# JETT CAPITAL ADVISORS, LLC X-17A-5 (2025-04-01) — Broker-dealer annual report - Company: JETT CAPITAL ADVISORS, LLC - Form: X-17A-5 - Filed: 2025-04-01 - Period: 2024-12-31 - Accession: 0001586743-25-000003 - CIK: 1586743 - File #: 8-69353 - Type: Broker-dealer - Material weakness: No - Auditor: Assurance Dimensions PLLC - Auditor location: Tampa, FL - Contact: J. Clarke Gray - Phone: 9172381263 - Website: assurancedimensions.com - Signed by: J. Clarke Gray (CFO) Original filing: https://www.sec.gov/Archives/edgar/data/1586743/000158674325000003/jettsofc123124.pdf --- {0}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 > ANNUAL REPORTS FORM X-17A-5 PART III | 0MB
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12 | | | | | SEC FILE NUMBER OMB APPROVAL # 8-69353 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 01/01/2024 AND ENDING 12/31/2024 MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION NAME OF FIRM: Jett Capital Advisors LLC TYPE OF REGISTRANT (check all applicable boxes): S Broker-dealer □ Security-based swap dealer □ Check here if respondent is also an OTC derivatives dealer □ Major security-based swap participant ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) 712 Fifth Ave., 11 th 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(^tayiorgrayllc.conri (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 (pate of Registration with PCAOBKif applicable) (PCAOB Registration Number, if applicable) FOR OFFiaAL 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 collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. {1}------------------------------------------------ #### OATH OR AFFIRMATION (or affirm) that, to the best of my knowledge and belief, the as of I, swear financial report pertaining 'Te-r r O ;S> ^ 'l.d part(»r,officer,director,or equivalentperson,es the case may be, the firm of 'rre^ Mi I further swear (or affirm) that nelffier the company nor any has any proprietory' Interest in any account classified solely 2<>-^ . Is true and oo as ffiat of a customer. HOWRy POBuc. STATE OfSw VOfK No. 02TAS123117 Quol,n«d In Now Yorh County -B^mmJwlin lata/raas Title: /J - -V 7 Ni PuUlc Signature! This ffili^\* contains (chedc all appileabte boxes): - MSMtementoffincneielconditton. - (b) Notes to consolidated statement of financial condition. - □ (c) Statement of Income (loss) or, if ffiere is other comprehensive income In the perlod{s) presented, a statement of comprehensive income (as defined In f 210.1-02 of Regulation S-X). - □ (d) Statement of cash flows. - □ (e) statement of changes (n stockholders' or partners' or sole proprietor's equity. - □ (0 Statement of changes in liabilities subordinated to claims of creditors. - □ (g| Notes to amsolldated financial statMients. - □ (h)Computatkmofnetcapitalunderl7CFR240.15c3-lorl7 CFR 240.18a>l,asappllcabte. - G (I) Computation of tangible net worth under 17 CFR 240.18a-2. - □ |j) Computation for determination of customer reserve requir^ents pursuant to Exhibit A to 17 CRt 240.15c3'3. - O |k) Computation for determination of security-based swap reserve requirements pursuant ot Exhibit B to 17 CfR 240.15c3-3 or ExhibitA to 17 CFR 240.18a-4,as applicable. - □ (I) ComputationforD€termlnatianofPABRequirement\$underExhlbitAtoS240.15c3-3. - □ (m) Information relating to possession or control requirements for customer under 17 CFR 24ai5c3>3. - □ (n) infonnationrelatlngtoposses5lonorcontro1requlreinentsforsecurlty\*l>asedswapcustomersunderl7CFR 240.15c3>3(p)(2) or 17 CFR 240.1Ba-4, as applicable. - D (o) Reconciliations, Including appropriate explanations, of the FOCUS Report with computation of net capHel or tangible net worth under 17 CFR 240.1Sc3-l,17CFR 24O.lBa-l,orl7CFR24O.lB8-2,«sapp»c0We,andthereservefW|uIremenl5underl7 0=R 240.:^c3-3 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. 