<SEC-DOCUMENT>0001157523-18-002432.txt : 20181114
<SEC-HEADER>0001157523-18-002432.hdr.sgml : 20181114
<ACCEPTANCE-DATETIME>20181114153145
ACCESSION NUMBER:		0001157523-18-002432
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		46
CONFORMED PERIOD OF REPORT:	20180930
FILED AS OF DATE:		20181114
DATE AS OF CHANGE:		20181114

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SIEBERT FINANCIAL CORP
		CENTRAL INDEX KEY:			0000065596
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				111796714
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-05703
		FILM NUMBER:		181183189

	BUSINESS ADDRESS:	
		STREET 1:		120 WALL STREET
		STREET 2:		25TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10005
		BUSINESS PHONE:		212-644-2400

	MAIL ADDRESS:	
		STREET 1:		120 WALL STREET
		STREET 2:		25TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10005

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MICHAELS J INC
		DATE OF NAME CHANGE:	19950221
</SEC-HEADER>
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<DESCRIPTION>SIEBERT FINANCIAL CORP. 10-Q
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</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 18pt">SECURITIES AND EXCHANGE COMMISSION</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><br>
</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">WASHINGTON, DC 20549</font></div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">FORM 10-Q</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(Mark One)</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">For the quarterly period ended</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">September 30, 2018</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">OR&#160;</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">For the transition period from ____________________________ to __________________________</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">0-5703</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Siebert Financial Corp.</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(Exact Name of Registrant as Specified in its Charter)</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">New York</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">11-1796714</div>
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 Organization)</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">120 Wall Street, New York, NY 10005</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(Address of Principal Executive Offices) (Zip Code)</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(212) 644-2400</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)</div>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 (&#8220;Exchange Act&#8221;) during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Yes <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9746;</font> No <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (&#167;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Yes <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9746;</font> No <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company,&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Large accelerated filer <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font></div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Accelerated filer <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font></div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Non-accelerated filer <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font></div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Smaller reporting company <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9746;</font></div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Emerging growth company <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font></div>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Yes <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font> No <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9746;</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Indicate the number of shares outstanding of each of the issuer&#8217;s classes of common equity, as of the latest practicable date: As of November 14, 2018, there were 27,157,188 shares of our common stock, par value $.01 per share outstanding.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Unless expressly otherwise indicated or the context requires otherwise, the terms &#8220;Siebert,&#8221; &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; and &#8220;our&#8221; in this document refer to Siebert Financial Corp., a New York corporation, and its wholly-owned subsidiaries. The term &#8220;MSCO&#8221; shall refer to Muriel Siebert &amp; Co., Inc., a Delaware corporation and registered broker-dealer, the term &#8220;NXT&#8221; shall refer to Siebert AdvisorNXT, Inc., a New York corporation registered with the Securities and Exchange Commission (&#8220;SEC&#8221;) as a Registered Investment Advisor, the term &#8220;PWC&#8221; shall refer to Park Wilshire Companies Inc., a Texas corporation and licensed insurance agency, and the term &#8220;KCAT&#8221; shall refer to KCA Technologies, LLC, a Nevada limited liability company and owner of certain intellectual property and related computer software for optimizing investment portfolios (&#8220;robo technology&#8221;). MSCO, NXT, PWC, and KCAT are wholly-owned subsidiaries of the Company.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Special Note Regarding Forward-Looking Statements</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Certain statements contained in &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221; below and elsewhere in this report, as well as oral statements that may be made by us or by our officers, directors or employees acting on our behalf, that are not statements of historical or current fact constitute &#8220;forward-looking statements&#8221; within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and known and unknown factors that could cause our actual results to be materially different from our historical results or from any future results expressed or implied by such forward-looking statements, including, without limitation: changes in general economic and market conditions; changes and prospects for changes in interest rates; fluctuations in volume and prices of securities; changes in demand for brokerage services; competition from brokerage or other financial institutions, including the offer of broader services; competition from electronic discount brokerage firms offering greater discounts on commissions than we offer; the prevalence of a flat fee environment; our customers&#8217; methods of placing trades; computer and telephone system failures; our level of spending on advertising and promotion; trading errors and the possibility of losses from customer non-payment of amounts due; other increases in expenses; and changes in net capital or other regulatory requirements. We undertake no obligation to publicly release the results of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date when such statements were made, or to reflect the occurrence of unanticipated events. An investment in Siebert involves various risks, including those mentioned above and those which are detailed from time to time in our SEC filings.</div>

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</div>
</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Part I - FINANCIAL INFORMATION</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 1. Financial Statements</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Siebert Financial Corp. &amp; Subsidiaries</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Condensed Consolidated Statements of Financial Condition</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="z419e2f7b6c4b4f4d8ab42482925d813f" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">September 30, 2018</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31, 2017</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(unaudited)</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">ASSETS</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Cash and cash equivalents</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">7,341,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">3,765,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Receivables from brokers</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,177,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,396,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Deferred tax asset</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,393,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Receivable from related party</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,000,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">283,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Software</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">678,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Furniture, equipment and leasehold improvements, net</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">528,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">347,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Prepaid expenses and other assets</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">376,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">234,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Securities owned, at fair value</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">13,493,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">6,025,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">LIABILITIES AND STOCKHOLDERS&#8217; EQUITY</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Liabilities:</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Income taxes payable</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">908,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">125,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Accounts payable and accrued liabilities</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">761,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">561,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Due to related party</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">127,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,669,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">813,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Commitments and Contingencies</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Stockholders&#8217; equity:</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Common stock, $.01 par value; 49,000,0000 shares authorized, 27,157,188&#160;shares issued and outstanding as of September 30, 2018 and December 31, 2017</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">271,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">271,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Additional paid-in capital</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">7,641,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">7,641,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Retained earnings/(Accumulated deficit)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">3,912,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(2,700,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM-COLOR: ; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM-COLOR: ; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">11,824,000</div>
</td>
<td style="BORDER-BOTTOM-COLOR: ; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM-COLOR: ; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM-COLOR: ; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM-COLOR: ; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">5,212,000</div>
</td>
<td style="BORDER-BOTTOM-COLOR: ; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM-COLOR: ; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">13,493,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">6,025,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div>&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">See notes to condensed consolidated financial statements.<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">2</font></div>

<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Siebert Financial Corp. &amp; Subsidiaries</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><br>
</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Condensed Consolidated Statements of Operations</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><br>
</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(unaudited)</font>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="z7b149bcd881d48d9bcc0ac2a39cf0b0d" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="6">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Three Months Ended</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">September 30,</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="6">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nine Months Ended</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">September 30,</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2018&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2017&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2018&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2017&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Revenue:</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Margin interest, marketing and distribution fees</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,731,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,850,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">7,953,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">4,477,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Principal transactions</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,634,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">154,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">7,838,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">360,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Commissions and fees</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,465,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,077,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">7,651,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">3,295,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Interest</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">34,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">4,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">69,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">9,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Advisory fees</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">20,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">4,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">38,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">16,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Total Revenue</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">7,884,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">3,089,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">23,549,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">8,157,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Expenses:</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Employee compensation and benefits</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">3,668,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,031,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">10,619,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">3,069,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Other general and administrative</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">650,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">275,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,874,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,020,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Clearing fees, including floor brokerage</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">631,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">252,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,212,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">819,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Professional fees</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">477,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">372,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,572,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,265,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Occupancy</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">248,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">86,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">737,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">306,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Communications</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">120,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">56,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">369,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">192,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Advertising and promotion</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">6,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">16,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">40,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">61,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Total Expenses</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">5,800,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,088,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">17,423,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">6,732,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Income before (benefit) from income taxes</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,084,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,001,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">6,126,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,425,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(Benefit) from income taxes</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(1,035,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(485,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Net Income</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">3,119,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,001,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">6,611,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,425,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Net income per share of common stock</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Basic and diluted</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">.11</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">.05</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">.24</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">.06</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Weighted average shares outstanding</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Basic and diluted</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">27,157,188</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">22,085,126</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">27,157,188</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">22,085,126</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">See notes to condensed consolidated financial statements.</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">3</font></div>

<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Siebert Financial Corp. &amp; Subsidiaries<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><br>
</font>Condensed Consolidated Statements of Cash Flows<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><br>
</font> (unaudited)</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="zf93273262d244efaa5177d05868c7058" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #fefefe; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #fefefe; VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nine Months Ended</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">September 30,</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #fefefe; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2018</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2017</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Cash Flows From Operating Activities:</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Net income</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">6,611,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,425,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Adjustments to reconcile net income to net cash provided by/(used in) operating activities:</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Reduction in valuation allowance related to deferred tax asset</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(1,393,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Depreciation and amortization</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">91,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">90,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Changes in:</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Securities owned, at fair value</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">92,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Receivables from brokers</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(781,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(494,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Prepaid expenses and other assets</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(142,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(12,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Income taxes payable</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">784,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Due to <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">related party</font></div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(127,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Receivable from related party</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(717,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Accounts payable and accrued liabilities</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">200,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(266,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Net cash provided by operating activities</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">4,526,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">835,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Cash Flows From Investing Activities:</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Purchase of furniture, equipment, and leasehold improvements</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(272,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(350,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Software</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(678,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Net cash used in investing activities</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(950,000</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(350,000</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Net increase in cash and cash equivalents</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">3,576,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">485,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Cash and cash equivalents - beginning of period</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">3,765,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,730,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Cash and cash equivalents - end of period</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">7,341,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">3,215,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Supplemental Schedule Of Non-Cash Financing Activities:</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Payment by related party of expenses</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">803,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Supplemental Cash Flow Information:</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Taxes paid</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">126,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">39,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">See notes to condensed consolidated financial statements.</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

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</div>
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<div>&#160;</div>

<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Siebert Financial Corp. &amp; Subsidiaries<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><br>
</font>Notes to Condensed Consolidated Financial Statements<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><br>
</font>Nine Months Ended September 30, 2018 and 2017<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><br>
</font></font><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1.</div>
</td>
<td style="WIDTH: 97%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Business and Basis of Presentation</div>
</td>
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</table>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Siebert Financial Corp., a New York corporation, incorporated in 1934, is a holding company that conducts its retail discount brokerage business through its wholly-owned subsidiary, Muriel Siebert &amp; Co., Inc. (&#8220;MSCO&#8221;), a Delaware corporation and registered broker-dealer, its investment advisory business through its wholly-owned subsidiary, Siebert AdvisorNXT, Inc. (&#8220;NXT&#8221;), a New York corporation registered with the Securities and Exchange Commission (&#8220;SEC&#8221;) as a Registered Investment Advisor, its insurance business through its wholly-owned subsidiary, Park Wilshire Companies Inc. (&#8220;PWC&#8221;), a Texas corporation and licensed insurance agency, and&#160; KCA Technologies, LLC, (&#8220;KCAT&#8221;), a Nevada limited liability company and owner of certain intellectual property and related computer software for optimizing investment portfolios (&#8220;robo technology&#8221;). For purposes of this Quarterly Report on Form 10-Q, the terms &#8220;Siebert,&#8221; &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; and &#8220;our&#8221; refer to Siebert Financial Corp., MSCO, NXT, PWC, and KCAT collectively, unless the context otherwise requires.</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Our principal offices are located at 120 Wall Street, New York, NY 10005, and our phone number is (212) 644-2400. Our Internet address is www.siebertnet.com. Our SEC filings are available through our website at <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">www.siebertnet.com</font>, where investors are able to obtain copies of our public filings free of charge. Our common stock, par value $.01 per share, trades on the Nasdaq Capital Market under the symbol &#8220;SIEB.&#8221;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">The condensed consolidated financial statements presented herein are unaudited and include all adjustments (consisting of normal recurring adjustments) which are, in the opinion of our management, necessary for a fair presentation of the financial position and results of operations of the interim periods pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with generally accepted accounting principles (&#8220;GAAP&#8221;) in the United States of America (&#8220;U.S.&#8221;) have been condensed or omitted pursuant to the SEC rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. The balance sheet as of December 31, 2017 has been derived from the consolidated statements of financial condition at that date, but does not include all information and footnotes required by U.S. GAAP for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2017 (&#8220;2017 Form 10-K&#8221;). Due to the nature of our business, the results of operations for the three months and nine months ended September 30, 2018 are not necessarily indicative of operating results for the full year.</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">As further disclosed in our 2017 Form 10-K, the Company acquired certain retail broker-dealer assets of StockCross Financial Services, Inc. (&#8220;StockCross&#8221;), an affiliate of the Company. The impact of this acquisition has resulted in a significant improvement in operations for the three months and nine months ended September 30, 2018 as compared to the three months and the nine months ended September 30, 2017.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Recent Developments</u></div>

<div>&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">As of June 25, 2018, Siebert joined the broad-market Russell 3000&#174; Index. Annual Russell U.S. Indexes reconstitution captures the 4,000 largest U.S. stocks as of May 11, ranking them by total market capitalization. Membership in the Russell 3000&#174; Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000&#174; Index or small-cap Russell 2000&#174; Index as well as the appropriate growth and value style indexes. Russell U.S. Indexes are widely used by investment managers and institutional investors as the basis for index funds and as benchmarks for active investment strategies and approximately $9 trillion in assets are benchmarked against Russell U.S. Indexes.</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">On August 21, 2018, Siebert acquired all of the issued and outstanding membership interests of KCAT from Kennedy Cabot Acquisition, LLC (&#8220;KCA&#8221;), a certain related party of Siebert, for approximately $690,000. KCAT is a robo technology company initially tasked with developing a sophisticated robo product for Siebert AdvisorNXT (&#8220;Robo Platform&#8221;). The Robo Platform provides clients with an automated wealth management solution intended to maximize portfolio returns based on the client&#8217;s specific risk tolerance. The Robo Platform utilizes Modern Portfolio Theory to create optimal portfolios for each client by selecting low-cost, well-managed exchange traded funds (&#8220;ETFs&#8221;) and exchange traded notes (&#8220;ETNs&#8221;), and automatically rebalances portfolios in light of prevailing market conditions. Within the Robo Platform, the client has the option of using a pure robo track, or can opt for a hybrid approach, which combines the robo track with a traditional wealth manager to help manage their portfolio and make investment recommendations. See footnote 12 for additional information on the KCAT acquisition and the Robo Platform.</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">5</font></div>

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</div>
</div>

<div>&#160;</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2.</div>
</td>
<td style="WIDTH: 97%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Per Share Data</div>
</td>
</tr>
</table>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Basic earnings per share is calculated by dividing net income by the weighted average of the number of outstanding common shares during the period. The Company had net income of $3,119,000 for the three months ended September 30, 2018 as compared to net income of $1,001,000 for the three months ended September 30, 2017. The Company had net income of $6,611,000 for the nine months ended September 30, 2018 as compared to net income of $1,425,000 for the nine months ended September 30, 2017.</div>

<div><br>
</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">3.</div>
</td>
<td style="WIDTH: 97%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net Capital</div>
</td>
</tr>
</table>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">MSCO is subject to the SEC&#8217;s Uniform Net Capital Rule (Rule 15c3-1 or &#8220;Uniform Net Capital Rule&#8221;), which requires the maintenance of minimum net capital. MSCO has elected to use the alternative method, permitted by the Uniform Net Capital Rule, which requires that MSCO maintain minimum net capital, as defined, equal to the greater of $250,000 or 2% of aggregate debit balances arising from customer transactions, as defined. The Uniform Net Capital Rule also provides that equity capital may not be withdrawn or cash dividends paid if the resulting net capital would be less than 5% of aggregate debits. As of September 30, 2018, MSCO had net capital of $9,701,000 as compared with net capital requirement of $250,000. MSCO claims exemption from the reserve requirement under Section 15c3-3(k)(2)(ii).</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

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<tr>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top"><strong>4.</strong>&#160;</td>
<td style="WIDTH: 97%; VERTICAL-ALIGN: top"><strong>Revenue Recognition</strong>&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;&#160;&#160;</font><font style="TEXT-INDENT: 0px; FONT-SIZE: 5.14pt" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">On January 1, 2018, we adopted the Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Codification (&#8220;ASC&#8221;) Topic 606 by applying the modified retrospective method. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported under the accounting standards in effect for the prior period.</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">The adoption of FASB ASC Topic 606 did not have an impact on the recognition of our primary sources of revenue such as principal transactions, commissions and fees, as well as margin interest, marketing and distribution fees. The timing of recognition of substantially all of our remaining revenue was also not impacted, and we therefore did not record any cumulative effect adjustment to opening equity.</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">6</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Disaggregation of Revenue</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Below is a breakdown of the Company&#8217;s revenue:</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0px; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 6pt">&#160;&#160;</div>

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<td style="PADDING-BOTTOM: 2px; WIDTH: 41%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" valign="bottom">&#160;&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: top" valign="bottom" colspan="6">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Three Months Ended</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">September 30,</div>
</td>
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<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: top" valign="bottom" colspan="6">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nine Months Ended</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">September 30,</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Revenue Stream</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Statements of Operations<br>
 Classification</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">2018</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">2017</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">2018</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">2017</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Revenue from Principal transactions:</div>
</td>
<td style="WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif">Principal transactions &#8211; non StockCross</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif">Principal transactions</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">437,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">154,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">1,514,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">360,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif">Principal transactions attributed to assets acquired from StockCross</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif">Principal transactions</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">2,197,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">6,324,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif">Total Revenue from Principal transactions</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">2,634,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">154,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">7,838,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">360,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Revenue from Commissions and fees:</div>
</td>
<td style="WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif">Commissions and fees &#8211; non StockCross</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif">Commissions and fees</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">2,068,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">1,077,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">6,185,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">3,295,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif">Commissions and fees attributed to assets acquired from StockCross</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif">Commissions and fees</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">397,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">1,466,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;Total Revenue from Commissions and fees</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">2,465,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">1,077,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">7,651,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">3,295,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Revenue from Margin interest, marketing and distribution fees:</div>
</td>
<td style="WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif">Margin interest, marketing and distribution&#160;fees &#8211; non StockCross</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif">Margin interest, marketing and distribution fees</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">2,409,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">1,850,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">7,049,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">4,477,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 9pt">Margin interest, marketing and distribution fees attributed to assets acquired from StockCross</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">Margin interest, marketing and distribution fees</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">322,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">904,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif">Total Revenue from Margin interest, marketing and distribution fees</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">2,731,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">1,850,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">7,953,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">4,477,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Other Revenue:</div>
</td>
<td style="WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif">Interest &#8211; non StockCross</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif">Interest</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">34,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">4,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">69,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">9,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif">Advisory fees &#8211; non StockCross</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif">Advisory fees</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">20,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">4,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">38,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">16,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 41%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif">Total Revenue</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 19%; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif">Total Revenue</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">7,884,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">3,089,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">23,549,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif">8,157,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Principal transactions are recorded on a trade-date basis and primarily represent riskless principal transactions in which the Company, after receiving an order, buys or sells securities as principal and at the same time buys or sells the securities with a markup or markdown to complete the order.</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Commission and fees, margin interest, marketing and distribution fees, and related clearing expenses are recorded on a trade-date basis. Fees, consisting primarily of revenue participation with the Company&#8217;s clearing brokers in distribution fees and interest, are recorded as earned.</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Advisory fees are earned typically on a quarterly basis in accordance with the terms of the client agreements.</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Interest is recorded on the accrual basis.</div>

<div><br>
</div>

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="z3c1a732ee7bd4b57876da2fc0857134f" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">5.</div>
</td>
<td style="WIDTH: 97%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fair Value Measurements</div>
</td>
</tr>
</table>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">FASB ASC 820 defines fair value, establishes a framework for measuring fair value, and establishes a hierarchy of fair value inputs. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market. Valuation techniques that are consistent with the market, income, or cost approach, as specified by FASB ASC 820, are used to measure fair value.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels:</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Level 1 - Quoted prices (unadjusted) in active markets for an identical asset or liability that the Company can assess at the measurement date.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Level 2 - Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Level 3 - Unobservable inputs for the asset or liability.</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">7</font></div>

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</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">The availability of observable inputs can vary from security to security and is affected by a variety of factors, such as the type of security, the liquidity of markets, and other characteristics particular to the security. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. As such, the degree of judgment exercised in determining fair value is greatest for instruments categorized in level 3.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, the Company&#8217;s own assumptions are set to reflect those that the Company believes market participants would use in pricing the asset or liability at the measurement date.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">A description of the valuation techniques applied to the Company&#8217;s major categories of assets and liabilities measured at fair value on a recurring basis is as follows:</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">U.S. Government Securities: </font>U.S. government securities are valued using quoted market prices and as such, valuation adjustments are not applied. Accordingly, U.S. government securities are generally categorized in level 1 of the fair value hierarchy.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Municipal Securities:</font> Municipal securities are valued using recently executed transactions, market price quotations (when observable), bond spreads from independent external parties such as vendors and brokers, adjusted for any basis difference between cash and derivative instruments. The spread data used is for the same maturity as the bond. Municipal securities are generally categorized in level 2 of the fair value hierarchy.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Corporate Bonds and Convertible Preferred Stock: </font>The fair value of corporate bonds and convertible preferred stock are determined using recently executed transactions, market price quotations (when observable), bond spreads, or credit default swap spreads obtained from independent external parties such as vendors and brokers, adjusted for any basis difference between cash and derivative instruments. The spread data used is for the same maturity as the bond. If the spread data does not reference the issuer, then data that references a comparable issuer is used. When position-specific external price data is not observable, fair value is determined based on either benchmarking to similar instruments or cash flow models with yield curves, bond, or single-name credit default swap spreads and recovery rates as significant inputs. Corporate bonds and convertible preferred stocks are generally categorized in level 2 of the fair value hierarchy.</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Exchange-Traded Equity Securities: </font>Exchange-traded equity securities are valued based on quoted prices from the exchange. To the extent these securities are actively traded, valuation adjustments are not applied, and they are categorized in level 1 of the fair value hierarchy; otherwise, they are categorized in level 2 or level 3 of the fair value hierarchy.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Certificates of Deposit: </font>Certificates of deposit included in investments are valued at cost, which approximates fair value. These are categorized within segregated investments in level 2 of the fair value hierarchy.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Unit Investment Trusts:</font> Units of unit investment trusts are carried at redemption value, which represents fair value. Units of unit investment trusts are categorized in level 1 of the fair value hierarchy.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">There were no inventory positions as of September 30, 2018 and as of December 31, 2017.</div>

<div><br>
</div>

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<tr>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">6.</div>
</td>
<td style="WIDTH: 97%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Commitments and Contingencies</div>
</td>
</tr>
</table>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Retail customer transactions are cleared, on a fully disclosed basis, through two clearing brokers, one of which is a related party. If customers do not fulfill their contractual obligations, the clearing broker may charge MSCO for any loss incurred in connection with the purchase or sale of securities at prevailing market prices to satisfy the customers&#8217; obligations. MSCO regularly monitors the activity in its customer accounts for compliance with its margin requirement. MSCO is exposed to the risk of loss on unsettled customer transactions if customers fail to fulfill their contractual obligations. There were no material losses for unsettled customer transactions for the nine months ended September 30, 2018 and September 30, 2017.</div>

<div><br>
</div>

<div><br>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">8</font></div>

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</div>
</div>

<div>&#160;</div>

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="z60b082df67a1453fa36704acb4d12465" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">7.</div>
</td>
<td style="WIDTH: 97%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provision for Income Taxes</div>
</td>
</tr>
</table>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 45pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Income taxes consist of the following:</div>

