# ATLAS TECHNOLOGY GROUP LLC X-17A-5 (2025-03-07) — Broker-dealer annual report
- Company: ATLAS TECHNOLOGY GROUP LLC
- Form: X-17A-5
- Filed: 2025-03-07
- Period: 2024-12-31
- Accession: 0001480937-25-000002
- CIK: 1480937
- File #: 8-68480
- Type: Broker-dealer
- Material weakness: No
- Auditor: Rodefer Moss & Co, PLLC
- Auditor location: Knoxville, TN
- Contact: Tony Trousset
- Phone: 4154079279
- Email: tony@atlastechgroup.com
- Website: atlastechgroup.com
- Signed by: Tony Trousset (Managing Member)
Original filing: https://www.sec.gov/Archives/edgar/data/1480937/000148093725000002/ATG2024Audit-PUBLIC.pdf
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Atlas Technology Group LLC
Annual Audit Report
December 31, 2024
PUBLIC REPORT
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12
# ANNUAL REPORTS FORM X-17A-5 PART III
SEC FILE NUMBER 8-68480
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 \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ 12/31/24 MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION NAME OF FIRM: Atlas Technology Group, LLC TYPE OF REGISTRANT (check all applicable boxes): മ 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.) 1300 El Camino Real, Suite 100 (No. and Street)
| Menlo Park | California | | 94025 |
|--------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------|------------|
| (City) | (State) | | (Zip Code) |
| PERSON TO CONTACT WITH REGARD TO THIS FILING | | | |
| Tony Trousset | 415-407-9279 | tony@atlastechgroup.com | |
| (Name) | (Area Code - Telephone Number) | (Email Address) | |
| | B. ACCOUNTANT IDENTIFICATION | | |
| Rodefer Moss & Co, PLLC | (Name - if individual, state last, first, and middle name) | | |
| 608 Mabry Hood Rd | Knoxville | Tennesse | 37932 |
| (Address) | (City) | (State) | (Zip Code) |
| 11/05/2003 | | 910 | |
| (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.
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#### OATH OR AFFIRMATION
| Tony Trousset | swear (or affirm) that, to the best of my knowledge and belief, the | |
|-----------------------------------------------------------------------|---------------------------------------------------------------------|-------|
| financial report pertaining to the firm of | Atlas Technology Group, LLC | as of |
| Comments of the control of the control of the county of the county of | | |
December 31 , 2 024 \_ 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.
See Attached CA Notarial Language for Public Notary: Srira Zadmehran Commission # 2492497
| Signature: | | | |
|------------|-----------------|--|--|
| Title: | Managing Member | | |
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).
- 0 (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.
- 2 (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 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.
- [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.
- O (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 240.18a-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.
- O (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).
- O (z) Other:
- \*\* To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(2), as applicable.
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# CALIFORNIA JURAT
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document, to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.
| STATE OF CALIFORNIA | | |
|---------------------------------------------------------|---------------|------|
| COUNTY OF Sall Frances so | | |
| Subscribed and sworn to (or affirmed) before me on this | day of | 2025 |
| 1214
100/500 F | Month
Date | Year |
| | | |
Name of Signers
proved to me on the basis of satisfactory evidence to be the person(s) who appeared before me.
Signature:
| | | Signature of Notary Public |
|--|--|----------------------------|
|--|--|----------------------------|
Seal Place Notary Seal Above
### ----------------------------------
Though this section is optional, completing this information of the document or fraudulent attachment of this form to an unintended document.
# Description of Attached Document
| Title or Type of Document: | |
|-----------------------------------|--|
| Document Date: | |
| Number of Pages:_ | |
| Signer(s) Other Than Named Above: | |
# Golden Gate Mobile Notary & Apostille
PO Box 717, San Francisco, CA 94104 | goldengatenotary.net | (415) 318-0163
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# TABLE OF CONTENTS
| Report of Independent Registered Public Accounting | |
|----------------------------------------------------|--|
| Firm Statement of Financial Condition | |
| Notes to the Financial Statements | |
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## REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Member of Atlas Technology Group, LLC
### Opinion on the Financial Statement
We have audited the accompanying statement of financial condition of Atlas Technology Group, LLC 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 Atlas Technology Group, LLC as of December 31, 2024 in conformity with accounting principles generally accepted in the United States of America.
#### Basis for Opinion
This financial statement is the responsibility of Atlas Technology Group, LLC's management. Our responsibility is to express an opinion on Atlas Technology Group, 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 Atlas Technology Group, LLC's 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 PCADB. 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 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 believe that our audit provides a reasonable basis for our opinion.
Rodefer Moss & Co, PLLC We have served as Atlas Technology Group, LLC's auditor since 2024. Knoxville, Tennessee February 28, 2025
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# Atlas Technology Group LI .C Statement of Financial Condition December 31, 2024
#### Assels
| Cash | ని | 3,763,081 |
|-----------------------------------|----|-----------|
| Short-Term Investments | | 376,774 |
| Accounts receivable, net | | 469,810 |
| Due from managing member | | 364 |
| Contract costs | | 143,499 |
| Prepaid expenses and other assets | | 79.769 |
| Total assets | | 4,833,297 |
| | | |
| Liabilities and Member's Equity | | |
| Accounts payable and accrued expenses | ಕ | 201,443 |
|---------------------------------------|---|-----------|
| Other liabilities | | 26,513 |
| Total liabilities | | 227,956 |
| Member's equity | | 4,605,341 |
| Total liabilities and member's equity | | 4,833,297 |
The accompanying notes are an integral part of these financial statements.
