# OMEGA SECURITIES, INC. X-17A-5 (2022-02-28) — Broker-dealer annual report - Company: OMEGA SECURITIES, INC. - Form: X-17A-5 - Filed: 2022-02-28 - Period: 2021-12-31 - Accession: 0000108404-22-000001 - CIK: 108404 - File #: 8-20225 - Type: Broker-dealer - Material weakness: No - Auditor: MESCH, PLLC - Auditor location: Fort Worth, TX - Contact: TAMERA A BRYANT - Phone: 8173355739 - Email: tammy@omegawp.com - Website: omegawp.com - Signed by: TAMERA A BRYANT (CHIEF COMPLIANCE OFFICERR) Original filing: https://www.sec.gov/Archives/edgar/data/108404/000010840422000001/yearend1.pdf --- {0}------------------------------------------------ | | FORM X-17A-5 | | 8-20225 | | |-----------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------|--| | | PART II | | | | | ormation Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | FACING PAGE | | | | | g for the period beginning 01/01/2021 | | ______________________________________________________________________________________________________________________________________________________________________________ | | | | | MM/DD/YY | | MM/DD/YY | | | | A. REGISTRANT IDENTIFICATION | | | | | IE OF FIRM: Omega Securities, Inc | | | | | | OF REGISTRANT (check all applicable boxes):
roker-dealer
] Check here if respondent is also an OTC derivatives dealer | | | | | | RESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | | 0 Throckmorton Street, Suite 1450 | | | | | | | (No. and Street) | | | | | rt Worth | IX | | 76102 | | | (City) | (State) | | (Zip Code) | | | SON TO CONTACT WITH REGARD TO THIS FILING | | | | | | mera Bryant | 817-335-5739 | tammy@omegawp.com | | | | e) | (Area Code - Telephone Number) | (Email Address) | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | EPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
esch, PLLC | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | 0 Texas Street, FL 1 | Fort Worth | IX | 76102 | | | ress) | (City) | (State) | (Zip Code) | | | vember 3, 2015 | | 6192 | | | | e of Registration with PCAOB)(if applicable) | FOR OFFICIAL USE ONLY | | (PCAOB Registration Number, if applicable | | | | | | | | | | | | | | {1}------------------------------------------------ | Tamera Bryant | | . swear (or affirm) that, to the best of my knowledge and belief, the | |------------------------------------------------------------------|--|-----------------------------------------------------------------------| | financial report pertaining to the firm of Omega Securities, Inc | | as of | | 2/28 | | '1 | | | | and and services in any aggrunt classified coloritiad colori | - - - - - - - - - - - - - - - - - - - - - - - - - - - {2}------------------------------------------------ ![](_page_2_Picture_0.jpeg) # OMEGA SECURITIES, INC. ## FINANCIAL STATEMENTS, SUPPLEMENTAL INFORMATION, & INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED DECEMBER 31, 2021 {3}------------------------------------------------ #### TABLE OF CONTENTS | | Page | |----------------------------------------------------------------------------------------------------------------------------------------------|------| | Report on Independent Registered Public Accounting Firm | 3 | | Financial Statements | | | Statement of Financial Condition | 5 | | Statement of Operations | 7 | | Statement of Changes in Stockholders' Equity | 8 | | Statement of Cash Flows | 9 | | Notes to Financial Statements | 10 | | Supplementary Information | | | Schedule I - Computation of Net Capital and Aggregate Indebtedness Pursuant
to Rule 15c3-1 of the Securities and Exchange Commission | 17 | | Schedule II - Determination of Reserve Requirements Under Rule 15c3-3 of
The Securities and Exchange Commission | 19 | | Schedule III - Information Relating to the Possession or Control Requirements
Under Rule 15c3-3 of The Securities and Exchange Commission | 19 | | Additional Reports and Related Information | | | Report on Independent Registered Public Accounting Firm | 20 | | Exemption Report | 21 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Stockholders of Omega Securities, Inc. #### Opinion on the Financial Statements We have audited the accompanying statement of financial condition of Omega Securities, Inc. as of December 31, 2021, the related statements of operations, changes in stockholders' equity, and cash flows for the year then ended, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of Omega Securities, Inc. as of December 31, 2021, and the results of its operations and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America. #### Basis of Opinion These financial statements are the responsibility of Omega Securities, Inc.'s management. Our responsibility is to express an opinion on Omega Securities, Inc.'s financial statements 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 Omega Securities, Inc. 