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Organization and Basis of Presentation (Tables) | 3 Months Ended
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Mar. 31, 2024
Organization and Basis of Presentation [Abstract] |
Schedule of Consolidated Financial Statements | The below table represents activity during the intervening period of March 29, 2024 to March 31, 2024 that impacted the consolidated financial statements as reported:
|  | As of March 31, 2024 |
|  | Amounts Presented in the Consolidated Statement of Financial Condition |  |  | March 29 - 31, 2024 Activity |  |  | Adjusted Amount |
Assets |  |  |  |  |  |  |  |  |
Cash |  | $ | 2,856,000 |  |  |  | 4,771,000 |  |  |  | 7,627,000 |
Receivables from non-customers |  | $ | 646,000 |  |  |  | (8,000 | ) |  |  | 638,000 |
Other receivables |  | $ | 2,620,000 |  |  |  | (265,000 | ) |  |  | 2,355,000 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Drafts payable |  | $ | 1,834,000 |  |  |  | (1,191,000 | ) |  |  | 643,000 |
Bank loans |  | $ | 4,800,000 |  |  |  | (4,800,000 | ) |  |  | — |
Payables to customers |  | $ | 248,339,000 |  |  |  | 10,480,000 |  |  |  | 258,819,000 |
Stockholders’ equity |  |  |  |  |  |  |  |  |  |  |  |
Retained earnings |  | $ | 30,496,000 |  |  |  | 9,000 |  |  |  | 30,505,000 |
Schedule of Consolidated Statements of Operations |
|  | Three Months Ended March 31, 2024 |
|  | Amounts Presented in the Condensed Consolidated Statements of Operations |  |  | March 29 - 31, 2024 Activity |  |  | Adjusted Amount |
Revenue |  |  |  |  |  |  |  |  |
Other income |  | $ | 627,000 |  |  |  | 9,000 |  |  |  | 636,000 |
Schedule of Company’s Recognized Assets and Liabilities | The potential effect of rights of setoff associated with the Company’s recognized assets and liabilities related to the Company’s securities borrowing and securities lending activity is as follows as of the periods presented.
|  | As of March 31, 2024 |
|  | Gross Amounts of Recognized Assets and Liabilities |  |  | Gross Amounts Offset in the Consolidated Statements of Financial Condition1 |  |  | Net Amounts Presented in the Consolidated Statements of Financial Condition |  |  | Collateral Received or Pledged2 |  |  | Net Amount3 |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities borrowed |  | $ | 383,670,000 |  |  |  | — |  |  |  | 383,670,000 |  |  | $ | 363,742,000 |  |  | $ | 19,928,000 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities loaned |  | $ | 389,474,000 |  |  |  | — |  |  |  | 389,474,000 |  |  | $ | 381,888,000 |  |  | $ | 7,586,000 |
|  | As of December 31, 2023 |
|  | Gross Amounts of Recognized Assets and Liabilities |  |  | Gross Amounts Offset in the Consolidated Statements of Financial Condition1 |  |  | Net Amounts Presented in the Consolidated Statements of Financial Condition |  |  | Collateral Received or Pledged2 |  |  | Net Amount3 |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities borrowed |  | $ | 394,709,000 |  |  |  | — |  |  |  | 394,709,000 |  |  | $ | 371,076,000 |  |  | $ | 23,633,000 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities loaned |  | $ | 419,433,000 |  |  |  | — |  |  |  | 419,433,000 |  |  | $ | 404,312,000 |  |  | $ | 15,121,000 |

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