# ATLAS STRATEGIC ADVISORS, LLC X-17A-5 (2025-02-28) — Broker-dealer annual report - Company: ATLAS STRATEGIC ADVISORS, LLC - Form: X-17A-5 - Filed: 2025-02-28 - Period: 2024-12-31 - Accession: 0000922104-25-000002 - CIK: 1346706 - File #: 8-67183 - Type: Broker-dealer - Material weakness: No - Auditor: YSL & Associates LLC - Auditor location: New York, NY - Contact: Roberta Mazzariol - Phone: 2124714120 - Email: mazzariol@atlasadvisors.com - Website: atlasadvisors.com - Signed by: Roberta Mazzariol (Managing Director) Original filing: https://www.sec.gov/Archives/edgar/data/1346706/000092210425000002/asa24public.pdf --- {0}------------------------------------------------ STATEMENT OF FINANCIAL CONDITION AND REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM DECEMBER 31, 2024 {1}------------------------------------------------ | | UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 | | OLAS ADDROVAL
OMB Number: 3235-01 23
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8-67 133 | | | | FORM X-17A-5 | | | | | | PARTII | | | | | Information Required Pursuant to Rules 178-5, 17-12, and 180-7 under the Securities Exchange Act of 1934 | FACING PAGE | | | | | FILING FOR THE PERIOD BEGINNING 01/01/2024 AND ENDING 12/31/2024 | | | | | | | MM/DD/TT | | MM/DD/YY | | | | A. REGISTRANT IDENTIFICATION | | | | | NAME OF FIRM. Atlas Strategic Advisors, LLC | | | | | | @ Broker-dealer Security-based swap dealer
Check here if respondent is also an OTC derivatives dealer
ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.)
126 West 22nd Street, Suite 9S | | | [] Major security-based swap participant | | | | (No. and Street) | | | | | New York | NY | | 110011 | | | (City) | (State) | | (tip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | Roberta Mazzariol | -1- (212) 471-4120 | | mazzariol@atlasadvisors.com | | | | | | (Email Address) | | | (Name) | (Area Code - Telephone Number) | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing®
YSL & Associates LLC | | | | | | | (Name - If individual, state last, first, and middle name) | | | | | 11 Broadway, Suite 700 | New York | IN Y | 10004 | | | | (City) | (State) | (2) Code) | | | (Address)
06/06/2006
(Date of Registration with PCAOB)(if applicable) | | 2600 | (PCAOB Registration Number, If applicable) | | الموالي الموقع الموقع الموقع الموقع الموقع الموقع الموقع الموقع الموقع الموقع الموقع الموقع الموقع الموقع الموقع الموقع الموقع الموقع الموقع الموقع الموقع الموقع الموقع المو Persons who are to respond to the collection of information contained in this form are required to respond unless the form displays a currently valid OMB control number. {2}------------------------------------------------ | swear (or affirm) that, to the best of my knowledge and belief, the
Acrono lumin's
financial report pertaining to the firm of Allas Statugic Advisors LLC
as of
12/31
2 024 is true and correct. I further swear (or affirm) that neither the company nor any
partner, officer, director, or equivalent person, as the case may be, has any proprielary interest in any account classified soledy
as that of a customer.
MARYROSE MERCADO
NOTARY PUBLIC, STATE OF NEW YORK
Signature:
Registration No. 01ME6423025
Qualified in Queens County
Title:
Commission Expires October 4, 20 0
Managing Directos
16000
1000 112
Notary Public
This filing ° contains (check all applicable boxes):
(a) Statement of financial condition
[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 9 210, I-02 of Regulation 5 X),
LI (d) Statement of cash flows.
[ ] [e] Statement of changes in stockholders' or partners' or sole proprietor's equity.
[f] Statement of changes in liabilities subordinated to claims of creditors.
(g) Notes to consolidated financial statements.
1 Th Computation of net capital under 17 CFR 240 15c3-1 or 17 CFR 240 18a-1, as applicable.
(1) Computation of tangible net worth under 17 CFR 240.18a-2.
() Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3
L. (k) Computation for determination of security based swap reserve requirements pursuant to Exhibit B to 17 CFR 240 1503-3 or
Exhibit A to 17 CFR 240.18a-4, as applicable
[1] 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.
(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
[ lo] Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net
worth under 17 CFR 240.18a.1, or 17 CFR 240.18a.2, as applicable, and the reserve requirements under 17
CFR 240.15c3 or 17 CFR 240.18a 4, as applicable, if material differences exist, or a statement that no material differences
exist
[ ] [p] Summary of financial data for subsidiaries not consolidated in the statement of financial condition.
I . {q} Oath or affirmation in accordance with 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable.
(r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
{}) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
[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 statements under 17
CFR 240 17a-5, 17 CFR 240 18a-7, or 17 CFR 240.17a-12, as applicable. | OATH OR AFFIRMATION | | | | | | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------|--|--|--|--|--| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | [] {y) independent public accountant s report based on an exammation the complance report under 17 | | | | | | | [] [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. [ {{ \$upplemental reports on applying agreed upon procedures, in accordance with 17 CFR 240.170-12. as appliçable J (y) Report describing any material inadequacles found to have existed since the date of the previous audit, or a statement that no material inadequaties exist, under 17 CFR 240-17a-12(k). O (x) Other \_ \*\* To request confidential treatment of this fling, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.180-7(d)(2), as applicable {3}------------------------------------------------ ### **CONTENTS** | Report of Independent Registered Public Accounting Firm | | |---------------------------------------------------------|-----| | Financial Statement | | | Statement of Financial Condition | 2 | | Notes to Financial Statement | 3-7 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) 11 Broadway, Suite 700, New York, NY 10004 Tel: (212) 232-0122 Fax: (646) 218-4682 ## **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member of Atlas Strategic Advisors, LLC ## **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Atlas Strategic Advisors, LLC (the "Company") as of December 31, 2024, and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Company as of December 31, 2024, in conformity with accounting principles generally accepted in the United States of America. ## **Basis for Opinion** This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statement 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 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 statement is 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 statement, 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. We have served as Atlas Strategic Advisors, LLC's auditor since 2019. New York, NY February 24, 2025 {5}------------------------------------------------ ## **STATEMENT OF FINANCIAL CONDITION** **December 31, 2024** ## **ASSETS** | Cash | \$
19,238 | |------------------------------------------------------|--------------| | Due from parent | 2,005 | | Prepaid expenses and other assets | 6,054 | | TOTAL ASSETS | \$
27,297 | | LIABILITIES AND MEMBER'S EQUITY | | | Liabilities
Accounts payable and accrued expenses | \$
7,000 | | Total liabilities | 7,000 | | Member's equity | 20,297 | | TOTAL LIABILITIES AND MEMBER'S EQUITY | \$
27,297 | {6}------------------------------------------------ ### **NOTES TO FINANCIAL STATEMENT** ### **DECEMBER 31, 2024** #### **1. Nature of business and summary of significant accounting policies** #### *Nature of Business* Atlas Strategic Advisors, LLC (the "Company") was formed in Delaware in January 2004 and is located in New York City. The Company completed its registration as a broker-dealer in May 2006 with the Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA"). The Company is a wholly owned subsidiary of Atlas Advisors, LLC (the "Parent"). The Company is a strategic and financial advisory firm, which focuses on the private placement of securities and on the planning and structuring of transactions, including mergers, acquisitions, restructurings and other significant corporate and finance activities, which may result in securities offerings. #### *Basis of Presentation* The financial statement has been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP"). #### *Use of Estimates* The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company's management to make estimates and assumptions that affect the amounts disclosed in the financial statement. Actual results could differ from those estimates. #### *Fees Receivable* Fees receivable are carried at the amounts billed to customers, net of an allowance for credit losses, which is an estimate for credit losses based on a review of all outstanding amounts. There were no fees receivable as of January 1, 2024 and there were no fees receivable as of December 31, 2024. #### *Allowance for Credit Losses* The Company applies Accounting Standards Codification ("ASC") Topic 326, *Financial Instruments – Credit Losses* ("ASC 326") impairment model for certain