# LAMPOST CAPITAL, L.C. X-17A-5 (2024-03-28) — Broker-dealer annual report - Company: LAMPOST CAPITAL, L.C. - Form: X-17A-5 - Filed: 2024-03-28 - Period: 2023-12-31 - Accession: 0001043421-24-000001 - CIK: 1043421 - File #: 8-50382 - Type: Broker-dealer - Material weakness: No - Auditor: Mercurius & Associates LLP - Auditor location: New Delhi, K7 - Contact: Michael S. Meade - Phone: 561-883-0454 - Email: info@masllp.com - Website: masllp.com - Signed by: Michael S. Meade (Chief Executive Officer) Original filing: https://www.sec.gov/Archives/edgar/data/1043421/000104342124000001/lamp_2023_public_fs_sec3.pdf --- {0}------------------------------------------------ | PUBLIC | UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 | 0MB APPROVAL
0MB Number: 3235-0123
EKplres: Nov. 30, 2026
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hours per response: 12 | | |--------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------|--| | | ANNUAL REPORTS | SEC FILE NUMBER | | | | FORM X-17A-S | 8-50382 | | | | PART Ill | | | | : _ _
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• | FACING PAGE
f9rmation Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | I | | | NG FOR THE PERIOD BEGINNING | 0 1/01 /23
AND ENDING
MM/DD/VY | 12/31 /23 ;
MM/DD/VY | | | | | | | | | A. REGISTRANT IDENTIFICATION | | | | | NAME OF FIRM: LAM POST CAPITAL, L.C. | | | | TYPE OF REGISTRANT (check all applicable boxes):
~Broker-dealer | D Security-based swap dealer
D Check here if respondent is also an OTC derivatives dealer. | D Major security-based swap participant | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | 1900 GLADES ROAD, SUITE 205 | | | | | | (No. and Street) | | | | BOCA RATON | FLORIDA | 33431 | | | (City) | (State) | (Zip Code) | | | \$-f.~~"-- ,-:',; ~ .,:,.-~ ~ ·:.t-.; -r i : e - •
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! | .:~~TACTWITH REGARD TO THIS FILING | | | | :;~~_JJ]J~j¢HAEl MEADE
________ | _______________________
561-883-0454 | MSMEADE@THELAMPOST'.COM | | | ,,;. ,; · :. · .;:.; · ;.,_
{Name) | _
(Area Code - Telephone Number) | _
(Email Address)
• | | | | 8. ACCOUNTANT IDENTIFICATION | | | | | | | | | | INDEPENDENT :PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | | Mercurius & Associates LLP | | | | | A-94/8, Wazirpur Industrial Area, Main Ring Road | (Name - if individual, state last, first, and middle name)
New Del h j | INDIA
110052 | | | (Address)
2/10/2009 | (City) | (State)
(Zip Code)
3223 | | | 'l'" | | I | | | | of ,. • .,.,~, with PCAOB)(;f appUcable) FOR OFFICIAL USE ONLY | IPCAOB Reg;st,aUoo N,mbec, ;1 ap~;Qblel | | | | | | | | A49•.J.7N(~).(l)(II), If applicable. | • Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public
• ,11ccountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17
1'~s-who are to respond to the collection of Information contained In this form are not required to respond unless the form | | | • I I {1}------------------------------------------------ | | | ~ | |------------------------|-------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | | Signatur~ | | | | | | | | | | | Public~
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Notary | | | | This filing•• contains (check all applicable boxes): | | | | ii (a) Statement of financial condition. | | | | ii (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 | | •
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rehensive income (as defined in § 210.1-02 of Regulation S-X). | | | ,-:.:.:.~ --: | · :\$i::a\ement of-cash flows. | | | | ~~~- - :. • ' ~ ~ement,of .changes in stockholders' or partners' or sole proprietor's equity. | | | | ::;: ;~i{f~~q,.:~~~~~ of changes in liabilities subordinated to claims of creditors. | | | -~
i: -:.c~;-· :-· | ),Motes to.consolidated financial statements. | | | ~ .-) , • - | 0.}{tlj Co~
putation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.lBa-1, as applicable. | | | 0 | (i) Computation of tangible net worth under 17 CFR 240.lBa-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.lBa-4, as applicable. | | | 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 | 240.15c3-3(p)(2) or 17 CFR 240.lBa-4, as applicable. | (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR | | D | exist. | (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.lBa-l, or 17 CFR 240.lBa-2, as applicable, and the reserve requirements under 17
CFR 240.15c3-3 or 17 CFR 240.lBa-4, as applicable, if material differences exist, or a statement that no material differences | | D | (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. | | | | ii (q) Oath or affirmation in accordance with 17 | CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.lBa-7, as applicable. | | D | (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.lBa-7, as applicable. | | | | □ (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.lBa-7, as applicable. | | | | ~o1fal-- . ,. iji,i~iju,gj ~endent public accountant's report based on an examination of the statement offinancial condition. | • | | /!{;-~ ~
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40,!7a-5, 17 CF.R 240.lBa-7, or 17 CFR 240.17a-12, as applicable. | ,tpe_12~~r,it_p~pl)c accountant's report based on an examination of the financial report or financial statements under 17 if,~.,,.,~,._
