# CHIRON SECURITIES LLC X-17A-5/A (2025-04-15) — Broker-dealer annual report - Company: CHIRON SECURITIES LLC - Form: X-17A-5/A - Filed: 2025-04-15 - Period: 2024-12-31 - Accession: 0000884982-25-000002 - CIK: 884982 - File #: 8-44665 - Type: Broker-dealer - Material weakness: No - Auditor: Sanville & Company, LLC - Auditor location: Dallas, TX - Contact: Scott Johnson - Phone: 7139299081 - Email: sjohnson@chironfinance.com - Website: chironfinance.com - Signed by: Scott Johnson (Managing Director) Original filing: https://www.sec.gov/Archives/edgar/data/884982/000088498225000002/cslaudit24.pdf --- {0}------------------------------------------------ #### **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** OMB APPROVAL OMB Number: 3235-0123 Expires: EŽǀ. 30, 202ϲ Estimated average burden hours per response: 12 ## **ANNUAL REPORTS FORM X-17A-5 PART III** SEC FILE NUMBER 8-84982 **FACING PAGE** | Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | 01/01/2024 | | 12/31/2024 | | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------|------------------------------------------------------------|-----------------|--------------------------------------------| | FILING FOR THE PERIOD BEGINNING _____________________ AND ENDING ______________________ | MM/DD/YY | | | MM/DD/YY | | | A. REGISTRANT IDENTIFICATION | | | | | Chiron Securities LLC
NAME OF FIRM: _______________________________________________________________________ | | | | | | TYPE OF REGISTRANT (check all applicable boxes):
☐
☐
Broker-dealer
■
☐ Check here if respondent is also an OTC derivatives dealer | Security-based swap dealer | ☐
Major security-based swap participant | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | | 1301 McKinney, Suite 2800
_____________________________________________________________________________________ | | | | | | | (No. and Street) | | | | | Houston
_____________________________________________________________________________________ | | Texas | | 77010 | | (City) | | (State) | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | Scott Johnson | 713.929.9081 | | | sjohnson@chironfinance.com | | _____________________________________________________________________________________
(Name) | (Area Code – Telephone Number) | | (Email Address) | | | | B. ACCOUNTANT IDENTIFICATION | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
Sanville &n Company, LLC
_____________________________________________________________________________________ | | | | | | | | (Name – if individual, state last, first, and middle name) | | | | 325 N. Sait Paul St, Suite 3100
_____________________________________________________________________________________ | Dallas | | Texas | 75201 | | (Address)
09/19/2003
_____________________________________________________________________________________ | (City) | 169 | (State) | (Zip Code) | | (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.** {1}------------------------------------------------ #### 2\$7+ 25 \$)),50\$7,21 |
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Ratio of Aggregate Indebtedness to Net Capital under Rule 15c3-1 11 – 12 | | | Schedule II & III: Computation for Determination of Reserve Requirements Under Rule
15c3-3 and Information Relating to the Possession or Control Requirements Under SEC
Rule 15c3-3 13 | | | EXEMPTION REPORT | | | Report of Independent Registered Public Accounting Firm 14 | | | Exemption Report 15 | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### **Report of Independent Registered Public Accounting Firm** To the Member and Those Charged With Governance of Chiron Securities LLC #### **Opinion on the Financial Statements** We have audited the accompanying statement of financial condition of Chiron Securities LLC (the Company) as of December 31, 2024, the related statements of operations, changes in member's equity, and cash flows for the year then ended, and the related notes to the financial statements (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024, 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 for Opinion** These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company'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 the Company in accordance with 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. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. 