# GLOBACAP PRIVATE MARKETS INC. X-17A-5 (2025-04-15) — Broker-dealer annual report - Company: GLOBACAP PRIVATE MARKETS INC. - Form: X-17A-5 - Filed: 2025-04-15 - Period: 2024-12-31 - Accession: 0002000463-25-000003 - CIK: 2000463 - File #: 8-71181 - Type: Broker-dealer - Material weakness: No - Auditor: Sanville & Company, LLC - Auditor location: Dallas, TX - Contact: Andrew Pedvis - Phone: 646-479-6743 - Signed by: Andrew Pedvis (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/2000463/000200046325000003/GlobacapPublic24.pdf --- {0}------------------------------------------------ ## **FINANCIAL STATEMENT AND REPORT OF INDEPENDENT REGISTERERED PUBLIC ACCOUNTING FIRM** ## **Pursuant to Rule 17a-5(d) of the Securities and Exchange Commission** **For the Period July 1, 2024 (date of registration) through December 31, 2024** {1}------------------------------------------------ | UNITED STATU
St:CURITIES ANO EXCHANGE COMMISSION
Washington, O.C. 20549
ANNUAL REPORTS | | | "'-
OMS Numw. 323>-0123
Elci)i:teS:Nov.30,20M
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hovtssw response: 12 | | |----------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------|---------|------------------------------------------------------------------------------------------------------------|--| | | | | | | | | FORM X-17A•S | | SEC Fill NUMBER | | | PART Ill | | | 8-71181 | | | | FACING PAGE | | | | | | Information Required Pursuant to Rules 11,-s, 11a u, and 18a-7 under the SfQ.lrltl0'\$ bc:hange Act of 1934 | | | | | | FILING FOR THE PERIOD BEGINNING 07/01 t24
AND ENDING l 2/3l l24 | | | | | | ----M-M-,-/00-c/'N-,--- | | •----M-M/--cOO-,,/'Nc--- | | | | A. REGISTRANT IDENTIFICATION | | | | | | i'IAME OF FIRM: Globacap Private Markets Inc. | | | | | TYPE Of REGISTRANT {check all applicable boxes):
■ Broker-dealer
0 | D Security-based swap dealer
Chcc;t he-141 ifrespondent lsa1so ;,n OTC dcrivatiws dealer | | D Major security-based swap participant | | | | ADDRESS OF PRINCIPAl PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | 42 Broadway, Suite 12·129 | | | | | | | (No, and Street) | | | | | New York | NY | | 10004 | | | ICltv) | (State) | | (Zip Code) | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | Andrew Pedvis | 646-479-6743 | | andrew.pedvis@globac& | | | | {Area Code- Tele:phone Numbl!f) | | (Email Address) | | | | 8. ACCOUNTANT IDENTIFICATION | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing• | | | | | Sanville & Company, LLC | | | | | | | (t.l.lme - if individual, state last,. first, and middle name> | | | | | | Dallas | TX | 75201 | | | | | (St;ne) | (Zlpc.ode) | | | | !City) | | | | | | | 169 | | | | 325 North Saint Paul St., Suite 3100
(Addr1tu>
09/18/2003
(Date of R.e1tiW1tion with PCA0Sl(lf ep,plieab!e> | FOR OFFICIAL USE ONLY | | (PCA0S R "'Stration Number if applicable) | | {2}------------------------------------------------ #### OATH OR AFFIRMATION | inancial report pertaining to th~ firm of Globacap Private Markets Inc.
