# EQUAPATH CAPITAL, LLC X-17A-5 (2024-03-18) — Broker-dealer annual report - Company: EQUAPATH CAPITAL, LLC - Form: X-17A-5 - Filed: 2024-03-18 - Period: 2023-12-31 - Accession: 0001854893-24-000001 - CIK: 1854893 - File #: 8-70693 - Type: Broker-dealer - Material weakness: No - Auditor: TPS THAYER, LLC - Auditor location: SUGARLAND, TX - Contact: ROBERT RUBIN - Phone: 786-331-3391 - Email: rrubin@equapath.com - Website: equapath.com - Signed by: ROBERT RUBIN (OWNER) Original filing: https://www.sec.gov/Archives/edgar/data/1854893/000185489324000001/equapath23.pdf --- {0}------------------------------------------------ | | UNITED STATES | | |--|------------------------|------------------------------------| | | | SECURITIES AND EXCHANGE COMMISSION | | | Washington, D.C. 20549 | | | ANNUAL REPORTS | |----------------| | FORM X-17A-5 | | PART Ill | | OMB APPROVAL | | |--------------------------|--| | 0MB Number: 3235-0123 | | | Expires: Nov. 30, 2026 | | | Estimated average burden | | | hours per response: 12 | | | SEC FILE NUMBER | | | 8-70693 | | **PART** Ill 8-70693 **FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934** ·aero» me«so a«moo **O101/2 ma**«on **\_12/81/2** MM/DD/YY **A. REGISTRANT IDENTIFICATION** ior er. Equapath Capital, LLC MM/DD/YY TYPE OF REGISTRANT (check all applicable boxes): [ Broker-dealer [ Security-based swap dealer [ Check here if respondent is also an OTC derivatives dealer D Major security-based swap participant ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) 8899 NW 18th Terrace, Suite 102 (No. and Street) Doral (City) PERSON TO CONTACT WITH REGARD TO THIS FILING FL (State) 33172 (Zip Code) Robert Rubin (Name) 786-331-3391 (Area Code -- Telephone Number) **B. ACCOUNTANT IDENTIFICATION** rrubin@equapath.com (Email Address) INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this fling" TPS Thayer, LLC **(Name --**if individual, **state** last, first, and middle name) 1600 Hwy 6, Suite 100 Sugarland TX 77478 (Address) (City) 07/14/2020 (State) 6706 (Zip Code) (Date of Registration with PCAOB)(if applicable) **FOR OFFICIAL USE ONLY** (PCAOB Registration Number, if applicable) 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-S(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** | | J, obert Rubin | swear (or affirm) that, to the best of my knowledge and belief, the | |----|------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------| | | financial report pertaining to the firm of Equapath Capital, LLC | as of | | | T
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l | 2° ,is true andcorrect. 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 anyLt classified solely | | | as that of a customer. | 1 | | | | > | | | | �- I
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Signature: | | | | | | | | Title: | | | | Owner | | | :J,ta,y | | | | Po�H, | | | | | | | | | | | | This filing contains (check all applicable boxes):
ii (a) Statement of financial condition. | | | | D (b) Notes to consolidated statement of financial condition. | | | | | ii (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). | | | | ii (d) Statement of cash flows. | | | s | (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. | | | D | (f) Statement of changes in liabilities subordinated to claims of creditors. | | | ii | (g) Notes to consolidated financial statements. | | | ii | | (h) Computation of net capital under 17 CFR 240.1Sc3-1 or 17 CFR 240.18a-1, as applicable. | | D | (i) Computation of tangible net worth under 17 CFR 240.lBa-2. | | | D | | (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. | | D | | (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. | | | | D (I) Computation for Determination of PAB Requirements under Exhibit A to 5 240.15c3-3. | | | | | D (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. | | | | D (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR | | | 240.15c3-3(0)(2) 0r 17 CFR 240.18a-4, as applicable. | | - 0 (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 €FR 240.15c3-3 0r 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist. - D (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - i (a) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, 0r 17 CFR 240.18a-7, as applicable. - E (r) Compliance report in accordance with 17 CFR 240.17a-5 0r 17 CFR 240.18a-7, as applicable. - a (s) Exemption report in accordance with 17 CFR 240.17a-5 0r 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, *0r* 17 CFR 240.17a-12, as applicable. - D (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. - a (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. - D (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). D (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(0)(2), as applicable.* {2}------------------------------------------------ ### **EQUAPATH CAPITAL, LLC** ### **FINANCIAL STATEMENTS AND SUPPLEMENT AL SCHEDULES** With Report of Independent Registered Public Accounting Firm For the Year Ended December 3 1, 2023 {3}------------------------------------------------ # **TABLE OF CONTENTS** For the Year Ended December 31, 2023 ### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** 1 ### **FINANCIAL STATEMENTS** | Statement of Financial Condition | 2 | |-----------------------------------------|---| | Statement of Income | 3 | | Statement of Changes in Member's Equity | 4 | | Statement of Cash Flows | 5 | | | | ### **NOTES TO THE FINANCIAL ST A TEMENTS** 6 - 11 #### **SUPPLEMENTAL SCHEDULES** | Schedule I: Computation of Net Capital under Rule 15c3-1 of the Securities and Exchange | |-------------------------------------------------------------------------------------------| | Commission
