNetCapitalRequirementTextBlock_lbl1" xlink:title="label: BrokerDealerNetCapitalRequirementTextBlock to mghl_BrokerDealerNetCapitalRequirementTextBlock_lbl1" />
<link:label xlink:type="resource" xlink:label="mghl_BrokerDealerNetCapitalRequirementTextBlock_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="mghl_BrokerDealerNetCapitalRequirementTextBlock_lbl2" xml:lang="en-US" id="mghl_BrokerDealerNetCapitalRequirementTextBlock_lbl2">Net Capital Requirements</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BrokerDealerNetCapitalRequirementTextBlock" xlink:to="mghl_BrokerDealerNetCapitalRequirementTextBlock_lbl2" xlink:title="label: BrokerDealerNetCapitalRequirementTextBlock to mghl_BrokerDealerNetCapitalRequirementTextBlock_lbl2" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability" xlink:label="DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability" xlink:title="DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability" />
<link:label xlink:type="resource" xlink:label="mghl_DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="mghl_DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability_lbl" xml:lang="en-US" id="mghl_DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability_lbl">Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset.</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability" xlink:to="mghl_DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability_lbl" xlink:title="label: DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability to mghl_DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability_lbl" />
<link:label xlink:type="resource" xlink:label="mghl_DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability_lbl1" xml:lang="en-US" id="mghl_DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability_lbl1">Deferred Income Tax Assets, Net of Valuation Allowances and Deferred Tax Liability</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability" xlink:to="mghl_DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability_lbl1" xlink:title="label: DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability to mghl_DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability_lbl1" />
<link:label xlink:type="resource" xlink:label="mghl_DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="mghl_DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability_lbl2" xml:lang="en-US" id="mghl_DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability_lbl2">Deferred tax asset</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability" xlink:to="mghl_DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability_lbl2" xlink:title="label: DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability to mghl_DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability_lbl2" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_PrincipalTransactions" xlink:label="PrincipalTransactions" xlink:title="PrincipalTransactions" />
<link:label xlink:type="resource" xlink:label="mghl_PrincipalTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="mghl_PrincipalTransactions_lbl" xml:lang="en-US" id="mghl_PrincipalTransactions_lbl">The amount of principal transactions during the period.</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrincipalTransactions" xlink:to="mghl_PrincipalTransactions_lbl" xlink:title="label: PrincipalTransactions to mghl_PrincipalTransactions_lbl" />
<link:label xlink:type="resource" xlink:label="mghl_PrincipalTransactions_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_PrincipalTransactions_lbl1" xml:lang="en-US" id="mghl_PrincipalTransactions_lbl1">Principal Transactions</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrincipalTransactions" xlink:to="mghl_PrincipalTransactions_lbl1" xlink:title="label: PrincipalTransactions to mghl_PrincipalTransactions_lbl1" />
<link:label xlink:type="resource" xlink:label="mghl_PrincipalTransactions_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="mghl_PrincipalTransactions_lbl2" xml:lang="en-US" id="mghl_PrincipalTransactions_lbl2">Principal transactions</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrincipalTransactions" xlink:to="mghl_PrincipalTransactions_lbl2" xlink:title="label: PrincipalTransactions to mghl_PrincipalTransactions_lbl2" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_GResearchLLCMember" xlink:label="GResearchLLCMember" xlink:title="GResearchLLCMember" />
<link:label xlink:type="resource" xlink:label="mghl_GResearchLLCMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="mghl_GResearchLLCMember_lbl" xml:lang="en-US" id="mghl_GResearchLLCMember_lbl">Acquiree subsidiary entity.</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GResearchLLCMember" xlink:to="mghl_GResearchLLCMember_lbl" xlink:title="label: GResearchLLCMember to mghl_GResearchLLCMember_lbl" />
<link:label xlink:type="resource" xlink:label="mghl_GResearchLLCMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_GResearchLLCMember_lbl1" xml:lang="en-US" id="mghl_GResearchLLCMember_lbl1">G.Research, LLC [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GResearchLLCMember" xlink:to="mghl_GResearchLLCMember_lbl1" xlink:title="label: GResearchLLCMember to mghl_GResearchLLCMember_lbl1" />
<link:label xlink:type="resource" xlink:label="mghl_GResearchLLCMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="mghl_GResearchLLCMember_lbl2" xml:lang="en-US" id="mghl_GResearchLLCMember_lbl2">G.research, LLC [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GResearchLLCMember" xlink:to="mghl_GResearchLLCMember_lbl2" xlink:title="label: GResearchLLCMember to mghl_GResearchLLCMember_lbl2" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_MorganGroupIncMember" xlink:label="MorganGroupIncMember" xlink:title="MorganGroupIncMember" />
<link:label xlink:type="resource" xlink:label="mghl_MorganGroupIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="mghl_MorganGroupIncMember_lbl" xml:lang="en-US" id="mghl_MorganGroupIncMember_lbl">Name of an entity in which the Company serve as a controlling interest.</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MorganGroupIncMember" xlink:to="mghl_MorganGroupIncMember_lbl" xlink:title="label: MorganGroupIncMember to mghl_MorganGroupIncMember_lbl" />
<link:label xlink:type="resource" xlink:label="mghl_MorganGroupIncMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_MorganGroupIncMember_lbl1" xml:lang="en-US" id="mghl_MorganGroupIncMember_lbl1">Morgan Group, Inc. [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MorganGroupIncMember" xlink:to="mghl_MorganGroupIncMember_lbl1" xlink:title="label: MorganGroupIncMember to mghl_MorganGroupIncMember_lbl1" />
<link:label xlink:type="resource" xlink:label="mghl_MorganGroupIncMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="mghl_MorganGroupIncMember_lbl2" xml:lang="en-US" id="mghl_MorganGroupIncMember_lbl2">Morgan Group, Inc. [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MorganGroupIncMember" xlink:to="mghl_MorganGroupIncMember_lbl2" xlink:title="label: MorganGroupIncMember to mghl_MorganGroupIncMember_lbl2" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_OrganizationAndNatureOfBusinessAbstract" xlink:label="OrganizationAndNatureOfBusinessAbstract" xlink:title="OrganizationAndNatureOfBusinessAbstract" />
<link:label xlink:type="resource" xlink:label="mghl_OrganizationAndNatureOfBusinessAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_OrganizationAndNatureOfBusinessAbstract_lbl1" xml:lang="en-US" id="mghl_OrganizationAndNatureOfBusinessAbstract_lbl1">Organization and Nature of Business [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrganizationAndNatureOfBusinessAbstract" xlink:to="mghl_OrganizationAndNatureOfBusinessAbstract_lbl1" xlink:title="label: OrganizationAndNatureOfBusinessAbstract to mghl_OrganizationAndNatureOfBusinessAbstract_lbl1" />
<link:label xlink:type="resource" xlink:label="mghl_OrganizationAndNatureOfBusinessAbstract_lbl2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="mghl_OrganizationAndNatureOfBusinessAbstract_lbl2" xml:lang="en-US" id="mghl_OrganizationAndNatureOfBusinessAbstract_lbl2">Organization and Business Description [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrganizationAndNatureOfBusinessAbstract" xlink:to="mghl_OrganizationAndNatureOfBusinessAbstract_lbl2" xlink:title="label: OrganizationAndNatureOfBusinessAbstract to mghl_OrganizationAndNatureOfBusinessAbstract_lbl2" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_StockIssuedDuringPeriodSharesSpinOff" xlink:label="StockIssuedDuringPeriodSharesSpinOff" xlink:title="StockIssuedDuringPeriodSharesSpinOff" />
<link:label xlink:type="resource" xlink:label="mghl_StockIssuedDuringPeriodSharesSpinOff_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="mghl_StockIssuedDuringPeriodSharesSpinOff_lbl" xml:lang="en-US" id="mghl_StockIssuedDuringPeriodSharesSpinOff_lbl">Number of shares issued during the period as a result of a spin-off.</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodSharesSpinOff" xlink:to="mghl_StockIssuedDuringPeriodSharesSpinOff_lbl" xlink:title="label: StockIssuedDuringPeriodSharesSpinOff to mghl_StockIssuedDuringPeriodSharesSpinOff_lbl" />
<link:label xlink:type="resource" xlink:label="mghl_StockIssuedDuringPeriodSharesSpinOff_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_StockIssuedDuringPeriodSharesSpinOff_lbl1" xml:lang="en-US" id="mghl_StockIssuedDuringPeriodSharesSpinOff_lbl1">Stock Issued During Period, Shares, Spin-off</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodSharesSpinOff" xlink:to="mghl_StockIssuedDuringPeriodSharesSpinOff_lbl1" xlink:title="label: StockIssuedDuringPeriodSharesSpinOff to mghl_StockIssuedDuringPeriodSharesSpinOff_lbl1" />
<link:label xlink:type="resource" xlink:label="mghl_StockIssuedDuringPeriodSharesSpinOff_lbl2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="mghl_StockIssuedDuringPeriodSharesSpinOff_lbl2" xml:lang="en-US" id="mghl_StockIssuedDuringPeriodSharesSpinOff_lbl2">Shares distributed to shareholders in spin-off (in shares)</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodSharesSpinOff" xlink:to="mghl_StockIssuedDuringPeriodSharesSpinOff_lbl2" xlink:title="label: StockIssuedDuringPeriodSharesSpinOff to mghl_StockIssuedDuringPeriodSharesSpinOff_lbl2" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared" xlink:label="NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared" xlink:title="NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared" />
<link:label xlink:type="resource" xlink:label="mghl_NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="mghl_NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared_lbl" xml:lang="en-US" id="mghl_NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared_lbl">Refers to the number of New York Stock Exchange ("NYSE") member firms through which all securities transactions for the Company and its customers are cleared.</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared" xlink:to="mghl_NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared_lbl" xlink:title="label: NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared to mghl_NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared_lbl" />
<link:label xlink:type="resource" xlink:label="mghl_NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared_lbl1" xml:lang="en-US" id="mghl_NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared_lbl1">Number Of NYSE Member Firms Through Which All Securities Transactions Are Cleared</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared" xlink:to="mghl_NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared_lbl1" xlink:title="label: NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared to mghl_NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared_lbl1" />
<link:label xlink:type="resource" xlink:label="mghl_NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="mghl_NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared_lbl2" xml:lang="en-US" id="mghl_NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared_lbl2">Number of NYSE member firms through which all securities transactions are cleared</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared" xlink:to="mghl_NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared_lbl2" xlink:title="label: NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared to mghl_NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared_lbl2" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_AssociatedCapitalGroupMember" xlink:label="AssociatedCapitalGroupMember" xlink:title="AssociatedCapitalGroupMember" />
<link:label xlink:type="resource" xlink:label="mghl_AssociatedCapitalGroupMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="mghl_AssociatedCapitalGroupMember_lbl" xml:lang="en-US" id="mghl_AssociatedCapitalGroupMember_lbl">Name of the entity with whom acquisition agreement has been announced.</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssociatedCapitalGroupMember" xlink:to="mghl_AssociatedCapitalGroupMember_lbl" xlink:title="label: AssociatedCapitalGroupMember to mghl_AssociatedCapitalGroupMember_lbl" />
<link:label xlink:type="resource" xlink:label="mghl_AssociatedCapitalGroupMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_AssociatedCapitalGroupMember_lbl1" xml:lang="en-US" id="mghl_AssociatedCapitalGroupMember_lbl1">Associated Capital Group [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssociatedCapitalGroupMember" xlink:to="mghl_AssociatedCapitalGroupMember_lbl1" xlink:title="label: AssociatedCapitalGroupMember to mghl_AssociatedCapitalGroupMember_lbl1" />
<link:label xlink:type="resource" xlink:label="mghl_AssociatedCapitalGroupMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="mghl_AssociatedCapitalGroupMember_lbl2" xml:lang="en-US" id="mghl_AssociatedCapitalGroupMember_lbl2">Associated Capital Group [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssociatedCapitalGroupMember" xlink:to="mghl_AssociatedCapitalGroupMember_lbl2" xlink:title="label: AssociatedCapitalGroupMember to mghl_AssociatedCapitalGroupMember_lbl2" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_UnderwriterPaymentReceivingMaximumPeriod" xlink:label="UnderwriterPaymentReceivingMaximumPeriod" xlink:title="UnderwriterPaymentReceivingMaximumPeriod" />
<link:label xlink:type="resource" xlink:label="mghl_UnderwriterPaymentReceivingMaximumPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="mghl_UnderwriterPaymentReceivingMaximumPeriod_lbl" xml:lang="en-US" id="mghl_UnderwriterPaymentReceivingMaximumPeriod_lbl">The maximum period within which the payment received from the underwriter after settlement date in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnderwriterPaymentReceivingMaximumPeriod" xlink:to="mghl_UnderwriterPaymentReceivingMaximumPeriod_lbl" xlink:title="label: UnderwriterPaymentReceivingMaximumPeriod to mghl_UnderwriterPaymentReceivingMaximumPeriod_lbl" />
<link:label xlink:type="resource" xlink:label="mghl_UnderwriterPaymentReceivingMaximumPeriod_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_UnderwriterPaymentReceivingMaximumPeriod_lbl1" xml:lang="en-US" id="mghl_UnderwriterPaymentReceivingMaximumPeriod_lbl1">Underwriter Payment Receiving Maximum Period</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnderwriterPaymentReceivingMaximumPeriod" xlink:to="mghl_UnderwriterPaymentReceivingMaximumPeriod_lbl1" xlink:title="label: UnderwriterPaymentReceivingMaximumPeriod to mghl_UnderwriterPaymentReceivingMaximumPeriod_lbl1" />
<link:label xlink:type="resource" xlink:label="mghl_UnderwriterPaymentReceivingMaximumPeriod_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="mghl_UnderwriterPaymentReceivingMaximumPeriod_lbl2" xml:lang="en-US" id="mghl_UnderwriterPaymentReceivingMaximumPeriod_lbl2">Underwriter payment receiving period</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnderwriterPaymentReceivingMaximumPeriod" xlink:to="mghl_UnderwriterPaymentReceivingMaximumPeriod_lbl2" xlink:title="label: UnderwriterPaymentReceivingMaximumPeriod to mghl_UnderwriterPaymentReceivingMaximumPeriod_lbl2" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_BrokerageCommissionsMember" xlink:label="BrokerageCommissionsMember" xlink:title="BrokerageCommissionsMember" />
<link:label xlink:type="resource" xlink:label="mghl_BrokerageCommissionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="mghl_BrokerageCommissionsMember_lbl" xml:lang="en-US" id="mghl_BrokerageCommissionsMember_lbl">Charges on the execution of securities transactions made on behalf of client accounts on an agency basis and are based on a rate schedule. Entity recognizes brokerage commission revenue in the period when the securities transactions are executed.</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BrokerageCommissionsMember" xlink:to="mghl_BrokerageCommissionsMember_lbl" xlink:title="label: BrokerageCommissionsMember to mghl_BrokerageCommissionsMember_lbl" />
<link:label xlink:type="resource" xlink:label="mghl_BrokerageCommissionsMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_BrokerageCommissionsMember_lbl1" xml:lang="en-US" id="mghl_BrokerageCommissionsMember_lbl1">Brokerage Commissions [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BrokerageCommissionsMember" xlink:to="mghl_BrokerageCommissionsMember_lbl1" xlink:title="label: BrokerageCommissionsMember to mghl_BrokerageCommissionsMember_lbl1" />
<link:label xlink:type="resource" xlink:label="mghl_BrokerageCommissionsMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="mghl_BrokerageCommissionsMember_lbl2" xml:lang="en-US" id="mghl_BrokerageCommissionsMember_lbl2">Brokerage Commissions [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BrokerageCommissionsMember" xlink:to="mghl_BrokerageCommissionsMember_lbl2" xlink:title="label: BrokerageCommissionsMember to mghl_BrokerageCommissionsMember_lbl2" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_HardDollarPaymentsMember" xlink:label="HardDollarPaymentsMember" xlink:title="HardDollarPaymentsMember" />
<link:label xlink:type="resource" xlink:label="mghl_HardDollarPaymentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="mghl_HardDollarPaymentsMember_lbl" xml:lang="en-US" id="mghl_HardDollarPaymentsMember_lbl">Revenue generated from hard dollar payments.</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HardDollarPaymentsMember" xlink:to="mghl_HardDollarPaymentsMember_lbl" xlink:title="label: HardDollarPaymentsMember to mghl_HardDollarPaymentsMember_lbl" />
<link:label xlink:type="resource" xlink:label="mghl_HardDollarPaymentsMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_HardDollarPaymentsMember_lbl1" xml:lang="en-US" id="mghl_HardDollarPaymentsMember_lbl1">Hard Dollar Payments [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HardDollarPaymentsMember" xlink:to="mghl_HardDollarPaymentsMember_lbl1" xlink:title="label: HardDollarPaymentsMember to mghl_HardDollarPaymentsMember_lbl1" />
<link:label xlink:type="resource" xlink:label="mghl_HardDollarPaymentsMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="mghl_HardDollarPaymentsMember_lbl2" xml:lang="en-US" id="mghl_HardDollarPaymentsMember_lbl2">Hard Dollar Payments [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HardDollarPaymentsMember" xlink:to="mghl_HardDollarPaymentsMember_lbl2" xlink:title="label: HardDollarPaymentsMember to mghl_HardDollarPaymentsMember_lbl2" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_CommissionsMember" xlink:label="CommissionsMember" xlink:title="CommissionsMember" />
<link:label xlink:type="resource" xlink:label="mghl_CommissionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="mghl_CommissionsMember_lbl" xml:lang="en-US" id="mghl_CommissionsMember_lbl">Charges on the execution of securities transactions made on behalf of client accounts on an agency basis and are based on a rate schedule. Entity recognizes commission revenue in the period when the securities transactions are executed.</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommissionsMember" xlink:to="mghl_CommissionsMember_lbl" xlink:title="label: CommissionsMember to mghl_CommissionsMember_lbl" />
<link:label xlink:type="resource" xlink:label="mghl_CommissionsMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_CommissionsMember_lbl1" xml:lang="en-US" id="mghl_CommissionsMember_lbl1">Commissions [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommissionsMember" xlink:to="mghl_CommissionsMember_lbl1" xlink:title="label: CommissionsMember to mghl_CommissionsMember_lbl1" />
<link:label xlink:type="resource" xlink:label="mghl_CommissionsMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="mghl_CommissionsMember_lbl2" xml:lang="en-US" id="mghl_CommissionsMember_lbl2">Commissions [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommissionsMember" xlink:to="mghl_CommissionsMember_lbl2" xlink:title="label: CommissionsMember to mghl_CommissionsMember_lbl2" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_UnderwritingFeesMember" xlink:label="UnderwritingFeesMember" xlink:title="UnderwritingFeesMember" />
<link:label xlink:type="resource" xlink:label="mghl_UnderwritingFeesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="mghl_UnderwritingFeesMember_lbl" xml:lang="en-US" id="mghl_UnderwritingFeesMember_lbl">Underwriting fees include gains, losses, and fees, net of syndicate expenses, arising from public equity and debt offerings.</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnderwritingFeesMember" xlink:to="mghl_UnderwritingFeesMember_lbl" xlink:title="label: UnderwritingFeesMember to mghl_UnderwritingFeesMember_lbl" />
<link:label xlink:type="resource" xlink:label="mghl_UnderwritingFeesMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_UnderwritingFeesMember_lbl1" xml:lang="en-US" id="mghl_UnderwritingFeesMember_lbl1">Underwriting Fees [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnderwritingFeesMember" xlink:to="mghl_UnderwritingFeesMember_lbl1" xlink:title="label: UnderwritingFeesMember to mghl_UnderwritingFeesMember_lbl1" />
<link:label xlink:type="resource" xlink:label="mghl_UnderwritingFeesMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="mghl_UnderwritingFeesMember_lbl2" xml:lang="en-US" id="mghl_UnderwritingFeesMember_lbl2">Underwriting Fees [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnderwritingFeesMember" xlink:to="mghl_UnderwritingFeesMember_lbl2" xlink:title="label: UnderwritingFeesMember to mghl_UnderwritingFeesMember_lbl2" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_PaymentMadeUnderSubleaseAgreement" xlink:label="PaymentMadeUnderSubleaseAgreement" xlink:title="PaymentMadeUnderSubleaseAgreement" />
<link:label xlink:type="resource" xlink:label="mghl_PaymentMadeUnderSubleaseAgreement_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="mghl_PaymentMadeUnderSubleaseAgreement_lbl" xml:lang="en-US" id="mghl_PaymentMadeUnderSubleaseAgreement_lbl">The amount paid by the organization under sublease agreement.</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentMadeUnderSubleaseAgreement" xlink:to="mghl_PaymentMadeUnderSubleaseAgreement_lbl" xlink:title="label: PaymentMadeUnderSubleaseAgreement to mghl_PaymentMadeUnderSubleaseAgreement_lbl" />
<link:label xlink:type="resource" xlink:label="mghl_PaymentMadeUnderSubleaseAgreement_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_PaymentMadeUnderSubleaseAgreement_lbl1" xml:lang="en-US" id="mghl_PaymentMadeUnderSubleaseAgreement_lbl1">Payment Made Under Sublease Agreement</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentMadeUnderSubleaseAgreement" xlink:to="mghl_PaymentMadeUnderSubleaseAgreement_lbl1" xlink:title="label: PaymentMadeUnderSubleaseAgreement to mghl_PaymentMadeUnderSubleaseAgreement_lbl1" />
