# CLIFTONLARSONALLEN WEALTH ADVISORS, LLC X-17A-5 (2025-03-19) — Broker-dealer annual report - Company: CLIFTONLARSONALLEN WEALTH ADVISORS, LLC - Form: X-17A-5 - Filed: 2025-03-19 - Period: 2024-12-31 - Accession: 0000944361-25-000003 - CIK: 944361 - File #: 8-48239 - Type: Broker-dealer - Material weakness: No - Auditor: Berkowitz Pollack Brant Advisors CPAs - Auditor location: Miami, FL - Contact: Jaclyn Suzanne Van Horrick - Phone: 612-376-4531 - Email: jaclyn.vanhorrick@claconnect.com - Website: claconnect.com - Signed by: Jaclyn Van Horrick (Director of Financial Operations and FinOP) Original filing: https://www.sec.gov/Archives/edgar/data/944361/000094436125000003/Public.pdf --- {0}------------------------------------------------ ### CLIFTONLARSONALLEN WEALTH ADVISORS, LLC ### FINANCIAL STATEMENT AS OF DECEMBER 31, 2024 {1}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** # **ANNUAL REPORTS FORM X-17A-S** 0MB APPROVAL 0MB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 | | SEC FILE NUMBER | | | |--|-----------------|--|--| | | B-48239 | | | | | PART Ill | | |-------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------|-------------------------------------------| | | FACING 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 0 1/01 /24 | | AND ENDING 12/31 /24 | | | MM/DD/YY | MM/DD/VY | | | A. REGISTRANT IDENTIFICATION | | | NAME oF FIRM : CliftonlarsonAllen Wealth Advisors, LLC | | | | TYPE OF REGISTRANT (check all applicable boxes):
~ Broker-dealer
0 Check here if respondent is also an OTC derivatives dealer | □ Security-based swap dealer | □ Major security-based swap participant | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | 220 South Sixth Street Suite 300 | | | | | (No. and Street) | | | Minneaplis | MN | 55402 | | (City) | (State) | (Zip Code) | | | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | Jaclyn Van Horrick | 612-376-4531 | jaclyn.vanhorrick@claconnect.com | | (Name) | (Area Code -Telephone Number) | (Email Address) | | | B. ACCOUNTANT IDENTIFICATION | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | | Berkowitz Pollack Brant Advisors + CPAs | | | | 200 S Biscayne Blvd, 7th Floor | (Name - if individual, state last, first, and middle name)
Miami | FL
33131 -5310 | | (Address) | (City) | (State)
(Zip Code) | | 10/22/2023 | | 52
I | | l"
of Re,;s1,,t100 wlth PCAOB)ln ap~lcable) | | {PCAOB Re~si,atlbo Nombec, ;f applirable) | \* 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-S(e)(l)(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 0MB control number.** **FOR OFFICIAL USE ONLY** {2}------------------------------------------------ ### **OATH OR AFFIRMATION** | I, Jaclyn Van Horrlck | swear (or affirm) that, to the best of my knowledge and belief, the | | |-----------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------|-------| | financial report pertaining to the firm of ClinonLarsonAllen Wealth Advisors, LLC | | as of | | 2~
12/31 | 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. | | | Financial Operations Principal ~ ,{ hd-=tf: Notary Puhlc ### This filing0 contains (check **all applicable boKes):** - ii (a) Statement of financial condition. - Iii (bl Notes to consolidated statement of financial condition. - 0 (c) Statement of Income (loss) or, if there is other comprehensive income in the perlod(s) presented, as a ement of comptehensive income (as defined in§ 210.1-02 of Regulation 5-X). - □ (d) Statement of cash flows. - D (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - D (f) Statement of **changes** in liablllties subordinated to claims of creditors. - D (g) Notes o consolidated financial statements. - D (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-l, as applicable. - D (i) Computation of tangible net worth under 17 CFR 240.18a-2. - D U) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240. l5c3-3. - D (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. - D (I) Computation for Determlnatlon of PAB Requirements under Exhibit A to§ 240.15c3-3. - D (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - □ In) 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. - D (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.l8a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.1Sc3-3 or 17 CFR 240. lSa-4, as applicable, if material differences exist, or a statement that no material differences exi5t - D (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - ii (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. - D (r) Compliance report in accordance with 17 CfR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - D (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a•7, as applicable. - ii (t) Independent public accountant's report based on an examination of the statement of financial condition. - (u) lndependen public accountant's report based on an examination of t he financial report or 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.l?a•S or 17 CFR 240.lSa-7, as applicable. - D {w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.lSa-7, as applicable. - (x) Supplemental reports on applying agreed-upon procedu es, in accordance with 17 CFR 240.15c3-le or 17 CFR 240.l7a-l2, as applicable. - D (y) Report describing any material inadequacies found to ex:ist or 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). D (z) Other: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_\_\_ \_ - - •ro request confidential treatment af certain portions of this filing, see 17 CFR 240.17a-5{e){3) or 17 CFR 240.18a-7(d}{2), as appl/cable. {3}------------------------------------------------ | REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 1 | |---------------------------------------------------------|------| | FINANCIAL STATEMENT | | | STATEMENT OF FINANCIAL CONDITION | 2 | | NOTES TO FINANCIAL STATEMENT | 3-10 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors of CliftonlarsonAllen Wealth Advisors, LLC and Those Charged with the Governance of CliftonlarsonAllen, LLP, as sole member of CliftonlarsonAllen Wealth Advisors, LLC Minneapolis, Minnesota ### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of CliftonlarsonAllen Wealth Advisors, LLC (the "Company") as of December 31, 2024, and the related notes (collectively, referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Company as of December 31, 2024, in conformity with accounting principles generally accepted in the United States of America. ### **Basis for Opinion** The financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statement 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 statement is 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 statement, 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 statement. 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 statement. We believe that our audit provides a reasonable basis for our opinion. We have served as the Company's auditor since 2022. Miami, Florida March 17, 2025 {5}------------------------------------------------ ### **CLIFTONLARSONALLEN WEALTH ADVISORS, LLC STATEMENT OF FINANCIAL CONDITION AS OF DECEMBER 31, 2024** ### **ASSETS** | ASSETS | | | |----------------------------------------------|----|------------| | Cash and Cash Equivalents | | 13,366,816 | | Accounts Receivable and Work in Process, Net | | 5,172,660 | | Other Assets and Prepaid Expenses | | 122,457 | | Notes Receivable | | 66,667 | | Property and Equipment, Net | | 515 | | Total Assets | \$ | 18,729,115 | | LIABILITIES AND MEMBER'S EQUITY | | | | LIABILITIES | | | | Accounts Payable and Accrued Expenses | | 593,959 | | | \$ | | | Accrued Payroll and Related Benefits | 1,217,832 | |--------------------------------------|-----------| | Payable to Member (note 3) | 669,942 | | Total Liabilities | 2,481,733 | | COMMITMENTS (note 4) | | | MEMBER'S EQUITY | | | Contributed Capital | 25,000 | Retained Earnings | Total Member's Equity | 16,247,382 | | |---------------------------------------|------------|------------| | Total Liabilities and Member's Equity | \$ | 18,729,115 | 16,222,382 The accompanying notes are an integral part of this financial statement. {6}------------------------------------------------ #### **NOTE 1 DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** ### **Description of Business** CliftonlarsonAllen Wealth Advisors, LLC (the Company), a Minnesota limited liability company, was organized on February 15, 1995 and is registered as an investment advisor with the Securities and Exchange Commission (SEC). Effective October 27, 1995, the Company registered w ith the Financial Industry Regulatory Authority, Inc. (FINRA) as a broker-dealer. The Company does not carry or hold custody of customer assets. The Company is a wholly owned subsidiary of CliftonlarsonAllen LLP (Member). The Company has expense sharing and professional services agreements with the Member (see note 3). The Company is engaged in investment advisory, financial and estate planning, and other financial services throughout the United States. ### **Basis of Presentation** The accompanying financial statements have been prepared in accordance with accounting and reporting practices predominant in the broker-dealer industry and in accordance with accounting principles generally accepted in the United States of America (GAAP). ### **Government and Other Regulation** The Company's business activities are subject to significant regulation by various governmental agencies and self-regulatory organizations. Such regulation includes, among other requirements, periodic examinations by these regulatory bodies to determine whether the Company is conducting and reporting its operations in accordance with the applicable requirements of these organizations. ### **Cash and Cash Equivalents** Cash represents cash deposits held at financial institutions. Cash equivalents include shortterm highly liquid investments of sufficient credit quality that are readily convertible to known amounts of cash. Cash equivalents are held for the purpose of meeting short-term liquidity requirements, rather than for investment purposes. For purposes of the statement of cash flows, the Company considers highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. There were no cash equivalents as of December 31, 2024. ### **Accounts Receivable and Work in Process. Net** Accounts receivable from customers and unbilled work in process relate to services provided. The Company does not customarily require collateral for providing such services. Accounts receivable is stated at the amount management expects to collect from outstanding balances. Management provides for probable uncollectible amounts through a charge to earnings and a credit to the credit loss allowance based on its assessment of the collections risk inherent within such accounts. Balances still outstanding after management has used reasonable collection efforts are written off through a charge to the credit loss allowance and a credit to accounts receivable and work in process. The composition of Accounts Receivable and Work in Process, Net, as of December 31, 2024 and 2023, is as follows: {7}------------------------------------------------ ### **NOTE 1 DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES {CONTINUED)** | | December 31, 2024 | December 31, 2023 | |-----------------------------------|-------------------|-------------------| | Accounts Receivable | \$
