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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Assets:    
Cash, cash equivalents and restricted cash $ 8,486 $ 7,621
Receivables, net:    
Commissions receivable 9,198 8,220
Due from Clearing Broker 873 631
Other 938 1,587
Property and equipment, net 599 974
Right of use assets 3,730 4,332
Intangible assets, net 1,021 1,580
Goodwill 39,839 39,839
Other assets 1,993 2,626
TOTAL ASSETS 66,677 67,410
Liabilities:    
Accounts payable, accrued expenses and other liabilities 10,208 9,082
Commissions payable 11,468 10,676
Operating lease liabilities 3,820 4,381
Notes payable, net of unamortized debt issuance costs of $739 and $645 as of December 31, 2024 and 2023, respectively 19,561 20,822
Promissory notes-affiliates 5,442 12,177
Due to members 0 5,169
TOTAL LIABILITIES 50,499 62,307
Stockholders' Equity and Members' Equity:    
Common stock, $0.0001 par value, 55,000,000 authorized, 16,602,460 issued and outstanding at December 31, 2024 0 0
Additional paid-in-capital 22,984 0
Accumulated deficit (23,253) 0
Members' Equity attributed to Legacy BMS Management Services LLC 0 5,103
Total Stockholders' Equity, Mezzanine Equity and Members' Equity Attributable to BMS Management Services LLC 16,178 5,103
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY 66,677 67,410
Series A Redeemable Convertible Preferred Stock    
Mezzanine Equity:    
Redeemable Series A Convertible Preferred Stock, par value $0.0001, 2,000,000 shares authorized, 1,555,000 shares outstanding at December 31, 2024 14,947 0
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 December 31, 2024 $ 1,500 $ 0