Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 158

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 158
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 year ended December 31, 2023 and December 31, 2022                                                | F-51 |
| Notes to Consolidated Financial Statements                                                                                                      | F-52 |

F-1

KINGSWOOD ACQUISITION CORP. INDEX TO FINANCIAL STATEMENTS

| Report of Independent Registered Public Accounting Firm (PCAOB ID No. 688) | F-3         |
| Financial Statements:                                                      | ​           |
| Balance Sheets                                                             | F-4         |
| Statements of Operations                                                   | F-5         |
| Statements of Changes in Stockholders’ Deficit                             | F-6         |
| Statements of Cash Flows                                                   | F-7         |
| Notes to Financial Statements                                              | F-8 to F-26 |

F-2

<div align='center'>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>

To the Stockholders and Board of Directors of

Binah Capital Group, Inc. (formerly “Kingswood Acquisition Corp.”)

Opinion on the Financial Statements

We have audited the accompanying balance sheets of Kingswood Acquisition Corp. (the “Company”) as of December 31, 2023 and 2022, the related statements of operations, changes in stockholders’ deficit and cash flows for each of the two years in the period ended December 31, 2023, and the related notes (collectively referred to as the “financial statements”). In our opinion, based on our audits, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023 and 2022, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2023, in conformity with accounting principles generally accepted in the United States of America.

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 audits. 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 audits in accordance with the standards of the PCAOB and in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the