12 | | Schedule II: Computation of Determination of Reserve Requirements for Brokers and Dealers | | Pursuant to Rule 15c3-3 under the Securities and Exchange Commission
13 | | Schedule Ill: Information Relating to the Possession or Control Requirements under the | | Securities and Exchange Commission Rule 15c3-3 • 14 | | | | Report on Broker Dealer Exemption | . 15 | | |-----------------------------------|------|--| |-----------------------------------|------|--| {4}------------------------------------------------ ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Director and Member Equapath Capital, LLC 8899 NW 18 Terrace, Suite 102 Doral, FL 33172 #### Opinion on The Financial Statements We have audited the accompanying statement of financial condition of Equapath Capital, LLC (the "Company") as of December 31, 2023, and the related statements of income, changes in member's equity, and cash flows for the year then ended, December 31 , 2023, and the related notes (collectively referred to as "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 3 1 , 2023, and the results of its operations and its cash flows for the year ended December 3 1 , 2023, in accordance with accounting principles generally accepted in the United States of America. #### Going Concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As described in Note 3 to the financial statements the Company has suffered recurring losses from operations and has cash flows used in operations that raise substantial doubt about its ability to continue as a going concern. Management's plans regarding these matters are also described in Note 3. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. ### Basis for Opinion These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company'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 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 from material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risk 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 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. {5}------------------------------------------------ ![](_page_5_Picture_0.jpeg) ### Auditor's Report on Supplementary Information The accompanying supplemental schedules have been subjected to the auditing procedures performed in conjunction with the audit of Equapath Capital, LLC's financial statements. The supplemental schedules are the responsibility ofEquapath Capital, LLC's management. Our audit procedures included detennining whether the supplemental schedules reconcile 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 schedules. In forming our opinion on the supplemental schedules, we evaluated whether the supplemental schedules, including their form and content, is presented in conformity with 17 C.F .R. §240. l 7a-5. In our opinion, the supplemental schedules are fairly stated, in all material respects, in relation to the financial statements as a whole. *77op. 4444* TPS Thayer LLC We have served as Equapatb Capital, LLC's. auditor since 202 l. Sugar Land, TX March 18, 2024 {6}------------------------------------------------ ## **STATEMENT OF FINANCIAL CONDITION** As of December 31, 2023 | ASSETS | | |------------------------------------------|--------------| | Cash | \$
41,493 | | Prepaid Expenses | 4,965 | | TOTAL ASSETS | \$
46.458 | | LIABILITIES AND MEMBER'S EQUITY | | | LIABILITIES | | | Accounts Payable and Accrued Liabilities | \$
1,137 | | Due to Related Party | 11 557 | | TOTAL LIABLITIES | 12,694 | | COMMITMENTS AND CONTINGENCIES | | | MEMBER'S EQUITY | 33,764 | | TOTAL LIABILITIES AND MEMER'S EQUITY | \$
46,458 | The accompanying notes are an integral part of these financial statements. {7}------------------------------------------------ # **STATEMENT OF INCOME** For the Year Ended December 31, 2023 | REVENUES | | |--------------------------------------|----------------| | Advisory Income | \$
3,000 | | TOTAL REVENUES | 3,000 | | EXPENSES | | | Professional Fees | 24,633 | | Regulatory Fees | 3,354 | | Technology, Data, and Communications | 3,981 | | Occupancy and Equipment | 9,000 | | Other Expenses | 1,878 | | Bad debt write off | 5,000 | | TOTAL EXPENSES | 47,846 | | NET LOSS | \$
(44.846) | The accompanying notes are an integral part of these financial statements. Page 3 {8}------------------------------------------------ # **STATEMENT OF CHANGES IN MEMBER'S EQUITY** For the Year Ended December 31, 2023 | BALANCE AT DECEMBER 31, 2022 | \$
80,348 | |------------------------------|---------------------| | Distributions
Net Loss | (1,738)
(44,846) | | BALANCE AT DECEMBER 31, 2023 | 33,764
