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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Revenue    
Margin interest, marketing and distribution fees $ 11,121,000 $ 10,928,000
Commissions and fees 8,302,000 9,504,000
Principal transactions 8,061,000 9,020,000
Advisory fees 801,000 478,000
Interest and other income 308,000 106,000
Total revenue 28,593,000 30,036,000
Expenses    
Employee compensation and benefits 12,946,000 13,817,000
Clearing fees, including execution costs 2,793,000 2,852,000
Other general and administrative 2,454,000 1,859,000
Professional fees 1,912,000 1,963,000
Rent and occupancy 1,401,000 988,000
Technology and communications 1,215,000 1,008,000
Depreciation and amortization 983,000 144,000
Referral fees 86,000
Interest expense 10,000
Advertising and promotion 2,000 45,000
Total expenses 23,802,000 22,676,000
Loss from equity method investment in related party (66,000)
Income before provision (benefit) for (from) income taxes 4,725,000 7,360,000
Provision (benefit) for (from) income taxes 1,118,000 (4,602,000)
Net income $ 3,607,000 $ 11,962,000
Net income per share of common stock Basic and diluted $ 0.13 $ 0.44
Weighted average shares outstanding Basic and diluted 27,157,188 27,157,188