5,309,403 | \$
4,313,933 | | Less: Allowance for Credit Losses | (144,500) | (102,500) | | Work in Process | 7,974 | 14,363 | | Less: Unbilled Reserve | (217) | (225) | | | \$
5,172,660 | \$
4,225,571 | ### **Notes Receivable** The Company has various notes receivable agreements relating to the services provided to certain customers. Notes receivable are non-interest bearing and call for periodic payments through December 31, 2026. No allowance for credit losses was deemed necessary for outstanding notes receivable at December 31, 2024. ### **Depreciation and Amortization** Property and equipment are depreciated and amortized over their estimated useful lives by using the straight-line method. The estimated useful lives of the property and equipment are as follows: | Equipment | 3-10 Years | |-----------|------------| | Software | 3 Years | ### **Revenue Recognition** The revenue streams in the discussion below include those that are within the scope of Accounting Standards Codification (ASC) 606. Interest income is generated from cash held in interest bearing accounts and is recognized when earned. For all revenue streams discussed below, the revenue generated is from a single transaction price. The customer for all revenues derived from open-end and closed-end funds described in detail below has been determined to be the fund itself and not the ultimate underlying investors in the fund. {8}------------------------------------------------ ### **NOTE 1 DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES {CONTINUED)** Significant judgments that affect the amounts and timing of revenue recognition are summarized below: The timing of revenue recognition for each revenue stream is based upon an analysis of current contract terms. Performance obligations could, however, change from time to time if and when existing contracts are modified or new contracts are entered into. These changes could potentially affect the timing of satisfaction of performance obligations, the determination of the transaction price, and the allocation of the transaction price to performance obligations. In the case of the revenue streams discussed below, the performance obligation is satisfied either at a point in time or over time. For performance correlated and conditional revenues, the performance obligation (advising a client portfolio) is satisfied over time, while recognition of revenues effectively occurs at the end of the measurement period as defined within the contract, as such amounts are subject to reduction to zero on the date where the measurement period ends even if the performance benchmarks were exceeded during the intervening period. The judgments outlined below, where the determination as to these factors is discussed in detail, are continually reviewed and monitored by the Company when new contracts or contract modifications occur. Transaction price is in all instances formulaic and not subject to significant (or any) judgment. The allowance for credit losses is subject to judgment. At December 31, 2024 and 2023, management's estimate for the allowance for credit losses was \$144,500 and \$102,500, respectively. Investment Advisory Fees - The Company provides investment advisory services on a daily basis. The Company believes the performance obligation for providing advisory services is satisfied over time because the customer is receiving and consuming the benefits as they are provided by the Company. Fee arrangements are based on a pre-determined percentage applied to the customer's assets under management at the previous quarter-end. Fees are received quarterly and are recognized as revenue at that time as they relate specifically to the services provided in that period, which are distinct from the services provided in other periods. Distribution Fees - The Company enters into arrangements with managed accounts or other pooled investment vehicles (funds) to distribute shares to investors. The Company may receive distribution fees paid by the fund up front or over time. The Company believes that its performance obligation is the sale of securities to investors and as such this is fulfilled on the trade date. Any fixed amounts are recognized on the trade date and variable amounts are recognized to the extent it is probable that a significant revenue reversal will not occur once the uncertainty is resolved. For variable amounts, as the uncertainty is dependent on the value of the shares at future points in time as well as the length of time the investor remains in the fund, both of which are highly susceptible to factors outside the Company's influence, the Company does not believe