Form 10-Q - Quarterly report [Sections 13 or 15(d)]

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark one)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2024

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____________ to ____________

Commission File Number: 001-41845

DOMINARI HOLDINGS INC.

(Exact name of registrant as specified in its charter)

Delaware		52-0849320
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

725 5^th Avenue, 22^nd Floor, New York, NY 10022

(Address of principal executive offices and Zip Code)

(212) 393-4540

(Registrant’s telephone number, including area code)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock ($0.0001 par value per share)		DOMH		The Nasdaq Capital Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☒
Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of August 5, 2024, there were 6,336,286 shares of the Company’s common stock issued and 6,276,138 shares outstanding.

DOMINARI HOLDINGS INC.

FORM 10-Q

FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2024

TABLE OF CONTENTS

		Page

Part I - Financial Information

Item 1.	Financial Statements (Unaudited)	1

	Condensed Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023	1

	Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 (Unaudited)	2

	Condensed Consolidated Statements of Changes in Redeemable Convertible Preferred Stock and Stockholders’ Equity for the three and six months ended June 30, 2024 and 2023 (Unaudited)	3

	Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 (Unaudited)	5

	Notes to the Condensed Consolidated Financial Statements (Unaudited)	6

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	19

Item 4.	Controls and Procedures	22

Part II - Other Information

Item 1.	Legal Proceedings	23

Item 1A.	Risk Factors	23

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	23

Item 3.	Defaults Upon Senior Securities	23

Item 4.	Mine Safety Disclosures	23

Item 5.	Other Information	23

Item 6.	Exhibits	24

Signatures		25

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

DOMINARI HOLDINGS INC.

Condensed Consolidated Balance Sheets

($ in thousands except share and per share amounts)

(Unaudited)

	June 30,			December 31,
	2024			2023
	(Unaudited)
ASSETS
Current assets
Cash and cash equivalents	$	5,802		$	2,833
Marketable securities		6,320			13,547
Deposits with clearing broker		13,365			7,687
Prepaid expenses and other assets		2,314			898
Notes receivable, at fair value - current portion		964			3,177
Total current assets		28,765			28,142

Property and equipment, net		291			344
Notes receivable, at fair value - non-current portion		1,128			1,129
Long Term Equity Investments		15,285			24,150
Right-of-use assets		3,146			3,335
Security deposit		458			458
Total assets	$	49,073		$	57,558

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable and accrued expenses	$	944		$	1,036
Accrued salaries and benefits		116			51
Accrued commissions		1,954			77
Lease liability - current		429			421
Other current liability		456			22
Total current liabilities		3,899			1,607

Lease liability, less current portion		2,815			3,028
Total liabilities		6,714			4,635

Stockholders’ equity
Preferred stock, $.0001 par value, 50,000,000 authorized
Series D: 5,000,000 shares designated; 3,825 shares issued and outstanding as of June 30, 2024 and December 31, 2023; liquidation value of $0.0001 per share		-			-
Series D-1: 5,000,000 shares designated; 834 shares issued and outstanding as of June 30, 2024 and December 31, 2023; liquidation value of $0.0001 per share		-			-
Common stock, $0.0001 par value, 100,000,000 shares authorized; 6,304,183 and 5,995,065 shares issued as of June 30, 2024 and December 31, 2023 respectively; 6,244,035 and 5,934,917 shares outstanding as of June 30, 2024 and December 31, 2023 respectively;		-			-
Additional paid-in capital		263,184			262,187
Treasury stock, as of cost, 60,148 shares as of June 30, 2024 and December 31, 2023		(501	)		(501	)
Accumulated deficit		(220,324	)		(208,763	)
Total stockholders’ equity		42,359			52,923
Total liabilities and stockholders’ equity	$	49,073		$	57,558

See accompanying notes to unaudited condensed consolidated financial statements.

DOMINARI HOLDINGS INC.

Condensed Consolidated Statements of Operations

($ in thousands except share and per share amounts)

(Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Revenues	$	6,174		$	71		$	7,541		$	71

Operating costs and expenses
General and administrative	$	8,910		$	9,080		$	13,082		$	12,913
Research and development		-			2			-			3
Total operating expenses		8,910			9,082			13,081			12,916
Loss from operations		(2,736	)		(9,011	)		(5,541	)		(12,845	)

Other income (expenses)
Interest income		285			160			449			297
Gain on marketable securities, net		104			400			678			335
Realized and unrealized loss on note receivable, net		(742	)		(212	)		(1,657	)		(212	)
Change in fair value of investments		(3,031	)		-			(5,490	)		-
Total other (expenses) income		(3,384	)		348			(6,020	)		420
Net loss	$	(6,120	)	$	(8,663	)	$	(11,561	)	$	(12,425	)

Net loss per share, basic and diluted
Basic and Diluted	$	(1.01	)	$	(1.79	)	$	(1.92	)	$	(2.45	)

Weighted average number of shares outstanding, basic and diluted
Basic and Diluted		6,063,003			4,827,239			6,029,034			5,065,055

See accompanying notes to unaudited condensed consolidated financial statements.

DOMINARI HOLDINGS INC.

Condensed Consolidated Statements of Changes in Redeemable Convertible Preferred Stock and Stockholders’ Equity

($ in thousands except share and per share amounts)

(Unaudited)

For the Three Months Ended June 30, 2024 and 2023

	Preferred Stock				Common Stock				Additional Paid-in		Treasury Stock					Accumulated			Total Stockholders’
	Shares		Amount		Shares		Amount		Capital		Shares		Amount			Deficit			Equity
Balance at March 31, 2024		4,659	$	-		5,995,065	$	-	$	262,374		60,148	$	(501	)	$	(214,204	)	$	47,669
Stock-based compensation		-		-		309,118		-		810		-		-			-			810
Net loss		-		-		-		-		-		-		-			(6,120	)		(6,120	)
Balance at June 30, 2024		4,659	$	-		6,304,183	$	-	$	263,184		60,148	$	(501	)	$	(220,324	)	$	42,359

	Preferred Stock				Common Stock				Additional Paid-in		Treasury Stock					Accumulated			Total Stockholders’
	Shares		Amount		Shares		Amount		Capital		Shares		Amount			Deficit			Equity
Balance at March 31, 2023		4,659	$	-		4,815,597	$	-	$	259,215		60,148	$	(501	)	$	(189,643	)	$	69,071
Stock-based compensation		-		-		529,715		-		1,370		-		-			-			1,370
Net loss		-		-		-		-		-		-		-			(8,663	)		(8,663	)
Balance at June 30, 2023		4,659	$	-		5,345,312	$	-	$	260,585		60,148	$	(501	)	$	(198,306	)	$	61,778

See accompanying notes to unaudited condensed consolidated financial statements

For the Six Months Ended June 30, 2024 and 2023

	Preferred Stock				Common Stock				Additional Paid-in		Treasury Stock					Accumulated			Total Stockholders’
	Shares		Amount		Shares		Amount		Capital		Shares		Amount			Deficit			Equity
Balance at December 31, 2023		4,659	$	-		5,995,065	$	-	$	262,187		60,148	$	(501	)	$	(208,763	)	$	52,923
Stock-based compensation		-		-		309,118		-		997		-		-			-			997
Net loss		-		-		-		-		-		-		-			(11,561	)		(11,561	)
Balance at June 30, 2024		4,659	$	-		6,304,183	$	-	$	263,184		60,148	$	(501	)	$	(220,324	)	$	42,359

	Preferred Stock				Common Stock					Additional Paid-in			Treasury Stock						Accumulated			Total Stockholders’
	Shares		Amount		Shares			Amount		Capital			Shares			Amount			Deficit			Equity
Balance at December 31, 2022		4,659	$	-		5,485,096		$	-	$	262,970			468,017		$	(3,322	)	$	(185,881	)	$	73,767
Stock-based compensation		-		-		529,715			-		1,375			-			-			-			1,375
Cancellation of common stock		-		-		(25,000	)		-		-			-			-			-			-
Purchase of treasury stock		-		-		-			-		-			236,630			(939	)		-			(939	)
Retirement of treasury stock		-		-		(644,499	)		-		(3,760	)		(644,499	)		3,760			-			-
Net loss		-		-		-			-		-			-			-			(12,425	)		(12,425	)
Balance at June 30, 2023		4,659	$	-		5,345,312		$	-	$	260,585			60,148		$	(501	)	$	(198,306	)	$	61,778

See accompanying notes to unaudited condensed consolidated financial statements.

DOMINARI HOLDINGS INC.

Condensed Consolidated Statements of Cash Flows

($ in thousands)

(Unaudited)

	Six Months Ended June 30,
	2024			2023
Cash flows from operating activities
Net loss	$	(11,561	)	$	(12,425	)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of right-of-use assets		189			182
Depreciation		52			32
Change in fair value of long-term investment		5,490			-
Stock-based compensation		997			2,675
Realized (gain) loss on marketable securities		(3,330	)		487
Unrealized (gain) loss on marketable securities		2,940			(514	)
Unrealized loss on note receivable		1,657			212
Changes in operating assets and liabilities:
Prepaid expenses and other assets		(78	)		(229	)
Prepaid acquisition cost		-			301
Clearing broker deposits		(5,678	)		(3,532	)
Accounts payable and accrued expenses		(92	)		(428	)
Accrued salaries and benefits		65			(628	)
Accrued commissions		1,877			(8	)
Lease liabilities		(205	)		58
Other current liabilities		434			3
Notes receivable, at fair value – net interest accrued		58			(99	)
Net cash used in operating activities		(7,185	)		(13,913	)

Cash flows from investing activities
Purchase of marketable securities		(3,963	)		(34,014	)
Sale of marketable securities		11,580			20,494
Purchase of fixed assets		-			(419	)
Acquisition of FPS, net of cash acquired and receivable owed from FPS		-			(1,112	)
Collection of principal on note receivable		500			502
Loans to employees		(1,340	)		(100	)
Purchase of short-term and long-term investments		(125	)		(75	)
Redemption of long-term investments		3,500			-
Collection of loans to employees		2			-
Net cash provided by (used in) investing activities		10,154			(14,724	)

Cash flows from financing activities
Purchase of treasury stock		-			(939	)
Net cash used in financing activities		-			(939	)

Net increase (decrease) in cash and cash equivalents and restricted cash		2,969			(29,576	)
Cash and cash equivalents, beginning of period		2,833			33,174

Cash and cash equivalents, end of period	$	5,802		$	3,598

See accompanying notes to unaudited condensed consolidated financial statements.

DOMINARI HOLDINGS INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Note 1. Organization and Description of Business and Recent Developments

Organization and Description of Business

Dominari Holdings Inc. (the “Company”), formerly AIkido Pharma, Inc., was founded in 1967 as Spherix Incorporated. Since 2017, the Company has operated as a biotechnology company with a diverse portfolio of small-molecule anticancer and antiviral therapeutics and their related patent technology. The Company is in the process of winding down its historical pipeline of biotechnology assets held by Aikido Labs, LLC. In an effort to enhance shareholder value, in June of 2022, the Company formed a wholly owned financial services subsidiary, Dominari Financial Inc. (“Dominari Financial”), with the intent of shifting the Company’s primary operating focus away from biotechnology to the fintech and financial services industries. Through Dominari Financial, the Company acquired Dominari Securities LLC (“Dominari Securities”), an introducing broker-dealer, registered with the Financial Industry Regulatory Authority (“FINRA”) and an investment adviser registered with the Securities and Exchange Commission (“SEC”). Dominari Securities provides investment advisory services and annuity and insurance products of certain insurance carriers as an insurance agency through independent and affiliated brokers.

On September 9, 2022, Dominari Financial entered into a membership interest purchase agreement, as amended and restated on March 27, 2023 (the “FPS Purchase Agreement”) with Fieldpoint Private Bank & Trust (“Seller”), a Connecticut bank, for the purchase of its wholly owned subsidiary, Fieldpoint Private Securities, LLC, a Connecticut limited liability company (“FPS”), that is a broker-dealer registered with the Financial Industry Regulatory Authority (“FINRA”) and an investment adviser registered with the SEC. Pursuant to the terms of the FPS Purchase Agreement, Dominari Financial purchased from the Seller 100% of the membership interests in FPS (the “Membership Interests”). FPS’s registered broker-dealer and investment adviser businesses will be operated as a wholly owned subsidiary of Dominari Financial. The FPS Purchase Agreement provides for Dominari Financial’s acquisition of FPS’s Membership Interests in two closings, the first of which occurred on October 4, 2022 (the “Initial Closing”), at which Dominari Financial paid to the Seller $2.0 million in consideration for a transfer by the Seller to Dominari Financial 20% of the FPS Membership Interests. Following the Initial Closing, FPS filed a continuing membership application requesting approval for a change of ownership, control, or business operations with FINRA in accordance with FINRA Rule 1017 (the “Rule 1017 Application”). The Rule 1017 Application was approved by FINRA on March 20, 2023. The second closing occurred on March 27, 2023. Dominari Financial paid to the Seller an additional $1.4 million in consideration for a transfer by the Seller to Dominari Financial of the remaining 80% of the Membership Interests. As a result of the ownership change, FPS was renamed Dominari Securities LLC.

On October 13, 2023, the Company entered into two separate Limited Liability Agreements with Dominari Manager LLC (“Manager”) and Dominari IM LLC (“Investment Manager”) which are both wholly owned subsidiaries and whose operations are included within the consolidated condensed FS of Dominari Holdings Inc. Manager was named as the manager of Dominari Master SPV LLC (the “Master SPV”), a limited liability company formed by the Company in 2022, and is responsible for the day-to-day operations of the Master SPV. Dominari IM LLC (“Investment Manager”) was named the investment manager of Master SPV and is responsible for providing investment advice and decisions on behalf of the Master SPV. On various dates from March 2024 through July 2024, the Manager established various series of funds (the “Series”) of the Master SPV for the purpose of making investments in companies identified by the Investment Manager with proceeds generated by the sale of non-voting interests in such Series by the Master SPV to investors.

On May 21, 2024, Dominari Financial and Heritage Strategies LLC (“HS”) entered into a Limited Liability Company Operating Agreement (the “JV Agreement”) of Dominari Financial Heritage Strategies LLC (“DFHS”). The JV Agreement governs the operation of DFHS, including the distributions to the members of DFHS upon the offer, sale and renewal of various insurance products and services, including life insurance, private placement insurance, group medical plans, qualified plans, business insurance, and family office and estate planning services. Pursuant to the terms of the JV Agreement, Dominari Financial and HS are the co-managing members (the “Co-Managing Members”), each with fifty percent (50%) ownership interests in DFHS. Revenues from the sale of the various insurance products and services after deducting general and administrative costs are distributed to the Co-Managing Members as set forth in the JV Agreement.

Note 2. Liquidity and Capital Resources

The Company continues to incur ongoing administrative and other expenses, including public company expenses, in excess of corresponding (non-financing related) revenue. While the Company continues to implement its business strategy, it intends to finance its activities through managing current cash on hand from the Company’s past equity offerings.

