# S. GOLDMAN ADVISORS, LLC X-17A-5 (2022-03-30) — Broker-dealer annual report - Company: S. GOLDMAN ADVISORS, LLC - Form: X-17A-5 - Filed: 2022-03-30 - Period: 2021-12-31 - Accession: 0001350902-22-000002 - CIK: 1350902 - File #: 8-67229 - Type: Broker-dealer - Material weakness: No - Auditor: Michael Coglianese CPA, P.C. - Auditor location: Bloomingdale, IL - Contact: Gerald Jaeger - Phone: 2124045732 - Email: gerry.jaeger@goldmanadvisors.com - Website: goldmanadvisors.com - Signed by: Sheldon Goldman (Senior Managing Director) Original filing: https://www.sec.gov/Archives/edgar/data/1350902/000135090222000002/sgoldmanadvisorsyr2021pub.pdf --- {0}------------------------------------------------ # **S. GOLDMAN ADVISORS, LLC STATEMENT OF FINANCIAL CONDITION FOR YEAR-END DECEMBER 31, 2021** *Filed in accordance with rule 17a-5(e)(3) as a PUBLIC DOCUMENT* {1}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | ANNUAL REPORTS | |----------------| | FORM X-17A-5 | | PART III | | OMB APPROVAL | |---------------------------| | OMB Number: 3235-0123 | | Expires: Oct. 31, 2023 | | Estimated average burden | | hours per response:
12 | # sec file number 8-67229 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 01/01/2021 | AND ENDING 12/31/2021 | |--|--------------------------------------------|-----------------------| |--|--------------------------------------------|-----------------------| MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION # NAME OFFIRM: S Goldman Advisors LLC TYPE OF REGISTRANT (check all applicable boxes): ള 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.) # 599 Lexington Avenue, Floor 35A | | | (No. and Street) | | | | | |--------------------------------------------------------------------------------------------|--|--------------------------------|--------------------------------------------|----------------------------------|--|--| | New York | | New York | | 10022 | | | | (City) | | (State) | | (Zip Code) | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | | Gerald Jaeger | | 212-404-5732 | | gerry.jaeger@goldmanadvisors.com | | | | (Name) | | (Area Code - Telephone Number) | (Email Address) | | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | Michael Coglianese CPA, P.C.
(Name - if individual, state last, first, and middle name) | | | | | | | | 125 E. Lake Street, Suite 303 Bloomingdale | | | Illinois 60108 | | | | | (Address) | | (City) | (State) | (Zip Code) | | | | 10/20/09 | | | 3874 | | | | | (Date of Registration with PCAOB)(if applicable) | | | (PCAOB Registration Number, if applicable) | | | | | | | FOR OFFICIAL USE ONLY | | | | | | | | | | | | | | | | | | | | | \* Claims for exemption from the requirement that the annual 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. {2}------------------------------------------------ #### OATH OR AFFIRMATION | | Sheldon Goldman | swear (or affirm) that, to the best of my knowledge and belief, the | |----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | financial report pertaining to the firm of S Goldman Advisors LLC | ______________________________________________________________________________________________________________________________________________________________________________ | | | 12/31 | 2021 , is true and correct. I further swear (or affirm) that neither the company nor any | | | | partner, officer, director, or equivalent person, as the case may be, has any account classified solely | | | as that of a customer. | | | STATE OF | New York | | | | Suffolk count
COUNTY OF | Signature: | | | SUBSCRIBED AND SWORN TO BEFORE ME | Title: | | | માં આવેલા
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_DAY OF SANGE Ch | Senior Managing Director | | | n/a Livain | | | | Notary Public NOTARY PUBLIC | SANDRA I NAIM | | | | Notary Public - State of New York | | | This filing ** contains (check all applicable boxes): | NO. 01NA6422609
Qualified in Suffolk County | | | (a) Statement of financial condition. | My Commission Expires Sep 27, 2025 | | | (b) Notes to consolidated 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). | | | | L (d) Statement of cash flows. | | | | J (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. | | | | J (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. | | | | ا | | | | ) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. | | | | | L (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.
(1) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. | | | | (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. | | | | | പ (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net | | | | worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, 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.
