# JETT CAPITAL ADVISORS, LLC X-17A-5 (2024-04-01) — Broker-dealer annual report - Company: JETT CAPITAL ADVISORS, LLC - Form: X-17A-5 - Filed: 2024-04-01 - Period: 2023-12-31 - Accession: 0001586743-24-000002 - CIK: 1586743 - File #: 8-69353 - Type: Broker-dealer - Material weakness: No - Auditor: Assurance Dimensions PLLC - Auditor location: Tampa, FL - Contact: John Clarke Gray - Phone: 9172381263 - Email: clarke@taylorgrayllc.com - Website: taylorgrayllc.com - Signed by: John Clarke Gray (CFO) Original filing: https://www.sec.gov/Archives/edgar/data/1586743/000158674324000002/passupdshort.pdf --- {0}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** 0MB APPROVAL 0MB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 > SEC FILE NUMBER 8-69353 ## **ANNUAL REPORTS FORM X-17A-5 PART** Ill **FACING PAGE** Information Required Pursuant to Rules 17a-S, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 FILING FOR THE PERIOD BEGINNING **Q 1/01/2023** AND ENDING **12/31/2023** MM/DD/VY MM/DD/VY **A. REGISTRANT IDENTIFICATION** ## NAME oF FIRM: Jett Capital Advisors LLC TYPE OF REGISTRANT (check all applicable boxes): I:!] Broker-dealer D 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.) ## 712 Fifth Ave., 11th floor | | | (No. and Street) | | | |---------------------------------------------------------------------------|--|--------------------------------|-----------------|--------------------------------------------| | New York City | | NY | | 10019 | | (City) | | (State) | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | J. Clarke Gray | | 917-238-1263 | | clarke@taylorgrayllc.com | | (Name) | | (Area Code - Telephone Number) | (Email Address) | | | | | B. ACCOUNTANT IDENTIFICATION | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | | | | Assurance Dimensions PLLC | | | | | | {Name - if individual, state last, first, and middle name) | | | | | | 4920 West Cypress St. | | Tampa | FL | 33607 | | (Address) | | (City) | (State) | (Zip Code) | | 5036 | | | 04/13/10 | | | (rte of Registration with PCAOB)(if applicable) | | FOR OFFICIAL USE ONLY | | (PCAOB Registration Number, if applicable) | | | | | | | \* 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-S(e)(l)(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 0MB control number. {1}------------------------------------------------ #### **OATH OR AFFIRMATION** | I, J. Clarke Gray | | | swear (or affirm) that, to the best of my knowledge and belief, the | | |-----------------------------------------------------------------------------|---------------------------------------------------|------------|-------------------------------------------------------------------------------------------------------------------------------------|-------| | financial report pertaining to the firm of Four Points CapitaJ Partners LLC | 2~ | | | as of | | 12/31 | | | 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. | | | | | | | MICAH A. TAYLOR
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Publ;C | /-f=~----- | | | | | Signature: | | | |------------|-------|--| | Title: | cc,o' | | # Thjs fill ... **contains (check** all **applJcable boxes):** - 6f (a) Statement of financial condition. - Gt (b) Notes to consolidated statement of financial condition. - D (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 liabilltfes 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.lSa-l., as applicable. - 0 (I) Computation of tangible net worth under 17 CFR 240.18a-2. - □ 0) Computation for determination of customer reseave requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - D (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. - D (I) Computation for Determination of PAB Requirements under Exhibit A to § 240.1Sc3-3. - □ (m) Information relating to possession or control requirements for customers under 17 CFR 240.1Sc3-3. - □ (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.1Sc3-3(p)(2) or 17 CFR 240.18a-4, as applicable. - □ (o) Reconciliations, induding appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.lSa-1, or 17 CFR 240.188-2, as applicable, and the reserve requirements under 17 CFR 240.1Sc3-3 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. - g/" (q) Oath or affirmation In accordance with 17 CFR 240.17a-S, 17 CFR 240.17a-12, or 17 CFR 240.lSa-7, as applicable. - □ (r) Compllance report In accordance with 17 CFR 240.17a-5 or 17 CFR 240.lSa-7, as applicable. - DJs) Exemption report In accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7. as applicable. - 11(' (t) fndependent 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-S, 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-S or 17 CFR 240.18a-7, as applicable. - 0 (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.lSa-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. - □ (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). D (z)Other: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_ - ••ro request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-S(e)(3) or 