<div>&#160;</div>

<div>
<table style="WIDTH: 92%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="z25d29dc2257c41c5bd84f2e109a20da5" border="0" cellspacing="0" cellpadding="0" align="center">
<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Three Months Ended</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">September 30, 2018</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nine Months Ended</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">September 30, 2018</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Current income taxes</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Federal</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">300,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">847,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">State</div>
</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">58,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">61,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">358,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">908,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Deferred tax benefit</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Federal</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(423,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(423,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">State</div>
</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(970,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(970,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(1,393,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(1,393,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Total (Benefit) from income taxes</div>
</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(1,035,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(485,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;For interim financial reporting, we estimate the effective tax rate for tax jurisdictions which is applied to the year to date income before taxes. For the three months and nine months ended September 30, 2018, our effective tax rate was -50% and -8%, respectively, due to the reversal of the valuation allowance for the deferred tax asset.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;As of September 30, 2018, we adjusted a portion of our valuation allowance against our deferred tax asset arising in U.S. federal and state jurisdictions as the realization of such asset is considered to be more likely than not realizable at this time. As a result, we recognized a net deferred tax asset amounting to approximately $1,393,000 as of September 30, 2018, and our income tax expense decreased $1,393,000 for the three months and nine months ended September 30, 2018. A deferred tax asset of approximately $6,619,000 is reported net of a valuation allowance of $5,226,000.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;In a future period, the Company&#8217;s assessment of the realizability of deferred tax assets and therefore the appropriateness of the valuation allowance could change based on an assessment of all available evidence, both positive and negative, in that future period. If the Company&#8217;s conclusion about the realizability of its deferred tax assets and therefore the appropriateness of the valuation allowance changes in a future period, the Company could record an additional substantial tax benefit or expense&#160;when that occurs.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;As of September 30, 2018, the Company had federal and state net operating loss carryforwards of $22,657,000 and $15,834,000, respectively, which expire between 2029 and 2036. Utilization of the Company&#8217;s net operating loss carryforwards for federal tax purposes and certain state jurisdictions are subject to annual limitations of approximately $900,000 per year under Internal Revenue Code Section 382 due to a previous change in ownership.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;In regard to the effect of the Tax Cuts and Jobs Act, we determined that the primary change applicable to us will result in lower income tax expense in 2018 as well as subsequent years. The statutory federal income rates in effect of 34% as of December 31, 2017 and 21% in subsequent periods were utilized to calculate the income tax provision and this provision will result in lower income tax expense in 2018 as well as subsequent years. In addition, the change in federal income tax rates affected the valuation of our gross deferred tax asset; however, there was no material impact to the financials as of December 31, 2017 through June 30, 2018 as there was a full valuation allowance during those periods."</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">The reconciliation between the income tax provision and income taxes computed by applying the statutory federal income tax rate to income before income taxes for the three months and nine months ended September 30, 2018 is as follows:</div>
</div>

<div>&#160;</div>

<div>
<div>
<table style="WIDTH: 92%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="zdf7e8cffa39844bb93b44803ecf27683" border="0" cellspacing="0" cellpadding="0" align="center">
<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Three Months Ended</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">September 30, 2018</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nine Months Ended</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">September 30, 2018</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Expected income tax at statutory federal tax rate (21%)</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">438,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,286,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Tax amortization of intangible assets</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(70,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(210,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Depreciation</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">8,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">19,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Net operating loss</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(47,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(141,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Temporary differences - charitable contributions</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">4,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(57,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">State taxes</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">25,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">11,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Reversal of valuation allowance</div>
</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(1,393,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(1,393,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 72%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Total (Benefit) from income taxes</div>
</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(1,035,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(485,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 45pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The primary item giving rise to the deferred tax asset is as follows:</div>

<div><br>
</div>

<table style="WIDTH: 92%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="z81fdb9181a304719b95c4ff9d068f3a7" border="0" cellspacing="0" cellpadding="0" align="center">
<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 86%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Net operating loss carryforwards</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">6,619,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 86%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Valuation allowance</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(5,226,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 86%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Net deferred tax asset</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,393,000</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div>&#160;</div>

<div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 12.75pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">As of December 31, 2017, March 31, 2018 and June 30, 2018, the Company&#8217;s deferred tax asset was primarily the result of U.S. and state net operating loss carryforwards. A full valuation allowance was recorded against the gross deferred tax asset as of December 31, 2017, March 31, 2018 and June 30, 2018. For the three months and nine months ended September 30, 2018, the Company recorded a net valuation allowance reversal of $1,393,000 related to net operating losses, on the basis of&#160;management&#8217;s reassessment of the amount of its deferred tax asset that is more likely than not to be realized.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 12.75pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">As of each reporting date, management considers new evidence, both positive and negative, that could impact management&#8217;s view with regard to future realization of deferred tax assets. As of September 30, 2018, the Company had achieved a full year of positive earnings in 2017 as well as three consecutive quarters of positive earnings in 2018. In addition, the 2018 results included almost a full year of the results post-acquisition of the retail assets from StockCross.&#160;Based on our analysis of the positive and negative evidence, management determined that sufficient positive evidence existed as of September 30, 2018 to conclude that a portion of deferred tax asset was realizable. Therefore, we reduced the valuation allowance and income tax expense accordingly.</div>
</div>

<div>&#160;</div>

<div>&#160;</div>

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="z334946b82cf245c0a09bff7f0e40da83" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;8.</div>
</td>
<td style="WIDTH: 97%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Non-Recurring Charges</div>
</td>
</tr>
</table>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 4.5pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">There were no non-recurring charges for the three months ended September 30, 2017. Included in the nine months ended September 30, 2017 is $342,000 primarily due to relocating the firm&#8217;s call center and costs associated with staff reductions.</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;</div>

<div><br>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">9</font></div>

<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div>&#160;</div>

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="ff4cfe99f3194deba70ac121240413ce" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top"><strong>9.</strong>&#160;</td>
<td style="WIDTH: 97%; VERTICAL-ALIGN: top"><strong>Related Party Transactions</strong>&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: justify"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;</font><font style="TEXT-INDENT: 0px; FONT-SIZE: 5.14pt" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">The Company earned revenue and incurred expenses of $2,916,000 and $307,000, respectively, from StockCross for the three months ended September 30, 2018. The Company earned revenue and incurred expenses of $8,694,000 and $1,271,000, respectively, from StockCross for the nine months ended September 30, 2018.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">As of September 30, 2018, the Company is owed a receivable from StockCross of $1,625,000. For the three months and nine months ended September 30, 2018, the Company received $14,000 in commissions and fees for a StockCross insurance policy.</div>

<div><br>
</div>

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="5505a08b722d41e3b457b3b224bb29bc" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top"><strong>10.</strong>&#160;</td>
<td style="WIDTH: 97%; VERTICAL-ALIGN: top"><strong>Liabilities</strong>&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0px; FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 45pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Included in the September 30, 2018 condensed consolidated statements of financial condition is $312,000 of commissions payable as part of accounts payable and accrued liabilities.</div>

<div><br>
</div>

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="d96039bd62194d178a10c7dfb60d1eea" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top"><strong>11.</strong>&#160;</td>
<td style="WIDTH: 97%; VERTICAL-ALIGN: top"><strong>Leases</strong>&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0px; FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 45pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">In addition to the leases stated in our 2017 Form 10-K, the Company committed to the below lease. The future minimum base rental payments under this operating lease are as follows:</div>

<div><br>
</div>

<table style="WIDTH: 92%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="zf1b3f2d156f14184a742a52fea6066b3" border="0" cellspacing="0" cellpadding="0" align="center">
<tr>
<td style="WIDTH: 16%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2019</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2020</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2021</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2022</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2023</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Later Years</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 16%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Jersey City Office</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,212,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">382,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">428,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">441,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">454,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">468,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">39,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: justify">&#160;</div>

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="19d02b273bc3406c9f1fa4ee5d3654f1" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top"><strong>12.</strong>&#160;</td>
<td style="WIDTH: 97%; VERTICAL-ALIGN: top"><strong>KCAT Acquisition and Software</strong>&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0px; FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN-LEFT: 36pt">On August 21, 2018, the Company signed a purchase agreement to acquire from KCA all of the issued and outstanding membership interests of KCAT. The net assets of KCAT included cash and capitalized software related to the Robo Platform. We have concluded that KCAT did not constitute a business in accordance with ASC Topic 805 and thus we accounted for this transaction as an asset acquisition. The majority of the shares of KCA were owned by the same shareholders who owned the majority of the shares of the Company. The Company's Board of Directors unanimously approved the acquisition of KCAT. The acquisition of KCAT was completed on August 21, 2018. The total consideration for the acquisition of KCAT was approximately $690,000. We believe that the Robo Platform will increase the breadth of our product offering and will generate substantial opportunity for the Company by appealing to customers within new demographics.</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN-LEFT: 36pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN-LEFT: 36pt">The software acquired from KCAT is accounted for under ASC Topic 985, Software, and shall be amortized over a 3 year period beginning in Q2 of 2019, the date we estimate the software will launch for commercial purposes.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 2. Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">This discussion should be read in conjunction with our consolidated financial statements for the year ended December 31, 2017, and our condensed consolidated financial statements and the notes thereto contained elsewhere in this Quarterly Report.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Business Environment</font>&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Our cash is invested primarily in bank accounts with large financial institutions. Our cash and working capital are sufficient to service the firm&#8217;s operations.</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">The following table presents certain metrics for, and as of, various periods within 2018 and 2017, which we use in evaluating our business.</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;</div>

<table style="WIDTH: 92%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="zb49156924d0049ef85a83a9efc1d21d0" border="0" cellspacing="0" cellpadding="0" align="center">
<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Three Months</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nine Months</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 52%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ended September 30,</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ended September 30,</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 52%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Retail Customer Activity</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2018</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2017</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2018</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2017</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Total retail trades</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">82,120</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">50,025</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">262,610</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">155,043</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Average commission per retail trade</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">23.43</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">20.35</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">22.87</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">20.63</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: left; TEXT-INDENT: -18pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt">&#160;</div>

<table style="WIDTH: 92%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="z6496ce46d4764094b00142c96212db6d" border="0" cellspacing="0" cellpadding="0" align="center">
<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">As of September 30,</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Retail Customer Metrics&#160;</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2018</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2017</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Retail customer net worth (in billions)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">11.7</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">7.5</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Retail customer money market fund value (in billions)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">0.6</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">0.7</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Retail free credit balances (in billions)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">0.4</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">0.3</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Retail customer margin debit balances (in billions)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">0.4</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">0.3</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Retail customer accounts with positions</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">39,247</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">27,020</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber"></font>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description</div>

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="z067a4b490a024894bff72b9c0cba8a65" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 4.64%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 1.77%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#183;</div>
</td>
<td style="WIDTH: 93.59%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Total retail trades represents retail trades that generate commissions.</div>
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</tr>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 1.77%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#183;</div>
</td>
<td style="WIDTH: 93.59%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Average commission per retail trade represents the average commission generated for all types of retail customer trades.</div>
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</tr>

<tr>
<td style="WIDTH: 4.64%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 1.77%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#183;</div>
</td>
<td style="WIDTH: 93.59%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Retail customer net worth represents the total value of securities and cash in the retail customer accounts before deducting margin debits.</div>
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</tr>

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<td style="WIDTH: 4.64%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 1.77%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#183;</div>
</td>
<td style="WIDTH: 93.59%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Retail customer money market fund value represents all retail customers accounts invested in money market funds.</div>
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<td style="WIDTH: 4.64%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 1.77%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#183;</div>
</td>
<td style="WIDTH: 93.59%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Retail customer margin debit balances represents credit extended to our customers to finance their purchases against current positions.</div>
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<td style="WIDTH: 4.64%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 1.77%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#183;</div>
</td>
<td style="WIDTH: 93.59%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Retail customer accounts with positions represents retail customers with cash and/or securities in their accounts.</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">We, like other securities firms, are directly affected by general economic and market conditions including fluctuations in volume and prices of securities, changes and prospects for changes in interest rates, and demand for brokerage and advisory services, all of which can affect our relative profitability. In periods of reduced financial market activity, profitability is likely to be adversely affected because certain expenses remain relatively fixed, such as salaries and related costs, as well as portions of communications and occupancy expenses. Accordingly, earnings for any period should not be considered representative of any other period.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Critical Accounting Policies</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">We generally follow accounting policies standard in the brokerage industry and believe that our policies appropriately reflect our financial position and results of operations. Our management makes significant estimates that affect the reported amounts of assets, liabilities, revenue, and expenses as well as the related disclosure of contingent assets and liabilities included in the financial statements. The estimates relate primarily to revenue and expenses in the normal course of business as to which we receive no confirmations, invoices, or other documentation at the time the books are closed. We use our best judgment, based on our knowledge of these revenue transactions and expenses incurred, to estimate the amount of such revenue and expenses. We are not aware of any material differences between the estimates used in closing our books for the last five years and the actual amounts of revenue and expenses incurred when we subsequently receive the actual confirmations, invoices, or other documentation. Estimates are also used in determining the useful lives of intangible assets and the fair market value of intangible assets. We also estimate the valuation allowance relating to the deferred tax asset based on more likely than not criteria. Our analysis includes positive and negative evidence available such as past operating history, estimated projected taxable income, industry and economic statistics, and the impact of the Tax Cuts and Jobs Act. Our management believes that its estimates are reasonable.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">We are planning to capitalize certain costs related to the development of the Robo Platform upon completion. As indicated in footnote 12, we are in the development and testing phase as there are additional features and functionalities needed to be built out. The types of costs we will capitalize include expenses such as consulting fees for third-party developers working on the project. Costs related to post-implementation activities will be expensed as incurred. Internal-use software is amortized on a straight-line basis over the estimated useful life of the asset, which is expected to be three years.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Significant Events in the Third Quarter of 2018</div>

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<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">KCAT Acquisition and Software</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Post-acquisition of KCAT and the AdvisorNXT code, we are continuing to enhance and tailor the Robo Platform to fit our strategic needs. As part of the most recent wave of development, our goals were to streamline the online account opening process, build out new automation for money movement, and improve the visuals and branding for a better client experience.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">As of the end of this quarter we have met these goals and have successfully launched the Robo Platform with the ability to onboard clients. In addition, we have made significant progress in the development of key algorithms and have remastered the portfolio selection process. The Robo Platform onboarding application is currently located at https://app.advisornxt.com/get-started.</div>

<div><br>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Going forward, we are working on streamlining connectivity between the Robo Platform and the client website, our back office databases, and our clearing providers. In addition, we are continuing to automate trading and back office tasks related to rebalancing client portfolios and processing fees. These improvements will be critical as we continue to scale the Robo Platform and we anticipate the majority of these new features to become fully operational during Q2 of 2019. We are excited to offer our dynamic Robo Platform to our current client base and when the application becomes fully operational, we will implement a strategic plan focused on customer acquisition.</div>

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<div><br>
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<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">11</font></div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Deferred Tax Asset</font></div>

<div>&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN-LEFT: 36pt">Deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements, which will result in taxable or deductible amounts in the future. In evaluating our ability to recover our deferred tax assets within the jurisdiction from which they arise, we considered all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax-planning strategies, and results of recent operations. In projecting future taxable income, we began with historical results and incorporated assumptions about the amount of future state and federal pretax operating income adjusted for items that did not have tax consequences. The assumptions about future taxable income required significant judgment and are consistent with the plans and estimates we use to manage the underlying businesses.<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</font>In evaluating the objective evidence that historical results provide, we considered three years of cumulative operating loss.</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; MARGIN-LEFT: 36pt">Evaluation of Deferred Tax Asset as of December 31, 2017 through June 30, 2018</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN-LEFT: 36pt">We did not recognize a deferred tax asset as of December 31, 2017 through June 30, 2018 based on our analysis of positive and negative evidence available. In assessing the amount to be recorded as a deferred tax asset, we considered the following factors:</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt">Positive Evidence</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Positive earnings for 2017.</div>
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<div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Preliminary positive earnings for first six months of 2018 and positive projections for the full year.</div>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt">Negative Evidence</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Track record of positive earnings in 2018 is limited.</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Significant losses in 2016, 2015, and 2014.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#8226;</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The unpredictable nature of future revenue streams.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#8226;</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The potential correction in the market, which could result in losses to the Company and the inability to use the tax asset.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#8226;</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The uncertainty in the political environment which could result in a change in the tax code that may cause market repercussions.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#8226;</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The effect of the tariffs on the economy.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#8226;</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Increased competitive pressures.</div>
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</div>

<div style="TEXT-ALIGN: justify; MARGIN-LEFT: 18pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN-LEFT: 36pt">ASC 740-10-30-22(c),&#160; provides examples of positive evidence that might support a conclusion that a valuation allowance is not needed when there is negative evidence. According to ASC 740-10-30-22(c), an example of positive evidence that might overcome negative evidence is "a strong earnings history exclusive of the loss that created the future deductible amount (tax loss carryforward or deductible temporary difference) coupled with evidence indicating that the loss (for example, an unusual, infrequent, or extraordinary item) is an aberration rather than a continuing condition."</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN-LEFT: 36pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN-LEFT: 36pt">In consideration of the guidance shown above, as of December 31, 2017, we believe that the Company did not have enough financial track record to be classified as having a &#8220;strong earnings history&#8221; as identified above. As of June 30, 2018, we considered the improved operating results post-acquisition of the retail assets from StockCross; however, we still believed that there was not enough financial track record for the Company to be classified as having a &#8220;strong earnings history.&#8221; In addition, a significant piece of objective negative evidence evaluated was the cumulative loss incurred over the three-year period ended December 31, 2016. Such objective evidence limited the ability to consider other subjective evidence such as our projections for future growth.</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN-LEFT: 36pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN-LEFT: 36pt">Accordingly, the positive financial performance was insufficient to outweigh the negative evidence as indicated above, and we concluded, using the more likely than not criteria, that a full valuation allowance for the deferred tax asset was appropriate as of December 31, 2017, March 31, 2018, and June 30, 2018 and the evidence did not support recording a partial valuation allowance.</div>

<div>&#160;</div>

<div style="FONT-STYLE: italic; MARGIN-LEFT: 36pt">Evaluation of Deferred Tax Asset as of September 30, 2018</div>

<div>&#160;</div>

<div style="TEXT-INDENT: 9pt; MARGIN-LEFT: 36pt">As of September 30, 2018, we recognized a deferred tax asset based on the additional positive evidence available. In assessing the amount to be recorded as a deferred tax asset, we considered the positive and negative evidence referenced above, as well as the below evidence:</div>

<div>&#160;</div>

<div style="MARGIN-LEFT: 36pt">Subsequent Positive Evidence</div>

<div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Three quarters of significantly improved operating results in comparison to 2017 and historical years.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#8226;</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Almost a full year of positive earnings post-acquisition of the retail assets from StockCross.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#8226;</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Taxable income of approximately $6 million as of September 30, 2018.</div>
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<div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#8226;</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Revised projected taxable income for fiscal year 2018, 2019 and 2020 exceeding original projections performed at the end of 2017.</div>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN-LEFT: 36pt">As of September 30, 2018, we considered the guidance from ASC 740-10-30-22(c) and believed that with three quarters of significantly improved operating results from the acquisition of the retail assets from StockCross, we concluded that the Company had a sufficient track record of positive performance as well as a trend of improving results to be classified as having a &#8220;strong earnings history.&#8221; While the negative evidence considered as of December 31, 2017 through June 30, 2018 was still relevant, the objective evidence of the Company&#8217;s performance during 2018 supported the positive evidence outweighing the negative.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN-LEFT: 36pt">As such, as of September 30, 2018, we believe that it was reasonable to record a deferred tax asset (net of valuation allowance) of approximately $1,393,000 as projected for the next three years. In assessing the amount to be recorded as a deferred tax asset, we concluded that a period not exceeding 3 years was a reasonable projection period due to increasing competitive pressures, regulatory costs, and the volatile political and economic environment.</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Results of Operations</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Three Months Ended September 30, 2018 Compared to Three Months Ended September 30, 2017</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Net income for the three months ended September 30, 2018 was $3,119,000, an increase of $2,118,000 or 212% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross, the recognition of a deferred tax asset, and an increase in interest bearing earnings.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Total revenue for the three months ended September 30, 2018 was $7,884,000, an increase of $4,795,000 or 155% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross and an increase in interest bearing earnings.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Margin interest, marketing and distribution fees for the three months ended September 30, 2018 were $2,731,000, an increase of $881,000 or 48% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross and an increase in interest rates.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Principal transactions for the three months ended September 30, 2018 were $2,634,000, an increase of $2,480,000 or 1,610% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Commissions and fees for the three months ended September 30, 2018 were $2,465,000, an increase of $1,388,000 or 129% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Interest for the three months ended September 30, 2018 was $34,000, an increase of $30,000 or 750% from the corresponding period in 2017 primarily due to increased cash balances.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Advisory fees for the three months ended September 30, 2018 were $20,000, an increase of $16,000 or 400% from the corresponding period in 2017 due to the preliminary launch of the robo technology.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Total expenses for the three months ended September 30, 2018 were $5,800,000, an increase of $3,712,000 or 178% from the corresponding period in 2017 due to items related to the retail assets acquired from StockCross such as additional personnel and office space requirements.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Employee compensation and benefits for the three months ended September 30, 2018 were $3,668,000, an increase of $2,637,000 or 256% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross.</div>

