# OPPORTUNE PARTNERS LLC X-17A-5 (2023-02-28) — Broker-dealer annual report - Company: OPPORTUNE PARTNERS LLC - Form: X-17A-5 - Filed: 2023-02-28 - Period: 2022-12-31 - Accession: 0001732892-23-000001 - CIK: 1732892 - File #: 8-70085 - Type: Broker-dealer - Material weakness: No - Auditor: Pennell Kerr Forster of Texas P.C, - Auditor location: Houston, TX - Contact: Daniel Kohl - Phone: 713-237-2525 - Email: dkohl@opportune.com - Website: opportune.com - Signed by: Daniel Kohl (Chief Executive Officer and President) Original filing: https://www.sec.gov/Archives/edgar/data/1732892/000173289223000001/2022opportunepubliceaudit2.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: Oct. 31, 2023 Estimated average burden hours per response: 12 SEC FILE NUMBER** 8-70085 **FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934** 01/01/2022 12/31/2022 FILING FOR THE PERIOD BEGINNING AND ENDING **MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION** NAME OF FIRM: Opportune Partners LLC TYPE OF REGISTRANT (check all applicable boxes): K 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.) 711 Louisiana Street, STE 3100 **(No. and Street)** Houston TX 77002 **(City) (State) (Zip Code)** PERSON TO CONTACT WITH REGARD TO THIS FILING Daniel Kohl 713-237-2525 dkohl@opportune.com **(Name) (Area Code -Telephone Number) (Email Address) B. ACCOUNTANT IDENTIFICATION** INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* Pannell Kerr Forster of Texas P.C. **(Name-if individual, state last, first, and middle name) FOR OFFICIAL USE ONLY** 5847 San Felipe St., STE 2600 Houston TX 77057-3000 **(Address) (City) (State) (Zip Code)** in/1R/2003 342 **(Date of Registration with PCAOB)(if applicable) (PCAOB Registration Number, if applicable) \* 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)(l)(ii), if applicable.** **Persons who are to respond tothe collection of Information contained In this form are notrequired torespond unless the form displays a currently valid OMB control number.** {1}------------------------------------------------ #### **OATH OR AFFIRMATION** I, anie 0 , swear (or affirm) that to the best of my knowledge and belief, the financial report pertaining to the firm of Opportune Partners LLC , as of December 31 z 2 022 ( js true and correct. Ifurther 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. ![](_page_1_Picture_4.jpeg) Signature: Tltle' Chief Executive Officer and President Notary Public #### **This filing\*\* contains (check all applicable boxes):** - K (a) Statement of financial condition. - 29 (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. - (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-l or 17 CFR 240.18a l, as applicable.** - (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 240.18a-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. - (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-l,17 CFR 240.18a-l, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or17 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. - X) (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. - X) (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. - (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-le 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}------------------------------------------------ # OPPORTUNE PARTNERS LLC 2022 AUDITED FINANCIAL STATEMENTS PUBLIC REPORT {3}------------------------------------------------ #### CONTENTS | INDEPENDENT
REPORT
OF
REGISTERED
PUBLIC
ACCOUNTING
FIRM | 1 | |---------------------------------------------------------------------------|-----| | FINANCIAL
STATEMENTS | | | Statement
of
Financial
Condition | 2 | | to
Financial
Statements
Notes | 3-6 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) Pannell Kerr Forster of Texas, p.c. 5847 San Felipe St., Suite 2600 Houston, Texas 77057-3000 Ph: (713) 860-1400 Fax: (713) 355-3909 www.PKFTexas.com ## **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member of Opportune Partners LLC ## **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Opportune Partners LLC (the "Company") as of December 31, 2022, and the related notes (collectively referred to as the "financial statement"). In our opinion, the statement of financial condition presents fairly, in all material respects, the financial position of Opportune Partners LLC as of December 31, 2022 in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** This financial statement is the responsibility of Opportune Partners LLC's management. Our responsibility is to express an opinion on this 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 reguired to be independent with respect to Opportune Partners 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. We conducted our audit in accordance with the standards of the PCAOB. Those standards reguire 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 supporting the amounts and disclosures in the financial statement. 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 statement. We believe that our audit provides a reasonable basis for our opinion. We have served as Opportune Partners LLC's auditor since 2018. Houston, Texas February 27, 2023 *PKF* Member of PKF International Limited, anetwork of legally independent firms. {5}------------------------------------------------ # **OPPORTUNE PARTNERS LLC Statement of Financial Condition December 31, 2022** ### **ASSETS** | Cash | \$
2,183,560 | |----------------------------------------------------|-----------------| | Accounts
receivable | 12,131 | | expenses
Prepaid | 35,292 | | ASSETS
TOTAL | \$
2,230,983 | | AND
MEMBER'S
LIABILITIES
CAPITAL | | | Liabilities | | | Accounts
payable
and
accrued
expenses | \$
3,631 | | party
payable
Related | \$
105,867 | | payable
Bonus | 1,700,000 | | tax
accrual
Franchise | 12,100 | | TOTAL
LIABILITIES | 1,821,598 | | Member's
Capital | 409,385 | | MEMBER'S
TOTAL
AND
LIABILITIES
CAPITAL | \$
