Annual report pursuant to section 13 and 15(d)

Notes Payable (Tables)

v2.4.0.8
Notes Payable (Tables)
 12 Months Ended
Dec. 31, 2013
Debt Disclosure [Abstract]  
Schedule of Notes Payable
Notes payable consisted of the following:
 
December 31,
2013
 
December 31,
2012
Note payable under revolving credit agreement with principal shareholder
$
—

 
$
25,500

Notes payable to clearing firm under forgivable loans
14,285

 
18,214

Note payable to a subsidiary of Premier Trust’s former shareholder
450

 
685

Notes payable to finance Securities America acquisition, net of $1,618 and $7,120 of unamortized discount in 2013 and 2012, respectively
48,232

 
153,580

Note payable under term loan with bank
1,681

 
—

Total
$
64,648

 
$
197,979

Schedule For Black Scholes Pricing Assumption For Warrant Valuation
The warrants were valued at $9,428 utilizing the Black-Scholes option pricing model using the following inputs:

 
 
Dividend yield
—
%
Expected volatility
62.19
%
Risk-free interest rate
0.88
%
Expected life (in years)
5