# MONDEUM CAPITAL, LLC X-17A-5 (2026-03-10) — Broker-dealer annual report - Company: MONDEUM CAPITAL, LLC - Form: X-17A-5 - Filed: 2026-03-10 - Period: 2025-12-31 - Accession: 0001814799-26-000005 - CIK: 1814799 - File #: 8-70542 - Type: Broker-dealer - Material weakness: No - Auditor: YSL & Associates LLC - Auditor location: New York, NY - Contact: John Clifford - Phone: 6464683455 - Email: jclifford@mondeumcapital.com - Website: mondeumcapital.com - Signed by: John C. Clifford (CFO) Original filing: https://www.sec.gov/Archives/edgar/data/1814799/000181479926000005/public.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 > SEC FILE NUMBER 8-70542 # **ANNUAL REPORTS FORM X-17A-5 PART III** **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 _____________________ AND ENDING ______________________ | 01/01/25 | 12/31/25 | | |-----------------------------------------------------------------------------------------|----------|----------|--| | | MM/DD/YY | MM/DD/YY | | **A. REGISTRANT IDENTIFICATION** #### NAME OF FIRM: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ Mondeum Capital, LLC TYPE OF REGISTRANT (check all applicable boxes): ☐ Broker-dealer ☐ Security-based swap dealer ☐ Major security-based swap participant ☐ Check here if respondent is also an OTC derivatives dealer ■ ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | _____________________________________________________________________________________ | 27 Main Street, Suite B
(No. and Street) | | | |---------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------|------------------------------| | Southampton | NY
_____________________________________________________________________________________ | | 11968 | | (City) | (State) | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | John C. Clifford | John C. Clifford
_____________________________________________________________________________________ | | jclifford@mondeumcapital.com | | (Name) | (Area Code – Telephone Number) | (Email Address) | | | | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
YSL & Associates LLC
_____________________________________________________________________________________ | | | | | (Name – if individual, state last, first, and middle name) | | | | 11 Broadway, Suite 700 | New York | NY | 10004 | | (Address) | _____________________________________________________________________________________
(City) | (State) | (Zip Code) | | 6/6/2006 | _____________________________________________________________________________________ | 2699 | | | | | | | \* Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(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** | John C. Clifford | I, ___________________________________________, swear (or affirm) that, to the best of my knowledge and belief, the | |-----------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------| | financial | report pertaining to the firm of ____________________________________________________________, as of
Mondeum Capital, LLC | | 12/31
025 | ______________________________, 2_____, 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: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ Title: 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. - ☐ (l) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. - ☐ (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - ☐ (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable. - ☐ (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, 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. - ☐ (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. - ☐ (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - ☐ (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - ☐ (t) Independent public accountant's report based on an examination of the statement of financial condition. - ☐ (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - ☐ (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - ☐ (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - ☐ (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as applicable. - ☐ (y) Report describing any material inadequacies found to exist or found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). - ☐ (z) Other: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ - *\*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable.* {2}------------------------------------------------ # **MONDEUM CAPITAL LLC** #### **STATEMENT OF FINANCIAL CONDITION** **AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2025** {3}------------------------------------------------ ![](_page_3_Picture_0.jpeg) Member of Parker Russell International 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 Member of Mondeum Capital LLC ### Opinion on the Financial Statement We have audited the accompanying statement of financial condition of Mondeum Capital LLC (the "Company") as of December 31, 2025, 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 December 31, 2025, 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 Mondeum Capital LLC's auditor since 2021. New York, NY February 25, 2026 {4}------------------------------------------------ #### **MONDEUM CAPITAL LLC** #### **STATEMENT OF FINANCIAL CONDITION** #### **December 31, 2025** #### **(IN US DOLLARS)** #### **ASSETS** | Cash | \$
9,525 | |---------------------------------|---------------| | Prepaid expenses | 60,770 | | Due from Parent | 177,297 | | Receivable from clearing broker | 100,000 | | Other assets | 1,252 | | Total assets | \$
348,844 | #### **LIABILITIES AND MEMBER'S EQUITY** | Liabilities: | | | |---------------------------------------|---------------|-------| | Accounts payable | \$
10,400 | | | Due to affiliate | | 9,000 | | Total liabilities | 19,400 | | | Member's equity | 329,444 | | | Total liabilities and Member's equity | \$
348,844 | | The accompanying notes are an integral part of these financial statements. {5}------------------------------------------------ # **MONDEUM CAPITAL LLC NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2025 (IN US DOLLARS)** ### **1. ORGANIZATION AND NATURE OF BUSINESS** MONDEUM CAPITAL LLC (the "Company") was organized as a Limited Liability Company in 2020. The Company was granted membership in the Financial Industry Regulatory Authority ("FINRA") on January 5, 2021. It is a registered broker-dealer with the Securities and Exchange Commission ("SEC"), and is a member of the Securities Investor Protection Corporation ("SIPC"). The Company provides brokerage services to self-directed customers (retail and institutional). The Company introduces accounts for customers on a fully-disclosed basis. The Company's principal place of business is Southampton, New York. ### Recent Issued Accounting Pronouncements The Company does not believe that the adoption of any recently issued, but not yet effective, accounting standards will have a material effect on its financial position and results of operations. # **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** ### Basis of Presentation The accompanying financial statements have been prepared in conformity with U.S generally accepted accounting principles ("GAAP") and the rules and regulations of the United States Securities and Exchange Commission (the "Commission"). It is