# NEBARI SECURITIES, LLC X-17A-5 (2021-02-25) — Broker-dealer annual report - Company: NEBARI SECURITIES, LLC - Form: X-17A-5 - Filed: 2021-02-25 - Period: 2020-12-31 - Accession: 0001584977-21-000001 - CIK: 1584977 - File #: 8-69344 - Material weakness: No - Auditor: Ohab and Company, PA - Auditor location: Maitland, FL - Contact: Dmitriy Rutitskiy - Phone: 2127514422 - Signed by: Dmitriy Rutitskiy (CFO) Original filing: https://www.sec.gov/Archives/edgar/data/1584977/000158497721000001/NebariPublic2020.pdf --- {0}------------------------------------------------ UNITED ST ATES SECURJTIES AND EXCHANGE COMMLSSION Washington, D.C. 20549 | | OMB APPROVAL | | |----------------------------|--------------|-----------------| | OMB Number: | | 3235-0123 | | Expires: October 31 , 2023 | | | | Estimated average burden | | | | hours oer resoonse 12.00 | | | | | | SEC FILE NUMBER | | | | | # **ANNUAL AUDITED REPORT FORM X-17 A-5 PART Ill** # 8 -69344 # FACING PAGE Information Required of Brokers and Dealers Pursuant to Section 17 of the Securities Exchange Act of 1934 and Rule l 7a-5 Thereunder | REPORT FOR THE PERIOD BEGINNING | 01/01/2020
~~~~~-"---'-~~~~~~ | AND ENDING | 12/31/2020
~~~~-""---"-~~~~~ | |--------------------------------------------------------------------------|----------------------------------------------------------|------------|---------------------------------| | | MM/DDNYYY | | MM/DDfYYYY | | | A. REGISTRANT IDENTIFICATION | | | | AME OF BROKER-DEALER: | | | | | Nebari Securities, LLC | | | OFFICIAL USE ONLY | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) | | | | | | 130 STH AVENUE, FLOOR 5 | | | | | (No. and Street) | | | | NEW YORK | NY | | 10011 | | (City) | (State) | | (ZioCode) | | | B. ACCOUNT ANT IDENTIFICATION | | | | INDEPE DENT PUBLIC ACCOUNT A T whose opinion is contained in this Repon* | | | | | | OHAB AND COMPANY, PA | | | | | (Name -- i{i11dfrid11al. state last. first. middle name) | | | | 100 E. SYBELIA AVENUE, SUITE 130 | MAITLAND | Fl | 32751 | | (Address) | (City) | (State) | (Zip Code) | | CHECK ONE: | | | | | l:'.9 Certified Public Accountant
D Public Accountant | | | | | 0 Accountant not resident in United States or any of its possessions | | | | | | FOR OFFICIAL USE ONLY | | | | | | | | | | | | | *\*Claims for exemption from the requireme/I/ that the annual report be covered by the opinion of an independent public accountam must be supported by a statement of facts and circumstances relied on as the basis for the exemption. See section 240.17a-5(e)(2).* > Potential 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. SEC 14 10 (06-02) {1}------------------------------------------------ #### **OATH OR A FFIRMATION** I, Dmilriy Rutilskiy , ~wt:ar (or affirm) Lhat, lo lht: | | | best of my knowledge and belief the accompanying financial statement and supporting schedules pertaining to !he finn of
Nebari Securities, LLC | , as of | |------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------|---------| | | December 31, 2019 | , arc true and correct. I further swear (or affinn) that neither the company | | | | | nor any partner, proprietor, principal officer or director has any proprietary interest in any account classified solely as that of | | | | a customer, except as follows: | | | | | None | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | CFO | | | | | Title | | | | | | | | | otarv Public | | | | | | ClAUOIA TAYLOR
NOTARY PUeUC, Silll cl New York | | | | | No.OHAm1n
~~~~ | | | | | | | | | This report** contains (check all applicable boxes): | | | | | 0 (a) Facing page. | | | | | @ (b) Statement of Financial Condition. | | | | 0 | (c) Statement of Income (Loss). | | | | | 0 (d) Statement of Changes in Financial Condition. | | | | | 0 (e) Statement of Changes in Stockholders' Equity or Partners' or Sole Proprietors' Capital. | | | | | 0 (f) Statement of Changes in Liabilities Subordinated to Claims of Creditors. | | | | | D (g) Computation of Net Capital. | | | | | | 0 (h) Computation for Determination of Reserve Requirements Pursuant to Rule 15c3-3. | | | 0 (i) Information Relating to the Possession or control Requirements Under Rule I 5c3-3. | | | | | | | 0 (j) A Reconciliation, including appropriate explanation, of the Computation of et Capital Under Rule I 5c3-
I and the | | | | | Computation for Detennination of the Reserve Requirements Under Exhibit A of Rule I 5c3-3. | | | | | 0 (k) A Reconciliation between the audited and unaudited Statements of Financial Condition with respect to methods of con | | | | solidation. | | | | | @ (I) An Oath or Affinnation. | | | | | D (m) A copy of the SIPC Supplemental Report. | | | | | | 0 (n) A report describing any material inadequacies found to exist or found to have existed since the date of the previous audit. | | | | 0 (o) Exemption report | | | *\*\*For conditions of confidential treatment of certain portions of this filing, see section 240. I 7a-5(e)(3).* {2}------------------------------------------------ # NEBARI SECURITIES LLC # STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2020 {3}------------------------------------------------ # NEBARI SECURITIES LLC STATEMENT OF FINANCIAL CONDITION FOR THE YEAR ENDED DECEMBER 31, 2020 # TABLE OF CONTENTS | Report of Independent Registered Public Accounting Firm | | |---------------------------------------------------------|-----| | Statement of Financial Condition | 2 | | Notes to Statement of Financial Cond
