# BLUEPATH CAPITAL LLC X-17A-5 (2024-02-29) — Broker-dealer annual report - Company: BLUEPATH CAPITAL LLC - Form: X-17A-5 - Filed: 2024-02-29 - Period: 2023-12-31 - Accession: 0001805203-24-000002 - CIK: 1805203 - File #: 8-70497 - Type: Broker-dealer - Material weakness: No - Auditor: Novogradac & Co. LLP - Auditor location: San Francisco, CA - Contact: Yuen Na Chun - Phone: 917-601-7066 - Signed by: Michael Cox (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1805203/000180520324000002/blca2023sofc.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 . . . 12.00 # **ANNUAL AUDITED REPORT** SEC FILE NUMBER **FORM X-17A-5** 8-70497 **PART III** # **FACING PAGE** **Information Required of Brokers and Dealers Pursuant to Section 17 of the Securities Exchange Act of 1934 and Rule 17a-5 Thereunder** | REPORT FOR THE PERIOD BEGINNING | 01/01/23 | AND ENDING | 12/31/23 | |--------------------------------------------------------------------------|--------------------------------------------------------|------------|-----------------------------| | | MM/DD/YY | | MM/DD/YY | | A. | REGISTRANT IDENTIFICATION | | | | NAME OF BROKER - DEALER: | | | | | | | | OFFICIAL USE ONLY | | BluePath Capital LLC | __________________
FIRM ID. NO. | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) | | | | | | 39 MESA STREET SUITE 103 | | | | | (No. and Street) | | | | San Francisco | CA | | 94129 | | (City) | (State) | | (Zip Code) | | NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS REPORT | | | | | Yuen Na Chun | | | (415) 549-0742 | | | | | (Area Code - Telephone No.) | | | | | | | B. | ACCOUNTANT IDENTIFICATION | | | | INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report* | | | | | | Novogradac & Company LLP | | | | | (Name - if individual, state last, first, middle name) | | | | 1160 Battery St. East Building, Suite 225 | San Francisco | CA | 94111 | | (Address) | (City) | (State) | (Zip Code) | | CHECK ONE: | | | | | X Certified Public Accountant | | | | | Public Accountant | | | | | Accountant not resident in United States or any of its possessions. | | | | | | FOR OFFICIAL USE ONLY | | | | | | | | | | | | | \**Claims for exemption from the requirement that the annual report be covered by the opinion of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis for the exemption. See section 240.17a-5(e)(2).*SEC 1410 (3-91) {1}------------------------------------------------ **Statement of Financial Condition Pursuant to Rule 17a-5 under the Securities Exchange Act of 1934 December 31, 2023** {2}------------------------------------------------ # **This report \*\* contains (check all applicable boxes):** - [x] Independent Auditors' Report. - [x] Facing Page. - [x] Statement of Financial Condition. - [ ] Statement of Operations. - [ ] Statement of Changes in Member's Equity. - [ ] Statement of Cash Flows. - [ ] Statement of Changes in Liabilities Subordinated to Claims of General Creditors (not applicable). - [ ] Computation of Net Capital for Brokers and Dealers Pursuant to Rule 15c3-1 under the Securities Exchange Act of 1934. - [ ] Computation for Determination of Reserve Requirements for Brokers and Dealers Pursuant to Rule 15c3-3 under the Securities Exchange Act of 1934. - [ ] Information Relating to the Possession or Control Requirements for Brokers and Dealers Pursuant to Rule 15c3-3 under the Securities Exchange Act of 1934 (not applicable). - [ ] A Reconciliation, including appropriate explanations, of the Computation of Net Capital Pursuant to Rule 15c3-1 (included with item (g)) and the Computation for Determination of Reserve Requirements Under Rule 15c3-3 (included in item (g)). - [ ] A Reconciliation Between the Audited and Unaudited Statements of Financial Condition With Respect to Methods of Consolidation (not applicable). - [x] An Affirmation. - [ ] A copy of the SIPC Supplemental Report. - [ ] A report describing any material inadequacies found to exist or found to have existed since the date of the previous audit (Supplemental Report on Internal Control). - [ ] Report of Independent Registered Public Accounting Firm regarding Rule 15c3-3 exemption report. - [ ] Management Statement Regarding Compliance with the Exemption Provisions for SEC Rule 15c3-3 - *\*\* For conditions of confidential treatment of certain portions of this filing, see section 240.17a-5(e)(3).* {3}------------------------------------------------ | Michael Cox | | | | . swear (or affirm) that, to the best of my knowledge and belief, the | | |-------------|--|-------------------------------------------------------------------------------------------|--|-----------------------------------------------------------------------|-------| | | | State report pertaining to the firm of BluePath Capital LLC | | | as or | | 17/21 | | a 2023 is true and corroct. I further swear (or affirm) that neither the company nor any | | | | | Signature: | | |---------------|--| | Title:
CEO | | - - - - - - - - - - - - - - - - - - - - - - - - - - {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member of BluePath Capital LLC: #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of BluePath Capital LLC (a Delaware limited liability company) as of December 31, 2023, 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 BluePath Capital LLC as of December 31, 2023, in conformity with accounting principles generally accepted in the United States of America. ### **Basis for Opinion** The financial statement is the responsibility of BluePath Capital LLC's management. Our responsibility is to express an opinion on BluePath Capital LLC'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 BluePath Capital 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 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 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. believe that our audit provides a reasonable basis for ou We have served as BluePath Capital LLC's auditor since 2021. San Francisco, California February 29, 2024 have served as BluePath Capital LLC's auditor since 202 {5}------------------------------------------------ # **Statement of Financial Condition December 31, 2023** | Assets | | |---------------------------------------|--------------| | Cash and cash equivalents | \$