Based upon projected cash flow requirements, the Company has adequate cash and cash equivalents and marketable securities to fund its operations for at least the next twelve months from the date of the issuance of these unaudited condensed consolidated financial statements.

Note 3. Summary of Significant Accounting Policies

There have been no material changes in the Company’s significant accounting policies from those previously disclosed in the 2023 Annual Report.

Basis of Presentation and Principles of Consolidation

The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), and in conformity with the rules and regulations of the SEC. In the opinion of management, these financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the results of the interim periods presented. The condensed consolidated balance sheet as of June 30, 2024, condensed consolidated statements of operations for the three months and six months ended June 30, 2024 and 2023, condensed consolidated statements of stockholders’ equity for the three months and six months ended June 30, 2024 and 2023, and the condensed consolidated statements of cash flows for the six months ended June 30, 2024 and 2023 are unaudited, but include all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. The results for the three months ended June 30, 2024 are not necessarily indicative of results to be expected for the year ending December 31, 2024 or for any future interim period. The condensed consolidated balance sheet as of December 31, 2023 has been derived from audited financial statements; however, it does not include all of the information and notes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2023.

The Company’s policy is to consolidate all entities that it controls by ownership of a majority of the membership interest or outstanding voting stock. The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Aikido Labs, Dominari Financial, and Dominari Securities. All significant intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates

The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. GAAP. This requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements, and the reported amounts of revenue and expenses during the period. The Company’s significant estimates and assumptions include stock-based compensation, the valuation of investments, the valuation of notes receivable and the valuation allowance related to the Company’s deferred tax assets. Certain of the Company’s estimates could be affected by external conditions, including those unique to the Company and general economic conditions. It is reasonably possible that these external factors could have an effect on the Company’s estimates and could cause actual results to differ from those estimates and assumptions.

Deposits with clearing broker

Deposits with Dominari Securities’ clearing broker consisted of approximately $13.4 million held in money market funds and liquid insured deposits maintained by the Company with its clearing broker as of June 30, 2024.

Leases

The Company accounts for its leases under ASC 842, Leases (“ASC 842”). Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded on the unaudited condensed consolidated balance sheet as both a right-of-use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the right-of-use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right-of-use asset result in straight-line rent expense over the lease term. For finance leases, interest on the lease liability and the amortization of the right-of-use asset results in front-loaded expense over the lease term. Variable lease expenses are recorded when incurred (see Note 8 - Leases).

Revenue

The Company recognizes revenue under ASC 606 - Revenue from Contracts with Customers (“ASC 606”). Revenue is recognized when control of the promised goods or performance obligations for services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for the goods or services.

The following provides detailed information on the recognition of the Company’s revenue from contracts with customers:

●

Underwriting services include underwriting and placement agent services in both the equity and debt capital markets, including private equity placements, initial public offerings, follow-on offerings, and underwriting and distributing public and private debt. Underwriting and placement agent revenue are recognized at a point in time on trade-date, as the client obtains the control and benefit of the underwriting offering at that point. Costs associated with underwriting transactions are deferred until the related revenue is recognized or the engagement is otherwise concluded and are recorded on a gross basis within the general and administrative line item in the unaudited condensed consolidated statements of operations as the Company is acting as a principal in the arrangement. Any expenses reimbursed by the Company’s clients are recognized as other income.

●

Commissions are earned by executing transactions for clients primarily in equity, equity-related, and debt products. Commission revenue associated with trade execution are recognized at a point in time on trade-date. Commissions revenue are generally paid on settlement date and the Company records receivables to account for timing between trade-date and payment on settlement date.

●

Account advisory fees are earned in connection with investment advisory services. Account advisory fees are recognized over time using the time elapsed method as the Company determined that the customer simultaneously receives and consumes the benefits of investment advisory services as they are provided. Account advisory fees are generally paid in advance of a specified service period (e.g. quarterly) and are initially deferred within in our Condensed Consolidated Balance Sheet.

●

Other revenue includes placement agent services in the equity capital markets for privately held companies distributing private equity. Placement agent revenue are recognized at a point in time on trade-date, as the client obtains the control and benefit of the membership interest offering at that point.

Long-term equity investments

The Company accounts for long-term equity investments under Accounting Standards Codification (“ASC”) 321 “Investments—Equity Securities” (“ASC 321”). In accordance with ASC 321, equity securities with readily determinable fair values are accounted for at fair value based on quoted market prices. Equity securities without readily determinable fair values are accounted for either at fair value or using the measurement alternative. Under the measurement alternative, the equity investments are measured at cost, less any impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the Company.

Recently adopted accounting standards

In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805) Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”). This update amends Topic 805 to add contract assets and contract liabilities to the list of exceptions to the recognition and measurement principles that apply to business combinations and to require that an entity (acquirer) recognize and measure contract assets and contract liabilities in accordance with ASC 606. The Company adopted ASU 2021-08 on January 1, 2023. There was no material impact to the Company’s unaudited condensed consolidated financial statements from the implementation of ASU 2021-08.

In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, to clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring the fair value of the equity security. ASU 2022-03 also clarifies that an entity cannot recognize and measure a contractual sale restriction as a separate unit of account. The amendments in ASU 2022-03 may be early adopted and are effective on a prospective basis for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. The Company adopted ASU 2022-03 on January 1, 2024. There was no material impact to the Company’s unaudited condensed consolidated financial statements from the implementation of ASU 2022-03.

In March 2023, the FASB issued ASU 2023-01, Leases, to require entities to classify and account for leases with related parties on the basis of legally enforceable terms and conditions of the arrangement. The amendments are effective in periods beginning after December 15, 2023, including interim periods within those fiscal years. The Company adopted ASU 2023-01 on January 1, 2024. There was no material impact to the Company’s unaudited condensed consolidated financial statements from the implementation of ASU 2023-01.

Effect of new accounting pronouncements to be adopted in future periods

The Company reviewed all other recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact on these unaudited condensed consolidated financial statements.

Note 4. Marketable Securities

The realized gain or loss, unrealized gain or loss, and dividend income related to marketable securities for the three months ended June 30, 2024 and 2023, which are recorded as a component of gains and (losses) on marketable securities on the unaudited condensed consolidated statements of operations, are as follows ($ in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Realized gain (loss)	$	2,360		$	(432	)	$	3,330		$	(487	)
Unrealized gain (loss)		(2,353	)		643			(2,940	)		514
Dividend income		97			189			288			308
Total	$	104		$	400		$	678		$	335

Note 5. Long-Term Equity Investments

The Company holds interests in several privately held and publicly traded companies as long-term investments. The following table presents the Company’s long-term investments as of June 30, 2024, and December 31, 2023 ($ in thousands):

	Cost Basis as of December 31, 2023		December 31, 2023		Cost Basis as of June 30, 2024		June 30, 2024
Investment in Kerna Health Inc	$	2,140	$	4,940	$	2,140	$	4,940
Investment in Kaya Now		1,500		-		1,500		-
Investment in Tevva Motors*		1,972		2,794		1,972		-
Investment in ASP Isotopes		1,300		-		1,300		-
Investment in Unusual Machines		1,075		1,033		1,075		302
Investment in Qxpress*		1,000		1,000		1,000		1,000
Investment in Masterclass*		170		170		170		170
Investment in Kraken*		597		597		597		597
Investment in Epic Games*		3,500		3,500		3,500		2,627
Investment in Tesspay**		1,240		2,679		1,240		3,351
Investment in SpaceX*		3,500		4,867		-		-
Investment in Databricks*		1,200		842		1,200		842
Investment in Discord		476		476		476		476
Investment in Thrasio		300		300		300		-
Investment in Automation Anywhere		476		476		476		476
Investment in XAI*		-		-		100		100
Investment in Cerebras*		-		-		25		25
Investment in Anduril*		476		476		476		379
Total	$	20,922	$	24,150	$	17,547	$	15,285

Investments made in these companies are through a Special Purpose Vehicle (“SPV”). The SPV is the holder of the actual stock. The Company does not hold these stock certificates directly.

Investments made in these companies are through both an SPV and direct investments.

The Company recorded unrealized losses on long term investments of approximately $3.0 million for the three month period ended June 30, 2024 and unrealized losses on long term investments of approximately $5.5 million for the six month period ended June 30, 2024.

Investment in SpaceX

The Company’s investment in SpaceX was marked down to cost for the three month period ended March 31, 2024 which resulted in a unrealized loss of $1.4 million. In April, the Company redeemed 36,842 shares of participating membership units of SpaceX for $3.5 million.

Investment in xAI

On May 2, 2024, the Company entered into an agreement (the “xAI Agreement”) with Series VI xAI Units of Dominari Master SPV LLC. Under the xAI Agreement, the Company agreed to purchase 100,000 Series XI xAI Units for $0.1 million.

Investment in Cerebras

On June 17, 2024, the Company entered into an agreement (the “Cerebras Agreement”) with Series XI Cerebras Units of Dominari Master SPV LLC, Under the xAI Agreement, the Company agreed to purchase 25,000 Series XI Cerebras Units for $25,000.

Investment in Unusual Machines

Unusual Machines, Inc, an emerging leader in first-person view (FPV) drone technology, closed its initial public offering of common stock on February 14, 2024 at a public offering price of $4 per share and the shares began trading on the NYSE American under the ticker symbol “UMAC”. As of June 30, 2024 the Company valued its investment in Unusual Machines based on UMAC’s market price of $1.30.

Investment in Tevva Motors

On September 22, 2021, the Company entered into a securities purchase agreement (the “Tevva Motors Subscription Agreement”) with Big Sky Opportunities Fund, LLC, who handled the offering for Tevva Motors. As of December 31, 2023 the investment was valued at $2.8 million. During the second quarter of 2024, the Company identified indicators of impairment for the Tevva investment as a result of liquidity concerns As a result, the Company recorded an impairment charge of approximately $2.8 million and the investment in Tevva was valued at $0 as of June 30, 2024.

Investment in Tesspay

On March 23, 2022, the Company entered into a securities purchase agreement (the “Tesspay Securities Purchase Agreement”) with Tesspay. Under the Tesspay Securities Purchase Agreement, the Company agreed to purchase 1,000,000 shares of common stock of Tesspay for approximately $0.2 million. The Company also invested an additional $1.0 million for pre-IPO shares with Revere Master SPV LLC-Series VI, who handled the offering for Tesspay. As of December 31, 2023 the investment was valued at $2.7 million. Management noted that Tesspay filed an amendment to its SEC Form S-1 Registration Statement on April 30, 2024 wherein Tesspay disclosed its intent to IPO at between $5.0 and $6.0 price per share. Through the first six months of 2024 the Company has recorded an unrealized gain of $0.7 million and the investment is valued at $3.4 million as of June 30, 2024.

Investment in Anduril

In April 2022, the Company entered into a securities purchase agreement (the “Anduril Securities Purchase Agreement”) with Forge Investments LLC, Fund FG-MHM, who handled the offering of Anduril Industries, Inc. shares, a privately-held defense products company. As of December 31, 2023 the investment was valued at $0.5 million. During the second quarter 2024 review of the investment Dominari noted news activity related to a recent arm's length funding round, raising $1.5 billion. As a result of this the implied holding value of the investment had decreased slightly per the Company’s independent third-party valuation. As a result, the Company recorded an impairment charge of approximately $0.1 million and the investment in Anduril was valued at $0.4 million as of the second quarter of 2024.

Investment in Thrasio

In April 2022, the Company entered into a securities purchase agreement (the “Thrasio Securities Purchase Agreement”) with privately-held company Thrasio, LLC, an aggregator of private brands of top Amazon businesses and direct-to-consumer brands. As of December 31, 2023 the investment was valued at $0.3 million. During our first quarter 2024 review of the Thrasio investment Dominari noted news activity related to Thrasio had filed for Chapter 11 bankruptcy protection. As a result, the Company recorded an impairment charge of approximately $0.3 million and the investment in Thrasio was valued at $0 as of the first quarter 2024 and the second quarter of 2024.

Investment in Epic Games

On March 22, 2022, the Company entered into a securities purchase agreement (the “Epic Games Securities Purchase Agreement”) with Aeon Partners Fund, Series EG, who handled the offering of Epic Games shares. Under the Epic Games Securities Purchase Agreement, the Company agreed to purchase an aggregate of 901 shares of common stock of Epic Games for a total $1.5 million. In April 2022, the Company invested an additional $2 million for the purchase of additional shares of common stock of Epic Games through the Aeon Partners Fund, Series EG. As of December 31, 2023 the investment was valued at $3.5 million. During the Company’s first quarter of 2024 review of the investment Dominari noted a $1.5 billion funding round at a lower price per share than the Company's initial investment in Epic Games resulting in a $0.9 million unrealized loss on this investment during the six months ended June 30, 2024. The investment was valued at $2.7 million as of June 30, 2024.

Note 6. Notes Receivable

The following table presents the Company’s notes receivable as of June 30, 2024 and December 31, 2023 ($ in thousands):

June 30, 2024

	Maturity Date	Stated Interest Rate			Principal Amount		Interest Receivable		Fair Value
Notes receivable, at fair value
Convergent convertible note	12/2/2024		8	%	$	500	$	-	$	556
Raefan Industries LLC	12/31/2024		8	%	$	407	$	-	$	407
American Innovative Robotics	04/01/2027		8	%	$	1,106	$	22	$	1,128

Notes receivable, at fair value - current portion									$	964

Notes receivable, at fair value - non-current portion									$	1,128

December 31, 2023

	Maturity Date	Stated Interest Rate			Principal Amount		Interest Receivable		Fair Value
Notes receivable, at fair value
Convergent convertible note	12/2/2024		8	%	$	1,006	$	58	$	1,064
Raefan Industries LLC	12/31/2024		8	%	$	1,363	$	751	$	2,114
American Innovative Robotics	04/01/2027		8	%	$	1,106	$	22	$	1,129

Notes receivable, at fair value - current portion									$	3,177

Notes receivable, at fair value - non-current portion									$	1,129

Convergent Therapeutics, Inc.

The Company recorded principal repayment of approximately $0.3 million, interest income of approximately $59,000 and an unrealized loss on the note of approximately $9,000 on the Convergent Convertible Note for the three months ended June 30, 2024.

The Company recorded principal repayment of $0.5 million, interest income of approximately $0.1 million and an unrealized gain on the note of approximately $50,000 on the Convergent Convertible Note for the six months ended June 30, 2024.

Raefan Industries LLC

The Company recorded a realized loss as a result of directly writing off approximately $0.7 million and $1.7 million of principal, which the Company deemed uncollectible during the three and six months ended June 30, 2024, respectively.

American Innovative Robotics, LLC

The Company recorded interest income of approximately $22,440, and an unrealized loss on the note of approximately $1,008 on the Robotics Promissory Note for the six three months ended June 30, 2024.

The Company recorded interest income of approximately $44,000, and an unrealized loss on the note of approximately $1,000 on the Robotics Promissory Note for the six months ended June 30, 2024.

Note 7. Fair Value of Financial Assets and Liabilities

Financial instruments, including cash and cash equivalents, accounts payable and accrued liabilities are carried at cost, which management believes approximates fair value due to the short-term nature of these instruments. The Company measures the fair value of financial assets and liabilities based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value.