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** The supplementary information contained in The Schedule I, Computation of Net Capital Under SEC Rule 15c3-1, Schedule II, Computation for Determination of Reserve Requirements Under Rule SEC 15c3-3 and Schedule III, Information Relating to the Possession or Control Requirements Under SEC Rule 15c3-3 have been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. The supplemental information is the responsibility of the Company'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 > 325 North Saint Paul Street Suite 3100 Dallas, Texas 75201 214.738.1998 {5}------------------------------------------------ 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 supplementary information contained in the Schedule I, Computation of Net Capital Under SEC Rule 15c3- 1, Schedule II, Computation for Determination of Reserve Requirements Under SEC Rule 15c3-3 and Schedule III, Information Relating to the Possession or Control Requirements Under SEC Rule 15c3-3 are fairly stated, in all material respects, in relation to the financial statements as a whole. We have served as the Company's auditor since 2019. Dallas, Texas April 14, 2025 {6}------------------------------------------------ #### **CHIRON SECURITIES LLC STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 2024** | ASSETS | | | |-------------------------------------|-----------------------------|--------------------------| | | Cash | \$ 27,242 | | | Prepaid
Expenses | 4,164 | | | | | | | TOTAL
ASSETS | \$ 31,406 | | | | | | LIABILITIES
&
EQUITY | | | | LIABILITIES | | | | | Accounts
Payable | \$ 3,325 | | | | | | | TOTAL
LIABILITIES | \$ 3,325 | | | | | | EQUITY | | | | | | | | | TOTAL
MEMBER'S
EQUITY | \$ 28,081 | | | | | | TOTAL
LIABILITIES
&
EQUITY | | \$ 31,406 | The accompanying notes are an integral part of these financial statements. {7}------------------------------------------------ #### **CHIRON SECURITIES LLC STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 2024** #### **REVENUES** | Total
revenues | \$ 1,821,960 | |-------------------------------------------------------------------------------|---------------------------------------| | OPERATING
EXPENSES | | | Management
fee
Regulatory
fees
Accounting
Professional
fees | 1,758,192
8,786
9,365
23,855 | | Total
expenses | 1,800
198 | | NET
INCOME | \$ 21,762 | The accompanying notes are an integral part of these financial statements. {8}------------------------------------------------ #### **CHIRON SECURITIES LLC STATEMENT OF CHANGES IN MEMBER'S EQUITY FOR THE YEAR ENDED DECEMBER 31, 2024** #### **REVENUES** | Total
revenues | \$ 1,821,960 | |-------------------------------------------------------------------------------|---------------------------------------| | OPERATING
EXPENSES | | | Management
fee
Regulatory
fees
Accounting
Professional
fees | 1,758,192
8,786
9,365
23,855 | | Total
expenses | 1,800
198 | | NET
INCOME | \$ 21,762 | The accompany notes are an integral part of these financial statements. {9}------------------------------------------------ #### **CHIRON SECURITIES LLC STATEMENT OF CHANGES IN CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2024** | CASH
FLOWS
FROM
OPERATING
ACTIVITIES | | |----------------------------------------------------------------------------------|--------------------------------------| | Net
Income | \$ 21,762 | | Adjustments
to
reconcile
net
loss
to
net
cash
used
in | | | operating
activities: | | | Increase
in
prepaid
expenses | (4,164) | | Increase
in
accounts
payable | 3,325 | | | | | Net
cash
provided
by
operating
activities | 20,923 | | | | | CASH
FLOWS
FROM
FINANCING
ACTIVITIES | | | Net
cash
provided
by
financing
activities | \$ ‐‐ | | | | | Increase
in
cash | \$ 20,923 | | | | | CASH,
beginning
of
period | \$ 6,319 | | | | | CASH,
end
of
period | \$ 27,242 | The accompany notes are an integral part of these financial statements. {10}------------------------------------------------ #### **NOTE 1. ORGANIZATION AND OPERATIONS** Weisser, Johnson & Co. Capital Corporation was organized on January 10, 1992 under the laws of the State of Delaware to engage solely in the business of a registered broker dealer. In February 2003, the Company converted to Weisser Johnson Capital LP, a limited partnership, and in December 2009 the Company converted to Weisser Johnson Capital LLC (the Company). In November 2015, the name of the Company was changed to Leecam Advisors LLC and in October 2016 the name of the Company was changed to Chiron Capital LLC. In December of 2018 the name of the Company was changed to Chiron Securities LLC. The Company is a registered broker dealer with the Securities and Exchange Commission (SEC) and a member of the Financial Industry Regulatory Authority (FINRA). The Company operates in Houston, Texas brokering private placement investments to a select group of institutional investors. #### **NOTE 2. SIGNIFICANT ACCOUNTING POLICIES** This summary of significant accounting policies of the Company is presented to assist in understanding the financial statements. The financial statements and notes are representations of management, who are responsible for their integrity and objectivity. These