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Consolidated Balance Sheets - USD ($)
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and cash equivalents $ 23,449,563 $ 46,991,879
Investments 153,997,045 147,738,862
Accounts receivable 19,046,218 18,051,241
Prepaid expenses 3,091,514 3,509,460
Income taxes receivable 1,291,205 1,620,864
Property and equipment, net of depreciation 1,843,193 2,591,604
Deferred taxes 10,332,525 11,590,438
Total assets 213,051,263 232,094,348
Liabilities    
Accounts payable and accrued expenses 5,274,101 6,190,370
Accrued incentive compensation 14,566,153 29,500,000
Deferred compensation 36,674,694 36,087,170
Total liabilities 56,514,948 71,777,540
Permanent shareholders’ equity    
Common shares, no par value: 7,000,000 shares authorized; 2,751,331 issued and outstanding at June 30, 2024 (inclusive of 192,694 unvested shares); 2,823,076 issued and outstanding at December 31, 2023 (inclusive of 190,172 unvested shares) 10,916,078 22,164,410
Preferred shares, undesignated, 1,000,000 shares authorized and unissued 0 0
Deferred equity compensation (20,686,099) (15,392,418)
Retained earnings 166,306,336 153,544,816
Total permanent shareholders’ equity 156,536,315 160,316,808
Total liabilities and shareholders’ equity $ 213,051,263 $ 232,094,348