The Company uses three levels of inputs that may be used to measure fair value:

Level 1 - quoted prices in active markets for identical assets or liabilities

Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable

Level 3 - inputs that are unobservable (for example, cash flow modeling inputs based on assumptions)

Observable inputs are based on market data obtained from independent sources, while unobservable inputs are based on the Company’s market assumptions. Unobservable inputs require significant management judgment or estimation. In some cases, the inputs used to measure an asset or liability may fall into different levels of the fair value hierarchy. In those instances, the fair value measurement is required to be classified using the lowest level of input that is significant to the fair value measurement. Such determination requires significant management judgment.

The following table presents the Company’s assets and liabilities that are measured at fair value as of June 30, 2024, and December 31, 2023 ($ in thousands):

	Fair value measured as of June 30, 2024
	Total at June 30,		Quoted prices in active markets		Significant other observable inputs		Significant unobservable inputs
	2024		(Level 1)		(Level 2)		(Level 3)
Assets
Marketable securities:
Equities	$	6,320	$	6,320	$	-	$	-
Total marketable securities	$	6,320	$	6,320	$	-	$	-
Notes receivable at fair value, current portion	$	964	$	-	$	-	$	964
Notes receivable at fair value, non-current portion	$	1,128	$	-	$	-	$	1,128

	Fair value measured as of December 31, 2023
	Total at December 31,		Quoted prices in active markets		Significant other observable inputs		Significant unobservable inputs
	2023		(Level 1)		(Level 2)		(Level 3)
Assets
Marketable securities:
Equities	$	13,547	$	13,547	$	-	$	-
Total marketable securities	$	13,547	$	13,547	$	-	$	-
Notes receivable at fair value, current portion	$	3,177	$	-	$	-	$	3,177
Notes receivable at fair value, non-current portion	$	1,129	$	-	$	-	$	1,129

Level 3 Measurement

The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial assets that are measured at fair value on a recurring basis ($ in thousands):

June 30, 2024

Notes receivable at fair value, current portion at December 31, 2023	$	3,177
Collection of principal outstanding		(500	)
Realized and unrealized gain (loss) on note receivable, net		(1,657	)
Change in interest receivable		(56	)
Notes receivable at fair value, current portion at June 30, 2024	$	964

Notes receivable at fair value, non-current portion at December 31, 2023	$	1,129
Unrealized gain (loss) on notes receivable		(1	)
Notes receivable at fair value, non-current portion at June 30, 2024	$	1,128

June 30, 2023

Short-term investment at December 31, 2022	$	13
Short-term investment at June 30, 2023	$	13

Notes receivable at fair value, current portion at December 31, 2022	$	7,474
Collection of principal outstanding		(500	)
Note receivable, Convergent Therapeutics, non-current portion		(500	)
Unrealized loss on note receivable		(212	)
Accrued interest receivable		77
Notes receivable at fair value, current portion at June 30, 2023	$	6,339

Notes receivable at fair value, non-current portion at December 31, 2022	$	1,100
Note receivable, Convergent Therapeutics, non-current portion		500
Accrued interest receivable		22
Notes receivable at fair value, non-current portion at June 30, 2023	$	1,622

Notes Receivable at fair value

As of June 30, 2024, the fair value of the notes receivable was measured taking into consideration cost basis, market participant inputs, market conditions, liquidity, operating results and other qualitative and quantitative factors. For the six month period ended June 30, 2024 the Company had realized and unrealized losses on notes receivable of $1.7 million and for the three month period ended the Company had realized and unrealized losses on notes receivable of $0.7 million.

Note 8. Leases

On December 1, 2021, the Company entered into a Lease Agreement (the “Company’s Lease”) with Trump Tower Commercial LLC, a New York limited liability company. Under the Company’s Lease, the Company rents a portion of the twenty-second floor at 725 Fifth Avenue, New York, New York (the “22^ndFloor Premises”). The Company currently uses the 22^nd Floor Premises to run its day-to-day operations. The initial term of the Company’s Lease is seven (7) years commencing on July 11, 2022 (“Commencement Date). Under the Company’s Lease, the Company is required to pay monthly rent, commencing on January 11, 2023, equal to $12,874. Effective for the sixth and seventh years of the Company’s Lease, the rent shall increase to $13,502. The Company took possession of the 22^nd Floor Premises on the Commencement Date.

On September 23, 2022, Dominari Financial entered into a Lease Agreement (“Dominari Financial’s Lease”) with Trump Tower Commercial LLC, a New York limited liability company. Under Dominari Financial’s Lease, Dominari Financial rents a portion of a floor at 725 Fifth Avenue, New York, New York (the “Premises”). Dominari Financial currently uses the Premises to run its day-to-day operations. The initial term of Dominari Financial’s Lease is seven (7) years commencing on the date that possession of the Premises is delivered to Dominari Financial. Under Dominari Financial’s Lease, Dominari Financial is required to pay monthly rent equal to $49,368. Effective for the sixth and seventh years of Dominari Financial’s Lease, the rent shall increase to $51,868 per month. The Company took possession of the Premises in February 2023.

The tables below represent the Company’s lease assets and liabilities as of June 30, 2024:

	June 30, 2024
Assets:
Operating lease right-of-use-assets	$	3,146

Liabilities:
Current
Operating		429
Long-term
Operating		2,815
	$	3,244

The following tables summarize quantitative information about the Company’s operating leases, under the adoption of ASC 842:

	June 30, 2024
Weighted-average remaining lease term – operating leases (in years)		6.0
Weighted-average discount rate – operating leases		10.0	%

During the three and six months ended June 30, 2024 and 2023, the Company recorded approximately $0.2 million, respectively, of lease expense to current period operations.

	Three Months Ended		Six Months Ended
	June 30, 2024		June 30, 2024
Operating leases
Operating lease cost	$	178	$	356
Operating lease expense		178		356
Short-term lease rent expense		23		45
Net rent expense	$	201	$	401

	Three Months Ended		Six Months Ended
	June 30, 2023		June 30, 2023
Operating leases
Operating lease cost	$	179	$	313
Operating lease expense		179		313
Short-term lease rent expense		33		63
Net rent expense	$	212	$	376

Supplemental cash flow information related to leases were as follows:

	Six Months Ended
	June 30, 2024
Operating cash flows - operating leases	$	374

As of June 30, 2024, future minimum payments during the next five years and thereafter are as follows:

	Operating
	Leases
Remaining Period Ended December 31, 2024		373
Year Ended December 31, 2025		685
Year Ended December 31, 2026		685
Year Ended December 31, 2027		685
Year Ended December 31, 2028		766
Thereafter		1,160
Total		4,354
Less present value discount		(1,110	)
Operating lease liabilities	$	3,244

Note 9. Net Loss per Share

Basic loss per share of common stock is computed by dividing the net loss allocable to common stockholders by the weighted-average number of shares of common stock or common stock equivalents outstanding for the period. Diluted loss per common share is computed similar to basic loss per share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock as of the first day of the period. Securities that could potentially dilute loss per share in the future that were not included in the computation of diluted loss per share for the six months ended June 30, 2024, and 2023 are as follows:

	As of June 30,
	2024		2023
Convertible preferred stock		34		34
Warrants to purchase common stock		444,796		444,796
Restricted stock awards		104,206		-
Options to purchase common stock		420,060		31,193
Total		969,096		476,023

Note 10. Stockholders’ Equity and Convertible Preferred Stock

Common Stock

As of June 30, 2024, there are 6,304,183 shares of common stock issued and 6,244,035 shares outstanding.

Treasury Stock

There are 60,148 shares of treasury stock as of June 30, 2024.

Warrants

A summary of warrant activity for the three months ended June 30, 2024, is presented below:

	Warrants		Weighted Average Exercise Price		Total Intrinsic Value		Weighted Average Remaining Contractual Life (in years)
Outstanding as of December 31, 2023		444,796	$	29.25		-		2.20
Granted		-	$	-		-		-
Outstanding as of June 30, 2024		444,796	$	29.25		-		1.70

Restricted Stock Awards

On June 11, 2024, the Company executed grant agreements with each of Messrs. Anthony Hayes and Kyle Wool pursuant to their employment agreements with the Company, and in accordance with the Company’s 2022 Equity Incentive Plan. Pursuant to the grant agreements, each received 154,559 shares of the Company’s common stock. Upon issuance, the shares were fully-vested and nonforfeitable with a total fair value of approximately $0.7 million. See Restricted Stock roll-forward below.

A summary of restricted stock awards activity for the three months ended June 30, 2024, is presented below:

	Number of Restricted Stock Awards			Weighted Average Grant Day Fair Value
Nonvested at December 31, 2023		136,309		$	2.26
Granted		309,118		$	2.18
Vested		(309,118	)	$	2.18
Nonvested at June 30, 2024		136,309		$	2.26

Stock-based compensation associated with the amortization of restricted stock awards expense was approximately $75,000 and $257 for the three months ended June 30, 2024, and 2023, respectively. All stock compensation was recorded as a component of general and administrative expenses.

As of June 30, 2024, there is approximately $0.2 million unrecognized stock-based compensation expense related to restricted stock awards.

Stock Options

A summary of option activity under the Company’s stock option plan for the three months ended June 30, 2024, is presented below:

	Number of Shares			Weighted Average Exercise Price		Total Intrinsic Value		Weighted Average Remaining Contractual Life (in years)
Outstanding as of December 31, 2023		420,168		$	5.80	$	-		9.3
Employee options expired		(108	)	$	5,161.54		-		-
Outstanding as of June 30, 2024		420,060		$	4.48	$	-		8.8
Options vested and exercisable		132,439		$	6.77	$	-		8.5

Stock-based compensation associated with the amortization of stock option expense was approximately $0.1 million and $5,000 for the three months ended June 30, 2024, and 2023, respectively. All stock compensation was recorded as a component of general and administrative expenses.

Estimated future stock-based compensation expense relating to unvested stock options is approximately $0.4 million.

Note 11. Revenue

The following table presents our total revenue disaggregated by revenue type for the three months ended June 30, 2024 and 2023 (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Underwriting	$	312	$	43	$	721	$	43
Commissions		1,775		14		2,085		14
Advisory fees		96		-		437		-
Manager fee		334		-		334		-
Placement fee		3,411		-		3,668		-
Other		246		14		296		14
Total	$	6,174	$	71	$	7,541	$	71

Note 12. Commitments and Contingencies

Legal Proceedings

The Company may be subject to certain legal and other claims that arise in the ordinary course of its business. In particular, the Company and its subsidiaries may be named in and subject to various proceedings and claims arising primarily from the Company’s securities business activities, including lawsuits, arbitration claims, class actions, and regulatory matters. Some of these claims may seek substantial compensatory, punitive, or indeterminate damages. The Company and its subsidiaries may also be subject to other reviews, investigations, and proceedings by governmental and self-regulatory organizations regarding the Company’s business, which may result in adverse judgments, settlements, fines, penalties, injunctions, and other relief. Due to the inherent difficulty of predicting the outcome of litigation and other claims the Company cannot state with certainty what the eventual outcome of potential litigation or other claims will be. Notwithstanding this uncertainty, the Company does not believe that the results of these potential claims are likely to have a material effect on its financial position or results of operations.

In March 2024, the Company received a notice of petition of a filed action seeking relief related to the hiring in March 2024 of new registered representatives from the representatives’ former employer. This notice was filed against the Company’s subsidiary, Dominari Securities. The Company does not agree with the plaintiff’s claims. While the Company intends to defend itself vigorously from this claim, it is unable to predict the outcome of such legal proceeding. Any potential loss as a result of this legal proceeding cannot be reasonably estimated. As a result, the Company has not recorded a loss contingency for the aforementioned claim.

In the past, in the ordinary course of business, the Company actively pursued legal remedies to enforce its intellectual property rights and to stop unauthorized use of the Company’s technology. Other than ordinary routine litigation incidental to the business, the Company is not aware of any material, active or pending legal proceedings brought against it.

Note 13. Regulatory

Dominari Securities, the Company’s broker-dealer subsidiary, is registered with the SEC as an introducing broker-dealer and is a member of FINRA. The Company’s broker-dealer subsidiary is subject to SEC Uniform Net Capital Rule (Rule 15c3-1) which requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. As such, the subsidiary is subject to the minimum net capital requirements promulgated by the SEC and has elected to calculate minimum capital requirements using the basic method permitted by Rule 15c3-1. As of June 30, 2024, Dominari Securities had net capital of approximately $12.6 million, which was approximately $12.4 million in excess of net capital requirement of $0.2 million.

Note 14. Related Party Transaction

In 2021, the Company engaged the services of Revere Securities, LLC (“Revere”) to strategically manage and build the Company’s investment processes. Kyle Wool, Board Member, was previously a member of the board of directors of Revere. The Company incurred fees of approximately $0 and $80,000 during the six months ending June 30, 2024 and 2023, respectively. The Company incurred fees of approximately $0 and $80,000 during the three months ending June 30, 2024 and 2023, respectively. These fees were included in general and administrative expenses in the unaudited condensed consolidated statements of operations.

Note 15. Segment Reporting

The Company operates in two reportable business segments: (1) Dominari Financial and (2) Legacy AIkido. The Dominari Financial reportable business segment represents the Company’s broker-dealer business, which is composed of mostly underwriting and transactional service activities. The Legacy AIkido reportable business segment includes Aikido Labs, which manages the investments holdings of the legacy entity. Prior to the FPS Acquisition, the Company operated as a single operating segment comprised of Legacy AIkido.

The chief operating decision-maker (“CODM”) has access to and regularly reviews internal financial reporting for each business and uses that information to make operational decisions and allocate resources. Accounting policies applied by the reportable segments are the same as those used by the Company and described in the “Summary of Significant Accounting Policies.” While assets are primarily held within the Legacy AIkido reportable business segment, total assets by segment is not disclosed as the CODM does not assess performance, make strategic decisions, or allocate resources based on assets.

The measures of segment profitability that are most relied upon by the CODM are gross revenue and net loss, as presented within the table below and reconciled to the statement of operations.

	Three Months Ended June 30, 2024
	Dominari Financial			Legacy AIkido Pharma			Consolidated
Revenue	$	5,503		$	671		$	6,174
Operating Costs		-			-			-
General and administrative		6,035			2,875			8,910
Research and development		-			-			-
Loss from operations		(532	)		(2,204	)		(2,736	)

Other (expenses) income		-			-			-
Other income		-			-			-
Interest income		205			80			285
Gain on marketable securities		-			104			104
Unrealized loss on note receivable		-			(742	)		(742	)
Change in fair value of investments		-			(3,031	)		(3,031	)
Total other (expenses) income		205			(5,588	)		(3,384	)
Net loss	$	(328	)	$	(5,792	)	$	(6,120	)

	Six Months Ended June 30, 2024
	Dominari Financial			Legacy AIkido Pharma			Consolidated
Revenue	$	6,870		$	671		$	7,541
Operating Costs
General and administrative		8,746			4,336			13,082
Research and development		-						-
Loss from operations		(1,876	)		(3,665	)		(5,541	)

Other (expenses) income
Other income		-			-			-
Interest income		341			108			449
Gain on marketable securities		-			678			678
Unrealized loss on note receivable		-			(1,657	)		(1,657	)
Change in fair value of investments		-			(5,490	)		(5,490	)
Total other (expenses) income		341			(6,361	)		(6,020	)
Net loss	$	(1,535	)	$	(10,026	)	$	(11,561	)

Note 16. Income Taxes

The Company recorded no income tax expense for the three months ended June 30, 2024 and 2023 because the estimated annual effective tax rate was zero. In determining the estimated annual effective income tax rate, the Company analyzes various factors, including projections of the Company’s annual earnings and taxing jurisdictions in which the earnings will be generated, the impact of state and local income taxes, the ability to use tax credits and net operating loss carry forwards, and available tax planning alternatives.