financial assets measured at amortized cost by requiring a current expected credit loss ("CECL") methodology to estimate expected credit losses over the entire life of the financial asset, recorded at inception or purchase. Under the accounting update, the Company has the ability to determine there are no expected credit losses in certain circumstances. The allowance for credit losses is based on the Company's expectation of the collectability of financial instruments carried at amortized cost, including fees receivable utilizing the CECL framework. The Company considers factors such as historical experience, credit quality, age of balances and current and future economic conditions that may affect the Company's expectation of the collectability in determining the allowance for credit losses. The Company's expectation is that the credit risk associated with fees receivables is not significant until they are 90 days past due on the contractual arrangement and expectation of collection in accordance with industry standards. Management does not believe that an allowance is required as of December 31, 2024. {7}------------------------------------------------ ### **NOTES TO FINANCIAL STATEMENT** ### **DECEMBER 31, 2024** ### **1. Nature of business and summary of significant accounting policies (continued)** #### *Revenue Recognition* The Company recognizes revenue in accordance with Financial Accounting Standards Board ("FASB") ASC Topic 606, *Revenue from Contracts with Customers* ("ASC Topic 606"), to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance requires an entity to follow a five step model to (a) identify the contract(s) with a 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 entity satisfies a performance obligation. The Company earns investment banking revenue primarily from fees associated with providing strategic advisory and capital raising services to private and public companies in multiple industries including food and beverage, consumer products, chemicals, technology, media, education, business services, basic industries and diversified manufacturing. The Company's strategic advisory revenues include success fees earned in connection with advising companies, principally in mergers, acquisitions and restructuring transactions. The Company also earns fees for related advisory work such as providing fairness opinions. The Company records strategic advisory revenues at the point in time, gross of related expenses, when the services for the transactions are completed (the closing date of the transaction) under the terms of each assignment or engagement. The revenue is determined based on the terms in each engagement letter and is recognized after the performance obligations noted in the engagement letter have been satisfied or when the contract is canceled. Revenue for private placements and capital raising transactions is generally recognized when the underlying transaction is completed (the closing date of the transaction) under the terms of each assignment or engagement. The revenue is determined based on the terms in each engagement letter and is recognized after the performance obligations noted in the engagement letter have been satisfied or when the contract is canceled. Revenues are payable to the Company by their customers upon receipt of the Company's invoice by the customer which is when the performance obligations under each engagement are simultaneously provided and completed by the Company and consumed by the customer (the closing date of the transaction). The Company had no contract assets or contract liabilities reported at January 1, 2024 and December 31, 2024. ### *Significant Judgement* Revenue from contracts with customers includes fees from investment banking. 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. {8}------------------------------------------------ ## **NOTES TO FINANCIAL STATEMENT** ## **DECEMBER 31, 2024** ### **1. Nature of business and summary of significant accounting policies (continued)** ### *Income Taxes* The Company is a single member limited liability company and, accordingly, no income taxes are incurred by the Company as all earnings and losses flow directly to the Parent. However, the Company is subject to New York City Unincorporated Business Tax and records a provision for unincorporated business taxes and reimburses the Parent for taxes incurred and attributable to the Company's income, which is reported in the Parent's tax returns. At December 31, 2024, management has determined that the Company had no uncertain tax positions that would require financial statement recognition. This determination will always be subject to ongoing reevaluation as facts and circumstances may require. The Company did not recognize any provision for income taxes since the Company had a net operating loss for the year ended December 31, 2024. As of December 31, 2024, the Company did not recognize a deferred tax asset attributable to the Company's net operating loss for the year ended December 31, 2024 since the Company's NYC Unincorporated Business Tax benefit was not material as a result of the Company's insignificant business allocation percentage for the year ended December 31, 2024. ## *Segment Reporting* In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, Improvements to Reportable Segment Disclosures ("ASU 2023-07"), which requires incremental disclosures about reportable segments but does not change the