# MODERN CAPITAL SECURITIES INC. X-17A-5 (2026-04-09) — Broker-dealer annual report - Company: MODERN CAPITAL SECURITIES INC. - Form: X-17A-5 - Filed: 2026-04-09 - Period: 2024-01-10 - Accession: 0001282492-26-000004 - CIK: 1282492 - File #: 8-66403 - Type: Broker-dealer - Material weakness: No - Auditor: LMHS, P.C. - Auditor location: Norwell, MA - Contact: Cassandra Woodward - Phone: 800-440-0442 - Signed by: Cassandra Woodward (cfo) Original filing: https://www.sec.gov/Archives/edgar/data/1282492/000128249226000004/0001282492-26-000004-index.htm --- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ANNUAL REPORTS FORM X-17A-5 PART III SEC FILE NUMBER: 8-66403 FILING FOR THE PERIOD BEGINNING 01/01/2024 AND ENDING 12/31/2024 NAME OF FIRM: MODERN CAPITAL SECURITIES INC. ADDRESS: 7780 Brier Creek Parkway #325, RALEIGH, NC 27617 INDEPENDENT PUBLIC ACCOUNTANT: LMHS, P.C. 80 Washington Street Norwell, MA 02061 -------------------------------------------------- REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member Modern Capital Securities Inc. Raleigh, North Carolina We have audited the accompanying statement of financial condition of Modern Capital Securities Inc., as of December 31, 2024, and the related statements of operations, changes in member's equity and cash flows for the year then ended, and the related notes. In our opinion, the financial statements present fairly, in all material respects, the financial position of Modern Capital Securities Inc. as of December 31, 2024, in conformity with accounting principles generally accepted in the United States of America. LMHS, P.C. Norwell, Massachusetts May 30, 2025 -------------------------------------------------- STATEMENT OF FINANCIAL CONDITION ASSETS Cash 6,324 Deposits with clearing organizations 50,000 Accounts receivable 127,235 Receivable from affiliates 349,745 TOTAL ASSETS 533,304 LIABILITIES Commissions payable 59,257 Accounts payable 10,462 Payable to affiliates 64,619 TOTAL LIABILITIES 134,338 Member's Equity 398,966 TOTAL LIABILITIES AND EQUITY 533,304 -------------------------------------------------- STATEMENT OF OPERATIONS Commissions 622,024 Revenue from Investment Company Shares 535,219 Revenue from Sales of Insurance-Based Products 901,770 Revenue from Registered Representatives 78,677 Other revenue 8,160 TOTAL REVENUES 2,145,850 Commission 1,809,778 Professional fees 100,172 Computer and Software 33,908 Wages and benefits 106,058 Regulatory expenses 36,558 Occupancy 9,794 Insurance 7,031 Clearing expenses 86,512 Travel and entertainment 2,390 Other 23,527 TOTAL EXPENSES 2,215,728 NET LOSS (69,878) -------------------------------------------------- STATEMENT OF CHANGES IN MEMBER'S EQUITY Balance December 31, 2023 470,102 Net Loss (69,878) Distributions (1,258) Balance December 31, 2024 398,966 -------------------------------------------------- STATEMENT OF CASH FLOWS Net Loss (69,878) Adjustments 75,339 Net Cash from Operating Activities 5,461 Distributions (1,258) Net Increase in Cash 4,203 Beginning Cash 2,121 Ending Cash 6,324 -------------------------------------------------- NOTES TO FINANCIAL STATEMENTS Modern Capital Securities Inc. is a broker-dealer registered with the SEC and FINRA. The Company operates under Rule 15c3-3 exemption (k)(2)(ii). Financial statements are prepared in accordance with GAAP. -------------------------------------------------- SCHEDULE I - NET CAPITAL Net Capital 27,631 Required Minimum 8,956 Excess Net Capital 18,675 -------------------------------------------------- EXEMPTION REPORT The Company claimed exemption under Rule 15c3-3(k)(2)(ii) and complied throughout the year without exception. -------------------------------------------------- SUPPLEMENTAL REPORTS Independent accountant reports and SIPC procedures performed under SEC Rule 17a-5. -------------------------------------------------- SIPC REPORT Total Revenue 2,145,851 SIPC Net Operating Revenue 627,074 General Assessment 941 END OF REPORT Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.