accounting policies reflect industry practices, conform to accounting principles generally accepted in the United States of America, and have been consistently applied in the preparation of the financial statements. The following items comprise the significant accounting policies of the Company. #### **Revenues** Revenues are recognized at the date of funding, which typically occurs in conjunction with the brokered deal. #### **Income Taxes** The Company is treated as a flow-through entity for income tax purposes. As a result, the net taxable income of the Company and any related tax credits, for federal income tax purposes, are deemed to pass to the individual members and are included in their personal tax returns even though such net taxable income or tax credits may not actually have been distributed. Accordingly, no tax provision has been made in the financial statements since income tax is a personal obligation of the individual members. The Company recognizes and measures its unrecognized tax benefits in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740, *Income Taxes*. FASB ASC 740 provides guidance on derecognition, measurement and classification of amounts relating to uncertain tax positions, accounting for and disclosure of interest and penalties, and disclosures relating to the adoption of the accounting standard. As of December 31, 2024, the Company believes there are no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. {11}------------------------------------------------ #### **NOTE 2. SIGNIFICANT ACCOUNTING POLICIES - CONTINUED** The Company recognizes interest and penalties on state income taxes in the statement of operations. For the year ended December 31, 2024, the Company had no interest or penalties on state income taxes. The Company's tax years 2019 through the present remain subject to examination by major tax jurisdictions. #### **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, if any, 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. ## **NOTE 3. NET CAPITAL REQUIREMENTS** The Company is subject to the Securities and Exchange Commission Uniform Net Capital Rule (SEC rule 15c3-1), which requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. As of December 31, 2024, the Company's aggregate indebtedness to net capital ratio was 0.14 to 1 and its net capital was \$23,917, which is more than the minimum net capital required of \$5,000. ## **NOTE 4. LIABILITIES SUBORDINATED TO CLAIMS OF GENERAL CREDITORS** During the year ended December 31, 2024, there were no liabilities subordinated to the claims of general creditors. Accordingly, a statement of changes in liabilities subordinated to claims of general creditors has not been included in these financial statements. ## **NOTE 5. COMMITMENTS AND CONTINGENCIES** The Company does not have any commitments, guarantees or contingencies. The Company is not aware of any threats or other circumstances that may lead to the assertion of a claim at a future date. #### **NOTE 6. SHARED EXPENSES** The Company shares certain expenses that are allocated from an affiliated company related to costs including payroll, office space and technology. The affiliated company pays these expenses and the Company has no obligation to the vendors of the affiliated company. The affiliated company may choose to forgive any amounts that were allocated to the Company. As of December 31, 2024, the Company incurred \$93,375 of allocated expenses of which 100% were forgiven by the affiliated company. The allocated expense, and the related forgiveness, are excluded from the financial statements. {12}------------------------------------------------ #### **NOTE 7. SEGMENT REPORTING** The Accounting Standards Update (ASU) 2023-07 issued by the Financial Accounting Standards Board (FASB) introduced enhancements to segment reporting requirements for public entities, including broker-dealers. The update aimed to improve the transparency and usefulness of financial disclosures for investors and other stakeholders. ASU 2023-07 disclosure requirements are effective for fiscal years starting after December 15, 2024. The chief operating decision maker is the President of the Company and determined that no additional disclosures are required as the Company has only one reportable segment. #### **NOTE 8. MANAGEMENT FEES** The Company entered into a Management Fee Agreement with an affiliate. Under the agreement, the Company is obligated to pay a discretionary management fee to the affiliate for services including strategic leadership, business experience, and marketing support essential to the Company's operations as a registered broker-dealer. The fee is invoiced at the affiliate's discretion, with no payments due until invoiced. For the year ended December 31, 2024, the Company incurred \$1,758,192 in fees. The agreement renews annually unless terminated with 30 days' written notice by either party. {13}------------------------------------------------ # **SUPPLEMENTAL INFORMATION** {14}------------------------------------------------ #### **SCHEDULE I CHIRON SECURITIES LLC COMPUTATION OF NET CAPITAL UNDER RULE 15C3-1 OF THE SECURITIES AND EXCHANGE COMMISSION AS OF DECEMBER 31, 2024** | COMPUTATION OF NET CAPITAL
