# TRANSACT CAPITAL SECURITIES, LLC X-17A-5 (2026-04-08) — Broker-dealer annual report - Company: TRANSACT CAPITAL SECURITIES, LLC - Form: X-17A-5 - Filed: 2026-04-08 - Period: 2024-12-31 - Accession: 0001313283-26-000002 - CIK: 1313283 - File #: 8-66778 - Type: Broker-dealer - Material weakness: No - Auditor: Meadows Urquhart Acree & Cook, LLP - Auditor location: Richmond, VA - Contact: Olga Rip - Phone: 8045641588 - Email: patrick@transactcapital.com - Website: transactcapital.com - Signed by: Patrick Morin (Managing Memebr) Original filing: https://www.sec.gov/Archives/edgar/data/1313283/000131328326000002/transactpublic.pdf --- {0}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** | ANNUAL REPORTS | |----------------| | FORM X-17A-S | | | 0MB APPROVAL 0MB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: l 2 > SEC FILE NUMBER 8-6678 **PART** Ill **FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934** FILING FOR THE PERIOD BEGINNING **O 1/01/2024** MM/DD/VY AND ENDING **12/31/2024** MM/DD/VY **A. REGISTRANT IDENTIFICATION** NAME oF FIRM : Transact Capital Securities, LLC TYPE OF REGISTRANT (check all applicable boxes): C!J Broker-dealer □ Security-based swap dealer □ Major security-based swap participant D Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) 4991 Lakebrook Drive, Suite 150 (No. and Street) Glen Allen Virginia 23060 (City) (State) (Zip Code) PERSON TO CONTACT WITH REGARD TO THIS FILING Patrick Morin (804)612-7103 patrick@transactcapital.com (Name) (Area Code - Telephone Number) (Email Address) **8. ACCOUNTANT IDENTIFICATION** INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* Meadows Urquhart Acree & Cook, LLP | 1802 Bayberry Court, Suite 102 | (Name - if individual, state last, first, and middle name)
Richmond | | Virginia 23226 | |--------------------------------------------|------------------------------------------------------------------------|--------------------------------------------|----------------| | (Address) | (City) | (State) | (Zip Code) | | r•
09/29/2009 | | 3688 | | | of Reglstcatloa with P(AOB)llf appHcable I | | (PCAOB Reglrtratloa N"mbec, 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-S(e}(l)(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 0MB control number.** {1}------------------------------------------------ ### **OATH OR AFFIRMATION** | | OATH OR AFFIRMATION | |---|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | swear (or affirm} that, to the best of my knowledge and belief, the
I, Patrick Morin | | | 2~
financial report pertaining to the firm of Tcaosact Capital Secwities, LLC
as of | | | 12/31
is true and correct. I further swear (or affirm) that neither the company nor any | | | ~
partner, officer, director, or equivalent persO{l 41MShe case may be, has any proprietary interest in any account classified solely
•"''
,,,,,
C~
~
as that of a customer.
"•,,,,
,,"'"
~
~


~
\$-'
•• ,if-
:
C:i
.•·
~
":r,
--
---~--
·A0·v
--
""
••
~ .
-:.
s ·
•
•
l
\
rgna ur .
,_____
NOTl'V'
•
~
c
_.-
:
:
\
:
,
PUBLIC
----11-------
:
: REG. #7839604 :
:
-+-
:MY COMMISStON: _ =
vV
---
Title:
11(;/,
--'---'--------------
\··
.: ~ :
; C"l \
EXPIRES
.• • i; :
~
_____
01'31/2027
Managing Member
~
•
.•· 0 ~
C.
-:;.
~:/
,~~---•• ~
.--~ot~ary~-
P-ub-lk.,__
,,,:,~In
;
,,,, | | | ,,,.,,,11 uu'''' | | | This filing** contains (check all applicable boxes): | | | ~ (a) Statement of financial condition.
