# PTP SECURITIES, LLC X-17A-5 (2025-03-03) — Broker-dealer annual report - Company: PTP SECURITIES, LLC - Form: X-17A-5 - Filed: 2025-03-03 - Period: 2024-12-31 - Accession: 0001337053-25-000002 - CIK: 1337053 - File #: 8-67059 - Type: Broker-dealer - Material weakness: No - Auditor: Wolf & Co., PC - Auditor location: Springfield, MA - Contact: Attilio Albani - Phone: 203-252-3146 - Email: aalbani@pinnacletrustpartners.com - Website: pinnacletrustpartners.com - Signed by: Attilio A. Albani, Jr. (Managing Partner) Original filing: https://www.sec.gov/Archives/edgar/data/1337053/000133705325000002/PTP_LLC_2024_FS_PUBLIC_FINAL.pdf --- {0}------------------------------------------------ # PTP SECURITIES, LLC # Audited Financial Statements and Supplemental Schedules Including Independent Registered Auditor's Report For the Year-Ended December 31, 2024 {1}------------------------------------------------ # PTP SECURITIES, LLC FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2024 #### TABLE OF CONTENTS | PTP SECURITIES, LLC
FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2024 | | |---------------------------------------------------------------------------------------------------------------------|---------| | TABLE OF CONTENTS | | | | PAGE | | Facing Page/Oath or Affirmation | 1 - 2 | | Report of Independent Registered Public Accounting Firm | 3 - 4 | | Financial Statements | | | Statement of Financial Condition | 5 | | Statement of Operations | 6 | | Statement of Changes in Member's Equity | 7 | | Statement of Cash Flows | 8 | | Notes to Financial Statements | 9 - 13 | | Supplemental Information | | | Computation of Net Capital Pursuant to Uniform
Net Capital Rule 15c3-1 of the Securities and Exchange Commission | 14 | | Report of Independent Registered Public Accounting Firm | 15 - 16 | | Exemption Report | 17 | {2}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington,** D.C. **20549** > **ANNUAL REPORTS FORM X-17A-S PART** Ill 0MB APPROVAL 0MB Number: 3235-0123 E,cplres: Nov. 30, 2026 Estimated **average** burden hours per response: 12 SEC FILE NUMBER | | FACING PAGE | | | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|-----------------------------------------|--------------------------------------------| | Information Required Pursuant to Rules 17a-S, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | | | | | FILING FOR THE PERIOD BEGINNING O 1/01 /24 | | AND ENDING 12/31 /24 | | | | MM/00/YY | | MM/00/YY | | | A. REGISTRANT IDENTIFICATION | | | | NAME oF FIRM: PTP
Securities | LLC
, | | | | TYPE OF REGISTRANT (check all applicable boxes):
i:!:I
Broker-dealer
D Check here if respondent is also an OTC derivatives dealer | □ Security-based swap dealer | □ Major security-based swap participant | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | Cherry
Brook
604 | Rd | | | | | (No. and Street) | | | | Canton | CT | | 06019 | | (City) | (State) | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | Attilio
A
Albani
Jr | 203-252-3146 | | aalbani@pinnacletrustpartners.com | | (Name) | (Area Code -Telephone Number) | (Email Address) | | | | B. ACCOUNTANT IDENTIFICATION | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
Co
PC
Wolf
&
., | (Name - If Individual, state last, first, and middle name) | | | | Street
1500
Main | Springfield | MA | 01115 | | (Address) | (City) | (State) | (Zip Code) | | October
14
2003
, | | 392 | | | (Date of Registration with PCAOB)(lf applicable) | | | (PCAOB Registration Number, 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)(1)(11), If applicable. Persons who are to respond to the collectlon of Information contained In this form are not required to respond unless the form di splays a currently valld 0MB control number. {3}------------------------------------------------ | OATH OR AFFIRMATION | | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | 1, Attilio A. Albani, Jr.
financial report pertaining to the firm of PTP Securities, LLC
12/31
2 024 | • swear (or affirm) that, to the best of my knowledge and belief, the
as of
Is true and correct. I further swear (or affirm) that neither the company nor any | | partner, officer, director, or equivalent perso~. as the case may be, has any proprletar | terest In any account classified solely | | as that of a customer.