that it can overcome this constraint until the market value of the fund and the investor activities are known, which are usually quarterly. Distribution fees recognized in the current period are primarily related to performance obligations that have been satisfied in prior periods. {9}------------------------------------------------ ### **NOTE 1 DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES {CONTINUED)** Brokerage Commissions - The Company buys and sells securities on behalf of its customers. Each time a customer enters into a buy or sell transaction, the Company charges a commission. Commissions and related clearing expenses are recorded on the trade date (the date that the Company fills the trade order by finding and contracting with a counterparty and confirms the trade with the customer). The Company believes that the performance obligation is satisfied on the trade date because that is when the underlying financial instrument or purchaser is identified, the pricing is agreed upon and the risks and rewards of ownership have been transferred to/from the customer. Insurance Commissions - The Company arranges insurance policies on behalf of its customers with various insurance providers. When the customer purchases an insurance policy the Company receives a percentage of the premium as a commission. Commissions are recorded on the effective date (the date the customer purchases the insurance policy). Commissions are substantially recognized on the effective date of the associated insurance policy. Variable Annuity Commissions - The Company purchases variable annuity policies on behalf of its customers. Each time a customer enters into an agreement to purchase a variable annuity policy the Company receives a commission. Commissions are based on a predetermined percentage applied to the customer's annuity balance at quarter-end. Fees are received quarterly and are recognized as revenue at that time as they relate specifically to the services provided in that period, which are distinct from the services provided in other periods. Investment Banking Revenue - The Company provides advisory services for investment banking transactions. Revenue for advisory and consulting arrangements is recognized when the performance obligation, as stated in the contract, is satisfied and it is not probable that the revenue recognized would be subject to significant reversal in a future period. Generally, it is probable that the revenue recognized is no longer subject to significant reversal upon the closing of the investment banking transaction. However, for certain contracts, revenue is recognized over time for advisory arrangements in which the performance obligations are simultaneously provided by the Company and consumed by the customer. Other Fees - These services are recognized in the period the service is provided. Work in process represents unbilled amounts (contract assets) for services performed. There were no material contract assets or contract liabilities outstanding as of December 31, 2024 and 2023. {10}------------------------------------------------ ### **NOTE 1 DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES {CONTINUED)** ### **Recent Accounting Pronouncement** In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07-Segment Reporting (Topic 280)-lmprovements to Reportable Segment Disclosures, which introduces improvements to the information that a broker dealer discloses about its reportable segments and addresses investor requests for more information about reportable segment expenses. This ASU does not change the current guidance related to the identification of operating segments, the determination of reportable segments, or the aggregation criteria. Rather, the new guidance introduces additional disclosure requirements and expands those requirements to entities with a single reportable segment, not just entities with multiple reportable segments. The amendments in this ASU are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company adopted the provisions of this ASU for the year ended December 31, 2024. The following describes the impact of the adoption of this ASU in the accompanying financial statements: In identification of operating segments, an operating segment is a component of a company that has all the following characteristics: a. It engages in business activities from which it may recognize revenues and incur expenses; b. Its operating results are regularly reviewed by the entity's Chief Operating Decision Maker (CODM) to make decisions about resources to be allocated to the segment and assess its performance; and c. Its discrete financial information is available. The Company has one reportable segment: Advisory, which generates revenue from customers by charging fees, commissions, and other forms of income for the services it provides to its customers. Such revenue streams are further described earlier in this footnote disclosure under Revenue Recognition. The Company has identified the Chief Wealth Advisory Officer as the CODM, who uses net income to evaluate the results of the business and how to allocate resources based on net income in managing the operations of the Company. Additionally, the CODM may also use excess net capital, which is not a measure of profit and loss, to make operational decisions, while maintaining capital adequacy to meet the Company's regulatory requirements, such as whether to reinvest profits or declare dividends to the sole member. The measurement of segment assets and liabilities are reported in the accompanying statement of financial condition as total assets and total liabilities, respectively. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the Company as a whole. {11}------------------------------------------------ ### **NOTE 1 DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES {CONTINUED)** ### **Income Taxes** The Company is not a taxpaying entity for federal and state income tax purposes; therefore, no income tax expense has been recorded. Income and losses generated by the Company are passed through to the Member and to the partners of the Member in their respective income tax returns. The Company recognizes uncertain tax positions in accordance with GAAP, which prescribes a recognition threshold and measurement process. There were no uncertain tax positions to be recognized as of December 31, 2024. Interest and penalties on tax liabilities, if ever assessed, would be recorded as a component of the income tax provision. ### **Use of Estimates** The preparation of the financial statement in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statement. Actual results could differ from those estimates. ### **Concentrations of Risk** Cash - The Company maintains its cash balances in a financial institution which is insured by the Federal Deposit Insurance Corporation (FDIC). The Company's account balances that are non-interest-bearing accounts are subject to the Dodd-Frank Walk Street Reform and Consumer Protection Act (the Act). The Company's interest-bearing cash balances may exceed the FDIC coverage of \$250,000. The Company has not experienced any losses in such accounts and believes it is not subject to any significant credit risk on cash. Accounts Receivable - At December 31, 2024, three customers represented 87% of the total outstanding accounts receivable balance. Approximately 91% of these outstanding receivables were collected in full during 2025. One of these customer's outstanding accounts receivable balance consists of a note receivable requiring periodic payments to be made through maturity (September 2025). ### **Subsequent Events** In preparing this financial statement, the Company has evaluated events and transactions for potential recognition or disclosure through March 17, 2025, the date this financial statement was issued. {12}------------------------------------------------ #### **NOTE 2 RETIREMENT PLAN** The Company participates in the CliftonlarsonAllen LLP 401(k) Retirement Plan (the Plan) which allows eligible employees to make contributions from their compensation. The Plan covers employees who meet certain eligibility requirements and allows employees to defer a portion of their eligible compensation, up to the maximum dollar limit set by law. To be an eligible participant, the employee must meet minimum age and service requirements outlined in the Plan. The Plan requires the Company to contribute 50% for each dollar contributed by the participant. The Company's matching contribution is limited to the first 4% of employee contributions each plan year. The Company may also make a discretionary contribution to the Plan. The Company did not make a discretionary contribution for the year ended December 31, 2024. No amounts were owed to the Plan as of December 31, 2024. ### **NOTE 3 RELATED PARTY TRANSACTIONS** The Company has Expense Sharing and Professional Services agreements with the Member. Such agreements allow the Company to charge the Member for services it provides to the Member at mutually agreed upon rates and terms as well as for the Member to charge the Company for certain overhead and administrative expenses it incurs on behalf of the Company which includes occupancy, payroll, benefits and other administrative and support costs at predetermined rates. These agreements have right of offset provisions. At December 31, 2024, the Company had a net payable owed to the Member totaling \$669,942. This net payable is noninterest bearing, payable on demand and was settled in full during 2025. #### **NOTE4 COMMITMENTS** The Company has entered into various contracts to purchase software services with varying terms expiring through November 2025. The future minimum annual fees required under these contracts with non-cancellable terms are as follows: | | Years Ending | | | |------|---------------|--|--| | | December 31. | | | | 2025 | 272,300 | | | | | \$
272,300 | | | {13}------------------------------------------------ ### **NOTE 5 NET CAPITAL REQUIREMENT** The Company is subject to the Securities and Exchange Commission Uniform Net Capital Rule (Rule 15c3-1), which requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. At December 31, 2024, the Company had net capital of \$10,885,083, as defined by Rule 15c3- 1, which was \$10,719,634 in excess of its required net capital of \$165,449. The Company had aggregated indebtedness at December 31, 2024 in the amount of \$2,481,733. ### **NOTE 6 SUBSEQUENT EVENTS** Subsequent to year end and through the date this financial statement was issued, the Company made one distribution to the Member totaling \$22,000,000. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.