[ (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. | | | | _ (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. | | | | ا (s) Exemption report in accordance with 17 CFR 240.18a-7, as applicable. | | | | (t) 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 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. | | | | as applicable. | [ (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.17a-12, | | | | L (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 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable. {3}------------------------------------------------ #### **CONTENTS** | | Page | |---------------------------------------------------------|------| | REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 1 | | FINANCIAL STATEMENTS | | | Statement of Financial Condition | 2 | | Notes to the Financial Statements | 3 -6 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) # **Report of Independent Registered Public Accounting Firm** To the Member and Board of Directors of S. Goldman Advisors, LLC #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of S. Goldman Advisors, 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 S. Goldman Advisors, 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 S. Goldman Advisors, LLC's management. Our responsibility is to express an opinion on S. Goldman Advisors, 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 S. Goldman Advisors, 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 S. Goldman Advisors, LLC 's auditor since 2018. Bloomingdale, IL March 24, 2022 {5}------------------------------------------------ # **STATEMENT OF FINANCIAL CONDITION** #### **DECEMBER 31, 2021** #### **ASSETS** | Cash and cash equivalents | \$
4,076,380 | |---------------------------------------------------|-----------------| | Receivable from Clearing Broker | 35,000 | | Securities owned, at fair value | 1,228,658 | | Property and equipment | 12,811 | | Prepaid expenses and other assets | 223,173 | | Total Assets | \$
5,576,022 | | LIABILITIES AND MEMBER'S EQUITY | | | Accrued expenses and other liabilities | \$
14,079 | | Securities sold, not yet purchased, at fair value | 1,019,375 | | Income taxes payable | 300,000 | | Total Liabilities | 1,333,454 | | Member's equity | 4,242,568 | | Total Liabilities and Member's Equity | \$
5,576,022 | These financial statements and schedule are deemed confidential pursuant to subparagraph (e)(3) of Rule 17a-5 of the Securities Exchange Act. The accompanying notes are an integral part of these financial statements. {6}------------------------------------------------ # **NOTES TO THE FINANCIAL STATEMENTS** # **DECEMBER 31, 2021** #### **1. ORGANIZATION AND NATURE OF BUSINESS** S. Goldman Advisors, LLC ("SGA"), a single member limited liability company formed under Delaware law, is a broker-dealer registered with the Securities and Exchange Commission (the "SEC"). SGA is also a member of the Financial Industry Regulatory Authority ("FINRA"). SGA provides investment banking and financial advisory services principally related to mergers and acquisitions, restructurings and public offerings and private placements of debt and equity. In 2021, SGA expanded its business to operate as an introducing broker for which it earns commissions, and trade for its own account, by acquiring these business lines from S Goldman Capital LLC ("SGC") via a continuing membership application ("CMA") with FINRA. Concurrent with this transaction, SGC voluntarily withdrew its broker dealer registration in 2021. The Goldman Group LLC ("Goldman Group"), a single member limited liability company formed under Delaware law, is the sole owner of SGA. SGA is the sole owner of SGC. SGA is taxed as C Corporation for Federal and State purposes. # **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** #### **a) Revenue Recognition** Revenue comes from fees earned from financial advisory services, including mergers and acquisitions, private and public debt and equity offerings and restructurings. Revenue also comes from firm commitment underwritings of public equity and debt offerings. Revenue is recorded when the underlying transaction is completed and the income is reasonably determinable. During 2021, 100% of revenues received were from three clients. Revenues are recognized when control of the promised services is transferred to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services upon satisfaction of the performance obligation ## b) **Income Taxes** SGA is taxed as a C Corporation for Federal and State income tax purposes. The financial statements include a provision for income taxes of \$300,000 for the year ended December 31, 2021. *These financial statements and schedules are deemed confidential pursuant to subparagraph (e)(3) of Rule 17a-5 of the Securities Exchange Act* {7}------------------------------------------------ # **NOTES TO THE FINANCIAL STATEMENTS (cont'd)** #### **DECEMBER 31, 2021** #### **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont'd)** SGA