. as of | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | 31
2024 , is true and eotrect. I further swear{or affirm) that neither the company Mr any
ecember
artner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely | | s that of a customer. | | | | | | | | rrtle: | | CEO | | | | | | | | is filing-•• contains (check au applicable boxes): | | (a) Statemt.nt of financial oondi11on. | | (b) Notes to COI\SOfidated statement of financial condition. | | 1 (c) Statement of income (loss) Of', if there is other comprehensive income in the pertod(s} prt\$tMtd, a statement of | | comprehensive income (as defined In§ 210.1-02 of Regulation S•.>C), | | {d) Statement of cash flows. | | (e} Statement of Changes in stockholder\$' or partnetS' or sole proprietor'\$ equitv, | | (f> Statement of changes in If.abilities subordinated to claim"\$ of Creditors. | | (g) Notes to OOI\SOlidated finarKial statements, | | (h> Computation of net capital under 17 CFR. 240.1Sc3·1 or 17 CFR 240,18a-l, as appllcable. | | (i} Computation of tangible net worth under 17 CFR 240.18&-2. | | (j} Computation for determination of customer reserve requirements pursuant to ElChibit A to 17 CFR 240.lSd-3, | | (k) Computation for determination of security-based swep iresetve requirements pursuant to Ellhlblt 8 to 17 CFR 240.15c3-3 or
Exhibit A to 17 CFR 240.18a•4, as applkable. | | (I) Computation for Determination of PA8 Requltemtnts under Exhibit A to§ 240.15C3·3, | | (m) lnf0tm~tion relating to possession or control requirements. fot CU\$100\Cr\$ under 17 CFR 240.1Sc3-l. | | (n) Information relatlng to Possmon or control requirements for security-based swap customers under 17 CFR | | 240.1Sc3•3(p)f2) or 17 CfR 240,183•4, as applicable. | | (O) RecorKiliations, t.nctudlnt appropriate explanations, oft he FOCUS Report with computation of net capital or tangible net
worth under 17 CFR 240.1Sc3•1, 17 CFR 240.18a-1, or 17 CFR 240.18.i-2, as applicable, and the rt\$e;rvC requirements under 17
CFR l40,1SC3·3 or 17 CFR 240.18:a•4, a\$ applicable, if materlal dtfferenee.s ewist, or .i, 1.tatement that no material differences
exist, | | (p) Summary of flnancial data for subsidlar!es not consolidsncd in the statement of flr\andel condition, | | (q} Oath or affirmation in accordar\Ce with 17 CFR 240.17a-S, 11 CFR 240.17a•12, or 17 CFR 240.18r7, as appUcable. | | (r> Compliance report In accordance with 17 CFR 240,173·5 or 17 CFR 240.lSa-7, as applicable. | | (s) Exemption report in acoordance with 17 CFR 240.17a-S or 17 CFR 240.l8a·7, as applicable. | | (t) Independent public ~ccountant's report based on an t)(<'lmin.ition of the statement of fln.andal coodittOn, | | (u} Independent public accountant's report based on an examination of the flnaneial ,epo,t or financial statements under 17
CFR 240,l?a•S, 17 CFR 240.18a-7, or 17 CFR 240,17a•12, as applicable. | | (v) Independent public account.a/It's rcp0rt based on an examination of certain statements in the compliance report under 17
CFR 240.17a-S or 17 CFR 2.40.18>-7, as applicable. | | lw) Independent public accountant's report based on n review of the exemption report under 17 CfR 240.17a~S or 17
CFR 240.18&-7, ;,s ;'lpplicable. | | {x) siwlemental reports on applying ayeed•uoon procedures, in accordance wfth 17 O:R 240,1Se3•1e or 17 CFR 240.17a-12,
as appllcabie. | | (y) RepOtt describing any material lnadequn<:IH found to exist or found to have e,cl\$ted since the cf.ate of the previous audit, or | | a statement t~t no material inadequacies exist, under 17 CFR 240.17r12(k). | | (z}Other: __________________________________
_ | {3}------------------------------------------------ # **TABLE OF CONTENTS** | | Page No. | |---------------------------------------------------------|-------------| | REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 1 | | FINANCIAL STATEMENT | | | Statement of Financial Condition | 2 | | Notes to Financial Statement | 3
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5 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### **Report of Independent Registered Public Accounting Firm** To the [Governance] Globacap Private Markets, Inc. #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Globacap Private Markets, Inc. (the Company) as of [Year-End], and the related notes (collectively, 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, 2024, 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 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. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. 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. This is the initial year we have served as the Company's auditor. Dallas, Texas April 15, 2025 > 325 North Saint Paul Street Suite 3100 Dallas, Texas 75201 214.738.1998 {5}------------------------------------------------ # **STATEMENT OF FINANCIAL CONDITION December 31, 2024** ### **ASSETS** | Cash | \$
556,713 | |------------------------------------------|---------------| | Prepaid expenses | 7,587 | | Total assets | \$
564,300 | | LIABILITIES AND STOCKHOLDER EQUITY | | | Accounts payable and accrued expenses | \$
118,643 | | Due to affiliate | 70,033 | | Total liabilities | 188,676 | | Paid-in-capital | 775,010 | | Accumulated deficit | (13,403) | | Net loss | (385,983) | | Total stockholder equity | 375,624 | | Total liabilities and stockholder equity | \$
