# EDGAR Filing Document

**Accession Number:** 0001783743
**File Stem:** 0001783743-23-000001
**Filing Date:** 2023-2
**Character Count:** 18248
**Document Hash:** faedb6ea0a07e18df7c30c6dc82b9b54
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001783743-23-000001.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001783743-23-000001

**CONFORMED SUBMISSION TYPE**: X-17A-5

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**EFFECTIVENESS DATE**: 20230228

**PERIOD START**: 20220101

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HUDSONWEST LLC
- **CENTRAL INDEX KEY:** 0001783743
- **IRS NUMBER:** 834052338
- **STATE OF INCORPORATION:** CO
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** X-17A-5
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 008-70384
- **FILM NUMBER:** 23687084

**BUSINESS ADDRESS:**
- **STREET 1:** 255 SAINT PAUL ST
- **STREET 2:** #207
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80206
- **BUSINESS PHONE:** 9522011791

**MAIL ADDRESS:**
- **STREET 1:** 255 SAINT PAUL ST
- **STREET 2:** #207
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80206

### Attached PDF Documents

**Attachment 1:** `X17A5IIIPublic.pdf`

# UNITED STATES

# SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

OMB APPROVAL

OMB Number: 3235-0123

Expires: Oct. 31, 2023

Estimated average burden

hours per response: 12

# ANNUAL REPORTS

# FORM X-17A-5

# PART III

SAMPLE NUMBER

8-70384

# 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 1/1/2022 AND ENDING 12/31/2022

MM/DD/YY

MM/DD/YY

# A. REGISTRANT IDENTIFICATION

NAME OF FIRM: HudsonWest LLC

TYPE OF REGISTRANT (check all applicable boxes):

☑ Broker-dealer

☐ Security-based swap dealer

☐ Major security-based swap participant

☐ Check here if respondent is also an OTC derivatives dealer

ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.)

255 Saint Paul St #207

| (No. and Street) |  |  |
| --- | --- | --- |
| Denver | CO | 80206 |
| (City) | (State) | (Zip Code) |

PERSON TO CONTACT WITH REGARD TO THIS FILING

Barry Gewolb

952.201.1791

barry.gewolb@hudson-west.com

(Name)

(Area Code - Telephone Number)

(Email Address)

# B. ACCOUNTANT IDENTIFICATION

INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*

Summit LLC

(Name - if individual, state last, first, and middle name)

999 18th Street, Suite 3000

Denver

CO

80202

(Address)

(City)

(State)

(Zip Code)

12/03/2010

5251

(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 be covered by the 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.

# OATH OR AFFIRMATION

I, Barry Gewolb, swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of HudsonWest LLC, as of 12/31, 2022, is true and correct. I further swear (or affirm) that neither the company nor any 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.

![img-0.jpeg](img-0.jpeg)

![img-1.jpeg](img-1.jpeg)

![img-2.jpeg](img-2.jpeg)

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.
(1) 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 capital or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, 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 report or 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 exist or 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.

Filed as PUBLIC information pursuant to Rule 17a-5(d) under the Securities Exchange Act of 1934.

# HUDSONWEST LLC

Financial Statements

As of December 31, 2022

In accordance with Rule 17A-5(d)

![img-3.jpeg](img-3.jpeg)

**Summit LLC**  
Certified Public Accountants  
999 18th Street • Suite 3000  
Denver, CO 80202

# HUDSONWEST LLC

# TABLE OF CONTENTS

|  | Page(s) |
| --- | --- |
| Independent Registered Public Accounting Firm's Report | 3 |
| Statement of Financial Condition | 4 |
| Notes to Financial Statements | 5 |

Summit LLC
Certified Public Accountants

Summit LLC
Certified Public Accountants
999 18th Street • Suite 3000
Denver, CO 80202

# REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Members
of HudsonWest LLC

# Opinion on the Financial Statement

We have audited the accompanying statement of financial condition of HudsonWest LLC as of December 31, 2022, and the related notes (collectively referred to as the financial statement). In our opinion, the statement of financial condition presents fairly, in all material respects, the financial position of HudsonWest LLC as of December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

# Basis for Opinion

This financial statement is the responsibility of HudsonWest LLC management. Our responsibility is to express an opinion on HudsonWest LLC'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 HudsonWest LLC 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 statements. 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 statements. We believe that our audit provides a reasonable basis for our opinion.

We have served as HudsonWest LLC's auditor since 2020.

Denver, Colorado
February 8, 2022

3

# HUDSONWEST LLC

# STATEMENT OF FINANCIAL CONDITION
DECEMBER 31, 2022

# ASSETS

| Cash | $ | 115,497 |
| --- | --- | --- |
| Fee income receivables |  | - |
| Prepaid assets |  | - |
|  | $ | 115,497 |

# LIABILITIES AND MEMBERS' EQUITY

LIABILITIES:

| Accounts payable and accrued expenses | $ | 1,747 |
| --- | --- | --- |
| Total liabilities |  | 1,747 |

COMMITMENTS AND CONTINGENCIES (Notes 4, 5 and 6)

MEMBERS' EQUITY (Note 3):

| Members' interests |  | 123,006 |
| --- | --- | --- |
| Accumulated deficit |  | (9,256) |
| Total members' equity |  | 113,750 |
|  | $ | 115,497 |

4

HUDSONWEST LLC

# NOTES TO FINANCIAL STATEMENTS

# **NOTE 1 - BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

# **Organization and Business**

HudsonWest LLC (the “Company”) was incorporated as a limited liability company in the state of Colorado on March 20, 2019. The Company’s primary activity is rendering corporate financial advisory services to selected clients. Such advisory services typically involve advice with respect to equity-linked financings and equity-linked derivative transactions. The Company commenced operations in February of 2020 and registered with the Securities and Exchange Commission and Financial Industry Regulatory Authority, Inc. as a Capital Acquisition Broker broker-dealer on February 18, 2020.

