10-K/A 1 t10ka070307.txt Amendment No. 1 to FORM 10-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the year ended 12-31-2006 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to _________ Commission file number 333-119655 TRIVIEW GLOBAL FUND, LLC (Exact name of registrant as specified in its charter) Delaware 20-1689686 State or other jurisdiction of (I.R.S. Employer incorporation or organization Identification No.) 505 Brookfield Drive, Dover, DE 19901 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (800) 331-1532 Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered None None Securities registered pursuant to Section 12(g) of the Act: Units of Membership Interest (Title of class) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [ ] No [X] Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes [ ] No [X] Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ] Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (S 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [ ] Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of "accelerated filer and large accelerated filer" in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [X] Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes [ ] No [X] State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter.: None. There is no market for the Units of Membership Interests and none is expected to develop. This is a commodity pool. The Units are registered to permit the initial sale of Units at month end net asset value. EXPLANATORY NOTE The registrant is filing this Amendment No. 1 on Form 10-K/A (the "Amendment") to its annual report on Form 10-K for the fiscal year ended December 31, 2006, originally filed April 3, 2007 (the "Annual Report"), for the purpose of making the following changes: (1) revision of financials included herein beginning on page F-1 pursuant to Item 8 herein to (a) provide three years of financial information and inception to date for the statements of operations, changes in net assets, and cash flows, and (b) provide opinions by independent accountants for all periods covered by the financial statements; and, (2) revise Item 9A to identify the changes in controls and procedures that the Managing Member has made. In addition, the registrant is also including as exhibits to this Amendment the certifications required pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002. Except as described above, this Amendment does not modify or update the Fund's previously reported financial statements and other disclosures in, or exhibits to, the original filing. Item 8. Financial Statements and Supplementary Data. The Fund financial statements meeting the requirements of Regulation S-X are provided in this Amendment beginning on page F-1. The supplementary financial information specified by Item 302 of Regulation S-K was included in Item 6. Selected Financial Data of the registrant's Annual Report. Item 9A. Controls and Procedures. In the Fund's previously-filed Annual Report on Form 10-K for the year ended December 31, 2006 (the "Annual Report"), the Managing Member of the Fund, under the actions of its sole principal, Michael Pacult, evaluated the effectiveness of the design and operation of its disclosure controls and procedures (as defined in the Securities Exchange Act of 1934 Rules 13a-15(e) or 15d-15(e)) with respect to the Fund as of December 31, 2006 and found them adequate. In May, 2007, management was informed by the SEC that its financials did not conform to SEC requirements because (1) the financials contained only two, and not three, years of financial information and inception to date for the statements of operations, changes in net assets, and cash flows, and (2) the audit opinion did not cover all financial periods stated. Because of these omissions, management has re-evaluated its prior conclusion regarding the effectiveness of the design and operation of its disclosure controls and procedures as of December 31, 2006 with respect to the Fund. Based upon Mr. Pacult's re-evaluation, conducted under Exchange Act Rule 13a-15 or 15d-15(e), he concluded that the omissions were caused by a personnel problem, were the result of obvious human error and lack of attention to detail, and that the Fund's disclosure controls and procedures were accordingly not effective as of December 31, 2006. To remediate the situation, Mr. Pacult has severely reprimanded those persons who prepared and reviewed the financial statements included in the Annual Report. Mr. Pacult accepts total responsibility for the financial statements of the Fund and filings made with the SEC, including the Annual Report and this Amendment. There have been no changes in the Managing Member's internal control over financial reporting applicable to the Fund identified in connection with the evaluation required by paragraph (d) of Exchange Act Rules 13a-15 or 15d-15 that occurred during the fourth quarter of fiscal year 2006 and through the date of this Amendment that have materially affected, or are reasonably likely to materially affect, internal control over financial reporting applicable to the Fund. Item 15. Exhibits, Financial Statement Schedules (a) The following documents are filed as part of this Amendment: 1. All Financial Statements The Financial Statements begin on page F-1 of this Amendment. 2. Financial Statement Schedules required to be filed by Item 8 of this form, and by paragraph (b) below. Not applicable, not required, or included in the Financial Statements. 