# SABLE CAPITAL LLC X-17A-5 (2023-02-21) — Broker-dealer annual report - Company: SABLE CAPITAL LLC - Form: X-17A-5 - Filed: 2023-02-21 - Period: 2022-12-31 - Accession: 0001144505-23-000002 - CIK: 1144505 - File #: 8-53400 - Type: Broker-dealer - Material weakness: No - Auditor: GOLDMAN AND COMPANY, CPA'S, PC - Auditor location: MARIETTA, GA - Contact: CURTIS WEEKS - Phone: 678-679-8642 - Email: cweeks@sablebd.com - Website: sablebd.com - Signed by: JONATHAN E. CURLEY (CEO, CHIEF COMPLIANCE OFFICER) Original filing: https://www.sec.gov/Archives/edgar/data/1144505/000114450523000002/sable2022audit.pdf --- {0}------------------------------------------------ | | | UNITED STATES | | OMB APPROVAL | |---------------------------------------------------------------------|--------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------|-----------------------|----------------------------------------------------------------------------------------------------------| | | | SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 | | 0MB Number: 3235-0123
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hours per response: | | | | ANNUAL REPORTS | | SEC FILE NUMBER | | | | FORM X-17A-5 | | 8-53400 | | | | PART Ill | | | | | | | | | | | | FACING PAGE
Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | | | | FILING FOR THE PERIOD BEGINNING O 1/01/2022 | | | AND ENDING 12/31/2022 | | | | | MM/DD/VY | | MM/DD/YY | | | | A. REGISTRANT IDENTIFICATION | | | | | | vaMe or mm S
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O | | | | TYPE OF REGISTRANT (check all applicable boxes):
e Broker-dealer | [] Security-based swap dealer | | | D Major security-based swap participant | | | 0 Check here if respondent is also an OTC derivatives dealer | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.)
101 South Tryon Street, Suite 2555 | | | | | | (No. and Street) | | | | | Charlotte | NC | | 28280 | | | (City) | (State) | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | Curtis Weeks | | 678-679-8642 | | cweeks@sablebd.com | | (Name) | | (Area Code -- Telephone Number) | (Email Address) | | | | | B. ACCOUNTANT IDENTIFICATION | | | | Goldman and Company, CPA's. PC | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing | | | | | | (Name -- if individual, state last, first, and middle name) | | | | 3535 Roswell RD, Ste 32
(Address) | | Marietta
(City) | GA
(State) | 30062
(Zip Code) | | 06/25/2009 | | | 1952 | | 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 0MB control number.** {1}------------------------------------------------ #### **OATH OR AFFIRMATION** | I,
Jonathan E. Curley | swear (or affirm} that, to the best of my knowledge and belief, the | |------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------| | financial report pertaining to the firm of | Sable Capital LLC
as of | | December 31 | 22022, is true and correct. I further swear (or affirm) that neither the company nor any | | | partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely | | as that of a customer.
