# CORINTHIAN PARTNERS, L.L.C. X-17A-5 (2022-03-01) — Broker-dealer annual report - Company: CORINTHIAN PARTNERS, L.L.C. - Form: X-17A-5 - Filed: 2022-03-01 - Period: 2021-12-31 - Accession: 0000948391-22-000001 - CIK: 948391 - File #: 8-48461 - Type: Broker-dealer - Material weakness: No - Auditor: RGNC&S CPAs PLLC - Auditor location: Woodbury, NY - Contact: Ana R Carter - Phone: 813-442-1645 - Email: acarter@corinthianpartners.com - Website: corinthianpartners.com - Signed by: Mitchell Manoff (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/948391/000094839122000001/cp2021.pdf --- {0}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** 0MB APPROVAL 0MB Number: 3235-0123 Expires: Oct. 31, 2023 Estimated average burden hours per response: l 2 # **ANNUAL REPORTS FORM X-17A-S PART** Ill | SEC FILE NUMBER | | |-----------------|--| 8-48461 **FACING PAGE Information Required Pursuant** to Rules 17a-5, **17a-12, and l&a-7** under the **Securities** Exchange Act of **1934** FILING FOR THE PERIOD BEGINNING \_\_\_ 0\_1\_/0\_1\_/2\_1 \_\_\_ AND ENDING \_\_\_ 1\_2\_/3\_1\_/\_2\_1 \_\_ \_ MM/00/YY MM/DD/YY **A. REGISTRANT IDENTIFICATION** NAME oF FIRM : \_\_\_\_\_ C\_o\_ri\_nt\_h\_ia\_n\_P\_a\_rt\_n\_e\_r\_s\_, L\_L\_C \_\_\_\_\_\_\_\_ \_ TYPE OF REGISTRANT (check all applicable boxes): 0 Broker-dealer O Security-based swap dealer 0 Major security-based swap participant D Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) 850 Third Avenue, 14th Floor (No. and Street) New York NY (City) (State) PERSON TO CONTACT WITH REGARD TO THIS FILING 10022 (Zip Code) Ana R. Carter 813-442-1645 acarter@corinthianpartners.com (Name) (Area Code -Telephone Number) (Email Address) **B. ACCOUNTANT IDENTIFICATION** INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* Raphael Goldberg Nikpour Cohen & Sullivan, CPA's PLLC 97 Froehlich Farm Blvd. {Address) 02/23/2010 (Name - if individual, state last, first, and middle name) Woodbury (City) NY (State) 5028 11797 (Zip Code) **l" of ReOstcatioa with PCAOB)llf applicable) FOR OFFICIAL USE ONLY {PCAOB Regotcatioa N,mbec,** " **applicable)** I • 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. {1}------------------------------------------------ #### **OATH OR AFFIRMATION** | __________________
Mitchell Manoff
I, | | | __, swear (or affirm) that, to the best of my knowledge and belief, the | | | | |---------------------------------------------|--------------------------------------------|----|-------------------------------------------------------------------------------------------------------------------------------------|-------|--|--| | | financial report pertaining to the firm of | | Corinthian Partners, LLC | as of | | | | | December 31 | 2~ | is true and correct. I further swear (or affirm) that neither the company nor any | | | | | | as that of a customer. | | partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely | | | | **Carl M Simms** Title: **CEO Notary Public, State of New Yo.~------------------** .. **Registration No. 01 S16188175 Qualified** in **New York** County **My Commission Expires June 2, 2024** ### **This filing\*\* contains (check all applicable boxes):** - 0 (a) Statement of financial condition. - D (b) Notes to consolidated statement of financial condition. - **0** (c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of comprehensive income (as defined in§ 210.1-02 of Regulation S-X). - 0 (d) Statement of cash flows. - 0 (e) .Statement of changes in stockholders' or partners' or sole proprietor's equity. - D (f) Statement of changes in liabilities subordinated to claims of creditors. - 0 (g) Notes to consolidated financial statements. - 0 (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - D (i) Computation of tangible net worth under 17 CFR 240.18a-2. - 0 U) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - 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 Determination of PAB Requirements under Exhibit A to § 240.15c3-3 .. - 0 (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - D (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. - 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 240.18a-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. - D (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - 0 (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-S or 17 CFR 240.18a-7, as applicable. - 0 (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - D (t) Independent public accountant's report based on an examination of the statement of financial condition. - 0 (u) Independent public accountant's report based on an examination of the 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 240.17a-5 or 17 CFR 240.18a-7, as applicable. - 0 (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. - 0 (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-le or 17 CFR 240.17a-12, as applicable. - D (y) Report describing any material inadequacies found to exist 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: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_ - *\*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable.* {2}------------------------------------------------ # **FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES PURSUANT TO RULE 17A-5 UNDER THE SECURITIES EXCHANGE ACT OF 1934** **DECEMBER 31, 2021** {3}------------------------------------------------ # **FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION YEAR ENDED DECEMBER 31 , 2021** # **CONTENTS** | Report of Independent Registered Public Accounting Firm 1 | | |---------------------------------------------------------------------------------------------------------------------------------------------------|--| | FINANCIAL STATEMENTS: | | | Statement of financial condition 2 | | | Income Statement 3 | | | Statement of changes in member's equity 4 | | | Statement of cash flows 5 | | | Notes to financial statements



6-11 | | | SUPPLEMENTAL INFORMATION TO FINANCIAL STATEMENTS: | | | Computation of net capital under Rule 15c3-1 of the Securities and Exchange
Commission 12 | | | Computation of aggregate indebtedness under Rule 1 ?a-5 of the Securities
and Exchange Commission 13 | | | Computation of determination of reserve requirement and information relating to
Possession or control requirements under SEC Rule 15c3-3 14 | | | Exemption report 15 | | | Report of Independent Registered Public Accounting Firm regarding Rule 15c3-3
exemption report 16 | | | SEC Rule 15c3-3 exemption report 17 | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) Mark C. Goldberg , CPA Mark Raphael , CPA Floria Samii-Nikpaur, CPA Allan B. Cohen , CPA Michael R. Sullivan, CPA Found ing Partner: Melvin Goldberg, CPA Anita C. Jacobsen, CPA # **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Members of Corinthian Partners, LLC #### **Opinion on the Financial Statements** We have audited the accompanying statement of financial condition of Corinthian Partners, LLC (the 'Company") (a limited liability company), as of December 31 , 2021 and the related income statement, changes in member's equity, and cash flows for the year ended December 31 , 2021 , and the related notes to the financial statements. In our opinion, the financial statements present fairly, in all material respects, the financial position of Corinthian Partners, LLC as of December 31 , 2021 , and the results of its operations and its cash flows for the year ended December 31 , 2021 , in conformity with accounting principles generally accepted in the United States of America. ### **Basis for Opinion** These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company'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 audits provide a reasonable basis for our opinion. #### **Auditors' Report on Supplemental Information** The supplemental information, the Computation of Net Capital under Rule 15c3-1 of the Securities and Exchange Commission and the Computation for Determination of Reserve Requirements and information Relating to Possession and Control Requirements under SEC Rule 15c3-3 as contained on pages 12 and 14, has been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. The supplemental information is the responsibility of the Company'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 supplemental information, the Computation of Net Capital under Rule 15c3-1 of the Securities and Exchange Commission and the Computation for Determination of Reserve Requirements and information Relating to Possession and Control Requirements under SEC Rule 15c3-3, is fairly stated in all material respects, in relation to the financial statements as a whole. Raphael Goldberg Nikpour Cohen & Sullivan Certified Public Accountants PLLC We have served as the Company's auditors since 2016 Woodbury, New York February 28, 2022 {5}------------------------------------------------ # **STATEMENT OF FINANCIAL CONDITION DECEMBER 31 , 2021** **ASSETS** Current assets: | Cash and cash equivalents | \$
41 ,518 | |---------------------------------------|---------------| | Due from clearing firm | 88 ,878 | | Securities owned, at fair value | 13,734 | | Undeposited funds | 15 | | Total current assets | 144,145 | | Other assets: | | | Deposits with clearing firm | 50 ,000 | | Prepaid expenses and deposits | 16,810 | | Total other assets | 66,810 | | | | | | \$
210,955 | | LIABILITIES AND MEMBER'S EQUITY | | | Current liabilities: | | | Accounts payable and accrued expenses | \$
123,135 | | Due to an affiliate | 14,795 | | Total current liabilities | 137,930 | | Member's equity | 73,025 | | | | | | \$
210,955 | | | | The accompanying notes are an integral part of these financial statements. {6}------------------------------------------------ # **INCOME STATEMENT YEAR ENDED DECEMBER 31 , 2021** | REVENUES: | | |-----------------------------------|-----------------| | Commission and transaction income | \$