<div style="TEXT-ALIGN: justify; MARGIN-LEFT: 36pt"><br>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Other general and administrative expenses for the three months ended September 30, 2018 were $650,000, an increase of $375,000 or 136% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross.</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN-LEFT: 36pt"><br>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Clearing fees, including floor brokerage expenses for the three months ended September 30, 2018 were $631,000, an increase of $379,000 or 150% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Professional fees for the three months ended September 30, 2018 were $477,000, an increase of $105,000 or 28% from the corresponding period in 2017 primarily due to activities and developments related to expanding our business.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Occupancy expenses for the three months ended September 30, 2018 were $248,000, an increase of $162,000 or 188% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Communications expenses for the three months ended September 30, 2018 were $120,000, an increase of $64,000 or 114% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Advertising and promotion expenses for the three months ended September 30, 2018 were $6,000, a decrease of $10,000 or 63% from the corresponding period in 2017.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Provision for income taxes for the three months ended September 30, 2018 was a credit of $1,035,000, a decrease of $1,035,000 from the corresponding period in 2017 which consisted of a credit of $1,393,000 due to the recognition of a deferred tax asset partially offset by income taxes of $358,000.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nine Months Ended September 30, 2018 Compared to Nine Months Ended September 30, 2017</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Net income for the nine months ended September 30, 2018 was $6,611,000, an increase of $5,186,000 or 364% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross, the recognition of a deferred tax asset, and an increase in interest bearing earnings. Included in net income for the nine months ended September 30, 2017 is $342,000 of non-recurring costs primarily due to relocating the firm&#8217;s call center and costs associated with staff reductions.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Total revenue for the nine months ended September 30, 2018 was $23,549,000, an increase of $15,392,000 or 189% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross and an increase in interest bearing earnings.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Margin interest, marketing and distribution fees for the nine months ended September 30, 2018 were $7,953,000, an increase of $3,476,000 or 78% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross and an increase in interest rates.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Principal transactions for the nine months ended September 30, 2018 were $7,838,000, an increase of $7,478,000 or 2,077% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Commissions and fees for the nine months ended September 30, 2018 were $7,651,000, an increase of $4,356,000 or 132% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Interest for the nine months ended September 30, 2018 was $69,000, an increase of $60,000 or 667% from the corresponding period in 2017 primarily due to increased cash balances.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Advisory fees for the nine months ended September 30, 2018 were $38,000, an increase of $22,000 or 138% from the corresponding period in 2017 primarily due to the preliminary launch of the robo technology.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Total expenses for the nine months ended September 30, 2018 were $17,423,000, an increase of $10,691,000 or 159% from the corresponding period in 2017 primarily due to items related to the retail assets acquired from StockCross such as additional personnel and office space requirements.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Employee compensation and benefits for the nine months ended September 30, 2018 were $10,619,000, an increase of $7,550,000 or 246% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Other general and administrative expenses for the nine months ended September 30, 2018 were $1,874,000, an increase of $854,000 or 84% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Clearing fees, including floor brokerage expenses for the nine months ended September 30, 2018 were $2,212,000, an increase of $1,393,000 or 170% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Professional fees for the nine months ended September 30, 2018 were $1,572,000, an increase of $307,000 or 24% from the corresponding period in 2017 primarily due to activities and developments related to expanding our business.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Occupancy expenses for the nine months ended September 30, 2018 were $737,000, an increase of $431,000 or 141% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Communications expenses for the nine months ended September 30, 2018 were $369,000, an increase of $177,000 or 92% from the corresponding period in 2017 primarily due to the retail assets acquired from StockCross.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Advertising and promotion expenses for the nine months ended September 30, 2018 were $40,000, a decrease of $21,000 or 34% from the corresponding period in 2017.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Provision for income taxes for the nine months ended September 30, 2018 was a credit of $485,000, a decrease of $485,000 from the corresponding period in 2017 which consisted of a credit of $1,393,000 due to the recognition of a deferred tax asset partially offset by income taxes of $908,000.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Liquidity and Capital Resources</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Our working capital is invested in cash and cash equivalents. Our total assets as of September 30, 2018 were $13,493,000, of which $7,341,000, or 54%, is highly liquid.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">MSCO is subject to the SEC&#8217;s Uniform Net Capital Rule (Rule 15c3-1 or &#8220;Uniform Net Capital Rule&#8221;), which requires the maintenance of minimum net capital. As of September 30, 2018, MSCO&#8217;s regulatory net capital was $9,701,000, which was $9,451,000 in excess of its minimum capital requirement of $250,000.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 3. Quantitative and Qualitative Disclosures about Market Risk</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Working capital is generally invested temporarily in bank deposits, which may at times exceed FDIC limits. We have not incurred any losses associated with such excess deposits.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Retail customer transactions are cleared, on a fully disclosed basis, through two clearing brokers, one of which is a related party. If customers do not fulfill their contractual obligations, the clearing broker may charge MSCO for any loss incurred in connection with the purchase or sale of securities at prevailing market prices to satisfy the customers&#8217; obligations. MSCO regularly monitors the activity in its customer accounts for compliance with its margin requirement. MSCO is exposed to the risk of loss on unsettled customer transactions if customers fail to fulfill their contractual obligations. There were no material losses for unsettled customer transactions for the nine months ended September 30, 2018 and September 30, 2017.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 4. Controls and Procedures</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">We carried out an evaluation, under the supervision and with the participation of our management, including our Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report pursuant to Rule 13a-15(e) or Rule 15d-15(e) of the Exchange Act. Based on that evaluation, our management, including the Chief Financial Officer, concluded that our disclosure controls and procedures are effective to ensure that the information we are required to disclose in reports that we file or submit under the Exchange Act, is recorded, processed, summarized, and reported within the time periods specified in the rules and forms of the SEC, and to ensure that information required to be disclosed is accumulated and communicated to our management, including our Chief Financial Officer, to allow timely decisions regarding required disclosure.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">As a result of the following enhancements in the Company&#8217;s reporting process, the issues regarding the historical material weaknesses have been remedied as of September 30, 2018.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">We have implemented a number of measures to address the material weaknesses identified in our internal controls over financial reporting which were disclosed in our 2017 Form 10-K. During the first nine months of 2018, we increased our accounting staff by hiring an individual with appropriate experience applying GAAP technical accounting guidance. We have also engaged an independent CPA/Consultant who has extensive experience in SEC reporting, internal controls, and compliance and has been intimately involved in these areas to remediate the material weaknesses identified. We designed additional controls around identification, documentation and application of technical accounting guidance with particular emphasis on events outside the ordinary course of business. These controls include the implementation of additional supervision and review activities by qualified personnel, the preparation of formal accounting memoranda to support our conclusions on technical accounting matters, and the development and use of checklists and research tools to assist in compliance with GAAP regarding complex accounting issues.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Management concluded that the material weaknesses as defined in the 2017 Form 10-K did not have any material effect on the financial statements contained in the Form 10-Q for the quarters ended March 31, 2018, June 30, 2018, and September 30, 2018.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Except as described above, there were no changes in our internal controls over financial reporting during the most recently completed fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal controls over financial reporting.</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Part II - OTHER INFORMATION</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 1. Legal Proceedings</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">The Company is party to certain claims, suits and complaints arising in the ordinary course of business. In the opinion of our management, all such matters are without merit, or involve amounts which would not have a significant effect on the financial position of the Company.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 1A. Risk Factors</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">In addition to the other information set forth in this report, investors should carefully consider the risk factors discussed in Part I, Item 1A - &#8220;Risk Factors,&#8221; in our 2017 Form 10-K, which could materially affect our business, financial position, and results of operations in addition to the following risk factor which updates and replaces the risk factor captioned &#8220;There may be no public market for our common stock&#8221; previously disclosed in our 2017 Form 10-K:</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#8220;There may be no public market for our common stock.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Approximately 6,925,906 shares of our common stock (approximately 25.5% of the total outstanding), are currently held by the public. Although our Common Stock is traded on the Nasdaq Capital Market, there can be no assurance that an active public market will continue.&#8221;</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Except for the foregoing, there are no material changes from the risk factors set forth in Part I, Item 1A -&#8220;Risk Factors,&#8221; in our 2017 Form 10-K.</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SIGNATURES</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</div>

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<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">/s/ Andrew H. Reich</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Executive Vice President, Chief Operating Officer,<br>
 Chief Financial Officer, and Secretary</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Dated:&#160; November 14, 2018</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><a href="a51899365_ex311.htm#Exhibit991">Certification of Andrew H. Reich pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</a></div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><a href="a51899365_ex321.htm#Exhibit321">Certification of Andrew H. Reich of Periodic Financial Report under Section 906 of the Sarbanes-Oxley Act of 2002.</a></div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 5.45pt; FONT-SIZE: 10pt">&#160;</div>

