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DE 87-4284605 2400 Old Brick Road Suite 115 Glen Allen VA 23060 (434) 336-7737 Class A Common Stock, $0.0001 par value* No No Yes Yes Non-accelerated Filer true false false false false 6818035 5468133 1800000 Brown, Edwards & Company, L.L.P Lynchburg, Virginia 423 8983190 10690398 7715075 5860688 1064413 744638 160333 91473 50000 123823 26889 57446 17949900 17618466 737869 737869 3155290 1223926 106693 1455266 348815 301154 450000 250250 62400 1149351 1441234 7567088 3853029 25516988 21471495 5856 71306 23342 305065 260185 147039 156859 54250 732173 476 1110 1244859 512802 695039 464000 576000 1159039 576000 2403898 1088802 0.0001 0.0001 2000000 2000000 0 0 0 0 0.0001 0.0001 14000000 14000000 5452383 5452383 5452383 5452383 545 545 20418318 20217472 2694227 164676 23113090 20382693 25516988 21471495 8678783 7271332 182970 61499 725770 305680 9587523 7638511 218269 103843 218269 103843 8678783 7271332 182970 61499 507501 201837 9369254 7534668 4607530 3564026 200846 881755 381870 34505 207857 153204 350235 268444 127348 55298 1023929 567896 253455 118354 470329 495737 315939 7648807 6429750 1720447 1104918 -112000 -900000 334400 911471 132873 231478 47738 -148846 -17895 5378 1422608 1085989 613504 -191678 2529551 2382585 0.46 0.46 0.66 0.66 5465630 5465630 3588098 3588098 5452383 545 20217472 164676 20382693 5966 5966 81746 81746 5452383 545 20299218 170642 20470405 852874 852874 39700 39700 5452383 545 20338918 1023516 21362979 462442 462442 39700 39700 5452383 545 20378618 1485958 21865121 1208269 1208269 39700 39700 5452383 545 20418318 2694227 23113090 2400000 240 591669 591909 761617 761617 2400000 240 1353286 1353526 762885 762885 2400000 240 2116171 2116411 319795 319795 2809578 2809578 2647383 265 17161312 17161577 405000 40 2174405 2174445 881755 881755 881755 881755 5452383 545 20217472 -373612 19844405 5452383 545 20217472 -373612 19844405 538288 538288 5452383 545 20217472 164676 20382693 5452383 545 20217472 164676 20382693 2529551 2382585 334400 -112000 -900000 200846 881755 381870 34505 291883 -191678 -148846 -62400 19974 319775 198363 68860 39540 -30557 -66906 -65450 50800 -23342 44880 -315022 -9820 -46688 54250 -634 462 2705976 1725722 1840542 3595599 1455266 450000 250250 384400 199988 362660 108501 10200 15873598 -3822607 11827999 123823 -123823 714400 2809578 2174445 3377291 -590577 -4136247 -1707208 9417474 10690398 1272924 8983190 10690398 1693 250000 19742 <p id="xdx_80F_eus-gaap--OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_zqX57sNb32s9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1. <span id="xdx_82C_zF0OvzttmEs7">ORGANIZATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Organization and Lines of Business</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ENDI Corp. (“ENDI”) was incorporated in Delaware on December 23, 2021. On August 11, 2022 (the “Closing Date”), the Company (as defined herein) completed its mergers (the “Mergers”) pursuant to that certain Agreement and Plan of Merger dated December 29, 2021 (as amended, the “Merger Agreement”) by and among ENDI, Enterprise Diversified, Inc. (“Enterprise Diversified”), Zelda Merger Sub 1, Inc., Zelda Merger Sub 2, LLC, CrossingBridge Advisors, LLC (“CrossingBridge” or “CBA”) and Cohanzick Management, LLC (“Cohanzick”). As a result of the Mergers, Enterprise Diversified and CrossingBridge merged with wholly-owned subsidiaries of ENDI and now operate as wholly-owned subsidiaries of the Company. The Company is the successor registrant to Enterprise Diversified’s Securities and Exchange Commission (“SEC”) registration effective as of the Closing Date of the Mergers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The reporting periods covered by the Annual Report on Form 10-K for the year ended December 31, 2023, reflects the standalone business of CrossingBridge prior to the Closing Date of the Mergers and reflects the consolidated business of the Company, including CrossingBridge and Enterprise Diversified, as of and after the Closing Date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On the Closing Date, Enterprise Diversified and CrossingBridge became wholly-owned subsidiaries of ENDI as a result of the Mergers (collectively with the other transactions described in the Merger Agreement, the “Business Combination”). The Business Combination is accounted for as a reverse acquisition using the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) 805, Business Combinations, with CrossingBridge representing the accounting acquiror.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior to the Closing Date, the Company operated through a single reportable segment, CrossingBridge operations. Beginning on the Closing Date through the year ended December 31, 2022, the post-Merger period, and continuing through the current year ended December 31, 2023, the Company operated through four reportable segments: CrossingBridge operations, Willow Oak operations, internet operations, and other operations. The management of the Company also continually reviews various business opportunities for the Company, including those in other lines of business.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unless the context otherwise requires, and when used herein, the “Company,” “ENDI,” “ENDI Corp.,” “we,” “our,” or “us” refers to ENDI Corp. individually, or as the context requires, collectively with its subsidiaries as of and after the Closing Date, and to CrossingBridge for the periods up to the Closing Date, due to the determination that CrossingBridge represents the accounting acquiror.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As previously disclosed on our Current Report on Form 8-K filed on January 12, 2024, we have filed a Form 15 certifying the deregistration of our Class A common stock under Section 12(6) of the Exchange Act and suspension of our duty to file reports under Sections 13 and 15(d) of the Exchange Act.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>CrossingBridge Operations</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CBA was formed as a limited liability company on December 23, 2016, under the laws of the State of Delaware. CBA derives its revenue and net income from investment advisory services. CBA is a registered investment adviser under the Investment Advisers Act of 1940, as amended (the “Investment Advisers Act”), and it provides investment advisory services to investment companies (including mutual funds and exchange-traded funds (“ETFs”)) registered under the Investment Company Act of 1940, as amended (“1940 Act”), both as an adviser and as a sub-adviser. CBA also manages, under the Universal Investment Ireland UCITS Platform ICAV, an umbrella Irish Collective Asset-management Vehicle with segregated liability between sub-funds authorized pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011, as amended from time to time.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2023, CBA serves as an adviser or manager to its six proprietary products and sub-adviser to two additional products. As of December 31, 2023, the assets under management (“AUM”) for CBA, including advised, managed, and sub-advised funds, were in excess of $<span id="xdx_906_eus-gaap--AssetsUnderManagementCarryingAmount_iI_pn8n9_c20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__srt--RangeAxis__srt--MinimumMember_zmfLgmj1qKuh" title="Assets under management, carrying amount">1.8</span> billion. The investment strategies for CBA include: ultra-short duration, low duration high yield, strategic income, responsible credit, and special purpose acquisition companies (“SPACs”). These strategies primarily employ investment grade and high yield corporate debt, as well as credit opportunities in event-driven securities, post reorganization investments, and stressed and distressed debt.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Willow Oak Operations</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beginning on August 12, 2022, the start of the post-Merger period (“Post-Merger”), the Company operates its Willow Oak operations business through its wholly-owned subsidiaries, Willow Oak Asset Management, LLC (“Willow Oak”), Willow Oak Capital Management, LLC, Willow Oak Asset Management Affiliate Management Services, LLC (“Willow Oak AMS”) and Willow Oak Asset Management Fund Management Services, LLC (“Willow Oak FMS”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Willow Oak is an asset management platform focused on partnering with independent asset managers throughout various phases of their firm’s lifecycle to provide comprehensive operational services that support the growth of their businesses. Through minority ownership stakes and bespoke service-based contracts, Willow Oak offers affiliated managers strategic consulting, operational support, and growth opportunities. Services to date include consulting, investor relations and marketing, accounting and bookkeeping, compliance program monitoring, and business development support. The Company intends to actively expand its Willow Oak platform and services to independent managers across the investing community.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Internet Operations</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beginning Post-Merger, the Company operates its internet operations segment through Sitestar.net, its wholly-owned subsidiary. Sitestar.net is an internet service provider that offers consumer and business-grade internet access, e-mail hosting and storage, wholesale managed modem services, web hosting, third-party software as a reseller, and various ancillary services. Sitestar.net provides services to customers in the United States and Canada. In addition, the Company owns a portfolio of domain names.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 15pt; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Other Operations</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beginning Post-Merger, the Company operates its other operations segment which includes nonrecurring or one-time strategic funding or similar activity and other corporate operations that are not considered to be one of the Company’s primary lines of business. Below are the primary activities comprising other operations. Additional investment activity that is not specifically mentioned below is included in the accompanying consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Enterprise Diversified, Inc.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 12, 2023, through Enterprise Diversified, Inc. (“Enterprise Diversified”), and again on October 31, 2023, we invested $<span id="xdx_907_eus-gaap--PaymentsToAcquireBusinessesGross_c20230611__20230612__dei--LegalEntityAxis__custom--EnterpriseDiversifiedIncMember_zLYUXgjHDqa5" title="Investment in limited partnership">172,512</span> and $<span id="xdx_90E_eus-gaap--PaymentsToAcquireBusinessesGross_c20231030__20231031__dei--LegalEntityAxis__custom--EnterpriseDiversifiedIncMember_z9BsRLT6okL6" title="Investment in limited partnership">190,148</span> in a commodity-based limited partnership managed by a third-party general partner, respectively. The general partner is entitled to certain management fees and profit allocations and our investment is subject to a two-year lockup from the date of the initial investment. As of the year ended December 31, 2023, this investment is carried at its reported net asset value (“NAV”) of $<span id="xdx_901_eus-gaap--FairValueNetAssetLiability_iI_c20231231_zS16LlU2eyWh" title="Net asset value">348,815</span>. During the year ended December 31, 2023, we recognized $<span id="xdx_906_eus-gaap--LossOnSaleOfInvestments_c20230101__20231231_ztCdwBDI9jB3" title="Investment losses">13,845</span> of net investment losses related to this investment. <span id="xdx_901_eus-gaap--InvestmentIncomeNet_do_c20220101__20221231_z1lUHb1lqz3b" title="Investment income net">No</span> comparable activity exists for the year ended December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 14, 2023, through Enterprise Diversified, we invested $<span id="xdx_905_eus-gaap--PaymentsToAcquireBusinessesGross_c20230714__20230714__dei--LegalEntityAxis__custom--EnterpriseDiversifiedIncMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zp7qusr6ij4l" title="Investment in limited partnership">500,000</span> in a private placement transaction for which we received <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230714__20230714__dei--LegalEntityAxis__custom--EnterpriseDiversifiedIncMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--StatementEquityComponentsAxis__custom--RestrictedPreferredSharesMember_zz9VB0iZK5oh" title="Number of shares issued">500</span> restricted preferred shares of a private company issuer as well as <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20230714__dei--LegalEntityAxis__custom--EnterpriseDiversifiedIncMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--StatementEquityComponentsAxis__custom--RestrictedPreferredSharesMember_ztvEynUP2L68" title="Number of warrants">100,000</span> warrants of the issuer’s public parent company. Neither the preferred shares nor the warrants are registered or freely tradable and are currently subject to further transfer limitations. The preferred shares have a liquidation preference equal to the fair market value of the consideration paid at issuance, plus accrued and unpaid dividends. All dividends are payable quarterly in arrears. Each warrant entitles the holder to acquire one subordinate voting share of common stock of the issuer’s parent. Our investment does not provide a controlling interest in the issuer or the issuer’s parent. The investment in the preferred shares is carried at its cost basis of $<span id="xdx_904_eus-gaap--InvestmentOwnedAtCost_iI_c20231231__dei--LegalEntityAxis__custom--EnterpriseDiversifiedIncMember_z1wEWKgZlhN4" title="Investment owned, cost">500,000</span> as of December 31, 2023, with dividend income recognized quarterly pursuant to the terms of the restricted preferred shares. The investment in the warrants is carried at the most recent publicly traded price with a 20% marketability discount applied to account for the lack of registration and transfer restrictions on the warrants, which totals $<span id="xdx_90D_ecustom--IncreaseInWarrants_c20230101__20231231_ztYyPqFCD7O2" title="Increase in warrants">62,400</span> as of December 31, 2023. During the year ended December 31, 2023, we recognized $<span id="xdx_901_eus-gaap--InvestmentIncomeNet_c20230101__20231231__dei--LegalEntityAxis__custom--EnterpriseDiversifiedIncMember_zjx6EzFyfcx3" title="Net investment income">62,400</span> of net investment income and $<span id="xdx_905_eus-gaap--InvestmentIncomeDividend_c20230101__20231231__dei--LegalEntityAxis__custom--EnterpriseDiversifiedIncMember_znO7TCg6R9ue" title="Investment, dividend income">34,931</span> of dividend income related to this investment. <span id="xdx_903_eus-gaap--InvestmentIncomeNet_do_c20220101__20221231_zEDborzse8w" title="Investment income net">No</span> comparable activity exists for the year ended December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 17, 2023, through Enterprise Diversified, we invested $<span id="xdx_90D_eus-gaap--PaymentsToAcquireBusinessesGross_c20231117__20231117__dei--LegalEntityAxis__custom--EnterpriseDiversifiedIncMember_zLuhWFuKuDLf" title="Investment in limited partnership">250,250</span> in a blank check company formed for the purpose of acquiring one or more businesses contemplated pursuant to a registration statement in connection with an initial public offering. We received an aggregate of <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20231117__20231117__dei--LegalEntityAxis__custom--EnterpriseDiversifiedIncMember_zZWU0BSgIZp5" title="Number of shares issued, placement units">25,000</span> placement units of the corporation, at $<span id="xdx_909_eus-gaap--SharesIssuedPricePerShare_iI_c20231117__dei--LegalEntityAxis__custom--EnterpriseDiversifiedIncMember_zEsHtt1Gzq3i" title="Shares issued price per share">10.00</span> per unit, for an aggregate purchase price of $<span id="xdx_905_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20231117__20231117__dei--LegalEntityAxis__custom--EnterpriseDiversifiedIncMember_zYJpVrncwNO4" title="Number of shares issued value, placement units">250,000</span>. Each placement unit is currently intended to consist of one ordinary share, par value $<span id="xdx_904_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20231117__dei--LegalEntityAxis__custom--EnterpriseDiversifiedIncMember_zuDvm7LBViJ4" title="Common stock, par value">0.0001</span> per share, of the corporation, and one-half of one redeemable warrant. Each whole warrant is intended to entitle the holder thereof to purchase one ordinary share at a price of $<span id="xdx_909_eus-gaap--SharesIssuedPricePerShare_iI_c20231117__dei--LegalEntityAxis__custom--EnterpriseDiversifiedIncMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zZkPFPb7kF75" title="Shares issued price per share">11.50</span> per share. Additionally, we received an aggregate of <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20231117__20231117__dei--LegalEntityAxis__custom--EnterpriseDiversifiedIncMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zV3hTokEwgJa" title="Number of shares issued">50,000</span> ordinary shares at approximately $<span id="xdx_90A_eus-gaap--SharesIssuedPricePerShare_iI_c20231117__dei--LegalEntityAxis__custom--EnterpriseDiversifiedIncMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zZ3RYEGgbGT3" title="Shares issued price per share">0.005</span> per share, for an aggregate purchase price of $<span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20231117__20231117__dei--LegalEntityAxis__custom--EnterpriseDiversifiedIncMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zF8cwcakHOAl" title="Number of shares issued value">250.00</span>. As of December 31, 2023, as no initial public offering has been completed, this investment is carried at its cost basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>eBuild Ventures, LLC</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Merger Agreement, the Company was transferred interests of eBuild Ventures, LLC (“eBuild”) on the Closing Date. eBuild acquires, or provides growth equity to, consumer product businesses in the digital or brick and mortar marketplaces.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 8, 2022, through eBuild, we made a capital contribution of $<span id="xdx_905_eus-gaap--PaymentsToAcquireEquitySecuritiesFvNi_c20220908__20220908__srt--ConsolidatedEntitiesAxis__custom--BuildVenturesLLCMember__us-gaap--InvestmentTypeAxis__custom--StartupPhasePrivateCompanyMember_zOM7fr5zWvFe">450,000</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, representing approximately a <span id="xdx_904_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20220908__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BuildVenturesLLCMember__us-gaap--InvestmentTypeAxis__custom--StartupPhasePrivateCompanyMember_zWXHFN764ut2">10</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% ownership stake, in a start-up phase private company that operates in the consumer beverage product space. This investment is valued using the equity method, which totals $<span id="xdx_90D_eus-gaap--InvestmentOwnedAtCost_iI_c20231231__srt--ConsolidatedEntitiesAxis__custom--BuildVenturesLLCMember__us-gaap--InvestmentTypeAxis__custom--StartupPhasePrivateCompanyMember_znQkao2qo61g" title="Investment owned, cost">301,154</span> as of December 31, 2023. During the year ended December 31, 2023, the Company reported a loss of $<span id="xdx_901_eus-gaap--IncomeLossFromEquityMethodInvestments_iN_di_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--BuildVenturesLLCMember__us-gaap--InvestmentTypeAxis__custom--StartupPhasePrivateCompanyMember_zPSiWOlnSenj" title="Equity method investment">148,846</span> through its application of the equity method on eBuild’s investment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 16, 2023, through eBuild, we made a conditional shareholder contribution of $<span id="xdx_907_ecustom--PaymentsToAcquireConditionalShareholderContribution_c20230316__20230316__srt--ConsolidatedEntitiesAxis__custom--BuildVenturesLLCMember__us-gaap--InvestmentTypeAxis__custom--PrivateEcommerceCompanyFulfilledByAmazonMember_zw2gA2h23HG8" title="Shareholder contribution">955,266</span> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and were issued approximately a <span id="xdx_901_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20230316__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BuildVenturesLLCMember__us-gaap--InvestmentTypeAxis__custom--StartupPhasePrivateCompanyMember_zDbIUIZRTIDh" title="Investment ownership percentage">3</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% ownership stake in a private company that operates in the consumer products e-commerce space fulfilled by Amazon. This investment was carried at its cost basis of $<span id="xdx_900_eus-gaap--InvestmentOwnedAtCost_iI_c20231231__srt--ConsolidatedEntitiesAxis__custom--BuildVenturesLLCMember__us-gaap--InvestmentTypeAxis__custom--PrivateEcommerceCompanyFulfilledByAmazonMember_zVE5L80Qesg4" title="Investment owned, cost">955,266 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">as of December 31, 2023</span>. Subsequent to December 31, 2023, the private company redeemed the contribution in full.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financing Arrangement - Triad Guaranty, Inc.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In August 2017, Enterprise Diversified entered into an agreement with several independent third parties to provide debtor-in-possession financing to an unaffiliated third party, Triad Guaranty, Inc., through Triad DIP Investors, LLC. Triad Guaranty, Inc. exited bankruptcy in April 2018, and Enterprise Diversified was subsequently issued an amended and restated promissory note. As of December 31, 2022, Enterprise Diversified reported $<span id="xdx_908_eus-gaap--NotesAndLoansReceivableNetNoncurrent_iI_c20221231__us-gaap--InvestmentIssuerNameAxis__custom--TriadGuarantyIncMember_zrVaUqAEQVM9">50,000</span> of promissory note receivables, measured at fair value, from Triad DIP Investors, LLC, and <span id="xdx_901_eus-gaap--InvestmentOwnedBalanceShares_iI_c20221231__us-gaap--InvestmentIssuerNameAxis__custom--TriadGuarantyIncMember_zLqbwj8XtTx1">847,847</span> aggregate shares of Triad Guaranty, Inc. common stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 9, 2023, Enterprise Diversified was issued a second amended and restated promissory note by Triad DIP Investors, LLC. Amended terms to the promissory note include an increase in the interest rate from <span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_c20230109__srt--RangeAxis__srt--MinimumMember__us-gaap--InvestmentIssuerNameAxis__custom--TriadGuarantyIncMember_z4V9vqtrMG3a" title="Interest rate on promissory note">12</span>% to <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_c20230109__srt--RangeAxis__srt--MaximumMember__us-gaap--InvestmentIssuerNameAxis__custom--TriadGuarantyIncMember_zCt6Dtc6Fibl" title="Interest rate on promissory note">18</span>% per annum, with unpaid historical accrued interest and future monthly accrued and unpaid interest to be capitalized and added to the then-outstanding principal balance on the last business day of each month. Further, the maturity date of the note was extended from December 31, 2022 to April 30, 2023, with early payoff permitted. Also during the three-month period ended March 31, 2023, Triad notified the Company that it was able to secure a new financing resource that was not previously available. On April 27, 2023, the Company received repayment of the full historical principal balance and accrued interest related to the second amended and restated promissory note receivable, which was greater than the Company’s historical recorded carrying amount of $<span id="xdx_901_eus-gaap--NotesAndLoansReceivableNetNoncurrent_iI_c20221231__us-gaap--InvestmentIssuerNameAxis__custom--TriadGuarantyIncMember_zY7SwrqLm5Ld" title="Promissory note receivable">50,000</span> as of December 31, 2022. Given these developments, the Company recognized $<span id="xdx_907_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPeriodIncreaseDecrease_c20230101__20231231__us-gaap--InvestmentIssuerNameAxis__custom--TriadGuarantyIncMember_z9AW5QtuA33c" title="Realized gain on note receivable">334,400</span> of other income related to the realized gain on the note receivable, which is included in the consolidated statements of operations for the year ended December 31, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2023, the Company attributed no value to its shares of Triad Guaranty, Inc. common stock held due to the stocks’ general lack of marketability.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Corporate Operations</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Corporate operations include any revenue or expenses derived from the Company’s corporate office operations, as well as expenses related to public company reporting, the oversight of subsidiaries, and other items that affect the overall Company. Also included under corporate operations is investment activity earned through the reinvestment of corporate cash. Corporate investments are typically short-term, highly liquid investments, including vehicles such as mutual funds, ETFs, commercial paper, and corporate and municipal bonds.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2022, through Enterprise Diversified under the other operations segment, the Company invested a total of $<span id="xdx_90D_eus-gaap--PaymentsToAcquireInvestments_c20220101__20221231__us-gaap--InvestmentTypeAxis__us-gaap--MutualFundMember__us-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_z9XfJetHVuF1" title="Payments to acquire investments, total">4,500,000</span> among three CrossingBridge mutual funds: the CrossingBridge Responsible Credit Fund, the CrossingBridge Ultra Short Duration Fund, and the CrossingBridge Low Duration High Yield Fund.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, through Enterprise Diversified under the other operations segment, the Company invested $<span id="xdx_90E_eus-gaap--PaymentsToAcquireInvestments_c20230101__20231231__us-gaap--InvestmentTypeAxis__us-gaap--MutualFundMember__us-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_z5jqOYudFK89" title="Payments to acquire investments, total">1,200,000</span> into CrossingBridge’s then newly acquired RiverPark Strategic Income Fund.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company also routinely invests in the CrossingBridge Pre-Merger SPAC ETF through its other operations segment as well, which as of December 31, 2023, totaled $<span id="xdx_905_eus-gaap--InvestmentsFairValueDisclosure_iI_c20231231__us-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_zgxrwIv6fZu4" title="Investments, fair value disclosure">369,837</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There are no liquidity restrictions in connection with these investments and any intercompany revenue and expenses have been eliminated in consolidation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 15pt; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Principles of Consolidation</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, and those entities in which it otherwise has a controlling financial interest as of and for the year ended December 31, 2023, including: CrossingBridge Advisors, LLC, Bonhoeffer Capital Management, LLC, eBuild Ventures, LLC, Enterprise Diversified, Inc., Sitestar.net, Inc., Willow Oak Asset Management, LLC, Willow Oak Asset Management Affiliate Management Services, LLC, Willow Oak Asset Management Fund Management Services, LLC, and Willow Oak Capital Management, LLC.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All intercompany accounts and transactions have been eliminated in consolidation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1800000000 172512 190148 348815 13845 0 500000 500 100000 500000 62400 62400 34931 0 250250 25000 10.00 250000 0.0001 11.50 50000 0.005 250.00 450000 0.10 301154 -148846 955266 0.03 955266 50000 847847 0.12 0.18 50000 334400 4500000 1200000 369837 <p id="xdx_806_eus-gaap--SignificantAccountingPoliciesTextBlock_zyKbVmgFeKq6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2. <span id="xdx_827_z3r5olKOGig7">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_848_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zlI1wvtaG4zd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span><span id="xdx_86A_zf3eXmV4kmrk">Basis of Presentation</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following Financial Accounting Standards Board guidance related to the accounting for reverse acquisitions, CrossingBridge’s historical carve-out financial statements replaced the Company’s (as the successor registrant to Enterprise Diversified) historical financial statements. Accordingly, the capital structure, and per share amounts presented in CrossingBridge’s historical carve-out financial statements for the periods prior to the Closing Date were recast to reflect the capital activity in accordance with the Merger Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The CrossingBridge Advisors, LLC carve-out for activity prior to the Closing Date is part of the Cohanzick financial statements. Prior to the Closing Date of the Mergers, CBA was a wholly-owned subsidiary of Cohanzick. The historical financial carve-out statements of CBA reflect the assets, liabilities, revenue, and expenses directly attributable to CBA, as well as allocations deemed reasonable by management, to present the financial position, statements of operations, statements of changes in stockholders’ equity, and statements of cash flows of CBA on a stand-alone basis and do not necessarily reflect the financial position, statements of operations, statements of changes in stockholders’ equity, and statements of cash flows of CBA in the future or what they would have been had CBA been a separate, stand-alone entity during the periods presented that include activity prior to the Closing Date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_eus-gaap--UseOfEstimates_z4lc5cYPl6P8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_867_zlO37zSgP6r5">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with GAAP, the preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On an ongoing basis, management evaluates its estimates and judgments, including, among other items, those related to fair value of investments, revenue recognition, accrued expenses, financing operations, fair value of goodwill, fixed asset lives and impairment, lease right-of-use assets and impairment, deferred tax assets, liabilities and valuation allowance, other assets, the present value of lease liabilities, and contingencies and litigation. Management bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions and conditions. These accounting policies are described in the relevant sections in the notes to the consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zhfOPyUgfG5d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zXBAyYwJo0r3">Concentration of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist of cash, cash equivalents, accounts receivable, and notes receivable. The Company places its cash with high-quality financial institutions and, at times, exceeds the FDIC and CDIC insurance limit. The Company extends credit based on an evaluation of customers’ financial condition, generally without collateral. Exposure to losses on receivables is principally dependent on each customer’s financial condition. The Company monitors its exposure for credit losses and maintains allowances for anticipated losses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zMZZX7tuLP25" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_zBFuzNb2Afu8">Cash and Cash Equivalent</span>s</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For purposes of the statements of cash flows, the Company defines cash equivalents as all highly liquid instruments purchased with a maturity and/or liquidation option of three months or less.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eus-gaap--InvestmentPolicyTextBlock_zUKguR58UX22" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_863_zjEKKm9DNf3l">Investments</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company holds various investments through its other operations segment. Investments are typically short-term, highly liquid investments, including vehicles such as: mutual funds, ETFs, commercial paper, and corporate and municipal bonds. Occasionally, the Company also invests in comparably less liquid, opportunistic investments. Investments held at fair value are remeasured to fair value on a recurring basis. Certain assets held through the other operations segment do not have a readily determinable value as these investments are either not publicly traded, do not have published sales records, or do not routinely make current financial information available. Assets that do not have a readily determinable value are remeasured when additional valuation inputs become observable. See Note 6 for more information.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_842_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zVY6atVInxh6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_868_zJ7FGltpTxDe">Accounts Receivable</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s CrossingBridge operations segment records receivable amounts for management fee shares earned on a monthly basis. Management fee shares are calculated and collected on a monthly basis. The Company historically has had no collection issues with management fee shares and the overall possibility for non-collection is extremely low. For these reasons, management has determined that it is not necessary to record an allowance against these receivables.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s Willow Oak operations segment records receivable amounts for management fee shares and fund management services revenue earned on a monthly basis. Management fee shares and fund management services fees are calculated and collected on either a monthly or quarterly basis as dictated by the respective partnership agreement. The Company historically has had no collection issues with management fee shares and fund management receivables and the overall possibility for non-collection is extremely low. For these reasons, management has determined that it is not necessary to record an allowance against these receivables.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s Willow Oak operations segment also records receivable amounts for performance fee shares earned on an annual basis. Performance fee shares are dependent upon exceeding specified relative or absolute investment return thresholds, which vary by affiliate relationship, and typically include annual measurement periods. The Company historically has had no collection issues with performance fee shares and the overall possibility for non-collection is extremely low. For these reasons, management has determined that it is not necessary to record an allowance against these receivables.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company grants credit in the form of unsecured accounts receivable to its customers through its internet operations segment. The current expected credit loss methodology is based on management’s assessment of the net amount expected to be collected from each customer. Specific customer receivables are considered past due when they are outstanding beyond their contractual terms and are written off from the allowance for credit losses when an account or invoice is individually determined to be uncollectible. The internet operations segment attempts to reduce the risk of non-collection by including a late-payment fee and a manual-processing-payment fee to customer accounts. Receivables more than 90 days past due are no longer included in accounts receivable and are turned over to a collection agency. Accounts receivable more than 30 days are considered past due.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2023 and December 31, 2022, allowances offsetting gross accounts receivable on the accompanying consolidated balance sheets totaled $<span id="xdx_90B_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iI_c20231231_zZ3MueitLvJi" title="Accounts receivable, allowance for credit loss">3,498</span> and $<span id="xdx_901_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iI_c20221231_z0HsBFp0YGV1" title="Accounts receivable, allowance for credit loss">2,283</span>, respectively. For the years ended December 31, 2023 and 2022, credit losses totaled $<span id="xdx_906_eus-gaap--ProvisionForDoubtfulAccounts_c20230101__20231231_zaM00UiY89db" title="Accounts receivable, credit loss expense (recoveries)">1,669</span> and $<span id="xdx_90F_eus-gaap--ProvisionForDoubtfulAccounts_c20220101__20221231_zPwl7lBCEEhe" title="Accounts receivable, credit loss expense (recoveries)">177</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_848_eus-gaap--ReceivablesPolicyTextBlock_zRuPEX5GmYo3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_zb8BAuhG9RKf">Notes Receivable</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company does not routinely acquire notes receivable in the ordinary course of business, but when a business opportunity arises, a subsidiary may acquire a note if it appears to be favorable to the Company. Notes receivable are recorded at their principal amount and interest is accrued quarterly based on the applicable interest rate. The Company makes an assessment of the ultimate collectability of each note receivable on an annual basis based upon the financial condition of the borrower and adjusts the carrying value of the note receivable as deemed appropriate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zqfqYPHZsIH8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_862_zeP5IF39s559">Property and Equipment</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment are recorded at cost. Expenditures for maintenance and repairs are charged to operations as incurred, while renewals and betterments are capitalized. Gains and losses on disposals are included in the results of operations. Depreciation is computed using the straight-line method based on the estimated useful lives for each of the following asset classifications.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_ecustom--ScheduleOfPropertyPlantAndEquipmentUsefulLifeTableTextBlock_zI1ADqMh5o6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zrSK3DvKaGDl" style="display: none">SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT, USEFUL LIFE</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 60%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%; text-align: left">Vehicles (in years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VehicleMember_zR5aDL04ESni" title="Property and equipment, useful life (year)">5</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Furniture and fixtures (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zC94k4PzrlI4" title="Property and equipment, useful life (year)">5</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Equipment (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zMe2hOt15Wr" title="Property and equipment, useful life (year)">7</span></td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AB_zTdT6g8R1o7e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluates at each balance sheet date whether events and circumstances have occurred that indicate possible impairment. If there are indications of impairment, then the Company uses estimated future undiscounted cash flows of the related asset or asset grouping over the remaining life in measuring whether the assets are recoverable. In the event such cash flows are not expected to be sufficient to recover the recorded asset values, the assets are written down to their estimated fair value. Property and equipment to be disposed are reported at the lower of carrying amount or fair value of the asset less cost to sell.