# SUPERVISION PARTNERS LLC X-17A-5 (2026-06-29) — Broker-dealer annual report

- Company: SUPERVISION PARTNERS LLC
- Form: X-17A-5
- Filed: 2026-06-29
- Period: 2026-03-31
- Accession: 0001770093-26-000002
- CIK: 1770093
- File #: 8-70315
- Type: Broker-dealer
- Material weakness: No
- Auditor: YSL & Associates LLC
- Auditor location: New York, NY
- Contact: Gregory Lee Florio
- Phone: 212-257-5783
- Email: gflorio@supervisionpartners.com
- Website: supervisionpartners.com
- Signed by: Gregory Lee Florio (CEO)

Original filing: https://www.sec.gov/Archives/edgar/data/1770093/000177009326000002/supervisionpublicaudit.pdf

---

{0}------------------------------------------------

## 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

FACING PAGE

sec file number

| Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 |                        |  |  |
|-----------------------------------------------------------------------------------------------------------|------------------------|--|--|
| Filing for the period beginning U4/01/2025                                                                | AND ENDING U:3/31/2026 |  |  |
| MM/DD/YY                                                                                                  | MM/DD/YY               |  |  |
| A. REGISTRANT IDENTIFICATION                                                                              |                        |  |  |
| NAME OF FIRM: Supervision Partners, LLC                                                                   |                        |  |  |
|                                                                                                           |                        |  |  |

TYPE OF REGISTRANT (check all applicable boxes):

 Broker-dealer □ Check here if respondent is also an OTC derivatives dealer

□ Major security-based swap participant

ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.)

# 641 Lexington Ave, 17th Floor

| (No. and Street)                                 |                                            |                                                                                                                                                                         |  |
|--------------------------------------------------|--------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|
| NY                                               |                                            | 10022                                                                                                                                                                   |  |
| (State)                                          | (Zip Code)                                 |                                                                                                                                                                         |  |
| PERSON TO CONTACT WITH REGARD TO THIS FILING     |                                            |                                                                                                                                                                         |  |
| 212-257-5783                                     | gflorio@supervisionpartners.com            |                                                                                                                                                                         |  |
| (Area Code - Telephone Number)                   | (Email Address)                            |                                                                                                                                                                         |  |
|                                                  |                                            |                                                                                                                                                                         |  |
| YSL & Associates LLC                             |                                            |                                                                                                                                                                         |  |
|                                                  |                                            |                                                                                                                                                                         |  |
| New York<br>11 Broadway, STE 700                 | NY                                         | 10004                                                                                                                                                                   |  |
| (City)                                           | (State)                                    | (Zip Code)                                                                                                                                                              |  |
|                                                  | 2699                                       |                                                                                                                                                                         |  |
| (Date of Registration with PCAOB)(if applicable) | (PCAOB Registration Number, if applicable) |                                                                                                                                                                         |  |
| FOR OFFICIAL USE ONLY                            |                                            |                                                                                                                                                                         |  |
|                                                  |                                            | B. Accountant Identification<br>INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*<br>(Name - if individual, state last, first, and middle name) |  |

\* 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}------------------------------------------------

## OATH OR AFFIRMATION

| Gregory Fee Florio |  |  |                                                                      | swear (or affirm) that, to the best of my knowledge and belief, the |  |  |  |       |
|--------------------|--|--|----------------------------------------------------------------------|---------------------------------------------------------------------|--|--|--|-------|
|                    |  |  | tinancial report pertaining to the firm of Supervision Partners, LLC |                                                                     |  |  |  | as of |
| 3/31               |  |  | 2 026                                                                |                                                                     |  |  |  |       |
|                    |  |  |                                                                      |                                                                     |  |  |  |       |

partner, officer, director, or equivalent person, as the case may be, has any proprietarv interest in anv account classified solely as that of a customer.

Signature:

Title: CFO

Notary Public

# 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 § 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 240.15c3-1 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, or 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.
- 
- |
- □ (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.
- □ (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.