\$ | The accompanying notes are an integral part of these financial statements. {9}------------------------------------------------ # **STATEMENT OF CASH FLOWS** For the Year Ended December 31, 2023 | CASH FLOWS FROM OPERATING ACTIVITIES | | |------------------------------------------------------------------------------------------------|--------------------| | Net Loss | \$(44,846) | | Changes to Assets and Liabilities | | | Prepaid expenses | (2,127) | | Accounts receivable | 5,000 | | Accounts receivable - related party | 16,500 | | Accounts payable and accrued liabilities | 1,077 | | Accounts payable - related party | 11,
557 | | Net Cash Used in Operating Activities | (12,839) | | CASH FLOWS FROM FINANCING ACTIVITIES
Distributions
Net Cash Used in Financing Activities | (1,738)
(1,738) | | NET DECREASE TN CASH | (14,577) | | CASH BALANCE AT JANUARY 1, 2023 | 56,070 | | CASH BALANCE AT DECEMBER 31, 2023 | 41.493
\$ | The accompanying notes are an integral part of these financial statements. {10}------------------------------------------------ # **NOTES TO THE FINANCIAL STATEMENTS** For the Year Ended December 31, 2023 #### **I. Organization and Nature of Business** Equapath Capital, LLC (the Company) is a Florida Limited Liability Company and a registered broker-dealer with the Securities and Exchange Commission (SEC) and member of the Financial Industry Regulatory Authority (FINRA). The Company is under direct ownership of Mr. Robert Rubin. The Company's business is the structuring and sales of private placement services. The Company acts as an introducing broker-dealer, the Company is exempt from the provisions of Rule 15c3-3 as the Company does not directly or indirectly receive, hold or otherwise owe funds or securities for or to customers, and did not carry accounts of or for customers. #### **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). #### **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 a bank deposit account(s) which, at times, may exceed the federally insured limits. The Company monitors the bank account(s) and does not expect to incur any losses from such account(s). The Company has defined cash and cash equivalents as highly liquid investments with original maturities of less than ninety days that are not held-for-sale in the ordinary course of business. The recorded value of such instruments approximates their fair value. At December 3 1, 2023, the Company had no cash equivalents. {11}------------------------------------------------ # **NOTES TO THE FINANCIAL STATEMENTS** For the Year Ended December 31, 2023 ### **2. Significant Accounting and Reporting Policies -- Continued** #### **Revenue** The Company recognizes *Revenue from Contracts with Customers* in accordance with ("ASC Topic 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. Additionally, the guidance requires the Company to follow a five-step model to a) identify the contract with the 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. Private securities placement include success fees that are owed to the Company on a private placement transactions. The amount of the fee is stipulated in the Company's engagement contract with the client and is generally calculated as a percentage of the relevant transaction or as a fixed fee. Success fees are recognized when the relevant private placement transaction is closed, when all performance obligations to the client have been completed ### **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 the member. Therefore, no income tax expense or liability is recorded in the accompanying financial statements have been completed. ### **Fair Value of Financial Instruments** FASB ASC 820 defines fair value, established a framework for measuring fair value, and establishes a fair value hierarchy which prioritizes the inputs to valuation techniques. Fair value is 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 measurement date. A fair value measurement assumes that the transactions to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market. Valuation techniques that are consistent with the market, income or cost approach, as specified by F ASB ASC 820, are used to measure fair value. {12}------------------------------------------------ # **NOTES TO THE FINANCIAL STATEMENTS** For the Year Ended December 31, 2023 ### **2. Significant Accounting and Reporting Policies -- Continued** The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad Levels: Level **I -** inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2- inputs to the valuation methodology included quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3- inputs to the valuation methodology are unobservable and significant to the fair value measurement. Certain financial instruments are carried at cost on the balance sheet, which approximates fair value due to their short term, highly liquid nature. These instruments include cash, accounts receivables, related party receivable and accounts payable. #### **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 changed the way entities recognize and record credit losses on financial instruments such as 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. The Company's accounts receivable consists of trade receivables for the private placement of securities. The Company regularly reviews