Bimini Capital Management (BMNM) 10-Q 14 Nov 22 2022 Q3 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	9 Months Ended
	Sep. 30, 2022	Nov. 14, 2022
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Registrant Name	Bimini Capital Management, Inc.
Entity Central Index Key	0001275477
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Interactive Data Current	Yes
Document Transition Report	false
Entity File Number	001-32171
Entity Incorporation, State Country Name	MD
Entity Tax ID Number	72-1571637
Entity Address Line 1	3305 Flamingo Drive
Entity Address City or Town	Vero Beach
Entity Address State or Province	FL
Entity Postal Zip Code	32963
City Area Code	772
Local Phone Number	231-1400
Document Quarterly Report	true
Class A Common Stock [Member]
Entity Common Stock Shares Outstanding		10,246,809
Class B Common Stock [Member]
Entity Common Stock Shares Outstanding		31,938
Class C Common Stock [Member]
Entity Common Stock Shares Outstanding		31,938

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Mortgage Backed Securities At Fair Value [Abstract]
Pledged to counterparties	$ 44,078,712	$ 60,788,129
Unpledged Mortgage Backed Securities	190,815	15,015
Total mortgage-backed securities	44,269,527	60,803,144
Cash and cash equivalents	5,861,597	8,421,410
Restricted cash	1,537,500	1,391,000
Orchid Island Capital, Inc. common stock, at fair value	4,256,384	11,679,107
Accrued interest receivable	200,104	229,942
Property and equipment, net	2,016,436	2,024,190
Deferred tax assets, net	36,607,388	35,036,312
Due From Affiliate	1,075,189	1,062,155
Other assets	1,045,417	1,437,381
Total Assets	96,869,542	122,084,641
Liabilities
Outstanding repurchase obligations	43,493,999	58,877,999
Long-term Debt, Gross	27,422,050	27,438,976
Accrued interest payable	134,738	55,610
Other Liabilities	1,470,900	2,712,206
Total Liabilities	72,521,687	89,084,791
Stockholders' Equity
Preferred stock	0	0
Common stock	10,311	10,766
Additional paid in capital	330,068,058	330,880,252
Accumulated deficit	(305,730,514)	(297,891,168)
Stockholders Equity	24,347,855	32,999,850
Total Liabilities and Stockholders' Equity	96,869,542	122,084,641
Class A Common Stock [Member]
Stockholders' Equity
Common stock	10,247	10,702
Class B Common Stock [Member]
Stockholders' Equity
Common stock	32	32
Class C Common Stock [Member]
Stockholders' Equity
Common stock	$ 32	$ 32

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Preferred Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Shares Authorized	10,000,000	10,000,000
Preferred Stock Value	$ 0	$ 0
Common Stock Value Outstanding	$ 10,311	$ 10,766
Class A Common Stock [Member]
Class of Stock [Line Items]
Common Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock Shares Authorized	98,000,000	98,000,000
Common Stock Shares Issued	10,246,809	10,702,194
Common Stock Shares Outstanding	10,246,809	10,702,194
Common Stock Value Outstanding	$ 10,247	$ 10,702
Class B Common Stock [Member]
Class of Stock [Line Items]
Common Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock Shares Authorized	1,000,000	1,000,000
Common Stock Shares Issued	31,938	31,938
Common Stock Shares Outstanding	31,938	31,938
Common Stock Value Outstanding	$ 32	$ 32
Class C Common Stock [Member]
Class of Stock [Line Items]
Common Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock Shares Authorized	1,000,000	1,000,000
Common Stock Shares Issued	31,938	31,938
Common Stock Shares Outstanding	31,938	31,938
Common Stock Value Outstanding	$ 32	$ 32
Preferred Undesignated [Member]
Class of Stock [Line Items]
Preferred Stock Par Or Stated Value Per Share	$ 0.001
Preferred Shares Authorized	9,900,000
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Shares Authorized	100,000	9,900,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues
Advisory services	$ 3,311,962	$ 2,546,578	$ 9,719,703	$ 6,757,799
Interest income	444,808	537,200	1,328,264	1,726,268
Orchid Island Capital, Inc. dividends	282,893	506,095	1,035,547	1,518,284
Total revenues	4,039,663	3,589,873	12,083,514	10,002,351
Interest expense on repurchase agreements	209,928	23,729	313,843	94,926
Interest Expense, Long-term Debt	378,752	248,465	938,557	747,577
Net revenues	3,450,983	3,317,679	10,831,114	9,159,848
Other income:
Unrealized (losses) gains on mortgage-backed securities	(2,572,296)	(323,659)	(6,605,850)	(2,221,521)
Realized gains on mortgage-backed securities	0	69,498	(858,001)	69,498
Unrealized losses on Orchid Island Capital, Inc. common stock	(3,140,383)	(778,607)	(7,422,723)	(856,468)
(Losses) gains on derivative instruments	844,188	(147)	794,500	(280)
Losses Gains On Retained Interests In Securitizations	65,928	0	65,928	0
Other expense, net	81	149	268	154,122
Total other income	(4,802,482)	(1,032,766)	(14,025,878)	(2,854,649)
Expenses
Compensation and related benefits	1,230,113	1,029,465	3,835,763	3,219,685
Directors fees and liability insurance	194,519	190,453	587,566	568,087
Audit, legal and other professional fees	103,090	133,925	370,323	405,828
Administrative and other expenses	549,585	298,719	1,422,006	939,966
Total expenses	2,077,307	1,652,562	6,215,658	5,133,566
Net (loss) income before income tax provision (benefit)	(3,428,806)	632,351	(9,410,422)	1,171,633
Income tax provision (benefit)	(255,618)	167,751	(1,571,076)	336,389
Net (loss) income	$ (3,173,188)	$ 464,600	$ (7,839,346)	$ 835,244
Class A Common Stock [Member]
Basic and Diluted Net (Loss) Income Per Share of:
Basic	$ (0.31)	$ 0.04	$ (0.75)	$ 0.07
Diluted	$ (0.31)	$ 0.04	$ (0.75)	$ 0.07
Weighted Average Shares Outstanding
Weighted Average Number of Shares Outstanding, Basic	10,288,785	10,866,087	10,467,091	11,358,346
Weighted Average Number of Shares Outstanding, Diluted	10,288,785	10,866,087	10,467,091	11,358,346
Class B Common Stock [Member]
Basic and Diluted Net (Loss) Income Per Share of:
Basic	$ (0.31)	$ 0.04	$ (0.75)	$ 0.07
Diluted	$ (0.31)	$ 0.04	$ (0.75)	$ 0.07
Weighted Average Shares Outstanding
Weighted Average Number of Shares Outstanding, Basic	31,938	31,938	31,938	31,938
Weighted Average Number of Shares Outstanding, Diluted	31,938	31,938	31,938	31,938

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock [Member]	Common Stock [Member]	Additional Paid In Capital [Member]	Retained Earnings [Member]
Beginning Balances at Dec. 31, 2020	$ 34,487,849		$ 11,673	$ 332,642,758	$ (298,166,582)
Increase (Decrease) in Stockholders' Equity
Net income	1,290,430		0	0	1,290,430
Ending Balances at Mar. 31, 2021	35,778,279		11,673	332,642,758	(296,876,152)
Common Stock Shares Outstanding, Beginning Balance at Dec. 31, 2020		11,672,431
Common Stock Shares Outstanding, Ending Balance at Mar. 31, 2021		11,672,431
Beginning Balances at Dec. 31, 2020	34,487,849		11,673	332,642,758	(298,166,582)
Increase (Decrease) in Stockholders' Equity
Net income	835,244
Ending Balances at Sep. 30, 2021	33,752,584		10,858	331,073,064	(297,331,338)
Common Stock Shares Outstanding, Beginning Balance at Dec. 31, 2020		11,672,431
Common Stock Shares Outstanding, Ending Balance at Sep. 30, 2021		10,858,357
Beginning Balances at Mar. 31, 2021	35,778,279		11,673	332,642,758	(296,876,152)
Increase (Decrease) in Stockholders' Equity
Net income	(919,786)		0	0	(919,786)
Ending Balances at Jun. 30, 2021	34,858,493		11,673	332,642,758	(297,795,938)
Common Stock Shares Outstanding, Beginning Balance at Mar. 31, 2021		11,672,431
Common Stock Shares Outstanding, Ending Balance at Jun. 30, 2021		11,672,431
Increase (Decrease) in Stockholders' Equity
Net income	464,600		0	0	464,600
Stock Repurchased And Retired During Period Value	1,570,509		815	1,569,694	0
Ending Balances at Sep. 30, 2021	33,752,584		10,858	331,073,064	(297,331,338)
Increase (Decrease) in Stockholders' Equity
Stock Repurchased and Retired During Period, Shares		814,074
Common Stock Shares Outstanding, Ending Balance at Sep. 30, 2021		10,858,357
Beginning Balances at Dec. 31, 2021	32,999,850		10,766	330,880,252	(297,891,168)
Increase (Decrease) in Stockholders' Equity
Net income	(3,479,584)		0	0	(3,479,584)
Stock Repurchased And Retired During Period Value	377,298		188	377,110	0
Ending Balances at Mar. 31, 2022	29,142,968		10,578	330,503,142	(301,370,752)
Common Stock Shares Outstanding, Beginning Balance at Dec. 31, 2021		10,766,070
Increase (Decrease) in Stockholders' Equity
Stock Repurchased and Retired During Period, Shares		188,280
Common Stock Shares Outstanding, Ending Balance at Mar. 31, 2022		10,577,790
Beginning Balances at Dec. 31, 2021	32,999,850		10,766	330,880,252	(297,891,168)
Increase (Decrease) in Stockholders' Equity
Net income	(7,839,346)
Ending Balances at Sep. 30, 2022	24,347,855		10,311	330,068,058	(305,730,514)
Common Stock Shares Outstanding, Beginning Balance at Dec. 31, 2021		10,766,070
Common Stock Shares Outstanding, Ending Balance at Sep. 30, 2022		10,310,685
Beginning Balances at Mar. 31, 2022	29,142,968		10,578	330,503,142	(301,370,752)
Increase (Decrease) in Stockholders' Equity
Net income	(1,186,574)		0	0	(1,186,574)
Stock Repurchased And Retired During Period Value	72,999		41	72,958	0
Ending Balances at Jun. 30, 2022	27,883,395		10,537	330,430,184	(302,557,326)
Common Stock Shares Outstanding, Beginning Balance at Mar. 31, 2022		10,577,790
Increase (Decrease) in Stockholders' Equity
Stock Repurchased and Retired During Period, Shares		41,135
Common Stock Shares Outstanding, Ending Balance at Jun. 30, 2022		10,536,655
Increase (Decrease) in Stockholders' Equity
Net income	(3,173,188)		0	0	(3,173,188)
Stock Repurchased And Retired During Period Value	(362,352)		(226)	(362,126)	0
Ending Balances at Sep. 30, 2022	$ 24,347,855		$ 10,311	$ 330,068,058	$ (305,730,514)
Increase (Decrease) in Stockholders' Equity
Stock Repurchased and Retired During Period, Shares		225,970
Common Stock Shares Outstanding, Ending Balance at Sep. 30, 2022		10,310,685