definition of a segment or the guidance for determining reportable segments. The new guidance requires disclosure of significant segment expenses that are (1) regularly provided to (or easily computed from information regularly provided to) the chief operating decision maker ("CODM") and (2) included in the reported measure of segment profit or loss. The new standard also requires companies to disclose the title and position of the individual (or the name of the committee) identified as the CODM, allows companies to disclose multiple measures of segment profit or loss if those measures are used to assess performance and allocate resources, and is applicable to companies with a single reportable segment. The requirements are effective for annual reporting periods beginning on January 1, 2024, and are required to be applied retrospectively. The Company has adopted the additional disclosure requirements under ASU 2023-07. The additional requirements did not have a material impact on the Company's financial statement. ## **2. Liquidity** The Company and the Company's Parent do not currently have enough cash to satisfy the obligations of the Company. The Company also incurred a net loss for the year ended December 31, 2024, has negative cash flows from operations and does not subsequently have engagements that have been signed and transactions that have been completed that are sufficient to satisfy the obligations of the Company. To alleviate doubt of the Company's ability to continue as a going concern, the members of the Parent will provide financial support, on an as needed basis, to the Company and the Parent, sufficient for the Company and the Parent to satisfy their obligations. The members of the Parent have the financial wherewithal to support the Company and the Parent. {9}------------------------------------------------ ## **NOTES TO FINANCIAL STATEMENT** ## **DECEMBER 31, 2024** ### **3. Concentration of credit risk** The Company maintained its cash balances with one financial institution during the year ended December 31, 2024 which was insured by the Federal Deposit Insurance Corporation ("FDIC"). The Company's account balances may, at times, exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not subject to any significant credit risk on cash. ### **4. Related party transactions** ### *Service Agreement and Due from Parent* Pursuant to a service agreement, the Company's Parent provides various services and other operating assistance to the Company. These include professional services, physical premises, utilities, the use of office equipment, travel, insurance, subscriptions, taxes, personnel and other general and administrative services. A total of \$22,472 was paid by the Company to the Parent during 2024 which included \$1,798 paid in January 2024 related to 2023 expenses. As of December 31, 2024, approximately \$2,000 is classified as Due from Parent in the accompanying Statement of Financial Condition. ## **5. Segment Reporting** The Company is engaged in a single line of business as a securities broker-dealer and provides mergers and acquisitions, private placement and capital raising advisory services as an agent. The Company has identified its Managing Director as the chief operating decision maker ("CODM"), who uses net income to evaluate the results of the business, predominantly in the forecasting process, to manage the Company. Additionally, the CODM uses excess net capital (see Note 6), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to reinvest profits or pay distributions. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the Company as a whole. The accounting policies used to measure the profit and loss of the segment are the same as those described in the summary of significant accounting policies. The Company's segment revenues and expenses are in line with what is in the Company's statement of operations and includes all significant categories that are provided to the CODM for review. Also, the segment assets and liabilities are the same as those reported in the Company's statement of financial condition. ## **6. Net capital requirement** The Company is a member of the Financial Industry Regulatory Authority and is subject to the Securities and Exchange Commission Uniform Net Capital Rule 15c3-1. This Rule requires the maintenance of minimum net capital and that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1 and that equity capital may not be withdrawn if the resulting net capital ratio would exceed 10 to 1. At December 31, 2024, the Company's net capital was approximately \$12,000, which was approximately \$7,000 in excess of its minimum requirement of approximately \$5,000. ## **7. Exemption from Rule 15c3-3** The Company is exempt from the provisions of Rule 15c3-3 under the Securities and Exchange Act of 1934. The Company does not hold customers cash or securities and, therefore, has no obligations under SEC Rule 15c3-3 under the Securities Exchange Act of 1934. {10}------------------------------------------------ ## **NOTES TO FINANCIAL STATEMENT** ## **DECEMBER 31, 2024** ### **8. Subsequent events** The Company has evaluated subsequent events through February 24, 2025, the date that the accompanying financial statement was issued. There were no significant subsequent events which would require recognition or disclosure in the accompanying financial statement. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.