# TRAILMARK INC. X-17A-5 (2022-04-21) — Broker-dealer annual report

- Company: TRAILMARK INC.
- Form: X-17A-5
- Filed: 2022-04-21
- Period: 2021-12-31
- Accession: 0001123374-22-000001
- CIK: 1123374
- File #: 8-52864
- Type: Broker-dealer
- Material weakness: No
- Auditor: Ohab and Company, PA
- Auditor location: Maitland, FL
- Contact: Bruce Williamson
- Phone: 4048694600
- Email: bwilliamson@trailmark.com
- Website: trailmark.com
- Signed by: Bruce Williamson (CCO, CFO)

Original filing: https://www.sec.gov/Archives/edgar/data/1123374/000112337422000001/Trailmark2021public.pdf

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# **TRAILMARK INC.**

#### FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION

For the Year Ended December 31, 2021

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| PUBLIC                                                                                                                |                                                            |                           |                                                                                                          |  |
|-----------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|---------------------------|----------------------------------------------------------------------------------------------------------|--|
|                                                                                                                       | UNITED STATES                                              |                           | OMB APPROVAL                                                                                             |  |
|                                                                                                                       | SECURITIES AND EXCHANGE COMMISSION                         |                           | OMB Number: ϯϮϯϱͲϬϭϮϯ<br>Expires: KĐƚ͘ϯϭ͕ϮϬϮϯ                                                            |  |
|                                                                                                                       | Washington, D.C. 20549                                     |                           | Estimated average burden                                                                                 |  |
|                                                                                                                       |                                                            |                           | <br>hours per response:                                                                                  |  |
|                                                                                                                       | ANNUAL REPORTS                                             |                           | SEC FILE NUMBER                                                                                          |  |
|                                                                                                                       | FORM X-17A-5                                               |                           | 8-52864                                                                                                  |  |
|                                                                                                                       | PART III                                                   |                           |                                                                                                          |  |
|                                                                                                                       |                                                            |                           |                                                                                                          |  |
| Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934             | FACING PAGE                                                |                           |                                                                                                          |  |
|                                                                                                                       | 01/01/2021                                                 |                           | 12/31/2021                                                                                               |  |
| FILING FOR THE PERIOD BEGINNING _____________________ AND ENDING ______________________                               |                                                            |                           |                                                                                                          |  |
|                                                                                                                       | MM/DD/YY                                                   |                           | MM/DD/YY                                                                                                 |  |
|                                                                                                                       | A. REGISTRANT IDENTIFICATION                               |                           |                                                                                                          |  |
| Trailmark Inc.<br>NAME OF FIRM: _______________________________________________________________________               |                                                            |                           |                                                                                                          |  |
|                                                                                                                       |                                                            |                           |                                                                                                          |  |
| TYPE OF REGISTRANT (check all applicable boxes):                                                                      |                                                            |                           |                                                                                                          |  |
| ܆<br>܆<br>Broker-dealer<br>■                                                                                          | ܆<br>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.)                                                   |                                                            |                           |                                                                                                          |  |
|                                                                                                                       |                                                            |                           |                                                                                                          |  |
| 3379 Peachtree RD NE STE 272<br>_____________________________________________________________________________________ |                                                            |                           |                                                                                                          |  |
|                                                                                                                       | (No. and Street)                                           |                           |                                                                                                          |  |
| Atlanta<br>_____________________________________________________________________________________                      | GA                                                         |                           | 30326                                                                                                    |  |
| (City)                                                                                                                | (State)                                                    |                           | (Zip Code)                                                                                               |  |
| PERSON TO CONTACT WITH REGARD TO THIS FILING                                                                          |                                                            |                           |                                                                                                          |  |
| Bruce Williamson                                                                                                      | 404-869-4600                                               | bwilliamson@trailmark.com |                                                                                                          |  |
| (Name)                                                                                                                | (Area Code – Telephone Number)                             |                           | _____________________________________________________________________________________<br>(Email Address) |  |
|                                                                                                                       |                                                            |                           |                                                                                                          |  |
|                                                                                                                       |                                                            |                           |                                                                                                          |  |
|                                                                                                                       | B. ACCOUNTANT IDENTIFICATION                               |                           |                                                                                                          |  |
| INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*                                             |                                                            |                           |                                                                                                          |  |
| Ohab and Company, PA<br>_____________________________________________________________________________________         |                                                            |                           |                                                                                                          |  |
|                                                                                                                       | (Name – if individual, state last, first, and middle name) |                           |                                                                                                          |  |
| 100 Sybelia Avenue, STE 130                                                                                           | Maitland                                                   | FL                        | 32751                                                                                                    |  |
| _____________________________________________________________________________________<br>(Address)                    | (City)                                                     | (State)                   | (Zip Code)                                                                                               |  |
|                                                                                                                       |                                                            |                           |                                                                                                          |  |
| 07/28/2004<br>_____________________________________________________________________________________                   |                                                            | 1839                      |                                                                                                          |  |
| (Date of Registration with PCAOB)(if applicable)                                                                      |                                                            |                           | (PCAOB Registration Number, if applicable)                                                               |  |
|                                                                                                                       | FOR OFFICIAL USE ONLY                                      |                           |                                                                                                          |  |