2 3. List of those Exhibits required by Item 601 of Regulation S-K (sec. 229.601 of this chapter) and by paragraph (b) below. Incorporated by reference from the Fund's Registration Statement on Form S-1, and all amendments at file No. 333-119655 previously filed with the Securities and Exchange Commission. 31.1 Certification of CEO and CFO pursuant to Section 302 32.2 Certification of CEO and CFO pursuant to Section 906 (b) Exhibits required by Item 601 of Regulation S-K (sec. 229.601 of this chapter). See response to 15(a)(3), above. (c) Financial statements required by Regulation S-X (17 CFR 210) which are excluded from the annual report to shareholders by Rule 14a-3(b) including (1) separate financial statements of subsidiaries not consolidated and fifty percent or less owned persons; (2) separate financial statements of affiliates whose securities are pledged as collateral; and (3) schedules. None. SIGNATURES Pursuant to the requirements of Section 13 or 15 (d) of the Securities Exchange Act of 1934, the registrant has duly caused this Amendment No. 1 to Form 10-K for the period ended December 31, 2006, to be signed on its behalf by the undersigned, thereunto duly authorized. Registrant: TriView Global Fund, LLC By TriView Capital Management, Inc. Its Managing Member Date: July 3, 2007 By: /s/ Michael Pacult Mr. Michael P. Pacult Sole Director, Sole Shareholder President and Treasurer 3 TriView Global Fund, Limited Liability Company (A Development Stage Enterprise) INDEX TO FINANCIAL STATEMENTS Page Report of Independent Registered Public Accounting Firm F-2 Financial Statements Statements of Assets and Liabilities F-3 Statements of Operations F-4 Statements of Changes in Net Assets F-5 Statements of Cash Flows F-6 Notes to Financial Statements F-7 - F-10 Affirmation of Commodity Pool Operator F-11 F-1 Jordan, Patke & Associates, Ltd. Certified Public Accountants Report of Independent Registered Public Accounting Firm To the Members of TriView Global Fund, Limited Liability Company Dover, Delaware We have audited the accompanying statements of assets and liabilities, of TriView Global Fund, Limited Liability Company (a development stage enterprise) as of December 31, 2006 and 2005, and the related statements of operations, changes in net assets and cash flows for the years ended December 31, 2006 and 2005, the period from October 1, 2004 (date of inception) through December 31, 2004, and the cumulative period from October 1, 2004 through December 31, 2006. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. TriView Global Fund, Limited Liability Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of TriView Global Fund, Limited Liability Company internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of TriView Global Fund, Limited Liability Company as of December 31, 2006 and 2005, and the results of its operations, its changes in net assets and its cash flows for the years ended December 31, 2006 and 2005, the period from October 1, 2004 through December 31, 2004, and the cumulative period from October 1, 2004 through December 31, 2006, in conformity with accounting principles generally accepted in the United States of America. /s/ Jordan, Patke & Associates, Ltd. Jordan, Patke & Associates, Ltd. Lincolnshire, Illinois July 2, 2007 300 Village Green Drive, Suite 210 * Lincolnshire, Illinois 60069 Phone: (847) 913-5400 * Fax: (847) 913-5435 F-2 TriView Global Fund, Limited Liability Company (A Development Stage Enterprise) Statements of Assets and Liabilities December 31, 2006 2005 Assets Cash $89 $887 Reimbursable syndication costs 79,818 52,979 Prepaid operating costs and other 1,255 994 Total assets 81,162 54,860 Liabilities Accrued expenses 103 - Advances due to related parties 79,059 52,860 Total Liabilities 79,162 52,860 Net assets $2,000 $2,000 Analysis of Net Assets Members $1,000 $1,000 Managing Members 1,000 1,000 Net assets (equivalent to $1,000.00 and $1,000.00 per unit) $2,000 $2,000 Membership units outstanding Members units outstanding 1.00 1.00 Managing Members units outstanding 1.00 1.00 Total Membership units outstanding 2.00 2.00
F-3 TriView Global Fund, Limited Liability Company (A Development Stage Enterprise) Statements of Operations For the Years Ended December 31, 2006 and 2005, the Period from October 1, 2004 (Date of Inception) to December 31, 2004 and the Cumulative Period from October 1, 2004 (Date of Inception) to December 31, 2006 Period From October 1, 2004 October 1, 2004 (Inception) to Year ended December 31, to December 31, to December 31, 2006 2005 2004 2006 Investment income Total investment income $- $- $- $- Expenses Total expenses - - - - Net investment loss - - - - Realized and unrealized gain (loss) from investments and foreign currency Net realized and unrealized income from investments and foreign currency - - - - Net increase in net assets resulting from operations $- $- $- $- Net income per unit Member unit $- $- $- $- Managing member unit $- $- $- $-
F-4 TriView Global Fund, Limited Liability Company (A Development Stage Enterprise) Statements of Changes in Net Assets For the Years Ended December 31, 2006 and 2005, the Period from October 1, 2004 (Date of Inception) to December 31, 2004 and the Cumulative Period from October 1, 2004 (Date of Inception) to December 31, 2006 Period From October 1, 2004 October 1, 2004 (Inception) to Year ended December 31, to December 31, to December 31, 2006 2005 2004 2006 Increase (decrease) in net assets from operations Net investment (loss) $- $- $- $- Net realized gains from investments and foreign currency transactions - - - - Net increase in unrealized appreciation on investments and translation of assets and liabilities in foreign currencies - - - - Net increase in net assets resulting from operations - - - - Capital contributions from members - - 2,000 2,000 Distributions to members - - - - Total increase in net assets - - 2,000 2,000 Net assets at the beginning of the year 2,000 2,000 - - Net assets at the end of the year $2,000 $2,000 $2,000 $2,000