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$ (7,839,346)	$ 835,244
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation	53,930	51,937
Deferred income tax provision (benefit)	(1,571,076)	336,389
Losses (gains) on mortgage-backed securities	6,605,850	2,221,521
Realized Gains On Investments	(858,001)	69,498
Gains on retained interests in securitizations	(65,928)	0
PPP Loan Forgiveness	0	153,724
Unrealized losses on Orchid Island Capital, Inc. common stock	(7,422,723)	(856,468)
Changes in operating assets and liabilities
Accrued interest receivable	29,838	(45,524)
Due from affiliates	13,034	302,326
Other assets	391,964	(84,426)
Accrued interest payable	79,128	(51,990)
Other liabilities	(1,241,306)	(98,625)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	4,710,744	3,495,446
From mortgage-backed securities investments
Purchases	(21,009,391)	(26,189,505)
Sales	23,096,853	13,063,248
Principal repayments	6,982,304	11,762,188
Payments to Acquire Property, Plant, and Equipment	46,176	0
Proceeds From Collection Of Retained Interest In Securitized Receivables	65,928	0
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	9,089,518	(1,364,069)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from repurchase agreements	268,710,690	195,962,000
Principal payments on repurchase agreements	(284,094,690)	(197,873,114)
Repayments of Long-term Debt	16,926	16,108
Payments For Repurchase Of Common Stock	812,649	1,570,509
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(16,213,575)	(3,497,731)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(2,413,313)	(1,366,354)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period	9,812,410	10,911,357
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period	7,399,097	9,545,003
Cash paid during the period for:
Interest	$ 1,173,272	$ 896,052

ORGANIZATION AND SIGNIFICANT AC

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Organization and Significant Accounting Policies	NOTE 1. Business Bimini Capital Management, Inc., a Maryland corporation (“Bimini Capital” or the “Company”) holding company. Palm Capital LLC, which includes its wholly-owned subsidiary, Bimini Advisors Holdings, LLC. Bimini Advisors Holdings, LLC and its wholly-owned subsidiary, Bimini Advisors, LLC (an investment advisor registered Securities and Exchange Commission), are collectively referred to as mortgage-backed securities (“MBS”) portfolio for Orchid Island Capital, Inc. Effective April 1, 2022, Bimini Advisors started providing certain repurchase agreement Orchid that were previously provided by a third party. Bimini Advisors also manages the MBS portfolio of Royal Palm Capital, Royal Palm Capital, LLC maintains an investment portfolio, consisting primarily stock, for its own benefit. Royal Palm Capital, LLC and its wholly-owned subsidiaries Segment Reporting The Company’s operations are classified into two principal reportable segments: the asset investment portfolio segment. These segments are evaluated by management in deciding performance. exception that inter-segment revenues and expenses are included in the presentation Note 13. Consolidation The accompanying consolidated financial statements include the accounts of Bimini inter-company accounts and transactions have been eliminated from the consolidated Basis of The accompanying unaudited condensed consolidated financial statements principles generally accepted in the United States (“GAAP”) for interim financial Article 8 of Regulation S-X. financial statements. a fair presentation have been included. necessarily indicative of the results that may be expected for the year ending December The consolidated balance sheet at December 31, 2021 has been derived from the does not include all of the information and footnotes required by GAAP for information, refer to the financial statements and footnotes thereto included in the ended December 31, 2021. Use of Estimates The preparation of financial statements in conformity with GAAP requires management affect the reported amounts of assets and liabilities and disclosure of contingent assets financial statements and the reported amounts of revenues and expenses during those estimates. values of MBS and derivatives, the value of Orchid Common Stock, determining computation of the income tax provision or benefit and the deferred tax asset allowances Variable Interest Entities (“VIEs”) A variable interest entity ("VIE") is consolidated by an enterprise if it is deemed the has a common share investment in a trust used in connection with the issuance 7 for a description of the accounting used for this VIE. The Company obtains interests in VIEs through its investments in mortgage-backed passive in nature and are not expected to result in the Company obtaining a controlling a result, the Company does not consolidate these VIEs and accounts for the interest See Note 3 for additional information regarding the Company’s investments in mortgage-backed securities. loss for these VIEs is the carrying value of the mortgage-backed securities. Cash and Cash Equivalents and Restricted Cash Cash and three months derivative and December September 30, 2022 December 31, 2021 Cash and cash equivalents $ 5,861,597 $ 8,421,410 Restricted cash 1,537,500 1,391,000 Total cash, cash equivalents $ 7,399,097 $ 9,812,410 The Company may exceed Insurance Corporation uninsured, uninsured credit risk Advisory Services Orchid is the management overhead recognized Mortgage-Backed The Company invests primarily in mortgage pass-through (“PT”) mortgage-backed or Ginnie Mae (“MBS”), collateralized mortgage obligations (“CMOs”), interest-only securities representing interest in or obligations backed by pools of mortgage-backed as PT MBS. The Company refers MBS under the fair value option. statement of operations, which, in management’s view, more appropriately reflects the results of the Company’s operations for a particular reporting period and is consistent with the underlying economics and The Company records MBS transactions on the trade date. are included in the MBS balance with an offsetting liability recorded, whereas securities sold sheet date are removed from the MBS balance with an offsetting receivable recorded. Fair value is defined as the price that would be received to sell the asset or paid to between market participants at the measurement date. transfer the liability either occurs in the principal market for the asset or liability, or in the absence of a principal market, occurs most advantageous market for the asset or liability. Estimated fair values for MBS are based on independent pricing sources and/or third-party broker quotes, when available. Income on PT MBS is based on the stated interest rate of the security. Premiums or discounts present at the date of purchase not amortized. losses on MBS in the consolidated statements of operations. the effective investment reporting periods based on the new estimate of prepayments and the contractual yield and income recognition calculations also take into account the index MBS during each reporting period are recorded in earnings and reported as in the accompanying consolidated statements of operations. The amount reported as unrealized gains or losses on mortgage-backed securities thus captures the net effect of changes in the fair market value of securities caused by market premium or discount lost as a result of principal repayments during the period. Orchid Island Capital, Inc. Common Stock The Company on this investment market approach Retained The Company interests from the Derivative The Company other exposures, Note”) and as derivative transactions During the recorded 0.8 Losses recorded Derivative The Company’s hedges of included in current period Holding derivatives the event for under addition, monitors positions Financial The fair value of financial instruments for which it is practicable to estimate that consolidated financial statements or in the accompanying notes. MBS, accounted for at fair value in the consolidated balance sheets. The methods instruments are presented in Note 12 of the consolidated financial statements. The estimated fair value of cash and cash equivalents, restricted cash, accrued agreements, accrued interest payable and other liabilities generally approximates December 31, 2021, due to the short-term nature of these financial instruments. It is impractical to estimate the fair value of the Company’s junior subordinated notes. types of instruments and the Company is unable to ascertain what interest rates would instruments. Further information regarding these instruments is presented in Property Property and equipment, net, consists of computer equipment with a depreciable depreciable lives of 8 to 20 years, land which has no depreciable life, and our building and 30 years. line method over the estimated useful lives of the assets. Depreciation is included consolidated statement of operations. Repurchase The Company repurchase contractual Earnings Basic EPS is calculated as income available to common stockholders divided outstanding during the period. Diluted EPS is calculated using the treasury stock or two-class equivalents. However, the common stock equivalents are not included in computing diluted EPS if the result Outstanding shares of Class B Common Stock, participating and convertible dividends in an amount equal to the dividends declared, if any, on each share of Class A Common Stock. Class B Common Stock are included in the computation of basic EPS using separately from Class A Common Stock. The shares of Class C Common Stock are not included in the basic EPS computation rights. The outstanding shares of Class B and Class C Common Stock are A Common Stock as the conditions for conversion into shares of Class A Common Income Taxes Income taxes are provided for using the asset and liability method. Deferred tax between the financial statement and income tax bases of assets and liabilities using enacted deferred tax assets is adjusted by a valuation allowance if, based on the Company’s evaluation, it not be realized. The Company’s U.S. federal income tax returns for years ended on or after December 31, Although management believes its calculations for tax returns are correct and the positions outcome of tax audits could be materially different from the tax returns filed by the Company, and those differences could result in significant costs or benefits to the Company. For tax filing purposes, Bimini Capital and its includable subsidiaries, and Royal Palm its includable subsidiaries, file as separate tax paying entities. The Company assesses the likelihood, based on their technical merit, that uncertain examination based on the facts, circumstances and information available at the positions is adjusted when new information is available, or when an event occurs positions in the consolidated financial statements only when it is more likely than examination by the relevant taxing authority based on the technical merits measured at the largest amount of benefit that will more likely than not be realized upon recognized and the tax benefit claimed on a tax return is referred to as an unrecognized consolidated balance sheets. The Company records income tax-related interest and penalties, provision. Recent Accounting In March 2020, the FASB issued Accounting Standards Update (“ASU”) 2020-04 “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting .” requirements for modifications on debt instruments, leases, derivatives, and other from the London Interbank Offered Rate (“LIBOR,”), alternative reference rates. ASU 2020-04 generally considers contract modifications does not require contract remeasurement at the modification date nor a reassessment guidance in ASU 2020-04 is optional and may be elected over time, through December occur. The Company does not believe the adoption of this ASU will have a material impact on its consolidated In January 2021, the FASB issued ASU 2021-01 “Reference Rate Reform (Topic 848)”. ASU 2021-01 expands the scope of ASC 848 to include all affected derivatives and give market participants the ability to apply hedge accounting expedients to derivative contracts affected by the discounting transition. In addition, implementation guidance to permit a company to apply certain optional expedients margining, discounting or contract price alignment of certain derivatives as a result optional expedients to account for a derivative contract modified as a continuation accounting when certain critical terms of a hedging relationship change to guidance in ASU 2021-01 is effective immediately and available generally through December activities occur. The Company does not believe the adoption of this ASU will have a material impact on its consolidated statements.