61,533 | | Prepaid expense and other assets | 1,204 | | Total assets | \$
62,737 | | Liabilities and Member's Equity | | | Accounts payable and accrued expenses | \$
3,513 | | Due to related parties | 4,042 | | Total liabilities | 7,555 | | | | | Member's equity | 55,182 | | Total liabilities and member's equity | \$
62,737 | **\** The accompanying notes are an integral part of this financial statement. {6}------------------------------------------------ # **Notes to Statement of Financial Condition December 31, 2023** # **1. Organization and Business** BluePath Capital LLC, (the "Company"), a wholly-owned subsidiary of BluePath Finance Inc., is a limited liability company organized under the laws of the state of Delaware. The Company is a broker-dealer and as such is registered with the Securities and Exchange Commission (the "SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA"). The Company's operations consist of private placement of securities. # **2. Summary of Significant Accounting Policies** # **Basis of Presentation** This financial statement was prepared in conformity with accounting principles generally accepted in the United States of America which 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 amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. # **Cash and cash equivalents** All cash deposits are held by one financial institution and therefore are subject to the credit risk at that financial institution. The Company has not experienced any losses in such accounts and does not believe there to be any significant credit risk with respect to these deposits. ## **Income Taxes** The Company is a single member limited liability company and is treated as a disregarded entity for federal income tax reporting purposes. The Internal Revenue Code provides that any income or loss is passed through to the ultimate beneficial individual members for federal, state and certain local income taxes. Accordingly, the Company does not record a provision for federal or state income taxes. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires the Company to report information regarding its exposure to various tax positions taken by the Company. The Company has determined whether any tax positions have met the recognition threshold and has measured the Company's exposure to those tax positions. Management believes that the Company has adequately addressed all relevant tax positions and that there are no unrecorded tax liabilities. Federal and state tax authorities generally have the right to examine and audit the previous three years of tax returns filed. Any interest or penalties assessed to the Company are recorded in operating expenses. No interest or penalties from federal or state tax authorities were recorded in the accompanying financial statements. At December 31, 2023, management has determined that the Company had no uncertain tax positions that would require financial statement recognition. This determination will always be subject to ongoing reevaluation as facts and circumstances may require. {7}------------------------------------------------ # **Notes to Statement of Financial Condition December 31, 2023** # **3. Transactions with Related Parties** The Company has entered into an Expense Sharing Agreement ("ESA") with BluePath Finance Inc. (the "Parent") whereby the Parent is to provide office and administrative services, payroll and professional services. Shared costs are allocated based on the ESA between the two companies. The Company will not reimburse the Parent for any of the costs the Parent has attributed to and paid on behalf of the Company. The ESA has a term of one year and is automatically renewed annually, unless terminated or modified by written notice. The terms of these arrangements may not be the same as those that would otherwise exist or result from agreements and transactions among unrelated parties**.** As of December 31, 2023, included in the due to related parties are \$4,042 for email archiving services that were paid by the Parent on behalf of the Company # **4. Regulatory Requirements** The Company is subject to the SEC Uniform Net Capital Rule 15c3-1 under the Securities Exchange Act of 1934, 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. At December 31, 2023, the Company had net capital of approximately \$54,000 which exceeded the required net capital by approximately \$49,000. The Company does not claim an exemption under paragraph (k) of 17 C.F.R. § 240.15c3-3, and relies 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 referring securities transactions to other broker-dealers. The Company does not handle cash or securities on behalf of customers. # **5. Subsequent Events** The Company has evaluated subsequent events through the date this financial statement was issued. No events were noted which would require adjustments or disclosure in the footnotes to the financial statement. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.