F-5 TriView Global Fund, Limited Liability Company (A Development Stage Enterprise) Statements of Cash Flows For the Years Ended December 31, 2006 and 2005, the Period from October 1, 2004 (Date of Inception) to December 31, 2004 and the Cumulative Period from October 1, 2004 (Date of Inception) to December 31, 2006 Period From October 1, 2004 October 1, 2004 (Inception) to Year ended December 31, to December 31, to December 31, 2006 2005 2004 2006 Cash Flows from Operating Activities Net increase in net assets resulting from operations $- $- $- $- Adjustments to reconcile net income to net cash (used in) operating activities: Changes in operating assets and liabilities: (Increase) in reimbursable syndication costs (26,839) (4,994) - (31,833) (Increase) in prepaid operating costs (261) (155) (6) (422) Increase in accrued expenses 103 - - 103 Net cash (used in) operating activities (26,997) (5,149) (6) (32,152) Cash Flows from Financing Activities Increase in advances from related parties 26,199 4,042 - 30,241 Initial member contributions - - 2,000 2,000 Net cash provided by financing activities 26,199 4,042 2,000 32,241 Net increase (decrease) in cash and cash equivalents (798) (1,107) 1,994 89 Cash at the beginning of the period 887 1,994 - - Cash at the end of the period $89 $887 $1,994 $89 Non-Cash Financing Activities Reimbursable syndication costs paid by and owed to related parties $- $22,099 $26,719 $48,818
F-6 TriView Global Fund, Limited Liability Company (A Development Stage Enterprise) Notes to the Financial Statements For the Years Ended December 31, 2006, 2005 and 2004 1. Nature of the Business TriView Global Fund, LLC (the Fund) was formed on October 1, 2004 under the laws of the State of Delaware. The Fund expects to engage in high risk, speculative and hedge trading of futures and forward contracts, options on futures and forward contracts, and other instruments selected by registered commodity trading advisors (CTA's). However, the Fund will not commence business until at least $2,060,000 worth of units of membership interests (the Units) are sold. The maximum offering is $50,000,000. Triview Capital Management, Inc. (Triview Capital) and Michael Pacult are the managing members and commodity pool operators (CPO's) of the Fund. The initial CTA's are expected to be NuWave Investment Corp (NuWave) and Spectrum Asset Management, LLC (Spectrum), which will have the authority to trade as much of the Fund's equity as is allocated to them by the Managing Member. The principal selling agent is Futures Investment Company (Futures), which is controlled by Michael Pacult and his wife. The Fund is in the development stage and its efforts through December 31, 2006 have been principally devoted to organizational activities. 2. Significant Accounting Policies Regulation - The Fund is a registrant (effective November 3, 2005) with the Securities and Exchange Commission (SEC) pursuant to the Securities and Exchange Act of 1934 (the Act). The Fund is subject to the regulations of the SEC and the reporting requirements of the Act. The Fund, once it begins trading, will also be subject to the regulations of the Commodities Futures Trading Commission (CFTC), an agency of the U.S. government which regulates most aspects of the commodity futures industry, the rules of the National Futures Association and the requirements of various commodity exchanges where the Fund executes transactions. Additionally, the Fund will be subject to the requirements of futures commission merchants and interbank market makers through which the Fund trades. Offering Expenses and Organizational Costs - TriView Capital has incurred $79,818 and $52,979 in offering costs through December 31, 2006 and 2005 respectively. The Fund has agreed to reimburse the Managing Member for all offering expenses incurred up to commencement of business after the twelfth month following the commencement of business. The commencement of business is contingent upon the sale of at least $2,060,000 of membership interests. All costs after the commencement of business will be paid directly by the Fund. The organization costs for the Fund will be expensed as incurred by the managing member, TriView Capital, and are expected to be immaterial. Registration Costs - Costs incurred for the initial filings with Securities and Exchange Commission, National Association of Securities Dealers, Inc. and the states where the offering is expected to be made are accumulated, deferred and charged as part of the offering expenses to be reimbursed to the Managing Member after the twelfth month of operation following the commencement of business. Registration costs incurred after the commencement of business, if any, will be charged to expense as incurred. Revenue Recognition - Forward contracts, futures and other investments are recorded on the trade date and will be reflected in the statement of operations at the difference between the original contract amount and the market value on the last business day of the reporting period. Market value of forward contracts, futures and other