# OMAC BEVERAGE SECURITIES LLC X-17A-5 (2022-02-10) — Broker-dealer annual report - Company: OMAC BEVERAGE SECURITIES LLC - Form: X-17A-5 - Filed: 2022-02-10 - Period: 2021-12-31 - Accession: 0001549994-22-000001 - CIK: 1549994 - File #: 8-69096 - Type: Broker-dealer - Material weakness: No - Auditor: Rubio CPA, PC - Auditor location: Atlanta, GA - Contact: Sean McLaren - Phone: 404-442-8760 - Email: sean@omacbeverage.com - Website: omacbeverage.com - Signed by: Sean O. McLaren (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1549994/000154999422000001/omac.pdf --- {0}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** ## **ANNUAL REPORTS FORM X-17A-S PART Ill** 0MB APPROVAL 0MB Number: 3235-0123 Expires: Oct. 31, 2023 Estimated average burden hours per response: 12 > SEC FILE NUMBER 8-69096 **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 **01/01/21** MM/DD/VY AND ENDING **12/31** /21 MM/DD/VY **A. REGISTRANT IDENTIFICATION** # NAMEOFFIRM: OMAC BEVERAGE SECURITIES LLC TYPE OF REGISTRANT (check all applicable boxes): iii Broker-dealer D Security-based swap dealer D Major security-based swap participant D Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) ## 305 W. WIEUCA ROAD NE | | | (No. and Street) | | | | |--------------------------------------------------------------------------------------------|--|------------------------------------------------------------|---------|-----------------------|--| | Atlanta | | GA | | 30342 | | | (City) | | (State) | | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | SEAN 0. MCLAREN | | (404) 442-8760 | | Sean@omacbeverage.com | | | (Name) | | (Area Code - Telephone Number) | | (Email Address) | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
RUBIO CPA, PC | | (Name - if individual, state last, first, and middle name) | | | | | 2727 Paces Ferry Rd SE, Suite 2-1680 Atlanta | | | GA | 30339 | | | (Address) | | (City) | (State) | (Zip Code) | | | 5/5/09 | | | 3514 | | | | l"
of Reg;;1cat;oo w;th PCAOB )Of apphcable) | | (PCAOB Reg;;trat;oo N,mbec, ;f apphcable) I | | | | | | | 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)(l)(ii), if applicable. **Persons who are to respond to the c:ollection of information contained in this form are not required to respond unless the form displays a currently valid 0MB control number.** {1}------------------------------------------------ #### **OATH OR AFFIRMATION** | 2~
financial report pertaining to the firm of OMAC BEVERAGE SECURITIES LLC
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Q oe••o••c,• | | This filing** contains (check all applicabl: 1/~~l:J Ni'< ~ \ \ ',, | | ~ (a) Statement of financial condition.
' IQ ff fl 6. ~ \ \ | | □ (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
l!i!!l | | 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 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. | | □ (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 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. | | D
(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 report or financial statements under 17 | | CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable.
