# DASH PRIME LLC X-17A-5 (2026-03-02) — Broker-dealer annual report - Company: DASH PRIME LLC - Form: X-17A-5 - Filed: 2026-03-02 - Period: 2025-12-31 - Accession: 0001015560-26-000004 - CIK: 1015560 - File #: 8-49339 - Type: Broker-dealer - Material weakness: No - Auditor: Grant Thornton - Auditor location: New York, NY - Contact: Collin Carrico - Phone: 312 690 2512 - Email: collin.carrico@iongroup.com - Website: iongroup.com - Signed by: John Collin Carrico (President, Chief Financial Officer and Manager of the LLC) Original filing: https://www.sec.gov/Archives/edgar/data/1015560/000101556026000004/dpaudit.pdf --- {0}------------------------------------------------ ### Dash Prime LLC (A Delaware Limited Liability Company) Financial Statements And Supplementary Information With Report of Independent Registered Public Accounting Firm December 31, 2025 {1}------------------------------------------------ #### UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 #### ANNUAL REPORTS FORN P | OMB APPROVAL | | |-------------------------|----| | OMB Number: 3235-0123 | | | xpires: Nov. 30, 2026 | | | stimated average burden | | | ours per response: | 12 | SEC FILE NUMBER 1 I I \$ | FORM X-17A-5 | 8-49339 | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------| | PART III | | | FACING PAGE
Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 193
FILING FOR THE PERIOD BEGINNING 01/01/25
MM/DD/YY | AND ENDING 12/31/2025
MM/DD/YY | | A. REGISTRANT IDENTIFICATION | | | NAME OF FIRM: Dash Prime LLC | | | TYPE OF REGISTRANT (check all applicable boxes):
[] Broker-dealer _ _ _ _ Security-based swap dealer _ _ _ Major security-based swap participant
Check here if respondent is also an OTC derivatives dealer | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | 200 South Wacker Drive - Suite 2450 | | | | (No. and Street) | | | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|--------------------------------------------|-----------------------------| | Chicago | | | 60606 | | (City) | (State) | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | Collin Carrico | 312 690 2512 | | collin.carrico@iongroup.com | | (Name) | (Area Code - Telephone Number) | (Email Address) | | | | B. ACCOUNTANT IDENTIFICATION | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
Grant Thornton LLP - Partner - Danilsa Lopez - 212 624 5234 - danilsa.lopez@us.gt.com | | | | | | (Name - if individual, state last, first, and middle name) | | | | 757 Third Avenue - 9th Floor | New York | NY | 10017 | | (Address) | (City) | (State) | (Zip Code) | | 09/24/2003 | | 248 | | | (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. {2}------------------------------------------------ #### OATH OR AFFIRMATION I Collin Carrico | | | | | , swear (or affirm) that, to the best of my knowledge and belief, the | | |-----------------------------------------------------------|--|--|--|-----------------------------------------------------------------------|-------| | financial report pertaining to the firm of Dash Prime LLC | | | | | | | | | | | | as of | | | | | | | | 2025 , is true and correct. I further swear (or affirm) that neither the company nor on partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified shely as that of a customer. Signature Title: President #### 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 income 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 20.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - □ (1) 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 240.15c3-3. - □ (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 240.18a-1, or 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. evirt 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 report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - O (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, 12, 12, 12, 12, 12, 12, 12, 12, 12, 12, 12, 12, 12, 1 as applicable. - a statement that no 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). [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 1 applicable. {3}------------------------------------------------ #### INDIVIDUAL ACKNOWLEDGMENT | | ����������������������������������������� | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | lond
State/Commonwealth of | | | Nelm
County of | SS. | | On this the l
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Year | | Name of Notary Public | the undersigned Notary Public, | | JOHN Collin Car | | | personally appeared __________________________________________________________________________________________________________________________________________________________ | Name(s) of Signer(s) | | | | | | D personally known to me - OR - | | LUIS GARCIA
Notary Public - State of Florida | Oproved to me on the basis of satisfactory evidence | | Commission # HH 537254
My Comm. Expires Jun 11, 2028 | to be the person(s) whose name(s) is/are subscribed
to the within instrument, and acknowledged to me
that he/she/they executed the same for the purposes
therein stated. | | | WITNESS my hand and official seal. | | | | | | | | | | | | | | | Signature of Notary Public | | | ( 5 = 5 ( | | | | | | Any Other Required Information | | Place Notary Seal/Stamp Above | (Printed Name of Notary, Expiration Date, etc.) | | | | | | - OPTIONAL | | | This section is required for notarizations performed in Arizona but is optional in other states.