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This,f!ling•• contains (check all applicable boxes):
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(a) Statement of financial condition.
✓

@ (b)-Notesto consolidated statement of financial condition.
~ (c}1"taterl1!flt 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).
ii (d) Statement of-cash flows.
ii {e) State~e_nt-of changes in stockholders' or partners' or sole proprietor's equity.
D (ff Statement of changes in liabilities subordinated to claims of creditors.
ii (g) Notes to consolidated financial statements.
ii (h) Computation of net capital under 17
D
(i) Computation of tangible net worth under 17 CFR 240. lSa-2. | CFR 240.15c3-l or 17 CFR 240.18a-l, as applicable. | | ii 0) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17
D
Exhibit A to 17 CFR 240.lSa-4, as applicable.
D
(I) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. | 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 | | ii (m) Information relating to possession or control requirements for customers under 17
□ (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. | CFR 240.15c3-3. | | ii
exist. | (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net
worth under 17 CFR 240.15c3-1, 17 CFR 240.lSa-1, or 17 CFR 240.lSa-2, as applicable, and the reserve requirements under 17
CFR 240.15c3-3 or 17 CFR 240.lSa-4, as applicable, if material differences exist, or a statement that no material differences | | | | - □ (p) Summary of financial data for subsidiaries 'not consolidated in the statement of financial condition. - Iii (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.lSa-7, as applicable. - □ {r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - ii (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.lSa-7, as applicable. - □ (t) Independent public accountant's report based on an examination of the statement of financial condition. - ii (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.lSa-7, or 17 CFR 240.17a-12, as applicable. - D (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.lSa-7, as applicable. - ii (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-s or 17 CFR 240.lSa-7, as applicable. - D (x) Supplemental reports on applying agreed-upon.procedures, in accordance with 17 CFR 240.15c3-1e 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-S(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable. {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) # Report of Independent Registered Public Accounting Firm To the Member of PTP Securities, LLC: ### *Opinion on the Financial Statements* We have audited the accompanying statement of financial condition of PTP Securities, LLC (the "Company") as of December 31, 2024, and the related statements of operations and changes in member's equity and cash flows for the year then ended, and the related notes (collectively, referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024, 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 the Company's management. Our responsibility is to express an opinion on the Company'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 the Company 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. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion Our audit included performing procedures to assess the risk 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. {5}------------------------------------------------ #### *Supplementary Information* The Computation of Net Capital Pursuant to Rule 15c3-1 ("supplemental information") has been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. The supplemental information is the responsibility of the Company'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. § 240.17a-5. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole. We have served as the Company's auditor since 2016. Boston, Massachusetts February 27, 2024 {6}------------------------------------------------ #### PTP SECURITIES, LLC STATEMENT OF FINANCIAL CONDITION AS OF DECEMBER 31, 2024 #### ASSETS | PTP SECURITIES, LLC
STATEMENT OF FINANCIAL CONDITION
AS OF DECEMBER 31, 2024 | | | |------------------------------------------------------------------------------------|---------------|--| | ASSETS | | | | Assets | | | | Cash | \$
265,064 | | | Accounts receivable | 5,064,754 | | | Due from affiliate | 3,660 | | | Prepaid expenses | 8,652 | | | TOTAL ASSETS | 5,342,130 | | | LIABILITIES AND MEMBER'S EQUITY | | | | Liabilities | | | | Accounts payable and accrued expenses | 4,399 | | | TOTAL LIABILITIES | 4,399 | | | Member's Equity | | | | Member's equity | 5,337,731 | | | TOTAL LIABILITIES AND MEMBER'S EQUITY | \$ 5,342,130 | | | | | | | | | | {7}------------------------------------------------ # PTP SECURITIES, LLC STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 2024 | PTP SECURITIES, LLC | | |--------------------------------------|-----------------| | STATEMENT OF OPERATIONS | | | FOR THE YEAR ENDED DECEMBER 31, 2024 | | | | | | REVENUE: | | | Success fees | \$
