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ACQUISITION OF WILSON-DAVIS (Tables)

12 Months Ended

Jun. 30, 2025

ACQUISITION OF WILSON-DAVIS

Summary of preliminary allocation of the purchase price

​

​	​	​	​
Cash paid to Wilson-Davis shareholders		$	8,092,569
Short-term notes	​		5,000,000
Long-term notes	​		7,971,197
Value of shares transferred from sponsor	​		6,000,000
Total consideration paid	​		27,063,766
​	​	​	​
Allocated to:	​		​
Cash	​	$	11,333,271
Cash segregated	​		22,000,605
Receivables	​		4,065,148
Trading Securities, market value	​		6,875
Prepaid Income Tax	​		201,125
Accounts payable, accrued expenses and other current liabilities	​		(28,045,034)
Current portion of lease liability	​		(161,212)
Property and equipment	​		23,645
Cash deposit BDs and Clearing Organizations	​		3,536,664
Operating Lease Right-to-Use Lease Assets	​		395,063
Other Assets	​		385,058
Stock loan	​		(1,431,068)
Long-term Lease liability	​		(239,629)
Subordinated Borrowing	​		(1,950,000)
Deferred tax liability	​	​	(3,724,270)
Trading Account deposit	​		(100,000)
Net assets acquired	​		6,296,241
Excess of purchase price over net liabilities assumed before allocation to identifiable intangible assets and goodwill	​	$	20,767,525

Summary of identifiable intangible assets acquired

​	​	​	​	​	​
​		​	​		Estimated
​	​	​	​	​	Useful Life
​	​	Amount		​	(Years)
Customer Lists (a)	​	$	14,625,000		12
Excess of purchase price	​		20,767,525		—
Goodwill	​	$	6,142,525		—

(a) The Wilson Davis customer relationships were valued using the Multi-Period Excess Earnings Method (“MPEEM”). The MPEEM reflects the present value of the operating cash flows generated by existing customer relationships after taking into account the cost to realize the revenue and an appropriate discount rate to reflect the time value and risk associated with the cash flows.

Summary the pro forma financial information

​

​	​	​	​
​		June 30, 2024
Total revenue	​	$	5,247,150
Net loss	​	​	(23,878,060)
​	​	​	​
Weighted average shares	​		​
Basic and diluted	​		196,696
Net loss per shares:	​		​
Basic and diluted	​	$	(121.40)

Summary of pro forma adjustments

​

​	​	​	​
​		June 30, 2024
Transaction cost	​	$	(9,008,053)
Amortization of intangibles	​	$	—
Loss on AtlasClear acquisition	​	$	86,392,769
Interest earned on investments held in trust	​	$	(256,279)

​

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