As of June 30, 2024, and December 31, 2023, the Company provided a full valuation allowance against its net deferred tax assets since the Company believes it is more likely than not that its deferred tax assets will not be realized.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

You should read this discussion together with the Financial Statements, related Notes and other financial information included elsewhere in this Form 10-Q. All references to “we,” “us,” “our” and the “Company” refer to Dominari Holdings Inc., a Delaware corporation and its consolidated subsidiaries unless the context requires otherwise.

Cautionary Note Regarding Forward-Looking Statements

This Quarterly Report on Form 10-Q (“Quarterly Report”) contains statements that the Company believes are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements relating to expectations for future financial performance, business strategies or expectations for the Company’s business. These statements are based on the beliefs and assumptions of the management of the Company. Although the Company believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, it cannot provide assurance that it will achieve or realize these plans, intentions or expectations. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this Quarterly Report, words such as “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “strive,” “target,” “will,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law. You should not place undue reliance on these forward-looking statements. Should one or more of a number of known and unknown risks and uncertainties materialize, or should any of our assumptions prove incorrect, the Company’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements.

Overview

Dominari Holdings Inc. (“Dominari”) is a holding company that, through its various subsidiaries, is engaged in wealth management, investment banking, sales and trading, asset management and insurance. In addition to capital investment, Dominari provides management support to the executive teams of its subsidiaries, helping them to operate efficiently and reduce cost under a streamlined infrastructure. Dominari and its subsidiaries are collectively referred to herein as “Company,” “we,” “our” or “us.”

Dominari Financial Inc. (“Dominari Financial”), a wholly-owned subsidiary of Dominari Holdings Inc., executes the Company’s growth strategy in the financial services industry. In addition to organic growth, Dominari Financial seeks partnership opportunities and acquisitions of third-party financial assets such as registered investment advisors and businesses, broker dealers, asset management and fintech firms, and insurance brokers. Our first transaction in furtherance of our growth in the financial services industry, the acquisition of 100% of a dually-registered broker dealer and investment advisor from Fieldpoint Private Bank & Trust (“Fieldpoint”), was consummated on March 27, 2023. The newly acquired dually registered broker-dealer and investment adviser was renamed Dominari Securities LLC (“Dominari Securities”) and is a wholly-owned subsidiary of Dominari Financial.

The Company is in the process of winding down its historical pipeline of biotechnology assets held by Aikido Labs, LLC. These biotechnology assets consist of patented technology from leading universities and researchers, including prospective treatments for pancreatic cancer, acute myeloid leukemia, SARS-CoV-2 and acute lymphoblastic leukemia.

Critical Accounting Estimates

We prepare our condensed consolidated financial statements in accordance with GAAP. The preparation of these condensed consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. We base our estimates on historical experience and other assumptions that we believe are reasonable under the circumstances. Our actual results could differ significantly from these estimates under different assumptions and conditions.

There have been no material changes to our critical accounting estimates as compared to the critical accounting estimates discussed in the Form 10-K.

Refer to Note 3 of the Annual Report for a discussion of our significant accounting policies.

Recently Issued Accounting Pronouncements

See Note 3 to the unaudited condensed consolidated financial statements for a discussion of recent accounting standards.

Results of Operations

Three Months Ended June 30, 2024, compared to the Three Months Ended June 30, 2023

During the three months ended June 30, 2024 and 2023, we recognized approximately $6.2 million and $71,000 in revenue from operations, respectively, primarily driven by the commissions and underwriting revenue earned by Dominari Securities and Dominari Manager LLC (“Manager”). During the three months ended June 30, 2024 and 2023, we incurred a loss from operations of approximately $2.7 million and $9.0 million, respectively.

During the three months ended June 30, 2024 and 2023, other (expenses) income was approximately $(3.4) million and $0.3 million, respectively.

The activity described above for the three months ended June 30, 2024 and 2023, is primarily a result of the Company’s entrance into the financial services industry, overall volatility in investment valuations due to macroeconomic uncertainty impacting marketable securities and the change in fair value of long-term equity investments. Specifically:

Marketable securities - we recognized a gain of approximately $0.1 million for the three months ended June 30, 2024. The decrease of approximately $0.3 million in gains from the three months June 2023 is driven by both market improvement and an increase in sale activity resulting in more realized gains.

ii.

Notes receivable - the changes over the three months ended June 30, 2024 and 2023 are a function of observable market transactions which resulted in an increase in unrealized loss of approximately $0.7 million on the adjusted fair value of our notes receivable during the three months ended June 30, 2024.

iii.

Long-term equity investments -the changes over the three months ended June 30, 2024 and 2023 are a function of observable market transactions which resulted in an increase in unrealized loss of approximately $3.0 million on the adjusted fair value of the investments during the three months ended June 30, 2024.

Six Months Ended June 30, 2024, compared to the Six Months Ended June 30, 2023

During the six months ended June 30, 2024, we recognized approximately $7.5 million and $71,000 in revenue from operations, respectively, primarily driven by the commissions and underwriting revenue earned by Dominari Securities and Dominari Manager. During the six months ended June 30, 2024 and 2023, we incurred a loss from operations of approximately $5.5 million and $12.8 million, respectively.

During the six months ended June 30, 2024 and 2023, other (expenses) income was approximately $(6.0) million and $0.4 million, respectively.

The activity described above for the six months ended June 30, 2024 and 2023, is primarily a result of the Company’s entrance into the financial services industry, overall volatility in investment valuations due to macroeconomic uncertainty impacting marketable securities and the change in fair value of long-term equity investments. Specifically:

Marketable securities - we recognized a gain of approximately $0.7 million for the six months ended June 30, 2024. The increase of approximately $0.3 million in gains over the six months ended June 2023 is driven by both market improvement and an increase in sale activity resulting in more realized gains.

ii.

Notes receivable - the changes over the six months ended June 30, 2024 and 2023 are a function of observable market transactions which resulted in an increase in unrealized loss of approximately $1.7 million on the adjusted fair value of our notes receivable during the six months ended June 30, 2024.

iii.

Long-term equity investments -the changes over the six months ended June 30, 2024 and 2023 are a function of observable market transactions which resulted in an increase in unrealized loss of approximately $5.5 million on the adjusted fair value of the investments during the six months ended June 30, 2024.

Liquidity and Capital Resources

We continue to incur ongoing administrative and other expenses, including public company expenses. While we continue to implement our business strategy, we intend to finance our activities through:

●

managing current cash and cash equivalents on hand from our past debt and equity offerings;

●

seeking additional funds raised through the sale of additional securities in the future; and

●

seeking additional liquidity through credit facilities or other debt arrangements.

Our ultimate success is dependent on our ability to generate sufficient cash flow to meet our obligations on a timely basis. Our business may require significant amounts of capital to sustain operations that we need to execute our longer-term business plan to support our transition into the financial services industry. Our working capital amounted to approximately $24.9 million as of June 30, 2024. We believe our cash and cash equivalents and marketable securities, together with the anticipated cash flow from operations will be sufficient to meet our working capital and capital expenditure requirements for at least the next 12 months. In the event that cash flow from operations is not sufficient to fund our operations, as expected, or if our plans or assumptions change, including if inflation begins to have a greater impact on our business or if we decide to move forward with any activities that require more outlays of cash than originally planned, we may need to raise additional capital sooner than expected. We may raise this additional capital by obtaining additional debt or equity financing, especially if we experience downturns in our business that are more severe or longer than anticipated, or if we experience significant increases in expense levels resulting from being a publicly traded company or from continuing operations.

Our ability to obtain capital to implement our growth strategy over the longer term will depend on our future operating performance, financial condition and, more broadly, on the availability of equity and debt financing. Capital availability will be affected by prevailing conditions in our industry, the global economy, the global financial markets, and other factors, many of which are beyond our control. Specifically, as a result of recent volatility and weakness in the public markets, due to, among other factors, uncertainty in the global economy and financial markets, it may be much more difficult to raise additional capital, if and when it is needed, unless the public markets become less volatile and stronger at such time that we seek to raise additional capital. In addition, any additional debt service requirements we take on could be based on higher interest rates and shorter maturities and could impose a significant burden on our results of operations and financial condition, and the issuance of additional equity securities could result in significant dilution to stockholders.

Cash Flows from Operating Activities

For the six months ended June 30, 2024 and 2023, net cash used in operations was approximately $7.2 million and $13.9 million, respectively. The cash used in operating activities for the six months ended June 30, 2024, is primarily attributable to a net loss of approximately $11.6 million, $3.3 million realized gain on marketable securities and changes in operating assets and liabilities of $3.5 million, partially offset by approximately $5.5 million of change in fair value of long-term equity investment, $2.9 million unrealized loss on marketable securities and $1.7 million unrealized and realized loss on note receivable. The cash used in operating activities for the six months ended June 30, 2023, is primarily attributable to a net loss of approximately $12.4 million, approximately $0.5 million of realized gain on marketable securities and changes in operating assets and liabilities of $4.6 million, partially offset by $2.7 million stock-based compensation expense and approximately $0.5 million in unrealized losses on marketable securities.

Cash Flows from Investing Activities

For the six months ended June 30, 2024 and 2023, net cash provided by (used in) investing activities was approximately $10.2 million and $(14.7) million, respectively. The cash provided by investing activities for the six months ended June 30, 2024, primarily resulted from our sales of marketable securities of approximately $11.6 million and the sale of a long-term investment of $3.5 million, partially offset by purchase of marketable securities of $4.0 million and funds to employee forgivable loan of $1.3 million. The cash used in investing activities for the six months ended June 30, 2023, primarily resulted from our purchase of marketable securities of approximately $34.0 million and the acquisition of FPS of approximately $1.1 million, partially offset by our sale of marketable securities approximately of $20.5 million. The Company also collected approximately $0.5 million in principal related to its short-term notes.

Cash Flows from Financing Activities

For the six months ended June 30, 2024, there is no cash flows from financing activities. For the six months ended June 30, 2023, cash used in financing activities was approximately $0.9 million, which reflects the cost for purchase of treasury stock of approximately $0.9 million.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that material information required to be disclosed in our periodic reports filed or submitted under the Securities Exchange Act of 1934, as amended, or the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms. Our disclosure controls and procedures are also designed to ensure that information required to be disclosed in the reports we file or submit under the Exchange Act are accumulated and communicated to our management, including our principal executive officer and principal financial officer as appropriate, to allow timely decisions regarding required disclosure.

During the quarter ended June 30, 2024, we carried out an evaluation, under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based upon that evaluation, our principal executive officer and principal financial officer concluded that our disclosure controls and procedures were not effective due to the material weakness in our internal controls.

A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonably possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis.

Material Weaknesses in Internal Controls

The Company’s management has concluded that our control around the accounting for certain notes receivable accounted for at fair value and certain long-term investments accounted for at fair value or with the equity security measurement alternative was not effectively designed or maintained, and therefore initially were not accounted for correctly. As a result, our management performed additional analysis as deemed necessary to ensure that our financial statements were prepared in accordance with accounting principles generally accepted in the United States of America. Management understands that the accounting standards applicable to our financial statements are complex and will seek to enhance controls over its experienced third-party professionals with whom management can consult with respect to accounting issues and remediate this material weakness.

Changes in Internal Control Over Financial Reporting

We have not made any changes to our internal control over financial reporting (as defined in Rule 13a-15(f) and 15d-15(f) under the Exchange Act) during the quarter ended June 30, 2024 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Limitations on Effectiveness of Controls

Our management does not expect that our disclosure controls and procedures or our internal controls will prevent all errors and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within our company have been detected.

Part II - Other Information

Item 1. Legal Proceedings

Many aspects of the Company’s business involve substantial risks of liability. In the ordinary course of business, the Company may be named as defendant or co-defendant in various legal actions, including arbitrations, class actions and other litigation, which could create substantial exposure and periodic expenses. The Company may also be involved, from time to time, in other reviews, investigations and proceedings (both formal and informal) by governmental and self-regulatory agencies regarding the Company’s business, which may result in expenses, adverse judgments, settlements, fines, penalties, injunctions or other relief. In the past in the ordinary course of business, the Company has actively pursued legal remedies to enforce its intellectual property rights and to stop unauthorized use of its technology.

In March 2024, the Company received a notice of petition of a filed action seeking relief related to the hiring in March 2024 of new registered representatives from the representatives’ former employer. This notice was filed against the Company’s subsidiary Dominari Securities. The Company does not agree with the claim of the plaintiff and will defend itself accordingly. While the Company intends to defend itself vigorously from this claim, it is unable to predict the outcome of such legal proceeding. Any potential loss as a result of this legal proceeding cannot be reasonably estimated. As a result, the Company has not recorded a loss contingency for the aforementioned claim.

Item 1A. Risk Factors

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, we are not required to provide information required by this Item. Our current risk factors are set forth in our Annual Report on Form 10-K, which was filed with the SEC on April 1, 2024. Any of our previously disclosed risk factors could result in a significant or material adverse effect on our results of operations or financial condition. Additional risk factors not presently known to us or that we currently deem immaterial may also impair our business or results of operations. We may disclose changes to such risk factors or disclose additional risk factors from time to time in our future filings with the SEC.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures.

Not Applicable.

Item 5. Other Information.

None.

Item 6. Exhibits

10.1		Limited Liability Company Operating Agreement of Dominari Financial Heritage Strategies LLC by and between Dominari Financial Inc. and Heritage Strategies LLC, dated as of May 21, 2024 (incorporated by reference to Exhibit 10.1 to the registrant's Current Report on Form 8-K filed on May 21, 2024)
31.1*		Certification of Principal Executive Officer of Dominari Holdings Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2*		Certification of Principal Financial Officer of Dominari Holdings Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1**		Certification of Principal Executive Officer of Dominari Holdings Inc. pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2**		Certification of Principal Financial Officer of Dominari Holdings Inc. pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS		Inline XBRL Instance Document
101.SCH		Inline XBRL Taxonomy Extension Schema Document.
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

Filed herewith.

Furnished herewith.

Signatures

Pursuant to the requirements of the Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	DOMINARI HOLDINGS INC.