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 statements are 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 statements, 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. #### Supplemental Information {5}------------------------------------------------ The supplemental information contained in Schedule I - Computation of Net Capital and Aggregate Indebtedness Pursuant to Rule 15c3-1 of the Securities and Exchange Commission, Schedule II - Determination of Reserve Requirements Under Rule 15c3-3 of The Securities and Exchange Commission, Schedule III - Information Relating to the Possession or Control Requirements Under Rule 15c3-3 of The Securities and Exchange Commission has been subjected to audit procedures performed in conjunction with the audit of Omega Securities, Inc.'s financial statements. The supplemental information is the responsibility of Omega Securities, Inc.'s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with 17 C.F.R. §240.17a-5. In our opinion, the supplemental information contained in Schedule I - Computation of Net Capital and Aggregate Indebtedness Pursuant to Rule 15c3-1 of the Securities and Exchange Commission, Schedule II - Determination of Reserve Requirements Under Rule 15c3-3 of The Securities and Exchange Commission, Schedule III - Information Relating to the Possession or Control Requirements Under Rule 15c3-3 of The Securities and Exchange Commission is fairly stated, in all material respects, in relation to the financial statements as a whole. We have served as Omega Securities, Inc.'s auditor since 2016. Fort Worth, Texas February 24, 2022 {6}------------------------------------------------ ### Omega Securities, Inc. Statement of Financial Condition December 31, 2021 #### ASSETS | Current Assets | | | |----------------------------------|--------------|---------------| | Cash and cash equivalents | \$
80,477 | | | Receivables, net | 33,374 | | | Receivables - other | 355 | | | Investments | 51,928 | | | Total current assets | | \$
166,134 | | Property and Equipment - at cost | | | | Equipment | 45,277 | | | Furniture & fixtures | 11,119 | | | Leasehold improvements | 25,676 | | | | 82,072 | | | Less accumulated depreciation | (81,916) | | | Total property and equipment | | 156 | | Other Assets | | | | Deferred tax assets | 335 | | | Total other assets | | 335 | | Total Assets | | \$
166,625 | {7}------------------------------------------------ #### LIABILITIES AND STOCKHOLDERS' EQUITY | Current Liabilities | | | |-------------------------------------------------------|-------------|---------------| | Accounts payable | \$
2,777 | | | Sales commission payable | 20,984 | | | Total current liabilities | | \$
23,761 | | Total long-term liabilities | | 0 | | Total Liabilities | | 23,761 | | Stockholders' Equity | | | | Common stock, 10,000,000 shares authorized, \$.10 par | | | | value, 49,998 shared issued and outstanding | 5,000 | | | Additional paid-in capital | 30,282 | | | Retained earnings | 107,582 | | | Total Stockholders' Equity | | 142,864 | | | | | | | | | | | | | | Total Liabilities and Stockholders' Equity | | \$
166,625 | {8}------------------------------------------------ ### Omega Securities, Inc. Statement of Operations For The Year Ended December 31, 2021 | Revenue | | | |---------------------------------------------|---------------|---------------| | Commission revenue | \$
444,569 | | | Realized and unrealized gain on investments | 6,147 | | | Other revenue | 93 | | | Total Revenue | | \$
450,809 | | Expenses | | | | Employee compensation and benefits | 275,607 | | | Occupancy and equipment | 77,350 | | | General operating expenses | 50,661 | | | Technology and communication | 17,101 | | | Miscellaneous | 524 | | | Depreciation | 168 | | | Total Expenses | | 421,411 | | Income Before Income Taxes | | 29,398 | | Provision for income taxes | | 316 | | Net Income | | \$
29,082 | {9}------------------------------------------------ ### For The Year Ended December 31, 2021 Omega Securities, Inc. Statement of Changes in Stockholders' Equity | Common Stock | | | |----------------------------|--------------|---------------| | Beginning and end of year | | \$
5,000 | | Additional Paid-in Capital | | | | Beginning and end of year | | 30,282 | | Retained Earnings | | | | Beginning of year | \$
78,500 | | | Net income for the year | | | | ended December 31, 2021 | 29,082 | | | End of Year | | 107,582 | | Total Stockholders' Equity | | \$
142,864 | {10}------------------------------------------------ ### Omega Securities, Inc. Statement of Cash Flows For The Year Ended December 31, 2021 | Cash Flows from Operating Activities | | | |----------------------------------------------------|-----------|--------------| | Net income | | \$
29,082 | | Adjustments to reconcile net income to net | | | | cash provided by operating activities: | | | | Depreciation and amortization | \$
168 | | | Realized and unrealized (gain) on investments | (6,147) | | | Deferred tax expense | 316 | | | (Increase) Decrease in: | | | | Receivables | 20,189 | | | Increase (Decrease) in: | | | | Accounts payable | (47,466) | | | Total adjustments | | (32,940) | | Net cash (used) by operating activities | | (3,858) | | Net Decrease in Cash | | (3,858) | | Cash and cash equivalents at beginning of year | | 84,335 | | Cash and cash equivalents at end of year | | \$
80,477 | | Supplemental Disclosures of Cash Flow Information: | | | | Cash Paid During the Year for | | | | Interest | | \$