~ (b) Notes to consolidated statement offinancial condition. | | 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. | | | □ (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. | | | □ (f) Statement of changes in liabilities subordinated to claims of creditors. | | D | (g) Notes to consolidated financial statements. | | D | (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-l, as applicable. | | D | (i) Computation of tangible net worth under 17 CFR 240.18a-2. | | D | (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. | | D | (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. | | D | (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 240.15c3-3. | | D | (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. | | D | (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net
worth under 17 CFR 240.15c3-l, 17 CFR 240.18a-l, or 17 CFR 240.18a-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. | | D | (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. | | | ~ (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. | | D | (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. | | | □ (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. | | | ~ (t) Independent 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 240.17a-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 compliance report under 17
CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. | - □ (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. - D (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-le or 17 CFR 240.17a-12, 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) ar 17 CFR 240.18a-7(d)(2), as applicable. {2}------------------------------------------------ # TRANSACT CAPITAL SECURITIES, LLC Statement of Financial Condition As of the year ended December 31, 2024 With Report of Independent Registered Public Accounting Firm {3}------------------------------------------------ | TRANSACT
CAPITAL
SECURITIES,
LLC
Table
of
Contents | | |----------------------------------------------------------------------|-------------| | | | | | ---
Page | | Report of Independent Registered Public Accounting Firm | 1 | | Financial Statement: | | | Statement of Financial Condition
Notes to Financial Statement | 2
3 | | | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ### Report of Independent Registered Public Accounting Firm To the Managing Members ### Opinion on the Financial Statement of Transact Capital Securities, LLC We have audited the accompanying statement of financial condition of Transact Capital Securities, LLC as of December 31, 2024, 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 Transact Capital Securities, LLC as of December 31, 2024, in conformity with accounting principles generally accepted in the United States of America. ### Basis for Opinion This financial statement is the responsibility of Transact Capital Securities, LLC's management. Our responsibility is to express an opinion on Transact Capital 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 Transact Capital 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 statement. 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 statement. We believe that our audit provides a reasonable basis for our opinion. ., We have served as Transact Capital Securities, LLC's auditor since 2022. Richmond, Virginia February , 2025 26 {5}------------------------------------------------ ### TRANSACT CAPITAL SECURITIES, LLC Statement of Financial Condition December 31, 2024 | December
31,
2024 | | |-------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------| | Assets | | | Cash | \$
88,606 | | Accounts receivable | 11,254 | | Prepaid expenses | 86,234 | | Due from related party | 35,803 | | Non-current assets:
Operating lease right of use asset, net
Capitalized software, net of accumulated amortization (\$20,515) | 390,144
11,068 | | Total non-current assets
Total assets | \$
401,212
623,109 | | Liabilities
and
Member's
Equity | | | Current liabilities:
Accounts payable
Accrued expenses
Operating lease liability
- current
Total current liabilities | \$
13,839
40,473
97,060
151,372 | | Operating lease liability - noncurrent | 307,518 | | Total liabilities | 458,890 | | Member's equity | 164,219 | | Total liabilities and member's equity | \$
623,109 | {6}------------------------------------------------ ### TRANSACT CAPITAL SECURITIES, LLC NOTES TO FINANCIAL STATEMENT December 31, 2024 Note 1 Organization and Nature of Business Organization Transact Capital Securities, LLC (the Company), a wholly owned subsidiary of Transact Capital Partners LLC (the Parent), was incorporated in the state of Virginia on August 3, 2003. The Company is a registered broker-dealer under the Securities Exchange Act of 1934 and a member of the Financial Industry Regulatory Authority, Inc. (FINRA) and the Securities Investor Protection Corporation (SIPC). The Company engages primarily in merger and acquisitions, advisory services, and debt and equity placements. Note 2 Summary of Significant Accounting Policies Basis of Presentation The preparation of the Companys financial statements in conformity with Accounts Receivable The Companys receivable from clients is due from clients for revenue recognized but not yet paid. An allowance for credit losses is an estimate based upon historical account write-off accounting principles generally accepted in the United States requires management to make estimates and assumptions as to reported amounts and disclosures in the financial statements. Management believes that the estimates used in preparing the financial statements are reasonable and prudent. Actual results could differ from the estimates included in the financial statements. trends, facts about the current financial condition of the debtor, forecasts of future operating results based upon current trends and macroeconomic factors. Account balances are charged off against the allowance when recovery efforts cease. Risks and Uncertainties The Company places its cash and cash equivalents on deposit with financial As of December 31, 2024, there was a \$11,254 receivable from clients due to the Company. \$10,000 of the total amount is due from a single client. There is no allowance for credit loss as of December 31, 2024. institutions in the United States. The Federal Deposit Insurance Corporation (FDIC) provides insurance coverage for up to \$250,000 for substantially all depository accounts. The Company from time to time may have amounts on deposit in excess of the insured limits. As of December 31, 2024, the Company did not have amounts in excess of the insured limits. A substantial portion of the Companys revenues may be received from a small number of transactions or concentrated within an industry. During 2024, three clients comprised 56% of total revenues. Capitalized Software Costs of internal-use software are accounted for in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 350-40, Internal Use Software. The guidance requires that development costs are expensed as they are incurred during the preliminary project stage. Once the capitalization criteria of ASC 350-40 and ASC 350-50 have been met, external direct costs of materials and services consumed in developing or