# PERITUS CAPITAL, LLC X-17A-5 (2026-06-12) — Broker-dealer annual report - Company: PERITUS CAPITAL, LLC - Form: X-17A-5 - Filed: 2026-06-12 - Period: 2026-03-31 - Accession: 0001824935-26-000003 - CIK: 1824935 - File #: 8-70590 - Type: Broker-dealer - Material weakness: No - Auditor: Weisberg, Mole', Krantz & Goldfarb, LLP - Auditor location: Woodbury, NY - Contact: Daniel Sakol - Phone: 516 808 9534 - Email: howard@peritus.com - Website: peritus.com - Signed by: Howard Tang (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1824935/000182493526000003/perpublic.pdf --- {0}------------------------------------------------ # **PERITUS CAPITAL LLC** STATEMENT OF FINANCIAL CONDITION MARCH 31, 2026 {1}------------------------------------------------ # UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 # ANNUAL REPORTS FORM X-17A-5 PART III sec file number 8-70590 FACING PAGE | Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | 04/01/2025 | | 03/31/2026 | | | | |-----------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|--|------------|--------------------------------------------|--|--| | FILING FOR THE PERIOD BEGINNING | AND ENDING
MM/DD/YY | | | MM/DD/YY | | | | A. REGISTRANT IDENTIFICATION | | | | | | | | NAME OF FIRM: Peritus Capital, LLC | | | | | | | | TYPE OF REGISTRANT (check all applicable boxes):
Broker-dealer
□ Check here if respondent is also an OTC derivatives dealer | _ Security-based swap dealer | | | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | | | | 535 Fifth Avenue, 4th floor | | | | | | | | | (No. and Street) | | | | | | | New York | NY | | | 10017 | | | | (City) | (State) | | | (Zip Code) | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | | Howard Tang | 646-360-3102 | | | Howard@peritus.com | | | | (Name) | (Area Code - Telephone Number) | | | (Email Address) | | | | | B. Accountant Identification | | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | | | | | | Weisberg, Mole', Krantz & Goldfarb, LLP | | | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | | | 185 Crossways Park Drive | Woodbury | | NY | 11797 | | | | (Address) | (City) | | (State) | (Zip Code) | | | | 12-14-2004 | | | 2107 | | | | | (Date of Registration with PCAOB)(if applicable) | | | | (PCAOB Registration Number, if applicable) | | | | * Claims for exemption from the requirement that the annual reports of an independent public | FOR OFFICIAL USE ONLY | | | | | | accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(1)(ii), if applicable. Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. {2}------------------------------------------------ ### OATH OR AFFIRMATION I, Howard Tang report pertaining to the firm of Peritus Capital LLC as a manufacturer and consistence and of March 31 , 2026\_ 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: | ) દરતી | | |--------|------------|--------|--| | Title: | | | | | CEO | | | | 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, 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. {3}------------------------------------------------ # **PERITUS CAPITAL LLC MARCH 31, 2026** ## **TABLE OF CONTENTS** | | PAGE | |---------------------------------------------------------|------| | Report of Independent Registered Public Accounting Firm | 1 | | Statement of Financial Condition | 2 | | Notes to the Financial Statement | 3-6 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) # Weisberg, Molé, Krantz & Goldfarb, LLP Certified Public Accountants # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Members and Management of Peritus Capital LLC # Opinion on the Financial Statement We have audited the accompanying statement of financial condition of Peritus Capital LLC (the "Company") as of March 31, 2026, and the related notes (collectively referred to as the "financial statement"). In our opinion, the statement of financial condition 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 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. We have served as the Company's auditor since 2025. # Weisberg, Male', Krantz & Goldfarb, LLP Woodbury, New York June 10, 2026 {5}------------------------------------------------ # **PERITUS CAPITAL LLC STATEMENT OF FINANCIAL CONDITION** # **MARCH 31, 2026** #### Assets | Cash | \$
47,905 | |---------------------------------------|---------------| | Transaction fees receivable | 52,961 | | Prepaid expenses and other assets | 10,776 | | Total Assets | \$
111,642 | | LIABILITIES AND MEMBERS' EQUITY | | | Liabilities | | | Accounts payable | 791 | | Total liabilities | \$
791 | | Members' equity | 110,851 | | Total liabilities and members' equity | \$
