# TRIDENT PARTNERS LTD. X-17A-5 (2023-02-24) — Broker-dealer annual report - Company: TRIDENT PARTNERS LTD. - Form: X-17A-5 - Filed: 2023-02-24 - Period: 2022-12-31 - Accession: 0001015706-23-000001 - CIK: 1015706 - File #: 8-49342 - Type: Broker-dealer - Material weakness: No - Auditor: Rubio CPA - Auditor location: Atlanta, GA - Contact: Michelle Cerini - Phone: 5166819100 - Email: mcerini@tridentpartnersltd.com - Website: tridentpartnersltd.com - Signed by: Michelle Cerini (FINOP) Original filing: https://www.sec.gov/Archives/edgar/data/1015706/000101570623000001/AnnualAudit2022.pdf --- {0}------------------------------------------------ #### UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235-0123 Expires: Oct. 31, 2023 Estimated average burden hours per response: 12 SEC FILE NUMBER 8-49342 # ANNUAL REPORTS FORM X-17A-5 PART III 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 01/01/22 | | AND ENDING 12/31/22 | | | | |-----------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|---------------------|-----------------|--------------------------------------------|--| | MM/DD/YY | | | | MM/DD/YY | | | | A. REGISTRANT IDENTIFICATION | | | | | | NAME OF FIRM: Trident Partners LTD. | | | | | | | TYPE OF REGISTRANT (check all applicable boxes):
Broker-dealer
Check here if respondent is also an OTC derivatives dealer | | | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | | | 181 Crossways Park Drive | | | | | | | | (No. and Street) | | | | | | Woodbury | NY | | | 11797 | | | (City) | (State) | | | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | Michelle Cerini | (516) 681 - 9100 | | | mcerini@tridentpartnersltd.com | | | (Name) | (Area Code - Telephone Number) | | (Email Address) | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | | | | | RUBIO CPA. PC | | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | | 3500 Lenox Rd., Suite 1500 Atlanta | | | GA | 30326 | | | (Address) | (City) | | (State) | (Zip Code) | | | 05/05/09 | | 3514 | | | | | (Date of Registration with PCAOB)(if applicable) | | | | (PCAOB Registration Number, if applicable) | | | * Claims for exemption from the requirement that the annual reports of an independent public | FOR OFFICIAL USE ONLY | | | | | accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(1)(ii), if applicable. Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. {1}------------------------------------------------ #### OATH OR AFFIRMATION I. Michelle Cerini , swear (or affirm) that, to the best of my knowledge and belief, the | | | | financial report pertaining to the firm of Trident Partners LTD. | as of | |-------------|--|--|------------------------------------------------------------------|---------| | December 31 | | | | , 2 022 | | | | | | | 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. ![](_page_1_Picture_4.jpeg) | LILLIAN MORALES | | |----------------------------------|--| | Notary Public - State of Florida | | | Commission # HH 318560 | | | My Comm. Expires Oct 3, 2026 | | | Signature: | |-------------------| | Title:
allette | Notary Public #### This filing\*\* contains (check all applicable boxes): - (a) Statement of financial condition. - [ (b) Notes to consolidated statement of financial condition. - (c) Statement of income (loss) or, if there is other comprehensive 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. - [] Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - □ (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - (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 capible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-2, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist. - [] (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. - [ (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - @ (s) Exemption report in accordance with 17 CFR 240.18a-7, as applicable. - [ {t) Independent public accountant's report based on an examination of the statement of financial condition. - [u] Independent public accountant's report based on an examination of the financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - | (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - @ (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - | {x} Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.17a-12, as applicable. - □ {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). - O (z) Other: - \*\* To request confidential treatment of this filing, see 17 CFR 240.170-5(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable. {2}------------------------------------------------ FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2022 WITH REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM {3}------------------------------------------------ RUBIO CPA, PC CERTIFIED PUBLIC ACCOUNTANTS 3500 Lenox Road NE Suite 1500 Atlanta, GA 30326 Office: 770690-8995 Fax: 770838-7123 #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Stockholder of Trident Partners, LTD. #### Opinion on the Financial Statements We have audited the accompanying statement of financial condition of Trident Partners, LTD. (the "Company") as of December 31, 2022, the related statements of operations, changes in stockholder's equity, and cash flows for then ended and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2022, 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 