# POLYGON CAPITAL ADVISORS, LLC X-17A-5 (2026-03-03) — Broker-dealer annual report - Company: POLYGON CAPITAL ADVISORS, LLC - Form: X-17A-5 - Filed: 2026-03-03 - Period: 2025-12-31 - Accession: 0001529989-26-000002 - CIK: 1529989 - File #: 8-68965 - Type: Broker-dealer - Material weakness: No - Auditor: NTT & Company, PLLC - Auditor location: Beaumont, TX - Contact: Patricia E. Glovsky - Phone: 4153770155 - Email: pglovsky@polygoncapital.com - Website: polygoncapital.com - Signed by: Patricia E. Glovsky (CEO/Managing Partner) Original filing: https://www.sec.gov/Archives/edgar/data/1529989/000152998926000002/25apub_1.pdf --- {0}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** > **ANNUAL REPORTS FORM X-17A-5 PART** Ill 0MB APPROVAL 0MB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 ## SEC FILE NUMBER 8-68965 | FACING PAGE
Information Required Pursuant to Rules 17a-S, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | | | | | | | | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|--|-----------------------------|-----------------------------------------|--|--|--| | FILING FOR THE PERIOD BEGINNING | 0_1_/0_1 /_2_0_2_5_AND ENDING _1_2_/_3_1_/2_0_2_5 __
__ | | | | | | | | | MM/DD/YY | | | MM/DD/YY | | | | | A. REGISTRANT IDENTIFICATION | | | | | | | | | NAME oF FIRM: Polygon Capital Advisors, LLC | | | | | | | | | TYPE OF REGISTRANT (check all applicable boxes):
O Security-based swap dealer
□ Major security-based swap participant
C!:I Broker-dealer
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.) | | | | | | | | | 15 2nd Street, Suite 9 | | | | | | | | | | (No. and Street) | | | | | | | | Sausalito | CA | | | 94965 | | | | | (City) | (State) | | (Zip Code) | | | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | | | Patricia E. Glovsky | 415-775-3300 | | pglovsky@polygoncapital.com | | | | | | (Name) | (Area Code -Telephone Number)
(Email Address) | | | | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
NTT & Company, PLLC | | | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | | | | | 5865 Mistletoe Dr. | Beaumont | | TX | 77707 | | | | | (Address) | (City) | | (State) | (Zip Code) | | | | | December 31, 2025 | 6543 | | | | | | | | T'" of Reg;stc,Uoo w;th PCAOB){;f appl;rableJ | | | | (PCAOB ReWmat;oo N«mbec, ;r applkableJI | | | | | | FOR OFFICIAL USE ONLY | | | | | | | \* 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.** {1}------------------------------------------------ #### OATH OR AFFIRMATION I, Patricia E. Glovsky swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of Polygon Capital Advisors, LLC as of December 31, 2~, 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. Title: Managing Partner/CEO #### **This filing\*\* contains (check all applicable boxes):** - ' iii (a) Statement of financial condition. - D (b) N1tes 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 comp~ehensive income (as defined in§ 210.1-02 of Regulation S-X). - □ (d) st1tement of cash flows. - □ (e) st! tement of changes in stockholders' or partners' or sole proprietor's equity. - D (f) St~tement of changes in liabilities subordinated to cla ims of creditors. - iii (g) Notes to eenselieateEI financial statements. - D (h) cdmputation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - □ (i) Cor putation of tangible net worth under 17 CFR 240.18a-2. - D (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - D (k) C~mputation 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) c9mputation for Determination of PAB Requirements under Exhibit A to§ 240.15c3-3. - D (m) ltormation 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 240.1Fc3-3(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 wortti 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 2~0.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist. I .. - D (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - Ii] (q) o Jth or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. - D (r) cofnpliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - □ (s) Exf mption 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. - D (u) lntlependent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 2f 0.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - D (v) ln~ependent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 2~0.17a-5 or 17 CFR 240.18a-7, as applicable. - D (w) lnldependent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 2f 0.18a-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 aprlicable. . - □ (y) Report describing any material inadequacies found to exist or found to have existed since the date of the previous audit, or a statbment 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}------------------------------------------------ # **CALIFORNIA ACKNOWLEDGMENT CIVIL CODE § 1189 ~~~~~~~Offl:fflU~l!t~~** A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. | State of Californial | | |---------------------------------------------------|--| | County of | | | Nolory