1,028,443 | | Consulting income | 85,523 | | Unrealized loss | ( 3,907) | | Other income | 38 ,292 | | Total revenues | 1,148,351 | | EXPENSES: | | | Payroll and commission expense | 1,029,237 | | Clearing firm charges | 40 ,227 | | Regulatory fees and expenses | 15,617 | | Occupancy and equipment | 37,431 | | Office Expense | 11 ,884 | | Professional fees | 124,856 | | Other operating expenses | 7,496 | | Total expenses | 1,266,748 | | Operating Loss | (118,397) | | Forgiveness of PPP loans | 166,022 | | NET INCOME | \$
47,625 | The accompanying notes are an integral part of these financial statements. {7}------------------------------------------------ # STATEMENT OF CHANGES IN MEMBER'S EQUITY Year Ended December 31 , 2021 | | | Contributed
Capital | | Retained
Earnings
(Accumulated
Deficit) | | Total
Member's
Equity | | |------------------------------|----|------------------------|----|--------------------------------------------------|----|-----------------------------|--| | Balances, January 1, 2021 | \$ | 735,444 | \$ | (710,044) | \$ | 25,400 | | | Capital contributions | | | | | | | | | Net income | | | | 47,625 | | 47,625 | | | Balances, December 31 , 2021 | \$ | 735,444 | \$ | (662,419) | \$ | 73,025
========= | | The accompanying notes are an integral part of these financial statements. {8}------------------------------------------------ ### STATEMENT OF CASH FLOWS YEAR ENDED DECEMBER 31 , 2021 #### CASH FLOWS FROM OPERATING ACTIVITIES: | Net income
Adjustments to reconcile net income to net cash
provided by operating activities: | \$ | 47,625 | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|------------------------------------------------------------------------------------------------| | Changes in operating assets and liabilities:
Forgiveness of PPP loans
Due from clearing firm
Due to/from related parties
Securities owned , at fair value
Prepaid expenses
Undeposited funds
Accounts payable and accrued expense
Deposits
Net cash used by operating activities | | ( 166,022)
(
14,781)
11 ,768
10,657
6,824
15)
16,921
2,874)
89,897) | | CASH FLOWS FROM FINANCING ACTIVITIES:
Loans
Net cash provided by financing activities | | 80,190
80,190 | | NET CHANGE IN CASH
CASH, beginning of year | | (
9,707)
51 ,225 | | CASH, end of year | \$ | 41 ,518
========= | | SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid during the year for:
Income taxes
Interest | \$
\$ | 1,500
1,071 | The accompanying notes are an integral part of these financial statements. {9}------------------------------------------------ # NOTES TO FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31 , 2021 # **NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS ACTIVITY** #### **Company Operations** Corinthian Partners, LLC (the "Company") is engaged in the securities and investment banking business. The Company is a broker-dealer registered with the Securities and Exchange Commission ("SEC") and the Financial Industry Regulatory Authority ("FINRA"). The Company is also a member of the Securities Investor Protection Corporation ("SIPC"). The Company is a single member Delaware limited liability company and is a wholly owned subsidiary of Corinthian Holdings, LLC (the "Parent Company") which is the sole managing member. ## **NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** #### **Concentration of Credit Risk** The Company maintains its cash in bank deposit accounts at high quality financial institutions. The balances, at times , may exceed the Federal Deposit Insurance Corporation's (the "FDIC") current \$250,000 limit. At December 31 , 2021 the Company did not exceed the federally insured limit. #### **Accounting Method** The Company's financial statements are prepared using the accrual basis as specified in the AICPA's Audit and Accounting Guide - "Audits of Brokers and Dealers in Securities". Customer transactions are recorded on a settlement date basis for financial statement and tax purposes. Direct business transactions are recorded on the cash basis as payment is received from the carrier. Revenues from investment banking related transactions are recognized when the performance obligations have been met. Securities owned and securities sold , but not yet purchased , are reported at fair value. #### **Revenue Recognition** On January 1, 2019, the Company adopted ASU 2014-09 Revenue from Contracts with Customers and all subsequent amendments to the ASU (collectively, "ASC 606"), which creates a single framework for recognizing revenue from contracts with customers that fall within its scope. Revenue is measured based on a consideration specified in a contract with a customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control over goods or service to a customer. Services within the scope of ASC 606 include the following: #### **Investment Brokerage Fees** The Company earns brokerage fees from its contracts with brokerage customers to transact on their account. Fees are transaction based , including trade execution services, are recognized at the point in time that the transaction is settled , i.e. , the settlement date. {10}------------------------------------------------ ### NOTES TO FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31 , 2021 # **NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)** #### **Mutual Fund and 12b1 Fees** Mutual Funds or pooled investment vehicles (collectively, "funds") have entered into agreements with the Company to distribute/sell its shares to investors. Fees are paid up front and over time (12b-1 fees) on the basis of a contractual rate applied to the monthly or quarterly market value of the fund (that is, net asset value [NAV]), the fund may also pay, upon investor exit from the fund (that is, a contingent deferred sales charge [CDSC]), or as a combination thereof. Revenue is recognized monthly as services are provided. #### **Investment Banking Services** These services include agreements to provide advisory services to customers for which they charge the customers fees. The Company provides advisory services/corporate finance activity including mergers and acquisitions, reorganizations , tender offers, leveraged buyouts, fundraising activity and the pricing of securities to be issued. The agreement contains nonrefundable retainer fees or success fees , which may be fixed or represent a percentage of value that the customer receives if and when the corporate finance activity is completed ("success fees"). In some cases, there is also an "announcement fee" that is calculated on the date that a transaction is announced based on the price included in the underlying sale agreement. The retainer fees , announcement fee, or other milestone fees reduce any success fee subsequently invoiced and received upon the completion of the corporate finance activity. The Company has evaluated its nonrefundable retainer payments, to ensure its fee relates to the transfer of a good or service, as a distinct performance obligation, in exchange for the retainer. If a promised good or service is not distinct, the Company combines that good or service with other promised goods or services until it identifies a bundle of goods or services that is distinct. In some cases, that would result in the broker-dealer accounting for all the services promised in a contract as a single performance obligation and the retainer revenue is classified as deferred revenue on the Statement of Financial Condition. There were no deferred revenues at December 31 , 2021. #### **Customer Accounts** #### **Customer Accounts - Fully Disclosed Basis** The Company operates pursuant to paragraph (k)(2)(ii) of Rule 15c3-3 and does not carry customer accounts or clear customer transactions. Accordingly, all customer transactions for client assets help at the clearing firm are executed and cleared on behalf of the Company by RBC Correspondent Services ("RBC") on a fully disclosed basis. The Company's agreement with RBC provides that as a clearing broker, RBC will make and keep such records of the transactions affected and cleared in the customer accounts as are customarily made and kept by a clearing broker pursuant to the requirements of Rules 1 ?a-3 and 1 ?a-4 of the Securities Exchange Act of 1934, as amended , and will perform all services customarily incident thereto. All customer funds and securities received , if any, are promptly transmitted directly to RBC. As a result, the Company is exempt from the remaining provisions and requirements of Rule 15c3-3. {11}------------------------------------------------ # NOTES TO FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31 , 2021 # **NOTE 2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)** #### **Customer Accounts - Directly Held Assets** Certain client assets are held away from RBC (i.e. investments in annuities, life insurance policies, mutual funds , REIT's, etc.). All customer funds received , if any, are promptly transmitted directly to the carrier. #### **Use of Estimates** The preparation of these financial statements in conformity with generally accepted accounting principles requires the use of estimates based on management's knowledge and experience. Due to their prospective nature, actual results could differ from those estimates. #### **Marketable Securities** Proprietary securities transactions are recorded on the trade date and valued at fair market value. Amounts receivable and payable for security transactions that have not yet reached their contractual settlement date are recorded net on the statement of financial condition and marked-to-market as needed. ### **Receivables** Receivables are 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 a valuation allowance based on its assessment of the current status of individual accounts. Balances that are still outstanding after management has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable. At December 31 , 2021 no allowance was deemed necessary by management. There were no write-offs of uncollectable amounts recognized during 2021. # **Cash and Cash