# AVENDUS CAPITAL, INC. X-17A-5 (2023-06-30) — Broker-dealer annual report

- Company: AVENDUS CAPITAL, INC.
- Form: X-17A-5
- Filed: 2023-06-30
- Period: 2023-03-31
- Accession: 0001461556-23-000001
- CIK: 1461556
- File #: 8-68226
- Type: Broker-dealer
- Material weakness: No
- Auditor: Meisel, Tuteur & Lewis, P.C.
- Auditor location: Roseland, NJ
- Contact: Puneet Shivam
- Phone: 646-707-0789
- Email: puneet.shivam@avendus.com
- Website: avendus.com
- Signed by: Puneet Shivam (Executive Director)

Original filing: https://www.sec.gov/Archives/edgar/data/1461556/000146155623000001/AvendusPublic23.pdf

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# AVENDUS CAPITAL INC.

# STATEMENT OF FINANCIAL CONDITION REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

# Filed Pursuant to Rule 17a-5(E)(3) Under the Securities Exchange Act of 1934 as a public document

March 31, 2023

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**UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ANNUAL REPORTS FORM X-17A-5 PART** Ill **FACING PAGE**  0MB APPROVAL 0MB Number: 3235-0123 Expires: Oct. 31, 2023 Estimated average burden hours per response: 12 SEC Fl LE NUMBER 8-68226 **Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934**  FILING FOR THE PERIOD BEGINNING \_\_ 0\_4\_/\_0\_1 /\_2\_2 \_\_\_ \_ AND ENDING \_\_ 0\_3/\_3\_)/\_2\_3 \_\_\_ \_ MM/00/YY MM/0D/YY **A. REGISTRANT IDENTIFICATION**  NAME OF FIRM: Avendus Capital Inc. TYPE OF REGISTRANT (check all applicable boxes): !Kl Broker-dealer D Security-based swap dealer □ Major security-based swap participant D Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) 455 Park Avenue, 19th Floor (No. and Street) New York NY (Clty) (State) PERSON TO CONTACT WITH REGARD TO THIS FILING 10022 (Zip Code] Puneet Shivam 646-707-0789 puneet.shivam@avendus.com (Name) (Area Code-Telephone Number) (Email Address) **B. ACCOUNTANT IDENTIFICATION**  INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing"' Meisel, Tuteur & Lewis, P.C. (Name - if individual, state last, first, and middle name) 101 Eisenhower Parkway Roseland NJ (Address) (City) {State) 09/29/2009 3861 07068 {Zip Code) **FOR OFFICIAL USE ONL V l" of R,gistratioa wi<h PC,UJB)(tt** [PCAOB Registratioa N,mbec, if a,pliQbleJ I **appli~bleJ**  \* 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-S(e)(l)(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.

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#### **OATH OR AFFIRMATION**

| Puneet Shivam<br>1,                        | swear (or affirm) that, to the best of my knowledge and belief, the |         |
|--------------------------------------------|---------------------------------------------------------------------|---------|
| financial report pertaining to the firm of | Avendus Capital Inc.                                                | , as of |

March 31 2 023 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 cl sified solely as that of a customer.

MARY JOYCE MARTINEZ Notary Public • State of New York NO. 01MA6264166 0nlil\_led\_ in Richmond J; u My Comm1ss1on Expires *6/J,* 

| Signature: |  |
|------------|--|
|            |  |

Notary Public

#### This **filing\*\* contains (check all**

- IXl (a) Statement of financial condition.
- !XI (b) Notes to consolidated statement of financial condition.
- D (cl 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 (dl Statement of cash flows.
- D (e) Statement of changes in stockholders' or partners' or sole proprietor's equity.
- □ (fl Statement of changes in liabilities subordinated to claims of creditors.
- D (gl Notes to consolidated financial statements.
- D (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-l, as applicable.
- D (i) Computation of tangible net worth under 17 CFR 240.18a-2.
- D U) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3.
- D (kl 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.
- D (I) Computation for Determination of PAB Requirements under Exhibit A to§ 240.15c3-3.
- D (ml Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3.
- 0 (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 240.15c3-1, 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 CFA 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.
- D (rl Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- 0 (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- l&I (t) Independent public accountant's report based on an examination of the statement of financial condition.
- 0 (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.
- D (v) Independent public accountant'~ 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.
- D (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.1Sc3-1e 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). <sup>D</sup>(zl Other: \_ \_ \_\_\_\_\_\_\_\_\_\_\_\_ \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_\_\_\_ \_
- 

