# FUSION PARTNERS GLOBAL LLC X-17A-5 (2025-08-13) — Broker-dealer annual report - Company: FUSION PARTNERS GLOBAL LLC - Form: X-17A-5 - Filed: 2025-08-13 - Period: 2025-06-30 - Accession: 0002013816-25-000094 - CIK: 1726589 - File #: 8-70064 - Type: Broker-dealer - Material weakness: No - Auditor: Nawrocki Smith LLP - Auditor location: Hauppauge, NY - Contact: Ilina Stamova - Phone: 212-668-8700 - Email: istamova@acisecure.com - Website: acisecure.com - Signed by: Karen D. Gephardt (Founder & Managing Director) Original filing: https://www.sec.gov/Archives/edgar/data/1726589/000201381625000094/fusionauditfinal.pdf --- {0}------------------------------------------------ ## UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 sec file number 8-70064 # ANNUAL REPORTS FORM X-17A-5 PART III | Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | FACING PAGE | | | |-------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|-----------------|--------------------------------------------| | | 07/01/2024 | | 06/30/2025 | | FILING FOR THE PERIOD BEGINNING | MM/DD/YY | AND ENDING | MM/DD/YY | | | A. REGISTRANT IDENTIFICATION | | | | NAME OF FIRM: Fusion Partners Global, LLC | | | | | TYPE OF REGISTRANT (check all applicable boxes):
ച 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.) | | | | | 205 East 59 St, Suite 12B | | | | | | (No. and Street) | | | | New York | NY | | 10022 | | (City) | (State) | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | Ilina 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*
Nawrocki Smith LLP | | | | | | (Name - if individual, state last, first, and middle name) | | | | 100 Motor Parkway, Suite 580 Hauppauge | | NY | 11788 | | (Address)
03/04/2009 | (City) | (State)
3370 | (Zip Code) | | (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 | I Karen D. Gephardt | | | | | swear (or affirm) that, to the best of my knowledge and belief, the | | |------------------------|--|-------|----------------------------------------------------------------------------------|--|---------------------------------------------------------------------|-------| | | | | financial report pertaining to the firm of Fusion Partners Global, LLC | | | as of | | 6/30 | | า 025 | is true and correct further swear (or affirm) that neither the company nor any | | | | rue and correct. I further swear (or affirm) that neither the company partner, officer, director, or equivalent person, as the case may proprietary interest in any account classified solely as that of a customer. Signature: Title: Founder & Managing Director Notary Public ## This filing\*\* contains (check all applicable boxes): - (a) Statement of financial condition. - (b) Notes to consolidated statement of financial condition. - □ (c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of comprehensive income (as defined in § 210.1-02 of Regulation S-X). - □ (d) Statement of cash flows. - □ (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - □ (f) Statement of changes in liabilities subordinated to claims of creditors. - □ (g) Notes to consolidated financial statements. - □ (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - □ (i) Computation of tangible net worth under 17 CFR 240.18a-2. - □ (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - □ (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - □ (l) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. - □ (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - □ (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable. - □ (o) Reconciliations, including apropriate 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. - (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 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. - | - (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. {2}------------------------------------------------ ## Fusion Partners Global, LLC Statement of Financial Condition as of June 30, 2025 and Report of Independent Registered Public Accounting Firm This report is pursuant to Rule 17a-5(e)(3) under the Securities Exchange Act of 1934 as a Public Document. {3}------------------------------------------------ Fusion Partners Global, LLC ## Table of Contents As of and for the Year Ended June 30, 2025 | Report of Independent Registered Public Accounting Firm | | |---------------------------------------------------------|-----| | Statement of Financial Condition | | | Notes to Financial Statement | 3-6 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ## REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member of Fusion Partners Global, LLC: ## Opinion on the Financial Statement We have audited the accompanying statement of financial condition of Fusion Partners Global, LLC (the "Company") as of June 30, 2025, and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of Fusion Partners Global, LLC as of June 30, 2025 in conformity with accounting principles generally accepted in the United States of America. ## Basis for Opinion This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statement based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the U.S. Securities and Exchange Commission ("SEC") 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 Fusion Partners Global, LLC's auditor since 2024. Hauppauge, New York August 12, 2025 Nawrocki Smith I J P {5}------------------------------------------------ ## Statement of Financial Condition June 30, 2025 ## ASSETS | Cash
Accounts receivable
Prepaid expenses
Fixed Assets
Other assets | ക്ക | 102,879
46,074
37,040
794
198 | |---------------------------------------------------------------------------------|-----|-------------------------------------------| | TOTAL ASSETS | S | 186,985 | | LIABILITIES AND MEMBER'S EQUITY | | | | LIABILITIES:
