# GB CAPITAL MARKETS LLC X-17A-5 (2024-02-23) — Broker-dealer annual report - Company: GB CAPITAL MARKETS LLC - Form: X-17A-5 - Filed: 2024-02-23 - Period: 2023-12-31 - Accession: 0000856770-24-000003 - CIK: 856770 - File #: 8-41854 - Type: Broker-dealer - Material weakness: No - Auditor: Goldman & Company CPAs - Auditor location: Marietta, GA - Contact: Jennifer Ratner - Phone: 202-550-5676 - Email: jennifer@gbcapitalmarkets.io - Website: gbcapitalmarkets.io - Signed by: Jennifer Ratner (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/856770/000085677024000003/auditfinal1.pdf --- {0}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235-0123 Expires: Oct. 31, 2023 Estimated average burden hours per response: 12 # ANNUAL REPORTS FORM X-17A-5 PART III | SEC FILE NUMBER | | |-----------------|--| | 8-70213 | | FAANG PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 filing for the period beginning 01/01/2023 MM/DD/YY AND ENDING 12/31/2023 MM/DD/YY A. REGISTRANT IDENTIFICATION # NAME OF FIRM: GB CAPITAL MARKETS, LLC TYPE OF REGISTRANT (check all applicable boxes): El Broker-dealer Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) # 1011 NORTH CAROLINA AVE SE | | B. ACCOUNTANT IDENTIFICATION | | | |----------------------------------------------|--------------------------------|------------------------------|--| | (Name) | (Area Code - Telephone Number) | (Email Address) | | | JENNIFER RATNER | 202 550.5676 | jennifer@gbcapitalmarkets.io | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | (City) | (State) | (Zip Code) | | | WASHINGTON | DC | 20003 | | | | (No. and Street) | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* ## Goldman & Company CPAs | (Name - if individual, state last, first, and middle name) | | | | |------------------------------------------------------------|-----------------------|---------|--------------------------------------------| | 3535 Roswell Rd # 32 | Marietta | | GEORGIA 30062 | | (Address) | (City) | (State) | (Zip Code) | | 06/29/2009 | | 19592 | | | (Date of Registration with PCAOB)(if applicable) | | | (PCAOB Registration Number, if applicable) | | | FOR OFFICIAL USE ONLY | | | \* Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5{e}(1)(ii), if applicable. Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. {1}------------------------------------------------ #### OATH OR AFFIRMATION | JENNIFER RATNER | | | | | |-----------------|--|--|--|--| | | | | | | swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of GB CAPITAL MARKETS LLC as of 1231 2 023 is true and correct. I further swear (or affirm) that neither the company nor any partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely as that of a customer. Notary Public #### This filing \*\* contains (check all applicable boxes): - (a) Statement of financial condition. - (b) Notes to consolidated statement of financial condition. - (c) Statement of income (loss) or, if there is other comprehensive in the period(s) presented, a statement of comprehensive income (as defined in § 210.1-02 of Regulation S-X). - (d) Statement of cash flows. - (e) Statement of changes in stockholders or partners or sole proprietor's equity. - [] (f) Statement of changes in liabilities subordinated to claims of creditors. - (g) Notes to consolidated financial statements. - (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - [i] Computation of tangible net worth under 17 CFR 240.18a-2. - (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - [ (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - [] Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. - (m) Information relating to possession or control requirements for customers under 17 CFR 240.1563-3. - [ (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable. - (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist. - [ (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. - [r] Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - (t) Independent public accountant's report based on an examination of the statement of financial condition. - @ (u) Independent public accountant's report based on an examination of the financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - [ (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - [w] Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7. as applicable. - [] {x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as applicable. - [ {y) Report describing any material inadequacies found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). - O (z) Other: - \*\* To request confidential treatment of certain portions of this filing, see 17 CFR 240.170-5(e)(3) or 17 CFR 240.180-7(d)(2), as applicable. Signature: Itte: CEO {2}------------------------------------------------ # **GB CAPITAL MARKETS LLC FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES** **For the Year Ended December 31, 2023** **(With Report of Independent Registered Public Accounting Firm Thereon)** **(These financial statements and schedule(s) should be deemed confidential pursuant to subparagraph (e)(3) of SEC Rule 17a-5.)** {3}------------------------------------------------ #### **GB CAPITAL MARKETS, LLC Table of Contents For the Year Ended December 31, 2023** | REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRMǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͳ | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | FINANCIAL STATEMENTS | | –ƒ–‡‡–'ˆ ‹ƒ…‹ƒŽ'†‹–‹'ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤʹ
–ƒ–‡‡–'ˆ'‡"ƒ–‹'•ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤ͵
–ƒ–‡‡–'ˆŠƒ‰‡•‹‡"‡"ǯ•"—‹–›ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͶ
–ƒ–‡‡–'ˆƒ•Š Ž'™•ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͷ
NOTES TO THE FINANCIAL STATEMENTSǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤ͸ | | SUPPLEMENTAL SCHEDULES
…Ї†—އ ǣ
''—–ƒ–‹''ˆ‡–ƒ'‹–ƒŽ—†‡"—އͳͷ…͵Ǧͳ'ˆ–Ї‡…—"‹–‹‡•ƒ†
š…Šƒ‰‡…–'ˆͳͻ͵ͶǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͳͳ
…Ї†—އ ǣ
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'ˆͳͻ͵ͶǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͳʹ
…Ї†—އ ǣ ˆ'"ƒ–‹'‡Žƒ–‹‰–'–Ї'••‡••‹''"'–"'އ"—‹"‡‡–•—†‡"–Ї
‡…—"‹–‹‡•ƒ†š…Šƒ‰‡'‹••‹'—އͳͷ…͵Ǧ͵ǥǥǥǥǥǥǥǥǥǥǥǥǥǥͳ͵ | | REPORTS ON BROKER DEALER EXEMPTIONǥǥǥǥ………….………………
14 | {4}------------------------------------------------ #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member of GB Capital Markets, LLC #### **Opinion on the Financial Statements** We have audited the accompanying statement of financial condition of GB Capital Markets, LLC as of December 31, 2023, the related statements of operations, changes in member's equity and cash flows for the year ended December 31, 2023 and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of GB Capital Markets, LLC as of December 31, 2023, and the results of its operations and its cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** These financial statements are the responsibility of GB Capital Markets, LLC 's management. Our responsibility is to express an opinion on GB Capital Markets, LLC's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the company in accordance with the U.S Federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion. #### **Auditor's Report on Supplemental Information** The Schedule's I- Computation of Net Capital Under SEC Rule 15c3-1, Schedule II-Computation for Determination of Reserve Requirements Pursuant to SEC Rule 15c3-3 (exemption) and Schedule III Information Relating to Possession or Control Requirements Pursuant to SEC Rule 15c3-3 (exemption) have been subjected to audit procedures performed in conjunction with the audit of GB Capital Markets, LLC 's financial statements. The supplemental information is the responsibility of GB Capital Markets, LLC 's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with 17 C.F.R. §240.17a-5. In our opinion, the schedule's I, II. and III are fairly stated, in all material respects, in relation to the financial statements as a whole. We have served as the Company's auditor since 2023. Goldman & Company, CPA's, P.C. Marietta, Georgia February 19, 2024 {5}------------------------------------------------ ### **GB CAPITAL MARKETS, LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2023** | ASSETS | | | |----------------------------------------------------------|----|--------------------------| | ƒ•ŠƬƒ•Š"—‹˜ƒŽ‡–•
—‡ˆ"'ƒ"‡–
"‡'ƒ‹†‡''•‹–•ƒ†𒇐•‡• | ̈́ | ʹͳǡͺͶ͹
ʹǡʹͻ͵
͵ǡ͹͵͸ | | TOTAL ASSETS | ̈́ | ʹ͹ǡͺ͹͸ | | LIABILITIES AND MEMBER'S EQUITY | | | | LIABILITIES | | | | ……'—–•ƒ›ƒ"އǡ……"—‡†𒇐•‡•ƒ†–Ї"‹ƒ"‹Ž‹–‹‡• | ̈́ | ʹǡͲʹ͸ | | TOTAL LIABILITIES | | ʹǡͲʹ͸̴̴̴̴ | | MEMBER'S EQUITY | | ʹͷǡͺͷͲ | | TOTAL LIABILITIES AND MEMBER'S EQUITY | ̈́ | ʹ͹ǡͺ͹͸ | {6}------------------------------------------------ ### **GB CAPITAL MARKETS, LLC STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 2023** | REVENUE | | | |-------------------------------------------|------------|-----------| | †˜‹•'"› ‡‡•




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| ͳʹǡͲͲͲ | | '–ƒŽ‡˜‡—‡





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| ̈́ͳͳͷǡ͵͹ͳ | | | | | | EXPENSES | | | |
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| ͳͲǡͶͻͶ | |
"'ˆ‡••‹'ƒŽ‡"˜‹…‡ ‡‡•



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| ͸ʹǡͷͳͶ | |
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| ͳʹǡ͵͵Ͳ | |
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| ͵ͲͲ | | "ƒ˜‡Žǡ‡ƒŽ•Ƭ–‡"–ƒ‹‡–


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̈́ | ͳʹ͹ǡͶͻ͹ | | NET LOSS





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̈́ | ȋͳʹǡͳʹ͹Ȍ | {7}------------------------------------------------ ### **GB CAPITAL MARKETS, LLC STATEMENT OF CHANGES IN MEMBER'S EQUITY FOR THE YEAR ENDED DECEMBER 31, 2023** | BALANCE AT DECEMBER 30, 2022 | ̈́
ʹ͸ǡͻ͹͹ | |------------------------------|--------------| | '–"‹"—–‹' | ͳͳǡͲͲͲ | | ‡–'•• | ȋͳʹǡͳʹ͹Ȍ | | BALANCE AT DECEMBER 31, 2023 | ̈́
ʹͷǡͺͷͲ | {8}------------------------------------------------ ## **GB CAPITAL MARKETS, LLC STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2023** | ̈́ | ȋͳʹǡͳʹ͹Ȍ | |----------|--------------------| | | | | | ͷǡͲͷ͸ | | | ͳǡͷͲͷ | | ʹǡͲʹ͸ | | | | ̈́ȋ͵ǡͷͶͲȌ | | | ͳͳǡͲͲͲ