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    <us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock contextRef="From2018-01-01to2018-09-30">&lt;div&gt;&lt;div style="text-align: left; text-indent: 36pt; font: 10pt Times New Roman, Times, serif"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;table id="z705bdeec4c2b4d4e9609847db9a7a40b" border="0" cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, serif"&gt;&#13;&lt;tr&gt;&#13;&lt;td style="width: 3%; vertical-align: top"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;1.&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="width: 97%; vertical-align: top"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;Business and Basis of Presentation&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;div style="text-align: left; text-indent: 36pt; font: bold 10pt Times New Roman, Times, serif"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;Siebert Financial Corp., a New York corporation, incorporated in 1934, is a holding company that conducts its retail discount brokerage business through its wholly-owned subsidiary, Muriel Siebert &amp;#38; Co., Inc. (&amp;#8220;MSCO&amp;#8221;), a Delaware corporation and registered broker-dealer, its investment advisory business through its wholly-owned subsidiary, Siebert AdvisorNXT, Inc. (&amp;#8220;NXT&amp;#8221;), a New York corporation registered with the Securities and Exchange Commission (&amp;#8220;SEC&amp;#8221;) as a Registered Investment Advisor, its insurance business through its wholly-owned subsidiary, Park Wilshire Companies Inc. (&amp;#8220;PWC&amp;#8221;), a Texas corporation and licensed insurance agency, and&amp;#160; KCA Technologies, LLC, (&amp;#8220;KCAT&amp;#8221;), a Nevada limited liability company and owner of certain intellectual property and related computer software for optimizing investment portfolios (&amp;#8220;robo technology&amp;#8221;). For purposes of this Quarterly Report on Form 10-Q, the terms &amp;#8220;Siebert,&amp;#8221; &amp;#8220;Company,&amp;#8221; &amp;#8220;we,&amp;#8221; &amp;#8220;us,&amp;#8221; and &amp;#8220;our&amp;#8221; refer to Siebert Financial Corp., MSCO, NXT, PWC, and KCAT collectively, unless the context otherwise requires.&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 18pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;Our principal offices are located at 120 Wall Street, New York, NY 10005, and our phone number is (212) 644-2400. Our Internet address is www.siebertnet.com. Our SEC filings are available through our website at &lt;font style="font: 10pt Times New Roman, Times, serif"&gt;www.siebertnet.com&lt;/font&gt;, where investors are able to obtain copies of our public filings free of charge. Our common stock, par value $.01 per share, trades on the Nasdaq Capital Market under the symbol &amp;#8220;SIEB.&amp;#8221;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 18pt; font: bold 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;The condensed consolidated financial statements presented herein are unaudited and include all adjustments (consisting of normal recurring adjustments) which are, in the opinion of our management, necessary for a fair presentation of the financial position and results of operations of the interim periods pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with generally accepted accounting principles (&amp;#8220;GAAP&amp;#8221;) in the United States of America (&amp;#8220;U.S.&amp;#8221;) have been condensed or omitted pursuant to the SEC rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. The balance sheet as of December 31, 2017 has been derived from the consolidated statements of financial condition at that date, but does not include all information and footnotes required by U.S. GAAP for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2017 (&amp;#8220;2017 Form 10-K&amp;#8221;). Due to the nature of our business, the results of operations for the three months and nine months ended September 30, 2018 are not necessarily indicative of operating results for the full year.&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 18pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;As further disclosed in our 2017 Form 10-K, the Company acquired certain retail broker-dealer assets of StockCross Financial Services, Inc. (&amp;#8220;StockCross&amp;#8221;), an affiliate of the Company. The impact of this acquisition has resulted in a significant improvement in operations for the three months and nine months ended September 30, 2018 as compared to the three months and the nine months ended September 30, 2017.&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif"&gt;&lt;u&gt;Recent Developments&lt;/u&gt;&lt;/div&gt;&#13;&#13;&lt;div&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;As of June 25, 2018, Siebert joined the broad-market Russell 3000&amp;#174; Index. Annual Russell U.S. Indexes reconstitution captures the 4,000 largest U.S. stocks as of May 11, ranking them by total market capitalization. Membership in the Russell 3000&amp;#174; Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000&amp;#174; Index or small-cap Russell 2000&amp;#174; Index as well as the appropriate growth and value style indexes. Russell U.S. Indexes are widely used by investment managers and institutional investors as the basis for index funds and as benchmarks for active investment strategies and approximately $9 trillion in assets are benchmarked against Russell U.S. Indexes.&lt;/div&gt;&#13;&#13;&lt;div&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;On August 21, 2018, Siebert acquired all of the issued and outstanding membership interests of KCAT from Kennedy Cabot Acquisition, LLC (&amp;#8220;KCA&amp;#8221;), a certain related party of Siebert, for approximately $690,000. KCAT is a robo technology company initially tasked with developing a sophisticated robo product for Siebert AdvisorNXT (&amp;#8220;Robo Platform&amp;#8221;). The Robo Platform provides clients with an automated wealth management solution intended to maximize portfolio returns based on the client&amp;#8217;s specific risk tolerance. The Robo Platform utilizes Modern Portfolio Theory to create optimal portfolios for each client by selecting low-cost, well-managed exchange traded funds (&amp;#8220;ETFs&amp;#8221;) and exchange traded notes (&amp;#8220;ETNs&amp;#8221;), and automatically rebalances portfolios in light of prevailing market conditions. Within the Robo Platform, the client has the option of using a pure robo track, or can opt for a hybrid approach, which combines the robo track with a traditional wealth manager to help manage their portfolio and make investment recommendations. See footnote 12 for additional information on the KCAT acquisition and the Robo Platform.&lt;/div&gt;&lt;/div&gt;</us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock>
    <us-gaap:EarningsPerShareTextBlock contextRef="From2018-01-01to2018-09-30">&lt;div&gt;&lt;table id="z9a0c1eb2c37a420d831dc05b04e53e18" border="0" cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, serif"&gt;&lt;tr&gt;&lt;td style="width: 3%; vertical-align: top"&gt;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;2.&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="width: 97%; vertical-align: top"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;Per Share Data&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 18pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;Basic earnings per share is calculated by dividing net income by the weighted average of the number of outstanding common shares during the period. The Company had net income of $3,119,000 for the three months ended September 30, 2018 as compared to net income of $1,001,000 for the three months ended September 30, 2017. The Company had net income of $6,611,000 for the nine months ended September 30, 2018 as compared to net income of $1,425,000 for the nine months ended September 30, 2017.&lt;/div&gt;&lt;/div&gt;</us-gaap:EarningsPerShareTextBlock>
    <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="From2018-01-01to2018-09-30">&lt;div&gt;&lt;div&gt;&lt;/div&gt;&#13;&#13;&lt;table id="z3f01fc44d5c94a669533417115a0947c" border="0" cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, serif"&gt;&#13;&lt;tr&gt;&#13;&lt;td style="width: 3%; vertical-align: top"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;3.&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="width: 97%; vertical-align: top"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;Net Capital&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;div style="text-align: left; text-indent: 36pt; font: 10pt Times New Roman, Times, serif"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;MSCO is subject to the SEC&amp;#8217;s Uniform Net Capital Rule (Rule 15c3-1 or &amp;#8220;Uniform Net Capital Rule&amp;#8221;), which requires the maintenance of minimum net capital. MSCO has elected to use the alternative method, permitted by the Uniform Net Capital Rule, which requires that MSCO maintain minimum net capital, as defined, equal to the greater of $250,000 or 2% of aggregate debit balances arising from customer transactions, as defined. The Uniform Net Capital Rule also provides that equity capital may not be withdrawn or cash dividends paid if the resulting net capital would be less than 5% of aggregate debits. As of September 30, 2018, MSCO had net capital of $9,701,000 as compared with net capital requirement of $250,000. MSCO claims exemption from the reserve requirement under Section 15c3-3(k)(2)(ii).&lt;/div&gt;&lt;/div&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
    <us-gaap:RevenueFromContractWithCustomerTextBlock contextRef="From2018-01-01to2018-09-30">&lt;div&gt;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;&lt;/div&gt;&#13;&#13;&lt;table id="a897b17dc17504528ab840e781ea0cdb9" border="0" cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, serif"&gt;&#13;&lt;tr&gt;&#13;&lt;td style="width: 3%; vertical-align: top"&gt;&lt;strong&gt;4.&lt;/strong&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 97%; vertical-align: top"&gt;&lt;strong&gt;Revenue Recognition&lt;/strong&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;div style="text-align: left"&gt;&lt;font style="font: bold 10pt Times New Roman, Times, serif"&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font id="TRGRRTFtoHTMLTab" style="text-indent: 0px; font-size: 5.14pt"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;On January 1, 2018, we adopted the Financial Accounting Standards Board (&amp;#8220;FASB&amp;#8221;) Accounting Standards Codification (&amp;#8220;ASC&amp;#8221;) Topic 606 by applying the modified retrospective method. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported under the accounting standards in effect for the prior period.&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;The adoption of FASB ASC Topic 606 did not have an impact on the recognition of our primary sources of revenue such as principal transactions, commissions and fees, as well as margin interest, marketing and distribution fees. The timing of recognition of substantially all of our remaining revenue was also not impacted, and we therefore did not record any cumulative effect adjustment to opening equity.&lt;/div&gt;&#13;&#13;&#13;&#13;&lt;div style="text-align: justify; text-indent: 18pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; font: bold 10pt Times New Roman, Times, serif"&gt;Disaggregation of Revenue&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: left; text-indent: 36pt; font: 10pt Times New Roman, Times, serif"&gt;Below is a breakdown of the Company&amp;#8217;s revenue:&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 0px; font: 6pt Times New Roman, Times, serif"&gt;&amp;#160;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;table id="z14e67033ed104315a76e5774e5d6b482" border="0" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"&gt;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; width: 32%; vertical-align: top; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; width: 20%; vertical-align: top; vertical-align: bottom"&gt;&amp;#160;&amp;#160;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="6" style="border-bottom: #000000 2px solid; vertical-align: top; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;Three Months Ended&lt;/div&gt;&#13;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;September 30,&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="6" style="border-bottom: #000000 2px solid; vertical-align: top; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;Nine Months Ended&lt;/div&gt;&#13;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;September 30,&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="text-align: left; padding-bottom: 2px; width: 32%; vertical-align: bottom"&gt;&#13;&lt;div style="font: bold 10pt Times New Roman, Times, serif"&gt;Revenue Stream&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;Statements of Operations&lt;br /&gt;&#13; Classification&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="border-bottom: #000000 2px solid; text-align: center; vertical-align: middle"&gt;&#13;&lt;div style="font: bold 10pt Times New Roman, Times, serif"&gt;2018&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="border-bottom: #000000 2px solid; text-align: center; vertical-align: middle"&gt;&#13;&lt;div style="font: bold 10pt Times New Roman, Times, serif"&gt;2017&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="border-bottom: #000000 2px solid; text-align: center; vertical-align: middle"&gt;&#13;&lt;div style="font: bold 10pt Times New Roman, Times, serif"&gt;2018&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="border-bottom: #000000 2px solid; text-align: center; vertical-align: middle"&gt;&#13;&lt;div style="font: bold 10pt Times New Roman, Times, serif"&gt;2017&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="width: 32%; vertical-align: top; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 20%; vertical-align: top; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="width: 32%; vertical-align: top; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;Revenue from Principal transactions:&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="width: 20%; vertical-align: top; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif"&gt;Principal transactions &amp;#8211; non StockCross&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Principal transactions&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;437,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;154,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;1,514,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;360,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif"&gt;Principal transactions attributed to assets acquired from StockCross&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Principal transactions&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;2,197,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;&amp;#8212;&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;6,324,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;&amp;#8212;&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Total Revenue from Principal transactions&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;2,634,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;154,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;7,838,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;360,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;Revenue from Commissions and fees:&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif"&gt;Commissions and fees &amp;#8211; non StockCross&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Commissions and fees&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;2,068,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;1,077,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;6,185,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;3,295,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif"&gt;Commissions and fees attributed to assets acquired from StockCross&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Commissions and fees&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;397,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;&amp;#8212;&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;1,466,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;&amp;#8212;&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;&amp;#160;Total Revenue from Commissions and fees&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;2,465,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;1,077,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;7,651,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;3,295,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;Revenue from Margin interest, marketing and distribution fees:&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif"&gt;Margin interest, marketing and distribution fees &amp;#8211; non StockCross&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Margin interest, marketing and distribution fees&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;2,409,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;1,850,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;7,049,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;4,477,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; text-indent: 0pt; font: 10pt Times New Roman, Times, serif; margin-left: 9pt"&gt;Margin interest, marketing and distribution fees attributed&lt;br /&gt;&#13; to assets acquired from StockCross&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 20%; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;Margin interest, marketing and distribution fees&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;322,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;&amp;#8212;&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;904,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;&amp;#8212;&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Total Revenue from Margin interest, marketing and distribution fees&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;2,731,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;1,850,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;7,953,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;4,477,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;Other Revenue:&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif"&gt;Interest &amp;#8211; non StockCross&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Interest&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;34,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;4,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;69,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;9,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif"&gt;Advisory fees &amp;#8211; non StockCross&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Advisory fees&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;20,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;4,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;38,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;16,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 4px; background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Total Revenue&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 4px; background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Total Revenue&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;7,884,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;3,089,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;23,549,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;8,157,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;Principal transactions are recorded on a trade-date basis and primarily represent riskless principal transactions in which the Company, after receiving an order, buys or sells securities as principal and at the same time buys or sells the securities with a markup or markdown to complete the order.&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;Commission and fees, margin interest, marketing and distribution fees, and related clearing expenses are recorded on a trade-date basis. Fees, consisting primarily of revenue participation with the Company&amp;#8217;s clearing brokers in distribution fees and interest, are recorded as earned.&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;Advisory fees are earned typically on a quarterly basis in accordance with the terms of the client agreements.&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;Interest is recorded on the accrual basis.&lt;/div&gt;&lt;/div&gt;</us-gaap:RevenueFromContractWithCustomerTextBlock>
    <us-gaap:FairValueMeasurementInputsDisclosureTextBlock contextRef="From2018-01-01to2018-09-30">&lt;div&gt;&lt;div&gt;&lt;/div&gt;&#13;&#13;&lt;table id="z3c1a732ee7bd4b57876da2fc0857134f" border="0" cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, serif"&gt;&#13;&lt;tr&gt;&#13;&lt;td style="width: 3%; vertical-align: top"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;5.&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="width: 97%; vertical-align: top"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;Fair Value Measurements&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;div style="text-align: left; text-indent: 36pt; font: 10pt Times New Roman, Times, serif"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;FASB ASC 820 defines fair value, establishes a framework for measuring fair value, and establishes a hierarchy of fair value inputs. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market. Valuation techniques that are consistent with the market, income, or cost approach, as specified by FASB ASC 820, are used to measure fair value.&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels:&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;Level 1 - Quoted prices (unadjusted) in active markets for an identical asset or liability that the Company can assess at the measurement date.&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;Level 2 - Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly.&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;Level 3 - Unobservable inputs for the asset or liability.&lt;/div&gt;&#13;&#13;&#13;&#13;&lt;div style="text-align: justify; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;The availability of observable inputs can vary from security to security and is affected by a variety of factors, such as the type of security, the liquidity of markets, and other characteristics particular to the security. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. As such, the degree of judgment exercised in determining fair value is greatest for instruments categorized in level 3.&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement.&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, the Company&amp;#8217;s own assumptions are set to reflect those that the Company believes market participants would use in pricing the asset or liability at the measurement date.&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;A description of the valuation techniques applied to the Company&amp;#8217;s major categories of assets and liabilities measured at fair value on a recurring basis is as follows:&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&lt;font style="font: italic 10pt Times New Roman, Times, serif"&gt;U.S. Government Securities: &lt;/font&gt;U.S. government securities are valued using quoted market prices and as such, valuation adjustments are not applied. Accordingly, U.S. government securities are generally categorized in level 1 of the fair value hierarchy.&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&lt;font style="font: italic 10pt Times New Roman, Times, serif"&gt;Municipal Securities:&lt;/font&gt; Municipal securities are valued using recently executed transactions, market price quotations (when observable), bond spreads from independent external parties such as vendors and brokers, adjusted for any basis difference between cash and derivative instruments. The spread data used is for the same maturity as the bond. Municipal securities are generally categorized in level 2 of the fair value hierarchy.&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&lt;font style="font: italic 10pt Times New Roman, Times, serif"&gt;Corporate Bonds and Convertible Preferred Stock: &lt;/font&gt;The fair value of corporate bonds and convertible preferred stock are determined using recently executed transactions, market price quotations (when observable), bond spreads, or credit default swap spreads obtained from independent external parties such as vendors and brokers, adjusted for any basis difference between cash and derivative instruments. The spread data used is for the same maturity as the bond. If the spread data does not reference the issuer, then data that references a comparable issuer is used. When position-specific external price data is not observable, fair value is determined based on either benchmarking to similar instruments or cash flow models with yield curves, bond, or single-name credit default swap spreads and recovery rates as significant inputs. Corporate bonds and convertible preferred stocks are generally categorized in level 2 of the fair value hierarchy.&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&lt;font style="font: italic 10pt Times New Roman, Times, serif"&gt;Exchange-Traded Equity Securities: &lt;/font&gt;Exchange-traded equity securities are valued based on quoted prices from the exchange. To the extent these securities are actively traded, valuation adjustments are not applied, and they are categorized in level 1 of the fair value hierarchy; otherwise, they are categorized in level 2 or level 3 of the fair value hierarchy.&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&lt;font style="font: italic 10pt Times New Roman, Times, serif"&gt;Certificates of Deposit: &lt;/font&gt;Certificates of deposit included in investments are valued at cost, which approximates fair value. These are categorized within segregated investments in level 2 of the fair value hierarchy.&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&lt;font style="font: italic 10pt Times New Roman, Times, serif"&gt;Unit Investment Trusts:&lt;/font&gt; Units of unit investment trusts are carried at redemption value, which represents fair value. Units of unit investment trusts are categorized in level 1 of the fair value hierarchy.&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;There were no inventory positions as of September 30, 2018 and as of December 31, 2017.&lt;/div&gt;&lt;/div&gt;</us-gaap:FairValueMeasurementInputsDisclosureTextBlock>
    <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="From2018-01-01to2018-09-30">&lt;div&gt;&lt;div&gt;&lt;/div&gt;&#13;&#13;&lt;table id="z5241c436a01b4eac81768f5b1a4b3b74" border="0" cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, serif"&gt;&#13;&lt;tr&gt;&#13;&lt;td style="width: 3%; vertical-align: top"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;6.&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="width: 97%; vertical-align: top"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;Commitments and Contingencies&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;div style="text-align: left; text-indent: 36pt; font: bold 10pt Times New Roman, Times, serif"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;Retail customer transactions are cleared, on a fully disclosed basis, through two clearing brokers, one of which is a related party. If customers do not fulfill their contractual obligations, the clearing broker may charge MSCO for any loss incurred in connection with the purchase or sale of securities at prevailing market prices to satisfy the customers&amp;#8217; obligations. MSCO regularly monitors the activity in its customer accounts for compliance with its margin requirement. MSCO is exposed to the risk of loss on unsettled customer transactions if customers fail to fulfill their contractual obligations. There were no material losses for unsettled customer transactions for the nine months ended September 30, 2018 and September 30, 2017.&lt;/div&gt;&lt;/div&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
    <SIEB:NonRecurringChargesDisclosureTextBlock contextRef="From2018-01-01to2018-09-30">&lt;div&gt;&lt;table id="z334946b82cf245c0a09bff7f0e40da83" border="0" cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, serif"&gt;&lt;tr&gt;&lt;td style="width: 3%; vertical-align: top"&gt;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;&amp;#160;8.&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="width: 97%; vertical-align: top"&gt;&#13;&lt;div style="text-align: justify; font: bold 10pt Times New Roman, Times, serif"&gt;Non-Recurring Charges&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 36pt; font: bold 10pt Times New Roman, Times, serif; margin-left: 4.5pt"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;There were no non-recurring charges for the three months ended September 30, 2017. Included in the nine months ended September 30, 2017 is $342,000 primarily due to relocating the firm&amp;#8217;s call center and costs associated with staff reductions.&lt;/div&gt;&lt;/div&gt;</SIEB:NonRecurringChargesDisclosureTextBlock>
    <us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="From2018-01-01to2018-09-30">&lt;div&gt;&lt;table id="ff4cfe99f3194deba70ac121240413ce" border="0" cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, serif"&gt;&lt;tr&gt;&lt;td style="width: 3%; vertical-align: top"&gt;&lt;strong&gt;9.&lt;/strong&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 97%; vertical-align: top"&gt;&lt;strong&gt;Related Party Transactions&lt;/strong&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;div style="text-align: justify"&gt;&lt;font style="font: 10pt Times New Roman, Times, serif"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font id="TRGRRTFtoHTMLTab" style="text-indent: 0px; font-size: 5.14pt"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;The Company earned revenue and incurred expenses of $2,916,000 and $307,000, respectively, from StockCross for the three months ended September 30, 2018. The Company earned revenue and incurred expenses of $8,694,000 and $1,271,000, respectively, from StockCross for the nine months ended September 30, 2018.&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;As of September 30, 2018, the Company is owed a receivable from StockCross of $1,625,000. For the three months and nine months ended September 30, 2018, the Company received $14,000 in commissions and fees for a StockCross insurance policy.&lt;/div&gt;&lt;/div&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
    <us-gaap:OtherLiabilitiesDisclosureTextBlock contextRef="From2018-01-01to2018-09-30">&lt;div&gt;&lt;div&gt;&lt;/div&gt;&#13;&#13;&lt;table id="a5505a08b722d41e3b457b3b224bb29bc" border="0" cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, serif"&gt;&#13;&lt;tr&gt;&#13;&lt;td style="width: 3%; vertical-align: top"&gt;&lt;strong&gt;10.&lt;/strong&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 97%; vertical-align: top"&gt;&lt;strong&gt;Liabilities&lt;/strong&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 0px; font-size: 5.14pt"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 45pt; font: 10pt Times New Roman, Times, serif"&gt;Included in the September 30, 2018 condensed consolidated statements of financial condition is $312,000 of commissions payable as part of accounts payable and accrued liabilities.&lt;/div&gt;&lt;/div&gt;</us-gaap:OtherLiabilitiesDisclosureTextBlock>
    <us-gaap:LesseeOperatingLeasesTextBlock contextRef="From2018-01-01to2018-09-30">&lt;div&gt;&lt;div&gt;&lt;/div&gt;&#13;&#13;&lt;table id="d96039bd62194d178a10c7dfb60d1eea" border="0" cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, serif"&gt;&#13;&lt;tr&gt;&#13;&lt;td style="width: 3%; vertical-align: top"&gt;&lt;strong&gt;11.&lt;/strong&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 97%; vertical-align: top"&gt;&lt;strong&gt;Leases&lt;/strong&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 0px; font-size: 5.14pt"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 45pt; font: 10pt Times New Roman, Times, serif"&gt;In addition to the leases stated in our 2017 Form 10-K, the Company committed to the below lease. The future minimum base rental payments under this operating lease are as follows:&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;table id="zf1b3f2d156f14184a742a52fea6066b3" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 92%; font: 10pt Times New Roman, Times, serif"&gt;&#13;&lt;tr&gt;&#13;&lt;td style="vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;Total&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;2019&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;2020&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;2021&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;2022&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;2023&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;Later Years&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 16%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: 10pt Times New Roman, Times, serif"&gt;Jersey City Office&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;2,212,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;382,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;428,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;441,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;454,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;468,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;39,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;/div&gt;</us-gaap:LesseeOperatingLeasesTextBlock>
    <us-gaap:BusinessCombinationDisclosureTextBlock contextRef="From2018-01-01to2018-09-30">&lt;div&gt;&lt;div style="text-align: justify"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;table id="a19d02b273bc3406c9f1fa4ee5d3654f1" border="0" cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, serif"&gt;&#13;&lt;tr&gt;&#13;&lt;td style="width: 3%; vertical-align: top"&gt;&lt;strong&gt;12.&lt;/strong&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 97%; vertical-align: top"&gt;&lt;strong&gt;KCAT Acquisition and Software&lt;/strong&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 0px; font-size: 5.14pt"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; margin-left: 36pt"&gt;On August 21, 2018, the Company signed a purchase&#13;agreement to acquire from KCA  all of the issued and outstanding membership interests of KCAT. The net assets of KCAT included&#13;cash and capitalized software related to the Robo Platform. We have concluded that KCAT did not constitute a business in&#13;accordance with ASC Topic 805 and thus we accounted for this transaction as an asset acquisition. The majority of the shares&#13;of KCA were owned by the same shareholders who owned the majority of the shares of the Company. The Company's Board of&#13;Directors unanimously approved the acquisition of KCAT. The acquisition of KCAT was completed on August 21, 2018. The total&#13;consideration for the acquisition of KCAT was approximately $690,000. We believe that the Robo Platform will increase the&#13;breadth of our product offering and will generate substantial opportunity for the Company by appealing to customers within&#13;new demographics.&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; margin-left: 36pt"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; margin-left: 36pt"&gt;The software acquired from KCAT is accounted for under ASC Topic 985, Software, and shall be amortized over a 3 year period beginning in Q2 of 2019, the date we estimate the software will launch for commercial purposes.&lt;/div&gt;&lt;/div&gt;</us-gaap:BusinessCombinationDisclosureTextBlock>
    <us-gaap:DisaggregationOfRevenueTableTextBlock contextRef="From2018-01-01to2018-09-30">&lt;div&gt;&lt;div&gt;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: left; text-indent: 36pt; font: 10pt Times New Roman, Times, serif"&gt;Below is a breakdown of the Company&amp;#8217;s revenue:&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 0px; font: 6pt Times New Roman, Times, serif"&gt;&amp;#160;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;table id="z14e67033ed104315a76e5774e5d6b482" border="0" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"&gt;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; width: 32%; vertical-align: top; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; width: 20%; vertical-align: top; vertical-align: bottom"&gt;&amp;#160;&amp;#160;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="6" style="border-bottom: #000000 2px solid; vertical-align: top; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;Three Months Ended&lt;/div&gt;&#13;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;September 30,&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="6" style="border-bottom: #000000 2px solid; vertical-align: top; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;Nine Months Ended&lt;/div&gt;&#13;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;September 30,&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="text-align: left; padding-bottom: 2px; width: 32%; vertical-align: bottom"&gt;&#13;&lt;div style="font: bold 10pt Times New Roman, Times, serif"&gt;Revenue Stream&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;Statements of Operations&lt;br /&gt;&#13; Classification&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="border-bottom: #000000 2px solid; text-align: center; vertical-align: middle"&gt;&#13;&lt;div style="font: bold 10pt Times New Roman, Times, serif"&gt;2018&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="border-bottom: #000000 2px solid; text-align: center; vertical-align: middle"&gt;&#13;&lt;div style="font: bold 10pt Times New Roman, Times, serif"&gt;2017&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="border-bottom: #000000 2px solid; text-align: center; vertical-align: middle"&gt;&#13;&lt;div style="font: bold 10pt Times New Roman, Times, serif"&gt;2018&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="border-bottom: #000000 2px solid; text-align: center; vertical-align: middle"&gt;&#13;&lt;div style="font: bold 10pt Times New Roman, Times, serif"&gt;2017&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="width: 32%; vertical-align: top; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 20%; vertical-align: top; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="width: 32%; vertical-align: top; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;Revenue from Principal transactions:&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="width: 20%; vertical-align: top; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif"&gt;Principal transactions &amp;#8211; non StockCross&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Principal transactions&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;437,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;154,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;1,514,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;360,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif"&gt;Principal transactions attributed to assets acquired from StockCross&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Principal transactions&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;2,197,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;&amp;#8212;&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;6,324,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;&amp;#8212;&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Total Revenue from Principal transactions&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;2,634,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;154,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;7,838,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;360,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;Revenue from Commissions and fees:&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif"&gt;Commissions and fees &amp;#8211; non StockCross&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Commissions and fees&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;2,068,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;1,077,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;6,185,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;3,295,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif"&gt;Commissions and fees attributed to assets acquired from StockCross&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Commissions and fees&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;397,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;&amp;#8212;&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;1,466,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;&amp;#8212;&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;&amp;#160;Total Revenue from Commissions and fees&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;2,465,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;1,077,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;7,651,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;3,295,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;Revenue from Margin interest, marketing and distribution fees:&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif"&gt;Margin interest, marketing and distribution&amp;#160;fees &amp;#8211; non StockCross&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Margin interest, marketing and distribution fees&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;2,409,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;1,850,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;7,049,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;4,477,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; text-indent: 0pt; font: 10pt Times New Roman, Times, serif; margin-left: 9pt"&gt;Margin interest, marketing and distribution fees attributed&lt;br /&gt;&#13; to assets acquired from StockCross&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 20%; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;Margin interest, marketing and distribution fees&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;322,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;&amp;#8212;&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;904,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;&amp;#8212;&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Total Revenue from Margin interest, marketing and distribution fees&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;2,731,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;1,850,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;7,953,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;4,477,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;Other Revenue:&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif"&gt;Interest &amp;#8211; non StockCross&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Interest&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;34,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;4,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;69,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;9,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif"&gt;Advisory fees &amp;#8211; non StockCross&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Advisory fees&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;20,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;4,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;38,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;16,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 4px; background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Total Revenue&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 4px; background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Total Revenue&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;7,884,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;3,089,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;23,549,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;8,157,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;/div&gt;</us-gaap:DisaggregationOfRevenueTableTextBlock>
    <us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock contextRef="From2018-01-01to2018-09-30">&lt;div&gt;&lt;div style="text-align: justify; text-indent: 45pt; font: 10pt Times New Roman, Times, serif"&gt;In addition to the leases stated in our 2017 Form 10-K, the Company committed to the below lease. The future minimum base rental payments under this operating lease are as follows:&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;table id="zf1b3f2d156f14184a742a52fea6066b3" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 92%; font: 10pt Times New Roman, Times, serif"&gt;&#13;&lt;tr&gt;&#13;&lt;td style="vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;Total&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;2019&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;2020&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;2021&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;2022&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;2023&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;Later Years&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 16%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: 10pt Times New Roman, Times, serif"&gt;Jersey City Office&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;2,212,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;382,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;428,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;441,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;454,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;468,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;39,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;/div&gt;</us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock>
    <us-gaap:CurrentFederalTaxExpenseBenefit contextRef="From2018-01-01to2018-09-30" unitRef="USD" decimals="0">847000</us-gaap:CurrentFederalTaxExpenseBenefit>
    <us-gaap:CurrentFederalTaxExpenseBenefit contextRef="From2018-07-01to2018-09-30" unitRef="USD" decimals="0">300000</us-gaap:CurrentFederalTaxExpenseBenefit>
    <us-gaap:CurrentFederalStateAndLocalTaxExpenseBenefit contextRef="From2018-01-01to2018-09-30" unitRef="USD" decimals="0">908000</us-gaap:CurrentFederalStateAndLocalTaxExpenseBenefit>
    <us-gaap:CurrentFederalStateAndLocalTaxExpenseBenefit contextRef="From2018-07-01to2018-09-30" unitRef="USD" decimals="0">358000</us-gaap:CurrentFederalStateAndLocalTaxExpenseBenefit>
    <us-gaap:DeferredFederalIncomeTaxExpenseBenefit contextRef="From2018-01-01to2018-09-30" unitRef="USD" decimals="0">-423000</us-gaap:DeferredFederalIncomeTaxExpenseBenefit>
    <us-gaap:DeferredFederalIncomeTaxExpenseBenefit contextRef="From2018-07-01to2018-09-30" unitRef="USD" decimals="0">-423000</us-gaap:DeferredFederalIncomeTaxExpenseBenefit>
    <us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit contextRef="From2018-01-01to2018-09-30" unitRef="USD" decimals="0">-970000</us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit>
    <us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit contextRef="From2018-07-01to2018-09-30" unitRef="USD" decimals="0">-970000</us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit>
    <us-gaap:DeferredFederalStateAndLocalTaxExpenseBenefit contextRef="From2018-01-01to2018-09-30" unitRef="USD" decimals="0">-1393000</us-gaap:DeferredFederalStateAndLocalTaxExpenseBenefit>
    <us-gaap:DeferredFederalStateAndLocalTaxExpenseBenefit contextRef="From2018-07-01to2018-09-30" unitRef="USD" decimals="0">-1393000</us-gaap:DeferredFederalStateAndLocalTaxExpenseBenefit>
    <us-gaap:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate contextRef="From2018-01-01to2018-09-30" unitRef="USD" decimals="0">1286000</us-gaap:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate>
    <us-gaap:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate contextRef="From2018-07-01to2018-09-30" unitRef="USD" decimals="0">438000</us-gaap:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate>
    <us-gaap:IncomeTaxReconciliationNondeductibleExpenseAmortization contextRef="From2018-01-01to2018-09-30" unitRef="USD" decimals="0">-210000</us-gaap:IncomeTaxReconciliationNondeductibleExpenseAmortization>
    <us-gaap:IncomeTaxReconciliationNondeductibleExpenseAmortization contextRef="From2018-07-01to2018-09-30" unitRef="USD" decimals="0">-70000</us-gaap:IncomeTaxReconciliationNondeductibleExpenseAmortization>
    <us-gaap:IncomeTaxReconciliationNondeductibleExpenseDepreciation contextRef="From2018-01-01to2018-09-30" unitRef="USD" decimals="0">19000</us-gaap:IncomeTaxReconciliationNondeductibleExpenseDepreciation>
    <us-gaap:IncomeTaxReconciliationNondeductibleExpenseDepreciation contextRef="From2018-07-01to2018-09-30" unitRef="USD" decimals="0">8000</us-gaap:IncomeTaxReconciliationNondeductibleExpenseDepreciation>
    <us-gaap:IncomeTaxReconciliationOtherAdjustments contextRef="From2018-01-01to2018-09-30" unitRef="USD" decimals="0">-141000</us-gaap:IncomeTaxReconciliationOtherAdjustments>
    <us-gaap:IncomeTaxReconciliationOtherAdjustments contextRef="From2018-07-01to2018-09-30" unitRef="USD" decimals="0">-47000</us-gaap:IncomeTaxReconciliationOtherAdjustments>
    <us-gaap:IncomeTaxReconciliationNondeductibleExpense contextRef="From2018-01-01to2018-09-30" unitRef="USD" decimals="0">-57000</us-gaap:IncomeTaxReconciliationNondeductibleExpense>
    <us-gaap:IncomeTaxReconciliationNondeductibleExpense contextRef="From2018-07-01to2018-09-30" unitRef="USD" decimals="0">4000</us-gaap:IncomeTaxReconciliationNondeductibleExpense>
    <us-gaap:IncomeTaxReconciliationStateAndLocalIncomeTaxes contextRef="From2018-01-01to2018-09-30" unitRef="USD" decimals="0">11000</us-gaap:IncomeTaxReconciliationStateAndLocalIncomeTaxes>
    <us-gaap:IncomeTaxReconciliationStateAndLocalIncomeTaxes contextRef="From2018-07-01to2018-09-30" unitRef="USD" decimals="0">25000</us-gaap:IncomeTaxReconciliationStateAndLocalIncomeTaxes>
    <us-gaap:IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance contextRef="From2018-01-01to2018-09-30" unitRef="USD" decimals="0">-1393000</us-gaap:IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance>
    <us-gaap:IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance contextRef="From2018-07-01to2018-09-30" unitRef="USD" decimals="0">-1393000</us-gaap:IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance>
    <us-gaap:IncomeTaxDisclosureTextBlock contextRef="From2018-01-01to2018-09-30">&lt;div&gt;&lt;table id="z60b082df67a1453fa36704acb4d12465" border="0" cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, serif"&gt;&lt;tr&gt;&lt;td style="width: 3%; vertical-align: top"&gt;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;7.&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="width: 97%; vertical-align: top"&gt;&#13;&lt;div style="text-align: left; font: bold 10pt Times New Roman, Times, serif"&gt;Provision for Income Taxes&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 18pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: left; text-indent: 45pt; font: 10pt Times New Roman, Times, serif"&gt;Income taxes consist of the following:&lt;/div&gt;&#13;&#13;&lt;div&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div&gt;&#13;&lt;table id="z25d29dc2257c41c5bd84f2e109a20da5" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 92%; font: 10pt Times New Roman, Times, serif"&gt;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;Three Months Ended&lt;/div&gt;&#13;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;September 30, 2018&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;Nine Months Ended&lt;/div&gt;&#13;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;September 30, 2018&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Current income taxes&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="background-color: #cceeff; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="background-color: #cceeff; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;Federal&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;300,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;847,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;State&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;58,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;61,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;358,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;908,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Deferred tax benefit&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;Federal&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(423,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(423,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;State&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(970,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(970,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(1,393,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(1,393,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 4px; background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Total (Benefit) from income taxes&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(1,035,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(485,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&amp;#160;For interim financial reporting, we estimate the effective tax rate for tax jurisdictions which is applied to the year to date income before taxes. For the three months and nine months ended September 30, 2018, our effective tax rate was -50% and -8%, respectively, due to the reversal of the valuation allowance for the deferred tax asset.&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;As of September 30, 2018, we adjusted a portion of our valuation allowance against our deferred tax asset arising in U.S. federal and state jurisdictions as the realization of such asset is considered to be more likely than not realizable at this time. As a result, we recognized a net deferred tax asset amounting to approximately $1,393,000 as of September 30, 2018, and our income tax expense decreased $1,393,000 for the three months and nine months ended September 30, 2018. A deferred tax asset of approximately $6,619,000 is reported net of a valuation allowance of $5,226,000.&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;In a future period, the Company&amp;#8217;s assessment of the realizability of deferred tax assets and therefore the appropriateness of the valuation allowance could change based on an assessment of all available evidence, both positive and negative, in that future period. If the Company&amp;#8217;s conclusion about the realizability of its deferred tax assets and therefore the appropriateness of the valuation allowance changes in a future period, the Company could record an additional substantial tax benefit or expense&amp;#160;when that occurs.&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;As of September 30, 2018, the Company had federal and state net operating loss carryforwards of $22,657,000 and $15,834,000, respectively, which expire between 2029 and 2036. Utilization of the Company&amp;#8217;s net operating loss carryforwards for federal tax purposes and certain state jurisdictions are subject to annual limitations of approximately $900,000 per year under Internal Revenue Code Section 382 due to a previous change in ownership.&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;In regard to the effect of the Tax Cuts and Jobs Act, we determined that the primary change applicable to us will result in lower income tax expense in 2018 as well as subsequent years. The statutory federal income rates in effect of 34% as of December 31, 2017 and 21% in subsequent periods were utilized to calculate the income tax provision and this provision will result in lower income tax expense in 2018 as well as subsequent years. In addition, the change in federal income tax rates affected the valuation of our gross deferred tax asset; however, there was no material impact to the financials as of December 31, 2017 through June 30, 2018 as there was a full valuation allowance during those periods."&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;The reconciliation between the income tax provision and income taxes computed by applying the statutory federal income tax rate to income before income taxes for the three months and nine months ended September 30, 2018 is as follows:&lt;/div&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div&gt;&#13;&lt;div&gt;&#13;&lt;table id="zdf7e8cffa39844bb93b44803ecf27683" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 92%; font: 10pt Times New Roman, Times, serif"&gt;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;Three Months Ended&lt;/div&gt;&#13;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;September 30, 2018&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;Nine Months Ended&lt;/div&gt;&#13;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;September 30, 2018&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Expected income tax at statutory federal tax rate (21%)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;438,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;1,286,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 72%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;Tax amortization of intangible assets&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(70,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(210,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 72%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;Depreciation&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;8,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;19,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 72%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;Net operating loss&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(47,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(141,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 72%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;Temporary differences - charitable contributions&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;4,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(57,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 72%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;State taxes&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;25,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;11,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #cceeff; width: 72%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;Reversal of valuation allowance&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(1,393,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(1,393,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 4px; background-color: #ffffff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Total (Benefit) from income taxes&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(1,035,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(485,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 45pt; font: 10pt Times New Roman, Times, serif"&gt;The primary item giving rise to the deferred tax asset is as follows:&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;table id="z81fdb9181a304719b95c4ff9d068f3a7" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 92%; font: 10pt Times New Roman, Times, serif"&gt;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 86%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Net operating loss carryforwards&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;6,619,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #ffffff; width: 86%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif"&gt;Valuation allowance&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(5,226,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 4px; background-color: #cceeff; width: 86%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Net deferred tax asset&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;1,393,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;div&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div&gt;&#13;&lt;div style="text-align: justify; text-indent: 12.75pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;As of December 31, 2017, March 31, 2018 and June 30, 2018, the Company&amp;#8217;s deferred tax asset was primarily the result of U.S. and state net operating loss carryforwards. A full valuation allowance was recorded against the gross deferred tax asset as of December 31, 2017, March 31, 2018 and June 30, 2018. For the three months and nine months ended September 30, 2018, the Company recorded a net valuation allowance reversal of $1,393,000 related to net operating losses, on the basis of&amp;#160;management&amp;#8217;s reassessment of the amount of its deferred tax asset that is more likely than not to be realized.&lt;/div&gt;&#13;&#13;&lt;div&gt;&lt;br /&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div style="text-align: justify; text-indent: 12.75pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;As of each reporting date, management considers new evidence, both positive and negative, that could impact management&amp;#8217;s view with regard to future realization of deferred tax assets. As of September 30, 2018, the Company had achieved a full year of positive earnings in 2017 as well as three consecutive quarters of positive earnings in 2018. In addition, the 2018 results included almost a full year of the results post-acquisition of the retail assets from StockCross.&amp;#160;Based on our analysis of the positive and negative evidence, management determined that sufficient positive evidence existed as of September 30, 2018 to conclude that a portion of deferred tax asset was realizable. Therefore, we reduced the valuation allowance and income tax expense accordingly.&lt;/div&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div&gt;&amp;#160;&lt;/div&gt;&lt;/div&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
    <us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock contextRef="From2018-01-01to2018-09-30">&lt;div&gt;&lt;div style="text-align: left; text-indent: 45pt; font: 10pt Times New Roman, Times, serif"&gt;Income taxes consist of the following:&lt;/div&gt;&#13;&#13;&lt;div&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div&gt;&#13;&lt;table id="z25d29dc2257c41c5bd84f2e109a20da5" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 92%; font: 10pt Times New Roman, Times, serif"&gt;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;Three Months Ended&lt;/div&gt;&#13;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;September 30, 2018&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;Nine Months Ended&lt;/div&gt;&#13;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;September 30, 2018&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Current income taxes&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="background-color: #cceeff; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="background-color: #cceeff; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;Federal&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;300,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;847,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;State&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;58,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;61,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;358,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;908,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Deferred tax benefit&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;Federal&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(423,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(423,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;State&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(970,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(970,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(1,393,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(1,393,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 4px; background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Total (Benefit) from income taxes&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(1,035,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(485,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock>
