Receivables from and Payable to Brokers, Dealers and Clearing Organizations

3 Months Ended

Mar. 31, 2019

Due to and from Broker-Dealers and Clearing Organizations [Abstract]

Receivables from and Payable to Brokers, Dealers, and Clearing Organizations

4. Receivables from and Payable to Brokers, Dealers and Clearing Organizations

The Company evaluates receivables from clearing organizations and other brokers for collectability noting no amount was considered uncollectable as of March 31, 2019 and the year ended December 31, 2018. No valuation allowance is recognized for receivables from clearing and other brokers as the Company does not have a history of losses from receivables from clearing and other brokers and does not anticipate losses in the future.

Amounts receivable from / payable to brokers, dealers and clearing organizations consisted of the following as of the periods indicated:

	As of March 31, 2019 (unaudited)		As of December 31, 2018
Receivables from clearing and other brokers
National Financial Services (“NFS”)	$	1,408,000	$	1,664,000
StockCross Financial Services, Inc. (“StockCross”)		708,000		310,000
Other receivables		117,000		31,000
Citibank		42,000		25,000
Total Receivables from clearing and other brokers	$	2,275,000	$	2,030,000

Receivable from related party
StockCross	$	1,000,000	$	1,000,000
Total Receivable from related party	$	1,000,000	$	1,000,000

Due to clearing brokers and related parties
Kennedy Cabot Acquisition, LLC (“KCA”)	$	33,000	$	—
StockCross		21,000		46,000
MSCO		10,000		29,000
NFS		—		58,000
Total Due to clearing brokers and related parties	$	64,000	$	133,000