Date: August 8, 2024	By:	/s/ Anthony Hayes
		Anthony Hayes
		Chief Executive Officer
		(Principal Executive Officer)

Date: August 8, 2024	By:	/s/ George Way
		George Way
		Chief Financial Officer
		(Principal Financial and Accounting Officer)

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2023-01-01 2023-06-30 0000012239 us-gaap:CommonStockMember 2024-06-11 2024-06-11 0000012239 2024-06-11 2024-06-11 0000012239 domh:RestrictedStockAwardsMember 2024-04-01 2024-06-30 0000012239 domh:RestrictedStockAwardsMember 2023-04-01 2023-06-30 0000012239 us-gaap:WarrantMember 2023-12-31 0000012239 us-gaap:WarrantMember 2023-12-31 2023-12-31 0000012239 us-gaap:WarrantMember 2024-01-01 2024-06-30 0000012239 us-gaap:WarrantMember 2024-06-30 0000012239 us-gaap:RestrictedStockMember 2023-12-31 0000012239 us-gaap:RestrictedStockMember 2024-01-01 2024-06-30 0000012239 us-gaap:RestrictedStockMember 2024-06-30 0000012239 2023-12-31 2023-12-31 0000012239 domh:UnderwritingMember 2024-04-01 2024-06-30 0000012239 domh:UnderwritingMember 2023-04-01 2023-06-30 0000012239 domh:UnderwritingMember 2024-01-01 2024-06-30 0000012239 domh:UnderwritingMember 2023-01-01 2023-06-30 0000012239 domh:CommissionsMember 2024-04-01 2024-06-30 0000012239 domh:CommissionsMember 2023-04-01 2023-06-30 0000012239 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srt:MinimumMember 2024-06-30 0000012239 domh:DominariFinancialMember 2024-04-01 2024-06-30 0000012239 domh:LegacyAIkidoPharmaMember 2024-04-01 2024-06-30 0000012239 domh:ConsolidatedMember 2024-04-01 2024-06-30 0000012239 domh:DominariFinancialMember 2024-01-01 2024-06-30 0000012239 domh:LegacyAIkidoPharmaMember 2024-01-01 2024-06-30 0000012239 domh:ConsolidatedMember 2024-01-01 2024-06-30 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure

Exhibit 31.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

PURSUANT TO RULE 13A-14(A)/15(D)-14(A) UNDER THE SECURITIES EXCHANGE ACT OF 1934,

AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Anthony Hayes, certify that:

I have reviewed this Quarterly Report on Form 10-Q of Dominari Holdings Inc.;

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the period presented in this report;

The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 8, 2024

	/s/ Anthony Hayes
	Anthony Hayes
	Chief Executive Officer
	(Principal Executive Officer)

Exhibit 31.2

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER AND PRINCIPAL ACCOUNTING OFFICER

PURSUANT TO RULE 13A-14(A)/15(D)-14(A) UNDER THE SECURITIES EXCHANGE ACT OF 1934,

AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, George Way, certify that:

I have reviewed this Quarterly Report on Form 10-Q of Dominari Holdings Inc.;

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 8, 2024

	/s/ George Way
	George Way
	Chief Financial Officer
	(Principal Financial and Accounting Officer)

Exhibit 32.1

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Dominari Holdings Inc. (the “Company”) on Form 10-Q for the quarterly period ended June 30, 2024, as filed with the Securities and Exchange Commission (the “Report”), I, Anthony Hayes, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge:

The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company as of and for the period covered by the Report.

Date: August 8, 2024

	/s/ Anthony Hayes
	Anthony Hayes
	Chief Executive Officer
	(Principal Executive Officer)

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Dominari Holdings Inc. (the “Company”) on Form 10-Q for the quarterly period ended June 30, 2024, as filed with the Securities and Exchange Commission (the “Report”), I, George Way, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge:

The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company as of and for the period covered by the Report.

Date: August 8, 2024

	/s/ George Way
	George Way
	Chief Financial Officer
	(Principal Financial and Accounting Officer)

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2024	Aug. 05, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Information [Line Items]
Entity Registrant Name	DOMINARI HOLDINGS INC.
Entity Central Index Key	0000012239
Entity File Number	001-41845
Entity Tax Identification Number	52-0849320
Entity Incorporation, State or Country Code	DE
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	725 5th Avenue
Entity Address, Address Line Two	22nd Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10022
Entity Phone Fax Numbers [Line Items]
City Area Code	(212)
Local Phone Number	393-4540
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock ($0.0001 par value per share)
Trading Symbol	DOMH
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		6,276,138

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 5,802	$ 2,833
Marketable securities	6,320	13,547
Deposits with clearing broker	13,365	7,687
Prepaid expenses and other assets	2,314	898
Notes receivable, at fair value - current portion	964	3,177
Total current assets	28,765	28,142
Property and equipment, net	291	344
Notes receivable, at fair value - non-current portion	1,128	1,129
Long Term Equity Investments	15,285	24,150
Right-of-use assets	3,146	3,335
Security deposit	458	458
Total assets	49,073	57,558
Current liabilities
Accounts payable and accrued expenses	944	1,036
Accrued salaries and benefits	116	51
Accrued commissions	1,954	77
Lease liability - current	429	421
Other current liability	456	22
Total current liabilities	3,899	1,607
Lease liability, less current portion	2,815	3,028
Total liabilities	6,714	4,635
Stockholders’ equity
Preferred stock value
Common stock, $0.0001 par value, 100,000,000 shares authorized; 6,304,183 and 5,995,065 shares issued as of June 30, 2024 and December 31, 2023 respectively; 6,244,035 and 5,934,917 shares outstanding as of June 30, 2024 and December 31, 2023 respectively;
Additional paid-in capital	263,184	262,187
Treasury stock, as of cost, 60,148 shares as of June 30, 2024 and December 31, 2023	(501)	(501)
Accumulated deficit	(220,324)	(208,763)
Total stockholders’ equity	42,359	52,923
Total liabilities and stockholders’ equity	49,073	57,558
Series D Preferred Stock
Stockholders’ equity
Preferred stock value
Series D-1 Preferred Stock
Stockholders’ equity
Preferred stock value

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Preferred stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	50,000,000	50,000,000
Common stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	6,304,183	5,995,065
Common stock, shares outstanding	6,244,035	5,934,917
Treasury stock, at cost	60,148	60,148
Series D Preferred Stock
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	3,825	3,825
Preferred stock, shares outstanding	3,825	3,825
Liquidation preference (in Dollars per share)	$ 0.0001	$ 0.0001
Series D-1 Preferred Stock
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	834	834
Preferred stock, shares outstanding	834	834
Liquidation preference (in Dollars per share)	$ 0.0001	$ 0.0001

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenues	$ 6,174	$ 71	$ 7,541	$ 71
Operating costs and expenses
General and administrative	8,910	9,080	13,082	12,913
Research and development		2		3
Total operating expenses	8,910	9,082	13,081	12,916
Loss from operations	(2,736)	(9,011)	(5,541)	(12,845)
Other income (expenses)
Interest income	285	160	449	297
Gain on marketable securities, net	104	400	678	335
Realized and unrealized loss on note receivable, net	(742)	(212)	(1,657)	(212)
Change in fair value of investments	(3,031)		(5,490)
Total other (expenses) income	(3,384)	348	(6,020)	420
Net loss	$ (6,120)	$ (8,663)	$ (11,561)	$ (12,425)
Net loss per share, basic and diluted
Net loss per share, Basic (in Dollars per share)	$ (1.01)	$ (1.79)	$ (1.92)	$ (2.45)
Weighted average number of shares outstanding, basic and diluted
Weighted average number of shares outstanding, Basic (in Shares)	6,063,003	4,827,239	6,029,034	5,065,055

Condensed Consolidated Statements of Operations (Unaudited) (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net loss per share, Diluted	$ (1.01)	$ (1.79)	$ (1.92)	$ (2.45)
Weighted average number of shares outstanding, Diluted	6,063,003	4,827,239	6,029,034	5,065,055

Condensed Consolidated Statements of Changes in Redeemable Convertible Preferred Stock and Stockholders’ Equity (Unaudited) - USD ($) $ in Thousands	Preferred Stock	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Deficit	Total
Balance at Dec. 31, 2022			$ 262,970	$ (3,322)	$ (185,881)	$ 73,767
Balance (in Shares) at Dec. 31, 2022	4,659	5,485,096		468,017
Stock-based compensation			1,375			1,375
Stock-based compensation (in Shares)		529,715
Cancellation of common stock
Cancellation of common stock (in Shares)		(25,000)
Purchase of treasury stock				$ (939)		(939)
Purchase of treasury stock (in Shares)				236,630
Retirement of treasury stock			(3,760)	$ 3,760
Retirement of treasury stock (in Shares)		(644,499)		(644,499)
Net loss					(12,425)	(12,425)
Balance at Jun. 30, 2023			260,585	$ (501)	(198,306)	61,778
Balance (in Shares) at Jun. 30, 2023	4,659	5,345,312		60,148
Balance at Mar. 31, 2023			259,215	$ (501)	(189,643)	69,071
Balance (in Shares) at Mar. 31, 2023	4,659	4,815,597		60,148
Stock-based compensation			1,370			1,370
Stock-based compensation (in Shares)		529,715
Net loss					(8,663)	(8,663)
Balance at Jun. 30, 2023			260,585	$ (501)	(198,306)	61,778
Balance (in Shares) at Jun. 30, 2023	4,659	5,345,312		60,148
Balance at Dec. 31, 2023			262,187	$ (501)	(208,763)	52,923
Balance (in Shares) at Dec. 31, 2023	4,659	5,995,065		60,148
Stock-based compensation			997			997
Stock-based compensation (in Shares)		309,118
Net loss					(11,561)	(11,561)
Balance at Jun. 30, 2024			263,184	$ (501)	(220,324)	42,359
Balance (in Shares) at Jun. 30, 2024	4,659	6,304,183		60,148
Balance at Mar. 31, 2024			262,374	$ (501)	(214,204)	47,669
Balance (in Shares) at Mar. 31, 2024	4,659	5,995,065		60,148
Stock-based compensation			810			810
Stock-based compensation (in Shares)		309,118
Net loss					(6,120)	(6,120)
Balance at Jun. 30, 2024			$ 263,184	$ (501)	$ (220,324)	$ 42,359
Balance (in Shares) at Jun. 30, 2024	4,659	6,304,183		60,148

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities
Net loss	$ (11,561)	$ (12,425)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of right-of-use assets	189	182
Depreciation	52	32
Change in fair value of long-term investment	5,490
Stock-based compensation	997	2,675
Realized (gain) loss on marketable securities	(3,330)	487
Unrealized (gain) loss on marketable securities	2,940	(514)
Unrealized loss on note receivable	1,657	212
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(78)	(229)
Prepaid acquisition cost		301
Clearing broker deposits	(5,678)	(3,532)
Accounts payable and accrued expenses	(92)	(428)
Accrued salaries and benefits	65	(628)
Accrued commissions	1,877	(8)
Lease liabilities	(205)	58
Other current liabilities	434	3
Notes receivable, at fair value – net interest accrued	58	(99)
Net cash used in operating activities	(7,185)	(13,913)
Cash flows from investing activities
Purchase of marketable securities	(3,963)	(34,014)
Sale of marketable securities	11,580	20,494
Purchase of fixed assets		(419)
Acquisition of FPS, net of cash acquired and receivable owed from FPS		(1,112)
Collection of principal on note receivable	500	502
Loans to employees	(1,340)	(100)
Purchase of short-term and long-term investments	(125)	(75)
Redemption of long-term investments	3,500
Collection of loans to employees	2
Net cash provided by (used in) investing activities	10,154	(14,724)
Cash flows from financing activities
Purchase of treasury stock		(939)
Net cash used in financing activities		(939)
Net increase (decrease) in cash and cash equivalents and restricted cash	2,969	(29,576)
Cash and cash equivalents, beginning of period	2,833	33,174
Cash and cash equivalents, end of period	$ 5,802	$ 3,598

Organization and Description of Business and Recent Developments

6 Months Ended

Jun. 30, 2024

Organization and Description of Business and Recent Developments [Abstract]

Organization and Description of Business and Recent Developments

Note 1. Organization and Description of Business and Recent Developments

Organization and Description of Business

Liquidity and Capital Resources

6 Months Ended

Jun. 30, 2024

Liquidity and Capital Resources [Abstract]

Liquidity and Capital Resources

Note 2. Liquidity and Capital Resources

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2024

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 3. Summary of Significant Accounting Policies

There have been no material changes in the Company’s significant accounting policies from those previously disclosed in the 2023 Annual Report.

Basis of Presentation and Principles of Consolidation

Use of Estimates

Deposits with clearing broker

Leases

Revenue

The following provides detailed information on the recognition of the Company’s revenue from contracts with customers:

●

Long-term equity investments

Recently adopted accounting standards

Effect of new accounting pronouncements to be adopted in future periods

Marketable Securities

6 Months Ended

Jun. 30, 2024

Marketable Securities [Abstract]

Marketable Securities

Note 4. Marketable Securities

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Realized gain (loss)	$	2,360		$	(432	)	$	3,330		$	(487	)
Unrealized gain (loss)		(2,353	)		643			(2,940	)		514
Dividend income		97			189			288			308
Total	$	104		$	400		$	678		$	335

Long-Term Equity Investments

6 Months Ended

Jun. 30, 2024

Long-Term Equity Investments [Abstract]

Long-Term Equity Investments

Note 5. Long-Term Equity Investments

	Cost Basis as of December 31, 2023		December 31, 2023		Cost Basis as of June 30, 2024		June 30, 2024
Investment in Kerna Health Inc	$	2,140	$	4,940	$	2,140	$	4,940
Investment in Kaya Now		1,500		-		1,500		-
Investment in Tevva Motors*		1,972		2,794		1,972		-
Investment in ASP Isotopes		1,300		-		1,300		-
Investment in Unusual Machines		1,075		1,033		1,075		302
Investment in Qxpress*		1,000		1,000		1,000		1,000
Investment in Masterclass*		170		170		170		170
Investment in Kraken*		597		597		597		597
Investment in Epic Games*		3,500		3,500		3,500		2,627
Investment in Tesspay**		1,240		2,679		1,240		3,351
Investment in SpaceX*		3,500		4,867		-		-
Investment in Databricks*		1,200		842		1,200		842
Investment in Discord		476		476		476		476
Investment in Thrasio		300		300		300		-
Investment in Automation Anywhere		476		476		476		476
Investment in XAI*		-		-		100		100
Investment in Cerebras*		-		-		25		25
Investment in Anduril*		476		476		476		379
Total	$	20,922	$	24,150	$	17,547	$	15,285

Investments made in these companies are through a Special Purpose Vehicle (“SPV”). The SPV is the holder of the actual stock. The Company does not hold these stock certificates directly.

Investments made in these companies are through both an SPV and direct investments.

