Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 708

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 13
Chunk 708
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 In  March 2017, the 2017 Convertible Note was issued to DGC Trust.  The Company incurred interest expense on the 2017 Convertible Note which is included in the table below.  
    
   C.  Duane Morris, LLP (“Duane Morris”)
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   Duane Morris is an international law firm and serves as legal counsel to the Company.  Duane Morris is considered a related party because a partner at Duane Morris is a member of the same household as a director of the Company.  Expense incurred by the Company for services provided by Duane Morris is included within professional fees and operating expense in the consolidated statements of operations and comprehensive income and are disclosed in the table below. 
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   D. Cohen Circle, LLC ("Cohen Circle")
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   The Company engaged Betsy Cohen, as an agent of Cohen Circle, as a consultant to provide certain services related to Insurance SPAC III. See note 12. The Company agreed to pay a consultant fee of $1 per month, which commenced on  December 1, 2020 and continued through  November 18, 2022, the date Insurance SPAC III announced that it would not consummate an initial business combination within the time period required. The expense incurred by the Company for the consulting services provided by Cohen Circle is included within professional fees and operating expense in the consolidated income statement and are disclosed in the table below. 
    
   The Company has a sublease agreement as sub-lessor for certain office space with Cohen Circle.  The Company received payments under this sublease agreement, which are recorded as a reduction in rent and utility expenses. This sublease agreement commenced on  August 1, 2018 and has a term that automatically renews for one year periods if not cancelled by either party upon 90 days’ notice prior to the end of the then-existing term.  The income earned pursuant to this sublease agreement is included as a reduction in rent expense in the consolidated statements of income and is disclosed in the table below.

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   E.  Investment Vehicles and Other 
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   Stoa USA Inc. / FlipOS
    
   Stoa USA Inc. / FlipOS was a private company in which the Company owned common equity. It was considered a related party because Daniel