<link:label xlink:type="resource" xlink:label="mghl_PaymentMadeUnderSubleaseAgreement_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="mghl_PaymentMadeUnderSubleaseAgreement_lbl2" xml:lang="en-US" id="mghl_PaymentMadeUnderSubleaseAgreement_lbl2">Payment made under sublease agreement</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentMadeUnderSubleaseAgreement" xlink:to="mghl_PaymentMadeUnderSubleaseAgreement_lbl2" xlink:title="label: PaymentMadeUnderSubleaseAgreement to mghl_PaymentMadeUnderSubleaseAgreement_lbl2" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_USTreasuryMoneyMarketFundMember" xlink:label="USTreasuryMoneyMarketFundMember" xlink:title="USTreasuryMoneyMarketFundMember" />
<link:label xlink:type="resource" xlink:label="mghl_USTreasuryMoneyMarketFundMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="mghl_USTreasuryMoneyMarketFundMember_lbl" xml:lang="en-US" id="mghl_USTreasuryMoneyMarketFundMember_lbl">A United States Treasury money mutual fund is a mutual fund that pools money from investors to purchase low-risk government securities with a short-term, maturity.</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USTreasuryMoneyMarketFundMember" xlink:to="mghl_USTreasuryMoneyMarketFundMember_lbl" xlink:title="label: USTreasuryMoneyMarketFundMember to mghl_USTreasuryMoneyMarketFundMember_lbl" />
<link:label xlink:type="resource" xlink:label="mghl_USTreasuryMoneyMarketFundMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_USTreasuryMoneyMarketFundMember_lbl1" xml:lang="en-US" id="mghl_USTreasuryMoneyMarketFundMember_lbl1">U.S. Treasury Money Market Fund [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USTreasuryMoneyMarketFundMember" xlink:to="mghl_USTreasuryMoneyMarketFundMember_lbl1" xlink:title="label: USTreasuryMoneyMarketFundMember to mghl_USTreasuryMoneyMarketFundMember_lbl1" />
<link:label xlink:type="resource" xlink:label="mghl_USTreasuryMoneyMarketFundMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="mghl_USTreasuryMoneyMarketFundMember_lbl2" xml:lang="en-US" id="mghl_USTreasuryMoneyMarketFundMember_lbl2">Gabelli U.S. Treasury Money Market Fund [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USTreasuryMoneyMarketFundMember" xlink:to="mghl_USTreasuryMoneyMarketFundMember_lbl2" xlink:title="label: USTreasuryMoneyMarketFundMember to mghl_USTreasuryMoneyMarketFundMember_lbl2" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_RevenueFromRelatedPartyPercentage" xlink:label="RevenueFromRelatedPartyPercentage" xlink:title="RevenueFromRelatedPartyPercentage" />
<link:label xlink:type="resource" xlink:label="mghl_RevenueFromRelatedPartyPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="mghl_RevenueFromRelatedPartyPercentage_lbl" xml:lang="en-US" id="mghl_RevenueFromRelatedPartyPercentage_lbl">Percentage of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromRelatedPartyPercentage" xlink:to="mghl_RevenueFromRelatedPartyPercentage_lbl" xlink:title="label: RevenueFromRelatedPartyPercentage to mghl_RevenueFromRelatedPartyPercentage_lbl" />
<link:label xlink:type="resource" xlink:label="mghl_RevenueFromRelatedPartyPercentage_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_RevenueFromRelatedPartyPercentage_lbl1" xml:lang="en-US" id="mghl_RevenueFromRelatedPartyPercentage_lbl1">Revenue from Related Party, Percentage</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromRelatedPartyPercentage" xlink:to="mghl_RevenueFromRelatedPartyPercentage_lbl1" xlink:title="label: RevenueFromRelatedPartyPercentage to mghl_RevenueFromRelatedPartyPercentage_lbl1" />
<link:label xlink:type="resource" xlink:label="mghl_RevenueFromRelatedPartyPercentage_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="mghl_RevenueFromRelatedPartyPercentage_lbl2" xml:lang="en-US" id="mghl_RevenueFromRelatedPartyPercentage_lbl2">Revenue percentage</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromRelatedPartyPercentage" xlink:to="mghl_RevenueFromRelatedPartyPercentage_lbl2" xlink:title="label: RevenueFromRelatedPartyPercentage to mghl_RevenueFromRelatedPartyPercentage_lbl2" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_GabelliFundsLLCMember" xlink:label="GabelliFundsLLCMember" xlink:title="GabelliFundsLLCMember" />
<link:label xlink:type="resource" xlink:label="mghl_GabelliFundsLLCMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="mghl_GabelliFundsLLCMember_lbl" xml:lang="en-US" id="mghl_GabelliFundsLLCMember_lbl">An affiliate is a party that, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with the entity.</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GabelliFundsLLCMember" xlink:to="mghl_GabelliFundsLLCMember_lbl" xlink:title="label: GabelliFundsLLCMember to mghl_GabelliFundsLLCMember_lbl" />
<link:label xlink:type="resource" xlink:label="mghl_GabelliFundsLLCMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_GabelliFundsLLCMember_lbl1" xml:lang="en-US" id="mghl_GabelliFundsLLCMember_lbl1">Gabelli Funds, LLC [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GabelliFundsLLCMember" xlink:to="mghl_GabelliFundsLLCMember_lbl1" xlink:title="label: GabelliFundsLLCMember to mghl_GabelliFundsLLCMember_lbl1" />
<link:label xlink:type="resource" xlink:label="mghl_GabelliFundsLLCMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="mghl_GabelliFundsLLCMember_lbl2" xml:lang="en-US" id="mghl_GabelliFundsLLCMember_lbl2">Gabelli Funds, LLC [Member]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GabelliFundsLLCMember" xlink:to="mghl_GabelliFundsLLCMember_lbl2" xlink:title="label: GabelliFundsLLCMember to mghl_GabelliFundsLLCMember_lbl2" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAbstract" xlink:label="AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAbstract" xlink:title="AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAbstract" />
<link:label xlink:type="resource" xlink:label="mghl_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAbstract_lbl1" xml:lang="en-US" id="mghl_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAbstract_lbl1">Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAbstract" xlink:to="mghl_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAbstract_lbl1" xlink:title="label: AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAbstract to mghl_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAbstract_lbl1" />
<link:loc xlink:type="locator" xlink:href="mghl-20220630.xsd#mghl_OrganizationAndBusinessDescriptionPolicyTextBlock" xlink:label="OrganizationAndBusinessDescriptionPolicyTextBlock" xlink:title="OrganizationAndBusinessDescriptionPolicyTextBlock" />
<link:label xlink:type="resource" xlink:label="mghl_OrganizationAndBusinessDescriptionPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="mghl_OrganizationAndBusinessDescriptionPolicyTextBlock_lbl" xml:lang="en-US" id="mghl_OrganizationAndBusinessDescriptionPolicyTextBlock_lbl">Disclosure of accounting policy for organization and business of the Company.</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrganizationAndBusinessDescriptionPolicyTextBlock" xlink:to="mghl_OrganizationAndBusinessDescriptionPolicyTextBlock_lbl" xlink:title="label: OrganizationAndBusinessDescriptionPolicyTextBlock to mghl_OrganizationAndBusinessDescriptionPolicyTextBlock_lbl" />
<link:label xlink:type="resource" xlink:label="mghl_OrganizationAndBusinessDescriptionPolicyTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="mghl_OrganizationAndBusinessDescriptionPolicyTextBlock_lbl1" xml:lang="en-US" id="mghl_OrganizationAndBusinessDescriptionPolicyTextBlock_lbl1">Organization and Business Description [Policy Text Block]</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrganizationAndBusinessDescriptionPolicyTextBlock" xlink:to="mghl_OrganizationAndBusinessDescriptionPolicyTextBlock_lbl1" xlink:title="label: OrganizationAndBusinessDescriptionPolicyTextBlock to mghl_OrganizationAndBusinessDescriptionPolicyTextBlock_lbl1" />
<link:label xlink:type="resource" xlink:label="mghl_OrganizationAndBusinessDescriptionPolicyTextBlock_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="mghl_OrganizationAndBusinessDescriptionPolicyTextBlock_lbl2" xml:lang="en-US" id="mghl_OrganizationAndBusinessDescriptionPolicyTextBlock_lbl2">Organization and Business Description</link:label>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrganizationAndBusinessDescriptionPolicyTextBlock" xlink:to="mghl_OrganizationAndBusinessDescriptionPolicyTextBlock_lbl2" xlink:title="label: OrganizationAndBusinessDescriptionPolicyTextBlock to mghl_OrganizationAndBusinessDescriptionPolicyTextBlock_lbl2" />
</link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>10
<FILENAME>mghl-20220630_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!--Generated by Broadridge PROfile 22.7.2.5062 Broadridge-->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance">
<link:roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" />
<link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" />
<link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" />
<link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" />
<link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" />
<link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" />
<link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" />
<link:roleRef roleURI="http://morgangroupholdingco.com/role/NetCapitalRequirementsDetails" xlink:type="simple" xlink:href="mghl-20220630.xsd#NetCapitalRequirementsDetails" />
<link:roleRef roleURI="http://morgangroupholdingco.com/role/EquityDetails" xlink:type="simple" xlink:href="mghl-20220630.xsd#EquityDetails" />
<link:roleRef roleURI="http://morgangroupholdingco.com/role/EarningsPerShareDetails" xlink:type="simple" xlink:href="mghl-20220630.xsd#EarningsPerShareDetails" />
<link:roleRef roleURI="http://morgangroupholdingco.com/role/IncomeTaxesDetails" xlink:type="simple" xlink:href="mghl-20220630.xsd#IncomeTaxesDetails" />
<link:roleRef roleURI="http://morgangroupholdingco.com/role/RetirementPlanDetails" xlink:type="simple" xlink:href="mghl-20220630.xsd#RetirementPlanDetails" />
<link:roleRef roleURI="http://morgangroupholdingco.com/role/FairValueDetails" xlink:type="simple" xlink:href="mghl-20220630.xsd#FairValueDetails" />
<link:roleRef roleURI="http://morgangroupholdingco.com/role/RelatedPartyTransactionsTransactionsWithAssociatedCapitalGroupDetails" xlink:type="simple" xlink:href="mghl-20220630.xsd#RelatedPartyTransactionsTransactionsWithAssociatedCapitalGroupDetails" />
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989092147072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document and Entity Information - shares<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Jul. 31, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">10-Q<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentQuarterlyReport', window );">Document Quarterly Report</a></td>
<td class="text">true<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Jun. 30, 2022<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2022<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">Q2<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentTransitionReport', window );">Document Transition Report</a></td>
<td class="text">false<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">333-73996<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">Morgan Group Holding Co<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001162283<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">DE<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">13-4196940<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">401 Theodore Fremd Avenue<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Rye<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">NY<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">10580<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">914<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">921-5216<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Stock, par value $0.01 per share<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">MGHL<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NONE<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInteractiveDataCurrent', window );">Entity Interactive Data Current</a></td>
<td class="text">Yes<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Non-accelerated Filer<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntitySmallBusiness', window );">Entity Small Business</a></td>
<td class="text">true<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityShellCompany', window );">Entity Shell Company</a></td>
<td class="text">false<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">600,090<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fiscal period values are FY, Q1, Q2, and Q3. 1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fiscalPeriodItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentQuarterlyReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as an quarterly report.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-Q<br> -Number 240<br> -Section 308<br> -Subsection a<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentQuarterlyReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentTransitionReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as a transition report.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Forms 10-K, 10-Q, 20-F<br> -Number 240<br> -Section 13<br> -Subsection a-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentTransitionReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityInteractiveDataCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-T<br> -Number 232<br> -Section 405<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityInteractiveDataCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityShellCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityShellCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntitySmallBusiness">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicates that the company is a Smaller Reporting Company (SRC).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntitySmallBusiness</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989097607760">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)<br></strong></div></th>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>ASSETS</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 2,500,347<span></span>
</td>
<td class="nump">$ 2,888,897<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations', window );">Receivables from brokers and clearing organizations</a></td>
<td class="nump">199,173<span></span>
</td>
<td class="nump">95,746<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DueFromRelatedParties', window );">Receivables from affiliates</a></td>
<td class="nump">4,655<span></span>
</td>
<td class="nump">11,715<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities', window );">Deposits with clearing organizations</a></td>
<td class="nump">350,000<span></span>
</td>
<td class="nump">350,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxReceivable', window );">Income taxes receivable (including deferred tax asset of $0 and $0, respectively)</a></td>
<td class="nump">279,485<span></span>
</td>
<td class="nump">275,285<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Fixed assets, net of accumulated depreciation of $57,640 and $52,169 respectively</a></td>
<td class="nump">17,232<span></span>
</td>
<td class="nump">22,703<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherAssets', window );">Other assets</a></td>
<td class="nump">178,048<span></span>
</td>
<td class="nump">679,524<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">3,528,940<span></span>
</td>
<td class="nump">4,323,870<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquityAbstract', window );"><strong>LIABILITIES AND EQUITY</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent', window );">Compensation payable</a></td>
<td class="nump">207,186<span></span>
</td>
<td class="nump">474,717<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrentAndNoncurrent', window );">Payable to affiliates</a></td>
<td class="nump">161<span></span>
</td>
<td class="nump">46<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccruedIncomeTaxes', window );">Income tax payable</a></td>
<td class="nump">46,849<span></span>
</td>
<td class="nump">48,350<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent', window );">Accrued expenses and other liabilities</a></td>
<td class="nump">936,944<span></span>
</td>
<td class="nump">764,512<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
<td class="nump">1,191,140<span></span>
</td>
<td class="nump">1,287,625<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">Commitments and contingencies (Note J)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Equity</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock, $0.01 par value; 10,000,000 and 100,000,000 shares authorized, respectively, and 600,090 and 600,090 issued and outstanding, respectively</a></td>
<td class="nump">6,001<span></span>
</td>
<td class="nump">6,001<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapital', window );">Additional paid-in capital</a></td>
<td class="nump">53,886,180<span></span>
</td>
<td class="nump">53,886,180<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Accumulated deficit</a></td>
<td class="num">(51,554,381)<span></span>
</td>
<td class="num">(50,855,936)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total equity</a></td>
<td class="nump">2,337,800<span></span>
</td>
<td class="nump">3,036,245<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total liabilities and equity</a></td>
<td class="nump">$ 3,528,940<span></span>
</td>
<td class="nump">$ 4,323,870<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedIncomeTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all domestic and foreign income tax obligations due. This amount is the total of current and noncurrent accrued income taxes.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15)(1))<br> -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(24))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(20))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(15)(a))<br> -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedIncomeTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.15(5))<br> -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.15(a))<br> -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedLiabilitiesCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of excess of issue price over par or stated value of stock and from other transaction involving stock or stockholder. Includes, but is not limited to, additional paid-in capital (APIC) for common and preferred stock.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 852<br> -SubTopic 10<br> -Section 55<br> -Paragraph 10<br> -URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(1))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(11))<br> -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 852<br> -SubTopic 10<br> -Section 55<br> -Paragraph 10<br> -URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(iii)(A))<br> -URI 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http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571<br><br>Reference 24: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (c)<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3044-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124098289&loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingencies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a),19)<br> -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.17)<br> -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingencies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 852<br> -SubTopic 10<br> -Section 55<br> -Paragraph 10<br> -URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate carrying value as of the balance sheet date of the liabilities for all deferred compensation arrangements. Represents currently earned compensation under compensation arrangements that is not actually paid until a later date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of securities on deposit with clearing organizations and other entities which provide services necessary to operations of the Company. This item would include, for instance, securities advanced as refundable collateral for securities borrowed.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(17))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, amounts due from related parties including affiliates, employees, joint ventures, officers and stockholders, immediate families thereof, and pension funds.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(k)(1))<br> -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(iv))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(5))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(5))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.10(3))<br> -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3)(a)(2))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(iii)(C))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(iv))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(iii)(B))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756<br><br>Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.3)<br> -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of obligations due all related parties.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(k)(1))<br> -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(iii)(C))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(5))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.17)<br> -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(iv))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(iii)(B))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(5))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(iv))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756<br><br>Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.15(3),(4))<br> -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of income taxes previously overpaid to tax authorities (such as U.S. Federal, state and local tax authorities) representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes. Also called income tax refund receivable.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3)(a)(4))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(10))<br> -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19-26)<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 852<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124433192&loc=SL2890621-112765<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (d)<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599<br><br>Reference 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Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(iv))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (bb)<br> -URI https://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(iii)(B))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(iv))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI https://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(5))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(iii)(A))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(i))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(i))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756<br><br>Reference 18: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690<br><br>Reference 19: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(iii)(A))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756<br><br>Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(ii))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 852<br> -SubTopic 10<br> -Section 55<br> -Paragraph 10<br> -URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(23))<br> -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(25))<br> -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(32))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquityAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(10))<br> -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(10))<br> -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(17))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI https://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8))<br> -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 360<br> -Section 50<br> -Paragraph 1<br> -URI https://asc.fasb.org/extlink&oid=124429447&loc=SL124453093-239630<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 852<br> -SubTopic 10<br> -Section 55<br> -Paragraph 10<br> -URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount receivable from broker-dealers and clearing organizations, including, but not limited to, securities failed-to-deliver, certain deposits for securities borrowed, open transactions, good faith and margin deposits, commissions and floor brokerage receivables.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 940<br> -SubTopic 20<br> -Section 45<br> -Paragraph 3<br> -URI https://asc.fasb.org/extlink&oid=35710130&loc=d3e41645-110958<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(3))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 852<br> -SubTopic 10<br> -Section 55<br> -Paragraph 10<br> -URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(23)(a)(4))<br> -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 40<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (h)(2)<br> -URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 40<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (g)(2)(i)<br> -URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 852<br> -SubTopic 10<br> -Section 55<br> -Paragraph 10<br> -URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 4.E)<br> -URI https://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(31))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612<br><br>Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989092112928">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($)<br></strong></div></th>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>ASSETS</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mghl_DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability', window );">Deferred tax asset</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Fixed assets, accumulated depreciation</a></td>