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_eus-gaap--GoodwillAndIntangibleAssetsPolicyTextBlock_zYPhmtGw57G5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_861_zNqiSx8rinN7">Goodwill and Other Intangible Assets</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations accounted for under the acquisition method of accounting. The Company tests its goodwill annually as of December 31, or more often if events and circumstances indicate that those assets might not be recoverable. As of December 31, 2023 and December 31, 2022, the Company reported $<span id="xdx_90E_eus-gaap--Goodwill_iI_c20231231__us-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_zNZg5jlq1Ux1" title="Goodwill"><span id="xdx_908_eus-gaap--Goodwill_iI_c20221231__us-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_z8LvmxxrqlI2" title="Goodwill">737,869</span></span> of goodwill under the CrossingBridge operations segment. None of the Company’s recorded goodwill is tax deductible. The fair values assigned to tangible and intangible assets acquired as part of the Mergers are based on management’s estimates and assumptions. As of June 30, 2023, the Company considered the fair values of assets acquired and liabilities assumed to be final and no longer subject to potential adjustments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Impairment testing of goodwill is required at the reporting-unit level (operating segment or one level below operating segment). The impairment test involves calculating the impairment of goodwill based solely on the excess of the carrying value of the reporting unit over the fair value of the reporting unit. Prior to performing the impairment test, the Company may make a qualitative assessment of the likelihood of goodwill impairment to determine whether a detailed quantitative analysis is required. The Company estimates the fair value of its reporting units using discounted expected future cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets (other than goodwill) consist of customer relationships, trade names, investment management agreements, a non-compete, and domain names held amongst the CrossingBridge, Willow Oak and internet operations segments. When management determines that material intangible assets are acquired in conjunction with the purchase of a business or asset, the Company determines the fair values of the identifiable intangible assets by taking into account internal and external appraisals. Intangible assets determined to have definite lives are amortized over their estimated useful lives. The Company evaluates at each balance sheet date whether events and circumstances have occurred that indicate possible impairment. If there are indications of impairment, then the Company uses estimated future undiscounted cash flows of the related intangible asset or asset grouping over the remaining life in measuring whether the assets are recoverable. In the event such cash flows are not expected to be sufficient to recover the recorded asset values, the assets are written down to their estimated fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As described in Note 4, during the three-month period ended December 31, 2022, the Company recorded a measurement period adjustment to the preliminary recorded fair value assigned to the value of the Company’s acquired intangible assets, specifically the domain names held under the internet operations segment, reducing the preliminarily assessed fair value from $<span id="xdx_90F_eus-gaap--IndefinitelivedIntangibleAssetsAcquired_c20221001__20221231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InternetDomainNamesMember__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsSegmentsMember_z2xt90h3ARy1" title="indefinite-lived intangible assets acquired">235,000</span> to $<span id="xdx_90B_eus-gaap--IndefinitelivedIntangibleAssetsAcquired_c20220101__20221231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InternetDomainNamesMember__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsSegmentsMember_z9nazRbEzv44" title="indefinite-lived intangible assets acquired">175,000</span>, with the decrease in value allocated to the Company’s residual amount of goodwill held as of December 31, 2022. This adjustment was the product of an expanded valuation analysis performed by management in December 2022. As noted above, as of June 30, 2023, the Company considered the fair values of assets acquired and liabilities assumed to be final and no longer subject to potential adjustments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of the years ended December 31, 2023 and December 31, 2022, the Company reported the following intangible assets, net of amortization and excluding goodwill, under the respective operating segment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_z06ZHWwH2Gog" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_z2amFouRjxu2" style="display: none">SCHEDULE OF INTANGIBLE ASSETS,NET OF AMORTIZATION AND EXCLUDING GOODWILL</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_490_20231231_zcypin3c5sch" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">December 31, 2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_496_20221231_zntC5AcrcsM7" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">December 31, 2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_hus-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_zfdbViN1S28j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">CrossingBridge</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,044,398</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0775">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_hus-gaap--StatementBusinessSegmentsAxis__custom--WillowOakMember_zVA5fBRU0ILa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Willow Oak</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">492,051</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">534,195</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_hus-gaap--StatementBusinessSegmentsAxis__custom--InternetMember_zN4W3yiUTwh6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Internet</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">618,841</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">689,731</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_zPWh1tKbWTOd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Intangible assets, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,155,290</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,223,926</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zaEfPOSYNqmd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result of the Company’s impairment testing of goodwill and other intangible assets on December 31, 2023 and 2022, the Company determined that there were no impairment adjustments were necessary.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization expenses on intangible assets during the years ended December 31, 2023 and 2022 totaled $<span id="xdx_904_eus-gaap--AmortizationOfIntangibleAssets_c20230101__20231231_z3AQ8ipelxpf" title="Amortization of intangible assets">380,062</span> and $<span id="xdx_90C_eus-gaap--AmortizationOfIntangibleAssets_c20220101__20221231_zEgEgaqI4su4" title="Amortization of intangible assets">31,074</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_ecustom--EarnOutLiabilityPolicyTextBlock_znH19lqU2409" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_862_zTM8h85uniif">Earn-Out Liability</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company may enter into contingent payment arrangements in connection with the Company’s business combinations or asset purchases. In contingent payment arrangements, the Company agrees to pay transaction consideration to the seller based on future performance. The Company estimates the value of future payments of these potential future obligations at the time the business combination or asset purchase is consummated. The liabilities related to contingent payment arrangements are recorded under the earn-out liability line on the consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Contingent payment obligations related to asset purchases, if estimable and probable of payment, are initially recorded at their estimated value. When the contingency is ultimately resolved, any additional contingent consideration issued or issuable over the amount that was initially recognized as a liability is considered an additional cost of the acquisition. These additional costs would then be allocated to the qualifying assets on a relative fair value basis. See Note 5 for more information on the Company’s asset acquisition of the RiverPark Strategic Income Fund.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_ecustom--WOneWarrantAndRedeemableCommonStockPolicyTextBlock_zCR5Nrah9Kai" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_867_zkiGgWw6PPte">W-1 Warrant and Redeemable Class B Common Stock</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Merger Agreement, the Company issued <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--ScheduleOfSharesSubjectToMandatoryRedemptionBySettlementTermsAxis__us-gaap--CommonStockSubjectToMandatoryRedemptionMember_zInkjiMRH4kg" title="Number of shares issued">1,800,000</span> Class B Common Shares (as defined in Note 4) that are mandatorily redeemable upon exercise of the W-1 Warrant (as defined in Note 4), which provides the holder the ability to purchase <span id="xdx_906_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zQxSf5W88Fkk" title="Number of shares ability to purchase upon exercise of w-one warrant">1,800,000</span> Class A Common Shares (as defined in Note 4) at certain terms. Management has determined that the W-1 Warrant represents an embedded equity-linked feature within the Class B Common Shares, and therefore is valued in conjunction with the Class B Common Shares. The value of the W-1 Warrant and Class B Common Shares is determined using a Black-Scholes pricing model and is classified as a long-term liability on the consolidated balance sheets. The value is remeasured at each reporting date with the change in value flowing through the consolidated statements of operations for the relevant period under the “mark-to-market” line item. See Note 4 for additional terms of the W-1 Warrant and Class B Common Shares.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_eus-gaap--CompensationRelatedCostsPolicyTextBlock_zL5sIwOauXx9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_zxEJqBF7k158">Accrued Compensation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued compensation represents performance-based bonuses that have not yet been paid. Bonuses are subjective and are based on numerous factors including, but not limited to, individual performance, the underlying funds’ performance, and profitability of the firm, as well as the consideration of future outlook. Accrued bonus amounts can fluctuate due to a future perceived change in any one or more of these factors. Additionally, differences between historical, current, and future personnel allocations could significantly impact the comparability of bonus expenses period over period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 15pt; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_ecustom--OtherAccruedExpensesPolicyTextBlock_zAjAl8mlJgu5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86A_zWRVygqLqYtd">Other Accrued Expenses</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other accrued expenses represent incurred but not-yet-paid expenses from payroll accruals, professional fees, and other accrued taxes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84B_eus-gaap--LesseeLeasesPolicyTextBlock_zom2w6dzJwoe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_z0uH6jL2qmO8">Leases</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company records right-of-use assets and lease liabilities arising from both financing and operating leases that contain terms extending longer than one year. The Company does not recognize right-of-use assets or lease liabilities for short-term leases (those with original terms of 12 months or less). In making our determinations, the Company combines lease and non-lease elements of its leases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zJJRRMY9tvr8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_zEZa9iAMnBNa">Concentration of Revenue</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CBA is the adviser to five registered investment companies and manages one sub-fund under the CrossingBridge Family of Funds. The advised funds are the CrossingBridge Low Duration High Yield Fund, CrossingBridge Ultra-Short Duration Fund, RiverPark Strategic Income Fund, CrossingBridge Responsible Credit Fund, and the CrossingBridge Pre-Merger SPAC ETF, and the managed sub-fund is the CrossingBridge Low Duration High Income Fund. The combined AUM for these advised and managed funds was approximately $<span id="xdx_908_eus-gaap--AssetsUnderManagementCarryingAmount_iI_pn7n9_c20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--CrossingBridgeFamilyOfFundsMember_zjsxMdF6jfPd" title="Amount of combined AUM for advised funds">1.28</span> billion and $<span id="xdx_904_eus-gaap--AssetsUnderManagementCarryingAmount_iI_pn6n6_c20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--CrossingBridgeFamilyOfFundsMember_zMIrnJHcAngh" title="Amount of combined AUM for advised funds">614</span> million as of December 31, 2023 and 2022, respectively. CBA is also the sub-adviser to two 1940 Act registered mutual funds with AUM totaling approximately $<span id="xdx_90D_eus-gaap--AssetsUnderManagementCarryingAmount_iI_pn6n6_c20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--Two1940ActRegulatedMutualFundsMember_zynmKHARC3S9">560</span> million and $<span id="xdx_90F_eus-gaap--AssetsUnderManagementCarryingAmount_iI_pn6n6_c20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--Two1940ActRegulatedMutualFundsMember_zayK4m04M47e">664</span> million as of December 31, 2023 and 2022, respectively. Finally, CBA also earns revenue through a service agreement with a related party. See Note 3 for more information on the terms of the service agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CBA fee revenues earned from advised and managed funds, sub-advised funds, and service agreements for the years ended December 31, 2023 and 2022 included in the accompanying consolidated statements of operations are detailed below.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_890_eus-gaap--DisaggregationOfRevenueTableTextBlock_gL3DORTTB-CVXKJGT_zP2R4lWsaiff" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_z96EeIXij14j" style="display: none">SCHEDULE OF REVENUES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Year Ended December 31,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">CrossingBridge Operations Revenue</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Advised fund fee revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--AdvisedFundFeeRevenueMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zYzsVt4SC3x4" style="width: 16%; text-align: right" title="Total revenue">6,087,547</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--AdvisedFundFeeRevenueMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zmuSerOAxhhf" style="width: 16%; text-align: right" title="Total revenue">4,283,984</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sub-advised fund fee revenue</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--SubAdvisedFundFeeRevenueMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zSx6Vb6FCRRh" style="text-align: right" title="Total revenue">2,087,769</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--SubAdvisedFundFeeRevenueMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_ziOK59jMyqN4" style="text-align: right" title="Total revenue">2,740,605</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Service fee revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--ServiceFeeRevenueMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zo2Rr73Dgg5a" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenue">503,467</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--ServiceFeeRevenueMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zV479vG0Kehe" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenue">246,743</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total fee revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zruaYxCAZPNb" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenue">8,678,783</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zC2oYdp4RTPh" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenue">7,271,332</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zptuclX0xHoc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total revenue from the CrossingBridge operations was approximately <span id="xdx_905_ecustom--OperationRevenuePercentage_pid_dp_uPure_c20230101__20231231_zrJ8uJudTZF" title="Operation revenue percentage">90.5</span>% and <span id="xdx_908_ecustom--OperationRevenuePercentage_pid_dp_uPure_c20220101__20221231_zadUKvffNHIb" title="Operation revenue percentage">95.2</span>% of the Company’s total revenue for the years ended December 31, 2023 and 2022, respectively. If CBA were to lose a significant amount of AUM, the Company’s revenue would also decrease.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revenue Recognition</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>CrossingBridge Operations Revenue</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management fee shares earned through the CrossingBridge operations segment are recorded on a monthly basis and are included in revenue on the accompanying consolidated statements of operations. The Company has performed an assessment of its revenue contracts under the CrossingBridge operations segment and has not identified any contract assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Willow Oak Operations Revenue</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management fee shares and fund management services fees earned through the Willow Oak operations segment are recorded on a monthly basis and are included in revenue on the accompanying consolidated statements of operations. Performance fee shares are dependent upon exceeding specified relative or absolute investment return thresholds, which vary by affiliate relationship, and typically include annual measurement periods. Performance fee shares are recognized only when it is determined that there is no longer potential for significant reversal, such as when a fund’s performance exceeds a contractual threshold at the end of a specified measurement period. Consequently, a portion of the performance fee shares recognized may be partially or wholly related to services performed in prior periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fund management services revenue earned through the Willow Oak operations segment is also generally recorded on a monthly basis, which is in line with the timing of when services are provided. Occasionally, fund management services revenue is earned through bespoke consulting contracts performed over the course of multiple periods. In this instance, Willow Oak will only record and collect revenue for services received through the end of each monthly or quarterly period, as appropriate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has performed an assessment of its revenue contracts under the Willow Oak operations segment and has not identified any contract assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of revenue earned through Willow Oak operations during the year ended December 31, 2023 and the Post-Merger period from August 12, 2022 through December 31, 2022 and included on the accompanying consolidated statements of operations are detailed below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <div id="xdx_C00_gL3DORTTB-CVXKJGT_zW92SNgVwDia"><table cellpadding="0" cellspacing="0" id="xdx_30C_134_z1HEgtARhWS4" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto" summary="xdx: Disclosure - SCHEDULE OF REVENUES (Details)"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Year Ended December 31,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">Willow Oak Operations Revenue</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Management fee revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__custom--ManagementFeeRevenueMember_z4GbOFdMU4Be" style="width: 16%; text-align: right" title="Total revenue">64,254</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__custom--ManagementFeeRevenueMember_zFQhSog2R1F3" style="width: 16%; text-align: right" title="Total revenue">22,176</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fund management services revenue</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__custom--FundManagementServicesRevenueMember_z7nmQHFd4efd" style="text-align: right" title="Total revenue">109,282</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__custom--FundManagementServicesRevenueMember_zQFeewSjykIi" style="text-align: right" title="Total revenue">38,740</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Performance fee revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__custom--PerformanceFeeRevenueMember_zoWTj2hMtd5j" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenue">9,434</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__custom--PerformanceFeeRevenueMember_zdIOJOxXvxUg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenue">583</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zoIo3pYiaqJ1" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenue">182,970</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zQAVHsNhf5sc" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenue">61,499</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> </div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_C0A_gL3DORTTB-CVXKJGT_zzOE5bbe2sUg"> </span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Internet Operations Revenue</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company generates revenue through its internet operations segment from consumer and business-grade internet access, e-mail hosting and storage, wholesale managed modem services, e-mail and web hosting, third-party software as a reseller, and various ancillary services in the United States and Canada. Services include narrow-band (dial-up and ISDN) and broadband services (DSL, fiber-optic, and wireless), web hosting, and additional related services to consumers and businesses. Customers may also subscribe to web hosting plans to include email access and storage. Customer contracts through the internet operations segment can be structured as monthly or annual contracts. Under annual contracts, the subscriber pays a one-time annual fee, which is recognized as revenue ratably over the life of the contract. Under monthly contracts, the subscriber is billed monthly and revenue is recognized for the period to which the service relates. Domain name registration revenue is recognized at the point of registration. Sales of hardware are recognized as revenue upon delivery and acceptance of the product by the customer. Sales are adjusted for any returns or allowances. Management has concluded that the nature of the performance obligation is cyclical with a very low possibility for nonperformance. Contract liabilities (deferred revenue) are recognized in the amount of collections received in advance of services to be performed. No contract assets are recognized or incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Deferred Revenue</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred revenue represents collections from customers in advance of internet services to be performed. Revenue is recognized in the period service is provided. Total deferred revenue recorded under the internet operations segment as of December 31, 2023 and December 31, 2022 was $<span id="xdx_90A_eus-gaap--ContractWithCustomerLiability_iI_c20231231__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_zaAdCst8uLU6" title="Deferred revenue">147,039</span> and $<span id="xdx_905_eus-gaap--ContractWithCustomerLiability_iI_c20221231__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_zau0LzNDFs98" title="Deferred revenue">156,859</span>, respectively. During the year ended December 31, 2023, $<span id="xdx_90A_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_z6FMR1HpJFr1" title="Deferred revenue recognized">117,218 </span>of revenue was recognized from prior-year contract liabilities (deferred revenue). The internet operations segment did <span id="xdx_90B_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_do_c20220101__20221231__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_zrYvD1Opgj3h">no</span>t have comparable activity for the year ended December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_843_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zEVzlM4arnyb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86A_zQmffxQkaPpj">Stock Compensation Expense</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The board of directors of the Company adopted the ENDI Corp. 2022 Omnibus Equity Incentive Plan, dated December 19, 2022 (the “2022 Plan”), which was subsequently approved by the Company’s stockholders at the 2023 annual meeting of stockholders held on May 22, 2023 (“2023 Annual Meeting”) and became effective on that date. On February 28, 2023, subject to the approval of the 2022 Plan by our stockholders, the Company granted (i) restricted stock units, and (ii) restricted Class A Common Stock. If the 2022 Plan had not been approved by the Company’s stockholders at the 2023 Annual Meeting, then the awards granted on February 28, 2023 would have been forfeited. Vested restricted stock unit awards will be settled by the Company in the form of cash or the issuance and delivery of shares of Company Class A Common Stock in the year following the year the awards have become vested, but no later than March 15 of the following year. The Company has elected to ratably recognize the stock compensation expense associated with its outstanding equity awards over each award’s respective vesting period. Equity awards are valued on their respective grant date at fair market value, the then current trading value of the Company’s Class A Common Stock, and are not subject to future revaluation. On February 28, 2023, the closing stock price of the Company’s Class A Common Stock was $<span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20230228__20230228__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zUVcuOznSK62" title="Closing stock price on the grant date">4.35</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table below further details the awards granted on February 28, 2023, and represents the number of outstanding awards and the relevant income statement impact as of and during the year ended December 31, 2023. There were no comparable equity awards or income statement impacts as of and during the year ended December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock_zv9Z7mVrwDwf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zgaAWZeFQAqf" style="display: none">SUMMARY OF AWARDS GRANTED AND NUMBER OF OUTSTANDING AWARDS</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; vertical-align: bottom"> </td> <td colspan="2" style="text-align: center; vertical-align: bottom"><b>Number of</b></td><td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; vertical-align: bottom"> </td> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" style="text-align: center; font-weight: bold; vertical-align: bottom">Income Statement Impact for the</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Award Type</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom"><p style="margin-top: 0; margin-bottom: 0"></p> <p style="margin-top: 0; margin-bottom: 0">Awards</p> <p style="margin-top: 0; margin-bottom: 0">Outstanding</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Vesting Schedule</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Year Ended <br/> December 31, 2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: middle; text-align: left; width: 24%">Restricted stock units</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_c20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__custom--VestingInFourTranchesMember_zBUi4L3ka83j" style="vertical-align: middle; width: 18%; text-align: right" title="Number of class a common shares underlying awards outstanding">99,766</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__custom--VestingInFourTranchesMember_z1bqXuYad4K3" style="width: 30%; text-align: justify" title="Vesting schedule">25% on the second anniversary of January 1, 2023, and thereafter in three equal installments on the subsequent three anniversaries of the initial vesting date, with 100% of the restricted stock vested on the fifth anniversary of the initial vesting, subject to the recipient’s continuous employment.</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--AllocatedShareBasedCompensationExpense_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__custom--VestingInFourTranchesMember_zz4jGmh8Dfzj" style="vertical-align: middle; width: 18%; text-align: right" title="Award expense">72,331</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: middle; text-align: left">Restricted stock units</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_c20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__custom--VestingImmediatelyMember_zEadJZrQ13wj" style="vertical-align: middle; text-align: right" title="Number of class a common shares underlying awards outstanding">15,750</td><td style="text-align: left"> </td><td> </td> <td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__custom--VestingImmediatelyMember_zu0nDdahpQN" style="text-align: justify" title="Vesting schedule">Fully vested on the date of grant.</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--AllocatedShareBasedCompensationExpense_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__custom--VestingImmediatelyMember_zUtxR9X9KsYl" style="vertical-align: middle; text-align: right" title="Award expense">68,513</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: middle; text-align: left; padding-bottom: 1.5pt">Restricted stock</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_c20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__us-gaap--VestingAxis__custom--VestingInFourTranchesMember_zdPcFbRajIqh" style="border-bottom: Black 1.5pt solid; vertical-align: middle; text-align: right" title="Number of class a common shares underlying awards outstanding">82,761</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__us-gaap--VestingAxis__custom--VestingInFourTranchesMember_zUQusTrpJn28" style="text-align: justify; padding-bottom: 1.5pt" title="Vesting schedule">25% on the second anniversary of January 1, 2023, and thereafter in three equal installments on the subsequent three anniversaries of the initial vesting date, with 100% of the restricted stock vested on the fifth anniversary of the initial vesting, subject to the recipient’s continuous employment.</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--AllocatedShareBasedCompensationExpense_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__us-gaap--VestingAxis__custom--VestingInFourTranchesMember_zoFAARegnEOl" style="border-bottom: Black 1.5pt solid; vertical-align: middle; text-align: right" title="Award expense">60,002</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: middle; text-align: left; padding-bottom: 2.5pt">Total outstanding awards</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_c20231231_zawAVjjiVH07" style="border-bottom: Black 2.5pt double; vertical-align: middle; text-align: right" title="Number of class a common shares underlying awards outstanding">198,277</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: justify; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--AllocatedShareBasedCompensationExpense_c20230101__20231231_z64MMTwxdqba" style="border-bottom: Black 2.5pt double; vertical-align: middle; text-align: right" title="Award expense">200,846</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AA_zQcDZYIoAdr2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eus-gaap--IncomeTaxPolicyTextBlock_za511vG5AL2b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_863_zsnD3HrFOJre">Income Taxes</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income taxes for ENDI Corp. are accounted for under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax benefits or consequences of events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment, inclusive of the recent tax reform act. ENDI Corp. filed its first tax return for the year ended December 31, 2021, which is open to potential examination by the Internal Revenue Service for three years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As described further in Note 4, during the three-month period ended December 31, 2022, the Company recorded a measurement period adjustment to the preliminary recorded fair value assigned to the Company’s acquired net deferred tax assets on the Closing Date. The fair value of acquired net deferred tax assets was increased from $<span id="xdx_90C_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_c20220811_zIdmQlbXDwee" title="Fair value asssigned to net deferred tax assets">0</span> to $<span id="xdx_90B_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_c20221231_zgO3Ni4ml9z4" title="Fair value asssigned to net deferred tax assets">1,249,556</span>, with the corresponding decrease allocated to the Company’s residual amount of goodwill as of December 31, 2022. This adjustment was the product of an expanded analysis under Section 382 of the Internal Revenue Code of 1986, as amended (“Section 382”), that resulted in the recognition of historical net operating losses that were previously offset by a valuation allowance. The Company has determined that a change of control is more likely than not to have occurred on August 11, 2022 as a product of the Business Combination. While the Company’s historic net operating losses will be limited to an annual threshold as part of the change of control, the majority of the Company’s historical net operating losses do not expire and are expected to be used to offset future taxable income generated by the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2023 and 2022, the Company reported$<span id="xdx_900_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iI_c20231231_zKLiXLpp20r1">1,149,351 </span>and $<span id="xdx_906_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iI_c20221231_zi2p4Dwx2HDc">1,441,234</span> of net deferred tax assets on the consolidated balance sheet, respectively. These net deferred tax assets consist primarily of historic net operating losses that were acquired by the Company as part of the Business Combination, as well as post-closing activity which includes certain deferred tax assets and liabilities that were not previously recognized when CrossingBridge was a nontaxable entity. As of the years ended December 31, 2023 and 2022, the Company has not provided a valuation allowance against its net deferred tax assets. See Note 11 for more information.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In as much as CBA had a single member prior to the Closing Date, it had historically been treated as a disregarded entity for income tax purposes. Consequently, Federal and state income taxes have not been provided for periods ended prior to the Closing Date, as its single member was taxed directly on CBA’s earnings. CBA activity subsequent to the Closing Date was consolidated within ENDI Corp.’s tax return that was filed for the year ended December 31, 2022 and was included in the income tax provision for the year ended December 31, 2022. See Note 11 for more information.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the years ended December 31, 2023 and 2022, the Company reported $<span id="xdx_90A_eus-gaap--IncomeTaxExpenseBenefit_c20230101__20231231_zEAoVpwr4q6l" title="Income tax expense (benefit)">613,504</span> of income tax expense and $<span id="xdx_904_eus-gaap--IncomeTaxExpenseBenefit_iN_di_c20220101__20221231_zpLtwKywKos7" title="Income tax expense (benefit)">191,678</span> of income tax benefit, respectively, as a result of the Company’s current tax liabilities and the change in the Company’s net deferred tax assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84B_eus-gaap--EarningsPerSharePolicyTextBlock_zzoTIVi2kkxi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86A_zixnC6HbAYV3">Income (Loss) Per Share</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic income (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Included in the basic income (loss) per share for year ended December 31, 2023, in addition to the number of shares of common stock outstanding, are <span id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesRestrictedStock_c20230101__20231231_zGnMeDYea408" title="Underlying common stock equity incentives awarded pursuant to plan">15,750</span> shares underlying common stock equity incentives awarded pursuant to the Company’s 2022 Plan which vested immediately in full upon approval by the Company’s stockholders of the 2022 Plan at the 2023 Annual Meeting. These shares represent equity awards in the form of restricted stock units.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all potentially dilutive common shares is anti-dilutive. In periods of net income, diluted earnings per share is computed using the more dilutive of the “two-class method” or the “treasury method.” Dilutive earnings per share under the “two-class method” is calculated by dividing net income available to common stockholders as adjusted for the participating securities, by the weighted-average number of shares outstanding plus the dilutive impact of all other potentially dilutive common shares, consisting primarily of common shares underlying the Class W-1 and W-2 Warrants (as defined in Note 4) issued pursuant to the Merger Agreement. Dilutive earnings per share under the “treasury method” is calculated by dividing net income available to common stockholders by the weighted-average number of shares outstanding plus the dilutive impact of all potentially dilutive common shares, consisting primarily of common shares underlying the Class W-1 and W-2 Warrants issued pursuant to the Merger Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The number of potentially dilutive shares for the years ended December 31, 2023 and 2022, consisting of the Class W-1 and W-2 Warrants issued pursuant to the Merger Agreement, was <span id="xdx_900_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20230101__20231231_zMFzwwhj86T8" title="Number of potential dilutive shares"><span id="xdx_90A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20220101__20221231_zkDW24GCtZUb" title="Number of potential dilutive shares">2,050,000</span></span>. <span id="xdx_906_eus-gaap--IncrementalCommonSharesAttributableToCallOptionsAndWarrants_dn_c20230101__20231231_z49db3Ibo82g" title="Dilutive securities"><span id="xdx_90B_eus-gaap--IncrementalCommonSharesAttributableToCallOptionsAndWarrants_dn_c20220101__20221231_zu9Nk8kfdyOe" title="Dilutive securities">None</span></span> of the potentially dilutive securities had a dilutive impact during years ended December 31, 2023 and 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_z4k4v8mBenAa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_zxIffxYmQWDa">Recently Issued Accounting Pronouncements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, “Financial Instruments - Credit Losses” (Topic 326). The guidance eliminates the probable initial recognition threshold that was previously required prior to recognizing a credit loss on financial instruments. The credit loss estimate should now reflect an entity’s current estimate of all future expected credit losses. Under the previous guidance, an entity only considered past events and current conditions. In April 2019, the FASB further clarified the scope of the credit losses standard and addressed issues related to accrued interest receivable balances, recoveries, variable interest rates, and prepayments. In May 2019, the FASB issued further guidance to provide entities with an option to irrevocably elect the fair value option applied on an instrument-by-instrument basis for eligible financial instruments. In November 2019, the FASB issued further guidance on expected recoveries for purchased financial assets with credit deterioration, and transition refiled for troubled debt restructurings, disclosures related to accrued interest receivables, and financial assets secured by collateral maintenance provisions. The guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The adoption of certain amendments of this guidance must be applied on a modified retrospective basis and the adoption of the remaining amendments must be applied on a prospective basis. The Company currently expects that the adoption of this guidance may change the way it assesses the collectability of its receivables and recoverability of other financial instruments. The Company adopted this guidance as of January 1, 2023. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company does not believe that any other recently issued effective standards, or standards issued but not yet effective, if adopted, would have a material effect on the accompanying consolidated financial statements.</span></p> <p id="xdx_853_zQRFDnwPhZ72" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_848_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zlI1wvtaG4zd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span><span id="xdx_86A_zf3eXmV4kmrk">Basis of Presentation</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following Financial Accounting Standards Board guidance related to the accounting for reverse acquisitions, CrossingBridge’s historical carve-out financial statements replaced the Company’s (as the successor registrant to Enterprise Diversified) historical financial statements. Accordingly, the capital structure, and per share amounts presented in CrossingBridge’s historical carve-out financial statements for the periods prior to the Closing Date were recast to reflect the capital activity in accordance with the Merger Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The CrossingBridge Advisors, LLC carve-out for activity prior to the Closing Date is part of the Cohanzick financial statements. Prior to the Closing Date of the Mergers, CBA was a wholly-owned subsidiary of Cohanzick. The historical financial carve-out statements of CBA reflect the assets, liabilities, revenue, and expenses directly attributable to CBA, as well as allocations deemed reasonable by management, to present the financial position, statements of operations, statements of changes in stockholders’ equity, and statements of cash flows of CBA on a stand-alone basis and do not necessarily reflect the financial position, statements of operations, statements of changes in stockholders’ equity, and statements of cash flows of CBA in the future or what they would have been had CBA been a separate, stand-alone entity during the periods presented that include activity prior to the Closing Date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_eus-gaap--UseOfEstimates_z4lc5cYPl6P8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_867_zlO37zSgP6r5">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with GAAP, the preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On an ongoing basis, management evaluates its estimates and judgments, including, among other items, those related to fair value of investments, revenue recognition, accrued expenses, financing operations, fair value of goodwill, fixed asset lives and impairment, lease right-of-use assets and impairment, deferred tax assets, liabilities and valuation allowance, other assets, the present value of lease liabilities, and contingencies and litigation. Management bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions and conditions. These accounting policies are described in the relevant sections in the notes to the consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zhfOPyUgfG5d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zXBAyYwJo0r3">Concentration of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist of cash, cash equivalents, accounts receivable, and notes receivable. The Company places its cash with high-quality financial institutions and, at times, exceeds the FDIC and CDIC insurance limit. The Company extends credit based on an evaluation of customers’ financial condition, generally without collateral. Exposure to losses on receivables is principally dependent on each customer’s financial condition. The Company monitors its exposure for credit losses and maintains allowances for anticipated losses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zMZZX7tuLP25" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_zBFuzNb2Afu8">Cash and Cash Equivalent</span>s</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For purposes of the statements of cash flows, the Company defines cash equivalents as all highly liquid instruments purchased with a maturity and/or liquidation option of three months or less.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eus-gaap--InvestmentPolicyTextBlock_zUKguR58UX22" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_863_zjEKKm9DNf3l">Investments</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company holds various investments through its other operations segment. Investments are typically short-term, highly liquid investments, including vehicles such as: mutual funds, ETFs, commercial paper, and corporate and municipal bonds. Occasionally, the Company also invests in comparably less liquid, opportunistic investments. Investments held at fair value are remeasured to fair value on a recurring basis. Certain assets held through the other operations segment do not have a readily determinable value as these investments are either not publicly traded, do not have published sales records, or do not routinely make current financial information available. Assets that do not have a readily determinable value are remeasured when additional valuation inputs become observable. See Note 6 for more information.