XML 12 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue        
Commissions and fees $ 1,853,000 $ 4,325,000 $ 4,193,000 $ 11,333,000
Interest, marketing and distribution fees 3,151,000 3,623,000 5,513,000 7,082,000
Principal transactions and proprietary trading 1,081,000 4,107,000 814,000 8,355,000
Market making 535,000 1,758,000 1,299,000 3,372,000
Stock borrow / stock loan 4,148,000 2,240,000 7,726,000 4,087,000
Advisory fees 476,000 403,000 983,000 759,000
Other income 479,000 337,000 1,503,000 729,000
Total Revenue 11,723,000 16,793,000 22,031,000 35,717,000
Expenses        
Employee compensation and benefits 7,368,000 8,745,000 14,462,000 17,911,000
Clearing fees, including execution costs 375,000 1,289,000 869,000 3,142,000
Technology and communications 978,000 1,100,000 2,160,000 2,341,000
Other general and administrative 935,000 1,188,000 1,866,000 1,958,000
Data processing 687,000 695,000 1,203,000 1,492,000
Rent and occupancy 456,000 470,000 929,000 1,040,000
Professional fees 1,032,000 577,000 1,728,000 1,192,000
Depreciation and amortization 261,000 374,000 520,000 766,000
Referral fees 353,000 760,000
Interest expense 103,000 89,000 227,000 192,000
Advertising and promotion 59,000 172,000
Total Expenses 12,254,000 14,880,000 24,136,000 30,794,000
Earnings of equity method investments in related parties 14,000 215,000
Income (loss) before provision for (benefit from) income taxes (517,000) 1,913,000 (1,890,000) 4,923,000
Provision for (benefit from) income taxes (1,027,000) 484,000 (1,309,000) 1,219,000
Net income (loss) 510,000 1,429,000 (581,000) 3,704,000
Less net loss attributable to noncontrolling interests (201,000) (320,000)
Net income (loss) available to common stockholders $ 711,000 $ 1,429,000 $ (261,000) $ 3,704,000
Net income (loss) available to common stockholders per share of common stock Basic and diluted $ 0.02 $ 0.05 $ (0.01) $ 0.12
Weighted average shares outstanding Basic and diluted 32,403,235 31,283,364 32,403,235 31,228,725