ADVISORY SERVICES

ADVISORY SERVICES	9 Months Ended
	Sep. 30, 2022
Advisory Services [Abstract]
Advisory Services [Text Block]	NOTE 2. ADVISORY SERVICES Bimini Advisors serves as the manager and advisor for Orchid pursuant to the Bimini Advisors is responsible for administering Orchid's business activities and management agreement, Bimini Advisors provides Orchid with its management support personnel. Bimini Advisors is at all times subject to the supervision such functions and authority as delegated to it. Bimini Advisors receives a monthly ● One-twelfth of 1.50% of the first $250 million of Orchid’s month-end equity, as defined in the management agreement, ● One-twelfth of 1.25% of Orchid’s month-end equity that is greater than $250 million ● One-twelfth of 1.00% of Orchid’s month-end equity that is greater than $500 million. On April 1, 2022, pursuant to the third amendment to the management agreement Company began providing certain repurchase agreement trading, clearing and previously provided by AVM, L.P. pay the following fees to the Company: ● A daily fee equal to the outstanding principal balance of repurchase agreement funding multiplied by 1.5 basis points for the amount of aggregate outstanding principal balance multiplied by 1.0 basis point for any amount of aggregate outstanding principal ● A fee for the clearing and operational services provided by personnel Orchid is obligated to reimburse Bimini Advisors for any direct expenses incurred amount equal to Orchid's pro rata portion of certain overhead costs set forth in the agreement has been renewed through February 20, 2023 Orchid terminate the management agreement without cause, it will be obligated times the average annual management fee, as defined in the management agreement, renewal term. The following table summarizes the advisory services revenue from 2022 and 2021. (in thousands) Nine Months Ended September 30, Three Months Ended September 30, 2022 2021 2022 2021 Management fee $ 7,881 $ 5,569 $ 2,616 $ 2,157 Allocated overhead 1,482 1,189 522 390 Repurchase, Clearing and Administrative Fee 357 - 174 - Total $ 9,720 $ 6,758 $ 3,312 $ 2,547 At September 30, 2022 and December 31, 2021, the net amount due from 1.1 1.1 respectively.

MORTGAGE-BACKED SECURITIES

MORTGAGE-BACKED SECURITIES	9 Months Ended
	Sep. 30, 2022
Mortgage Backed Securities [Abstract]
Mortgage-Backed Securities	NOTE 3. The following (in thousands) September 30, 2022 December 31, 2021 Fixed-rate MBS $ 41,276 $ 58,029 Structured MBS 2,994 2,774 Total $ 44,270 $ 60,803 The following table is a summary of the Company’s net gain (loss) from the sale of MBS during the nine months ended September 30, 2022 and 2021. (in thousands) 2022 2021 Proceeds from sales of MBS $ 23,097 $ 13,063 Carrying value of MBS sold (23,955) (12,994) Net (loss) gain on sales of MBS $ (858) $ 69 Gross gain on sales of MBS $ - $ 69 Gross loss on sales of MBS (858) - Net (loss) gain on sales of MBS $ (858) $ 69

REPURCHASE AGREEMENTS

REPURCHASE AGREEMENTS	9 Months Ended
	Sep. 30, 2022
Disclosure of Repurchase Agreements [Abstract]
Repurchase Agreements	NOTE 4. The Company generally borrowing. down borrowings securities requirements. As of September below: ($ in thousands) OVERNIGHT BETWEEN 2 BETWEEN 31 GREATER (1 DAY OR AND AND THAN LESS) 30 DAYS 90 DAYS 90 DAYS TOTAL September 30, 2022 Fair value of securities pledged, including accrued interest receivable $ - $ 40,788 $ 3,487 $ - $ 44,275 Repurchase agreement liabilities associated with these securities $ - $ 40,223 $ 3,271 $ - $ 43,494 Net weighted average borrowing rate - 2.97% 3.14% - 2.98% December 31, 2021 Fair value of securities pledged, including accrued interest receivable $ - $ 60,859 $ 159 $ - $ 61,018 Repurchase agreement liabilities associated with these securities $ - $ 58,793 $ 85 $ - $ 58,878 Net weighted average borrowing rate - 0.14% 0.70% - 0.14% In addition, 1.2 1.4 September If, during pledged assets, plus interest and cash posted by the Company as collateral, if any. amount at cash pledged 2.0 3.5 respectively. counterparty

PLEDGED ASSETS

PLEDGED ASSETS	9 Months Ended
	Sep. 30, 2022
Financial Instruments Pledged as Collateral [Abstract]
Pledged Assets [Text Block]	NOTE 5. PLEDGED ASSETS Assets Pledged The table September ($ in thousands) September 30, 2022 December 31, 2021 Repurchase Derivative Repurchase Derivative Agreements Agreements Total Agreements Agreements Total PT MBS - at fair value $ 41,276 $ - $ 41,276 $ 58,029 $ - $ 58,029 Structured MBS - at fair value 2,803 - 2,803 2,759 - 2,759 Accrued interest on pledged securities 196 - 196 230 - 230 Restricted cash 1,244 294 1,538 1,391 - 1,391 Total $ 45,519 $ 294 $ 45,813 $ 62,409 $ - $ 62,409 Assets Pledged The table and December an increase ($ in thousands) Assets Pledged to Bimini September 30, 2022 December 31, 2021 Cash $ 148 $ 106 Total $ 148 $ 106

OFFSETTING ASSETS AND LIABILITI

OFFSETTING ASSETS AND LIABILITIES	9 Months Ended
	Sep. 30, 2022
Offsetting [Abstract]
Offsetting Assets And Liabilities [Text Block]	NOTE 6. OFFSETTING ASSETS AND LIABILITIES The Company’s arrangements, The Company regarding 30, 2022 (in thousands) Offsetting of Liabilities Gross Amount Not Offset in the Net Amount Consolidated Balance Sheet Gross Amount of Liabilities Financial Gross Amount Offset in the Presented in the Instruments Cash of Recognized Consolidated Consolidated Posted as Posted as Net Liabilities Balance Sheet Balance Sheet Collateral Collateral Amount September 30, 2022 Repurchase Agreements $ 43,494 $ - $ 43,494 $ (42,250) $ (1,244) $ - $ 43,494 $ - $ 43,494 $ (42,250) $ (1,244) $ - December 31, 2021 Repurchase Agreements $ 58,878 $ - $ 58,878 $ (57,487) $ (1,391) $ - $ 58,878 $ - $ 58,878 $ (57,487) $ (1,391) $ - The amounts asset or same counterparty repurchase