0^ (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. - □ (r) Compliance report in accordance with 17 CFR 240.17a4 or 17 CFR 240.lsa-7. as applicable. - Q (s) Exemption report In accordance with 17 CFR 240.170\*5 or 17 CFR 240.28a-7, as applicable. - 12^ (t) Indepmident 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 orfinandal statements under 17 CFR 240.17a-5.17 CFR 240.18a\*7, or 17 CFR 240.17a-12, as applicable, - a («y Independent public accountant's report based on an nomination of certain statements In the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a\*7. as applicable. - □ (w) Independent public amuntantis report based on a lefiriew of the exemption r^rort under 17 CFR 240.17»5 w 17 CFR 240.18a»7. as applicable. - □ (x) Supplemental reports on apptyb^ agreecNipon prMedures, In accordance with 17 CFR 240.15c3-le or 17 CFR 240.l7a-12, as applicable. - O (yI Report describing any materia/ fnadaquaeles found to exist or found to have ndsted since the date of the previous audit, or a statement that no material Inadequacies exist, under 17 CFR 240.17a-12(k). □ (i) Other — ■■■ - request confidential treatment of txrtaln portions ofthlspllng, see 17 CFH 240.17oS(e)l3) or 17 CFH 240.18a-7(df(2), os applicable. {2}------------------------------------------------ # JETT CAPITAL ADVISORS LLC ## STATEMENT OF FINANCIAL CONDITION DECEMBER 31,2024 (Filed Pursuant to Rule 17a-5 Under the Securiti^ Exchange Act of 1934) PUBLIC DOCUMENT {3}------------------------------------------------ # JETT CAPITAL ADVISORS LLC CONTENTS AS OF DECEMBER 31,2024 | INDEPENDENT
PUBUC
REPORT
OF
ACCOUNTING
REGISTERED
FIRM | 1 | |--------------------------------------------------------------------------|-----| | STATEMENT
FINANCIAL | | | Statement
Condition
of
Financial | 2 | | Notes
Statement
Financial
to | 3-7 | | | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ASSU RA N CEDIMENSIO NS # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member of Jett Capital Advisors, LLC: #### Opinion on the Financial Statements We have audited the accompanying statement of financial condition of Jett Capital Advisors, LLC as of December 31, 2024, and the 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 Jett Capital Advisors, 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 Jett Capital Advisors, LLC's management. Our responsibility is to express an opinion on Jett Capital Advisors, 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 Jett Capital Advisors, LLC 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 irsks 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 Jett Capital Advisors, LLC's auditor since 2023. Coral Springs, Florida March 31, 2025 > ASSURANCE DIMENSIONS, LLC also d/b/a McNAMARA and ASSOCIATES, LLC TAMPA BAY: 4920 W Cypress Street, Suite 102 | Tampa, FL 33607 | Office; 813.443.5048 | Fax: 813.443.5053 JACKSONV1L1E: 7800 Belfort Parkway, Suite 290 | Jacksonville, FL 32256 | Office: 888.410.2323 | Fax: 813.443.5053 ORLANDO: 1800 Pembrook Drive, Suite 300 | Orlando, FL 32810 Office: 888.410.2323 | Fax: 813.443.5053 SOUTH FLORIDA: 3111N. University Drive, Suite 621 Coral Springs, FL 33065 | Office: 754.800.3400 Fax: 813.443.5053 www.assurancedimensions.com 'hamtix OimeRilara' b Ihc brand name under wbldi Auuranc\* tXmvraloRi, LiC mdudtod Ks wtoidUfy McNvnm md AxudilB, Ll£ (nrlmcd tu|n elUmeOve fnedea structure In eccordence witti the AlCPA Code o< Pnjittsknal Cundici end eppUcable laws, refuladons, and professional standards. AD liC b a (censed Independent CPA fkm that provides attest services to Rs dients. aid AbItO, Advisors provide Ui and business consuRbic services to their dent,. AbitOs Advisors, end Ks sufasidiarv entities are not icensed CPA Arms. {5}------------------------------------------------ # JETT CAPITAL ADVISORS LLC Statement of Financial Condition December 31, 2024 # ASSETS: | Cash | \$4,701,498 | |---------------------------------------------------|-----------------| | Due
from
broker | 16.167 | | TOTAL
ASSETS | \$4,717,665 | | AND
MEMBER'S
EQUITY:
LIABILITIES | | | Accounts
and
expenses
payable
accrued | 3,762,273
\$ | | Due
parent
to | 149.834 | | TOTAL
LIABILITIES | 3,912,107 | | Member's
Equity | 805.558 | | AND
TOTAL
MEMBER'S
EQUITY
LIABILITIES | 4,717,665
