Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 216

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 216
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 ● | 2,000,000 shares of Series A Preferred Stock, par value $0.0001 per share, 1,536,400 shares issued and outstanding as of September 30, 2024; and |

| ● | 500,000 shares of Series B Preferred Stock, par value $0.0001 per share, 150,000 shares issued and outstanding as of September 30, 2024; and |

| ● | 55,000,000 shares of Common Stock, par value $0.0001 per share, 16,602,460 shares issued and outstanding as of September 30, 2024. |

| 16. | NET CAPITAL REQUIREMENTS |

The Company operates four registered broker-dealers that are subject to the SEC Uniform Net Capital Rule (Rule 15c3-1). This requires the Company to maintain certain minimum net capital requirements. As of and for the periods ended September 30, 2024 and December 31, 2023, all broker-dealers had net capital in excess of the required minimums.

| 17. | CREDIT RISK AND CONCENTRATIONS |

Financial instruments that subject the Company to credit risk consist principally of receivables and cash and cash equivalents. The Company performs certain credit evaluation procedures and does not require collateral for financial instruments subject to credit risk. The Company believes that credit risk is limited because the Company routinely assesses the financial strength of its counterparties and, based upon factors surrounding the credit risk of its counterparties, establishes an allowance for credit losses and, consequently, believes that its receivables credit risk exposure beyond such allowances is limited.

| 18. | SUBSEQUENT EVENTS |

The Company evaluated subsequent events that occurred after the balance sheet date up to November 14, 2024.

F-45

WENTWORTH MANAGEMENT SERVICES LLC DECEMBER 31, 2023 AND 2022 TABLE OF CONTENTS

| ​                                                     | ​            |
| ​                                                     | Page         |
| INDEPENDENT AUDITOR’S REPORT                          | F-47         |
| CONSOLIDATED FINANCIAL STATEMENTS                     | ​            |
| Consolidated Statements of Financial Condition        | F-48         |
| Consolidated Statements of Operations                 | F-49         |
| Consolidated Statements of Changes in Members’ Equity | F-50         |
| Consolidated Statements of Cash Flows                 | F-51         |
| Notes to the Consolidated Financial Statements        | F