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.** 

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#### OATH OR AFFIRMATION

| Bruce Williamson                                          |                       | swear (or affirm) that, to the best of my knowledge and belief, the                                                                                                                                                              |
|-----------------------------------------------------------|-----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| tinancial report pertaining to the firm of Trailmark Inc. |                       | as of                                                                                                                                                                                                                            |
| 12/31<br>as that of a customer.                           | CER HAM               | 2021 , is true and correct. I further swear (or affirm) that neither the company nor any<br>partner, officer, director, or equivalent person, as the pape, may be, has any proprietary interest in any account classified solely |
|                                                           | EXPIRES               | Signature:                                                                                                                                                                                                                       |
|                                                           | GEORGIA<br>06/25/2023 | Title:<br>CFO                                                                                                                                                                                                                    |
| Notary Public                                             |                       |                                                                                                                                                                                                                                  |

#### This filing \*\* contains (check all applicable boxes):

- (a) Statement of financial condition.
- [ (b) Notes to consolidated statement of financial condition.
- [c) Statement of income (loss) or, if there is other comprehensive in the period(s) presented, a statement of comprehensive income (as defined in § 210.1-02 of Regulation S-X).
- O (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.
- [ (I) 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.
- O (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable.
- □ (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist.
- [ (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition.
- (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable.
- [ (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- [s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- (t) Independent public accountant's report based on an examination of the statement of financial condition.
- □ (u) Independent public accountant's report based on an examination of the financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable.
- 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, as applicable.
- □ (y) Report describing any material inadequacies found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k).
- Ü (z) Other:
- \* To request confidential treatment of certain portions of this filing, see 17 CFR 240.17c-5(e)(3) or 17 CFR 240.18c-7(d)(2), as 11 applicable.

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# **TABLE OF CONTENTS**

| Report of Independent Registered Public Accounting Firm | 1     |
|---------------------------------------------------------|-------|
| Financial Statements                                    |       |
| Statement of Financial Condition                        | 2     |
| Notes to Financial Statements                           | 3 - 5 |

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![](_page_4_Picture_0.jpeg)

100 E. Sybelia Ave. Suite 130 Maitland, FL 32751

Certified Public Accountants Email: pam(@ohabco.com

Telephone 407-740-7311 Fax 407-740-6441

# REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholder's of Trailmark, Inc.

#### Opinion on the Financial Statement

We have audited the accompanying statement of financial condition of Trailmark, Inc. as of December 31, 2021, and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of Trailmark, Inc. as of December 1, 2221 in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion

This financial statement is the responsibility of Trailmark, Inc.'s management. Our responsibility is to express an opinion on Trailmark, Inc.'s financial statement based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to Trailmark, Inc. in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statement, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and sightficant 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.

Ohab and Company, PA We have served as Trailmark, Inc.'s auditor since 2018.