    <us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock contextRef="From2018-01-01to2018-09-30">&lt;div&gt;&lt;div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"&gt;The reconciliation between the income tax provision and income taxes computed by applying the statutory federal income tax rate to income before income taxes for the three months and nine months ended September 30, 2018 is as follows:&lt;/div&gt;&#13;&lt;/div&gt;&#13;&#13;&lt;div&gt;&amp;#160;&lt;/div&gt;&#13;&#13;&lt;div&gt;&#13;&lt;div&gt;&#13;&lt;table id="zdf7e8cffa39844bb93b44803ecf27683" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 92%; font: 10pt Times New Roman, Times, serif"&gt;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;Three Months Ended&lt;/div&gt;&#13;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;September 30, 2018&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td colspan="2" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;Nine Months Ended&lt;/div&gt;&#13;&#13;&lt;div style="text-align: center; font: bold 10pt Times New Roman, Times, serif"&gt;September 30, 2018&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Expected income tax at statutory federal tax rate (21%)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;438,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;1,286,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 72%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;Tax amortization of intangible assets&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(70,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(210,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 72%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;Depreciation&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;8,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;19,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 72%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;Net operating loss&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(47,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(141,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #cceeff; width: 72%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;Temporary differences - charitable contributions&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;4,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(57,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="background-color: #ffffff; width: 72%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;State taxes&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;25,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;11,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 2px; background-color: #cceeff; width: 72%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt"&gt;Reversal of valuation allowance&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(1,393,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(1,393,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;/tr&gt;&#13;&#13;&lt;tr&gt;&#13;&lt;td style="padding-bottom: 4px; background-color: #ffffff; width: 72%; vertical-align: middle; vertical-align: bottom"&gt;&#13;&lt;div style="text-align: left; font: 10pt Times New Roman, Times, serif"&gt;Total (Benefit) from income taxes&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="text-align: right; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(1,035,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;$&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;(485,000&lt;/div&gt;&#13;&lt;/td&gt;&#13;&lt;td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap"&gt;&#13;&lt;div style="font: 10pt Times New Roman, Times, serif"&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock>
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    <SIEB:DueFromStockcross contextRef="AsOf2018-09-30_custom_StockCrossMember" unitRef="USD" decimals="0">1625000</SIEB:DueFromStockcross>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>6
<FILENAME>sieb-20180930_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
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    </link:definitionLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>8
<FILENAME>sieb-20180930_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoXBRL; Version: 4.24a -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: http://www.novaworks.co -->
    <!-- Field: Doc-Info; Name: Source; Value: SFC 0918 10Q.xfr; Date: 2018%2D11%2D14T19:10:57Z -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x80020000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_PrincipalTransactionsMember" xlink:to="SIEB_PrincipalTransactionsMember_lbl" xlink:type="arc" />
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionAxis" xlink:to="us-gaap_BusinessAcquisitionAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionAxis_lbl" xml:lang="en-US">Legal Entity [Axis]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="SIEB_AssetsAcquiredFromStockCrossMember_lbl" xml:lang="en-US">Assets acquired from StockCross [Member]</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_NonStockCrossMember" xlink:to="SIEB_NonStockCrossMember_lbl" xlink:type="arc" />
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DomesticCountryMember" xlink:to="us-gaap_DomesticCountryMember_lbl" xlink:type="arc" />
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StateAndLocalJurisdictionMember" xlink:to="us-gaap_StateAndLocalJurisdictionMember_lbl" xlink:type="arc" />
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      <link:loc xlink:type="locator" xlink:href="sieb-20180930.xsd#SIEB_NetOperatingLossCarryforwardMember" xlink:label="SIEB_NetOperatingLossCarryforwardMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_NetOperatingLossCarryforwardMember" xlink:to="SIEB_NetOperatingLossCarryforwardMember_lbl" xlink:type="arc" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_BusinessAcquisitionAxis_2_lbl" xml:lang="en-US">Business Acquisition [Axis]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="SIEB_KennedyCabotAcquisitionMember_lbl" xml:lang="en-US">Kennedy Cabot Acquisition [Member]</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_DocumentAndEntityInformationAbstract" xlink:to="SIEB_DocumentAndEntityInformationAbstract_lbl" xlink:type="arc" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntitySmallBusiness_lbl" xml:lang="en-US">Entity Small Business</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsAbstract_lbl" xml:lang="en-US">ASSETS</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US">Cash and cash equivalents</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations" xlink:label="us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations" xlink:to="us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations_lbl" xml:lang="en-US">Receivables from brokers</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent" xlink:label="us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent" xlink:to="us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent_lbl" xml:lang="en-US">Deferred tax asset</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DueFromRelatedParties" xlink:label="us-gaap_DueFromRelatedParties" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueFromRelatedParties" xlink:to="us-gaap_DueFromRelatedParties_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DueFromRelatedParties_lbl" xml:lang="en-US">Receivable from related party</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:to="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xml:lang="en-US">Software</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US">Furniture, equipment and leasehold improvements, net</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssets" xlink:label="us-gaap_PrepaidExpenseAndOtherAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpenseAndOtherAssets" xlink:to="us-gaap_PrepaidExpenseAndOtherAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrepaidExpenseAndOtherAssets_lbl" xml:lang="en-US">Prepaid expenses and other assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FinancialInstrumentsOwnedAtFairValue" xlink:label="us-gaap_FinancialInstrumentsOwnedAtFairValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentsOwnedAtFairValue" xlink:to="us-gaap_FinancialInstrumentsOwnedAtFairValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentsOwnedAtFairValue_lbl" xml:lang="en-US">Securities owned, at fair value</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US">Total assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xml:lang="en-US">LIABILITIES AND STOCKHOLDERS' EQUITY</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LiabilitiesAbstract" xlink:label="us-gaap_LiabilitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAbstract" xlink:to="us-gaap_LiabilitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAbstract_lbl" xml:lang="en-US">Liabilities:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_TaxesPayableCurrentAndNoncurrent" xlink:label="us-gaap_TaxesPayableCurrentAndNoncurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TaxesPayableCurrentAndNoncurrent" xlink:to="us-gaap_TaxesPayableCurrentAndNoncurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TaxesPayableCurrentAndNoncurrent_lbl" xml:lang="en-US">Income taxes payable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_lbl" xml:lang="en-US">Accounts payable and accrued liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" xlink:label="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" xlink:to="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent_lbl" xml:lang="en-US">Due to related party</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OtherPayablesToBrokerDealersAndClearingOrganizations" xlink:label="us-gaap_OtherPayablesToBrokerDealersAndClearingOrganizations" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherPayablesToBrokerDealersAndClearingOrganizations" xlink:to="us-gaap_OtherPayablesToBrokerDealersAndClearingOrganizations_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherPayablesToBrokerDealersAndClearingOrganizations_lbl" xml:lang="en-US">Payable to clearing broker</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US">Total liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="us-gaap_CommitmentsAndContingencies" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US">Commitments and Contingencies</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US">Stockholders' equity:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common stock, $.01 par value; 49,000,0000 shares authorized, 27,157,188 shares issued and outstanding as of September 30, 2018 and December 31, 2017</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalCommonStock" xlink:to="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" xml:lang="en-US">Additional paid-in capital</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US">Retained earnings/(Accumulated deficit)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Total stockholders' equity</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">Total liabilities and stockholders' equity</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockholdersEquityAbstract_2_lbl" xml:lang="en-US">Stockholder's equity:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Common stock, par value</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="us-gaap_CommonStockSharesAuthorized" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US">Common stock, authorized shares</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">Common stock, issued shares</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Common stock, outstanding shares</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="us-gaap_IncomeStatementAbstract" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementAbstract_lbl" xml:lang="en-US">Income Statement [Abstract]</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenuesAbstract_lbl" xml:lang="en-US">Revenue:</link:label>
      <link:loc xlink:type="locator" xlink:href="sieb-20180930.xsd#SIEB_OtherFinancialServicesRevenue" xlink:label="SIEB_OtherFinancialServicesRevenue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_OtherFinancialServicesRevenue" xlink:to="SIEB_OtherFinancialServicesRevenue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="SIEB_OtherFinancialServicesRevenue_lbl" xml:lang="en-US">Margin interest, marketing and distribution fees</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PrincipalTransactionsRevenue" xlink:label="us-gaap_PrincipalTransactionsRevenue" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrincipalTransactionsRevenue_lbl" xml:lang="en-US">Principal transactions</link:label>
      <link:loc xlink:type="locator" xlink:href="sieb-20180930.xsd#SIEB_RevenueFromCommissionsAndFees" xlink:label="SIEB_RevenueFromCommissionsAndFees" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_RevenueFromCommissionsAndFees" xlink:to="SIEB_RevenueFromCommissionsAndFees_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="SIEB_RevenueFromCommissionsAndFees_lbl" xml:lang="en-US">Commissions and fees</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OtherInterestAndDividendIncome" xlink:label="us-gaap_OtherInterestAndDividendIncome" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherInterestAndDividendIncome" xlink:to="us-gaap_OtherInterestAndDividendIncome_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherInterestAndDividendIncome_lbl" xml:lang="en-US">Interest</link:label>
      <link:loc xlink:type="locator" xlink:href="sieb-20180930.xsd#SIEB_AdvisoryFeesRevenue" xlink:label="SIEB_AdvisoryFeesRevenue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_AdvisoryFeesRevenue" xlink:to="SIEB_AdvisoryFeesRevenue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="SIEB_AdvisoryFeesRevenue_lbl" xml:lang="en-US">Advisory fees</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_Revenues" xlink:label="us-gaap_Revenues" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_Revenues_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US">Total revenue</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="us-gaap_OperatingExpensesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpensesAbstract" xlink:to="us-gaap_OperatingExpensesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xml:lang="en-US">Expenses:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LaborAndRelatedExpense" xlink:label="us-gaap_LaborAndRelatedExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LaborAndRelatedExpense" xlink:to="us-gaap_LaborAndRelatedExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LaborAndRelatedExpense_lbl" xml:lang="en-US">Employee compensation and benefits</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OtherGeneralAndAdministrativeExpense" xlink:label="us-gaap_OtherGeneralAndAdministrativeExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherGeneralAndAdministrativeExpense" xlink:to="us-gaap_OtherGeneralAndAdministrativeExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherGeneralAndAdministrativeExpense_lbl" xml:lang="en-US">Other general and administrative</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FloorBrokerageExchangeAndClearanceFees" xlink:label="us-gaap_FloorBrokerageExchangeAndClearanceFees" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FloorBrokerageExchangeAndClearanceFees" xlink:to="us-gaap_FloorBrokerageExchangeAndClearanceFees_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FloorBrokerageExchangeAndClearanceFees_lbl" xml:lang="en-US">Clearing fees, including floor brokerage</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ProfessionalFees" xlink:label="us-gaap_ProfessionalFees" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProfessionalFees" xlink:to="us-gaap_ProfessionalFees_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProfessionalFees_lbl" xml:lang="en-US">Professional fees</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OccupancyNet" xlink:label="us-gaap_OccupancyNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OccupancyNet" xlink:to="us-gaap_OccupancyNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OccupancyNet_lbl" xml:lang="en-US">Occupancy</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_Communication" xlink:label="us-gaap_Communication" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Communication" xlink:to="us-gaap_Communication_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Communication_lbl" xml:lang="en-US">Communications</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_MarketingAndAdvertisingExpense" xlink:label="us-gaap_MarketingAndAdvertisingExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MarketingAndAdvertisingExpense" xlink:to="us-gaap_MarketingAndAdvertisingExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MarketingAndAdvertisingExpense_lbl" xml:lang="en-US">Advertising and promotion</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="us-gaap_OperatingExpenses" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingExpenses_lbl" xml:lang="en-US">Total Expenses</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl" xml:lang="en-US">Income before (benefit) from income taxes</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="us-gaap_IncomeTaxExpenseBenefit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefit" xlink:to="us-gaap_IncomeTaxExpenseBenefit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xml:lang="en-US">(Benefit) from income taxes</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">Net Income</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EarningsPerShareBasicAndDiluted" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicAndDiluted" xlink:to="us-gaap_EarningsPerShareBasicAndDiluted_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted_lbl" xml:lang="en-US">Net income per share of common stock - Basic and diluted</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted" xlink:label="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted" xlink:to="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted_lbl" xml:lang="en-US">Weighted average shares outstanding - Basic and diluted</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from operating activities:</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLoss_2_lbl" xml:lang="en-US">Net income</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments to reconcile net income to net cash provided by/(used in) operating activities:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredIncomeTaxes" xlink:label="us-gaap_IncreaseDecreaseInDeferredIncomeTaxes" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDeferredIncomeTaxes" xlink:to="us-gaap_IncreaseDecreaseInDeferredIncomeTaxes_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInDeferredIncomeTaxes_lbl" xml:lang="en-US">Reduction in valuation allowance related to deferred tax asset</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="us-gaap_DepreciationAndAmortization" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationAndAmortization" xlink:to="us-gaap_DepreciationAndAmortization_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DepreciationAndAmortization_lbl" xml:lang="en-US">Depreciation and amortization</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xml:lang="en-US">Changes in:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInSecuritiesBorrowed" xlink:label="us-gaap_IncreaseDecreaseInSecuritiesBorrowed" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInSecuritiesBorrowed" xlink:to="us-gaap_IncreaseDecreaseInSecuritiesBorrowed_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInSecuritiesBorrowed_lbl" xml:lang="en-US">Securities owned, at fair value</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInBrokerageReceivables" xlink:label="us-gaap_IncreaseDecreaseInBrokerageReceivables" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInBrokerageReceivables_lbl" xml:lang="en-US">Receivables from brokers</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInPayablesToBrokerDealers" xlink:label="us-gaap_IncreaseDecreaseInPayablesToBrokerDealers" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPayablesToBrokerDealers" xlink:to="us-gaap_IncreaseDecreaseInPayablesToBrokerDealers_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInPayablesToBrokerDealers_lbl" xml:lang="en-US">Payable to clearing broker</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:to="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xml:lang="en-US">Prepaid expenses and other assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xlink:label="us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_lbl" xml:lang="en-US">Income taxes payable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInDueToRelatedParties" xlink:label="us-gaap_IncreaseDecreaseInDueToRelatedParties" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInDueToRelatedParties_lbl" xml:lang="en-US">Due to related party</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInDueFromRelatedParties" xlink:label="us-gaap_IncreaseDecreaseInDueFromRelatedParties" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US">Accounts payable and accrued liabilities</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xml:lang="en-US">Other assets</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US">Purchase of furniture, equipment, and leasehold improvements</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForSoftware" xlink:to="us-gaap_PaymentsForSoftware_lbl" xlink:type="arc" />
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      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xlink:type="arc" />
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_3_lbl" xml:lang="en-US">Cash and cash equivalents - end of period</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:label="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_lbl" xml:lang="en-US">Supplemental Schedule Of Non-Cash Financing Activities:</link:label>
      <link:loc xlink:type="locator" xlink:href="sieb-20180930.xsd#SIEB_PaymentByParentOfExpensesNonCash" xlink:label="SIEB_PaymentByParentOfExpensesNonCash" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="SIEB_PaymentByParentOfExpensesNonCash_lbl" xml:lang="en-US">Payment by related party of expenses</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xml:lang="en-US">Supplemental Cash Flow Information:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncomeTaxesPaidNet" xlink:label="us-gaap_IncomeTaxesPaidNet" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxesPaidNet_lbl" xml:lang="en-US">Taxes paid</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock" xlink:label="us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock_lbl" xml:lang="en-US">Business and Basis of Presentation</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="us-gaap_EarningsPerShareAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareAbstract_lbl" xml:lang="en-US">Earnings Per Share [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EarningsPerShareTextBlock" xlink:label="us-gaap_EarningsPerShareTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareTextBlock" xlink:to="us-gaap_EarningsPerShareTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareTextBlock_lbl" xml:lang="en-US">Per Share Data</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StockholdersEquityNoteAbstract" xlink:label="us-gaap_StockholdersEquityNoteAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteAbstract" xlink:to="us-gaap_StockholdersEquityNoteAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityNoteAbstract_lbl" xml:lang="en-US">Stockholders' Equity Note [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xml:lang="en-US">Net Capital</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RevenueFromContractWithCustomerAbstract" xlink:label="us-gaap_RevenueFromContractWithCustomerAbstract" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueFromContractWithCustomerAbstract_lbl" xml:lang="en-US">Revenue from Contract with Customer [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RevenueFromContractWithCustomerTextBlock" xlink:label="us-gaap_RevenueFromContractWithCustomerTextBlock" />
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      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FairValueMeasurementInputsDisclosureTextBlock" xlink:label="us-gaap_FairValueMeasurementInputsDisclosureTextBlock" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" />
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      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock" />
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      <link:loc xlink:type="locator" xlink:href="sieb-20180930.xsd#SIEB_NonRecurringChargesAbstract" xlink:label="SIEB_NonRecurringChargesAbstract" />
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      <link:loc xlink:type="locator" xlink:href="sieb-20180930.xsd#SIEB_NonRecurringChargesDisclosureTextBlock" xlink:label="SIEB_NonRecurringChargesDisclosureTextBlock" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel3Member_lbl" xml:lang="en-US">Level 3 [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_USStatesAndPoliticalSubdivisionsMember_lbl" xml:lang="en-US">Municipal obligations [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AssetsFairValueDisclosureAbstract" xlink:label="us-gaap_AssetsFairValueDisclosureAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsFairValueDisclosureAbstract" xlink:to="us-gaap_AssetsFairValueDisclosureAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsFairValueDisclosureAbstract_lbl" xml:lang="en-US">Assets Securities owned</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsFairValueDisclosure" xlink:to="us-gaap_AssetsFairValueDisclosure_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsFairValueDisclosure_lbl" xml:lang="en-US">Total</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingLossCarryforwardsTable" xlink:label="us-gaap_OperatingLossCarryforwardsTable" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLossCarryforwardsLineItems_lbl" xml:lang="en-US">Operating Loss Carryforwards [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxAuthorityNameAxis" xlink:to="us-gaap_IncomeTaxAuthorityNameAxis_2_lbl" xlink:type="arc" />
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      <link:loc xlink:type="locator" xlink:href="sieb-20180930.xsd#SIEB_EstimatedEffectiveIncomeTaxRate" xlink:label="SIEB_EstimatedEffectiveIncomeTaxRate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_EstimatedEffectiveIncomeTaxRate" xlink:to="SIEB_EstimatedEffectiveIncomeTaxRate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="SIEB_EstimatedEffectiveIncomeTaxRate_lbl" xml:lang="en-US">Estimated effective tax rate due to the reversal of the valuation allowance for the deferred tax asset</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl" xml:lang="en-US">Effective tax rate from continuing operations</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl" xml:lang="en-US">Applicable federal income tax rate</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingLossCarryforwards" xlink:label="us-gaap_OperatingLossCarryforwards" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLossCarryforwards_lbl" xml:lang="en-US">Net operating loss carryforward</link:label>
      <link:loc xlink:type="locator" xlink:href="sieb-20180930.xsd#SIEB_NetOperatingLossCarryforwardAnnualLimitation" xlink:label="SIEB_NetOperatingLossCarryforwardAnnualLimitation" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="SIEB_NetOperatingLossCarryforwardAnnualLimitation_lbl" xml:lang="en-US">Net operating loss carryforward, annual limitation</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDeferredIncomeTaxes" xlink:to="us-gaap_IncreaseDecreaseInDeferredIncomeTaxes_2_lbl" xlink:type="arc" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsValuationAllowance_lbl" xml:lang="en-US">Valuation allowance</link:label>
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      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:label="us-gaap_DeferredFederalIncomeTaxExpenseBenefit" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationOtherAdjustments_lbl" xml:lang="en-US">Net operating loss</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncomeTaxReconciliationNondeductibleExpense" xlink:label="us-gaap_IncomeTaxReconciliationNondeductibleExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationNondeductibleExpense" xlink:to="us-gaap_IncomeTaxReconciliationNondeductibleExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationNondeductibleExpense_lbl" xml:lang="en-US">Temporary differences - charitable contributions</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" xlink:label="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" xlink:to="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_lbl" xml:lang="en-US">State taxes</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:label="us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:to="us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_lbl" xml:lang="en-US">Net operating loss carryforwards</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsValuationAllowance" xlink:to="us-gaap_DeferredTaxAssetsValuationAllowance_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DeferredTaxAssetsValuationAllowance_2_lbl" xml:lang="en-US">Valuation allowance</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DeferredTaxAssetsNet" xlink:label="us-gaap_DeferredTaxAssetsNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsNet" xlink:to="us-gaap_DeferredTaxAssetsNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DeferredTaxAssetsNet_lbl" xml:lang="en-US">Net deferred tax asset</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="us-gaap_RelatedPartyTransactionLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionLineItems" xlink:to="us-gaap_RelatedPartyTransactionLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionLineItems_lbl" xml:lang="en-US">Related Party Transaction [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_2_lbl" xml:lang="en-US">Related Party [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RevenueFromRelatedParties" xlink:label="us-gaap_RevenueFromRelatedParties" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueFromRelatedParties" xlink:to="us-gaap_RevenueFromRelatedParties_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueFromRelatedParties_lbl" xml:lang="en-US">Related party revenues</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RelatedPartyCosts" xlink:label="us-gaap_RelatedPartyCosts" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyCosts" xlink:to="us-gaap_RelatedPartyCosts_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyCosts_lbl" xml:lang="en-US">Related party expenses</link:label>
      <link:loc xlink:type="locator" xlink:href="sieb-20180930.xsd#SIEB_DueFromStockcross" xlink:label="SIEB_DueFromStockcross" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_DueFromStockcross" xlink:to="SIEB_DueFromStockcross_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="SIEB_DueFromStockcross_lbl" xml:lang="en-US">Due from Stockcross</link:label>
      <link:loc xlink:type="locator" xlink:href="sieb-20180930.xsd#SIEB_InsuranceCommissionsAndFeesReceivedFromRelatedParty" xlink:label="SIEB_InsuranceCommissionsAndFeesReceivedFromRelatedParty" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_InsuranceCommissionsAndFeesReceivedFromRelatedParty" xlink:to="SIEB_InsuranceCommissionsAndFeesReceivedFromRelatedParty_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="SIEB_InsuranceCommissionsAndFeesReceivedFromRelatedParty_lbl" xml:lang="en-US">Insurance commissions and fees received from related party</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccruedSalesCommissionCurrentAndNoncurrent" xlink:label="us-gaap_AccruedSalesCommissionCurrentAndNoncurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedSalesCommissionCurrentAndNoncurrent" xlink:to="us-gaap_AccruedSalesCommissionCurrentAndNoncurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedSalesCommissionCurrentAndNoncurrent_lbl" xml:lang="en-US">Commissions payable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_lbl" xml:lang="en-US">2019</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_lbl" xml:lang="en-US">2020</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl" xml:lang="en-US">2021</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_lbl" xml:lang="en-US">2022</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_lbl" xml:lang="en-US">2023</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_lbl" xml:lang="en-US">Later Years</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl" xml:lang="en-US">Total</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:to="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_lbl" xml:lang="en-US">Schedule of Business Acquisitions, by Acquisition [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="us-gaap_BusinessAcquisitionLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionLineItems" xlink:to="us-gaap_BusinessAcquisitionLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionLineItems_lbl" xml:lang="en-US">Business Acquisition [Line Items]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="us-gaap_BusinessCombinationConsiderationTransferred1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationConsiderationTransferred1" xlink:to="us-gaap_BusinessCombinationConsiderationTransferred1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationConsiderationTransferred1_lbl" xml:lang="en-US">Total consideration of Acquisition</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife" xlink:label="us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife" xlink:to="us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_lbl" xml:lang="en-US">Intangible assets acquired, useful life</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_AdvisoryFeesRevenue" xlink:to="SIEB_AdvisoryFeesRevenue_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="SIEB_AdvisoryFeesRevenue_doc" xml:lang="en-US">Advisory fees revenue.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_AssetsAcquiredFromStockCrossMember" xlink:to="SIEB_AssetsAcquiredFromStockCrossMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="SIEB_AssetsAcquiredFromStockCrossMember_doc" xml:lang="en-US">Assets acquired from StockCross [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_CommissionsAndFeesMember" xlink:to="SIEB_CommissionsAndFeesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="SIEB_CommissionsAndFeesMember_doc" xml:lang="en-US">Commissions and fees [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_MarginInterestMarketingAndDistributionFeesMember" xlink:to="SIEB_MarginInterestMarketingAndDistributionFeesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="SIEB_MarginInterestMarketingAndDistributionFeesMember_doc" xml:lang="en-US">Margin interest, marketing and distribution fees [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_NonRecurringChargesDisclosureTextBlock" xlink:to="SIEB_NonRecurringChargesDisclosureTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="SIEB_NonRecurringChargesDisclosureTextBlock_doc" xml:lang="en-US">The entire disclosure for non recurring charges.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_NonStockCrossMember" xlink:to="SIEB_NonStockCrossMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="SIEB_NonStockCrossMember_doc" xml:lang="en-US">Non StockCross [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_OtherFinancialServicesRevenue" xlink:to="SIEB_OtherFinancialServicesRevenue_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="SIEB_OtherFinancialServicesRevenue_doc" xml:lang="en-US">Amount of fees and financial services revenue classified as other.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_PaymentByParentOfExpensesNonCash" xlink:to="SIEB_PaymentByParentOfExpensesNonCash_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="SIEB_PaymentByParentOfExpensesNonCash_doc" xml:lang="en-US">Payment by related party of expenses.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_PrincipalTransactionsMember" xlink:to="SIEB_PrincipalTransactionsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="SIEB_PrincipalTransactionsMember_doc" xml:lang="en-US">Commissions and fees [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_RevenueFromCommissionsAndFees" xlink:to="SIEB_RevenueFromCommissionsAndFees_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="SIEB_RevenueFromCommissionsAndFees_doc" xml:lang="en-US">Revenue from commissions and fees.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_StockCrossMember" xlink:to="SIEB_StockCrossMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="SIEB_StockCrossMember_doc" xml:lang="en-US">StockCross [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_KennedyCabotAcquisitionMember" xlink:to="SIEB_KennedyCabotAcquisitionMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="SIEB_KennedyCabotAcquisitionMember_doc" xml:lang="en-US">Kennedy Cabot Acquisition [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="sieb-20180930.xsd#SIEB_RussellUSIndexesMember" xlink:label="SIEB_RussellUSIndexesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_RussellUSIndexesMember" xlink:to="SIEB_RussellUSIndexesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="SIEB_RussellUSIndexesMember_doc" xml:lang="en-US">Russell US Indexes [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_InsuranceCommissionsAndFeesReceivedFromRelatedParty" xlink:to="SIEB_InsuranceCommissionsAndFeesReceivedFromRelatedParty_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="SIEB_InsuranceCommissionsAndFeesReceivedFromRelatedParty_doc" xml:lang="en-US">Insurance commissions and fees received from related party.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SIEB_NetOperatingLossCarryforwardAnnualLimitation" xlink:to="SIEB_NetOperatingLossCarryforwardAnnualLimitation_doc" xlink:type="arc" />
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>9
<FILENAME>sieb-20180930_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated), (5) Smaller Reporting Accelerated Filer or (6) Smaller Reporting Company and Large Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntitySmallBusiness">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicates that the company is a smaller reporting company with both a public float and revenues of less than $75 million.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntitySmallBusiness</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>11
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6794508624">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Condensed Consolidated Statements of Financial Condition - USD ($)<br></strong></div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>ASSETS</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 7,341,000<span></span>
</td>
<td class="nump">$ 3,765,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations', window );">Receivables from brokers</a></td>
<td class="nump">2,177,000<span></span>
</td>
<td class="nump">1,396,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent', window );">Deferred tax asset</a></td>
<td class="nump">1,393,000<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedParties', window );">Receivable from related party</a></td>
<td class="nump">1,000,000<span></span>
</td>
<td class="nump">283,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IntangibleAssetsNetExcludingGoodwill', window );">Software</a></td>
<td class="nump">678,000<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Furniture, equipment and leasehold improvements, net</a></td>
<td class="nump">528,000<span></span>
</td>
<td class="nump">347,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssets', window );">Prepaid expenses and other assets</a></td>
<td class="nump">376,000<span></span>
</td>
<td class="nump">234,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentsOwnedAtFairValue', window );">Securities owned, at fair value</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">13,493,000<span></span>
</td>
<td class="nump">6,025,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAbstract', window );"><strong>Liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TaxesPayableCurrentAndNoncurrent', window );">Income taxes payable</a></td>
<td class="nump">908,000<span></span>
</td>
<td class="nump">125,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent', window );">Accounts payable and accrued liabilities</a></td>
<td class="nump">761,000<span></span>
</td>
<td class="nump">561,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrentAndNoncurrent', window );">Due to related party</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">127,000<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
<td class="nump">1,669,000<span></span>
</td>
<td class="nump">813,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">Commitments and Contingencies</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Stockholders' equity:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock, $.01 par value; 49,000,0000 shares authorized, 27,157,188 shares issued and outstanding as of September 30, 2018 and December 31, 2017</a></td>
<td class="nump">271,000<span></span>
</td>
<td class="nump">271,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid-in capital</a></td>
<td class="nump">7,641,000<span></span>
</td>
<td class="nump">7,641,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Retained earnings/(Accumulated deficit)</a></td>
<td class="nump">3,912,000<span></span>
</td>
<td class="num">(2,700,000)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total stockholders' equity</a></td>
<td class="nump">11,824,000<span></span>
</td>
<td class="nump">5,212,000<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total liabilities and stockholders' equity</a></td>
<td class="nump">$ 13,493,000<span></span>
</td>
<td class="nump">$ 6,025,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.15)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.15(1),(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapitalCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapitalCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3044-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingencies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a),19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82911808&amp;loc=d3e14326-108349<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingencies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e31917-109318<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e31931-109318<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, amounts due from related parties including affiliates, employees, joint ventures, officers and stockholders, immediate families thereof, and pension funds.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.10(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of obligations due all related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.15(3),(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancialInstrumentsOwnedAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate fair value as of the balance sheet date of financial instruments and other positions owned by the entity including: (1) mortgages, mortgage-backed and asset backed securities; (2) US government and agency obligations; (3) state and municipal government obligations; (4) other sovereign government debt; (5) corporate obligations; (6) corporate equities; (7) principal investments; (8) derivative contracts; and (9) physical commodities. Includes both pledged and unpledged holdings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 940<br> -SubTopic 320<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=35711157&amp;loc=d3e42546-110969<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancialInstrumentsOwnedAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IntangibleAssetsNetExcludingGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph ((a)(1),(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16212-109274<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IntangibleAssetsNetExcludingGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19-26)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(32))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseAndOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseAndOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(14))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount receivable from broker-dealers and clearing organizations, including, but not limited to, securities failed-to-deliver, certain deposits for securities borrowed, open transactions, good faith and margin deposits, commissions and floor brokerage receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=82891408&amp;loc=d3e4428-111522<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 940<br> -SubTopic 20<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=35710130&amp;loc=d3e41645-110958<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(23)(a)(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(31))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TaxesPayableCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable for statutory income, sales, use, payroll, excise, real, property and other taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(15))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TaxesPayableCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<head>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6793992144">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Condensed Consolidated Statements of Financial Condition (Parenthetical) - $ / shares<br></strong></div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Stockholder's equity:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, authorized shares</a></td>
<td class="nump">49,000,000<span></span>
</td>
<td class="nump">49,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock, issued shares</a></td>
<td class="nump">27,157,188<span></span>
</td>
<td class="nump">27,157,188<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, outstanding shares</a></td>
<td class="nump">27,157,188<span></span>
</td>
<td class="nump">27,157,188<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21463-112644<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<DOCUMENT>
<TYPE>XML
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6794379008">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Condensed Consolidated Statements of Operations (Unaudited) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenue:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_SIEB_OtherFinancialServicesRevenue', window );">Margin interest, marketing and distribution fees</a></td>
<td class="nump">$ 2,731,000<span></span>
</td>
<td class="nump">$ 1,850,000<span></span>
</td>
<td class="nump">$ 7,953,000<span></span>
</td>
<td class="nump">$ 4,477,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrincipalTransactionsRevenue', window );">Principal transactions</a></td>
<td class="nump">2,634,000<span></span>
</td>
<td class="nump">154,000<span></span>
</td>
<td class="nump">7,838,000<span></span>
</td>
<td class="nump">360,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_SIEB_RevenueFromCommissionsAndFees', window );">Commissions and fees</a></td>
<td class="nump">2,465,000<span></span>
</td>
<td class="nump">1,077,000<span></span>
</td>
<td class="nump">7,651,000<span></span>
</td>
<td class="nump">3,295,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherInterestAndDividendIncome', window );">Interest</a></td>
<td class="nump">34,000<span></span>
</td>
<td class="nump">4,000<span></span>
</td>
<td class="nump">69,000<span></span>
</td>
<td class="nump">9,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_SIEB_AdvisoryFeesRevenue', window );">Advisory fees</a></td>
<td class="nump">20,000<span></span>
</td>
<td class="nump">4,000<span></span>
</td>
<td class="nump">38,000<span></span>
</td>
<td class="nump">16,000<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total revenue</a></td>
<td class="nump">7,884,000<span></span>
</td>
<td class="nump">3,089,000<span></span>
</td>
<td class="nump">23,549,000<span></span>
</td>
<td class="nump">8,157,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>Expenses:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LaborAndRelatedExpense', window );">Employee compensation and benefits</a></td>
<td class="nump">3,668,000<span></span>
</td>
<td class="nump">1,031,000<span></span>
</td>
<td class="nump">10,619,000<span></span>
</td>
<td class="nump">3,069,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherGeneralAndAdministrativeExpense', window );">Other general and administrative</a></td>
<td class="nump">650,000<span></span>
</td>
<td class="nump">275,000<span></span>
</td>
<td class="nump">1,874,000<span></span>
</td>
<td class="nump">1,020,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FloorBrokerageExchangeAndClearanceFees', window );">Clearing fees, including floor brokerage</a></td>
<td class="nump">631,000<span></span>
</td>
<td class="nump">252,000<span></span>
</td>
<td class="nump">2,212,000<span></span>
</td>
<td class="nump">819,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfessionalFees', window );">Professional fees</a></td>
<td class="nump">477,000<span></span>
</td>
<td class="nump">372,000<span></span>
</td>
<td class="nump">1,572,000<span></span>
</td>
<td class="nump">1,265,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OccupancyNet', window );">Occupancy</a></td>
<td class="nump">248,000<span></span>
</td>
<td class="nump">86,000<span></span>
</td>
<td class="nump">737,000<span></span>
</td>
<td class="nump">306,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Communication', window );">Communications</a></td>
<td class="nump">120,000<span></span>
</td>
<td class="nump">56,000<span></span>
</td>
<td class="nump">369,000<span></span>
</td>
<td class="nump">192,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MarketingAndAdvertisingExpense', window );">Advertising and promotion</a></td>
<td class="nump">6,000<span></span>
</td>
<td class="nump">16,000<span></span>
</td>
<td class="nump">40,000<span></span>
</td>
<td class="nump">61,000<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total Expenses</a></td>
<td class="nump">5,800,000<span></span>
</td>
<td class="nump">2,088,000<span></span>
</td>
<td class="nump">17,423,000<span></span>
</td>
<td class="nump">6,732,000<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">Income before (benefit) from income taxes</a></td>
<td class="nump">2,084,000<span></span>
</td>
<td class="nump">1,001,000<span></span>
</td>
<td class="nump">6,126,000<span></span>
</td>
<td class="nump">1,425,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">(Benefit) from income taxes</a></td>
<td class="num">(1,035,000)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(485,000)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net Income</a></td>
<td class="nump">$ 3,119,000<span></span>
</td>
<td class="nump">$ 1,001,000<span></span>
</td>
<td class="nump">$ 6,611,000<span></span>
</td>
<td class="nump">$ 1,425,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDiluted', window );">Net income per share of common stock - Basic and diluted</a></td>
<td class="nump">$ 0.11<span></span>
</td>
<td class="nump">$ 0.05<span></span>
</td>
<td class="nump">$ 0.24<span></span>
</td>
<td class="nump">$ 0.06<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted', window );">Weighted average shares outstanding - Basic and diluted</a></td>
<td class="nump">27,157,188<span></span>
</td>
<td class="nump">22,085,126<span></span>
</td>
<td class="nump">27,157,188<span></span>
</td>
<td class="nump">22,085,126<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_SIEB_AdvisoryFeesRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Advisory fees revenue.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">SIEB_AdvisoryFeesRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>SIEB_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_SIEB_OtherFinancialServicesRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of fees and financial services revenue classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">SIEB_OtherFinancialServicesRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>SIEB_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_SIEB_RevenueFromCommissionsAndFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenue from commissions and fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">SIEB_RevenueFromCommissionsAndFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>SIEB_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Communication">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense incurred in the period for communication, which is the exchange of information by several methods.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.6)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Communication</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAndDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements.  Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period.  Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109260490&amp;loc=d3e1337-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicAndDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FloorBrokerageExchangeAndClearanceFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense during the period for floor brokerage fees paid to other broker-dealers to execute trades on their behalf, stock exchange fees, order flow fees, and clearance fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FloorBrokerageExchangeAndClearanceFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (h)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109238882&amp;loc=d3e38679-109324<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LaborAndRelatedExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LaborAndRelatedExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MarketingAndAdvertisingExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total expense recognized in the period for promotion, public relations, and brand or product advertising.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MarketingAndAdvertisingExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669619-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669625-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OccupancyNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of net occupancy expense that may include items, such as depreciation of facilities and equipment, lease expenses, property taxes and property and casualty insurance expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.14(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.6)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=84164817&amp;loc=d3e45280-112737<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OccupancyNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherGeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of general and administrative expense classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherGeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherInterestAndDividendIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after discount, accretion and premium amortization, of interest income and dividend income classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherInterestAndDividendIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrincipalTransactionsRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of realized and unrealized gain (loss) resulting from the difference between acquisition price and selling price or fair value of trading assets and trading liabilities, and from the firm's direct investment activity, conducted separately from customer trading activities, including, but not limited to, investments in private equity, alternative investment products, real estate, and exchanges and memberships.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 940<br> -SubTopic 320<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=35711157&amp;loc=d3e42567-110969<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrincipalTransactionsRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfessionalFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07.2(a),(b),(c),(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873854&amp;loc=SL114874292-224272<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 220<br> -Section 45<br> -Paragraph 3<br> -Subparagraph (k)<br> -URI http://asc.fasb.org/extlink&amp;oid=114873831&amp;loc=SL114874205-224268<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfessionalFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8933-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenuesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted</td>
</tr>
<tr>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6792646672">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash flows from operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">$ 6,611,000<span></span>
</td>
<td class="nump">$ 1,425,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income to net cash provided by/(used in) operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDeferredIncomeTaxes', window );">Reduction in valuation allowance related to deferred tax asset</a></td>
<td class="num">(1,393,000)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="nump">91,000<span></span>
</td>
<td class="nump">90,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInSecuritiesBorrowed', window );">Securities owned, at fair value</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">92,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInBrokerageReceivables', window );">Receivables from brokers</a></td>
<td class="num">(781,000)<span></span>
</td>
<td class="num">(494,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Prepaid expenses and other assets</a></td>
<td class="num">(142,000)<span></span>
</td>
<td class="num">(12,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable', window );">Income taxes payable</a></td>
<td class="nump">784,000<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDueToRelatedParties', window );">Due to related party</a></td>
<td class="num">(127,000)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDueFromRelatedParties', window );">Receivable from related party</a></td>
<td class="num">(717,000)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities', window );">Accounts payable and accrued liabilities</a></td>
<td class="nump">200,000<span></span>
</td>
<td class="num">(266,000)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by operating activities</a></td>
<td class="nump">4,526,000<span></span>
</td>
<td class="nump">835,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Purchase of furniture, equipment, and leasehold improvements</a></td>
<td class="num">(272,000)<span></span>
</td>
<td class="num">(350,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForSoftware', window );">Software</a></td>
<td class="num">(678,000)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash used in investing activities</a></td>
<td class="num">(950,000)<span></span>
</td>
<td class="num">(350,000)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net increase in cash and cash equivalents</a></td>
<td class="nump">3,576,000<span></span>
</td>
<td class="nump">485,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents - beginning of period</a></td>
<td class="nump">3,765,000<span></span>
</td>
<td class="nump">2,730,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents - end of period</a></td>
<td class="nump">7,341,000<span></span>
</td>
<td class="nump">3,215,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract', window );"><strong>Supplemental Schedule Of Non-Cash Financing Activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_SIEB_PaymentByParentOfExpensesNonCash', window );">Payment by related party of expenses</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">803,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>Supplemental Cash Flow Information:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesPaidNet', window );">Taxes paid</a></td>
<td class="nump">$ 126,000<span></span>
</td>
<td class="nump">$ 39,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Payment by related party of expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">SIEB_PaymentByParentOfExpensesNonCash</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:stringItemType</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3044-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</tr>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesPaidNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4297-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxesPaidNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInBrokerageReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the total amount due to the entity related to activities and operations with other broker dealers, and clearing organizations, including deposits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInBrokerageReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDeferredIncomeTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the account that represents the temporary difference that results from Income or Loss that is recognized for accounting purposes but not for tax purposes and vice versa.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDeferredIncomeTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in receivables to be collected from other entities that could exert significant influence over the reporting entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDueToRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of obligations to be paid to the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management; an entity and its principal owners, management, or member of their immediate families; affiliates; or other parties with the ability to exert significant influence.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDueToRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in prepaid expenses, and assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInSecuritiesBorrowed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the total amount due the entity arising from securities borrowed transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInSecuritiesBorrowed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3536-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3521-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6785794848">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Business and Basis of Presentation<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
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<td class="text">&#160;<span></span>
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<div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">1.</div>
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<div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">Business and Basis of Presentation</div>
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<div style="text-align: left; text-indent: 36pt; font: bold 10pt Times New Roman, Times, serif">&#160;</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">Siebert Financial Corp., a New York corporation, incorporated in 1934, is a holding company that conducts its retail discount brokerage business through its wholly-owned subsidiary, Muriel Siebert &#38; Co., Inc. (&#8220;MSCO&#8221;), a Delaware corporation and registered broker-dealer, its investment advisory business through its wholly-owned subsidiary, Siebert AdvisorNXT, Inc. (&#8220;NXT&#8221;), a New York corporation registered with the Securities and Exchange Commission (&#8220;SEC&#8221;) as a Registered Investment Advisor, its insurance business through its wholly-owned subsidiary, Park Wilshire Companies Inc. (&#8220;PWC&#8221;), a Texas corporation and licensed insurance agency, and&#160; KCA Technologies, LLC, (&#8220;KCAT&#8221;), a Nevada limited liability company and owner of certain intellectual property and related computer software for optimizing investment portfolios (&#8220;robo technology&#8221;). For purposes of this Quarterly Report on Form 10-Q, the terms &#8220;Siebert,&#8221; &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; and &#8220;our&#8221; refer to Siebert Financial Corp., MSCO, NXT, PWC, and KCAT collectively, unless the context otherwise requires.</div>