management's opinion, that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statement presentation. ### Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash equivalents are carried at cost, which approximates market value. ### Accounting Basis The Company uses the accrual basis of accounting for financial statement and income tax reporting. Accordingly revenues are recognized when services are rendered and expenses realized when the obligation is incurred. ### Income Taxes The Company is a single member limited liability company, treated as a disregarded entity for federal and local income tax purposes, and, thus, no federal income tax expense has been recorded in the financial statements. Taxable income of the Company is passed through to the member and reported on the member's individual tax returns. Pursuant to accounting guidance concerning provision for uncertain income tax provisions contained in Accounting Standards Codification ("ASC") 740-10, there are no uncertain income tax positions. The federal and state income tax returns are subject to examination by the IRS and state taxing authorities, generally for three years after they were filed. {6}------------------------------------------------ # **MONDEUM CAPITAL LLC NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2025 (IN US DOLLARS)** # **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)** #### 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 revenues and expenses during the reporting period. Actual results could differ from those estimates. #### Allowances of Credit Losses Disclosure The Company follows ASC Topic 326, Financial Instruments – Credit Losses ("ASC 326"). The Company identified no fees receivable as impacted by the guidance. An allowance for credit losses may be based on the Company's expectation of the collectability of its receivables utilizing the CECL framework. The Company considers factors such as historical experience, credit quality, age of balances and current and future economic conditions that may affect the Company's expectation of 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 December 31, 2025. ### Revenue Recognition The Company accounts for revenue in accordance with Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("Topic 606"). The main principle of Topic 606 is that an entity should recognize revenue in a manner that depicts the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. The Company records commission income on a trade date basis. Other income includes routing fees and customer fees which are recorded on a trade date basis. Clearing costs and other fees incurred in the execution of trades are also recorded on a trade date basis. ### Receivable from Clearing Broker As of December 31, 2025, amounts receivable from clearing broker of \$100,000 consisted of a deposit of \$100,000. The minimum deposit requirement with the clearing broker is \$100,000. ### Concentrations of Credit Risk The Company places its cash with a high credit quality financial institution. The Company's account at this institution is insured by the Federal Deposit Insurance Corporation ("FDIC") up to \$250,000. To reduce its risk associated with the failure of such financial institution, the Company evaluates at least annually the rating of the financial institution in which it holds deposits. {7}------------------------------------------------ # **MONDEUM CAPITAL LLC NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2025 (IN US DOLLARS)** # **3. NET CAPITAL** The Company is subject to the SEC Uniform Net Capital Rule (Rule 15c3-1), which requires the maintenance of minimum net capital of \$5,000, and requires that the ratio of aggregate indebtedness to net capital, both as defined, not exceed 15 to 1. The rule also provides that equity capital may not be withdrawn, cash dividends paid or the Company's operations expanded, if the resulting net capital ratio would exceed 10 to 1. At December 31, 2025, the Company had net capital of \$90,125, which was \$85,125 in excess of the FINRA minimum net capital requirement of \$5,000. # **4. RELATED PARTY TRANSACTIONS** The Company has an Expense Sharing Agreement (the "Agreement") in place with its parent and other affiliates for services that are shared and paid by the Parent. These expenses are allocated to the Company in accordance to the Agreement and the apportionment is based on reasonable allocation agreed by the parties. The Company had expenses allocated in the amount of \$403,444 for the year ended December 31, 2025. The Company has prepaid expenses to the Parent \$177,297 as of the year ended December 31, 2025. The Company engaged an affiliate to provide IT support services. The Company paid total IT support fees, in the amount of \$12,000 to the affiliate in 2025. As of December 31, 2025, the outstanding balance due to the affiliate was \$9,000. The Company purchased software license in the amount of \$180,000 from the Parent and the net balance of \$60,000 was included in prepaid expenses of the statement of financial condition. The prepaid software license expense is amortized for 5 years with a \$3,000 monthly amortization. # **5. BROKER DEALER – SINGLE REPORTABLE SEGMENT** The Company is engaged in a single line of business as a securities broker-dealer, which is comprised of agency transactions. The Company has identified its Finance Committee, which is comprised of its CEO and Principal Financial Officer, 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 3), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy. 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. {8}------------------------------------------------ # **MONDEUM CAPITAL LLC NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2025 (IN US DOLLARS)** ### **6. GOING CONCERN** The Company incurred a net loss of \$543,526 for the year ended December 31, 2025 and losses in prior years. These conditions raise doubt about the Company's ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effect of the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of this uncertainty. Management has evaluated the significance of these conditions and events and has developed plans that have alleviated the substantial doubt on going concern. The Company's Parent had provided capital in prior years and have continued to provide additional working capital to the Company and are committed to continue advancing the required working capital to the Company in the future. # **7. SUBSEQUENT EVENTS** The Company evaluated events occurring between the end of its fiscal year, December 31, 2025, through February 25, 2026, when the financial statements were issued. No subsequent events requiring recognition as of December 31, 2025. {9}------------------------------------------------ # MONDEUM CAPITAL LLC NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2025 (IN US DOLLARS) #### \*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\* The Company's Statement of Financial Condition as of December 31, 2025 is available for examination at the office of the Company and the Regional Office of the Securities and Exchange Commission. \*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\* Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.