# AMA SECURITIES LLC X-17A-5 (2022-04-04) — Broker-dealer annual report - Company: AMA SECURITIES LLC - Form: X-17A-5 - Filed: 2022-04-04 - Period: 2021-12-31 - Accession: 0001069954-22-000003 - CIK: 1069954 - File #: 8-51263 - Type: Broker-dealer - Material weakness: No - Auditor: Reid CPAs, LLP - Auditor location: Woodbury, NJ - Contact: Joseph Sipkin - Phone: 917-579-9152 - Email: jsipkin@lernersipkin.com - Website: lernersipkin.com - Signed by: Michael Dockman (Managing Director) Original filing: https://www.sec.gov/Archives/edgar/data/1069954/000106995422000003/ama21s.pdf --- {0}------------------------------------------------ **AMA SECURITIES,** INC. STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2020 {1}------------------------------------------------ | - | | UNITED ST A TES
SECURITIES AND EXCHANGE coMMISStON
Washington, D.C. 20549 | | OMB APPROVAL
OMB Number: 3235-0123
Expires: Oct. 31, 2023
Estimated average burden
hours per response: 12 | | | |---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------|------|-----------------------------------------------------------------------------------------------------------------------|--|--| | | ANNUAL | | | -
SEC Fil£ NUM£R _ | | | | | | REPORTS | | -
51263
8- | | | | | | FORM X-17A-5 | | | | | | | | PART III | | | | | | | FACING PAGE
Information Required Pursuant to Rules 17a-S, 17a-l2, and 18a-7 under the Securities Exchange Act of 1934
01/01/21
12/31/21
----=-:-:::-::----
FILING FOR THE PERIOD BEGTNNING
AND ENDING | | | | | | | | MMfDDNY
MMIDDIYY | | | | | | | | A. REGISTRANT IDENTIFlCA TION | | | | | | | | NAME OF FIRM: AMA SECURITIES LLC | | | | | | | | O Check here if respondent is also an OTC derivatives dealer
ADDRESS OF PRINCfP AL PLACE OF BUSINESS: (Do not use a P.O. box no.)
484 PACIFICA STREET, 3RD FLOOR | | | | | | | | (No. and Street) | | | | | | | | STAMFORD | CT | | 06902 | | | | | (City) | (State) | | (Zip Code) | | | | | PERSON TO CONTACT WITH REGARD TO THIS FrLING | | | | | | | | JOSEPH SIPKIN | (917) 579-9152 | | JSIPKIN@LERNERSIPKIN.COM | | | | | (Name) | (Arca Code - Telephone Number) | | (Email Address) | | | | | B. ACCOUNT ANT IDENTIFICATION | | | | | | | | INDEPENDENT PUBLIC ACCOUNT ANT whose reports are contained in chis filing*
REID CPAS | | | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | | | 7600 JERICHO TURNPIKE | WOODBURY | | NY
11797 | | | | | (Address)
7/2/2013 | (City) | 5861 | (State)
(Zip Code) | | | | | (Date of Registration wi1h PCAOB)(if applicable) | | | (PCAOB Registration Number, ifapplicablc) | | | | | | | | | | | FOR OFFICIAL USE 01\"L Y \* Claims for exemption from the requirement that the annual reports be covered by the reporls of an independent public accountant must be supported by a statement of facts and circumslances relied on as the basis of the exemption. See 17 CFR 240. I 7a-5(c)( I )(ii), if applicable. ~ersons *who* are *to respond to the collection afinformation contained in this form are not required to respond unless the form* d isplays a currently 'Ill/id OMB control number. {2}------------------------------------------------ # AFFIRMATION I, MICHAEL DOCKMAN , swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to AMA SECURITIES LLC as of 12/31/21 , is true and correct. I funher swear (or affirm) that neither the company nor any 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. Signat ure MANAGING DIRECTOR Title ABIGAIL BOYER NOTARY PUBLIC HAROFORD COUNTY MARYLAND MY COMMISSION EXPIRES JULY 14, 2025 {3}------------------------------------------------ ## This filing\*\* contains (check all applicable boxes): - 00 (a) Statement of financial condition. - CE! (b) Notes to unconsolidated or consolidated statement of financial condition, as applicable. - 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 members' or sole proprietor's equity, as applicable. - D (f) Statement of changes in liabilities subordinated to claims of creditors. - D (g) Notes to unconsolidated or consolidated financial statements,, as applicable. - D (h) Computation of net capital under 17 CFR 240. l 5c3- l 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. l 5c3-3. - D (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240. I Sc3- 3 or Exhibit A to 17 CFR 240. l Sa-4, as applicable. - 0 (I) Computation for Determination of PAB Requirements under Exhibit A to§ 240.15c3-3. - D (m) Information relating to possession or control requirements for customers under 17 CFR 240. I 5c3-3. - D (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240. I 5c3- 3(p)(2) or 17 CFR 240. l 8a-4, as applicable. - D (o) ReconciJjations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.1 Sc3-1, 17 CFR 240. l Sa-1 , or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.1 5c3-3 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. - CE! (q) Oath or affirmation in accordance with 17 CFR 240. l 7a-5, 17 CFR 240.l 7a-12. or 17 CFR 240. l 8a-7, as applicable. - O (r) Compliance report in accordance with 17 CFR 240. l7a-5 or 17 CFR 240.1 Sa-7, as applicable. - D (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240. ISa-7, as applicable. - CE! (t) Jndependent public accountant's report based on an examination of the statement of financial condition. - D (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240. l 7a-5, 17 CFR 240.1 Sa-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. I 7a-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. I 7a-5 or 17 CFR 240. J Sa-7, as applicable. - D (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240. I 5c3-le or 17 CFR 240. I 7a-l 2, 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 filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240. l 8a-7(d)(2), as applicable.* {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Shareholders of AMA Securities LLC ### Opinion on t he Financial Statement We have audited the accompanying statement of financial condition of AMA Securities LLC as of December 31 , 2021, and the related notes (collectively referred to as the "financial statement"). In our opinion, the statement of financial condition presents fairly, in all material respects, the financial position of AMA Securities LLC as of December 31 , 2021 in conformity with accounting principles generally accepted in the United States of America. ### Basis for Opinion This financial statement is the responsibility of AMA Securities LLC's management. Our responsibility is to express an opinion on AMA Securities LLC'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 AMA Securities LLC 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 AMA Securities LLC's auditor since 2019. Woodbury, NY March 31 , 2022 # REID CPAs, LLP Woodbury I New York I Boca Raton 7600 Jericho Turnpike, Suite 400, Woodbury. NY 11797 P 516-802·0100 W: ReldLLP.com {5}------------------------------------------------ # **AMA SECURITIES, LLC** STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2021 | ASSETS | | |----------------------------------------|--------------| | Cash | \$
79,003 | | Other assets | 2,602 | | Total assets | \$
81,605 | | LIABILITIES AND MEMBER'S EQUITY | | | Liabilities: | | | Accounts payable and accrued expenses | \$
13,200 | | Total liabilities | 13,200 | | Member's Equity: | | | Total member's equity | 68,405 | | Total liabitlities and member's equity | \$
81,605 | {6}------------------------------------------------ # AMA SECURITIES, LLC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER31, 2020 ### Note 1 - Nature of Business AMA Securities, LLC ("the Company") is a broker/dealer registered with the Securities and Exchange Commission ('"SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA "). The Company is wholly owned by AMA CP Holdings LLC ("Holdings"). The Company provides investment advice and issues fairness opm1ons for companies in the transportation and energy industries. ### Note 2 - Summary of Significant Accounting Policies ### *a) Basis of Presentation* The financial statements are prepared in accordance with accounting principles generally accepted in the Unites States of America. #### *b) New Accounting Pronouncements* In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which amends the FASB's guidance on the impairment of financial instruments. The ASU adds to GAAP, an impairment model (known as the current expected credit loss ("CECL") model) that is based on expected losses rather than incurred losses. Under the new guidance, the Company recognizes as an allowance, its estimate of lifetime expected credit losses, which the F ASB believes will result in more timely recognition of such losses, if any. The ASU is also intended to reduce the complexity of GAAP by decreasing the number of credit impairment models that entities use to account for debt instruments. Further, the ASU makes targeted changes to the impairment model for availablefor-sale debt securities. The new CECL standard became effective on January 1, 2020, and the Company applied the modified retrospective method of adoption which resulted in no adjustment to member's capital as of the effective date. {7}------------------------------------------------ ## AMA SECURITIES, LLC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2020 ### Note2 - Summary of Significant Accounting Policies (continued) ### d) *Use of Estimates* The financial statements have been prepared in confonnity witlh accounting principles generally accepted in the United States of America ("GAAP") which 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 amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. ### *e) Income Taxes* The Company is a limited liability company and treated as a disregarded entity for federal and state income tax purposes. As such, it does not pay any taxes. The Company's income or loss is taken into consideration in the tax returns of the members of Holdings for federal and state income tax purposes. #### Note 3 - Revenue Fee income earned by the Company from two clients amounted to \$1,625,000 for the year-ended December 31, 2020. *Revenue consists of the following:* | Revenue Item Breakdown | Amount | Timing of Recognition | | |------------------------|-------------|-----------------------|--| | Debt Placement Fee | \$1,500,000 | When earned | | | Fairness Opinion | 125,000 | When earned | | ### Note 4- Related Party Transactions Pursuant to the terms of an agreement with Holdings, the Company shall pay \$2,000 per month to meet certain of its operating expenses including rent, telephone, and utilities. The Company paid \$24,000 to Holdings during 2020. #### Notes - Net Capital Requirement The Company is subject to the Securities and Exchange Commission's Net Capital Rule 15c3-l, which requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 1,500%. At December 31, 2020, the Company's net capital of \$161,930 was \$111,930 in excess of its required net capital of \$50,000. The ratio of aggregate indebtedness to net capital was 38.4%. {8}------------------------------------------------ # **AMA SECURITIES, LLC** NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2019 ### **Note 6- Compliance with Rule 15c3-3** The Company has no possession or control obligations under SEA Rule 15c3-3(b) or reserve deposit obligations under SEA Rule 15c3-3(e) because its business is limited to private placements of securities and investment advisory services. #### **Note** 7 - **Subsequent Events** The Company has performed an evaluation of events that have occurred subsequent to December 31, 2020 and through March 29, 2021, the date of the filing of this report. There have been no material subsequent events that occurred during such period that would require disclosure in this report or would be required to be recognized in the financial statements as of December 31, 2020. #### **Note 8** - **COVTD-19** A coronavirus (COVID-19) was first reported in China. In January 2020, the World Health Organization declared it a Public Health Emergency of International Concern. This contagious disease outbreak, which bas continued to spread to additional countries, and any related adverse public health developments, could adversely affect the Company's customers, service providers and suppliers as a result of quarantines, facility closures, and travel and logistics restrictions in connection with the outbreak. More broadly, the outbreak could affect workforces, economies and financial markets globally, potentially leading to an economic downturn. The ultimate impact of the COVTD-19 is uncertain. Management continues to monitor the outbreak, however, as of the date of these financial statements the potential impact of such on the Company's business and operations cannot be reasonably estimated. The U.S. enacted the CARES Act which is an economic stimulus package to assist eligible small businesses to cover certain operational costs due to the adverse impact of COVID-19. In addition, the CARES Act included temporary tax law changes to provide additional relief to U.S. businesses and individual taxpayers. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.