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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value

The following tables present the Company's fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of the periods presented.

		As of September 30, 2020
		Level 1				Level 2				Level 3				Total
Assets
Cash and cash equivalents
Certificates of deposit		$	—			$	142,000			$	—			$	142,000
Securities owned, at fair value
U.S. government securities*		$	2,028,000			$	—			$	—			$	2,028,000
Certificates of deposit			—				91,000				—				91,000
Corporate bonds			—				120,000				—				120,000
Equity securities			765,000				343,000				—				1,108,000
Mutual funds			133,000				—				—				133,000
Total Securities owned, at fair value		$	2,926,000			$	554,000			$	—			$	3,480,000
Liabilities
Securities sold, not yet purchased, at fair value
Equity securities		$	—			$	25,000			$	—			$	25,000
Total Securities sold, not yet purchased, at fair value		$	—			$	25,000			$	—			$	25,000

*As of September 30, 2020, U.S. government securities mature on 08/31/2021

		As of December 31, 2019
		Level 1				Level 2				Level 3				Total
Assets
Cash and cash equivalents
Certificates of deposit		$	—			$	142,000			$	—			$	142,000
Segregated securities
U.S. government securities		$	1,311,000				—				—			$	1,311,000
Securities owned, at fair value
U.S. government securities		$	2,007,000			$	—			$	—			$	2,007,000
Corporate bonds			—				25,000				—				25,000
Equity securities			453,000				245,000				288,000				986,000
Total Securities owned, at fair value		$	2,460,000			$	270,000			$	288,000			$	3,018,000
Liabilities
Securities sold, not yet purchased, at fair value
Equity securities		$	88,000			$	28,000			$	—			$	116,000
Total Securities sold, not yet purchased, at fair value		$	88,000			$	28,000			$	—			$	116,000

Schedule of Changes in Level 3 Equity Assets

		Changes in Level 3 Equity Assets
		Nine Months Ended September 30, 2020
		Amount			Valuation Technique	Reason for Change
Balance – January 1, 2020		$	288,000		Liquidation value based on valuation report
Transfers out of level 3			(288,000	)		Sale of equity security
Balance – September 30, 2020		$	—

X

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- References

No definition available.

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X

- Definition

Tabular disclosure of financial instruments held by a broker-dealer for its own account (proprietary securities) for trading or investment purposes that are carried at fair value including securities sold, not yet purchased.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 320
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=35711157&loc=d3e42546-110969

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