<div style="text-align: justify; text-indent: 18pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">&#160;</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">Our principal offices are located at 120 Wall Street, New York, NY 10005, and our phone number is (212) 644-2400. Our Internet address is www.siebertnet.com. Our SEC filings are available through our website at <font style="font: 10pt Times New Roman, Times, serif">www.siebertnet.com</font>, where investors are able to obtain copies of our public filings free of charge. Our common stock, par value $.01 per share, trades on the Nasdaq Capital Market under the symbol &#8220;SIEB.&#8221;</div>

<div style="text-align: justify; text-indent: 18pt; font: bold 10pt Times New Roman, Times, serif; margin-left: 36pt">&#160;</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">The condensed consolidated financial statements presented herein are unaudited and include all adjustments (consisting of normal recurring adjustments) which are, in the opinion of our management, necessary for a fair presentation of the financial position and results of operations of the interim periods pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with generally accepted accounting principles (&#8220;GAAP&#8221;) in the United States of America (&#8220;U.S.&#8221;) have been condensed or omitted pursuant to the SEC rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. The balance sheet as of December 31, 2017 has been derived from the consolidated statements of financial condition at that date, but does not include all information and footnotes required by U.S. GAAP for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2017 (&#8220;2017 Form 10-K&#8221;). Due to the nature of our business, the results of operations for the three months and nine months ended September 30, 2018 are not necessarily indicative of operating results for the full year.</div>

