# EASTGATE SECURITIES, LLC X-17A-5 (2025-04-01) — Broker-dealer annual report
- Company: EASTGATE SECURITIES, LLC
- Form: X-17A-5
- Filed: 2025-04-01
- Period: 2024-12-31
- Accession: 0001428006-25-000004
- CIK: 1428006
- File #: 8-67837
- Type: Broker-dealer
- Material weakness: No
- Auditor: WWC, P.C. Certified Public Accountant
- Auditor location: San Mateo, CA
- Contact: Edward Yao
- Phone: 3479158999
- Email: eyao@eastgatesecurities.com
- Website: eastgatesecurities.com
- Signed by: Angelina Rao (CEO/CFO)
Original filing: https://www.sec.gov/Archives/edgar/data/1428006/000142800625000004/EGSRpt24Pub.pdf
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| UNITED STATES
SECURITIES AND EXCHANGE COMMISSION | | | OMB Number: 3235-0123 |
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| CHART STATUS CHOOL STY : THE TERRET FOR : TO THE TO TO THE | ANNUAL REPORTS | | SEC FILE NUMBER |
| A The Children Children Children Children | FORM X-17A-5 | | |
| | PART III | | THUEJ ADISTAS |
| | | | CAST BUIDIC SIXTE OF HEW YOU |
| | FACING PAGE
Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | | O O' OURSEBIAN |
| | | | I VIGE WINEN
12/31/24 |
| FILING FOR THE PERIOD BEGINNING | 01/01/24 | AND ENDING | |
| | MM/DD/YY | | MM/DD/YY |
| | A. REGISTRANT IDENTIFICATION | | |
| NAME OF FIRM. | Eastgate Securities, LLC | | |
| | | | |
| Broker-dealer Security-based swap dealer 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.) | | | |
| | | | |
| 40 Wall Street, Suite 2931 | | | |
| | (No. and Street) | | |
| New York | NY | | 10005 |
| (City) | (State) | | (Zip Code) |
| PERSON TO CONTACT WITH REGARD TO THIS FILING | | | |
| Edward Yao | 347-915-8999 | eyao@eastgatesecurities.com | |
| (Name) | (Area Code - Telephone Number) | (Email Address) | |
| | B. ACCOUNTANT IDENTIFICATION | | |
| | | | |
| INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | |
| WWC, P.C. Certified Public Accountants | | | |
| | (Name - if individual, state last, first, and middle name) | | |
| 2010 Pioneer Court | San Mateo | CA | 94403 |
| (Address) | (City) | (State) | (Zip Code) |
| | | | |
| 03/14/2006 | | 1171 | |
| (Date of Registration with PCAOB)(if applicable) | | | (PCAOB Registration Number, if applicable) |
| | FOR OFFICIAL USE ONLY | | |
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.
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#### OATH OR AFFIRMATION
| Angelina Rao | |
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| 1. | |
, swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of Eastgate Securities, LLC as of 12/31 2024 , 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.
PATRICK LEUNG NOTARY PUBLIC, STATE OF NEW YORK NO. 01LE6175038 QUALIFIED IN QUEENS COUNTY COMMISSION EXPIRES OCT 01, 2027 41 752
Signature:
Title: CEO/CFO
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 income 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.
- (h) 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.
- □ (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 20.15c3-3.
- □ (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.
- □ (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.
- □ (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net worth under 17 CFR 240.15c3-1, 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.
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- = (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.17a-12, as applicable.
- | | | J 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).
- O (z) Other:
- \*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.180-7(d)(2), as applicable.
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To the Board of Directors and Stockholders of Eastgate Securities, LLC
## **Opinion on the Financial Statements**
We have audited the accompanying statement of financial condition of Eastgate Securities, LLC (the "Company") as of December 31, 2024, and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Company as of December 31, 2024, in conformity with accounting principles generally accepted in the United States of America.
## **Emphasis of Matter – Going Concern**
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. During the year ended December 31, 2024, the Company incurred substantial losses and had an accumulated deficit. As disclosed in Note 5, these circumstances raise substantial doubt about the Company's ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of this uncertainty.
### **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. 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.
WWC, P.C. Certified Public Accountants PCAOB ID. No. 1171
We have served as the Company's auditor since 2021.
San Mateo, CA March 31, 2025
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# **Eastgate Securities, LLC Statement of Financial Condition As of December 31, 2024**
**ASSETS Cash \$ 465,873 Prepaid Expenses \$7,721 Security Deposit \$3,000 TOTAL ASSETS \$476,594 LIABILITIES AND EQUITY Liabilities \$- Total Liabilities \$ - Equity Member's Equity \$476,594 TOTAL LIABILITIES AND EQUITY \$476,594**
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# **Eastgate Securities LLC Notes to the Statement of Financial Condition For the year ended December 31, 2024**
1. Organization and Nature of the Business
Eastgate Securities, LLC (the "Company") was incorporated in the State of Delaware in July 2006. The Company is a registered broker-dealer with the Securities and Exchange Commission ("SEC") and a member of the Financial Industry Regulatory Authority ("FINRA") and the Securities Investor Protection Corporation ("SIPC"). For the year ended December 31, 2024, the Company conducted the following business activities according to the membership agreement with FINRA:
- a) Private placement of securities.
- b) Provide merger and acquisitions services.
- c) Underwriter or selling group participant (corporate securities other than mutual funds) firm commitment offering.
- 2. Summary of Significant Accounting Policies
- a) Basis of Accounting
The financial statements are prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America.
## b) Cash and Cash Equivalents
The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents consist of funds maintained in checking and money market accounts held at financial institutions. The Company's cash and cash equivalents are held principally at one financial institution and at times may exceed federally insured limits. The Company has placed these funds in high-quality financial institutions in order to mitigate the risk of loss from exceeding insured limits.
## c) 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 the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
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# 3.Subsequent Events
The Company has evaluated events subsequent to the statement of financial condition date for items requiring recording or disclosure in the financial statements. The evaluation was performed through March 31, 2025, the date the financial statements were available to be issued. Based upon this review, the Company has determined that there were no events which took place that would have a material impact on its financial statements.
Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.