Completing this information can deter alteration of the document or fraudulent reattachment
of this form to an unintended document. | | Description of Attached Document | | | | | | | Title or Type of Document: 12 m noal reports farm Y - 19 A- & PA-5 1 | | Document Date: 220 /26 | Number of Pages: _____________________________________________________________________________________________________________________________________________________________ | | Signer(s) Other Than Named Above: __ N ( A | | | | . | M1304-07 (09/23) Used for states (AL, AZ, CO, CT, DE, GA, IA, ID, IL, IN, KS, KY, LA, MD, ME, MI, MN, MS, MT, NC, ND, NE, NH, NJ, NM, OK, OR, RI, SC, SD, TN, VA, VT, WV, MV, WY) {4}------------------------------------------------ #### Index | REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 1 | |------------------------------------------------------------------------------------------------------------------------------------------------------| | STATEMENT OF FINANCIAL CONDITION 3 | | STATEMENT OF INCOME 4 | | 5 | | STATEMENT OF CHANGES IN SUBORDINATED DEBT 6 | | STATEMENT OF CASH FLOWS 7 | | NOTES TO FINANCIAL STATEMENTS 8 | | COMPUTATION OF NET CAPITAL PURSUANT TO UNIFORM NET CAPITAL RULE 15C3-1 15 | | COMPUTATION FOR DETERMINATION OF RESERVE REQUIREMENTS AND INFORMATION
RELATING TO POSSESSION AND CONTROL REQUIREMENTS PURSUANT TO RULE 15c3-3 16 | | REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ON EXEMPTION REPORT 17 | | EXEMPTION REPORT 18 | | -UPON PROCEDURES REPORT ON SCHEDULE OF
ASSESSMENT AND PAYMENTS (SIPC-7) 19 | | SIPC ASSESSMENT WORKSHEET 21 | {5}------------------------------------------------ ![](_page_5_Picture_0.jpeg) 757 Third Ave., 9th Floor New York, NY 10017 D +1 212 599 0100 F +1 212 370 4520 #### GRANT THORNTON LLP REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Member Dash Prime LLC #### Opinion on the financial statements We have audited the accompanying statement of financial condition of Dash Prime LLC (a Delaware limited liability company) (the Company) as of December 31, 2025, and the related statements of income, changes in members equity, changes in subordinated debt, and cash flows for the year then ended, and the related notes (collectively referred to as the financial statements) that are filed pursuant to Rule 17a-5 under the Securities Exchange Act of 1934 and Regulation 1.16 under the Commodity Exchange Act. In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025, 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 the Companys management. Our responsibility is to express an opinion on the Companys 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. The Company is not required to have, nor were we engaged to perform an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control over financial reporting. Accordingly, we express no such opinion. 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 {6}------------------------------------------------ ![](_page_6_Picture_0.jpeg) overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion. #### Supplemental information The information contained in Schedules I and II has been subjected to audit procedures performed in conjunction with the audit of the Companys financial statements. Such 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 Schedules I and II. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with Rule 17a-5 under the Securities Exchange Act of 1934 and Regulation 1.16 under the Commodity Exchange Act. In our opinion, the supplemental information referred to above is fairly stated, in all material respects, in relation to the financial statements as a whole. We have served as the Companys auditor since 2019. New York, New York February 20, 2026 {7}------------------------------------------------ #### Dash Prime LLC (A Delaware Limited Liability Company) STATEMENT OF FINANCIAL CONDITION As of December 31, 2025 | Assets | | |------------------------------------------------------------|-----------------| | Cash and cash equivalents | \$
790,890 | | Certificate of deposit | 250,000 | | Clearing deposits | 4,124,393 | | Receivables from broker-dealers, net | 1,679,763 | | Operating lease right-of-use asset | 1,065,889 | | Fixed assets, net of accumulated depreciation of \$185,611 | 102,273 | | Other assets | 251,983 | | Total Assets | \$
8,265,191 | | Liabilities | | | Accounts payable and accrued expenses | \$
1,745,001 | | Operating lease right-of-use liability | 1,299,356 | | Total Liabilities | 3,044,357 | | Member
equity | 5,220,834 | | Total Liabilities and Member
s Equity | \$