2,916,822 | | Fee income | 120,000 | | TOTAL REVENUE | 3,036,822 | | EXPENSES: | | | Employee compensation and benefits | 1,544,028 | | Professional fees | 138,755 | | Occupancy | 2,879 | | Office and other expenses | 64,380 | | Regulatory Fees | 42,022 | | Communication and data processing | 5,674 | | Travel | 67,316 | | TOTAL EXPENSES | 1,865,054 | | OTHER INCOME OR (LOSS) | | | Interest income | 138,319 | | TOTAL OTHER INCOME OR (LOSS) | 138,319 | | | | | NET INCOME | \$
1,310,087 | | | | {8}------------------------------------------------ # PTP SECURITIES, LLC STATEMENT OF CHANGES IN MEMBER'S EQUITY FOR THE YEAR ENDED DECEMBER 31, 2024 | PTP SECURITIES, LLC
STATEMENT OF CHANGES IN MEMBER'S EQUITY
FOR THE YEAR ENDED DECEMBER 31, 2024 | | | |--------------------------------------------------------------------------------------------------------|-----------------|--| | Balance, December 31, 2023 | \$
8,133,887 | | | Distributions | (4,106,243) | | | Net income | 1,310,087 | | | Balance, December 31, 2024 | \$
5,337,731 | | | | | | | | | | {9}------------------------------------------------ ### PTP SECURITIES, LLC STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2024 #### Cash flows from operating activities: | PTP SECURITIES, LLC
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024 | | |-----------------------------------------------------------------------------------------|--------------------| | Cash flows from operating activities: | | | Net income | \$
1,310,087 | | Adjustments to reconcile net income to net cash
provided by operating activities: | | | Changes in operating assets and liabilities:
Accounts receivable
Prepaid expenses | 1,744,653
1,821 | | Security deposit
Accounts payable and accrued expenses | 375
(197,452) | | Net cash provided by operating activities | 2,859,484 | | Cashflows from financing activities: | | | Member distribution | (4,106,243) | | Net cash used in financing activities | (4,106,243) | | Net change in cash | (1,246,759) | | Cash at December 31, 2023 | 1,511,823 | | Cash at December, 31, 2024 | \$
265,064 | {10}------------------------------------------------ # NOTE 1. ORGANIZATION AND NATURE OF BUSINESS PTP Securities, LLC (the "Company") is incorporated in the state of Connecticut. The Company is headquartered in Stamford, Connecticut. The Company is a registered broker-dealer with the Securities and Exchange Commission ("SEC") and a member of the Financial Industry Regulatory Authority ("FINRA"). The Company specializes in private placements to institutional investors in the United States and Canada. # NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES # Revenue recognition Revenue from contracts with customers includes private placement fee revenue, retainer fees and reimbursed expenses. The recognition and measurement of revenue is based on the assessment of individual contract terms. Significant judgement is required to determine whether performance obligations are satisfied at a point in time or over time; how to allocate transaction prices where multiple performance obligations are identified; when to recognize revenue based on the appropriate measure of the Company's progress under contract; and whether constraints on variable consideration should be applied due to uncertain future events. The Company provides advisory services on private placement deals. Revenue for advisory arrangements (success fees) is generally recognized at the point in time that performance under the arrangement is completed or the contract is cancelled. The Company recognizes fees when investors are accepted in a private placement and the private placement fund accepts the investors commitment. The private placement fee revenue is a variable consideration and the constraints are evaluated for each individual contract. However, for certain contracts, revenue is recognized over time for advisory arrangements in which the performance obligations are simultaneously provided by the Company and consumed by the customer (fee income). In some circumstances, significant judgement is needed to determine the timing and measure of the progress appropriate for the revenue recognition under a specific contract. Retainers and other fees received from the customers prior to recognizing revenue are reflected as deferred revenue. There was no deferred revenue as of December 31, 2024. # Cash and Cash Equivalents The Company considers all instruments with an original maturity of three months or less when purchased to be cash equivalents. {11}------------------------------------------------ # NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) # Accounts Receivable Effective January 1, 2023, the Company adopted Accounting Standard Codification ("ASC") Topic 326, Financial Instruments - Credit Losses ("ASC 326"). ASC 326 impacts the impairment model for certain financial assets measured at amortized cost by requiring a current expected credit loss ("CECL") methodology to estimate expected credit losses over the entire life of the financial asset, recorded at inception or purchase. Under the accounting update, the Company has the ability to determine there are no expected credit losses in certain circumstances. ASC 326 specifies that the Company adopt the new guidance prospectively by means of cumulative-effect