̈́ͳͳǡͲͲͲ | | ͹ǡͶ͸Ͳ | | | | | | | | | ̈́ʹͳǡͺͶ͹ | | | | ͳͶǡ͵ͺ͹ | {9}------------------------------------------------ #### **1. Organization and Nature of Business** ȋȀȀ ǡ ǤȌȋDzdzȌǡ ǡǦ ȋDzdzȌ ȋDz dzȌǤ ȋDzdzȌǤ ͺǡʹͲʹʹȋDzdzȌǡ ǡ Ǥ Ǥ Ǥ #### **2. Significant Accounting and Reporting Policies Basis of Presentation** ȋ Ȍ ȋ Ȍ ȋȌǤ Ǥ #### **Use of Estimates** ǤǤ #### **Cash and Cash Equivalents** ȋȌǡǡ ǤȋȌ ȋȌǤ ǦǦ ǤǤ #### **Revenue** ȋ Ȍ ʹͲͳͶǦͲͻǡ ȋ ʹͲͳͶǦͲͻȌ ̵ ʹͲͳǦͲͺǡ Ǥ ȋ ʹͲͳǦͲͻȌǤ Ǥ {10}------------------------------------------------ Ǥ ǡ ǣȌ ǡȌǡȌ ǡ Ȍ ǡȌȋȌǤ ̵ Ǥǡ Ǥ ǡ ǡ ǡǤ #### **Success Fees** Ǥ ǡ ǤǤ #### **Advisory Fees** Ǥ Ǥ ǡ Ǥ #### **Fair Value Measurements** Ȃ ͺʹͲǡ ǡ Ǥ Ǧ Ǥ ͳȌ Ǥ {11}------------------------------------------------ ʹȌ ͳ ǡǤ ͵Ȍ ǯ ǦǤ ǡ Ǥ Ǥ ǡȂ Ǥ ǡǡ Ǥ #### **Income Taxes** ǡǤ Ǥ ǡ ǯǤ͵ͳǡʹͲʹ͵ǡ Ǥ Ǥ ### **3. Related Parties** ȋDzdzȌ ǡ͵ͲǡʹͲʹ͵ ǤͳǡʹͲʹ͵ǡ Ǥ̈́ǡͲͲͲʹͲʹ͵ ǯǤ ǯǡ Ǣ̈́͵ǡͶͷͲǤ ʹͲʹ͵̈́ʹǡʹͻ͵ ͵ͳǡ ʹͲʹ͵Ǥ ͳǡʹͲʹ͵ǡǡ ̈́͵ͲͲǤ Ǧͺ ʹͲʹ͵ǡ̈́ͷǡͲͲͲǤ {12}------------------------------------------------ ǡ ǡ ǯ ǡ ǡ ǤȋDz dzȌǡ Ǥ ̈́ͺǡͲͲͲ ʹͲʹ͵ǡ̈́ͳͳǡͲͲͲ ǯǤ ### **4. Net Capital Requirements** ̵ȋͳͷ͵ǦͳȌ ͳͻ͵ͶǤǡ ǡǡ̈́ͷǡͲͲͲ ʹȀ͵ΨǤ ͳͷͲͲΨͳͷǣͳǤ͵ͳǡʹͲʹ͵ǡ̈́ͳͻǡͺʹͳ ̈́ͳͶǡͺʹͳ ̈́ͷǡͲͲͲǤ ͳͲǤʹʹΨǤ ### **5. Subordinated Liabilities** ǡǡ͵ͳǡʹͲʹ͵Ǥ ### **6. Subsequent Events** ͵ͳǡ ʹͲʹ͵ǡ ͳͻǡʹͲʹͶǤǡ ͵ͳǡʹͲʹ͵ǡǤ ### **7. Commitments, Contingencies, Guarantees, and Going Concern** ǡǡǡ Ǥ ǡ Ǥ #### **8. Concentrations** ʹͲΨ ͵ͳǡʹͲʹ͵Ǥ {13}------------------------------------------------ **Supplemental Schedules** {14}------------------------------------------------ #### **GB CAPITAL MARKETS, LLC** #### **Schedule I – Computation of Net Capital under Rule 15c3-1 of the Securities and Exchange Act of 1934** **December 31, 2023** | COMPUTATION OF NET CAPITAL | | | |-----------------------------------------------------------------------------------------------------------------------------------------------|----|-----------| | TOTAL MEMBER'S EQUITY | ̈́ | ʹͷǡͺͷͲ | | LESS: | | | | 'ǦƒŽŽ'™ƒ"އƒ••‡–• | | | | "‡'ƒ‹††‡''•‹–•ƒ†‡š'‡•‡• | | ͸ǡͲʹͻ | | NET CAPITAL | | ̈́ͳͻǡͺʹͳ | | ‹‹—†'ŽŽƒ"‡–…ƒ'‹–ƒŽ"‡"—‹"‡‡–'ˆ"‡''"–‹‰""'‡"Ǧ†‡ƒŽ‡"ȋ‰"‡ƒ–‡"'ˆ
‹‹—‡–…ƒ'‹–ƒŽ"‡"—‹"‡‡–'ˆ̈́ͷǡͲͲͲ'"͸ʹȀ͵Ψ'ˆƒ‰‰"‡‰ƒ–‡‹†‡"–‡†‡••Ȍ̈́ | | ͷǡͲͲͲ | | EXCESS NET CAPITAL | ̈́ | ͳͶǡͺʹͳ | | AGGREGATE INDEBTEDNESS | ̈́ | ʹǡͲʹ͸ | | MINIMUM NET CAPITAL BASED ON AGGREGATE INDEBTEDNESS | | ̈́ͳ͵ͷ
| | PERCENTAGE OF AGGREGATE INDEBTEDNESS TO NET CAPITAL | | ͳͲǤʹʹΨ | ̵ ǦͳǦͷ͵ͳǡʹͲʹ͵ǡ ʹͷǡʹͲʹͶ {15}------------------------------------------------ #### GB CAPITAL MARKETS, LLC #### Schedule II – Computation for Determination of Reserve Requirements for Brokers and Dealers Pursuant to Rule 15c3-3 under the Securities and Exchange Act of 1934 December 31, 2023 The company does not claim an exemption from SEA Rule 15c3-3, in reliance on footnote 74 to SEC Release 34-70073, and as discussed in Q&A 8 of the related FAQ issued by SEC staff. The Company did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, did not carry accounts of customers of or for customers, and 3) did not carry PAB accounts (as defined in Rule 15c3-3) throughout the year ending December 31, 2023, without exception. {16}------------------------------------------------ #### GB CAPITAL MARKETS, LLC #### Schedule III - Information Relating to the Possession or Control Requirements under the Securities and Exchange Commission Rule 15c3-3 December 31, 2023 The company does not claim an exemption from SEA Rule 15c3-3, in reliance on footnote 74 to SEC Release 34-70073, and as discussed in Q&A 8 of the related FAQ issued by SEC staff. The Company did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, 1) did not carry accounts of customers of or for customers, and 3) did not carry PAB accounts (as defined in Rule 15c3-3) throughout the year ending December 31, 