# METRIC FINANCIAL INC. X-17A-5 (2022-03-18) — Broker-dealer annual report - Company: METRIC FINANCIAL INC. - Form: X-17A-5 - Filed: 2022-03-18 - Period: 2021-12-31 - Accession: 0000915224-22-000002 - CIK: 915224 - File #: 8-46684 - Type: Broker-dealer - Material weakness: No - Auditor: DAVID LUNDGREN - Auditor location: OLATHE, KS - Contact: WILLIAM CRAPPS - Phone: 404-579-0747 - Signed by: WILLIAM CRAPPS (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/915224/000091522422000002/metricaudit123121.pdf --- {0}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** 0MB APPROVAL 0MB Number: 3235-0123 Expires: Oct. 31, 2023 Estimated average burden hours per response: 12 > SEC FILE NUMBER 8-46684 ## **ANNUAL REPORTS FORM X-17A-5 PART Ill** **FACING PAGE** Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | | /
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y | partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely as that of a customer. - - D (b) Notes to consolidated statement of financial condition. - (c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of comprehensive income (as defined in§ 210.1-02 of Regulation S-X). - iii (d) Statement of cash flows. - (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. i - (f) Statement of changes in liabilities subordinated to claims of creditors. D - (g) Notes to consolidated financial statements. - (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. l - (i) Computation of tangible net worth under 17 CFR 240.18a-2. D - (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. D - (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. D - D (I) Computation for Determination of PAB Requirements under Exhibit A to§ 240.15c3-3. - (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. D - (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable. D - (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist. - D (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. - D (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - El (t) Independent public accountant's report based on an examination of the statement of financial condition. - (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - D (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - � (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - D (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as applicable. - D (y) Report describing any material inadequacies found to exist or found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). - D(z) Other: \_ - *To request confidential treatment of certain portions of this fifing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable.* ![](_page_1_Picture_33.jpeg) CEO Title: {2}------------------------------------------------ ### METRIC FINANCIAL, INC. #### FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES With Report of Independent Registered Public Accounting Firm December 31, 2021 For the Year Ended {3}------------------------------------------------ ### TABLE OF CONTENTS For the Year Ended December 31, 2021 | REPORT
OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM … | 1 | |--------------------------------------------------------------------------------------------------------------------------------------------------|-----| | FINANCIAL STATEMENTS | | | Statement of Financial Condition … | 2 | | Statement of Income … | 3 | | Statement of Changes in Stockholder's Equity … | 4 | | Statement of Cash Flows … | 5 | | NOTES TO THE FINANCIAL STATEMENTS … | 6-9 | | SUPPLEMENTAL SCHEDULES | | | Schedule 1:
Computation of Net Capital
under Rule 15c3-1 of the Securities | | | and Exchange Commission … | 10 | | Schedule II:
Computation of Determination of Reserve Requirements for Brokers
and Dealers Pursuant to Rule 15c3-3 under the Securities and | | | Exchange Commission … | 11 | | Schedule III:
Information Relating to the Possession or Control Requirements | | | under the Securities and Exchange Commission Rule 15c3-3 … | 12 | {4}------------------------------------------------ **TELEPHONE (913) 782-9530 FACSIMILE (913) 782-9564** #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Shareholders of Metric Financial Inc #### **Opinion on the Financial Statements** We have audited the accompanying statement of financial condition of Metric Financial Inc as of December 31, 2021, the related statements of income, changes in stockholder's equity, and cash flows for the year then ended, and the related notes and schedules (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of Metric Financial 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 for Opinion** These financial statements are the responsibility of Metric Financial Inc's management. Our responsibility is to express an opinion on Metric Financial 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 Metric Financial 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. ### **Auditor's Report on Supplemental Information** The Schedules I, II, and III have been subjected to audit procedures performed in conjunction with the audit of Metric Financial Inc's financial statements. The supplemental information is the responsibility of Metric Financial 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 Schedules I, II and Ill are fairly stated, in all material respects, in relation to the financial statemey a whole. *722./int* We have served as Metric Financial Inc's auditor since 2020. Olathe, Kansas March 15, 2022 {5}------------------------------------------------ ### STATEMENT OF FINANCIAL CONDITION For the Year Ended December 31, 2021 | ASSETS | | |--------------------------------------------------------------------------------------------------|---------------| | Cash | \$ 2,804,255 | | Accounts
Receivable | 514,355 | | Prepaid Expenses | 22,643 | | TOTAL
ASSETS | \$ 3,341,253 | | | | | LIABILITIES
AND
MEMBER'S
EQUITY | | | LIABILITIES | | | Accounts
Payable &
Accrued Liabilities | \$
359,271 | | TOTAL
LIABILITIES | \$
359,271 | | STOCKHOLDER'S
EQUITY | | | Capital
Stock,
\$1 par value, 80,000 shares authorized 2,723 shares issued and outstanding | \$
2,723 | | Additional
Paid in Capital | 56,148 | | Retained Earnings | 2,923,111 | | STOCKHOLDER'S
EQUITY | \$ 2,981,982 | | TOTAL
LIABILITIES
AND STOCKHOLDER'S
EQUITY | \$ 3,341,253 | {6}------------------------------------------------ ### STATEMENT OF INCOME For the Year Ended December 31, 2021 | REVENUES | | |---------------------------------------|-----------------| | Managing
Dealer
Revenue | \$
3,610,886 | | Interest Income | 3,043 | | TOTAL
REVENUES | \$
3,613,929 | | | | | EXPENSES | | | Compensation &
Benefits | \$
965,069 | | Professional Fees | 95,379 | | Regulatory Fees | 24,449 | | Technology, Data, &
Communications | 12,594 | | Travel
&
Entertainment | 3,619 | | Occupancy
&
Equipment | 3,173 | | Other Expenses | 3,292 | | TOTAL
EXPENSES | \$
1,107,575 | #### NET INCOME (Loss) \$ 2,506,354 {7}------------------------------------------------ #### STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY For the Year Ended December 31, 2021 | | Common
Stock | Additional
Paid in Capital | | | Retained
Earnings | | Total | | |------------------------------------|-----------------|-------------------------------|--------|----|----------------------|----|----------------|--| | BALANCE AT DECEMBER 31, 2020 | \$
2,723 | \$ | 51,448 | \$ | 416,757 | \$ | 470,928 | | | Contributions | - | | 4,700 | | - | | 4,700 | | | Distributions
Net Income (Loss) | -
- | | -
- | | -
2,506,354 | | -
2,506,354 | | | BALANCE AT DECEMBER 31, 2021 | \$
2,723 | \$ | 56,148 | \$ | 2,923,111 | \$ | 2,981,982 | | {8}------------------------------------------------ ### STATEMENT OF CASH FLOWS For the Year Ended December 31, 2021 | CASH FLOWS FROM OPERATING ACTIVITIES | | |-------------------------------------------------------------------------------------|-----------------| | Net Income (Loss) | \$
2,506,354 | | Adjustments
to reconcile net income to net cash provided by operating activities | | | Accounts Receivable | (466,767) | | Prepaid Expenses | (19,990) | | Accounts Payable, Accrued Expenses, & Other
Liabilities | (119,934) | | Net
Cash Provided by Operating Activities | \$
1,899,663 | | CASH FLOWS FROM FINANCING ACTIVITIES | | | Contribution | \$
4,700 | | Distribution | - | | Net
Cash Provided by Financing Activities | \$
4,700 | | NET
INCREASE
(DECREASE) IN CASH | 1,904,364 | | CASH AT BEGINNING
OF YEAR | 899,891 | | CASH BALANCE AT END OF YEAR | \$