<div style="text-align: justify; text-indent: 18pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">&#160;</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">As further disclosed in our 2017 Form 10-K, the Company acquired certain retail broker-dealer assets of StockCross Financial Services, Inc. (&#8220;StockCross&#8221;), an affiliate of the Company. The impact of this acquisition has resulted in a significant improvement in operations for the three months and nine months ended September 30, 2018 as compared to the three months and the nine months ended September 30, 2017.</div>

<div><br />
</div>

<div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif"><u>Recent Developments</u></div>

<div>&#160;</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">As of June 25, 2018, Siebert joined the broad-market Russell 3000&#174; Index. Annual Russell U.S. Indexes reconstitution captures the 4,000 largest U.S. stocks as of May 11, ranking them by total market capitalization. Membership in the Russell 3000&#174; Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000&#174; Index or small-cap Russell 2000&#174; Index as well as the appropriate growth and value style indexes. Russell U.S. Indexes are widely used by investment managers and institutional investors as the basis for index funds and as benchmarks for active investment strategies and approximately $9 trillion in assets are benchmarked against Russell U.S. Indexes.</div>

<div>&#160;</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">On August 21, 2018, Siebert acquired all of the issued and outstanding membership interests of KCAT from Kennedy Cabot Acquisition, LLC (&#8220;KCA&#8221;), a certain related party of Siebert, for approximately $690,000. KCAT is a robo technology company initially tasked with developing a sophisticated robo product for Siebert AdvisorNXT (&#8220;Robo Platform&#8221;). The Robo Platform provides clients with an automated wealth management solution intended to maximize portfolio returns based on the client&#8217;s specific risk tolerance. The Robo Platform utilizes Modern Portfolio Theory to create optimal portfolios for each client by selecting low-cost, well-managed exchange traded funds (&#8220;ETFs&#8221;) and exchange traded notes (&#8220;ETNs&#8221;), and automatically rebalances portfolios in light of prevailing market conditions. Within the Robo Platform, the client has the option of using a pure robo track, or can opt for a hybrid approach, which combines the robo track with a traditional wealth manager to help manage their portfolio and make investment recommendations. See footnote 12 for additional information on the KCAT acquisition and the Robo Platform.</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the business description and basis of presentation concepts.  Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity.  Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6628733376">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Per Share Data<br></strong></div></th>
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<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
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<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
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<div style="font: 10pt Times New Roman, Times, serif">1,514,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
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<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
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<div style="font: 10pt Times New Roman, Times, serif">2,197,000</div>
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<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">&#8212;</div>
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<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">6,324,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">&#8212;</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Total Revenue from Principal transactions</div>
</td>
<td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">2,634,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">154,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">7,838,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">360,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">Revenue from Commissions and fees:</div>
</td>
<td style="width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif">Commissions and fees &#8211; non StockCross</div>
</td>
<td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Commissions and fees</div>
</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">2,068,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">1,077,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">6,185,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">3,295,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="padding-bottom: 2px; background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif">Commissions and fees attributed to assets acquired from StockCross</div>
</td>
<td style="padding-bottom: 2px; background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Commissions and fees</div>
</td>
<td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">397,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">&#8212;</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">1,466,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">&#8212;</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;Total Revenue from Commissions and fees</div>
</td>
<td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">2,465,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">1,077,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">7,651,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">3,295,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">Revenue from Margin interest, marketing and distribution fees:</div>
</td>
<td style="width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif">Margin interest, marketing and distribution fees &#8211; non StockCross</div>
</td>
<td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Margin interest, marketing and distribution fees</div>
</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">2,409,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">1,850,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">7,049,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">4,477,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="padding-bottom: 2px; background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; text-indent: 0pt; font: 10pt Times New Roman, Times, serif; margin-left: 9pt">Margin interest, marketing and distribution fees attributed<br />
 to assets acquired from StockCross</div>
</td>
<td style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 20%; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">Margin interest, marketing and distribution fees</div>
</td>
<td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">322,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">&#8212;</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">904,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">&#8212;</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Total Revenue from Margin interest, marketing and distribution fees</div>
</td>
<td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">2,731,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">1,850,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">7,953,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">4,477,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">Other Revenue:</div>
</td>
<td style="width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif">Interest &#8211; non StockCross</div>
</td>
<td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Interest</div>
</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">34,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">4,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">69,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">9,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif">Advisory fees &#8211; non StockCross</div>
</td>
<td style="background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Advisory fees</div>
</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">20,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">4,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">38,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">16,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="padding-bottom: 2px; width: 32%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="padding-bottom: 2px; width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="padding-bottom: 4px; background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Total Revenue</div>
</td>
<td style="padding-bottom: 4px; background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Total Revenue</div>
</td>
<td style="padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">7,884,000</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 4px double; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">3,089,000</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 4px double; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">23,549,000</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 4px double; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">8,157,000</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>
</table>

<div><br />
</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">Principal transactions are recorded on a trade-date basis and primarily represent riskless principal transactions in which the Company, after receiving an order, buys or sells securities as principal and at the same time buys or sells the securities with a markup or markdown to complete the order.</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">&#160;</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">Commission and fees, margin interest, marketing and distribution fees, and related clearing expenses are recorded on a trade-date basis. Fees, consisting primarily of revenue participation with the Company&#8217;s clearing brokers in distribution fees and interest, are recorded as earned.</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">&#160;</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">Advisory fees are earned typically on a quarterly basis in accordance with the terms of the client agreements.</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">&#160;</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">Interest is recorded on the accrual basis.</div></div><span></span>
</td>
</tr>
</table>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6785815664">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Value Measurements<br></strong></div></th>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementInputsDisclosureTextBlock', window );">Fair Value Measurements</a></td>
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<div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">Fair Value Measurements</div>
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<div style="text-align: left; text-indent: 36pt; font: 10pt Times New Roman, Times, serif">&#160;</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">FASB ASC 820 defines fair value, establishes a framework for measuring fair value, and establishes a hierarchy of fair value inputs. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market. Valuation techniques that are consistent with the market, income, or cost approach, as specified by FASB ASC 820, are used to measure fair value.</div>

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<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels:</div>

<div><br />
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<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">Level 1 - Quoted prices (unadjusted) in active markets for an identical asset or liability that the Company can assess at the measurement date.</div>

<div><br />
</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">Level 2 - Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly.</div>

<div><br />
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<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">Level 3 - Unobservable inputs for the asset or liability.</div>



<div style="text-align: justify; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">&#160;</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">The availability of observable inputs can vary from security to security and is affected by a variety of factors, such as the type of security, the liquidity of markets, and other characteristics particular to the security. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. As such, the degree of judgment exercised in determining fair value is greatest for instruments categorized in level 3.</div>

<div><br />
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<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement.</div>

<div><br />
</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, the Company&#8217;s own assumptions are set to reflect those that the Company believes market participants would use in pricing the asset or liability at the measurement date.</div>

<div><br />
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<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">A description of the valuation techniques applied to the Company&#8217;s major categories of assets and liabilities measured at fair value on a recurring basis is as follows:</div>

<div><br />
</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"><font style="font: italic 10pt Times New Roman, Times, serif">U.S. Government Securities: </font>U.S. government securities are valued using quoted market prices and as such, valuation adjustments are not applied. Accordingly, U.S. government securities are generally categorized in level 1 of the fair value hierarchy.</div>

<div><br />
</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"><font style="font: italic 10pt Times New Roman, Times, serif">Municipal Securities:</font> Municipal securities are valued using recently executed transactions, market price quotations (when observable), bond spreads from independent external parties such as vendors and brokers, adjusted for any basis difference between cash and derivative instruments. The spread data used is for the same maturity as the bond. Municipal securities are generally categorized in level 2 of the fair value hierarchy.</div>

<div><br />
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<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"><font style="font: italic 10pt Times New Roman, Times, serif">Corporate Bonds and Convertible Preferred Stock: </font>The fair value of corporate bonds and convertible preferred stock are determined using recently executed transactions, market price quotations (when observable), bond spreads, or credit default swap spreads obtained from independent external parties such as vendors and brokers, adjusted for any basis difference between cash and derivative instruments. The spread data used is for the same maturity as the bond. If the spread data does not reference the issuer, then data that references a comparable issuer is used. When position-specific external price data is not observable, fair value is determined based on either benchmarking to similar instruments or cash flow models with yield curves, bond, or single-name credit default swap spreads and recovery rates as significant inputs. Corporate bonds and convertible preferred stocks are generally categorized in level 2 of the fair value hierarchy.</div>

<div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">&#160;</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"><font style="font: italic 10pt Times New Roman, Times, serif">Exchange-Traded Equity Securities: </font>Exchange-traded equity securities are valued based on quoted prices from the exchange. To the extent these securities are actively traded, valuation adjustments are not applied, and they are categorized in level 1 of the fair value hierarchy; otherwise, they are categorized in level 2 or level 3 of the fair value hierarchy.</div>

<div><br />
</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"><font style="font: italic 10pt Times New Roman, Times, serif">Certificates of Deposit: </font>Certificates of deposit included in investments are valued at cost, which approximates fair value. These are categorized within segregated investments in level 2 of the fair value hierarchy.</div>

<div><br />
</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"><font style="font: italic 10pt Times New Roman, Times, serif">Unit Investment Trusts:</font> Units of unit investment trusts are carried at redemption value, which represents fair value. Units of unit investment trusts are categorized in level 1 of the fair value hierarchy.</div>

<div><br />
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<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">There were no inventory positions as of September 30, 2018 and as of December 31, 2017.</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -URI http://asc.fasb.org/topic&amp;trid=2155941<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6634377360">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies<br></strong></div></th>
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<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">Retail customer transactions are cleared, on a fully disclosed basis, through two clearing brokers, one of which is a related party. If customers do not fulfill their contractual obligations, the clearing broker may charge MSCO for any loss incurred in connection with the purchase or sale of securities at prevailing market prices to satisfy the customers&#8217; obligations. MSCO regularly monitors the activity in its customer accounts for compliance with its margin requirement. MSCO is exposed to the risk of loss on unsettled customer transactions if customers fail to fulfill their contractual obligations. There were no material losses for unsettled customer transactions for the nine months ended September 30, 2018 and September 30, 2017.</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for commitments and contingencies.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6785832848">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Provision for Income Taxes<br></strong></div></th>
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<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">Nine Months Ended</div>

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<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="background-color: #cceeff; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="background-color: #cceeff; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 72%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt">Federal</div>
</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">300,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">847,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="padding-bottom: 2px; background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt">State</div>
</td>
<td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">58,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">61,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 72%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">358,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">908,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="width: 72%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 11%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 11%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Deferred tax benefit</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 72%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt">Federal</div>
</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(423,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(423,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
</tr>

<tr>
<td style="padding-bottom: 2px; background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt">State</div>
</td>
<td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(970,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
<td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(970,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 72%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(1,393,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(1,393,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
</tr>

<tr>
<td style="padding-bottom: 2px; width: 72%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="text-align: right; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; width: 11%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; width: 11%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="padding-bottom: 4px; background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Total (Benefit) from income taxes</div>
</td>
<td style="text-align: right; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(1,035,000</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
<td style="text-align: right; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(485,000</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
</tr>
</table>
</div>

<div><br />
</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">&#160;For interim financial reporting, we estimate the effective tax rate for tax jurisdictions which is applied to the year to date income before taxes. For the three months and nine months ended September 30, 2018, our effective tax rate was -50% and -8%, respectively, due to the reversal of the valuation allowance for the deferred tax asset.</div>

<div><br />
</div>

<div style="text-align: justify; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">&#160;&#160;&#160;&#160;&#160;As of September 30, 2018, we adjusted a portion of our valuation allowance against our deferred tax asset arising in U.S. federal and state jurisdictions as the realization of such asset is considered to be more likely than not realizable at this time. As a result, we recognized a net deferred tax asset amounting to approximately $1,393,000 as of September 30, 2018, and our income tax expense decreased $1,393,000 for the three months and nine months ended September 30, 2018. A deferred tax asset of approximately $6,619,000 is reported net of a valuation allowance of $5,226,000.</div>

<div><br />
</div>

<div style="text-align: justify; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">&#160;&#160;&#160;&#160;&#160;In a future period, the Company&#8217;s assessment of the realizability of deferred tax assets and therefore the appropriateness of the valuation allowance could change based on an assessment of all available evidence, both positive and negative, in that future period. If the Company&#8217;s conclusion about the realizability of its deferred tax assets and therefore the appropriateness of the valuation allowance changes in a future period, the Company could record an additional substantial tax benefit or expense&#160;when that occurs.</div>

<div><br />
</div>

<div style="text-align: justify; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">&#160;&#160;&#160;&#160;&#160;As of September 30, 2018, the Company had federal and state net operating loss carryforwards of $22,657,000 and $15,834,000, respectively, which expire between 2029 and 2036. Utilization of the Company&#8217;s net operating loss carryforwards for federal tax purposes and certain state jurisdictions are subject to annual limitations of approximately $900,000 per year under Internal Revenue Code Section 382 due to a previous change in ownership.</div>

<div><br />
</div>

<div style="text-align: justify; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">&#160;&#160;&#160;&#160;&#160;In regard to the effect of the Tax Cuts and Jobs Act, we determined that the primary change applicable to us will result in lower income tax expense in 2018 as well as subsequent years. The statutory federal income rates in effect of 34% as of December 31, 2017 and 21% in subsequent periods were utilized to calculate the income tax provision and this provision will result in lower income tax expense in 2018 as well as subsequent years. In addition, the change in federal income tax rates affected the valuation of our gross deferred tax asset; however, there was no material impact to the financials as of December 31, 2017 through June 30, 2018 as there was a full valuation allowance during those periods."</div>

<div style="text-align: justify; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">&#160;</div>

<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">The reconciliation between the income tax provision and income taxes computed by applying the statutory federal income tax rate to income before income taxes for the three months and nine months ended September 30, 2018 is as follows:</div>
</div>

<div>&#160;</div>

<div>
<div>
<table id="zdf7e8cffa39844bb93b44803ecf27683" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 92%; font: 10pt Times New Roman, Times, serif">
<tr>
<td style="padding-bottom: 2px; width: 72%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom">
<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">Three Months Ended</div>

<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">September 30, 2018</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom">
<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">Nine Months Ended</div>

<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">September 30, 2018</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Expected income tax at statutory federal tax rate (21%)</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">438,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">1,286,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 72%; vertical-align: bottom; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt">Tax amortization of intangible assets</div>
</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(70,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(210,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
</tr>

<tr>
<td style="background-color: #cceeff; width: 72%; vertical-align: bottom; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt">Depreciation</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">8,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">19,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 72%; vertical-align: bottom; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt">Net operating loss</div>
</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(47,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(141,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
</tr>

<tr>
<td style="background-color: #cceeff; width: 72%; vertical-align: bottom; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt">Temporary differences - charitable contributions</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">4,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(57,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 72%; vertical-align: bottom; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt">State taxes</div>
</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">25,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">11,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="padding-bottom: 2px; background-color: #cceeff; width: 72%; vertical-align: bottom; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt">Reversal of valuation allowance</div>
</td>
<td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(1,393,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(1,393,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
</tr>

<tr>
<td style="padding-bottom: 4px; background-color: #ffffff; width: 72%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Total (Benefit) from income taxes</div>
</td>
<td style="text-align: right; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(1,035,000</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(485,000</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div style="text-align: justify; text-indent: 45pt; font: 10pt Times New Roman, Times, serif">The primary item giving rise to the deferred tax asset is as follows:</div>

<div><br />
</div>

<table id="z81fdb9181a304719b95c4ff9d068f3a7" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 92%; font: 10pt Times New Roman, Times, serif">
<tr>
<td style="background-color: #cceeff; width: 86%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Net operating loss carryforwards</div>
</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">6,619,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="padding-bottom: 2px; background-color: #ffffff; width: 86%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif">Valuation allowance</div>
</td>
<td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(5,226,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
</tr>

<tr>
<td style="padding-bottom: 4px; background-color: #cceeff; width: 86%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Net deferred tax asset</div>
</td>
<td style="padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">1,393,000</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>
</table>

<div>&#160;</div>

<div>
<div style="text-align: justify; text-indent: 12.75pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">As of December 31, 2017, March 31, 2018 and June 30, 2018, the Company&#8217;s deferred tax asset was primarily the result of U.S. and state net operating loss carryforwards. A full valuation allowance was recorded against the gross deferred tax asset as of December 31, 2017, March 31, 2018 and June 30, 2018. For the three months and nine months ended September 30, 2018, the Company recorded a net valuation allowance reversal of $1,393,000 related to net operating losses, on the basis of&#160;management&#8217;s reassessment of the amount of its deferred tax asset that is more likely than not to be realized.</div>

<div><br />
</div>

<div style="text-align: justify; text-indent: 12.75pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">As of each reporting date, management considers new evidence, both positive and negative, that could impact management&#8217;s view with regard to future realization of deferred tax assets. As of September 30, 2018, the Company had achieved a full year of positive earnings in 2017 as well as three consecutive quarters of positive earnings in 2018. In addition, the 2018 results included almost a full year of the results post-acquisition of the retail assets from StockCross.&#160;Based on our analysis of the positive and negative evidence, management determined that sufficient positive evidence existed as of September 30, 2018 to conclude that a portion of deferred tax asset was realizable. Therefore, we reduced the valuation allowance and income tax expense accordingly.</div>
</div>

<div>&#160;</div>

<div>&#160;</div></div><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Non-Recurring Charges<br></strong></div></th>
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<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">There were no non-recurring charges for the three months ended September 30, 2017. Included in the nine months ended September 30, 2017 is $342,000 primarily due to relocating the firm&#8217;s call center and costs associated with staff reductions.</div></div><span></span>
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<div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">The Company earned revenue and incurred expenses of $2,916,000 and $307,000, respectively, from StockCross for the three months ended September 30, 2018. The Company earned revenue and incurred expenses of $8,694,000 and $1,271,000, respectively, from StockCross for the nine months ended September 30, 2018.</div>

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<div style="text-align: justify; text-indent: 45pt; font: 10pt Times New Roman, Times, serif">Included in the September 30, 2018 condensed consolidated statements of financial condition is $312,000 of commissions payable as part of accounts payable and accrued liabilities.</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20,24)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<div style="text-align: justify; text-indent: 45pt; font: 10pt Times New Roman, Times, serif">In addition to the leases stated in our 2017 Form 10-K, the Company committed to the below lease. The future minimum base rental payments under this operating lease are as follows:</div>

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<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">2021</div>
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<div style="text-align: center; font: 10pt Times New Roman, Times, serif">Jersey City Office</div>
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<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
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</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">382,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
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<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">428,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
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<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">441,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
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<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">454,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">468,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">39,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -URI http://asc.fasb.org/subtopic&amp;trid=77888251<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>KCAT Acquisition and Software<br></strong></div></th>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationDisclosureTextBlock', window );">KCAT Acquisition and Software</a></td>
<td class="text"><div><div style="text-align: justify">&#160;</div>

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<td style="width: 3%; vertical-align: top"><strong>12.</strong>&#160;</td>
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<div style="text-align: justify; text-indent: 0px; font-size: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>

<div style="text-align: justify; text-indent: 9pt; margin-left: 36pt">On August 21, 2018, the Company signed a purchase
agreement to acquire from KCA  all of the issued and outstanding membership interests of KCAT. The net assets of KCAT included
cash and capitalized software related to the Robo Platform. We have concluded that KCAT did not constitute a business in
accordance with ASC Topic 805 and thus we accounted for this transaction as an asset acquisition. The majority of the shares
of KCA were owned by the same shareholders who owned the majority of the shares of the Company. The Company's Board of
Directors unanimously approved the acquisition of KCAT. The acquisition of KCAT was completed on August 21, 2018. The total
consideration for the acquisition of KCAT was approximately $690,000. We believe that the Robo Platform will increase the
breadth of our product offering and will generate substantial opportunity for the Company by appealing to customers within
new demographics.</div>

<div style="text-align: justify; text-indent: 9pt; margin-left: 36pt">&#160;</div>

<div style="text-align: justify; text-indent: 9pt; margin-left: 36pt">The software acquired from KCAT is accounted for under ASC Topic 985, Software, and shall be amortized over a 3 year period beginning in Q2 of 2019, the date we estimate the software will launch for commercial purposes.</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -URI http://asc.fasb.org/topic&amp;trid=2303972<br></p></div>
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<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
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<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">Nine Months Ended</div>

<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">September 30,</div>
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<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
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<div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">Statements of Operations<br />
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<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
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<div style="font: bold 10pt Times New Roman, Times, serif">2017</div>
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<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
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<div style="font: bold 10pt Times New Roman, Times, serif">2018</div>
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<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
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<div style="font: bold 10pt Times New Roman, Times, serif">2017</div>
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<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
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<td style="width: 32%; vertical-align: top; vertical-align: bottom">&#160;</td>
<td style="width: 20%; vertical-align: top; vertical-align: bottom">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
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<div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">Revenue from Principal transactions:</div>
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<td style="width: 20%; vertical-align: top; vertical-align: bottom">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
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<div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif">Principal transactions &#8211; non StockCross</div>
</td>
<td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Principal transactions</div>
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<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
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<div style="font: 10pt Times New Roman, Times, serif">$</div>
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<div style="font: 10pt Times New Roman, Times, serif">437,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
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<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">154,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
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<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">1,514,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
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<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">360,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