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(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 240.15c3-le or 17 CFR 240.17a-12, | | as applicable. | | D
(y) Report describing any material inadequacies found to exist or 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 certain portions of this filing, see 17 CFR 240.17a-5{e)(3) or 17 CFR 240.18a-7{d}{2}, as | applicable. {2}------------------------------------------------ #### **OMAC Beverage Securities LLC** Financial Statements For the Year Ended December 31 , 2021 With Report of Independent Registered Public Accounting Firm {3}------------------------------------------------ # **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 Members of OMAC Beverage Securities LLC ## Opinion on the Financial Statements We have audited the accompanying statement of financial condition of OMAC Beverage Securities LLC (the "Company") as of December 31 , 2021 , the related statements of operations, changes in members' equity, and cash flows for the year then ended and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31 , 2021 , and the results of its operations and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America. #### 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. 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 audit we are required to obtain an understanding of 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 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. #### Supplemental Information The information contained in Schedules I, II and III has been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. The supplemental information is the responsibility of the Company's management. Our audit procedures included determining whether the information in Schedules I, II and III 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 accompanying schedules. In forming our opinion on the accompanying schedules, we evaluated whether the supplemental information, including its form and content, is presented {4}------------------------------------------------ in conformity with 17 C.F.R. §240.17a-5. In our opinion, the aforementioned supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole. We have served as the Company's auditor since 2012. February 9, 2022 Atlanta, Georgia **~CH,ft.** Rubio CPA, PC {5}------------------------------------------------ ## OMAC Beverage Securities **LLC** Statement of Financial Condition December 31, 2021 #### Assets | Cash
Prepaid expenses and other assets | \$
51,230
7,364 | |---------------------------------------------------------|-----------------------| | Total Assets | 58,594 | | Liabilities and Members' Equity | | | Liabilities
Accounts payable
Due to related party | 4,010
12,339 | | Total Liabilities | 16,349 | | Members' equity | 42,245 | | Total Liabilities and Members' Equity | \$
58,594 | {6}------------------------------------------------ ## OMAC Beverage Securities **LLC** Statement of Operations For the Year Ended December 31, 2021 | Revenues | | |-------------------------------|-----------------| | Interest | \$ | | | | | Total revenues | \$ | | | | | Expenses | | | Compensation and benefits | 98,770 | | Professional services | 19,536 | | Occupancy | 4,994 | | Technology and communications | 2,953 | | Other | 16,869 | | | | | Total expenses | 143,122 | | | | | Net loss | \$
(143,121) | | | | {7}------------------------------------------------ OMAC Beverage Securities **LLC** Statement of Changes in Members' Equity For the Year Ended December 31 , 2021 | | Total | |-----------------------------|---------------| | Balance, January 1, 2021 | \$
135,366 | | Members' contributions | 50,000 | | Net loss | (143,121) | | Balance, December 31 , 2021 | \$
42,245 | {8}------------------------------------------------ ## OMAC Beverage Securities LLC Statement of Cash Flows For the Year Ended December 31, 2021 | Cash flows from operating activities: | | |-------------------------------------------------------------------|-----------------| | Net loss | \$
(143,121) | | | | | Adjustments to reconcile net loss to net cash used by operations: | | | Change in prepaid expenses and other assets | (4,511) | | Change in accounts payable | 2,697 | | Change in due to related party | (7,635) | | Net cash used by operating activities: | (152,570) | | Cash flows from financing activities: | | | Members' contributions | 50,000 | | Net cash provided by financing activities: | 50,000 | | Net decrease in cash | (102,570) | | Cash Balance: | | | Beginning of year | 153,800 | | End of year | \$
51,230 | {9}------------------------------------------------ OMAC Beverage Securities LLC Notes to Financial Statements December 31 , 2021 Note A - Summary of Significant Accounting Policies Organization and Description of Business: OMAC Beverage Securities LLC (the "Company"), a Georgia limited liability company, was organized in April 2012 and became a broker-dealer in November 2012. The Company is a securities broker-dealer registered with the Securities and Exchange Commission ("SEC") and a member of the Financial Industry Regulatory Authority ("FINRA"). As a limited liability company, the members' liabilities are limited to their investments in the Company. Accounting Policies: The Company follows Generally Accepted Accounting Principles (GAAP), as established by the Financial Accounting Standards Board (the FASB), to ensure consistent reporting of financial condition, results of operations, and cash flows. Cash: The Company maintains its