2,804,255 | {9}------------------------------------------------ ### NOTES TO THE FINANCIAL STATEMENTS For the Year Ended December 31, 2021 ### 1. Organization and Nature of Business Metric Financial, Inc. (the Company) is a broker dealer registered with the Securities and Exchange (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA). The Company provides the ability to transact from outside sources in order to distribute investment products and assist in the free flow of securities in the open market. The Company does not hold funds or securities for the accounts of its customers. ### 2. Significant Accounting and Reporting Policies #### Basis of Presentation The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States (GAAP) as determined by the Financial Accounting Standards Board (FASB) Accounting Standards Codificiation (ASC). The Company believes that the disclosures in these financial statements are adequate and not misleading. In the opinion of management, the financial statements contain all adjustments necessary for a fair presentation of the Company's financial position as of December 31, 2021, and is not necessarily indicative of the results for any future period. ### 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 liabilites and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. #### Cash and Cash Equivalents The Company maintains its cash in bank deposit account(s) which, at times, may exceed federally insured limits. The Company monitors the bank account(s) and does not expect to incur any losses from such account(s). The Company has defined cash and cash equivalents as highly liquid investments with original maturities of less than ninety days that are not held-for-sale in the ordinary course of business. The recorded value of such instruments approximates their fair value. At December 31, 2021, the Company had no cash equivalents. ### Revenue The Company has adopted Financial Accounting Standards Board (FASB) Accounting Standards Update 2014-09, Revenue from Contracts with Customers (ASU 2014-09) and the FASB's Accounting Standards Update 2016-08, Principal vs. Agent Considerations (ASU 2016-09). The income reported on the Statement of Income is comprised of private placement revenue and other service fees. The Company considers revenue to be generated when the Company satisfies a performance obligation. {10}------------------------------------------------ ### NOTES TO THE FINANCIAL STATEMENTS For the Year Ended December 31, 2021 ### 2. Significant Accounting and Reporting Policies - Continued Additionally, the guidance requires the Company adhere to the following model: a) identify the contract with the customer, b) identify the performance obligations in the contract, c) determine the transaction price, d) allocate the transaction price to the performance obligations in the contract, and e) recognize revenue when (or as) the Company satisfies a performance obligation. Revenues from fees arising from private securities placement in which the Company acts an agent are recorded pursuant to the terms of the Company's agreements with the respective offering parties. Typcially, fees are recorded based upon the capital commitments obtained as of the closing for a respective placement when all performance obligations to the client have been completed. Revenues from fees arising from mergers, acquisitions, and other corporate reorganization transactions are recorded as success fees based on the achievement of performance obligations, agreed upon with the client, such as closing of the transaction. ### Accounts Receivable At December 31, 2021, accounts receivable consisted of current billings that were collected in January 2022. Accounts receivable are stated at the amount management expects to collect from outstanding accounts. Management provides for probable uncollectable accounts through a provision for bad debt expense and an adjustment to a valuation allowance based on its assessment of the current status of individual accounts. Accounts that are unpaid after management has used reasonable collections efforts are written off through a charge to the valuation allowance and a credit to accounts receivable. As of December 31, 2021, no allowance for uncollectable accounts was deemed necessary. ### Fair Value Measurements Fair Value - FASB ASC 820, Fair Value Measurement and Application, defines fair value as the price that would be received from sales of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Statement establishes a three level hierarchy of inputs used to measure fair value. Level 1) Inputs are unadjusted quoted prices in active markets for identical assets or liablities. Level 2) Inputs other than the quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3) Inputs are unobservable inputs such as management's assumption of the default rate among mortgages of a mortgage backed security. {11}------------------------------------------------ ### NOTES TO THE FINANCIAL STATEMENTS For the Year Ended December 31, 2021 ### 2. Significant Accounting and Reporting Policies - Continued The Standards provide guidance on applying fair value to alternative investments, such as hedge and private equity funds. It also enhances disclosure requirements around those types of intstruments. Fair value measurements are based not on entry prices, but rather on exit prices - the price that would be received to sell the asset or paid to the transfer of the liability. While entry and exit prices differ conceptually, in many cases, they may be identical and can be considered to respresent fair value of the asset or liability at initial recognition. #### Income Taxes The Company is currently a C Corporation. In 2020, the Company began the process to become an S Corporation. However, as of December 31, 2021, the election change has not been approved by the IRS. A tax accrual is on the financials for the year ending December 31, 2020, in the amount of \$72,533.90. Because the application asked for the change to be effective in 2020, no taxes were accrued for the year ending December 31, 2021. #### Coronavirus In the second year of the COVID-19 coronavirus pandemic, the adverse impacts to global commercial activity has continued to contribute to significant volatility in the financial markets. Government imposed responses and other related recovery measures intended to control the spread of the disease have created a variety of unintended challenges and risks. As such, economic uncertainty, changes in consumer demand, disrupted supply chains, staffing shortages, and hybrid working patterns all continue to have a negative impact on many industries. The continued development and fluidity of this situation precludes any prediction as to the ultimate material adverse impact of the COVID-19 coronavirus. Nevertheless, the COVID-19 coronavirus presents material uncertainty and risk with respect to the Company, its performance, and its financial results. At present, the extent to which the coronavirus may impact the Company's financial condition or results of operations in future periods is uncertain. #### 3. Related Parties Metric Financial, Inc. is solely owned by entities, by Bilal Malik of Malik Law Group (MLG) which has entered into an expense sharing agreement with the Company. Since the start of the Coronavirus pandemic, MLG has forgiven the Company of any expenses due. ### 4. Net Capital Requirements The Company is subject to the SEC's Uniform Net Capital Rule (SEC Rule 15c3-1) of the Securities Exchange Act of 1934 which requires maintenance of minimum net capital. Under the Rule, the Company is required to maintain minimum net capital, as defined, equal to the greater of \$5,000 or 6 2/3% of aggregate indebtedness. The ratio of aggregated indebtedness to net capital cannot exceed 1500% or 15:1. At December 31, 2021, the Company had net capital of \$2,444,984 which was \$2,421,033 in excess of its required minimum net capital of \$23,951. The ratio of aggregate indebtedness to net capital was 14.69%. {12}------------------------------------------------ ### NOTES TO THE FINANCIAL STATEMENTS For the Year Ended December 31, 2021 #### 5. Operating Lease Obligations The Company is required to record a right-of-use asset and a corresponding lease liability on the balance sheet for all leases with terms greater than twelve months. All such leases are to be classified as either finance or operating. The Company has no lease obligations that required recording or disclosures in the December 31, 2021, financial statements. #### 6. Subordinated Liabilities The Company had no liabilities subordinated to the claims of general creditors as of the beginning of the year, end of the year, and during the year ended December 31, 2021. #### 7. Subsequent Events Management has evaluated all events or transactions that occurred after December 31, 2021, through the date of the issued financial statements. During this period, there were no material recognizable subsequent events that required recording or disclosures in the December 31, 2021, financial statements. #### 8. Commitments, Contingencies, and Guarantees The Company does not have any commitments, contingencies, or guarantees, including arbitration or other litigation claims that may result in a loss or a future obligation. {13}------------------------------------------------ #### SCHEDULE I Computation of Net Capital under Rule 15c3-1 of the Securities and Exchange Commissions December 31, 2021 | COMPUTATION OF NET CAPITAL | | | | |-------------------------------------------------------------------|-----------------|---------------|-----------------| | | Submitted | | Updated | | | FOCUS | Adjustments | Information | | TOTAL STOCKHOLDER'S EQUITY | \$