0 | | Taxes | | 0 | | Total | | \$
0 | {11}------------------------------------------------ #### Note 1: Description of Business Incorporated on November 11, 1974, Omega Securities, Inc. (the "Company") is a broker/dealer with the Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA"). The Company operates under the provisions of Paragraph (k)(1) of Rule 15c3-3 of the SEC and, accordingly, is exempt from the remaining provisions of that Rule. The Company must maintain a minimum net capital requirement of \$5,000. #### Note 2: Summary of Significant Accounting Policies #### Basis of accounting The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United Statement of America (GAAP) which is required by the SEC and FINRA. #### COVID-19 pandemic The COVID-19 pandemic has created significant public health concerns as well as economic disruption, uncertainty, and volatility which may negatively affect the Company's business operations. As a result, as the pandemic persists and/or if it worsens, management's accounting estimates and assumptions could be impacted in subsequent periods, and it is reasonably possible such changes could be significant (although the potential effects cannot be estimated at this time). #### Use of estimates The presentation of the financial statements in conformity with GAAP 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. #### Cash and cash equivalents Cash and cash equivalents include investments with maturities at the time of acquisition of three months or less. The Company has not designated any other assets as cash equivalents in determining the net change in cash in the statements of cash flows. {12}------------------------------------------------ #### Note 2: Summary of Significant Accounting Policies (Continued) #### Receivables, net Accounts receivable are stated at the amounts management expects to collect. The carrying amounts of accounts receivable are reduced by a valuation allowance, if needed, that reflects management's best estimate of the amounts that will not be collected. Management individually reviews all receivable balances and, based on an assessment of current creditworthiness, estimates the portion of, if any, of the balance that will not be collected. Management provides for probable uncollectable amounts through a charge to earnings and a credit to a valuation allowance based on its assessment of the current status of individual accounts. Balances that are still outstanding after management has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to the respective receivable account. In management's opinion, any potential allowance for uncollectable accounts would not be material to the Financial Statements as of December 31, 2021. #### Investments Investments are recorded at fair value. The increase or decrease in fair value is credited or charged to operations. Realized and unrealized gain on investments of \$6,147 are reflected in the accompanying Statement of Operations. #### Credit risk The Company maintains deposits at a financial institution which may at times exceed amounts covered by insurance provided by the U.S. Federal Deposit Insurance Corporation ("FDIC"). The Company has not experienced any losses related to amounts in excess of FDIC limits. #### Property and equipment Property and equipment are stated at cost and depreciated using the straight-line method over their estimated useful lives. Expenditures for major additions or improvements, which extend the useful lives of assets, are capitalized. Minor replacements, maintenance and repairs, which do not improve or extend the lives of such assets, are expensed as incurred. The range of estimated lives is as follows: Equipment 3-5 Furniture & fixtures 5-7 Leasehold improvements Lesser of useful life or lease term | Equipment | 3-5 | |----------------------|-----------------------------------------------------------------| | Furniture & fixtures | | | | Leasehold improvements Lesser of useful life or lease term | In accordance with Financial Accounting Standards Board ("FASB") ASC 360-10-45 (Impairment and disposal of long-lived assets), the Company evaluates the propriety of the carrying amount of its long-lived assets at each financial statement date. In the event that facts and circumstances indicate the cost of long-lived assets may be impaired, an evaluation of recoverability would be performed. If an evaluation of impairment is required, the estimated future undiscounted cash flows associated with the asset would be compared to the asset's carrying amount to determine if a write-down to market value or discounted cash flow value is required. For the year ended December 31, 2021 , the Company did not record any such write-downs. {13}------------------------------------------------ #### Note 2: Summary of Significant Accounting Policies (Continued) #### Income taxes The Company records its federal and state tax liabilities in accordance with FASB Accounting Standards Codification Topic 740-10, "Accounting for Income Taxes". The Company uses the liability method of accounting for income taxes that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company's financial