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 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 Company's internal control over financial reporting. Accordingly, we express no such opinion. Our audit included performing procedures to assess the risks of material misstatement to the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion. #### Supplemental Information The information contained in Schedules I, II and III has been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. The supplemental information is the Company's management. Our audit procedures included determining whether the information in Schedules I, II and III reconciles to the financial statements or the underlying and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the accompanying schedules. In forming our opinion on the accompanying schedules, we evaluated whether the supplemental information, including its form and content, is presented {4}------------------------------------------------ in conformity with 17 C.F.R. §240.17a-5. In our opinion, the aforementioned supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole. We have served as the Company's auditor since 2018. February 23, 2023 Atlanta, Georgia Rubis CPA, PC Rubio CPA, PC {5}------------------------------------------------ #### STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2022 #### **ASSETS** | Cash
Deposit
with
clearing
broker
Due
from
clearing
broker
Accounts
receivable
Prepaid
expenses
and
deposits
Right
of
use
asset | \$
229,211
75,000
272,250
8,593
39,437
84,280 | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------| | Total
assets | \$
708,771 | | LIABILITIES
AND
STOCKHOLDER'S
EQUITY | | | Liabilities | | | Accounts
payable,
accrued
expenses,
and
other
Commissions
payable
Refundable
deposit
Due
to
related
party
Lease
liability | \$
55,935
151,320
25,000
9,237
84,280 | | Total
liabilities | 325,772 | | Stockholder's
equity | | | Capital
stock,
no
par,
assigned
value
of
\$1,500;
200
shares
authorized;
10
shares
issued
and
outstanding
Paid-in
capital
Retained
earnings
(deficit) | 15,000
1,388,148
(1,020,149) | | Total
stockholder's
equity | 382,999 | | Total
liabilities
and
stockholder's
equity | \$
708,771 | See notes to financial statements {6}------------------------------------------------ ### STATEMENT OF OPERATIONS YEAR ENDED DECEMBER 31, 2022 #### **REVENUES** | Commissions
Underwriting | \$
3,146,349
415,244 | |--------------------------------------------------------------|----------------------------| | Mutual
fund
fees | 175,386 | | Interest | 252,273 | | Private
placement
fees | 104,409 | | TOTAL
REVENUES | 4,093,661 | | | | | EXPENSES | | | Commissions,
compensation
and
benefits | 3,334,810 | | Floor
brokerage,
exchange,
and
clearance
fees | 217,818 | | Technology
and
communications | 203,209 | | Occupancy | 147,813 | | Other | 346,957 | | TOTAL
EXPENSES | 4,250,607 | | NET
LOSS
BEFORE
INCOME
TAXES | (156,946) | | INCOME
TAXES | - | | NET
LOSS | \$
(156,946) | See notes to financial statements {7}------------------------------------------------ # STATEMENT OF CASH FLOWS YEAR ENDED DECEMBER 31, 2022 #### **Cash flows from operating activites** | Net
Loss | \$
(156,946) | |--------------------------------------------------------------------|-----------------| | Adjustments
to
reconcile
net
loss
to
net
cash | | | used
by
operating
activities: | | | Changes
in
assets
and
liabilities: | | | Due
from
clearing
broker | 202,588 | | Accounts
receivable | 2,567 | | Prepaid
expenses
and
deposits | (2,325) | | Right
of
use
asset | 101,884 | | Accounts
payable,
accrued
expenses,
and
other | (5,862) | | Commissions
payable | (134,988) | | Due
to
related
party | (3,436) | | Lease
liability | (101,884) | | Total
Adjustments | 58,544 | | Net
cash
used
by
operating
activities | (98,402) | | NET
CHANGE
IN
CASH | (98,402) | | CASH -
BEGINNING | 327,613 | | CASH -
END | \$
229,211 | {8}------------------------------------------------ #### STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY YEAR ENDED DECEMBER 31, 2022 | | COMMON
PAID
-
IN
STOCK
CAPITAL | | | RETAINED
EARNINGS
(DEFICIT) | | TOTAL | | | |---------------------------|-----------------------------------------------|--------|----|-----------------------------------|----|-------------|----|-----------| | Balance
-
beginning | \$ | 15,000 | \$ | 1,388,148 | \$ | (863,203) | \$ | 539,945 | | Net
Loss | | - | | - | | (156,946) | | (156,946) | | Balance
-
end | \$ | 15,000 | \$ | 1,388,148 | \$ | (1,020,149) | \$ | 382,999 | See notes to financial statements {9}------------------------------------------------ ### NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 #### 1. ORGANIZATION AND NATURE OF BUSINESS Trident Partners, Ltd. (the "Company") is a securities broker-dealer registered with the Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA"). The Company clears its securities transactions on a fully disclosed basis with another broker-dealer. The Company's main office is located in Woodbury, New York and its customers are located throughout the United States. #### 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES #### Basis of Presentation The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. #### Revenue Recognition Revenue from contracts with customers includes commission and concession income and fees from private placements and underwritings. The recognition and measurement of revenue is based on the assessment of individual contract terms. Significant judgement is required to determine whether performance obligations are satisfied at a point in time or over time; how to allocate transaction prices where multiple performance obligations are identified; when to recognize revenue based on the appropriate measure of the Company's progress under the contract; whether revenue should be presented gross or net of certain costs; and whether constraints on variable consideration should be applied due to uncertain future events. 