Accounts payable and accrued expenses | | 30,570 | | TOTAL LIABILITIES | | 30,570 | | MEMBER'S EQUITY | | 156,415 | | TOTAL LIABILITIES AND MEMBER'S EQUITY | ക | 186,985 | See Notes to Accompanying Financial Statement. {6}------------------------------------------------ Notes to Financial Statement June 30, 2025 #### NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS Fusion Partners Global, LLC (the "Company") is a Limited Liability Company that was formed in New York on November 26, 2017. The Company is a registered broker-dealer with the U.S. Securities and Exchange Commission ("SEC"), the Financial Industry Regulatory Authority ("FINRA") and the Securities Investor Protection ("SIPC") as of May 11, 2018. The firm operates in New York City and is limited to raising capital for private placements in various asset management entities. ### NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES #### Basis of Presentation The accompanying financial statement has been prepared on the accrual basis of accordance with accounting principles generally accepted in the United States of America ("GAAP"). #### Accounts Receivable The Company's accounts receivable consists primarily of amounts due from private placement fees. The Company follows 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 rredit loss ("CECL") methodology to estimate expected credit losses over the entire life of the financial at inception or purchase. Under the accounting update, the Company has the are no expected credit losses in certain circumstances. The allowance for credit losses is based on the Company's expectation of financial instruments carried at amortized cost, including fees receivable utilizing the CECL framework. The Company considers factors such as historical experience, credit quality, age of balances and current and future economic conditions that may affect the Company's expectation of the allowance for credit losses. The Company's expectation is that the crecit risk associated with fees receivables is not significant until they are not 90 days past due on the contractual arrangement and expectation in accordance with industry standards. As of June 30, 2024, there are no fees receivable that are in excess of 90 days past due. Management does not believe that an allowance is required as of June 30, 2025. #### Revenue and Expense Recognition The Company recognizes revenue in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("ASC Topic 606"). ASC Topic 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 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) delermine the transaction price, (d) allocate the transaction price to the performance obligations in the contract, and (e) recognize revenue when (or as) the entity salisfies a performance obligation. In determining the transaction price, an entity may include variable 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 various asset management entities. Revenues can be earned in multiple ways pursuant to the underlying contracts. One manner in which fees can be earned is from the ongoing portion of management fees earned quarterly based upon assets under management at the fund. The other way the Company can earn fees is upon the successful placement of funds. Revenue is recognized when the obligation is met and funds have successfully been raised for its customers. In addition, the Company may earn payments for ongoing advisory and consulting services 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 Company is contracted to earn in accordance with its agreements. On occasion the Company may receive compensation in the form of securities, which are recognized at the transaction Such compensation is recognized in accordance with ASC Topic 606. {7}------------------------------------------------ Notes to Financial Statement Year Ended June 30, 2025 ### NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES #### Revenue and Expense Recognition (continued) Disaggregation of Revenue The Company's revenues, for the year ended June 30, 2025, originated from private placement fees, and consulting 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 he cash is received. Contract assets are reported in the statement of financial condition. As of June 30, 2025, 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 with the contract is recognized when the performance obligation is satisfied. As of June 30, 2025, there were no contract liabilities. #### Income Taxes The Company is a single member limited liability company that is deemed to be a disregarded entity for income tax purposes. The taxable income or loss of the Company is allocated to its member. The Company's subject to the New York City Unincorporated Business Tax ("UBT"). As the liability associated with the result of the operations of the Company. the UBT, which is calculated using currently enacted tax laws and rates, is reflected on the Company, in accordance with the FASB ASC 740. Income Taxes. This Topic requires the consolidated current and deferred tax expense (benefit) for a group that files a consolidated tax return to be allocated among the members issue separate financial statement. For the year ended June 30, 2025, the Company had no allocated portion of UBT. The Company accounts for uncertainties in income taxes under the provisions of FASB ASC 740-10-05, "Accounting for Uncertainty in Income Taxes." The ASC clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements. The ASC prescribes a recognition threshold and measurement recognition and measurement of a tax position taken or expected to be taken in a tax return. The ASC provides guidance on de-recognition, classification, interest and peralties, accounting in interim periods, disclosure and transition. At June 30, 2025, the Company had no material unrecognized tax and no uncertain tax positions. The Company's conclusions regarding uncertain tax positions may be subject to review and adjustment at a later dated upon ongoing analyses of tax laws, requlations thereof as well as other factors. Generally, federal and state authorities may examine the Company's income tax returns for three years from the date of filing. ### Use of Estimates The preparation of financial statement and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and