Dominari Holdings Inc. Files Q2 2024 10-Q

TL;DR

Dominari Holdings Inc. (FORMERLY AIkido Pharma) filed its Q2 2024 10-Q. Check financials.

AI Summary

Dominari Holdings Inc. filed its 10-Q for the quarterly period ended June 30, 2024. The company, formerly known as AIkido Pharma Inc., is incorporated in Delaware and headquartered in New York. This filing provides an update on its financial performance and business operations for the specified quarter.

Why It Matters

This 10-Q filing provides investors with crucial financial and operational details for Dominari Holdings Inc. during the second quarter of 2024, enabling informed investment decisions.

Risk Assessment

Risk Level: low — This is a standard quarterly filing (10-Q) and does not inherently contain new, high-risk information.

Key Players & Entities

• Dominari Holdings Inc. (company) — Registrant
• AIkido Pharma Inc. (company) — Former company name
• June 30, 2024 (date) — Quarterly period end date
• August 8, 2024 (date) — Filing date
• 725 Fifth Avenue, 22nd Floor, New York, NY 10022 (address) — Company business and mailing address

FAQ

Key Financial Figures

• $0.0001 — ange on which registered Common Stock ($0.0001 par value per share) DOMH The Nasdaq Ca

Filing Documents

• ea0210152-10q_dominari.htm (10-Q) — 709KB
• ea021015201ex31-1_dominari.htm (EX-31.1) — 11KB
• ea021015201ex31-2_dominari.htm (EX-31.2) — 11KB
• ea021015201ex32-1_dominari.htm (EX-32.1) — 4KB
• ea021015201ex32-2_dominari.htm (EX-32.2) — 4KB
• 0001213900-24-066676.txt ( ) — 5054KB
• domh-20240630.xsd (EX-101.SCH) — 58KB
• domh-20240630_cal.xml (EX-101.CAL) — 42KB
• domh-20240630_def.xml (EX-101.DEF) — 236KB
• domh-20240630_lab.xml (EX-101.LAB) — 434KB
• domh-20240630_pre.xml (EX-101.PRE) — 240KB
• ea0210152-10q_dominari_htm.xml (XML) — 660KB

Signatures

Signatures 25 i PART I - FINANCIAL INFORMATION Item 1. Financial Statements DOMINARI HOLDINGS INC. Condensed Consolidated Balance Sheets ($ in thousands except share and per share amounts) (Unaudited) June 30, December 31, 2024 2023 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 5,802 $ 2,833 Marketable securities 6,320 13,547 Deposits with clearing broker 13,365 7,687 Prepaid expenses and other assets 2,314 898 Notes receivable, at fair value - current portion 964 3,177 Total current assets 28,765 28,142 Property and equipment, net 291 344 Notes receivable, at fair value - non-current portion 1,128 1,129 Long Term Equity Investments 15,285 24,150 Right-of-use assets 3,146 3,335 Security deposit 458 458 Total assets $ 49,073 $ 57,558 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued expenses $ 944 $ 1,036 Accrued salaries and benefits 116 51 Accrued commissions 1,954 77 Lease liability - current 429 421 Other current liability 456 22 Total current liabilities 3,899 1,607 Lease liability, less current portion 2,815 3,028 Total liabilities 6,714 4,635 Stockholders' equity Preferred stock, $.0001 par value, 50,000,000 authorized Series D: 5,000,000 shares designated; 3,825 shares issued and outstanding as of June 30, 2024 and December 31, 2023; liquidation value of $ 0.0001 per share - - Series D-1: 5,000,000 shares designated; 834 shares issued and outstanding as of June 30, 2024 and December 31, 2023; liquidation value of $ 0.0001 per share - - Common stock, $ 0.0001 par value, 100,000,000 shares authorized; 6,304,183 and 5,995,065 shares issued as of June 30, 2024 and December 31, 2023 respectively; 6,244,035 and 5,934,917 shares outstanding as of June 30, 2024 and December 31, 2023 respectively; - - Additional paid-in capital 263,184 262,187 Treasury stock, as of cost, 60,148 shares as of

Underwriting

Underwriting services include underwriting and placement agent services in both the equity and debt capital markets, including private equity placements, initial public offerings, follow-on offerings, and underwriting and distributing public and private debt. Underwriting and placement agent revenue are recognized at a point in time on trade-date, as the client obtains the control and benefit of the underwriting offering at that point. Costs associated with underwriting transactions are deferred until the related revenue is recognized or the engagement is otherwise concluded and are recorded on a gross basis within the general and administrative line item in the unaudited condensed consolidated statements of operations as the Company is acting as a principal in the arrangement. Any expenses reimbursed by the Company's clients are recognized as other income. Commissions are earned by executing transactions for clients primarily in equity, equity-related, and debt products. Commission revenue associated with trade execution are recognized at a point in time on trade-date. Commissions revenue are generally paid on settlement date and the Company records receivables to account for timing between trade-date and payment on settlement date. Account advisory fees are earned in connection with investment advisory services. Account advisory fees are recognized over time using the time elapsed method as the Company determined that the customer simultaneously receives and consumes the benefits of investment advisory services as they are provided. Account advisory fees are generally paid in advance of a specified service period (e.g. quarterly) and are initially deferred within in our Condensed Consolidated Balance Sheet. Other revenue includes placement agent services in the equity capital markets for privately held companies distributing private equity. Placement agent revenue are recognized at a point in time on trade-date, as the client obtains the control and benefit

financial statements from the implementation of ASU 2021-08

financial statements from the implementation of ASU 2021-08. In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions , to clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring the fair value of the equity security. ASU 2022-03 also clarifies that an entity cannot recognize and measure a contractual sale restriction as a separate unit of account. The amendments in ASU 2022-03 may be early adopted and are effective on a prospective basis for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. The Company adopted ASU 2022-03 on January 1, 2024. There was no material impact to the Company's unaudited condensed consolidated financial statements from the implementation of ASU 2022-03. 8 In March 2023, the FASB issued ASU 2023-01, Leases , to require entities to classify and account for leases with related parties on the basis of legally enforceable terms and conditions of the arrangement. The amendments are effective in periods beginning after December 15, 2023, including interim periods within those fiscal years. The Company adopted ASU 2023-01 on January 1, 2024. There was no material impact to the Company's unaudited condensed consolidated financial statements from the implementation of ASU 2023-01. Effect of new accounting pronouncements to be adopted in future periods The Company reviewed all other recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact on these unaudited condensed consolidated financial statements. Note 4. Marketable Securities The realized gain or loss, unrealized gain or loss, and dividend income related to marketable securities for the three months ended June 30, 2024 and 2023, which are recorded as a compon

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View this 10-Q filing on SEC EDGAR