adjustment to the opening retained earnings as of the beginning of the first reporting period effective. The company believes there was no impact to opening member's equity upon adoption. Accounts receivable consists of private placement fee revenue earned from closed transactions due under normal trade terms. Interest income is recorded based on the terms of the agreement. The allowance for credit losses is based on the Company's expectation of the collectability of financial instruments carried at amortized cost, including fees receivable utilizing the CECL framework. The Company individually evaluates accounts receivable for collectability once it becomes past due and would record a reserve if required. Management does not believe that an allowance is required as of December 31, 2024. # Use of Estimates Management uses estimates and assumptions in preparing financial statements in accordance with accounting principles generally accepted in the United States of America. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities and related revenue and expenses. Actual results could vary from the estimates that were assumed in preparing the financial statements. # Property and equipment Property and other office equipment are stated at cost. Depreciation is calculated on the straight-line method over the estimated useful lives of the related assets (three years for equipment and furniture and thirty-nine years for leasehold improvements). Normal repair and maintenance costs are expensed as incurred. Depreciation expense for the year ended December 31, 2024, was \$0. {12}------------------------------------------------ #### NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) #### Concentration of credit risk The Company maintains its cash in bank deposit accounts which, at times, may exceed federally insured limits. Accounts are guaranteed by the Federal Deposit Insurance Corporation (FDIC) up to \$250,000. At December 31, 2024, the Company had \$15,064 in excess of FDIC insured limits. The Company has not experienced any losses in such accounts. #### NOTE 3. NET CAPITAL REQUIREMENTS The Company is subject to the SEC uniform Net Capital Rule (SEC Rule 15c3-1), 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. The rule also provides that equity capital may not be withdrawn, or cash dividends paid if the resulting ratio would exceed 10 to 1. The Company's net capital computed under 15c3-1 was \$260,665 at December 31, 2024, which exceeds required net capital of \$5,000 by \$255,665. The ratio of aggregate indebtedness to net capital at December 31, 2024 was 0.02 to 1.0. #### NOTE 4. INCOME TAXES A limited liability company is treated as a partnership for both federal and state income tax purposes. The Company files a consolidated tax return on a cash basis with Pinnacle Trust Partners, LLC, and its sole member. Therefore, no provision or liability for federal or state income taxes are required in these financial statements. ASC 740 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. ASC 740 requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Company's tax returns to determine whether the tax positions are "more-likely-than-not" of being sustained by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax benefit or expense in the current year. The tax years that remain subject to examination are 2021 - 2024. The Company determined that there are no uncertain tax positions which would require adjustments or disclosures on the financial statements. The Company records interest and penalties as part of office and other expenses. No interest or penalties were recorded for the year ended December 31, 2024. #### NOTE 5. PENSION AND PROFIT-SHARING PLANS The Company sponsors a defined contribution 401k profit sharing plan that covers substantially all of its employees. Company matching contributions are made at the discretion of the member of the Company and are not to exceed 3% of the total compensation paid to eligible participants. In addition to this contribution there is a discretionary profit- sharing contribution. Contributions made to the plan for the year ended December 31, 2024, was \$90,108. {13}------------------------------------------------ #### NOTE 6. CONCENTRATIONS IN SALES TO CUSTOMERS During the year ended December 31, 2024, four customers accounted for over 86% of total revenues. #### NOTE 7. COMMITMENTS-LEASES The Company accounts for leases in accordance with Accounting Standards Update ("ASU") 2016-02, Leases (Topic 842). The ASU requires operating leases be included as Right-of-use ("ROU") assets and lease liabilities recorded in the statement of financial condition. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company determines if an arrangement is a lease at inception. As leases do not provide an implicit rate, the company uses an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company may use an incremental borrowing rate which approximates the U.S. Treasury rate. The company's lease terms may include options to extend or terminate the lease when it is reasonably certain that the company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company may have lease agreements with lease and non-lease components, which are generally accounted for separately. The Company does not elect the practical expedient to account for lease and non-lease components as one lease component, depending on the nature of its lease agreement. There are no leases accounted for under ASC 842 as of December 31, 2024. The Company entered a one-year lease at 664 Prospect Avenue, Hartford, Connecticut, on April 1, 2023, the commencement of the lease. The Company paid the entire lease obligation on May 18, 2023. The balance of prepaid rent is \$0 as of December 31, 2024. #### NOTE 8. RELATED PARTY TRANSACTIONS Due from affiliate of \$3,660 represents non- interest bearing, unsecured advances from the Company's single member parent company, Pinnacle Trust Partners, LLC. ("PTP LLC") The advances have no stated term and consist of payments of certain life insurance policies owned by PTP LLC. #### NOTE 9. SINGLE REPORTABLE SEGMENT {14}------------------------------------------------ The Company is engaged in a single line of business as a securities broker-dealer, which is comprised of several classes of services, including investment banking. The Company has identified its Chief Executive Officer, Attilio Albani, 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 3), 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 distributions. The Company's 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. The company derived 86 percent of its total revenues from a four external customer in 2024. {15}------------------------------------------------ # PTP SECURITIES, LLC COMPUTATION AND RECONCILIATION OF NET CAPITAL UNDER RULE 15c3-1 OF THE SECURITIES AND EXCHANGE COMMISSION FOR THE YEAR ENDED DECEMBER 31, 2024 | PTP SECURITIES, LLC
COMPUTATION AND RECONCILIATION OF NET CAPITAL UNDER
RULE 15c3-1 OF THE SECURITIES AND EXCHANGE COMMISSION
FOR THE YEAR ENDED DECEMBER 31, 2024 | | | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------|--| | Computation of basic net capital requirements: | | | | Total member's equity | \$ 5,337,731 | | | Deductions and/or charges: | | | | Non-allowable assets | 5,077,066 | | | Net capital | \$
260,665 | | | Minimum net capital requirements: | | | | 6 2/3% of total aggregate indebtedness (4,399) | 293 | | | Minimum dollar net capital requirement for this broker-dealer | 5,000 | | | Net capital requirement (greater of above two requirements) | 5,000 | | | Net capital in excess (deficiency) of required minimum | \$
255,665 | | | | | | There are no material differences between the above computation of net capital and the Company's computation as reported in the unaudited Part II of Fom X-17A-5 as of December 31, 2024 The Company does not claim an exemption under paragraph (k) of 17 C.F.R. § 240.15C3-3 and files an Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5, due to the nature of the Company's business activities. {16}------------------------------------------------ ![](_page_16_Picture_0.jpeg) # **Report of Independent Registered Public Accounting Firm** To the Member of PTP Securities, LLC: We have reviewed management's statements, included in the accompanying Exemption Report, in which PTP Securities, LLC (the Company) stated that: - 1. The Company does not claim an exemption under paragraph (k) of 17 C.F.R. § 240.15c3-3; - 2. The Company is filing an Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 because the Company limits its business activities exclusively to: (1) private placement arrangements throughout the most recent fiscal year; and - 3. The Company (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers (other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of 17 C.F.R. § 240.15c2-4 and/or funds received and promptly transmitted for effecting transactions via subscriptions on a subscription-way basis where the funds are payable to the issuer or its agent and not to the Company); (2) did not carry accounts of or for customers; and (3) did not carry proprietary accounts of broker-dealers (as defined in 17 C.F.R. § 240.15c3-3) throughout the most recent fiscal year without exception. The Company's management is responsible for 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 that the Company limited its business activities exclusively to: (1) private placement arrangements; and (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers (other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of 17 C.F.R. § 240.15c2-4 and/or funds received and promptly transmitted for effecting transactions via subscriptions on a subscription-way basis where the funds are payable to the issuer or its agent and not to the Company); (2) did not carry accounts of or for customers; and (3) did not carry proprietary accounts of broker-dealers (as defined in 17 C.F.R. § 240.15c3-3) throughout the most recent fiscal year without exception. {17}------------------------------------------------ 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 17 C.F.R. § 240.17a-5. Boston, Massachusetts February 27, 2024 {18}------------------------------------------------ - - - Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.