{2}------------------------------------------------

# SuperVision Partners LLC

Report on Audit of Financial Statement

as of March 31, 2026

Filed pursuant to Rule 17a-5(e)(3) under the Securities Exchange Act of 1934 as a PUBLIC DOCUMENT.

{3}------------------------------------------------

#### SuperVision Partners LLC

### Table of Contents as of March 31, 2026

| Report of Independent Registered Public Accounting Firm  |       |  |  |  |
|----------------------------------------------------------|-------|--|--|--|
| Financial Statement:<br>Statement of Financial Condition |       |  |  |  |
| Notes to Statement of Financial Condition                | 3 - 7 |  |  |  |

{4}------------------------------------------------

![](_page_4_Picture_0.jpeg)

11 Broadway, Suite 700, New York, NY 10004

Tel: (212) 232-0122 Fax: (646) 218-4682

# REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Members of SuperVision Partners LLC

# Opinion on the Financial Statement

We have audited the accompanying statement of financial condition of SuperVision Partners LLC (the "Company") as of March 31, 2026, 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 the Company as of March 31, 2026, in conformity with accounting principles generally accepted in the United States of America.

# Basis for Opinion

This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's 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 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 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 SuperVision Partners LLC's auditor since 2020.

New York, NY

June 29, 2026

{5}------------------------------------------------

### Statement of Financial Condition March 31, 2026

## ASSETS

| Cash<br>Investments in warrants, at fair value<br>Prepaid expenses and other assets | ക     | 161,258<br>69,683<br>13,660 |
|-------------------------------------------------------------------------------------|-------|-----------------------------|
| TOTAL ASSETS                                                                        | ક્ત્ર | 244,601                     |
| LIABILITIES AND MEMBERS' EQUITY                                                     |       |                             |
| LIABILITIES:                                                                        |       |                             |
| Accounts payable and accrued expenses                                               | ക്ക   | 17,862                      |
| TOTAL LIABILITIES                                                                   |       | 17,862                      |
| MEMBERS' EQUITY                                                                     |       | 226,739                     |
| TOTAL LIABILITIES AND MEMBERS' EQUITY                                               | ક     | 244,601                     |

See Notes to Accompanying Financial Statement

{6}------------------------------------------------

#### NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

SuperVision Partners LLC (the "Company") is a Limited Liability Company that was formed in New York on November 25, 2015. The Company is a registered broker-dealer with the Securities and Exchange Commission ("SEC"), the Financial Industry Regulatory Authority ("FINRA") and the Securities Investor ("SIPC") as of June 17, 2020. The firm engages in the private placement of securities, and commission sharing arrangements. The Company was approved to act as chaperone of foreign brokerdealers pursuant to Rule 15a-6 (limited to the private placements of securities), however, no business has been conducted in this area to date.

#### NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

#### Basis of Presentation

The accompanying financial statement has been prepared on the accrual basis of accordance with accounting principles generally accepted in the United States of America ("GAAP").

#### Use of Estimates

The preparation of the financial stated disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent the date of the financial statement, and the reported amounts of income and expenses during the reportingly, actual results could differ from those estimates and such differences could be material.

#### Accounts Receivable

The Company caries its accounts receivable at cost less an allowance for doubtful accounts. On a periodic basis, the Company evaluates its accounts receivable and establishes an allowance for doubtful accounts based on history of past write-offs and collections and current credit conditions. There was no allowance for doubtful accounts as of March 31, 2026.

#### Allowance for Credit Losses

The Company follows ASC Topic 326 Financial Instruments - Credit Losses ("ASC 326"). The Company identified no accounts receivable as impacted by the guidance for credit losses may be based on the Company's expectation of the collectability of its receivables utilizing the Company considers factors such as historical experience, credit quality, age of balances and current and future economic conditions that may affect the collectability in determining the allowance for credit losses. The Company's expectation is that the credit risk associated with its receivables is not significant. Accordingly, the Company has not provided an allowance for credit losses at March 31, 2026.