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 and other transactional based fees. Commissions and fees charged to customers as well as 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 of the securities have been transferred to/from the customer. The Company underwrites securities for entities that want to raise funds through a sale of securities. Revenues are earned from fees arising from securities offerings {10}------------------------------------------------ #### NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 in which the Company acts as a selling group member. Revenue is recognized on the trade date (the date on which the Company purchases the securities from the issuer) for the portion the Company is contracted to buy. The Company believes that the trade date is the appropriate point in time to recognize revenue for securities underwriting transactions as there are no significant actions which the Company needs to take subsequent to this date and the issuer obtains the control and benefit of the capital markets offering at that point. Mutual funds or pooled investment vehicles (collectively, "funds") have entered into agreements with the Company to distribute/sell its shares to investors. The Company may receive distribution fees paid by the funds upfront, over time, upon the investor's exit from the fund (that is, a contingent deferred sales charge), or as a combination thereof. The Company believes 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 or monthly. The Company recognizes fees from private placements upon the sale of each interest in an offering as this satisfies the only performance obligation identified by the Company. All of the private placement revenues recognized during 2022 relate to performance obligations satisfied by the Company in a prior year where collectability was not reasonably assured. #### Cash The Company maintains its demand deposits in a high credit quality financial institution. Balances at times may exceed federally insured limits. #### Accounts Receivable Accounts receivable are non-interest bearing uncollateralized obligations receivable in accordance with the terms agreed upon with each client. The company regularly reviews its accounts receivable for any uncollectible amounts. The review for uncollectible amounts is based on an analysis of the Company's collection experience, customer credit worthiness, and current economic trends. Based on management's review of accounts receivable, no allowance for credit losses is considered necessary. {11}------------------------------------------------ ### NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 #### Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management of the Company to use estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. #### Income Taxes Deferred income tax assets and liabilities arise from operating loss carry forwards, other carry forwards and temporary differences between the tax basis of an asset or liability and its reported amount in the financial statements. In addition to future tax benefits from carry forwards, deferred tax balances are determined by applying the enacted tax rate to future periods for differences between the financial statement amounts and the tax basis of assets and liabilities. In accordance with ASC 740, Income Taxes, the Company is required to disclose unrecognized tax benefits or liabilities resulting from uncertain tax positions. At December 31, 2022, the Company did not have any unrecognized tax benefits or liabilities. The Company operates in the United States and in state and local jurisdictions, and the previous three years remain subject to examination by tax authorities. There are presently no ongoing income tax examinations. #### 3. OFF BALANCE SHEET RISK In the normal course of business, the Company's customers execute securities transactions through the Company. These activities may expose the Company to off balance sheet risk in the event the customer or the other broker is unable to fulfill its contracted obligations and the Company has to purchase or sell the financial instrument underlying the contract at a loss. #### 4. CLEARING AGREEMENT The Company has an agreement with a clearing broker to execute and clear, on a fully disclosed basis, customer accounts of the Company. In accordance with this agreement, the Company is required to maintain a deposit in cash or securities. The deposit is refundable if, and when, the Company ceases doing business with the clearing broker. The receivable from the clearing broker arises from the clearing agreement. {12}------------------------------------------------ # NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 ### 5. INCOME TAXES The provision for income taxes is summarized as follows: | Current
