# POWDER POINT FINANCIAL LLC X-17A-5 (2026-02-06) — Broker-dealer annual report - Company: POWDER POINT FINANCIAL LLC - Form: X-17A-5 - Filed: 2026-02-06 - Period: 2025-12-31 - Accession: 0001411989-26-000004 - CIK: 1411989 - File #: 8-67715 - Type: Broker-dealer - Material weakness: No - Auditor: Thomas Faust, CPA, LLC - Auditor location: Lafayette, IN - Contact: marjorie kelly - Phone: 7812646045 - Email: powderpointfinl@gmail.com - Signed by: Marjorie Kelly (President) Original filing: https://www.sec.gov/Archives/edgar/data/1411989/000141198926000004/ppffs2025a.pdf --- {0}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ## ANNUAL REPORTS FORM X-17A-5 PART III | OMB APPROVAL | |--------------------------| | OMB Number: 3235-0123 | | Expires: Nov. 30, 2026 | | Estimated average burden | | hours per response: 12 | | SEC FILE NUMBER | | |-----------------|--| | 8-67715 | | 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 01/01/2025 | | 12/31/2025
AND ENDING | | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------|--------------------------|--| | | MM/DD/YY | MM/DD/YY | | | | A. REGISTRANT IDENTIFICATION | | | | NAME OF FIRM: Powder Point Financial 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.)
61 Ridge Road | | | | | (No. and Street) | | | | | Marshfield | MA | 02050 | | | (City) | (State) | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | Marjorie Kelly | 781-264-6045 | powderpointfinl@gmail.com | | |----------------|--------------------------------|---------------------------|--| | (Name) | (Area Code - Telephone Number) | (Email Address) | | #### B. ACCOUNTANT IDENTIFICATION INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* # Thomas Faust, CPA, LLC (Name - if individual, state last, first, and middle name) 174 Coldbrook Ct. (Address) Lafayette IN 47909 (City) (State) 6479 (Zip Code) (Date of Registration with PCAOB) (if applicable) (PCAOB Registration Number, if applicable) FOR OFFICIAL USE ONLY 02/14/2018 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 formare not required to respond unless the form displays a currently valid OMB control number. {1}------------------------------------------------ #### OATH OR AFFIRMATION | 1, Marjorie Kelly | swear (or affirm) that, to the best of my knowledge and belief, | the | |------------------------------------------------------------------------|-----------------------------------------------------------------------------------------|-----| | financial report pertaining to the firm of Powder Point Financial, LLC | _ as of | | | December 31 | 2025, 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. Sodnayiris Kelly 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. - Π (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 requirementss 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. - 미 (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. - (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. - Π (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist. - D (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - (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. - 미 (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - Ε (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. - D (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 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 applicable. {2}------------------------------------------------ # Jurat Certificate ![](_page_2_Picture_2.jpeg) #### State of Florida | County of Charlotte | | | | |-----------------------------------------------------------------------|-----------------|--|--| | Sworn to (or affirmed) and subscribed before me this 13th | 20 26, by | | | | physical presence or ☐ online notarization Marjorie Kelly
means of | | | | | making statement). | | | | | Personally known to me
☑ Produced Identification | | | | | Type of Identification Produced FL Drivers License | | | | | ken
Notary Signature | | | | | Title
Notary Public | | | | | My appointment expires 8/3/2027 | | | | | Place Seal Here | | | | | KAREN E LOKKER
Notary Public State of Fiorida | | | | | Commission # 4H 422730
My Comm. Expires Aug 2. 2027 | | | | | Description of Attached document | | | | | Type or Title of Document
Annual Reports Form x-17A-5 Part III | | | | | Document Date | Number of Pages | | | | Signer(s) Other Than Named Above | | | | {3}------------------------------------------------ **Powder Point Financial, LLC** **Report on Audit of Financial Statements** **December 31, 2025** *\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_* ![](_page_3_Picture_3.jpeg) {4}------------------------------------------------ ![](_page_4_Picture_1.jpeg) ### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member Powder Point Financial, LLC #### **Opinion on the Financial Statements** I have audited the accompanying statement of financial condition of Powder Point Financial, LLC, as of December 31, 2025, the related statements of income, changes in member's equity, and cash flows for the year then ended, and the related notes and schedule (collectively referred to as the financial statements). In my opinion, the financial statements present fairly, in all material respects, the financial position of Powder Point