<td class="nump">$ 57,640<span></span>
</td>
<td class="nump">$ 52,169<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Equity</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value (in dollars per share)</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, shares authorized (in shares)</a></td>
<td class="nump">10,000,000<span></span>
</td>
<td class="nump">100,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock, shares issued (in shares)</a></td>
<td class="nump">600,090<span></span>
</td>
<td class="nump">600,090<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, shares outstanding (in shares)</a></td>
<td class="nump">600,090<span></span>
</td>
<td class="nump">600,090<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mghl_DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mghl_DeferredIncomeTaxAssetsNetOfValuationAllowancesAndDeferredTaxLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mghl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI https://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(14))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21463-112644<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989091996800">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Jun. 30, 2021</div></th>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Jun. 30, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BrokerageCommissionsRevenue', window );">Commissions</a></td>
<td class="nump">$ 449,664<span></span>
</td>
<td class="nump">$ 566,436<span></span>
</td>
<td class="nump">$ 953,403<span></span>
</td>
<td class="nump">$ 1,222,044<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mghl_PrincipalTransactions', window );">Principal transactions</a></td>
<td class="nump">7,416<span></span>
</td>
<td class="num">(1,899)<span></span>
</td>
<td class="nump">7,370<span></span>
</td>
<td class="num">(5,155)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestAndDividendIncomeOperating', window );">Dividends and interest</a></td>
<td class="nump">9,274<span></span>
</td>
<td class="nump">3,377<span></span>
</td>
<td class="nump">14,213<span></span>
</td>
<td class="nump">12,363<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_UnderwritingIncomeLoss', window );">Underwriting fees</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">6,311<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenueNotFromContractWithCustomerOther', window );">Other revenues</a></td>
<td class="nump">8,889<span></span>
</td>
<td class="nump">16,551<span></span>
</td>
<td class="nump">9,041<span></span>
</td>
<td class="nump">27,004<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total revenues</a></td>
<td class="nump">475,243<span></span>
</td>
<td class="nump">584,465<span></span>
</td>
<td class="nump">984,027<span></span>
</td>
<td class="nump">1,262,567<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>Expenses</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LaborAndRelatedExpense', window );">Compensation and related costs</a></td>
<td class="nump">292,592<span></span>
</td>
<td class="nump">626,559<span></span>
</td>
<td class="nump">620,585<span></span>
</td>
<td class="nump">1,314,714<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ClearanceFees', window );">Clearing charges</a></td>
<td class="nump">228,361<span></span>
</td>
<td class="nump">164,479<span></span>
</td>
<td class="nump">458,010<span></span>
</td>
<td class="nump">349,505<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and administrative</a></td>
<td class="nump">237,390<span></span>
</td>
<td class="nump">429,663<span></span>
</td>
<td class="nump">462,397<span></span>
</td>
<td class="nump">718,415<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OccupancyNet', window );">Occupancy and equipment</a></td>
<td class="nump">68,232<span></span>
</td>
<td class="nump">84,659<span></span>
</td>
<td class="nump">141,480<span></span>
</td>
<td class="nump">163,223<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total expenses</a></td>
<td class="nump">826,575<span></span>
</td>
<td class="nump">1,305,360<span></span>
</td>
<td class="nump">1,682,472<span></span>
</td>
<td class="nump">2,545,857<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest', window );">Loss before income tax benefit</a></td>
<td class="num">(351,332)<span></span>
</td>
<td class="num">(720,895)<span></span>
</td>
<td class="num">(698,445)<span></span>
</td>
<td class="num">(1,283,290)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax benefit</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="num">$ (351,332)<span></span>
</td>
<td class="num">$ (720,895)<span></span>
</td>
<td class="num">$ (698,445)<span></span>
</td>
<td class="num">$ (1,283,290)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Net loss per share</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic (in dollars per share)</a></td>
<td class="num">$ (0.59)<span></span>
</td>
<td class="num">$ (1.20)<span></span>
</td>
<td class="num">$ (1.16)<span></span>
</td>
<td class="num">$ (2.14)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted (in dollars per share)</a></td>
<td class="num">$ (0.59)<span></span>
</td>
<td class="num">$ (1.20)<span></span>
</td>
<td class="num">$ (1.16)<span></span>
</td>
<td class="num">$ (2.14)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract', window );"><strong>Weighted average shares outstanding:</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Basic (in shares)</a></td>
<td class="nump">600,090<span></span>
</td>
<td class="nump">600,090<span></span>
</td>
<td class="nump">600,090<span></span>
</td>
<td class="nump">600,090<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Diluted (in shares)</a></td>
<td class="nump">600,090<span></span>
</td>
<td class="nump">600,090<span></span>
</td>
<td class="nump">600,090<span></span>
</td>
<td class="nump">600,090<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mghl_PrincipalTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of principal transactions during the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mghl_PrincipalTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mghl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BrokerageCommissionsRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of commission revenue from buying and selling securities on behalf of customers.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 940<br> -SubTopic 20<br> -Section 05<br> -Paragraph 3<br> -URI https://asc.fasb.org/extlink&oid=126941114&loc=d3e40544-110947<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.13(a),(b))<br> -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BrokerageCommissionsRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClearanceFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense in the period for clearance fees.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClearanceFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 40<br> -Section 65<br> -Paragraph 1<br> -Subparagraph (e)(4)<br> -URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1448-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 40<br> -Section 65<br> -Paragraph 1<br> -Subparagraph (f)<br> -URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(23))<br> -URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(25))<br> -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(27))<br> -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 40<br> -Section 65<br> -Paragraph 1<br> -Subparagraph (f)<br> -URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(27))<br> -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(23))<br> -URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 40<br> -Section 65<br> -Paragraph 1<br> -Subparagraph (e)(4)<br> -URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(25))<br> -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 940<br> -SubTopic 20<br> -Section 25<br> -Paragraph 1<br> -URI https://asc.fasb.org/extlink&oid=126941158&loc=d3e41242-110953<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(10))<br> -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(8))<br> -URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 235<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-05(b)(2))<br> -URI https://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599<br><br>Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(15))<br> -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestAndDividendIncomeOperating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.1-5)<br> -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestAndDividendIncomeOperating</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(4))<br> -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LaborAndRelatedExpense</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
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https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756<br><br>Reference 34: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599<br><br>Reference 35: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OccupancyNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of net occupancy expense that may include items, such as depreciation of facilities and equipment, lease expenses, property taxes and property and casualty insurance expense.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.14(b))<br> -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -URI https://asc.fasb.org/extlink&oid=123386454&loc=d3e45280-112737<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.6)<br> -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OccupancyNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueNotFromContractWithCustomerOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue that is not accounted for under Topic 606, classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(1)(e))<br> -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueNotFromContractWithCustomerOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenuesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnderwritingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The difference between the price paid by the public and the contract price less the related expenses. A broker-dealer may underwrite a security offering by contracting to buy the issue either at a fixed price or a price based on selling the offering on a best-effort basis.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnderwritingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1505-109256<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1448-109256<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989090941648">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($)<br></strong></div></th>
<th class="th"><div>Common Stock [Member]</div></th>
<th class="th"><div>Additional Paid-in Capital [Member]</div></th>
<th class="th"><div>Accumulated Deficit [Member]</div></th>
<th class="th"><div>Total</div></th>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Dec. 31, 2020</a></td>
<td class="nump">$ 6,001<span></span>
</td>
<td class="nump">$ 53,886,180<span></span>
</td>
<td class="num">$ (49,284,876)<span></span>
</td>
<td class="nump">$ 4,607,305<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in shares) at Dec. 31, 2020</a></td>
<td class="nump">600,090<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Statements of Equity [Roll Forward]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(562,395)<span></span>
</td>
<td class="num">(562,395)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Mar. 31, 2021</a></td>
<td class="nump">$ 6,001<span></span>
</td>
<td class="nump">53,886,180<span></span>
</td>
<td class="num">(49,847,271)<span></span>
</td>
<td class="nump">4,044,910<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in shares) at Mar. 31, 2021</a></td>
<td class="nump">600,090<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Dec. 31, 2020</a></td>
<td class="nump">$ 6,001<span></span>
</td>
<td class="nump">53,886,180<span></span>
</td>
<td class="num">(49,284,876)<span></span>
</td>
<td class="nump">4,607,305<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in shares) at Dec. 31, 2020</a></td>
<td class="nump">600,090<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Statements of Equity [Roll Forward]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(1,283,290)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Jun. 30, 2021</a></td>
<td class="nump">$ 6,001<span></span>
</td>
<td class="nump">53,886,180<span></span>
</td>
<td class="num">(50,568,166)<span></span>
</td>
<td class="nump">3,324,015<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in shares) at Jun. 30, 2021</a></td>
<td class="nump">600,090<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Mar. 31, 2021</a></td>
<td class="nump">$ 6,001<span></span>
</td>
<td class="nump">53,886,180<span></span>
</td>
<td class="num">(49,847,271)<span></span>
</td>
<td class="nump">4,044,910<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in shares) at Mar. 31, 2021</a></td>
<td class="nump">600,090<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Statements of Equity [Roll Forward]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(720,895)<span></span>
</td>
<td class="num">(720,895)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Jun. 30, 2021</a></td>
<td class="nump">$ 6,001<span></span>
</td>
<td class="nump">53,886,180<span></span>
</td>
<td class="num">(50,568,166)<span></span>
</td>
<td class="nump">3,324,015<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in shares) at Jun. 30, 2021</a></td>
<td class="nump">600,090<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Dec. 31, 2021</a></td>
<td class="nump">$ 6,001<span></span>
</td>
<td class="nump">53,886,180<span></span>
</td>
<td class="num">(50,855,936)<span></span>
</td>
<td class="nump">$ 3,036,245<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in shares) at Dec. 31, 2021</a></td>
<td class="nump">600,090<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">600,090<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Statements of Equity [Roll Forward]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(347,113)<span></span>
</td>
<td class="num">$ (347,113)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Mar. 31, 2022</a></td>
<td class="nump">$ 6,001<span></span>
</td>
<td class="nump">53,886,180<span></span>
</td>
<td class="num">(51,203,049)<span></span>
</td>
<td class="nump">2,689,132<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in shares) at Mar. 31, 2022</a></td>
<td class="nump">600,090<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Dec. 31, 2021</a></td>
<td class="nump">$ 6,001<span></span>
</td>
<td class="nump">53,886,180<span></span>
</td>
<td class="num">(50,855,936)<span></span>
</td>
<td class="nump">$ 3,036,245<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in shares) at Dec. 31, 2021</a></td>
<td class="nump">600,090<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">600,090<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Statements of Equity [Roll Forward]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">$ (698,445)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Jun. 30, 2022</a></td>
<td class="nump">$ 6,001<span></span>
</td>
<td class="nump">53,886,180<span></span>
</td>
<td class="num">(51,554,381)<span></span>
</td>
<td class="nump">$ 2,337,800<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in shares) at Jun. 30, 2022</a></td>
<td class="nump">600,090<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">600,090<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Mar. 31, 2022</a></td>
<td class="nump">$ 6,001<span></span>
</td>
<td class="nump">53,886,180<span></span>
</td>
<td class="num">(51,203,049)<span></span>
</td>
<td class="nump">$ 2,689,132<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in shares) at Mar. 31, 2022</a></td>
<td class="nump">600,090<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Statements of Equity [Roll Forward]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(351,332)<span></span>
</td>
<td class="num">(351,332)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Jun. 30, 2022</a></td>
<td class="nump">$ 6,001<span></span>
</td>
<td class="nump">$ 53,886,180<span></span>
</td>
<td class="num">$ (51,554,381)<span></span>
</td>
<td class="nump">$ 2,337,800<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in shares) at Jun. 30, 2022</a></td>
<td class="nump">600,090<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">600,090<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21463-112644<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInStockholdersEquityRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794<br><br>Reference 4: 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 852<br> -SubTopic 10<br> -Section 55<br> -Paragraph 10<br> -URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 4.E)<br> -URI https://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(31))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612<br><br>Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989097567712">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Jun. 30, 2021</div></th>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Jun. 30, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash flows from operating activities:</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="num">$ (351,332)<span></span>
</td>
<td class="num">$ (720,895)<span></span>
</td>
<td class="num">$ (698,445)<span></span>
</td>
<td class="num">$ (1,283,290)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net loss to net cash used in operating activities:</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Depreciation', window );">Depreciation</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">5,472<span></span>
</td>
<td class="nump">5,630<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingAssetsAbstract', window );"><strong>(Increase)/decrease in assets:</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInBrokerageReceivables', window );">Receivables from brokers and clearing organizations</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(103,427)<span></span>
</td>
<td class="num">(48,313)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties', window );">Receivables from affiliates</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">7,061<span></span>
</td>
<td class="num">(2,282)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInIncomeTaxesReceivable', window );">Income taxes receivable</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(4,200)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherOperatingAssets', window );">Other assets</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">501,475<span></span>
</td>
<td class="num">(38,589)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract', window );"><strong>Increase/(decrease) in liabilities:</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities', window );">Compensation payable</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(267,531)<span></span>
</td>
<td class="num">(224,655)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties', window );">Payable to affiliates</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">113<span></span>
</td>
<td class="num">(29,348)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable', window );">Income taxes payable</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(1,501)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedLiabilities', window );">Accrued expenses and other liabilities</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">172,433<span></span>
</td>
<td class="nump">161,293<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities', window );">Total adjustments</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">309,895<span></span>
</td>
<td class="num">(176,264)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash used in operating activities</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(388,550)<span></span>
</td>
<td class="num">(1,459,554)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect', window );">Net decrease in cash, cash equivalents, and restricted cash</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(388,550)<span></span>
</td>
<td class="num">(1,459,554)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Cash, cash equivalents, and restricted cash at beginning of period</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">3,238,897<span></span>
</td>
<td class="nump">4,946,403<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Cash, cash equivalents, and restricted cash at end of period</a></td>
<td class="nump">2,850,347<span></span>
</td>
<td class="nump">3,486,849<span></span>
</td>
<td class="nump">2,850,347<span></span>
</td>