2,230,983 | See notes to financial statements. {6}------------------------------------------------ # **Note 1 - Nature of Business and Summary of Significant Accounting Policies** ## Nature of Business: OPPORTUNE PARTNERS LLC, (Company) is a limited liability company organized in the State of Texas in January 2018. The Company is registered as a broker/dealer with the Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corporation (SIPC). Significant Accounting Policies: #### Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of the 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. #### Concentration in Revenue During the year ended December 31, 2022, 88% of the Company's operating revenue came from two customers, and 100% of outstanding accounts receivable were due from one of these customers at December 31, 2022. Due to the nature of the Company's business, it is reasonably possible that the loss of a customer or the default on receivables due from customers could have an adverse effect on the Company's results of operations and financial condition. #### Fair Value of Financial Instruments The Company's financial asset and liability amounts reported in the statement of financial condition are short-term in nature and approximate fair value. #### Income Taxes Taxable income or loss of the Company is included in the income tax returns of the member; therefore, no provision for federal income taxes has been made in the accompanying financial statements. The Company is subject to state income taxes. {7}------------------------------------------------ # **Note 1 - Nature of Business and Summary of Significant Accounting Policies (continued)** ## Revenue Recognition In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606). The ASU and all subsequently issued clarifying ASUs replaced most existing revenue recognition guidance in U.S. GAAP. The ASU also required expanded disclosures relating to the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The Company adopted the new standard effective September 2018. The majority of the Company's revenue arrangements generally consist of a single performance obligation. Consulting fees are substantially reported based on an hourly rate (or other arranged billing schedule) and billed on a monthly basis and recognized in the period of service. Merger and acquisition success fee engagements have initial upfront fees which are earned under the terms of the contract. Any other fees are success based and are recognized at the close of the transaction when considered earned. For the year ended December 31, 2022, two customers represented 87% of the Company's revenues. ## **Note 2 Net Capital Requirements** The Company is subject to the SEC Uniform Net Capital Rule (SEC Rule 15c3-l), which requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. Rule 1 5c3-1 also provides that equity capital may not be withdrawn or cash dividends paid if the resulting net capital ratio would exceed 1 0 to 1. At December 31, 2022, the Company was in compliance with \$1,821,598 of aggregate indebtedness, net capital of \$361,962 with required Net Capital of \$121,440. The Member's net capital ratio was 5 to 1. #### **Note 3 Concentration of Credit Risk** At various times during the year, the Company maintained cash balances at one national bank in excess of federally insured amounts. Cash balances fluctuate on a daily basis. At December 31, 2022, uninsured cash totaled \$1,933,560. {8}------------------------------------------------ ## **Note 4 - Contingencies** There are currently no asserted claims or legal proceedings against the Company, however, the nature of the Company's businesssubjects it to various claims, regulatory examinations, and other proceedings in the ordinary course of business. The ultimate outcome of any such action against the Company could have an adverse impact on the financial condition, results of operations, or cash flows of the Company. ## **Note 5 - Accounts Receivable** Accounts receivable are stated at the amount the Company expects to collect. The Company maintains allowances for credit losses for estimated losses resulting from the inability of its customers to make required payments. Management considers the following factors when determining the collectability of specific customer accounts: customer credit-worthiness, past transaction history with the customer, current economic industry trends, and changes in customer payment terms. Past due balances over 90 days and other higher risk amounts are reviewed individually for collectability. If the financial condition of the Company's customers were to deteriorate, adversely affecting their ability to make payments, additional allowances would be required. Based on management's assessment, the Company provides for estimated uncollectible amounts through a charge to earnings and a credit to a valuation allowance. Balances that remain outstanding after the Company has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable. No valuation allowance was determined to be necessary as of December 31, 2022. # **Note 6 - Transactions with Related Party** Opportune LLP is the parent of the Company's sole member. The Company paid monthly expenses to Opportune LLP through the Office and Administrative Services Agreement based on actual expenses incurred for the year ended December 31, 2022. During the period of January 1, 2022 through December 31, 2022, the Company's member made contributions totaling \$700,000 to the company. At December 31, 2022, there was \$105,867 in related party amounts due to Opportune LLP. {9}------------------------------------------------ ## **Note 7 - Contract Liability** The Company has recorded a \$1,700,000 staff bonus liability based on the employee agreements. ## **Note 8 - Subsequent Events** Management has evaluated the Company's events and transactions that occurred subsequent to December 31, 2022, through February 28, 2023, the date which the financial statements were available to be issued. There were no subsequent events to recognize or disclose. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.