\$ | The accompanying notes are an integral part of this financial statement. {6}------------------------------------------------ #### Organization and Nature of Business A Note 1 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 ("FASB") 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 Assets and Liabilities The Company's financial instruments consist of cash, due from broker, accounts payable and accrued expenses and due to parent. The fair value of cash is based upon the bank balance at December 31, 2024. The fair value of due from broker, accounts payable and accrued expenses and due to parent is estimated by management to approximate their carrying value at December 31,2024. {7}------------------------------------------------ # Note 2 - Summary of Significant Accounting Policiesrcontinuedl #### Income Taxes ASC Topic 740 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 31,2024. ## Due from Brokers The Company from time to time has cash at brokers. At December 31, 2024 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, 2024 the Company exceeded the limit by \$4,437,789. #### 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). The Company identified due from broker as in scope for consideration under ASC Topic 326. The Company did not record an allowance for credit losses at December 31,2024. ## Note 3 - Net Capital Requirements The Company is registered with the SEC. The Company does not carry customer {8}------------------------------------------------ ## Note 3 Net Capital Requirements (continued) accounts and does not accept customer funds or securities. The Company is subject to the SEC Uniform Net Capital Rule (SEC Rule 15c3-l), 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. At December 31, 2024, the Company had net capital of \$805,558, which was \$544,751 in excess of its minimum net capital requirement of \$260,807. The ratio of aggregate indebtedness to net capital is 4.8564 to 1. # Note 4 IncomcTaxes 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. U.S. GAAP requires evaluation of tax positions taken or expected to be taken in the course of preparing the tax returns to determine whether the tax provisions are more likely than not of being sustained by the applicable tax authority. The Company concluded that it does not have any unrecognized tax benefits or any additional tax liabilities for any uncertain positions as of December 31, 2024. The Company's 2021 to 2023 tax years remain subject to tax examinations by major tax jurisdictions. #### Related Party Transactions Note 5 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. {9}------------------------------------------------ ### Note 5 &gt; Related Party Transactions (continued! All expenses related to the business of the Company. Any expenses paid by JCAH 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 behalf of JCAH as part of the agreement with JCAH. At December 31, 2024, the Company owed JCAH \$149,834 shown as due to parent on the statement of financial condition. on # Note 6 - Segment Reporting The Company is engaged in a single line of business as a securities broker-dealer, which is comprised of several classes of services, including principal transactions, agency transactions, investment banking, investment advisory and venture capital business. The Company has identified its Managing Partner as &e chief operating decision maker ("CODM"), who uses net income to evaluate the results of the business, predominantly in the forecasting process, to manage the Company. Additionally, the CODM uses excess net capital (see Note 3) , which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to reinvest profits or pay dividends. The Company's operations constitute a single operating segment and therefore, a single erportable 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 nature of business and summary of significant accounting policies. ## Note 7 - Commitments. Contingencies and Indemnifications In the normal 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 8 - Subsequent Evenls Management has evaluated the Company's events and transactions that occurred subsequent to December 31, 2024, through March 31, 2025 the date of issuance of these financial statements. {10}------------------------------------------------ ### Note 8 Subsequent Events continued) There were no other events or transactions that occurred during this period that materially impacted the amounts or disclosures in the Company's financial statement. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.