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#### -ORGANIZATION
Atlas Ticchnology Group I.I.C. (the "Company") was organized as a California limited liability company in November 2009 and operates in San Francisco, California. Under this form of organization, the member is not liable for the debts of the Company is a securities broker dealer and registered with the Securities and Exchange Commission ("SICC") and the Financial Industry Regulatory Authority ("FINRA") in October 2010. The Company advises public and private companies on mergers, acquisitions, and private placements on a fee basis.
#### 2. SIGNIFICANT ACCOUNTING POLICIES
### Cash and Cash Equivalents/Short Term Investments
The Company considers all demand deposits held in banks and certain highly liquid investments with original maturities of three months or less, other than those held for sale in the ordinary course of business, to be cash equivalents.
Atlas keeps the majority of its funds in a Schwab Money Market fund and a Citizens Bank account that is collateralized fully by cash and US government securities. In order to maintain a balance of cash below FDIC insured limits of \$250,000 in the Schwab Money Market fund, Atlas monitors the account balance daily. If cash in the account rises above the FDIC limit, shares are purchased to bring the cash balance below the limit. When cash is needed for operating expenses, written request to sell shares is sent to Tony Troussel (signer on the account), and shares are not sold without his consent. Income from the investment is recorded as Dividends or Interest as paid into the account and Gain/Loss on Investment as the value of the funds Increases. At December 31, 2024, balance in the Money Market fund and Citizens Bank are \$376,774 and \$3,363,072, respectively.
### Accounts receivable, net
Accounts receivable represents anounts that are due from clients in accordance with the Company's cugagement letters with respective clients that have not yet been collected. Management reviews accounts receivable and sets up an allowance for doubtful accounts when collection of a receivable becomes unlikely. The allowance for credit losses was \$0 at December 31, 2024.
### Credit Losses
The Company adheres to Accounting Standards Codification ("ASC") Topic 326, Financial Instruments - Credit Losses ("ASC 326"). ASC 326 impacts the impairment model for certain financial assets by requiring a current expected credit loss ("CECL") methodology to estimate expected credit losses over the entire life of the financial asset. Under the accounting update, the Company has the ability to determine that there are no expected credit losses in certain circumstances ( c.g., based on the credit quality of the customer). The Company does not have commission, investment banking and advisory fees (including, but not limited to, receivables related to brokerage commissions) as impacted by the new guidance, and therefore does not have any CECLs.
### Furniture and equipment, net
Furniture and equipment is carried at cost. Depreciation is calculated using the straight-line method over the estimated useful life of the assets of 3 to 7 years. Expenditures for repairs and maintenance which do not extend the useful life of the equipment are charged to expense as incurred.
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#### 2. SIGNIFICANT ACCOUNTING POLICIES (continued)
#### Revenue recognition
The Company follows the five-step model provided by ASC Topic 606 in order to recognize its revenue in the following manner: 1) identify the contract; 2) identify the performance obligations of the contract; 3) determine the transaction price of the contract; 4) allocate the transaction price to the performance obligations; and 5) recognize revenue.
The Company generates revenue from investment banking fees that result in success fees, engagement fees, and reimbursed expense income. Each client is identified by contracts. Revenue is recognized in the following manners for the revenue generated by the Company.
Revenue from contracts with customers is recognized when, or as, the Company satisfies performance obligations by transferring the promised goods or services to the customers. A good or service is transferred to a customer when, or as, the customer obtains control of that good or service. A performance obligation may be satisfied over time or at a point in time. Revenue from a performance obligation salisfied over time is recognized by measuring progress in salisfying the performance obligation in a manner that depicts the transfer of the goods or services to the customer. Revenue from a performance obligation satisfied at a point in time is recognized when it is determined the customer obtains control over the promised good or service. The amount of revenue recognized reflects the consideration the Company expects to be entitled to in exchange for those promised goods or services (i.e., the "transaction price"). In determining the transaction price, the Company considers multiple factors, including the effects of variable consideration. Variable consideration is included in the transaction price only to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur and when the uncertainties with respect to the amount are resolved. In determining when to include variable consideration price, the Company considers the range of possible outcomes, the predictive value of past experiences, the time period of when uncertainties expect to be resolved, and the amount of consideration that is susceptible to factors outside of the Company's influence, such as market volatility or the judgment and actions of third parties.
#### Use of estimates
The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of ussets and liabilities at the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and may have an impact on future periods.
#### Income taxes
The Company, a limited liability company, became an S Corporation for federal and state income tax purposes with an effective date of January 1, 2018. Pursuant to laws pertaining to income taxation of S corporations, no federal income tax is paid by the Company. The income or loss of the Company is reported on the individual tax return of the stockholder of the Company. Accordingly, no provision for income taxes is reflected in the financial statements besides the California state franchise tax.
