Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.8.0.1
Condensed Consolidated Statements of Operations - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenue    
Investment advisory $ 1,314,000  
Other 9,915,000  
Net revenue 55,425,000 $ 44,682,000
Operating expenses    
Cost of goods sold - product revenue 1,472,000 469,000
Research and development 12,000  
Research and development - licenses acquired 97,000 1,294,000
General and administrative 10,784,000 7,985,000
Underwriting costs 145,000 0
Loss from operations 90,911,000 62,259,000
Loss from operations (35,486,000) (17,577,000)
Other income (expenses)    
Interest income 284,000 136,000
Interest expense and financing fee (2,083,000) (698,000)
Change in fair value of derivative liabilities (1,065,000) 4,342,000
Change in fair value of subsidiary convertible note 250,000 (97,000)
Change in fair value of investments (118,000) (668,000)
Total other income (expenses) (2,732,000) 3,015,000
Net loss (38,218,000) (14,562,000)
Less: net loss attributable to non-controlling interests (17,200,000) (2,580,000)
Net loss attributable to common stockholders $ (21,018,000) $ (11,982,000)
Basic and diluted net loss per common share $ (0.49) $ (0.3)
Weighted average common shares outstanding-basic and diluted 42,518,403 40,357,711
Parent Company [Member]    
Revenue    
Product revenue, net $ 5,509,000 $ 2,085,000
Revenue - from a related party 394,000 693,000
Net revenue 5,903,000 2,778,000
Operating expenses    
Cost of goods sold - product revenue 1,472,000 469,000
Research and development 24,958,000 7,110,000
Research and development - licenses acquired 97,000 1,294,000
General and administrative 13,548,000 10,252,000
Loss from operations 40,075,000 19,125,000
National Holdings Corporation [Member]    
Revenue    
Commissions 25,618,000 24,506,000
Net dealer inventory gains 2,190,000 2,511,000
Investment banking 12,704,000 7,061,000
Investment advisory 5,333,000 3,385,000
Interest and dividends 631,000 716,000
Transfer fees and clearing services 2,297,000 2,498,000
Tax preparation and accounting 523,000 856,000
Other 226,000 371,000
Net revenue 49,522,000 41,904,000
Operating expenses    
Commissions, compensation and fees 43,561,000 37,258,000
Clearing fees 743,000 738,000
Communications 760,000 722,000
Occupancy 955,000 1,008,000
Licenses and registration 637,000 405,000
Professional fees 1,393,000 1,263,000
Interest 2,000 4,000
Depreciation and amortization 859,000 506,000
Other administrative expenses 1,781,000 1,230,000
Loss from operations $ 50,836,000 $ 43,134,000