v3.25.3
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS - Transition Period Comparative Data - Consolidated Balance Sheets (Details) - USD ($)
Jun. 30, 2025
Feb. 09, 2025
Jun. 30, 2024
Feb. 09, 2024
Dec. 31, 2023
Jun. 30, 2023
Current assets            
Cash and cash equivalents $ 7,533,690   $ 6,558,176     $ 1,132,900
Cash segregated - customers 21,874,954   20,548,972      
Cash segregated - PAB 200,575   200,738      
Receivables - broker-dealers and clearing organizations 4,179,625   1,333,306      
Receivables - customers, net 320,815   823,784      
Other receivables 251,099   64,842      
Prepaid expenses     67,967     29,458
Trading securities, market value, net 5   55      
Due from Atlas Clear           49,806
Total Current Assets 34,933,938   29,597,840     1,212,164
Operating lease right to use lease asset 179,267 $ 179,267 326,336 $ 395,063    
Property and equipment, net     16,080      
Customer list, net     14,150,856      
Goodwill 6,142,525   7,706,725      
Pacsquare asset purchase     1,726,500      
Bank acquisition deposit     91,200      
Cash deposits - broker-dealers and clearing organizations     3,515,000      
Other assets 591,248   336,017      
Marketable securities held in Trust Account           57,409,747
TOTAL ASSETS 60,892,833   57,466,554     58,621,911
Current liabilities            
Payables to customers 23,935,348   20,162,973      
Accounts and payables to officers/directors 199,088   686,579      
Accounts payable and accrued expenses 6,194,311   5,393,912     5,181,488
Payables - broker-dealers and clearing organizations 497,660   4,915      
Commissions, payroll and payroll taxes 395,214   273,386      
Current portion of lease liability 111,983   149,499      
Convertible notes, net     3,783,437      
Secured convertible note, net     6,857,101      
Promissory notes 1,207,797   852,968      
Short-term merger financing, net     5,092,083      
Contingent guarantee     3,256,863     3,256,863
Subscription agreement 2,489,945   2,425,647      
Excise tax payable 2,611,618   2,067,572     1,485,236
Advance from related parties           1,968,116
Total Current Liabilities 41,003,400   51,321,915     9,114,840
Accrued contingent liability 100,000   100,000      
Long-term merger financing, net     7,606,561      
Derivative liability - convertible notes     16,462,690      
Derivative liability - warrants 123,062   307,656     307,656
Earnout - liability 11,369,000   12,298,000      
Deferred income tax liability     5,245,886      
Subordinated borrowings 1,930,000   1,950,000      
Trading account deposit 100,000   100,000      
Long-term lease liability 70,746   182,729      
TOTAL LIABILITIES 67,690,281   95,575,437     9,422,496
Commitments and Contingencies      
Common stock subject to possible redemption           57,113,761
Stockholders' Deficit            
Preferred stock, $0.0001 par value;      
Common stock, value 4,016   21     503
Additional paid-in capital 135,763,445   110,165,209      
Accumulated deficit (142,523,820)   (148,274,113)     (7,914,849)
TOTAL STOCKHOLDERS' DEFICIT (6,797,448)   (38,108,883)   $ (11,512,876) (7,914,346)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 60,892,833   57,466,554     58,621,911
Nonrelated Party            
Current liabilities            
Stock payable     259,893      
Related Party            
Current liabilities            
Stock payable     $ 55,087      
Promissory notes           $ 480,000