# MENKE CAPITAL CORPORATION X-17A-5 (2024-10-15) — Broker-dealer annual report - Company: MENKE CAPITAL CORPORATION - Form: X-17A-5 - Filed: 2024-10-15 - Period: 2024-08-31 - Accession: 0001736877-24-000001 - CIK: 1736877 - File #: 8-70105 - Type: Broker-dealer - Material weakness: No - Auditor: Spicer Jeffries LLP - Auditor location: Denver, CO - Contact: Tad Bull - Phone: 917.923.9649 - Email: tad.bull@rubiconconsultinggroup.com - Website: rubiconconsultinggroup.com - Signed by: Trevor Gilmore (Chief Financial Officer) Original filing: https://www.sec.gov/Archives/edgar/data/1736877/000173687724000001/24prmcc.pdf --- {0}------------------------------------------------ # BAINBRIDGE CAPITAL SECURITIES, INC. (FORMERLY MENKE CAPITAL CORPORATION) STATEMENT OF FINANCIAL CONDITION AUGUST 31, 2024 ### PUBLIC DOCUMENT This report is filed in accordance with Rule 17A-5(e) (3) under the Securities Exchange Act of 1934 as a public document. {1}------------------------------------------------ #### UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 # ANNUAL REPORTS FORM X-17A-5 PART III sec file number 8-70357 | Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | FACING PAGE | | | | | | |--------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------|---------|--------------------------------------------|--|--|--| | FILING FOR THE PERIOD BEGINNING 09/01/2023
08/31/2024 | | | | | | | | | MM/DD/YY | | MM/DD/YY | | | | | A. REGISTRANT IDENTIFICATION | | | | | | | | NAME OF FIRM: Bainbridge Capital Securities, Inc. (Formerly Menke Capital Corporation) | | | | | | | | TYPE OF REGISTRANT (check all applicable boxes):
■ Broker-dealer
□ Check here if respondent is also an OTC derivatives dealer | | | | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | | | | 4435 Eastgate Mall, Suite 130 | | | | | | | | | (No. and Street) | | | | | | | San Diego | CA | | 92121 | | | | | (City) | (State) | | (Zip Code) | | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | | Tad Bull | 917.923.9649 | | tad.bull@rubiconconsultinggroup.com | | | | | (Name) | (Area Code - Telephone Number)
(Email Address) | | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
Spicer Jeffries LLP | | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | | | | 4601 DTC Boulevard, Suite 700 Denver | | CO | 80237 | | | | | (Address) | (City) | (State) | (Zip Code) | | | | | 10-20-2003 | | 349 | | | | | | (Date of Registration with PCAOB)(if applicable) | FOR OFFICIAL USE ONLY | | (PCAOB Registration Number, if applicable) | | | | | | | | | | | | Claims for exemption from the requirement that the annual 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 form are not required to respond unless the form displays a currently valid OMB control number. {2}------------------------------------------------ #### OATH OR AFFIRMATION | | Trevor Gilmore | |--|----------------| | | | swear (or affirm) that, to the best of my knowledge and belief, the Chief Financial Officer Title: financial report pertaining to the firm of Bainbridge Capital Securities, Inc. (Formerly Menke Capital Corporation) August 31 , 2 04 partner, officer, director, or equivalent person, as the case may proprietary interest in any account classified solely as that of a customer. State of Texas County of Montgomery Moniques R. Magor Sworn to and subscribed before me on 10/12/2024 by Trevor James Gilmore ![](_page_2_Figure_7.jpeg) | Signature: | I revor James Lilmare | | |------------|-----------------------|--| | | | | Electronically signed and notarized online using the Proof platform. ### 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 of graadeting follarized online using the Proof platform. - □ (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 240.15c3-1 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 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 capible net worth under 17 CFR 240.15c3-1, 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. - □ (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 240.18a-7, as applicable. - | - □ (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - | - □ (u) Independent public accountant's report based on an examination of the 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. - | as applicable. - \_ (y) Report describing any material inadequacies 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)(2), as applicable. {3}------------------------------------------------ ![](_page_3_Picture_0.jpeg) !"#\$%&'()\*#+%, %-&%(. "\$"('"/01, %\$%23"-%45116,718979 :';45116,71811/ <<<=>?@ABCDBEEC@B>=AFG # KefgfhghgijkMfglgmflnRilikokgip qBZ[rB[a\@YB\YZB[AAFG?