8,265,191 | The accompanying notes are an integral part of these financial statements. {8}------------------------------------------------ #### Dash Prime LLC (A Delaware Limited Liability Company) STATEMENT OF INCOME For the Year Ended December 31, 2025 | Revenues | | |--------------------------------------------------------|------------| | Commissions | 19,993,937 | | Execution credits, net | 5,806,736 | | Interest overrides | 910,722 | | Total Revenues | 26,711,395 | | Expenses | | | Clearing expense | 6,030,509 | | Employee compensation and benefit expense | 3,260,026 | | Bad debt expense | 1,267,975 | | Office expense | 943,462 | | Execution expense | 834,176 | | Registered representative commission expense | 767,869 | | Third party trading, operating and risk system expense | 759,135 | | Consulting and professional fee expense | 355,338 | | Telecommunication expense | 190,132 | | Error account expense | 140,735 | | Travel and entertainment expense | 105,639 | | Regulatory expense | 105,526 | | Depreciation expense | 55,092 | | Technology infrastructure expense | 23,693 | | Other operating expense | 8,894 | | Sales and marketing expense | 2,685 | | Total Expenses | 14,850,886 | | Net Income | 11,860,509 | The accompanying notes are an integral part of these financial statements. {9}------------------------------------------------ # Dash Prime LLC (A Delaware Limited Liability Company) STATEMENT OF CHANGES IN MEMBER S EQUITY For the Year Ended December 31, 2025 | Member's equity at January 1, 2025 | \$
5,210,325 | | |-----------------------------------------|-----------------|--| | Capital distributions | (11,850,000) | | | Net income | 11,860,509 | | | Member
s equity at December 31, 2025 | \$
5,220,834 | | The accompanying notes are an integral part of these financial statements. {10}------------------------------------------------ | Balance at January 1, 2025 | \$
- | | |------------------------------|---------|--| | Repayments | - | | | Additions | - | | | Balance at December 31, 2025 | \$
- | | The accompanying notes are an integral part of these financial statements. {11}------------------------------------------------ #### Dash Prime LLC (A Delaware Limited Liability Company) STATEMENT OF CASH FLOWS For the Year Ended December 31, 2025 | Cash flows from operating activities: | | |-----------------------------------------------------------------------------------|------------------| | Net income | \$
11,860,509 | | Adjustments to reconcile net income to net cash provided by operating activities: | | | Depreciation | 55,092 | | Changes in operating assets and liabilities: | | | Increase in clearing deposits | (1,025,353) | | Decrease in receivables from broker-dealers, net | 644,703 | | Decrease in operating lease right-of-use asset | 419,917 | | Increase in other assets | (18,777) | | Decrease in accounts payable and accrued expenses | (321,085) | | Decrease in operating lease right-of-use liability | (511,148) | | Net cash increase from operating activities | 11,103,858 | | Cash flows from investing activities: | | | Net cash change from investing activities | - | | Cash flows from financing activities: | | | Capital distributions | (11,850,000) | | Net cash decrease from financing activities | (11,850,000) | | Net decrease in cash and cash equivalents | (746,142) | | Cash, cash equivalents and certificate of deposit at beginning of the year | 1,787,032 | | Cash, cash equivalents and certificate of deposit at end of the year | \$
1,040,890 | | Cash, cash equivalents and restricted cash at end of the year: | | | Cash and cash equivalents
Certificate of deposit | 790,890 | | | 250,000 | {12}------------------------------------------------ #### NOTE 1 Organization Dash Prime LLC (the Company) was organized under the Uniform Limited Liability Company Act of Delaware on May 16, 1996. The Company is registered as a limited liability company doing business in the States of Illinois and Florida. The Company is an introducing and executing broker for its customers. The Company is a registered broker-dealer and a member of the Financial Industry Regulatory Authority (FINRA) and National Futures Association (NFA). The Company is a wholly owned subsidiary of DFT Intermediate LLC, DFT Acquisition LLC, DFT Intermediate Holdings LLC, DFT Acquisition Holdings LLC and Dash Holdco Inc. The Company is exempt from certain filing requirements under Rule 15c3-1(a)(6) of the Securities and Exchange Commission since the Company does not carry customer accounts, effects transactions only with other broker-dealers, does not perform transactions in unlisted options and clears and carries its trading accounts fully disclosed with clearing members. #### NOTE 2 Significant Accounting Policies The preparation of financial statements in conformity with United States Generally Accepted Accounting Principles (US GAAP) 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 statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. a) Commissions Commissions earned and the related clearing, execution, clearing organization and exchange expenses are recorded on a trade-date basis. The Company earns commission when its customers buy or sell a security executed by a member broker-dealer and cleared at its clearing firm providers who carry a -date because that is the point when the financial instrument, purchase/sell and counterparty are identified, the price is agreed upon and the risks and rewards of ownership have been determined. ASC 606 establishes guidelines for the Company to follow related to recognition of fees associated with contracts between the Company and its customers. The Company records its revenues in accordance with these guidelines as the Company only recognizes income for its customers on trade-date when a transaction is executed. The Company has no minimum commission