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2022
Debt Instruments [Abstract]
Long-Term Debt [Text Block]	NOTE 7. Long-term (in thousands) September 30, 2022 December 31, 2021 Junior subordinated debt $ 26,804 $ 26,804 Secured note payable 618 635 Total $ 27,422 $ 27,439 Junior Subordinated Debt During 2005, the common investors The debt As of September to BCTII 26.8 interest 3.50 % over the 6.79 %. The BCTII and are redeemable are subordinate BCTII is activities. proceeds investment consolidated method. The accompanying liability statement Secured On October 680,000 installments 5,000 accrues based 3.25 %. The note The table (in thousands) Last three months of 2022 $ 5 For the years ended: 2023 24 2024 25 2025 26 2026 28 After 2026 27,314 Total $ 27,422

CAPITAL STOCK

CAPITAL STOCK	9 Months Ended
	Sep. 30, 2022
Capital Stock [Abstract]
Capital Stock	NOTE 8. There were nine months Stock Repurchase On March 26, Plan”). 500,000 time to time, was terminated On September 1934 (the Stock from 2.5 means, including, any shares, decreased During the 455,385 Plan at an 0.8 1.78 From the 547,672 aggregate 1.0 1.84

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments And Contingencies	NOTE 9. From time to time, the Company may become involved in various business. On April 22, 2020 , the Company received a demand for payment from Citigroup, Inc. in the 33.1 indemnification provisions of various mortgage loan purchase agreements (“MLPA’s”) entered into between Citigroup Global Markets Realty Corp and Royal Palm Capital, LLC (f/k/a Opteum Financial Services, operations ceased in 2007. In November 2021, Citigroup notified the Company 0.2 demands are based on Royal Palm’s alleged breaches of certain representations and warranties believes the demands are without merit and intends to defend against the demands recorded related to the Citigroup demands. Management is not aware of any other significant reported or unreported contingencies

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 10. The total income tax (benefit) provision recorded for the nine months ended September (1.6) $ 0.3 (9.4) 1.2 September 30, 2022 and 2021, respectively. The total income tax (benefit) provision recorded for the three 30, 2022 and 2021 was $( 0.3 ) million and $ 0.2 3.4 ) million and $ 0.6 The Company’s tax provision is based on a projected effective rate based on annualized amounts and includes the expected realization of a portion of the tax benefits of federal In assessing the realizability of deferred tax assets, management considers whether the deferred tax assets will not be realized. The ultimate realization of capital generation of future capital gains and taxable income in periods prior to their expiration. allowance against a portion of the NOLs since the Company believes that it is more likely realized in the future. The Company will continue to assess the need for a valuation

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share (EPS)	NOTE 11. Shares of amount equal Directors. presented EPS as the Shares of Shares of common stock The table 2021. (in thousands, except per-share information) Nine Months Ended September 30, Three Months Ended September 30, 2022 2021 2022 2021 Basic and diluted EPS per Class A common share: (Loss) income attributable to Class A common shares: Basic and diluted $ (7,815) $ 833 $ (3,163) $ 464 Weighted average common shares: Class A common shares outstanding at the balance sheet date 10,247 10,794 10,247 10,794 Effect of weighting 220 564 42 72 Weighted average shares-basic and diluted 10,467 11,358 10,289 10,866 (Loss) income per Class A common share: Basic and diluted $ (0.75) $ 0.07 $ (0.31) $ 0.04 (in thousands, except per-share information) Nine Months Ended September 30, Three Months Ended September 30, 2022 2021 2022 2021 Basic and diluted EPS per Class B common share: (Loss) income attributable to Class B common shares: Basic and diluted $ (24) $ 2 $ (10) $ 1 Weighted average common shares: Class B common shares outstanding at the balance sheet date 32 32 32 32 Weighted average shares-basic and diluted 32 32 32 32 (Loss) income per Class B common share: Basic and diluted $ (0.75) $ 0.07 $ (0.31) $ 0.04

FAIR VALUE

FAIR VALUE	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value	NOTE 12. Fair value reflect the in a particular disclosures measurements. ● Level 1 valuations, (which include ● Level 2 valuations, prices for significant ● Level 3 valuations, observable Company’s own techniques use of market MBS, Orchid and three or most advantageous asset. When in active of September interests The Company's Company based must make independent include observing spread pricing curve or and SABR spread pricing or observable between the stability and guarantor were originated, if appropriate. The Company’s readily available. valuations. and discount The following December (in thousands) Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Fair Value Assets Inputs Inputs Measurements (Level 1) (Level 2) (Level 3) September 30, 2022 Mortgage-backed securities $ 44,270 $ - $ 44,270 $ - Orchid Island Capital, Inc. common stock 4,256 4,256 - - December 31, 2021 Mortgage-backed securities $ 60,803 $ - $ 60,803 $ - Orchid Island Capital, Inc. common stock 11,679 11,679 - - During the 1, 2 or 3.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	NOTE 13. The Company’s operations are classified into two principal reportable segments: the asset investment portfolio segment. The asset management segment includes the investment advisory services provided by Palm. As discussed in Note 2, the revenues of the asset management segment consist reimbursements received pursuant to a management agreement with Orchid. agreement for the nine months ended September 30, 2022 and 2021, were approximately 9.7 6.8 accounting for approximately 80 % and 68 % of consolidated revenues, respectively. The investment portfolio segment includes the investment activities conducted receives revenue in the form of interest and dividend income on its investments. Segment information for the nine months ended September 30, 2022 and 2021 is as (in thousands) Asset Investment Management Portfolio Corporate Eliminations Total 2022 Advisory services, external customers $ 9,720 $ - $ - $ - $ 9,720 Advisory services, other operating segments (1) 85 - - (85) - Interest and dividend income - 2,364 - - 2,364 Interest expense - (314) (938) (2) - (1,252) Net revenues 9,805 2,050 (938) (85) 10,832 Other expenses - (14,092) 66 - (14,026) Operating expenses (3) (4,914) (1,302) - - (6,216) Intercompany expenses (1) - (85) - 85 - Income (loss) before income taxes $ 4,891 $ (13,429) $ (872) $ - $ (9,410) Asset Investment Management Portfolio Corporate Eliminations Total 2021 Advisory services, external customers $ 6,758 $ - $ - $ - $ 6,758 Advisory services, other operating segments (1) 108 - - (108) - Interest and dividend income - 3,245 - - 3,245 Interest expense - (95) (748) (2) - (843) Net revenues 6,866 3,150 (748) (108) 9,160 Other (expenses) income - (3,008) 154 - (2,854) Operating expenses (3) (3,396) (1,738) - - (5,134) Intercompany expenses (1) - (108) - 108 - Income (loss) before income taxes $ 3,470 $ (1,704) $ (594) $ - $ 1,172 Segment information for the three months ended September 30, 2022 and 2021 is (in thousands) Asset Investment Management Portfolio Corporate Eliminations Total 2022 Advisory services, external customers $ 3,312 $ - $ - $ - $ 3,312 Advisory services, other operating segments (1) 29 - - (29) - Interest and dividend income - 728 - - 728 Interest expense - (210) (379) (2) - (589) Net revenues 3,341 518 (379) (29) 3,451 Other expenses - (4,868) 66 - (4,802) Operating expenses (3) (1,677) (401) - - (2,078) Intercompany expenses (1) - (29) - 29 - Income (loss) before income taxes $ 1,664 $ (4,780) $ (313) $ - $ (3,429) Asset Investment Management Portfolio Corporate Eliminations Total 2021 Advisory services, external customers $ 2,547 $ - $ - $ - $ 2,547 Advisory services, other operating segments (1) 35 - - (35) - Interest and dividend income - 1,043 - - 1,043 Interest expense - (24) (248) (2) - (272) Net revenues 2,582 1,019 (248) (35) 3,318 Other (expenses) income - (1,033) - - (1,033) Operating expenses (3) (1,157) (496) - - (1,653) Intercompany expenses (1) - (35) - 35 - Income (loss) before income taxes $ 1,425 $ (545) $ (248) $ - $ 632 Includes fees paid by Royal Palm to Bimini Advisors for advisory services (2) Includes interest on long-term debt. (3) Corporate expenses are allocated based on each segment’s proportional Assets in each reportable segment as of September 30, 2022 and December (in thousands) Asset Investment Management Portfolio Corporate Total September 30, 2022 $ 1,967 $ 86,542 8,361 $ 96,870 December 31, 2021 1,901 111,022 9,162 122,085