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_842_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zVY6atVInxh6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_868_zJ7FGltpTxDe">Accounts Receivable</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s CrossingBridge operations segment records receivable amounts for management fee shares earned on a monthly basis. Management fee shares are calculated and collected on a monthly basis. The Company historically has had no collection issues with management fee shares and the overall possibility for non-collection is extremely low. For these reasons, management has determined that it is not necessary to record an allowance against these receivables.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s Willow Oak operations segment records receivable amounts for management fee shares and fund management services revenue earned on a monthly basis. Management fee shares and fund management services fees are calculated and collected on either a monthly or quarterly basis as dictated by the respective partnership agreement. The Company historically has had no collection issues with management fee shares and fund management receivables and the overall possibility for non-collection is extremely low. For these reasons, management has determined that it is not necessary to record an allowance against these receivables.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s Willow Oak operations segment also records receivable amounts for performance fee shares earned on an annual basis. Performance fee shares are dependent upon exceeding specified relative or absolute investment return thresholds, which vary by affiliate relationship, and typically include annual measurement periods. The Company historically has had no collection issues with performance fee shares and the overall possibility for non-collection is extremely low. For these reasons, management has determined that it is not necessary to record an allowance against these receivables.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company grants credit in the form of unsecured accounts receivable to its customers through its internet operations segment. The current expected credit loss methodology is based on management’s assessment of the net amount expected to be collected from each customer. Specific customer receivables are considered past due when they are outstanding beyond their contractual terms and are written off from the allowance for credit losses when an account or invoice is individually determined to be uncollectible. The internet operations segment attempts to reduce the risk of non-collection by including a late-payment fee and a manual-processing-payment fee to customer accounts. Receivables more than 90 days past due are no longer included in accounts receivable and are turned over to a collection agency. Accounts receivable more than 30 days are considered past due.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2023 and December 31, 2022, allowances offsetting gross accounts receivable on the accompanying consolidated balance sheets totaled $<span id="xdx_90B_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iI_c20231231_zZ3MueitLvJi" title="Accounts receivable, allowance for credit loss">3,498</span> and $<span id="xdx_901_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iI_c20221231_z0HsBFp0YGV1" title="Accounts receivable, allowance for credit loss">2,283</span>, respectively. For the years ended December 31, 2023 and 2022, credit losses totaled $<span id="xdx_906_eus-gaap--ProvisionForDoubtfulAccounts_c20230101__20231231_zaM00UiY89db" title="Accounts receivable, credit loss expense (recoveries)">1,669</span> and $<span id="xdx_90F_eus-gaap--ProvisionForDoubtfulAccounts_c20220101__20221231_zPwl7lBCEEhe" title="Accounts receivable, credit loss expense (recoveries)">177</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 3498 2283 1669 177 <p id="xdx_848_eus-gaap--ReceivablesPolicyTextBlock_zRuPEX5GmYo3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_zb8BAuhG9RKf">Notes Receivable</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company does not routinely acquire notes receivable in the ordinary course of business, but when a business opportunity arises, a subsidiary may acquire a note if it appears to be favorable to the Company. Notes receivable are recorded at their principal amount and interest is accrued quarterly based on the applicable interest rate. The Company makes an assessment of the ultimate collectability of each note receivable on an annual basis based upon the financial condition of the borrower and adjusts the carrying value of the note receivable as deemed appropriate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zqfqYPHZsIH8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_862_zeP5IF39s559">Property and Equipment</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment are recorded at cost. Expenditures for maintenance and repairs are charged to operations as incurred, while renewals and betterments are capitalized. Gains and losses on disposals are included in the results of operations. Depreciation is computed using the straight-line method based on the estimated useful lives for each of the following asset classifications.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_ecustom--ScheduleOfPropertyPlantAndEquipmentUsefulLifeTableTextBlock_zI1ADqMh5o6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zrSK3DvKaGDl" style="display: none">SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT, USEFUL LIFE</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 60%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%; text-align: left">Vehicles (in years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VehicleMember_zR5aDL04ESni" title="Property and equipment, useful life (year)">5</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Furniture and fixtures (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zC94k4PzrlI4" title="Property and equipment, useful life (year)">5</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Equipment (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zMe2hOt15Wr" title="Property and equipment, useful life (year)">7</span></td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AB_zTdT6g8R1o7e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluates at each balance sheet date whether events and circumstances have occurred that indicate possible impairment. If there are indications of impairment, then the Company uses estimated future undiscounted cash flows of the related asset or asset grouping over the remaining life in measuring whether the assets are recoverable. In the event such cash flows are not expected to be sufficient to recover the recorded asset values, the assets are written down to their estimated fair value. Property and equipment to be disposed are reported at the lower of carrying amount or fair value of the asset less cost to sell.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_ecustom--ScheduleOfPropertyPlantAndEquipmentUsefulLifeTableTextBlock_zI1ADqMh5o6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zrSK3DvKaGDl" style="display: none">SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT, USEFUL LIFE</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 60%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%; text-align: left">Vehicles (in years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VehicleMember_zR5aDL04ESni" title="Property and equipment, useful life (year)">5</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Furniture and fixtures (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zC94k4PzrlI4" title="Property and equipment, useful life (year)">5</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Equipment (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zMe2hOt15Wr" title="Property and equipment, useful life (year)">7</span></td><td style="text-align: left"> </td></tr> </table> P5Y P5Y P7Y <p id="xdx_84D_eus-gaap--GoodwillAndIntangibleAssetsPolicyTextBlock_zYPhmtGw57G5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_861_zNqiSx8rinN7">Goodwill and Other Intangible Assets</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations accounted for under the acquisition method of accounting. The Company tests its goodwill annually as of December 31, or more often if events and circumstances indicate that those assets might not be recoverable. As of December 31, 2023 and December 31, 2022, the Company reported $<span id="xdx_90E_eus-gaap--Goodwill_iI_c20231231__us-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_zNZg5jlq1Ux1" title="Goodwill"><span id="xdx_908_eus-gaap--Goodwill_iI_c20221231__us-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_z8LvmxxrqlI2" title="Goodwill">737,869</span></span> of goodwill under the CrossingBridge operations segment. None of the Company’s recorded goodwill is tax deductible. The fair values assigned to tangible and intangible assets acquired as part of the Mergers are based on management’s estimates and assumptions. As of June 30, 2023, the Company considered the fair values of assets acquired and liabilities assumed to be final and no longer subject to potential adjustments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Impairment testing of goodwill is required at the reporting-unit level (operating segment or one level below operating segment). The impairment test involves calculating the impairment of goodwill based solely on the excess of the carrying value of the reporting unit over the fair value of the reporting unit. Prior to performing the impairment test, the Company may make a qualitative assessment of the likelihood of goodwill impairment to determine whether a detailed quantitative analysis is required. The Company estimates the fair value of its reporting units using discounted expected future cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets (other than goodwill) consist of customer relationships, trade names, investment management agreements, a non-compete, and domain names held amongst the CrossingBridge, Willow Oak and internet operations segments. When management determines that material intangible assets are acquired in conjunction with the purchase of a business or asset, the Company determines the fair values of the identifiable intangible assets by taking into account internal and external appraisals. Intangible assets determined to have definite lives are amortized over their estimated useful lives. The Company evaluates at each balance sheet date whether events and circumstances have occurred that indicate possible impairment. If there are indications of impairment, then the Company uses estimated future undiscounted cash flows of the related intangible asset or asset grouping over the remaining life in measuring whether the assets are recoverable. In the event such cash flows are not expected to be sufficient to recover the recorded asset values, the assets are written down to their estimated fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As described in Note 4, during the three-month period ended December 31, 2022, the Company recorded a measurement period adjustment to the preliminary recorded fair value assigned to the value of the Company’s acquired intangible assets, specifically the domain names held under the internet operations segment, reducing the preliminarily assessed fair value from $<span id="xdx_90F_eus-gaap--IndefinitelivedIntangibleAssetsAcquired_c20221001__20221231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InternetDomainNamesMember__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsSegmentsMember_z2xt90h3ARy1" title="indefinite-lived intangible assets acquired">235,000</span> to $<span id="xdx_90B_eus-gaap--IndefinitelivedIntangibleAssetsAcquired_c20220101__20221231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InternetDomainNamesMember__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsSegmentsMember_z9nazRbEzv44" title="indefinite-lived intangible assets acquired">175,000</span>, with the decrease in value allocated to the Company’s residual amount of goodwill held as of December 31, 2022. This adjustment was the product of an expanded valuation analysis performed by management in December 2022. As noted above, as of June 30, 2023, the Company considered the fair values of assets acquired and liabilities assumed to be final and no longer subject to potential adjustments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of the years ended December 31, 2023 and December 31, 2022, the Company reported the following intangible assets, net of amortization and excluding goodwill, under the respective operating segment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_z06ZHWwH2Gog" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_z2amFouRjxu2" style="display: none">SCHEDULE OF INTANGIBLE ASSETS,NET OF AMORTIZATION AND EXCLUDING GOODWILL</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_490_20231231_zcypin3c5sch" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">December 31, 2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_496_20221231_zntC5AcrcsM7" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">December 31, 2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_hus-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_zfdbViN1S28j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">CrossingBridge</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,044,398</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0775">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_hus-gaap--StatementBusinessSegmentsAxis__custom--WillowOakMember_zVA5fBRU0ILa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Willow Oak</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">492,051</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">534,195</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_hus-gaap--StatementBusinessSegmentsAxis__custom--InternetMember_zN4W3yiUTwh6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Internet</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">618,841</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">689,731</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_zPWh1tKbWTOd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Intangible assets, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,155,290</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,223,926</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zaEfPOSYNqmd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result of the Company’s impairment testing of goodwill and other intangible assets on December 31, 2023 and 2022, the Company determined that there were no impairment adjustments were necessary.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization expenses on intangible assets during the years ended December 31, 2023 and 2022 totaled $<span id="xdx_904_eus-gaap--AmortizationOfIntangibleAssets_c20230101__20231231_z3AQ8ipelxpf" title="Amortization of intangible assets">380,062</span> and $<span id="xdx_90C_eus-gaap--AmortizationOfIntangibleAssets_c20220101__20221231_zEgEgaqI4su4" title="Amortization of intangible assets">31,074</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 737869 737869 235000 175000 <p id="xdx_89A_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_z06ZHWwH2Gog" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_z2amFouRjxu2" style="display: none">SCHEDULE OF INTANGIBLE ASSETS,NET OF AMORTIZATION AND EXCLUDING GOODWILL</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_490_20231231_zcypin3c5sch" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">December 31, 2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_496_20221231_zntC5AcrcsM7" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">December 31, 2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_hus-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_zfdbViN1S28j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">CrossingBridge</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,044,398</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0775">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_hus-gaap--StatementBusinessSegmentsAxis__custom--WillowOakMember_zVA5fBRU0ILa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Willow Oak</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">492,051</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">534,195</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_hus-gaap--StatementBusinessSegmentsAxis__custom--InternetMember_zN4W3yiUTwh6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Internet</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">618,841</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">689,731</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_zPWh1tKbWTOd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Intangible assets, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,155,290</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,223,926</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 2044398 492051 534195 618841 689731 3155290 1223926 380062 31074 <p id="xdx_84D_ecustom--EarnOutLiabilityPolicyTextBlock_znH19lqU2409" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_862_zTM8h85uniif">Earn-Out Liability</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company may enter into contingent payment arrangements in connection with the Company’s business combinations or asset purchases. In contingent payment arrangements, the Company agrees to pay transaction consideration to the seller based on future performance. The Company estimates the value of future payments of these potential future obligations at the time the business combination or asset purchase is consummated. The liabilities related to contingent payment arrangements are recorded under the earn-out liability line on the consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Contingent payment obligations related to asset purchases, if estimable and probable of payment, are initially recorded at their estimated value. When the contingency is ultimately resolved, any additional contingent consideration issued or issuable over the amount that was initially recognized as a liability is considered an additional cost of the acquisition. These additional costs would then be allocated to the qualifying assets on a relative fair value basis. See Note 5 for more information on the Company’s asset acquisition of the RiverPark Strategic Income Fund.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_ecustom--WOneWarrantAndRedeemableCommonStockPolicyTextBlock_zCR5Nrah9Kai" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_867_zkiGgWw6PPte">W-1 Warrant and Redeemable Class B Common Stock</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Merger Agreement, the Company issued <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--ScheduleOfSharesSubjectToMandatoryRedemptionBySettlementTermsAxis__us-gaap--CommonStockSubjectToMandatoryRedemptionMember_zInkjiMRH4kg" title="Number of shares issued">1,800,000</span> Class B Common Shares (as defined in Note 4) that are mandatorily redeemable upon exercise of the W-1 Warrant (as defined in Note 4), which provides the holder the ability to purchase <span id="xdx_906_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zQxSf5W88Fkk" title="Number of shares ability to purchase upon exercise of w-one warrant">1,800,000</span> Class A Common Shares (as defined in Note 4) at certain terms. Management has determined that the W-1 Warrant represents an embedded equity-linked feature within the Class B Common Shares, and therefore is valued in conjunction with the Class B Common Shares. The value of the W-1 Warrant and Class B Common Shares is determined using a Black-Scholes pricing model and is classified as a long-term liability on the consolidated balance sheets. The value is remeasured at each reporting date with the change in value flowing through the consolidated statements of operations for the relevant period under the “mark-to-market” line item. See Note 4 for additional terms of the W-1 Warrant and Class B Common Shares.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1800000 1800000 <p id="xdx_844_eus-gaap--CompensationRelatedCostsPolicyTextBlock_zL5sIwOauXx9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_zxEJqBF7k158">Accrued Compensation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued compensation represents performance-based bonuses that have not yet been paid. Bonuses are subjective and are based on numerous factors including, but not limited to, individual performance, the underlying funds’ performance, and profitability of the firm, as well as the consideration of future outlook. Accrued bonus amounts can fluctuate due to a future perceived change in any one or more of these factors. Additionally, differences between historical, current, and future personnel allocations could significantly impact the comparability of bonus expenses period over period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 15pt; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_ecustom--OtherAccruedExpensesPolicyTextBlock_zAjAl8mlJgu5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86A_zWRVygqLqYtd">Other Accrued Expenses</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other accrued expenses represent incurred but not-yet-paid expenses from payroll accruals, professional fees, and other accrued taxes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84B_eus-gaap--LesseeLeasesPolicyTextBlock_zom2w6dzJwoe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_z0uH6jL2qmO8">Leases</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company records right-of-use assets and lease liabilities arising from both financing and operating leases that contain terms extending longer than one year. The Company does not recognize right-of-use assets or lease liabilities for short-term leases (those with original terms of 12 months or less). In making our determinations, the Company combines lease and non-lease elements of its leases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zJJRRMY9tvr8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_zEZa9iAMnBNa">Concentration of Revenue</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CBA is the adviser to five registered investment companies and manages one sub-fund under the CrossingBridge Family of Funds. The advised funds are the CrossingBridge Low Duration High Yield Fund, CrossingBridge Ultra-Short Duration Fund, RiverPark Strategic Income Fund, CrossingBridge Responsible Credit Fund, and the CrossingBridge Pre-Merger SPAC ETF, and the managed sub-fund is the CrossingBridge Low Duration High Income Fund. The combined AUM for these advised and managed funds was approximately $<span id="xdx_908_eus-gaap--AssetsUnderManagementCarryingAmount_iI_pn7n9_c20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--CrossingBridgeFamilyOfFundsMember_zjsxMdF6jfPd" title="Amount of combined AUM for advised funds">1.28</span> billion and $<span id="xdx_904_eus-gaap--AssetsUnderManagementCarryingAmount_iI_pn6n6_c20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--CrossingBridgeFamilyOfFundsMember_zMIrnJHcAngh" title="Amount of combined AUM for advised funds">614</span> million as of December 31, 2023 and 2022, respectively. CBA is also the sub-adviser to two 1940 Act registered mutual funds with AUM totaling approximately $<span id="xdx_90D_eus-gaap--AssetsUnderManagementCarryingAmount_iI_pn6n6_c20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--Two1940ActRegulatedMutualFundsMember_zynmKHARC3S9">560</span> million and $<span id="xdx_90F_eus-gaap--AssetsUnderManagementCarryingAmount_iI_pn6n6_c20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--Two1940ActRegulatedMutualFundsMember_zayK4m04M47e">664</span> million as of December 31, 2023 and 2022, respectively. Finally, CBA also earns revenue through a service agreement with a related party. See Note 3 for more information on the terms of the service agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CBA fee revenues earned from advised and managed funds, sub-advised funds, and service agreements for the years ended December 31, 2023 and 2022 included in the accompanying consolidated statements of operations are detailed below.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_890_eus-gaap--DisaggregationOfRevenueTableTextBlock_gL3DORTTB-CVXKJGT_zP2R4lWsaiff" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_z96EeIXij14j" style="display: none">SCHEDULE OF REVENUES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Year Ended December 31,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">CrossingBridge Operations Revenue</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Advised fund fee revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--AdvisedFundFeeRevenueMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zYzsVt4SC3x4" style="width: 16%; text-align: right" title="Total revenue">6,087,547</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--AdvisedFundFeeRevenueMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zmuSerOAxhhf" style="width: 16%; text-align: right" title="Total revenue">4,283,984</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sub-advised fund fee revenue</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--SubAdvisedFundFeeRevenueMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zSx6Vb6FCRRh" style="text-align: right" title="Total revenue">2,087,769</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--SubAdvisedFundFeeRevenueMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_ziOK59jMyqN4" style="text-align: right" title="Total revenue">2,740,605</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Service fee revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--ServiceFeeRevenueMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zo2Rr73Dgg5a" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenue">503,467</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--ServiceFeeRevenueMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zV479vG0Kehe" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenue">246,743</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total fee revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zruaYxCAZPNb" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenue">8,678,783</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zC2oYdp4RTPh" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenue">7,271,332</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zptuclX0xHoc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total revenue from the CrossingBridge operations was approximately <span id="xdx_905_ecustom--OperationRevenuePercentage_pid_dp_uPure_c20230101__20231231_zrJ8uJudTZF" title="Operation revenue percentage">90.5</span>% and <span id="xdx_908_ecustom--OperationRevenuePercentage_pid_dp_uPure_c20220101__20221231_zadUKvffNHIb" title="Operation revenue percentage">95.2</span>% of the Company’s total revenue for the years ended December 31, 2023 and 2022, respectively. If CBA were to lose a significant amount of AUM, the Company’s revenue would also decrease.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revenue Recognition</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>CrossingBridge Operations Revenue</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management fee shares earned through the CrossingBridge operations segment are recorded on a monthly basis and are included in revenue on the accompanying consolidated statements of operations. The Company has performed an assessment of its revenue contracts under the CrossingBridge operations segment and has not identified any contract assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Willow Oak Operations Revenue</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management fee shares and fund management services fees earned through the Willow Oak operations segment are recorded on a monthly basis and are included in revenue on the accompanying consolidated statements of operations. Performance fee shares are dependent upon exceeding specified relative or absolute investment return thresholds, which vary by affiliate relationship, and typically include annual measurement periods. Performance fee shares are recognized only when it is determined that there is no longer potential for significant reversal, such as when a fund’s performance exceeds a contractual threshold at the end of a specified measurement period. Consequently, a portion of the performance fee shares recognized may be partially or wholly related to services performed in prior periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fund management services revenue earned through the Willow Oak operations segment is also generally recorded on a monthly basis, which is in line with the timing of when services are provided. Occasionally, fund management services revenue is earned through bespoke consulting contracts performed over the course of multiple periods. In this instance, Willow Oak will only record and collect revenue for services received through the end of each monthly or quarterly period, as appropriate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has performed an assessment of its revenue contracts under the Willow Oak operations segment and has not identified any contract assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of revenue earned through Willow Oak operations during the year ended December 31, 2023 and the Post-Merger period from August 12, 2022 through December 31, 2022 and included on the accompanying consolidated statements of operations are detailed below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <div id="xdx_C00_gL3DORTTB-CVXKJGT_zW92SNgVwDia"><table cellpadding="0" cellspacing="0" id="xdx_30C_134_z1HEgtARhWS4" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto" summary="xdx: Disclosure - SCHEDULE OF REVENUES (Details)"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Year Ended December 31,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">Willow Oak Operations Revenue</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Management fee revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__custom--ManagementFeeRevenueMember_z4GbOFdMU4Be" style="width: 16%; text-align: right" title="Total revenue">64,254</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__custom--ManagementFeeRevenueMember_zFQhSog2R1F3" style="width: 16%; text-align: right" title="Total revenue">22,176</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fund management services revenue</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__custom--FundManagementServicesRevenueMember_z7nmQHFd4efd" style="text-align: right" title="Total revenue">109,282</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__custom--FundManagementServicesRevenueMember_zQFeewSjykIi" style="text-align: right" title="Total revenue">38,740</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Performance fee revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__custom--PerformanceFeeRevenueMember_zoWTj2hMtd5j" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenue">9,434</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__custom--PerformanceFeeRevenueMember_zdIOJOxXvxUg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenue">583</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zoIo3pYiaqJ1" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenue">182,970</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zQAVHsNhf5sc" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenue">61,499</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> </div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_C0A_gL3DORTTB-CVXKJGT_zzOE5bbe2sUg"> </span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Internet Operations Revenue</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company generates revenue through its internet operations segment from consumer and business-grade internet access, e-mail hosting and storage, wholesale managed modem services, e-mail and web hosting, third-party software as a reseller, and various ancillary services in the United States and Canada. Services include narrow-band (dial-up and ISDN) and broadband services (DSL, fiber-optic, and wireless), web hosting, and additional related services to consumers and businesses. Customers may also subscribe to web hosting plans to include email access and storage. Customer contracts through the internet operations segment can be structured as monthly or annual contracts. Under annual contracts, the subscriber pays a one-time annual fee, which is recognized as revenue ratably over the life of the contract. Under monthly contracts, the subscriber is billed monthly and revenue is recognized for the period to which the service relates. Domain name registration revenue is recognized at the point of registration. Sales of hardware are recognized as revenue upon delivery and acceptance of the product by the customer. Sales are adjusted for any returns or allowances. Management has concluded that the nature of the performance obligation is cyclical with a very low possibility for nonperformance. Contract liabilities (deferred revenue) are recognized in the amount of collections received in advance of services to be performed. No contract assets are recognized or incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Deferred Revenue</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred revenue represents collections from customers in advance of internet services to be performed. Revenue is recognized in the period service is provided. Total deferred revenue recorded under the internet operations segment as of December 31, 2023 and December 31, 2022 was $<span id="xdx_90A_eus-gaap--ContractWithCustomerLiability_iI_c20231231__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_zaAdCst8uLU6" title="Deferred revenue">147,039</span> and $<span id="xdx_905_eus-gaap--ContractWithCustomerLiability_iI_c20221231__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_zau0LzNDFs98" title="Deferred revenue">156,859</span>, respectively. During the year ended December 31, 2023, $<span id="xdx_90A_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_z6FMR1HpJFr1" title="Deferred revenue recognized">117,218 </span>of revenue was recognized from prior-year contract liabilities (deferred revenue). The internet operations segment did <span id="xdx_90B_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_do_c20220101__20221231__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_zrYvD1Opgj3h">no</span>t have comparable activity for the year ended December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 1280000000 614000000 560000000 664000000 <p id="xdx_890_eus-gaap--DisaggregationOfRevenueTableTextBlock_gL3DORTTB-CVXKJGT_zP2R4lWsaiff" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_z96EeIXij14j" style="display: none">SCHEDULE OF REVENUES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Year Ended December 31,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">CrossingBridge Operations Revenue</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Advised fund fee revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--AdvisedFundFeeRevenueMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zYzsVt4SC3x4" style="width: 16%; text-align: right" title="Total revenue">6,087,547</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--AdvisedFundFeeRevenueMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zmuSerOAxhhf" style="width: 16%; text-align: right" title="Total revenue">4,283,984</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sub-advised fund fee revenue</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--SubAdvisedFundFeeRevenueMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zSx6Vb6FCRRh" style="text-align: right" title="Total revenue">2,087,769</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--SubAdvisedFundFeeRevenueMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_ziOK59jMyqN4" style="text-align: right" title="Total revenue">2,740,605</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Service fee revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--ServiceFeeRevenueMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zo2Rr73Dgg5a" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenue">503,467</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--InvestmentTypeAxis__custom--ServiceFeeRevenueMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zV479vG0Kehe" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenue">246,743</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total fee revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zruaYxCAZPNb" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenue">8,678,783</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zC2oYdp4RTPh" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenue">7,271,332</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" id="xdx_30C_134_z1HEgtARhWS4" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto" summary="xdx: Disclosure - SCHEDULE OF REVENUES (Details)"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Year Ended December 31,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">Willow Oak Operations Revenue</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Management fee revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__custom--ManagementFeeRevenueMember_z4GbOFdMU4Be" style="width: 16%; text-align: right" title="Total revenue">64,254</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__custom--ManagementFeeRevenueMember_zFQhSog2R1F3" style="width: 16%; text-align: right" title="Total revenue">22,176</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fund management services revenue</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__custom--FundManagementServicesRevenueMember_z7nmQHFd4efd" style="text-align: right" title="Total revenue">109,282</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__custom--FundManagementServicesRevenueMember_zQFeewSjykIi" style="text-align: right" title="Total revenue">38,740</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Performance fee revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__custom--PerformanceFeeRevenueMember_zoWTj2hMtd5j" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenue">9,434</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__custom--PerformanceFeeRevenueMember_zdIOJOxXvxUg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenue">583</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zoIo3pYiaqJ1" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenue">182,970</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__srt--ProductOrServiceAxis__us-gaap--AssetManagement1Member_zQAVHsNhf5sc" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenue">61,499</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>   6087547 4283984 2087769 2740605 503467 246743 8678783 7271332 0.905 0.952 64254 22176 109282 38740 9434 583 182970 61499 147039 156859 117218 0 <p id="xdx_843_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zEVzlM4arnyb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86A_zQmffxQkaPpj">Stock Compensation Expense</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The board of directors of the Company adopted the ENDI Corp. 2022 Omnibus Equity Incentive Plan, dated December 19, 2022 (the “2022 Plan”), which was subsequently approved by the Company’s stockholders at the 2023 annual meeting of stockholders held on May 22, 2023 (“2023 Annual Meeting”) and became effective on that date. On February 28, 2023, subject to the approval of the 2022 Plan by our stockholders, the Company granted (i) restricted stock units, and (ii) restricted Class A Common Stock. If the 2022 Plan had not been approved by the Company’s stockholders at the 2023 Annual Meeting, then the awards granted on February 28, 2023 would have been forfeited. Vested restricted stock unit awards will be settled by the Company in the form of cash or the issuance and delivery of shares of Company Class A Common Stock in the year following the year the awards have become vested, but no later than March 15 of the following year. The Company has elected to ratably recognize the stock compensation expense associated with its outstanding equity awards over each award’s respective vesting period. Equity awards are valued on their respective grant date at fair market value, the then current trading value of the Company’s Class A Common Stock, and are not subject to future revaluation. On February 28, 2023, the closing stock price of the Company’s Class A Common Stock was $<span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20230228__20230228__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zUVcuOznSK62" title="Closing stock price on the grant date">4.35</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table below further details the awards granted on February 28, 2023, and represents the number of outstanding awards and the relevant income statement impact as of and during the year ended December 31, 2023. There were no comparable equity awards or income statement impacts as of and during the year ended December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock_zv9Z7mVrwDwf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zgaAWZeFQAqf" style="display: none">SUMMARY OF AWARDS GRANTED AND NUMBER OF OUTSTANDING AWARDS</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; vertical-align: bottom"> </td> <td colspan="2" style="text-align: center; vertical-align: bottom"><b>Number of</b></td><td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; vertical-align: bottom"> </td> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" style="text-align: center; font-weight: bold; vertical-align: bottom">Income Statement Impact for the</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Award Type</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom"><p style="margin-top: 0; margin-bottom: 0"></p> <p style="margin-top: 0; margin-bottom: 0">Awards</p> <p style="margin-top: 0; margin-bottom: 0">Outstanding</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Vesting Schedule</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Year Ended <br/> December 31, 2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: middle; text-align: left; width: 24%">Restricted stock units</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_c20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__custom--VestingInFourTranchesMember_zBUi4L3ka83j" style="vertical-align: middle; width: 18%; text-align: right" title="Number of class a common shares underlying awards outstanding">99,766</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__custom--VestingInFourTranchesMember_z1bqXuYad4K3" style="width: 30%; text-align: justify" title="Vesting schedule">25% on the second anniversary of January 1, 2023, and thereafter in three equal installments on the subsequent three anniversaries of the initial vesting date, with 100% of the restricted stock vested on the fifth anniversary of the initial vesting, subject to the recipient’s continuous employment.