<td class="nump">3,486,849<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract', window );"><strong>Reconciliation to cash, cash equivalents, and restricted cash</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">2,500,347<span></span>
</td>
<td class="nump">3,286,849<span></span>
</td>
<td class="nump">2,500,347<span></span>
</td>
<td class="nump">3,286,849<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RestrictedCash', window );">Restricted cash: deposits with clearing organizations</a></td>
<td class="nump">350,000<span></span>
</td>
<td class="nump">200,000<span></span>
</td>
<td class="nump">350,000<span></span>
</td>
<td class="nump">200,000<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Cash, cash equivalents, and restricted cash</a></td>
<td class="nump">$ 2,850,347<span></span>
</td>
<td class="nump">$ 3,486,849<span></span>
</td>
<td class="nump">$ 2,850,347<span></span>
</td>
<td class="nump">$ 3,486,849<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The sum of adjustments which are added to or deducted from net income or loss, including the portion attributable to noncontrolling interest, to reflect cash provided by or used in operating activities, in accordance with the indirect cash flow method.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3044-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124098289&loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3521-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3044-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI https://asc.fasb.org/extlink&oid=126999549&loc=SL98516268-108586<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; excluding effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI https://asc.fasb.org/extlink&oid=123444420&loc=d3e33268-110906<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Depreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the obligations due for goods and services provided by the following types of related parties: a parent company and its subsidiaries, subsidiaries of a common parent, an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management, an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amount due to the reporting entity for good and services provided to the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management, an entity and its principal owners, management, member of their immediate families, affiliates, or other parties with the ability to exert significant influence.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInBrokerageReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the total amount due to the entity related to activities and operations with other broker dealers, and clearing organizations, including deposits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInBrokerageReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInIncomeTaxesReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in income taxes receivable, which represents the amount due from tax authorities for refunds of overpayments or recoveries of income taxes paid.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInIncomeTaxesReceivable</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingAssetsAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherOperatingAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in operating assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherOperatingAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3536-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3521-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794<br><br>Reference 4: 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https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756<br><br>Reference 34: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599<br><br>Reference 35: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI https://asc.fasb.org/extlink&oid=126999549&loc=SL98516268-108586<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(1)(a))<br> -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(2))<br> -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989092841456">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Organization and Business Description<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Organization and Business Description [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock', window );">Organization and Business Description</a></td>
<td class="text">
<div style="color: rgb(35, 31, 32); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Organization and Business
Description</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Morgan Group Holding Co. (the
“Company,” “Morgan Group,” or “Morgan”) was incorporated in November 2001 as a Delaware corporation to serve as a holding company which seeks acquisitions as part of its strategic alternatives. Prior to the October 31, 2019 merger with
G.research, LLC (“G.research”), discussed below, Morgan Group had no operating companies.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0);"><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company acquired
G.research from Associated Capital Group, Inc. (“AC”), an affiliate of the Company, on October 31, 2019, in exchange for issuing 500,000
shares of the Company’s common stock to AC (the “Merger”). Accordingly, G.research became a wholly owned subsidiary of the Company. Prior to the transaction, G.research was a wholly-owned subsidiary of Institutional Services holdings,
LLC, which, in turn, was a wholly-owned subsidiary of AC. After the transaction, AC had an 83.3% ownership interest in the
Company. As a result of this common ownership, the transaction was treated as a combination between entities under common control that led to a change in the reporting entity. The recognized assets and liabilities were transferred at
their carrying amounts at the date of the transaction.<br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">On March 16, 2020, AC’s Board of
Directors approved the spin-off of the Company to AC’s shareholders. Upon execution of the spin-off on August 5, 2020, AC distributed to its shareholders on a pro rata basis the 500,000 shares of Morgan that AC owned.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="color: rgb(0, 0, 0); text-align: justify; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">On May 5, 2020, the Morgan Group
board approved a reverse stock split of the issued and outstanding shares of their common stock, par value $0.01 per share, in
a ratio of 1-for-100 that was effective on June 10, 2020.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">G.research is a broker-dealer
registered with the Securities and Exchange Commission (the “SEC”) and is regulated by the Financial Industry Regulatory Authority (“FINRA”).</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">The Company provides institutional investors and investment partnerships with investment research with a particular focus on small-cap and mid-cap companies. The team of sell-side
analysts follows industry sectors on a global basis and performs fundamental security analysis using a Private Market Value (“PMV”) framework. PMV investing is a disciplined, research-driven approach based on security analysis. In this
process, the analyst selects stocks whose intrinsic value, based on the analyst’s estimate of current asset value and future growth and earnings power, is significantly different from the public market value as reflected in the public
market. PMV is defined as the price an informed industrial buyer would be likely to pay to acquire the business. The research focuses on company fundamentals, cash flow statistics, and catalysts that will help realize returns.</span> </div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company generates brokerage
commission revenues from securities transactions executed on an agency basis on behalf of institutional clients and mutual funds, private wealth management clients, and retail customers of affiliated companies. The Company generates
revenue from syndicated underwriting activities. It primarily participates in the offerings of certain closed-end funds advised by Gabelli Funds, LLC, a wholly-owned subsidiary of GAMCO Investors, Inc. (“GBL”), an affiliate. The Company
also earns investment income generated from its proprietary trading activities.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company acts as an introducing
broker, and all securities transactions for the Company and its customers are cleared through and carried by three New York
Stock Exchange (“NYSE”) member firms on a fully disclosed basis. The Company has Proprietary Accounts of Introducing Brokers (“PAIB”) agreements with these firms. Accordingly, open customer transactions are not reflected in the
accompanying Condensed Consolidated Statement of Financial Condition. The Company is exposed to credit losses on these open transactions in the event of nonperformance by its customers, pursuant to conditions of its clearing agreements
with its clearing brokers. This exposure is mitigated by the clearing brokers’ policy of monitoring the collateral and credit of the counterparties until the transaction is completed.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br/>
</span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s principal market is
in the United States (“U.S”).</div>
<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -URI https://asc.fasb.org/topic&trid=2122369<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -URI https://asc.fasb.org/topic&trid=2122149<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -URI https://asc.fasb.org/topic&trid=2134479<br></p></div>
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989098758752">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Significant Accounting Policies [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SignificantAccountingPoliciesTextBlock', window );">Significant Accounting Policies</a></td>
<td class="text">
<div style="text-align: justify; color: rgb(35, 31, 32); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">1.
Significant Accounting Policies</div>
<div><br/>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;"><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Basis of Presentation</span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The unaudited interim condensed
consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Rule 10-01 of
Regulation S-X. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements
reflect all adjustments, which are of a normal recurring nature, necessary for the fair presentation of financial position, results of operations, and cash flows of Morgan for the interim periods presented and are not necessarily
indicative of a full year’s results.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify;"><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The interim condensed consolidated
financial statements include the accounts of the Company and its wholly-owned subsidiary, G.research. Intercompany accounts and transactions have been eliminated.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify;"><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">These interim condensed
consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in our annual report on Form 10-K for the year ended December 31, 2021.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Use of Estimates</div>
<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s financial statements are prepared in accordance with U.S.
GAAP, which requires management to make estimates and assumptions 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 that reporting period. Actual results could differ from those estimates.</div>
<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for all significant accounting policies of the reporting entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI https://asc.fasb.org/extlink&oid=126899994&loc=d3e18726-107790<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -URI https://asc.fasb.org/topic&trid=2122369<br></p></div>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989096980688">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue from Contracts with Customers<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerAbstract', window );"><strong>Revenue from Contracts with Customers [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerTextBlock', window );">Revenue from Contracts with Customers</a></td>
<td class="text">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2. Revenue
from Contracts with Customers</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company records revenue from
contracts with customers in accordance with Accounting Standards Codification Topic 606, <span style="font-style: italic;">Revenue from Contracts with Customers</span> (“Topic 606”). Under Topic 606, the Company must identify the
contract with a customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract, and recognize revenue when the Company
satisfies a performance obligation.</div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br/>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Significant judgments that
affect the amounts and timing of revenue recognition:</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s analysis of the
timing of revenue recognition of each revenue stream is based on the provisions of each respective contract. Performance obligations could, however, change from time to time if and when existing contracts are modified or new contracts
are entered into. These changes could potentially affect the timing of satisfaction of performance obligations, the determination of the transaction price, and the allocation of the price to performance obligations. In the case of the
revenue streams discussed below, the performance obligation is satisfied either at a point in time or over time. The judgments outlined below, where the determination as to these factors is discussed in detail, are continually reviewed
and monitored by the Company when new contracts or contract modifications occur. Transaction price is in all instances formulaic and not subject to significant (or any) judgment at the current time.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s assessment of the
recognition of these revenues is as follows:</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Revenue from contracts with
customers includes commissions, fees earned from affiliated entities pursuant to research services agreements, underwriting fees, and sales manager fees.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Commissions</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="text-decoration: underline;">Brokerage commissions</span>.
Acting as agent, the Company buys and sells securities on behalf of its customers. Commissions are charged on the execution of these securities transactions made on behalf of client accounts and are negotiated. The Company recognizes
commission revenue when the related securities transactions are executed on the trade date. The Company believes that the performance obligation is satisfied on the trade date because that is when the underlying financial instrument or
purchaser is identified, the pricing is agreed upon, and the risks and rewards of ownership have been transferred to/from the customer. Commissions earned are typically collected from the clearing brokers utilized by the Company on a
daily or weekly basis.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="text-decoration: underline;">Hard dollar payments</span>. The
Company provides research services to unrelated parties, for which direct payment is received. The company may, or may not, have contracts for such services. Where a contract for such services is in place, the contractual fee for the
period is recognized ratably over the contract period, which is considered the period over which the Company satisfies its performance obligation. For payments where no research contract exists, revenue is not recognized until agreement
is reached with the client at which time the performance obligation is considered to have been met and revenue is recognized.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Commission revenues are impacted
by the perceived value of the research product provided to clients, the volume of securities transactions, and the acquisition or loss of new client relationships.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Fees earned
from affiliated entities pursuant to research services agreements</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company receives direct
payments for research services provided to related parties pursuant to contracts. The contractual fee for the period is fixed and recognized ratably over the contract period, typically a calendar year, which is considered the period
over which the Company satisfies its performance obligation. Payments for contracts with affiliated parties are collected monthly.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br/>
</span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Underwriting
fees</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0);"><span style="text-decoration: underline;"><span style="font-style: italic; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Underwriting fees</span></span><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">. The
Company acts as underwriter in an agent capacity. Revenues are earned from fees arising from these offerings and the terms are set forth in contracts between the underwriters and the issuer. The Company’s underwriting revenue is
considered to be conditional revenue because it is subject to reduction to zero once the offsetting syndicate expenses have been quantified by the syndicate manager (i.e., lead underwriter) and allocated to each underwriter in
proportion to their participation in the offering. Revenue recognition is therefore delayed until it is probable that a significant reversal in the amount of revenue recognized will not occur. That is, it is recognized only when
uncertainty associated with the syndicate expenses is subsequently resolved and final settlement of syndicate accounts is affected by the syndicate manager. Payment is typically received from the syndicate manager within ninety days after settlement date.</span></div>
<div style="text-align: justify; color: rgb(0, 0, 0);"><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br/>
</span></div>
<div style="text-align: justify; color: rgb(0, 0, 0);"><span style="text-decoration: underline;"><span style="font-style: italic; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none; font-weight: normal;">Selling concessions</span></span><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">. The Company participates as a member of the selling group of underwritten equity offerings and receives compensation based on the difference between what its customers pay for the securities sold to its
institutional clients and what the issuer receives. The terms of the selling concessions are set forth in contracts between the Company and the underwriter. Revenue is recognized on the trade date (the date on which the Company
purchases the securities from the issuer) for the portion the Company is contracted to buy. The Company believes that the trade date is the appropriate point in time to recognize revenue for securities underwriting transactions as
there are no significant actions the Company needs to take subsequent to this date, and the issuer obtains the control and benefit of the capital markets offering at this point. Selling concessions earned are typically collected from
the clearing brokers utilized by the Company on a daily or weekly basis.</span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Sales manager
fees</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company participates as
sales manager of at-the-market offerings of certain affiliated closed-end funds and receives a tiered percentage of proceeds as stipulated in agreements between the Company, the funds and the funds’ investment adviser. The Company
recognizes sales manager fees upon sale of the related closed-end funds. Sales manager fees earned are fixed and typically collected from the clearing brokers utilized by the Company on a daily or weekly basis.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Revenue
Disaggregated</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
</div>
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: justify;">Total revenues from contracts
with customers by type were as follows for the three and six months ended June 30, 2022 and 2021:</div>
<div><br class="Apple-interchange-newline"/></div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;">
<tr>
<td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Three months ended June 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Six months ended June 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Commissions</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">420,521</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">492,898</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">880,516</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">1,084,146</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-indent: -9pt; margin-left: 9pt;">Hard dollar payments</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">29,143</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">73,538</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">72,887</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">137,898</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">449,664</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">566,436</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">953,403</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">1,222,044</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-indent: -9pt; margin-left: 9pt;">Underwriting fees</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">6,311</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">449,664</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">566,436</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">953,403</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">1,228,356</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromContractWithCustomerAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromContractWithCustomerAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromContractWithCustomerTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -URI https://asc.fasb.org/topic&trid=49130388<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (b)(2)<br> -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -Subparagraph (b)<br> -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -Subparagraph (e)<br> -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -Subparagraph (d)<br> -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -Subparagraph (c)<br> -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989097039168">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Party Transactions<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock', window );">Related Party Transactions</a></td>
<td class="text">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">3. Related
Party Transactions</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div style="display:none;"><br/></div>
<div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify;">At June 30, 2022 and December 31, 2021, the Company had an investment of $2,468,951 and $2,859,939, respectively, in The Gabelli U.S. Treasury Money Market Fund advised by Gabelli Funds, LLC, which is an affiliate of the Company.