17 CFR 240.J.Ba-7(d}(2)., as applicable. {2}------------------------------------------------ ## JETT CAPITAL ADVISORS LLC STATEMENT OF FINANCIAL CONDITION AS OF DECEMBER 31, 2023 {3}------------------------------------------------ #### **JETT CAPITAL ADVISORS LLC CONTENTS AS OF DECEMBER 31, 2023** | REPORT OF INDEPENDENT REGIS1ERED PUBLIC ACCOUNTING FIRM | 1 | | |---------------------------------------------------------|-----|--| | FINANCIAL STATEMENT | | | | Statement of Financial Condition | 2 | | | Notes to Financial Statement | 3-6 | | | | | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member's of ~**T 'I £'1** #### **Opinion on the Financial Statements** We have audited the accompanying statement of financial condition of as of December 31, 2023, and *tbe* related notes and schedules (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 as of December 31, 2023 in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** This financial sratement is the responsibility of management. Our responsibility is to express an opm100 on 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 in accordance with the U.S. federal securities laws and the applicable rules and regulations of the U.S. Securities and Exchange Commission ("SEC'') 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 rest 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 presentatio n of the financial statement. We believe that our audit provides a reasonable basis for our opinion. We have served as Margate, Florida March 29 2024 **\...apual** A.dvisors, **LL(** auditor since 2023. > ASSURANCE DIMENSIONS C. also d/b/a McNAMARA and ASSOCIATES, PLLC **cnrlATrc** TAMPA BAY: 4920 W Cypress Street, Suite 102 I Tampa, FL 33607 I Office: 813.443.5048 I Fax: 813.443.5053 JACKSONVILLE: 4720 Salisbury Road, Suite 223 j Jacksonville, FL 32256 I Office: 888.410.2323 I Fax: 813.443.5053 ORLANDO: 1800 Pembrook Drive, Suite 300 j Orlando, FL 32810 j Office: 888.410.2323 I Fax: 813.443.5053 SOUTH FLORIDA: 2000 Banks Road, Suite 218 j Margate, FL 33063 j Office: 754.800.3400 j Fax: 813.443.5053 {5}------------------------------------------------ ## **JETT CAPITAL ADVISORS LLC Statement of Financial Condition** December 31, 2023 #### **ASSETS:** | Cash
Due from broker | \$1,329,176
16,167 | |------------------------------------------------------------|------------------------| | TOTAL ASSETS | \$ 1,345,343 | | LIABILITIES AND MEMBER'S EQUITY: | | | Accounts payable and accrued expenses
TOTAL LIABILITIES | \$
79,575
79,575 | | Member's Equity | 1,265,768 | | TOTAL LIABILITIES AND MEMBER'S EQUITY | 1,345,343
\$ | {6}------------------------------------------------ ## **Note** I - **Organization and Nature of Business Activity** Jett Capital Advisors, LLC ("the Company", "the LLC", "or "JCA") was organized in Delaware on August 19, 2013. On March 18, 2014 the Company was approved as a broker/dealer registered with the Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA). The Company advises its customers in raising capital primarily through private placements of public equity securities to institutional investors. The Company is focused primarily on the mining and minerals sector. It is a wholly owned subsidiary of Jett Capital Advisors Holdings, LLC ("the parent" or "JCAH"). The Company operates pursuant to the net capital provisions of Rule 15c3-3 of the Securities Exchange Act of 1934, and accordingly, is exempt from provisions of that Rule. The Company does not hold customer funds or securities. Under these exemptive provisions, the Computation for Determinationof Reserve Requirements and Information Relating to the Possession and Control Requirement s are not required. ## Note 2 - Summary of Significant Accounting Policies ### Basis of Presentation The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") as determined by the Financial Accounting Standards Board ("F ASB") Accounting Standards Codification ("ASC"). ### 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 the 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. #### Fair Value of Financial Instruments The Company's financial instruments consist of cash, accounts receivable, receivable from affiliated entity, and accounts payable. The fair value of cash is based upon the bank balance at December 31, 2023. The fair value of accounts receivable, receivable from affiliated entity and accounts payable is estimated by management to approximate their carrying value at December 31, 2023. {7}------------------------------------------------ ## **Note** 2 - **Summary of Significant Aecountine Policiesfcontinued}** #### Income Taxes ASC Topic 7 40 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. ASC Topic 740 requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Partnership's tax returns to determine whether the tax positions are "more-likely-than- not" of being sustained by the applicable tax authority. Tax positions not deemed to meet the more