Financial, LLC 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 Powder Point Financial, LLC's management. My responsibility is to express an opinion on Powder Point Financial, LLC's financial statements based on my audit. I am a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and am required to be independent with respect to Powder Point Financial, LLC in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. I conducted my audit in accordance with the standards of the PCAOB. Those standards require that I 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. My 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. My 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. I believe that my audit provides a reasonable basis for my opinion. #### **Supplemental Information** The Schedule l, Computation of Net Capital Under SEC Rule 15c3-1 has been subjected to audit procedures performed in conjunction with the audit of Powder Point Financial, LLC's financial statements. The supplemental information is the responsibility of Powder Point Financial, LLC's management. My 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 my opinion on the supplemental information, I evaluated whether the supplemental information, including its form and content, is presented in conformity with 17 C.F.R. §240.17a-5. In my opinion, Schedule l, Computation of Net Capital Under SEC Rule 15c3-1, is fairly stated, in all material respects, in relation to the financial statements as a whole. {5}------------------------------------------------ ![](_page_5_Picture_0.jpeg) Thomas Faust, CPA, LLC d/b/a Thomas Faust, CPA I have served as the Company's auditor since 2018. Lafayette, Indiana January 19, 2026 {6}------------------------------------------------ ## **Powder Point Financial, LLC Statement of Financial Condition As of December 31, 2025** | ASSETS | | | |---------------------------------|----------|--| | ASSETS | | | | Cash | \$42,766 | | | Other assets | 426 | | | TOTAL ASSETS | \$43,192 | | | | | | | LIABILITIES AND MEMBER'S EQUITY | | | | LIABILITIES | | | | Accounts Payable | \$7,000 | | | TOTAL LIABILITIES | 7,000 | | | | | | | MEMBER'S EQUITY | | | | Member's Equity | 36,192 | | | TOTAL LIABILITIES AND | | |-----------------------|----------| | MEMBER'S EQUITY | \$43,192 | | | | **TOTAL MEMBER'S EQUITY** 36,192 {7}------------------------------------------------ ## **Powder Point Financial, LLC Statement of Income For Year Ended December 31, 2025** #### **REVENUE** | Fees Revenue | \$70,313 | |-------------------|----------| | TOTAL REVENUE | 70,313 | | EXPENSES | | | Regulatory Fees | 803 | | Professional Fees | 7,000 | | Fees | 15 | | Insurance | 611 | | Office Expenses | 1,633 | | TOTAL EXPENSES | 10,062 | | NET INCOME | \$60,251 | {8}------------------------------------------------ **Powder Point Financial, LLC Statement of Changes in Member's Equity For Year Ended December 31, 2025** | MEMBER'S EQUITY AT BEGINNING OF YEAR | \$23,978 | |--------------------------------------|----------| | Net Income (Loss) | 60,251 | | Member Contributions | - | | Member Distributions | 48,037 | | MEMBER'S EQUITY AT END OF YEAR | \$36,192 | {9}------------------------------------------------ ## **Powder Point Financial, LLC Statement of Cash Flows For Year Ended December 31, 2025** | Net Income | \$60,251 | |-------------------------------------------|----------| | Adjustments made to reconcile | | | net income to net cash provided by: | | | Operating Activities: | | | Other Assets | (32) | | Net Cash Provided by Operating Activities | 60,219 | | Cash Flows From Investing Activities | | | Member Distributions | (48,037) | | Net Cash Used in Investing Activities | (48,037) | | NET INCREASE IN CASH | 12,182 | | CASH AT BEGINNING OF YEAR | 30,594 | | CASH AT END OF YEAR | \$42,766 | | CASH PAID DURING THE YEAR FOR: | | | Income Taxes | \$0 | | Interest | \$0 | {10}------------------------------------------------ ## **POWDER POINT FINANCIAL, LLC NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED DECEMBER 31, 2025** ### **NOTE 1: ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** A summary of the Firm's significant accounting policies consistently applied in the preparation of the accompanying financial statements are as follows: a. Nature of Operations— Powder Point Financial, LLC (the Firm) was formed in February of 2007 as a limited liability company under the laws of the State of Massachusetts. As such, the owner (the Member) is not liable for the debts of the Firm. The Firm is a registered broker-dealer located in Marshfield, Massachusetts. b. Cash Equivalents—For purposes of the statements of cash flows, the Firm considers all highly liquid debt instruments with maturities of three months or less when purchased to be cash equivalents. There were no cash equivalents at December 31, 2025. c. Use of Estimates—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, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. d. Concentrations of Credit Risk—The Firm places its cash in accounts with a local financial institution. At times, balances in these accounts may exceed FDIC insured limits. At no time in 2025 did these balances exceed FDIC insured limits. e. Revenue Recognition—Fee