its accounts receivables for any bad debts. As such, the Company regularly reviews its accounts receivables for any bad debts based on the analysis of the Company's collection experience and customer worthiness. At December 31, 2023, the Company had \$0 in net receivables from executed contracts. {13}------------------------------------------------ # **NOTES TO THE FINANICAL STATEMENTS** For the Year Ended December 31, 2023 #### **3. Going Concern** These financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The continuation of the Company as a going concern is dependent upon the continued financial support from its stockholder and related parties, the ability of the Company to obtain necessary equity financing to continue operations, and ultimately the attainment of profitable operations. As ofDecember 31, 2023, the Company had a net working capital of \$28,799 and has an members equity of \$33,764. Furthermore, for the year ended December 31, 2023, the Company incurred a net loss of \$44,846 and used \$12,839 in operating activities. These factors raise substantial doubt regarding the Company's ability to continue as a going concern. These audited financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. ### **4. Related Parties** The Company is an affiliate with 3N Outdoor Media (Affiliate). In connection to this relationship, the Company and the Affiliate have executed an expense sharing agreement whereby the Company receives a monthly allocation of expenses incurred by the Affiliate on its behalf. During 2023, the Company recorded expenses under this agreement totaling \$12,000. Included in the total is a provision for rent. The Company recorded rent totaling \$9,000 related to the shared expense with the Affiliate. Related party payables as of December 3 1 , 2023 was \$11,55 7. ### **5. Lease Obligations** The Company is required to record a right-of-use asset and a corresponding lease liability on the balance sheet for all leases with terms greater than twelve (12) months. All such leases are to be classified as either finance or operating. The Company has no lease obligations that required recording or disclosures in the December 3 1 , 2023, financial statements. {14}------------------------------------------------ # **NOTES TO THE FINANCIAL SATEMENTS** For the Year Ended December 31, 2023 #### **6. Regulatory Requirements** #### **Net Capital Requirements** The Company is subject to the SEC's Uniform Net Capital Rule (SEC Rule l 5c3- l) of the Securities Exchange Act of 1934 which requires maintenance of minimum net capital. Under the Rule, the Company is required to maintain minimum net capital, as defined, equal to the greater of \$5,000 or 6 2/3% of aggregate indebtedness. The ratio of aggregated indebtedness to net capital cannot exceed 1500% or 15: 1 as an established broker dealer. At December 31, 2023, the Company had net capital of \$28,799 which was \$23,799 in excess of its required net capital and the ratio of aggregate indebtedness to net capital was 44.08%. #### **Reserve Requirements** The Company does not claim an exemption from SEC Rule 15c3-3, in reliance on footnote 74 to SEC Release 34- 70073, as discussed in Q&A 8 of the related FAQ issued by SEC staff. The Company 1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, 2) did not carry accounts of customers of or for customers, and 3) did not carry proprietary broker accounts (PAB accounts) (as defined in Rule **l** 5c3-3) throughout the year ended December 31, 2023, without exception. #### **Possession and Control Requirements** The Company does not claim an exemption from SEC Rule 15c3-3, in reliance on footnote 74 to SEC Release 34- 70073, as discussed in Q&A 8 of the related FAQ issued by SEC staff. The Company 1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, 2) did not carry accounts of customers of or for customers, and 3) did not carry proprietary broker accounts (PAB accounts) (as defined in Rule 15c3-3) throughout the year ended December 31, 2023, without exception. #### **7. Accounts Receivable** As of December 3 1, 2023 the Company had accounts receivable of \$0, due to write off of \$5,000 in the period. #### **8. Prepaid Expenses** As of December 3 1, 2023 the Company had prepaid expenses of\$4,965, noted below: | Fidelity Bond | \$
341 | |------------------------|----------------| | FINRACRD | 559 | | FTNRA Renewals | 1
, 8
15 | | Prepaid Expenses Other | 2,250 | | | \$
4,965 | {15}------------------------------------------------ # **NOTES TO THE FINANCIAL SATEMENTS** For the Year Ended December 31, 2023 # **9. Professional Fees** During the year ended December 31, 2023, the Company recorded professional fees of \$18.268 as follows: | Legal and accounting services | \$
7,750 | |-------------------------------|-------------| | Accounting Services | 1,472 | | Consulting Fees | 15,411 | | | \$
