Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 228

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 228
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 when the Company has recognized revenue prior to payment but the Company’s right to payment is conditional on something other than the passage of time. Alternatively, when payment precedes the provision of the related services, the Company records deferred revenues (a contract liability) until the performance obligations are satisfied. As of December 31, 2023 and 2022, the Company had receivables from contracts with customers totaling approximately $8.9 million and $8.6 million, respectively. The opening balance of receivables from contracts with customers was approximately $10.0 million as of January 1, 2022. As of December 31, 2023, December 31, 2022, and January 1, 2022, the Company had no liabilities from contracts with customers. Interest and Other Income The Company earns interest income from client margin accounts and cash equivalents. This revenue is not generated from contracts with customers. Additionally, the Company receives marketing fees and sponsorship income.

| 5. | DUE FROM CLEARING BROKER AND CLEARING DEPOSIT |

PKSI, CLS and WEG clear customer transactions through a clearing broker and, therefore, they operate pursuant to exemptions contained in Rule 15c3-3 of the Securities and Exchange Act of 1934. As of December 31, 2023 and 2022 , clearing deposits, which are included in other assets on the consolidated statements of financial condition and receivables due from clearing brokers were as follows (in thousands):

| ​      
 ​      
 ​      
 ​      
 Entity | ​ 
 ​ 
 ​ 
 ​ | ​        
 2023     
 ​        
 Clearing 
 Deposit  |   ​ 
   ​ | ​ 
 ​ 
 ​ | ​        
 Due from 
 Clearing 
 Broker   |   ​ | ​ 
 ​ 
 ​ 
 ​ | ​        
 2022     
 ​        
 Clearing 
 Deposit  |   ​ 
   ​ | ​ 
 ​ 
 ​ | ​        
 Due from 
 Clearing 
 Broker   |   ​ |
|:-------|:--|:---------|----:|:--|:---------|----:|:--|:---------|----:|:--|:---------|----:|
| PKSI   | ​ | $        | 519 | ​ | $        | 373 | ​ | $        | 326 | ​ | $        | 406 |
| CLS    | ​ |          | 180 | ​ |          | 214 | ​ |