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 14. RELATED PARTY TRANSACTIONS Relationships with Orchid At both September 30, 2022 and December 31, 2021, the Company owned 519,071 effect to Orchid’s 1-for-5 reverse stock split), representing approximately 1.5 % and 1.5 %, respectively, of Orchid’s outstanding common stock on such dates. The Company received dividends on this common 1.0 0.3 during the nine and three months ended September 30, 2022, respectively, and approximately $ 1.5 0.5 nine and three months ended September 30, 2021, Robert Cauley, the Chief Executive Officer and Chairman of the Board of Directors of the Company, also serves as Chief Executive Officer and Chairman of the Board of Directors of Orchid, is eligible to receive of common stock of Orchid. Company, also serves as Chief Financial Officer, Chief Investment Officer and Secretary of Orchid, is a member of Orchid’s Board of Directors, receives compensation from Orchid, and owns shares of common stock independent directors, each own shares of common stock of Orchid.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Consolidation	Consolidation The accompanying consolidated financial statements include the accounts of Bimini inter-company accounts and transactions have been eliminated from the consolidated
Variable Interest Entity [Policy Text Block]	Variable Interest Entities (“VIEs”) A variable interest entity ("VIE") is consolidated by an enterprise if it is deemed the has a common share investment in a trust used in connection with the issuance 7 for a description of the accounting used for this VIE. The Company obtains interests in VIEs through its investments in mortgage-backed passive in nature and are not expected to result in the Company obtaining a controlling a result, the Company does not consolidate these VIEs and accounts for the interest See Note 3 for additional information regarding the Company’s investments in mortgage-backed securities. loss for these VIEs is the carrying value of the mortgage-backed securities.
Basis of Presentation	Basis of The accompanying unaudited condensed consolidated financial statements principles generally accepted in the United States (“GAAP”) for interim financial Article 8 of Regulation S-X. financial statements. a fair presentation have been included. necessarily indicative of the results that may be expected for the year ending December The consolidated balance sheet at December 31, 2021 has been derived from the does not include all of the information and footnotes required by GAAP for information, refer to the financial statements and footnotes thereto included in the ended December 31, 2021.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management affect the reported amounts of assets and liabilities and disclosure of contingent assets financial statements and the reported amounts of revenues and expenses during those estimates. values of MBS and derivatives, the value of Orchid Common Stock, determining computation of the income tax provision or benefit and the deferred tax asset allowances
Segment Reporting Policy [Policy Text Block]	Segment Reporting The Company’s operations are classified into two principal reportable segments: the asset investment portfolio segment. These segments are evaluated by management in deciding performance. exception that inter-segment revenues and expenses are included in the presentation Note 13.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash Cash and three months derivative and December September 30, 2022 December 31, 2021 Cash and cash equivalents $ 5,861,597 $ 8,421,410 Restricted cash 1,537,500 1,391,000 Total cash, cash equivalents $ 7,399,097 $ 9,812,410 The Company may exceed Insurance Corporation uninsured, uninsured credit risk
Advisory Services [Policy Tex Block]	Advisory Services Orchid is the management overhead recognized
Mortgage-Backed Securities	Mortgage-Backed The Company invests primarily in mortgage pass-through (“PT”) mortgage-backed or Ginnie Mae (“MBS”), collateralized mortgage obligations (“CMOs”), interest-only securities representing interest in or obligations backed by pools of mortgage-backed as PT MBS. The Company refers MBS under the fair value option. statement of operations, which, in management’s view, more appropriately reflects the results of the Company’s operations for a particular reporting period and is consistent with the underlying economics and The Company records MBS transactions on the trade date. are included in the MBS balance with an offsetting liability recorded, whereas securities sold sheet date are removed from the MBS balance with an offsetting receivable recorded. Fair value is defined as the price that would be received to sell the asset or paid to between market participants at the measurement date. transfer the liability either occurs in the principal market for the asset or liability, or in the absence of a principal market, occurs most advantageous market for the asset or liability. Estimated fair values for MBS are based on independent pricing sources and/or third-party broker quotes, when available. Income on PT MBS is based on the stated interest rate of the security. Premiums or discounts present at the date of purchase not amortized. losses on MBS in the consolidated statements of operations. the effective investment reporting periods based on the new estimate of prepayments and the contractual yield and income recognition calculations also take into account the index MBS during each reporting period are recorded in earnings and reported as in the accompanying consolidated statements of operations. The amount reported as unrealized gains or losses on mortgage-backed securities thus captures the net effect of changes in the fair market value of securities caused by market premium or discount lost as a result of principal repayments during the period.
Investment In Related Party [Policy Text Block]	Orchid Island Capital, Inc. Common Stock The Company on this investment market approach
Retained Interests	Retained The Company interests from the
Derivative Financial Instruments	Derivative The Company other exposures, Note”) and as derivative transactions During the recorded 0.8 Losses recorded Derivative The Company’s hedges of included in current period Holding derivatives the event for under addition, monitors positions
Financial Instruments	Financial The fair value of financial instruments for which it is practicable to estimate that consolidated financial statements or in the accompanying notes. MBS, accounted for at fair value in the consolidated balance sheets. The methods instruments are presented in Note 12 of the consolidated financial statements. The estimated fair value of cash and cash equivalents, restricted cash, accrued agreements, accrued interest payable and other liabilities generally approximates December 31, 2021, due to the short-term nature of these financial instruments. It is impractical to estimate the fair value of the Company’s junior subordinated notes. types of instruments and the Company is unable to ascertain what interest rates would instruments. Further information regarding these instruments is presented in
Property and Equipment, net	Property Property and equipment, net, consists of computer equipment with a depreciable depreciable lives of 8 to 20 years, land which has no depreciable life, and our building and 30 years. line method over the estimated useful lives of the assets. Depreciation is included consolidated statement of operations.
Repurchase Agreements	Repurchase The Company repurchase contractual
Earnings Per Share	Earnings Basic EPS is calculated as income available to common stockholders divided outstanding during the period. Diluted EPS is calculated using the treasury stock or two-class equivalents. However, the common stock equivalents are not included in computing diluted EPS if the result Outstanding shares of Class B Common Stock, participating and convertible dividends in an amount equal to the dividends declared, if any, on each share of Class A Common Stock. Class B Common Stock are included in the computation of basic EPS using separately from Class A Common Stock. The shares of Class C Common Stock are not included in the basic EPS computation rights. The outstanding shares of Class B and Class C Common Stock are A Common Stock as the conditions for conversion into shares of Class A Common
Income Taxes	Income Taxes Income taxes are provided for using the asset and liability method. Deferred tax between the financial statement and income tax bases of assets and liabilities using enacted deferred tax assets is adjusted by a valuation allowance if, based on the Company’s evaluation, it not be realized. The Company’s U.S. federal income tax returns for years ended on or after December 31, Although management believes its calculations for tax returns are correct and the positions outcome of tax audits could be materially different from the tax returns filed by the Company, and those differences could result in significant costs or benefits to the Company. For tax filing purposes, Bimini Capital and its includable subsidiaries, and Royal Palm its includable subsidiaries, file as separate tax paying entities. The Company assesses the likelihood, based on their technical merit, that uncertain examination based on the facts, circumstances and information available at the positions is adjusted when new information is available, or when an event occurs positions in the consolidated financial statements only when it is more likely than examination by the relevant taxing authority based on the technical merits measured at the largest amount of benefit that will more likely than not be realized upon recognized and the tax benefit claimed on a tax return is referred to as an unrecognized consolidated balance sheets. The Company records income tax-related interest and penalties, provision.
Recent Accounting Pronouncements	Recent Accounting In March 2020, the FASB issued Accounting Standards Update (“ASU”) 2020-04 “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting .” requirements for modifications on debt instruments, leases, derivatives, and other from the London Interbank Offered Rate (“LIBOR,”), alternative reference rates. ASU 2020-04 generally considers contract modifications does not require contract remeasurement at the modification date nor a reassessment guidance in ASU 2020-04 is optional and may be elected over time, through December occur. The Company does not believe the adoption of this ASU will have a material impact on its consolidated In January 2021, the FASB issued ASU 2021-01 “Reference Rate Reform (Topic 848)”. ASU 2021-01 expands the scope of ASC 848 to include all affected derivatives and give market participants the ability to apply hedge accounting expedients to derivative contracts affected by the discounting transition. In addition, implementation guidance to permit a company to apply certain optional expedients margining, discounting or contract price alignment of certain derivatives as a result optional expedients to account for a derivative contract modified as a continuation accounting when certain critical terms of a hedging relationship change to guidance in ASU 2021-01 is effective immediately and available generally through December activities occur. The Company does not believe the adoption of this ASU will have a material impact on its consolidated statements.

