# FT GLOBAL CAPITAL, INC. X-17A-5 (2020-02-28) — Broker-dealer annual report
- Company: FT GLOBAL CAPITAL, INC.
- Form: X-17A-5
- Filed: 2020-02-28
- Period: 2019-12-31
- Accession: 0001368630-20-000001
- CIK: 1368630
- File #: 8-67375
- Material weakness: No
- Auditor: Rubio CPA, PC
- Auditor location: Atlanta, GA
- Contact: Patrick Ko
- Phone: 770-350-2698
- Signed by: Jian Ke (CEO)
Original filing: https://www.sec.gov/Archives/edgar/data/1368630/000136863020000001/ftgshrt.pdf
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UNITED STATES SECURITIESANDEXCHANGECOMMISSION Washington, D.C. 20549
OMS APPROVAL OMB Number: 3235·0123 Expires: August 31, 2020 Estimated average burden hours per response ...... 12.00
SEC FILE NUMBER
s-67375
## **ANNUAL AUDITED REPORT FORM X-17A-5 PART Ill**
FACING PAGE
Information Required of Brokers and Dealers Pursuant to Section 17 of the · Securities Exchange Act of 1934 and Rule 17a-5 Thereunde1·
| | REPORT FOR THE PERIOD BEGINNING 01/01/2019
AND ENDING 12/31/2019 | | | |
|---------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------|---------------|------------------------------------------------|--|
| | MM/DD/YY | | ----------------------------------
MM/DD/YY | |
| | A. REGISTRANT IDENTIFICATION | | | |
| NAME OF BROKER-DEALER: FT GLOBAL CAPITAL, INC.
ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) | | | OFFICIAL USE ONLY
FIRM 1.0. NO. | |
| | | | | |
| 5 Concourse Parkway, Suite 3000 | | | | |
| | (No. and Street) | | | |
| Atlanta | GA | | 30328 | |
| (City) | (State) | (Zip Code) | | |
| NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS REPORT
PATRICKKO | | | (770) 350-2698 | |
| | B. ACCOUNTANT IDENTIFICATION | | (Area Code-Telephone Number) | |
| | | | | |
| RUBIO CPA, PC | | | | |
| 2727 Paces Ferry Rd SE, Suite 2-1680 ATLANTA | (Name - if individual, state last, first, middle name) | | | |
| INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report*
(Address) | (City) | GA
(State) | 30339
(Zip Code) | |
*\*Claims for exemption from the requirement that the annual report be covered by the opinion of an independent public accountant must be supported by a statement of facts and circumstances 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 (06-02)
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#### **OATH OR AFFIRMATION**
| I, JIAN KE | , swear (or affirm) that, to the best of |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| my knowledge and belief the accompanying fmancial statement and supporting schedules pertaining to the firm of
FT GLOBAL CAPITAL, INC. | |
| --~~~----------------------------------------------------------------------------
of DECEMBER 31 | 'as
are true and correct. 1 further swear (or affirm) that |
| classified solely as that of a customer·, except as follows: | neither the company nor any partner, proprietor, principal officer or director has any proprietary interest in any account |
| | |
| ~
K-n'vt-'
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Notary
Public
This report** contains (check all applicable boxes):
0 (a) Facing Page .
./ (b) Statement of Financial Condition.
(c) Statement oflncome (Loss). | |
| (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.
Computation for Determination of the Reserve Requirements Under Exhibit A of Rule 15c3-3.
consolidation.
§ (I) An Oath or Affirmation.
(m) A copy of the SIPC Supplemental Report. | 0 (j) A Reconciliation, including appropriate explanation of the Computation ofNet Capital Under Rule 15c3-l and the
0 (k) A Reconciliation between the audited and unaudited Statements of Financial Condition with respect to methods of
(n) A report describing any material inadequacies found to exist or found to have existed since the date ofthe previous audit. |
| •• For conditions of confidential treatment of certain portions of this filing, see section 240.1 7a-5(e)(3). | |
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# **FT GLOBAL CAPITAL, INC.**
Financial Statements !For the Fiscal Year End December 31, 2019 With Report of Independent Registered Public Accounting Firm
**PUBLIC DOCUMENT**
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**RUBIO CPA, PC** CERTIFIED PUBLIC ACCOUNTANTS
2727 Paces Ferry Road SE Building 2, Suite 1680 Atlanta, GA 30339 Office: 7 70 690-8995 Fax: 770 838-7123
### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**
To the Stockholder of FT Global Capital, Inc.