*<sup>\*&</sup>quot;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 applicob/e.* 

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# TABLE OF CONTENTS

|                                                         | Page No. |  |
|---------------------------------------------------------|----------|--|
| REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM |          |  |
| FINANCIAL STATEMENT                                     |          |  |
| Statement of Financial Condition                        | 2        |  |
| Notes to Financial Statement                            | 3 - 7    |  |

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![](_page_4_Picture_0.jpeg)

Certified Public Accountants Management Co n sult ants

## REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders of Avendus Capital Inc.

### **Opinion on the Financial Statement**

We have audited the accompanying statement of financial condition of Avendus Capital Inc. (the "Company") as of March 31, 2023, 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 Avendus Capital Inc. as of March 31, 2023 in conformity with accounting principles generally accepted in the United States of America.

### **Basis for Opinion**

This financial statement is the responsibility of Avendus Capital lnc.'s management. Our responsibility is to express an opinion on Avendus Capital Inc.'s financial statement based on our audit. We are a public accounting finn registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to A vend us Capital 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 misstatement, 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 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.

We have served as Avendus Capital lnc.'s auditor since 2023.

Roseland, New Jersey June 30, 2023

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# AVENDUS CAPITAL INC. STATEMENT OF FINANCIAL CONDITION MARCH 31, 2023

| ASSETS                                                                   |   |           |
|--------------------------------------------------------------------------|---|-----------|
| Cash                                                                     | S | 2,313,767 |
| Accounts receivable                                                      |   | 441,750   |
| Due from affiliates                                                      |   | 3,288,120 |
| Prepaid expenses                                                         |   | 49,241    |
| Prepaid income taxes                                                     |   | 70,125    |
| Deferred tax asset                                                       |   | 213,674   |
| Security deposits                                                        |   | 169,460   |
| Right-of-use asset                                                       |   | 864,854   |
| Total Assets                                                             | S | 7,410,991 |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                     |   |           |
| Liabilities                                                              |   |           |
| Accounts payable and accrued expenses                                    | S | 347,774   |
| Accrued bonuses                                                          |   | 1,298,000 |
| Income taxes payable                                                     |   | 16,758    |
| Lease liability                                                          |   | 863,635   |
| Total Liabilities                                                        |   | 2,526,167 |
| Stockholders' Equity                                                     |   |           |
| Common stock -1 million shares authorized, \$0.01 par value              |   |           |
| Class A 41,000 shares authorized, issued and outstanding                 |   | 410       |
| Class B 959,000 shares authorized, 698,000 shares issued and outstanding |   | 6,980     |
| Additional paid-in-capital                                               |   | 1,595,410 |
| Retained earnings                                                        |   | 3,282,024 |
| Total Stockholders' Equity                                               |   | 4,884,824 |
| Total Liabilities and Stockholders' Equity                               | S | 7,410,991 |

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| <br>,1->?1:05:3"->/4         |      |
|------------------------------|------|
| <br>                         | <br> |
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| <br>                         |      |
|                              | <br> |
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| !1??59<A@105:@1>1?@<br>      | <br> |
| #1@85-.585@E-?;2"->/4        |      |
|                              |      |

| <br>+1534@10-B1>-31>19-5:5:381-?1@1>9<br><br> | <br>E1->? |
|-----------------------------------------------|-----------|
| <br>+1534@10-B1>-3105?/;A:@>-@1<br><br><br>   | <br>      |

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