# CREATIS CAPITAL LLC X-17A-5 (2019-03-11) — Broker-dealer annual report - Company: CREATIS CAPITAL LLC - Form: X-17A-5 - Filed: 2019-03-11 - Period: 2018-12-31 - Accession: 0001292545-19-000001 - CIK: 1292545 - File #: 8-66533 - Material weakness: No - Auditor: Weintraub & Associates, LLP - Auditor location: White Plains, NY - Contact: jon nixon - Phone: 5164908400 - Signed by: Michael Bohlmann (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1292545/000129254519000001/creatisr.pdf --- {0}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** # **ANNUAL AUDITED REPORT FORM X-17 A-5** | | 0MB APPROVAL | | |--------------------------|--------------------------|--| | OMBNumber: | 3235-0123 | | | Expires: | March 31, 2016 | | | Estimated average burden | | | | | hours oerresoonse 12.00 | | # SEC FILE NUMBER ## **PART Ill** **8-66533** **FACING PAGE Information Required of Brokers and Dealers Pursuant to Section 17 of the Securities Exchange Act of 1934 and Rule 17a-5 Thereunder** | REPORT FOR THE PERIOD BEGINNING __ | | 0~l~/0~1~/1--=-8
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MM/DD/YY | |---------------------------------------------------------------------------------------|------------------------------|--------------------------------------------------------|-------------------|------------------------|---------------------------------------| | | A. REGISTRANT IDENTIFICATION | | | | | | NAME OF BROKER-DEALER: Creatis Capital, LLC | | | | | OFFICIAL USE ONLY | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) | | | | FIRM I.D. NO. | | | 120 East 23rd Street, 4th Floor | | | | | | | | | (No. and Street) | | | | | New York | | NY | | 10010 | | | (City) | | (State) | | (Zip Code) | | | NAME AND TELEPHONE NUMBER OF PERSON TO CONT ACT IN REGARD TO THIS
Michael Bohlmann | | | | REPORT
646-535-0328 | | | | | | | | (Area Code - Telephone Number) | | | B. ACCOUNTANT IDENTIFICATION | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report* | | | | | | | Weintraub & Associates LLP | | | | | | | | | (Name - if individual, state last, first, middle name) | | | | | 200 Mamaroneck Ave., Suite 502 | White Plains | | | NY | 10601 | | (Address) | (City) | | (State) | | (Zip Code) | | CHECK ONE: | | | | | | | 1:81 Certified Public Accountant | | | | | | | D Public Accountant | | | | | | | D Accountant not resident in United States or any of its possessions. | | | | | | | | | FOR OFFICIAL USE ONLY | | | | | | | | | | | *\*Claims for exemption from the requirement that the annual report be covered by the opinion of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis for the exemption. See Section 240.17a-5(e)(2)* > **Potential 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.** SEC 1410 (06-02) {1}------------------------------------------------ #### **OATH OR AFFIRMATION** I Michael Bohlmann swear (or affirm) that, to the best of my knowledge and belief the accompanying financial statement and supporting schedules pertaining to the firm of Creatis Capital. LLC , as of December 31 2018 , are true and correct. I further swear ( or affirm) that neither the company nor any partner, proprietor, principal officer or director has any proprietary interest in any account classified solely as that of a customer, except as follows: · HECTOR PADILLA Notary Public - State of New York NO. 01 PA6270383 ~ Qualified in Bronx County ..,,,, -..-c.,,M-yCommission Expires Dec 16, 2020 *c~o* Title Notary Public This report\*\* contains (check all applicable boxes): - **181**(a) Facing Page. - **181**(b) Statement ofFinancial Condition. - **181**(c) Statement oflncome (Loss). - Ii (d) Statement ofCheges ift Fiftflfteial Ceaditi8ft Cash Flows. - Iii (e) Statement of Changes in Stockholders' Equity or Partners' or Sole Proprietors' Capital. - **D** (f) Statement of Changes in Liabilities Subordinated to Claims of Creditors. - **181**(g) Computation of Net Capital. - **181**(h) Computation for Determination of Reserve Requirements Pursuant to Rule 15c3-3. - **181**(i) Information Relating to the Possession or Control Requirements Under Rule 15c3-3. - **181**G) A Reconciliation, including appropriate explanation of the Computation ofNet Capital Under Rule 15c3-l and the Computation for Determination of the Reserve Requirements Under Exhibit A of Rule 15c3-3. - **0** (k) A Reconciliation between the audited and unaudited Statements of Financial Condition with respect to methods of consolidation. - **181**(l) An Oath or Affirmation. - **D** (m) A copy of the SIPC Supplemental Report. - **0** ( n) A report describing any material inadequacies found to exist or found to have existed since the date of the previous audit. \*\* *For conditions of confidential treatment of certain portions of this filing, see section 240.17 a-5(e)(3).