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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue        
Commissions and fees $ 1,986,000 $ 1,750,000 $ 5,839,000 $ 5,943,000
Interest, marketing and distribution fees 7,194,000 5,204,000 21,583,000 10,717,000
Principal transactions and proprietary trading 3,753,000 953,000 9,207,000 1,767,000
Market making 223,000 723,000 836,000 2,022,000
Stock borrow / stock loan 4,008,000 4,183,000 11,963,000 11,909,000
Advisory fees 506,000 437,000 1,421,000 1,420,000
Other income 380,000 1,086,000 963,000 2,589,000
Total Revenue 18,050,000 14,336,000 51,812,000 36,367,000
Expenses        
Employee compensation and benefits 8,723,000 7,290,000 23,770,000 21,752,000
Clearing fees, including execution costs 581,000 398,000 1,265,000 1,267,000
Technology and communications 827,000 1,214,000 2,409,000 3,374,000
Other general and administrative 1,108,000 1,072,000 3,320,000 2,939,000
Data processing 725,000 932,000 2,317,000 2,135,000
Rent and occupancy 467,000 562,000 1,436,000 1,491,000
Professional fees 979,000 874,000 3,060,000 2,602,000
Depreciation and amortization 265,000 240,000 716,000 760,000
Interest expense 40,000 108,000 222,000 335,000
Advertising and promotion 62,000 58,000 52,000 230,000
Total Expenses 13,777,000 12,748,000 38,567,000 36,885,000
Operating income (loss) 4,273,000 1,588,000 13,245,000 (518,000)
Impairment of investments (1,035,000)
Earnings of (loss from) equity method investment in related party (148,000) 111,000 67,000
Non-operating income (loss) (148,000) (924,000) 67,000
Income (loss) before provision for (benefit from) income taxes 4,273,000 1,440,000 12,321,000 (451,000)
Provision for (benefit from) income taxes 1,516,000 473,000 3,621,000 (836,000)
Net income 2,757,000 967,000 8,700,000 385,000
Less net income (loss) attributable to noncontrolling interests (4,000) (85,000) 40,000 (405,000)
Net income available to common stockholders $ 2,761,000 $ 1,052,000 $ 8,660,000 $ 790,000
Net income available to common stockholders per share of common stock        
Basic (in Dollars per share) $ 0.07 $ 0.03 $ 0.24 $ 0.02
Weighted average shares outstanding        
Weighted average shares outstanding, Basic (in Shares) 39,678,762 32,403,235 36,224,313 32,419,398