$ENDI

ENDI Corp.

CIK:0001908984|SEC Filings

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Revenues
Total revenues	$ 9,587,523	$ 7,638,511
Cost of Revenues
Total cost of revenues	218,269	103,843
Gross Profit
Total gross profit	9,369,254	7,534,668
Operating Expenses
Compensation and benefits	4,607,530	3,564,026
Stock compensation expenses	200,846	881,755
Amortization and depreciation	381,870	34,505
Computer expenses	207,857	153,204
Fund distribution, custody, and administrative expenses	350,235	268,444
Insurance	127,348	55,298
Professional fees	1,023,929	567,896
Travel and entertainment	253,455	118,354
Transaction expenses		470,329
Other operating expenses	495,737	315,939
Total operating expenses	7,648,807	6,429,750
Income from operations before income taxes	1,720,447	1,104,918
Other Income (Expenses)
W-1 Warrant mark-to-market	112,000	900,000
Note receivable revaluation	334,400
Interest and dividend income	911,471	132,873
Net investment gains	231,478	47,738
Equity method loss	(148,846)
Other income (expenses), net	(17,895)	5,378
Total other income	1,422,608	1,085,989
Income tax (expense) benefit	(613,504)	191,678
Net income	$ 2,529,551	$ 2,382,585
Net (loss) income per share, basic	$ 0.46	$ 0.66
Net (loss) income per share, diluted	$ 0.46	$ 0.66
Weighted average number of shares, basic	5,465,630	3,588,098
Weighted average number of shares, diluted	5,465,630	3,588,098
Crossing Bridge Advisor LLC [Member]
Revenues
Total revenues	$ 8,678,783	$ 7,271,332
Gross Profit
Total gross profit	8,678,783	7,271,332
Willow Oak Asset Management LLC [Member]
Revenues
Total revenues	182,970	61,499
Gross Profit
Total gross profit	182,970	61,499
Internet Operations [Member]
Revenues
Total revenues	725,770	305,680
Cost of Revenues
Total cost of revenues	218,269	103,843
Gross Profit
Total gross profit	$ 507,501	$ 201,837

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 2,529,551	$ 2,382,585
Adjustments to reconcile net income to net cash flows from operating activities:
Note receivable revaluation	(334,400)
Other income from W-1 Warrant mark-to-market	(112,000)	(900,000)
Stock based compensation	200,846	881,755
Amortization and depreciation	381,870	34,505
Deferred tax assets, net	291,883	(191,678)
Equity method loss	148,846
Increase in warrants	(62,400)
Loss on sales of domain names	19,974
(Increase) decrease in:
Accounts receivable	(319,775)	(198,363)
Prepaids	(68,860)	(39,540)
Other current assets	30,557	66,906
Increase (decrease) in:
Accounts payable	(65,450)	50,800
Accrued compensation	(23,342)
Accrued expenses	44,880	(315,022)
Deferred revenue	(9,820)	(46,688)
Income taxes payable	54,250
Other current liabilities	(634)	462
Net cash provided by operating activities	2,705,976	1,725,722
Cash flows from investing activities:
Increase in investments	(1,840,542)	(3,595,599)
Investment in private company	(1,455,266)	(450,000)
Increase in special purpose acquisition company	(250,250)
Collection of note receivable	384,400
Purchase of RiverPark Strategic Income Fund	(199,988)
Investment in limited partnership	(362,660)
Purchase of property and equipment	(108,501)
Sales of domain names	10,200
Cash from Business Combination		15,873,598
Net cash (used in) provided by investing activities	(3,822,607)	11,827,999
Cash flows from financing activities:
Decrease (increase) in due from affiliate	123,823	(123,823)
Earn-outs paid	(714,400)
Distributions paid		(2,809,578)
Issuance of Class A Common Stock		2,174,445
Decrease in due to affiliate		(3,377,291)
Net cash used in financing activities	(590,577)	(4,136,247)
Net (decrease) increase in cash	(1,707,208)	9,417,474
Cash and cash equivalents at beginning of the period - January 1	10,690,398	1,272,924
Cash and cash equivalents at end of the period - December 31	8,983,190	10,690,398
Non-cash and other supplemental information:
Cash paid for interest	1,693
Income taxes paid	250,000
Consulting services received in lieu of cash receipts		$ 19,742

Consolidated Balance Sheets - USD ($)

Dec. 31, 2023

Dec. 31, 2022

Current Assets

Cash and cash equivalents

$ 8,983,190

$ 10,690,398

Investments in securities, at fair value

7,715,075

5,860,688

Accounts receivable, net

1,064,413

744,638

Prepaids

160,333

91,473

Note receivable

50,000

Due from affiliate

123,823

Other current assets

26,889

57,446

Total current assets

17,949,900

17,618,466

Long-term Assets

Goodwill

737,869

Intangible assets, net

3,155,290

1,223,926

Property and equipment, net

106,693

Investments in private companies, at cost

1,455,266

Investment in limited partnership, at net asset value

348,815

^[1]

Investment in private company, equity method

301,154

450,000

Investment in special purpose acquisition company, at cost

250,250

Investment in warrants, at fair market value

62,400

Deferred tax assets, net

1,149,351

1,441,234

Total long-term assets

7,567,088

3,853,029

Total assets

25,516,988

21,471,495

Current Liabilities

Accounts payable

5,856

71,306

Accrued compensation

23,342

Accrued expenses

305,065

260,185

Deferred revenue

147,039

156,859

Income taxes payable

54,250

Earn-out liability, current

732,173

Other current liabilities

476

1,110

Total current liabilities

1,244,859

512,802

Long-term Liabilities

Earn-out liability, net of current portion

695,039

Class W-1 Warrant and redeemable Class B Common Stock

464,000

576,000

Total long-term liabilities

1,159,039

576,000

Total liabilities

2,403,898

1,088,802

Stockholders’ Equity

Preferred stock, $0.0001 par value, 2,000,000 shares authorized; none issued and outstanding

Class A common stock, $0.0001 par value, 14,000,000 shares authorized; 5,452,383 shares issued and outstanding

545

Additional paid-in capital

20,418,318

20,217,472

Retained earnings

2,694,227

164,676

Total stockholders’ equity

23,113,090

20,382,693

Total liabilities and stockholders’ equity

$ 25,516,988

$ 21,471,495

[1]

Certain investments that are measured at fair value using the NAV per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheets.