# BRIDGE ALTERNATIVES SECURITIES, LLC. X-17A-5 (2026-04-03) — Broker-dealer annual report - Company: BRIDGE ALTERNATIVES SECURITIES, LLC. - Form: X-17A-5 - Filed: 2026-04-03 - Period: 2024-12-31 - Accession: 0001753302-26-000002 - CIK: 1753302 - File #: 8-70213 - Type: Broker-dealer - Material weakness: No - Auditor: Goldman & Company CPA, P.C. - Auditor location: Marietta, GA - Contact: Ryan Duncan - Phone: 773.446.5676 - Email: ryan.duncan@bridgealternatives.com - Website: bridgealternatives.com - Signed by: Ryan Duncan (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1753302/000175330226000002/annualauditprivate.pdf --- {0}------------------------------------------------ | | UNITED STATES | | OMB APPROVAL | | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------|-------------------------------------------------|--------------------------------------------|--| | SECURITIES AND EXCHANGE COMMISSION | | OMB Number: 3235-0123
Expires: Nov. 30, 2026 | | | | Washington, D.C. 20549 | | | Estimated average burden | | | | ANNUAL REPORTS | | hours per response: 12 | | | | FORM X-17A-5 | | SEC FILE NUMBER | | | | PART III | | 8-70213 | | | | | | | | | | 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 01/01/2024 | | | | | | | | | | | | | MM/DD/YY | | MM/DD/YY | | | | A. REGISTRANT IDENTIFICATION | | | | | | NAME OF FIRM: BRIDGE ALTERNATIVE SECURITIES, LLC. | | | | | | | | | | | TYPE OF REGISTRANT (check all applicable boxes): | | | | | | Check here if respondent is also an OTC derivatives dealer | @ Broker-dealer | | | | | | | | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | | 207 E. WESTMINSTER AVE. SUITE 210 | | | | | | | | | | | | (No. and Street) | | | | | LAKE FORFST | ILINOIS | | 60045 | | | (City) | (State) | | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | RYAN DUNCAN | 773.446.5676 | | RYAN.DUNCAN@BRIDGEALTERNATIVES.COM | | | (Name) | (Area Code - Telephone Number) | | (Email Address) | | | | | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | | | | | | | | | GOLDMAN & COMPANY CPAs | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | 3535 ROSWELL RD #32 | MARIETTA | GA | 30062 | | | (Address) | (City) | (State) | (Zip Code) | | | 06/29/2009 | | 1952 | | | | (Date of Registration with PCAOB)(if applicable) | | | (PCAOB Registration Number, if applicable) | | | | FOR OFFICIAL USE ONLY | | | | | | | | | | | | * 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. | | | | | | | | | | | | | | | | | | | | | | | {1}------------------------------------------------ | | RYAN DUNCAN | | | | swear (or affirm) that, to the best of my knowledge and belief, the | | |-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------|--------|------------|---------------------------------------------------------------------|---------| | | financial report pertaining to the firm of BRIDGE ALTERNATIVE SECURITIES, LLC | | | | | , as of | | 12/31 | | 2 024 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. | | | | | | | | | | | Signature: | | | | | Sapt For Mals, | | Title: | | | TAPY | | | Notary Public | | | | "OFFICIAL SEAL" | | | | | | | | CAROLINE HAUPT FURTH | | | | This filing ** contains (check all applicable boxes): | | | | Notary Public, State Of Illinois
Commission No. 571100 | | | n | (a) Statement of financial condition. | | | | My Commission Expires December 26, 2026 | | | | (b) Notes to consolidated statement of financial condition. | | | | | | | u | (b) 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 | | | | | | - - - - - - - - - - - - - - - - - - - - - - {2}------------------------------------------------ #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member of Bridge Alternatives Securities, LLC #### **Opinion on the Financial Statements** We have audited the accompanying statement of financial condition of Bridge Alternatives Securities, LLC as of December 31, 2024, the related statements of operations, changes in member's equity and cash flows for the year then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of Bridge Alternatives Securities, LLC as of December 31, 2024, 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 Bridge Alternatives Securities, LLC 's management. Our responsibility is to express an opinion on Bridge Alternatives Securities, LLC's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the company 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 statements are 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 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. 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. #### **Auditor's Report on Supplemental Information** The Schedule's I- Computation of Net Capital Under SEC Rule 15c3-1, Schedule II-Computation for Determination of Reserve Requirements Pursuant to SEC Rule 15c3-3 (exemption) and Schedule III Information Relating to Possession or Control Requirements Pursuant to SEC Rule 15c3-3 (exemption) have been subjected to audit procedures performed in conjunction with the audit of Bridge Alternatives Securities, LLC 's financial statements. The supplemental information is the responsibility of Bridge Alternatives Securities, LLC 's management. Our 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 our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with 17 C.F.R. §240.17a-5. In our opinion, the schedule's I, II. and III are fairly stated, in all material respects, in relation to the financial statements as a whole. We have served as the Company's auditor since 2023. Goldman & Company, CPA's, P.C. Marietta, Georgia March 26, 2025 {3}------------------------------------------------ # **BRIDGE ALTERNATIVES SECURITIES, LLC FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES** **For the Year Ended December 31, 2024** **(With Report of Independent Registered Public Accounting Firm Thereon)** **(These financial statements and schedule(s) should be deemed confidential pursuant to subparagraph (e)(3) of SEC Rule 17a-5.)** {4}------------------------------------------------ # **BRIDGE ALTERNATIVES SECURITIES, LLC Table of Contents For the Year Ended December 31, 2024** | REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 1 | |----------------------------------------------------------------------------------------------------------------------------------------------------------------| | FINANCIAL STATEMENTS | | Statement of Financial Condition 2
Statement of Operations 3
Statement of Changes in Member's Equity 4
Statement of Cash Flows 5 | | NOTES TO THE FINANCIAL STATEMENTS 6 | | SUPPLEMENTAL SCHEDULES | | Schedule I: Computation of Net Capital under Rule 15c3-1 of the Securities and
Exchange Act of 1934 11 | | Schedule II: Computation for Determination of Reserve Requirements for Brokers
and Dealers Pursuant to Rule 15c3-3 under the Securities and Exchange
Act | | of 1934 12 | | Schedule III: Information Relating to the Possession or Control Requirements under the
Securities and Exchange Commission Rule 15c3-3 13 | | REPORTS ON BROKER DEALER EXEMPTION…………………….………………
14 | {5}------------------------------------------------ # **BRIDGE ALTERNATIVES SECURITIES, LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2024** | ASSETS | | |----------------------------------------------------------|--------------| | Cash and Cash Equivalents | \$
64,790 | | TOTAL ASSETS | \$
64,790 | | LIABILITIES AND MEMBERS' EQUITY | | | LIABILITIES | | | Accounts Payable, accrued expenses and other liabilities | 23,181 | | TOTAL LIABILITIES | 23,181 | | MEMBERS'S EQUITY | 41,609 | | TOTAL LIABILITIES AND MEMBERS' EQUITY | \$
64,790 | {6}------------------------------------------------ # **BRIDGE ALTERNATIVES SECURITIES, LLC STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 2024** | REVENUE | | |---------|--| | | | | Referral Fees | \$
2,532,506 | |-------------------------------------|-----------------| | Commission Share | 29,279 | | Interest Income | 992 | | Total Revenue | 2,562,777 | | | | | EXPENSES | | | Compensation and Payroll Expenses | 2,546,302 | | Professional Service Fees | 23,495 | | Regulatory Fees | 6,239 | | Technology, Data and Communications | 12,711 | | Occupancy and Utilities | 13,408 | | Total Expenses | \$
2,602,155 | | NET LOSS | \$
(39,378) | The accompanying notes are an integral part of these financial statements. {7}------------------------------------------------ # **BRIDGE ALTERNATIVES SECURITIES, LLC STATEMENT OF CHANGES IN MEMBER'S EQUITY FOR THE YEAR ENDED DECEMBER 31, 2024** | BALANCE
AT
DECEMBER
30,
2023 | \$
80,987 | |------------------------------------------|--------------| | Net
Loss | (39,378) | | BALANCE
AT
DECEMBER
31,
2024 | \$
41,609 | | | | The accompanying notes are an integral part of these financial statements. {8}------------------------------------------------ # **BRIDGE ALTERNATIVES SECURITIES, LLC STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2024** | CASH
FLOWS
FROM
OPERATING
ACTIVITIES | | |-------------------------------------------------------------------------------------------------------------------|----------------| | Net
Loss | \$
(39,378) | | Adjustments
to
reconcile
net
income
to
net
cash
provided
by
operating
activities | | | Accounts
receivables | 0 | | Prepaid
deposits
and
expenses | 58 | | Due
to
BAI | 20,260 | | Accounts
payable,
accrued
expenses
and
other
liabilities | (4,900) | | Commissions Payable | (
51,880) | | Net cash used in operating
activities | (75,840) | | DECREASE IN CASH | (75,840) | | CASH
AND
CASH
EQUIVALENTS
AT
BEGINNING
OF
YEAR | 140,630 | | CASH
AND CASH EQUIVALENTS BALANCE
AT
END
OF
YEAR | \$
64,790 | The accompanying notes are an integral part of these financial statements. {9}------------------------------------------------ #### **1. Organization and Nature of Business** Bridge Alternatives Securities, LLC (Company), is a securities broker-dealer registered with the Securities and Exchange Commission (SEC), a member of the Financial Industry Regulatory Authority (FINRA), and a member of the Securities Investor Protection Corporation (SIPC). The Company is an Illinois Limited Liability Company (LLC). The member is not personally liable for the liabilities of the Company. The Company is a wholly owned subsidiary of Bridge Alternatives Holdings, Inc. (the "Parent" and sole member). The Company operates as a placement agent specializing in private placements of securities and financial advisory services. #### **2. Significant Accounting and Reporting** #### **Policies Basis of Presentation** The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States (GAAP) as determined by the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC). The Company is evaluating new accounting standards and will implement as required. #### **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 and 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. #### **Cash and Cash Equivalents** The Company maintains its cash in bank deposit accounts which, at times, may exceed federally insured limits. The Company monitors these bank accounts and does not expect to incur any losses from such accounts. The Company has defined cash and cash equivalents as highly liquid investments with original maturities of less than 90 days that are not heldfor-sale in the ordinary course of business. The recorded value of such instruments approximates their fair value. On December 31, 2024, the Company had no cash equivalents. #### **Revenue** The Company recognizes *Revenue from Contracts with Customers* in accordance with (ASC 606). This revenue recognition guidance requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. {10}------------------------------------------------ Additionally, the guidance requires the Company to follow a five-step model to a) identify the contract with a customer, b) identify the performance obligations in the contract, c) determine the transaction price, d) allocate the transaction price to the performance obligations in the contract, and e) recognize revenue when (or as) the Company satisfies a performance obligation. In determining the transaction price, the Company may include variable consideration within the transaction price to the extent that it is probable that a significant reversal of revenue will not occur when the uncertainty is subsequently resolved. Services within the scope of ASC 606 include private securities placement services, referral activities and commission sharing with other broker- dealers. *Referral Activities and Commission Sharing fees* – From time to time, the Company may refer certain institutional clients (generally hedge funds) who seek to engage in general securities trading activities to other broker-dealers who are approved for such activities. The general securities broker- dealer pays the Company a percentage of the commissions generated on the transactions from that customer. The Company may receive compensation for referrals involving a broad range of securities products including, but not exclusive to equity securities, closed-end funds, exchange-traded funds and exchange-traded limited partnership is. Referral fees are dictated by the referral arrangement entered into between the Company and the general securities broker-dealer. Referral fee revenue is recognized upon notification by its securities broker of funds invested by the Company's institutional clients. The Firm is not aware of the initial referral fee until 30 to 60 days after the client makes the investment in a fund; therefore, no account receivable is recorded. Also, ongoing referral fees for existing accounts are contingent upon the investments remaining in the funds and the Company is not aware of these amounts until 30-60 days after the period ends; therefore, no accounts receivable is recorded. Referrals and other fees received from customers prior to recognizing the revenue are reflected as contract liabilities (deferred revenue) on the Statement of Financial Condition. The Company had no deferred revenue on December 31, 2024. ## **Single Reportable Segment** The Company is engaged in a single line of business as a securities broker-dealer, which is comprised of one class of service, private placements. The Company has identified its President 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 Company. Additionally, the CODM uses excess net capital (see Note 5), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to reinvest profits or pay dividends. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the Company as a whole. The accounting policies used to measure the profit and loss of the segment are the same as those described in the summary of significant accounting policies. The company derived 77 percent of its total revenues from a single external customer in 2024. {11}------------------------------------------------ #### **Income Taxes** The Company is a single member limited liability company that is treated as a disregarded entity for income tax purposes as all income or loss flows through to its Parent. Therefore, no income tax expense or liability is recorded in the accompanying financial statements. The Company follows the FASB Accounting Standards Codification (ASC) 740-10, Accounting for Uncertainty in Income Taxes. Under FASB ASC 740-10, the Company is required to evaluate each of its tax positions to determine if they are "more likely than not" of being sustained "when challenged" or "when examined" by the applicable taxing authority. Tax positions not deemed to meet the "more likely than not" threshold would be recorded as a tax expense and liability in the current period. A tax position includes an entity's status, including its status as a pass-through entity, and the decision not to file a tax return. Management has evaluated the Company's tax positions and concluded that the Company has taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance as of December 31, 2024. The Company is not currently under audit by any tax jurisdiction. ## **Current Expected Credit Losses** In June 2016, the FASB issued ASU No. 2016-13 (Topic 326) *Measurement of Credit Losses on Financial Instruments*, which significantly changes the ways entities recognize and record credit losses on financial instruments such loans, loan commitments and other financial assets. The CECL model requires measurement of expected credit losses for financial assets measured at amortized cost, net investments in leases, and off-balance sheet credit exposures based on historical experience, current conditions, and reasonable and supportable forecasts over the remaining contractual life of the financial assets. ASC 606-10 defines a contract asset as an entity's conditional right to consideration in exchange for goods and services. The conditional right is based on something other than the passage of time, such as future performance. Once the conditional right has been fulfilled and an unconditional right to consideration exists, the contract asset becomes a trade receivable. While contract assets are not financial assets, ASC 606-10-45-3 requires these assets to be evaluated for credit losses under ASC 326-20. Therefore, estimates of expected credit losses on contract assets over their life are required to be recorded at inception and on an ongoing basis, based on historical information, current conditions, and reasonable and supportable forecasts. The Company may, at times, have an account receivable related to referral and commission sharing from executed agreements with independent external parties. In some circumstances, significant judgement is needed to determine the timing and measure of progress appropriate for revenue recognition under a specific contract. As such, the Company regularly reviews its accounts receivable for any bad debts based on the nature {12}------------------------------------------------ and contractual life or expected life of the financial assets, the Company's collection experience and customer worthiness. The Company had no net receivable from executed contracts on December 31, 2024. # **3. Operating Lease Obligations** The Company is required, under ASC 842, to record a right-of-use asset and a corresponding lease liability on the balance sheet for all leases with terms greater than 12 months. All such leases and are to be classified as either finance or operating. The Company had no lease obligations that required recording or disclosures in the December 31, 2024, financial statements. ## **4. Related Parties** The Company has an expense sharing agreement with Bridge Alternative Investments, Inc. effective April1, 2021 and a cost schedule effective January 1, 2024, (Affiliate) whereby the Company receives a monthly allocation of expenses incurred by the Affiliate on its behalf. During 2024, the Company recorded expenses under this agreement totaling \$23,181 which is included in accounts payable on the accompanying statement of financial condition. Included in the total is a provision for rent and technology. The Company recorded rent expenses totaling \$13,407, and technology fees totaling \$9,774 related to the shared expense with the Affiliate reported on the accompanying statement of operations. For 2024, the Company paid the Parent \$2,178,133. This amount represents registered representative payroll reimbursed to the Parent. ## **5. Net Capital Requirements** The Company is subject to the SEC's Uniform Net Capital Rule (SEC Rule 15c3-1) of the Securities Exchange Act of 1934, which requires maintenance of minimum net capital. Under the Rule, the Company is required to maintain net capital, as defined, equal to the greater of \$5,000 or 6 2/3% of aggregate indebtedness and the ratio of aggregate indebtedness to net capital shall not exceed 1500% or 15:1. At December 31, 2024, the Company had net capital of \$41,609 which was \$36,609 in excess of its required net capital and the percentage of aggregate indebtedness to net capital was 55.71. ## **6. Business Concentrations** The Company received revenue primarily from three customers, Roscommon**,** Drakewood Capital Management, and Cosimo that accounted for approximately 77%, 7%, and 5% of earned revenue, respectively, for the year ended December 31, 2024. ## **7. Subordinated Liabilities** {13}------------------------------------------------ The Company had no liabilities subordinated to the claims of general creditors as of the beginning of the period, end of the period, and during the period ended December 31, 2024. ### **8. Commitments and Contingencies** The Company does not have any commitments or contingencies, including arbitration or other litigation claims that may result in a loss or a future obligation. #### **9. Subsequent Events** Management has evaluated all events or transactions that occurred after December 31, 2024, through the date of the issued financial statements on March 26, 2025. During this period, there were no material recognizable subsequent events that required recording or disclosures in the December 31, 2024, financial statements. {14}------------------------------------------------ **Supplemental Schedules** {15}------------------------------------------------ ## **BRIDGE ALTERNATIVES SECURITIES, LLC** # **Schedule I – Computation of Net Capital under Rule 15c3-1 of the Securities and Exchange Act of 1934** **December 31, 2024** | COMPUTATION
OF
NET
CAPITAL | | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------| | TOTAL
MEMBER'S
EQUITY | \$
41,609 | | LESS: | | | Non-allowable
assets | | | Prepaid
deposits
and
expenses | | | NET
CAPITAL | \$
41,609 | | Minimum
dollar
net
capital
requirement
of
reporting
broker-dealer
(greater
of
minimum
net
capital
requirement
of
\$5,000
or 6 2/3%
of
aggregate
indebtedness) \$ | 5,000 | | EXCESS
NET
CAPITAL | \$
36,609 | | AGGREGATE
INDEBTEDNESS | \$
23,181 | | MINIMUM NET
CAPITAL
BASED
ON
AGGREGATE
INDEBTEDNESS | \$
5,000 | | PERCENTAGE
OF
NET
CAPITAL
TO
AGGREGATE
INDEBTEDNESS | 55.71% | There are no material differences between the preceding computation and the Company's corresponding unaudited amended Form X-17A-5 as of December 31, 2024. {16}------------------------------------------------ #### **BRIDGE ALTERNATIVES SECURITIES, LLC** # **Schedule II – Computation for Determination of Reserve Requirements for Brokers and Dealers Pursuant to Rule 15c3-3 under the Securities and Exchange Act of 1934** #### **December 31, 2024** The company does not claim an exemption from SEA Rule 15c3-3, in reliance on footnote 74 to SEC Release 34-70073, and as discussed in Q&A 8 of the related FAQ issued by SEC staff. The Company did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, did not carry accounts of customers of or for customers, and 3) did not carry PAB accounts (as defined in Rule 15c3-3) throughout the year ending December 31, 2024, without exception. {17}------------------------------------------------ # **BRIDGE ALTERNATIVES SECURITIES, LLC** # **Schedule III – Information Relating to the Possession or Control Requirements under the Securities and Exchange Commission Rule 15c3-3** # **December 31, 2024** The company does not claim an exemption from SEA Rule 15c3-3, in reliance on footnote 74 to SEC Release 34-70073, and as discussed in Q&A 8 of the related FAQ issued by SEC staff. The Company did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, 1) did not carry accounts of customers of or for customers, and 3) did not carry PAB accounts (as defined in Rule 15c3-3) throughout the year ending December 31, 2024, without exception. See accompanying report of independent registered public accounting firm. {18}------------------------------------------------ #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member of Bridge Alternatives Securities, LLC We have reviewed management's statements, included in the accompanying Rule 15c3-3 Exemption Report pursuant to SEC Rule 17a-5, in which (1) Bridge Alternatives Securities, LLC(the Company) did not claim an exemption under paragraph (k) of 17 C.F.R. §240.15c3-3, and (2) the Company 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 Company limits its business activities exclusively to include participating in receiving transaction-based compensation for identifying potential merger and acquisition opportunities for clients and private placement of securities. In addition, the Company did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of Rule 15c2-4 and/or funds received and promptly transmitted for effecting transactions via subscriptions on a subscription way basis where the funds are payable to the issuer or its agent and not to the Company; 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. Bridge Alternatives Securities, LLC's management is responsible for compliance with the exemption provisions and its statements. Our 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 Bridge Alternatives Securities, LLC'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, we do not express such an opinion. Based on our review, we are 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 upon the Company'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. Goldman & Company, CPA's, P.C. Marietta, Georgia March 26, 2025 {19}------------------------------------------------ - - - {20}------------------------------------------------ #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ON APPLYING AGREED-UPON PROCEDURES To the Member of Bridge Alternatives Securities LLC We have performed the procedures included in Rule 17a-5(e)(4) under the Securities Exchange Act of 1934 and in the Securities Investor Protection Corporation (SIPC) Series 600 Rules, which are enumerated below and were agreed to by Bridge Alternatives Securities LLC (the Company) and the SIPC, solely to assist you and SIPC in evaluating the Company's compliance with the applicable instructions of the General Assessment Reconciliation (Form SIPC-7) for the year ended December 31, 2024. Management of the Company has agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose of assisting you and SIPC in evaluating the Company's compliance with the applicable instructions on Form SIPC-7 for the year ended December 31, 2024. Additionally, SIPC has agreed to and acknowledged that the procedures performed are appropriate for their intended purpose. This report may not be suitable for any other purpose. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The sufficiency of these procedures is solely the responsibility of those parties specified in this report. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose. The procedures we performed and our associated findings are as follows: - 1) Compared the listed assessment payments in Form SIPC-7 with respective cash disbursement records entries, noting no differences; - 2) Compared the amounts reported on the audited Form X-17A-5 for the year ended December 31, 2024, as applicable, with the amounts reported in Form SIPC-7 for the year ended, noting trivial differences; - 3) Compared any adjustments reported in Form SIPC-7 with supporting schedules and working papers, noting no differences; - 4) Proved the arithmetical accuracy of the calculations reflected in Form SIPC-7 and in the related schedules and working papers supporting the adjustments noting no differences; and - 5) Compared the amount of any overpayment applied to the current assessment with the Form SIPC-7 on which it was originally computed, noting no differences. We were engaged by the Company to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the AICPA and in accordance with the standards of the Public Company Accounting Oversight Board (United States). We were not engaged to and did not conduct an examination or a review engagement, the objective of which would be the expression of an opinion or conclusion, respectively, on the Company's Form SIPC-7 and for its compliance with the applicable instructions on Form SIPC-7 for the year ended December 31, 2024. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you. We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement. This report is intended solely for the information and use of the specified parties listed above and is not intended to be and should not be used by anyone other than these specified parties. Goldman & Company, CPA's, P.C. Marietta, Georgia March 26, 2025 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.