v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Assets:    
Cash, cash equivalents and restricted cash $ 10,909 $ 10,716
Receivables, net:    
Commission receivable 10,901 10,441
Due from clearing broker 764 707
Other 1,199 1,261
Property and equipment, net 273 342
Right of use assets 3,308 3,097
Intangible assets, net 496 671
Goodwill 39,839 39,839
Other assets 3,494 3,141
TOTAL ASSETS 71,183 70,215
Liabilities:    
Accounts payable, accrued expenses and other liabilities 11,968 13,103
Commissions payable 12,957 12,632
Operating lease liabilities 3,425 3,221
Notes payable, net of unamortized debt issuance costs of $553 and $590 as of June 30, 2026 and December 31, 2025, respectively 16,738 17,679
Promissory notes-affiliates 5,313 5,313
TOTAL LIABILITIES 50,401 51,948
Stockholders' Equity:    
Common stock, $0.0001 par value, 55,000,000 authorized, 16,810,131 and 16,716,000 issued and outstanding at June 30, 2026 and December 31, 2025, respectively 0 0
Additional paid-in-capital 23,465 23,709
Accumulated deficit (20,258) (22,496)
Accumulated other comprehensive income (loss) 37 (114)
Total Stockholders' Equity and Mezzanine Equity 20,782 18,267
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY 71,183 70,215
Redeemable Series A Convertible Preferred Stock    
Mezzanine Equity:    
Redeemable Series A Convertible Preferred Stock, par value $0.0001, 2,000,000 shares authorized, 1,644,000 and 1,626,000 shares outstanding at June 30, 2026 and December 31, 2025, respectively 16,038 15,668
Series B Convertible Preferred Stock    
Stockholders' Equity:    
Series B Convertible Preferred Stock, par value $0.0001, 500,000 shares authorized, 150,000 shares issued and outstanding at June 30, 2026 and December 31, 2025 $ 1,500 $ 1,500