# NTB FINANCIAL CORPORATION X-17A-5 (2022-09-28) — Broker-dealer annual report - Company: NTB FINANCIAL CORPORATION - Form: X-17A-5 - Filed: 2022-09-28 - Period: 2022-06-30 - Accession: 0000216696-22-000006 - CIK: 216696 - File #: 8-21884 - Type: Broker-dealer - Material weakness: No - Auditor: Spicer Jeffries LLP - Auditor location: Denver, CO - Contact: Brad Dowell - Phone: 3038251825 - Signed by: Anthony Petrelli (President) Original filing: https://www.sec.gov/Archives/edgar/data/216696/000021669622000006/2022NTBPUBLIC1.pdf --- {0}------------------------------------------------ YEAR ENDED JUNE 30, 202 PUBLIC DOCUMENT {1}------------------------------------------------ #### UNITEDSTATES SECURITIESANDEXCHANGECOMMISSION Washington, D.C. 20549 # hours per response.. . . . . 12.00 ANNUAL AUDITED REPORT FORM X-17A-5 PART III | SEC FILE NUMBER | |-----------------| | 8- | | | UNITEDSTATES
SECURITIESANDEXCHANGECOMMISSION | | |------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------| | | Washington, D.C. 20549 | | | | | hours per response 12.00 | | | ANNUAL AUDITED REPORT
FORM X-17A-5 | | | | PART III | SEC FILE NUMBER | | | | 8- | | | FACING PAGE
Information Required of Brokers and Dealers Pursuant to Section 17 of the
Securities Exchange Act of 1934 and Rule 17a-5 Thereunder | | | | | | | | | | | A. | REGISTRANT IDENTIFICATION | | | | | OFFICIAL USE ONLY | | | | FIRM I.D. NO. | | | | | | | | | | | | | | | | | | | | | | | | | | B. | ACCOUNTANT IDENTIFICATION | | | | | | | | | | | | | | | | if individual, state last, first, middle name | | | | | | | | | | | CHECK ONE: | | | | | | | | | | | | | | | | | FOR OFFICIAL USE ONLY | | \*Claims for exemption from the requirement that the annual report be covered by the opinion of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis for the exemption. See Section 240.17a-5(e)(2) Potential persons who are to respond to the collection of information contained in this form are not required to respond SEC 1410 ( ) unless the form displays a currently valid OMB control number. {2}------------------------------------------------ - - {3}------------------------------------------------ #### CONTENTS | | Page(s) | |---------------------------------------------------------|---------| | Report of Independent Registered Public Accounting Firm | 3 | | Statement of Financial Condition | ব | | Notes to Financial Statements | 5-11 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ## REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM #### Opinion on the Financial Statements ### Basis for Opinion ![](_page_4_Picture_12.jpeg) {5}------------------------------------------------ #### STATEMENT OF FINANCIAL CONDITION (IN LIQUIDATION) YEAR ENDED JUNE 30, 2022 | ASSETS | | | |---------------------------------------------------------------------|---|-------------| | Cash and cash equivalents | S | 75,706 | | Receivables | | | | Clearing broker | | 310,528 | | Clearing deposit | | 150,000 | | Receivable from other broker dealers | | 534,689 | | Other receivables, less allowance for doubtful accounts of \$24,450 | | 18,154 | | Income tax receivable | | 55,262 | | Furniture, equipment and leasehold improvements, | | | | at cost, net of accumulated depreciation of \$178,247 | | 2,292 | | Operating lease right-of-use asset | | 47,731 | | Other assets | | 85,023 | | TOTAL ASSETS | S | 1,279,384 | | | | | | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | LIABILITIES: | | | | Salaries and commissions payable | S | 750,335 | | Accrued expenses and other liabilities | | 676,212 | | Operating Lease Liability | | 63,141 | | TOTAL LIABILITIES | S | 1,489,688 | | COMMITMENTS AND CONTINGENCIES (Note 4 and 7) | | | | SHAREHOLDERS' EQUITY (Note 6) | | | | Preferred stock, series 2001-A, \$.001 oar value, 4 1/2% voting, | S | 38 | | 600,000 shares authorized, 38,479 shares issued and outstanding | | | | Common Stock, \$.001 par value; 10,000,000 shares authorized, | | | | 648,961 shares issued and outstanding | | 649 | | Additional paid-in capital | | 836,204 | | Deficit | | (1,047,195) | | TOTAL SHAREHOLDER'S EQUITY | S | (210,304) | | | S | 1,279,384 | {6}------------------------------------------------ ## NOTES TO FINANCIAL STATEMENTS ## NOTE 1 - LIQUIDATION OF THE COMPANY ## NOTE 2 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES #### Organization and Business ## Basis of Accounting, Trading and Valuation of Securities {7}------------------------------------------------ ## NOTES TO FINANCIAL STATEMENTS ## NOTE 2 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) #### Basis of Accounting, Trading and Valuation of Securities (concluded) {8}------------------------------------------------ ## NOTES TO FINANCIAL STATEMENTS ## NOTE 2 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) ### Agreement with Clearing Broker #### Depreciation and Amortization #### Cash and Cash Equivalents #### Revenue Recognition {9}------------------------------------------------ ## NOTES TO FINANCIAL STATEMENTS ## NOTE 2 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued ## Income Taxes Accounting for Uncertainty in Income Taxes ## Use of Estimates {10}------------------------------------------------ ## NOTES TO FINANCIAL STATEMENTS ## NOTE 3 - INCOME TAXES | Deferred tax asset: | | |---------------------------------------------------|-----------| | Rent expense for tax purpose vs. lease accounting | \$ 29.871 | | Net operation carryforward | \$ 59.106 | | | \$ 88.677 | ## NOTE 4 - LEASE OBLIGATIONS #### Operating Lease Obligations {11}------------------------------------------------ ### NOTES TO FINANCIAL STATEMENTS ### NOTE 4 - LEASE OBLIGATIONS (concluded) | Jperating lease cost:
Amortization of right-of-use assets
Interest on operating lease liabilities | A | 186.679
5,400 | |---------------------------------------------------------------------------------------------------------|---|------------------| | Total operating lease costs | S | 192.079 | | Operating Leases: | | | |-----------------------------------------------------------|---|------------| | Right to use assets | S | 604.749 | | Accumulated amortization | | 557,018 | | Right of use assets, net | S | 47,732 | | Operating lease liabilities | S | 63,141 | | | | | | Weighted Average Remaining Lease Term
Operating leases | | 1.33 years | | Weighted Average Discount | | | | Operating leases | | 2.73% | | | | | Operating | | |-----------------------------------|------|--------|----------------|--| | | Year | Leases | | | | | 2023 | | 63,429 | | | Total lease payments | | S | 63,429
288) | | | Less amount representing interest | | S | 63,141 | | {12}------------------------------------------------ ## NOTES TO FINANCIAL STATEMENTS ## NOTE 5 - NET CAPITAL REQUIREMENTS ## NOTE 6 - FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK, CONTINGENCIES AND UNCERTAINTIES NOTE 7 - SUBSEQUENT EVENTS Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.