#### Revenue Recognition

The Company has adopted ASC Topic 606, Revenue from Contracts with Customers ("ASC Topic 606 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 entitled in exchange for those goods or services. The guidance requires an entity to follow a five step model to (a) identify the customer, (b) identify the performance obligations in the contract, (c) deternine the transaction price, (d) allocate the transaction price to the performance obligations in the contract, and (e) recognize revenue when (or as) the entity satisfies a performance obligation. In determining the transaction price, an entity may include variable consideration only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized would not occur when the uncertainty associated with the variable consideration is resolved. The revenue recognition guidance does not apply to revenue associated with financial instruments, interest income and expense, leasing and insurance contracts.

{7}------------------------------------------------

X<3893<^-/2/1-2A,323878/3 R2:1>SQMLOLT

#### - 
-- --

# !"#

\$!"!%&'\$ ! J>8E<7?2/F8/.2.89-/?:-B238?A21878/3<09815:-3-89HI8B8/5892:882:/860:<7 3=<29?8139<03>8-:1</3:2139He/89<5:18<0 :8B8/58-9</.<-/.72/2.878/3088982:/86;52:38:AF@2986</2998395/68:72/2.878/3233>805/6HJ>8<3>8:=2F3>8E<7?2/F 12/82:/0889-95?</3>8951189905A?A21878/3<005/69Hf<=8B8:M0<:18:32-/1</3:2139M:8B8/58-9:81<./-D86<B8:3-780<:26B-9<:F 2::2/.878/39-/=>-1>3>8?8:0<:72/18<@A-.23-</92:89-75A32/8<59AF?:<B-686@F3>8E<7?2/F2/61</95786@F3>81593<78:H g5:-/.3>8F82:MK`a`M`Qh=29:81<./-D86232?<-/3-/3-782/6KNh`MTTa=29:81<./-D86<B8:3-78H

(#!')!\*!# ,-./-0-12/3456.78/3-9:8;5-:863<6838:7-/8=>83>8:?8:0<:72/18<@A-.23-</92:8923-90-86232?<-/3-/3-78<:<B8:3-78C><=3< 2AA<12383:2/9213-</?:-189=>8:875A3-?A8?8:0<:72/18<@A-.23-</92:8-68/3-0-86C=>8/3<:81<./-D8:8B8/58@2986</3>82??:<?:-238 78295:8<03>8E<7?2/FG9?:<.:8995/68:3>81</3:213C2/6=>83>8:1</93:2-/39</B2:-2@A81</9-68:23-</9><5A6@82??A-866583< 5/18:32-/0535:88B8/39H

I818-B2@A892:-98=>8/3>8E<7?2/F>292/5/1</6-3-</2A:-.>33<:818-B8?2F78/35/68:21</3:213=-3>21593<78:2/62:8 68:81<./-D86=>8/3>8129>-9:818-B86HJ>8E<7?2/F>26KLMNOO-/<53932/6-/.:818-B2@A8923P?:-AQMLOLN2/6KO23R2:1>SQM LOLTH

E</3:2132998392:-98=>8/3>8:8B8/58299<1-2386=-3>3>81</3:213-9:81<./-D86?:-<:3<3>8E<7?2/FG95/1</6-3-</2A:-.>33< :818-B8?2F78/35/68:21</3:213=-3>21593<78:U-H8HM5/@-AA86:818-B2@A8V2/62:868:81<./-D86=>8/8-3>8:-3@81<7892:818-B2@A8 <:3>8129>-9:818-B86HJ>8E<7?2/F>26/<1</3:21329983923P?:-AQMLOLN2/6R2:1>SQMLOLTH

E</3:213A-2@-A-3-892:-98=>8/1593<78:9:87-31</3:21352A129>?2F78/39-/26B2/18<03>8E<7?2/F923-90F-/.-39?8:0<:72/18 <@A-.23-</95/68:3>81</3:2132/62:868:81<./-D86=>8/3>8:8B8/58299<1-2386=-3>3>81</3:213-9:81<./-D86=>8/3>8 ?8:0<:72/18<@A-.23-</-9923-90-86HJ>8E<7?2/F>26/<1</3:213A-2@-A-3-8923P?:-AQMLOLN2/6R2:1>SQMLOLTH

