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Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2019
Acquisitions Abstract |
Schedule of Allocation of Purchase Price | The following table summarizes the Company’s allocation of the purchase price as of the date of acquisition:
Purchase Price Allocation |  | Estimated Fair Value |
Cash and cash equivalents |  | $ | 301,000 |
Cash segregated under federal regulations |  |  | 152,000 |
Receivables from clearing broker dealers |  |  | 4,616,000 |
Furniture, equipment and leasehold improvements, net |  |  | 41,000 |
Software, net |  |  | 51,000 |
Intangible assets, net |  |  | 1,057,000 |
Lease right-of-use assets |  |  | 214,000 |
Other assets |  |  | 271,000 |
Total Assets acquired |  |  | 6,703,000 |
Accounts payable and accrued liabilities |  |  | 1,353,000 |
Lease liabilities |  |  | 214,000 |
Total Liabilities acquired |  |  | 1,567,000 |
Net Assets acquired |  |  | 5,136,000 |
Goodwill |  |  | 1,989,000 |
Purchase price |  | $ | 7,125,000
Schedule of Revenues and Net Income from Continuing Operations | The following table summarizes the revenue and net income from continuing operations of Weeden Prime included in the Company’s statement of income for the year ending December 31, 2019 since the date of acquisition (for the 31-day period ending December 31, 2019):
Weeden Prime |  |  |
Revenue |  | $ | 968,000 |
Net income from continuing operations |  | $ | 203,000 |
Schedule of Pro Forma Consolidated Information | The following pro forma summary presents consolidated statements of income of the Company as if the acquisition of Weeden Prime had occurred on January 1, 2018, inclusive of pro forma adjustments (unaudited):
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |
Revenue |  | $ | 39,746,000 |  |  | $ | 42,987,000 |
Net income |  | $ | 2,485,000 |  |  | $ | 11,102,000

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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