Investors

Balance Sheet

LADENBURG THALMANN FINANCIAL SERVICES INC.
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(in thousands, except share and per share amounts)
                 
    September 30,     December 31,  
    2009     2008  
    (Unaudited)          
ASSETS
               
 
                
Cash and cash equivalents
   $ 5,624     $ 6,621  
Securities owned at fair value
     2,281       4,828  
Receivables from clearing brokers
     12,609       14,558  
Receivables from other broker-dealers
     151       —  
Other receivables, net
     5,418       3,960  
Investment in fund manager
     267       318  
Furniture, equipment and leasehold improvements, net
     3,375       3,714  
Restricted assets
     375       701  
Intangible assets, net
     29,266       31,625  
Goodwill
     29,739       29,739  
Unamortized debt issue cost
     1,950       2,400  
Other assets
     4,341       3,204  
 
            
 
                
Total assets
   $ 95,396     $ 101,668  
 
            
 
                
LIABILITIES AND SHAREHOLDERS’ EQUITY
               
 
                
Securities sold, but not yet purchased, at market value
   $ 38     $ 91  
Accrued compensation
     5,696       3,661  
Commissions and fees payable
     5,769       5,005  
Accounts payable and accrued liabilities
     5,741       5,851  
Deferred rent
     3,529       3,863  
Deferred income taxes
     1,326       780  
Accrued interest
     207       193  
Notes payable
     34,035       30,934  
 
            
 
                
Total liabilities
   $ 56,341     $ 50,378  
 
            
 
                
Commitments and contingencies (Note 9)
                
Shareholders’ equity:
                
Preferred stock, $.0001 par value; 2,000,000 shares authorized; none issued
     —       —  
Common stock, $.0001 par value; 400,000,000 shares authorized; shares issued and outstanding, 167,868,774 in 2009 and 171,715,514 in 2008
     17       17  
Additional paid-in capital
     169,064       166,172  
Accumulated deficit
     (130,026 )     (114,899 )
 
            
 
                
Total shareholders’ equity
     39,055       51,290  
 
            
 
                
Total liabilities and shareholders’ equity
   $ 95,396     $ 101,668  
 
            

LADENBURG THALMANN FINANCIAL SERVICES INC.
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Dollars in thousands, except share and per share amounts)
 
                 
    December 31,  
    2009     2008  
 
ASSETS
Cash and cash equivalents
  $ 5,702     $ 6,621  
Securities owned, at fair value
    2,209       4,828  
Receivables from clearing brokers
    13,406       14,558  
Receivables from other broker-dealers
    329       —  
Other receivables, net
    6,203       4,423  
Furniture, equipment and leasehold improvements, net
    3,154       3,714  
Restricted assets
    350       701  
Intangible assets, net
    28,509       31,625  
Goodwill
    29,739       29,739  
Unamortized debt issue cost
    1,879       2,400  
Other assets
    3,157       3,059  
                 
Total assets
  $ 94,637     $ 101,668  
                 
 
LIABILITIES AND SHAREHOLDERS’ EQUITY
Securities sold, but not yet purchased, at fair value
  $ 9     $ 91  
Accrued compensation
    4,299       3,661  
Commissions and fees payable
    5,957       5,203  
Accounts payable and accrued liabilities
    5,671       5,653  
Deferred rent
    3,378       3,863  
Deferred income taxes
    1,726       780  
Accrued interest
    365       193  
Notes payable
    35,438       30,934  
                 
Total liabilities
    56,843       50,378  
                 
Commitments and contingencies (Notes 3 and 11)
               
Shareholders’ equity:
               
Preferred stock, $.0001 par value; 2,000,000 shares authorized; none issued
    —       —  
Common stock, $.0001 par value; 400,000,000 shares authorized; shares issued and outstanding, 167,907,038 in 2009 and 171,715,514 in 2008
    17       17  
Additional paid-in capital
    171,349       166,172  
Accumulated deficit
    (133,572 )     (114,899 )
                 
Total shareholders’ equity
    37,794       51,290  
                 
Total liabilities and shareholders’ equity
  $ 94,637     $ 101,668  
                 


               
    December 31,  
    2009     2008  
 
ASSETS
Cash and cash equivalents
   $ 5,702     $ 6,621  
Securities owned, at fair value
     2,209       4,828  
Receivables from clearing brokers
     13,406       14,558  
Receivables from other broker-dealers
     329       —  
Other receivables, net
     6,203       4,423  
Furniture, equipment and leasehold improvements, net
     3,154       3,714  
Restricted assets
     350       701  
Intangible assets, net
     28,509       31,625  
Goodwill
     29,739       29,739  
Unamortized debt issue cost
     1,879       2,400  
Other assets
     3,157       3,059  
                 
Total assets
   $ 94,637     $ 101,668  
                 
 
LIABILITIES AND SHAREHOLDERS’ EQUITY
Securities sold, but not yet purchased, at fair value
   $ 9     $ 91  
Accrued compensation
     4,299       3,661  
Commissions and fees payable
     5,957       5,203  
Accounts payable and accrued liabilities
     5,671       5,653  
Deferred rent
     3,378       3,863  
Deferred income taxes
     1,726       780  
Accrued interest
     365       193  
Notes payable
     35,438       30,934  
                 
Total liabilities
     56,843       50,378  
                 
Commitments and contingencies (Notes 3 and 11)
                
Shareholders’ equity:
                
Preferred stock, $.0001 par value; 2,000,000 shares authorized; none issued
     —       —  
Common stock, $.0001 par value; 400,000,000 shares authorized; shares issued and outstanding, 167,907,038 in 2009 and 171,715,514 in 2008
     17       17  
Additional paid-in capital
     171,349       166,172  
Accumulated deficit
     (133,572 )     (114,899 )
                 
Total shareholders’ equity
     37,794       51,290  
                 
Total liabilities and shareholders’ equity
   $ 94,637     $ 101,668