#### Opinion ofthe Financial Statements
We have audited the accompanying statement of financial condition FT Global Capital, 1nc. (the "Company") as of December 31, 2019, and the related notes. In our opinion, the aforementioned financial statement presents fairly, in all material respects, the financial position of the Company as of December 31, 2019, in conform ity with accounting principles generally accepted in the United States of America.
### Basis of 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 Oversjght 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 statement is 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 audits we are required to obtain an understanding of the 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 risks of material misstatement to tlhe 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 beEieve that our audit provides a reasonable basis for our opinion.
We have served as the Company's auditor since 2014.
February 28, 2020 Atlanta, Georgia
Rubio CPA, PC
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### **FT Global Capital, Inc. Statement of Financial Condition December 31, 20·19**
#### Assets
| Cash
Accounts receivable
Retirement Plan Assets at Fair Value
Due from related parties
Prepaid expenses and deposits
Right-of-use-asset
Property and equipment, net of accumulated depreciation of \$3,744 | \$
353,637
46,000
363,070
3,349
14,128
19,381 |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------|
| Total assets | \$
799 565 |
| Liabilites and Stockholder's Equity | |
| Liabilities | |
| Accounts payable | \$
13,780 |
| Accrued retirement plan contribution | 48,540 |
| Present Value of Vested Benefits in Retirement Plan | 338,250 |
| Lease liability | 19,381 |
| Total liabilities | 419,951 |
| Stockholder's Equity | 379,614 |
| Total liabilities and stockholder's equity | \$
799,565 |
See accompanying notes
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### **FT GLOBAL CAPITAL, INC. NOTES TO FINANCIAL STATEMENTS December 31 , 2019**
### **NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**
Organization and Description of Business: FT Global Capital, Inc. (the "Company"), a Georgia corporation, was organized in May 2006 and became a broker-dealer in January 2007. The Company is a securities broker-dealer registered with the Securities and Exchange Commission ("SEC") and the Financial Industry Regulatory Authority ("FINRA").
Cash: The Company maintains its demand bank accounts in high a credit quality financial institutions. Balances at times may exceed federally insured limits.
Property and Equipment: Property and equipment are recorded at cost. Depreciation is provided by use of straight-line methods over the estimated useful lives of the respective assets. Maintenance and repairs are charged to expense as incurred; major renewals and betterments are capitalized. When items of property or equipment are sold or retired, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is included in the results of operations.
Income Taxes: The Company has elected S corporation status. Income or losses of the Company flow through to the stockholder and no income taxes are recorded in the accompanying financial statements.
The Company has adopted the provisions FASB ASC 740-10, Accounting for Uncertainty in Income Taxes. Under FASB ASC 740-10, the Company is required to evaluate each of its tax positions to determine if they are more likely than not to be sustained if the taxing authority examines the respective position. A tax position includes an entity's status, including its status as a p·ass-through entity, and the decision not to file a return. The Company has evaluated each of its tax positions and has determined that no provision or liability for income taxes is necessary.
Estimates: Management uses estimates and assumptions in preparing financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses. Actual results could vary from the estimates that were assumed in preparing the financial statements.
Accounts Receivable: The Company uses the allowance method to account for uncollectible accounts receivable. Management continually monitors the collectability of its customer accounts; when indications arise that an amount is not likely to be collected, it is charged to the allowance for doubtful accounts. Accounts are considered past due when they are 30 days old.
Revenue Recognition: Investment banking revenue includes fees earned from providing merger and acquisition and other advisory services to clients. Revenue is recognized when earned, which generally occurs as services are performed or upon consummation of a transaction. Placement fees are recognized in accordance with terms agreed upon with each client and are generally based on a percentage of capital raised.
Revenue from Contracts with Customers Standard (ASU 2014-09) core principle is that an entity should recognize revenue when it transfers 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. ASU 2014-09 prescribes a fivestep process to accomplish this core principle, including:
- · Identification of the contract with the customer;
- · Identification of the performance obligation(s) under the contract;
- · Determination of transaction price;
- · Allocation of the transaction price to the identified performance obligation(s); and
- · Recognition of revenue as (or when) an entity satisfies the identified performance obligation(s).