requirement or prepaid fee arrangements with its . #### b) Execution credits, net firms. Customers direct their orders to execution destinations. In certain circumstances, the Company activity. Dash Financial Technologies LLC (DFT) is a broker-dealer affiliate of the Company under common ownership who is also one of DFT charges a fee to the Company as an offset to the payment for order flow and exchange liquidity credits received by the Company. Included as reductions to execution credits, net, are \$3,052,465 of execution fees charged to the Company and retained by DFT and \$6,572,629 of execution credits paid to the Company by all of its exchange member execution firm counterparties . The Company may pass back all or a portion of execution credits/debits it receives/pays from/to its executing brokers at its discretion. c) Interest overrides The Company earns interest overrides revenues are earned when the rate that the Company charges its customers is greater than the rate its clearing firms charge for debit balances and the rate the Company pays its customers for short stock and credit balances is less than the rate the clearing firm pays the Company. {13}------------------------------------------------ #### d) Clearing expense The Company introduces its clients to clearing firms on a fully disclosed basis. Clearing firms charge . Included in clearing fees are equity, option and futures clearing charges as well as fees charged to the clearing firm by the Option and Equity Clearing Corporations. #### e) Cash and cash equivalents All unrestricted highly liquid investments with initial or remaining maturities of less than 90 days at the time of purchase are considered cash equivalents. As of December 31, 2025, cash and cash equivalents include demand deposits in a checking account at one bank, which at times may exceed the federally insured limit. #### f) Restricted cash The Company has a certificate of deposit (CD) that matures September 30, 2026. The balance as of December 31, 2025, was \$250,000. This CD is used as collateral to secure a letter of credit that g) Income taxes The Company is a single member limited liability company and is treated as a disregarded entity for federal, state and local tax purposes. Accordingly, the Company does not file tax returns. All tax effects not liable for any material limited liability company taxes. Therefore, no provision or liability for federal, state and local income tax is included in these financial statements. Accounting standards require the evaluation of tax positions taken or expected to be taken in the course of preparing D tax returns -likelythan-not -likely-than- threshold would be recorded as a tax benefit or expense and receivable or liability in the current year. As of December 31, 2025, management has determined that there are no material uncertain tax positions. h) Fixed assets Fixed assets are related to technology hardware, are amortized over a five-year useful life and are reported at cost, net of accumulated depreciation. Fixed assets are depreciated on a straight-line basis over the estimated useful life of the asset. fixed asset purchases below \$5,000, and repairs and maintenance are expensed as incurred. #### i) Leases The Company recognizes and measures its leases in accordance with ASC 842. The Company is the lessee in two non-cancellable operating leases for office space. The Company determines if an arrangement is a lease at inception of a contract and when the terms of an existing contract are changed. of the lease. The lease liability is initially and subsequently recognized based on the present value of its future lease payments, using an appropriate discount rate. The discount rate is the implicit rate in the lease if it is readily determinable. Otherwise, the Company uses its incremental borrowing rate. The implicit rate of lease is not readily determinable and accordingly, the Company uses its incremental borrowing rate based on the information available at the commencement date for the {14}------------------------------------------------ of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms and in a similar economic environment. The ROU asset is subsequently measured throughout the lease term at the amount of the remeasured lease liability (i.e., present value of the remaining lease payments), plus unamortized initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received, and any impairment recognized. Lease expense for lease payments is recognized on a straightline basis over the lease term. The Company has elected, for all practical expedients, to not recognize ROU assets and lease liabilities for leases that have a lease term of 12 months or less at lease commencement or have immaterial monthly lease payment obligations (less than \$5,000 per month) and do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise. #### j) Accounts receivable Accounts receivables are stated at their net realizable value. Accounts receivables are presented on the Statement of Financial Condition net of the allowance for expected credit losses. An allowance for essment of the collectability of receivables from brokers and dealers and accounts receivables. The Company