# EDEN GLOBAL CAPITAL PARTNERS LLC X-17A-5 (2024-03-27) — Broker-dealer annual report - Company: EDEN GLOBAL CAPITAL PARTNERS LLC - Form: X-17A-5 - Filed: 2024-03-27 - Period: 2023-12-31 - Accession: 0002013816-24-000008 - CIK: 1848400 - File #: 8-70671 - Type: Broker-dealer - Material weakness: No - Auditor: BDO USA, P.C. - Auditor location: Chicago, IL - Contact: Ilina Stamova - Phone: 212-668-8700 - Email: istamova@acisecure.com - Website: acisecure.com - Signed by: Reuben Kopel (Managing Director/ CCO) Original filing: https://www.sec.gov/Archives/edgar/data/1848400/000201381624000008/edengcppublicaudit.pdf --- {0}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235-0173 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 ## ANNUAL REPORTS FORM X-17A-5 PART III | SEC FILE NUMBER | | |-----------------|--| | 8-70671 | | 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 01/01/23 MM/DD/YY AND ENDING 12/31/23 MM/DD/YY A. REGISTRANT IDENTIFICATION # NAME OF FIRM EDEN GLOBAL CAPITAL PARTNERS LLC TYPE OF REGISTRANT (check all applicable boxes): Broker-dealer □ Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) ## 445, Park Avenue, 5th floor | (No. and Street) | | | | | | | | |--------------------------------------------------------------------------------------------|------------------------------------------|-----------------|------------------------|--|--|--|--| | New York | NY | | 10022 | | | | | | (City) | (State) | | (Zip Code) | | | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | | | llina Stamova | (212)-668-8700 | | istamova@acisecure.com | | | | | | (Name) | (Area Code - Telephone Number) | (Email Address) | | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
BDO USA, P.C. | | | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | | | | | | 330 N. Wabash Avenue, Suite 3200 Chicago | = | 60611 | | | | | | (Address) | (City) | (State) | (Zip Code) | | | | | | 10/08/2003 | | 243 | | | | | | (Date of Registration with PCAOB)(if applicable) (PCAOB Registration Number, if applicable) ## FOR OFFICIAL USE ONLY \* Claims for exemption from the requirement that the annual 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 | Reuben Kopel | | | | swear (or affirm) that, to the best of my knowledge and belief, the | | | |-------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------|------------|---------------------------------------------------------------------|--|--| | | | tinancial report pertaining to the firm of Eden Global Capital Partners, LLC | | as of | | | | 12/31 | | | | 2 023 | | | | 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. | JOEL C. SIMON
Nolary Public - State of New York
No. 02SI6400814
Qualified in Queens County | | 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. t.ly Commission Expires November 25, 2027 - □ (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, 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 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 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}------------------------------------------------ ## **Eden Global Capital Partners LLC** **Statement of Financial Condition** **Year Ended December 31, 2023** **With Report of Independent Registered Public Accounting Firm** {3}------------------------------------------------ #### **Eden Global Capital Partners LLC** #### Table of Contents Year Ended December 31, 2023 | Report of Independent Registered Public Accounting Firm | 1 - 2 | |---------------------------------------------------------|-------| | Statement of Financial Condition | 3 | | Notes to Financial Statements | 4 - 6 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) Tel: 305-381-8000 Fax: 305-374-1135 **www.bdo.com** **Report of Independent Registered Public Accounting Firm** To the Board of Directors and Member of Eden Global Capital Partners, LLC New York, New York ## **Opinion on Financial Statement** We have audited the accompanying statement of financial condition of Eden Global Capital Partners, LLC (the "Broker-Dealer") as of December 31, 2023, and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Broker-Dealer at December 31, 2023, in conformity with accounting principles generally accepted in the United States of America. ## **Basis for Opinion** This financial statement is the responsibility of the Broker-Dealer's management. Our responsibility is to express an opinion on the Broker-Dealer'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. ## **Emphasis of Matter – Customer Concentration** During 2023, the Company's revenue was derived from one customer. Our opinion is not modified with respect to this matter. BDO USA, P.C., a Virginia professional corporation, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. {5}------------------------------------------------ ![](_page_5_Picture_0.jpeg) ## **Emphasis of Matter – Going Concern** The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company does not have sufficient cash and working capital to sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. We have served as the Broker-Dealer's auditor since 2023. Miami, Florida March 26, 2024 {6}------------------------------------------------ December 31, 2023 Statement of Financial Condition #### **ASSETS** | Cash
