XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS UNAUDITED - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Commissions $ 1,066,230 $ 1,510,674 $ 3,205,398 $ 4,549,985
Fees earned from affiliated entities pursuant to research services agreements 0 375,000 0 1,127,500
Principal transactions (2,961) (6,353) (5,924) (7,623)
Dividends and interest 6,719 38,483 54,808 160,261
Underwriting fees 0 4,938 30,488 99,115
Sales manager fees 0 468,189 334,825 590,760
Other revenues 11,984 5,088 15,242 13,100
Total revenues 1,081,972 2,396,019 3,634,837 6,533,098
Expenses        
Compensation and related costs 749,778 1,993,131 2,729,752 6,955,176
Clearing charges 276,346 329,746 894,375 933,620
General and administrative 264,093 296,000 922,166 860,830
Occupancy and equipment 116,941 193,944 274,182 586,684
Total expenses 1,407,158 2,812,821 4,820,475 9,336,310
Loss before income tax benefit (325,186) (416,802) (1,185,638) (2,803,212)
Income tax benefit (61,006) (83,781) (328,606) (596,387)
Net loss $ (264,180) $ (333,021) $ (857,032) $ (2,206,825)
Net loss per share        
Basic and diluted (in dollars per share) $ (0.44) $ (0.61) $ (1.43) $ (4.02)
Weighted average shares outstanding:        
Basic and diluted (in shares) 600,090 548,591 600,090 548,591