considers factors such as historical experience, credit quality, age of balances, and current economic conditions that may affect collectability in determining the allowance for expected credit losses. As of December 31, 2025, the Company has determined that all accounts receivable are valued at their net realizable value, and therefore, no allowance has been established for any expected credit losses. The Company clears its securities transactions on a fully disclosed basis through its clearing broker. Under the terms of the clearing agreement, the Company indemnifies the clearing broker for losses incurred on clearing transactions and carrying accounts for customers. The clearing agreement requires the Company to maintain a cash deposit and authorizes the clearing firm to draw from that deposit and withhold other amounts due to the Company to offset losses that may be incurred associated with clearing specified levels of regulatory capital, initial and maintenance margin for customer accounts and reserves to protect balances held by customers and broker-dealers. The Company receives payment from the clearing broker monthly for commissions and other income net of expenses owed to the clearing firm. During the year ended December 31, 2025, the Company incurred bad debt expense of \$1,267,975 resulting from a customer account that suffered losses and could not meet its margin requirements and as such the Company was forced to liquidate the account. As of December 31, 2025, the Company has evaluated its customer accounts, noting there are no other customers that are in a debit position that would require the company to liquidate such account and record additional loss/expense or any allowances or expected credit losses. The Company does not expect to experience any significant losses related to its clearing arrangement and has not recorded a credit loss allowance. #### NOTE 3 Net Capital Requirements The Company is subject to Securities and Exchange Commission Uniform Net Capital Rule (Rule 15c3-1) and CFTC Regulation 1.17 (Regulation 1.17). Under these rules, the Company is required to maintain minimum net capital equal to or in excess of \$250,000. The Company utilizes the alternative method to calculate net capital. On December 31, 2025, the Company had net capital of \$4,363,879 which was \$4,113,879 in excess of its minimum requirement. #### NOTE 4 Receivable from Broker-Dealers Receivable from broker-dealers at December 31, 2025 consist of the following: | Clearing deposits | \$4,124,393 | |--------------------------------------|-------------| | Receivables from broker-dealers, net | \$1,679,763 | {15}------------------------------------------------ Clearing deposits are cash deposits held -dealers, net are commissions and execution fees net of direct variable expenses held and payment for order flow and exchange liquidity credits and fees owed to the Company from its execution providers. The receivable from broker-dealers, net was collected by the Company in January 2026. The Company clears all transactions through Apex Clearing Corp. and Marex Capital Markets, Inc. in accordance with the respective clearing agreements. dealers are with Apex Clearing Corp. Clearing deposits held at Apex Clearing Corp. were \$4,099,393 representing 99 -dealers, net from Apex Clearing Corp. were \$1,277,320 representing 76% of the balance. #### NOTE 5 Other Assets Other assets on December 31, 2025 were \$251,983. Other assets include receivables secured by customer cash balances due from customers for execution, exchange and liquidity fees and trading platforms equaling \$237,598 and a security deposit equaling \$14,385. #### NOTE 6 Accounts Payable and Accrued Expenses Accounts payable and accrued expenses on December 31, 2025 were \$1,745,001. Accounts payable and accrued expenses consist of the following: 1) Bonus accrual - \$1,062,000; 2) Payable to customers for liquidity rebates and payment for order flow \$346,031; 3) Operating liabilities - \$202,337; 4) Variable compensation owed to registered representatives - \$48,415; 5) Estimated professional and regulatory fee accrual \$24,000; 6) Payable to affiliated entity - \$62,218. #### NOTE 7 Concentrations of Credit Risk The Company is engaged in brokerage activities where counterparties are broker-dealers. In the event counterparties do not fulfill their obligations, the Company may be exposed to risk. The risk of default depends on the creditworthiness of execution counterparties, clearing organizations and exchanges where transactions are performed. The Company's policy is to review, as necessary, the credit risk of all trading positions and the financial condition of its execution counterparties, clearing firms, clearing organizations and exchanges. of various securities transactions. These activities may expose the Company to off-balance-sheet risk in the event a customer or counterparty is unable to fulfill its contracted obligations, and the Company has to The Company introduces customers to its clearing firm on a fully disclosed basis. The clearing firm clears may expose the Company to off-balance-sheet credit risk in the event a customer or counterparty is unable to fulfill its obligations