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CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Assets:    
Cash, cash equivalents and restricted cash $ 8,170 $ 8,486
Receivables, net:    
Commission receivable 9,607 9,198
Due from clearing broker 938 873
Other 1,101 938
Property and equipment, net 454 599
Right of use assets 3,417 3,730
Intangible assets, net 846 1,021
Goodwill 39,839 39,839
Other assets 3,419 1,993
Total Assets 67,791 66,677
Liabilities:    
Accounts payable, accrued expenses and other liabilities 12,234 10,208
Commissions payable 11,709 11,468
Operating lease liabilities 3,528 3,820
Total Liabilities 51,404 50,499
Stockholders' Equity and Members' Equity:    
Common stock, $0.0001 par value, 55,000,000 authorized, 16,602,460 issued and outstanding at June 30, 2025 and December 31, 2024 0 0
Additional paid-in-capital 22,613 22,984
Accumulated deficit (22,874) (23,253)
Accumulated other comprehensive loss (152)  
Total Stockholders' Equity and Mezzanine Equity 16,387 16,178
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY 67,791 66,677
Redeemable Series A Convertible Preferred Stock    
Mezzanine Equity:    
Redeemable Series A Convertible Preferred Stock, par value $0.0001, 2,000,000 shares authorized, 1,590,000 and 1,555,000 shares outstanding at June 30, 2025 and December 31, 2024 15,300 14,947
Series B Convertible Preferred Stock    
Stockholders' Equity and Members' Equity:    
Series B Convertible Preferred Stock, par value $0.0001, 500,000 shares authorized, 150,000 shares outstanding at June 30, 2025 and December 31, 2024 1,500 1,500
Non-related party    
Liabilities:    
Notes payable, net 18,620 19,561
Related party    
Liabilities:    
Notes payable, net $ 5,313 $ 5,442