revenue includes recurring consulting fees that are paid during the engagement, and success fees earned on completed placement transactions. Consulting fees are recognized at the time of services performed and success fees when the engagement is completed. On May 2014, FASB issued ASU 2014-09, "Revenue from Contracts with Customers Topic 606" which supersedes nearly all existing revenue recognition guidance under generally accepted accounting principles. The Firm's revenue recognition policy conforms with this pronouncement by recognizing revenue in accordance with the five components of the pronouncement: - Identify the contract with the customer - Identify the performance obligation - Determine the transaction price - Allocate the transaction price to the performance obligation - Recognize the revenue when the performance obligation is met f. Recently issued Accounting Pronouncement Adopted – In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures," which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about {11}------------------------------------------------ ## **POWDER POINT FINANCIAL, LLC NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED DECEMBER 31, 2025** significant segment expenses. This pronouncement was adopted effective January 1, 2024. For further information, refer to Note 7. #### **NOTE 2: CONCENTRATIONS** The Firm's revenues may be derived from retainer fees and fees for identifying and introducing qualified investors to various investment advisors, limited partnerships and other similar entities. The Firm's revenues may also be derived from retainers and fees for marketing efforts on behalf of investment advisors, limited partnerships and other similar entities. These marketing efforts may include identification of asset class market trends; identification of strategic seminars and conferences for investment advisors to attend/sponsor/speak; and identification of targeted markets for investment. Revenues can be concentrated to a small number of customers. #### **NOTE 3: NET CAPITAL REQUIREMENTS** The Firm is required to maintain a minimum net capital under Rule 15c3-1 of the Securities and Exchange Commission. Net capital required under the rule is the greater of \$5,000 or 6 2/3 percent of the aggregate indebtedness of the Firm. At December 31, 2025, net capital as defined by the rules, equaled \$35,766. The ratio of aggregate indebtedness to net capital was 19.57%. Net capital in excess of the minimum required was \$30,766. ### **NOTE 4: INCOME TAXES** The Firm has elected to be treated as a Limited Liability Company under the Internal Revenue Code, having the Firm's income treated for federal income tax purposes substantially the same as if the Firm were a partnership. The Member's respective equitable shares in the net income of the Firm are reportable on the individual's tax return. Accordingly, the financial statements reflect no provisions or liability for federal income taxes. Accounting principles generally accepted in the United States of America require the Firm to examine its tax positions for uncertain positions. Management is not aware of any tax positions that are more likely than not to change in the next twelve months or that would not sustain an examination by applicable taxing authorities. The Firm's policy is to recognize penalties and interest as incurred in its Statement of Income; there were none for the year ended December 31, 2025. The firm's federal and state income tax returns for 2022 through 2025 are subject to examination by the applicable tax authorities, generally for three years after the later of the original or extended due date. ### **NOTE 5: ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES** In June 2006, the Financial Accounting Standards Board (FASB) issued FASB Interpretation Number 48 (FIN 48), Accounting for Uncertainty in Income Taxes - an Interpretation of FASB Statement No. 109 {12}------------------------------------------------ ## **POWDER POINT FINANCIAL, LLC NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED DECEMBER 31, 2025** (SFAS 109). The interpretation contains a two-step approach to recognizing and measuring uncertain tax positions accounted for in accordance with SFAS 109. The Firm has elected to defer the adoption of FIN 48 as allowed in FASB Staff Position (FSP-48-3) issued December 30, 2008. The adoption of this standard is not currently anticipated to have a material impact on the Firm's financial position, results of operations, or cash flows; however, the effect on future financial statements of this pronouncement cannot be determined at this time. Management will continue to evaluate any uncertain tax positions, if any, during the deferral period. ### **NOTE 6: FILING REQUIREMENTS** There were no liabilities subordinated to claims of creditors during the year ended December 31, 2025. Accordingly, no Statement of Changes in Liabilities Subordinated to Claims of Creditors has been included in these financial statements as required by rule 17a-5 of the Securities and Exchange Commission. #### **NOTE 7: SEGMENT REPORTING** The Firm is engaged in a single line of business as a securities broker-dealer which is comprised of investment banking services