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,fff(w,p}pendj!nt p~blic accountant's report based on an examination of certain statements in the compliance report under | | | ' : ~ }-: ) .; J •m,
; 40.17a-5 or 17 CFR 240.lBa-7, as applicable. | | | ,: •t;J l | CFR 240.lBa-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
• | | D | as applicable. | (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-le or 17 CFR 240.17a-12, | | D | --
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a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). | (y) Report describing any material inadequacies found to exist or found to have existed since the date of the previous audit, or
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------------- | applicable. {2}------------------------------------------------ #### LAMPOST CAPITAL, L.C. FINANCIAL STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2023 {3}------------------------------------------------ ## **LAMPOST CAPITAL, L.CL FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2023** ## **TABLE OF CONTENTS** | Report of Independent Registered Public Accounting Firm | | | |--------------------------------------------------------------------------------------------------------------------------------------------------------|-----|--| | Financial Statements | | | | Statement of Financial Condition | 2 | | | Statement of Income | 3 | | | Statement of Changes in Members' Equity | 4 | | | Statement of Cash Flows | 5 | | | Notes to Financial Statements | 6-9 | | | Supplemental Information | | | | Schedule I-
Computation and Reconciliation of Net Capital Under Rule 15c3-l
of the Securities and Exchange Commission | | | | Schedule II -
Computation of Aggregate Indebtedness Under Rule 17a-5 of
the Securities and Exchange Commission | 11 | | | Schedule III -
Information Relating to the Reserve Computation, Possession or
Control Requriements Under SEC Rule 15c3-3 as of December 31, 2021 | 12 | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) **MERCURIUS** & **ASSOCIATES LLP** Formerly known as AJSH & Co LLP > **+91 11 4559 6689 info@masllp.com** B **www.masllp.com** #### **Report of Independent Registered Public Accounting Firm** To the Board of Directors and Shareholders of Lampost Capital, LC. #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of the Lam post Capital, LC. (the "Company") as of December 31, 2023, and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement present fairly, in all material respect, the financial position of the Company as of December 31, 2023 in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** The financial statement Is the responsibility of the Company's management. Our responsibility is to express an opinion on this 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 from 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 statement. 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 statement. We believe that our audit of the financial statement provide a reasonable basis for our opinion. /n,Vl v(Ar)--J' (I) 1'> 4 *fl/-41 0* ~ ~ CJ *Uf* **Mercurius** & **Associates LLP** (Formerly known as AJSH & Co LLP) We have served as the Company's Auditor since 2022. New Delhi, **India** Date: *Mo.r~* J.1 ~o~~ *I* ![](_page_4_Picture_16.jpeg) LLPIN: AAG-1471 A-94/8, Wazirpur Industrial Area New Delhi-110052, India {5}------------------------------------------------ # **LAMPOST CAPITAL, L.C. STATEMENT OF FINANCIAL CONDITION FOR THE YEAR ENDED DECEMBER 31, 2023** #### **Assets** | Cash and cash equivalents | \$ 1,158,000 | |------------------------------------------------------------------|--------------| | Deposit with clearing broker | 120,440 | | Accounts receivable | 899,930 | | Lease ROU asset | 25,595 | | Prepaid expenses and other current assets | 24,478 | | Equipment & Leasehold improvements (less accum depr of \$26,582) | 7,762 | | | | | | \$ 2,236,204 | | | | | Liabilities and members' equity | | | | | | Liabilities: | | | Accounts payable | 35,173
\$ | | Lease liability | 25,595 | | Accrued expenses and other liabilities | 493,994 | | Total liabilities | 554,762 | | | | | Members' equity | 1,681,442 | | | | | | \$ 2,236,204 | *The accompanying notes are an integral part of these financial statements.* {6}------------------------------------------------ # **LAMP OST CAPITAL, L.C. NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2023** #### **1. ORGANIZATION** Lampost Capital, L.C. (the "Company") was organized as a limited liability company on July 16, 1997, in the state of Florida. The Company is a registered broker-dealer with the Securities and Exchange Commission and a member of the Financial Industry Regulatory Authority, Inc. ("FINRA"). The Company operates an office in Boca Raton, Florida. The Company's sources of revenue are derived from unsolicited brokerage transactions, exchange rebates, payment for order-flow and fees for other services rendered. The Company is an introducing broker-dealer and clears its trades through ICBC Financial Securities, LLC and RQD Clearing, LLC (the "Clearing Broker"). Although the Company's Clearing Broker maintains the accounts of all customers, the Company remains contingently liable for customers who do not fulfill their obligations. ## **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** *Cash and Cash equivalents* - Cash equivalents are short-term, liquid investments with an original maturity of three months or less and are carried at cost, which approximates market value. *Deposit from clearing broker* - The Company is required to maintain a clearing deposit of \$150,000 with the Company's clearing agent *Due from clearing broker and order flow* - Due from clearing broker represents commissions and other monies due the Company from the Clearing Broker and some miscellaneous receivables. Due from order flow represents amounts due from order flow activities from various venues. An allowance for doubtful accounts is not recorded since the Clearing Broker adjusts accounts monthly to actual results. *Fair values of financial instl'.uments* -All of the Company's financial instruments are carried at market value or at amounts, which, because of their short-term nature, approximate current fair value. *Significant Judgments-Revenue* includes brokerage commissions, exchange rebates, and payment for order flow. The recognition and measurement of revenue is based on the assessment of individual items. 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; whether revenue should be presented gross or net of certain costs; and whether constrains on variable consideration should be applied due to uncertain future events. *Securities transactions-In* the ordinary course of business, the Company may purchase securities from other dealers for its own account. The securities may then be sold to other dealers. The company believes that the performance obligation is satisfied on the trade date because that is when the underlying financial instrument or purchaser is identified to the company, the pricing is agreed upon and the risk and rewards of ownership have been transferred. *Commissions* - The Company charges commissions for transactions initiated on a retail, institutional and wholesale basis. Each time a buy or sell transaction is completed, the Company may charge a commission. Commissions and related clearing expenses are recorded on the trade date (the date the Company fills the trade order by finding and contracting with a counterparty and confirms the trade with the customer). The Company believes that the performance obligation is satisfied on the trade date because that is when the {7}------------------------------------------------ # **LAMPOST CAPITAL, L.C. NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2023** underlying financial instrument or purchaser is identified, the pricing is agreed upon and the risks and rewards of o\\-11ership have been transferred to/from the customer. *Advisory fees* - The Company may provide advisory services. Revenue for advisory arrangements is generally recognized over the time in which the performance obligations are provided by the Company and consumed by the customer. *Proceeds and payments from order flow activity* - The Company earns transaction fees for order flow activity from its customers. The Company believes that the performance obligation is satisfied on the trade date because that is when the underlying financial instrument or purchaser is identified, the pricing is agreed upon and the risks and rewards of ownership have been transferred to/from the customer. *Leasehold improveme11ts* - Leasehold improvements are amortized over the shorter of the useful life of the related asset or the lease term. Expenditures for repairs and maintenance are charged to expense as incurred. *Leases* - The Company recognizes and measures its leases in accordance with F ASB ASC 842, *Leases.* The Company determines if an arrangement *is* a lease, or contains a lease, at inception of a contract. The Company recognizes a lease liability and a right of use (ROU) asset at commencement date of the lease. The ' lease liability is initially and subsequently recognized based on the present value of its future lease payments. The Company has a lessee for office space (see Note 5). *Income taxes* - The Company, with the consent of its members, elected to be taxed as an S Corporation under the Internal Revenue Code. All taxable income or loss flows through to the members. Accordingly, no income tax expense or liability is recorded in the accompanying financial statements. The Company has adopted the provisions ofFASB Accounting Standards Codification 740-10, Accounting for Uncertainty in Income Taxes. Under ASC 7 40-10, the Company is required to evaluate each of its tax positions to determine if they are more likely than not to be sustained if the taxing authority examines the respective position. A tax position includes an entity's status, including its status as a pass-through entity, and the decision not to file a tax return. The Company has evaluated each of its tax positions and has determined that no provision or liability for income taxes is necessary. The members and the Company are generally not subject to U.S. Federal and State income tax examinations related to the Company's activities for tax years before 2020. *Use of estimates* - The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. #### **3. EQUIPMENT** & **LEASEHOLD IMPROVEMENTS** Equipment and leasehold in1provements total \$34,344 as of December 31, 2023. Depreciation expense related to the equipment and leasehold improvements was \$4,601 for the year ended December 31, 2023. {8}------------------------------------------------ ## **LAMPOST CAPITAL, L.C. NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2023** #### **4. RELATED PARTY TRANSACTIONS** An affiliated entity executes transactions on behalf of its clients through the Company and the Clearing Broker and the Company receives commissions on the trades and other income derived from the balances in the accounts of those clients, which amounted to \$1000 for the year ended December 31, 2023, and is included in commissions on the Statement of Income. An affiliated entity bills the Company for expenses incurred. The total billed to the Company for the year ended December 31, 2023, was \$65,479. The Company had a balance due to the affiliated entity of \$4,856 as of December 31, 2023. For the year ended December 31, 2023, the Company paid salaries of \$592,000 and bonuses of \$796,177 to certain members and employees. As of December 31, 2023, the Company owed \$55,252 for the bonuses declared. ## **5. LEASES** & **CONTRACTUAL COMMITMENTS** The Company has obligations as a lessee for office space with initial noncancelable terms in excess of three years. The Company classified this lease as an operating lease. Payments due under the lease includes fixed payments. Amounts reported in the balance sheet as of December 31, 2023, were as follows: Operating lease ROU asset - \$25,595 Operating lease liabilities - \$25,595 The Company's office lease expires on October 31, 2025. Rent expense, including parking fees and sales tax for the year ended December 31, 2023, was \$24,821. The Company's minimum annual rental obligations are as follows: calendar year ended December 31, 2024 - \$14,838; and year ended December 31, 2025 - \$12,679. ## **6. FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK AND CONCENTRATION OF CREDIT RISK** The Company's customers' securities transactions are introduced on a fully disclosed basis to its Clearing Broker. The Clearing Broker is responsible for collection of and payment of funds and receipt and delivery of securities for customer transactions. Off-balance sheet risk exists with respect to these transactions due to the possibility that customers may be unable to fulfill their contractual commitments and the Clearing Broker may charge any losses to the Company. The Company seeks to minimize the risk through procedures designed to monitor creditworthiness of the customers and proper execution of transactions by the Clearing Broker. The Company maintains cash at three national banks. The cash is maintained in FDIC checking accounts and insured money market deposit accounts. At times the cash balances may exceed FDIC insured limits of \$250,000. The Company believes that there are no significant risks with regards to such deposits. The Company maintains accounts at its Clearing Broker. The accounts contain cash and securities. Balances are insured up to \$500,000 (with a limit of\$250,000 for cash not maintained in money market funds) by the Securities Investor Protection Corporation ("SIPC"). {9}------------------------------------------------ # **LAMPOST CAPITAL, L.C. NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2023** #### **7. SIGNIFICANT CUSTOMERS** Revenue earned by the Company from its five largest sources of revenue totaled \$8,322,730 for the year ended December 31, 2023, representing 77% of the Company's total revenue for that year. ## **8. NET CAPITAL REQUIREMENTS** The Company's minimum net capital requirement under Rule l 5c3-l of the Securities and Exchange Commission is the greater of 6 2/3% of aggregate indebtedness (\$33,621 at December 31, 2023) or \$100,000, whichever is greater. The Company operates pursuant to the (k)(2)(ii) exemption under SEC Rule 15c3-3 and does not hold customer funds or securities. The Company is, therefore, exempt from the reserve formula calculations and possession or control computations. At December 31, 2023, the net capital, as computed, was \$809,866. Consequently, the Company had excess net capital of \$709,866. At December 31, 2023 the percentage of aggregate indebtedness to net capital was 62.27% versus an allowable percentage of 1500%. ## 9. **RECONCILIATIONOFNETCAPITAL** The net capital computation shown on the Company's December 31, 2023, FOCUS IIA, and the computation shown on the Computation of Net Capital pursuant to SEC Rule 15c3-1 agree. #### 10. **SUBSEQUENT EVENTS** In preparing these financial statements, the management of the Company has evaluated events and transactions for potential recognition or disclosure through the date signed on the auditor's report, the date the financial statements were available to be issued. The Company has determined that there were no events that need disclosure. ## 11. **COMMITMENTS AND CONTINGENCIES** The Company is unaware of any adversary proceedings to which the Company may be liable. There are no other commitments and contingencies except as noted in Note 5. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.