111,642 | See notes to the financial statement {6}------------------------------------------------ # **PERITUS CAPITAL LLC NOTES TO THE FINANCIAL STATEMENT MARCH 31, 2026** # **1. ORGANIZATION AND DESCRIPTION OF BUSINESS** Peritus Capital LLC (the "Company") is a limited liability company organized under the laws of the state of Delaware on July 22, 2020. The Company's operations consist primarily of financial advisory and private capital raises for corporate clients. On May 27, 2021, the Company became a registered broker-dealer with the Securities and Exchange Commission and a member of the Financial Industry Regulatory Authority ("FINRA"). It is the intention of the members to continue to support and operate the Company for the twelve-month period from the date that these financial statements are issued and contribute the necessary capital to maintain the operations, fund its ongoing expenses and meet the net capital requirements of the SEC's Uniform Net Capital Rule. # **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** # *Basis of presentation* The accompanying financial statements of the Company have been prepared in conformity with accounting principles generally accepted in the United States of America. #### *Revenue recognition* Revenue from contracts with customers is recognized when, or as, the Company satisfies its performance obligations by transferring the promised services to the customers. A service is transferred to a customer when, or as, the customer obtains control of that service. A performance obligation may be satisfied at a point in time or overtime. Revenue from a performance obligation satisfied at a point in time is recognized at the point in time that the Company determines the customer obtains control over the promised service. Revenue from a performance obligation satisfies over time is recognized by measuring the Company's progress in satisfying the performance obligation in a manner that depicts the transfer of the services to the customer. The Company recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The guidance requires an entity to follow a five-step model to (a) identify the contract(s) 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 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. Revenue from contracts with customers includes success and advisory fees from investment banking services. The recognition and measurement of revenue is based on the assessment of individual contract terms. Significant judgment is required to determine whether performance obligations are satisfied at a point in time or over time; how to allocate transaction prices where multiple performance obligations are identified; when to recognize revenue based on the appropriate measure of the Company's progress under the contract; and whether constraints on variable consideration should be applied due to uncertain future events. Management has determined that one performance obligation exists, for contracts with customers, and that the unconstrained portion is recognized over time in the form of advisory fees. {7}------------------------------------------------ # **PERITUS CAPITAL LLC NOTES TO THE FINANCIAL STATEMENT MARCH 31, 2026** # **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** *(continued)* # *Revenue recognition (continued) Fee income* Fee income are fees arising from offerings in which the Company acts as an underwriter or agent and generally consist of a nonrefundable up-front fee and a success fee. The nonrefundable fee is recorded as deferred revenue upon receipt and recognized at a point in time when the performance obligation is satisfied, or when the transaction is deemed by management to be terminated. Management's judgment is required in determining when a transaction is considered to be terminated. ## *Fee income capital raising* Fee income capital raising is considered variable consideration and recognized when it is probable that the variable consideration will not be reversed in a future period. The variable consideration is considered to be constrained until satisfaction of the performance obligation. The Company's performance obligation is generally satisfied at a point in time upon the closing of a strategic transaction, completion of a financing or underwriting arrangement, or some other defined outcome. At this time, the Company has transferred control of the promised service, and the customer obtains control. As these arrangements represent a single performance obligation, allocation of the transaction price is not necessary. The Company has elected to apply the following optional exemptions regarding the disclosure of its remaining performance obligations: the Company's performance obligation is part of a contract that has an original expected duration of one year or less. ## *Transaction fee receivable contract assets and liabilities* Transaction fees receivable are carried at cost less an allowance for credit losses. The Company complies with Accounting Standards Codification ("ASC") Topic 326, *Financial Instruments* - *Credit Losses* ("ASC 326"). ASC 326 impacts the impairment model for certain financial assets measured at amortized cost by requiring a current expected credit loss ("CECL") methodology to estimate expected credit losses over the entire life of the financial assets as of the reporting date. The allowance for credit losses is based on the Company's expectation of the collectability of financial instruments carried at amortized cost, including fees receivable utilizing the CECL framework. The Company's expectation is that the credit risk associated with transaction fees receivable is that any client which it conducts business with is unable to fulfill its contractual obligations. Management monitors the credit risk of client, and currently there is not a foreseeable expectation of an event or change which could result in the fees receivable being unpaid based on individual facts and circumstances. 