I'he California state franchise tax anounted to \$395,962 for the year ended Deccmber 31, 2024, and is reported as a component of other operating expenses on the statement of income. The Company is no longer subject to examinations by major jurisdictions for tax years prior to 2021.
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#### 3. REVENUE FROM CONTRACTS WITH CUSTOMERS
The following provides detailed information on the recognition of the Company's revenue from contracts with customers:
#### Investment Banking Fees
Investment banking revenue can be both fixed and can be recognized over time and at a point in time. Engagement fees are typically fixed and recorded at a point when the engagement agreement is executed because customers have gained control over certain materials provided by the Company that satisfy related performance obligations. Success fees from investment banking engagements are typically variable fees recognized at a point in time on the transaction closing date since the related performance obligation has been satisfied upon completion.
#### Disaggregation of Revenue
The following table presents the Company's revenues scrarated between type of revenue from contracts with customers for the year ended December 31, 2024:
| Revenue from customer contracts | |
|---------------------------------------------|--------------|
| Success fees | \$18,417,413 |
| Engagement fees | 1,374,997 |
| Reimbursed expense income | 171.775 |
| Total revenue from contracts with customers | \$19.964,185 |
#### Contract Balances
Income is recognized upon completion of the related performance obligation and when an unconditional right to payment exists. The timing of revenue recognition may differ from the timing of customer payments. There was no uncarned income at December 31, 2024.
A receivable is recognized when a performance obligation is met prior to receiving payment by the customer. Accounts receivable, net of the current expected credit loss, totaled \$469,810 at December 31, 2024.
#### Contract Costs
The Company recognizes revenue from customer expense reimbursements on a gross basis and includes this as reimbursement income on the accompanying statement of income. Direct incremental costs to obtain a contract are expensed as incurred and are included in marketing and client development expenses on the statement of income. Direct incremental costs to fulfill a contract are evaluated under the criteria for capitalization on a contract basis. Capitalized contract costs totaled \$143,499 at December 31, 2024.
#### RECENTLY ISSUED ACCOUNTING STANDARDS র .
During December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU requires all public entities, including those with a single reportable
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# 4. RECENTLY ISSUED ACCOUNTING STANDARDS (continued)
segment, to disclose additional information about a reportable segment's expenses in interim and annual periods, among other requirements. The new guidance does not change how a public entity identifies its operating segments, aggregates those operating segments or applies the quantitative thresholds to determine its reportable segments. ASU 2023-07 is effective for all public entities for fiscal years beginning after December 15, 2023.
The Company is engaged in a single line of business as a securities broker-dealer providing M&A advisory services. The Company has identified its Owner, Tony Trousset, as the chief operating decision maker ("CODM"), who uses net income to evaluate the results of the business to manage the Company. 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 1.5 percent of its total revenues from a single external customer in 2024.
## 5. NET CAPITAL REQUIREMENTS
The Company is subject to the SEC's Uniform Net Capital Rule (SEC Rule 15c3-1), which requires the Company to maintain a minimum net capital of the greater of \$5,000 or the ratio of aggregate indebtedness to net capital not to exceed 15 to 1, both as defined. At December 31, 2024, the Company's net capital was \$4,307,687 which exceeded the minimum requirement by \$4,292,488. The Company's ratio of aggregate indebtedness to net capital at December 31, 2024 was 5.29 to 1.
# 6. EXEMPTION FROM RULE 15c3-3
The Company docs not claim an exemption from Rule 15c3-3 of the U.S. Securities and Exchange Commission act of 1934, in reliance on Footnote 74 to SEC Release No. 34-70073. The Company docs not hold funds or securities for customers and it promptly transmits all funds and delivers all securities in connection with its activities as a broker or dealer. The Complied with and met the identified requirements to rely on Footnote 74 of the SEC Release No. 34-70073.
#### r COMMITMENTS AND CONTINGENCIES
In the normal course of business, the Company may receive inquiries or become involved in legal disputes regarding various litigation matters. In the opinion of management, any potential liabilities resulting from such claims would not have a material adverse effect on the Company's financial position or results of operations.
# 8. RELATED PARTY TRANSACTIONS
At times, the managing member pays for items that are of a personal nature using Company funds. When that happens, the charges become due from the managing member. At December 31, 2024, the amount due to the Company by the managing member totaled \$364. The managing member will also earn commissions on revenue earned. When that happens, the commission is not paid to the managing member and will be paid through distributions at a later date. Total commission earned but not accounted in the books during 2024 was \$0.
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# 9. EMPLOYEE BENEFIT PLAN
The Company has a 401(k) defined contribution plan for eligible employees. Under the plan, the Company may make discretionary profit sharing contributions to the plan. During 2024, the Company made no profit-sharing or matching contributions to the plan.
# 10. SUBSEQUENT EVENTS
The Company has evaluated subsequent events through February 28, 2025, the date which the finanstalements were available to be issued. No subsequent events have occurred that would have a mateinabact on the presentation of the Company's financial statements.
Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.