income
tax
expense | \$
- | |---------------------------------------|---------| | Deferred
income
tax
benefits | - | | | | | | | Income tax expense \$ - Deferred income taxes are recognized for temporary differences between the basis of assets and liabilities for financial and income tax purposes. Significant components of deferred tax assets are as follows: | Deferred
tax
assets
arising
from | | |----------------------------------------------|---------------| | net
operating
loss
carryforward | \$
156,000 | | Deferred
tax
valuation
allowance | (156,000) | | | | | Net
deferred
tax
asset | \$
- | As of December 31, 2022, the Company has a net operating loss carryforward for income tax purposes that may be used to reduce taxable income of future years of approximately \$568,000. The deferred tax asset arising from the net operating loss carryforward of approximately \$156,000 at December 31, 2022 has been fully reserved as there is less than a 50% chance of it being realized. #### 6. 401(k) RETIREMENT PLAN The Company sponsors a 401(k) retirement plan covering substantially all employees. Eligible participants may make contributions to the plan up to amounts specified in the plan. The Company does not make contributions to the plan. # 7. LEASES The Company leases office space and office equipment under non-cancelable operating leases with initial non-cancelable terms in excess of one year. The Company recognizes and measures its leases in accordance with FASB ASC 842, Leases. The Company recognizes a lease liability and a right of use (ROU) asset on its balance sheet by recognizing the lease liability of both leases based on the present value of its future lease payments. The Company uses an incremental borrowing rate based on what it would approximately have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar {13}------------------------------------------------ #### NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 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 (present value of the remaining lease payments). The Company recognizes lease costs on a straight line basis over the lease term. The Company has elected, for all underlying classes of assets, to not recognize ROU assets and lease liabilities for short-term leases that have a lease term of 12 months or less at lease commencement, and do not include an option to purchase the underlying asset the Company is reasonably certain to exercise. The Company recognizes lease costs associated with short-term leases on a straight-line basis over the lease term. Maturity of the lease liability under the noncancelable operating leases with initial noncancelable terms in excess of one year is as follows: | 2023 | \$ | 68,786 | | |---------------------------------|-----------|----------------|---------------| | 2024 | | 8,916 | | | 2025 | | 8,916 | | | | \$ | 86,618 | | | Total
undiscounted
lease | payments | | \$ 86,618 | | Less
imputed
interest | | | (2,338) | | Total
lease
liability | | | \$ 84,280 | | Weighted
average | remaining | lease
term: | | | Operating
leases | | | 1.29
years | | Weighted
average
discount | rate: | | | | Operating
leases | | | 6% | The Company's office space lease with initial noncancelable terms in excess of one year requires it to make variable payments for the Company's proportionate share of operating expenses (i.e., building's property taxes, insurance, and common area maintenance). These variable lease payments are not included in lease payments used to determine the lease liability and are thus recognized as variable costs when incurred. The total lease cost including variable costs associated with all leases for the year ended December 31, 2022 was \$147,813. {14}------------------------------------------------ #### NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 #### 8. CONTINGENCIES In the ordinary course of business, the Company is subject to litigation relating to its activities as a broker-dealer including civil actions and arbitration. From time to time, the Company is also involved in proceedings and investigations by regulatory organizations. At December 31, 2022, the Company has one arbitration in progress as defendant. The Company establishes accruals for legal actions when potential losses associated with the actions become probable and the costs can be reasonably estimated. For such accruals, the Company records the amount considered to be the best estimate within a range of potential losses that are both probable and estimable, however, if the Company cannot determine a best estimate, then the low end of the range of those potential losses is recorded. The actual costs of resolving legal actions may be substantially higher than the amounts accrued for those actions. Based on information currently available, the Company has accrued \$10,000 for the low-end range of the expected cost to settle the matter. #### 9. NET CAPITAL REQUIREMENTS The Company is subject to the Securities and Exchange Commission Uniform Net Capital Rule (Rule 15c-3-1), 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 (and that equity capital may not be withdrawn or cash dividends paid if the resulting net capital ratio would exceed 10 to 1). At December 