Company: RILYN
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0001628280-25-001398
Chunk: 27

Company: B. Riley Financial, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 Freedom VCM totaled $63,674 and $287,043, respectively, and is included in securities and other investments owned, at fair value in the condensed consolidated balance sheets. The change in fair value recorded in the income statement was an unrealized loss of $180,964 and $223,369 for the three and six months ended June 30, 2024, respectively. Subsequent to June 30, 2024, Freedom VCM filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code on November 3, 2024 which impacts the future fair value of the investment in Freedom VCM. The fair value of the investment in Freedom VCM was reduced to zero at September 30, 2024 and a fair value adjustment of $(63,674) was recorded in the quarter ended September 30, 2024.Babcock and Wilcox Enterprises, Inc, Equity InvestmentThe Company owns a 30% voting interest in B&W whereby the Company has elected to account for this investment under the fair value option. The following tables contain summarized financial information with respect to B&W included below for purposes of the disclosure a quarter in arrears (balance sheet amounts as of March 31, 2024 and September 30, 2023 correspond to amounts as of June 30, 2024 and December 31, 2023, respectively, of the Company; income statement amounts during the three and six months ended March 31, 2024 and 2023 correspond to amounts during the three and six months ended June 30, 2024 and 2023, respectively, of the Company), which is the period in which the most recent financial information is available:March 31, 2024September 30, 2023Current assets$482,223 $542,300 Noncurrent assets$313,300 $294,979 Current liabilities$332,926 $393,539 Noncurrent liabilities$685,064 $585,430 Equity attributable to investee$(223,011)$(142,316)Noncontrolling interest$544 $626 

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For the three months ended March 31,For the six months ended March 31,2024202320242023Revenues$207,556 $241,258 $434,723 $477,682 Cost of revenues$159,075 $189,329 $330,627 $372,089