obtaining internal-use software, are capitalized. Capitalized costs are amortized using the straight-line method over the softwares estimated useful life and license term. There were no additions during the year ending December 31, 2024. Leases In February 2016, the FASB issued ASC Topic 842, Leases (ASC 842), to increase transparency and comparability among organizations related to their leasing arrangements. The update requires lessees to recognize most leases on their balance sheets as a right-of-use (ROU) asset representing the right to use an underlying asset and a lease liability representing the obligation to make lease payments over {7}------------------------------------------------ TRANSACT CAPITAL SECURITIES, LLC NOTES TO FINANCIAL STATEMENT December 31, 2024 the lease term, measured on a discounted basis. ASC 842 also requires additional disclosure of key quantitative and qualitative information for leasing arrangements. The Company made an accounting policy election available under ASC 842 not to recognize ROU assets and lease liabilities for leases with a term of 12 months or less. For all other leases, ROU assets and lease liabilities are measured based on the present value of future lease payments over the lease term at the commencement date of the lease. The ROU assets also include any initial direct costs incurred and are reduced by any lease incentives. Income Taxes The Company has elected to be treated as a limited liability company for federal, state, and local income tax purposes. Accordingly, all items of income, expense, gain, and loss of the Company are generally reportable on the tax return of its Parent. Management has evaluated all tax positions that could have a significant effect on the financial statements and determined the Company did not have any uncertain income tax positions at December 31, 2024. The Company is not currently under audit by any tax jurisdiction. Note 3 Related Party Transactions Note 4 Segment Reporting The Company is engaged in a single line of business as a securities broker-dealer, which is comprised of The Company is wholly owned by and shares premises and facility expenses with the Parent. As of December 31, 2024, there was a related party receivable from Parent of \$35,803 for the expense sharing reimbursement to be repaid in the first quarter of 2025. several classes of services, including merger and acquisitions, advisory services, and debt and equity placements. The Company has identified its Managing member as the chief operating decision maker (CODM), who uses net income to evaluate the results of the business, predominantly in the forecasting process, to manage the Company. Additionally, the CODM uses excess net capital (see Note 6), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to reinvest profits or pay dividends. The Companys operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the Company as a whole. The accounting policies used to measure the profit and loss of the segment are the same as those described in the summary of significant accounting policies. Note 5 Regulatory Requirements 1. Rule 15c3-1 further requires that equity capital may not be withdrawn, or cash dividends paid if the As a registered broker-dealer, the Company is subject to the Securities and Exchange Commissions Uniform Net Capital Rule (Rule 15c3-1). Rule 15c3-1 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 resulting net capital ratio would exceed 10 to 1. In addition, certain advances, payment of dividends and other equity withdrawals are subject to certain notification provisions of Rule 15c3-1. At December 31, 2024, the Company had net capital of \$19,860 as defined under Rule 15c3-1, which exceeded the requirement net capital by \$14,860. The Companys ratio of aggregate indebtedness to net capital at December 31, 2024 was 3.46 to 1. {8}------------------------------------------------ # TRANSACT CAPITAL SECURITIES, LLC NOTES TO FINANCIAL STATEMENT December 31, 2024 Note 6 Leases The Company leases building space under an operating lease. In May 2023, the Company amended the lease to include expanded space and an extended term. The amended lease expires in September 2028 and utilizes an interest rate of 3.89%. Rentals generally include insurance, taxes and maintenance costs. As of December 31, 2024, the operating lease liability remaining is \$404,578 on the statement of financial condition. ASC 842 requires the Company to make certain assumptions and judgements in applying the guidance, including determining whether an arrangement includes a lease, determining the term of a lease when the contract has renewal or cancelation provisions, and determining the discount rate. The Company determines whether an arrangement is or includes a lease at contract inception by evaluating whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. If the Company has the right to obtain substantially all of the economic benefits from, and can direct the use of, the identified asset for a period of time, the Company accounts for the identified asset as a lease. The Company has elected the practical expedient to not separate lease and nonlease components for all leases other than real estate leases. The primary non-lease component that is combined with a lease component is operating expenses such as utilities, maintenance or management fees. As the rate implicit in the lease is not usually available, the Company used an incremental borrowing rate the present value of lease payments for existing leases. The Company elected to use a portfolio approach to available at the lease commencement date to determine the discount rate for any new leases. Future maturities of lease liabilities as of December 31, 2024 are as follows: (IBR) based on the information available at the adoption date of the new leases standard in determining IBR, applying the U.S. Treasury ten-year long-term rate to the leases. The Company will use information As of December 31, 2024, the Company does not have any leases that have not yet commenced but that create significant rights and obligations. | Year | | | |-----------------------------------|---------------|--| | 2025 | \$
111,091 | | | 2026 | 114,020 | | | 2027 | 119,265 | | | 2028 | 91,771 | | | Total lease payments | 436,147 | | | Less amount representing interest | 31,569 | | | Total lease obligations | 404,578 | | | Current portion | 97,060 | | | Long-term portion | \$
307,518 | | | | | | {9}------------------------------------------------ # TRANSACT CAPITAL SECURITIES, LLC NOTES TO FINANCIAL STATEMENT December 31, 2024 Note 7 Exemption from Rule 15c3 3 The Company is exempt from the provisions of Rule 15c3-3 under the Securities and Exchange Act of 1934. The Company does not hold customers cash or securities and therefore has no obligations under SEC Rule 15c3-3 under the Securities and Exchange Act of 1934. Note 8 Subsequent events Management has evaluated subsequent events for potential recognition and/or disclosure in the December 31, 2024 financial statements through February , 2025, the date the Companys financial statements were available to be issued. No known material subsequent events have occurred. 26 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.