31, 2022, the Company had net capital of \$340,984, which was \$240,984 in excess of its required net capital of \$100,000. The Company had a percentage of aggregate indebtedness to net capital of 71% as of December 31, 2022. #### 10.SUBSEQUENT EVENTS The Company has performed an evaluation of events that have occurred subsequent to December 31, 2022, and through the date of the independent registered public accounting firm's report. #### 11. RELATED PARTY TRANSACTIONS The Company is affiliated with a sister entity that is a Registered Investment Advisor. The company collects advisory fees generated by the sister Registered Investment Advisor through the Company's clearing agreement. A balance due to the sister entity of \$9,237 arose from advisory fees collected by the Company from its clearing broker that have not yet been remitted to the sister entity. {15}------------------------------------------------ ### NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 Financial position and results of operations could differ from the amounts in the accompanying financial statements if these transactions did not exist. # 12.NET LOSS The Company incurred a loss for 2022. The Company's stockholder has represented that it has the means and intention to provide capital contributions as needed to ensure the Company's survival through at least one year subsequent to the date of the report of the independent registered public accounting firm. Management expects the Company to continue as a going concern and the accompanying financial statements have been prepared on a going-concern basis without adjustments for realization in the event that the Company ceases to continue as a going concern. {16}------------------------------------------------ # TRIDENT PARTNERS, LTD. SCHEDULE I COMPUTATION OF NET CAPITAL UNDER RULE 15C-3-1 OF THE SECURITIES AND EXCHANGE COMMISSION DECEMBER 31, 2022 #### **NET CAPITAL** | Stockholder's
equity | \$
382,999 | |--------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------| | Deductions
and/or
charges
Accounts
receivable,
net
of
related
commissions
payable
Prepaid
expenses
and
deposits | (2,578)
(39,437) | | Net
capital
before
undue
concentration
and
haircuts
on
securities
positions | 340,984 | | Haircuts
and
undue
concentrations | 0 | | NET
CAPITAL | \$
340,984 | | AGGREGATE
INDEBTEDNESS | \$
241,492 | | MINIMUM
NET
CAPITAL
REQUIRED
(6
2.3%
OF
AGGREGATE
INDEBTEDNESS) | \$
16,099 | | MINIMUM
DOLLAR
NET
CAPITAL
REQUIREMENT | \$
100,000 | | EXCESS
OF
NET
CAPITAL
OVER
MINIMUM
REQUIREMENTS | \$
240,984 | | PERCENTAGE
OF
AGGREGATE
INDEBTEDNESS
TO
NET
CAPITAL | 71% | #### **Statement Pursuant to Paragraph (d)(4) of Rule 17a-5** There were no material differences with respect to the computation of net capital calculated above and the Company's computation included in Part IIA of Form X-17a-5, as ammended, as of December 31, 2022. {17}------------------------------------------------ #### NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022 #### SCHEDULE II #### COMPUTATION FOR DETERMINATION OF RESERVE REQUIREMENTS UNDER RULE 15C3-3 OF THE SECURITIES AND EXCHANGE COMMISSION AS OF DECEMBER 31, 2022 The Company is exempt from the provisions of Rule 15c3-3 under the Securities Exchange Act of 1934, pursuant to paragraph (k)(2)(ii) of the rule. #### SCHEDULE III # INFORMATION RELATING TO THE POSSESSION OR CONTROL REQUIREMENTS UNDER RULE 15C3-3 OF THE SECURITIES AND EXCHANGE COMMISSION AS OF DECEMBER 31, 2022 The Company is exempt from the provisions of Rule 15c3-3 under the Securities Exchange Act of 1934, pursuant to paragraph (k)(2)(ii) of the rule. {18}------------------------------------------------ RUBIO CPA, PC CERTIFIED PUBLIC ACCOUNTANTS 3500 Lenox Road NE Suite 1500 Atlanta, GA 30326 Office: 770690-8995 Fax: 770838-7123 #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Stockholder of Trident Partners, LTD. We have reviewed management's statements included in the accompanying Brokers Annual Exemption Report in which (1) Trident Partners, LTD. identified the following provisions of 17 C.F.R. § 15c3-3(k) under which Trident Partners, LTD. claimed an exemption from 17 C.F.R. § 240.15c3-3: (k)(2)(ii) (the "exemption provisions"); and, (2) Trident Partners, LTD. stated that Trident Partners, LTD. met the identified exemption provisions throughout the most recent fiscal year without exception. Trident Partners, LTD.'s management is responsible for compliance with the exemptions 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 Trident Partners, LTD.'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)(i) of Rule 15c3-3 under the Securities Exchange Act of 1934. February 23, 2023 Atlanta, GA Rubio CPA. PC {19}------------------------------------------------ ![](_page_19_Picture_0.jpeg) 181 Crossways Park Drive · Woodbury, New York 11797 516.681.9100 · 800.341.1990 · Fax 516.681.9891 #### Exemption Report To the best of our knowledge and belief, (1) Trident Partners, Ltd is exempt under the provisions of paragraph (k) (2) (ii) of Rule 15c3-3; (2) Trident Partners, Ltd met the identified exemption provisions in paragraph (k) (2) (ii) of Rule 15c3-3 throughout the most recent fiscal year without exception. Michelle Cerini - FINOP 2/6/2023 Date ![](_page_19_Picture_10.jpeg) Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.