The amount is recorded in cash and cash equivalents in the Condensed Consolidated Statements of Financial Condition. Income earned from this investment totaled $3,213 and $8 for the three months ended June 30, 2022 and 2021,
respectively, and $3,422 and $125
for the six months ended June 30, 2022 and 2021, respectively, and is included in dividends and interest in the Condensed Consolidated Statements of Operations.</div>
<div style="display:none;"><br/></div>
<div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><br/>
</div>
<div style="display:none;"><br/></div>
<div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify;">For the three months ended June 30, 2022 and 2021, the Company earned $262,525 and $292,731 or approximately 58%
and 52%, respectively, of its commission revenue from transactions executed on behalf of funds advised by Gabelli Funds,
LLC. (“Gabelli Funds”) and private wealth management clients advised by GAMCO Asset Management Inc., (“GAMCO Asset”), each affiliates of the Company. For the six months ended June 30, 2022 and 2021, the Company earned $537,420 and $664,981 or
approximately 56% and 54%,
respectively, of its commission revenue from transactions executed on behalf of funds advised by Gabelli Funds and private wealth management clients advised by GAMCO Asset.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">AC has a sublease agreement with
GBL that expired on April 1, 2020 and continues on a month to month basis. AC allocates this expense to the Company based on the percentage of square footage occupied by the Company’s employees (including pro rata allocation of common
space). For the three months ended June 30, 2022 and 2021, the Company paid<span style="font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; text-align: justify; text-indent: 0px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;"> $14,110 and $26,111, respectively, under the sublease agreement. </span>For
the six months ended June 30, 2022 and 2021, the Company paid $28,764 and $52,242, respectively, under the sublease agreement. These amounts are included within occupancy and equipment expenses on the Condensed Consolidated Statements of
Operations.</div>
<span></span>
</td>
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<div style="display: none;">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -URI https://asc.fasb.org/topic&trid=2122745<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989096957584">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Value<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresAbstract', window );"><strong>Fair Value [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresTextBlock', window );">Fair Value</a></td>
<td class="text">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">4. Fair Value</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The carrying amounts of all
financial instruments in the Condensed Consolidated Statements of Financial Condition approximate their fair values.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s financial
instruments have been categorized based upon a fair value hierarchy:</div>
<div><br/>
</div>
<table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 18pt;"><br/>
</td>
<td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">-</td>
<td style="width: auto; vertical-align: top;">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: justify;">Level
1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 1 assets include cash equivalents.</div>
</td>
</tr>
</table>
<table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 18pt;"><br/>
</td>
<td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">-</td>
<td style="width: auto; vertical-align: top;">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: justify;">Level
2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active
markets and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals.</div>
</td>
</tr>
</table>
<table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 18pt;"><br/>
</td>
<td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">-</td>
<td style="width: auto; vertical-align: top;">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: justify;">Level
3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. These assets include infrequently traded common stocks.</div>
</td>
</tr>
</table>
<div><br/>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0);"><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The following tables present information about the Company’s assets and liabilities by major category measured at fair value on a recurring basis as of  June 30, 2022 and December 31, 2021 and indicates the fair
value hierarchy of the valuation techniques utilized by the Company to determine such fair value:</span><br/>
</div>
<div><br/>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Assets Measured
at Fair Value on a Recurring Basis as of June 30, 2022:</div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;"> <br/>
</div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">
<tr>
<td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div> </div>
<div> </div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Quoted Prices in Active<br/>
</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Markets for Identical</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets (Level 1)</div>
</td>
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<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant Other</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Observable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 2)</div>
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<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Unobservable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 3)</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Total</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">Cash equivalents</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,468,951</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,468,951</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 52%; padding-bottom: 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: bold;">Total assets at fair value</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,468,951<br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,468,951</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
<div><br/></div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">There were no transfers between
any levels during the six months ended June 30, 2022.</span></div>
<div> </div>
<div><span style="font-weight: bold;"><span style="background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Assets Measured at Fair Value on a
Recurring Basis as of December 31, 2021: </span></span></div>
<div style="color: rgb(0, 0, 0); font-weight: bold;"> <br/>
</div>
<table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">
<tr>
<td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div> </div>
<div> </div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Quoted Prices in Active<br/>
</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Markets for Identical</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets (Level 1)</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant Other</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Observable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 2)</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Unobservable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 3)</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Total</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">Cash equivalents</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,859,939</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,859,939</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 52%; padding-bottom: 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: bold;">Total assets at fair value</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,859,939</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,859,939</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
<div><br/>
</div>
<div style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">There were no transfers between
any levels during the year ended December 31, 2021.</div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Cash
equivalents primarily consist of an affiliated money market mutual fund which is invested solely in U.S. Treasuries and valued based on the net asset value of the fund.</div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="color: rgb(0, 0, 0); font-style: italic; background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Financial assets disclosed but not
carried at fair value</div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The carrying
value of other financial assets and liabilities approximates their fair value based on the short term nature of these items.</div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueDisclosuresTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258<br></p></div>
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989096979360">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Retirement Plan<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CompensationAndRetirementDisclosureAbstract', window );"><strong>Retirement Plan [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock', window );">Retirement Plan</a></td>
<td class="text">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">5. Retirement
Plan</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">The Company participates in Associated Capital’s incentive savings plan (the “Plan”), covering substantially all employees. Company contributions to the Plan are determined annually by
management of the Company and AC’s Board of Directors but may not exceed the amount permitted as a deductible expense under the Internal Revenue Code. Amounts expensed for allocated contributions to this Plan amounted to approximately $0 as contributions to the plan are expected to be immaterial for the six months ended June 30, 2022. Contributions for the six months ended
June 30, 2021 resulted in a credit of ($10,666) as reductions in headcount. Contributions and adjustments thereto were
recorded as compensation and related costs in the Statement of Operations.</span> </div>
<span></span>
</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for retirement benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 20<br> -Section 55<br> -Paragraph 17<br> -URI https://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 20<br> -Section S99<br> -Paragraph 2<br> -URI https://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)(i)<br> -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (o)<br> -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (p)<br> -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 70<br> -Section 50<br> -Paragraph 1<br> -URI https://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -URI https://asc.fasb.org/topic&trid=2235017<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 60<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI https://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)(iv)(03)<br> -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (q)<br> -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (r)(1)<br> -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)(iii)<br> -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (l)<br> -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (r)(2)<br> -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920<br></p></div>
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989096928096">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Taxes [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureTextBlock', window );">Income Taxes</a></td>
<td class="text">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">6. Income Taxes</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: justify;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">The effective tax rate (“ETR”) for the three months ended June 30, 2022 and 2021 was 0.0%
and 0.0%, respectively, and the ETR for the six months ended June 30, 2022 and 2021 was 0.0% and 0.0%,
respectively. The ETR differs from the U.S. corporate rate of 21% for all periods due to state taxes and a valuation
allowance recorded on the deferred tax assets, mainly net operating loss carryforwards.</span> </div>
<span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 11.C)<br> -URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 17<br> -Subparagraph (b)<br> -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.5.Q1)<br> -URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 14<br> -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 270<br> -Section 50<br> -Paragraph 1<br> -URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -URI https://asc.fasb.org/topic&trid=2144680<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h)(2))<br> -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989092071488">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings per Share<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Earnings per Share [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareTextBlock', window );">Earnings per Share</a></td>
<td class="text">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">7. Earnings
per Share</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Basic earnings per share is
computed by dividing net income / (loss) attributable to shareholders by the weighted average number of shares outstanding during the period. There were no dilutive shares outstanding during the periods.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The computations of basic and
diluted net loss per share are as follows:</div>
<div><br class="Apple-interchange-newline"/></div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: &amp; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;">
<tr>
<td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: top; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Three
Months Ended June 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: top; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Six Months Ended June 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Basic and diluted:</div>
</td>
<td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Net loss attributable
to shareholders</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(351,332</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(720,895</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(698,445</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(1,283,290</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Weighted average
shares outstanding</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">600,090</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">600,090</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">600,090</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">600,090</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Basic and diluted net
loss per share</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(0.59</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(1.20</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(1.16</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(2.14</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
</tr>
</table>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareTextBlock">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for earnings per share.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -URI https://asc.fasb.org/topic&trid=2144383<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257<br></p></div>
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989092863248">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityAbstract', window );"><strong>Equity [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteDisclosureTextBlock', window );">Equity</a></td>
<td class="text">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">8. Equity</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">In conjunction with the Merger on
October 31, 2019, the Company issued 50,000,000 shares of common stock to AC. The common stock, additional paid in capital,
earnings per share, and accumulated deficit amounts in these consolidated financial statements for the period prior to the Merger have been restated to reflect the recapitalization in accordance with the shares issued as a result of the
Merger.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br/>
</span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">See the Organization and Business
Description Note above for detail.</div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>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.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -URI https://asc.fasb.org/topic&trid=2208762<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (b)<br> -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 14<br> -Subparagraph (c)<br> -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 18<br> -Subparagraph (d)<br> -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (g)<br> -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 18<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (h)<br> -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 18<br> -Subparagraph (b)<br> -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 16<br> -Subparagraph (b)<br> -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (i)<br> -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(e)(1))<br> -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 40<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989098711200">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Guarantees, Contingencies, and Commitments<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureAbstract', window );"><strong>Guarantees, Contingencies, and Commitments [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommitmentsContingenciesAndGuaranteesTextBlock', window );">Guarantees, Contingencies, and Commitments</a></td>
<td class="text">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">9. Guarantees,
Contingencies, and Commitments</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company has agreed to
indemnify its clearing brokers for losses they may sustain from the customer accounts that trade on margin introduced by the Company. At June 30, 2022 and December 31, 2021, the total amount of customer balances subject to indemnification
(i.e., unsecured margin debits) was immaterial. The Company also has entered into arrangements with various other third parties, many of which provide for indemnification of the third parties against losses, costs, claims, and liabilities
arising from the performance of the Company’s obligations under the agreements. The Company has had no claims or payments pursuant to these or prior agreements, and management believes the likelihood of a claim being made is remote, and
therefore, an accrual has not been made in the consolidated financial statements.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">From time to time, the Company is
named in legal actions and proceedings. These actions may seek substantial or indeterminate compensatory as well as punitive damages or injunctive relief. The Company is also subject to governmental or regulatory examinations or
investigations. The examinations or investigations could result in adverse judgments, settlements, fines, injunctions, restitutions, or other relief. The Company cannot predict the ultimate outcome of such matters. The consolidated
financial statements include the necessary provisions for losses that the Company believes are probable and estimable, if any. Furthermore, the Company evaluates whether losses exist which may be reasonably possible and, if material,
makes the necessary disclosures. Such amounts, both those that are probable and those that are reasonably possible, are not considered material to the Company’s financial condition, operations, or cash flows.</div>
<span></span>
</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for commitments, contingencies, and guarantees.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -URI https://asc.fasb.org/topic&trid=2127136<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -URI https://asc.fasb.org/topic&trid=2144648<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 460<br> -URI https://asc.fasb.org/topic&trid=2155896<br></p></div>
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989092869104">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Net Capital Requirements<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RegulatoryCapitalRequirementsAbstract', window );"><strong>Net Capital Requirements [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mghl_BrokerDealerNetCapitalRequirementTextBlock', window );">Net Capital Requirements</a></td>
<td class="text">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">10. Net Capital
Requirements</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">As a registered broker-dealer,
G.research is subject to the SEC Uniform Net Capital Rule 15c3-1 (the “Rule”), which specifies, among other requirements, minimum net capital requirements for registered broker-dealers. G.research computes its net capital under the
alternative method as permitted by the Rule, which requires that minimum net capital be the greater of $250,000 or 2% of the aggregate debit items in the reserve formula for those broker-dealers subject to Rule 15c3-3. G.research is
exempt from Rule 15c3-3 pursuant to paragraph (k)(2)(ii) of that rule which exempts all customer transactions cleared through another broker-dealer on a fully disclosed basis. In addition, our assets at the clearing broker-dealer are
treated as allowable assets for net capital purposes as we have in place PAIB agreements pursuant to Rule 15c3-3. These requirements also provide that equity capital may not be withdrawn, advances to affiliates may not be made, or cash
dividends paid if certain minimum net capital requirements are not met. G.research had net capital, as defined, of $1,848,638
and $1,874,428 exceeding the required amount of $250,000 by $1,598,638 and $1,624,428 June 30, 2022 and December 31,
2021, respectively.</div>
<span></span>
</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for net capital requirement for broker-dealer under Securities and Exchange Commission (SEC) regulation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989098706416">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Events<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SubsequentEventsAbstract', window );"><strong>Subsequent Events [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SubsequentEventsTextBlock', window );">Subsequent Events</a></td>
<td class="text">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">11. Subsequent
Events</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company has evaluated
subsequent events for adjustment to or disclosure through August 15, 2022, the date of this report and the Company has not identified any subsequent events not otherwise reported in these financial statements or the notes thereto, that
required recognition or additional disclosures in the financial statements.</div>
<span></span>
</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 855<br> -URI https://asc.fasb.org/topic&trid=2122774<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 855<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsequentEventsTextBlock</td>
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<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989092895664">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Organization and Business Description (Policies)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Organization and Business Description [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mghl_OrganizationAndBusinessDescriptionPolicyTextBlock', window );">Organization and Business Description</a></td>
<td class="text">
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Morgan Group Holding Co. (the
“Company,” “Morgan Group,” or “Morgan”) was incorporated in November 2001 as a Delaware corporation to serve as a holding company which seeks acquisitions as part of its strategic alternatives. Prior to the October 31, 2019 merger with
G.research, LLC (“G.research”), discussed below, Morgan Group had no operating companies.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0);"><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company acquired
G.research from Associated Capital Group, Inc. (“AC”), an affiliate of the Company, on October 31, 2019, in exchange for issuing 500,000
shares of the Company’s common stock to AC (the “Merger”). Accordingly, G.research became a wholly owned subsidiary of the Company. Prior to the transaction, G.research was a wholly-owned subsidiary of Institutional Services holdings,
LLC, which, in turn, was a wholly-owned subsidiary of AC. After the transaction, AC had an 83.3% ownership interest in the
Company. As a result of this common ownership, the transaction was treated as a combination between entities under common control that led to a change in the reporting entity. The recognized assets and liabilities were transferred at
their carrying amounts at the date of the transaction.<br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">On March 16, 2020, AC’s Board of
Directors approved the spin-off of the Company to AC’s shareholders. Upon execution of the spin-off on August 5, 2020, AC distributed to its shareholders on a pro rata basis the 500,000 shares of Morgan that AC owned.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="color: rgb(0, 0, 0); text-align: justify; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">On May 5, 2020, the Morgan Group
board approved a reverse stock split of the issued and outstanding shares of their common stock, par value $0.01 per share, in
a ratio of 1-for-100 that was effective on June 10, 2020.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">G.research is a broker-dealer
registered with the Securities and Exchange Commission (the “SEC”) and is regulated by the Financial Industry Regulatory Authority (“FINRA”).</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">The Company provides institutional investors and investment partnerships with investment research with a particular focus on small-cap and mid-cap companies. The team of sell-side
analysts follows industry sectors on a global basis and performs fundamental security analysis using a Private Market Value (“PMV”) framework. PMV investing is a disciplined, research-driven approach based on security analysis. In this
process, the analyst selects stocks whose intrinsic value, based on the analyst’s estimate of current asset value and future growth and earnings power, is significantly different from the public market value as reflected in the public
market. PMV is defined as the price an informed industrial buyer would be likely to pay to acquire the business. The research focuses on company fundamentals, cash flow statistics, and catalysts that will help realize returns.</span> </div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company generates brokerage
commission revenues from securities transactions executed on an agency basis on behalf of institutional clients and mutual funds, private wealth management clients, and retail customers of affiliated companies. The Company generates
revenue from syndicated underwriting activities. It primarily participates in the offerings of certain closed-end funds advised by Gabelli Funds, LLC, a wholly-owned subsidiary of GAMCO Investors, Inc. (“GBL”), an affiliate. The Company
also earns investment income generated from its proprietary trading activities.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company acts as an introducing
broker, and all securities transactions for the Company and its customers are cleared through and carried by three New York
Stock Exchange (“NYSE”) member firms on a fully disclosed basis. The Company has Proprietary Accounts of Introducing Brokers (“PAIB”) agreements with these firms. Accordingly, open customer transactions are not reflected in the
accompanying Condensed Consolidated Statement of Financial Condition. The Company is exposed to credit losses on these open transactions in the event of nonperformance by its customers, pursuant to conditions of its clearing agreements
with its clearing brokers. This exposure is mitigated by the clearing brokers’ policy of monitoring the collateral and credit of the counterparties until the transaction is completed.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br/>
</span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s principal market is
in the United States (“U.S”).</div>
<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for organization and business of the Company.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989092882432">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Policies)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Significant Accounting Policies [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BasisOfAccountingPolicyPolicyTextBlock', window );">Basis of Presentation</a></td>
<td class="text">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;"><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Basis of Presentation</span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The unaudited interim condensed
consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Rule 10-01 of
Regulation S-X. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements
reflect all adjustments, which are of a normal recurring nature, necessary for the fair presentation of financial position, results of operations, and cash flows of Morgan for the interim periods presented and are not necessarily
indicative of a full year’s results.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify;"><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The interim condensed consolidated
financial statements include the accounts of the Company and its wholly-owned subsidiary, G.research. Intercompany accounts and transactions have been eliminated.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify;"><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">These interim condensed
consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in our annual report on Form 10-K for the year ended December 31, 2021.</div>
<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Use of Estimates</a></td>
<td class="text">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Use of Estimates</div>
<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s financial statements are prepared in accordance with U.S.