bank accounts at a high credit quality financial institution. Balances at times may exceed federally insured limits. Income Taxes: The Company is a Limited Liability Company that is taxed as an S corporation under the Internal Revenue Code regulations. Therefore, the income or losses of the Company flow through to and are taxable to its members. Accordingly, no income taxes are reflected in the accompanying financial statements. The Company has adopted the provisions of FASB Accounting Standards Codification 740-10 (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 pass-through entity, and the decision not to file a return. The Company has evaluated each of its tax positions and has determined that it has no uncertain tax positions for which a 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. Date of Management's Review: Subsequent events were evaluated through the date the financial statements were issued. The Company is not aware of any significant events that occurred subsequent to the balance sheet date but prior to the filing of this report that would have a material impact on the financial statements. Accounts Receivable: Accounts receivable are non-interest bearing uncollateralized obligations receivable in accordance with the terms agreed upon with each customer. The Company regularly reviews its accounts receivable for any uncollectible amounts. The review for uncollectible amounts is based on an analysis of the Company's collection experience, customer credit worthiness, and current economic treads. {10}------------------------------------------------ OMAC Beverage Securities LLC Notes to Financial Statements December 31, 2021 ## Note A- Summary of Significant Accounting Policies (continued) Revenue Recognition: Revenue from contracts with customers includes placement and advisory services. The recognition and measurement of revenue is based on the assessment of individual contract terms. Significant judgment is required to determine whether performance obligations are satisfied at a point in time or over time; how to allocate transaction prices where multiple performance obligations are identified; when to recognize revenue based on appropriate measure of the Company's progress under the contract; whether revenue should be presented gross or net of certain costs; and whether constraints on variable consideration should be applied due to uncertain future events. The Company provides placement and advisory services related to capital raising activities and mergers and acquisitions transactions. Revenue from advisory arrangements is generally recognized at the point in time that performance under the agreement is completed (the closing date of transaction) or the contract is cancelled. However, for certain contracts, revenue is recognized over time for advisory arrangements in which the performance obligations are simultaneously provided by the Company and consumed by the customer. In some circumstances , significant judgement is needed to determine the timing and measure of progress appropriate for revenue recognition under a specific contract. Retainers and other fees received from customers prior to recognizing the revenue would be reflected as deferred revenue. The Company recognizes success fee revenue upon completion of a success fee-based transaction as this satisfies the only performance obligation identified by the Company. #### Note B - Net Capital The Company is subject to SEC Uniform Net Capital Rule (SEC Rule 15c3-1 ), which requires the maintenance of a minimum net capital , as defined, equal to the greater of \$5,000 or 6 2/3% of aggregate indebtedness as well as a ratio of aggregate indebtedness to net capital that shall not exceed 15 to 1. At December 31 , 2021 , the Company had net capital of \$34 ,881 which was \$29,881 in excess of its required net capital of \$5,000. The Company's ratio of aggregate indebtedness to net capital was 0.47 to 1.00. #### Note C - Related Party Transactions The Company has an expense sharing agreement with a sister company. Under the terms of the agreement, the Company pays the sister company for its allocated share of personnel services, occupancy, and other administrative costs provided to the Company. The amount expensed under the arrangement for the year ended December 31, 2021 was approximately \$117,000. The balance due to related party on the accompanying statement of financial condition arose from this agreement. Financial position and results of operations might differ from the amounts in the accompanying financial statements if this arrangement did not exist. {11}------------------------------------------------ OMAC Beverage Securities LLC Notes to Financial Statements December 31, 2021 Note D - Contingencies The Company is subject to litigation in the normal course of business. The Company has no litigation in progress at December 31, 2021. Note E- Economic Risks In March 2020, the World Health Organization (WHO) declared COVID-19 a global pandemic. This pandemic event has resulted in significant business disruption and uncertainty in both global and U.S. markets. While the Company believes that it is in an appropriate position to sustain the potential shortterm effects of these world-wide events, the direct and long-term impact to the Company and its financial statements is undetermined at this time. Note F - Net Loss The Company incurred a loss for 2021 and was dependent upon capital contributions from its Members for working capital and net capital. The