# U.S. INVESTORS, INC. X-17A-5 (2023-03-24) — Broker-dealer annual report - Company: U.S. INVESTORS, INC. - Form: X-17A-5 - Filed: 2023-03-24 - Period: 2022-12-31 - Accession: 0001069951-23-000001 - CIK: 1069951 - File #: 8-51260 - Type: Broker-dealer - Material weakness: No - Auditor: RW Group LLC - Auditor location: Kenneth Square, PA - Contact: Dixie Butler - Phone: 540-885-1011 - Email: 108@usadvisors.biz - Website: usadvisors.biz - Signed by: Dixie Butler (President) Original filing: https://www.sec.gov/Archives/edgar/data/1069951/000106995123000001/publicdocument2022.pdf --- {0}------------------------------------------------ ## **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** # **ANNUAL REPORTS FORM X-17A-5 PART** Ill | 0MB APPROVAL | |--------------------------| | 0MB Number: 3235-0123 | | Expires: Oct. 31, 2023 | | Estimated average burden | | hours per response: 12 | | SEC FILE NUMBER | 8-51 260 | Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | FACING PAGE | | | |---------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|-----------------------------------------|-------------------------------------------------| | FILING FOR THE PERIOD BEGINN ING O 1/01/2022 | | AND ENDING 12/31/2022 | | | | MM/DD/YY | | MM/DD/VY | | | A. REGISTRANT IDENTIFICATION | | | | NAME OFFIRM: U.S. Investors, Inc. | | | | | TYPE OF REGISTRANT (check all applicable boxes) :
0 Broker-dea ler
D Check here if respondent is also an OTC derivatives dealer | □ Security-based swap dealer | D Major security-based swap participant | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | 4601 N. Fairfax Dr., Suite 1200 | | | | | | (No. and Street) | | | | Arlington | VA22203 | | | | (City) | (State) | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | Dixie Butler | 540-885-1 011 | 108@usadvisors.biz | | | (Name) | (Area Code - Telephone Number) | (Email Add ress) | | | | B. ACCOUNTANT IDENTIFICATION | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
RW Group LLC | | | | | | (Name - if individual, state last, first, and middle name) | | | | 400 Old Forge Ln. | Kenneth Square | PA | 19348 | | (Address) | (City) | (State) | (Zi p Code) | | 4/23/2010 | 5020 | | | | r
te of Regi,tcat;oo with PCAOB)(if applicable) | | | I PCAO B Regis1'atioo N ,mbec, if applicable) I | | | 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-S(e}(l)(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 0MB control number.** {1}------------------------------------------------ ## **OATH OR AFFIRMATION** | I, Dixie Butler | swear (or affirm) that, to the best of my knowledge and belief, the | |--------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | financial report pertaining to the firm of U.S. Investors, Inc. | as of | | __________ _, 2~,
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n | | This filing** contains (check all applicable boxes): '''"'"'''' | | | ~ (a) Statement of financial condition. | | | ~ (b) Notes to consolidated statement of financial condition. | | | D | (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). | | | D
(d) Statement of cash flows. | | | D | (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. | - D (f) Statement of changes in liabilities subordinated to claims of creditors. - D (g) Notes to consolidated financial statements. - D (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - D (i) Computation of tangible net worth under 17 CFR 240.18a-2. - D U) 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 requ irements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exh ibit A to 17 CFR 240.18a-4, as applicable. - D (I) Computation for Determination of PAB Requ irements under Exhibit A to§ 240.15c3-3. - D (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-l, 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. - 0 (p) Summary of financi al 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. - 0 (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. - ~ (t) Independent public accountant's report based on an examination of the statement of finan cial condition. - D (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 publ ic 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. - D (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 appl icable. - D (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-le or 17 CFR 240.17a-12, as applicable. - D (y) Report describing any material inadequacies found to exist or found to have existed since t he date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). (z) Other: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_ - *\*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e}{3} or 17 CFR 240.18a-7{d}{2}, as* applicable. {2}------------------------------------------------ # U.S. INVESTORS, INC. # STATEMENT OF FINANCIAL CONDITION AND INDEPENDENT AUDITORS' REPORT DECEMBER 31, 2022 {3}------------------------------------------------ # U.S. INVESTORS, INC. STATEMENT OF FINANCIAL CONDITION AND INDEPENDENT AUDITORS' REPORT DECEMBER 31, 2022 ## CONTENTS | | PAGE | |----------------------------------|------| | INDEPE DENT AUDITORS' REPORT | 1 | | FINA
CIAL ST A TEMENTS | | | Statement of Financial Condition | 2 | | otes to Financial Statements | 3-4 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ) ## **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Board of Directors and Shareholders of U.S. Investors, Inc. #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of U.S. Investors, Inc. as of December 31, 2022, and the related notes (collectively referred to as the financial statement). In ou r opinion, the statement of financial condition presents fairly, in all material respects, the financial position of U.S. Investors, Inc. as of December 31, 2022 in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** This financial statement is the responsibility of U.S. Investors, lnc.'s management. Our responsibility is to express an opinion on U.S. Investors, lnc.'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 U.S. Investors, Inc. in accordance with the U.S. fede ral securities law 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 req uire that we plan and perform the audit t o obtain reasonable assurance about whether the financial statement is free of material misstatement, whether due to error or fraud. Our audit included performing proced ures 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 fi nancial statements. Our audit also included eva luating 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 U.S. Investors, lnc.' s auditor since 2015. Kennett Square, Pennsylvania March 23, 2023 400 Old Forge Lane Sui e 401 e ne Square, PA 19348-1914 Phone:610-713-8208 Fax: 610-807-0370 www.rwgroupllc.com {5}------------------------------------------------ # U.S. INVESTORS, INC. STATEMENT OF FINANCIAL CONDITION AS OF DECEMBER 31, 2022 | ASSETS | | |--------------------------------------------------------------------------------------------------------------------------------|--------------------------------------| | Cash and cash equivalents
Accounts Receivable
Deposits | 21,964
\$
5,700
72 | | Total Assets | 27,736
\$ | | LIABILITIES AND STOCKHOLDERS' EQUITY | | | LIABILITIES
Accounts payable and other accrued liabilities
Accrued Audit Expense
Total Liabilities | \$
5,800
6,260
\$
12,060 | | STOCKHOLDERS' EQUITY
Common Stock (no par value, 1500 authorized
100 shares issued and outstanding)
Retained Earnings | \$
20,000
(4,324) | | Total Stockholders' Equity | \$
15,676 | | Total Liabilities and Stockholders' Equity | 27,736
\$ | See accompanying otes to Financial Statements {6}------------------------------------------------ ## **U.S. INVESTORS, INC. NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022** ## **OTE 1** - **ORGANIZATION** U.S. Investors, Inc. (Company) is a securities broker-dealer registered with the Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA). #### **OTE 2** - **SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** The accounting and reporting policies of the Company are in accordance with accounting principles generally accepted in the United States of America and conform to general practices within the brokerage industry. **Revenue Recognition** - Securities transactions are recorded on a trade date basis. Commissions are recorded as received. Use of **Estimates** - The preparation of financial statements in conformity with general accepted accounting principles requires management to make estimates and assumptions. This will affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reported period. Actual results could differ from these estimates. **Cash and Cash Equivalents** - Cash and cash equivalents consisted of cash on deposit with established federal ly insured financial institutions. For purposes of the statement of cash flows, the Company considers all highly liquid instruments with original maturities of three months or less to be cash equivalents. **Accounts Receivable** - The opening balance of receivables from trail commissions was \$5,700 on December 3 I, 2021. ## **OTE 3** - **INCOME TAXES** The Company has elected to file income tax returns as a subchapter S Corporation as defined in the Internal Revenue Code. Generally, an S Corporation is not subject to income taxes but rather, items of income, loss, deduction and credit pass through to stockholders in determining their individual income tax liability. The Company complies with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740, lncome Taxes which require an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on the enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce the deferred income tax assets to the amount expected to be realized. ASC 740 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. ASC 740 requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Company's tax returns to detennine whether the tax positions are "morelikely-than-not" of being sustained by the applicable tax authority. Tax positions not deemed to meet the morelikely-than-not threshold would be recorded as tax benefit or expense in the current year. In general, the prior three year's tax returns filed with various taxing agencies are open to examination. {7}------------------------------------------------ # **U.S. INVESTORS, INC. NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2022** ## **ET CAPITAL REQUIREMENTS** As a broker-dealer, the Company is subject to the net capital rule adopted and administered by the Financial Industry Regulatory Authority and the Securities and Exchange Commission. This ru le is designed to require a broker-dealer to maintain a minimum amount of net capital, as defined, and a minimum ratio of aggregate indebtedness, as defined, to net capital. Under this rule, the ratio of aggregate indebtedness to net capital cannot exceed 15 to 1. The Company's aggregate indebtedness to net capital as of December 31 , 2022, was .77 to 1 and the Company had net capital of\$ I 5,604 which was \$10,604 in excess of its required net capital of \$5,000. ## **OTE 5** - **OTHER REGULATORY REQUIREMENTS** The firm limits its business activities to the purchase, sale and redemption of shares of registered investment companies and variable annuities. Securities of customers were not accepted for safekeeping. The company does not accept customer's funds and any funds sent to the company, which consisted solely of checks payable to registered investment companies or variable annuities, were promptly remitted. The company is therefore exempt from the customer reserve requirements of SEC rule 15c3-3 under section (k)( I). ## **NOTE 6** - **RELATED PARTY TRANSACTIONS** The Company shares office space with Butler Financial, Inc. (BFI) and other businesses also owned by Dixie Butler who is also the sole owner of the Company. BFI provides almost all of the office expenses and services for the Company, including rent, telephone, equipment and supplies. The Company does not reimburse BFI because management believes its proportional share of the expenses is not material. The Company has an agreement with its sole registered representative, who is also the sole shareholder of BFI, whereby the Company rece ives an annual fee from the representative. The amount is determined annually. For the year ended December 31 , 2022 the fee received was \$10,000 and is included in other income. At December 31, 2022 there were no amounts due to or from the Company and its related parties. ## **OTE** 7 - **SUBSEQUENT EVENTS** Management has evaluated subsequent events through March 23 , 2023 , the date on which the financial statements were available to be issued. No events have occurred since the balance sheet date that would have material impact on the financial statements. ## **OTE 8-STATEMENT RELATING TO REQUIREMENT OF RULE 17a-5(d)(4)** There were no differences existing between the computations of net capital under rule 15c3- l in this report and such computations in the respondent's most recent unaudited filing. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.