Equivalents** For purposes of the statement of cash flows , the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. At December 31 , 2021 , there were no cash equivalents. #### **New Accounting Pronouncements** The Financial Accounting Standards Board ("FASB") issued ASU 2016-02 Leases ("ASC 842") on February 25, 2016. ASC 842 replaces ASC 840 and is effective for public business entities for annual periods beginning December 15, 2018. The Company is evaluating this new lease accounting standard and will implement as required. #### **Subsequent Events** The Company has evaluated events and transactions that occurred between January 1, 2021 and February 28 , 2022, which is the date the financial statements were available to be issued , for possible disclosure and recognition in the financial statements. The Company has determined that there were no subsequent events. {12}------------------------------------------------ ## NOTES TO FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31 , 2021 # **NOTE 3** - **NET CAPITAL REQUIREMENTS** Pursuant to the net capital provisions of Rule 15c3-1 of the Securities Exchange Act of 1934, the Company is required to maintain a minimum level of net capital , as defined under such provisions. Additionally, the Company is required to maintain a net capital ratio (a ratio of aggregate indebtedness to net capital) of not more than 1500%. At December 31 , 2021 , the Company had net capital of \$48,130 which was \$38 ,935 in excess of its required capital of \$9,195. The Company's ratio of aggregate indebtedness to net capital was 2.866 to 1 as of December 31 , 2021. The Company does not handle cash or securities on behalf of customers. Therefore, the Company is exempt from the requirements of SEC Rule 15c3-3. # **NOTE 4 - RELATED PARTY TRANSACTIONS** The Company has an expense sharing agreement ("ESA") with Corinthian Partners Asset Management, LLC ("CPAM"), an affiliate through common ownership, and its Parent Company. As part of the ESA, the Company allocates advisory fees and corresponding commission expense to CPAM. Under the ESA, the Company also invoices CPAM for rent and compensation expenses incurred as a result of overseeing the affiliate's activities. For the year ended December 31 , 2021 , the revenues and expenses allocated to CPAM were as follows: | Advisory Fees, net of commission | \$11 ,768 | |----------------------------------|-----------| | Rent | \$ 1,050 | | Compensation | \$21 ,174 | | Consulting Services | \$12,840 | At December 31 , 2021 , the Company had a \$14 ,795 payable to its affiliate, Corinthian Partners Asset Management, LLC. Corinthian Capital , LLC, a minority owner of Corinthian Holdings, LLC, has represented that they will continue to fund the operations the Company. # **NOTE 5 - LOANS** The Company borrowed \$166,022 under the Paycheck Protection Program **("PPP")** established by the Coronavirus Aid , Relief, and Economic Security ("CARES") Act sponsored by the United States and administered by the Small Business Administration (the "SBA"). In May 2020, the Company received a **PPP** loan in the amount of \$85,832. The loan was used for eligible expenditures such as payroll and other expenses described in the CARES Act and was subsequently forgiven in April 2021. In March 2021 , the Company received a second **PPP** loan in the amount of \$80,190. This loan was also used for eligible expenditures such as payroll and other expenses described in the CARES Act and was subsequently forgiven as well in December 2021. {13}------------------------------------------------ # NOTES TO FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31 , 2021 # **NOTE 6 - LEASE COMMITMENTS** Effective January 1, 2019, the Company adopted the new lease accounting guidance in ASU 2016-02, Leases (Topic 842). Lessees are required to recognize lease assets and lease liabilities on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The Company leases office space in New York, NY under a month-to-month lease at present cost of \$2,700 per month. This lease does not meet the requirements of ASU 2016-02. Rent expense for 2021 was \$31 , 197. # **NOTE 7** - **COMMITMENTS AND CONTINGENCIES** In the normal course of business, customer complaints may arise. Some of these complaints may lead to civil actions. The Company is subject to at least one FINRA arbitration matter as of December 31 , 2021 stemming from the actions of registered representatives who are no longer with the Company. At this time, the Company does not believe any pending litigation will have a material effect on the financial position of the firm. The Company has not established a reserve at this time, as the amount of any potential loss is undeterminable. # **NOTE 8- FAIR VALUE MEASUREMENTS** Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 820 , Fair Value Measurements and Disclosures, defines fair value, establishes a framework for measuring fair value, and establishes a fair value hierarchy which prioritizes the inputs to valuation techniques. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market. Valuation techniques that are consistent with the market, income or cost approach, as specified by ASC 820, are used to measure fair value. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad areas: Level 1 - Inputs to the valuation methodology are quoted prices available in active markets for identical investments as of the reporting date. Level 2 - Inputs to the valuation methodology are: - Quoted prices for similar assets or liabilities in active markets. - Quoted prices for identical or similar assets or liabilities in inactive markets. - Inputs other than quoted prices that are observable for the asset or liability. Level 3 - Inputs to the valuation methodology are unobservable inputs in situations where there is little or no market activity for the asset or liability, and the reporting entity makes estimates and assumptions related to the pricing of the asset or liability, including assumptions regarding risk. {14}------------------------------------------------ # NOTES TO FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31 , 2021 # **NOTE 8- FAIR VALUE MEASUREMENTS (Continued)** The Company owned two securities at December **31 , 2021 ,** priced using Level **1** inputs and valued at **\$13,734.** # **NOTE 9 - GUARANTEES** The Company has not issued any guarantees during the year ended December 31 , 2021. {15}------------------------------------------------ # COMPUTATION OF NET CAPITAL UNDER RULE 15c3-1 OF THE SECURITIES AND EXCHANGE COMMISSION As of DECEMBER 31 , 2021 | COMPUTATION OF NET CAPITAL | | |------------------------------------------------------------------------------|---------------------------| | Total ownership equity from Statement of Financial Condition | \$
73,025 | | Deduct ownership equity not allowable for net capital | | | Total ownership equity qualified for net capital | 73,025 | | Deductions and/or charges: | | | Non-allowable assets from Statement of Financial Condition: | | | Prepaid expenses and deposits | 16,825 | | Net capital before haircuts on securities positions | 56,200 | | Less: Haircuts and undue concentration | 8,070 | | Net capital | \$ ==4=8,=13=0= | | | | | COMPUTATION OF BASIC NET CAPITAL REQUIREMENT | | | Minimum net capital required | \$
9,195 | | Minimum dollar net capital requirement of reporting broker-dealer | 5,000 | | Net capital requirement (greater of above) | 9,195 | | Excess net capital | \$
38,935
========= | | Net capital less greater of 10% of aggregate indebtedness or 120% of minimum | | | dollar net capital requirement of reporting broker-dealer | \$
34,337
========= | | | | There are no material differences between the preceding calculation and the Company's corresponding unaudited Part II A of Form X-17 A-5 as of December 31 , 2021. {16}------------------------------------------------ # COMPUTATION OF AGGREGATE INDEBTEDNESS UNDER RULE 17a-5 OF THE SECURITIES AND EXCHANGE COMMISSION As of DECEMBER 31 , 2021 # **COMPUTATION OF AGGREGATE INDEBTEDNESS** Total aggregated indebtedness liabilities from Statement of Financial Condition: **Add:** Drafts for immediate credit Market value of securities borrowed for which no equivalent value is paid or credited Other unrecorded amounts \$ 137,930 Total aggregate indebtedness \$ 137,930 ========= Ratio of aggregate indebtedness to net capital 2.866 to 1 {17}------------------------------------------------ #### COMPUTATION OF DETERMINATION OF RESERVE REQUIREMENT AND INFORMATION RELATING TO POSSESSION OR CONTROL REQUIREMENTS FOR BROKERS AND DEALERS UNDER SEC RULE 15C3-3 #### DECEMBER 31 , 2021 The Company claims exemption from the provisions of Rule 15c3-3 (the "Rule") under the Securities Act of 1934, in that the Company's activities are limited to those set forth in the conditions from exemption appearing in paragraph (k)(2)(ii) of the Rule. {18}------------------------------------------------ ![](_page_18_Picture_0.jpeg) Mark C. Goldberg, CPA Mark Raphael , CPA Floria Samii-Nikpour, CPA Allan B. Cohen, CPA Michael R. Sullivan, CPA Founding Partner: Melvin Goldberg, CPA Anita C. Jacobsen, CPA # **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Members of Corinthian Partners, LLC We have reviewed management's statements, included in the accompanying SEC Rule 15c3-3 Exemption Report, in which (1) Corinthian Partners, LLC identified the following provisions of 17 C.F.R. §15c3-3(k) under which Corinthian Partners, LLC claimed an exemption from 17 C.F .R. §240.15c3-3: (k)(2)(ii) (the "exemption provisions") and (2) Corinthian Partners, LLC stated that Corinthian Partners, LLC met the identified exemption provisions throughout the most recent fiscal year without exception. Corinthian Partners, 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 Corinthian Partners, 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 on the provisions set forth in paragraph (k)(2)(ii) of Rule 15c3-3 under the Securities Exchange Act of 1934. ~~NJ~{]~ i ~ Cit~ 14~ Raphael Goldberg Nikpour Cohen & Sullivan Certified Public Accountants PLLC Woodbury, New York February 28, 2022 {19}------------------------------------------------ # EXEMPTION REPORT # FOR THE YEAR ENDED DECEMBER 31 , 2021 Corinthian Partners, LLC (the "Company") is a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. 