CASH AND CASH EQUIVALENTS (Tabl

CASH AND CASH EQUIVALENTS (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Schedule of reconciliation of cash, cash equivalents and restricted cash	Cash and Cash Equivalents and Restricted Cash Cash and three months derivative and December September 30, 2022 December 31, 2021 Cash and cash equivalents $ 5,861,597 $ 8,421,410 Restricted cash 1,537,500 1,391,000 Total cash, cash equivalents $ 7,399,097 $ 9,812,410

ADVISORY SERVICES (Tables)

ADVISORY SERVICES (Tables)	9 Months Ended
	Sep. 30, 2022
Advisory Services [Abstract]
Schedule of Advisory Fee Income [Table Text Block]	The following table summarizes the advisory services revenue from 2022 and 2021. (in thousands) Nine Months Ended September 30, Three Months Ended September 30, 2022 2021 2022 2021 Management fee $ 7,881 $ 5,569 $ 2,616 $ 2,157 Allocated overhead 1,482 1,189 522 390 Repurchase, Clearing and Administrative Fee 357 - 174 - Total $ 9,720 $ 6,758 $ 3,312 $ 2,547

MORTGAGE-BACKED SECURITIES (Tab

MORTGAGE-BACKED SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2022
Mortgage Backed Securities [Abstract]
Schedule of Mortgage-Backed Securities Reconciliation	The following (in thousands) September 30, 2022 December 31, 2021 Fixed-rate MBS $ 41,276 $ 58,029 Structured MBS 2,994 2,774 Total $ 44,270 $ 60,803
Gain (Loss) on Securities [Table Text Block]	The following table is a summary of the Company’s net gain (loss) from the sale of MBS during the nine months ended September 30, 2022 and 2021. (in thousands) 2022 2021 Proceeds from sales of MBS $ 23,097 $ 13,063 Carrying value of MBS sold (23,955) (12,994) Net (loss) gain on sales of MBS $ (858) $ 69 Gross gain on sales of MBS $ - $ 69 Gross loss on sales of MBS (858) - Net (loss) gain on sales of MBS $ (858) $ 69

REPURCHASE AGREEMENTS (Tables)

REPURCHASE AGREEMENTS (Tables)	9 Months Ended
	Sep. 30, 2022
Disclosure of Repurchase Agreements [Abstract]
Schedule of repurchase agreements and remaining maturities	As of September below: ($ in thousands) OVERNIGHT BETWEEN 2 BETWEEN 31 GREATER (1 DAY OR AND AND THAN LESS) 30 DAYS 90 DAYS 90 DAYS TOTAL September 30, 2022 Fair value of securities pledged, including accrued interest receivable $ - $ 40,788 $ 3,487 $ - $ 44,275 Repurchase agreement liabilities associated with these securities $ - $ 40,223 $ 3,271 $ - $ 43,494 Net weighted average borrowing rate - 2.97% 3.14% - 2.98% December 31, 2021 Fair value of securities pledged, including accrued interest receivable $ - $ 60,859 $ 159 $ - $ 61,018 Repurchase agreement liabilities associated with these securities $ - $ 58,793 $ 85 $ - $ 58,878 Net weighted average borrowing rate - 0.14% 0.70% - 0.14%

PLEDGED ASSETS (Tables)

PLEDGED ASSETS (Tables)	9 Months Ended
	Sep. 30, 2022
Financial Instruments Pledged as Collateral [Abstract]
Schedule of assets pledged as collateral under our repurchase agreements, prime brokerage clearing accounts, derivative agreements and insurance capital by type, including securities pledged related to securities sold but not yet settled	The table September ($ in thousands) September 30, 2022 December 31, 2021 Repurchase Derivative Repurchase Derivative Agreements Agreements Total Agreements Agreements Total PT MBS - at fair value $ 41,276 $ - $ 41,276 $ 58,029 $ - $ 58,029 Structured MBS - at fair value 2,803 - 2,803 2,759 - 2,759 Accrued interest on pledged securities 196 - 196 230 - 230 Restricted cash 1,244 294 1,538 1,391 - 1,391 Total $ 45,519 $ 294 $ 45,813 $ 62,409 $ - $ 62,409
Schedule of assets pledged to us from counterparties under our repurchase agreements.	The table and December an increase ($ in thousands) Assets Pledged to Bimini September 30, 2022 December 31, 2021 Cash $ 148 $ 106 Total $ 148 $ 106

OFFSETTING ASSETS AND LIABILI_2

OFFSETTING ASSETS AND LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2022
Offsetting [Abstract]
Offsetting of Liabilties [Table Text Block]	The Company’s arrangements, The Company regarding 30, 2022 (in thousands) Offsetting of Liabilities Gross Amount Not Offset in the Net Amount Consolidated Balance Sheet Gross Amount of Liabilities Financial Gross Amount Offset in the Presented in the Instruments Cash of Recognized Consolidated Consolidated Posted as Posted as Net Liabilities Balance Sheet Balance Sheet Collateral Collateral Amount September 30, 2022 Repurchase Agreements $ 43,494 $ - $ 43,494 $ (42,250) $ (1,244) $ - $ 43,494 $ - $ 43,494 $ (42,250) $ (1,244) $ - December 31, 2021 Repurchase Agreements $ 58,878 $ - $ 58,878 $ (57,487) $ (1,391) $ - $ 58,878 $ - $ 58,878 $ (57,487) $ (1,391) $ - The amounts asset or same counterparty repurchase

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Instruments [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	Long-term (in thousands) September 30, 2022 December 31, 2021 Junior subordinated debt $ 26,804 $ 26,804 Secured note payable 618 635 Total $ 27,422 $ 27,439
Debt Instrument Redemption [Table Text Block]	The table (in thousands) Last three months of 2022 $ 5 For the years ended: 2023 24 2024 25 2025 26 2026 28 After 2026 27,314 Total $ 27,422

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of reconciling the numerator and denominator of EPS	The table 2021. (in thousands, except per-share information) Nine Months Ended September 30, Three Months Ended September 30, 2022 2021 2022 2021 Basic and diluted EPS per Class A common share: (Loss) income attributable to Class A common shares: Basic and diluted $ (7,815) $ 833 $ (3,163) $ 464 Weighted average common shares: Class A common shares outstanding at the balance sheet date 10,247 10,794 10,247 10,794 Effect of weighting 220 564 42 72 Weighted average shares-basic and diluted 10,467 11,358 10,289 10,866 (Loss) income per Class A common share: Basic and diluted $ (0.75) $ 0.07 $ (0.31) $ 0.04 (in thousands, except per-share information) Nine Months Ended September 30, Three Months Ended September 30, 2022 2021 2022 2021 Basic and diluted EPS per Class B common share: (Loss) income attributable to Class B common shares: Basic and diluted $ (24) $ 2 $ (10) $ 1 Weighted average common shares: Class B common shares outstanding at the balance sheet date 32 32 32 32 Weighted average shares-basic and diluted 32 32 32 32 (Loss) income per Class B common share: Basic and diluted $ (0.75) $ 0.07 $ (0.31) $ 0.04

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of financial assets (liabilities) measured at fair value on a recurring basis	The following December (in thousands) Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Fair Value Assets Inputs Inputs Measurements (Level 1) (Level 2) (Level 3) September 30, 2022 Mortgage-backed securities $ 44,270 $ - $ 44,270 $ - Orchid Island Capital, Inc. common stock 4,256 4,256 - - December 31, 2021 Mortgage-backed securities $ 60,803 $ - $ 60,803 $ - Orchid Island Capital, Inc. common stock 11,679 11,679 - -

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule Of Segment Reporting Information By Segment [Text Block]	Segment information for the nine months ended September 30, 2022 and 2021 is as (in thousands) Asset Investment Management Portfolio Corporate Eliminations Total 2022 Advisory services, external customers $ 9,720 $ - $ - $ - $ 9,720 Advisory services, other operating segments (1) 85 - - (85) - Interest and dividend income - 2,364 - - 2,364 Interest expense - (314) (938) (2) - (1,252) Net revenues 9,805 2,050 (938) (85) 10,832 Other expenses - (14,092) 66 - (14,026) Operating expenses (3) (4,914) (1,302) - - (6,216) Intercompany expenses (1) - (85) - 85 - Income (loss) before income taxes $ 4,891 $ (13,429) $ (872) $ - $ (9,410) Asset Investment Management Portfolio Corporate Eliminations Total 2021 Advisory services, external customers $ 6,758 $ - $ - $ - $ 6,758 Advisory services, other operating segments (1) 108 - - (108) - Interest and dividend income - 3,245 - - 3,245 Interest expense - (95) (748) (2) - (843) Net revenues 6,866 3,150 (748) (108) 9,160 Other (expenses) income - (3,008) 154 - (2,854) Operating expenses (3) (3,396) (1,738) - - (5,134) Intercompany expenses (1) - (108) - 108 - Income (loss) before income taxes $ 3,470 $ (1,704) $ (594) $ - $ 1,172 Segment information for the three months ended September 30, 2022 and 2021 is (in thousands) Asset Investment Management Portfolio Corporate Eliminations Total 2022 Advisory services, external customers $ 3,312 $ - $ - $ - $ 3,312 Advisory services, other operating segments (1) 29 - - (29) - Interest and dividend income - 728 - - 728 Interest expense - (210) (379) (2) - (589) Net revenues 3,341 518 (379) (29) 3,451 Other expenses - (4,868) 66 - (4,802) Operating expenses (3) (1,677) (401) - - (2,078) Intercompany expenses (1) - (29) - 29 - Income (loss) before income taxes $ 1,664 $ (4,780) $ (313) $ - $ (3,429) Asset Investment Management Portfolio Corporate Eliminations Total 2021 Advisory services, external customers $ 2,547 $ - $ - $ - $ 2,547 Advisory services, other operating segments (1) 35 - - (35) - Interest and dividend income - 1,043 - - 1,043 Interest expense - (24) (248) (2) - (272) Net revenues 2,582 1,019 (248) (35) 3,318 Other (expenses) income - (1,033) - - (1,033) Operating expenses (3) (1,157) (496) - - (1,653) Intercompany expenses (1) - (35) - 35 - Income (loss) before income taxes $ 1,425 $ (545) $ (248) $ - $ 632 Assets in each reportable segment as of September 30, 2022 and December (in thousands) Asset Investment Management Portfolio Corporate Total September 30, 2022 $ 1,967 $ 86,542 8,361 $ 96,870 December 31, 2021 1,901 111,022 9,162 122,085

