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RECEIVABLES & PAYABLES WITH BROKER DEALERS AND CLEARING ORGANIZATION

12 Months Ended

Jun. 30, 2025

RECEIVABLES & PAYABLES WITH BROKER DEALERS AND CLEARING ORGANIZATION

RECEIVABLES & PAYABLES WITH BROKER DEALERS AND CLEARING ORGANIZATION

NOTE 6 – RECEIVABLES & PAYABLES WITH BROKER DEALERS AND CLEARING ORGANIZATION

​

Amounts receivable and payable with broker dealers and the clearing organization include:

​

​	​	​	​	​	​	​
​		June 30, 2025			June 30, 2024
Due from clearing organizations, net	​	$	4,021,151	​	$	1,094,453
Fails to deliver and receive	​		158,474	​		238,853
Total receivables	​	$	4,179,625	​	$	1,333,306
​	​	​	​	​	​	​
Due from clearing organizations, net	​	$	481,006	​	$	3,003
Fails to deliver and receive	​		16,654	​		1,912
Total payables	​	$	497,660	​	$	4,915

​

No losses were recognized on the receivables from broker dealers or clearing organizations during the year ended June 30, 2025 or during the transition period ended June 30, 2024.

Accounts receivable from and payable to customers at June 30, 2025, include cash and margin accounts. Securities owned by customers are held as collateral for any unpaid amounts. Such collateral is not reflected in the financial statements. The Company provides an allowance for credit losses, as needed, for accounts in which collection is uncertain. Management periodically evaluates each account on a case-by-case basis to determine impairment. Accounts that are deemed uncollectible are written off to bad debt expense. Bad debt expense net of bad debt recoveries and trading error adjustments for the year ended June 30, 2025 was $396,826, and for the transition

period ended June 30, 2024 was $15,000.

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- References

No definition available.

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- Definition

The entire disclosure for Due to and from Broker-Dealers and Clearing Organizations, including data and tables. This may include amounts receivable from and payable to broker-dealers and clearing organizations, including securities failed to receive, deposits received for securities loaned, amounts payable to clearing organizations related to open transactions, floor brokerage payables and payables for commodities futures accounts liquidating to an equity balance on a broker-dealer's records.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481804/940-20-50-1

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