2,781,982 | 200,000 | \$
2,981,982 | | LESS: | | | | | Non-Allowable Assets | | | | | Fixed Assets (net) | - | - | - | | Prepaid Expenses | (22,643) | - | (22,643) | | Accounts Receivable | (511,566) | (2,789) | (514,355) | | Total Non-Allowable Assets | (534,209) | (2,789) | (536,998) | | Other Operational Deductions or Charges | - | - | - | | TENTATIVE NET CAPITAL | 2,247,773 | 197,211 | 2,444,984 | | HAIRCUTS ON SECURITIES | - | - | - | | NET CAPITAL | \$
2,247,773 | \$
197,211 | \$
2,444,984 | | Minimum dollar net capital requirement of reporting broker dealer | 37,099 | (13,148) | 23,951 | | EXCESS NET CAPITAL | \$
2,210,674 | \$
210,359 | \$
2,421,033 | | TOTAL AGGREGATE INDEBTEDNESS | 556,482 | (197,210) | 359,272 | | MINIMUM NET CAPITAL BASED ON AI | 37,099 | (13,148) | 23,951 | | PERCENTAGE OF NET CAPITAL TO AI | 24.76% | -10.07% | 14.69% | There are no material differences between net capital in Part IIA of Form X-17A-5 and net capital above. {14}------------------------------------------------ ### SCHEDULE II Computation for Determination of Reserve Requirements for Brokers and Dealers Pursuant to Rule 15c3-3 under the Securities and Exchange Act of 1934 December 31, 2021 The Company is exempt from the provisions of Rule 15c3-3 under the Securities and Exchange Act of 1934, pursuant to paragraph (k)(2)(i) of the rule. See accompanying report of independent registered public accounting firm. {15}------------------------------------------------ ### SCHEDULE III Information Relating to the Possession or Control Requirements under the Securities and Exchange Commission Rule 15c3-3 December 31, 2021 The Company is exempt from the provisions of Rule 15c3-3 under the Securities and Exchange Act of 1934, pursuant to paragraph (k)(2)(i) of the rule. See accompanying report of independent registered public accounting firm. {16}------------------------------------------------ **DAVID** B. LUNDGREN, **MBA, CPA** CATHERINE LUNDGREN **MBA, CPA** **TELEPHONE (913) 7829530 FACSIMILE (913) 782-9564** #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Directors and Shareholders of Metric Financial Inc. We have reviewed management's statements, included in the accompanying Exemption Report, in which (1) Metric Financial, Inc. identified the following provisions of 17 C.F.R. \$15c3-3(k) under which Metric Financial Inc. claimed an exemption from 17 C.F.R. §240.15c3-3: (k)(2)(i) (the Customer Protection Rule) and (2) Metric Financial, Inc. stated that Metric Financial, Inc. met the identified exemption provisions throughout the most recent fiscal year without exception. Metric Financial Inc. '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 Metric Financial 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. *2.4/4* 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)(2)() of Rule 15c3-3 under the Securities Exchange Act of 1934. Olathe, Kansas March 15, 2022 {17}------------------------------------------------ Report of Exemption from SEC Rule 15c3-3 I, William Crapps, Chief Compliance Officer of Metric Financial Inc, attest to the following as required by SEC in conjunction with our annual audit report for the period ending December 31, 2021. Metric Financial Inc. claims exemption from SEC Rule 15c3-3 under the (k)(2)(i) provision. Metric Financial Inc. did ot hold any customer funds or securities at any time during the year. Metric Financial Inc. met the identified exemption provisions throughout the reporting period of January 1, 2021 through December 31, 2021, without exception. William Crapps Metric Financial, Inc. {18}------------------------------------------------ #### **DAVID LUNDGREN** & **COMPANY** CERTIFIED PUBLIC ACCOUNTANTS, CHARTERED **505 NORTH MUR-LEN ROAD** OLATHE, **KANSAS 