# !) +#

J>8E<7?2/F-92A-7-386A-2@-A-3F1<7?2/F3>23-96887863<@82?2:3/8:9>-?0<:-/1<7832W?5:?<989HJ>832W2@A8-/1<78<:A<99<0 3>8E<7?2/F-92AA<123863<-39787@8:9HJ>8E<7?2/F-995@48133<3>8X8=Y<:ZE-3F[/-/1<:?<:2386\59-/899J2WU][\J]VH^<: 3>8F82:8/686R2:1>SQMLOLTM3>8E<7?2/F-/15::86[\J8W?8/98<0K\_MOOOM=>-1>-9-/1A5686-/-/1<7832W8W?8/98H

J>8E<7?2/F211<5/390<:5/18:32-/3-89-/-/1<7832W895/68:3>8?:<B-9-</9<0^P,\P,E`aObQObONM]P11<5/3-/.0<:[/18:32-/3F-/ c/1<78J2W89H]J>8P,E1A2:-0-893>8211<5/3-/.0<:5/18:32-/3F-/-/1<7832W89:81<./-D86-/2/8/38:?:-98d90-/2/1-2A9323878/39H J>8P,E?:891:-@892:81<./-3-</3>:89><A62/678295:878/32??:<21>0<:3>80-/2/1-2A9323878/3:81<./-3-</2/678295:878/3<02 32W?<9-3-</32Z8/<:8W?813863<@832Z8/-/232W:835:/HJ>8P,E?:<B-689.5-62/18</68b:81<./-3-</M1A299-0-123-</M-/38:8932/6 ?8/2A3-89M211<5/3-/.-/-/38:-7?8:-<69M6-91A<95:82/63:2/9-3-</HP3R2:1>SQMLOLTM3>8E<7?2/F>26/<7238:-2A5/:81<./-D8632W 2/6/<5/18:32-/32W?<9-3-</9H

{8}------------------------------------------------

#### NOTE 3 - CONCENTRATION OF RISK

#### Cash

The Company maintains principally all cash balances in one financial institution which, at times, by the Federal Deposit Insurance Corporation. The Company is solely dependent upon daily bank balances and the strength of the financial institution. The Company has not incurred any losses on this account.

#### Revenue and Accounts Receivable

During the year ended March 31, 2026, the Company received private placement fees of \$1,345,383. Two clients accounted for approximately 79% of the Company's total revenue.

#### NOTE 4 - INDEMNIFICATIONS

In the normal course of its business, the Company indemnifies and guarantees certain service providers against specified potential losses in connection with their acting as an agent of, or providing services to, the maximum potential amount of future payments that the Company could be required to make under incations cannot be estimated. However, the Company believes that it is unlikely it will have to make mater these arrangements and has not recorded any contingent liability in the financial statement for these indemnifications.

The Company provides representations and warranties in connection with a variety of commercial transactions and occasionally indemnifies them against potential losses caused by the breach of those representations and warranties. The Company may also provide standard indemnifications to some counterparties to protect them in the event additional taxes are owed or payments are withheld, due either to a change in or adverse application of certain tax laws. These indemnifications generally are standard contractual terms and are entered into in the normal course of business. The maximum potential the Company could be required to make indemnifications cannot be estimated. However, the Company believes that it is unlikely it will have to make material payments and has not recorded any contingent liability in the financial statement for these indemnifications.

#### NOTE 5 - NET CAPITAL REQUIREMENTS

The Company is subject to the Securities and Exchange Commission Uniform Net Capital Rule (SEC Rule 1503-1), 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 15c3-1 also provides that equity capital may not be withdends paid if the resulting net capital ratio would exceed 10 to 1. Net capital and aggregate indebtedness change day to day, but on March 31, 2026, the Company had net capital of \$143,396 which was \$138,396 in excess of its required net capital of \$5,000; and the Company's percentage of aggregate indebtedness to net capital was approximately 12.46%.

#### NOTE 6 - RELATED-PARTY TRANSACTION

The Company has a services, space sharing and expense agreement with an Affiliate.