described in Note 1. The Firm has identified its Managing Member as the chief operating decision maker ("CODM"), who uses net income to evaluate the results of the business, predominantly in the forecasting process, to manage the Firm. Additionally, the CODM uses excess net capital (see Note 4), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to maintain profits or pay distributions. The Firm's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the Firm as a whole. The accounting policies used to measure the profit and loss of the segment are the same as those described in the policies in Note 1. ### **NOTE 8: COMMITMENTS AND CONTINGENCIES** Management has evaluated possible commitments and contingencies at December 31, 2025. They concluded that there were no commitment or contingencies that would require recognition in the financial statements or disclosure in the related notes to the financial statements. #### **NOTE 9: SUBSEQUENT EVENTS** Management has evaluated subsequent events through the date which the report of the independent registered accounting firm on the financial statements which is the date they were available to be issued. Management has concluded that no subsequent events have occurred that would require recognition or disclosure in the financial statements. {13}------------------------------------------------ **Powder Point Financial, LLC Schedule I: Computation of Net Capital Under SEC Rule 15c3-1 As of December 31, 2025** | COMPUTATION OF NET CAPITAL | | |-------------------------------------------------------------------|----------| | Total Ownership equity from Statement of Financial Condition | \$36,192 | | less nonallowable assets from statement of financial condition | 426 | | Net capital before haircuts on securities positions | \$35,766 | | Haircuts on securities positions | 0 | | NET CAPITAL | \$35,766 | | Aggregate Indebtedness | \$7,000 | | Net Capital Required based on aggregate indebtedness (6-2/3%) | \$467 | | COMPUTATION OF NET CAPITAL REQUIREMENTS | | | Minimum dollar net capital requirement of reporting broker dealer | \$5,000 | | Excess Net Capital | \$30,766 | | COMPUTATION OF AGGREGATE INDEBTEDNESS | | | (A) - 10% of total aggregate indebtedness | \$700 | | (B) - 120% of minimum net capital requirement | \$6,000 | | Net Capital less the greater of (A) or (B) | \$29,766 | | Percentage of Aggregate Indebtedness to Net Capital | 19.57% | ### **FOCUS PART IIA RECONCILIATION BETWEEN AUDITED AND UNAUDITED NET CAPITAL** At December 31, 2025, there were no material differences between audited net capital above and net capital as reported on Part II of the Firm's most recently filed FOCUS report. {14}------------------------------------------------ ![](_page_14_Picture_1.jpeg) The Member of Powder Point Financial, LLC I have reviewed management's statements, included in the accompanying Rule 15c3-3 Exemption Report pursuant to SEC Rule 17a-5, in which (1) Powder Point Financial, LLC, (the Firm) did not claim an exemption under paragraph (k) of 17 C.F.R. §240. 15c3-3, and (2) The Firm is filing this Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 because the Firm limits its business activities exclusively to selling tax shelters or limited partnerships in primary distributions; primary placements of securities; and real estate syndications. In addition, the Firm did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, did not carry accounts of or for customers; and did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception. Powder Point Financial, LLC's management is responsible for compliance with the exemption provisions and its statements. My 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 Firm'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, I do not express such an opinion. Based on my review, I am 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 Firm'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. Thomas Faust, CPA, LLC d/b/a Thomas Faust, CPA Lafayette, Indiana January 19, 2026 {15}------------------------------------------------ Powder Point Financial LLC 61 Ridge Road Marshfield, MA 02050 powderpointfinl@gmail.com 781-264-6045 January 7, 2026 SEC Dear Sir/Madam: Powder Point Financial, LLC 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) Powder Point Financial, LLC does not claim an exemption under paragraph (k) of 17 C.F.R. § 240. 15c3-3, and - (2) Powder Point Financial, LLC is filing this Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 because Powder Point Financial, LLC limits its business activities exclusively to selling tax shelters or limited partnerships in primary distributions; primary placements of securities; and real estate syndications, and the Company (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, (2) did not carry accounts of or for customers; and (3) did not carry PAB accounts (as defined in Rule 15c3-3). Powder Point Financial LLC has met this exemption provision throughout the most recent fiscal year ended December 31, 2025 without exception. I swear that, to my best knowledge and belief, this Exemption Report is true and correct. Very truly yours, mayauie & Kelly Marjorie A. Kelly President Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.