statements. In estimating future tax consequences, all expected future events are considered other than enactment of changes in the tax law or rates. The Company provides a valuation allowance, if necessary, to reduce deferred tax assets to amounts that are not likely to be realized. The Company's deferred tax asset represents the tax effects of taxable temporary differences in book and tax reporting. The taxable temporary differences consist of depreciation methods and lives. #### Risks and uncertainties Securities owned and securities sold, not yet purchased are recorded at fair value and have exposure to market risk, including the volatility of securities markets. Significant changes in the prices of these securities could have a significant impact on the Company's results of operations for any particular year. #### Note 3: Revenue Recognition #### Significant Judgments Revenue from contracts with customers consists of distribution fees. The recognition and measurement of revenue is based on the assessment of individual contract terms. Significant judgment is required to determine whether performance obligations are satisfied at a point in time or over time; how to allocate transaction prices where multiple performance obligations are identified; when to recognize revenue based on the appropriate measure of the Company's progress under the contract; and whether constraints on variable consideration should be applied due to uncertain future events. #### Brokerage Commissions The Company buys and sells securities on behalf of its customers. Each time a customer enters into a buy or sell transaction, the Company charges a commission. Commissions and related clearing expenses are recorded on the trade date (the date that the Company fills the trade order by finding and contracting with a counterparty and confirms the trade with the customer). The Company believes that the performance obligation is satisfied on the trade date because that is when the underlying financial instrument or purchaser is identified, the pricing is agreed upon and the risks and rewards of ownership have been transferred to/from the customer. {14}------------------------------------------------ #### Note 3: Revenue Recognition (Continued) #### Distribution Fees (12b-1 fees) The Company enters into arrangements with managed accounts or other pooled vehicles (funds) to distribute shares to investors. The Company believes that its performance obligation is the sale of securities to investors and as such this is fulfilled on the trade date. Any fixed amounts are recognized on the trade date, and variable amounts are recognized to the extent it is probable that a significant revenue reversal will not occur once the uncertainty is resolved. For variable amounts, as the uncertainty is dependent on the value of the shares at future points in time as well as the length of time the investor remains in the fund, both of which are highly susceptible to factors outside the Company's influence, the Company does not believe that it can overcome this constraint until the market value of the fund and the investor activities are known, which are usually monthly or quarterly. Distribution fees recognized in the current period are primarily related to performance obligations that have been satisfied in prior periods. #### Note 4: Fair Value Measurement The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable input (Level 3). The three levels of the fair value hierarchy under FASB ASC 820 are described as follows. Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 Measured based upon inputs that are observable, either directly or indirectly, for the asset or liability other than quoted market prices included in Level 1. Level 3 Measured based on unobservable inputs for the asset or liability for which there is little, if any, market activity for the asset or liability at the measurement date. As required by ASC 820-10, financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. The Company's assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. The following is a description of the valuation methodology used for the assets measured at fair value as of December 31, 2021: Mutual fund – Valued at the closing price reported on the active market on the last trade of each day. {15}------------------------------------------------ #### Note 4: Fair Value Measurement (Continued) | | For the Year Ended December 31, 2021 | Omega Securities, Inc.
Notes to Financial Statements | | | | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------|---------------------------------------------------------|---------|--------------|--| | Note 4: Fair Value Measurement (Continued) | | | | | | | The methods described above may produce a fair value calculation that may not be indicative of net
realizable value or reflective of future fair values. The Company believes its valuation methods are
appropriate and consistent with other market participants; even so, the use of different methodologies
or assumptions to determine the fair value of certain financial instruments could result in a different
fair value measurement at the reporting date.