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Cash and cash equivalents	$ 5,861,597	$ 8,421,410
Restricted cash	1,537,500	1,391,000
Cash Cash Equivalents And Restricted Cash	$ 7,399,097	$ 9,812,410	$ 9,545,003	$ 10,911,357

SIGNIFICANT ACCOUNTING POLICES

SIGNIFICANT ACCOUNTING POLICES - Derivatives (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivatives, Fair Value [Line Items]
Gain Loss On Derivative Instruments Held For Trading Purposes Net	$ 844,188	$ (147)	$ 794,500	$ (280)
Treasury Note Future [Member]
Derivatives, Fair Value [Line Items]
Gain Loss On Derivative Instruments Held For Trading Purposes Net	$ 0.8		$ 0.8

ADVISORY SERVICES (Details)

ADVISORY SERVICES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Advisory Services [Line Items]
Advisory services	$ 3,311,962	$ 2,546,578	$ 9,719,703	$ 6,757,799
Due From Affiliate	1,075,189		1,075,189		$ 1,062,155
Management Fees [Member]
Advisory Services [Line Items]
Advisory services			7,881,000	5,569,000
Overhead Allocation [Member]
Advisory Services [Line Items]
Advisory services			$ 1,482,000	$ 1,189,000
Orchid Island Capital [Member]
Advisory Services [Line Items]
Advisory services	3,312,000	2,547,000
Orchid Island Capital [Member] | Management Fees [Member]
Advisory Services [Line Items]
Advisory services	2,616,000	2,157,000
Orchid Island Capital [Member] | Overhead Allocation [Member]
Advisory Services [Line Items]
Advisory services	$ 522,000	$ 390,000

MORTGAGE-BACKED SECURITIES - M

MORTGAGE-BACKED SECURITIES - MBS Portfolio (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair Value	$ 44,269,527	$ 60,803,144
Fixed Rate Mortgages [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair Value	41,276,000	58,029,000
Structured Securities [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair Value	$ 2,994,000	$ 2,774,000

MORTGAGE-BACKED SECURITIES - Sa

MORTGAGE-BACKED SECURITIES - Sales (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Mortgage Backed Securities [Abstract]
Proceeds From Sale Of Mortgage Backed Securities MBS Categorized As Trading			$ 23,096,853	$ 13,063,248
Investment Sales, Carrying Value			(23,955,000)	(12,994,000)
Realized Gains On Investments	$ 0	$ 69,498	(858,001)	69,498
Available For Sale Securities Gross Realized Gains			0	69,000
Available For Sale Securities Gross Realized Losses			(858,000)	0
Realized gains on mortgage-backed securities	$ 0	$ 69,498	$ (858,001)	$ 69,498

REPURCHASE AGREEMENTS - Narrati

REPURCHASE AGREEMENTS - Narrative (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Assets Sold under Agreements to Repurchase [Line Items]
Restricted Cash And Cash Equivalents At Carrying Value	$ 1,537,500	$ 1,391,000
Repurchase Agreements [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Restricted Cash And Cash Equivalents At Carrying Value	1,244,000	1,391,000
Aggregate amount at risk will all counterparties	$ 2,000,000	$ 3,500,000

REPURCHASE AGREEMENTS - Maturit

REPURCHASE AGREEMENTS - Maturities (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	$ 44,275,000	$ 61,018,000
Outstanding repurchase obligations	$ 43,493,999	$ 58,877,999
Net weighted average borrowing rate	2.98%	0.14%
Overnight (1 Day or Less) [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	$ 0	$ 0
Outstanding repurchase obligations	$ 0	$ 0
Net weighted average borrowing rate	0%	0%
Between 2 and 30 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	$ 40,788,000	$ 60,859,000
Outstanding repurchase obligations	$ 40,223,000	$ 58,793,000
Net weighted average borrowing rate	2.97%	0.14%
Between 31 and 90 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	$ 3,487,000	$ 159,000
Outstanding repurchase obligations	$ 3,271,000	$ 85,000
Net weighted average borrowing rate	3.14%	0.70%
Greater Than 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	$ 0	$ 0
Outstanding repurchase obligations	$ 0	$ 0
Net weighted average borrowing rate	0%	0%

PLEDGED ASSETS - Assets Pledged

PLEDGED ASSETS - Assets Pledged to Counterparties (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Financial Instrument Secured2 [Domain]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged Financial Instruments Securities	$ 45,813	$ 62,409
Interest Receivable	196	230
Restricted Cash And Cash Equivalents At Carrying Value	1,538	1,391
Financial Instrument Secured2 [Domain] | Mortgage Backed Securities Pass Through Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged Financial Instruments Securities	41,276	58,029
Financial Instrument Secured2 [Domain] | Mortgage Backed Securities Structured Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged Financial Instruments Securities	2,803	2,759
Repurchase Agreements [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged Financial Instruments Securities	45,519	62,409
Interest Receivable	196	230
Restricted Cash And Cash Equivalents At Carrying Value	1,244	1,391
Repurchase Agreements [Member] | Mortgage Backed Securities Pass Through Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged Financial Instruments Securities	41,276	58,029
Repurchase Agreements [Member] | Mortgage Backed Securities Structured Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged Financial Instruments Securities	2,803	2,759
Derivative [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged Financial Instruments Securities	294	0
Interest Receivable	0	0
Restricted Cash And Cash Equivalents At Carrying Value	294	0
Derivative [Member] | Mortgage Backed Securities Pass Through Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged Financial Instruments Securities	0	0
Derivative [Member] | Mortgage Backed Securities Structured Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged Financial Instruments Securities	0	0
Residential Mortgage Backed Securities [Member] | Repurchase Agreements [Member] | Mortgage Backed Securities Pass Through Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged Financial Instruments Securities	41,276	58,029
Residential Mortgage Backed Securities [Member] | Repurchase Agreements [Member] | Mortgage Backed Securities Structured Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged Financial Instruments Securities	$ 2,803	$ 2,759

PLEDGED ASSETS - Assets Pledg_2

PLEDGED ASSETS - Assets Pledged from Counterparties (Details) - Repurchase Agreements [Member] - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Financial Instruments Owned and Pledged as Collateral [Line Items]
Cash Pledged By Counterparties	$ 148	$ 106
Total Assets Pledged By Counterparties	$ 148	$ 106

OFFSETTING ASSETS AND LIABILI_3

OFFSETTING ASSETS AND LIABILITIES - Offsetting of Liabilties (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Offsetting Liabilities [Line Items]
Gross Amount Of Recognized Liabilties	$ 43,494	$ 58,878
Gross Amount Of Liabilties Offset In The Balance Sheet	0	0
Net Amount Of Liabilities Presented In The Balance Sheet	43,494	58,878
Gross Amount Of Financial Instruments Posted Not Offset in Balance Sheet	(42,250)	(57,487)
Gross Amounts Of Cash Posted Not Offset In Balance Sheet	(1,244)	(1,391)
Net Amount Of Liabilities	0	0
Repurchase Agreements [Member]
Offsetting Liabilities [Line Items]
Gross Amount Of Recognized Liabilties	43,494	58,878
Gross Amount Of Liabilties Offset In The Balance Sheet	0	0
Net Amount Of Liabilities Presented In The Balance Sheet	43,494	58,878
Gross Amount Of Financial Instruments Posted Not Offset in Balance Sheet	(42,250)	(57,487)
Gross Amounts Of Cash Posted Not Offset In Balance Sheet	(1,244)	(1,391)
Net Amount Of Liabilities	$ 0	$ 0

LONG-TERM DEBT- Narrative (Deta

LONG-TERM DEBT- Narrative (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Outstanding Principal Balance	$ 27,422,050	$ 27,438,976
Junior Subordinated Debt [Member] | Bimini Capital Trust II Junior Subordinated Note [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Outstanding Principal Balance	$ 26,800,000	$ 26,800,000
Basis Spread on Variable Rate	3.50%
Interest Rate at Period End	6.79%
Note Payable | US Treasury (UST) Interest Rate [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	3.25%
Original Loan Amount	$ 680,000
Installment Amount	$ 5,000

LONG-TERM DEBT - Outstanding Ba

LONG-TERM DEBT - Outstanding Balances (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 27,422,050	$ 27,438,976
Junior Subordinated Debt [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	26,804,000	26,804,000
Note Payable
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 618,000	$ 635,000

