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CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Q1) UNAUDITED - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Mar. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
ASSETS          
Cash and cash equivalents $ 5,668,869 $ 6,587,097 $ 9,506,587 $ 11,330,705  
Receivables from brokers and clearing organizations 299,210 808,686   194,676  
Receivables from affiliates 171,981 30,625   19,199  
Deposits with clearing organizations 200,000 200,000   200,000  
Income taxes receivable (including deferred tax asset of $11,498 and $2,930, respectively) 306,632 184,396   352,599  
Fixed assets, net of accumulated depreciation of $31,472 and $28,435, respectively 41,418 44,456   55,839  
Other assets 237,800 281,896   231,182  
Total assets 6,925,910 8,137,156   12,384,200  
LIABILITIES AND EQUITY          
Compensation payable 342,220 709,663   1,439,526  
Payable to affiliates 220,588 985,632   218,788  
Income tax payable 57,245 53,572   0  
Accrued expenses and other liabilities 550,970 350,948   407,842  
Total liabilities 1,171,023 2,099,815   2,066,156  
Commitments and contingencies (Note 9)    
Equity          
Common stock, $0.01 par value; 100,000,000 shares authorized and 600,090 shares issued and outstanding 6,001 6,001   5,486  
Additional paid-in capital 53,886,180 53,886,180   56,260,806  
Accumulated deficit (48,137,294) (47,854,840)   (45,948,248)  
Total equity 5,754,887 6,037,341 $ 9,277,402 10,318,044 $ 12,606
Total liabilities and equity $ 6,925,910 $ 8,137,156   $ 12,384,200