[]b@]`>Y[YBGB]YFEE@][]A@[^AF]\@Y@F]FE![@]\_C@\`B [?@Y[^ \*BAaC@Y@B>.+]A=5YZBs FG?[]bt6[>FE'a`a>Y1.00.[]\YZBCB^[YB\]FYB>YFYZB>Y[YBGB]YFE E@][]A@[^AF]\@Y@F]=+]FaCF?@]@F].YZB>Y[YBGB]YFEE@][]A@[^AF]\@Y@F]?CB>B]Y>E[@C^b.@][^^ HIJKHLKMNOPIJIOPIOLHIQNRLIHIPJSTUNVWVVKSOLNOQMNHX FYZB!F[C\FE@CBAYFC>[]\\*Z[CBZF^\BCFE ![@]\_C@\`B [?@Y[^\*BAaC@Y@B>.+]A=5:FCGBC^bcB]dB [?@Y[^ FC?FC[Y@F]6 G[YBC@[^CB>?BAY>.YZBE@][]A@[^?F>@Y@F]FEYZB FG?[]b[>FE'a`a>Y1.00.@]AF]EFCG@Yb<@YZ [AAFa]Y@]`?C@]A@?^B>`B]BC[^^b[AAB?YB\@]YZB#]@YB\\*Y[YB>FE'GBC@A[= TlpfpuhvKefgfhg Z@>E@][]A@[^>Y[YBGB]Y@>YZBCB>?F]>@\_@^@YbFEYZB FG?[]bw>G[][`BGB]Y="aCCB>?F]>@\_@^@Yb@> YFBx?CB>>[]F?@]@F]F]YZB FG?[]bw>E@][]A@[^>Y[YBGB]Y\_[>B\F]FaC[a\@Y=qB[CB[?a\_^@A [AAFa]Y@]`E@CGCB`@>YBCB\<@YZYZB2a\_^@A FG?[]b'AAFa]Y@]`"rBC>@`ZY!F[C\5#]@YB\\*Y[YB>6 52 '"!6[]\[CBCBya@CB\YF\_B@]\B?B]\B]Y<@YZCB>?BAYYFYZB FG?[]b@][AAFC\[]AB<@YZYZB #=\*=EB\BC[^>BAaC@Y@B>^[<>[]\YZB[??^@A[\_^BCa^B>[]\CB`a^[Y@F]>FEYZB\*BAaC@Y@B>[]\%xAZ[]`B FGG@>>@F][]\YZB2 '"!= qBAF]\aAYB\FaC[a\@Y@][AAFC\[]AB<@YZYZB>Y[]\[C\>FEYZB2 '"!=ZF>B>Y[]\[C\>CBya@CB YZ[YF][\_^B[>>aC[]AB[\_FaYY[YBGB]Y@>ECBBFEG[YBC@[^G@>>Y[YBGB]Y.YF[>>B>>YZBC@>d>FEG[YBC@[^G@>>Y[YBGB]YFEYZBE@][]A@[^>Y[YBGB]Y. YZ[YCB>?F]\YFYZF>BC@>d>=\*aAZ ?CFAB\aCB>@]A^a\B\Bx[G@]@]`.F][YB>Y\_[>@>.Br@\B]ABCB`[C\@]`YZB[GFa]Y>[]\\@>A^F>aCB>@] YZBE@][]A@[^>Y[YBGB]Y="aC[a\@Y[^>F@]A^a\B\Br[^a[Y@]`YZB[AAFa]Y@]`?C@]A@?^B>a>B\[]\ >@`]@E@A[]YB>Y@G[YB>G[\B\_bG[][`BGB]Y.[>Br[^a[Y@]`YZBFrBC[^^?CB>B]Y[Y@F]FEYZB E@][]A@[^>Y[YBGB]Y=qB\_B^@BrBYZ[YFaC[a\@Y?CFr@\B>[CB[>F][\_^B\_[>@>EFCFaCF?@]@F]= qBZ[rB>BCrB\[>YZB FG?[]bw>[a\@YFC>@]AB00= B]rBC. F^FC[\F \*B?YBG\_BC1.00 ![](_page_3_Picture_12.jpeg) {4}------------------------------------------------ ### Bainbridge Capital Securities, Inc. (Formerly Menke Capital Corporation) STATEMENT OF FINANCIAL CONDITION August 31, 2024 ### ASSETS | Cash
Prepaid Expenses and Other Assets | | 15,900
452 | |---------------------------------------------------------------------------------------------------------------------------------------------------------|------|----------------------| | TOTAL ASSETS | S | 16,352 | | LIABILITIES AND SHAREHOLDER'S EQUITY | | | | Liabilities: | | | | Accounts Payable and Accrued Expenses | ಲ್ಲಿ | 300 | | TOTAL LIABILTITIES | S | 300 | | Commitment & Contingencies (Note 5) | | | | Shareholder's Equity: | | | | Common Stock - no par value: 100,000
shares authorized, 0 shares issued and outstanding
Additional Paid-in Capital
Retained Earnings (Deficit) | | 281,637
(265,585) | | Total Shareholder's Equity | | 16,052 | | TOTAL LIABILITIES & SHAREHOLDER'S EQUITY | S | 16,352 | See accompanying notes to statement of financial condition. {5}------------------------------------------------ Bainbridge Capital Securities, Inc. (Formerly Menke Capital Corporation) Notes to Statement of Financial Condition August 31. 2024 ### 1. ### Description of Business Menke Capital Corporation (the "Company") was incorporated on April 2, 2018 in the State of California. In September 2019, the Company registered with the Securities and Exchange Commission ("SEC") as a fully disclosed securities broker-dealer pursuant to Section 15 (b) of the Securities Exchange Act of 1934. In May 2020, the Company became a member of the Financial Industry Regulatory Authority, Inc. ("FINRA"). The Company is subject to various governmental rules and regulations including the Net Capital Rule set forth in Rule 15c3-1 of the Securities Exchange Act of 1934. The Company is a wholly-owned subsidiary of The Menke Group, Inc. (the "Parent"). The Company's primary business consists of providing investment banking and buy and sell side M&A services related to the structuring and financing of ESOP buyout transactions. On April 1, 2023, the Parent signed a Stock Purchase Agreement with Bainbridge Securities Holdings, Inc. ("Bainbridge") to sell 100% of the shares of common stock of the Company to Bainbridge. The Company received approval from the regulatory authorities to transfer ownership on July 5, 2024 and subsequently changed its name to Bainbridge Capital Securities, Inc. ### Cash Cash consists of cash in deposit accounts that the Company maintains at one institution, which at times may exceed federally insured limits. Accounts at the institution are insured by the Federal Deposit Insurance Corporation ("FDIC") up to \$250,000. The Company has not experienced any losses in such accounts. At August 31, 2024, the Company's cash balance did not exceed the FDIC insured limit. ### Basis of Presentation The financial statements of the company have been prepared using accounting