24633 | ### **10. Member's Equity** During the year ended December 31, 2023, the Company made distributions to the member of \$1,738 in cash. ## **11. Subordinated Liabilities** The Company had no liabilities subordinated to the claims of general creditors as of the beginning of 2023, end of 2023, and during 2023. ### **12. 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. ### **13. Subsequent Events** Management has evaluated all events or transactions that occurred after December 31, 2023, through March 18, 2024, the date of the issued financial statements. During this period, there were no material recognizable subsequent events that required recording or disclosure in the December 31, 2023, financial statements. {16}------------------------------------------------ # **SUPPLEMENT AL INFORMATION** # **Equapath Capital, LLC** # **SCHEDULE** I **Computation of Net Capital under Rule 15c3-1 of the Securities and Exchange Commission** As of December 31, 2023 | COMPUTATION OF NET CAPITAL | | |----------------------------------------------------------------------------------------------------------|--------------------| | TOTAL MEMBER'S EQUITY | \$
33,764 | | LESS:
Non-Allowable Assets
Prepaid Expenses
Total Non-Allowable Assets | (4,965)
(4,965) | | TENTATIVE NET CAPTIAL | 28,799 | | HAIRCUTS ON SECURITIES | | | NET CAPITAL | \$
28.799 | | Minimum dollar net capital requirement of reporting broker dealer
(greater of\$5,000 or 6-2/3% of AT) | \$
5,000 | | EXCESS NET CAPITAL | \$
23,799 | | TOTAL AGGREGATE INDEBTEDNESS | \$
12,694 | | MINIMUM NET CAPITAL BASED ON Al | \$
847 | | PERCENTAGE OF NET CAPITAL TO AI | 44.08% | There are no material differences between net capital in Part IIA of Form X-17 A-5 and net capital above. {17}------------------------------------------------ # **SUPPLEMENTAL INFORMATION** ### **Equapath Capital, 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** For the Year Ended December 31, 2023 The Company does not claim an exemption from SEC Rule l 5c3-3, in reliance on footnote 74 to SEC Release 34-70073, as discussed in Q&A 8 of the related FAQ issued by SEC staff. The Company 1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, 2) 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 period ending December 3 1 , 2023, without exception. {18}------------------------------------------------ # **SUPPLEMENTAL INFORMATION** # **Equapath Capital, LLC** ### **Information Relating to the Possession or Control Requirements under the Securities and Exchange Commission Rule 15c3-3** For the Year Ended December 31, 2023 The Company does not claim an exemption from SEC Rule 1 Sc3-3, in reliance on footnote 74 to SEC Release 34- 70073, as discussed in Q&A 8 of the related FAQ issued by SEC staff. The Company I) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, 2) did not carry accounts of customers of or for customers, and 3) did not carry P AB accounts (as defined in Rule l Sc3-3) throughout the period ending December 31, 2023, without exception. {19}------------------------------------------------ ![](_page_19_Picture_0.jpeg) # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Director and Member Equapath Capital, LLC We have reviewed management's statements, included in the accompanying Rule 15c3-3 Exemption Report pursuant to SEC Rule 17a-5, in which Equapath Capital, LLC (the Company): - 1) did not claim an exemption under paragraph (k) of 17 C.F.R. \$240.15c3-3, and - 2) is filing this Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240. l 7a-5 because the Company limits its business activities exclusively to private placements, mergers and acquisitions advisory services, fairness opinions, and commission sharing for business referred to other broker-dealers in accordance with the requirements of paragraphs (a) or (b)(2) of Rule 15c2-4. 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 I5c2-4 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 proprietary accounts for broker dealers (PAB accounts) (as defined in Rule 15c3-3) throughout the most recent fiscal period without exception. The Company'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 the Company'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. TPS Thayer, LLC Sugar Land, Texas March 18, 2024 www.tpscpas.com 1600 Highway 6, Suite 100 ] Sugar Land, TX 77478 ] T. 281.552.8430 ] F: 281.552.8431 {20}------------------------------------------------ ![](_page_20_Picture_0.jpeg) # Exemption Report Equapath Capital, LLC Equapath Capital, LLC (the "Company") is a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. ))Section 240.17a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R. Section 240.17a-5(d)(l) and (4). To the best of its knowledge and belief, the Company states the following: - (1) The Company does not claim an exemption under paragraph (k) of 17 C.F.R. Section 240.15c3-3, and - (2) The Company is filing this Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting requirements to 17 C.FR. Section 240.17a-5 because the Company limits its business activities exclusively to private placements of securities (excluding EB-5 and Regulation A+) and the Company (1) 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; (2) did not carry accounts of or for customers; and (3) did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception. I, Robert D. Rubin, hereby affirm that, to the best of my knowledge and belief, this 5empop Perot is teand creet **sy. DNt** Robert D. Rubin CEO Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.