ArtiPatel
NOTARY PUBLIC
Union County, North Carolina
My Commission
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CEO, Chief Compliance Officer | | | | Notary Public #### **This filing contains (check all applicable boxes):** - @ (a) Statement of financial condition. - D (b) Notes to consolidated statement of financial condition. - I!! (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).** - ii (d) Statement of cash flows. - (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - D (f) Statement of changes in liabilities subordinated to claims of creditors. - Iii (g) Notes to consolidated financial statements. - i (h) Computation of net capital under 17 CFR 240.15c3-1 0r 17 CFR 240.18a-1, as applicable. - 0 (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 240.15c3-3 or Exhibit A to 17 CFR 240.18a4, as applicable. - D (I) Computation for Determination of PAB Requirements under Exhibit A to 5 240.15c3-3. - iii (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - D (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable. - D (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.1503-1, 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. - 0 (p) Summary of financial data for subsidiaries not consolidated in the statement offinancial condition. - el (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, 0r 17 CFR 240.18a-7, as applicable. - E] (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - ai (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - D (t) Independent public accountant's report based on an examination of the statement of financial condition. - � (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. - [] ()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. - iii (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. - D (y) Report describing any material inadequacies found to exist or found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). - 0 (z)Other: \_ *To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable.* {2}------------------------------------------------ FINANCIAL STATEMENTS WITH REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM AND ACCOMPANYING INFORMATION **DECEMBER 31, 2022** {3}------------------------------------------------ # TABLE OF CONTENTS | I
Report of Independent Registered Public Accounting Firm | |----------------------------------------------------------------------------------------------------------------------------------------------| | Financial Statements | | Statement of Financial Condition
2 | | Statement of Operations
3 | | Statement of Changes in Member's Equity
.4 | | Statement of Cash Flows
5 | | Notes to Financial Statements
6 | | Supplemental Schedules | | Schedule I-- Computation of Net Capital under Rule 15c3-1 of the
Securities and Exchange Commission
9 | | Schedule II-Computation for Determination of Reserve Requirement for
Brokers and Dealers Pursuant to Rule 15c3-3 under the Securities and | Exchange Act of 1934 10 Rule 15c3-3 11 Exemption Report 12 Exemption Report 13 Schedule III - Information Relating to the Possession or Control Report of Independent Registered Public Accounting Firm on Requirements under the Securities and Exchange Commission Rule 15c3-3 #### **Page** {4}------------------------------------------------ #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member and Management of Sable Capital, LLC #### **Opinion on the Financial Statements** We have audited the accompanying statement of financial condition of Sable Capital, LLC as of December 31, 2022, the related statements of operations, changes in member's equity and cash flows for the year ended December 31, 2022 and the related notes and schedules I, II and ill (collectively referred to as the **"financialu** *2* statements"). In our opinion, the financial statements present fairly, in all material respects, the financial O position of Sable Capital, LLC as of December 3 1, 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 • U America. **S** #### **Basis for Opinion** These financial statements are the responsibility of Sable Capital, LLC's management. Our responsibility is to express an opinion on Sable Capital, LLC's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the company in accordance with the U.S Federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion. #### **Auditor's Report on Supplemental Information** The schedule's I, II, and ID have been subjected to audit procedures performed in conjunction with the audit of Sable Capital, LLC's financial statements. The supplemental information is the responsibility of Sable Capital, LLC's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with 17 C.F.R. \$240.17a-5. In our opinion, the schedule's I, IL and ill are fairly stated, in all material respects, in relation to the financial statements as a whole. We have served as the Company's auditor since 2015. Goldman & Company, CPA's, P.C. Marietta, Georgia February 23, 2023 {5}------------------------------------------------ ## **Statement of Financial Condition** December 31, 2022 #### **ASSETS** | Cash and cash equivalents
Accounts receivable
Prepaid expenses and other assets | \$
28,813
21,926
6,251 | |---------------------------------------------------------------------------------------|---------------------------------| | TOTAL ASSETS | \$