the disclosure of contingent assets and liabilities at the date of the financial statement, and the reported amounts of income and expenses during the reporting period. Accordingly, actual results could differ from those estimates and such differences could be material. {8}------------------------------------------------ Notes to Financial Statement Year Ended June 30, 2025 ### NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) FASB Accounting Standards Updated ("ASU") 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, generally requires entities to measure equity investments (other than equily method investments, controlling financial in consolidation of the investee and certain other investments) at fair value and recognize any changes in fair value in net income. entities will be able to elect a measurement alternative for equity investments that do not have readly determinable fair values and do not qualify for the practical expedient in ASC 820 to estimate fair value using the net asset value (NAV) per share. Pursuant to ASU 2016-01, the Company has macounting policy election to measure certain equity securities without readly determinable fair value at cost, less any impairment, adjusted for any changes resulting from observable price changes in orderly transactions for the identical or a similar investment. #### Recent Accounting Pronouncements The Company has determined that no recently issued accounting pronouncements will have a material impact on its financial position results of operations and cash flows, or do not apply to its operations. ### NOTE 3 - CONCENTRATIONS OF CREDIT RISK #### Cash The Company maintains principally all cash balancial institution which, at times, may exceed the amount insured by the Federal Deposit Insurance Corporation. 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 June 30, 2025 the amount in excess of the FDIC limit was \$0 #### Revenue During the year ended June 30, 2025, two customers accounted for 74% and 26% of the total revenue. #### Accounts Receivable During the year ended June 30, 2025, two customers accounted for 54% and 46% of the accounts receivable. #### NOTE 4 - LEASES The Company follows the provisions of ASC Topic 842 for lease accounting. The Company has currently sub-leased an office space from the Managing Member on an annual basis in New York City. The lease is classified as an operating lease. The Company has elected the short-term lease exception and therefore only recognizes right-of-use assets and leases with a term greater than one year. For the year ended June 30, 2025, \$24,000 of expenses were incurred related to thish is included within Occupancy Expenses on the Statement of Operations. 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 maximum potential amount of future payments that the Company could be required to make under these indemnifications cannot be company believes that it is unlikely it will have to make material payments and has not recorded any contingent liability in the financial statement for these indemnifications. The Company provides representations and warranties in connection with a variety of commercial transactions and occasionally indemnifies them against potential losses caused by the breach of those representations and warranies. 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 of future payments that the Company could be required to make undemnifications cannot be estimated. However, the Company believes that it is unlikely it will have to make material payments und has not recorded any contingent liability in the financial statement for these indemnifications. {9}------------------------------------------------ Notes to Financial Statement Year Ended June 30, 2025 #### NOTE 6 - NET CAPITAL REQUIREMENTS The Company is subject to the Securities and Exchange Commission Uniform Net Capital Rule (SEC Rule 153-1), which requires the maintenance of minimum net capital, and requires that the ratio of aggregate indebtedness to net capital, 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 June 30, 2025, the Company had net capital of \$73,103 which was \$68,103 in excess of its required net capital of \$5,000; and the Company's percentage of aggregate indebtedness to net capital was approximately 41.82%. #### NOTE 7 – EXEMPTION FROM RULE 15c3-3 The Company is exempt from the provisions of Rule 15c3-3 under the Securities and Exchange Act of 1934. The Company does not hold customers' cash or securities and, therefore, has no obligations under the Securities Exchange Act of 1934. #### NOTE 8 - COMMITMENTS AND CONTINGENCIES There were no commitments and contingencies as on June 30, 2025 #### NOTE 9 - SEGMENT REPORTING The Company follows ASC 280, Segment Reporting (including adoption of ASU 2023-07), which requires to disclose segment data based on how management makes decisions about allocating resources to segments and evaluating performance. The Company conducts its business activities and results as a single reportable segment, the brokerage services segment. Using the management approach, qualitative criteria established by ASC 280, the Company is considered to be a single reportable segment. The Chief Operating Decision Maker ("CODM") makes decisions about allocating resources and assessing performance in a manner consistent with the way the Company operates their financial results. The nature of business and accounting policies of the brokerage services segment are the same as a mature of business and summary of significant accounting policies. ### NOTE 10 - SUBSEQUENT EVENTS Management has evaluated the Company's events and transactions that occurred subsequent to June 30, 2025 through August 12, 2025, the date which the financial statement was available to be issued. There were no other events or transactions that occurred during this period that materially impacted the amounts or disclosures in the Company's financial statement. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.