principles generally accepted in the United States of America ("U.S. GAAP"). ### Revenue from Contracts with Customers In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Codification 606, Revenue from Contracts with Customers ("ASC 606"). The new accounting standard, along with its related amendments, replaces the current rules-based GAAP governing revenue recognition with a principles-based approach. {6}------------------------------------------------ Bainbridge Capital Securities, Inc. (Formerly Menke Capital Corporation) Notes to Statement of Financial Condition August 31, 2024 ### 1. Organization and Summary of Significant Accounting Policies (continued) ### Revenue from Contracts with Customers (continued) Revenue from contracts with customers is recognized when, or as, the Company satisfies its performance obligations by transferring the promised services to the customers. A service is transferred to a customer when, or as, the customer obtains control of that service. A performance obligation may be satisfied over time or at a point in time. Revenue from a performance obligation satisfied over time is recognized by measuring progress in satisfying the performance obligation in a manner that depicts the transfer of the services to the customer. Revenue from a performance obligation satisfied at a point in time is recognized when it is determined the customer obtains control over the promised service. The amount of revenue recognized reflects the consideration the Company expects to be entitled to in exchange for those promised services (i.e. the "transaction price"). In determining the transaction price, the Company considers multiple factors, including the effects of variable consideration. Variable consideration is included in the transaction price only to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainties with respect to the amount are resolved. In determining when to include variable consideration in the transaction price, the Company considers the range of possible outcomes, the predictive values of past experiences, the time period of when uncertainties expect to be resolved and the amount of consideration that is susceptible to factors outside of the Company's influence, such as market volatility or the judgment and actions of third parties. During the year ended August 31, 2024, the Company did not generate any revenue and did not have any contracts with customers. ### Contract Balances Income is recognized upon completion of the related performance obligation and when an unconditional right to payment exists. The timing of revenue recognition may differ from the timing of customer payments. Fees received prior to the completion of the performance obligation are recorded as deferred revenue on the statement of financial condition until such time when the performance obligation is met. ### Contract Costs Direct incremental costs to obtain a contract or fulfill a contract are evaluated under the criteria for capitalization on a contract by contract basis. There were no capitalized contract costs at August 31, 2024. {7}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`ab cdefbdg hdbfi jd\_ :KLMJ -\* L: #### k l.-.A0-.\*5 O5 -2) 5\*4/07 6\*@4() \*+ I@(.5)((D -2) G\*/305C /0C I) 0 304-C -\* 7.-.A0-.\*5 058 4)A@70-\*4C /0--)4(: =( \*+ =@A@(-\LD JKJ\D -2) G\*/305C 90( 5\*-.5V\*7V)8 .5 05C 7.-.A0-.\*5: {8}------------------------------------------------ Bainbridge Capital Securities, Inc. (Formerly Menke Capital Corporation) Notes to Statement of Financial Condition August 31, 2024 ### 6. Operating Losses and Capital Contributions The Company has generated no revenues and has recurring losses from operations. The Parent contributes capital, as necessary, so that the Company can meet its financial obligations. The Parent has currently evaluated the Company's ability to meet its obligations and has assessed that the Company will have sufficient cash to meet its obligations over the next year. #### 7. Commitments and Contingencies The Company does not have any commitments, guarantees or contingencies, including arbitration or other litigation claims that may result in a loss or a future obligation. The Company is not aware of any threats or other circumstances that may lead to the assertion of a claim at a future date. #### 8. Subsequent Events The Company has performed an evaluation of subsequent events through the date the financial statements were issued. The evaluation did not result in any subsequent events that required disclosures and/or adjustments. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.