to the clearing broker. As of December 31, 2025, there were no liabilities that the Company is subject to indemnify to its clearing broker for losses or potential losses sustained from customer transactions introduced to the clearing firm by the Company. #### NOTE 8 Guarantees ASC 460 requires the Company to disclose information about its obligations under certain guarantee arrangements. ASC 460 defines guarantees as contracts and indemnification agreements that contingently require a guarantor to make payments to the guaranteed party based on changes in an underlying security, commodity or index price related to an asset, liability or equity security of a guaranteed party. ASC 460 also defines guarantees as contracts that contingently require the guarantor to make payments to the guaranteed {16}------------------------------------------------ indebtedness of others. The Company has no obligations that would be required to be disclosed as defined by ASC 460. #### NOTE 9 Leases The Company has two operating leases. The lease at 200 South Wacker in Chicago, IL is through September 2027 and the lease at 319 Clematis in West Palm Beach, FL is through October 31, 2029. The leases do not include early termination options in Illinois has a required security deposit which is in the form of a letter of credit issued by Lakeside bank in the amount of \$250,000. The letter of credit is secured by an interest-bearing certificate of deposit which is Statement of Financial Condition at face value plus accrued interest. The certificate of deposit is currently categorized as a non-allowable asset for the calculation. also carried as a non- \$14,385. Leases with an initial term of twelve months or less or where the monthly rent obligations are deemed not to be material (less than \$5,000) are not recorded on the Statement of Financial Condition, and the Company does not separate lease and non-lease components of contracts. There are no material guarantees associated s lease agreements. Payments under the lease agreements include fixed payments plus variable payments. The leases . These variable payments are not included in lease payments used to determine the lease liability and are recognized as variable costs when incurred. s do not provide an implicit borrowing rate. Therefore, the Company used its incremental borrowing rate based on the information available at the commencement date of the lease. The operating lease right-of-use asset and operating lease right-of use liability as of December 31, 2025 was as follows: Operating lease right of use asset \$1,065,889 Operating lease right of use liability - \$1,299,356 #### Lease Commitments The Company is obligated under its non-cancelable operating leases to pay the following minimum undiscounted lease payments as of December 31, 2025: | | Minimum Lease | Imputed Interest | | | |------------|---------------|------------------|--------------------|--| | | Payments | | Net Lease Payments | | | Year: | | | | | | 2026 | \$644,144 | \$(75,870) | \$568,274 | | | 2027 | 528,265 | (34,735) | 493,530 | | | 2028 | 138,501 | (15,569) | 122,932 | | | 2029 | 118,588 | (3,968) | 114,620 | | | Thereafter | - | - | - | | | Total | \$1,429,498 | \$(130,142) | \$1,299,356 | | | | | | | | The operating leases are subject to period escalation charges. Rent expenses (which includes rent and the buildings allocation of tax and operating expense) for 2025 are included in the office expense line on the Statement of Income. For the year ended December 31, 2025, the Company noted the following supplemental lease information. Cash paid for amounts included in the measurement of lease liabilities include cash flows from leases of {17}------------------------------------------------ \$577,998. The Company used a weighted average discount rate of 6.73% and used lease terms of 21 months (200) and 46 months (319) in determining the unamortized remaining lease asset and liability. #### NOTE 10 Related Party Transactions The Company is affiliated with Dash Financial Technologies LLC (DFT) by having a common owner. DFT is a registered broker-dealer. The Company and DFT have executed an execution and an expense sharing agreement for the Company to utilize services from DFT for equity and option execution, market data, server hosting and administration of payroll benefits. On December 31, 2025, the Company had a receivable from DFT for December execution services included in receivable from broker-dealers, net of \$394,845 and a liability included in accounts payable and accrued expenses to DFT for reimbursement of services received by the Company of \$62,218. A summary of the transactions with DFT for the year ended December 31, 2025 follows with the Statement of Income categories: - Execution Exchange Fees, Liquidity Fees, Payment for Order Flow and Exchange Tier Benefits received from DFT - \$10,608,358 - Execution credits, net - Employee 401k Contributions paid to DFT \$254,366 Employee compensation and benefit expense - Employee health insurance administered by DFT \$224,300 Employee compensation and benefit expense. - Market Data Expense for Third Party Trading Platforms paid to DFT \$149,518 Third party trading, operating and