# CLEARVIEW TRADING ADVISORS, INC. X-17A-5/A (2023-03-02) — Broker-dealer annual report - Company: CLEARVIEW TRADING ADVISORS, INC. - Form: X-17A-5/A - Filed: 2023-03-02 - Period: 2020-06-30 - Accession: 0001383996-23-000001 - CIK: 1383996 - File #: 8-67501 - Type: Broker-dealer - Material weakness: No - Auditor: Jennifer Wray CPA, PLLC - Auditor location: Sugar Land, TX - Contact: Gregg Ettin - Phone: 646-747-5220 - Signed by: Gregg Ettin (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1383996/000138399623000001/ClearviewPublicRestated20.pdf --- {0}------------------------------------------------ ### Statement of Financial Condition ### Including Report of Independent Registered Public Accounting Firm ### As of June 30, 2020 ### As Restated {1}------------------------------------------------ # UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235-0123 Expires: Oct. 31, 2023 Estimated average burden hours per response; 12 SEC FILE NUMBER 8-67501 # ANNUAL REPORTS FORM X-17A-5 PART III | Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | FACING PAGE | | | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|------------|--------------------------------------------| | FILING FOR THE PERIOD BEGINNING | 07/01/19 | AND ENDING | 06/30/24) | | | MM/DD/YY | | MM/DD/YY | | | A. REGISTRANT IDENTIFICATION | | | | NAME OF FIRM: Clearview Trading Advisors, Inc. | | | | | TYPE OF REGISTRANT (check all applicable boxes):
18 Broker-dealer - LJ Security-based swap dealer - Li Major security-based swap participant
Check here if respondent is also an OTC derivatives dealer | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | 10 Glenwood Road, Suite 904 | (No. and Street) | | | | Tenafly | 1200 | | 07670 | | (City) | (State) | | (Zip Code) | | FERSON TOXEC NEW THREGARD TO THIS FILING | | | | | | 917-741-3974 | | | | Gregg Ettin | | | gettin(a)clearviewtrading.com | | (Name) | (Area Code - Telephone Number) | | (Email Address) | | | B. ACCOUNTANT IDENTIFICATION | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
Jennifer Wray CPA PLLC | | | | | | (Name - if individual, state last, first, and middle name) | | | | 800 Bonaventure Way, Suite 168 | Sugar Land | TX | 77479 | | (Address) | (City) | (State) | (Zip Code) | | 11/80 2016 | | 6893 | | | (Date of Registration with PCAOB)(if applicable) | | | (PCADB 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-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 | | | swear (or affirm) that, to the best of my knowledge and belief, the | |--------------------------------------------|----------------------------------|---------------------------------------------------------------------| | | Clearview Trading Advisors, Inc. | | | financial report pertaining to the firm of | | | June 30 , 2 020 , 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 proprietary interest in any account classified solely as that of a customer. Notary Public #### This filing \*\* contains (check all applicable boxes): - & (a) Statement of financial condition. - & (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). - [ (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. - [ (g) Notes to consolidated financial statements. - [ ] Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - [ {i} Computation of tangible net worth under 17 CFR 240.18a-2. - [] Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 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 Exhibit A to 17 CFR 240.18a-4, as applicable. - [ (I) 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. - [1] 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 240.15c3-1, 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. - [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. - [ [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. - [] (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.17a-12, as applicable. - [] {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 this filing, see 17 CFR 240.170-5(e)(3) or 17 CFR 240.18c-7(d)(2), as applicable. Signature: CEO Thomas J. Calabrese Notary Public-State of New York No. 01CA6141338 Qualified in New York County My Commission Expires Aug 21, 2026 {3}------------------------------------------------ # **Table of Contents** | Report of Independent Registered Public Accounting Firm | 1 | |---------------------------------------------------------|-----| | Statement of Financial Condition | 2 | | Notes to Financial Statements | 3-4 | {4}------------------------------------------------ # **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To board members of Clearview Trading Advisors, Inc. # **Opinion on the Financial Statements** We have audited the accompanying statement of financial condition of Clearview Trading Advisors, Inc. as of June 30, 2020, the related statements of income, changes in shareholders' equity, and cash flows for the year ended June 30, 2020, and the related notes and schedules. In our opinion, the financial statements present fairly, in all material respects, the financial position of Clearview Trading Advisors, Inc. as of June 30, 2020 and the results of its operations and its cash flows for the year ended June 30, 2020 in conformity with accounting principles generally accepted in the United States of America. As discussed in Note 2 to the financial statements, the 2020 financial statements have been restated to correct a misstatement. # **Basis for Opinion** These financial statements are the responsibility of Clearview Trading Advisors, lnc.'s management. Our responsibility is to express an opinion on Clearview Trading Advisors, lnc. '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 Clearview Trading Advisors, Inc. 