v3.25.2
Discontinued Operations (Tables)
 12 Months Ended
Dec. 31, 2024
Discontinued Operations [Abstract]  
Schedule of Net Assets Deconsolidated

The following table presents the composition of Webull Pay Inc.’s net assets deconsolidated as of July 14, 2023:

 

Assets:    
Cash and cash equivalents and segregated cash  $7,162,982 
Receivables from brokers, dealers, and clearing organizations   479,145 
Prepaid expenses and other assets   666,872 
Right-of-use asset   173,623 
Liabilities:     
Accrued expenses and other current liabilities   (1,290,637)
Operating lease liabilities   (177,391)
Net assets distributed  $7,014,594 
Schedule of Major Classes of Line Items Constituting Pretax Income of the Discontinued Operations

The following table presents the major classes of line items constituting pretax income of the discontinued operations for the years ended 2024, 2023 and 2022: 

 

   2024   2023   2022 
Revenues:            
Handling charge income  $
–
   $3,990,950   $16,491,869 
Interest related income and other   
–
    23,619    76,010 
Operating Expenses:               
Brokerage and transaction   
–
    3,918    4,350 
Marketing and branding   
–
    118,874    700,994 
General and administrative   
–
    1,586,587    3,202,480 
Pretax income of discontinued operations   
–
    2,305,190    12,660,055 
Income tax (benefit) expense attributable to discontinued operations   (2,691,778)   520,725    (3,943,602)
Income from discontinued operations  $2,691,778   $1,784,465   $16,603,657