240. 17a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R. 140.17a-5(d)(1) and (4). To the best of its knowledge and belief, the Company assets the following: - 1) The Company claimed an exemption from 17 C.F.R. 240. 15c3-3 under the provisions of 17 C.F.R. 240.15c3'-3(k)(2) throughout the year ended December 31 , 2021. - 2) The Company met the identified exemption provisions in 17 C.F.R. 240. 15c3-3(k)(2)(ii) throughout the year ended OE!cember 31 , 2021 without exception. The assertions are the re§j'.)dnsibility of management. The Company acknowledges it is also management's responsibility for compli~hde with the identified exemption provisions throughout the year ended December 31, 2021. The Company has made available to the accountants all records and other information relevant to the Company's assertions, including all communications from regulatory agencies, external auditors, others who perform an equivalent function, compliance functions and other auditors concerning possible exceptions to the exemption provisions, received through February 28, 2022. There were no events, subsequent to the period addressed in the Company's assertions, any known events or other factors that might significantly affect the broker's or dealer's compliance with the identified exemption provisions. #### CORINTHIAN PARTNERS, LLC I, Mitchell Manoff, swear (or affirm) that, to my best knowledge and belief, this Exemption Report is true and correct. . ~.,,,.,,,/ ~ By: ~ ~~---\_-·t;c \_ \_ ~-~---- Title: Chief Compliance Officer Date: February 28, 2022 {20}------------------------------------------------ ![](_page_20_Picture_0.jpeg) Mark C. Goldberg, CPA Mark Raphael , CPA Floria Samii-Nikpour, CPA Allan B. Cohen, CPA Michael R. Sullivan, CPA Founding Partner: Melvin Goldberg, CPA Anita C. Jacobsen, CPA # **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ON APPLYING AGREED-UPON PROCEDURES** To the Members of Corinthian Partners LLC We have performed the procedures included in Rule 17a-5(e)(4) under the Securities Exchange Act of 1934 and in the Securities Investor Protection Corporation (SIPC) Series 600 Rules, which are enumerated below and were agreed to by Corinthian Partners LLC and the SIPC, solely to assist you and SIPC in evaluating Corinthian Partners LLC 's compliance with the applicable instructions of the General Assessment Reconciliation (Form SIPC-7) for the year ended December 31 , 2021. Corinthian Partners LLC's management is responsible for its Form SIPC-7 and for its compliance with those requirements. This agreed-upon procedures engagement was conducted in accordance with standards established by the Public Company Accounting Oversight Board (United States) and in accordance with attestation standards established by the American Institute of Certified Public Accountants. The sufficiency of these procedures is solely the responsibility of those parties specified in this report. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose. The procedures we performed and our findings are as follows: - 1) Compared the listed assessment payments in Form SIPC-7 with respective cash disbursement records entries, noting no differences; - 2) Compared the Total Revenue amount reported on the Annual Audited Report Form X-17 A-5 Part Ill for the year ended December 31 , 2021 with the Total Revenue amount reported in Form SIPC-7 for the year ended December 31 , 2021 , noting no differences; - 3) Compared any adjustments reported in Form SIPC-7 with supporting schedules and working papers, noting no differences; - 4) Recalculated the arithmetical accuracy of the calculations reflected in Form SIPC-7 and in the related schedules and working papers supporting the adjustments, noting no differences; and - 5) Compared the amount of any overpayment applied to the current assessment with the Form SIPC-7 on which it was originally computed, noting no differences. We were not engaged to and did not conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on Corinthian Partners LLC's compliance with the applicable instructions of the Form SIPC-7 for the year ended December 31 , 2021. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you. This report is intended solely for the information and use of Corinthian Partners LLC and the SIPC and is not intended to be and should not be used by anyone other than these specified parties. ~~f{J~C~ i ~ *Cl~'~* fi,u, Raphael Goldberg Nikpour Cohen & Sullivan Certified Public Accountants PLLC Woodbury, New York February 28, 2022 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.