LONG-TERM DEBT - Scheduled Prin

LONG-TERM DEBT - Scheduled Principal Balances (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Debt Instrument [Line Items]
Scheduled Principal Payments	$ 27,422
Debt Instrument, Redemption, Period One [Member]
Debt Instrument [Line Items]
Scheduled Principal Payments	5
Debt Instrument, Redemption, Period Two [Member]
Debt Instrument [Line Items]
Scheduled Principal Payments	24
Debt Instrument, Redemption, Period Three [Member]
Debt Instrument [Line Items]
Scheduled Principal Payments	25
Debt Instrument, Redemption, Period Four [Member]
Debt Instrument [Line Items]
Scheduled Principal Payments	26
Debt Instrument, Redemption, Period Five [Member]
Debt Instrument [Line Items]
Scheduled Principal Payments	28
Debt Instrument, Redemption, Thereafter [Member]
Debt Instrument [Line Items]
Scheduled Principal Payments	$ 27,314

CAPITAL STOCK - Stock Repurchas

CAPITAL STOCK - Stock Repurchase Plan (Details) - Class A Common Stock [Member] - USD ($) $ / shares in Units, $ in Millions	9 Months Ended	13 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Sep. 16, 2021	Mar. 26, 2018
March 2018 Stock Repurchase Plan [Member]
Share Repurchase Program [Line Items]
Authorized Shares				500,000
September 2021 Stock Repurchase Plan [Member]
Share Repurchase Program [Line Items]
Aggregate Repurchase Cost	$ 0.8	$ 1
Shares Acquired	455,385	547,672
Average Cost Per Share	$ 1.78	$ 1.84
Stock Repurchase Program, Authorized Amount			$ 2.5

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - Threatened Litigation [Member] - Breach Of Representations and Warranties [Member] $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Citigroup Demand For Payment [Member]
Loss Contingencies [Line Items]
Demand For Payment Date	April 22, 2020
Loss Contingency, Damages Sought, Value	$ 33.1
Citigroup Additional Indemnity Claim [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	$ 0.2

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income tax provision (benefit)	$ (255,618)	$ 167,751	$ (1,571,076)	$ 336,389
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest	$ (3,428,806)	$ 632,351	$ (9,410,422)	$ 1,171,633

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Class A Common Stock [Member]
Net Income (Loss) Available to Common Stockholders, Diluted [Abstract]
Net Income (Loss) Available to Common Stockholders, Basic	$ (3,163)	$ 464	$ (7,815)	$ 833
Net Income (Loss) Available to Common Stockholders, Diluted	$ (3,163)	$ 464	$ (7,815)	$ 833
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Common Shares Outstanding	10,247,000	10,794,000	10,247,000	10,794,000
Effect of Weighting	42,000	72,000	220,000	564,000
Weighted Average Number Of Basic Shares Outstanding	10,288,785	10,866,087	10,467,091	11,358,346
Weighted Average Number of Shares Outstanding, Diluted	10,288,785	10,866,087	10,467,091	11,358,346
Income (Loss) Per Share - Basic	$ (0.31)	$ 0.04	$ (0.75)	$ 0.07
Income (Loss) Pe Share - Diluted	$ (0.31)	$ 0.04	$ (0.75)	$ 0.07
Class B Common Stock [Member]
Net Income (Loss) Available to Common Stockholders, Diluted [Abstract]
Net Income (Loss) Available to Common Stockholders, Basic	$ (10)	$ 1	$ (24)	$ 2
Net Income (Loss) Available to Common Stockholders, Diluted	$ (10)	$ 1	$ (24)	$ 2
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Common Shares Outstanding	32,000	32,000	32,000	32,000
Weighted Average Number Of Basic Shares Outstanding	31,938	31,938	31,938	31,938
Weighted Average Number of Shares Outstanding, Diluted	31,938	31,938	31,938	31,938
Income (Loss) Per Share - Basic	$ (0.31)	$ 0.04	$ (0.75)	$ 0.07
Income (Loss) Pe Share - Diluted	$ (0.31)	$ 0.04	$ (0.75)	$ 0.07

FAIR VALUE - Assets and Liabili

FAIR VALUE - Assets and Liabilities Recorded at Fair Value on Recurring Basis (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	$ 44,269,527	$ 60,803,144
Orchid Island Capital, Inc. common stock, at fair value	4,256,384	11,679,107
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	0	0
Orchid Island Capital, Inc. common stock, at fair value	4,256,000	11,679,000
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	44,270,000	60,803,000
Orchid Island Capital, Inc. common stock, at fair value	0	0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	0	0
Orchid Island Capital, Inc. common stock, at fair value	$ 0	$ 0

SEGMENT INFORMATION - Reconcili

SEGMENT INFORMATION - Reconciliation of Segment Revenues (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Segment Reporting, Revenue Reconciling Item [Line Items]
Advisory services, external customers	$ 3,311,962	$ 2,546,578	$ 9,719,703	$ 6,757,799
Advisory Services Other Segments	0	0	0	0
Interest and dividend income	728,000	1,043,000	2,364,000	3,245,000
Interest expense	589,000	272,000	1,252,000	843,000
Net Segment Revenue	3,451,000	3,318,000	10,832,000	9,160,000
Other Income	(4,802,000)	(1,033,000)	(14,026,000)	(2,854,000)
Operating Expenses	(2,078,000)	(1,653,000)	6,216,000	5,134,000
Intercompany Expenses	0	0	0	0
Pre-tax book income	(3,428,806)	632,351	(9,410,422)	1,171,633
Assets	96,869,542		96,869,542		$ 122,084,641
Operating Segments [Member] | Asset Management Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Advisory services, external customers	3,312,000	2,547,000	9,720,000	6,758,000
Advisory Services Other Segments	29,000	35,000	85,000	108,000
Interest and dividend income	0	0	0	0
Interest expense	0	0	0	0
Net Segment Revenue	3,341,000	2,582,000	9,805,000	6,866,000
Other Income	0	0	0	0
Operating Expenses	(1,677,000)	(1,157,000)	4,914,000	3,396,000
Intercompany Expenses	0	0	0	0
Pre-tax book income	1,664,000	1,425,000	4,891,000	3,470,000
Assets	1,967,000		1,967,000		1,901,000
Operating Segments [Member] | Investment Portfolio Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Advisory services, external customers	0	0	0	0
Advisory Services Other Segments	0	0	0	0
Interest and dividend income	728,000	1,043,000	2,364,000	3,245,000
Interest expense	210,000	24,000	314,000	95,000
Net Segment Revenue	518,000	1,019,000	2,050,000	3,150,000
Other Income	(4,868,000)	(1,033,000)	(14,092,000)	(3,008,000)
Operating Expenses	(401,000)	(496,000)	1,302,000	1,738,000
Intercompany Expenses	(29,000)	(35,000)	85,000	108,000
Pre-tax book income	(4,780,000)	(545,000)	(13,429,000)	(1,704,000)
Assets	86,542,000		86,542,000		111,022,000
Corporate, Non-Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Advisory services, external customers	0	0	0	0
Advisory Services Other Segments	0	0	0	0
Interest and dividend income	0	0	0	0
Interest expense	379,000	248,000	938,000	748,000
Net Segment Revenue	(379,000)	(248,000)	(938,000)	(748,000)
Other Income	66,000	0	66,000	154,000
Operating Expenses	0	0	0	0
Intercompany Expenses	0	0	0	0
Pre-tax book income	(313,000)	(248,000)	(872,000)	(594,000)
Assets	8,361,000		8,361,000		$ 9,162,000
Intersegment Eliminations [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Advisory services, external customers	0	0	0	0
Advisory Services Other Segments	(29,000)	(35,000)	(85,000)	(108,000)
Interest and dividend income	0	0	0	0
Interest expense	0	0	0	0
Net Segment Revenue	(29,000)	(35,000)	(85,000)	(108,000)
Other Income	0	0	0	0
Operating Expenses	0	0	0	0
Intercompany Expenses	29,000	35,000	(85,000)	(108,000)
Pre-tax book income	$ 0	$ 0	$ 0	$ 0

SEGMENT INFORMATION - Revenue F

SEGMENT INFORMATION - Revenue From Major Customer (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Entity Wide Revenue Major Customer [Line Items]
Revenues	$ 4,039,663	$ 3,589,873	$ 12,083,514	$ 10,002,351
Orchid Island Capital [Member]
Entity Wide Revenue Major Customer [Line Items]
Revenues	$ 9,700,000	$ 6,800,000
Percentgage of Total Sales	80%	68%	80%	68%

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Investment Income, Dividend	$ 282,893	$ 506,095	$ 1,035,547	$ 1,518,284
Orchid Island Capital [Member]
Related Party Transaction [Line Items]
Investment Owned Balance Shares	519,071		519,071		519,071
Equity Method Investment Ownership Percentage	1.50%		1.50%		1.50%
Investment Income, Dividend	$ 300,000	$ 500,000	$ 1,000,000	$ 1,500,000