# FIXCENTER, LLC X-17A-5 (2020-02-19) — Broker-dealer annual report - Company: FIXCENTER, LLC - Form: X-17A-5 - Filed: 2020-02-19 - Period: 2019-12-31 - Accession: 0001490015-20-000001 - CIK: 1490015 - File #: 8-68566 - Material weakness: No - Auditor: YSL & Associates LLC - Auditor location: New York, NY - Contact: Zissis Perdikis - Phone: 9178625536 - Signed by: Zissis Perdikis (Chief Executive Officer) Original filing: https://www.sec.gov/Archives/edgar/data/1490015/000149001520000001/fixcntr19s.pdf --- {0}------------------------------------------------ ### UNITED ST A TES SECURITIES AND EXCHANGE COMM1SSION Washington, D.C. 20549 0MB APPROVAL 0MB Number: 3235-0123 Expires: August 31, 2020 Estimated average burden hours per resoonse ... 12.00 8-39592 SEC FILE NUMBER # **ANNUAL AUDITED REPORT FORM X-17A-5 PARTill** ### **FACING PAGE** **Information Required of Brokers and Dealers Pursuant to Section 17 of the Securities Exchange Act of 1934 and Rule 17a-5 Thereunder** | REPORT FOR THE PERIOD BEGINNING | ~~
O~I~/O~I~/1=9~~ | ~ANDENDING | 12/31/19 | |---------------------------------------------------------------------------|--------------------------------------------------------|------------|-----------------------------| | | MM/DD/YY | | MM/DDNY | | | A. REGISTRANT IDENTIFICATION | | | | NAME OF BROKER -
DEALER: | | | | | FIXCENTER, LLC | | | OFFICIAL USE ONLY | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) | | | FIRM ID.NO. | | | 4502 Ditmars Blvd #515 | | | | | (No. and Street) | | | | Astoria | NY | | 11105 | | (City) | (State) | | (Zip Code) | | NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS REPORT | | | | | Zissis Perdikis | | | (917) 862-5536 | | | | | (Area Code - Telephone No.) | | | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | INDEPENDENT PUBLIC ACCOUNT ANT whose opinion is contained in this Rep01t* | | | | | | YSL & Associates LLC | | | | | (Name - if individual, state last, first, middle name) | | | | 11 Broadway Suite 700 | New York | NY | 10004 | | (Address) | (City) | (State) | (Zip Code) | | CHECK ONE: | | | | | ~ Certified Public Accountant | | | | | D
Public Accountant | | | | | D
Accountant not resident in United States or any of its possessions. | | | | | | FOR OFFICIAL USE ONLY | | | | | | | | | | | | | *\*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/or the exemption. See section 240.17a-5(e){2).SEC* 1410 (3-91) {1}------------------------------------------------ Statement of Financial Condition Pursuant to Rule 17a-5 under the Securities Exchange Act of 1934 December 31, 2019 {2}------------------------------------------------ # **TABLE OF CONTENTS** ### **This report\*\* contains (check all applicable boxes):** - [x] Independent Registered Public Accounting Finn's Report. - [x] Facing Page. - [x] Statement of Financial Condition. - [ ] Statement of Operations. - [ ] Statement of Changes in Member's Equity. - [ ] Statement of Cash Flows. - [ ] Statement of Changes in Liabilities Subordinated to Claims of General Creditors (not applicable). - [ ] Computation of Net Capital for Brokers and Dealers Pursuant to Rule I 5c3-I under the Securities Exchange Act of 1934. - [ ] Computation for Determination of Reserve Requirements for Brokers and Dealers Pursuant to Rule 15c3-3 under the Securities Exchange Act of 1934. - [ ] Information Relating to the Possession or Control Requirements for Brokers and Dealers Pursuant to Rule I 5c3-3 under the Securities Exchange Act of 1934 (not applicable). - [ ] A Reconciliation, including appropriate explanations, of the Computation of Net Capital Pursuant to Rule J 5c3-1 (included with item (g)) and the Computation for Determination of Reserve Requirements Under Rule I 5c3-3 (included in item (g)). - A Reconciliation Between the Audited and Unaudited Statements of Financial - Condition With Respect to Methods of Consolidation (not applicable). - [x] An Affirmation. [ ] - [ ] A copy of the SIPC Supplemental Report. - [ ] A repo1t describing any material inadequacies found to exist or found to have existed since the date of the previous audit (Supplemental Repo1t on Internal Control). - [ ] Report of lndependent Registered Public Accounting Firm regarding Rule I 5c3-3 exemption report. - [ ] Management Statement Regarding Compliance with the Exemption Provision for SEC Rule I 5c3-3 \*\* *For conditions of confidential treatment of certain portions of this filing, see section 240.l 7a-5(e}(3).