risk system expense - Company 401k and HSA Match Expenses paid to DFT \$40,437 Employee compensation and benefit expense - Employee Voluntary Withholdings paid to DFT \$2,859 Employee compensation and benefit expense. - DFT High Touch Execution \$345 this has no impact on the income statement balances are #### NOTE 11 Employee Benefit Plans All employees of the Company that meet eligibility requirements have the option of participating in the and health plans. Under the retirement savings plan, participants may voluntarily contribute a portion of their wages on a tax-deferred basis. The Company may make discretionary matching or profit-sharing contributions to the plan. For the year ended December 31, 2025 retirement savings expense recorded in employee expense on the Statement of Income was \$36,437. #### NOTE 12 LLC a portion of its distributable profits throughout the year in accordance with regulatory guidelines and as soon as practicable at the end of each month. #### NOTE 13 Segment Information The Company is engaged in a single line of business as an introducing broker-dealer and, as such, the mainly driven by commissions earned from trades it executes on behalf of clients as well as option routing fees received from exchanges for providing order flow. income to evaluate the results of the business and manage the Company. Additionally, the CODM uses excess net capital (see Supplemental Information), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to reinvest profits or make distributions. {18}------------------------------------------------ because the CODM manages the business activities using information as presented in the Statement of Income. The accounting policies used to measure the profit and loss of the segment are the same as those described in the summary of significant accounting policies. The Company derived 8% of its total commission revenues from a single customer and 58.1% of its total commission revenues from its top 20 customers in 2025. #### NOTE 14 Subsequent Events The Company has evaluated subsequent events through the date that its financial statements were issued. On January 20, 2026 500,000 from the Company. The withdrawal was completed to remove a portion of profits not previously withdrawn. FINRA was notified of the capital distribution. {19}------------------------------------------------ #### Dash Prime LLC (A Delaware Limited Liability Company) COMPUTATION OF NET CAPITAL PURSUANT TO UNIFORM NET CAPITAL RULE 15C3-1 (Schedule I) December 31, 2025 | Equity | \$ | 5,220,834 | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----|---------------------------------------------------------------| | Less: | | | | Non-Allowable Assets:
Restricted certificate of deposit at Lakeside bank
Receivable from non-affiliated executing broker dealer
Receivable from affiliate executing broker net of intercompany
Fixed assets, net of accumulated depreciation
Security deposit
Total Non-Allowable Assets | \$ | 250,000
157,671
332,626
102,273
14,385
856,955 | | Net Capital | \$ | 4,363,879 | | | \$ | | | Required Net Capital | | 250,000 | | Excess Net Capital | | 4,113,879 | | Net capital in excess of the greater of 5% of combined aggregate debit items or
120% of minimum net capital | \$ | 4,063,879 | There are December 31, 2025, unaudited Part IIA FOCUS report, filed on January 16, 2026. {20}------------------------------------------------ ### Dash Prime LLC (A Delaware Limited Liability Company) COMPUTATION FOR DETERMINATION OF RESERVE REQUIREMENTS AND INFORMATION RELATING TO POSSESSION AND CONTROL REQUIREMENTS PURSUANT TO RULE 15c3-3 (Schedule II) December 31, 2025 Dash Prime LLC claims an exemption pursuant to Rule 15c3-3 subparagraph 15c3(k)(2)(ii) and therefore, no Computation for Determination of Reserve Requirements or Information for Possession or Control under that rule have been provided. The Company does not transact business in securities with, or for, other than members of a national securities exchange and does not carry margin amounts, credit balances or securities for any person defined e 17a-5(c)(4). Accordingly, there are no amounts reportable under these sections. {21}------------------------------------------------ ![](_page_21_Picture_0.jpeg) 757 Third Ave., 9th Floor New York, NY 10017 D +1 212 599 0100 F +1 212 370 4520 #### GRANT THORNTON LLP REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM #### Member Dash Prime LLC We have reviewed managements statements, included in the accompanying Exemption report, in which (1) Dash Prime LLC (a Delaware limited liability company) (the Company) identified the following provisions of 17 C.F.R. § 15c3-3(k) under which the Company claimed an exemption from 17 C.F.R. § 240.15c3-3: (k)(2)(ii), (the exemption provisions) and (2) the Company stated that the Company met the identified exemption provisions throughout the most recent fiscal year without exception. The Companys 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 the Companys 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 managements 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 managements 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. New York, New York February 20, 2026 {22}------------------------------------------------ #### Dash Prime LLC (A Delaware Limited Liability Company) EXEMPTION REPORT December 31, 2025 February 20, 2026 Securities & Exchange Commission 100 F Street, NE Washington, DC 20549 Exemption Report Dash Prime 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. 