</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--AllocatedShareBasedCompensationExpense_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__custom--VestingInFourTranchesMember_zz4jGmh8Dfzj" style="vertical-align: middle; width: 18%; text-align: right" title="Award expense">72,331</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: middle; text-align: left">Restricted stock units</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_c20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__custom--VestingImmediatelyMember_zEadJZrQ13wj" style="vertical-align: middle; text-align: right" title="Number of class a common shares underlying awards outstanding">15,750</td><td style="text-align: left"> </td><td> </td> <td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__custom--VestingImmediatelyMember_zu0nDdahpQN" style="text-align: justify" title="Vesting schedule">Fully vested on the date of grant.</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--AllocatedShareBasedCompensationExpense_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__custom--VestingImmediatelyMember_zUtxR9X9KsYl" style="vertical-align: middle; text-align: right" title="Award expense">68,513</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: middle; text-align: left; padding-bottom: 1.5pt">Restricted stock</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_c20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__us-gaap--VestingAxis__custom--VestingInFourTranchesMember_zdPcFbRajIqh" style="border-bottom: Black 1.5pt solid; vertical-align: middle; text-align: right" title="Number of class a common shares underlying awards outstanding">82,761</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__us-gaap--VestingAxis__custom--VestingInFourTranchesMember_zUQusTrpJn28" style="text-align: justify; padding-bottom: 1.5pt" title="Vesting schedule">25% on the second anniversary of January 1, 2023, and thereafter in three equal installments on the subsequent three anniversaries of the initial vesting date, with 100% of the restricted stock vested on the fifth anniversary of the initial vesting, subject to the recipient’s continuous employment.</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--AllocatedShareBasedCompensationExpense_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__us-gaap--VestingAxis__custom--VestingInFourTranchesMember_zoFAARegnEOl" style="border-bottom: Black 1.5pt solid; vertical-align: middle; text-align: right" title="Award expense">60,002</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: middle; text-align: left; padding-bottom: 2.5pt">Total outstanding awards</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_c20231231_zawAVjjiVH07" style="border-bottom: Black 2.5pt double; vertical-align: middle; text-align: right" title="Number of class a common shares underlying awards outstanding">198,277</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: justify; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--AllocatedShareBasedCompensationExpense_c20230101__20231231_z64MMTwxdqba" style="border-bottom: Black 2.5pt double; vertical-align: middle; text-align: right" title="Award expense">200,846</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AA_zQcDZYIoAdr2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 4.35 <p id="xdx_89A_eus-gaap--DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock_zv9Z7mVrwDwf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zgaAWZeFQAqf" style="display: none">SUMMARY OF AWARDS GRANTED AND NUMBER OF OUTSTANDING AWARDS</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; vertical-align: bottom"> </td> <td colspan="2" style="text-align: center; vertical-align: bottom"><b>Number of</b></td><td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; vertical-align: bottom"> </td> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" style="text-align: center; font-weight: bold; vertical-align: bottom">Income Statement Impact for the</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Award Type</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom"><p style="margin-top: 0; margin-bottom: 0"></p> <p style="margin-top: 0; margin-bottom: 0">Awards</p> <p style="margin-top: 0; margin-bottom: 0">Outstanding</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Vesting Schedule</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Year Ended <br/> December 31, 2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: middle; text-align: left; width: 24%">Restricted stock units</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_c20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__custom--VestingInFourTranchesMember_zBUi4L3ka83j" style="vertical-align: middle; width: 18%; text-align: right" title="Number of class a common shares underlying awards outstanding">99,766</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__custom--VestingInFourTranchesMember_z1bqXuYad4K3" style="width: 30%; text-align: justify" title="Vesting schedule">25% on the second anniversary of January 1, 2023, and thereafter in three equal installments on the subsequent three anniversaries of the initial vesting date, with 100% of the restricted stock vested on the fifth anniversary of the initial vesting, subject to the recipient’s continuous employment.</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--AllocatedShareBasedCompensationExpense_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__custom--VestingInFourTranchesMember_zz4jGmh8Dfzj" style="vertical-align: middle; width: 18%; text-align: right" title="Award expense">72,331</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: middle; text-align: left">Restricted stock units</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_c20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__custom--VestingImmediatelyMember_zEadJZrQ13wj" style="vertical-align: middle; text-align: right" title="Number of class a common shares underlying awards outstanding">15,750</td><td style="text-align: left"> </td><td> </td> <td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__custom--VestingImmediatelyMember_zu0nDdahpQN" style="text-align: justify" title="Vesting schedule">Fully vested on the date of grant.</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--AllocatedShareBasedCompensationExpense_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__custom--VestingImmediatelyMember_zUtxR9X9KsYl" style="vertical-align: middle; text-align: right" title="Award expense">68,513</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: middle; text-align: left; padding-bottom: 1.5pt">Restricted stock</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_c20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__us-gaap--VestingAxis__custom--VestingInFourTranchesMember_zdPcFbRajIqh" style="border-bottom: Black 1.5pt solid; vertical-align: middle; text-align: right" title="Number of class a common shares underlying awards outstanding">82,761</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__us-gaap--VestingAxis__custom--VestingInFourTranchesMember_zUQusTrpJn28" style="text-align: justify; padding-bottom: 1.5pt" title="Vesting schedule">25% on the second anniversary of January 1, 2023, and thereafter in three equal installments on the subsequent three anniversaries of the initial vesting date, with 100% of the restricted stock vested on the fifth anniversary of the initial vesting, subject to the recipient’s continuous employment.</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--AllocatedShareBasedCompensationExpense_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__us-gaap--VestingAxis__custom--VestingInFourTranchesMember_zoFAARegnEOl" style="border-bottom: Black 1.5pt solid; vertical-align: middle; text-align: right" title="Award expense">60,002</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: middle; text-align: left; padding-bottom: 2.5pt">Total outstanding awards</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_c20231231_zawAVjjiVH07" style="border-bottom: Black 2.5pt double; vertical-align: middle; text-align: right" title="Number of class a common shares underlying awards outstanding">198,277</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: justify; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--AllocatedShareBasedCompensationExpense_c20230101__20231231_z64MMTwxdqba" style="border-bottom: Black 2.5pt double; vertical-align: middle; text-align: right" title="Award expense">200,846</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 99766 25% on the second anniversary of January 1, 2023, and thereafter in three equal installments on the subsequent three anniversaries of the initial vesting date, with 100% of the restricted stock vested on the fifth anniversary of the initial vesting, subject to the recipient’s continuous employment. 72331 15750 Fully vested on the date of grant. 68513 82761 25% on the second anniversary of January 1, 2023, and thereafter in three equal installments on the subsequent three anniversaries of the initial vesting date, with 100% of the restricted stock vested on the fifth anniversary of the initial vesting, subject to the recipient’s continuous employment. 60002 198277 200846 <p id="xdx_84A_eus-gaap--IncomeTaxPolicyTextBlock_za511vG5AL2b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_863_zsnD3HrFOJre">Income Taxes</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income taxes for ENDI Corp. are accounted for under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax benefits or consequences of events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment, inclusive of the recent tax reform act. ENDI Corp. filed its first tax return for the year ended December 31, 2021, which is open to potential examination by the Internal Revenue Service for three years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As described further in Note 4, during the three-month period ended December 31, 2022, the Company recorded a measurement period adjustment to the preliminary recorded fair value assigned to the Company’s acquired net deferred tax assets on the Closing Date. The fair value of acquired net deferred tax assets was increased from $<span id="xdx_90C_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_c20220811_zIdmQlbXDwee" title="Fair value asssigned to net deferred tax assets">0</span> to $<span id="xdx_90B_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_c20221231_zgO3Ni4ml9z4" title="Fair value asssigned to net deferred tax assets">1,249,556</span>, with the corresponding decrease allocated to the Company’s residual amount of goodwill as of December 31, 2022. This adjustment was the product of an expanded analysis under Section 382 of the Internal Revenue Code of 1986, as amended (“Section 382”), that resulted in the recognition of historical net operating losses that were previously offset by a valuation allowance. The Company has determined that a change of control is more likely than not to have occurred on August 11, 2022 as a product of the Business Combination. While the Company’s historic net operating losses will be limited to an annual threshold as part of the change of control, the majority of the Company’s historical net operating losses do not expire and are expected to be used to offset future taxable income generated by the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2023 and 2022, the Company reported$<span id="xdx_900_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iI_c20231231_zKLiXLpp20r1">1,149,351 </span>and $<span id="xdx_906_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iI_c20221231_zi2p4Dwx2HDc">1,441,234</span> of net deferred tax assets on the consolidated balance sheet, respectively. These net deferred tax assets consist primarily of historic net operating losses that were acquired by the Company as part of the Business Combination, as well as post-closing activity which includes certain deferred tax assets and liabilities that were not previously recognized when CrossingBridge was a nontaxable entity. As of the years ended December 31, 2023 and 2022, the Company has not provided a valuation allowance against its net deferred tax assets. See Note 11 for more information.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In as much as CBA had a single member prior to the Closing Date, it had historically been treated as a disregarded entity for income tax purposes. Consequently, Federal and state income taxes have not been provided for periods ended prior to the Closing Date, as its single member was taxed directly on CBA’s earnings. CBA activity subsequent to the Closing Date was consolidated within ENDI Corp.’s tax return that was filed for the year ended December 31, 2022 and was included in the income tax provision for the year ended December 31, 2022. See Note 11 for more information.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the years ended December 31, 2023 and 2022, the Company reported $<span id="xdx_90A_eus-gaap--IncomeTaxExpenseBenefit_c20230101__20231231_zEAoVpwr4q6l" title="Income tax expense (benefit)">613,504</span> of income tax expense and $<span id="xdx_904_eus-gaap--IncomeTaxExpenseBenefit_iN_di_c20220101__20221231_zpLtwKywKos7" title="Income tax expense (benefit)">191,678</span> of income tax benefit, respectively, as a result of the Company’s current tax liabilities and the change in the Company’s net deferred tax assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0 1249556 1149351 1441234 613504 -191678 <p id="xdx_84B_eus-gaap--EarningsPerSharePolicyTextBlock_zzoTIVi2kkxi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86A_zixnC6HbAYV3">Income (Loss) Per Share</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic income (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Included in the basic income (loss) per share for year ended December 31, 2023, in addition to the number of shares of common stock outstanding, are <span id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesRestrictedStock_c20230101__20231231_zGnMeDYea408" title="Underlying common stock equity incentives awarded pursuant to plan">15,750</span> shares underlying common stock equity incentives awarded pursuant to the Company’s 2022 Plan which vested immediately in full upon approval by the Company’s stockholders of the 2022 Plan at the 2023 Annual Meeting. These shares represent equity awards in the form of restricted stock units.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all potentially dilutive common shares is anti-dilutive. In periods of net income, diluted earnings per share is computed using the more dilutive of the “two-class method” or the “treasury method.” Dilutive earnings per share under the “two-class method” is calculated by dividing net income available to common stockholders as adjusted for the participating securities, by the weighted-average number of shares outstanding plus the dilutive impact of all other potentially dilutive common shares, consisting primarily of common shares underlying the Class W-1 and W-2 Warrants (as defined in Note 4) issued pursuant to the Merger Agreement. Dilutive earnings per share under the “treasury method” is calculated by dividing net income available to common stockholders by the weighted-average number of shares outstanding plus the dilutive impact of all potentially dilutive common shares, consisting primarily of common shares underlying the Class W-1 and W-2 Warrants issued pursuant to the Merger Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The number of potentially dilutive shares for the years ended December 31, 2023 and 2022, consisting of the Class W-1 and W-2 Warrants issued pursuant to the Merger Agreement, was <span id="xdx_900_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20230101__20231231_zMFzwwhj86T8" title="Number of potential dilutive shares"><span id="xdx_90A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20220101__20221231_zkDW24GCtZUb" title="Number of potential dilutive shares">2,050,000</span></span>. <span id="xdx_906_eus-gaap--IncrementalCommonSharesAttributableToCallOptionsAndWarrants_dn_c20230101__20231231_z49db3Ibo82g" title="Dilutive securities"><span id="xdx_90B_eus-gaap--IncrementalCommonSharesAttributableToCallOptionsAndWarrants_dn_c20220101__20221231_zu9Nk8kfdyOe" title="Dilutive securities">None</span></span> of the potentially dilutive securities had a dilutive impact during years ended December 31, 2023 and 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 15750 2050000 2050000 0 0 <p id="xdx_845_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_z4k4v8mBenAa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_zxIffxYmQWDa">Recently Issued Accounting Pronouncements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, “Financial Instruments - Credit Losses” (Topic 326). The guidance eliminates the probable initial recognition threshold that was previously required prior to recognizing a credit loss on financial instruments. The credit loss estimate should now reflect an entity’s current estimate of all future expected credit losses. Under the previous guidance, an entity only considered past events and current conditions. In April 2019, the FASB further clarified the scope of the credit losses standard and addressed issues related to accrued interest receivable balances, recoveries, variable interest rates, and prepayments. In May 2019, the FASB issued further guidance to provide entities with an option to irrevocably elect the fair value option applied on an instrument-by-instrument basis for eligible financial instruments. In November 2019, the FASB issued further guidance on expected recoveries for purchased financial assets with credit deterioration, and transition refiled for troubled debt restructurings, disclosures related to accrued interest receivables, and financial assets secured by collateral maintenance provisions. The guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The adoption of certain amendments of this guidance must be applied on a modified retrospective basis and the adoption of the remaining amendments must be applied on a prospective basis. The Company currently expects that the adoption of this guidance may change the way it assesses the collectability of its receivables and recoverability of other financial instruments. The Company adopted this guidance as of January 1, 2023. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company does not believe that any other recently issued effective standards, or standards issued but not yet effective, if adopted, would have a material effect on the accompanying consolidated financial statements.</span></p> <p id="xdx_80A_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_z3swOzBxAf09" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 3. <span id="xdx_823_zIB7wA2tky4i">RELATED PARTY TRANSACTIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CrossingBridge Advisors, LLC</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>RiverPark Strategic Income Fund Asset Acquisition</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 18, 2022, CBA entered into a Purchase and Assignment and Assumption Agreement, as amended on December 28, 2022 (as amended, the “RiverPark Agreement”), with RiverPark Advisors, LLC and Cohanzick, the Company’s majority stockholder and historical sole member of CBA that is majority owned by the Company’s CEO and director, David Sherman, pursuant to which RiverPark Advisors, LLC intended to sell to CBA certain assets and CBA intended to assume certain liabilities, including certain rights and responsibilities under the RiverPark Advisory Agreement (as defined herein) and the RiverPark Expense Limitation Agreement (as defined herein) relating to the provision of investment advisory services for the mutual fund known as RiverPark Strategic Income Fund (the “RiverPark Fund”), subject to certain terms and conditions set forth in the agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the RiverPark Agreement, no consideration was paid upon closing; however, <span id="xdx_907_ecustom--DescriptionOfAmountPayableAsPerAgreement_c20221118__20221118__us-gaap--TypeOfArrangementAxis__custom--RiverParkAgreementMember_zQxZlikFfOMf" title="Description of amount payable as per agreement">CBA shall pay an amount approximately equal to 50% of RiverPark Fund’s management fees (as set forth in RiverPark Fund’s prospectus) to RiverPark (the prior adviser) and Cohanzick (the prior sub-adviser) for a period of three years after closing, and pay an amount approximately equal to 20% of the RiverPark Fund’s management fees in the fourth and fifth years after closing as set forth in the RiverPark Agreement.</span> Notwithstanding the foregoing, certain of the amounts payable based on the RiverPark Fund’s management fees pursuant to the RiverPark Agreement during the first three years after the closing shall be capped such that they are less than $<span id="xdx_90E_ecustom--AggregateAmountPayableBasedOnFundManagementFees_iI_pn5n6_c20221118__us-gaap--TypeOfArrangementAxis__custom--RiverParkAgreementMember_z6G4edxayXpi" title="Aggregate amount payable based on fund management fees">1.3</span> million in the aggregate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with the RiverPark Agreement, Cohanzick and CBA entered into an agreement which prohibits Cohanzick from competing with a substantially similar strategic income strategy as the RiverPark Fund as an adviser or sub-adviser to a fund registered under the 1940 Act or any Undertakings for the Collective Investment in Transferable Securities (“UCITS”) products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, payments made by CBA to Cohanzick in accordance with the RiverPark Agreement totaled $<span id="xdx_90B_eus-gaap--RepaymentsOfRelatedPartyDebt_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember__us-gaap--TypeOfArrangementAxis__custom--RiverParkAgreementMember_zk6vQNJJdqp4" title="Payments of related party debt">219,972</span>. There were <span id="xdx_90C_eus-gaap--RepaymentsOfRelatedPartyDebt_do_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember__us-gaap--TypeOfArrangementAxis__custom--RiverParkAgreementMember_zfJm381swpT3" title="Payments of related party debt">no</span> comparable payments made during the year ended December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Historical Shared Expenses Prior to Consummation of the Mergers</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company, through CrossingBridge, and Cohanzick, shared certain staff, office facilities, and administrative services. The parties involved had agreed to allocate these expenses based on the AUM of each party for activity occurring prior to the consummation of the Mergers. These allocated expenses are reported under the CrossingBridge operations segment in the accompanying consolidated statements of operations in the categories for which the utilization of services relates. A summary of the expenses allocated from Cohanzick to CBA for the year ended December 31, 2022 is noted below. There is no comparable activity for the year ended December 31, 2023, because Post-Merger there were no CBA expenses allocated in this manner.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eus-gaap--ScheduleOfRelatedPartyTransactionsTableTextBlock_zNWkiGPgujUg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zTyUIFo5qnv3" style="display: none">SUMMARY OF EXPENSES ALLOCATED TO RELATED PARTIES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Year Ended December 31,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">Cohanzick Management Expense Allocation</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Employee compensation and benefit expenses allocated</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--OperatingCostsAndExpenses_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--EmployeeCompensationAndBenefitExpensesAllocatedMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zSQEaTVY4fh3" style="width: 16%; text-align: right" title="Total allocated expenses"><span style="-sec-ix-hidden: xdx2ixbrl0925">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--OperatingCostsAndExpenses_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--EmployeeCompensationAndBenefitExpensesAllocatedMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zgEu6Mv2jyKh" style="width: 16%; text-align: right" title="Total allocated expenses">284,850</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Owner compensation and benefit expenses allocated</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--OperatingCostsAndExpenses_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--OwnerCompensationAndBenefitExpensesAllocatedMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_z5cirmGDiQT" style="text-align: right" title="Total allocated expenses"><span style="-sec-ix-hidden: xdx2ixbrl0929">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--OperatingCostsAndExpenses_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--OwnerCompensationAndBenefitExpensesAllocatedMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zTW8tlBMXdyg" style="text-align: right" title="Total allocated expenses">612,387</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Other allocated expenses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--OperatingCostsAndExpenses_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--OtherAllocatedExpensesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zEs22VLqI9x5" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total allocated expenses">    <span style="-sec-ix-hidden: xdx2ixbrl0933">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--OperatingCostsAndExpenses_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--OtherAllocatedExpensesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zlgrW9WKLIy1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total allocated expenses">269,830</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total allocated expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--OperatingCostsAndExpenses_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zsyHhSbVRlsd" style="border-bottom: Black 2.5pt double; text-align: right" title="Total allocated expenses"><span style="-sec-ix-hidden: xdx2ixbrl0937">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--OperatingCostsAndExpenses_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zksIz9qZZFD" style="border-bottom: Black 2.5pt double; text-align: right" title="Total allocated expenses">1,167,067</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A7_z81grPLnitT3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There was no due to affiliate balance between CBA and Cohanzick reported on the Company’s consolidated balance sheets as of the years ended December 31, 2023 and 2022. Any due to affiliate balance is due 13 months after the calendar year-end upon 60 days’ written notice. If no notice is given, the date payment is due would extend for another 12 months with <span id="xdx_90D_ecustom--DueToAffiliateInterestRateWithExtension_pid_dp_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--SharingOfCertainStaffOfficeFacilitiesAndAdministrativeServicesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zGEneP6WvVie" title="Interest rate">0</span>% interest. Repayments made during the year ended December 31, 2022 by CBA to Cohanzick, for allocated expenses recorded during the year ended December 31, 2021, totaled $<span id="xdx_90F_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20210101__20211231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--SharingOfCertainStaffOfficeFacilitiesAndAdministrativeServicesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zWpH1a6JPsUk" title="Repayments made for allocated expenses">3,646,038</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Services Agreement with Cohanzick</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with the closing of the Mergers, CrossingBridge entered into a Services Agreement (the “Services Agreement”) with Cohanzick pursuant to which CrossingBridge will make available to Cohanzick certain of its employees to provide investment advisory, portfolio management and other services to Cohanzick and, through Cohanzick, to Cohanzick’s clients. Any such individuals will be subject to the oversight and control of Cohanzick, and any services so provided to Cohanzick or a client of Cohanzick will be provided by such CBA employees in the capacity of a supervised person of Cohanzick. Cohanzick additionally may use the systems of CBA or its affiliates for its daily operations; provided that appropriate policies, procedures, and other safeguards are established to assure that (a) the books and records of each of CBA and Cohanzick are created and maintained in a manner so as to be clearly separate and distinct from those of the other person and the clients of such person, and (b) confidential client and/or other material non-public information relating to the investment advisory activities of CBA or Cohanzick, as applicable, or other proprietary information regarding either such person or its clients, is safeguarded and maintained for the benefit of such person. As consideration for its services, Cohanzick will pay CBA a quarterly fee equal to <span id="xdx_906_ecustom--RelatedPartyTransactionQuarterlyFeePercentageOfMonthlyWeightedAverageAssetsUnderManagement_iI_pid_dp_uPure_c20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zgyJdL8N55Da" title="Percentage of the monthly weighted average asset under management">0.05</span>% per annum of the monthly weighted average AUM during such quarter with respect to all clients for which Cohanzick has full investment discretion. Cohanzick and CrossingBridge will also split the payment of certain costs of other systems which use is shared between Cohanzick and CrossingBridge. The initial term of the agreement was one year from the Closing Date. The Services Agreement shall continue until terminated pursuant to its terms. Specifically, after August 11, 2023, either party may terminate the Services Agreement upon at least 120 days’ prior written notice to the other party. Notwithstanding the foregoing, either party may terminate the Services Agreement at any time upon written notice following a material breach of the Services Agreement by other party that remains uncured for at least 30 days after the other party receives notice of, or otherwise reasonably should have been aware of, the material breach.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the years ended December 31, 2023 and 2022, CBA reported $<span id="xdx_901_eus-gaap--OperatingExpenses_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zZUXVSBpvFl5" title="Operating expenses">205,074</span> and $<span id="xdx_906_eus-gaap--OperatingExpenses_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zQo3htcNAs37" title="Operating expenses">61,791</span> of operating expenses pursuant to the Services Agreement with Cohanzick, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the years ended December 31, 2023 and 2022, CBA earned $<span id="xdx_90B_eus-gaap--Revenues_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zdb3lfcse783" title="Revenues">503,467</span> and $<span id="xdx_90C_eus-gaap--Revenues_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_z3hcdcrJjaJi" title="Revenues">246,743</span> of revenue from the Services Agreement with Cohanzick, respectively. As of December 31, 2023 and 2022, receivables of $<span id="xdx_904_eus-gaap--AccountsReceivableNet_iI_c20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--OperatingAccountsReceivableMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zMxzwzLZm3Gk" title="Related party receivable">109,659</span> and $<span id="xdx_903_eus-gaap--AccountsReceivableNet_iI_c20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--OperatingAccountsReceivableMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zFcWy4aAX1Ed" title="Related party receivable">160,330</span>, respectively, related to the Services Agreement revenue are included in accounts receivable on the accompanying consolidated balance sheets. The Services Agreement receivable amounts recorded as of the year ended December 31, 2023 and 2022, were both collected in full during the subsequent calendar year.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>License Agreement between CBA and Cohanzick</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Merger Agreement, the Company, through CBA, and Cohanzick entered into a license agreement. The license agreement provides CBA with the right to use and occupy certain office space originally leased by Cohanzick from a third-party landlord pursuant to a lease agreement dated November 23, 2018. The initial term of the license agreement runs through the first anniversary of the commencement date of the license agreement and will automatically renew for subsequent one-year terms unless otherwise earlier terminated pursuant to the terms thereof. Pursuant to the license agreement, CBA shall pay Cohanzick a fee equal to Licensee’s Share (as defined herein) of the following charges: a monthly base rental and increases in certain taxes and operating expenses. “Licensee’s Share” means for a calendar month that occurs in whole or in part during the term, the fraction, expressed as a percentage, the numerator of which is the number of CBA employees that occupied the licensed premises as of the first business day of such calendar month, and the denominator of which is the number of Cohanzick and CBA employees that occupied the premises as of the first business day of such calendar month, as reasonably determined by Cohanzick.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the years ended December 31, 2023 and 2022, CBA paid $<span id="xdx_906_eus-gaap--OperatingLeasePayments_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zwrE98QobOf1" title="Rental expenses">68,755</span> and $<span id="xdx_907_eus-gaap--OperatingLeasePayments_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zJoTl5d5vHu9" title="Rental expenses">25,533</span>, respectively, of rental expenses, including utilities, per the license agreement with Cohanzick.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Subsequent Event</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 9, 2024, CBA replaced its affiliate Cohanzick as the Sub-Adviser to the RiverPark Short Term High Yield Fund (the “RiverPark Fund”). RiverPark Advisors, LLC (“RiverPark”) remains the advisor to the RiverPark Fund.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The RiverPark Fund, which has been advised by RiverPark and sub-advised by Cohanzick since its inception on September 30, 2010, currently has in excess of $<span id="xdx_908_eus-gaap--AssetsUnderManagementCarryingAmount_iI_pn6n6_c20240309__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeAdvisorsLLCMember__dei--LegalEntityAxis__custom--RiverParkAdvisorsLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zJKrCWXISSEk" title="Assets under management">780</span> million in AUM. Current Portfolio Manager, David Sherman, will continue to manage the RiverPark Fund in his capacity as President and Portfolio Manager of CBA, thereby consolidating all investment strategies under the CBA fund family.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally, on March 8, 2024, Cohanzick entered into an agreement with CBA to assign all other investment advisory contracts and additional assets, and CBA assumed certain liabilities arising from such advisory contracts. Cohanzick will deregister as a registered investment advisor. CBA paid Cohanzick $<span id="xdx_908_eus-gaap--NoninterestExpenseInvestmentAdvisoryFees_c20240308__20240308__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeAdvisorsLLCMember__dei--LegalEntityAxis__custom--RiverParkAdvisorsLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_z78raKLpswsf" title="Advisory contracts amount">10,000,000</span> for the advisory contracts by way of a promissory note. CBA will pay Cohanzick quarterly interest payments beginning on June 30, 2024 until the note is paid in full. The note matures on March 8, 2031. CBA cannot prepay all or any portion of the principal amount of the note prior to March 8, 2027. After March 8, 2027, CBA may prepay the note without any penalty or premium. The note is solely an obligation of CBA and is non-recourse to ENDI. There has been no change in ownership among Cohanzick, CBA and ENDI.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Enterprise Diversified, Inc.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Due from Affiliate</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Merger Agreement, Enterprise Diversified agreed to reimburse Cohanzick for certain fees and expenses, comprising primarily of legal and accounting fees incurred as part of the share registration process. These fees were initially recorded and reimbursed for a total of $<span id="xdx_902_ecustom--BusinessCombinationReimbursableAmount_c20220101__20221231__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_z0ngvA2Oe1Ee" title="Total fees reimbursed">594,152</span> during the year ended December 31, 2022. Upon further analysis by both parties, it was determined that only $<span id="xdx_904_ecustom--BusinessCombinationReimbursableAmountAfterFurthurAnalysisAsPerAgreement_c20220101__20221231__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_z8w3Ved6ptdb" title="Fees subject to reimbursement">470,329</span> of these fees were subject to reimbursement in accordance with the Merger Agreement. The initial overpayment of these fees, totaling $<span id="xdx_901_ecustom--BusinessCombinationOverpaymentAmountReceivable_iI_c20221231__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zI3u0jPISR1j" title="Total initial over payment fees">123,823</span>, has been included within the due from affiliate amount on the accompanying consolidated balance sheets as of December 31, 2022. During the year ended December 31, 2023, this overpayment was repaid in full and the corresponding due from affiliate amount was settled.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Willow Oak Asset Management, LLC</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Services Agreement with Arquitos</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company, through Willow Oak, was party to a service-based contract with Arquitos Investment Manager, LP, Arquitos Capital Management, LLC, Arquitos Epicus, LP, and Arquitos Capital Offshore Master, Ltd. (collectively “Arquitos”), which are managed by Steven Kiel, the Company’s director, and earned revenue for certain services provided to Arquitos. In exchange for these services, Steven Kiel, through Arquitos, was contracted to perform certain ongoing consulting services for the benefit of Willow Oak. In addition to the foregoing exchange of services, Willow Oak also earned an annual performance revenue fee share through its contract with Arquitos. As of December 31, 2022, this service contract and revenue fee share have expired. During the year ended December 31, 2022, the Company earned $<span id="xdx_907_eus-gaap--Revenues_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__us-gaap--RelatedPartyTransactionAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ArquitosMember_zO71zmXwweUb" title="Revenue from related parties">24,451</span> of revenue through this fund management services arrangement. <span id="xdx_90D_eus-gaap--Revenues_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--WillowOakAssetManagementLLCMember__us-gaap--RelatedPartyTransactionAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ArquitosMember_zIJFcAFB12md" title="Revenue from related parties">No</span> comparable activity exists for the year ended December 31, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> CBA shall pay an amount approximately equal to 50% of RiverPark Fund’s management fees (as set forth in RiverPark Fund’s prospectus) to RiverPark (the prior adviser) and Cohanzick (the prior sub-adviser) for a period of three years after closing, and pay an amount approximately equal to 20% of the RiverPark Fund’s management fees in the fourth and fifth years after closing as set forth in the RiverPark Agreement. 1300000 219972 0 <p id="xdx_895_eus-gaap--ScheduleOfRelatedPartyTransactionsTableTextBlock_zNWkiGPgujUg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zTyUIFo5qnv3" style="display: none">SUMMARY OF EXPENSES ALLOCATED TO RELATED PARTIES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Year Ended December 31,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">Cohanzick Management Expense Allocation</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Employee compensation and benefit expenses allocated</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--OperatingCostsAndExpenses_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--EmployeeCompensationAndBenefitExpensesAllocatedMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zSQEaTVY4fh3" style="width: 16%; text-align: right" title="Total allocated expenses"><span style="-sec-ix-hidden: xdx2ixbrl0925">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--OperatingCostsAndExpenses_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--EmployeeCompensationAndBenefitExpensesAllocatedMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zgEu6Mv2jyKh" style="width: 16%; text-align: right" title="Total allocated expenses">284,850</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Owner compensation and benefit expenses allocated</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--OperatingCostsAndExpenses_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--OwnerCompensationAndBenefitExpensesAllocatedMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_z5cirmGDiQT" style="text-align: right" title="Total allocated expenses"><span style="-sec-ix-hidden: xdx2ixbrl0929">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--OperatingCostsAndExpenses_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--OwnerCompensationAndBenefitExpensesAllocatedMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zTW8tlBMXdyg" style="text-align: right" title="Total allocated expenses">612,387</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Other allocated expenses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--OperatingCostsAndExpenses_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--OtherAllocatedExpensesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zEs22VLqI9x5" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total allocated expenses">    <span style="-sec-ix-hidden: xdx2ixbrl0933">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--OperatingCostsAndExpenses_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionAxis__custom--OtherAllocatedExpensesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zlgrW9WKLIy1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total allocated expenses">269,830</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total allocated expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--OperatingCostsAndExpenses_c20230101__20231231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zsyHhSbVRlsd" style="border-bottom: Black 2.5pt double; text-align: right" title="Total allocated expenses"><span style="-sec-ix-hidden: xdx2ixbrl0937">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--OperatingCostsAndExpenses_c20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohanzickMember_zksIz9qZZFD" style="border-bottom: Black 2.5pt double; text-align: right" title="Total allocated expenses">1,167,067</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 284850 612387 269830 1167067 0 3646038 0.0005 205074 61791 503467 246743 109659 160330 68755 25533 780000000 10000000 594152 470329 123823 24451 <p id="xdx_806_eus-gaap--BusinessCombinationDisclosureTextBlock_z9CLMgceo6Og" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 4. <span id="xdx_823_zvKBqBXzAR4c">MERGER AND BUSINESS COMBINATION WITH CROSSINGBRIDGE ADVISORS, LLC AND ENTERPRISE DIVERSIFIED, IN</span>C.