Company's Members have represented that they intend to continue to make capital contributions as needed, to ensure the Company's survival through at least one year subsequent to the date of the report of the independent registered public accounting firm. Management expects the Company to continue as a going concern and the accompanying financial statements have been prepared on a going-concern basis without adjustments for realization in the event that the Company ceases to continue as a going concern. {12}------------------------------------------------ #### SUPPLEMENTAL IN FORMATION {13}------------------------------------------------ ## OMAC Beverage Securities **LLC** Schedule I Computation of Net Capital Pursuant to Rule 15c3-1 Of the Securities and Exchange Commission As of December 31, 2021 #### Net capital: | Total Members' equity | \$
42,245 | |----------------------------------------------------------------------|----------------| | Less: | | | Prepaid expenses and other assets
Total deductions and/or charges | 7,364
7,364 | | | | | Net capital before haircuts | 34,881 | | Less haircuts | | | Net capital | 34,881 | | Minimum net capital required | 5,000 | | (greater of \$5,000 or 6 2/3% of total aggregate indebtedness) | | | Excess net capital | \$
29,881 | | Aggregate indebtedness | \$
16,349 | | Net capital requirement based on aggregate indebtedness | \$
1,090 | | | | | Percentage of aggregate indebtedness to net capital | 46.87% | Reconciliation with Company's computation of net capital included in Part IIA of Form X-17A-5 and net capital as computed above. There is no significant difference between net capital as reported in Form X-17 A-5 and net capital as computed above. {14}------------------------------------------------ #### OMAC Beverage Securities LLC ## SCHEDULE II COMPUTATION FOR DETERMINATION OF RESERVE REQUIREMENTS UNDER RULE 15c3-3 OF THE SECURITIES AND EXCHANGE COMMISSION AS OF DECEMBER 31 , 2021 The Company does not claim exemption from SEA Rule 15c3-3 in reliance upon Footnote 74 of the 2013 Release. The Company does not hold customer funds or securities. ## SCHEDULE Ill INFORMATION RELATING TO THE POSSESSION OR CONTROL REQUIREMENTS UNDER RULE 15c3-3 OF THE SECURITIES AND EXCHANGE COMMISSION AS OF DECEMBER 31 , 2021 The Company does not claim exemption from SEA Rule 15c3-3 in reliance upon Footnote 74 of the 2013 Release. The Company does not hold customer funds or securities. {15}------------------------------------------------ #### **EXEMPTION REPORT SEA RULE 17a-5(d)(4)** February 3, 2022 Rubio CPA, PC 2727 Paces Ferry Road SE Building 2, Suite 1680 Atlanta, Georgia 30339 To Whom it May Concern: We , as members of management of OMAC Beverage Securities LLC (the "Company ") are responsible for complying with Rule 17a-5, "Reports to be made by certain brokers and dealers". We have performed an evaluation of the Company's compliance with the requirements of Rule 17a-5 and the exemption provisions in Rule 15c3-3(k) (the "exemption provisions ") and of the 2013 Release adopting amendments to Rule 17a-5, including Footnote 74 of the 2013 Release. We have determined that the Company does not meet any of the exemption conditions of paragraph (k) of Rule 15c3-3 (i.e., paragraph (k)(l), (k)(2)(i) or (k)(2)(ii)) but also (1) does not directly or indirectly receive, hold or otherwise owe funds or securities for or to customers, other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of Exchange Act Rule 15c2-4 ("Rule 15c2-4"); (2) does not carry accounts of or for customers; and (3) does not carry PAB accounts (as defined in Rule 15c3-3) and therefore is covered by Footnote 74 of the 2013 Release. Accordingly, based on our evaluation we make the following statements to the best knowledge and belief of the Company: - 1. We reviewed the provi sions of Rule §15c3-3 and related guidance stated in the SEC Staffs FAQ and confirmed that the Company relied on Footnote 74 of the 2013 Release. - 2. The Company conducts business activities involving mergers and acquisitions, private placements, and advisory services. - 3. The Company met the identified conditions for such reliance throughout the period January 1, 2021 to December 31, 2021 without exception. Name: Sean McLaren Title: CEO {16}------------------------------------------------ # **RUBIO CPA, PC** CERTIFIED PUBLIC ACCOUNTANTS 2727 Paces Ferry Road SE Building 2, Suite 1680 Atlanta, GA 30339 Office: 770 690-8995 Fax: 770838-7123 ## **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Members of OMAC Beverage Securities LLC We have reviewed management's statements included in the accompanying Broker Dealers Annual Exemption Report in which (1) OMAC Beverage Securities LLC did not claim an exemption from Rule 15c3-3 in reliance upon Footnote 74 of the 2013 Release, and (2) OMAC Beverage Securities LLC stated that OMAC Beverage Securities LLC met the identified conditions for such reliance throughout the most recent fiscal year without exception. OMAC Beverage Securities LLC'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 obtain evidence about OMAC Beverage Securities LLC'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. Accordingly, 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 statements referred to above for them to be fairly stated, in all material respects, based on the provisions set forth in Footnote 74 of the 2013 Release. February 9, 2022 Atlanta, GA **~c.M-A:..** Rubio CPA, *1* PC Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.