56,990 | | LIABILITIES AND MEMBER'S EQUITY | | | Liabilities
Accounts payable | \$
7,813 | | Total Liabilities | 7,813 | | Member's Equity | 49,177 | | TOTAL LIABILITIES AND MEMBER'S EQUITY | \$
56,990 | {6}------------------------------------------------ ## **Statement of Operations** Year ended December 31, 2022 | Revenues: | | |------------------------------------|----------------| | Other Income - Registered Rep Fees | \$
20,248 | | Expenses: | | | Registration fees | 8,835 | | Consulting | 43,725 | | Professional fees | 15,372 | | Rent | 1,900 | | Insurance | 1,265 | | Miscellaneous | 776 | | Total Expenses | 71,873 | | NET LOSS | \$
(51,625) | {7}------------------------------------------------ ## **Statement of Changes in Member's Equity** Year ended December 31, 2022 | | Total
Member's
Equity | | |-----------------------------------|-----------------------------|----------| | | | | | Balance at December 31, 2021 | \$ | 37,402 | | Capital contributions | | 63,400 | | Net loss | | (51,625) | | Balance at December 31, 2022
\ | \$ | 49,177 | {8}------------------------------------------------ ### **Statement of Cash Flows** Year ended December 31, 2022 | Cash flows from operating activities: | | |--------------------------------------------------------------------------------|----------------| | Net loss | \$
(51,625) | | Adjustments to reconcile net loss to net cash used in
operating activities: | | | Other assets | 985 | | Accounts receivable | 1,109 | | Accounts payable | (227) | | Net cash used in operating activities | (49,758) | | Cash flows from financing activities:
Capital contributions | 63,400 | | Net cash provided by financing activities | 63,400 | | INCREASE IN CASH AND CASH EQUIVALENTS | 13,642 | | Cash and cash equivalents, beginning of year | 15,171 | | Cash and cash equivalents, end of year | \$
28,813 | {9}------------------------------------------------ #### **Note A- Summary of Organization, Operations, and Significant Accounting and Reporting Policies** #### **Nature of Operations** Sable Capital, LLC ("Sable" or "the Company"), a Delaware limited liability company, is a registered broker-dealer with the Securities and Exchange Commission ("SEC) and is a member of the Financial Industry Regulatory Authority ("FINRA"). Sable primarily operates as a broker-dealer offering investment banking services and as an underwriter of interstate and intrastate offerings and Direct Participation Program offerings. Sable does not hold cash or securities for its customers. The firm operates from the state of Missouri. The financial statements do not contain a statement of changes in liabilities subordinated to claims of general creditors as required by Rule 17a-5 of the SEC, as no such liabilities existed at December 31, 2022 or during the year then ended. ## **Use of Estimates in Financial Statement Preparation** The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. ## **Cash and Cash Equivalents** For purposes of reporting cash flows, the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. The Company's cash and cash equivalents are on deposit with a major domestic financial institution. At times, bank deposits may be in excess of federally insured limits. #### **Recognition of Revenue** On January 1, 2018, the Company adopted ASU 2014-09 *Revenue from Contracts with Customers* and all subsequent amendments to the ASU (collectively, "ASC 606"), which creates a single framework for recognizing revenue from contracts with customers that fall within its scope. Revenue is measured based on a consideration specified in a contract with a customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control over goods or service to a customer. Services approved within the scope of ASC 606 include investment banking activities. The Company is approved to provide advisory services/corporate finance activity including mergers and acquisitions, reorganizations, tender offers, leveraged buyouts, fundraising activity and the pricing of securities to be issued. {10}------------------------------------------------ #### **Note A- Summary of Organization, Operations, and Significant Accounting and Reporting Policies** *(continued)* Registered Rep. Fees include reimbursement from Company representatives of costs incurred by the Company such as errors and omissions insurance, continuing education, access to technology and other items as agreed. For 2022, the Company only had revenue from reimbursement of expenses from its registered representatives. ## **Accounts Receivable** The Company has reviewed its *AIR* and has determined that all *AIR* is collectable, and no valuation allowance is needed. *AIR* terms are due upon receipt. The Accounts Receivable balance at December 31, 2021 was \$23,035. #### **Income Taxes** The Company is formed as a single member limited liability company and as such, its operations are included in the Parent Company's tax returns. Earnings and losses of the Company are included in the personal income tax returns of the Parent Company's members. Accordingly, the financial statements do not include a provision for income taxes. The Company has addressed the provisions of ASC 740-10, *Accounting for Income Taxes.