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. Our audit included performing procedures to assess the risks 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. # **Auditor's Report on Supplemental Information** The supplementary information contained in Schedules I, II & Ill have been subjected to audit procedures performed in conjunction with the audit of Clearview Trading Advisors, lnc.'s financial statements. The supplemental information is the responsibility of Clearview Trading Advisors, lnc. '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 Supplementary schedule is fairly stated, in all material respects, in relation to the financial statements as a whole. Jennifer Wray CPA PLLC We have served as Clearview Trading Advisors, lnc.'s auditor since 2022. Sugar Land, Texas March 2, 2023 {5}------------------------------------------------ # STATEMENT OF FINANCIAL CONDITION JUNE 30, 2020 AS RESTATED | ASSETS
Current assets | | |----------------------------------------------------|---------------| | Cash and cash equivalents | 177,045
\$ | | Prepaid expenses | 11 531 | | Total assets | 188,576
\$ | | LIABILITIES AND STOCKHOLDER'S EQUITY | | | Current liabilities | | | Accounts payable and accrued expenses | 28,846
\$ | | Commission payable | 197 689 | | Total current liabilities | 226,535 | | Commitments and Contingencies (Notes 4 and 7) | | | Stockholder's Equity | | | Common stock, no par value; 200 shares authorized; | | | 200 shares issued and outstanding | 12,500 | | Additional paid-in capital | 940,754 | | Accumulated deficit | (991,213) | | Total stockholder's equity | (37,959) | | Total liabilities and stockholder's equity | 188,576
\$ | *The accompanying notes are an integral part of this statement.* {6}------------------------------------------------ Notes to the Financial Statements As of and for the Year Ended June 30, 2020 As Restated ### (1) **Organization and Nature of Business** Clearview Trading Advisors, Inc. (the "Company") was incorporated in the state of New York on October 17, 2006. It is organized to be active in various aspects of the securities industry and is registered to be a broker-dealer with the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC). The Company is a non-clearing broker and does not handle any customer funds or securities. The Company is located in New York City. Customers are located throughout the United States. On January 25, 2021 the Company entered a Stock Purchase Agreement with CT A Holdings LLC to sell 95% of the issued and outstanding capital stock of the Company to CTA Holdings LLC. The transaction is contingent upon receiving FINRA approval under Rule 1017 application. As of June 30, 2021, the transaction was pending FlNRA approval. See footnote 2 for more information. #### (2) **Restatement** As part of the Stock Purchase Agreement with CTA Holdings LLC as describe above in footnote 1, the Company recorded additional paid-in capital during the fiscal year ending June 30, 2021 of\$250,000, as reported in its annual audit filing for the fiscal year ended June 30, 2021, issued on November 15, 2021. Subsequently, it was determined proper accounting treatment should have reflected this \$250,000 additional paid-in capital as a liability until all contingencies of the Stock Purchase Agreement with CTA Holdings, LLC are met. As a result of this change, the Company was deficit with net capital throughout the fiscal year ending June 30, 2021. Of the \$250,000 adjustment, \$197,689 was compensation expense incurred in the fiscal year ending June 30, 2020 and \$52,311 was compensation expense incurred in the fiscal year ending June 30, 2021. ### (3) **Summary of Significant Accounting Policies** #### **Significant Credit Risk and Estimates** The prepar~tion of financial statements in conformity with accounting principles generally accepted in the United State~ reqmres manage~ent of the Company to use estimates and assumptions that affect certain reported amounts and disclosures. Accordmgly, actual results could differ from those estimates. There were no liabilities subordinated to claims of general creditors during the year ended June 30, 2020. {7}------------------------------------------------ Notes to the Financial Statements As of and for the Year Ended June 30, 2020 As Restated ### **(2) Summary