Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

Acquisitions Abstract

Schedule of Allocation of Purchase Price

The following table summarizes the Company’s allocation of the purchase price as of the date of acquisition:

Purchase Price Allocation	Estimated Fair Value
Cash and cash equivalents	$	301,000
Cash segregated under federal regulations		152,000
Receivables from clearing broker dealers		4,616,000
Furniture, equipment and leasehold improvements, net		41,000
Software, net		51,000
Intangible assets, net		1,057,000
Lease right-of-use assets		214,000
Other assets		271,000
Total Assets acquired		6,703,000
Accounts payable and accrued liabilities		1,353,000
Lease liabilities		214,000
Total Liabilities acquired		1,567,000
Net Assets acquired		5,136,000
Goodwill		1,989,000
Purchase price	$	7,125,000

Schedule of Revenues and Net Income from Continuing Operations

The following table summarizes the revenue and net income from continuing operations of Weeden Prime included in the Company’s statement of income for the year ending December 31, 2019 since the date of acquisition (for the 31-day period ending December 31, 2019):

Weeden Prime
Revenue	$	968,000
Net income from continuing operations	$	203,000

Schedule of Pro Forma Consolidated Information

The following pro forma summary presents consolidated statements of income of the Company as if the acquisition of Weeden Prime had occurred on January 1, 2018, inclusive of pro forma adjustments (unaudited):

	Year Ended December 31,
	2019		2018
Revenue	$	39,746,000	$	42,987,000
Net income	$	2,485,000	$	11,102,000