* In that regard, the Company has evaluated its tax positions, expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings and believes that no provision for income taxes is necessary at this time to cover any uncertain tax positions. #### **Prepaid FINRA Fee** As a member of FINRA, the Company is charged annual registration fees. These fees are paid in advance and amortized monthly. #### **Subsequent Events** The Company's member, ButcherJoseph Financial Holdings, LLC, has transferred 100% of its interests in the Company to ButcherJoseph & Company LLC effective January 1, 2023. This will have no effect on these financial statements. The Company has evaluated subsequent events through February 23, 2023, the date the financial statements were issued. It was concluded there were no other events or transactions occurring during this period that required recognition or disclosure in the financial statements. The Company is evaluating new accounting standards and will implement as required. {11}------------------------------------------------ #### **Note B- Related Party Transactions** The Company has entered into an expense sharing agreement with its member for various rent, technology, and other miscellaneous expenditures commensurate with its operations. The term of the expense sharing agreement is monthly until cancelled by either party. It was terminated effective December 31, 2022. There were no amounts payable to the member as of December 31, 2022 for the aforementioned expenses. Expenses recorded on the Statement of Operations for the year are detailed as follows: | Rent | \$
1,900 | |-------------------|-------------| | Professional Fees | 6,500 | | | \$
8,400 | During the year, the member made \$63,400 in capital contributions to Sable of which \$8,400 is debt forgiveness by its member. #### **Note C - Net Capital Requirements** The Company is subject to the Securities and Exchange Commission's ("SEC's") Uniform Net Capital Rule (SEC Rule 15c3-1) of the Securities Exchange Act of 1934, which requires maintenance of minimum Net Capital. Under the Rule, the Company is required to maintain minimum Net Capital, as defined, equal to the greater of \$5,000 or 6 2/3% of aggregate indebtedness and the ratio of aggregate indebtedness to Net Capital cannot exceed 15 to 1. At December 3 1, 2022, the Company had Net Capital of\$21,000 which was \$16,000 in excess of its required Net Capital of \$5,000. The Company's ratio of aggregate indebtedness to Net Capital was 0.372 to **1** at December 3 1, 2022. The Company does not claim an exemption from SEA Rule 15c3-3, in reliance on footnote 74 to SEC Release 34-70073, and as discussed in Q&A 8 of the related FAQ issued by SEC staff. The Company does not (1) directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, (2) does not carry accounts of or for customers and (3) does not carry P AB accounts. #### **Note D - Contingencies** The securities industry is subject to extensive regulation under federal, state, and applicable international laws. Sable is also subject to periodic regulatory audits and inspections. Compliance and trading problems that are reported to regulators, such as the SEC, FINRA, and/or the FDIC by dissatisfied customers or others are investigated by such regulator and may, if pursued, result in formal claims being filed against Sable by the customer or {12}------------------------------------------------ ## **Note D- Contingencies** *(continued)* disciplinary action being taken against Sable by the regulator that could have a material impact on the Company's financial position, results of its operations, or cash flows. At December 31, 2022, management is not aware of any regulatory issues and there were no amounts levied against the Company as a result of regulatory assessments for the year then ended. ## **Note E- Concentrations** The Company had revenue from 1 source in 2022. #### **Note F - Basis of Accounting** These financial statements are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States. #### **Note G-Going Concern** The Company has sustained recurring losses and negative cash flows from operations over the past two years. The Company's owner is committed to keeping the Company operating for the next 12 to 24 months via capital contributions, if necessary. Therefore, it will be able to meet its commitments and net capital requirements for that time period. {13}------------------------------------------------ Supplemental Schedules {14}------------------------------------------------ # **Sable Capital, LLC** **December 31, 2022** ## **Schedule I - Computation of Net Capital under Rule 15c3-1 of the Securities and Exchange Commission** | COMPUTATION OF NET CAPITAL | | | |----------------------------------------------------------------------------------------------------------------------|------------|--------| | Total member's equity | \$ | 49,177 | | Deductions: | | | | Non-allowable assets: | | | | Accounts receivable | | 21,926 | | Other assets | | 6,251 | | Net capital before haircuts | | 21,000 | | Haircuts: | | | | Total haircuts | | | | NET CAPITAL | \$ | 21,000 | | COMPUTATION OF AGGREGATE INDEBTEDNESS | | | | Items included in the statement of financial condition:
Accounts payable, accrued expenses, and other liabilities | | 7,812 | | Total aggregate indebtedness | \$ | 7,812 | | COMPUTATION OF BASIC NET CAPITAL | | | | REQUIREMENT | \$ | | | Minimum net capital required | | 5,000 | | Excess net capital | \$ | 16,000 | | Ratio of aggregate indebtedness to net capital | 0.372 to 1 | | There is no material difference in the above computation and the Company's net capital as reported in the Company's Part IIA (unaudited) FOCUS report as of December 31, 2022. {15}------------------------------------------------ ## **Sable Capital, LLC** **Schedule II - Computation for Determination of Reserve Requirements for Brokers and Dealers Pursuant to Rule 15c3-3 under the Securities and Exchange Act of 1934** The Company does not claim an exemption from SEA Rule 15c3-3, in reliance on footnote 74 to SEC Release 34-70073, and as discussed in Q&A 8 of the related FAQ issued by SEC staff. The Company does not (1) directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, (2) does not carry accounts of or for customers and (3) does not carry PAB accounts. {16}------------------------------------------------ # **Sable Capital, LLC** # **Schedule Ill - Information Relating to the Possession or Control Requirements under the Securities and Exchange Commission Rule 15c3-3** The Company does not claim an exemption from SEA Rule 15c3-3, in reliance on footnote 74 to SEC Release 34-70073, and as discussed **in Q&A 8** of the related FAQ issued by SEC staff. The Company does not ( 1) directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, (2) does not carry accounts of or for customers and (3) does not carry P AB accounts. {17}------------------------------------------------ #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member and Management of Sable Capital, LLC Red Z. We have reviewed management's statements for the year ended December 31, 2022, included in the accompanying Rule 15c3-3 Exemption Report pursuant to SEC Rule 17a-5, in which (1) Sable ad Capital, LLC (the Company) did not claim an exemption under paragraph (k) of 17 C.F.R. §240.15c3-3, and (2) the Company is filing this Exemption Report relying on Footnote 74 of **theu** 2 SEC Release No. 34-70073 adopting amendments to 17 C.F.R. \$ 240.17a-5 because the Company o limits its business activities exclusively to include receiving transaction-based compensation for U identifying potential merger and acquisition opportunities for clients. In addition, the Company did; .. not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of Rule 15c2-4 and/or funds received and promptly transmitted for effecting transactions via subscriptions on a subscription way basis where the funds are payable to the issuer or its agent and not to the Company; did not carry accounts of or for customers; and did not carry P AB accounts ( as defined in Rule 15c3-3) throughout the most recent fiscal year without exception. Sable Capital, LLC's management is responsible for compliance with the exemption provisions and its statements. Our review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included inquiries and other required procedures to obtain evidence about Sable Capital, LLC's compliance with the exemption provisions. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's statements. Accordingly, we do not express such an opinion. Based on our review, we are not aware of any material modifications that should be made to management's statements referred to above for them to be fairly stated, in all material respects, based upon the Company's business activities contemplated by Footnote 74 of the SEC Release No. 34 70073 adopting amendments to 17 C.F .R. § 240. 17a-5, and related SEC Staff Frequently Asked Questions. Goldman & Company, CPA's, P.C. Marietta, Georgia February 23, 2023 {18}------------------------------------------------ # SABLE CAPITAL February 2, 2023 To whom it may concern: ## RE: **Exemption Report** Sable Capital, LLC (the "Firm") is a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. 8240.17a-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)(l) and (4). To the best of its knowledge and belief, the Firm states the following: The Firm does not claim an exemption under paragraph (k) of 17 C.F.R. § 240.15c3-3; and the Firm is filing this Exemption Report in reliance on Footnote 74 to SEC Release 34- 70073 and as discussed in Q&A 8 of the related FAQ issued by SEC staff. The Firm has no obligation under SEC Rule 15c3-3 because it does not directly or indirectly receive, hold or otherwise owe funds or securities for or to customers; does not carry accounts of or for customers; and does not carry P AB accounts. The Firm conducts business activities involving private placements; broker selling tax shelters or limited partnerships in primary distributions: mergers and acquisitions; and referral business for compensation. We do not accept customer funds or securities and will not have possession of any customer funds or securities in connection with our activities. The Firm had no exceptions to the provision identified above throughout the most recent fiscal year. I, Jonathan E Curley, swear (or affirm) that, to my best knowledge and belief, this Exemption Report is true and correct. *:£.* President, Chief Compliance Officer SABLE CAPITAL, LLC 101 S. Tryon St., Suite 2555 Charlotte, North Carolina 28280 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.