Prepaid expenses
Other assets | \$
291,731
44,864
4,269 | |------------------------------------------------------|----------------------------------| | TOTAL ASSETS | \$
340,864 | | LIABILITIES AND MEMBER'S EQUITY | | | LIABILITIES
Accounts payable and accrued expenses | \$
25,000 | | TOTAL LIABILITIES | 25,000 | | MEMBER'S EQUITY | 315,864 | | TOTAL LIABILITIES AND MEMBER'S EQUITY | \$
340,864 | See Notes to Accompanying Financial Statement. {7}------------------------------------------------ Notes to Financial Statement Year Ended December 31, 2023 #### **NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS** Eden Global Capital Partners LLC (the "Company") is a wholly owned subsidiary of Eden Global Partners LLC ("the "Member") and is a Limited Liability Company that was formed in New York on February 10, 2021. The Company is a registered broker-dealer with the Securities and Exchange Commission ("SEC"), and is a member of the Financial Industry Regulatory Authority ("FINRA") and the Securities Investor Protection Corporation ("SIPC"). The Company's FINRA membership became effective January 14, 2023. The firm operates in New York City and is limited to raising capital for private placements in various asset management entities. The Company does not carry securities accounts for its customers nor does it provide custodial functions related to those securities, and it is also filing an Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5. The Company reported a net loss for the year ended December 31, 2023, and has cash of \$291,731 as of December 31, 2023. Cash used by operating activities during the year ended amounted to \$1,343,627, and cash provided by financing activities amounted to \$700,000. This raises substantial doubt about the Company's ability to continue as a going concern. Management plans include procuring additional revenue generating customers during 2024. The Company's member also indicated its willingness to provide financial support to the Company in order to meet its short and long-term obligations. The financial statements have been prepared assuming that the Company will continue as a going concern and do not include any adjustments that might result from the outcome of this uncertainty. #### **NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** #### **Basis of Presentation** The Accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (" U.S. GAAP"). #### **Use of Estimates** The preparation of financial statements and related disclosures in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on management's knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results. #### **Cash** The Company maintains principally all cash balances in one financial institution which, at times, may exceed the amount insured by the Federal Deposit Insurance Corporation ("FDIC") of \$250,000 per depositor, per institution. The exposure to the Company is solely dependent upon daily bank balances and the strength of the financial institution. The Company has not incurred any losses on this account. As of December 31, 2023, the amount in excess of the FDIC limit was \$41,731. #### **Accounts Receivable** The Company's accounts receivable consists of amounts due from private placements. There are none at December 31, 2023. The Company follows Accounting Standards Codification ("ASC") 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 asset, recorded at inception or purchase. Under the accounting update, the Company has the ability to determine there are no expected credit losses in certain circumstances. 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. {8}------------------------------------------------ Notes to Financial Statement Year Ended December 31, 2023 #### **NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)** #### **Accounts Receivable (continued)** 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 fees receivables is not significant until they are 90 days past due on the contractual arrangement and expectation of collection in accordance with industry standards. Management does not believe that an allowance is required as of December 31, 2023. #### **Revenue** The Company recognizes revenue in accordance with Financial Accounting Standards Board ("FASB") ASC 606, Revenue from Contracts with Customers. ASC 606 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. 