240.17a-5(d)(1) and (4). To the best of its knowledge and belief, the Company states the following: - (1) For the year ended December 31, 2025, the Company claimed an exemption from 17 C.F.R. 240.15.15c3-3 as outlined under (k)(2)(ii) of the respective rule. - (2) The Company met the identified exemption provisions in 17C.F.R. 240.15c3-3(k)(ii) throughout the year ended December 31, 2025, with no exception. I, Collin Carrico, swear (or affirm) that, to the best of my knowledge and belief, this Exemption Report is true and correct. By: Title: President Date: February 20, 2026 {23}------------------------------------------------ ![](_page_23_Picture_0.jpeg) 757 Third Ave., 9th Floor New York, NY 10017 D +1 212 599 0100 F +1 212 370 4520 #### GRANT THORNTON LLP REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM #### Member Dash Prime 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, on the accompanying General Assessment Reconciliation (Form SIPC-7) for the year ended December 31, 2025. Management of Dash Prime LLC (the Company) is responsible for its Form SIPC-7 and for its compliance with the applicable instructions on Form SIPC-7. Management of the Company has agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose of assisting you and SIPC in evaluating the Companys compliance with the applicable instructions on Form SIPC-7 for the year ended December 31, 2025. Additionally, SIPC has agreed to and acknowledged that the procedures performed are appropriate for their intended purpose. This report may not be suitable for any other purpose. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. 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 the associated findings are as follows: - 1. Compared the listed assessment payments in Form SIPC-7 with respective cash disbursement records entries (check copies and bank statement records), noting no differences. - 2. Compared the Total Revenue amounts reported on the Annual Audited Report Form X-17A-5 Part III for the year ended December 31, 2025 with the Total Revenue amounts reported in Form SIPC-7 for the year ended December 31, 2025, noting a difference of \$281,211. - 3. Compared any adjustments reported in Form SIPC-7 with supporting schedules and working papers (SIPC-7 schedule including total revenues, execution, clearing and commission fees) , noting a difference of \$281,211. - 4. Recalculated the arithmetical accuracy of the calculations reflected in Form SIPC-7 and in the related schedules and working papers (SIPC-7 schedule including total revenues, execution, clearing and commission fees) supporting the adjustments noting no differences. GT.COM Grant Thornton LLP is a U.S. member firm of Grant Thornton International Ltd (GTIL). GTIL and each of its member firms are separate legal entities and are not a worldwide partnership. {24}------------------------------------------------ ![](_page_24_Picture_0.jpeg) We were engaged by the Company to perform this agreed-upon procedures engagement and conducted our engagement in accordance with the standards of the Public Company Accounting Oversight Board (United States) and in accordance with attestation standards established by the American Institute of Certified Public Accountants. We were not engaged to, and did not, conduct an examination or a review engagement, the objective of which would be the expression of an opinion or conclusion, respectively, on the Companys Form SIPC-7 and its compliance with the applicable instructions on Form SIPC-7 for the year ended December 31, 2025. 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. We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement. This report is intended solely for the information and use of the Company and SIPC and is not intended to be, and should not be, used by anyone other than these specified parties. New York, New York February 20, 2026 {25}------------------------------------------------ # Dash Prime LLC (A Delaware Limited Liability Company) SIPC ASSESSMENT WORKSHEET For the year ended December 31, 2025 SIPC 7 | General Assessment | \$
29,164 | | |---------------------------------------------------------------------------------|--------------------------|--| | Less payments made July 2025 SIPC 6
Assessment Balance Due (paid 1.17.2
) | \$
(15,366)
13,798 | | | Determination of SIPC net operating Revenue | | | | Total | | | | Revenue: | \$
26,430,184 | | | Additions: | | | | Net loss from transactions in securities trading accounts | 140,735 | | | Deductions: | | | | Revenues from commodity transactions | (39,624) | | | Commissions paid to other SIPC members | (6,724,209) | | | 40% of margin interest earned on customers securities accounts | (364,289) | | | Total Deductions | (7,128,122) | | | SIPC Net Operating Revenues | 19,442,797 | | | SIPC Assessment at .15% | \$
29,164 | | Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.