ition | 3-4 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) 100 E. Sybelia Ave. Suite 130 Maitland, FL 3275 I *Certified Public Accountants* Email: pam(a ohabco.com Telephone 407-740-7311 Fax 407-740-6441 #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Member's of Nebari Securities LLC #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Nebari Securities LLC as of December 31, 2020, 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 Nebari Securities LLC as of December 31, 2020 in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** This financial statement is the responsibility of Nebari Securities LLC's management. Our responsibility is to express an opinion on Nebari Securities 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 Nebari Securities LLC 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 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. We have served as Nebari Securities LLC's auditor since 2014. Maitland, Florida February 22, 2021 {5}------------------------------------------------ # **NEBARI SECURITIES LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2020** #### **ASSETS** | Cash and cash equivalents | \$
22,293 | |---------------------------------------|--------------| | Prepaid Expenses | 15,249 | | CRD deposit | 5,964 | | Total assets | \$
43,506 | | LIABILITIES AND MEMBER'S EQUITY | | | Liabilities: | | | Accounts payable and accrued expenses | \$
7,095 | | Total liabilities | 7,095 | | Member's equity | 36,411 | | Total liabilities and member's equity | \$
43,506 | *The accompanying notes are an integral part of this financial statement.* {6}------------------------------------------------ # NEBARI SECURITIES LLC NOTES TO STATEMENT OF FINANCIAL CONDITION FOR THE YEAR ENDED DECEMBER 31, 2020 ## 1. ORGANIZATION AND NATURE OF BUSINESS Nebari Securities LLC (the "Company") is a wholly owned subsidiary of Nebari Capital LLC, (the "Parent") formed in the state of Delaware on May 5, 20 17. Exceed Securities LLC ("Exceed") was formed in the state of Delaware on August 6, 2013. Exceed was approved as a broker-dealer by the Securities and Exchange Commission (the "SEC") and the Financial Industry Regulatory Authority, Inc. ("FlNRA") on May 6, 20 14. On January 3, 20 18, FIN RA approved the acquisition of Exceed by Nebari Capital, LLC. Subsequently, on January 5, 201 8, Nebari Securities, LLC, a Delaware limited liability company merged with the Company and the succeeding company changed its name to Nebari Securities, LLC. The Company primarily provides consulting services on mergers, acquisitions and private placements. # 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES *C(lsh (Ind C(lsh equiv(l/ents* - Cash and cash equivalents are short-term, liquid investments with an original maturity of three months or less and are carried at cost, which approximates market value. *Income taxes* - The Company, with the consent of its member, elected to be taxed as a partnership under the Internal Revenue Code. All taxable income or loss flows through to the member. Accordingly, no income tax expense or liability is recorded in the accompanying financial statements. *Revenue recognition* - The Company recognizes revenues in accordance with Accounting Standards Codification ("ASC") Topic 606, "Revenue from Contracts with Customers". Fees from financial advisory assignments and underwriting revenues are recognized in accordance with the terms of the related investment banking and advisory service agreements. These agreements are generally recognized at the point in time that performance under the arrangement is completed (the closing date of the transaction) or the contract is canceled. Retainers and other fees received from customers prior to recognizing revenue are reflected as deferred liabilities. There are no unfulfilled performance obligations as of December 31 , 2020. *Signijic(lnf Judgments* - Revenue from contracts with customers includes fees from investment banking. 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 perfonnance obligations are identified; when to recognize revenue based on the 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. *Fair value of financial instruments* - Cash, accounts payable and accrued expenses are recorded in the financial statements at cost, which approximates fair value because of the short-term maturity of those instruments. *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 disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. {7}------------------------------------------------ # NEBARI SECURITIES LLC NOTES TO STATEMENT OF FINANCIAL CONDITION FOR THE YEAR ENDED DECEMBER 31, 2020 # 3. RELATED PARTY TRANSACTIONS The Company entered into an expense sharing agreement whereby some expenses are paid by the Parent and charged back to the Company. This amounted to \$12,420 made up exclusively of \$12,420 rental expenses for the year ended December 31 , 2020. ## 4. CONCENTRATION OF BUSINESS AND CREDIT RISK From time to time the Company may have cash deposits with its bank that exceed levels insured by the bank through FDIC. At December 31, 2020, the cash deposits did not exceed the FDIC limjts. # 5. NET CAPITAL REQUIREMENTS The Company is subject to the Securities Exchange Act of 1934 uniform net capital rules that requires maintenance of a minimum net capital and requires that the ratio of aggregate indebtedness to net capital not exceed 1500%. As of December 31, 2020, the Company's net capital was \$15, 198 as defined by the SEC, which was \$10, 198 in excess of its minimum net capital requirement of \$5,000. The Company's percentage of aggregate indebtedness to net capital was approximately 47% versus the ma;llimum allowable percentage of 1500%. # 6. COMMITMENTS AND CONTINGENCIES The company does not have any commitments, guarantees, or contingencies including arbitration or other litigation claims that may result in a loss or a future obligation. The company is not aware of any threats or other circumstances that may lead to the assertion of a claim at a future date. #### 7. SUBSEQUENTEVENTS The Company has evaluated events and transactions occurring subsequent to December 3 1, 2020. Management believes that no material events have occurred since December 31 , 2020 through February 22, 2021 , the date of the tiling of this report that requ ires recognition or disclosure in the statement of financial condition or related notes. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.