Total members' equity qualified for net capital | \$
23,917 | |------------------------------------------------------------------------------------|--------------| | Add:
Other deductions or allowable credits | - | | Total capital and allowable subordinated liabilities | 23,917 | | Net capital before haircuts on securities positions | 23,917 | | Haircuts on securities (computed, where applicable,
pursuant to Rule 15c3-1(f)) | - | | Net capital | \$ 23,917 | | AGGREGATE INDEBTEDNESS | | | Items included in statement of financial condition: | | | Total aggregate indebtedness | -- | {15}------------------------------------------------ #### **SCHEDULE I - CONTINUED CHIRON SECURITIES LLC COMPUTATION OF NET CAPITAL UNDER RULE 15C3-1 OF THE SECURITIES AND EXCHANGE COMMISSION AS OF DECEMBER 31, 2024** #### **COMPUTATION OF BASIC NET CAPITAL REQUIREMENT** | Minimum net capital required (6 2/3% of total | \$ | |-------------------------------------------------------------------------------------------|--------------| | aggregate indebtedness) | 222 | | Minimum dollar net capital requirement of | \$ | | reporting broker or dealer | 5,000 | | Net capital requirement (greater of above two | \$ | | minimum requirement amounts) | 5,000 | | Net capital in excess of required minimum | \$
18,917 | | Excess net capital at 1000% | \$
17,917 | | Ratio: Aggregate indebtedness to net capital
RECONCILIATION WITH COMPANY'S COMPUTATION | 0.14 to 1 | There were no differences in the computation of net capital under Rule 15c3-1 from the Company's computation. {16}------------------------------------------------ #### **SCHEDULE II & III CHIRON SECURITIES LCC COMPUTATION FOR DETERMINATION OF RESERVE REQUIREMENTS UNDER RULE 15c3-3 AND INFORMATION RELATING TO POSSESSION OR CONTROL REQUIREMENTS UNDER SEC RULE 15c3-3** The Company does not claim an exemption from SEA Rule 15c3-3, in reliance on footnote 74 to SEC Release 34-70073, and as discussed in Q&A 8 of the related FAQ issued by SEC staff. The Company does not (1) directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, (2) does not carry accounts of or for customers and (3) does not carry PAB accounts. {17}------------------------------------------------ ![](_page_17_Picture_0.jpeg) #### **Report of Independent Registered Public Accounting Firm** To the Member and Those Charged With Governance of Chiron Securities LLC We have reviewed management's statements, included in the accompanying Exemption Report, in which Chiron Securities LLC (the Company) stated that: - 1. The Company does not claim an exemption under paragraph (k) of 17 C.F.R. § 240.15c3-3; - 2. The Company is filing an Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 because the Company limits its business activities exclusively to (1) private placement of securities exclusively with accredited and institutional investors (2) mergers and acquisitions and related advisory services throughout the most recent fiscal year; and - 3. The Company (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers (other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of 17 C.F.R. § 240.15c2-4; (2) did not carry accounts of or for customers; and (3) did not carry proprietary accounts of broker-dealers (as defined in 17 C.F.R. § 240.15c3-3) throughout the most recent fiscal year without exception. The Company's management is responsible for 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 that the Company limited its business activities exclusively to (1) private placement of securities exclusively with accredited and institutional investors (2) mergers and acquisitions and related advisory services and (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers (other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of 17 C.F.R. § 240.15c2-4; (2) did not carry accounts of or for customers; and (3) did not carry proprietary accounts of broker-dealers (as defined in 17 C.F.R. § 240.15c3-3) throughout the most recent fiscal year without exception. 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 17 C.F.R. § 240.17a-5. Dallas, Texas April 14, 2025 325 North Saint Paul Street Suite 3100 Dallas, Texas 75201 214.738.1998 {18}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ource: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.