The Company, under rule 15c3-3 and Footnote 74, is exempt from the customer reserve and possession or control requirements of rule 15c3-3 of the Securities and Exchange Commission. The Company does not carry or clear customer transactions.

# **Revenue Recognition**

Revenues are recognized when earned and arise from financial advisory services provided by the Company to its clients. Such revenue and fees are primarily recorded at a point in time when services for the transactions are completed and income is reasonably determinable, generally as set forth under the terms of the engagement. Payment for advisory services is generally due upon completion of the transaction. Retainer fees and fees earned from certain advisory services are recognized ratably over the service period as the customer receives the benefit of the services throughout the term of each contract, and such fees are collected based on the terms of each contract. All revenues in this audit period were fully earned upon completion of each related transaction.

# **Income Taxes**

The Company made an election to be taxed as a limited liability company under the Internal Revenue Code. Accordingly, there is no provision for income taxes included in the accompanying financial statements. All income and expenses are reported by the Company’s members on their respective tax returns. The 2018 through 2022 tax years generally remain subject to examination by U.S. federal and most state tax authorities.

# **Use of Estimates**

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

10

HUDSONWEST LLC

# NOTES TO FINANCIAL STATEMENTS

(Continued)

# **Fair Value Measurement**

The Financial Accounting Standards Board issued FASB ASC 820 (Accounting Standards Codification 820, “Fair Value Measurements and Disclosures”) defines fair value, establishes a framework for measuring fair value, and establishes a fair value hierarchy which prioritizes the inputs to valuation techniques. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market. Valuation techniques that are consistent with the market, income or cost approach, as specified by FASB ASC 820, are used to measure fair value. The company does not hold any positions besides cash as of December 31, 2022.

# **NOTE 2 - ADVISORY ARRANGEMENTS**

The Company earns revenues and fees from financial advisory services provided by the Company to its clients pursuant to agreements entered into from time to time with its clients.

# **NOTE 3 - NET CAPITAL AND MINIMUM CAPITAL REQUIREMENTS**

Pursuant to the net capital provisions of rule 15c3-1 of the Securities Exchange Act of 1934, the Company is required to maintain a minimum net capital, as defined under such provisions. At December 31, 2022, the Company had net capital and net capital requirements of $113,750 and $5,000, respectively. The Company’s net capital ratio (aggregate indebtedness to net capital) was .0154 to 1. According to rule 15c3-1, the Company’s net capital ratio shall not exceed 15 to 1.

# **NOTE 4 - MEMBERS' EQUITY**

The Company is a registered limited liability company in Colorado. Ownership consist of three owners with various membership interests.

# **NOTE 5 - COMMITMENTS**

The Company does not lease office space from a commercial building. The are no other commitments that the Company has entered into for the year ending December 31, 2022.

10

HUDSONWEST LLC

# NOTES TO FINANCIAL STATEMENTS

# **NOTE 6 - FINANCIAL INSTRUMENTS, RISKS AND UNCERTAINTIES**

For the year ended December 31, 2022, the Company entered into various advisory and consulting agreements with six separate and independent customers.

The Company's financial instruments, including cash, receivables, other assets and payables are carried at amounts that approximate fair value due to the short-term nature of those instruments. The Company maintains its cash in bank deposit accounts that, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts. Management believes that the Company is not exposed to any significant credit risk on cash.

The Company enters into various transactions with other companies and/or financial institutions. In the event these counterparties do not fulfill their obligations, the Company may be exposed to risk. This risk of default depends on the creditworthiness of the counterparties to these transactions. It is the Company's policy to monitor the exposure to and creditworthiness of each party with which it conducts business.

In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties that may subject the Company to litigation risk under certain circumstances. The Company's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Company that have not yet occurred. Management of the Company expects the risk of any future obligation under these arrangements to be remote.

COVID-19 has presented substantial risks to companies. Management continually assesses any risks related to COVID-19 and their impact on the operations of the Company. The Company has not identified any material impacts on operations.

# **NOTE 7 - SUBSEQUENT REVIEW**

The Company has performed an evaluation of subsequent events through February 8, 2023, which is the date the financial statements were available to be issued.

7

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM X-17A-5

### ANNUAL AUDITED REPORT

### Filer Information

**Filer CIK:** 0001783743

**Filer CCC:** XXXXXXXX

**Is this a LIVE or TEST filing?:** LIVE

**Would you like a Return Copy?:** No

### Submission Information

**Report Period Begin Date:** 01-01-2022

**Report Period End Date:** 12-31-2022

**Type of Registrant:** Broker-dealer

**Any material weaknesses identified?:** No

### Registrant Identification

**Name of Broker-Dealer:** HUDSONWEST LLC

**Business Address:** 255 SAINT PAUL ST, #207, DENVER, CO, 80206

**Contact Person:** Barry Gewolb

**Contact Phone:** 9522011791

### Independent Public Accountant Identification

**Accountant Name:** Summit LLC

**Accountant Address:** 999 18th Street, Suite 3000, Denver, CO, 80202

**Accountant Type:** Certified Public Accountant

### OATH OR AFFIRMATION

I, **Barry Gewolb**, swear (or affirm) that, to the best of my knowledge and belief, the accompanying financial statements and supporting schedules pertaining to the firm of **HUDSONWEST LLC**, as of **12-31-2022**, are true and correct.

**Signature:** Barry Gewolb

**Title:** CEO and Managing Member

**Notarized:** Yes