likely-than-not threshold would be recorded as a tax benefit or expense in the current year. The Partnership determined that there are no uncertain tax positions which would require adjustments or disclosures on the financial statements. #### Cash and Cash Equivalents The Company has defined cash equivalents as highly liquid investments with original maturities of less than 90 days which are not held for sale in the ordinary course of business. There were no cash equivalents at December 31, 2023. #### Due from Brokers The Company from time to time has cash at brokers. At December 31, 2023 this amounted to \$16,167. #### Concentration of Credit Risk The Company maintains its cash in bank deposit accounts at high quality financial institutions . The balances at times, may exceed the Federal Deposit Insurance Corporation's (the "FDIC") current \$250,000 limit. At December 31, 2023 the Company exceeded the limit by \$1,048,045. #### Credit Losses The Company complies with 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 ( e.g., based on the credit quality of the customer). #### **Note 3** - **Net Capital Requirements** The Company is registered with the SEC. The Company does not carry customer accounts and does not accept customer funds or securities. The Company is subject to the SEC Uniform Net Capital Rule (SEC Rule 15c3-1), which requires the maintenance of a minimum amount of net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. {8}------------------------------------------------ ### **Note 3** - **Net Capital Requirementslcontinued}** At December 31, 2023, the Company had net capital of \$1,265,768, which was \$1,165,768 in excess of its minimum net capital requirement of \$100,000. The ratio of aggregate indebtedness to net capital is 0.629 to 1. ## Note 4 - Income Taxes The Company is an LLC, wholly owned by JCAH and files consolidated federal and state with its only member, its Parent, and as a result is a "disregarded entity" for Federal and State income tax purposes. Accordingly, no provision or liability for federal and state income taxes has been included in the financial statements. The Company also files a consolidated tax return with its Parent who is subject to New York City Unincorporated Business Tax ("NYCUBT"). The Company accounts for the NYCUBT as though the Company filed its own return separate from the Parent and tax payments, if any, are paid to its Parent for its proportionate share of taxes. ## **Note 5** - **Related Party Transactions** The Company has entered into an expense sharing agreement with JCAH as of April 1, 2014 whereby all expenses related to the business of the Company will be borne by the Company as follows: All registration and filing fees incurred in connection with associated persons of the Company for registrations which may be required under (i) the Securities Exchange Act of 1934 (the "Exchange Act"); (ii) the By-Laws and Rules of Financial Industry Regulatory Authority ("FINRA"); and (iii) all applicable securities laws and regulations of those States and other jurisdictions in which such associated persons of the Company intend to conduct business; and All FINRA-related dues and assessment fees, annual independent auditor fees, fidelity bond premium fees, and its own federal, state and local tax liabilities. All expenses related to the business of the Company. Any expenses paid by J CAH will be reimbursed by the Company at the cost to JCAH including the NYUBCT, as more fully described in Note 4. This agreement can be terminated by either party with six month's written notice. JCAH entered into an office lease which commenced on June 1, 2018 for a period of six and one-half six years terminating November 30, 2023. Commencing December 8, 2023, JCAH entered into an amendment to extend the lease for a period of seven years and eight months expiring August 7, 2031. The Company uses that space and makes the payments on behalf of JCAH as part of the agreement with JCAH. During the year, the Company made a \$250,000 cash distribution to the parent and converted \$1,694,484 due from the parent into a distribution. {9}------------------------------------------------ #### **Note 6 .. Commitments, Contingencies and Indemnifications** In the n01mal course of its operations, the Company enters into contracts and agreements that contain indemnifications and warranties. The Company's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Company that have not yet occurred. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote. ### **Note 7** - **Subsequent Events** Management has evaluated the Company's events and transactions that occurred subsequent to December 31, 2023, through March 29, 2024 the date of issuance of these financial statements. There were no other events or transactions that occurred during this period that materially impacted the amounts or disclosures in the Company's financial statements. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.