66062** DAVID B. LUNDGREN, **MBA,** CPA CATHERINE LUNDGREN **MBA,** CPA TELEPHONE **(913) 782-9530 FACSIMILE** (913) **782-9564** #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ON APPL YING AGREED-UPON PROCEDURES Board of Directors of Metric Financial Inc We have performed the procedures included in Rule 17a-5(e)(4) under the Securities Exchange Act of 1934 and in the Securities Investor Protection Corporation (SIPC) Series 600 Rules, which are enumerated below on the accompanying General Assessment Reconciliation (Form SIPC-7) for the year ended December 31, 2021. Management of Metric Financial Inc (Company) is responsible for its Form SIPC-7 and for its compliance with the applicable instructions on Form SIPC-7. Management of the Company has agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose of assisting you and SIPC in evaluating the Company's compliance with the applicable instructions on Form SIPC-7 for the year ended December 31, 2021. Additionally, SIPC has agreed to and acknowledged that the procedures performed are appropriate for their intended purpose. This report may not be suitable for any other purpose. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The sufficiency of these procedures is solely the responsibility of those parties specified in this report. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose. The procedures we performed and our findings are as follows: - 1) Compared the listed assessment payments in Form SIPC-7 with respective cash disbursement records entries, noting no differences; - 2) Compared the Total Revenue amounts reported on the Annual Audited Report Form X-17A-5 Part Ill for the year ended December 31, 2021 with the Total Revenue amount reported in Form SIPC-7 for the year ended December 31, 2021, noting no differences; - 3) Compared any adjustments reported in Form SIPC-7 with supporting schedules and working papers, noting no differences; - 4) Recalculated the arithmetical accuracy of the calculations reflected in Form SIPC-7 and in the related schedules and working papers supporting the adjustments, noting no differences; and - 5) Compared the amount of any overpayment applied to the current assessment with the Form SIPC-7 on which it was originally computed, noting no differences. We were engaged by the Company to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the AICPA and in accordance with the standards of the Public Company Accounting Oversight Board (United States). We were not engaged to and did not conduct an examination or a review engagement, the objective of which would be the expression of an opinion or conclusion, respectively, on the Company's Form SIPC-7 and for its compliance with the applicable instructions on Form SIPC-7 for the year ended December 31, 2021. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you. We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement. This report is intended solely for the information and use of the Company and SIPC and is not intended to b: *ai* 3 =t b,e "r '-:'. e./7\_:;...,.y a ;n o\_n-\_er/2: th;er \_ than these specified parties. ... s � O M l a a r t c h h e, 15 K , an 20 sa 2 2 {19}------------------------------------------------ | SIPC-7 | | |----------------|--| | (36-REV 12/18) | | # SECURITIES INVESTOR PROTECTION CORPORATION Mail Code: 8967 P.O. Box 7247 Philadelphia, PA 19170-0001 coco«awe..**2021** ### **General Assessment Reconciliation** ![](_page_19_Picture_3.jpeg) (Read carefully the instructions in your Working Copy before completing this Form) ### **TO BE FILED BY ALL SIPC MEMBERS WITH FISCAL YEAR ENDINGS** 1. Name of Member, address, Designated Examining Authority, 1934 Act registration no. and month in which fiscal year ends for purposes of the audit requirement of SEC Rule 17a-5: 7 l8-46684 Metric Financial Inc. **6250 Shiloh RD, STE 30, Room 3 Alpharetta, GA 30005** Note: If any of the information shown on the mailing label requires correction, please e-mail any corrections to form@sipc.org and so indicate on the form filed. \_J Name and telephone number of person to contact respecting this form. ### William Crapps 404-579-0747 | 2. A. | General Assessment (item 2e from page 2) | 5441
· | |-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------| | | Less payment made with SIPC-6 filed (exclude interest)
B. | 1153 | | | Date Paid | 4 | | | Less prior overpayment applied
C.
Assessment balance due or (overpayment)
D. | 1
_
4247 | | | Interest computed on late payment (see instruction E) for
E. | 0
days at 20% per annum | | | Total assessment balance and interest due (or overpayment carried forward)
F. | 4
247 | | | 4
in
o. pymwewt,
[],
ho:
y
[J
[Funds Wired
Check mailed to P.0. Box]
Total (must be same as F above) | J
e
4247 | | | H. Overpayment carried forward | _
\$( | | | 3. Subsidiaries (S) and predecessors (P) included in this form | (give name and 1934 Act registration number): | | | The SIPC member submitting this form and the
person by whom it is executed represent thereby
that all information contained herein is true, correct
and complete. | Metric Financial
Inc.
{Name of Cor�tion, Partnership or other organization) | 0ate n15\_a, a **March • 22** CEO (Title) This form and the assessment payment is due 60 days after the end of the fiscal year. Retain the Working Copy of this form for a period of not less than 6 years, the latest 2 years in an easily accessible place. | | P | | | for a period of not less than 6 years, the latest 2 years in an easily accessible place. | | |-----------|----------------|----------------------------|----------|------------------------------------------------------------------------------------------|--------------| | | E a
tes: | | | | | | =
A | | ostmarked | Received | Reviewed | | | _C
LAM | alculations | | | Documentation | Forward G0py | | cc:
c | cs Exceptions: | | | | | | | | Disposition of exceptions: | | | | {20}------------------------------------------------ ### **DETERMINATION OF "SIPC NET OPERATING REVENUES" AND GENERAL ASSESSMENT** Amounts for the fiscal period **beginning V 1. 1cc and ending** 'r vw | Item No.
2a. Total revenue (FOCUS Line 12/Part IIA Line 9, Code 4030) | Eliminate cents
·3613929 | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------| | 2b. Additions:
(1) Total revenues from the securities business of subsidiaries (except foreign subsidiaries) and
predecessors not included above. | | | (2) Net loss from principal transactions in securities in trading accounts. | | | (3) Net loss from principal transactions in commodities in trading accounts. | | | (4) Interest and dividend expense deducted in determining item 2a. | | | (5) Net loss from management of or participation in the underwriting or distribution of securities. | | | (6) Expenses other than advertising, printing, registration fees and legal fees deducted in determining net
profit from management of or participation in underwriting or distribution of securities. | | | (7) Net loss from securities in investment accounts. | | | Total additions | 3613929 | | 2c. Deductions:
(t) Revenues from the distribution of shares of a registered open end investment company or unit
investment trust, from the sale of variable annuities, from the business of insurance, from investment
advisory services rendered to registered investment companies or insurance company separate
accounts, and from transactions in security futures products. | | | (2) Revenues from commodity transactions. | | | (3) Commissions, floor brokerage and clearance paid to other SIPC members in connection with
securities transactions. | | | (4) Reimbursements for postage in connection with proxy solicitation. | | | (5) Net gain from securities in investment accounts. | | | (6) 100% of commissions and markups earned from transactions in (i) certificates of deposit and
(ii) Treasury bills, bankers acceptances or commercial paper that mature nine months or less
from issuance date. | | | (7) Direct expenses of printing advertising and legal fees incurred in connection with other revenue
related to the securities business (revenue defined by Section 16(9)(L) of the Act). | | | (8) Other revenue not related either directly or indirectly to the securities business.
(See Instruction C): | | | (Deductions in excess 0f \$100,000 require documentation) | | | (9) () Total interest and dividend expense (FOCUS Line 22/PART IIA Line 13,
_
Code 4075 plus line 2b(4) above) but not in excess
of total interest and dividend income.
\$ | | | (ii) 40% of margin interest earned on customers securities
_
accounts (40% of FOCUS line 5, Code 3960).
\$ | | | Enter the greater of line (i) or (ii) | | | Total deductions | 0 | | 2d. SIPC Net Operating Revenues | ,36
13929 | | 2e. General Assessment @ .0015 | ,544
1 | | | (to page 1, line 2.A.) | Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.