Investment in SpaceX

Investment in xAI

Investment in Cerebras

Investment in Unusual Machines

Investment in Tevva Motors

Investment in Tesspay

Investment in Anduril

Investment in Thrasio

Investment in Epic Games

Notes Receivable

6 Months Ended

Jun. 30, 2024

Notes Receivable [Abstract]

Notes Receivable

Note 6. Notes Receivable

The following table presents the Company’s notes receivable as of June 30, 2024 and December 31, 2023 ($ in thousands):

June 30, 2024

	Maturity Date	Stated Interest Rate			Principal Amount		Interest Receivable		Fair Value
Notes receivable, at fair value
Convergent convertible note	12/2/2024		8	%	$	500	$	-	$	556
Raefan Industries LLC	12/31/2024		8	%	$	407	$	-	$	407
American Innovative Robotics	04/01/2027		8	%	$	1,106	$	22	$	1,128

Notes receivable, at fair value - current portion									$	964

Notes receivable, at fair value - non-current portion									$	1,128

December 31, 2023

	Maturity Date	Stated Interest Rate			Principal Amount		Interest Receivable		Fair Value
Notes receivable, at fair value
Convergent convertible note	12/2/2024		8	%	$	1,006	$	58	$	1,064
Raefan Industries LLC	12/31/2024		8	%	$	1,363	$	751	$	2,114
American Innovative Robotics	04/01/2027		8	%	$	1,106	$	22	$	1,129

Notes receivable, at fair value - current portion									$	3,177

Notes receivable, at fair value - non-current portion									$	1,129

Convergent Therapeutics, Inc.

Raefan Industries LLC

American Innovative Robotics, LLC

The Company recorded interest income of approximately $22,440, and an unrealized loss on the note of approximately $1,008 on the Robotics Promissory Note for the six three months ended June 30, 2024.

The Company recorded interest income of approximately $44,000, and an unrealized loss on the note of approximately $1,000 on the Robotics Promissory Note for the six months ended June 30, 2024.

Fair Value of Financial Assets and Liabilities

6 Months Ended

Jun. 30, 2024

Fair Value of Financial Assets and Liabilities [Abstract]

Fair Value of Financial Assets and Liabilities

Note 7. Fair Value of Financial Assets and Liabilities

The Company uses three levels of inputs that may be used to measure fair value:

Level 1 - quoted prices in active markets for identical assets or liabilities

Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable

Level 3 - inputs that are unobservable (for example, cash flow modeling inputs based on assumptions)

The following table presents the Company’s assets and liabilities that are measured at fair value as of June 30, 2024, and December 31, 2023 ($ in thousands):

	Fair value measured as of June 30, 2024
	Total at June 30,		Quoted prices in active markets		Significant other observable inputs		Significant unobservable inputs
	2024		(Level 1)		(Level 2)		(Level 3)
Assets
Marketable securities:
Equities	$	6,320	$	6,320	$	-	$	-
Total marketable securities	$	6,320	$	6,320	$	-	$	-
Notes receivable at fair value, current portion	$	964	$	-	$	-	$	964
Notes receivable at fair value, non-current portion	$	1,128	$	-	$	-	$	1,128

	Fair value measured as of December 31, 2023
	Total at December 31,		Quoted prices in active markets		Significant other observable inputs		Significant unobservable inputs
	2023		(Level 1)		(Level 2)		(Level 3)
Assets
Marketable securities:
Equities	$	13,547	$	13,547	$	-	$	-
Total marketable securities	$	13,547	$	13,547	$	-	$	-
Notes receivable at fair value, current portion	$	3,177	$	-	$	-	$	3,177
Notes receivable at fair value, non-current portion	$	1,129	$	-	$	-	$	1,129

Level 3 Measurement

The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial assets that are measured at fair value on a recurring basis ($ in thousands):

June 30, 2024

Notes receivable at fair value, current portion at December 31, 2023	$	3,177
Collection of principal outstanding		(500	)
Realized and unrealized gain (loss) on note receivable, net		(1,657	)
Change in interest receivable		(56	)
Notes receivable at fair value, current portion at June 30, 2024	$	964

Notes receivable at fair value, non-current portion at December 31, 2023	$	1,129
Unrealized gain (loss) on notes receivable		(1	)
Notes receivable at fair value, non-current portion at June 30, 2024	$	1,128

June 30, 2023

Short-term investment at December 31, 2022	$	13
Short-term investment at June 30, 2023	$	13

Notes receivable at fair value, current portion at December 31, 2022	$	7,474
Collection of principal outstanding		(500	)
Note receivable, Convergent Therapeutics, non-current portion		(500	)
Unrealized loss on note receivable		(212	)
Accrued interest receivable		77
Notes receivable at fair value, current portion at June 30, 2023	$	6,339

Notes receivable at fair value, non-current portion at December 31, 2022	$	1,100
Note receivable, Convergent Therapeutics, non-current portion		500
Accrued interest receivable		22
Notes receivable at fair value, non-current portion at June 30, 2023	$	1,622

Notes Receivable at fair value

Leases

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

Note 8. Leases

The tables below represent the Company’s lease assets and liabilities as of June 30, 2024:

	June 30, 2024
Assets:
Operating lease right-of-use-assets	$	3,146

Liabilities:
Current
Operating		429
Long-term
Operating		2,815
	$	3,244

The following tables summarize quantitative information about the Company’s operating leases, under the adoption of ASC 842:

	June 30, 2024
Weighted-average remaining lease term – operating leases (in years)		6.0
Weighted-average discount rate – operating leases		10.0	%

During the three and six months ended June 30, 2024 and 2023, the Company recorded approximately $0.2 million, respectively, of lease expense to current period operations.

	Three Months Ended		Six Months Ended
	June 30, 2024		June 30, 2024
Operating leases
Operating lease cost	$	178	$	356
Operating lease expense		178		356
Short-term lease rent expense		23		45
Net rent expense	$	201	$	401

	Three Months Ended		Six Months Ended
	June 30, 2023		June 30, 2023
Operating leases
Operating lease cost	$	179	$	313
Operating lease expense		179		313
Short-term lease rent expense		33		63
Net rent expense	$	212	$	376

Supplemental cash flow information related to leases were as follows:

	Six Months Ended
	June 30, 2024
Operating cash flows - operating leases	$	374

As of June 30, 2024, future minimum payments during the next five years and thereafter are as follows:

	Operating
	Leases
Remaining Period Ended December 31, 2024		373
Year Ended December 31, 2025		685
Year Ended December 31, 2026		685
Year Ended December 31, 2027		685
Year Ended December 31, 2028		766
Thereafter		1,160
Total		4,354
Less present value discount		(1,110	)
Operating lease liabilities	$	3,244

Net Loss Per Share

6 Months Ended

Jun. 30, 2024

Net Loss per Share [Abstract]

Net Loss per Share

Note 9. Net Loss per Share

	As of June 30,
	2024		2023
Convertible preferred stock		34		34
Warrants to purchase common stock		444,796		444,796
Restricted stock awards		104,206		-
Options to purchase common stock		420,060		31,193
Total		969,096		476,023

Stockholders’ Equity and Convertible Preferred Stock

6 Months Ended

Jun. 30, 2024

Stockholders’ Equity and Convertible Preferred Stock [Abstract]

Stockholders’ Equity and Convertible Preferred Stock

Note 10. Stockholders’ Equity and Convertible Preferred Stock

Common Stock

As of June 30, 2024, there are 6,304,183 shares of common stock issued and 6,244,035 shares outstanding.

Treasury Stock

There are 60,148 shares of treasury stock as of June 30, 2024.

Warrants

A summary of warrant activity for the three months ended June 30, 2024, is presented below:

	Warrants		Weighted Average Exercise Price		Total Intrinsic Value		Weighted Average Remaining Contractual Life (in years)
Outstanding as of December 31, 2023		444,796	$	29.25		-		2.20
Granted		-	$	-		-		-
Outstanding as of June 30, 2024		444,796	$	29.25		-		1.70

Restricted Stock Awards

A summary of restricted stock awards activity for the three months ended June 30, 2024, is presented below:

	Number of Restricted Stock Awards			Weighted Average Grant Day Fair Value
Nonvested at December 31, 2023		136,309		$	2.26
Granted		309,118		$	2.18
Vested		(309,118	)	$	2.18
Nonvested at June 30, 2024		136,309		$	2.26

As of June 30, 2024, there is approximately $0.2 million unrecognized stock-based compensation expense related to restricted stock awards.

Stock Options

A summary of option activity under the Company’s stock option plan for the three months ended June 30, 2024, is presented below:

	Number of Shares			Weighted Average Exercise Price		Total Intrinsic Value		Weighted Average Remaining Contractual Life (in years)
Outstanding as of December 31, 2023		420,168		$	5.80	$	-		9.3
Employee options expired		(108	)	$	5,161.54		-		-
Outstanding as of June 30, 2024		420,060		$	4.48	$	-		8.8
Options vested and exercisable		132,439		$	6.77	$	-		8.5

Estimated future stock-based compensation expense relating to unvested stock options is approximately $0.4 million.

Revenue

6 Months Ended

Jun. 30, 2024

Revenue [Abstract]

Revenue

Note 11. Revenue

The following table presents our total revenue disaggregated by revenue type for the three months ended June 30, 2024 and 2023 (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Underwriting	$	312	$	43	$	721	$	43
Commissions		1,775		14		2,085		14
Advisory fees		96		-		437		-
Manager fee		334		-		334		-
Placement fee		3,411		-		3,668		-
Other		246		14		296		14
Total	$	6,174	$	71	$	7,541	$	71

Commitments and Contingencies

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies [Abstract]

Commitments and Contingencies

Note 12. Commitments and Contingencies

Legal Proceedings

Regulatory

6 Months Ended

Jun. 30, 2024

Regulatory [Abstract]

Regulatory

Note 13. Regulatory

Related Party Transaction

6 Months Ended

Jun. 30, 2024

Related Party Transaction

Note 14. Related Party Transaction

Segment Reporting

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Segment Reporting

Note 15. Segment Reporting

The measures of segment profitability that are most relied upon by the CODM are gross revenue and net loss, as presented within the table below and reconciled to the statement of operations.

	Three Months Ended June 30, 2024
	Dominari Financial			Legacy AIkido Pharma			Consolidated
Revenue	$	5,503		$	671		$	6,174
Operating Costs		-			-			-
General and administrative		6,035			2,875			8,910
Research and development		-			-			-
Loss from operations		(532	)		(2,204	)		(2,736	)

Other (expenses) income		-			-			-
Other income		-			-			-
Interest income		205			80			285
Gain on marketable securities		-			104			104
Unrealized loss on note receivable		-			(742	)		(742	)
Change in fair value of investments		-			(3,031	)		(3,031	)
Total other (expenses) income		205			(5,588	)		(3,384	)
Net loss	$	(328	)	$	(5,792	)	$	(6,120	)

	Six Months Ended June 30, 2024
	Dominari Financial			Legacy AIkido Pharma			Consolidated
Revenue	$	6,870		$	671		$	7,541
Operating Costs
General and administrative		8,746			4,336			13,082
Research and development		-						-
Loss from operations		(1,876	)		(3,665	)		(5,541	)

Other (expenses) income
Other income		-			-			-
Interest income		341			108			449
Gain on marketable securities		-			678			678
Unrealized loss on note receivable		-			(1,657	)		(1,657	)
Change in fair value of investments		-			(5,490	)		(5,490	)
Total other (expenses) income		341			(6,361	)		(6,020	)
Net loss	$	(1,535	)	$	(10,026	)	$	(11,561	)

Income Taxes

6 Months Ended

Jun. 30, 2024

Income Taxes [Abstract]

Income Taxes

Note 16. Income Taxes

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (6,120)	$ (8,663)	$ (11,561)	$ (12,425)

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Accounting Policies, by Policy (Policies)

6 Months Ended

Jun. 30, 2024

Summary of Significant Accounting Policies [Abstract]

Basis of Presentation and Principles of Consolidation

Basis of Presentation and Principles of Consolidation

Use of Estimates

Use of Estimates

Deposits with clearing broker

Deposits with clearing broker

Leases

Leases

Revenue

Revenue

The following provides detailed information on the recognition of the Company’s revenue from contracts with customers:

●

Long-term equity investments

Long-term equity investments

Recently adopted accounting standards

Recently adopted accounting standards

Effect of new accounting pronouncements to be adopted in future periods

Effect of new accounting pronouncements to be adopted in future periods

Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2024

Marketable Securities [Abstract]

Schedule of Marketable Securities

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Realized gain (loss)	$	2,360		$	(432	)	$	3,330		$	(487	)
Unrealized gain (loss)		(2,353	)		643			(2,940	)		514
Dividend income		97			189			288			308
Total	$	104		$	400		$	678		$	335

Long-Term Equity Investments (Tables)

6 Months Ended

Jun. 30, 2024

Long-Term Equity Investments [Abstract]

Schedule of Long-Term Investments

The following table presents the Company’s long-term investments as of June 30, 2024, and December 31, 2023 ($ in thousands):

	Cost Basis as of December 31, 2023		December 31, 2023		Cost Basis as of June 30, 2024		June 30, 2024
Investment in Kerna Health Inc	$	2,140	$	4,940	$	2,140	$	4,940
Investment in Kaya Now		1,500		-		1,500		-
Investment in Tevva Motors*		1,972		2,794		1,972		-
Investment in ASP Isotopes		1,300		-		1,300		-
Investment in Unusual Machines		1,075		1,033		1,075		302
Investment in Qxpress*		1,000		1,000		1,000		1,000
Investment in Masterclass*		170		170		170		170
Investment in Kraken*		597		597		597		597
Investment in Epic Games*		3,500		3,500		3,500		2,627
Investment in Tesspay**		1,240		2,679		1,240		3,351
Investment in SpaceX*		3,500		4,867		-		-
Investment in Databricks*		1,200		842		1,200		842
Investment in Discord		476		476		476		476
Investment in Thrasio		300		300		300		-
Investment in Automation Anywhere		476		476		476		476
Investment in XAI*		-		-		100		100
Investment in Cerebras*		-		-		25		25
Investment in Anduril*		476		476		476		379
Total	$	20,922	$	24,150	$	17,547	$	15,285

Investments made in these companies are through a Special Purpose Vehicle (“SPV”). The SPV is the holder of the actual stock. The Company does not hold these stock certificates directly.

Investments made in these companies are through both an SPV and direct investments.