The following table summarizes the valuation of the Company's investments by ASC 820-10 pricing
levels at December 31, 2021: | | | | | | | | Level 1 | Level 2 | Level 3 | Total | | | Mutual funds | \$
51,928 | \$
0 | \$
0 | \$
51,928 | | | Total investments
at fair value | | | | \$
51,928 | | | | | | | | | | Note 5: Property and Equipment, Net | | | | | | #### Note 5: Property and Equipment, Net Depreciation expense was \$168 for the year ended December 31, 2021 and is included in the accompanying Statement of Operations. #### Note 6: Related Party Transactions The Company pays rent on month-by-month basis to Omega Wealth Partners which is owned and operated by the stockholders of the Company. For the year ended December 31, 2021, total rent expense was \$60,000 and is included in Occupancy and Equipment in the accompanying Statement of Operations. #### Note 7: Net Capital Requirements The Company is subject to the net capital requirements of rule 15c3-1 of the SEC, which requires a broker dealer to have at all times sufficient liquid assets to cover indebtedness. In accordance with the rule, the Company is required to maintain minimum net capital of the \$5,000 or 1/15 of aggregate indebtedness. As of December 31, 2021, the Company had net capital, as defined, of \$121,898 which exceeded the required minimum net capital by \$116,898. Aggregate indebtedness at December 31, 2021 totaled \$23,671 and the ratio of aggregate indebtedness to net capital was 19.49%. {16}------------------------------------------------ #### Note 8: Income Taxes The provisions for income taxes are as follows for the year ended December 31, 2021: | Omega Securities, Inc. | | | |----------------------------------------------------------------------------------------------|-----------|--| | Notes to Financial Statements
For the Year Ended December 31, 2021 | | | | | | | | | | | | The provisions for income taxes are as follows for the year ended December 31, 2021: | | | | Federal | | | | Current tax expense | \$
0 | | | Deferred tax expense | 316 | | | Total federal tax expense | 316 | | | State | | | | Current tax expense | 0 | | | Total provision for income taxes | \$
316 | | | | | | | The components of deferred tax assets and liabilities for December 31, 2021 were as follows: | | | | | | | | Depreciation and amortization | \$
335 | | | Federal NOL carryfoward | 57,686 | | | Gross deferred tax assets | 58,021 | | | Valuation allowance | (57,686) | | | | | | The components of deferred tax assets and liabilities for December 31, 2021 were as follows: | Deferred tax assets: | | |-------------------------|-----------| | | | | | | | | | | | | | Net deferred tax assets | \$
335 | Realization of deferred tax assets is dependent on future earnings, if any, the timing and amounts of which are uncertain. For the year ended December 31, 2021, the Company has recorded a valuation allowance equal the deferred tax benefits from carryforwards of net operating losses. The net change in the valuation allowance amounted to an increase of approximately \$6,600. None \$ 7,022 December 31, 2038 \$ 162,431 December 31, 2036 \$ 105,243 As of December 31, 2021, the Company has net operating loss carryforwards of \$274,696 that are available to offset taxable income in future years. Net operating losses originating before the 2018 tax year expire after 20 years, while net operating losses originating in 2018 and after have no expiration date. The net operating loss amounts and expiration dates are as follows: | None | S | 7,022 | |-------------------|------|---------| | December 31, 2038 | S | 162,431 | | December 31, 2036 | ಲ್ಲಿ | 105.243 | {17}------------------------------------------------ #### Note 8: Income Taxes (Continued) The Company accounts for uncertainty in income taxes in accordance with FASB ASC 740-10, which prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The Company did not have unrecognized tax benefits as of December 31, 2021 and does not expect this to change significantly over the next 12 months. The Company recognizes interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense in accordance with ASC 7 40-10-25. As of December 31, 2021, the Company has not accrued interest or penalties related to uncertain tax positions. The Company is subject to the Texas franchise tax; however, annualized total revenue was below the no tax due threshold and no accrual was recorded. The Company is no longer subject to U.S. federal income tax examinations by tax authorities for years before 2018 or subject to Texas franchise tax examinations for years before 2015. #### Note 9: Subordinated Liabilities There were no liabilities which were subordinated to the claims of general creditors at December 31, 2021. #### Note 10: Commitments