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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenue                
Commissions and fees $ 4,679,000     $ 2,273,000     $ 15,149,000 $ 7,132,000
Margin interest, marketing and distribution fees 2,311,000     3,912,000     7,730,000 11,161,000
Principal transactions 2,342,000     2,327,000     8,126,000 6,138,000
Interest income 915,000     1,061,000     3,155,000 3,417,000
Market making 423,000     330,000     1,508,000 1,303,000
Stock borrow / stock loan 1,267,000     349,000     2,482,000 1,353,000
Advisory fees 305,000     211,000     810,000 572,000
Other income 333,000     290,000     1,035,000 633,000
Total Revenue 12,575,000     10,753,000     39,995,000 31,709,000
Expenses                
Employee compensation and benefits 6,584,000     4,809,000     20,489,000 13,812,000
Clearing fees, including execution costs 1,270,000     798,000     3,907,000 2,325,000
Technology and communications 1,322,000     441,000     3,256,000 1,264,000
Other general and administrative 455,000     868,000     1,710,000 2,787,000
Data processing 784,000     527,000     2,387,000 1,487,000
Rent and occupancy 694,000     630,000     2,119,000 1,754,000
Professional fees 760,000     783,000     2,159,000 2,568,000
Depreciation and amortization 368,000     244,000     1,193,000 689,000
Referral fees 154,000         427,000
Interest expense 89,000     31,000     253,000 84,000
Total Expenses 12,480,000     9,131,000     37,900,000 26,770,000
Income before provision (benefit) for (from) income taxes 95,000     1,622,000     2,095,000 4,939,000
Provision (benefit) for (from) income taxes (486,000)     349,000     39,000 1,365,000
Net income $ 581,000 $ 499,000 $ 976,000 $ 1,273,000 $ 1,079,000 $ 1,224,000 $ 2,056,000 $ 3,574,000
Net income per share of common stock Basic and diluted $ 0.02     $ 0.04     $ 0.07 $ 0.12
Weighted average shares outstanding Basic and diluted 30,653,710     30,455,962     30,565,822 30,455,962