Notes Receivable (Tables)

6 Months Ended

Jun. 30, 2024

Notes Receivable [Abstract]

Schedule of Notes Receivable

The following table presents the Company’s notes receivable as of June 30, 2024 and December 31, 2023 ($ in thousands):

	Maturity Date	Stated Interest Rate			Principal Amount		Interest Receivable		Fair Value
Notes receivable, at fair value
Convergent convertible note	12/2/2024		8	%	$	500	$	-	$	556
Raefan Industries LLC	12/31/2024		8	%	$	407	$	-	$	407
American Innovative Robotics	04/01/2027		8	%	$	1,106	$	22	$	1,128

Notes receivable, at fair value - current portion									$	964

Notes receivable, at fair value - non-current portion									$	1,128

	Maturity Date	Stated Interest Rate			Principal Amount		Interest Receivable		Fair Value
Notes receivable, at fair value
Convergent convertible note	12/2/2024		8	%	$	1,006	$	58	$	1,064
Raefan Industries LLC	12/31/2024		8	%	$	1,363	$	751	$	2,114
American Innovative Robotics	04/01/2027		8	%	$	1,106	$	22	$	1,129

Notes receivable, at fair value - current portion									$	3,177

Notes receivable, at fair value - non-current portion									$	1,129

Fair Value of Financial Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value of Financial Assets and Liabilities [Abstract]

Schedule of Assets and Liabilities are Measured at Fair Value

The following table presents the Company’s assets and liabilities that are measured at fair value as of June 30, 2024, and December 31, 2023 ($ in thousands):

	Fair value measured as of June 30, 2024
	Total at June 30,		Quoted prices in active markets		Significant other observable inputs		Significant unobservable inputs
	2024		(Level 1)		(Level 2)		(Level 3)
Assets
Marketable securities:
Equities	$	6,320	$	6,320	$	-	$	-
Total marketable securities	$	6,320	$	6,320	$	-	$	-
Notes receivable at fair value, current portion	$	964	$	-	$	-	$	964
Notes receivable at fair value, non-current portion	$	1,128	$	-	$	-	$	1,128

	Fair value measured as of December 31, 2023
	Total at December 31,		Quoted prices in active markets		Significant other observable inputs		Significant unobservable inputs
	2023		(Level 1)		(Level 2)		(Level 3)
Assets
Marketable securities:
Equities	$	13,547	$	13,547	$	-	$	-
Total marketable securities	$	13,547	$	13,547	$	-	$	-
Notes receivable at fair value, current portion	$	3,177	$	-	$	-	$	3,177
Notes receivable at fair value, non-current portion	$	1,129	$	-	$	-	$	1,129

Schedule of Financial Assets that are Measured at Fair Value on a Recurring Basis

The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial assets that are measured at fair value on a recurring basis ($ in thousands):

Notes receivable at fair value, current portion at December 31, 2023	$	3,177
Collection of principal outstanding		(500	)
Realized and unrealized gain (loss) on note receivable, net		(1,657	)
Change in interest receivable		(56	)
Notes receivable at fair value, current portion at June 30, 2024	$	964

Notes receivable at fair value, non-current portion at December 31, 2023	$	1,129
Unrealized gain (loss) on notes receivable		(1	)
Notes receivable at fair value, non-current portion at June 30, 2024	$	1,128

Short-term investment at December 31, 2022	$	13
Short-term investment at June 30, 2023	$	13

Notes receivable at fair value, current portion at December 31, 2022	$	7,474
Collection of principal outstanding		(500	)
Note receivable, Convergent Therapeutics, non-current portion		(500	)
Unrealized loss on note receivable		(212	)
Accrued interest receivable		77
Notes receivable at fair value, current portion at June 30, 2023	$	6,339

Notes receivable at fair value, non-current portion at December 31, 2022	$	1,100
Note receivable, Convergent Therapeutics, non-current portion		500
Accrued interest receivable		22
Notes receivable at fair value, non-current portion at June 30, 2023	$	1,622

Leases (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Schedule of Lease Assets and Liabilities

The tables below represent the Company’s lease assets and liabilities as of June 30, 2024:

	June 30, 2024
Assets:
Operating lease right-of-use-assets	$	3,146

Liabilities:
Current
Operating		429
Long-term
Operating		2,815
	$	3,244

Schedule of Quantitative Information about the Company’s Operating Leases

The following tables summarize quantitative information about the Company’s operating leases, under the adoption of ASC 842:

	June 30, 2024
Weighted-average remaining lease term – operating leases (in years)		6.0
Weighted-average discount rate – operating leases		10.0	%

Schedule of Lease Expense to Current Period Operations

During the three and six months ended June 30, 2024 and 2023, the Company recorded approximately $0.2 million, respectively, of lease expense to current period operations.

	Three Months Ended		Six Months Ended
	June 30, 2024		June 30, 2024
Operating leases
Operating lease cost	$	178	$	356
Operating lease expense		178		356
Short-term lease rent expense		23		45
Net rent expense	$	201	$	401

	Three Months Ended		Six Months Ended
	June 30, 2023		June 30, 2023
Operating leases
Operating lease cost	$	179	$	313
Operating lease expense		179		313
Short-term lease rent expense		33		63
Net rent expense	$	212	$	376

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases were as follows:

	Six Months Ended
	June 30, 2024
Operating cash flows - operating leases	$	374

Schedule of Future Minimum Payments

As of June 30, 2024, future minimum payments during the next five years and thereafter are as follows:

	Operating
	Leases
Remaining Period Ended December 31, 2024		373
Year Ended December 31, 2025		685
Year Ended December 31, 2026		685
Year Ended December 31, 2027		685
Year Ended December 31, 2028		766
Thereafter		1,160
Total		4,354
Less present value discount		(1,110	)
Operating lease liabilities	$	3,244

Net Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2024

Net Loss per Share [Abstract]

Schedule of Computation of Diluted Loss Per Share

Securities that could potentially dilute loss per share in the future that were not included in the computation of diluted loss per share for the six months ended June 30, 2024, and 2023 are as follows:

	As of June 30,
	2024		2023
Convertible preferred stock		34		34
Warrants to purchase common stock		444,796		444,796
Restricted stock awards		104,206		-
Options to purchase common stock		420,060		31,193
Total		969,096		476,023

Stockholders’ Equity and Convertible Preferred Stock (Tables)

6 Months Ended

Jun. 30, 2024

Stockholders’ Equity and Convertible Preferred Stock [Abstract]

Schedule of Warrant Activity

A summary of warrant activity for the three months ended June 30, 2024, is presented below:

	Warrants		Weighted Average Exercise Price		Total Intrinsic Value		Weighted Average Remaining Contractual Life (in years)
Outstanding as of December 31, 2023		444,796	$	29.25		-		2.20
Granted		-	$	-		-		-
Outstanding as of June 30, 2024		444,796	$	29.25		-		1.70

Schedule of Restricted Stock Awards Activity

A summary of restricted stock awards activity for the three months ended June 30, 2024, is presented below:

	Number of Restricted Stock Awards			Weighted Average Grant Day Fair Value
Nonvested at December 31, 2023		136,309		$	2.26
Granted		309,118		$	2.18
Vested		(309,118	)	$	2.18
Nonvested at June 30, 2024		136,309		$	2.26

Schedule of Stock Option Activity

A summary of option activity under the Company’s stock option plan for the three months ended June 30, 2024, is presented below:

	Number of Shares			Weighted Average Exercise Price		Total Intrinsic Value		Weighted Average Remaining Contractual Life (in years)
Outstanding as of December 31, 2023		420,168		$	5.80	$	-		9.3
Employee options expired		(108	)	$	5,161.54		-		-
Outstanding as of June 30, 2024		420,060		$	4.48	$	-		8.8
Options vested and exercisable		132,439		$	6.77	$	-		8.5

Revenue (Tables)

6 Months Ended

Jun. 30, 2024

Revenue [Abstract]

Schedule of Total Revenues Disaggregated by Revenue Type

The following table presents our total revenue disaggregated by revenue type for the three months ended June 30, 2024 and 2023 (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Underwriting	$	312	$	43	$	721	$	43
Commissions		1,775		14		2,085		14
Advisory fees		96		-		437		-
Manager fee		334		-		334		-
Placement fee		3,411		-		3,668		-
Other		246		14		296		14
Total	$	6,174	$	71	$	7,541	$	71

Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Segment Profitability that are Most Relied Upon by the Codm are Gross Revenue and Net Loss

The measures of segment profitability that are most relied upon by the CODM are gross revenue and net loss, as presented within the table below and reconciled to the statement of operations.

	Three Months Ended June 30, 2024
	Dominari Financial			Legacy AIkido Pharma			Consolidated
Revenue	$	5,503		$	671		$	6,174
Operating Costs		-			-			-
General and administrative		6,035			2,875			8,910
Research and development		-			-			-
Loss from operations		(532	)		(2,204	)		(2,736	)

Other (expenses) income		-			-			-
Other income		-			-			-
Interest income		205			80			285
Gain on marketable securities		-			104			104
Unrealized loss on note receivable		-			(742	)		(742	)
Change in fair value of investments		-			(3,031	)		(3,031	)
Total other (expenses) income		205			(5,588	)		(3,384	)
Net loss	$	(328	)	$	(5,792	)	$	(6,120	)

	Six Months Ended June 30, 2024
	Dominari Financial			Legacy AIkido Pharma			Consolidated
Revenue	$	6,870		$	671		$	7,541
Operating Costs
General and administrative		8,746			4,336			13,082
Research and development		-						-
Loss from operations		(1,876	)		(3,665	)		(5,541	)

Other (expenses) income
Other income		-			-			-
Interest income		341			108			449
Gain on marketable securities		-			678			678
Unrealized loss on note receivable		-			(1,657	)		(1,657	)
Change in fair value of investments		-			(5,490	)		(5,490	)
Total other (expenses) income		341			(6,361	)		(6,020	)
Net loss	$	(1,535	)	$	(10,026	)	$	(11,561	)

Organization and Description of Business and Recent Developments (Details) - USD ($) $ in Millions		6 Months Ended
	Oct. 04, 2022	Jun. 30, 2024	Sep. 09, 2022
Organization and Description of Business and Recent Developments [Line Items]
Seller paid (in Dollars)	$ 2.0
Additional seller paid (in Dollars)		$ 1.4
FPS Purchase Agreement [Member]
Organization and Description of Business and Recent Developments [Line Items]
Membership interests	20.00%	80.00%	100.00%
Dominari Financial Heritage Strategies LLC [Member]
Organization and Description of Business and Recent Developments [Line Items]
Ownership interests		50.00%

Summary of Significant Accounting Policies (Details) $ in Millions	Jun. 30, 2024 USD ($)
Summary of Significant Accounting Policies [Abstract]
Money market funds	$ 13.4

Marketable Securities (Details) - Schedule of Marketable Securities - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Schedule of Marketable Securities [Abstract]
Realized gain (loss)	$ 2,360	$ (432)	$ 3,330	$ (487)
Unrealized gain (loss)	(2,353)	643	(2,940)	514
Dividend income	97	189	288	308
Total	$ 104	$ 400	$ 678	$ 335

Long-Term Equity Investments (Details) - USD ($)					3 Months Ended			6 Months Ended		12 Months Ended
Long-Term Equity Investments (Details) - USD ($)	Jun. 17, 2024	May 02, 2024	Mar. 23, 2022	Mar. 22, 2022	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Apr. 30, 2024	Feb. 14, 2024	Apr. 30, 2022
Long-Term Equity Investments [Line Items]
Unrealized losses on long term investments					$ 3,000,000			$ 5,500,000
Unrealized loss on investment					$ (2,353,000)		$ 643,000	$ (2,940,000)	$ 514,000
Public offering price (in Dollars per share)												$ 4
Market price, per share (in Dollars per share)					$ 1.3			$ 1.3
Investment value								$ 0		$ 2,800,000
Investment in SpaceX [Member]
Long-Term Equity Investments [Line Items]
Unrealized loss on investment						$ 1,400,000
Redeemed shares (in Shares)								36,842
Redeemed shares, value								$ 3,500,000
Investment in XAI [Member]
Long-Term Equity Investments [Line Items]
Redeemed shares, value		$ 100,000
Agreed to purchase shares (in Shares)		100,000
Investment in Cerebras [Member]
Long-Term Equity Investments [Line Items]
Redeemed shares, value	$ 25,000
Agreed to purchase shares (in Shares)	25,000
Investment in Tevva Motors [Member]
Long-Term Equity Investments [Line Items]
Investment value								2,800,000
Investment in Tesspay [Member]
Long-Term Equity Investments [Line Items]
Unrealized loss on investment								700,000
Agreed to purchase shares (in Shares)			1,000,000
Investment value								3,400,000		2,700,000
Common Stock of Tesspay			$ 200,000
Invested an additional amount			$ 1,000,000
Investment in Anduril [Member]
Long-Term Equity Investments [Line Items]
Investment value								400,000		500,000
Fund raising								1,500,000,000
Impairment charge								100,000
Investment in Thrasio [Member]
Long-Term Equity Investments [Line Items]
Investment value								0		300,000
Impairment charge								300,000
Investment in Epic Games [Member]
Long-Term Equity Investments [Line Items]
Unrealized loss on investment								900,000
Agreed to purchase shares (in Shares)				901
Investment value				$ 1,500,000				$ 2,700,000		3,500,000
Invested an additional amount													$ 2,000,000
Fund raising										$ 1,500,000,000
Minimum [Member]
Long-Term Equity Investments [Line Items]
Market price, per share (in Dollars per share)											$ 5
Maximum [Member]
Long-Term Equity Investments [Line Items]
Market price, per share (in Dollars per share)											$ 6

Long-Term Equity Investments (Details) - Schedule of Long-Term Investments - USD ($)
$ in Thousands

Jun. 30, 2024

Dec. 31, 2023

Schedule of Long-Term Investments [Line Items]

Long-term investments, Cost Basis

$ 17,547

$ 20,922

Long-term investments, Total

15,285

24,150

Investment In Kerna Health Inc [Member]

Schedule of Long-Term Investments [Line Items]

Long-term investments, Cost Basis

2,140

Long-term investments, Total

4,940

Investment in Kaya Now [Member]

Schedule of Long-Term Investments [Line Items]

Long-term investments, Cost Basis

1,500

Long-term investments, Total

Investment in Tevva Motors [Member]

Schedule of Long-Term Investments [Line Items]

Long-term investments, Cost Basis

^[1]

1,972

Long-term investments, Total

^[1]

2,794

Investment in ASP Isotopes [Member]

Schedule of Long-Term Investments [Line Items]

Long-term investments, Cost Basis

1,300

Long-term investments, Total

Investment in Unusual Machines [Member]

Schedule of Long-Term Investments [Line Items]

Long-term investments, Cost Basis

1,075

Long-term investments, Total

302

1,033

Investment in Qxpress [Member]

Schedule of Long-Term Investments [Line Items]

Long-term investments, Cost Basis

^[1]

1,000

Long-term investments, Total

1,000

^[1]

Investment in Masterclass [Member]

Schedule of Long-Term Investments [Line Items]

Long-term investments, Cost Basis

^[1]

170

Long-term investments, Total

170

^[1]

Investment in Kraken [Member]

Schedule of Long-Term Investments [Line Items]

Long-term investments, Cost Basis

^[1]

597

Long-term investments, Total

597

^[1]

Investment in Epic Games [Member]

Schedule of Long-Term Investments [Line Items]

Long-term investments, Cost Basis

^[1]

3,500

Long-term investments, Total

2,627

3,500

^[1]

Investment in Tesspay [Member]

Schedule of Long-Term Investments [Line Items]

Long-term investments, Cost Basis

^[2]

1,240

Long-term investments, Total

3,351

2,679

^[2]

Investment in SpaceX [Member]

Schedule of Long-Term Investments [Line Items]

Long-term investments, Cost Basis

^[1]

3,500

Long-term investments, Total

^[1]

4,867

Investment in Databricks [Member]

Schedule of Long-Term Investments [Line Items]

Long-term investments, Cost Basis

^[1]

1,200

Long-term investments, Total

842

^[1]

Investment in Discord [Member]

Schedule of Long-Term Investments [Line Items]

Long-term investments, Cost Basis

^[1]

476

Long-term investments, Total

476

^[1]

Investment in Thrasio [Member]

Schedule of Long-Term Investments [Line Items]

Long-term investments, Cost Basis

^[1]

300

Long-term investments, Total

^[1]

300

Investment in Automation Anywhere [Member]

Schedule of Long-Term Investments [Line Items]

Long-term investments, Cost Basis

^[1]

476

Long-term investments, Total

476

^[1]

Investment in XAI [Member]

Schedule of Long-Term Investments [Line Items]

Long-term investments, Cost Basis

^[1]

100

Long-term investments, Total

100

^[1]

Investment in Cerebras [Member]

Schedule of Long-Term Investments [Line Items]

Long-term investments, Cost Basis

^[1]

Long-term investments, Total

^[1]

Investment in Anduril [Member]

Schedule of Long-Term Investments [Line Items]

Long-term investments, Cost Basis

^[1]

476

Long-term investments, Total

$ 379

$ 476

^[1]

[1]	Investments made in these companies are through a Special Purpose Vehicle (“SPV”). The SPV is the holder of the actual stock. The Company does not hold these stock certificates directly.
[2]	Investments made in these companies are through both an SPV and direct investments.