investments is based upon exchange or other applicable closing quotations related to the specific positions. Interest income is recognized when it is earned. Use of Accounting Estimates - The preparation of financial statements in conformity with generally accepted accounting principles 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 reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Income Taxes - The Fund is not required to provide a provision for income taxes. Income tax attributes that arise from its operations are passed directly to the individual members. The Fund may be subject to state and local taxes in jurisdictions in which it operates. Statement of Cash Flows - For purposes of the Statement of Cash Flows, the Fund will consider only money market funds to be cash equivalents. Net cash used in operating activities includes no cash payments for interest or income taxes through December 31, 2006. There were no cash equivalents as of December 31, 2006, 2005 and 2004. F-7 TriView Global Fund, Limited Liability Company (A Development Stage Enterprise) Notes to the Financial Statements For the Years Ended December 31, 2006, 2005 and 2004 2. Significant Accounting Policies, Continued Foreign Currency - Investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of investment securities and income and expense items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Company does not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss from investments. Reported net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates. 3. Managing Member Duties The responsibilities of the Managing Member, in addition to directing the trading and investment activity of the Fund, including suspending all trading, includes executing and filing all necessary legal documents, statements and certificates of the Fund, retaining independent public accountants to audit the Fund, employing attorneys to represent the Fund, reviewing the brokerage commission rates to determine reasonableness, maintaining the tax status of the Fund as an LLC, maintaining a current list of the names, addresses and numbers of units owned by each Member and taking such other actions as deemed necessary to manage the business of the Company. The Corporate Managing Member has contributed $1,000 in cash for deposit to the capital of the Fund for a non-trading Managing Member interest in the Company. If the net unit value of the Fund falls to less than 50% of the greater of the original $1,000 selling price, less commissions and other charges or such higher value earned through trading, then the Managing Member will immediately suspend all trading, provide all members with notice of the reduction in net unit value and give all members the opportunity, for fifteen days after such notice, to redeem Units. No trading shall commence until after the lapse of such fifteen day period. 4. The Limited Liability Company Agreement The LLC Operating Agreement provides, among other things, that- Capital Account - A capital account shall be established for each member. The initial balance of each member's capital account shall be the amount of the initial contributions to the Fund. Monthly Allocations - Any increase or decrease in the Fund's net asset value as of the end of a month shall be credited or charged to the capital account of each Member in the ratio that the balance of each account bears to the total balance of all accounts. Any distribution from profits or members' capital will be made solely at the discretion of the Managing Member. Federal Income Tax Allocations - As of the end of each fiscal year, the Fund's realized capital gain or loss and ordinary income or loss shall be allocated among the Members, after having given effect to the fees and expenses of the Fund. Subscriptions - Investors must submit subscription agreements and funds at least five business days prior to month end. Subscriptions must be accepted or rejected by the Managing Member within five business days. The investor also has five business days to withdraw his subscription. Funds are deposited into an interest bearing subscription account and will be transferred to the Fund's account after the minimum to commence business has been raised and, thereafter, on the first business day of the month after the subscription is accepted. Interest earned on the subscription funds will accrue to the account of the investor. Redemptions - A member may request any or all of his investment be redeemed at the net asset value as of the end of a month. Unless this requirement is waived, the written request must be received by the managing member no less than ten business days prior to a month end. Redemptions will generally be paid within twenty days of the effective month end. However, in various circumstances due to liquidity, etc. the managing member may be unable to comply with the request on a timely basis. There will be a redemption fee commencing from the date of purchase of units of 3% during the first four months, 2% during the second four months, 1% during the third four months and no redemption fee after the twelfth month. F-8 TriView Global Fund, Limited Liability Company (A Development Stage Enterprise) Notes to the Financial Statements For the Years Ended December 31, 2006, 2005 and 2004 5. Fees At December 31, 2006, the Fund prospectus stated that the Fund will be charged the following fees on a monthly basis as of the commencement of trading. A monthly management fee of 2.0% (annual rate) will be paid to the two CTA's, NuWave and