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11. Results of former affiliate
 9 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
10. Results of former affiliate:

Summarized financial data of Siebert Cisneros Shank, LLC (“SCSF”) follows:

 

    September 30,
2015		  
         
Nine months ended:        
Total revenues     24,291,000  
Net income     1,607,000  
Three months ended:        
Total revenues     10,322,000  
Net income (loss)     1,114,000  

 

Siebert’s share of SCSF’s consolidated net income for the three and nine months ended September 30, 2015, respectively amounted to $545,000 and $788,000.

 

Siebert charged SCS $0 for the three months ended September 30, 2016 and $25,000 for the three months ended September 30, 2015, and $23,000 for the nine months ended September 30, 2016 and $75,000 for the nine months ended September 30, 2015, respectively, for general and administrative services, which Siebert believes approximates the cost of furnishing such services.

 

Siebert did not make any advances to SCSF during the nine month period ended September 30, 2016. Siebert made collections of $79,000, net of advances from SCS, during the nine months ended September 30, 2015. As of September 30, 2015, Siebert had a receivable of approximately $26,000 due from SCS. Siebert received a distribution from SCSF of $98,000 during the nine months ended September 30, 2015.