* {2}------------------------------------------------ ## CREATIS CAPITAL, LLC. ### FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION FOR THE YEAR ENDED DECEMBER 31 , 2018 {3}------------------------------------------------ ## **CREATIS CAPITAL, LLC Financial Statements For The Year Ended December 31, 2018** ## CONTENTS | Report of Independent Registered Public Accounting Firm | 1 | |---------------------------------------------------------------------------------------------------------------------------------------------------|-----| | Financial Statements | | | Statement of Financial Condition | 2 | | Statement of Operations | 3 | | Statement of Changes in Member's Capital | 4 | | Statement of Cash Flows | 5 | | Notes to Financial Statements | 6-8 | | SUPPLEMENTARY INFORMATION TO FINANCIAL STATEMENTS | | | Schedule I -
Computation of Net Capital under Rule 15c3-1
of the Securities and Exchange Commission | 9 | | Computation for Determination of Reserve Requirement
Schedule II -
under SEC Rule 15c3-3 of the Securities and Exchange Commission | 10 | | Schedule Ill - Information Relating to the Possession and Control Requirements
under SEC Rule 15c3-3 of the Securities and Exchange Commission | 11 | | Report of Independent Registered Public Accounting Firm on the Company's
Exemption Report | 12 | | Creatis Capital, LLC Exemption Report (Assertions Report) | 13 | {4}------------------------------------------------ # **Weintraub & Associates, LLP** Certified Public Accountants '.WO Mamaroneck Avenue Suite 502 White Plains. New York l 0601 #### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Board of Directors and Members of Creatis Capital, LLC #### **Opinion on the Financial Statements** We have audited the accompanying statement offinancial condition of Creatis Capital, LLC as of December 31, 2018, the related statements of operations, changes in members' equity, and cash flows for the year then ended, and the related notes and schedules (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of Creatis Capital, LLC as of December 31, 2018, and the results of its operations and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** These financial statements are the responsibility of Creatis Capital, LLC's management. Our responsibility is to express an opinion on Creatis Capital, LLC's financial statements 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 Creatis Capital, 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 statements are 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 statements, 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. #### **Auditor's Report on Supplemental lnfonnation** The Schedule I-Computation of Net Capital under Rule 15c3-1 of the Securities and Exchange Commission, Schedule II-Computation for Determination of Reserve Requirement under SEC Rule 15c3-3 of the Securities and Exchange Commission and Schedule Ill-Information Relating to the Possession and Control Requirements under SEC Rule 15c3-3 of the Securities and Exchange Commission has been subjected to audit procedures performed in conjunction with the audit of Creatis Capital, LLC's financial statements. The suppiemerital information is the responsibility of Creatis Capital, LLC's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with 17 C.F.R. §240.1 ?a-5. In our opinion, the Schedule I-Computation of Net Capital under Rule 15c3-1 of the Securities and Exchange Commission, Schedule II-Computation for Determination of Reserve Requirement under SEC Rule 15c3-3 of the Securities and Exchange Commission and Schedule Ill-Information Relating to the Possession and Control Requirements under SEC Rule 15c3-3 of the Securities and Exchange Commission is fairly stated, in all material respects, in relation to the financial statements as a whole. **Weintraub** & **Associates, LLP** Certified Public Accountants We have served as Creatis Capital, LLC's auditor since 2015. White Plains, New York February 26, 2019 Tel: (914) 761-4773 • Fax: (914) 761-2902 Website: www.weintraubcpa.com {5}------------------------------------------------ ## **CREA TIS CAPITAL, LLC Statement of Financial Condition For The Year Ended December 31, 2018** ## ASSETS | Cash in Bank
Consulting Fees Receivable
Security Deposit
Prepaid Expenses | \$
14,387
20,638
3,510
3,600 | |------------------------------------------------------------------------------------|------------------------------------------| | Total Assets | \$
42,135 | | LIABILITIES AND MEMBER'S CAPITAL | | | Liabilities: | | | Accounts Payable & Accrued Expenses | \$
4,425 | | Total Liabilities | 4,425 | | | | | Member's Capital | 37,710 | | Total Liabilities and Member's Capital | \$
42,135 | {6}------------------------------------------------ ## **CREATIS CAPITAL, LLC Statement of Operations For The Year Ended December 31, 2018** #### Revenues | Managed Fees
Miscellaneous Income
Total Revenues | \$
107,442
3,419
110,861 | |--------------------------------------------------------|-----------------------------------| | Operating Expenses | | | Commission Expense | 84,668 | | Professional Expenses | 6,163 | | Regulatory Fees | 21,365 | | Other Operating Expenses | 15,752 | | Total Operating Expenses | 127,948 | | Net Income (Loss) | \$
(17,087) | | | | {7}------------------------------------------------ ## **CREATIS CAPITAL, LLC Statement of Member's Capital For The Year Ended December 31, 2018** | Balance - December 31 , 2017 | \$
36,797 | |------------------------------|--------------| | Capital Contribution | 18,000 | | Net Loss | (17,087) | | Balance - December 31 , 2018 | \$
37,710 | {8}------------------------------------------------ ## **CREATIS CAPITAL, LLC Statement of Cash Flows For The Year Ended December 31, 2018** | Cash Flows From Operating Activities: | | |--------------------------------------------------------------------------------------|----------------| | Net Loss | \$
(17,087) | | Adjustments to Reconcile Net Income (Loss) to Net Cash Used by Operating Activities: | | | Increase in Consulting Fees Receivable | (500) | | Increase in Prepaid Expenses | (249) | | Increase in Accounts Payable and Accrued Expenses | (142) | | | (891) | | Net Cash Used by Operating Activities | (17,978) | | | | | Cash Flows From Financing Activities: | | | Capital Contributed | 18,000 | | Cash Flows Provided by Financing Activities: | 18,000 | | | | | Net Increase in Cash | 22 | | | | | Cash - Beginning of Year | 14,365 | | Cash - End of Year | | | | \$
14,387 | {9}------------------------------------------------ ## **CREA TIS CAPITAL, LLC Notes to Financial Statements For the year ended December 31, 2018** ## **1. Organization and Business** Creatis Capital LLC (f/k/a Northwinds Advisors LLC) (the "Company") is a wholly owned limited liability company of Creatis LLC. The Company is a broker-dealer registered with the Securities and Exchange Commission ("SEC") under rule 15c3-3(k)(2)(i) and is a member of the Financial Industry Regulatory Authority ("FINRA") and Security Investors Protection Corporation ("SIPC"). Effective January 30, 2015, Northwinds Renewables LLC sold all its interests in the Company to Creatis LLC and Northwinds Advisors LLC underwent a name change to Creatis Capital LLC. The Company engages in the private placement of securities. The Company engages in the distribution of private offerings of limited partnerships and other similarly structured instruments. On July 15, 2015 FINRA approved the Company to expand its business into mergers and acquisitions advisory services. Pursuant to SEC Rule 15c3-3(k)(2)(i) (the Customer Protection Rule) Creatis Capital LLC does not hold any customer funds or safekeep customer securities. ## **2. Summary of Significant Accounting Policies and Basis of Presentation** ## **Use of Estimates** The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities as of 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. ### **Revenue** All revenues will be recorded as earned. #### **Cash** The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. As of December 31, 2018, there were no cash equivalents. #### **Income Taxes** The Company is a single member limited liability company, and as such, is treated as a disregarded entity by the Internal Revenue Code ("IRC"). The IRC provides that any income or loss is passed through to the ultimate beneficial member for federal and state income taxes. Accordingly, the Company has not provided for federal and state income taxes. The Company is not required to file an income tax return as it is a disregarded entity for federal tax purposes. The Parent of the Company is a single member limited liability company, and as such the income is reported directly to the single member owner. Accordingly, no provision is made for income taxes in the financial statements. {10}------------------------------------------------ ## **CREA TIS CAPITAL, LLC Notes to Financial Statements For the year ended December 31, 2018** ### **2. Summary of Significant Accounting Policies and Basis of Presentation (Continued)** ## **Income Taxes (Continued)** The Company has adopted the uncertainty in income tax accounting standard. This standard provides applicable measurement and disclosure guidance related to uncertain tax positions. Adoption of this standard has had no effect on the Company's financial statements. The Company remains subject to U.S. federal and state income tax audits for all periods subsequent to and including 2015. At December 31, 2018, 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. ### **New Accounting Pronouncements** On January 1, 2018, the Company adopted Accounting Standards Update ("ASU") 2014-09, "Revenue from Contracts with Customers (Topic 606)" and related ASUs. ASU 2014-09 clarifies that revenue from contracts with clients should be recognized in a manner that depicts the timing of the related transfer of goods or performance of services at an amount that reflects the expected consideration. Adoption allowed either the full or modified retrospective transition method. Full retrospective transition required a cumulative effect adjustment to retained earnings as of the earliest comparative period presented. Modified retrospective transition required a cumulative effect adjustment to retained earnings as of the beginning of the reporting period in which the entity first applies the new guidance. The Company used the modified retrospective method of transition, which requires a cumulative effect accounting adjustment as of the date of adoption. The Company did not have a cumulative-effect adjustment as of the date of adoption. In February 2016, the FASB issued a new accounting pronouncement regarding lease accounting for reporting periods beginning after December 15, 2019. A lessee will be required to recognize on the balance sheet the assets and liabilities for leases with lease terms of more than 12 months. Management is currently evaluating the effect this pronouncement will have on the financial statements and related disclosures. ## **3. Regulatory Requirement** The Company is subject to SEC Uniform Net Capital Rule 15c3-1 under the Securities Exchange Act of 1934, 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 15 to 1. At December 31, 2018, the Company had net capital of \$9,962 which exceeded the required net capital by \$4,962. The Company is exempt from the provisions of Rule 15c3-3 under the Securities Exchange Act of 1934 as the Company does not hold customers' cash or securities. {11}------------------------------------------------ ## **CREATIS CAPITAL, LLC Notes to Financial Statements Fortheyearended December 31, 2018** #### **4. Risks and Concentrations** The Company maintains all cash in a major bank, which at times, may exceed Federal 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. ## **5. Related Party Transactions** The Company entered into an expense sharing agreement with its parent company providing administrative space. During 2018, the expenses paid \$3,810. #### **6. Subsequent Event** The Company has performed an evaluation of subsequent events through February 26, 2019, the date of the financial statements was issued. {12}------------------------------------------------ ## **CREATIS CAPITAL, LLC SCHEDULE** I **Computation Of Net Capital Under Rule 15c3-1 Of The Securities And Exchange Commission** #### **December 31, 2018** | Member's Equity | | \$
37,710 | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------|-----------------------| | Non-allowable Assets
Consulting Receivables
Security Deposit
Prepaid Expenses
Total Non-Allowable Assets
Net Capital before Haircuts on Proprietary Positions | \$
20,638
3,510
3,600 | 27,748
9,962 | | Haircuts | | | | Net Capital | | 9,962 | | Minimum Net Capital Requirement - the greater of \$5,000
or 6-2/3% of aggregate indebtness of \$4,425 | | 5,000 | | Excess Net Capital | | \$
4,962 | | Ratio of Aggregate lndebtness to Net Capital:
Schedule of Aggregate Indebtedness:
Accounts Payable and Accrued Expenses
Total Aggregrate Indebtedness
Ratio of A.I. to Net Capital | \$
4,425 | \$
4,425
44.42% | | Reconciliation with the Company's Computation (included
in Pat IIA of Form X-17-a-5 as of December 31,2018):
Net Capital, as reported in the Company's Part II unaudited
FOCUS Report
Audit Adjustments Affecting Equity
Audit Adjustments Affecting Non-Allowable Assets | \$
9,962 | | | Net Capital Per Above | | \$
9,962 | {13}------------------------------------------------ ## **CREATIS CAPITAL, LLC SCHEDULE** II **COMPUTATION FOR DETERMINATION OF RESERVE REQUIREMENTS UNDER RULE 15c-3-3 OF THE SECURITIES AND EXCHANGE COMMISSION** ## **December 31, 2018** The Company is a non-carrying broker-dealer exempt from the provisions of Rule 15c3-3 under the Securities Exchange Act of 1934 in that the Company's activiites are limited to those set forth in the conditions for exemption appearing in Paragraph (k)(2)(i) of that rule. {14}------------------------------------------------ ## **CREA TIS CAPITAL, LLC SCHEDULE** Ill **INFORMATION RELATING TO POSSESSION OR CONTROL REQUIREMENTS UNDER RULE 15c3-3 OF THE SECURITIES AND EXCHANGE COMMISSION** ## **December 31, 2018** The Company claims exemption from the requirements of Rule 15c3-3, under Section (k)(2)(i) of the Rule. {15}------------------------------------------------ Certified Public Accountants 200 Mamaroneck A venue Suite 502 'vVhite. Plains. New York 10601 ## **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIR\I ON THE COMP ANY'S EXEMPTION REPORT** To the Board of Directors and Member of Creatis Capital, LLC We have reviewed management's statements, included in the accompanying Creatis Capital, LLC 's Exemption Report (Assertions Report), in which (1) Creatis Capital, LLC identified the following provisions of 17 C.F.R. §15c3-3(k) under which Creatis Capital, LLC claimed an exemption from 17 C.F.R. §240.15c3-3: (k)(2)(i) (exemption provisions) and (2) Creatis Capital, LLC stated that Creatis Capital, LLC met the identified exemption provisions throughout the most recent fiscal year without exception. Creatis Capital, LLC 's management is responsible for compliance with the exemption provisions and its statements. Our review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included inquiries and other required procedures to obtain evidence about Creatis Capital, LLC's compliance with the exemption provisions. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's statements. Accordingly, we do not express such an opinion. Based on our review, we are not aware of any material modifications that should be made to management's statements referred to above for them to be fairly stated, in all material respects, based on the provisions set forth in paragraph (k)(2)(i) of Rule 15c3-3 under the Securities Exchange Act of 1934. **Weintraub & Associates, LLP** Certified Public Accountants White Plains, New York February 26, 2019 > Tel: (914) 761-4773 • Fax: (914) 761-2902 Website: www.weintraubcpa.com {16}------------------------------------------------ ![](_page_16_Picture_0.jpeg) **CREATIS CAPITAL LLC** 120 East 23rd Street, 4th Floor New York, NY 10010 ## **Creatis Capital, LLC's Exemption Report (Assertions Report)** Creatis Capital, LLC (the "Company") is a registered broker-dealer subject to Rule l 7a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240.17a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R. § 240.17a-5(d)(l) and (4). To the best of its knowledge and belief, the Company states the following: (1) The Company claimed an exemption from 17 C.F.R. § 240.15c3-3 under the following provisions of 17 C.F.R. § 240.15c3-3 (k): (2)(i) (2) The Company met the identified exemption provisions in 17 C.F .R. § 240.15c3-3(k)(2)(i) throughout the year ended December 31 , 2018, without exception. #### **Creatis Capital, LLC** I, Michael Bohlmann swear (or affirm) that, to my best knowledge and belief, this Exemption Report is true and correct. **By:~pg\_** Title?' Chief Executive Officer Date: February 26, 2019 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.