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Date | | | Patnera E Glousk
personally appeared | | | Name(s) of Signer(s) | | | | | who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. ![](_page_2_Picture_5.jpeg) I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Place Notary Seal and/or Stamp Above **OPTIONAL** | | , A
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□ Partner - | ©2019 National Notary Association {3}------------------------------------------------ Polygon Capital Advisors, LLC Financial Statements Required by the U.S. Securities and Exchange Commission For the Year Ended December 31, 2025 {4}------------------------------------------------ | Financial Statements 3 | | |--------------------------------------------------------------------------|--| | Statement of Financial Condition for the year ended December 31, 2025 3 | | | Footnotes to Financial Statements 4 | | {5}------------------------------------------------ #### **Polygon Capital Advisors, LLC Financial Statements Statement of Financial Condition For the year ended December 31, 2025** #### **ASSETS** | Assets | | |-------------------------------------|--------------| | Current Assets | | | Cash | \$
10,870 | | Other Assets | | | Prepaid Expenses | 0 | | Total Assets | \$
10,870 | | LIABILITIES & MEMBERS' EQUITY | | | Liabilities | | | Current Liabilities | | | Accounts Payable | \$
2,381 | | Total Liabilities | 2,381 | | Members' Equity | | | Total Members' Equity | 8,489 | | Total Liabilities & Members' Equity | \$
10,870 | The accompanying notes are an integral part of these financial statements. {6}------------------------------------------------ ### **Polygon Capital Advisors, LLC Footnotes to Financial Statements For the year ended December 31, 2025** #### **Note 1- Organization and Nature of Business** Polygon Capital Advisors, LLC ("Company"), a Delaware Limited Liability Company, was formed in April 2009. The company is wholly owned by Polygon Capital, LLC ("Parent"). The Company specializes in Mergers and Acquisitions and Private Placements and is a member of the Financial Industry Regulatory Authority ("FINRA"). It maintains its main branch office in the state of California. The Company is engaged in the business as a securities broker/dealer, which comprises several classes of services, including: - Mergers and acquisitions related services, strategic planning and valuation services; and - Private placements of securities. #### **Note 2 - Significant Accounting Policies** The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America ("US GAAP"). #### Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles 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. #### Revenue Recognition The financial statements are prepared on the accrual basis of accounting. Investment banking fees are contingent on, and are recognized upon, the successful completion of a project. However, progress fees are recognized when and if earned. Investment banking fees are generated from services related to a limited number of transactions. Due to the nature of the Company's business, the size of any one transaction may be significant to the Company's operations for the period. The Company adopted ASU 2014-09, Revenue from Contracts with Customers, (codified in ASC 606). The Company recognizes revenue when services are transferred to clients. Revenue is recognized based on the amount of consideration that management expects to receive in exchange for these services in accordance with the terms of the contract with the client. To determine the amount and timing of revenue recognition, the Company must (1) identify the contract with the client, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when the Company satisfies a performance obligation. {7}------------------------------------------------ ### **Polygon Capital Advisors, LLC Footnotes to Financial Statements For the year ended December 31, 2025** #### **{Continued)** #### **Note 3 - Commitments and Contingencies** The Company does not have any commitments, guarantees or contingencies that may result in a loss or future obligation, or that may be asserted against the firm at a future date. #### **Note 4 - Concentration of Credit Risk** The Company's cash balance, maintained at a financial institution, may at times be in excess of the amount insured by the Federal Deposit Insurance Corporation. Management regularly monitors the financial condition of the institution in order to keep the potential risk to a minimum. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.