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Overview</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As discussed in Note 1, on December 29, 2021, ENDI entered into the Merger Agreement with Enterprise Diversified, Zelda Merger Sub 1, Inc., a Delaware corporation (“First Merger Sub”), Zelda Merger Sub 2, LLC, a Delaware limited liability company (“Second Merger Sub”), CrossingBridge and Cohanzick.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the terms of the Merger Agreement, Enterprise Diversified merged with First Merger Sub, a wholly-owned subsidiary of the Company, with Enterprise Diversified being the surviving entity, and CrossingBridge merged with Second Merger Sub, a wholly-owned subsidiary of the Company, with CrossingBridge being the surviving entity. In connection with the Mergers, each share of common stock of Enterprise Diversified was converted into the right to receive one share of Class A common stock, par value $<span id="xdx_90E_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20220811__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z5OO3p8DIHvk" title="Common stock, par value">0.0001</span> per share, of the Company (the “Class A Common Shares” or the “Class A Common Stock”), and Cohanzick, as the sole member of CrossingBridge, received<span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20220811__20220811__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember__srt--CounterpartyNameAxis__custom--CohanzickMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z3wIaBXl014j" title="Stock issued during period, shares, acquisitions"> 2,400,000</span> Class A Common Shares and <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20220811__20220811__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember__srt--CounterpartyNameAxis__custom--CohanzickMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zP1KtFuSqGj8" title="Stock issued during period, shares, acquisitions">1,800,000 </span>shares of Class B common stock, par value $<span id="xdx_901_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20220811__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember__srt--CounterpartyNameAxis__custom--CohanzickMember_zvRnfNLyIXy" title="Common stock, par value">0.0001 </span>per share, of the Company (the “Class B Common Shares” or the “Class B Common Stock”, and together with the Class A Common Shares, the “Common Shares”), a Class W-1 Warrant to purchase <span id="xdx_904_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20220811__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--ClassW1WarrantMember__srt--CounterpartyNameAxis__custom--CohanzickMember_zccdS5BSPr3d" title="Warrants to purchase">1,800,000</span> Class A Common Shares (“Class W-1 Warrant” or “W-1 Warrant”) and a Class W-2 Warrant to purchase <span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20220811__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--ClassW2WarrantMember__srt--CounterpartyNameAxis__custom--CohanzickMember_zNddk1NVhRu9" title="Warrants to purchase">250,000</span> Class A Common Shares (“Class W-2 Warrant” or “W-2 Warrant”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Class A Common Shares and Class B Common Shares are identical other than the Class B Common Shares: (i) have the right to designate directors (as described below); (ii) shall not be entitled to participate in earnings, dividends or other distributions with respect to the Class A Common Shares; and (iii) shall not receive any assets of the Company in the event of a liquidation and (iv) shall be subject to redemption in certain circumstances. The Class W-1 Warrant and the Class W-2 Warrant issued to Cohanzick may be exercised in whole or in part at any time prior to the date that is <span id="xdx_902_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dc_c20220811__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--ClassW1WarrantMember__srt--CounterpartyNameAxis__custom--CohanzickMember_z7ZwakjCO4e6" title="Warrants term">five years</span> after the Closing Date, at an exercise price of $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20220811__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--ClassW1WarrantMember__srt--CounterpartyNameAxis__custom--CohanzickMember_z7arO4FKNTU1" title="Exercise price">8.00</span> per Class A Common Share, subject to certain adjustments. Each of the warrants may also be exercised on a “cashless” basis at any time at the election of the holder and if not fully exercised prior to the expiration date of the warrant, shall be automatically exercised on a “cashless” basis. In addition, pursuant to the terms of a Securities Purchase Agreement dated as of August 18, 2022, certain designees of Cohanzick and certain officers, directors and employees of Enterprise Diversified purchased an aggregate of<span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220818__20220818__srt--CounterpartyNameAxis__custom--CohanzickEnterpriseDiversifiedOfficersAndDirectorsMember_zImGAm6BZoA5" title="Stock issued during period shares new issues"> 405,000</span> Class A Common Shares at a price of $<span id="xdx_905_eus-gaap--SharesIssuedPricePerShare_iI_c20220818__srt--CounterpartyNameAxis__custom--CohanzickEnterpriseDiversifiedOfficersAndDirectorsMember_zmls53o2HVgj" title="Shares issued, price per share">5.369</span> per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Merger Agreement, Enterprise Diversified agreed to reimburse Cohanzick certain fees and expenses, which amount to $<span id="xdx_903_eus-gaap--BusinessCombinationAcquisitionRelatedCosts_c20220811__20220811__srt--CounterpartyNameAxis__custom--CohanzickMember__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember_z9FbTfaetSs" title="Business combination, acquisition related costs">470,329</span>. These fees were reimbursed during the year ended December 31, 2022 and were reported on the consolidated statements of operations as transaction expenses for the year ended December 31, 2022. On the Closing Date, the Company also entered into a registration rights agreement, (as amended, the “Registration Rights Agreement” or “RRA”), with certain stockholders that are deemed to be affiliates of ENDI immediately following the closing of the Mergers, pursuant to which such stockholders’ Class A Common Shares, including the Class A Common Shares underlying any warrants issued in connection with the Mergers, will be registered for resale on a registration statement to be filed by the Company with the SEC under the Securities Act of 1933, as amended. On January 12, 2024, the Company entered into an amendment to the RRA that indefinitely defers the Company’s obligation to file a shelf registration statement relating to the resale of such securities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The holders of the Class B Common Stock, voting together as a single class, have the right to designate a number of directors of the Company’s board of directors (rounded up to the nearest whole number) equal to the percentage of the Company’s Common Shares beneficially owned by the holders of Class B Common Stock and their affiliates at the time of such designation, <i>provided however,</i> that for purposes of this designation right, the holders of the Company’s Class B Common Stock, voting together as a single class, shall have the right to designate not more than a majority of the members of the Company’s board of directors then in office, and, <i>provided further</i> that so long as holders of Class B Common Stock and their affiliates beneficially own at least <span id="xdx_902_ecustom--CommonStockDirectorDesignationMinimumBeneficialOwnership_iI_pid_dp_uPure_c20220811__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zfJ0JFG16qm7" title="Percentage of total outstanding common shares">5.0</span>% of the total outstanding Common Shares of the Company, holders of Class B Common Stock, voting together as a single class, shall have the right to designate at least <span id="xdx_90A_ecustom--CommonStockNumberOfDirectorsToDesignate_iI_dc_uinteger_c20220811__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zWx6430Zxn49" title="Common stock number of directors to designate">one</span> director. Any director elected to the Company’s board of directors pursuant to the above provisions of the Company’s Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”) will be referred to as a “Class B Director” and may only be removed by the holders of a majority of the Class B Common Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On the Closing Date, the Company also entered into a stockholder agreement (the “Stockholder Agreement”) with Cohanzick pursuant to which, from and after the date that the holders of Class B Common Shares are no longer entitled to elect at least one director to the Company’s board of directors pursuant to the Certificate of Incorporation as described above, the following provisions apply: so long as David Sherman, Cohanzick and any of their successors or assigns (collectively, the “Principal Stockholder”) and their Affiliates (as defined in the Stockholder Agreement) beneficially own at least <span id="xdx_90B_ecustom--CommonStockDirectorDesignationMinimumBeneficialOwnership_iI_pid_dp_uPure_c20220811__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zWmbXbuRnRZa" title="Common stock director designation minimum beneficial ownership">5</span>% of the Company’s outstanding Common Shares, the Principal Stockholder has the right to designate a number of the Company’s directors of the Company’s board of directors (rounded up to the nearest whole number) equal to the percentage of the Company’s Common Shares beneficially owned by the Principal Stockholder and its Affiliates at the time of such designation, <i>provided however</i> that for purposes of this designation right, the Principal Stockholder and its Affiliates shall have the right to designate not more than a majority of the members of the Company’s board of directors then in office and, <i>provided further,</i> that so long as the Principal Stockholder and its Affiliates beneficially owns at least <span id="xdx_909_ecustom--CommonStockDirectorDesignationMinimumBeneficialOwnership_iI_pid_dp_uPure_c20220811__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z6vpxgEQNx01" title="Common stock director designation minimum beneficial ownership">5</span>% of the total outstanding Common Shares of the Company, the Principal Stockholder shall have the right to designate at least <span id="xdx_902_ecustom--CommonStockNumberOfDirectorsToDesignate_iI_dc_uinteger_c20220811__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember_zFgDK47Onp7c" title="Common stock number of directors to designate">one</span> director.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On the Closing Date, the Company also entered into a voting agreement (the “Voting Agreement”) with Cohanzick and Steven Kiel and Arquitos Capital Offshore Master, Ltd., in their capacity as the voting party (the “Voting Party”), pursuant to which the Voting Party shall vote all of its securities of the Company entitled to vote in the election of the Company’s directors that such Voting Party or its affiliates own (collectively, the “Voting Shares”) to elect or maintain in office the directors designated by Cohanzick (the “Cohanzick Member Designees”). The Voting Agreement will terminate automatically on the earlier of the date that (i) the holders of the Company’s Class B Common Stock or Cohanzick’s right to designate the Cohanzick Member Designees is terminated or expires for any reason, (ii) Steven Kiel is no longer a member of the Company’s board of directors and (iii) the Voting Party and its affiliates cease to hold any Voting Shares. The Voting Agreement will also terminate automatically with respect to any Voting Shares no longer held by the Voting Party or its affiliates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Business Combination is accounted for as a reverse acquisition using the acquisition method of accounting in accordance with ASC 805, Business Combinations, with CrossingBridge representing the accounting acquiror. Because the Merger qualifies as a reverse acquisition and, given that CrossingBridge was a private company at the time of the Merger and therefore its value was not readily determinable, the fair value of the Merger consideration was deemed to be equal to the fair value of Enterprise Diversified at the Closing Date. As part of the purchase price allocation, the Company engaged an independent third-party valuation consultant. In determining the total consideration for the ASC 805 analysis, the valuation consultant utilized the volume weighted average price of Enterprise Diversified’s stock from the Merger announcement date, December 30, 2021, through the Closing Date. In doing so, the valuation consultant considered that the Company’s stock was very thinly traded and the public float was only approximately <span id="xdx_903_ecustom--BusinessCombinationPercentOfStockFloat_iI_pid_dp_uPure_c20220811__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember_zeWNpKvAJ28a" title="Business combination, percent of stock float">18.0</span>% of total shares. The consultant also noted the book value of equity was approximately $<span id="xdx_90B_eus-gaap--BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable_pn5n6_c20220811__20220811__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember_zKjiXZct1sna" title="Book value of equity">15.1</span> million, and composed primarily of short-term assets and liabilities, while the market capitalization as of the Closing Date was approximately $<span id="xdx_901_ecustom--BusinessCombinationMarketCapOfBusinessAcquired_iI_pn5n6_c20220811__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember_zFplAxgNT5n9" title="Business combination, market cap of business acquired">14.5</span> million based on the closing price of $<span id="xdx_904_eus-gaap--SharePrice_iI_pid_c20220811__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember_zPAb3xX1l76" title="Share price">5.49</span>. As a result of these considerations, the valuation consultant determined that the purchase consideration was estimated to be $<span id="xdx_90B_eus-gaap--BusinessCombinationConsiderationTransferred1_c20220811__20220811__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember_zwt3KQQ6KD67" title="Estimated purchase consideration">18,637,576</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 8pt; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Purchase Price Allocation</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_zQ67CoOX4Zk6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the fair values of assets acquired and liabilities assumed as of the Closing Date:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_zldS5gF0HaS2" style="display: none">SUMMARY OF FAIR VALUES OF ASSETS ACQUIRED AND LIABILITIES ASSUMED</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%">Cash</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_c20220811_zxfSHr8RDb7d" style="width: 12%; text-align: right" title="Cash">15,873,598</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts receivable, net</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_iI_c20220811_zUVkwwNzgd6k" style="text-align: right" title="Accounts receivable,net">35,027</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Note receivable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsNoteReceivables_iI_c20220811_zdDNs2nSUxb2" style="text-align: right" title="Note receivable">50,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_iI_c20220811_zCNlHZpX4dE" style="text-align: right" title="Prepaid expenses">51,933</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other current assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther_iI_c20220811_z7ePC0cXvysk" style="text-align: right" title="Other current assets">119,785</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fixed assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_c20220811_zzyFRKg5Dq8j" style="text-align: right" title="Fixed assets">3,431</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Goodwill</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--Goodwill_iI_c20220811_zMhuC62JHH5a" style="text-align: right" title="Goodwill">737,869</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Intangible assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_c20220811_z6qzgiq6nQWd" style="text-align: right" title="Intangible assets">1,255,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets, net</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets_iI_c20220811_zR7UuPLIzZE" style="text-align: right" title="Deferred tax assets,net">1,249,556</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iNI_di_c20220811_zgm2kQs6WbU3" style="text-align: right" title="Accounts payable">(20,506</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccruedExpenses_iNI_di_c20220811_zw2dEbRFt7mi" style="text-align: right" title="Accrued expenses">(513,922</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred revenue</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue_iNI_di_c20220811_zcm0nHZ9xzs9" style="text-align: right" title="Deferred revenue">(203,547</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Other current liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_di_c20220811_zPqedpW1prS3" style="border-bottom: Black 1.5pt solid; text-align: right" title="Other current liabilities">(648</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total consideration</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_c20220811_zUGfl4NmP01a" style="border-bottom: Black 2.5pt double; text-align: right" title="Total consideration">18,637,576</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A0_zEJXeMGfbr46" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The excess of purchase consideration over the fair value of net tangible and intangible assets acquired was recorded as goodwill, which is primarily attributed to the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized including expected synergies and the assembled workforce in place. The fair values assigned to tangible and intangible assets acquired and liabilities assumed were based on management’s estimates and assumptions and were subject to change as additional information was received. The primary areas where provisional amounts were used related to the fair values of intangible assets acquired, certain tangible assets and liabilities acquired, note receivable, deferred income tax assets and liabilities, and residual goodwill.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the Post-Merger period, the Company recorded three measurement period adjustments to the preliminary recorded values assigned to certain Company assets acquired as of the Closing Date. The fair value assigned to the Company’s note receivable was reduced from $<span id="xdx_90B_eus-gaap--NotesReceivableFairValueDisclosure_iI_c20220811_zEWPDVErHhqd" title="Note receivable fair value">300,000</span> to $<span id="xdx_902_eus-gaap--NotesReceivableFairValueDisclosure_iI_c20221231_z6lCU2o6m1W8" title="Note receivable fair value">50,000</span>, the fair value assigned to the Company’s domain names was reduced from $<span id="xdx_909_eus-gaap--IndefiniteLivedIntangibleAssetsExcludingGoodwillFairValueDisclosure_iI_c20220811__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InternetDomainNamesMember_zMv8YpgUgkge" title="Fair value asssigned to domain names">235,000</span> to $<span id="xdx_90E_eus-gaap--IndefiniteLivedIntangibleAssetsExcludingGoodwillFairValueDisclosure_iI_c20221231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InternetDomainNamesMember_zwM4Q0ugHtEl" title="Fair value asssigned to domain names">175,000</span>, and the fair value assigned to the Company’s net deferred tax assets was increased from $<span id="xdx_900_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_c20220811_zmdAaXbobqnl" title="Fair value asssigned to net deferred tax assets">0</span> to $<span id="xdx_90B_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_c20221231_z4t2DKquyDz3" title="Fair value asssigned to net deferred tax assets">1,249,556</span>. The net changes in fair value, totaling an increase of $<span id="xdx_901_eus-gaap--GoodwillPeriodIncreaseDecrease_c20220101__20221231_z2i38tpv4w2h" title="Net change in fair value of goodwill">939,556</span>, proportionally decreased the balance of residual goodwill from $<span id="xdx_90F_eus-gaap--GoodwillFairValueDisclosure_iI_c20220811_zcz7gMihd0c8" title="Goodwill value">1,677,425</span> to $<span id="xdx_90F_eus-gaap--GoodwillFairValueDisclosure_iI_c20221231_zLIr6Hn4POy6" title="Goodwill value">737,869</span> as of December 31, 2022. These adjustments were the product of expanded valuation analyses performed by management and were incorporated within the values noted in the table above. As of June 30, 2023, the Company considered the fair values of assets acquired and liabilities assumed to be final and no longer subject to potential adjustments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has assigned the residual goodwill based on an internal analysis that compared the anticipated future economic benefit to be generated by each operating segment with the Post-Merger carrying value of the respective operating segment. By way of this analysis, management allocated the balance of the residual goodwill to the CrossingBridge operations segment as of December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTextBlock_zRQwGEjrebH7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the Closing Date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zH8shK31vH99" style="display: none">SCHEDULE OF COMPONENTS OF IDENTIFIABLE INTANGIBLE ASSETS ACQUIRED AND ESTIMATED USEFUL LIVES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">Intangible Assets</td><td style="text-align: center; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Estimated</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></p></td><td style="text-align: center; padding-bottom: 1.5pt; vertical-align: bottom"> </td><td style="text-align: center; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Estimated</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Useful Life</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(in Years)</b></span></p></td><td style="text-align: center; padding-bottom: 1.5pt; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Customer relationships - Sitestar.net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--FinitelivedIntangibleAssetsAcquired1_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--CustomerRelationshipsSitestarnetMember_zeB5Uvg7Mi57" style="width: 16%; text-align: right" title="Estimated fair value">490,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--CustomerRelationshipsSitestarnetMember_zni7wyYYiodc" style="width: 16%; text-align: right" title="Estimated useful life">14</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Customer relationships - Willow Oak</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--FinitelivedIntangibleAssetsAcquired1_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--CustomerRelationshipsWillowOakMember_zyndky4rDkie" style="text-align: right" title="Estimated fair value">510,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--CustomerRelationshipsWillowOakMember_zW6kreZpP0Jj" style="text-align: right" title="Estimated useful life">14</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Trade Name - Sitestar.net</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--FinitelivedIntangibleAssetsAcquired1_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TradeNameSitestarnetMember_zZN6lpwEzX7c" style="text-align: right" title="Estimated fair value">40,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TradeNameSitestarnetMember_z05fh37zPnfd" style="text-align: right" title="Estimated useful life">7</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Trade Name - Willow Oak</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--FinitelivedIntangibleAssetsAcquired1_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TradeNameWillowOakMember_zxmW3OwfEmQj" style="text-align: right" title="Estimated fair value">40,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TradeNameWillowOakMember_zDlPq4zMExY3" style="text-align: right" title="Estimated useful life">7</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Internet Domains - Sitestar.net</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--FinitelivedIntangibleAssetsAcquired1_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternetDomainsSitestarnetMember_zDRKQMAdIrpl" style="text-align: right" title="Estimated fair value">175,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_ecustom--DescriptionOfAcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternetDomainsSitestarnetMember_z74pXE7HLMWj" title="Description of estimated useful life">Indefinite</span> </span></td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A2_zbqt3MO4VUCl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The estimated fair values of (i) the customer relationships were determined using the multi-period excess earnings method, (ii) the trade names were determined using the relief from royalty income approach, and (iii) the internet domain names were estimated using a market approach. The approaches used to estimate the fair values use significant unobservable inputs including revenue and cash flow forecasts, customer attrition rates, and appropriate discount rates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 8pt; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Unaudited Pro Forma Information</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The unaudited pro forma financial information presented below summarizes the combined results of operations for the Company as though the Merger was completed on January 1, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The unaudited pro forma financial information for all periods presented includes, among other items, amortization charges from acquired intangible assets, retention and other compensation expenses accounted for separately from the purchase accounting, and the related tax effects, but excludes the impacts of any expected operational synergies. The unaudited pro forma financial information as presented below is for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved had the Merger actually been completed on January 1, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The unaudited pro forma financial information for the year ended December 31, 2022 combines the historical results of the Company for those periods, the historical results of Enterprise Diversified for the periods prior to the Closing Date, and the effects of the pro forma adjustments discussed above. The unaudited pro forma financial information is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--BusinessAcquisitionProFormaInformationTextBlock_zDZJ09zaAEui" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zROEeGABp846" style="display: none">SCHEDULE OF PRO FORMA FINANCIAL INFORMATION</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49E_20220101__20221231_zy5eqWlBVSMe" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">For the year</p> <p style="margin-top: 0; margin-bottom: 0">ended</p> <p style="margin-top: 0; margin-bottom: 0">December 31, 2022</p></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td></tr> <tr id="xdx_40C_eus-gaap--BusinessAcquisitionsProFormaRevenue_z5JSe8sjL42l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">8,264,005</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--BusinessAcquisitionsProFormaNetIncomeLoss_z6vqtVMLJjA6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,656,707</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--BusinessAcquisitionProFormaEarningsPerShareBasic_zGDsJIOoyD1l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Net income per share</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">0.46</td><td style="font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8AD_zWjBHqzT0lSc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenues from the Business Combination recognized by the Company from the Closing Date to December 31, 2022 totaled $<span id="xdx_902_eus-gaap--BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual_c20220101__20221231_z0mDvXiW2hte" title="Business combination">367,179</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0.0001 2400000 1800000 0.0001 1800000 250000 P5Y 8.00 405000 5.369 470329 0.050 1 0.05 0.05 1 0.180 15100000 14500000 5.49 18637576 <p id="xdx_89A_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_zQ67CoOX4Zk6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the fair values of assets acquired and liabilities assumed as of the Closing Date:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_zldS5gF0HaS2" style="display: none">SUMMARY OF FAIR VALUES OF ASSETS ACQUIRED AND LIABILITIES ASSUMED</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%">Cash</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_c20220811_zxfSHr8RDb7d" style="width: 12%; text-align: right" title="Cash">15,873,598</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts receivable, net</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_iI_c20220811_zUVkwwNzgd6k" style="text-align: right" title="Accounts receivable,net">35,027</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Note receivable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsNoteReceivables_iI_c20220811_zdDNs2nSUxb2" style="text-align: right" title="Note receivable">50,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_iI_c20220811_zCNlHZpX4dE" style="text-align: right" title="Prepaid expenses">51,933</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other current assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther_iI_c20220811_z7ePC0cXvysk" style="text-align: right" title="Other current assets">119,785</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fixed assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_c20220811_zzyFRKg5Dq8j" style="text-align: right" title="Fixed assets">3,431</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Goodwill</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--Goodwill_iI_c20220811_zMhuC62JHH5a" style="text-align: right" title="Goodwill">737,869</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Intangible assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_c20220811_z6qzgiq6nQWd" style="text-align: right" title="Intangible assets">1,255,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets, net</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets_iI_c20220811_zR7UuPLIzZE" style="text-align: right" title="Deferred tax assets,net">1,249,556</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iNI_di_c20220811_zgm2kQs6WbU3" style="text-align: right" title="Accounts payable">(20,506</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccruedExpenses_iNI_di_c20220811_zw2dEbRFt7mi" style="text-align: right" title="Accrued expenses">(513,922</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred revenue</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue_iNI_di_c20220811_zcm0nHZ9xzs9" style="text-align: right" title="Deferred revenue">(203,547</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Other current liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_di_c20220811_zPqedpW1prS3" style="border-bottom: Black 1.5pt solid; text-align: right" title="Other current liabilities">(648</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total consideration</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_c20220811_zUGfl4NmP01a" style="border-bottom: Black 2.5pt double; text-align: right" title="Total consideration">18,637,576</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 15873598 35027 50000 51933 119785 3431 737869 1255000 1249556 20506 513922 203547 648 18637576 300000 50000 235000 175000 0 1249556 939556 1677425 737869 <p id="xdx_89C_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTextBlock_zRQwGEjrebH7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the Closing Date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zH8shK31vH99" style="display: none">SCHEDULE OF COMPONENTS OF IDENTIFIABLE INTANGIBLE ASSETS ACQUIRED AND ESTIMATED USEFUL LIVES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">Intangible Assets</td><td style="text-align: center; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Estimated</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></p></td><td style="text-align: center; padding-bottom: 1.5pt; vertical-align: bottom"> </td><td style="text-align: center; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Estimated</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Useful Life</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(in Years)</b></span></p></td><td style="text-align: center; padding-bottom: 1.5pt; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Customer relationships - Sitestar.net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--FinitelivedIntangibleAssetsAcquired1_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--CustomerRelationshipsSitestarnetMember_zeB5Uvg7Mi57" style="width: 16%; text-align: right" title="Estimated fair value">490,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--CustomerRelationshipsSitestarnetMember_zni7wyYYiodc" style="width: 16%; text-align: right" title="Estimated useful life">14</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Customer relationships - Willow Oak</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--FinitelivedIntangibleAssetsAcquired1_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--CustomerRelationshipsWillowOakMember_zyndky4rDkie" style="text-align: right" title="Estimated fair value">510,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--CustomerRelationshipsWillowOakMember_zW6kreZpP0Jj" style="text-align: right" title="Estimated useful life">14</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Trade Name - Sitestar.net</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--FinitelivedIntangibleAssetsAcquired1_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TradeNameSitestarnetMember_zZN6lpwEzX7c" style="text-align: right" title="Estimated fair value">40,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TradeNameSitestarnetMember_z05fh37zPnfd" style="text-align: right" title="Estimated useful life">7</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Trade Name - Willow Oak</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--FinitelivedIntangibleAssetsAcquired1_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TradeNameWillowOakMember_zxmW3OwfEmQj" style="text-align: right" title="Estimated fair value">40,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TradeNameWillowOakMember_zDlPq4zMExY3" style="text-align: right" title="Estimated useful life">7</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Internet Domains - Sitestar.net</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--FinitelivedIntangibleAssetsAcquired1_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternetDomainsSitestarnetMember_zDRKQMAdIrpl" style="text-align: right" title="Estimated fair value">175,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_ecustom--DescriptionOfAcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_c20220811__20220811__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternetDomainsSitestarnetMember_z74pXE7HLMWj" title="Description of estimated useful life">Indefinite</span> </span></td><td style="text-align: left"> </td></tr> </table> 490000 P14Y 510000 P14Y 40000 P7Y 40000 P7Y 175000 Indefinite <p id="xdx_89A_eus-gaap--BusinessAcquisitionProFormaInformationTextBlock_zDZJ09zaAEui" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zROEeGABp846" style="display: none">SCHEDULE OF PRO FORMA FINANCIAL INFORMATION</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49E_20220101__20221231_zy5eqWlBVSMe" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">For the year</p> <p style="margin-top: 0; margin-bottom: 0">ended</p> <p style="margin-top: 0; margin-bottom: 0">December 31, 2022</p></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td></tr> <tr id="xdx_40C_eus-gaap--BusinessAcquisitionsProFormaRevenue_z5JSe8sjL42l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">8,264,005</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--BusinessAcquisitionsProFormaNetIncomeLoss_z6vqtVMLJjA6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,656,707</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--BusinessAcquisitionProFormaEarningsPerShareBasic_zGDsJIOoyD1l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Net income per share</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">0.46</td><td style="font-weight: bold; text-align: left"> </td></tr> </table> 8264005 1656707 0.46 367179 <p id="xdx_804_eus-gaap--AssetAcquisitionTextBlock_z4oepOEBFPXk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 5. <span id="xdx_82E_zDaZ1lMkgtP8">RIVERPARK STRATEGIC INCOME FUND ASSET ACQUISITION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As discussed in Note 3, on November 18, 2022, CBA, entered into the RiverPark Agreement with RiverPark Advisors, LLC and Cohanzick pursuant to which RiverPark Advisors, LLC intended to sell to CBA certain assets and CBA intended to assume certain liabilities, including certain rights and responsibilities under the RiverPark Advisory Agreement (as defined herein) and the RiverPark Expense Limitation Agreement (as defined herein) relating to the provision of investment advisory services for the mutual fund known as the RiverPark Fund, subject to certain terms and conditions set forth in the agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 10, 2023, the board of trustees of the RiverPark Fund and holders of a majority of the outstanding voting securities of RiverPark Fund approved the RiverPark Agreement and the transactions contemplated thereby. On May 12, 2023 (the “Closing Date”), as contemplated by the RiverPark Agreement, CBA assumed (i) the advisory services role under that certain Amended and Restated Investment Advisory Agreement (the “RiverPark Advisory Agreement”) dated February 14, 2012 by and between RiverPark and RiverPark Funds Trust (“RiverPark Trust”) pursuant to which RiverPark provided investment advisory services to the RiverPark Fund and (ii) the Operating Expense Limitation Agreement (“RiverPark Expense Limitation Agreement”) dated as of July 1, 2019 by and between RiverPark and RiverPark Trust. Furthermore, pursuant to the RiverPark Agreement, on the Closing Date, the parties to that certain Sub-Advisory Agreement dated as of August 1, 2012 by and among RiverPark, Cohanzick and the RiverPark Trust, on behalf of the RiverPark Fund, have terminated such agreement and made CrossingBridge a party to the RiverPark Expense Limitation Agreement. Furthermore, in connection with the RiverPark Agreement, Cohanzick and CBA entered into an agreement which prohibits Cohanzick from competing with a substantially similar strategic income strategy as the RiverPark Fund as an adviser or sub-adviser to a fund registered under 1940 Act or any UCITS products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the RiverPark Agreement, no consideration was paid upon closing; however, <span id="xdx_907_ecustom--DescriptionOfAmountPayableAsPerAgreement_c20221118__20221118__us-gaap--TypeOfArrangementAxis__custom--RiverParkAgreementMember_zfiQnvVWU2g8" title="Description of amount payable as per agreement">CBA shall pay an amount approximately equal to 50% of RiverPark Fund’s management fees (as set forth in RiverPark Fund’s prospectus) to RiverPark (the prior adviser) and Cohanzick (the prior sub-adviser) for a period of three years after closing, and pay an amount approximately equal to 20% of the RiverPark Fund’s management fees in the fourth and fifth years after closing as set forth in the RiverPark Agreement.</span> Notwithstanding the foregoing, certain of the amounts payable based on the RiverPark Fund’s management fees pursuant to the RiverPark Agreement during the first three years after the closing shall be capped such that they are less than $<span id="xdx_901_ecustom--AggregateAmountPayableBasedOnFundManagementFees_iI_pn5n6_c20221118__us-gaap--TypeOfArrangementAxis__custom--RiverParkAgreementMember_zu3W1xhrR4Ek" title="Aggregate amount payable based on fund management fees">1.3</span> million in the aggregate. This liability is reported on the Company’s consolidated balance sheets under earn-out liability.