* {3}------------------------------------------------ #### AFFIRMATION I, Zissis Perdikis, affirm thnt, to the best of my knowledge ancl belief, the accompanying statement of fiuaodal condition pertaining to Fh.Center, LLC for Hie year euded December 31, 2019, are true and correct. I further affirm that neither the Company nor any officer or director has any proprirtary interest in any nccount classified solely ns th:1t of a customer. **Sig~** Chief £\.ecutive Officer Title J */v'/-S* l)L.S1..,. Gl!OHGE c. LAZARIDCS "n1arv Public. State of New York t!'). ('111.! '930290 ~u.;IHi~d In ~uffolk County 2,'L.- •.-.mmts;sion Expires May 9. ?O {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) 11 Broadway, Suite 700, New York, NY 10004 Tel: (212) 232-0122 Fax: (646) 218-4682 ### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member of FixCenter, LLC ### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of FixCenter, LLC (the "Company") as of December 31, 2019, 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 the Company as of December 31, 20 19 in conformity with accounting principles generally accepted in the United States of America. ### **Basis for 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 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 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. We have served as Fix.Center, LLC's auditor since 2013. New York, NY February 18, 2020 {5}------------------------------------------------ ### **Statement of Financial Condition December 31, 2019** | Assets | | |-----------------------------------------------------|--------------| | Cash | \$
41,754 | | Other assets | 426 | | Total assets | \$
42,180 | | Liabilities and Member's Equity
Accrued expenses | \$
2,308 | | Member's equity | 39,872 | | Total liabilities and member's equity | \$
42,180 | {6}------------------------------------------------ ### **Notes to Statement of Financial Condition December 31, 2019** ### **1. Nature of Operations** FixCenter, LLC (the "Company"), a wholly-owned subsidiary of FixCenter Holdings, LLC is a New York limited liability company. It is a broker dealer registered with the Securities and Exchange Commission (the "SEC") and a member of the Financial Industry Regulatory Authority ("FINRA"). The Company's operations consist primarily of developing and providing an electronic trading platform to be utilized for fixed income trading by third party broker dealers. ### **2. Summary of Significant Accounting Policies** ### **Basis of Presentation** These financial statements were prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") which requires management to make estimates and assumptions that affect the reported a.mounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. ### **Cash** All cash deposits are held by one financial institution and therefore are subject to the credit risk at that financial instih1tion. The Company has not experienced any losses in such accounts and does not believe there to be any significant credit risk with respect to these deposits. ### **Income Taxes** No provision for income taxes has been recorded because the Company is a single member limited liability company and is thus treated as a disregarded entity. Accordingly, the individual members of its parent report their share of the Company's income or loss on their personal income tax returns. The Company's parent is subject to the New York City unincorporated business tax. As of December 31, 2019, management has determined thal lh~ 1,;ompany had no uncertain tax positions that would require financial statement recognition. {7}------------------------------------------------ ### **Notes to Statement of Financial Condition December 31 , 2019** ### **3. Regulatory Requirements** The Company is subject to SEC Uniform Net Capital Rule I 5c3-l under the Securities Exchange Act of 1934, 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 approximately \$39,400 which was approximately \$34,400 in excess of its required net capital of \$5,000. The Company does not handle cash or securities on behalf of customers. Accordingly, it is not affected by SEC Rule 15c3-3. #### **4. Going Concern** Accounting Standards Update 2014-15 requires that management evaluate conditions or events that might raise substantial doubt about the Company's abili ty to continue as a going concern. Management has evaluated the Company's conditions and has determined that unless the Company generates enough revenue or continues to be funded by its parent, there is substantial doubt about the Company's ability to continue as a going concern. Capital is not a significant income producing factor and should the Company have a need for capital it has been able to rely upon its parent to infuse capital to cover overhead should that become necessary. Management has pledged additional support to the Company to enable it to operate for the next year should that become necessary. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.