XML 37 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended
Jun. 30, 2014
Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 5,306,000 $ 1,258,000
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 1,771,000 796,000
Amortization of forgivable loans to registered representatives 166,000 212,000
Stock-based compensation 644,000  
Provision for doubtful accounts 553,000 (96,000)
Non-controlling interest   3,000
Changes in assets and liabilities, net of effects of acquisition    
Deposits with clearing organizations 344,000  
Receivables from broker-dealers and clearing organizations 859,000 33,000
Other receivables (1,064,000) (598,000)
Advances to registered representatives (14,000) (178,000)
Securities owned, at fair value (700,000) (163,000)
Other assets (176,000) 14,000
Prepaid expenses 354,000  
Accounts payable, accrued expenses and other liabilities (740,000) (8,000)
Securities sold, but not yet purchased, at fair value 212,000 10,000
Net cash provided by operating activities 7,515,000 1,283,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash acquired in acquisition 1,654,000  
Purchase of fixed assets (130,000) (96,000)
Net cash provided by (used in) investing activities 1,524,000 (96,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayment of notes payable   (2,800,000)
Proceeds from issuance of common stock   8,375,000
Repayment of certain liabilities of acquired entity (5,400,000)  
Net cash (used in) provided by financing activities (5,400,000) 5,575,000
NET INCREASE IN CASH 3,639,000 6,762,000
CASH BALANCE    
Beginning of the period 19,985,000 7,934,000
End of the period 23,624,000 14,696,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest 5,000 10,000
Income taxes 85,000  
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Tangible assets acquired, excluding cash 3,933,000  
Identifiable intangible assets acquired 10,417,000  
Goodwill 4,464,000  
Liabilities assumed 11,628,000  
Common stock issued 8,840,000  
Deemed distribution to noncontrolling interest   146,000
Conversion of preferred stock to shares of common stock   6,156,000
Common Stock to Liability [Member]
   
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Conversion of debt   125,000
Convertible Debt to Equity [Member]
   
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Conversion of debt   5,000,000
Warrants to Equity [Member]
   
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Conversion of debt   $ 259,000