v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (16,055) $ (14,852)
Adjustments to reconcile net loss to net cash used in operating activities:    
Unrealized loss on investment securities, held by the licensed broker dealer 4,882 3,656
Related party unrealized loss on investment securities, held by the licensed broker dealer 29 [1]
Unrealized loss on investment securities, not held by the licensed broker dealer 177
Stock-based compensation 4,986 6,561
Depreciation of property and equipment 11 11
Deferred costs related to revenue (13) 4
Warrants received as part of investment banking deal (1,020) (990)
Related party warrants received as part of investment banking deal (291)
Stock received in lieu of cash (84)
Portion of loss from equity investment 3,050 1,980
Loss related to dilution events 1,363
Change in ROU Asset 51 46
Change in lease liability (55) (50)
(Increase) decrease in -    
Related party receivables (28) (228)
Accounts receivable (81) (256)
Prepaid expenses and other current assets (615) 104
Clearing deposits 723
Increase (decrease) in -    
Accounts payable 144 (35)
Payables to customers (1,947) (88)
Related party payables (1) 8
Taxes payable 1
Accrued expenses (44)
Net cash used in operating activities (5,540) (3,406)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (87)
Net cash used in investing activities (87)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net cash used in financing activities
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (5,627) (3,406)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH - BEGINNING OF PERIOD 15,548 21,281
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH - END OF PERIOD 9,921 17,875
Supplemental disclosures of cash flow information:    
Interest
Income taxes
Non-cash investing and financing activities:    
Warrants received as part of an investment banking deal $ 1,281 $ 990
[1] Includes unrealized gains and losses on securities held by the broker-dealer.