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. #### *Private Placement Fees* The Company engages in private placement services for private companies. Revenues are earned upon the successful placement of funds in accordance with the terms of their contract under normal trade terms. The Company may also earn success fees that are recognized and payable on the closing date (the date on which the buyer purchases the securities from the seller) for the portion the Company is contracted to earn in accordance with its agreements. #### *Disaggregation of Revenue* The Company's revenue, for the year ended December 31, 2023, originated from private placement fees. #### *Contract Balances* Contract assets 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 either it becomes a receivable or the cash is received. Contract assets are reported in the statement of financial condition. As of December 31, 2023, there were no contract assets. 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 revenue associated with the contract is recognized when the performance obligation is satisfied. As of December 31, 2023, there were no contract liabilities. #### **Income Taxes** The Company is a single-member LLC that is wholly owned by the Member. As a result, the Company is a disregarded entity and no separate income tax returns are required. Instead, the Company's results are combined with both Eden Global Advisors LLC (a company related through common ownership and another single member LLC) into its member's income tax return, which files a 1065 as a partnership. Accordingly, no provisions for income taxes are recorded in these financial statements. Further, there are no uncertain tax positions to consider for the Company. {9}------------------------------------------------ Notes to Financial Statement Year Ended December 31, 2023 #### **NOTE 3 – RELATED PARTY TRANSACTIONS** The Company has entered into an expense sharing agreement with the Member. Under the terms of the expense sharing agreement, expenses incurred by the Member on behalf of the Company are allocated at cost. The basis of allocating expenses is based upon applicable expenses incurred by the Company and include salaries, payroll taxes, rent and technology costs. #### **NOTE 4 – LEASES** The Company follows the provisions of ASC 842 for lease accounting through an expense sharing agreement. The Company currently subleases office space from the Member on a month-to-month basis in New York City and has determined no agreements exist that would classify as a lease under the adopted guidance. The Company has no immediate plans to occupy any additional office space. #### **NOTE 5 - INDEMNIFICATIONS** In the normal course of its business, the Company indemnifies and guarantees certain service providers against specified potential losses in connection with their acting as an agent of, or providing services to, the Company. The maximum potential amount of future payments that the Company could be required to make under these indemnifications cannot be estimated. However, the Company believes that it is unlikely it will have to make material payments under these arrangements and has not recorded any contingent liability in the financial statements for these indemnifications. The Company provides representations and warranties to counterparties in connection with a variety of commercial transactions and occasionally indemnifies them against potential losses caused by the breach of those representations and warranties. The Company may also provide standard indemnifications to some counterparties to protect them in the event additional taxes are owed or payments are withheld, due either to a change in or adverse application of certain tax laws. These indemnifications generally are standard contractual terms and are entered into in the normal course of business. The maximum potential amount of future payments that the Company could be required to make under these indemnifications cannot be estimated. However, the Company believes that it is unlikely it will have to make material payments under these arrangements and has not recorded any contingent liability in the financial statements for these indemnifications. #### **NOTE 6 – NET CAPITAL REQUIREMENTS** The Company is subject to the Securities and Exchange Commission Uniform Net Capital Rule (SEC Rule 15c3-1), which requires the maintenance of minimum net capital, and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. SEC Rule 15c3-1 also provides that capital may not be withdrawn or cash dividends paid if the resulting net capital ratio would exceed 10 to 1. Net capital and aggregate indebtedness change day to day, but on December 31, 2023, the Company had net capital of \$266,731 which was \$261,731 in excess of its required net capital of \$5,000; and the Company's percentage of aggregate indebtedness to net capital was approximately 9.37%. #### **NOTE 7 – SUBSEQUENT EVENTS** Management has evaluated the Company's events and transactions that occurred subsequent to December 31, 2023 through March 26, 2024 the date which the financial statements were available to be issued. During this period the Company received revenues from one customer in relation to capital raising. Subsequently to that transaction, the Company distributed profits in the amount of \$3,500,000 to the Parent. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.