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v3.25.2

Revenues | 6 Months Ended
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Jun. 30, 2025
Revenues [Abstract] |
REVENUES | NOTE 12 — REVENUES The following tables present a breakdown of our revenue categories presented within our condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2025 and 2024.
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Equity and Option Order Flow Income: |  |  |  |  |  |  |  |  |  |  |  |
Option order flow rebates |  | $ | 49,065,412 |  |  | $ | 30,257,156 |  |  | $ | 94,339,846 |  |  | $ | 60,145,364 |
Equity order flow rebates |  |  | 19,623,426 |  |  |  | 13,059,779 |  |  |  | 38,460,174 |  |  |  | 27,083,688 |
Total |  | $ | 68,688,838 |  |  | $ | 43,316,935 |  |  | $ | 132,800,020 |  |  | $ | 87,229,052 |
Interest and Other Related Income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock lending |  | $ | 7,637,688 |  |  | $ | 7,792,949 |  |  | $ | 13,042,625 |  |  | $ | 13,476,129 |
Margin financing |  |  | 8,617,766 |  |  |  | 7,022,208 |  |  |  | 17,519,653 |  |  |  | 14,409,646 |
Client bank deposits |  |  | 17,936,187 |  |  |  | 13,558,841 |  |  |  | 32,553,378 |  |  |  | 29,462,459 |
Corporate bank deposits |  |  | 2,094,892 |  |  |  | 3,524,793 |  |  |  | 4,310,941 |  |  |  | 7,048,186 |
Total |  | $ | 36,286,533 |  |  | $ | 31,898,791 |  |  | $ | 67,426,597 |  |  | $ | 64,396,420 |
Handling Charge Income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options |  |  | 7,104,325 |  |  | $ | 6,456,829 |  |  | $ | 15,479,547 |  |  | $ | 13,824,124 |
Platform and trading fees |  |  | 13,001,178 |  |  |  | 3,908,597 |  |  |  | 22,172,966 |  |  |  | 6,245,811 |
Total |  | $ | 20,105,503 |  |  | $ | 10,365,426 |  |  | $ | 37,652,513 |  |  | $ | 20,069,935 |
Other Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Data subscription income |  |  | 2,037,609 |  |  | $ | 1,772,544 |  |  | $ | 4,021,956 |  |  | $ | 3,387,901 |
Co-marketing income |  |  | – |  |  |  | 56,243 |  |  |  | – |  |  |  | 187,530 |
Syndicate fees |  |  | 112,454 |  |  |  | 238,746 |  |  |  | 403,475 |  |  |  | 386,268 |
Lease income |  |  | 301,669 |  |  |  | 283,895 |  |  |  | 604,397 |  |  |  | 567,831 |
Foreign exchange fee |  |  | 737,002 |  |  |  | 256,381 |  |  |  | 1,314,638 |  |  |  | 417,236 |
Non-trading rebates |  |  | 1,151,208 |  |  |  | – |  |  |  | 1,869,991 |  |  |  | – |
Proxy income |  |  | 2,048,315 |  |  |  | 1,692,805 |  |  |  | 2,694,888 |  |  |  | 2,121,748 |
Other |  |  | 24,219 |  |  |  | 14,122 |  |  |  | 73,710 |  |  |  | 67,687 |
Total |  | $ | 6,412,476 |  |  | $ | 4,314,736 |  |  | $ | 10,983,055 |  |  | $ | 7,136,201 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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