Spectrum, of the equity allocated to them to trade. The Fund will pay the Corporate Managing Member an annual fixed brokerage commission of 6%, from which the Corporate Managing Member will pay the round turn commissions to the introducing broker and the futures commission merchant for trades made on U.S. markets. The Fund will also pay actual charges for trades made on foreign exchanges or markets, if any. A quarterly incentive fee of 20% of "new net profits" will be paid to the two CTA's, NuWave and Spectrum, and a 3.0% quarterly incentive fee will be paid to the Corporate Managing Member. "New net profits" includes all income earned by a CTA and expense allocated to his activity. In the event that trading produces a loss for a CTA, no incentive fees will be paid and all losses will be carried over to the following months until profits from trading exceed the loss. It is possible for one CTA to be paid an incentive fee during a quarter or a year when the Fund experienced a loss. The Fund may also change CTA's and thereby begin the computation of new net profits from the date that a new CTA is retained. After the Fund commences trading, the Fund will pay the selling agent who sold the units a 3% continuing service fee during each year the investment is in the Fund. The Managing Member has reserved the right to change the management fee and the incentive fee at its sole discretion. The total incentive fees may be increased to 27% if the management fee is eliminated. The Fund may also increase the total management fees paid to the CTA's and Managing Member to 6% of total net assets if the total incentive fees are decreased to 15%. 6. Related Party Transactions The sole shareholder of TriView Capital has made an initial member capital contribution in the Fund of $1,000. He is also the sole shareholder of Ashley Capital Management, Inc. (the general partner of another commodity fund), which along with the shareholder, has temporarily funded the syndication costs incurred by the Fund to date. In Accordance with Financial Accounting Standards Board Interpretation No. 46(R), Consolidation of Variable Interest Entities, a variable interest entity relationship exists between TriView Capital and the Fund. Financial Accounting Standards Board Interpretation No. 45, Guarantor's Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of Others, identifies certain disclosures to be made by a guarantor in its financial statements about its obligations under certain guarantees that it has issued. In the normal course of business, the Fund has provided general indemnifications to the Managing Member, its CTA's and others when they act, in good faith, in the best interests of the Fund. The Fund is unable to develop an estimate for future payments resulting from hypothetical claims, but expects the risk of having to make any payments under these indemnifications to be remote. The Fund has received advances from four related parties: TriView Capital Management, Inc., general partner of TriView Global Fund, L.L.C., Ashley Capital Management, Inc., Futures Investment Company, the introducing broker and Michael Pacult, President of Futures Investment Company, TriView Capital Management, Inc. and Ashley Capital Management, Inc. The Fund has the following advances due to related parties at December 31, 2006 and 2005: December 31, 2006 2005 Futures Investment Company $12,533 $833 Ashley Capital Management, Inc. 27,975 24,976 TriView Capital Management, Inc. 3,320 3,320 Michael Pacult 35,231 23,731 Total advances due to related parties $79,059 $52,860 These advances are to help pay for various costs, including operating and start-up costs, and are recorded as due to related party. The balance is usually paid back within a year from the start of trading or when the Fund is financially capable of repaying the advance. These amounts bear no interest or due dates and are unsecured. F-9 TriView Global Fund, Limited Liability Company (A Development Stage Enterprise) Notes to the Financial Statements For the Years Ended December 31, 2006, 2005 and 2004 7. Membership Unit Transactions As of December 31, 2006, 2005 and 2004 membership units were valued at $1,000. Transactions in membership units were as follows: Units Amount 2006 2005 2004 2006 2005 2004 Members Units Subscriptions - - 1.00 $- $- $1,000 Redemptions - - - - - - Total - - 1.00 - - 1,000 Managing Members Units Subscriptions - - 1.00 - - 1,000 Redemptions - - - - - - Total - - 1.00 - - 1,000 Total Units Subscriptions - - 2.00 - - 2,000 Redemptions - - - - - - Total - - 2.00 $- $- $2,000 7. Concentrations The Fund will maintain all of its initial subscription deposits with a commercial financial institution. In the event of the financial institution's insolvency, recovery of Fund deposits may be limited to account insurance or other protection afforded deposits by the institution. F-10 TriView Global Fund, Limited Liability Company Affirmation of the Commodity Pool Operator For the Years Ended December 31, 2006 and 2005, the Period from October 1, 2004 (Date of Inception) to December 31, 2004 and the Cumulative Period from October 1, 2004 (Date of Inception) to December 31, 2006 ***************************************************************************** To the best of the knowledge and belief of the undersigned, the information contained in this report is accurate and complete. /s/ Michael Pacult July 3, 2007 Michael Pacult Date President, TriView Capital Management, Inc. Managing Member TriView Global Fund, Limited Liability Company F-11