Under the agreement, the Affiliate agrees to provide the Company professional and support services, including but not limited to services in the areas of payroll support, telecommunications and information technology support.

Total expenses incurred by the Company under this agreement consisted of the following at March 31, 2026.

|                         |    | 36.000 |
|-------------------------|----|--------|
| Data and communications |    | 5.004  |
| Оссирапсу               |    | 10.836 |
| Compensations           | ਦੇ | 20.160 |

{9}------------------------------------------------

#### NOTE 7 - SEGMENT REPORTING

The Company follows ASC 280, Segment Reporting (including adoption of ASU 2023-07), which requires to disclose segment data based on how management makes decisions about allocating resources to segments and evaluating performance.

The Company is engaged in a single ine of business as a securities comprised of several classes of services, including investment banking, investment advisory, and venture capital businesses. The Company has identified the CEO as the chief operating decision maker ("CODM"), who uses net income to evaluate the results of the Company. Additionally, the CODM uses excess net capital, 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 business activities using information of the Company as a whole. The accounting policies used to measure the segment are the same as those described in the summary of significant accounting policies. The Company derived 79% of its revenue from two external customers for the year ended March 31, 2026.

#### NOTE 8 - INVESTMENTS IN WARRANTS AND FAIR VALUE MEASUREMENTS

In connection with investment banking and private placement transactions, the Company received warrants to purchase equity securities of client companies as partial compensation for services rended at fair value on the grant date, with the corresponding amount recognized as private placement fees.

Under the Company's compensation arrants received was allocated to registed to registered representatives, who are entitled to the related economic benefits. The Company holds such warrants solely as record holder on their behaff. Accordingly, only the Company's retained interest in the warrants is presented as an asset in the accompanying statement of financial condition.

For the year ended March 31, 2026, the Company received warrants with an aggregate fair value of \$236,719, of which \$165,704 was allocated to registered representatives and \$71,015 represented the Company's retained interest.

The Company accounts for these warrant in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 820, Fair Value Measurement. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the and establishes a hierarchy for inputs used in measuring fair value.

The fair value hierarchy prioritizes the inputs used in valuation methodologies into the following levels:

Level 1 - Quoted prices in active markets for identical assets or liabilities.

Level 2 - Observable inputs other than quoted prices included in Level 1.

Level 3 — Unobservable inputs that are supported by little or no market activity and reflect management's assumptions about the input market participants would use in pricing the asset or liability.

The Company's investments in warrants are classified within Level 3 of the fair methous relate primarily to securities of privately held companies for which observable wailable. The Company estimates fair value using the Black-Scholes option pricing model, which incorporates significant unobservable inputs including estimated fair value of the underlying securities, expected term, risk-free interest rates, and expected dividend yield.

{10}------------------------------------------------

#### NOTE 8 - INVESTMENTS IN WARRANTS AND FAIR VALUE MEASUREMENTS (continued)

Changes in assumptions and estimates utilized in the valuation model could materially affect the warrants. Due to the inherent uncertainty associated with valuations of privately held company securities, the estimated fair values may differ materially from values that would have been realized had a ready market existed.

The following table summarizes the changes in Level 3 warrant assets for the year ended March 31, 2026:

| Beginning balance                 | ਦਿੱ  |        |
|-----------------------------------|------|--------|
| Warrants received as compensation |      |        |
| (Company retained interest)       | ಕ್ಕಾ | 71.015 |
| Change in fair value              |      | (1,332 |
| Ending balance                    | 4    | 69.683 |

For purposes of the Company's net capital computation under SEC Rule 15:3-1, certain warrant positions may be treated as nonallowable assets or subject to applicable regulatory haircuts.

#### NOTE 9 - SUBSEQUENT EVENTS

Management has evaluated the Company's events and transactions that occurred subsequent to March 31, 2026 through June 29, 2026, when the financial statement was issued.

Subsequent to March 31, 2026, the Company made the distribution of warrants that had been received in connection with investment banking activities to its parent company.


Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.