Notes Receivable (Details) - USD ($)	3 Months Ended	6 Months Ended
Notes Receivable (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2024
Notes Receivable [Line Items]
Interest income		$ 100,000
Unrealized loss	$ 700,000	1,700,000
Convergent Therapeutics, Inc. [Member]
Notes Receivable [Line Items]
Principal repayment	300,000	500,000
Interest income	59,000
Unrealized loss	9,000
Unrealized gain		50,000
Raefan Industries LLC [Member]
Notes Receivable [Line Items]
Unrealized loss	700,000	1,700,000
American Innovative Robotics, LLC [Member]
Notes Receivable [Line Items]
Interest income	22,440	44,000
Unrealized loss	$ 1,008	$ 1,000

Notes Receivable (Details) - Schedule of Notes Receivable - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Convergent convertible note [Member]
Notes receivable, at fair value
Maturity Date	Dec. 02, 2024	Dec. 02, 2024
Stated Interest Rate	8.00%	8.00%
Principal Amount	$ 500	$ 1,006
Interest Receivable		58
Fair Value	$ 556	$ 1,064
Raefan Industries LLC [Member]
Notes receivable, at fair value
Maturity Date	Dec. 31, 2024	Dec. 31, 2024
Stated Interest Rate	8.00%	8.00%
Principal Amount	$ 407	$ 1,363
Interest Receivable		751
Fair Value	$ 407	$ 2,114
American Innovative Robotics [Member]
Notes receivable, at fair value
Maturity Date	Apr. 01, 2027	Apr. 01, 2027
Stated Interest Rate	8.00%	8.00%
Principal Amount	$ 1,106	$ 1,106
Interest Receivable	22	22
Fair Value	1,128	1,129
Notes receivable, at fair value - current portion [Member]
Notes receivable, at fair value
Fair Value	964	3,177
Notes receivable, at fair value - non-current portion [Member]
Notes receivable, at fair value
Fair Value	$ 1,128	$ 1,129

Fair Value of Financial Assets and Liabilities (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Fair Value of Financial Assets and Liabilities [Abstract]
Realized losses	$ 0.7	$ 1.7
Unrealized losses	$ 0.7	$ 1.7

Fair Value of Financial Assets and Liabilities (Details) - Schedule of Assets and Liabilities are Measured at Fair Value - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Dec. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Marketable securities:
Equities	$ 6,320	$ 13,547
Total marketable securities	6,320	13,547
Notes receivable at fair value, current portion	964	3,177
Notes receivable at fair value, non-current portion	1,128	1,129
Quoted prices in active markets (Level 1) [Member]
Marketable securities:
Equities	6,320	13,547
Total marketable securities	6,320	13,547
Notes receivable at fair value, current portion
Notes receivable at fair value, non-current portion
Significant other observable inputs (Level 2) [Member]
Marketable securities:
Equities
Total marketable securities
Notes receivable at fair value, current portion
Notes receivable at fair value, non-current portion
Significant unobservable inputs (Level 3) [Member]
Marketable securities:
Equities
Total marketable securities
Notes receivable at fair value, current portion	964	3,177	$ 3,177	$ 6,339	$ 7,474
Notes receivable at fair value, non-current portion	$ 1,128	$ 1,129		$ 1,622	$ 1,100

Fair Value of Financial Assets and Liabilities (Details) - Schedule of Financial Assets that are Measured at Fair Value on a Recurring Basis - Level 3 [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Notes receivable at fair value, current portion, Balance beginning	$ 3,177	$ 7,474
Notes receivable at fair value, non-current portion Balance beginning	1,129	1,100
Short-term investment		13	$ 13
Collection of principal outstanding	(500)	(500)
Unrealized loss on note receivable		(212)
Accrued interest receivable		77
Realized and unrealized gain (loss) on note receivable, net	(1,657)
Change in interest receivable	(56)
Notes receivable at fair value, current portion at Balance ending	964	6,339
Unrealized gain (loss) on notes receivable	(1)
Notes receivable at fair value, non-current portion Balance ending	$ 1,128	1,622
Accrued interest receivable		22
Convergent Therapeutics [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Note receivable, Convergent Therapeutics, non-current portion		(500)
Notes receivable at fair value, non-current portion Balance ending		$ 500

Leases (Details) - USD ($)			3 Months Ended		6 Months Ended
Leases (Details) - USD ($)	Jan. 11, 2023	Sep. 23, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jul. 11, 2022
Leases [Line Items]
Lease term		7 years				7 years
Lease rent expenses	$ 12,874
Increase rent amount		$ 51,868			$ 13,502
Rent payment		$ 49,368
Lease expenses			$ 200,000	$ 6,000,000

Leases (Details) - Schedule of Lease Assets and Liabilities - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets:
Operating lease right-of-use-assets	$ 3,146	$ 3,335
Liabilities:
Operating Current	429	421
Long-term
Operating Long-term	2,815	$ 3,028
Total	$ 3,244

Leases (Details) - Schedule of Quantitative Information about the Company’s Operating Leases	Jun. 30, 2024
Schedule of Summarize Quantitative Information about the Company’s Operating Leases [Line Items]
Weighted-average remaining lease term – operating leases (in years)	6 years
Weighted-average discount rate – operating leases	10.00%

Leases (Details) - Schedule of Lease Expense - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Schedule Of Lease Expense Abstract
Operating lease cost	$ 178	$ 179	$ 356	$ 313
Operating lease expense	178	179	356	313
Short-term lease rent expense	23	33	45	63
Net rent expense	$ 201	$ 212	$ 401	$ 376

Leases (Details) - Schedule of Supplemental Cash Flow Information Related to Leases $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Schedule of Supplemental Cash Flow Information Related to Leases [Abstract]
Operating cash flows - operating leases	$ 374

Leases (Details) - Schedule of Future Minimum Payments $ in Thousands	Jun. 30, 2024 USD ($)
Schedule of Future Minimum Payments [Abstract]
Remaining Period Ended December 31, 2024	$ 373
Year Ended December 31, 2025	685
Year Ended December 31, 2026	685
Year Ended December 31, 2027	685
Year Ended December 31, 2028	766
Thereafter	1,160
Total	4,354
Less present value discount	(1,110)
Operating lease liabilities	$ 3,244

Net Loss Per Share (Details) - Schedule of Computation of Diluted Loss Per Share - shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Schedule of Computation of Diluted Loss Per Share [Line Items]
Total diluted loss per share	969,096	476,023
Convertible preferred stock [Member]
Schedule of Computation of Diluted Loss Per Share [Line Items]
Total diluted loss per share	34	34
Warrants to purchase common stock [Member]
Schedule of Computation of Diluted Loss Per Share [Line Items]
Total diluted loss per share	444,796	444,796
Restricted stock awards [Member]
Schedule of Computation of Diluted Loss Per Share [Line Items]
Total diluted loss per share	104,206
Options to purchase common stock [Member]
Schedule of Computation of Diluted Loss Per Share [Line Items]
Total diluted loss per share	420,060	31,193

Stockholders’ Equity and Convertible Preferred Stock (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Jun. 11, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Dec. 31, 2023
Stockholders’ Equity and Convertible Preferred Stock [Line Items]
Common stock, shares issued (in Shares)		6,304,183		6,304,183	5,995,065
Common stock outstanding (in Shares)		6,244,035		6,244,035	5,934,917
Treasury stock shares (in Shares)		60,148		60,148	60,148
Total fair value	$ 700
Share based compensation expense		$ 100	$ 5,000
Unrecognized stock-based compensation expense		200		$ 200
Estimated future stock-based compensation expense				$ 400
Restricted Stock Awards [Member]
Stockholders’ Equity and Convertible Preferred Stock [Line Items]
Share based compensation expense		$ 75,000	$ 257
Common Stock [Member]
Stockholders’ Equity and Convertible Preferred Stock [Line Items]
Granted shares (in Shares)	154,559

Stockholders’ Equity and Convertible Preferred Stock (Details) - Schedule of Warrant Activity - Warrant [Member] - USD ($)		6 Months Ended
	Dec. 31, 2023	Jun. 30, 2024
Schedule of Warrant Activity [Line Items]
Number of shares, ending balance	444,796	444,796
Weighted Average per share, ending balance	$ 29.25	$ 29.25
Outstanding ending balance, Total Intrinsic Value
Outstanding ending balance, Weighted Average Remaining Contractual Life	2 years 2 months 12 days	1 year 8 months 12 days
Granted, Warrants
Granted, Weighted Average Exercise Price
Granted, Total Intrinsic Value
Granted, Weighted Average Remaining Contractual Life

Stockholders’ Equity and Convertible Preferred Stock (Details) - Schedule of Restricted Stock Awards Activity - Restricted Stock [Member]	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Schedule of Restricted Stock Awards Activity [Line Items]
Number of shares, beginning balance \| shares	136,309
Weighted Average per share, beginning balance \| $ / shares	$ 2.26
Number of shares, ending balance \| shares	136,309
Weighted Average per share, ending balance \| $ / shares	$ 2.26
Number of Restricted Stock Awards, Granted \| shares	309,118
Weighted Average Grant Day Fair Value, Granted \| $ / shares	$ 2.18
Number of Restricted Stock Awards, Vested \| shares	(309,118)
Weighted Average Grant Day Fair Value, Vested \| $ / shares	$ 2.18

Stockholders’ Equity and Convertible Preferred Stock (Details) - Schedule of Stock Option Activity - USD ($)		6 Months Ended
	Dec. 31, 2023	Jun. 30, 2024
Schedule of Stock Option Activity [Abstract]
Outstanding ending balance, Number of Shares	420,168	420,060
Outstanding ending balance, Weighted Average Exercise Price	$ 5.8	$ 4.48
Outstanding ending balance, Intrinsic Value
Outstanding ending balance, Weighted Average Remaining Contractual Life (in years)	9 years 3 months 18 days	8 years 9 months 18 days
Number of Shares, Options vested and exercisable		132,439
Weighted Average Exercise Price, Options vested and exercisable		$ 6.77
Total Intrinsic Value, Options vested and exercisable
Weighted Average Remaining Contractual Life (in years), Options vested and exercisable		8 years 6 months
Employee options expired, Number of Shares		(108)
Employee options expired, Weighted Average Exercise Price		$ 5,161.54
Employee options expired, Intrinsic Value
Employee options expired , Weighted Average Remaining Contractual Life (in years)

Revenue (Details) - Schedule of Total Revenues Disaggregated by Revenue Type - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total	$ 6,174	$ 71	$ 7,541	$ 71
Underwriting [Member]
Disaggregation of Revenue [Line Items]
Total revenue disaggregated	312	43	721	43
Commissions [Member]
Disaggregation of Revenue [Line Items]
Total revenue disaggregated	1,775	14	2,085	14
Advisory fees [Member]
Disaggregation of Revenue [Line Items]
Total revenue disaggregated	96		437
Manager fee [Member]
Disaggregation of Revenue [Line Items]
Total revenue disaggregated	334		334
Placement fee [Member]
Disaggregation of Revenue [Line Items]
Total revenue disaggregated	3,411		3,668
Other [Member]
Disaggregation of Revenue [Line Items]
Total revenue disaggregated	$ 246	$ 14	$ 296	$ 14

Regulatory (Details) $ in Millions	Jun. 30, 2024 USD ($)
Regulatory [Line Items]
Net capital requirement	$ 12.6
Excess amount	12.4
Minimum [Member]
Regulatory [Line Items]
Net capital requirement	$ 0.2

Related Party Transaction (Details) - USD ($)	3 Months Ended		6 Months Ended
Related Party Transaction (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Related Party Transaction [Line Items]
Incurred fees	$ 0	$ 80,000	$ 0	$ 80,000,000

Segment Reporting (Details)	6 Months Ended
Segment Reporting (Details)	Jun. 30, 2024
Segment Reporting [Abstract]
Reportable segments	2

Segment Reporting (Details) - Schedule of Segment Profitability that are Most Relied Upon by the Codm are Gross Revenue and Net Loss - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Dominari Financial [Member]
Schedule of Segment Profitability that are Most Relied Upon by the Codm are Gross Revenue and Net Loss [Line Items]
Revenue	$ 5,503	$ 6,870
Operating Costs
General and administrative	6,035	8,746
Research and development
Loss from operations	(532)	(1,876)
Other (expenses) income
Other income
Interest income	205	341
Gain on marketable securities
Unrealized loss on note receivable
Change in fair value of investments
Total other (expenses) income	205	341
Net loss	(328)	(1,535)
Legacy AIkido Pharma [Member]
Schedule of Segment Profitability that are Most Relied Upon by the Codm are Gross Revenue and Net Loss [Line Items]
Revenue	671	671
Operating Costs
General and administrative	2,875	4,336
Research and development
Loss from operations	(2,204)	(3,665)
Other (expenses) income
Other income
Interest income	80	108
Gain on marketable securities	104	678
Unrealized loss on note receivable	(742)	(1,657)
Change in fair value of investments	(3,031)	(5,490)
Total other (expenses) income	(5,588)	(6,361)
Net loss	(5,792)	(10,026)
Consolidated [Member]
Schedule of Segment Profitability that are Most Relied Upon by the Codm are Gross Revenue and Net Loss [Line Items]
Revenue	6,174	7,541
Operating Costs
General and administrative	8,910	13,082
Research and development
Loss from operations	(2,736)	(5,541)
Other (expenses) income
Other income
Interest income	285	449
Gain on marketable securities	104	678
Unrealized loss on note receivable	(742)	(1,657)
Change in fair value of investments	(3,031)	(5,490)
Total other (expenses) income	(3,384)	(6,020)
Net loss	$ (6,120)	$ (11,561)

Income Taxes (Details) - USD ($)	6 Months Ended
Income Taxes (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Income Taxes [Abstract]
Income tax expense

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