|
FY2025
12 months to Dec 31, 2025
|
FY2024
12 months to Dec 31, 2024
|
|
|---|---|---|
| Cash Flows From Operating Activities | ||
| Net income (loss) | ||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | ||
| Deferred income taxes | ||
| Amortization of debt issuance costs | ||
| Non-cash lease expense | ||
| Capitalized interest - promissory notes | ||
| Affiliates | ||
| Members | ||
| Change in allowance for credit losses | ||
| Share-based compensation | ||
| Changes in operating assets and liabilities: | ||
| Due from clearing broker | ||
| Commissions receivable | ||
| Other receivables | ||
| Other assets | ||
| Accounts payable and accrued expenses | ||
| Commissions payable | ||
| Operating lease liabilities | ||
| Net Cash Provided By (Used In) Operating Activities | ||
| Cash Flows From Investing Activities | ||
| Purchases of property and equipment | ||
| Net Cash Used In Investing Activities | ||
| Cash Flows From Financing Activities | ||
| Borrowings under note payable | ||
| Payment of debt issuance costs | ||
| Repayment of promissory notes-affiliates | ||
| Repayment of borrowings from members | ||
| Net payment for reverse merger and recapitalization | ||
| Proceeds from Series A redeemable convertible preferred stock issuance | ||
| Proceeds from Series B convertible stock issurance | ||
| Dividends - Series A Redeemable Convertible Preferred Stock | ||
| Dividend Series A - redeemable convertible preferred stock | ||
| Dividend Series B - redeemable convertible preferred stock | ||
| Proceeds from exercise of warrants | ||
| Distribution of capital | ||
| Net Cash (Used In) Provided By Financing Activities | ||
| Net Change in Cash, Cash Equivalents and Restricted Cash | ||
| Cash, Cash Equivalents and Restricted Cash - Beginning of Period | ||
| Cash, Cash Equivalents and Restricted Cash - End of Period | ||
| Cash Paid During the Period for: | ||
| Interest | ||
| Income taxes |
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