Quarterly report pursuant to sections 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

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CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (USD $)
In Thousands
Sep. 30, 2011
Dec. 31, 2010
ASSETS    
Cash and cash equivalents $ 10,627 $ 6,927
Securities owned at fair value 1,584 2,662
Receivables from clearing broker. 18,750 18,073
Receivables from other broker-dealers 380 1,364
Other receivables, net 8,027 9,162
Furniture, equipment and leasehold improvements, net 2,293 2,805
Restricted assets 150 200
Intangible assets, net 24,531 26,431
Goodwill 29,708 29,719
Unamortized debt issue cost 1,787 1,597
Other assets 2,955 2,885
Total assets 100,792 101,825
LIABILITIES AND SHAREHOLDERS' EQUITY    
Securities sold, but not yet purchased, at fair value 10 10
Accrued compensation 6,615 5,328
Commissions and fees payable 6,526 9,264
Accounts payable and accrued liabilities 5,450 6,751
Deferred rent 2,491 2,928
Deferred income taxes 3,054 2,418
Accrued interest 242 328
Notes payable 30,051 27,879
Total liabilities 54,439 54,906
Commitments and contingencies (Note 6)    
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, 182,946,965 in 2011 and 183,496,492 in 2010 18 18
Additional paid-in capital 193,319 191,424
Accumulated deficit (146,984) (144,523)
Total shareholders' equity 46,353 46,919
Total liabilities and shareholders' equity $ 100,792 $ 101,825