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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue        
Commissions and fees $ 2,603,000 $ 1,858,000 $ 4,903,000 $ 3,705,000
Interest, marketing and distribution fees 7,835,000 7,416,000 16,598,000 14,389,000
Principal transactions and proprietary trading 3,574,000 2,654,000 7,080,000 5,454,000
Market making 437,000 268,000 1,109,000 613,000
Stock borrow / stock loan 4,696,000 4,513,000 8,794,000 7,955,000
Advisory fees 551,000 471,000 1,041,000 915,000
Other income 1,167,000 412,000 1,794,000 731,000
Total Revenue 20,863,000 17,592,000 41,319,000 33,762,000
Expenses        
Employee compensation and benefits 10,307,000 8,080,000 20,683,000 15,047,000
Clearing fees, including execution costs 238,000 329,000 666,000 684,000
Technology and communications 880,000 793,000 1,756,000 1,582,000
Other general and administrative 1,070,000 1,119,000 2,099,000 2,212,000
Data processing 732,000 741,000 1,483,000 1,592,000
Rent and occupancy 378,000 491,000 875,000 969,000
Professional fees 1,240,000 1,007,000 2,277,000 2,081,000
Depreciation and amortization 336,000 261,000 591,000 451,000
Interest expense 60,000 94,000 111,000 182,000
Advertising and promotion 43,000 18,000 97,000 (10,000)
Total Expenses 15,284,000 12,933,000 30,638,000 24,790,000
Operating income 5,579,000 4,659,000 10,681,000 8,972,000
Impairment of investments (1,035,000) (1,035,000)
Earnings of equity method investment in related party 73,000 111,000
Non-operating loss (962,000) (924,000)
Income before provision for income taxes 5,579,000 3,697,000 10,681,000 8,048,000
Provision for income taxes 1,532,000 969,000 2,947,000 2,105,000
Net income 4,047,000 2,728,000 7,734,000 5,943,000
Less net income attributable to noncontrolling interests 7,000 25,000 6,000 44,000
Net income available to common stockholders $ 4,040,000 $ 2,703,000 $ 7,728,000 $ 5,899,000
Net income available to common stockholders per share of common stock        
Basic (in Dollars per share) $ 0.1 $ 0.07 $ 0.19 $ 0.17
Weighted average shares outstanding        
Basic (in Shares) 39,890,606 36,410,018 39,830,002 34,468,460