# WEILD CAPITAL, LLC X-17A-5 (2022-02-28) — Broker-dealer annual report - Company: WEILD CAPITAL, LLC - Form: X-17A-5 - Filed: 2022-02-28 - Period: 2021-12-31 - Accession: 0001297293-22-000001 - CIK: 1297293 - File #: 8-66593 - Type: Broker-dealer - Material weakness: No - Auditor: Michael Coglianese CPA PC - Auditor location: Bloomingdale, IL - Contact: David R Chaskin - Phone: 9142634742 - Email: david.chaskin@weildco.com - Website: weildco.com - Signed by: David R Chaskin (Chief Financial Officer & FinOp) Original filing: https://www.sec.gov/Archives/edgar/data/1297293/000129729322000001/weildpublic.pdf --- {0}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235-0123 Expires: Oct. 31, 2023 Estimated average burden hours per response: 12 SEC FILE NUMBER 8-66593 # ANNUAL REPORTS FORM X-17A-5 PART III FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 12/31/21 01/01/21 FILING FOR THE PERIOD BEGINNING \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ AND ENDING MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION NAME OF FIRM: Weild Capital, LLC (dba Weild & Co) TYPE OF REGISTRANT (check all applicable boxes): 12 Broker-dealer [] Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) 777 29th St., Suite 402 (No. and Street) 80303 Boulder CO (Zip Code) (City) (State) PERSON TO CONTACT WITH REGARD TO THIS FILING (914) 263-4742 David R Chaskin david.chaskin@weildco.com (Area Code - Telephone Number) (Email Address) (Name) B. ACCOUNTANT IDENTIFICATION INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* Michael Coglianese CPA, P.C. (Name – if individual, state last, first, and middle name) 125 E. Lake St., Suite 303 Bloomingdale 11 60108 (State) (Zip Code) (City) (Address) 3874 10/20/09 (PCAOB Registration Number, if applicable) (Date of Registration with PCAOB)(if applicable) 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-5(e)(1)(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 OMB control number. {1}------------------------------------------------ # OATH OR AFFIRMATION | | | David R Chaskin | | |-----------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--| | | | swear (or affirm) that, to the best of my knowledge and belief, the
financial report pertaining to the firm of ___________________________________________________________________________________________________________________________________
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | | | | December 31 __________________________________________________________________________________________________________________________________________________________________ | | | | | 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. | | | | | Title:
Chief Financial Officer & FinOp | | | | | Noțary Public | | | | | SHIRLEY MATHEWS
Notary Public | | | | | This filing** contains (check all applicable boxes):
Connecticut | | | | | My Commission Expires Aug 31, 2022
(a) Statement of financial condition. | | | | | 2 (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 | | | | | comprehensive income (as defined in § 210.1-02 of Regulation S-X). | | | | | L (d) Statement of cash flows. | | | | | O (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. | | | O (f) Statement of changes in liabilities subordinated to claims of creditors.
[g) Notes to consolidated financial statements. | | | | | | | □ (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. | | | | | [] (i) Computation of tangible net worth under 17 CFR 240.18a-2. | | | □ (j) Computation for determination of customer requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. | | | | | | | [] (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 240.18a-4, as applicable. | | | | | | | | | ال (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3.
□ (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.
(o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capible net | | | | | | | | | | | | | | | | worth under 17 CFR 240.18-1, or 17 CFR 240.188-1, or 17 CFR 240.188-2, 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. | | | | | പ (p) Summary of financial data for subsidiated in the statement of financial condition. | | | | | (d) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. | | | | | (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. | | | | | ال (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. | | | | | (2) Independent public accountant's report based on an examination of the statement of financial condition.
[ (u) Independent public accountant's report based on an examination of the financial statements under 17 | | | | | CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. | | | | | (v) Independent public accountant's report based on an examination of certain statements in the 17 | | | | | CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. | | | | | ا (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 applicable. | | | | | | | [] (y) Report describing any material inadequacies 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). □ (z) Other: \*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.170-5(e)(3) or 17 CFR 240.18c-7(d)(2), os applicable. {2}------------------------------------------------ # **Weild Capital, LLC** dba Weild & Co. FINANCIAL STATEMENTS AND REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM DECEMBER 31, 2021 {3}------------------------------------------------ **dba Weild & Co.** | | Page(s) | | | |--------------------------------------------------------------------------|---------|--|--| | Report of
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1 | | | | | Financial Statements | | | | | Statement of
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Financial
Statements3-5 | | | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ### **Report of Independent Registered Public Accounting Firm** To the Members and Board of Directors of Weild Capital, LLC #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Weild Capital, 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 Weild Capital, 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 Weild Capital, LLC's management. Our responsibility is to express an opinion on Weild Capital, 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 Weild 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 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 Weild Capital, LLC's auditor since 2010. Bloomingdale, IL February 22, 2022 {5}------------------------------------------------ **dba Weild & Co.** # **STATEMENT OF FINANCIAL CONDITION** ### **December 31, 2021** # **ASSETS** | Cash
Accounts receivable
Prepaid expenses | \$
990,406
826,529
47,204 | |-------------------------------------------------|------------------------------------| | Total assets | \$
1,864,139 | | LIABILITIES AND MEMBERS' EQUITY | | | Liabilities | | | Accounts payable and accrued expenses | \$
48,707 | | Due to consultants | 1,364,851 | | Total liabilities | 1,413,558 | | Members' equity | 450,581 | | Total liabilities and members' equity | \$
1,864,139 | See accompanying notes to financial statements. {6}------------------------------------------------ **dba Weild & Co.** # **NOTES TO FINANCIAL STATEMENTS** ### **1. Nature of business and summary of significant accounting policies** #### *Nature of Business* Weild Capital LLC (the "Company"), a New York Limited Liability Corporation, is a broker-dealer, registered with the Financial Industry Regulatory Authority ("FINRA"), and licensed by the Securities and Exchange Commission ("SEC"). The Company is wholly owned by Weild & Co. Inc. ("the Parent"). Mr. David Weild IV is the majority shareholder of the Parent. The Company, as a broker-dealer, does not carry margin accounts, promptly transmits all customer funds and delivers all securities received in connection with the Company's activities as a broker-dealer, and does not otherwise hold funds or securities for, or owe money or securities to, customers. The Company provides investment banking and consulting services. ### *Government and Other Regulation* The Company's business is subject to significant regulation by governmental agencies and self-regulatory organizations. Such regulation includes, among other things, periodic examinations by these regulatory bodies to determine whether the Company is conducting and reporting its operations in accordance with the applicable requirements of these organizations. #### *Basis of Presentation* The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") as detailed in the Financial Accounting Standards Board's Accounting Standards Codification ("ASC"). #### *RevenueRecognition* The Company recognizes revenue in accordance with ASC-606 Revenue from Contracts with Customers. Revenue recognition guidance requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance requires an entity to follow a five-step model to (a) identify the contracts with the customer, (b) identify the performance obligations in the contract, (c) determining the transaction price, (d) allocate the transaction price to the performance obligations in the contract, and (e) recognize revenue when (or as) the entity satisfies a performance obligation. Revenue from contracts with customers includes transaction fees. Revenues from services provided are recognized at the time there is persuasive evidence that the Company's services have been substantially completed pursuant to the terms of an engagement letter, the fee is determinable, and collection of the related receivable is reasonably assured. The recognition and measurement of revenue is based on the assessment of individual contract terms. {7}------------------------------------------------ **dba Weild & Co.** ### **NOTES TO FINANCIAL STATEMENTS** #### **1. Nature of business and summary of significant accounting policies (continued)** #### *Accounts Receivable* The Company recognizes revenue from retainer, service and other fees in the period they are earned and are reasonably assured as collectible. Accounts Receivable are reviewed periodically. The Company has not made provisions for bad debt expense or any amount of allowance for uncollectable accounts at year-end since it has determined that there is no need for any write-offs. #### *Receivables and Contract Balances* Receivables arise when the Company has an unconditional right to receive payment under a contract with a customer and are derecognized when the cash is received. At December 31, 2021, there were receivables of \$826,529 reported in the statement of financial condition. Contract assets arise when the revenue associated with the contract is recognized prior to the Company's unconditional right to receive payment under a contract with a customer (i.e., unbilled receivable) and are derecognized when either it becomes a receivable or the cash is received. Contract liabilities arise when customers remit contractual cash payments in advance of the Company satisfying its performance obligation under the contract and are derecognized when the revenue associated with the contract is recognized when the performance obligation is satisfied. The Company had no contract assets or liabilities at December 31, 2021. #### *Income Taxes* The Company does not record a provision for income taxes because the members report their share of the Company's income or loss on their income tax returns. The financial statements reflect the Company's transactions without adjustment, if any, required for income tax purposes. The Company files an income tax return in the U.S. federal jurisdiction and may file income tax returns in various U.S. states and foreign jurisdictions. Generally, the Company is subject to income tax examinations by major taxing authorities for the last three years. #### *Use of Estimates* The preparation of financial statements in conformity with GAAP requires the Company's management to make estimates and assumptions that affect the reported amounts of 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. {8}------------------------------------------------ **dba Weild & Co.** ### **NOTES TO FINANCIAL STATEMENTS** #### **2. Net capital requirement** The Company is a member of FINRA and is subject to the SEC's Uniform Net Capital Rule 15c3-1. The Company has elected to compute its net capital requirement pursuant to SEC Rule 15c3-1, which requires minimum net capital of The greater of \$5,000 or 6.67% of aggregate indebtedness and a ratio of aggregate indebtedness to net capital not exceeding 15 to 1. At December 31, 2021, the Company's net capital was \$182,889 which was \$88,652 in excess of its minimum requirement of \$94,237. ### **3. Concentrations of credit risk** In the normal course of business, the Company maintains its cash balances in a financial institution which is insured by the Federal Insurance Corporation ("FDIC"). The Company is subject to credit risk to the extent any financial institution with which it conducts business is unable to fulfill contractual obligations on its behalf. The Company's account balances that are non-interest-bearing accounts are subject to the Dodd-Frank Walk Street Reform and Consumer Protection Act (the "Act"). The Company's interest-bearing cash balances may exceed the FDIC coverage of \$250,000. As of December 31, 2020, the Company did not have balances in excess of 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. ### **4. Related party transactions** The Company has an expense sharing agreement, with Weild & Co., Inc. There was no balance due to Weild & Co., Inc. as of December 31, 2021. ### **5. Commitments and contingencies** The Company may be exposed to various asserted and unasserted potential claims encountered in the normal course of business. In the opinion of management, the resolution of any such these matters will not have a material effect on the Company's financial position or results of operations. #### **6. Subsequent events** The Company has evaluated subsequent events through the date of the Independent Registered Public Accounting Firm Report, whereupon the financial statements were issued and determined there are no items to disclose. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.