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The RiverPark Fund transaction is classified as an asset acquisition, and the costs of the acquisition were allocated to the assets acquired on the basis of their relative fair values. Assets acquired primarily consisted of customer relationships, investment contracts, and a noncompete agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By applying the guidance in ASC 323-10-25-2A and ASC 323-10-25-2B to an asset acquisition, as the fair value of the group of assets exceeds the initial consideration, the consideration is recorded as the lesser of the maximum amount of contingent consideration or the excess of the fair value of the net assets acquired over the initial consideration paid. As the initial consideration of the transaction was $<span id="xdx_909_eus-gaap--BusinessCombinationConsiderationTransferred1_c20221118__20221118__us-gaap--BusinessAcquisitionAxis__custom--RiverparkStrategicIncomeFundAssetAcquisitionMember_z5s0zV2dC0r9" title="Initial consideration of transaction">0</span> and there is no maximum amount to the contingent consideration, the latter scenario is applied. The purchase price of $<span id="xdx_90D_eus-gaap--AssetAcquisitionConsiderationTransferred_c20221118__20221118__us-gaap--AssetAcquisitionAxis__custom--RiverparkStrategicIncomeFundAssetAcquisitionMember_ziy6OqeZgOD5" title="Total purchase price">2,341,600</span> consisted of a combination of $<span id="xdx_902_eus-gaap--PaymentsToAcquireProductiveAssets_c20221118__20221118__us-gaap--AssetAcquisitionAxis__custom--RiverparkStrategicIncomeFundAssetAcquisitionMember_zmgOwKhLvZMd" title="Variable cash payments">2,141,612</span> in variable cash payments and $<span id="xdx_907_eus-gaap--AssetAcquisitionConsiderationTransferredTransactionCost_c20221118__20221118__us-gaap--AssetAcquisitionAxis__custom--RiverparkStrategicIncomeFundAssetAcquisitionMember_zlrPmREehw0a" title="Transaction costs">199,988</span> of acquisition costs incurred by the Company in connection with the transaction. Variable cash payments are based on a percentage of the RiverPark Fund net advisory fees earned and daily average assets under management of the fund. Payments are to be made monthly over the next five years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--AssetAcquisitionTableTextBlock_zbKuXlcVktmk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The acquisition-date fair value of the consideration transferred and the allocation of cost to the assets acquired and liabilities assumed at the acquisition date are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_zvJWR9wrD8X2" style="display: none">SCHEDULE OF CONSIDERATION TRANSFERRED AND ASSETS ACQUIRED AND LIABILITIES ASSUMED</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%; text-align: left">Acquisition-date fair value of variable cash payments</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--PaymentsToAcquireProductiveAssets_c20221118__20221118__us-gaap--AssetAcquisitionAxis__custom--RiverparkStrategicIncomeFundAssetAcquisitionMember_zpEkL4aIabr1" style="width: 12%; text-align: right" title="Variable cash payments">2,141,612</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Transaction costs</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--AssetAcquisitionConsiderationTransferredTransactionCost_c20221118__20221118__us-gaap--AssetAcquisitionAxis__custom--RiverparkStrategicIncomeFundAssetAcquisitionMember_z4pF8EBNbYch" style="border-bottom: Black 1.5pt solid; text-align: right" title="Transaction costs">199,988</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 2.5pt">Total purchase price</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--AssetAcquisitionConsiderationTransferred_c20221118__20221118__us-gaap--AssetAcquisitionAxis__custom--RiverparkStrategicIncomeFundAssetAcquisitionMember_zWn7kJlY6Yrf" style="border-bottom: Black 2.5pt double; text-align: right" title="Total purchase price">2,341,600</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Allocation of cost to assets acquired:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Customer relationships</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_ecustom--AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_c20221118__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember__us-gaap--AssetAcquisitionAxis__custom--RiverparkStrategicIncomeFundAssetAcquisitionMember_zl50CZlajCWl" style="text-align: right" title="Customer relationships">2,294,768</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Investment management agreements</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_c20221118__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InvestmentManagementAgreementsMember__us-gaap--AssetAcquisitionAxis__custom--RiverparkStrategicIncomeFundAssetAcquisitionMember_zCE1RZU1JrK7" style="text-align: right" title="Assets acquired,intangible assets">23,416</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Noncompete agreement</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_ecustom--AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_c20221118__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--NoncompeteAgreementsMember__us-gaap--AssetAcquisitionAxis__custom--RiverparkStrategicIncomeFundAssetAcquisitionMember_zEBPnHxzg3T4" style="border-bottom: Black 1.5pt solid; text-align: right" title="Customer relationships">23,416</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 2.5pt">Total cost of assets acquired</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_ecustom--AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iI_c20221118__us-gaap--AssetAcquisitionAxis__custom--RiverparkStrategicIncomeFundAssetAcquisitionMember_z77UoDkJ7uG5" style="border-bottom: Black 2.5pt double; text-align: right" title="Total cost of assets acquired">2,341,600</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AE_z8czzjcjuJXe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> CBA shall pay an amount approximately equal to 50% of RiverPark Fund’s management fees (as set forth in RiverPark Fund’s prospectus) to RiverPark (the prior adviser) and Cohanzick (the prior sub-adviser) for a period of three years after closing, and pay an amount approximately equal to 20% of the RiverPark Fund’s management fees in the fourth and fifth years after closing as set forth in the RiverPark Agreement. 1300000 0 2341600 2141612 199988 <p id="xdx_89E_eus-gaap--AssetAcquisitionTableTextBlock_zbKuXlcVktmk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The acquisition-date fair value of the consideration transferred and the allocation of cost to the assets acquired and liabilities assumed at the acquisition date are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_zvJWR9wrD8X2" style="display: none">SCHEDULE OF CONSIDERATION TRANSFERRED AND ASSETS ACQUIRED AND LIABILITIES ASSUMED</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%; text-align: left">Acquisition-date fair value of variable cash payments</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--PaymentsToAcquireProductiveAssets_c20221118__20221118__us-gaap--AssetAcquisitionAxis__custom--RiverparkStrategicIncomeFundAssetAcquisitionMember_zpEkL4aIabr1" style="width: 12%; text-align: right" title="Variable cash payments">2,141,612</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Transaction costs</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--AssetAcquisitionConsiderationTransferredTransactionCost_c20221118__20221118__us-gaap--AssetAcquisitionAxis__custom--RiverparkStrategicIncomeFundAssetAcquisitionMember_z4pF8EBNbYch" style="border-bottom: Black 1.5pt solid; text-align: right" title="Transaction costs">199,988</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 2.5pt">Total purchase price</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--AssetAcquisitionConsiderationTransferred_c20221118__20221118__us-gaap--AssetAcquisitionAxis__custom--RiverparkStrategicIncomeFundAssetAcquisitionMember_zWn7kJlY6Yrf" style="border-bottom: Black 2.5pt double; text-align: right" title="Total purchase price">2,341,600</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Allocation of cost to assets acquired:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Customer relationships</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_ecustom--AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_c20221118__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember__us-gaap--AssetAcquisitionAxis__custom--RiverparkStrategicIncomeFundAssetAcquisitionMember_zl50CZlajCWl" style="text-align: right" title="Customer relationships">2,294,768</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Investment management agreements</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_c20221118__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InvestmentManagementAgreementsMember__us-gaap--AssetAcquisitionAxis__custom--RiverparkStrategicIncomeFundAssetAcquisitionMember_zCE1RZU1JrK7" style="text-align: right" title="Assets acquired,intangible assets">23,416</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Noncompete agreement</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_ecustom--AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_c20221118__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--NoncompeteAgreementsMember__us-gaap--AssetAcquisitionAxis__custom--RiverparkStrategicIncomeFundAssetAcquisitionMember_zEBPnHxzg3T4" style="border-bottom: Black 1.5pt solid; text-align: right" title="Customer relationships">23,416</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 2.5pt">Total cost of assets acquired</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_ecustom--AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iI_c20221118__us-gaap--AssetAcquisitionAxis__custom--RiverparkStrategicIncomeFundAssetAcquisitionMember_z77UoDkJ7uG5" style="border-bottom: Black 2.5pt double; text-align: right" title="Total cost of assets acquired">2,341,600</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 2141612 199988 2341600 2294768 23416 23416 2341600 <p id="xdx_809_eus-gaap--FairValueDisclosuresTextBlock_zXa44kRP8rq5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 6. <span id="xdx_820_zjOPuwl8Thil">FAIR VALUE OF ASSETS AND LIABILITIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GAAP defines fair value as the amount that would be received from the sale of an asset or paid for the transfer of a liability in an orderly transaction between market participants at the measurement date and establishes a hierarchy for disclosing assets and liabilities measured at fair value based on the inputs used to value them. The fair value hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs. Observable inputs are based on market pricing data obtained from sources independent of the Company. Unobservable inputs reflect management’s judgment about the assumptions market participants would use in pricing the asset or liability. The fair value hierarchy includes three levels based on the objectivity of the inputs as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level I - inputs are quoted prices in active markets as of the measurement date for identical assets and liabilities that the Company has the ability to access. This category includes exchange-traded mutual funds and equity securities;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level II - inputs are inputs other than quoted prices included in Level I that are observable for the asset or liability, either directly or indirectly. Level II inputs include quoted prices for similar assets and liabilities in active markets, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates or yield curves, that are observable at commonly quoted intervals; this category includes mortgage-backed securities, asset-backed securities, corporate debt securities, certificates of deposit, commercial paper, U.S. agency and municipal debt securities, U.S. Treasury securities, and derivative contracts; and</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level III - inputs are unobservable inputs for the asset or liability and include situations where there is little, if any, market activity for the asset or liability. The measurements are highly subjective.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The availability of observable inputs can vary and is affected by a variety of factors. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is the greatest for assets or liabilities categorized in Level III.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the investment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_zOahdnx4Vq56" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents information about the Company’s assets measured at fair value as of the years ended December 31, 2023 and December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zwZPWbuUdKa4" style="display: none">SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49E_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z0dKpuZR7g9g" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Level I</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" id="xdx_496_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z038uS1CgSub" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Level II</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" id="xdx_493_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zLAViUNKL3kh" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Level III</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"> </td> <td colspan="2" id="xdx_490_20231231_zfRWHj8YEy01" style="padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"><span id="xdx_F55_zPYSA9532Uz6" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td><td style="padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">December 31, 2023</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom"><p style="margin-top: 0; margin-bottom: 0">Quoted Prices</p> <p style="margin-top: 0; margin-bottom: 0">in Active</p> <p style="margin-top: 0; margin-bottom: 0">Markets for</p> <p style="margin-top: 0; margin-bottom: 0">Identical Assets</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom"><p style="margin-top: 0; margin-bottom: 0">Significant</p> <p style="margin-top: 0; margin-bottom: 0">Other</p> <p style="margin-top: 0; margin-bottom: 0">Observable</p> <p style="margin-top: 0; margin-bottom: 0">Inputs</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom"><p style="margin-top: 0; margin-bottom: 0">Significant</p> <p style="margin-top: 0; margin-bottom: 0">Unobservable</p> <p style="margin-top: 0; margin-bottom: 0">Inputs</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Excluded (a)</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr id="xdx_406_eus-gaap--EquitySecuritiesFvNiCurrentAndNoncurrent_iI_zsdY1xLT5pi6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Investments in securities, at fair value (cost $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgVkFMVUUgQVNTRVRTIEFORCBMSUFCSUxJVElFUyBNRUFTVVJFRCBPTiBSRUNVUlJJTkcgQkFTSVMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eus-gaap--EquitySecuritiesFvNiCost_iI_c20231231_zbhjcXEeQjy3" title="Equity securities Fv Ni cost">7,847,039</span>)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,715,075</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">         <span style="-sec-ix-hidden: xdx2ixbrl1136">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">  <span style="-sec-ix-hidden: xdx2ixbrl1137">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1138">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--InvestmentOwnedAtFairValue_iI_zkqKlzT0J0e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">W-1 Warrant and Class B Common Stock liability, at fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1142">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1143">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">464,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1145">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--InvestmentInLimitedPartnershipAtNetAssetValue_iI_zXwQJMzV59d2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Investment in limited partnership, at net asset value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1147">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1148">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1149">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">348,815</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--InvestmentInWarrants_iI_zDmvJRU9rKPl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Investment in warrants, at fair value (cost $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgVkFMVUUgQVNTRVRTIEFORCBMSUFCSUxJVElFUyBNRUFTVVJFRCBPTiBSRUNVUlJJTkcgQkFTSVMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_ecustom--FairValueAdjustmentOfWarrant_c20230101__20231231_z8yDPaaLpcre" title="Investment, cost">0</span>)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1152">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">      <span style="-sec-ix-hidden: xdx2ixbrl1153">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">62,400</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1155">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--InvestmentInWarrants_iI_zOl5ooyU5xCd" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Investment in warrants</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1159">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">      <span style="-sec-ix-hidden: xdx2ixbrl1160">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">62,400</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1162">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InvestmentsFairValueDisclosure_iI_zVFK6M85TE7i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,715,075</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1165">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">526,400</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">348,815</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_494_20221231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z4Mhpf3R0vqk" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Level I</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_499_20221231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zsU4DFu1Vdjh" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Level II</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_492_20221231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zGcWMmWGpMV" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Level III</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_493_20221231_zLBXP8qr3WS6" style="text-align: center; vertical-align: bottom"><span id="xdx_F55_zZnl1QasXCy4" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td><td style="text-align: center; padding-bottom: 1.5pt; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">December 31, 2022</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom"><p style="margin-top: 0; margin-bottom: 0">Quoted Prices</p> <p style="margin-top: 0; margin-bottom: 0">in Active</p> <p style="margin-top: 0; margin-bottom: 0">Markets for</p> <p style="margin-top: 0; margin-bottom: 0">Identical Assets</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom"><p style="margin-top: 0; margin-bottom: 0">Significant</p> <p style="margin-top: 0; margin-bottom: 0">Other</p> <p style="margin-top: 0; margin-bottom: 0">Observable</p> <p style="margin-top: 0; margin-bottom: 0">Inputs</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom"><p style="margin-top: 0; margin-bottom: 0">Significant</p> <p style="margin-top: 0; margin-bottom: 0">Unobservable</p> <p style="margin-top: 0; margin-bottom: 0">Inputs</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Excluded (a)</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr id="xdx_40D_eus-gaap--EquitySecuritiesFvNiCurrentAndNoncurrent_iI_zabCk60xMFyf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Investments in securities, at fair value (cost $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgVkFMVUUgQVNTRVRTIEFORCBMSUFCSUxJVElFUyBNRUFTVVJFRCBPTiBSRUNVUlJJTkcgQkFTSVMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eus-gaap--EquitySecuritiesFvNiCost_iI_c20221231_zJ2tptWE2lFb" title="Equity securities Fv Ni cost">5,802,395</span>)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">5,860,688</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">             <span style="-sec-ix-hidden: xdx2ixbrl1170">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1171">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">             <span style="-sec-ix-hidden: xdx2ixbrl1172">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--EquitySecuritiesFvNiCurrentAndNoncurrent_iI_zb8Ug42Q6VV2" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Investments in securities, at fair value</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,860,688</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">             <span style="-sec-ix-hidden: xdx2ixbrl1177">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1178">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">             <span style="-sec-ix-hidden: xdx2ixbrl1179">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--InvestmentOwnedAtFairValue_iI_zoIWt59NnhAc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">W-1 Warrant and Class B Common Stock liability, at fair value</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1181">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1182">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">576,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1184">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InvestmentsFairValueDisclosure_iI_zY07yGLYX9Ha" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,860,688</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1187">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">576,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1189">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F06_zC8gCRkcU3Oe" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F12_zcwBsD0SMJTe" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain investments that are measured at fair value using the NAV per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheets.</span></td></tr> </table> <p id="xdx_8A4_zxeX7ABvD7P9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Assets and Liabilities Measured at Fair Value on a Recurring Basis</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As discussed previously, through Enterprise Diversified, the Company holds Level I investments, among which include shares of CrossingBridge Ultra-Short Duration Fund, CrossingBridge Low Duration High Yield Fund, RiverPark Strategic Income Fund, and CrossingBridge Responsible Credit Fund, which are SEC registered mutual funds for which CBA is the adviser, as well as shares of CrossingBridge Pre-Merger SPAC ETF, which is an ETF also advised by CBA. As of December 31, 2023 and 2022, Level I investments held by the Company in investment products advised by CBA totaled $<span id="xdx_902_eus-gaap--Investments_iI_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--CbaMember_za9bEgvgPxXg">6,520,899</span> and $<span id="xdx_903_eus-gaap--Investments_iI_c20221231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--CbaMember_zI5iTuOqM5Zd">4,850,308</span>, respectively. The Company’s remaining Level I investments held as of December 31, 2023 and 2022 includes marketable U.S. fixed income and equity securities. There are no liquidity restrictions in connection with these investments held through Enterprise Diversified.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 8pt; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s investment in the commodity-based limited partnership is measured using NAV as the practical expedient and is exempt from the fair value hierarchy. The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and allocated based on total fund contributions. The Company’s investment in this limited partnership is remeasured to fair value on a recurring basis and realized and unrealized gains and losses are recognized as investment income in the period of adjustment. As of the year ended December 31, 2023, this investment is carried at its reported NAV of $<span id="xdx_90B_eus-gaap--FairValueNetAssetLiability_iI_c20231231_zpEOHx4VoaP3" title="Net asset value">348,815</span>. During the year ended December 31, 2023, we recognized $<span id="xdx_908_eus-gaap--LossOnSaleOfInvestments_c20230101__20231231_zk3N4MsTNdte" title="Investment loss">13,845</span> of net investment losses related to this investment. <span id="xdx_90D_eus-gaap--InvestmentIncomeNet_do_c20220101__20221231_zBYEXJ0ulOW8" title="Investment income net">No</span> comparable activity exists for the year ended December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Included as part of the Company’s July 14, 2023 private placement investment through Enterprise Diversified, the Company received <span id="xdx_904_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20230714__dei--LegalEntityAxis__custom--EnterpriseDiversifiedIncMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zoMdD6yeZ732" title="Number of warrants">100,000</span> warrants of the issuer’s public parent company. The warrants are not registered or freely tradable and were not transferrable until after December 15, 2023. Due to these restrictions, the Company did not assign a value to the warrants prior to December 15, 2023. As of December 31, 2023, the warrants are now transferrable, but are still unregistered and contain various other trading restrictions. In order to value these warrants as of December 31, 2023, the Company has applied a marketability discount to similar like-kind warrants of the same company that actively trade on the OTCQX tier of the OTC Market. The Company evaluated similar marketability discounts applied to other OTC traded companies to arrive at a 20% discount rate. By applying the <span id="xdx_90C_ecustom--DiscountRateForFreelyTradedWarrants_iI_c20231231_zy1kvKE1z2M5" title="Discount rate">20</span>% discount rate to the most recent closing price of the comparable freely traded warrants, the Company valued the <span id="xdx_903_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20230714__dei--LegalEntityAxis__custom--EnterpriseDiversifiedIncMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--StatementEquityComponentsAxis__custom--RestrictedPreferredSharesMember_zPfn8xnIlxJj" title="Number of warrants">100,000</span> warrants at $<span id="xdx_905_ecustom--InvestmentInWarrantsAtFairMarketValue_iI_c20231231_zeS4QnKcVff3" title="Investment in warrants">62,400</span> as of December 31, 2023 on the accompanying consolidated balance sheets. Due to the lack of observable inputs used in the Company’s calculation, the warrants have been classified as a Level III investment. The $<span id="xdx_900_eus-gaap--UnrealizedGainLossOnDerivatives_c20230101__20231231_zRpR2bsb1ijb" title="unrealized gain on derivatives">62,400</span> was also recognized as an unrealized gain for the year ended December 31, 2023 on the accompanying consolidated statement of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As discussed previously, pursuant to the Merger Agreement, the Company issued <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20230101__20231231__us-gaap--BusinessAcquisitionAxis__custom--MergerAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zvD07EjA2sEb" title="Shares acquisitions">1,800,000</span> Class B Common Shares that are mandatorily redeemable upon exercise of the W-1 Warrant. Management has determined that the W-1 Warrant represents an embedded equity-linked feature within the Class B Common Shares, and therefore is valued in conjunction with the Class B Common Shares as a long-term liability on the consolidated balance sheets. The value of the W-1 Warrant and Class B Common Shares is determined using a Black-Scholes pricing model, resulting in a Level III classification. The pricing model considers a variety of inputs at each measurement date including, but not exclusively, a 30-day VWAP of the Company’s closing stock price, the Company’s estimated equity volatility over the remaining warrant term, the warrant exercise price, the Company’s annual rate of dividends, the bond equivalent yield, and remaining term of the W-1 Warrant. Additionally, a discount is applied based on an analysis of the underlying marketability of the Company’s Class A Common Stock with respect to Rule 144 restrictions. This value is remeasured at each reporting date with the change in value flowing through the consolidated statements of operations for the relevant period. The table below represents the relevant inputs used in the value determination as of December 31, 2023 and change in value from the Closing Date to December 31, 2023.</span></p> <p id="xdx_899_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zF6mk7UQ9O82" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B8_znvZ3gG4cjX1" style="display: none">SCHEDULE OF FAIR VALUE LIABILITIES MEASURED ON RECURRING BASIS UNOBSERVABLE INPUT RECONCILIATION</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">W-1 Warrant and Class B Common Stock</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic">Inputs below are as of December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">ENDI Corp. 30-day VWAP closing stock price</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--W1WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zUKXVLLVXXSf" style="width: 16%; text-align: right" title="Measurement inputs">3.96</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Warrant exercise price</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--W1WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember_zkDa9qwNUkS2" style="text-align: right" title="Measurement inputs">8.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Estimated equity volatility over remaining term</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--W1WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zbYDEd4ZeeMh" style="text-align: right" title="Measurement inputs">32.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">ENDI Corp. annual rate of dividends</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--W1WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_z0DNAKLBzLpg" style="text-align: right" title="Measurement inputs">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Bond equivalent yield</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--W1WarrantMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputBondEquivalentYieldMember_zBdkWAWls8gh" style="text-align: right" title="Measurement inputs">3.84</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remaining term of W-1 Warrant</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--W1WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zOqjfSZQuvca" style="text-align: right" title="Remaining term of W-1 Warrant">3.61</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Discount for lack of marketability</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--W1WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember_zcM1a3s4SSZb" style="text-align: right" title="Measurement inputs">14.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>August 11, 2022</td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20220811__20221231__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_zvL6B4QaFRGg" style="text-align: right" title="Balance">1,476,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Less: Unrealized gains reported in other income</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_c20220811__20221231__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_zVvaPEQjmPue" style="border-bottom: Black 1.5pt solid; text-align: right" title="Unrealized (gains) losses reported in other income">(900,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20230101__20230331__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_z217Or5Nbbx7" style="text-align: right" title="Balance">576,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Plus: Unrealized losses reported in other income</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_c20230101__20230331__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_zcNGU2sVMhBi" style="border-bottom: Black 1.5pt solid; text-align: right" title="Unrealized (gains) losses reported in other income">252,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>March 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20230401__20230630__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_z8DY0zNOKELj" style="text-align: right" title="Balance">828,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Less: Unrealized gains reported in other income</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_c20230401__20230630__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_zP4RMjCJ1a0c" style="border-bottom: Black 1.5pt solid; text-align: right" title="Unrealized (gains) losses reported in other income">(355,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>June 30, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20230701__20230930__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_z3OKYzMfJp7i" style="text-align: right" title="Balance">473,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Plus: Unrealized losses reported in other income</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_c20230701__20230930__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_zxayIhNlAUIa" style="border-bottom: Black 1.5pt solid; text-align: right" title="Unrealized (gains) losses reported in other income">172,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>September 30, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20231001__20231231__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_zOOjU4uqfuf3" style="text-align: right" title="Balance">645,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Less: Unrealized gains reported in other income</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_c20231001__20231231__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_zFHAO0XUeeY2" style="border-bottom: Black 1.5pt solid; text-align: right" title="Unrealized (gains) losses reported in other income">(181,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_c20231001__20231231__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_zaZBlPjrhLrh" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance">464,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zq9DCott9c3g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company analyzes its intangible assets — goodwill, customer relationships, trade names, investment management agreements, non-compete agreement, and domain names — on an annual basis or more often if events or changes in circumstances indicate potential impairments. No impairments were recorded during the years ended December 31, 2023 and 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As discussed previously, the Company entered into a contingent consideration arrangement pursuant to the RiverPark Agreement, which is included on the consolidated balance sheets on December 31, 2023 for $<span id="xdx_90C_ecustom--ShortAndLongTermOfEarnOutLiability_iI_c20231231__us-gaap--TypeOfArrangementAxis__custom--RiverParkAgreementMember_ztnlwv0c4kn7" title="Short and long term of earn out liability">1,427,212</span>, including both the short and long-term portions, as an earn-out liability. Contingent payment obligations related to asset purchases, if estimable and probable of payment, are initially recorded at their estimated value. When the contingency is ultimately resolved, any additional contingent consideration issued or issuable over the amount that was initially recognized as a liability is considered an additional cost of the acquisition. These additional costs would then be allocated to the qualifying assets on a relative fair value basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As discussed previously, Enterprise Diversified held a promissory note receivable from Triad DIP Investors, LLC and <span id="xdx_901_eus-gaap--InvestmentOwnedBalanceShares_iI_c20231231__us-gaap--InvestmentIssuerNameAxis__custom--TriadGuarantyIncMember_zIKvp7JIS7b" title="Owned balance shares">847,847</span> aggregate shares of Triad Guaranty, Inc. common stock. During the three-month period ended March 31, 2023, Enterprise Diversified was issued a second amended and restated promissory note by Triad DIP Investors, LLC and was further notified that Triad had successfully secured a new financing resource that would permit a full repayment of Enterprise Diversified’s promissory note. On April 27, 2023, the Company received repayment of the full historical principal balance and accrued interest related to the amended and restated promissory note receivable, which was greater than the Company’s historical recorded carrying amount of $<span id="xdx_908_eus-gaap--NotesReceivableFairValueDisclosure_iI_c20221231__us-gaap--AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis__custom--PromissoryNotesMember__srt--CounterpartyNameAxis__custom--TriadDipInvestorsMember_zLN9NjGQRdT8" title="Notes receivable">50,000</span> as of December 31, 2022. As a result of these developments, the Company recognized $<span id="xdx_90A_eus-gaap--OtherIncome_c20230101__20231231__us-gaap--ShortTermDebtTypeAxis__custom--RealizedGainOnCollectionOfNoteMember_zCxXTkKekvJ9" title="Other income">334,400</span> of other income as a realized gain on collection of the note, which is included on the consolidated statements of operations for the year ended December 31, 2023. As of December 31, 2023, the Company attributed no value to its shares of Triad Guaranty, Inc. common stock due to the stocks’ general lack of marketability.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_zOahdnx4Vq56" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents information about the Company’s assets measured at fair value as of the years ended December 31, 2023 and December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zwZPWbuUdKa4" style="display: none">SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49E_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z0dKpuZR7g9g" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Level I</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" id="xdx_496_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z038uS1CgSub" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Level II</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" id="xdx_493_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zLAViUNKL3kh" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Level III</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"> </td> <td colspan="2" id="xdx_490_20231231_zfRWHj8YEy01" style="padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"><span id="xdx_F55_zPYSA9532Uz6" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td><td style="padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">December 31, 2023</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom"><p style="margin-top: 0; margin-bottom: 0">Quoted Prices</p> <p style="margin-top: 0; margin-bottom: 0">in Active</p> <p style="margin-top: 0; margin-bottom: 0">Markets for</p> <p style="margin-top: 0; margin-bottom: 0">Identical Assets</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom"><p style="margin-top: 0; margin-bottom: 0">Significant</p> <p style="margin-top: 0; margin-bottom: 0">Other</p> <p style="margin-top: 0; margin-bottom: 0">Observable</p> <p style="margin-top: 0; margin-bottom: 0">Inputs</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom"><p style="margin-top: 0; margin-bottom: 0">Significant</p> <p style="margin-top: 0; margin-bottom: 0">Unobservable</p> <p style="margin-top: 0; margin-bottom: 0">Inputs</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Excluded (a)</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr id="xdx_406_eus-gaap--EquitySecuritiesFvNiCurrentAndNoncurrent_iI_zsdY1xLT5pi6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Investments in securities, at fair value (cost $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgVkFMVUUgQVNTRVRTIEFORCBMSUFCSUxJVElFUyBNRUFTVVJFRCBPTiBSRUNVUlJJTkcgQkFTSVMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eus-gaap--EquitySecuritiesFvNiCost_iI_c20231231_zbhjcXEeQjy3" title="Equity securities Fv Ni cost">7,847,039</span>)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,715,075</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">         <span style="-sec-ix-hidden: xdx2ixbrl1136">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">  <span style="-sec-ix-hidden: xdx2ixbrl1137">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1138">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--InvestmentOwnedAtFairValue_iI_zkqKlzT0J0e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">W-1 Warrant and Class B Common Stock liability, at fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1142">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1143">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">464,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1145">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--InvestmentInLimitedPartnershipAtNetAssetValue_iI_zXwQJMzV59d2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Investment in limited partnership, at net asset value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1147">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1148">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1149">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">348,815</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--InvestmentInWarrants_iI_zDmvJRU9rKPl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Investment in warrants, at fair value (cost $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgVkFMVUUgQVNTRVRTIEFORCBMSUFCSUxJVElFUyBNRUFTVVJFRCBPTiBSRUNVUlJJTkcgQkFTSVMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_ecustom--FairValueAdjustmentOfWarrant_c20230101__20231231_z8yDPaaLpcre" title="Investment, cost">0</span>)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1152">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">      <span style="-sec-ix-hidden: xdx2ixbrl1153">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">62,400</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1155">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--InvestmentInWarrants_iI_zOl5ooyU5xCd" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Investment in warrants</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1159">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">      <span style="-sec-ix-hidden: xdx2ixbrl1160">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">62,400</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1162">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InvestmentsFairValueDisclosure_iI_zVFK6M85TE7i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,715,075</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1165">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">526,400</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">348,815</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_494_20221231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z4Mhpf3R0vqk" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Level I</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_499_20221231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zsU4DFu1Vdjh" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Level II</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_492_20221231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zGcWMmWGpMV" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Level III</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_493_20221231_zLBXP8qr3WS6" style="text-align: center; vertical-align: bottom"><span id="xdx_F55_zZnl1QasXCy4" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td><td style="text-align: center; padding-bottom: 1.5pt; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">December 31, 2022</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom"><p style="margin-top: 0; margin-bottom: 0">Quoted Prices</p> <p style="margin-top: 0; margin-bottom: 0">in Active</p> <p style="margin-top: 0; margin-bottom: 0">Markets for</p> <p style="margin-top: 0; margin-bottom: 0">Identical Assets</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom"><p style="margin-top: 0; margin-bottom: 0">Significant</p> <p style="margin-top: 0; margin-bottom: 0">Other</p> <p style="margin-top: 0; margin-bottom: 0">Observable</p> <p style="margin-top: 0; margin-bottom: 0">Inputs</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom"><p style="margin-top: 0; margin-bottom: 0">Significant</p> <p style="margin-top: 0; margin-bottom: 0">Unobservable</p> <p style="margin-top: 0; margin-bottom: 0">Inputs</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Excluded (a)</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr id="xdx_40D_eus-gaap--EquitySecuritiesFvNiCurrentAndNoncurrent_iI_zabCk60xMFyf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Investments in securities, at fair value (cost $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEZBSVIgVkFMVUUgQVNTRVRTIEFORCBMSUFCSUxJVElFUyBNRUFTVVJFRCBPTiBSRUNVUlJJTkcgQkFTSVMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eus-gaap--EquitySecuritiesFvNiCost_iI_c20221231_zJ2tptWE2lFb" title="Equity securities Fv Ni cost">5,802,395</span>)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">5,860,688</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">             <span style="-sec-ix-hidden: xdx2ixbrl1170">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1171">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">             <span style="-sec-ix-hidden: xdx2ixbrl1172">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--EquitySecuritiesFvNiCurrentAndNoncurrent_iI_zb8Ug42Q6VV2" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Investments in securities, at fair value</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,860,688</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">             <span style="-sec-ix-hidden: xdx2ixbrl1177">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1178">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">             <span style="-sec-ix-hidden: xdx2ixbrl1179">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--InvestmentOwnedAtFairValue_iI_zoIWt59NnhAc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">W-1 Warrant and Class B Common Stock liability, at fair value</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1181">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1182">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">576,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1184">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InvestmentsFairValueDisclosure_iI_zY07yGLYX9Ha" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,860,688</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1187">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">576,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1189">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F06_zC8gCRkcU3Oe" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F12_zcwBsD0SMJTe" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain investments that are measured at fair value using the NAV per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheets.</span></td></tr> </table> 7847039 7715075 464000 348815 0 62400 62400 7715075 526400 348815 5802395 5860688 5860688 576000 5860688 576000 6520899 4850308 348815 13845 0 100000 20 100000 62400 62400 1800000 <p id="xdx_899_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zF6mk7UQ9O82" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B8_znvZ3gG4cjX1" style="display: none">SCHEDULE OF FAIR VALUE LIABILITIES MEASURED ON RECURRING BASIS UNOBSERVABLE INPUT RECONCILIATION</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">W-1 Warrant and Class B Common Stock</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic">Inputs below are as of December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">ENDI Corp. 30-day VWAP closing stock price</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--W1WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zUKXVLLVXXSf" style="width: 16%; text-align: right" title="Measurement inputs">3.96</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Warrant exercise price</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--W1WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember_zkDa9qwNUkS2" style="text-align: right" title="Measurement inputs">8.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Estimated equity volatility over remaining term</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--W1WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zbYDEd4ZeeMh" style="text-align: right" title="Measurement inputs">32.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">ENDI Corp. annual rate of dividends</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--W1WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_z0DNAKLBzLpg" style="text-align: right" title="Measurement inputs">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Bond equivalent yield</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--W1WarrantMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputBondEquivalentYieldMember_zBdkWAWls8gh" style="text-align: right" title="Measurement inputs">3.84</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remaining term of W-1 Warrant</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--W1WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zOqjfSZQuvca" style="text-align: right" title="Remaining term of W-1 Warrant">3.61</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Discount for lack of marketability</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--W1WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember_zcM1a3s4SSZb" style="text-align: right" title="Measurement inputs">14.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>August 11, 2022</td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20220811__20221231__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_zvL6B4QaFRGg" style="text-align: right" title="Balance">1,476,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Less: Unrealized gains reported in other income</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_c20220811__20221231__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_zVvaPEQjmPue" style="border-bottom: Black 1.5pt solid; text-align: right" title="Unrealized (gains) losses reported in other income">(900,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20230101__20230331__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_z217Or5Nbbx7" style="text-align: right" title="Balance">576,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Plus: Unrealized losses reported in other income</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_c20230101__20230331__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_zcNGU2sVMhBi" style="border-bottom: Black 1.5pt solid; text-align: right" title="Unrealized (gains) losses reported in other income">252,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>March 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20230401__20230630__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_z8DY0zNOKELj" style="text-align: right" title="Balance">828,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Less: Unrealized gains reported in other income</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_c20230401__20230630__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_zP4RMjCJ1a0c" style="border-bottom: Black 1.5pt solid; text-align: right" title="Unrealized (gains) losses reported in other income">(355,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>June 30, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20230701__20230930__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_z3OKYzMfJp7i" style="text-align: right" title="Balance">473,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Plus: Unrealized losses reported in other income</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_c20230701__20230930__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_zxayIhNlAUIa" style="border-bottom: Black 1.5pt solid; text-align: right" title="Unrealized (gains) losses reported in other income">172,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>September 30, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20231001__20231231__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_zOOjU4uqfuf3" style="text-align: right" title="Balance">645,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Less: Unrealized gains reported in other income</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_c20231001__20231231__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_zFHAO0XUeeY2" style="border-bottom: Black 1.5pt solid; text-align: right" title="Unrealized (gains) losses reported in other income">(181,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_c20231001__20231231__us-gaap--FairValueByLiabilityClassAxis__custom--W1WarrantAndClassBCommonStockMember_zaZBlPjrhLrh" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance">464,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 3.96 8.00 32.00 0.00 3.84 P3Y7M9D 14.00 1476000 -900000 576000 252000 828000 -355000 473000 172000 645000 -181000 464000 1427212 847847 50000 334400 <p id="xdx_803_eus-gaap--PropertyPlantAndEquipmentAndIntangibleAssetsTextBlock_z5Ob8MWFCG3b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 7. <span id="xdx_82E_zJR6X6UZfxBf">INTANGIBLE ASSETS AND PROPERTY AND EQUIPMENT</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zCjnkCG3rPx2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s intangible assets as of December 31, 2023 and 2022 are included below.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B6_zOCa01vhW8Th" style="display: none">SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49C_20231231_zKhACIMs3sg9" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">December 31, 2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_496_20221231_z3kHtNFbp7lg" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">December 31, 2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zyhZttGCr9z" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Customer relationships</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,294,768</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InternetDomainNamesMember_zXdJlgruZspk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Domain names</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">144,826</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">175,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zAukTRkCvVua" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Trade names</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InvestmentManagementAgreementsMember_zbUSVRB9e9he" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Investment management agreements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,416</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1272">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--NoncompeteMember_z9vilBbOOag" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Noncompete</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">23,416</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1275">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_z0fhr67Ulj2j" style="vertical-align: bottom; background-color: White"> <td><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets, gross </span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,566,426</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,255,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_zJV9PbqxSKdb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(411,136</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(31,074</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_zcmAlw0fX5n2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Intangible assets, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,155,290</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,223,926</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zZX5uYNdvIBd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization expenses on intangible assets during the years ended December 31, 2023 and 2022 totaled $<span id="xdx_90E_eus-gaap--AmortizationOfIntangibleAssets_c20230101__20231231_z2iNeIH0mqG2" title="Amortization expenses on intangible assets">380,062</span> and $<span id="xdx_905_eus-gaap--AmortizationOfIntangibleAssets_c20220101__20221231_zUzKVxyaZr0a" title="Amortization expenses on intangible assets">31,074</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--PropertyPlantAndEquipmentTextBlock_zDEjcn3mTbKd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The cost of property and equipment as of December 31, 2023 and 2022 consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span id="xdx_8B9_zKHFjgNYoLHe" style="display: none">SCHEDULE OF COST OF PROPERTY AND EQUIPMENT</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49C_20231231_za0YPvI3EcC7" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">December 31, 2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49D_20221231_zWpG50P4Qbbi" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">December 31, 2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzXuk_zMbWeI5RbKK8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Property and equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">108,501</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,431</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzXuk_zdT8XviIRuP" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated depreciation</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,808</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,431</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzXuk_z10ewOxRCzff" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">106,693</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1299">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_z6V6CYI8Va5h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation expense was $<span id="xdx_90D_eus-gaap--Depreciation_c20230101__20231231_zmIfQIfuZVM" title="Depreciation expense">1,808</span> and $<span id="xdx_90C_eus-gaap--Depreciation_c20220101__20221231_zpfoo8J9csta" title="Depreciation expense">3,431</span> for the years ended December 31, 2023 and 2022, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zCjnkCG3rPx2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s intangible assets as of December 31, 2023 and 2022 are included below.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B6_zOCa01vhW8Th" style="display: none">SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49C_20231231_zKhACIMs3sg9" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">December 31, 2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_496_20221231_z3kHtNFbp7lg" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">December 31, 2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zyhZttGCr9z" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Customer relationships</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,294,768</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InternetDomainNamesMember_zXdJlgruZspk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Domain names</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">144,826</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">175,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zAukTRkCvVua" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Trade names</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InvestmentManagementAgreementsMember_zbUSVRB9e9he" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Investment management agreements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,416</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1272">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--NoncompeteMember_z9vilBbOOag" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Noncompete</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">23,416</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1275">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_z0fhr67Ulj2j" style="vertical-align: bottom; background-color: White"> <td><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets, gross </span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,566,426</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,255,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_zJV9PbqxSKdb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(411,136</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(31,074</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_zcmAlw0fX5n2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Intangible assets, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,155,290</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,223,926</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 3294768 1000000 144826 175000 80000 80000 23416 23416 3566426 1255000 -411136 -31074 3155290 1223926 380062 31074 <p id="xdx_89A_eus-gaap--PropertyPlantAndEquipmentTextBlock_zDEjcn3mTbKd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The cost of property and equipment as of December 31, 2023 and 2022 consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span id="xdx_8B9_zKHFjgNYoLHe" style="display: none">SCHEDULE OF COST OF PROPERTY AND EQUIPMENT</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49C_20231231_za0YPvI3EcC7" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">December 31, 2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49D_20221231_zWpG50P4Qbbi" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">December 31, 2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzXuk_zMbWeI5RbKK8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Property and equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">108,501</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,431</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzXuk_zdT8XviIRuP" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated depreciation</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,808</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,431</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzXuk_z10ewOxRCzff" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">106,693</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1299">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 108501 3431 1808 3431 106693 1808 3431 <p id="xdx_80D_eus-gaap--SegmentReportingDisclosureTextBlock_zLQ7JFp4KcG9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 8. <span id="xdx_827_zxFMGt7bStTg">SEGMENT INFORMATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior to the Closing Date, including during the year ended December 31, 2022, the Company operated through a single reportable segment, CrossingBridge operations. Beginning on the Closing Date through the year ended December 31, 2022, the Post-Merger period, and continuing through the current period ended December 31, 2023, the Company operated through <span id="xdx_903_eus-gaap--NumberOfReportableSegments_dc_uinteger_c20230101__20231231_zJwTnQSztGNb" title="Number of reportable segments">four</span> reportable segments: CrossingBridge operations, Willow Oak operations, internet operations, and other operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The CrossingBridge operations segment includes revenue and expenses derived from investment management and advisory and sub-advisory services.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beginning on August 12, 2022, the Willow Oak operations segment includes revenues and expenses derived from various joint ventures, service offerings, and initiatives undertaken in the asset management industry.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beginning on August 12, 2022, the internet operations segment includes revenue and expenses related to the Company’s sale of internet access, e-mail and hosting, storage, and other ancillary services. The Company’s internet segment includes revenue generated by operations in both the United States and Canada. Included in consolidated statements of operations for the years ended December 31, 2023 and 2022, the internet operations segment generated revenue of $<span id="xdx_90A_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsSegmentsMember__srt--StatementGeographicalAxis__country--US_zkw46lCS9nWa" title="Revenue">689,802</span> and $<span id="xdx_90B_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsSegmentsMember__srt--StatementGeographicalAxis__country--US_zbp0r7cpfo6h" title="Revenue">291,472</span> in the United States and revenue of $<span id="xdx_904_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsSegmentsMember__srt--StatementGeographicalAxis__country--CA_zDaaPJlX6kgg" title="Revenue">35,968</span> and $<span id="xdx_904_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsSegmentsMember__srt--StatementGeographicalAxis__country--CA_zkWVlmvH6sCh" title="Revenue">14,208</span> in Canada, respectively. All assets reported under the internet operations segment for the years ended December 31, 2023 and 2022 are located within the United States.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beginning on August 12, 2022, the other operations segment includes revenue and expenses from nonrecurring or one-time strategic funding or similar activity and any revenue or expenses derived from corporate office operations, as well as expenses related to public company reporting, the oversight of subsidiaries, and other items that affect the overall Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_890_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_z6mwIuE1TtXc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Summarized financial information concerning the Company’s reportable segments is shown in the following tables for the years ended December 31, 2023 and 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B1_z7tfOKzF7pwd" style="display: none">SCHEDULE OF SEGMENT REPORTING INFORMATION BY SEGMENT</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">Year Ended December 31, 2023</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_490_20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_zdYWTpq76gAg" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">CrossingBridge</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49D_20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--WillowOakAssetManagementLLCMember_z6fDFn7rIfB1" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Willow Oak</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_491_20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_zlo6GrdgG2Di" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Internet</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49B_20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--AllOtherSegmentsMember_zcQRXUULWu14" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Other</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_490_20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zD1yfzwCy7Ph" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Consolidated</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zXQ9Rzu853jd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%">Revenues</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">8,678,783</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">182,970</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">725,770</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1322">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">9,587,523</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CostOfRevenue_zLch3iJZxiUg" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1325">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1326">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">218,269</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1328">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">218,269</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingExpenses_zm2dg9sEsy76" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,261,667</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">399,928</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">234,173</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,753,039</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,648,807</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--NonoperatingIncomeExpense_zpBVWPB91I2d" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other income (expenses)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">72,094</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,104</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,882</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">755,788</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">809,104</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--NetIncomeLoss_zbNr6geoOwj8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,489,210</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(215,854</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">253,446</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(997,251</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,529,551</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Goodwill</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--Goodwill_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_zj3TMdr3Ah59" style="text-align: right" title="Goodwill">737,869</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--Goodwill_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--WillowOakAssetManagementLLCMember_zMF9yvvVHTD5" style="text-align: right" title="Goodwill"><span style="-sec-ix-hidden: xdx2ixbrl1351">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--Goodwill_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_zztOMs7JUNkg" style="text-align: right" title="Goodwill"><span style="-sec-ix-hidden: xdx2ixbrl1353">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--Goodwill_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--AllOtherSegmentsMember_zSns0uue7uc3" style="text-align: right" title="Goodwill"><span style="-sec-ix-hidden: xdx2ixbrl1355">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--Goodwill_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zHvEUgLkq9ck" style="text-align: right" title="Goodwill">737,869</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Identifiable assets</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--Assets_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_zCH570ZtjXbh" style="text-align: right" title="Assets">7,472,058</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--Assets_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--WillowOakAssetManagementLLCMember_zJczDKUEfXGe" style="text-align: right" title="Assets">661,177</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--Assets_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_zxbzD3oSkCLh" style="text-align: right" title="Assets">805,306</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--Assets_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--AllOtherSegmentsMember_z8048yAM5KV6" style="text-align: right" title="Assets">15,840,578</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--Assets_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zgQGaz9GONE4" style="text-align: right" title="Assets">24,779,119</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">Year Ended December 31, 2022</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49F_20220101__20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_zjXmIOoJuzea" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">CrossingBridge</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49A_20220101__20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--WillowOakAssetManagementLLCMember_zSf7ROGzDUMf" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Willow Oak</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_498_20220101__20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_z1ikEFHtBZRi" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Internet</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_497_20220101__20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--AllOtherSegmentsMember_zH766kf1trBf" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Other</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49E_20220101__20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zGboHjCxTf9d" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Consolidated</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zKIgWH3Q4yG8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%">Revenues</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">7,271,332</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">61,499</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">305,680</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1372">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">7,638,511</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CostOfRevenue_z5yJoBrQT8df" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1375">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1376">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">103,843</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1378">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">103,843</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingExpenses_z8ONohmvdXr8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,998,003</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">172,865</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">105,115</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,153,767</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,429,750</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--NonoperatingIncomeExpense_zcKtFneyrGma" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other income (expenses)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,611</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(692</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(398</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,263,146</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,277,667</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--NetIncomeLoss_zN4KYYADLtrf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,288,940</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(112,058</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">96,324</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(890,621</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,382,585</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Goodwill</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--Goodwill_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_z4CsjbsgjKh3" style="text-align: right" title="Goodwill">737,869</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--Goodwill_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--WillowOakAssetManagementLLCMember_zpo0MvtGxRKc" style="text-align: right" title="Goodwill"><span style="-sec-ix-hidden: xdx2ixbrl1401">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--Goodwill_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_zagykwHfa9Bd" style="text-align: right" title="Goodwill"><span style="-sec-ix-hidden: xdx2ixbrl1403">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--Goodwill_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--AllOtherSegmentsMember_zdeOyenYDTv6" style="text-align: right" title="Goodwill"><span style="-sec-ix-hidden: xdx2ixbrl1405">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--Goodwill_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zLr5gZKeuwp" style="text-align: right" title="Goodwill">737,869</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Identifiable assets</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--Assets_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_zGs6tqnRI1Y8" style="text-align: right" title="Assets">955,625</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--Assets_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--WillowOakAssetManagementLLCMember_zS1gUo8JBjZh" style="text-align: right" title="Assets">726,279</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--Assets_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_zcilL45egb88" style="text-align: right" title="Assets">905,395</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--Assets_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--AllOtherSegmentsMember_zr5hPT3QaHdh" style="text-align: right" title="Assets">18,146,327</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--Assets_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zxtNcZ8kIxIk" style="text-align: right" title="Assets">20,733,626</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AC_zc9zSe1GNOn7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 4 689802 291472 35968 14208 <p id="xdx_890_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_z6mwIuE1TtXc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Summarized financial information concerning the Company’s reportable segments is shown in the following tables for the years ended December 31, 2023 and 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B1_z7tfOKzF7pwd" style="display: none">SCHEDULE OF SEGMENT REPORTING INFORMATION BY SEGMENT</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">Year Ended December 31, 2023</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_490_20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_zdYWTpq76gAg" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">CrossingBridge</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49D_20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--WillowOakAssetManagementLLCMember_z6fDFn7rIfB1" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Willow Oak</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_491_20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_zlo6GrdgG2Di" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Internet</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49B_20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--AllOtherSegmentsMember_zcQRXUULWu14" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Other</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_490_20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zD1yfzwCy7Ph" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Consolidated</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zXQ9Rzu853jd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%">Revenues</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">8,678,783</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">182,970</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">725,770</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1322">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">9,587,523</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CostOfRevenue_zLch3iJZxiUg" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1325">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1326">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">218,269</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1328">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">218,269</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingExpenses_zm2dg9sEsy76" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,261,667</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">399,928</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">234,173</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,753,039</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,648,807</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--NonoperatingIncomeExpense_zpBVWPB91I2d" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other income (expenses)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">72,094</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,104</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,882</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">755,788</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">809,104</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--NetIncomeLoss_zbNr6geoOwj8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,489,210</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(215,854</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">253,446</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(997,251</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,529,551</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Goodwill</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--Goodwill_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_zj3TMdr3Ah59" style="text-align: right" title="Goodwill">737,869</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--Goodwill_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--WillowOakAssetManagementLLCMember_zMF9yvvVHTD5" style="text-align: right" title="Goodwill"><span style="-sec-ix-hidden: xdx2ixbrl1351">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--Goodwill_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_zztOMs7JUNkg" style="text-align: right" title="Goodwill"><span style="-sec-ix-hidden: xdx2ixbrl1353">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--Goodwill_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--AllOtherSegmentsMember_zSns0uue7uc3" style="text-align: right" title="Goodwill"><span style="-sec-ix-hidden: xdx2ixbrl1355">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--Goodwill_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zHvEUgLkq9ck" style="text-align: right" title="Goodwill">737,869</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Identifiable assets</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--Assets_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_zCH570ZtjXbh" style="text-align: right" title="Assets">7,472,058</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--Assets_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--WillowOakAssetManagementLLCMember_zJczDKUEfXGe" style="text-align: right" title="Assets">661,177</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--Assets_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_zxbzD3oSkCLh" style="text-align: right" title="Assets">805,306</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--Assets_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--AllOtherSegmentsMember_z8048yAM5KV6" style="text-align: right" title="Assets">15,840,578</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--Assets_iI_c20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zgQGaz9GONE4" style="text-align: right" title="Assets">24,779,119</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">Year Ended December 31, 2022</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49F_20220101__20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_zjXmIOoJuzea" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">CrossingBridge</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49A_20220101__20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--WillowOakAssetManagementLLCMember_zSf7ROGzDUMf" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Willow Oak</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_498_20220101__20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_z1ikEFHtBZRi" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Internet</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_497_20220101__20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--AllOtherSegmentsMember_zH766kf1trBf" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Other</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" id="xdx_49E_20220101__20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zGboHjCxTf9d" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Consolidated</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zKIgWH3Q4yG8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%">Revenues</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">7,271,332</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">61,499</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">305,680</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1372">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">7,638,511</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CostOfRevenue_z5yJoBrQT8df" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1375">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1376">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">103,843</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1378">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">103,843</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingExpenses_z8ONohmvdXr8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,998,003</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">172,865</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">105,115</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,153,767</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,429,750</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--NonoperatingIncomeExpense_zcKtFneyrGma" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other income (expenses)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,611</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(692</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(398</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,263,146</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,277,667</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--NetIncomeLoss_zN4KYYADLtrf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,288,940</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(112,058</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">96,324</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(890,621</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,382,585</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Goodwill</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--Goodwill_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_z4CsjbsgjKh3" style="text-align: right" title="Goodwill">737,869</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--Goodwill_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--WillowOakAssetManagementLLCMember_zpo0MvtGxRKc" style="text-align: right" title="Goodwill"><span style="-sec-ix-hidden: xdx2ixbrl1401">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--Goodwill_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_zagykwHfa9Bd" style="text-align: right" title="Goodwill"><span style="-sec-ix-hidden: xdx2ixbrl1403">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--Goodwill_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--AllOtherSegmentsMember_zdeOyenYDTv6" style="text-align: right" title="Goodwill"><span style="-sec-ix-hidden: xdx2ixbrl1405">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--Goodwill_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zLr5gZKeuwp" style="text-align: right" title="Goodwill">737,869</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Identifiable assets</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--Assets_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--CrossingBridgeMember_zGs6tqnRI1Y8" style="text-align: right" title="Assets">955,625</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--Assets_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--WillowOakAssetManagementLLCMember_zS1gUo8JBjZh" style="text-align: right" title="Assets">726,279</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--Assets_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--InternetOperationsMember_zcilL45egb88" style="text-align: right" title="Assets">905,395</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--Assets_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--AllOtherSegmentsMember_zr5hPT3QaHdh" style="text-align: right" title="Assets">18,146,327</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--Assets_iI_c20221231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zxtNcZ8kIxIk" style="text-align: right" title="Assets">20,733,626</td><td style="text-align: left"> </td></tr> </table> 8678783 182970 725770 9587523 218269 218269 5261667 399928 234173 1753039 7648807 72094 1104 -19882 755788 809104 3489210 -215854 253446 -997251 2529551 737869 737869 7472058 661177 805306 15840578 24779119 7271332 61499 305680 7638511 103843 103843 3998003 172865 105115 2153767 6429750 15611 -692 -398 1263146 1277667 3288940 -112058 96324 -890621 2382585 737869 737869 955625 726279 905395 18146327 20733626 <p id="xdx_802_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zQ1ScI5KFV1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 9. <span id="xdx_820_zhrkfvLoq493">COMMITMENTS AND CONTINGENCIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Leases</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2023 and 2022, the Company had no long-term leases that required right-of-use assets or lease liabilities to be recognized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with ongoing accounting policy elections, the Company does not recognize right-of-use assets or lease liabilities for short-term or month-to-month leases. Total rental expenses attributed to short-term leases, including its membership agreement through ENDI Corp. and its license agreement through CBA, for the years ended December 31, 2023 and 2022 were $<span id="xdx_909_eus-gaap--OperatingLeaseExpense_c20230101__20231231_zaY2PHtbDMA8" title="Operating lease, expense">81,785</span> and $<span id="xdx_908_eus-gaap--OperatingLeaseExpense_c20220101__20221231_z9wrCLXuRqrb" title="Operating lease, expense">82,996</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 15pt; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There are no other operating lease costs for the years ended December 31, 2023 and 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Other Commitments</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Registration Rights Agreement</i></b> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As discussed in Note 4, on the Closing Date, the Company entered into the RRA with certain stockholders that are deemed to be affiliates of ENDI immediately following the closing of the Mergers, pursuant to which such stockholders’ Class A Common Shares, including the Class A Common Shares underlying any warrants issued in connection with the Mergers, will be registered for resale on a registration statement to be filed by the Company with the SEC under the Securities Act of 1933, as amended. On May 1, 2023, the Company entered into a second amendment to the RRA pursuant to which the parties extended the deadline by which the Company shall prepare and file or cause to be prepared and filed with the SEC a registration statement to on or before August 1, 2023, and on August 1, 2023, the Company entered into a third amendment to the RRA pursuant to which the parties extended the deadline by which the Company shall prepare and file or cause to be prepared and filed with the SEC a registration statement to on or before March 31, 2024. On January 12, 2024, the Company entered into an amendment to the RRA that indefinitely defers the Company’s obligation to file a shelf registration statement relating to the resale of such securities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Litigation &amp; Legal Proceedings</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Enterprise Diversified, Inc. (f/k/a Sitestar Corporation) v. Frank Erhartic, Jr.