GAAP, which requires management to make estimates and assumptions 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 that reporting period. Actual results could differ from those estimates.</div>
<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI https://asc.fasb.org/extlink&oid=99393423&loc=d3e6191-108592<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI https://asc.fasb.org/extlink&oid=99393423&loc=d3e6161-108592<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI https://asc.fasb.org/extlink&oid=99393423&loc=d3e6143-108592<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI https://asc.fasb.org/extlink&oid=99393423&loc=d3e5967-108592<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI https://asc.fasb.org/extlink&oid=99393423&loc=d3e6061-108592<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI https://asc.fasb.org/extlink&oid=99393423&loc=d3e6132-108592<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI https://asc.fasb.org/extlink&oid=99393423&loc=d3e5967-108592<br></p></div>
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989092895664">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue from Contracts with Customers (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerAbstract', window );"><strong>Revenue from Contracts with Customers [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueTableTextBlock', window );">Total Revenues by Type</a></td>
<td class="text">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
</div>
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: justify;">Total revenues from contracts
with customers by type were as follows for the three and six months ended June 30, 2022 and 2021:</div>
<div><br class="Apple-interchange-newline"/></div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;">
<tr>
<td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Three months ended June 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Six months ended June 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Commissions</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">420,521</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">492,898</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">880,516</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">1,084,146</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-indent: -9pt; margin-left: 9pt;">Hard dollar payments</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">29,143</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">73,538</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">72,887</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">137,898</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">449,664</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">566,436</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">953,403</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">1,222,044</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-indent: -9pt; margin-left: 9pt;">Underwriting fees</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">6,311</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">449,664</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">566,436</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">953,403</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">1,228,356</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045<br></p></div>
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989092071488">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Value (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresAbstract', window );"><strong>Fair Value [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock', window );">Assets Measured at Fair Value on a Recurring Basis</a></td>
<td class="text">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Assets Measured
at Fair Value on a Recurring Basis as of June 30, 2022:</div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;"> <br/>
</div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">
<tr>
<td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div> </div>
<div> </div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Quoted Prices in Active<br/>
</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Markets for Identical</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets (Level 1)</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant Other</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Observable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 2)</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Unobservable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 3)</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Total</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">Cash equivalents</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,468,951</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,468,951</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 52%; padding-bottom: 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: bold;">Total assets at fair value</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,468,951<br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,468,951</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
<div><br/></div>
<div><span style="font-weight: bold;"><span style="background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Assets Measured at Fair Value on a
Recurring Basis as of December 31, 2021: </span></span></div>
<div style="color: rgb(0, 0, 0); font-weight: bold;"> <br/>
</div>
<table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">
<tr>
<td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div> </div>
<div> </div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Quoted Prices in Active<br/>
</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Markets for Identical</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets (Level 1)</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant Other</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Observable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 2)</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Unobservable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 3)</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Total</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">Cash equivalents</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,859,939</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,859,939</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 52%; padding-bottom: 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: bold;">Total assets at fair value</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,859,939</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,859,939</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258<br></p></div>
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989092866672">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings per Share (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Earnings per Share [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock', window );">Computations of Basic and Diluted Net Loss Per Share</a></td>
<td class="text">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The computations of basic and
diluted net loss per share are as follows:</div>
<div><br class="Apple-interchange-newline"/></div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: &amp; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;">
<tr>
<td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: top; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Three
Months Ended June 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: top; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Six Months Ended June 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Basic and diluted:</div>
</td>
<td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Net loss attributable
to shareholders</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(351,332</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(720,895</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(698,445</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(1,283,290</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Weighted average
shares outstanding</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">600,090</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">600,090</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">600,090</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">600,090</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Basic and diluted net
loss per share</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(0.59</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(1.20</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(1.16</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(2.14</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
</tr>
</table>
<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989092172432">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Organization and Business Description (Details)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Aug. 05, 2020 </div>
<div>shares</div>
</th>
<th class="th">
<div>Jun. 10, 2020 </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Oct. 31, 2019 </div>
<div>shares</div>
</th>
<th class="th">
<div>Jun. 30, 2022 </div>
<div>Firm </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>$ / shares</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mghl_OrganizationAndNatureOfBusinessAbstract', window );"><strong>Organization and Business Description [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value (in dollars per share) | $ / shares</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteStockSplitConversionRatio1', window );">Reverse stock split ratio</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">0.01<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mghl_NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared', window );">Number of NYSE member firms through which all securities transactions are cleared | Firm</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=mghl_AssociatedCapitalGroupMember', window );">Associated Capital Group [Member]</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mghl_OrganizationAndNatureOfBusinessAbstract', window );"><strong>Organization and Business Description [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mghl_StockIssuedDuringPeriodSharesSpinOff', window );">Shares distributed to shareholders in spin-off (in shares)</a></td>
<td class="nump">500,000<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mghl_GResearchLLCMember', window );">G.research, LLC [Member] | Associated Capital Group [Member]</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mghl_OrganizationAndNatureOfBusinessAbstract', window );"><strong>Organization and Business Description [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued', window );">Stock acquired (in shares)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">500,000<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mghl_GResearchLLCMember', window );">G.research, LLC [Member] | Morgan Group, Inc. [Member] | Associated Capital Group [Member]</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mghl_OrganizationAndNatureOfBusinessAbstract', window );"><strong>Organization and Business Description [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_MinorityInterestOwnershipPercentageByParent', window );">Ownership interest</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">83.30%<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mghl_NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Refers to the number of New York Stock Exchange ("NYSE") member firms through which all securities transactions for the Company and its customers are cleared.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mghl_NumberOfNYSEMemberFirmsThroughWhichAllSecuritiesTransactionsAreCleared</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mghl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mghl_OrganizationAndNatureOfBusinessAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mghl_OrganizationAndNatureOfBusinessAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mghl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mghl_StockIssuedDuringPeriodSharesSpinOff">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued during the period as a result of a spin-off.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mghl_StockIssuedDuringPeriodSharesSpinOff</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mghl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares of equity interests issued or issuable to acquire entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(4)<br> -URI https://asc.fasb.org/extlink&oid=126975305&loc=d3e6927-128479<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterestOwnershipPercentageByParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The parent entity's interest in net assets of the subsidiary, expressed as a percentage.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterestOwnershipPercentageByParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityNoteStockSplitConversionRatio1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Ratio applied to the conversion of stock split, for example but not limited to, one share converted to two or two shares converted to one.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 4<br> -Subparagraph (SAB TOPIC 4.C)<br> -URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187143-122770<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityNoteStockSplitConversionRatio1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=mghl_AssociatedCapitalGroupMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=mghl_AssociatedCapitalGroupMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mghl_GResearchLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mghl_GResearchLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_OwnershipAxis=mghl_MorganGroupIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_OwnershipAxis=mghl_MorganGroupIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>35
<FILENAME>R25.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989097586192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue from Contracts with Customers (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Jun. 30, 2021</div></th>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Jun. 30, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerAbstract', window );"><strong>Revenue from Contracts with Customers [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mghl_UnderwriterPaymentReceivingMaximumPeriod', window );">Underwriter payment receiving period</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">90 days<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueAbstract', window );"><strong>Total Revenues by Type [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="nump">$ 449,664<span></span>
</td>
<td class="nump">$ 566,436<span></span>
</td>
<td class="nump">$ 953,403<span></span>
</td>
<td class="nump">$ 1,228,356<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ProductOrServiceAxis=mghl_BrokerageCommissionsMember', window );">Brokerage Commissions [Member]</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueAbstract', window );"><strong>Total Revenues by Type [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="nump">449,664<span></span>
</td>
<td class="nump">566,436<span></span>
</td>
<td class="nump">953,403<span></span>
</td>
<td class="nump">1,222,044<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ProductOrServiceAxis=mghl_CommissionsMember', window );">Commissions [Member]</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueAbstract', window );"><strong>Total Revenues by Type [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="nump">420,521<span></span>
</td>
<td class="nump">492,898<span></span>
</td>
<td class="nump">880,516<span></span>
</td>
<td class="nump">1,084,146<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ProductOrServiceAxis=mghl_HardDollarPaymentsMember', window );">Hard Dollar Payments [Member]</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueAbstract', window );"><strong>Total Revenues by Type [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="nump">29,143<span></span>
</td>
<td class="nump">73,538<span></span>
</td>
<td class="nump">72,887<span></span>
</td>
<td class="nump">137,898<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ProductOrServiceAxis=mghl_UnderwritingFeesMember', window );">Underwriting Fees [Member]</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueAbstract', window );"><strong>Total Revenues by Type [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 6,311<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mghl_UnderwriterPaymentReceivingMaximumPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The maximum period within which the payment received from the underwriter after settlement date in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mghl_UnderwriterPaymentReceivingMaximumPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mghl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisaggregationOfRevenueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisaggregationOfRevenueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromContractWithCustomerAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromContractWithCustomerAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 40<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 41<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (b)<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 42<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 924<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 11.L)<br> -URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=mghl_BrokerageCommissionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=mghl_BrokerageCommissionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=mghl_CommissionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=mghl_CommissionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=mghl_HardDollarPaymentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=mghl_HardDollarPaymentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=mghl_UnderwritingFeesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=mghl_UnderwritingFeesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989097575840">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Party Transactions, Revenue from Transactions with Related Parties (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Jun. 30, 2021</div></th>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Jun. 30, 2021</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestAndDividendIncomeOperating', window );">Investment income</a></td>
<td class="nump">$ 9,274<span></span>
</td>
<td class="nump">$ 3,377<span></span>
</td>
<td class="nump">$ 14,213<span></span>
</td>
<td class="nump">$ 12,363<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mghl_GabelliFundsLLCMember', window );">Gabelli Funds, LLC [Member] | Gabelli U.S. Treasury Money Market Fund [Member]</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Investments', window );">Affiliated investments</a></td>
<td class="nump">2,468,951<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">2,468,951<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 2,859,939<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestAndDividendIncomeOperating', window );">Investment income</a></td>
<td class="nump">3,213<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="nump">3,422<span></span>
</td>
<td class="nump">125<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=srt_AffiliatedEntityMember', window );">Affiliated Entities [Member] | Commissions [Member]</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenueFromRelatedParties', window );">Revenue from related party transactions</a></td>
<td class="nump">$ 262,525<span></span>
</td>
<td class="nump">$ 292,731<span></span>
</td>
<td class="nump">$ 537,420<span></span>
</td>
<td class="nump">$ 664,981<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mghl_RevenueFromRelatedPartyPercentage', window );">Revenue percentage</a></td>
<td class="nump">58.00%<span></span>
</td>
<td class="nump">52.00%<span></span>
</td>
<td class="nump">56.00%<span></span>
</td>
<td class="nump">54.00%<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mghl_RevenueFromRelatedPartyPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mghl_RevenueFromRelatedPartyPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mghl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestAndDividendIncomeOperating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.1-5)<br> -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestAndDividendIncomeOperating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Investments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all investments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(h))<br> -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Investments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(iv))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07.1(c))<br> -URI https://asc.fasb.org/extlink&oid=120401555&loc=SL114874292-224272<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(iii)(B))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(iii)(C))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(5))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(5))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(iv))<br> -URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(e))<br> -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mghl_GabelliFundsLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mghl_GabelliFundsLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentTypeAxis=mghl_USTreasuryMoneyMarketFundMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentTypeAxis=mghl_USTreasuryMoneyMarketFundMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=srt_AffiliatedEntityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=srt_AffiliatedEntityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=mghl_CommissionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=mghl_CommissionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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</DOCUMENT>
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989091285456">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Party Transactions, Transactions with Associated Capital Group (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Jun. 30, 2021</div></th>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Jun. 30, 2021</div></th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=mghl_AssociatedCapitalGroupMember', window );">Associated Capital Group [Member]</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mghl_PaymentMadeUnderSubleaseAgreement', window );">Payment made under sublease agreement</a></td>
<td class="nump">$ 14,110<span></span>
</td>
<td class="nump">$ 26,111<span></span>
</td>
<td class="nump">$ 28,764<span></span>
</td>
<td class="nump">$ 52,242<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mghl_PaymentMadeUnderSubleaseAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount paid by the organization under sublease agreement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mghl_PaymentMadeUnderSubleaseAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mghl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=mghl_AssociatedCapitalGroupMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=mghl_AssociatedCapitalGroupMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>38
<FILENAME>R28.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989086102784">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Fair Value (Details) - Recurring [Member] - USD ($)<br></strong></div></th>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets Measured at Fair Value [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsFairValueDisclosure', window );">Cash equivalents</a></td>
<td class="nump">$ 2,468,951<span></span>
</td>
<td class="nump">$ 2,859,939<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Total assets at fair value</a></td>
<td class="nump">2,468,951<span></span>
</td>
<td class="nump">2,859,939<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember', window );">Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets Measured at Fair Value [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsFairValueDisclosure', window );">Cash equivalents</a></td>
<td class="nump">2,468,951<span></span>
</td>
<td class="nump">2,859,939<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Total assets at fair value</a></td>
<td class="nump">2,468,951<span></span>
</td>
<td class="nump">2,859,939<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember', window );">Significant Other Observable Inputs (Level 2) [Member]</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets Measured at Fair Value [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsFairValueDisclosure', window );">Cash equivalents</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Total assets at fair value</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember', window );">Significant Unobservable Inputs (Level 3) [Member]</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets Measured at Fair Value [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsFairValueDisclosure', window );">Cash equivalents</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Total assets at fair value</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsFairValueDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsFairValueDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>39
<FILENAME>R29.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989092146640">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Retirement Plan (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Jun. 30, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CompensationAndRetirementDisclosureAbstract', window );"><strong>Retirement Plan [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount', window );">Allocated contributions</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="num">$ (10,666)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CompensationAndRetirementDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CompensationAndRetirementDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of discretionary contributions made by an employer to a defined contribution plan.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>40
<FILENAME>R30.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989086067456">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes (Details)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Jun. 30, 2021</div></th>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Jun. 30, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Taxes [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations', window );">Effective tax rate</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate', window );">U.S. corporate rate</a></td>
<td class="nump">21.00%<span></span>
</td>
<td class="nump">21.00%<span></span>
</td>
<td class="nump">21.00%<span></span>
</td>
<td class="nump">21.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of domestic federal statutory tax rate applicable to pretax income (loss).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.4)<br> -URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h)(2))<br> -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate</td>
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<tr>
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<td>us-gaap_</td>
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<td>dtr-types:percentItemType</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
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<td>xbrli:stringItemType</td>
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989092041872">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings per Share (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="4">3 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Mar. 31, 2022</div></th>
<th class="th"><div>Jun. 30, 2021</div></th>
<th class="th"><div>Mar. 31, 2021</div></th>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Jun. 30, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mghl_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAbstract', window );"><strong>Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Antidilutive securities excluded from computation of earnings per share (in shares)</a></td>
<td class="nump">0<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareReconciliationAbstract', window );"><strong>Basic and diluted [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss attributable to shareholders</a></td>
<td class="num">$ (351,332)<span></span>
</td>
<td class="num">$ (347,113)<span></span>
</td>
<td class="num">$ (720,895)<span></span>
</td>
<td class="num">$ (562,395)<span></span>
</td>
<td class="num">$ (698,445)<span></span>
</td>
<td class="num">$ (1,283,290)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Weighted average shares outstanding, basic (in shares)</a></td>
<td class="nump">600,090<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">600,090<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">600,090<span></span>
</td>
<td class="nump">600,090<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Weighted average shares outstanding, diluted (in shares)</a></td>
<td class="nump">600,090<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">600,090<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">600,090<span></span>
</td>
<td class="nump">600,090<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic net loss per share (in dollars per share)</a></td>
<td class="num">$ (0.59)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">$ (1.20)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">$ (1.16)<span></span>
</td>