2023, without exception. {17}------------------------------------------------ #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member of GB Capital Markets, LLC We have reviewed management's statements, included in the accompanying Rule 15c3-3 Exemption Report pursuant to SEC Rule 17a-5, in which (1) GB Capital Markets, LLC(the Company) did not claim an exemption under paragraph (k) of 17 C.F.R. §240.15c3-3, and (2) the Company is filing this Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 because the Company limits its business activities exclusively to include participating in receiving transaction-based compensation for identifying potential merger and acquisition opportunities for clients In addition, the Company did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of Rule 15c2-4 and/or funds received and promptly transmitted for effecting transactions via subscriptions on a subscription way basis where the funds are payable to the issuer or its agent and not to the Company; did not carry accounts of or for customers; and did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception. GB Capital Markets, LLC's management is responsible for compliance with the exemption provisions and its statements. Our review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included inquiries and other required procedures to obtain evidence about GB Capital Markets, LLC's compliance with the exemption provisions. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's statements. Accordingly, we do not express such an opinion. Based on our review, we are not aware of any material modifications that should be made to management's statements referred to above for them to be fairly stated, in all material respects, based upon the Company's business activities contemplated by Footnote 74 of the SEC Release No. 34- 70073 adopting amendments to 17 C.F.R. § 240.17a-5, and related SEC Staff Frequently Asked Questions. Goldman & Company, CPA's, P.C. Marietta, Georgia February 19, 2024 {18}------------------------------------------------ ![](_page_18_Picture_0.jpeg) #### Exemption Report GB Capital Markets LLC (the "Company") is a registered broker-dealer subject to Rule l 7a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240.l 7a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R. §240.17a-5(d)(l) and (4). To the best of its knowledge and belief, the Company states the following: - (1) The Company does not claim an exemption under paragraph (k) of 17 C.F.R. § 240. 15c3-3, and - (2) The Company is filing this Exemption Report relying on Footnote 74 of SEC Release No. 34-70073 and as discussed in Q&A 8 of the related FAQ issued by SEC staff. The Company has no obligation under SEC Rule 15c3-3 because business activities are limited exclusively to private placements of securities and corporate finance services including mergers and acquisitions, valuations, fairness opinions, and business and strategic advice and the Company does not directly receive, hold, or otherwise owe funds or securities for or to customers; does not carry accounts of or for customers; and does not carry PAB accounts, and - (3) The Company had no exceptions to the provision identified above throughout the most recent fiscal year. l, Jennifer Ratner, swear (or affirm) that, to my best knowledge and belief, this Exemption Report is true and GB Capital Markets LLC By: Jennifer Ratner Title: CEO 01/19/2024 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.