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 collectability in determining the allowance for credit losses. {8}------------------------------------------------ # **PERITUS CAPITAL LLC NOTES TO THE FINANCIAL STATEMENT** # **MARCH 31, 2026** ## **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** *(continued)* #### *Transaction fee receivable contract assets and liabilities (continued)* The Company has no allowance for credit losses as of March 31, 2026. Contract asset arise when the revenue associated with the contract is recognized prior to the Company's unconditional right to receive payment under a contract with a customer (i.e., unbilled receivable) and are derecognized when it becomes a receivable or the cash is received. Contract liabilities arise when customers remit contractual cash payments in advance of the Company satisfying its performance obligations under the contract and are derecognized when the performance obligation is satisfied. The Company had no contract assets or liabilities at April 1, 2026 and March 31, 2026. # *Concentration of risk* The Company maintains cash in bank accounts with a single financial institution. The balances are insured by the FDIC up to \$250,000. From time to time, the balance in this account may exceed the federally insured limits. Any loss incurred or lack of access to such funds could have a significant adverse impact on the Company's financial condition, results of operations, and cash flows. # *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. #### *Income taxes* The Company is treated as a partnership for income tax purposes. The members of the Company are then taxed on their proportionate share of the Company's taxable income or loss. Accordingly, the Company is not subject to income taxes. The Company has no uncertain tax positions that would require financial statement recognition. #### **3. RELATED PARTY TRANSACTIONS** During the normal course of business, the Company may receive revenue deposits on behalf of its members. At March 31, 2026, there was no amount due to members. {9}------------------------------------------------ # **PERITUS CAPITAL LLC NOTES TO THE FINANCIAL STATEMENT** ### **MARCH 31, 2026** # **4. NET CAPITAL REQUIREMENTS** The Company is subject to the uniform net capital requirements of Rule 15c3-l of the Securities and Exchange Act, as amended, which requires the Company to maintain, at all times, sufficient liquid assets to cover indebtedness. In accordance with the Rule, the Company is required to maintain defined minimum net capital of the greater of \$5,000 or 6.6667 % of aggregate indebtedness. At March 31, 2026, the Company had net capital, as defined, of \$47,114, which exceeded the required minimum net capital of \$5,000 by \$42,114. Aggregate indebtedness at March 31, 2026 was \$791. The Company's percentage of aggregate indebtedness to net capital was 1.68%%. The Firm 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 Firm has represented that it does not and will not, (1) directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, (2) does not and will not carry accounts of or for customers and (3) does not and will not carry PAB accounts. # **5. CONCENTRATION OF CREDIT RISK** The Company maintains all of its cash in financial institutions, which cash balance at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not subject to any significant risk. For the year ended March 31, 2026, 3 customers accounted for 100% of the Company's revenue. # **6. REPORTABLE SEGMENTS** The Company is engaged in a single line of business as a securities broker-dealer, which is comprised of financial advisory and private capital raises for corporate clients. The Company has identified it's CEO as the Chief Operation 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 4), 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 profit and loss of the segment are the same as those described in the summary of significant policies. ### **7. SUBSEQUENT EVENTS** Management of the Company has evaluated events and transactions that may have occurred since March 31, 2026, and through date of issuance and determined that there are no material events that would require disclosures in the Company's financial statements. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.