<td class="num">$ (2.14)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted net loss per share (in dollars per share)</a></td>
<td class="num">$ (0.59)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">$ (1.20)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">$ (1.16)<span></span>
</td>
<td class="num">$ (2.14)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mghl_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mghl_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 40<br> -Section 65<br> -Paragraph 1<br> -Subparagraph (e)(4)<br> -URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1448-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 40<br> -Section 65<br> -Paragraph 1<br> -Subparagraph (f)<br> -URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(23))<br> -URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(25))<br> -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(27))<br> -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 40<br> -Section 65<br> -Paragraph 1<br> -Subparagraph (f)<br> -URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(27))<br> -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(23))<br> -URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 40<br> -Section 65<br> -Paragraph 1<br> -Subparagraph (e)(4)<br> -URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(25))<br> -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareReconciliationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareReconciliationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794<br><br>Reference 4: 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1505-109256<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1448-109256<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989092860112">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Equity (Details)<br></strong></div></th>
<th class="th">
<div>Oct. 31, 2019 </div>
<div>shares</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=mghl_AssociatedCapitalGroupMember', window );">Associated Capital Group [Member]</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteAbstract', window );"><strong>Stockholders' Equity [Abstract]</strong></a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions', window );">Common stock issued in conjunction with merger (in shares)</a></td>
<td class="nump">50,000,000<span></span>
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<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares of stock issued during the period pursuant to acquisitions.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139989090775200">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Net Capital Requirements (Details) - G.research, LLC [Member] - USD ($)<br></strong></div></th>
<th class="th"><div>Jun. 30, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
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<td class="text"> <span></span>
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<td class="text"> <span></span>
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<td class="nump">$ 1,874,428<span></span>
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</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher SEC<br> -Name Rule 15c3-1<br> -Number 240<br> -Section 15c3-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of net capital of broker-dealer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher SEC<br> -Name Rule 15c3-1<br> -Number 240<br> -Section 15c3-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<div style="color: rgb(35, 31, 32); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Organization and Business
Description</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Morgan Group Holding Co. (the
“Company,” “Morgan Group,” or “Morgan”) was incorporated in November 2001 as a Delaware corporation to serve as a holding company which seeks acquisitions as part of its strategic alternatives. Prior to the October 31, 2019 merger with
G.research, LLC (“G.research”), discussed below, Morgan Group had no operating companies.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0);"><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company acquired
G.research from Associated Capital Group, Inc. (“AC”), an affiliate of the Company, on October 31, 2019, in exchange for issuing 500,000
shares of the Company’s common stock to AC (the “Merger”). Accordingly, G.research became a wholly owned subsidiary of the Company. Prior to the transaction, G.research was a wholly-owned subsidiary of Institutional Services holdings,
LLC, which, in turn, was a wholly-owned subsidiary of AC. After the transaction, AC had an 83.3% ownership interest in the
Company. As a result of this common ownership, the transaction was treated as a combination between entities under common control that led to a change in the reporting entity. The recognized assets and liabilities were transferred at
their carrying amounts at the date of the transaction.<br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">On March 16, 2020, AC’s Board of
Directors approved the spin-off of the Company to AC’s shareholders. Upon execution of the spin-off on August 5, 2020, AC distributed to its shareholders on a pro rata basis the 500,000 shares of Morgan that AC owned.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="color: rgb(0, 0, 0); text-align: justify; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">On May 5, 2020, the Morgan Group
board approved a reverse stock split of the issued and outstanding shares of their common stock, par value $0.01 per share, in
a ratio of 1-for-100 that was effective on June 10, 2020.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">G.research is a broker-dealer
registered with the Securities and Exchange Commission (the “SEC”) and is regulated by the Financial Industry Regulatory Authority (“FINRA”).</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">The Company provides institutional investors and investment partnerships with investment research with a particular focus on small-cap and mid-cap companies. The team of sell-side
analysts follows industry sectors on a global basis and performs fundamental security analysis using a Private Market Value (“PMV”) framework. PMV investing is a disciplined, research-driven approach based on security analysis. In this
process, the analyst selects stocks whose intrinsic value, based on the analyst’s estimate of current asset value and future growth and earnings power, is significantly different from the public market value as reflected in the public
market. PMV is defined as the price an informed industrial buyer would be likely to pay to acquire the business. The research focuses on company fundamentals, cash flow statistics, and catalysts that will help realize returns.</span> </div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company generates brokerage
commission revenues from securities transactions executed on an agency basis on behalf of institutional clients and mutual funds, private wealth management clients, and retail customers of affiliated companies. The Company generates
revenue from syndicated underwriting activities. It primarily participates in the offerings of certain closed-end funds advised by Gabelli Funds, LLC, a wholly-owned subsidiary of GAMCO Investors, Inc. (“GBL”), an affiliate. The Company
also earns investment income generated from its proprietary trading activities.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company acts as an introducing
broker, and all securities transactions for the Company and its customers are cleared through and carried by three New York
Stock Exchange (“NYSE”) member firms on a fully disclosed basis. The Company has Proprietary Accounts of Introducing Brokers (“PAIB”) agreements with these firms. Accordingly, open customer transactions are not reflected in the
accompanying Condensed Consolidated Statement of Financial Condition. The Company is exposed to credit losses on these open transactions in the event of nonperformance by its customers, pursuant to conditions of its clearing agreements
with its clearing brokers. This exposure is mitigated by the clearing brokers’ policy of monitoring the collateral and credit of the counterparties until the transaction is completed.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br/>
</span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s principal market is
in the United States (“U.S”).</div>
</us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock>
<mghl:OrganizationAndBusinessDescriptionPolicyTextBlock
contextRef="c20220101to20220630"
id="Text_13ba71aede664460aab9c42343e1d902">
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Morgan Group Holding Co. (the
“Company,” “Morgan Group,” or “Morgan”) was incorporated in November 2001 as a Delaware corporation to serve as a holding company which seeks acquisitions as part of its strategic alternatives. Prior to the October 31, 2019 merger with
G.research, LLC (“G.research”), discussed below, Morgan Group had no operating companies.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0);"><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company acquired
G.research from Associated Capital Group, Inc. (“AC”), an affiliate of the Company, on October 31, 2019, in exchange for issuing 500,000
shares of the Company’s common stock to AC (the “Merger”). Accordingly, G.research became a wholly owned subsidiary of the Company. Prior to the transaction, G.research was a wholly-owned subsidiary of Institutional Services holdings,
LLC, which, in turn, was a wholly-owned subsidiary of AC. After the transaction, AC had an 83.3% ownership interest in the
Company. As a result of this common ownership, the transaction was treated as a combination between entities under common control that led to a change in the reporting entity. The recognized assets and liabilities were transferred at
their carrying amounts at the date of the transaction.<br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">On March 16, 2020, AC’s Board of
Directors approved the spin-off of the Company to AC’s shareholders. Upon execution of the spin-off on August 5, 2020, AC distributed to its shareholders on a pro rata basis the 500,000 shares of Morgan that AC owned.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="color: rgb(0, 0, 0); text-align: justify; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">On May 5, 2020, the Morgan Group
board approved a reverse stock split of the issued and outstanding shares of their common stock, par value $0.01 per share, in
a ratio of 1-for-100 that was effective on June 10, 2020.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">G.research is a broker-dealer
registered with the Securities and Exchange Commission (the “SEC”) and is regulated by the Financial Industry Regulatory Authority (“FINRA”).</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">The Company provides institutional investors and investment partnerships with investment research with a particular focus on small-cap and mid-cap companies. The team of sell-side
analysts follows industry sectors on a global basis and performs fundamental security analysis using a Private Market Value (“PMV”) framework. PMV investing is a disciplined, research-driven approach based on security analysis. In this
process, the analyst selects stocks whose intrinsic value, based on the analyst’s estimate of current asset value and future growth and earnings power, is significantly different from the public market value as reflected in the public
market. PMV is defined as the price an informed industrial buyer would be likely to pay to acquire the business. The research focuses on company fundamentals, cash flow statistics, and catalysts that will help realize returns.</span> </div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company generates brokerage
commission revenues from securities transactions executed on an agency basis on behalf of institutional clients and mutual funds, private wealth management clients, and retail customers of affiliated companies. The Company generates
revenue from syndicated underwriting activities. It primarily participates in the offerings of certain closed-end funds advised by Gabelli Funds, LLC, a wholly-owned subsidiary of GAMCO Investors, Inc. (“GBL”), an affiliate. The Company
also earns investment income generated from its proprietary trading activities.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company acts as an introducing
broker, and all securities transactions for the Company and its customers are cleared through and carried by three New York
Stock Exchange (“NYSE”) member firms on a fully disclosed basis. The Company has Proprietary Accounts of Introducing Brokers (“PAIB”) agreements with these firms. Accordingly, open customer transactions are not reflected in the
accompanying Condensed Consolidated Statement of Financial Condition. The Company is exposed to credit losses on these open transactions in the event of nonperformance by its customers, pursuant to conditions of its clearing agreements
with its clearing brokers. This exposure is mitigated by the clearing brokers’ policy of monitoring the collateral and credit of the counterparties until the transaction is completed.</div>
<div><span style="background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br/>
</span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s principal market is
in the United States (“U.S”).</div>
</mghl:OrganizationAndBusinessDescriptionPolicyTextBlock>
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<us-gaap:SignificantAccountingPoliciesTextBlock
contextRef="c20220101to20220630"
id="Text_8b2e20061fc84204ac7f88c7745a5db5">
<div style="text-align: justify; color: rgb(35, 31, 32); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">1.
Significant Accounting Policies</div>
<div><br/>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;"><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Basis of Presentation</span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The unaudited interim condensed
consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Rule 10-01 of
Regulation S-X. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements
reflect all adjustments, which are of a normal recurring nature, necessary for the fair presentation of financial position, results of operations, and cash flows of Morgan for the interim periods presented and are not necessarily
indicative of a full year’s results.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify;"><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The interim condensed consolidated
financial statements include the accounts of the Company and its wholly-owned subsidiary, G.research. Intercompany accounts and transactions have been eliminated.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify;"><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">These interim condensed
consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in our annual report on Form 10-K for the year ended December 31, 2021.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Use of Estimates</div>
<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s financial statements are prepared in accordance with U.S.
GAAP, which requires management to make estimates and assumptions 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 that reporting period. Actual results could differ from those estimates.</div>
</us-gaap:SignificantAccountingPoliciesTextBlock>
<us-gaap:BasisOfAccountingPolicyPolicyTextBlock
contextRef="c20220101to20220630"
id="Text_8d9d94c8fe85421ea58db187745e9859">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;"><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Basis of Presentation</span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The unaudited interim condensed
consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Rule 10-01 of
Regulation S-X. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements
reflect all adjustments, which are of a normal recurring nature, necessary for the fair presentation of financial position, results of operations, and cash flows of Morgan for the interim periods presented and are not necessarily
indicative of a full year’s results.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify;"><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The interim condensed consolidated
financial statements include the accounts of the Company and its wholly-owned subsidiary, G.research. Intercompany accounts and transactions have been eliminated.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify;"><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">These interim condensed
consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in our annual report on Form 10-K for the year ended December 31, 2021.</div>
</us-gaap:BasisOfAccountingPolicyPolicyTextBlock>
<us-gaap:UseOfEstimates
contextRef="c20220101to20220630"
id="Text_458031b4ad1e433fa13ced9c70708842">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Use of Estimates</div>
<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s financial statements are prepared in accordance with U.S.
GAAP, which requires management to make estimates and assumptions 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 that reporting period. Actual results could differ from those estimates.</div>
</us-gaap:UseOfEstimates>
<us-gaap:RevenueFromContractWithCustomerTextBlock
contextRef="c20220101to20220630"
id="Text_c13d7efc0fd945f3907ce265d1d222b2">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2. Revenue
from Contracts with Customers</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company records revenue from
contracts with customers in accordance with Accounting Standards Codification Topic 606, <span style="font-style: italic;">Revenue from Contracts with Customers</span> (“Topic 606”). Under Topic 606, the Company must identify the
contract with a customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract, and recognize revenue when the Company
satisfies a performance obligation.</div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br/>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Significant judgments that
affect the amounts and timing of revenue recognition:</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s analysis of the
timing of revenue recognition of each revenue stream is based on the provisions of each respective contract. Performance obligations could, however, change from time to time if and when existing contracts are modified or new contracts
are entered into. These changes could potentially affect the timing of satisfaction of performance obligations, the determination of the transaction price, and the allocation of the price to performance obligations. In the case of the
revenue streams discussed below, the performance obligation is satisfied either at a point in time or over time. The judgments outlined below, where the determination as to these factors is discussed in detail, are continually reviewed
and monitored by the Company when new contracts or contract modifications occur. Transaction price is in all instances formulaic and not subject to significant (or any) judgment at the current time.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s assessment of the
recognition of these revenues is as follows:</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Revenue from contracts with
customers includes commissions, fees earned from affiliated entities pursuant to research services agreements, underwriting fees, and sales manager fees.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Commissions</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="text-decoration: underline;">Brokerage commissions</span>.
Acting as agent, the Company buys and sells securities on behalf of its customers. Commissions are charged on the execution of these securities transactions made on behalf of client accounts and are negotiated. The Company recognizes
commission revenue when the related securities transactions are executed on the trade date. The Company believes that the performance obligation is satisfied on the trade date because that is when the underlying financial instrument or
purchaser is identified, the pricing is agreed upon, and the risks and rewards of ownership have been transferred to/from the customer. Commissions earned are typically collected from the clearing brokers utilized by the Company on a
daily or weekly basis.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="text-decoration: underline;">Hard dollar payments</span>. The
Company provides research services to unrelated parties, for which direct payment is received. The company may, or may not, have contracts for such services. Where a contract for such services is in place, the contractual fee for the
period is recognized ratably over the contract period, which is considered the period over which the Company satisfies its performance obligation. For payments where no research contract exists, revenue is not recognized until agreement
is reached with the client at which time the performance obligation is considered to have been met and revenue is recognized.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Commission revenues are impacted
by the perceived value of the research product provided to clients, the volume of securities transactions, and the acquisition or loss of new client relationships.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Fees earned
from affiliated entities pursuant to research services agreements</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company receives direct
payments for research services provided to related parties pursuant to contracts. The contractual fee for the period is fixed and recognized ratably over the contract period, typically a calendar year, which is considered the period
over which the Company satisfies its performance obligation. Payments for contracts with affiliated parties are collected monthly.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br/>
</span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Underwriting
fees</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0);"><span style="text-decoration: underline;"><span style="font-style: italic; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Underwriting fees</span></span><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">. The
Company acts as underwriter in an agent capacity. Revenues are earned from fees arising from these offerings and the terms are set forth in contracts between the underwriters and the issuer. The Company’s underwriting revenue is
considered to be conditional revenue because it is subject to reduction to zero once the offsetting syndicate expenses have been quantified by the syndicate manager (i.e., lead underwriter) and allocated to each underwriter in
proportion to their participation in the offering. Revenue recognition is therefore delayed until it is probable that a significant reversal in the amount of revenue recognized will not occur. That is, it is recognized only when
uncertainty associated with the syndicate expenses is subsequently resolved and final settlement of syndicate accounts is affected by the syndicate manager. Payment is typically received from the syndicate manager within ninety days after settlement date.</span></div>
<div style="text-align: justify; color: rgb(0, 0, 0);"><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br/>
</span></div>
<div style="text-align: justify; color: rgb(0, 0, 0);"><span style="text-decoration: underline;"><span style="font-style: italic; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none; font-weight: normal;">Selling concessions</span></span><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">. The Company participates as a member of the selling group of underwritten equity offerings and receives compensation based on the difference between what its customers pay for the securities sold to its
institutional clients and what the issuer receives. The terms of the selling concessions are set forth in contracts between the Company and the underwriter. Revenue is recognized on the trade date (the date on which the Company
purchases the securities from the issuer) for the portion the Company is contracted to buy. The Company believes that the trade date is the appropriate point in time to recognize revenue for securities underwriting transactions as
there are no significant actions the Company needs to take subsequent to this date, and the issuer obtains the control and benefit of the capital markets offering at this point. Selling concessions earned are typically collected from
the clearing brokers utilized by the Company on a daily or weekly basis.</span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Sales manager
fees</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company participates as
sales manager of at-the-market offerings of certain affiliated closed-end funds and receives a tiered percentage of proceeds as stipulated in agreements between the Company, the funds and the funds’ investment adviser. The Company
recognizes sales manager fees upon sale of the related closed-end funds. Sales manager fees earned are fixed and typically collected from the clearing brokers utilized by the Company on a daily or weekly basis.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Revenue
Disaggregated</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
</div>
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: justify;">Total revenues from contracts
with customers by type were as follows for the three and six months ended June 30, 2022 and 2021:</div>
<div><br class="Apple-interchange-newline"/></div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;">
<tr>
<td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Three months ended June 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Six months ended June 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Commissions</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">420,521</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">492,898</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">880,516</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">1,084,146</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-indent: -9pt; margin-left: 9pt;">Hard dollar payments</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">29,143</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">73,538</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">72,887</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">137,898</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">449,664</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">566,436</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">953,403</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">1,222,044</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-indent: -9pt; margin-left: 9pt;">Underwriting fees</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">6,311</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">449,664</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">566,436</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">953,403</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">1,228,356</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
</us-gaap:RevenueFromContractWithCustomerTextBlock>
<mghl:UnderwriterPaymentReceivingMaximumPeriod
contextRef="c20220101to20220630"
id="Fact_21fd963b1f4140f9a4c5cf171ff3813a">P90D</mghl:UnderwriterPaymentReceivingMaximumPeriod>
<us-gaap:DisaggregationOfRevenueTableTextBlock
contextRef="c20220101to20220630"
id="Text_bf43fff699b748f9b67966d3eda41799">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
</div>
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: justify;">Total revenues from contracts
with customers by type were as follows for the three and six months ended June 30, 2022 and 2021:</div>
<div><br class="Apple-interchange-newline"/></div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;">
<tr>
<td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Three months ended June 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Six months ended June 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Commissions</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">420,521</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">492,898</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">880,516</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">1,084,146</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-indent: -9pt; margin-left: 9pt;">Hard dollar payments</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">29,143</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">73,538</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">72,887</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">137,898</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">449,664</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">566,436</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">953,403</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">1,222,044</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-indent: -9pt; margin-left: 9pt;">Underwriting fees</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">6,311</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">449,664</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">566,436</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">953,403</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">1,228,356</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
</us-gaap:DisaggregationOfRevenueTableTextBlock>
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<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">3. Related
Party Transactions</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div style="display:none;"><br/></div>
<div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify;">At June 30, 2022 and December 31, 2021, the Company had an investment of $2,468,951 and $2,859,939, respectively, in The Gabelli U.S. Treasury Money Market Fund advised by Gabelli Funds, LLC, which is an affiliate of the Company.