Maitland, Florida

April 14, 2022

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# **75\$,/0\$5.,1& 67\$7(0(172)),1\$1&,\$/&21',7,21 '(&(0%(5**

## **ASSETS**

| Cash<br>and<br>cash<br>equivalents     | <br><br> |
|----------------------------------------|----------|
| Accounts<br>receivable                 |          |
| Prepaid<br>expenses<br>and<br>deposits |          |
| 3URSHUW\DQGHTXLSPHQWQHW                | <br>     |
| 2WKHUDVVHWV                            | <br>     |
| Total<br>Assets                        | <br><br> |
|                                        |          |

# **LIABILITIES AND STOCKHOLDERS' EQUITY**

| CURRENT<br>LIABILITIES                                 |          |
|--------------------------------------------------------|----------|
| Accounts<br>payable<br>and<br>accrued<br>expenses      | <br><br> |
| 3D\UROOOLDELOLWLHV                                     |          |
| AccruedUetirementFontribution                          |          |
| Total<br>Liabilities                                   |          |
|                                                        |          |
| STOCKHOLDERS'<br>EQUITY                                |          |
| Common<br>stock,<br>\$0.01<br>par<br>value,<br>10,000  |          |
| authorized;<br>2,600<br>shares<br>issued<br>and        |          |
| Additional<br>paid-in<br>capital                       |          |
| Retained<br>Earnings                                   |          |
| TotalStockholders'<br>Equity                           |          |
| Total<br>Liabilities<br>and<br>Stockholders'<br>Equity | <br><br> |

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{6}------------------------------------------------

# TRAILMARK INC. Notes to Financial Statements December 31, 2021

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{7}------------------------------------------------

# TRAILMARK INC. Notes to Financial Statements December 31, 2021

# NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Accounts receivable - Accounts receivable represent amounts billed but not yet received. Management regularly evaluates the allowance for doubtful accounts considering a number of factors. Management individually reviews all accounts receivable balances that exceed 90 days from the invoice due date and, based on assessment of current creditworthiness, past payment history, and historical loss experience, estimates the portions, if any, of the balance that will not be collected. Management determined that an allowance for doubtful accounts was not necessary as of December 31, 2021 as all receivables were deemed collectable.

Property and equipment - Furniture, fixtures, and equipment are depreciated on a straight-line basis over fiveyear estimated useful lives.

## NOTE 2 - COMMITMENTS AND CONTINGENCIES

The Company filed an arbitration against an investment fund manager who subsequently filed a counterclaim against the Company for breach of contract for unspecified monetary damages. The arbitration is ongoing, and the Company intends to vigorously contest the counterclaims. There is no liability accrued as it cannot be ascertained.

# NOTE 3 - PROPERTY AND EQUIPMENT

Property and equipment recorded at cost as of December 31, 2021 consist of the following classifications:

| Computers & peripherals       | ക    | 45,165 |
|-------------------------------|------|--------|
| Furniture                     |      | 45,409 |
| Office equipment              |      | 9,003  |
|                               |      | 99,577 |
| Less accumulated depreciation |      | 93,037 |
| Property and equipment, net   | ಲ್ಲಿ | 6,540  |

Depreciation expense for the year ended December 31, 2021 was \$780.

## NOTE 4 - LEASES

The Company renewed a lease for a period of one-year effective December 1, 2021, for monthly payments in the amount of \$10,838, which expires on November 30, 2022. The Company has elected not to apply the recognition requirements of Topic 842 relating to its short-term office lease and instead has elected to recognize the leas payments as cost on a straight-line basis over the lease cost is \$136,249 for the year

## NOTE 5- PENSION PLAN

The Company established a retirement plan during the year ended December 31, 2013 to replace the former Simplified Employee Pension plan (SEP) covering eligible employees. Company contributions to the plan are determined annually and are made at the discretion of the Board of

Directors. Employees do not make contributions into the plan. For the year ended December 31, 2021, the Company contributed \$107,618 to the plan and is included in expenses in the statement of operations.

{8}------------------------------------------------

# TRAILMARK INC. Notes to Financial Statements December 31, 2021

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