of Significant Accounting Policies (continued)** ### **Cash and Cash Equivalents** The Company has defined cash and cash equivalents as highly liquid investments with original maturities ofless than 90 days that are not held for sale in the ordinary course of business. Cash an~ c~sh equi".'alen~ in~lude money market accounts. Financial instruments that potentially subject the Company to credit nsk consist pnmanly of cash and cash equivalents and amounts due from broker dealers. The Company maintains cash and money market b~lances with commercial banks and other major institutions. At times, such amounts may exceed Federal Deposit Insurance Corporation limits. #### **Property, equipment and leasehold improvements** Property and equipment is carried at cost and is depreciated over their useful lives of 5 to 7 years using the straightline method. Leasehold improvements are carried at cost and are amortized over the lesser of the economic useful life or the life of the lease. ### **Use of Estimates** Management uses estimates and assumptions in preparing financial statements. Those estimates and assumptions affect the reported amounts of assets and liabilities, and the reported amounts of revenues and expenses. #### **Income Taxes** The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized with respect to the future tax consequences attributable to differences between the tax basis of assets and liabilities and their carrying amounts for financial statement purposes. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company recognizes and measures its unrecognized tax benefits in accordance with FASB ASC 740, Income Taxes. Under the guidance, the Company assesses the likelihood, based on technical merit, that the tax positions will be sustained upon examination based on the facts, circumstances and information available at the end of the reporting period. The measurement of unrecognized tax benefits is adjusted when new information is available, or when an event occurs that requires a change. The Company recognizes the accrual of any interest and penalties to unrecognized tax benefits in income tax expense. \$4,905 income tax on the income statement is for 2019 tax liability. The Company is subject to routine audits by the tax authorities; however, there are currently no audits for any tax periods in progress. The Company believes the tax years 2016 to 2019 may still be subject to income tax examination. #### (4) **Revenue Recognition** The Company recognizes revenue to depict the sale of private placement investments to customers in an amount that reflects the consideration to which the entity expects as a commission for the sale. The guidance requires an entity to follow a five-step model to (I) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation. In determining the transaction price, an entity may include variable consideration only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized would not occur when the uncertainty associated with the variable consideration is resolved. This change was applied using the modified retrospective method and there was no impact on our previously presented results. The adoption of the new revenue standard resulted in no change to the beginning retained earnings. {8}------------------------------------------------ Notes to the Financial Statements As of and for the Year Ended June 30, 2020 As Restated ### (5) **Concentrations** There was one major customer of the Company that represented 100% of the private placement revenue for the year ended June 30, 2020. ### (6) **Property, Equipment and Leasehold Improvements** Property, equipment and leasehold improvements consist of the following at June 30, 2020: | Furniture and fixtures | \$107,411 | |--------------------------------|-----------| | Leasehold Improvements | 99,773 | | Computer equipment | 101.178 | | | 308,362 | | Less: Accumulated depreciation | (308,362) | | | \$ | Depreciation expense for the year ended June 30, 2020 was \$24,997. #### (7) **Net Capital Requirements** The Company is subject to the SEC Uniform Net Capital Rule (Rule 15c-3-1), 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 (and that equity capital may not be withdrawn or cash dividends paid if the resulting net capital ratio would exceed 10 to 1). At June 30, 2020 the Company had net capital of\$(49,490), which was \$(149,490) less than its required net capital of \$100,000. The Company had a percentage of aggregate indebtedness to net capital of (457.74%) as of June 30, 2020. #### **(8) Subsequent events** The Company has performed an evaluation of subsequent events that have occurred subsequent to June 30, 2020, and through March 1, 2023 the date of the filing of this report. There have been no material subsequent events that occurred during such period that would require disclosure in this report or would be required to be recognized in the financial statements as of June 30, 2020. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.