The amount is recorded in cash and cash equivalents in the Condensed Consolidated Statements of Financial Condition. Income earned from this investment totaled $3,213 and $8 for the three months ended June 30, 2022 and 2021,
respectively, and $3,422 and $125
for the six months ended June 30, 2022 and 2021, respectively, and is included in dividends and interest in the Condensed Consolidated Statements of Operations.</div>
<div style="display:none;"><br/></div>
<div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><br/>
</div>
<div style="display:none;"><br/></div>
<div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify;">For the three months ended June 30, 2022 and 2021, the Company earned $262,525 and $292,731 or approximately 58%
and 52%, respectively, of its commission revenue from transactions executed on behalf of funds advised by Gabelli Funds,
LLC. (“Gabelli Funds”) and private wealth management clients advised by GAMCO Asset Management Inc., (“GAMCO Asset”), each affiliates of the Company. For the six months ended June 30, 2022 and 2021, the Company earned $537,420 and $664,981 or
approximately 56% and 54%,
respectively, of its commission revenue from transactions executed on behalf of funds advised by Gabelli Funds and private wealth management clients advised by GAMCO Asset.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">AC has a sublease agreement with
GBL that expired on April 1, 2020 and continues on a month to month basis. AC allocates this expense to the Company based on the percentage of square footage occupied by the Company’s employees (including pro rata allocation of common
space). For the three months ended June 30, 2022 and 2021, the Company paid<span style="font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; text-align: justify; text-indent: 0px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;"> $14,110 and $26,111, respectively, under the sublease agreement. </span>For
the six months ended June 30, 2022 and 2021, the Company paid $28,764 and $52,242, respectively, under the sublease agreement. These amounts are included within occupancy and equipment expenses on the Condensed Consolidated Statements of
Operations.</div>
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<us-gaap:FairValueDisclosuresTextBlock
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<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">4. Fair Value</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The carrying amounts of all
financial instruments in the Condensed Consolidated Statements of Financial Condition approximate their fair values.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s financial
instruments have been categorized based upon a fair value hierarchy:</div>
<div><br/>
</div>
<table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 18pt;"><br/>
</td>
<td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">-</td>
<td style="width: auto; vertical-align: top;">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: justify;">Level
1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 1 assets include cash equivalents.</div>
</td>
</tr>
</table>
<table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 18pt;"><br/>
</td>
<td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">-</td>
<td style="width: auto; vertical-align: top;">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: justify;">Level
2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active
markets and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals.</div>
</td>
</tr>
</table>
<table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">
<tr>
<td style="width: 18pt;"><br/>
</td>
<td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">-</td>
<td style="width: auto; vertical-align: top;">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: justify;">Level
3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. These assets include infrequently traded common stocks.</div>
</td>
</tr>
</table>
<div><br/>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0);"><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The following tables present information about the Company’s assets and liabilities by major category measured at fair value on a recurring basis as of  June 30, 2022 and December 31, 2021 and indicates the fair
value hierarchy of the valuation techniques utilized by the Company to determine such fair value:</span><br/>
</div>
<div><br/>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Assets Measured
at Fair Value on a Recurring Basis as of June 30, 2022:</div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;"> <br/>
</div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">
<tr>
<td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div> </div>
<div> </div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Quoted Prices in Active<br/>
</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Markets for Identical</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets (Level 1)</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant Other</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Observable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 2)</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Unobservable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 3)</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Total</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">Cash equivalents</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,468,951</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,468,951</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 52%; padding-bottom: 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: bold;">Total assets at fair value</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,468,951<br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,468,951</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
<div><br/></div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">There were no transfers between
any levels during the six months ended June 30, 2022.</span></div>
<div> </div>
<div><span style="font-weight: bold;"><span style="background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Assets Measured at Fair Value on a
Recurring Basis as of December 31, 2021: </span></span></div>
<div style="color: rgb(0, 0, 0); font-weight: bold;"> <br/>
</div>
<table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">
<tr>
<td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div> </div>
<div> </div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Quoted Prices in Active<br/>
</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Markets for Identical</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets (Level 1)</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant Other</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Observable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 2)</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Unobservable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 3)</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Total</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">Cash equivalents</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,859,939</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,859,939</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 52%; padding-bottom: 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: bold;">Total assets at fair value</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,859,939</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,859,939</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
<div><br/>
</div>
<div style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">There were no transfers between
any levels during the year ended December 31, 2021.</div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Cash
equivalents primarily consist of an affiliated money market mutual fund which is invested solely in U.S. Treasuries and valued based on the net asset value of the fund.</div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="color: rgb(0, 0, 0); font-style: italic; background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Financial assets disclosed but not
carried at fair value</div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The carrying
value of other financial assets and liabilities approximates their fair value based on the short term nature of these items.</div>
</us-gaap:FairValueDisclosuresTextBlock>
<us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
contextRef="c20220101to20220630"
id="Text_de7eb0b0919944f0862e43b932cba324">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Assets Measured
at Fair Value on a Recurring Basis as of June 30, 2022:</div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;"> <br/>
</div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">
<tr>
<td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div> </div>
<div> </div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Quoted Prices in Active<br/>
</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Markets for Identical</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets (Level 1)</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant Other</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Observable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 2)</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Unobservable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 3)</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Total</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">Cash equivalents</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,468,951</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,468,951</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 52%; padding-bottom: 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: bold;">Total assets at fair value</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,468,951<br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,468,951</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
<div><br/></div>
<div><span style="font-weight: bold;"><span style="background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Assets Measured at Fair Value on a
Recurring Basis as of December 31, 2021: </span></span></div>
<div style="color: rgb(0, 0, 0); font-weight: bold;"> <br/>
</div>
<table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">
<tr>
<td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div> </div>
<div> </div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Quoted Prices in Active<br/>
</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Markets for Identical</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets (Level 1)</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant Other</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Observable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 2)</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Significant</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Unobservable</div>
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Inputs (Level 3)</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Total</div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">Cash equivalents</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,859,939</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,859,939</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 52%; padding-bottom: 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0); font-weight: bold;">Total assets at fair value</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,859,939</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">-</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">2,859,939</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
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<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">5. Retirement
Plan</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">The Company participates in Associated Capital’s incentive savings plan (the “Plan”), covering substantially all employees. Company contributions to the Plan are determined annually by
management of the Company and AC’s Board of Directors but may not exceed the amount permitted as a deductible expense under the Internal Revenue Code. Amounts expensed for allocated contributions to this Plan amounted to approximately $0 as contributions to the plan are expected to be immaterial for the six months ended June 30, 2022. Contributions for the six months ended
June 30, 2021 resulted in a credit of ($10,666) as reductions in headcount. Contributions and adjustments thereto were
recorded as compensation and related costs in the Statement of Operations.</span> </div>
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<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">6. Income Taxes</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: justify;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">The effective tax rate (“ETR”) for the three months ended June 30, 2022 and 2021 was 0.0%
and 0.0%, respectively, and the ETR for the six months ended June 30, 2022 and 2021 was 0.0% and 0.0%,
respectively. The ETR differs from the U.S. corporate rate of 21% for all periods due to state taxes and a valuation
allowance recorded on the deferred tax assets, mainly net operating loss carryforwards.</span> </div>
</us-gaap:IncomeTaxDisclosureTextBlock>
<us-gaap:EffectiveIncomeTaxRateContinuingOperations
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<us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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<us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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<us-gaap:EarningsPerShareTextBlock
contextRef="c20220101to20220630"
id="Text_c9ba9538213243de9d100cf0268327c5">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">7. Earnings
per Share</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Basic earnings per share is
computed by dividing net income / (loss) attributable to shareholders by the weighted average number of shares outstanding during the period. There were no dilutive shares outstanding during the periods.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The computations of basic and
diluted net loss per share are as follows:</div>
<div><br class="Apple-interchange-newline"/></div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: &amp;amp; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;">
<tr>
<td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: top; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Three
Months Ended June 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: top; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Six Months Ended June 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Basic and diluted:</div>
</td>
<td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Net loss attributable
to shareholders</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(351,332</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(720,895</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(698,445</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(1,283,290</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Weighted average
shares outstanding</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">600,090</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">600,090</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">600,090</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">600,090</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Basic and diluted net
loss per share</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(0.59</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(1.20</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(1.16</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(2.14</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
</tr>
</table>
</us-gaap:EarningsPerShareTextBlock>
<us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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<us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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<us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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id="Fact_bdf74d861d1b4f5197f6eca7fdd1966a"
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<us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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id="Fact_85804df43a5d4404b1ccbe426207a5c8"
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<us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
contextRef="c20220101to20220630"
id="Text_788da29836dd42d6b3d1b9a61c49bdcf">
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
</div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The computations of basic and
diluted net loss per share are as follows:</div>
<div><br class="Apple-interchange-newline"/></div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: &amp;amp; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;">
<tr>
<td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: top; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Three
Months Ended June 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: top; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Six Months Ended June 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2021</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Basic and diluted:</div>
</td>
<td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: top;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Net loss attributable
to shareholders</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(351,332</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(720,895</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(698,445</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(1,283,290</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Weighted average
shares outstanding</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">600,090</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">600,090</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">600,090</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">600,090</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Basic and diluted net
loss per share</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(0.59</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(1.20</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(1.16</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0);">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom">
<div style="color: rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">(2.14</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="color: rgb(0, 0, 0);">)</div>
</td>
</tr>
</table>
</us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock>
<us-gaap:NetIncomeLoss
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<us-gaap:NetIncomeLoss
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<us-gaap:NetIncomeLoss
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<us-gaap:NetIncomeLoss
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<us-gaap:WeightedAverageNumberOfSharesOutstandingBasic
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<us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding
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<us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding
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<us-gaap:WeightedAverageNumberOfSharesOutstandingBasic
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<us-gaap:WeightedAverageNumberOfSharesOutstandingBasic
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<us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding
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id="Fact_69ee545ef1264877bcc9d9b659d8055c"
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<us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding
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id="Fact_fcf7cd417527433da96bea3142c569f8"
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<us-gaap:WeightedAverageNumberOfSharesOutstandingBasic
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<us-gaap:EarningsPerShareDiluted
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<us-gaap:EarningsPerShareBasic
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<us-gaap:EarningsPerShareDiluted
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<us-gaap:EarningsPerShareBasic
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<us-gaap:EarningsPerShareBasic
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<us-gaap:EarningsPerShareDiluted
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<us-gaap:EarningsPerShareDiluted
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<us-gaap:EarningsPerShareBasic
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decimals="2"
id="Fact_1d24ff156a214d1199cb11a68d6caa8d"
unitRef="U003">-2.14</us-gaap:EarningsPerShareBasic>
<us-gaap:StockholdersEquityNoteDisclosureTextBlock
contextRef="c20220101to20220630"
id="Text_876023d233e34c1aaf26d50905a7e2cb">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">8. Equity</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">In conjunction with the Merger on
October 31, 2019, the Company issued 50,000,000 shares of common stock to AC. The common stock, additional paid in capital,
earnings per share, and accumulated deficit amounts in these consolidated financial statements for the period prior to the Merger have been restated to reflect the recapitalization in accordance with the shares issued as a result of the
Merger.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br/>
</span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">See the Organization and Business
Description Note above for detail.</div>
</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
<us-gaap:StockIssuedDuringPeriodSharesAcquisitions
contextRef="c20191031to20191031_CounterpartyNameAxis_AssociatedCapitalGroupMember"
decimals="0"
id="Fact_33a5b7319bcb411d853d0aadf3500bea"
unitRef="U001">50000000</us-gaap:StockIssuedDuringPeriodSharesAcquisitions>
<us-gaap:CommitmentsContingenciesAndGuaranteesTextBlock
contextRef="c20220101to20220630"
id="Text_d69e2c725c1649d4804c60080fc85f8c">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">9. Guarantees,
Contingencies, and Commitments</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company has agreed to
indemnify its clearing brokers for losses they may sustain from the customer accounts that trade on margin introduced by the Company. At June 30, 2022 and December 31, 2021, the total amount of customer balances subject to indemnification
(i.e., unsecured margin debits) was immaterial. The Company also has entered into arrangements with various other third parties, many of which provide for indemnification of the third parties against losses, costs, claims, and liabilities
arising from the performance of the Company’s obligations under the agreements. The Company has had no claims or payments pursuant to these or prior agreements, and management believes the likelihood of a claim being made is remote, and
therefore, an accrual has not been made in the consolidated financial statements.</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">From time to time, the Company is
named in legal actions and proceedings. These actions may seek substantial or indeterminate compensatory as well as punitive damages or injunctive relief. The Company is also subject to governmental or regulatory examinations or
investigations. The examinations or investigations could result in adverse judgments, settlements, fines, injunctions, restitutions, or other relief. The Company cannot predict the ultimate outcome of such matters. The consolidated
financial statements include the necessary provisions for losses that the Company believes are probable and estimable, if any. Furthermore, the Company evaluates whether losses exist which may be reasonably possible and, if material,
makes the necessary disclosures. Such amounts, both those that are probable and those that are reasonably possible, are not considered material to the Company’s financial condition, operations, or cash flows.</div>
</us-gaap:CommitmentsContingenciesAndGuaranteesTextBlock>
<mghl:BrokerDealerNetCapitalRequirementTextBlock
contextRef="c20220101to20220630"
id="Text_96515b86959549008d43d80f20b83a27">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">10. Net Capital
Requirements</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">As a registered broker-dealer,
G.research is subject to the SEC Uniform Net Capital Rule 15c3-1 (the “Rule”), which specifies, among other requirements, minimum net capital requirements for registered broker-dealers. G.research computes its net capital under the
alternative method as permitted by the Rule, which requires that minimum net capital be the greater of $250,000 or 2% of the aggregate debit items in the reserve formula for those broker-dealers subject to Rule 15c3-3. G.research is
exempt from Rule 15c3-3 pursuant to paragraph (k)(2)(ii) of that rule which exempts all customer transactions cleared through another broker-dealer on a fully disclosed basis. In addition, our assets at the clearing broker-dealer are
treated as allowable assets for net capital purposes as we have in place PAIB agreements pursuant to Rule 15c3-3. These requirements also provide that equity capital may not be withdrawn, advances to affiliates may not be made, or cash
dividends paid if certain minimum net capital requirements are not met. G.research had net capital, as defined, of $1,848,638
and $1,874,428 exceeding the required amount of $250,000 by $1,598,638 and $1,624,428 June 30, 2022 and December 31,
2021, respectively.</div>
</mghl:BrokerDealerNetCapitalRequirementTextBlock>
<srt:NetCapital
contextRef="c20220630_BusinessAcquisitionAxis_GResearchLLCMember"
decimals="0"
id="Fact_2cc4790368474ff1a5a97cd7764f6d22"
unitRef="U002">1848638</srt:NetCapital>
<srt:NetCapital
contextRef="c20211231_BusinessAcquisitionAxis_GResearchLLCMember"
decimals="0"
id="Fact_04946105a98146ad8af38c2550c742b0"
unitRef="U002">1874428</srt:NetCapital>
<srt:AlternativeExcessNetCapital
contextRef="c20220630_BusinessAcquisitionAxis_GResearchLLCMember"
decimals="0"
id="Fact_2627b2148f3f4b13a6ec7dce18fca388"
unitRef="U002">1598638</srt:AlternativeExcessNetCapital>
<srt:AlternativeExcessNetCapital
contextRef="c20211231_BusinessAcquisitionAxis_GResearchLLCMember"
decimals="0"
id="Fact_b84dec8c505d4d8c93cd9199a1e4e867"
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<us-gaap:SubsequentEventsTextBlock
contextRef="c20220101to20220630"
id="Text_9241bdf9b35c4358aaed105452a93fa3">
<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">11. Subsequent
Events</div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: justify; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company has evaluated
subsequent events for adjustment to or disclosure through August 15, 2022, the date of this report and the Company has not identified any subsequent events not otherwise reported in these financial statements or the notes thereto, that
required recognition or additional disclosures in the financial statements.</div>
</us-gaap:SubsequentEventsTextBlock>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>46
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
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<DOCUMENT>
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<SEQUENCE>47
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
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/* Updated 2009-11-04 */
/* v2.2.0.24 */
/* DefRef Styles */
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background-color: #def;
border: 2px solid #2F4497;
font-size: 1em;
position: absolute;
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display: block;
font-weight: bold;
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..report table.authRefData p {
margin-top: 0px;
}
..report table.authRefData .hide {
background-color: #2F4497;
padding: 1px 3px 0px 0px;
text-align: right;
}
..report table.authRefData .hide a:hover {
background-color: #2F4497;
}
..report table.authRefData .body {
height: 150px;
overflow: auto;
width: 400px;
}
..report table.authRefData table{
font-size: 1em;
}
/* Report Styles */
..pl a, .pl a:visited {
color: black;
text-decoration: none;
}
/* table */
..report {
background-color: white;
border: 2px solid #acf;
clear: both;
color: black;
font: normal 8pt Helvetica, Arial, san-serif;
margin-bottom: 2em;
}
..report hr {
border: 1px solid #acf;
}
/* Top labels */
..report th {
background-color: #acf;
color: black;
font-weight: bold;
text-align: center;
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..report th.void {
background-color: transparent;
color: #000000;
font: bold 10pt Helvetica, Arial, san-serif;
text-align: left;
}
..report .pl {
text-align: left;
vertical-align: top;
white-space: normal;
width: 200px;
white-space: normal; /* word-wrap: break-word; */
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cursor: pointer;
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width: 200px;
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width: 200px;
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background-color: #ffc;
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/* Header rows... */
..report tr.rh {
background-color: #acf;
color: black;
font-weight: bold;
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/* Calendars... */
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background-color: #f0f0f0;
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background-color: #def;
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border-bottom: 0px solid black;
}
/* styles for footnote marker */
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white-space: nowrap;
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>