recognizes deferred tax assets or liabilities for the future tax consequences of events that have been recognized differently in their financial statements and tax returns. The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. SGA prepares its tax returns on a cash basis. Accordingly, SGA records deferred tax assets or liabilities for the increase or decrease in future years' tax liabilities related to the temporary differences which arise by utilizing these two accounting methods. Deferred taxes are primarily attributable to prepaid expenses and accrued expenses for financial statement purposes. In accordance with ASC 740, Income Taxes, SGA is required to disclose unrecognized tax benefits resulting from uncertain tax positions. The Company operates in the United States of America and in state and local jurisdictions. At December 31, 2021, SGA did not have any unrecognized tax benefits or liabilities. There are presently no ongoing income tax examinations. ## **c) Cash Equivalents** Cash equivalents are money market funds and other highly liquid financial instruments with an original maturity of less than three months. #### **d) Property and Equipment** Property and equipment are stated at cost. Depreciation is computed by straight-line and accelerated methods over the estimated useful lives of the assets. Leasehold improvements are amortized over the estimated useful lives of the assets. #### **e) 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 certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. #### **f) Concentration of Credit Risk** SGA maintains cash in bank deposit accounts which, at times, may exceed federally insured limits. SGA has not experienced any losses in such accounts and does not believe it is exposed to any unusual credit risk on these funds. {8}------------------------------------------------ # **NOTES TO THE FINANCIAL STATEMENTS (cont'd)** # **DECEMBER 31, 2021** # **3. PROPERTY AND EQUIPMENT** Property and equipment consisted of the following at December 31, 2021: | Furniture and fixtures | \$
247,272 | |--------------------------------|---------------| | Equipment | 89,909 | | Leasehold improvements | 261,469 | | | 598,650 | | Less: accumulated depreciation | 585,838 | | | \$
12,812 | Depreciation amounted to \$5,508 in 2021. # **4. RELATED PARTY TRANSACTIONS** During 2021, SGA received \$1,750,000 from SGC for advisory services and paid \$95,654 for insurance from Armonia Insurance Co. ("Armonia'), an affiliated entity. SGA also paid \$75,000 to Goldman Group for services performed, and further paid \$600,499 to Aurora Capital Management LLC ("ACM") for asset management and other advisory services. # **5. NET CAPITAL REQUIREMENT** SGA is subject to the SEC Uniform Net Capital Rule 15c3-1 which requires the maintenance of minimum net capital, as defined, which is the greater of \$100,000 or the minimum net capital required based on aggregate indebtedness. At December 31, 2021, SGA's net capital was \$3,507,019 which was \$3,407,019 in excess of its required net capital of \$100,000. SGA's ratio of aggregate indebtedness to net capital was .09 to 1. #### **6. Paycheck Protection Program** SGA applied for and received forgiveness on the two loans received under the Federal Paycheck Protection Program ("PPP"), a program established by the Coronavirus Aid, Relief and Economic Security (CARES) Act. The loans, taken through JP Morgan Chase Bank, were forgiven in March, 2021 (Loan amount of \$83,333 taken in April, 2020) and November, 2021 (loan amount of \$95,915 taken in May, 2021) respectively. *These financial statements and schedules are deemed confidential pursuant to subparagraph (e)(3) of Rule 17a-5 of the Securities Exchange Act* {9}------------------------------------------------ # **NOTES TO THE FINANCIAL STATEMENTS (cont'd)** ### **DECEMBER 31, 2021** #### **7. COMMITMENTS AND CONTINGENCIES** SGA has a sublease agreement with Goldman Group on a month to month basis. The current monthly payment is \$23,744 plus escalations. Rent expense totaling approximately \$192,824 is charged to the financial statements for the year ended December 31, 2021. # **8. PENSION PLANS- 401(K) PLAN** SGA provides a qualified 401(k) defined contribution plan covering substantially all fulltime employees who have met certain age and length of service requirements. Eligible employees may elect to contribute a percentage of their salary up to a specified maximum. SGA's voluntary contribution will vary depending on the profitability of SGA. SGA's voluntary contributions amounted to \$73,500 in 2021. #### **9. SUBSEQUENT EVENTS** These financial statements were approved by management and available for issuance on the date of the Independent Registered Public Accounting Firm Report. Subsequent events have been evaluated through this date. There were no subsequent events requiring disclosures or adjustments. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.