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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue        
Commissions and fees $ 1,952,000 $ 1,853,000 $ 3,853,000 $ 4,193,000
Interest, marketing and distribution fees 7,416,000 3,151,000 14,389,000 5,513,000
Principal transactions and proprietary trading 2,654,000 1,081,000 5,454,000 814,000
Market making 268,000 535,000 613,000 1,299,000
Stock borrow / stock loan 4,513,000 4,148,000 7,955,000 7,726,000
Advisory fees 471,000 476,000 915,000 983,000
Other income 318,000 479,000 583,000 1,503,000
Total Revenue 17,592,000 11,723,000 33,762,000 22,031,000
Expenses        
Employee compensation and benefits 8,080,000 7,368,000 15,047,000 14,462,000
Clearing fees, including execution costs 329,000 375,000 684,000 869,000
Technology and communications 793,000 978,000 1,582,000 2,160,000
Other general and administrative 1,119,000 935,000 2,212,000 1,866,000
Data processing 741,000 687,000 1,592,000 1,203,000
Rent and occupancy 491,000 456,000 969,000 929,000
Professional fees 1,007,000 1,032,000 2,081,000 1,728,000
Depreciation and amortization 261,000 261,000 451,000 520,000
Interest expense 94,000 103,000 182,000 227,000
Advertising and promotion 18,000 59,000 (10,000) 172,000
Total Expenses 12,933,000 12,254,000 24,790,000 24,136,000
Operating income (loss) 4,659,000 (531,000) 8,972,000 (2,105,000)
Impairment of investments (1,035,000) (1,035,000)
Earnings of equity method investment in related party 73,000 14,000 111,000 215,000
Non-operating income (loss) (962,000) 14,000 (924,000) 215,000
Income (loss) before provision for (benefit from) income taxes 3,697,000 (517,000) 8,048,000 (1,890,000)
Provision for (benefit from) income taxes 969,000 (1,027,000) 2,105,000 (1,309,000)
Net income (loss) 2,728,000 510,000 5,943,000 (581,000)
Less net income (loss) attributable to noncontrolling interests 25,000 (201,000) 44,000 (320,000)
Net income (loss) available to common stockholders $ 2,703,000 $ 711,000 $ 5,899,000 $ (261,000)
Net income (loss) available to common stockholders per share of common stock        
Basic (in Dollars per share) $ 0.07 $ 0.02 $ 0.17 $ (0.01)
Weighted average shares outstanding        
Basic (in Shares) 36,410,018 32,403,235 34,468,460 32,403,235