and Contingencies The Company had no commitments, no contingent liabilities and had not been named as a defendant in any lawsuit at December 31, 2021 or during the year then ended. #### Note 11: Subsequent Events Management has evaluated subsequent events through February 24, 2022, the date the financial statements were available to be issued. There were no events noted that came to the attention of management that would require adjustments to or disclosure in the financial statements. {18}------------------------------------------------ ### to Rule 15c3-1 of the Securities and Exchange Commission Omega Securities, Inc. Schedule I - Computation of Net Capital and Aggregate Indebtedness Pursuant As of December 31, 2021 #### Computation of Net Capital: | Total stockholders' equity
Add: subordinated liabilities | \$
142,864
0 | | |---------------------------------------------------------------------------------------------------------|--------------------|---------------| | Total capital and allowable subordinated liabilities | | \$
142,864 | | Deductions and/or charges:
Non-allowable assets | | (13,504) | | Net capital before haircuts on securities positions | | 129,360 | | Haircut on securities | | (7,462) | | Net Capital | | \$
121,898 | | Computation of Basic Net Capital Requirement | | | | Minimum net capital required - 6.67% of aggregate indebtedness | | \$
1,585 | | Minimum dollar net capital requirement of reporting
broker or dealer | | \$
5,000 | | Excess net capital | | \$
116,898 | | Net capital less greater of 10% of aggregate indebtedness
or 120% of minimum net capital requirement | | \$
115,898 | See independent auditor's report on supplemental schedule. {19}------------------------------------------------ ### Omega Securities, Inc. Schedule I - Computation of Net Capital and Aggregate Indebtedness Pursuant to Rule 15c3-1 of the Securities and Exchange Commission (Continued) As of December 31, 2021 #### Computation of Aggregate Indebtedness | Total liabilities | \$
23,761 | |---------------------------------------------------------------------------|---------------| | Less: exclusions | 0 | | Aggregated Indebtedness | \$
23,761 | | Percentage of aggregate indebtedness to net capital | 19.49% | | Reconciliation with Company's Allowable Net Capital | | | Net allowable capital, as reported in Company's
unaudited Focus Report | \$
122,214 | | Audit adjustments | (316) | | Adjusted net allowable capital, per audited financial statements | \$
121,898 | See independent auditor's report on supplemental schedule. {20}------------------------------------------------ Omega Securities, Inc. December 31, 2021 Schedules II and III #### Schedule II – Determination of Reserve Requirements Under Rule 15c3-3 Of The Securities and Exchange Commission The Company is exempt from the provisions of Rule 15c3-3 under the Securities Exchange Act of 1934 pursuant to paragraph (k)(1) of the Rule. ### Schedule III – Information Relating to The Possession or Control Requirements Under Rule 15c3-3 Of The Securities and Exchange Commission The Company is exempt from the provisions of Rule 15c3-3 under the Securities Exchange Act of 1934 pursuant to paragraph (k)(1) of the Rule. {21}------------------------------------------------ ![](_page_21_Picture_0.jpeg) #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Stockholders of Omega Securities, Inc. We have reviewed management's statements, included in the accompanying Omega Securities, Inc. Statement of Exemption from SEC Rule 15c3-3, in which (1) Omega Securities, Inc. ("the Company") identified the following provisions of 17 C.F.R. §15c3-3(k) under the Company claimed an exemption from 17 C.F.R. §240.15c3-3: (k)(1) (exemption provisions) and (2) the Company stated that the Company met the identified exemption provisions throughout the most recent fiscal year without exception. The Company's management is responsible for compliance with the exemption provisions and its statements. Our review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included inquiries and other required procedures to obtain evidence about Omega Securities, Inc.'s compliance with the exemption provisions. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's statements. Accordingly, we do not express such an opinion. Based on our review, we are not aware of any material modifications that should be made to management's statements referred to above for them to be fairly stated, in all material respects, based on the provisions set forth in paragraph (k)(1) of Rule 15c3-3 under the Securities Exchange Act of 1934. Fort Worth, Texas February 24, 2022 {22}------------------------------------------------ ![](_page_22_Picture_0.jpeg) - - Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.