v3.25.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2025
Cash Flows from Operating Activities:    
Net income (loss) $ (120,206,947) $ 5,750,293
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Change in fair value, warrant liability derivative   (184,594)
Change in fair value, convertible note derivative 3,585,904 (3,990,385)
Change in fair value, long-term and short-term note derivative 11,208,055 (12,369,120)
Change in fair value, contingent guarantee 3,256,863 839,775
Change in fair value of non-redemption agreement 164,626  
Change in fair value, WDCO sellers convertible notes   (49,348)
Change in fair value, earnout liability 1,335,000 (929,000)
Change in fair value, subscription agreement 38,796 64,298
Change in fair value, stock payable 259,893 (232,793)
Change in fair value, Tau agreement   357,435
Loss on AtlasClear asset acquisition 86,392,769  
Fee on sellers notes   16,340
Interest expense on convertible notes 1,896,714 7,276,092
Transaction costs paid with stock 1,401,937  
Stock based compensation 1,462,650 83,745
Other non-cash (gain) loss   693,552
Depreciation expense 7,565 16,080
Amortization of intangibles 791,375 1,362,446
Bad debt expense 2,474 398,826
Net lease payments 114 (2,432)
Interest earned on marketable securities held in Trust Account (251,569)  
Changes in operating assets and liabilities:    
Marketable securities 6,820  
Receivables from brokers & dealers 2,203,271 (2,846,319)
Receivables from customers (303,486) 104,143
Receivables from others (59,043) 18,981
Advances and Prepaid expenses 133,158 3,222
Cash deposits with clearing organization & other B/Ds 21,664 (750,000)
Other assets 49,041 (255,231)
Payables to customers (5,124,740) 3,772,375
Payables to officers & directors 98,048 (487,491)
Payable to brokers & dealers (12,903) 492,745
Accounts payable and accrued expenses (1,066,430) 1,862,062
Commissions and payroll taxes payable 39,638 121,828
Trading deposits   50
Deferred tax liability (43,484) (315,549)
Net cash provided by (used in) operating activities (11,212,227) 822,027
Cash Flows from Investing Activities:    
Cash withdrawn from Trust Account to pay franchise and income taxes 68,418  
Investment of cash into Trust Account (160,000)  
Cash withdrawn from Trust Account in connection with redemption 53,947,064  
Cash paid for purchase of Pacsquare (500,000) (125,000)
Cash paid for extension of bankcorp agreement   (20,000)
Cash received from acquisition of Wilson-Davis 33,333,876  
Cash withdrawn from Trust Account for working capital purposes 1,195,565  
Cash paid to Wilson Davis shareholders (8,092,568)  
Net cash provided by (used in) investing activities 79,792,355 (145,000)
Cash Flows from Financing Activities:    
Proceeds from stock issuance   1,870,381
Proceeds from secured convertible note 6,000,000  
Transaction costs financed 5,002,968  
Repayment on subordinated debt   (20,000)
Repayment of promissory note   (226,075)
Advances from related party 1,052,300  
Redemption of common stock (53,947,064)  
Net cash provided by (used in) financing activities (41,891,796) 1,624,306
Net Change in Cash 26,688,332 2,301,333
Cash - Beginning 619,554 27,307,886
Cash - Ending 27,307,886 29,609,219
Supplemental disclosure of non-cash investing and financing activities:    
Decrease in goodwill due to change in deferred tax liability   1,564,200
Shares issued under Tau agreement   205,238
Value of shares transferred by related parties to settle obligation   2,412,930
Shares issued to related party for settlement of accounts payable   803,860
Shares issued for commercial bank acquisition extension   43,645
Initial value of derivative included in merger financing   113,044
Shares issued for stock payable   27,100
Promissory note issued under insurance premium   489,381
Prepaid stock based compensation   19,050
Shares issued to settled advances from related party and notes payable related party, net of deemed dividend 4,577,569  
Transaction cost settled with subscription payable 2,386,851  
Fair value of equity treated earnout in AtlasClear, Inc asset acquisition 31,347,000  
Fair value of shares issued in AtlasClear, Inc asset acquisition 44,400,000  
Fair value of liability treated earnout in AtlasClear, Inc asset acquisition 10,963,000  
Fair value of shares transferred to Wilson Davis shareholders 6,000,000  
Short term notes issued to Wilson Davis shareholders 5,000,000  
Long term notes issued to Wilson Davis shareholders 7,971,197  
Initial value of derivative liability on convertible notes 1,668,731  
Fair value of shares transferred to Secured convertible note holders 1,250,698  
Redeemable shares transferred to permanent equity 1,195,566  
Non-redemption agreement re-classed to permanent equity 1,606,279  
Shares issued to purchase Pacsquare 1,226,500  
Shares issued as deposit for Commercial bank acquisition 91,200  
Excise tax related to redemptions 539,471  
Accretion of common stock subject to possible redemption 592,577  
Accounts payable settled with shares 64,376  
Interest settled with shares 210,550  
Interest settled with shares transferred by related party 48,750  
Initial classification of non-redemption agreement liability 1,668,731  
Common stock issued to settled vendor obligations 64,376  
Convertible notes    
Supplemental disclosure of non-cash investing and financing activities:    
Shares issued for conversion on convertible notes   4,575,000
Secured convertible notes    
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Fee on sellers notes 1,500,000  
Supplemental disclosure of non-cash investing and financing activities:    
Shares issued for conversion on convertible notes   509,549
Short-term Merger Financing    
Supplemental disclosure of non-cash investing and financing activities:    
Shares issued for conversion on convertible notes   5,366,979
Merger financing    
Supplemental disclosure of non-cash investing and financing activities:    
Shares issued for conversion on convertible notes   1,695,676
Long-Term Notes    
Supplemental disclosure of non-cash investing and financing activities:    
Shares issued for conversion on convertible notes   7,933,395
Pacsquare    
Supplemental disclosure of non-cash investing and financing activities:    
Shares issued to purchase Pacsquare $ 1,226,500 $ 77,300