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### **FT GLOBAL CAPITAL, INC. NOTES TO FINANCIAL STATEMENTS December 31 , 2019**
### **NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)**
#### Revenue Recognition (continued):
The Company recognizes success fee revenue upon completion of a success fee-based transaction as this satisfies the only performance obligation identified in accordance with this standard.
Date of Management's Review: Subsequent events were evaluated through the date the financial statements were issued
### **NOTE 2 -** INET **CAPITAL**
The Company, as a registered broker dealer, is subject to the Securities and Exchange Commission Uniform Net Capital Rule (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. At December 31, 2019, the Company had net capital of \$291 ,318 which was \$286,318 in excess of its required net capital of \$5,000 and its ratio of aggregate indebtedness to net capital was .21 to 1.
### **NOTE 3 - ILEASE COMMITMENT AND RELATED PARTIES**
The Company leases office space from a related party under a non-cancelable operating lease expiring in December of 2020. The Company recognizes and measures its leases in accordance with FASB ASC 842, Leases. The Company recognizes the lease liability and a right of use asset (ROU) on its balance sheet by recognizing the lease liability based on the present value of its future lease payments. The Company uses an incremental borrowing rate based on what it would approximately have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms and in a similar economic environment. The ROU asset is subsequently measured throughout the lease term at the amount of the remeasured lease liability (present value of the remaining lease payments).
Maturities of lease liabilities under noncancelable office operating lease are as follows:
| Year Ending December 31, | |
|--------------------------|--------|
| 2020 | 20,028 |
| Total | \$
20,028 | |
|-----------------------------------|--------------|--------------|
| Total undiscounted lease payments | | \$
20,028 |
| Less inputed interest | | (647) |
| | | |
# Total lease liability \$ 19,381
### **NOTE 4 - CONTINGENCIES**
The Company is subject to litigation in the normal course of business. The Company has no litigation in progress at December 31 , 2019.
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EXEMPTION REPORT SEA RULE 17a-S(d)(4)
February 19, 2020
RUBIO CPA, PC 900 Circle 75 Parkway Suite 1100 Atlanta, Georgia 30339
To Whom it May Concern:
The below information is designed to meet the Exemption Report criteria pursuant to SEC Rule 17a-5(d)(4):
FT Global Capital, Inc. is a broker/dealer registered with the SEC and FINRA. Pursuant to paragraph k(2)(i) of SEA Rule 15c3-3, the Company is claiming an exemption from SEA Rule 15c3-3 for the fiscal year ended December 31, 2019.
The Company has met the identified exemption provisions throughout the most recent fiscal year without exception.
The above statemen1 i~drue-(nd corr to the best of my and the Company's knowledge.
, Name: Patrick Ko
Title: CEO
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# **RUBIO CPA, PC** CERTIFIED PUBLIC ACCOUNTANTS
2727 Paces Ferry Road SE Building 2, Suite 1680 Atlanta, GA 30339 Office: 770 690-8995 Fax: 770 838-7123
### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**
To the Shareholder of FT Global Capital, Inc.
We have reviewed management's statements, inc luded in the accompanying Broker Dealers Annual Exemption Report in which ( I) FT Global Capital, Inc. identified the following provisions of 17 C.F.R. § 15c3-3(k) under which FT Global Capita l, Inc. cla imed an exemption from 17 C.F.R. § 240.15c3-3: (k)(2)(i) (the "exemptio n provisions"); and, (2) FT Global Capital, Inc. stated that FT Global Capita l, Inc. met the identified exemption provisions throughout the most recent fiscal year w ithout exception. FT Global Capital, Inc.'s management is responsible for compliance with the exemption provisions and 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 obta in evidence about FT Global Capital, Inc.'s compliance with the exemption provisions. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's statements. According ly, 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 sta tements referred to above for them to be fairly stated, in all material respects, based on the provisions set forth in paragraph (k)(2)(i), of Rule 15c3-3 under the Securities Exchange Act of 1934.
February 28, 2020
Atlanta, GA ;twt:. *c* ~ ~ */) L-*
Rubio CPA, PC
Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.