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<div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif">Principal transactions attributed to assets acquired from StockCross</div>
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<td style="padding-bottom: 2px; background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Principal transactions</div>
</td>
<td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">2,197,000</div>
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<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">&#8212;</div>
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<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">6,324,000</div>
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<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">&#8212;</div>
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<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
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<td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Total Revenue from Principal transactions</div>
</td>
<td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">2,634,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">154,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">7,838,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">360,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">Revenue from Commissions and fees:</div>
</td>
<td style="width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif">Commissions and fees &#8211; non StockCross</div>
</td>
<td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Commissions and fees</div>
</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">2,068,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">1,077,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">6,185,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">3,295,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="padding-bottom: 2px; background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif">Commissions and fees attributed to assets acquired from StockCross</div>
</td>
<td style="padding-bottom: 2px; background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Commissions and fees</div>
</td>
<td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">397,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">&#8212;</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">1,466,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">&#8212;</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;Total Revenue from Commissions and fees</div>
</td>
<td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">2,465,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">1,077,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">7,651,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">3,295,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">Revenue from Margin interest, marketing and distribution fees:</div>
</td>
<td style="width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif">Margin interest, marketing and distribution&#160;fees &#8211; non StockCross</div>
</td>
<td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Margin interest, marketing and distribution fees</div>
</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">2,409,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">1,850,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">7,049,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">4,477,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="padding-bottom: 2px; background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; text-indent: 0pt; font: 10pt Times New Roman, Times, serif; margin-left: 9pt">Margin interest, marketing and distribution fees attributed<br />
 to assets acquired from StockCross</div>
</td>
<td style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 20%; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">Margin interest, marketing and distribution fees</div>
</td>
<td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">322,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">&#8212;</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">904,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">&#8212;</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #cceeff; width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Total Revenue from Margin interest, marketing and distribution fees</div>
</td>
<td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">2,731,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">1,850,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">7,953,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">4,477,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
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<td style="background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
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<div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">Other Revenue:</div>
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<td style="width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
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<div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif">Interest &#8211; non StockCross</div>
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<td style="background-color: #cceeff; width: 20%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Interest</div>
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<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">4,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">69,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">9,000</div>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 32%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif">Advisory fees &#8211; non StockCross</div>
</td>
<td style="background-color: #ffffff; width: 20%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Advisory fees</div>
</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">20,000</div>
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<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">4,000</div>
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<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">38,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">16,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
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<tr>
<td style="padding-bottom: 2px; width: 32%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="padding-bottom: 2px; width: 20%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
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<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Total Revenue</div>
</td>
<td style="padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
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<div style="font: 10pt Times New Roman, Times, serif">7,884,000</div>
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<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 4px double; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">3,089,000</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 4px double; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
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<td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">23,549,000</div>
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<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 4px double; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">8,157,000</div>
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<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
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<div>&#160;</div>

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<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">September 30, 2018</div>
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<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
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<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Current income taxes</div>
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<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
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<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="background-color: #cceeff; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
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<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
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<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">300,000</div>
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<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
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<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">847,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="padding-bottom: 2px; background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt">State</div>
</td>
<td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">58,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">61,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 72%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">358,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">908,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="width: 72%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 11%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; width: 11%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Deferred tax benefit</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 72%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt">Federal</div>
</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(423,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(423,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
</tr>

<tr>
<td style="padding-bottom: 2px; background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt">State</div>
</td>
<td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(970,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
<td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(970,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 72%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(1,393,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(1,393,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
</tr>

<tr>
<td style="padding-bottom: 2px; width: 72%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="text-align: right; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; width: 11%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; width: 11%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="padding-bottom: 4px; background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Total (Benefit) from income taxes</div>
</td>
<td style="text-align: right; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(1,035,000</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
<td style="text-align: right; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(485,000</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div></td></tr></table></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock', window );">Schedule of Reconciliation of Income Tax Provision and Statutory Federal Tax Rate</a></td>
<td class="text"><div><div style="text-align: justify; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">The reconciliation between the income tax provision and income taxes computed by applying the statutory federal income tax rate to income before income taxes for the three months and nine months ended September 30, 2018 is as follows:</div>
</div>

<div>&#160;</div>

<div>
<div>
<table id="zdf7e8cffa39844bb93b44803ecf27683" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 92%; font: 10pt Times New Roman, Times, serif">
<tr>
<td style="padding-bottom: 2px; width: 72%; vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom">
<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">Three Months Ended</div>

<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">September 30, 2018</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom">
<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">Nine Months Ended</div>

<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">September 30, 2018</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #cceeff; width: 72%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Expected income tax at statutory federal tax rate (21%)</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">438,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">1,286,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 72%; vertical-align: bottom; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt">Tax amortization of intangible assets</div>
</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(70,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(210,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
</tr>

<tr>
<td style="background-color: #cceeff; width: 72%; vertical-align: bottom; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt">Depreciation</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">8,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">19,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 72%; vertical-align: bottom; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt">Net operating loss</div>
</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(47,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(141,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
</tr>

<tr>
<td style="background-color: #cceeff; width: 72%; vertical-align: bottom; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt">Temporary differences - charitable contributions</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">4,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(57,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
</tr>

<tr>
<td style="background-color: #ffffff; width: 72%; vertical-align: bottom; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt">State taxes</div>
</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">25,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">11,000</div>
</td>
<td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="padding-bottom: 2px; background-color: #cceeff; width: 72%; vertical-align: bottom; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif; margin-left: 7.2pt">Reversal of valuation allowance</div>
</td>
<td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(1,393,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(1,393,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
</tr>

<tr>
<td style="padding-bottom: 4px; background-color: #ffffff; width: 72%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Total (Benefit) from income taxes</div>
</td>
<td style="text-align: right; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(1,035,000</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(485,000</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div></td></tr></table></div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock', window );">Schedule of Deferred Tax Assets</a></td>
<td class="text"><div><div style="text-align: justify; text-indent: 45pt; font: 10pt Times New Roman, Times, serif">The primary item giving rise to the deferred tax asset is as follows:</div>

<div><br />
</div>

<table id="z81fdb9181a304719b95c4ff9d068f3a7" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 92%; font: 10pt Times New Roman, Times, serif">
<tr>
<td style="background-color: #cceeff; width: 86%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Net operating loss carryforwards</div>
</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">6,619,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="padding-bottom: 2px; background-color: #ffffff; width: 86%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; text-indent: 9pt; font: 10pt Times New Roman, Times, serif">Valuation allowance</div>
</td>
<td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">(5,226,000</div>
</td>
<td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">
<div style="font: 10pt Times New Roman, Times, serif">)</div>
</td>
</tr>

<tr>
<td style="padding-bottom: 4px; background-color: #cceeff; width: 86%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: left; font: 10pt Times New Roman, Times, serif">Net deferred tax asset</div>
</td>
<td style="padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 11%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">1,393,000</div>
</td>
<td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td></tr></table></div><span></span>
</td>
</tr>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6785776784">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Leases (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeasesAbstract', window );"><strong>Leases [Abstract]</strong></a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock', window );">Schedule of future minimum base rental payments</a></td>
<td class="text"><div><div style="text-align: justify; text-indent: 45pt; font: 10pt Times New Roman, Times, serif">In addition to the leases stated in our 2017 Form 10-K, the Company committed to the below lease. The future minimum base rental payments under this operating lease are as follows:</div>

<div><br />
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<table id="zf1b3f2d156f14184a742a52fea6066b3" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 92%; font: 10pt Times New Roman, Times, serif">
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<td style="vertical-align: middle; vertical-align: bottom">&#160;</td>
<td style="vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="vertical-align: middle; vertical-align: bottom">
<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">Total</div>
</td>
<td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="vertical-align: middle; vertical-align: bottom">
<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">2019</div>
</td>
<td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="vertical-align: middle; vertical-align: bottom">
<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">2020</div>
</td>
<td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="vertical-align: middle; vertical-align: bottom">
<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">2021</div>
</td>
<td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="vertical-align: middle; vertical-align: bottom">
<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">2022</div>
</td>
<td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="vertical-align: middle; vertical-align: bottom">
<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">2023</div>
</td>
<td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td colspan="2" style="vertical-align: middle; vertical-align: bottom">
<div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">Later Years</div>
</td>
<td style="text-align: left; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
</tr>

<tr>
<td style="background-color: #cceeff; width: 16%; vertical-align: middle; vertical-align: bottom">
<div style="text-align: center; font: 10pt Times New Roman, Times, serif">Jersey City Office</div>
</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">2,212,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">382,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">428,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">441,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">454,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">468,000</div>
</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom; white-space: nowrap">&#160;</td>
<td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td>
<td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">$</div>
</td>
<td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">
<div style="font: 10pt Times New Roman, Times, serif">39,000</div>
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</div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br></p></div>
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<tr>
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<th class="th" colspan="1">1 Months Ended</th>
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<tr><th class="th">
<div>Aug. 21, 2018 </div>
<div>USD ($)</div>
</th></tr>
<tr class="rh">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109124213&amp;loc=d3e6613-128477<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109124213&amp;loc=d3e6578-128477<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6614864608">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Per Share Data (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">$ 3,119,000<span></span>
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<td class="nump">$ 1,001,000<span></span>
</td>
<td class="nump">$ 6,611,000<span></span>
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<td class="nump">$ 1,425,000<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669619-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669625-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6628535568">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Net Capital (Details)<br></strong></div></th>
<th class="th">
<div>Sep. 30, 2018 </div>
<div>USD ($)</div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum net capital required to be maintained to engage in securities transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher SEC<br> -Name Rule 15c3-1<br> -Number 240<br> -Section 15c3-1<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher SEC<br> -Name Rule 15c3-1<br> -Number 240<br> -Section 15c3-1<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6795433552">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue Recognition (Disaggregation of revenue) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrincipalTransactionsRevenue', window );">Total revenue from Principal transactions</a></td>
<td class="nump">$ 2,634,000<span></span>
</td>
<td class="nump">$ 154,000<span></span>
</td>
<td class="nump">$ 7,838,000<span></span>
</td>
<td class="nump">$ 360,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_SIEB_RevenueFromCommissionsAndFees', window );">Total revenue from Commissions and fees</a></td>
<td class="nump">2,465,000<span></span>
</td>
<td class="nump">1,077,000<span></span>
</td>
<td class="nump">7,651,000<span></span>
</td>
<td class="nump">3,295,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_SIEB_OtherFinancialServicesRevenue', window );">Total revenue from Margin interest, marketing and distribution fees</a></td>
<td class="nump">2,731,000<span></span>
</td>
<td class="nump">1,850,000<span></span>
</td>
<td class="nump">7,953,000<span></span>
</td>
<td class="nump">4,477,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherInterestAndDividendIncome', window );">Total revenue from Interest</a></td>
<td class="nump">34,000<span></span>
</td>
<td class="nump">4,000<span></span>
</td>
<td class="nump">69,000<span></span>
</td>
<td class="nump">9,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_SIEB_AdvisoryFeesRevenue', window );">Total revenue from Advisory fees</a></td>
<td class="nump">20,000<span></span>
</td>
<td class="nump">4,000<span></span>
</td>
<td class="nump">38,000<span></span>
</td>
<td class="nump">16,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total Revenue</a></td>
<td class="nump">7,884,000<span></span>
</td>
<td class="nump">3,089,000<span></span>
</td>
<td class="nump">23,549,000<span></span>
</td>
<td class="nump">8,157,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=SIEB_NonStockCrossMember', window );">Non StockCross [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherInterestAndDividendIncome', window );">Total revenue from Interest</a></td>
<td class="nump">34,000<span></span>
</td>
<td class="nump">4,000<span></span>
</td>
<td class="nump">69,000<span></span>
</td>
<td class="nump">9,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_SIEB_AdvisoryFeesRevenue', window );">Total revenue from Advisory fees</a></td>
<td class="nump">20,000<span></span>
</td>
<td class="nump">4,000<span></span>
</td>
<td class="nump">38,000<span></span>
</td>
<td class="nump">16,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=SIEB_PrincipalTransactionsMember', window );">Principal transactions [Member] | Non StockCross [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrincipalTransactionsRevenue', window );">Total revenue from Principal transactions</a></td>
<td class="nump">437,000<span></span>
</td>
<td class="nump">154,000<span></span>
</td>
<td class="nump">1,514,000<span></span>
</td>
<td class="nump">360,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=SIEB_PrincipalTransactionsMember', window );">Principal transactions [Member] | Assets acquired from StockCross [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrincipalTransactionsRevenue', window );">Total revenue from Principal transactions</a></td>
<td class="nump">2,197,000<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">6,324,000<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=SIEB_CommissionsAndFeesMember', window );">Commissions and fees [Member] | Non StockCross [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_SIEB_RevenueFromCommissionsAndFees', window );">Total revenue from Commissions and fees</a></td>
<td class="nump">2,068,000<span></span>
</td>
<td class="nump">1,077,000<span></span>
</td>
<td class="nump">6,185,000<span></span>
</td>
<td class="nump">3,295,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=SIEB_CommissionsAndFeesMember', window );">Commissions and fees [Member] | Assets acquired from StockCross [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_SIEB_RevenueFromCommissionsAndFees', window );">Total revenue from Commissions and fees</a></td>
<td class="nump">397,000<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,466,000<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=SIEB_MarginInterestMarketingAndDistributionFeesMember', window );">Margin interest, marketing and distribution fees [Member] | Non StockCross [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_SIEB_OtherFinancialServicesRevenue', window );">Total revenue from Margin interest, marketing and distribution fees</a></td>
<td class="nump">2,409,000<span></span>
</td>
<td class="nump">1,850,000<span></span>
</td>
<td class="nump">7,049,000<span></span>
</td>
<td class="nump">4,477,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=SIEB_MarginInterestMarketingAndDistributionFeesMember', window );">Margin interest, marketing and distribution fees [Member] | Assets acquired from StockCross [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_SIEB_OtherFinancialServicesRevenue', window );">Total revenue from Margin interest, marketing and distribution fees</a></td>
<td class="nump">$ 322,000<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 904,000<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_SIEB_AdvisoryFeesRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Advisory fees revenue.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">SIEB_AdvisoryFeesRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>SIEB_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_SIEB_OtherFinancialServicesRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of fees and financial services revenue classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">SIEB_OtherFinancialServicesRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>SIEB_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_SIEB_RevenueFromCommissionsAndFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenue from commissions and fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">SIEB_RevenueFromCommissionsAndFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>SIEB_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisaggregationOfRevenueLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisaggregationOfRevenueLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherInterestAndDividendIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after discount, accretion and premium amortization, of interest income and dividend income classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherInterestAndDividendIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrincipalTransactionsRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of realized and unrealized gain (loss) resulting from the difference between acquisition price and selling price or fair value of trading assets and trading liabilities, and from the firm's direct investment activity, conducted separately from customer trading activities, including, but not limited to, investments in private equity, alternative investment products, real estate, and exchanges and memberships.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 940<br> -SubTopic 320<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=35711157&amp;loc=d3e42567-110969<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrincipalTransactionsRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8933-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
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<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=SIEB_NonStockCrossMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=SIEB_PrincipalTransactionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=SIEB_PrincipalTransactionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=SIEB_AssetsAcquiredFromStockCrossMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=SIEB_AssetsAcquiredFromStockCrossMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=SIEB_CommissionsAndFeesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=SIEB_CommissionsAndFeesMember</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=SIEB_MarginInterestMarketingAndDistributionFeesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=SIEB_MarginInterestMarketingAndDistributionFeesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<head>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6794900416">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Provision for Income Taxes (Narrative) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsLineItems', window );"><strong>Operating Loss Carryforwards [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations', window );">Effective tax rate from continuing operations</a></td>
<td class="num">(50.00%)<span></span>
</td>
<td class="num">(8.00%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate', window );">Applicable federal income tax rate</a></td>
<td class="nump">21.00%<span></span>
</td>
<td class="nump">21.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">34.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDeferredIncomeTaxes', window );">Changes in deferred tax asset</a></td>
<td class="num">$ (1,393,000)<span></span>
</td>
<td class="num">$ (1,393,000)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsGross', window );">Deferred tax asset</a></td>
<td class="nump">6,619,000<span></span>
</td>
<td class="nump">6,619,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsValuationAllowance', window );">Valuation allowance</a></td>
<td class="nump">5,226,000<span></span>
</td>
<td class="nump">5,226,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance', window );">Reversal of valuation allowance</a></td>
<td class="num">(1,393,000)<span></span>
</td>
<td class="num">(1,393,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityNameAxis=us-gaap_InternalRevenueServiceIRSMember', window );">Internal Revenue Code [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsLineItems', window );"><strong>Operating Loss Carryforwards [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_SIEB_NetOperatingLossCarryforwardAnnualLimitation', window );">Net operating loss carryforward, annual limitation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">900,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_DomesticCountryMember', window );">Federal [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsLineItems', window );"><strong>Operating Loss Carryforwards [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwards', window );">Net operating loss carryforward</a></td>
<td class="nump">22,657,000<span></span>
</td>
<td class="nump">22,657,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_StateAndLocalJurisdictionMember', window );">State [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsLineItems', window );"><strong>Operating Loss Carryforwards [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwards', window );">Net operating loss carryforward</a></td>
<td class="nump">$ 15,834,000<span></span>
</td>
<td class="nump">$ 15,834,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_SIEB_NetOperatingLossCarryforwardAnnualLimitation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Annual limitation on net operating loss carryforwards due to IRS rules.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">SIEB_NetOperatingLossCarryforwardAnnualLimitation</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsGross</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsValuationAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateContinuingOperations</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of domestic federal statutory tax rate applicable to pretax income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to increase (decrease) in the valuation allowance for deferred tax assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e32123-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDeferredIncomeTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the account that represents the temporary difference that results from Income or Loss that is recognized for accounting purposes but not for tax purposes and vice versa.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDeferredIncomeTaxes</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32559-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLossCarryforwards</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLossCarryforwardsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLossCarryforwardsLineItems</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
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<tr>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6795598288">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Provision for Income Taxes (Schedule of Income Taxes) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentFederalStateAndLocalTaxExpenseBenefitAbstract', window );"><strong>Current income taxes</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentFederalTaxExpenseBenefit', window );">Federal</a></td>
<td class="nump">$ 300,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 847,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentStateAndLocalTaxExpenseBenefit', window );">State</a></td>
<td class="nump">58,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">61,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentFederalStateAndLocalTaxExpenseBenefit', window );">Current income taxes</a></td>
<td class="nump">358,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">908,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFederalStateAndLocalTaxExpenseBenefitAbstract', window );"><strong>Deferred tax benefit</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFederalIncomeTaxExpenseBenefit', window );">Federal</a></td>
<td class="num">(423,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(423,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit', window );">State</a></td>
<td class="num">(970,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(970,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFederalStateAndLocalTaxExpenseBenefit', window );">Deferred tax benefit</a></td>
<td class="num">(1,393,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,393,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Total (Benefit) from income taxes</a></td>
<td class="num">$ (1,035,000)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">$ (485,000)<span></span>
</td>
<td class="text"> <span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current state, local, and federal tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current federal tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current state and local tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred federal income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred state, local, and federal tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred state and local tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
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<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Provision for Income Taxes (Schedule of Reconciliation of Income Tax Provision and Statutory Federal Tax Rate) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
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<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">21.00%<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">34.00%<span></span>
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<td class="nump">$ 1,286,000<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationNondeductibleExpenseAmortization', window );">Tax amortization of intangible assets</a></td>
<td class="num">(70,000)<span></span>
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<td class="text">&#160;<span></span>
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<td class="num">(210,000)<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="nump">8,000<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">19,000<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
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<td class="num">(47,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(141,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationNondeductibleExpense', window );">Temporary differences - charitable contributions</a></td>
<td class="nump">4,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(57,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes', window );">State taxes</a></td>
<td class="nump">25,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance', window );">Reversal of valuation allowance</a></td>
<td class="num">(1,393,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,393,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Total (Benefit) from income taxes</a></td>
<td class="num">$ (1,035,000)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">$ (485,000)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of domestic federal statutory tax rate applicable to pretax income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate</td>
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<tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (h)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109238882&amp;loc=d3e38679-109324<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to increase (decrease) in the valuation allowance for deferred tax assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e32123-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax expense or benefit for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationNondeductibleExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to nondeductible expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationNondeductibleExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationNondeductibleExpenseAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to nondeductible amortization.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationNondeductibleExpenseAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationNondeductibleExpenseDepreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to nondeductible depreciation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationNondeductibleExpenseDepreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationOtherAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other adjustments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationOtherAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to state and local income tax expense (benefit).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>37
<FILENAME>R28.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6627427072">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Provision for Income Taxes (Schedule of Deferred Tax Assets) (Details)<br></strong></div></th>
<th class="th">
<div>Sep. 30, 2018 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsLineItems', window );"><strong>Operating Loss Carryforwards [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsValuationAllowance', window );">Valuation allowance</a></td>
<td class="num">$ (5,226,000)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityNameAxis=SIEB_NetOperatingLossCarryforwardMember', window );">Net Operating Loss Carryforward [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsLineItems', window );"><strong>Operating Loss Carryforwards [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards', window );">Net operating loss carryforwards</a></td>
<td class="nump">6,619,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsValuationAllowance', window );">Valuation allowance</a></td>
<td class="num">(5,226,000)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNet', window );">Net deferred tax asset</a></td>
<td class="nump">$ 1,393,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b),(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=115928272&amp;loc=d3e28680-109314<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsOperatingLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsValuationAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLossCarryforwardsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLossCarryforwardsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxAuthorityNameAxis=SIEB_NetOperatingLossCarryforwardMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxAuthorityNameAxis=SIEB_NetOperatingLossCarryforwardMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>38
<FILENAME>R29.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6785117520">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Party Transactions (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrentAndNoncurrent', window );">Due to related party</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 127,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=SIEB_StockCrossMember', window );">StockCross [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromRelatedParties', window );">Related party revenues</a></td>
<td class="nump">2,916,000<span></span>
</td>
<td class="nump">8,694,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyCosts', window );">Related party expenses</a></td>
<td class="nump">307,000<span></span>
</td>
<td class="nump">1,271,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_SIEB_DueFromStockcross', window );">Due from Stockcross</a></td>
<td class="nump">1,625,000<span></span>
</td>
<td class="nump">1,625,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_SIEB_InsuranceCommissionsAndFeesReceivedFromRelatedParty', window );">Insurance commissions and fees received from related party</a></td>
<td class="nump">$ 14,000<span></span>
</td>
<td class="nump">$ 14,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_SIEB_DueFromStockcross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Due from StockCross.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">SIEB_DueFromStockcross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>SIEB_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_SIEB_InsuranceCommissionsAndFeesReceivedFromRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Insurance commissions and fees received from related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">SIEB_InsuranceCommissionsAndFeesReceivedFromRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>SIEB_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of obligations due all related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.15(3),(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Direct costs arising from transactions with related parties who are not affiliates or joint Ventures. These costs are categorized as cost of goods sold.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07.1(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873854&amp;loc=SL114874292-224272<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=SIEB_StockCrossMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=SIEB_StockCrossMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6785756368">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Liabilities (Details)<br></strong></div></th>
<th class="th">
<div>Sep. 30, 2018 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesDisclosureAbstract', window );"><strong>Other Liabilities Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedSalesCommissionCurrentAndNoncurrent', window );">Commissions payable</a></td>
<td class="nump">$ 312,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedSalesCommissionCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred through that date and payable for sales commissions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(15)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15)(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(24))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedSalesCommissionCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilitiesDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherLiabilitiesDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>40
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6629407600">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Leases (Schedule of future minimum base rental payment) (Details)<br></strong></div></th>
<th class="th">
<div>Sep. 30, 2018 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeasesAbstract', window );"><strong>Leases [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent', window );">2019</a></td>
<td class="nump">$ 382,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears', window );">2020</a></td>
<td class="nump">428,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears', window );">2021</a></td>
<td class="nump">441,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears', window );">2022</a></td>
<td class="nump">454,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears', window );">2023</a></td>
<td class="nump">468,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter', window );">Later Years</a></td>
<td class="nump">39,000<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDue', window );">Total</a></td>
<td class="nump">$ 2,212,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LeasesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LeasesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>KCAT Acquisition and Software (Details) - Kennedy Cabot Acquisition [Member]<br></strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
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<div>Aug. 21, 2018 </div>
<div>USD ($)</div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average amortization period of finite-lived intangible assets acquired either individually or as part of a group of assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16265-109275<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109124213&amp;loc=d3e6613-128477<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6927-128479<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109124213&amp;loc=d3e6578-128477<br></p></div>
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end
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>43
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>44
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
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	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
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	vertical-align: top;
	white-space: normal;
	width: 200px;
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}

..report td.pl a.a {
	cursor: pointer;
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