564,300 | {6}------------------------------------------------ # **NOTES TO FINANCIAL STATEMENT December 31, 2024 (See Report of Independent Registered Public Accounting Firm)** ### Note 1 **Organization and nature of business** Globacap Private Markets Inc. (the "Company") was established in 2023 and is a Delaware corporation. The Company is a registered broker-dealer under the Securities Exchange Act of 1934 and is a member of Financial Industry Regulatory Authority ("FINRA") and the Securities Investor Protection Corporation ("SIPC"). The Company is approved by FINRA to operate an Alternative Trading System ("ATS") and to act as a placement agent for private placement securities. ### Note 2 **Summary of significant accounting policies** ### **Allowance for credit losses** In June 2016, the FASB issued guidance (FASB ASC 326) which significantly changed how entities will measure credit losses for most financial assets and certain other instruments that aren't measured at fair value through net income. The most significant change in this standard is a shift from the incurred loss model to the expected loss model. Under the standard, disclosures are required to provide users of the financial statements with useful information in analyzing an entity's exposure to credit risk and the measurement of credit losses. Financial assets held by the Company that are subject to the guidance in FASB ASC 326 were trade accounts. #### **Segment reporting** (FASB) introduced enhancements to segment reporting requirements for public entities, including broker-dealers.  The update aimed to improve the transparency and usefulness of financial disclosures for investors and other stakeholders.  ASU 2023-07 disclosure requirements are effective for fiscal years starting after December 15, 2023. Company management reviewed the ASU 2023-07 Disclosure requirements and determined that no additional disclosures are required as the Company has only one reportable segment.  #### **Basis of presentation** The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP"). #### **Accounts receivable** The Company carries its accounts receivable at costs less an allowance for doubtful accounts. On a periodic basis, the Company evaluates its receivables and establishes an allowance for doubtful accounts based on history of past write-offs, collections and current credit conditions. As of December 31, 2024, no allowance for credit losses was necessary. #### **Advertising** The Company expenses the cost of advertising as it is incurred. Advertising expense amounted to \$0 for the year ended December 31, 2024. {7}------------------------------------------------ # **NOTES TO FINANCIAL STATEMENT December 31, 2024 (See Report of Independent Registered Public Accounting Firm)** ### Note 2 **Summary of significant accounting policies (continued)** ### **Revenue recognition** The Company adopted ASC Topic 606, Revenue from Contracts with Customers ("ASC Topic 606"). The 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. 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. The Company had no revenues from ATS or acting as a placement agent for private securities for the period July 1, 2024 (date of registration) through December 31, 2024. Account receivable at December 31, 2024 are \$0. There are no contract assets or liabilities as of December 31, 2024. ### **Income taxes** The Company accounts for its income taxes using the Financial Accounting Standards Board Accounting Standards Codification 740, Income Taxes, which requires the establishment of a deferred tax asset or liability for the recognition of the future deductible or taxable amounts and operating loss and tax credit carry forwards. Deferred tax expenses or benefits are recognized as a result of the changes in the assets and liabilities during the year. ## **Fair value of financial instruments** The carrying amounts of financial instruments, including cash, prepaid expenses, deposits, and accounts payable and accrued expenses, approximates fair value due to the short term maturities of these assets and liabilities. ### **Use of estimates** Management uses estimates and assumptions in preparing financial statements. Those estimates and assumptions affect the reported amount of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could differ from those estimates. {8}------------------------------------------------ ## **NOTES TO FINANCIAL STATEMENT December 31, 2024 (See Report of Independent Registered Public Accounting Firm)** #### Note 3 **Net capital requirements** The Company is subject to the Securities and Exchange Commission's Uniform Net Capital Rule (Rule 15c3-1), which requires the maintenance of a minimum net capital balance and requires that the Company's aggregate indebtedness to net capital, as defined, shall not exceed 15 to 1. At December 31, 2024 the Company's net capital was \$368,037 which was \$344,452 in excess of its required net capital of \$23,585. The Company's aggregate indebtedness to net capital was 0.51 to 1. ### Note 4 **Related party transactions** The Company shares employees and technology services with its Parent under an expense sharing agreement. For the year ended December 31, 2024, the Company incurred expenses of \$153,774 related to this agreement. At December 31, 2024, the Company owed its Parent \$70,033, as shown on the Statement of financial condition as due to affiliate. ### Note 5 **Commitments and Contingencies** The Company does not have any commitments, guarantees or contingencies including arbitration or other litigation claims that may result in a loss or future obligation. The Company is not aware of any threats or other circumstances that may lead to the assertion of a claim at a future date. #### Note 6 **Subsequent events** In accordance with FASB Accounting Standards Codification 855, Subsequent Events, the Company has evaluated subsequent events to the Statement of Financial Position date of December 31, 2024 through April 15, 2025, which is the date the financial statements were issued. Management has determined that there are no subsequent events that require disclosure, except for the following: On March 20, 2025, the Company entered into a share purchase agreement to sell all shares in the Company to Archax US Holdings Co. The transaction is pending FINRA approval under FINRA Rule 1017. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.