</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 12, 2016, Enterprise Diversified filed a civil action complaint against Frank Erhartic, Jr. (the “Former CEO”), Enterprise Diversified’s former CEO and director (prior to December 14, 2015) and an owner of record of Enterprise Diversified’s common stock, alleging, among other things, that the Former CEO engaged in, and caused Enterprise Diversified to engage in, to its detriment, a series of unauthorized and wrongful related party transactions, including: causing Enterprise Diversified to borrow certain amounts from the Former CEO’s mother unnecessarily and at a commercially unreasonable rate of interest; converting certain funds of Enterprise Diversified for personal rent payments to the Former CEO; commingling in land trusts certain real properties owned by Enterprise Diversified and real properties owned by the Former CEO; causing Enterprise Diversified to pay certain amounts to the Former CEO for lease payments under an unauthorized lease as to a storage facility owned by the Former CEO; causing Enterprise Diversified to pay rent on its corporate headquarters owned by the Former CEO’s ex-wife in amounts commercially unreasonable and excessive, and making real estate tax payments thereon for the personal benefit of the Former CEO; converting to the Former CEO and/or absconding with five motor vehicles owned by Enterprise Diversified; causing Enterprise Diversified to pay real property and personal property taxes on numerous properties owned personally by the Former CEO; causing Enterprise Diversified to pay personal credit card debt of the Former CEO; causing Enterprise Diversified to significantly overpay the Former CEO’s health and dental insurance for the benefit of the Former CEO; and causing Enterprise Diversified to pay the Former CEO’s personal automobile insurance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The lawsuit was tried to a jury in the Circuit Court for the City of Lynchburg (Lynchburg, Virginia) in September 2023, and the jury returned a unanimous verdict in favor of Enterprise Diversified and against Frank Erhartic, Jr. On September 25, 2023, the Court entered a civil judgment in favor of Enterprise Diversified in the amount of $<span id="xdx_908_eus-gaap--LossContingencyDamagesSoughtValue_c20230925__20230925__srt--LitigationCaseAxis__custom--CivilActionComplaintAgainstFrankErharticJrMember_zWWk6JMvRKx7" title="Loss contingency, damages sought">243,423</span>, plus interest in the amount of <span id="xdx_90D_ecustom--LossContingencyDamagesSoughtPercentage_iI_dp_uPure_c20230925__srt--LitigationCaseAxis__custom--CivilActionComplaintAgainstFrankErharticJrMember_znJhlEbujGj8" title="Loss contingency damages sought percentage">6</span>% per year until the judgement is paid in full. Mr. Erhartic filed a Notice of Appeal on October 17, 2023, which is pending.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 15pt; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 15pt; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">On November 27, 2023, Enterprise Diversified initiated a civil action in Nevada to domesticate the Judgment to execute on the Former CEO’s stock in Enterprise Diversified. Following a statutorily required stay of execution, on February 13, 2024, Enterprise Diversified filed a request with the court to require the Former CEO to deliver his shares to Enterprise Diversified, or in the alternative, to allow Enterprise Diversified to issue new shares. Upon the Nevada Court’s determination to grant Enterprise Diversified’s request, and once in possession of the shares, Enterprise Diversified will be entitled to execute on the shares to satisfy amounts owed under the Judgment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 15pt; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 15pt; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 81785 82996 243423 0.06 <p id="xdx_800_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zQkuYxHq1ISe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 10. <span id="xdx_82A_zS2mFqjeMEIh">STOCKHOLDERS’ EQUITY</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Classes of Shares</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2023, the Company’s Certificate of Incorporation authorizes the issuance of an aggregate of <span id="xdx_902_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20231231_zwc7xSB0a5h3" title="Common stock, shares authorized">17,800,000</span> shares of capital stock of the Company consisting of <span id="xdx_901_eus-gaap--CommonStockSharesAuthorized_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zboEZl99TNA4" title="Common stock, shares authorized">14,000,000</span> authorized shares of Class A Common Stock, par value of $<span id="xdx_909_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z0bRWHUXNL38" title="Common stock, par value">0.0001</span> per share, <span id="xdx_90F_eus-gaap--CommonStockSharesAuthorized_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z1hxuzXp5x0j" title="Common stock, shares authorized">1,800,000</span> authorized shares of Class B Common Stock, par value of $<span id="xdx_90A_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zIW4tEaQUuA6" title="Common stock, par value">0.0001</span> per share, and <span id="xdx_907_eus-gaap--PreferredStockSharesAuthorized_iI_c20231231_zNDP19mW1f7f" title="Preferred stock, shares authorized">2,000,000</span> shares of preferred stock, par value of $<span id="xdx_909_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20231231_zwLK4WMGbgrg" title="Preferred stock, par value">0.0001</span> per share (“Preferred Stock”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Class A Common Stock</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2023, <span id="xdx_90E_eus-gaap--CommonStockSharesOutstanding_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zD3C1sxS2i9e" title="Common stock, shares outstanding">5,452,383</span> shares of the Company’s Class A Common Stock were issued and outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Holders of the Company’s Class A Common Stock are entitled to <span id="xdx_90E_eus-gaap--CommonStockVotingRights_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z5kLAuDXMp9l" title="Common stock, voting rights">one vote per share</span> on all matters on which stockholders of the Company generally or holders of the Company’s Class A Common Stock as a separate class are entitled to vote. However, holders of the Company’s Class A Common Stock will have no voting power as to any amendment to Company’s Certificate of Incorporation relating solely to the terms of any outstanding series of ENDI Corp. Preferred Stock if the holders of such affected series are entitled, either separately or together with the holders of one or more other such series, to vote thereon pursuant to the Company’s Certificate of Incorporation or pursuant to the Delaware General Corporation Law (“DGCL”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject to applicable law and the rights, if any, of the holders of any outstanding series of Preferred Stock or any other outstanding class or series of stock of the Company, having a preference over or the right to participate with the Class A Common Stock with respect to the payment of dividends and other distributions in cash, property or shares of stock of the Company, holders of the Company’s Class A Common Stock are entitled to receive such dividends and other distributions in cash, property or shares of ENDI Corp. stock when, as and if declared thereon by the Company’s board of directors from assets or funds legally available therefor. Upon a liquidation, dissolution or winding up of the Company’s affairs, after payment or provision for payment of the debts and other liabilities of the Company and of the preferential and other amounts, if any, to which the holders of ENDI Corp. Preferred Stock shall be entitled, the holders of all outstanding shares of ENDI Corp.’s Class A Common Stock will be entitled to receive, on a pro rata basis, the remaining assets of the Company available for distribution ratably in proportion to the number of shares held by each such stockholder.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 15pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Class B Common Stock</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2023, <span id="xdx_90B_eus-gaap--CommonStockSharesOutstanding_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z2zHHtDp0P78" title="Common stock, shares outstanding">1,800,000</span> shares of the Company’s Class B Common Stock were issued and outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Holders of the Company’s Class B Common Stock are entitled to <span id="xdx_907_eus-gaap--CommonStockVotingRights_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zZ84rklPgJqc" title="Common stock, voting rights">one vote per share</span> on all matters on which stockholders of the Company generally or holders of Company’s Class B Common Stock as a separate class are entitled to vote. However, holders of the Company’s Class B Common Stock will have no voting power as to any amendment to the Company’s Certificate of Incorporation relating solely to the terms of any outstanding series of Preferred Stock if the holders of such affected series are entitled, either separately or together with the holders of one or more other such series, to vote thereon pursuant to the Company’s Certificate of Incorporation or pursuant to the DGCL. The holders of ENDI Corp.’s Class B Common Stock are not entitled to receive any dividends or other distributions in cash, property, or shares of the Company’s stock and will not be entitled to receive any assets of ENDI Corp. in the event of any liquidation, dissolution, or winding up of the Company’s affairs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Preferred Stock</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2023, the Company had <span id="xdx_903_eus-gaap--PreferredStockSharesIssued_iI_do_c20231231_zDxjQV372mGb" title="Preferred stock, shares issued">no</span> issued shares of Preferred Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The voting, dividend, distribution, and any other rights of holders of any series of the Company’s Preferred Stock will be as described in the applicable Certificate of Designation designating such series of Preferred Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 17800000 14000000 0.0001 1800000 0.0001 2000000 0.0001 5452383 one vote per share 1800000 one vote per share 0 <p id="xdx_807_eus-gaap--IncomeTaxDisclosureTextBlock_z3j9J5HoS7ae" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 11. <span id="xdx_820_z3oQ4LMsUlK5">INCOME TAXES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_z0VTZ90GkSmc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The provision for federal and state income taxes for the years ended December 31, 2023 and 2022 included the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 15pt; text-align: justify; text-indent: 27pt"><span id="xdx_8BB_zsRRC1f6lO91" style="display: none">SCHEDULE OF COMPONENTS OF FEDERAL AND STATE INCOME TAXES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20230101__20231231_z5RQEjFKDRO3" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20220101__20221231_zA3mSR0Tl029" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Year Ended December 31,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current provision (benefit):</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CurrentFederalTaxExpenseBenefit_maITEBz7tY_zSkBvGhr766h" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Federal</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><p style="margin: 0">307,923</p></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1460">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_maITEBz7tY_zZ37osgrEKle" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">State</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="margin: 0">39,872</p></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1463">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred provision (benefit):</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_maITEBz7tY_zr9zPwc3lHre" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%">Federal</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">280,776</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(186,103</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_maITEBz7tY_zCxQzxWx21ga" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">State</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,067</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,575</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBz7tY_zI9YlNZu2kn1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1471">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1472">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBz7tY_zXxodLP8SW7d" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 2.5pt">Total income tax expense (benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><p style="margin: 0">613,504</p></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(191,678</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p id="xdx_8A4_z7Zee7qe1mc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 15pt; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred tax assets and liabilities reflect the net effect of temporary differences between the carrying amount of assets and liabilities used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities at December 31, 2023 and 2022 are as follows:</span></p> <p id="xdx_891_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zzWbP0AgFZY1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 15pt; text-align: justify; text-indent: 27pt"><span id="xdx_8B5_zijsnLLtsQZ9" style="display: none">SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20231231_zvN4ZYyPUAyi" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20221231_zJGDVqtnnQgk" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Year Ended December 31,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_maDTANzNRr_maDTANzcul_zpZtBmoDM1X8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Net operating loss carryforwards</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,289,646</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,475,901</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DeferredTaxAssetsCarryingValueDifferences_iI_maDTANzNRr_maDTANzcul_zIwsGkwdzTh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 10pt; width: 60%">Carrying value differences</td><td style="padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 16%; text-align: right">215,337</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"></td><td style="border-bottom: Black 1.5pt solid; width: 16%; text-align: right">203,541</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxAssetsNet_iTI_mtDTANzcul_maDTALNzunw_zIGNZHiHHB1l" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Net deferred tax assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">1,504,983</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">1,679,442</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left"></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred tax liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DeferredTaxLiabilitiesCarryingValueDifferences_iI_maDTALNzunw_ztx5HBCqYC6c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1.5pt">Carrying value differences</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(355,632</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(238,208</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_mtDTALNzunw_zDBGE80GeDlk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 2.5pt">Net deferreds</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,149,351</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,441,234</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AD_z1jaowmBVyP9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 15pt; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zHvEqwO4ewTk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reconciliation between the Company’s effective tax rate on income from continuing operations and the statutory tax rate for the years ended December 31, 2023 and 2022, is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 15pt; text-align: justify; text-indent: 27pt"><span id="xdx_8B9_zti9z6GAcKm2" style="display: none">SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20230101__20231231_zdO3DM15l8P9" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20220101__20221231_ztJEXTZafKM7" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Year Ended December 31,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_zd0aVypmViVb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Net income tax provision (benefit) at federal statutory rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEVGRkVDVElWRSBJTkNPTUUgVEFYIFJBVEUgUkVDT05DSUxJQVRJT04gKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20230101__20231231_z6HlfMkLWmz2" title="Percentage of federal statutory rate">21</span>%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">660,042</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(172,768</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBzc2V_z53xFucdotud" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Net income tax (provision) benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">660,042</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(172,768</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Adjustments to reconcile to the effective rate:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_maITEBzc2V_zQxCco9HqFB9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">State and local income tax (benefit), net of federal tax benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">57,143</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(14,736</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--IncomeTaxReconciliationDeductionsDividends_iN_di_msITEBzc2V_zhbXmPobhR8h" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Dividends received deduction</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(48,224</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1508">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--IncomeTaxReconciliationNondeductibleExpenseNonTaxableGain_maITEBzc2V_z1y3LgpI0eCl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Non-taxable gain</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(35,112</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1511">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount_maITEBzc2V_zDkWxAfTK0Oc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Stock compensation and related expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1513">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">185,169</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--IncomeTaxReconciliationW1WarrantMarkettomarket_iN_di_msITEBzc2V_zHsaAIaB1FD5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">W-1 Warrant mark-to-market</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(23,520</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(189,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxReconciliationOtherReconcilingItems_maITEBzc2V_z72jBrXmcZD5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,175</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(343</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzc2V_zEKJK1nBimb7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 2.5pt">Effective income tax provision (benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">613,504</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(191,678</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p id="xdx_8A9_z4RNixb1MPT4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 15pt; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As mentioned in Note 2, in as much as CBA had a single member prior to the Closing Date, it had historically been treated as a disregarded entity for income tax purposes. Consequently, Federal and state income taxes have not been provided for periods prior to the Closing Date as its single member was taxed directly on CBA’s earnings. During 2021, CBA’s historical single member made a pass-through entity tax (“PTET”) election with New York State. The PTET is an optional tax that partnerships or New York S corporations may annually elect to pay on certain income for tax years beginning on or after January 1, 2021. If an eligible partnership or New York S corporation elects to pay the PTET, its partners, members, or shareholders subject to personal income tax may be eligible for a PTET credit on their New York State income tax returns. CBA’s carve-out piece of the 2021 PTET election made by CBA’s historical single member was $<span id="xdx_901_ecustom--AmountOfPTETElection_iI_c20211231_zSuczU4tuBQ8" title="PTET election">112,100</span> and is included in the due to affiliate balance on the balance sheet as of the year ended December 31, 2021. CBA activity subsequent to the Closing Date was consolidated within ENDI Corp.’s tax return that was filed for the year ended December 31, 2022 and has was included in the income tax provision for the year ended December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GAAP provides for the recognition of deferred tax assets if realization of such assets is more likely than not. As of December 31, 2023 and 2022, the Company had federal and state net operating loss carryforwards of approximately $<span id="xdx_907_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20231231_zY2M8xzR5ed8" title="Operating loss carryforwards">6.0</span> million and $<span id="xdx_905_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20221231_zaicUI961LKi" title="Operating loss carryforwards">6.8</span> million, respectively. A portion of these carryforwards will expire in various amounts beginning in 2035, however the majority of these carryforwards will not expire as they were generated after December 31, 2017. The Company expects it will be able to use its carryforwards subject to expiration in full prior to 2035. Section 382 limits the use of net operating loss carryforwards in certain situations where changes occur in the stock ownership of a company. Net operating losses that arose prior to that ownership change will have limited availability to offset taxable income arising in periods following the ownership change. During the year ended December 31, 2022, the Company performed an analysis to determine if a change of control occurred as a product of the Business Combination, and has determined that a change of control is more likely than not to have occurred on August 11, 2022. Under Section 382, net operating loss carryforwards that arose prior to the ownership change will have limited availability to offset taxable income arising in future periods following the ownership change. Section 382 imposes multiple separate and distinct limits on the utilization of pre-change of control net operating losses based on the fair market value of the Company immediately prior to the change of control, as well as certain activities that may or may not occur during the 60 months immediately following the change of control. While the majority of the Company’s historic net operating losses will be limited to an annual threshold, the majority of historic net operating losses also will not be subject to future expiration. As of the years ended December 31, 2023 and 2022, the Company has not provided a valuation allowance against its net operating losses as the Company expects to be able to use its net operating losses in full to offset future taxable income generated by the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As described further in Note 4, during the three-month period ended December 31, 2022, the Company recorded a measurement period adjustment to the preliminary recorded fair value assigned to the Company’s acquired net deferred tax assets on the Closing Date. The fair value of acquired net deferred tax assets was increased from $<span id="xdx_90B_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_c20220811_zmPN6rVCoBo6" title="Deferred tax assets, net">0</span> to $<span id="xdx_903_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_c20221231_zYgHCrM3PUIg" title="Deferred tax assets, net">1,249,556</span>, with the corresponding decrease allocated to the Company’s residual amount of goodwill as of December 31, 2022. This adjustment was the product of the Section 382 analysis described above.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is required to recognize in the financial statements the impact of a tax position, if that position is not more likely than not of being sustained on audit, based on the technical merits of the position. The Company’s policy is to record interest and penalties related to unrecognized tax benefits in income tax expense. There was <span id="xdx_90A_eus-gaap--UnrecognizedTaxBenefits_iI_do_c20231231_zd8kDAr2b8ii" title="Unrecognized tax benefit"><span id="xdx_90A_eus-gaap--UnrecognizedTaxBenefits_iI_do_c20221231_zZobqeo9PH6j" title="Unrecognized tax benefit">no</span></span> unrecognized tax benefit as of December 31, 2023 and 2022. The Company does not expect that its uncertain tax positions will materially change in the next 12 months. No liability related to uncertain tax positions is recorded on the accompanying financial statements related to uncertain tax positions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company operates in various tax jurisdictions and is subject to audit by various tax authorities. To the extent of the Company’s tax loss carryovers, the Company’s federal and state tax returns will be subject to examination by the tax authorities from the earliest years in which such tax attributes arise. While the amount of those tax loss carryovers continues to be subject to adjustment, any assessment of additional tax for those prior years is generally barred, except for the three most recent years (federal) or four most recent years (state). Tax contingencies are based upon their technical merits, relative law, and the specific facts and circumstances as of each reporting period. Changes in facts and circumstances could result in material changes to the amounts recorded for such tax contingencies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the years ended December 31, 2023 and 2022, the Company reported $<span id="xdx_90A_eus-gaap--IncomeTaxExpenseBenefit_c20230101__20231231_zqZwXe9PUT71" title="Income tax expense (benefit)">613,504</span> of income tax expense and $<span id="xdx_903_eus-gaap--IncomeTaxExpenseBenefit_iN_di_c20220101__20221231_zf8EIr4U0rvc" title="Income tax benefit">191,678</span> of income tax benefit, respectively, as a result of the Company’s current tax liabilities and the change in the Company’s net deferred tax assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_z0VTZ90GkSmc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The provision for federal and state income taxes for the years ended December 31, 2023 and 2022 included the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 15pt; text-align: justify; text-indent: 27pt"><span id="xdx_8BB_zsRRC1f6lO91" style="display: none">SCHEDULE OF COMPONENTS OF FEDERAL AND STATE INCOME TAXES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20230101__20231231_z5RQEjFKDRO3" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20220101__20221231_zA3mSR0Tl029" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Year Ended December 31,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current provision (benefit):</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CurrentFederalTaxExpenseBenefit_maITEBz7tY_zSkBvGhr766h" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Federal</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><p style="margin: 0">307,923</p></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1460">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_maITEBz7tY_zZ37osgrEKle" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">State</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="margin: 0">39,872</p></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1463">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred provision (benefit):</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_maITEBz7tY_zr9zPwc3lHre" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%">Federal</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">280,776</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(186,103</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_maITEBz7tY_zCxQzxWx21ga" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">State</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,067</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,575</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBz7tY_zI9YlNZu2kn1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1471">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1472">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBz7tY_zXxodLP8SW7d" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 2.5pt">Total income tax expense (benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><p style="margin: 0">613,504</p></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(191,678</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> 307923 39872 280776 -186103 -15067 -5575 613504 -191678 <p id="xdx_891_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zzWbP0AgFZY1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 15pt; text-align: justify; text-indent: 27pt"><span id="xdx_8B5_zijsnLLtsQZ9" style="display: none">SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20231231_zvN4ZYyPUAyi" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20221231_zJGDVqtnnQgk" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Year Ended December 31,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_maDTANzNRr_maDTANzcul_zpZtBmoDM1X8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Net operating loss carryforwards</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,289,646</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,475,901</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DeferredTaxAssetsCarryingValueDifferences_iI_maDTANzNRr_maDTANzcul_zIwsGkwdzTh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 10pt; width: 60%">Carrying value differences</td><td style="padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 16%; text-align: right">215,337</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"></td><td style="border-bottom: Black 1.5pt solid; width: 16%; text-align: right">203,541</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxAssetsNet_iTI_mtDTANzcul_maDTALNzunw_zIGNZHiHHB1l" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Net deferred tax assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">1,504,983</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">1,679,442</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left"></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred tax liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DeferredTaxLiabilitiesCarryingValueDifferences_iI_maDTALNzunw_ztx5HBCqYC6c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1.5pt">Carrying value differences</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(355,632</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(238,208</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_mtDTALNzunw_zDBGE80GeDlk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 2.5pt">Net deferreds</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,149,351</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,441,234</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1289646 1475901 215337 203541 1504983 1679442 -355632 -238208 1149351 1441234 <p id="xdx_893_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zHvEqwO4ewTk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reconciliation between the Company’s effective tax rate on income from continuing operations and the statutory tax rate for the years ended December 31, 2023 and 2022, is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 15pt; text-align: justify; text-indent: 27pt"><span id="xdx_8B9_zti9z6GAcKm2" style="display: none">SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20230101__20231231_zdO3DM15l8P9" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20220101__20221231_ztJEXTZafKM7" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Year Ended December 31,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_zd0aVypmViVb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Net income tax provision (benefit) at federal statutory rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEVGRkVDVElWRSBJTkNPTUUgVEFYIFJBVEUgUkVDT05DSUxJQVRJT04gKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20230101__20231231_z6HlfMkLWmz2" title="Percentage of federal statutory rate">21</span>%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">660,042</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(172,768</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBzc2V_z53xFucdotud" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Net income tax (provision) benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">660,042</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(172,768</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Adjustments to reconcile to the effective rate:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_maITEBzc2V_zQxCco9HqFB9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">State and local income tax (benefit), net of federal tax benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">57,143</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(14,736</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--IncomeTaxReconciliationDeductionsDividends_iN_di_msITEBzc2V_zhbXmPobhR8h" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Dividends received deduction</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(48,224</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1508">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--IncomeTaxReconciliationNondeductibleExpenseNonTaxableGain_maITEBzc2V_z1y3LgpI0eCl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Non-taxable gain</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(35,112</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1511">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount_maITEBzc2V_zDkWxAfTK0Oc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Stock compensation and related expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1513">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">185,169</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--IncomeTaxReconciliationW1WarrantMarkettomarket_iN_di_msITEBzc2V_zHsaAIaB1FD5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">W-1 Warrant mark-to-market</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(23,520</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(189,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxReconciliationOtherReconcilingItems_maITEBzc2V_z72jBrXmcZD5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,175</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(343</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzc2V_zEKJK1nBimb7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 2.5pt">Effective income tax provision (benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">613,504</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(191,678</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> 0.21 660042 -172768 660042 -172768 57143 -14736 48224 -35112 185169 23520 189000 3175 -343 613504 -191678 112100 6000000.0 6800000 0 1249556 0 0 613504 -191678 <p id="xdx_80D_eus-gaap--SubsequentEventsTextBlock_znjtMUOWYEV1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 12. <span id="xdx_823_zyzczCIMzKjb">SUBSEQUENT EVENTS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Deregistration</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On January 12, 2024, we filed a Form 15 certifying the deregistration of our Class A common stock under Section 12(g) of the Exchange Act and suspension of our duty to file reports under Sections 13 and 15(d) of the Exchange Act. Once the Company’s deregistration is effective, approximately 90 days after the submission of its Form 15, the Company will continue to be quoted on the OTCQB tier under OTC Market’s alternative reporting method.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>CBA and RiverPark Transaction</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 9pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On March 9, 2024, CBA replaced its affiliate Cohanzick as the Sub-Adviser to the RiverPark Short Term High Yield Fund (the “RiverPark Fund”). RiverPark Advisors, LLC (“RiverPark”) remains the advisor to the RiverPark Fund. The RiverPark Fund, which has been advised by RiverPark and sub-advised by Cohanzick since its inception on September 30, 2010, currently has in excess of $<span id="xdx_90F_eus-gaap--AssetsUnderManagementCarryingAmount_iI_pn6n6_c20240309__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeAdvisorsLLCMember__dei--LegalEntityAxis__custom--RiverParkAdvisorsLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zRMfklrfMa21" title="Assets under management">780</span> million in AUM. Current Portfolio Manager, David Sherman, will continue to manage the RiverPark Fund in his capacity as President and Portfolio Manager of CBA, thereby consolidating all investment strategies under the CBA fund family.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 9pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>CBA and Cohanzick Transaction</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt">On March 8, 2024, Cohanzick entered into an agreement with CBA to assign all other investment advisory contracts and additional assets, and CBA assumed certain liabilities arising from such advisory contracts. Cohanzick is deregistering as a registered investment advisor. CBA paid Cohanzick $<span id="xdx_902_eus-gaap--NoninterestExpenseInvestmentAdvisoryFees_c20240308__20240308__srt--ConsolidatedEntitiesAxis__custom--CrossingBridgeAdvisorsLLCMember__dei--LegalEntityAxis__custom--RiverParkAdvisorsLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zutEg3Ae9c93" title="Advisory contracts amount">10,000,000</span> for the advisory contracts by way of a promissory note. CBA will pay Cohanzick quarterly interest payments beginning on June 30, 2024 until the note is paid in full. The note matures on March 8, 2031. CBA cannot prepay all or any portion of the principal amount of the note prior to March 8, 2027. After March 8, 2027, CBA may prepay the note without any penalty or premium. The note is solely an obligation of CBA and is non-recourse to ENDI. There has been no change in ownership among Cohanzick, CBA and ENDI. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management has evaluated all subsequent events from December 31, 2023, through April 1, 2024, the date the consolidated financial statements were issued. Management concluded that no additional subsequent events have occurred that would require recognition or disclosure in the consolidated financial statements.</span></p> 780000000 10000000 Certain investments that are measured at fair value using the NAV per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheets.