# VISCOGLIOSI & COMPANY, LLC X-17A-5/A (2021-04-20) — Broker-dealer annual report - Company: VISCOGLIOSI & COMPANY, LLC - Form: X-17A-5/A - Filed: 2021-04-20 - Period: 2020-12-31 - Accession: 0001307978-21-000003 - CIK: 1307978 - File #: 8-66717 - Material weakness: No - Auditor: Sanford Becker & Co. P.C. - Auditor location: New York, NY - Contact: Jean Urquiola - Phone: 212-588-0580 - Signed by: Jean Urquiola (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1307978/000130797821000003/vcopublic2020final.pdf --- {0}------------------------------------------------ ### **VISCOGLIOSI & COMPANY, LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2020** {1}------------------------------------------------ UNITED STATES SECURITIES ANDEXCHANGE COMMISSION Washington, D.C. 20549 # ANNUAL AUDITED REPORT FORM X-17A-5 PART III OMB APPROVAL OMB Number: 3235-0123 Expires: October 31, 2023 Estimated average burden hours per response .. . . . . . 12.00 | SEC FILE NUMBER | |-----------------| | 8-66717 | 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 | 01/01/20 | AND ENDING | 12/31/20 | |---------------------------------------------------|------------------------------|------------|-----------------------| | | MM/DD/YY | | MM/DD/YY | | | A. REGISTRANT IDENTIFICATION | | | | SELLE OF DROWER DELESS. Vionaglian & Common) P | | | orriolai Loc oxil V | | 505 Park Avenue | | |-------------------------------------------------------------------|----------------------| | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) | FIRM I.D. NO. | | | | | NAME OF BROKER-DEALER: VISCOğlIOSI & GOMPany, LEU | UFFICIAL USE UNLY I | (No. and Street) | New York | NY | 10022 | | |------------------------------------------------------------------------------------------|---------------------------------------------------------------------|------------|--------------------------------| | (City) | (State) | (Zip Code) | | | NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS REPORT
Jean Urquiola | | | 212-744-1549 | | | | | (Area Code - Telephone Number) | | | B. ACCOUNTANT IDENTIFICATION | | | | INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report* | | | | | Sanford Becker & Co. P.C. | | | | | | (Name - if individual, state last, first, middle name) | | | | 1430 Broadway | New York | NY | 10018 | | (Address) | (City) | (State) | (Zip Code) | | CHECK ONE: | | | | | Certified Public Accountant | | | | | Public Accountant | | | | | | 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 accountunt must be supported by a statement of facts and circumsances 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 OMB control number. SEC 1410 (11-05) {2}------------------------------------------------ ## OATH OR AFFIRMATION | Jean Urquiola | swear (or affirm) that, to the best of | | |-------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------|----| | | my knowledge and belief the accompanying financial statement and supporting schedules pertaining to the firm of | | | Viscogliosi & Company, LLC | | 82 | | of December 31 | 20 20
, are true and correct. I further swear (or affirm) that | | | | neither the company nor any partner, principal officer or director has any proprietary interest in any account | | | classified solely as that of a customer, except as follows: | | | | | 112 | |---------------|--------------------------------------------------------------------------------------------------------------| | | Signature | | | Title | | Notary Public | SIQI LI
Notary Public - State of New York
Registration No. 01 LIG330376
Ounliked in Oncens Couldry | ## ORDERSER 201 Ancenta C This report \*\* contains (check all applicable boxes): My Commission Expires 09/14/201 - ನ (a) Facing Page. - い (b) Statement of Financial Condition. - (c) Statement of Income (Loss) or, if there is other comprehensive in the period(s) presented, a Statement of Comprehensive Income (as defined in \$210.1-02 of Regulation S-X), - (d) Statement of Changes in Financial Condition. - (e) Statement of Changes in Stockholders' Equity or Partners' or Sole Proprietors' Capital. - (f) Statement of Changes in Liabilities Subordinated to Claims of Creditors. - (g) Computation of Net Capital. - (h) Computation for Determination of Reserve Requirements Pursuant to Rule 15c3-3. - (i) Information Relating to the Possession or Control Requirements Under Rule 15c3-3. - (i) A Reconciliation, including appropriate explanation of Net Capital Under Rule 15c3-1 and the Computation for Determination of the Reserve Requirements Under Exhibit A of Rule 15c3-3. - (k) A Reconciliation between the audited Statements of Financial Condition with respect to methods of consolidation. - (1) An Oath or Affirmation. > - (m) A copy of the SIPC Supplemental Report. - (n) A report describing any material inadequacies found to have existed since the date of the previous audit. \*\* For conditions of confidential treatment of certain portions of this filing, see section 240.17a-5(e)(3). {3}------------------------------------------------ ### **VISCOGLIOSI & COMPANY, LLC ANNUAL REPORT DECEMBER 31, 2020** ### **TABLE OF CONTENTS** | | Page | |---------------------------------------------------------|----------| | Report of Independent Registered Public Accounting Firm | 1 | | Financial Statement | | | Statement of Financial Condition | 2 | | Notes to Statement of Financial Condition | 3 -
5 | {4}------------------------------------------------ #### SANFORD BECKER & CO., P.C. CERTIFIED PUBLIC ACCOUNTANTS AND BUSINESS ADVISORS GEORGE S. GETZ, CPA SANFORD BECKER, CPA 1922-1994 SANFORD E. BECKER, CPA 1957-2008 1430 BROADWAY, SUITE 605 NEW YORK, N.Y. 10018 TELEPHONE (212) 921 - 9000 FACSIMILE (212) 354 -1822 #### Report of Independent Registered Public Accounting Firm To the Members of Viscogliosi & Company LLC #### Opinion on the Financial Statements We have audited the accompanying statement of financial condition of Viscogliosi & Company LLC, as of December 31, 2020 and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement present fairly, in all material respects, the financial position of the Company, as of December 31, 2020 in conformity with the accompanying principles generally accepted in the United States of America. #### Basis for Opinion This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statement based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board ("PCAOB") and are required to be independent with respect to the Company in accordance with 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 is free of material misstatements, 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 overall presentation of the financial statement. We believe that our audit provides a reasonable basis for our opinion. We have served as the Company's auditors since 2009. New York, NY February 25, 2021 {5}------------------------------------------------ #### **VISCOGLIOSI & COMPANY, LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2020** | Total Assets | 69 | 38,448 | |--------------|----|--------| | Other assets | | 3.962 | | Cash | 69 | 34.486 | | Total Liabilities and
Members' Equity | S | 38.448 | |------------------------------------------|---|--------| | Members' Equity
Members' equity | | 23,046 | | Liabilities
Accrued expenses | S | 15.402 | The accompanying notes are part of this financial statement. {6}------------------------------------------------ #### **VISCOGLIOSI & COMPANY, LLC NOTES TO STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2020** #### **Note 1 - Summary of Significant Accounting Policies** #### **Nature of Operations** Viscogliosi & Company, LLC, (the "Company"), is majority owned by Viscogliosi Brothers, LLC ("VB"). The Company is a registered broker-dealer and is a member of the Financial Industry Regulatory Authority (FINRA) and is subject to regulation by the United States Securities and Exchange Commission (SEC) and FINRA. The Company provides and is engaged in private placements, investment banking and underwriting services. All revenue, if any is derived from the Company's private placement income, advisory and consulting fees which are from affiliated companies in which the Company, VB, or certain members of VB have ownership interests. VB intends to provide the Company with sufficient working capital to meet future operations and minimum net capital requirements. #### **Securities Transactions** Securities owned are carried at quoted market values, and securities not readily marketable are valued at fair value as determined by management. Securities transactions and the related revenue and expenses are recorded on a trade date basis. #### **Revenue Recognition** The Company provides private placement and investment banking services to its clients. Revenue for these services is generally recognized at the point in time that performance under the arrangements is completed (the closing of the transaction) or the contract is cancelled and when the amount is determinable and realizable. #### **Use of Estimates** The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. {7}------------------------------------------------ #### **VISCOGLIOSI & COMPANY, LLC NOTES TO STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2020** #### **Note 1 - Summary of Significant Accounting Policies (Continued)** #### **Cash Equivalents** For purposes of the statement of cash flows, cash equivalents include highly liquid debt instruments purchased with original maturities of three months or less. #### **Income Taxes** The Company, as a limited liability company, has elected to be treated similar to a partnership, whereby its taxable income or loss is taxable directly to its members. Accordingly, no provision for Federal and State income tax has been provided. Management of the Company is not aware of any issues or circumstances that would unfavorably impact its tax status. Management has determined that the Company had no uncertain tax positions that would require financial statement recognition. #### **Note 2 - Concentration of Credit Risk** The Company maintains cash balances at a financial institution. Accounts at the institution are insured by the Federal Deposit Insurance Corporation up to \$250,000. #### **Note 3 - Net Capital Requirements** The Company is subject to the net capital requirements of SEC Rule 15c3-1, which requires a broker-dealer to have at all times sufficient liquid assets to cover current indebtedness. In accordance with the rule, the Company is required to maintain minimum net capital of the greater of \$5,000 or 1/15th of aggregate indebtedness. At December 31, 2020, the Company had net capital, as defined, of \$19,084 which exceeded the required minimum net capital by \$14,084. Aggregate indebtedness at December 31, 2020 totaled \$15,402 and the ratio of aggregate indebtedness to net capital was .81 to 1. {8}------------------------------------------------ #### **VISCOGLIOSI & COMPANY, LLC NOTES TO STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2020** #### **Note 4 – Related Party Transactions** The Company has an agreement with VB, whereby the Company pays VB for rent and administrative services. At December 31, 2020, there is a balance due from the Company to VB of \$7,200, which is included in accrued expenses on the statement of financial condition. The Company recognizes that it does not have sufficient revenue to support its ongoing operations. VB has assured the Company that it will continue to provide the necessary capital to ensure that the Company remains in net capital compliance under Rule 15c3-1. Further, VB has confirmed that it has the necessary capital to continue to fund the operations of the Company through the end of 2021. #### **Note 5 – New Accounting Pronouncement** In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments related to ASC Topic 326 ("ASC 326"), requiring the immediate recognition of management's estimates of current expected credit losses. ASC 326 is effective for fiscal years beginning after December 15, 2019 and has been adopted by the Company for fiscal year ended December 31, 2020. The Company currently has no assets on its balance sheet that require measurement of credit losses. As such, the Company has determined that there is no material impact on the Company's statement of financial condition resulting from the adoption of ASC 326. #### **Note 6 – Contingencies** In March 2020, the outbreak of COVID-19 (coronavirus) caused by a novel strain of the virus was recognized as a pandemic by the World Health Organization, and the outbreak has become increasingly widespread in the Unites States, including in each of the areas in which the Company operates. The Company has continued its operations throughout this pandemic and management expects business operations to continue as is for the foreseeable future. The extent to which the outbreak has impacted the Company's operations has not been significant and the Company expects this to remain the case. #### **Note 7 – Subsequent Events** The Company has evaluated subsequent events through the date that this financial statement was available to be issued. There were no subsequent events requiring disclosure. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.