# HALIFAX AMERICA LLC X-17A-5 (2025-03-31) — Broker-dealer annual report - Company: HALIFAX AMERICA LLC - Form: X-17A-5 - Filed: 2025-03-31 - Period: 2024-12-31 - Accession: 0001615360-25-000001 - CIK: 1615360 - File #: 8-69511 - Type: Broker-dealer - Material weakness: No - Auditor: Michael Coglianese CPA P.C. - Auditor location: Bloominbgdale, IL - Contact: Devin Brady - Phone: 8189283108 - Email: dbrady@halifaxamerica.com - Website: halifaxamerica.com - Signed by: Devin Brady (President / CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1615360/000161536025000001/halifaxllc2024.pdf --- {0}------------------------------------------------ | | SECURITIES AND EXCHANGE COMMISSION
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8-69511 | | | | FORM X-17A-5 | | | | | | | | | | | Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | FACING PAGE | | | | | FILING FOR THE PERIOD BEGINNING | 1/01/2024 | AND ENDING | 12/31/2024
MM/DD/YY | | | | MM/DD/YY | | | | | | A. REGISTRANT IDENTIFICATION | | | | | Halifax America LLC
NAME OF FIRM: | | | | | | TYPE OF REGISTRANT (check all applicable boxes):
Broker-dealer __ 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.) | | | | | | 5900 Sepulveda Blvd #304 | | | | | | | (No. and Street) | | | | | Sherman Oaks | CA | | 91411 | | | (City) | (State) | | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | Devin Brady | 818-928-3108 | | dbrady@halifaxamerica.com | | | (Name) | (Area Code - Telephone Number) | | (Email Address) | | | | B. ACCOUNTANT IDENTIFICATION | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing *
Michael Coglianese, CPA PC | | | | | | 125 E. Lake Street #303 | (Name - if individual, state last, first, and middle name)
Bloomingdale | 112 | 60108 | | | (Address) | (City) | (State) | (Zip Code) | | | 10/20/2009 | | 3874 | | | | (Date of Registration with PCAOB)(if applicable) | | | (PCAOB Registration Number, if applicable) | | | * Claims for exemption from the requirement that the annual reports of an independent public | FOR OFFICIAL USE ONLY | | | | 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)(1)(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 | Devin Brady | swear (or affirm) that, to the best of my knowledge and belief, the | |----------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------| | financial regort pertaining to the firm of Halifax Amrerica LLC | as as of | | March 31 | 2025_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. | | | | | | | Signature: | | STATE OF FLORIDA COUNTY OF BROWARD | | | | Title: | | | President | | | David Merkatz | | Notary Public
David Merkatz | NOTARY PUBLIC | | | STATE OF FLORIDA | | This filing ** contains (check all applicable boxes): | Appt. No. HH 367674 | | (a) Statement of financial condition. | Expires February 28, 2027
Notarial Act performed by Audio-Video Communication. | | (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 | | 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. | | [1) Computation of tangible net worth under 17 CFR 240.18a-2. | | | | (i) 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 240.1503-3. | | 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable. | (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR | | | (o) Reconcliations, including appropriate explanations, of the FOCUS Report with computation of net capital on 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. | - - - [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 statements under 17 CFR 240.17a-5, 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-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 240.17a-12, as applicable. - [ {y) Report describing any material hadequacies 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 : \_ - [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. - \* To request confidential treatment of certain portions of this filing, see 17 CFR 240.170-5(e)(3) or 17 CFR 240.180-7(d)(2), as applicable. {2}------------------------------------------------ Halifax America, LLC Audited Financial Statements and Supplemental Information December 31, 2024 # Table of Contents Report of Independent Registered Public Accounting Firm tatement of Financial ondition tatement of Operation tatement of ash Flows tatement of hange in Members quity Notes to the Financial tatements chedule I, omputation of Net apital Computation for Determination of Re erve Requirements under Rule 1 Sc3-3 of the ecurities and Exchange Commission Information Relating to the Possession or Control Requirements under Rule I Sc3-3 of the ecurities and xchange Commission Management's Attestation on k(2)(ii) xemption Report of Independent Regi tered Public Accounting Firm- Exemption Report {3}------------------------------------------------ ![](_page_3_Picture_0.jpeg) ■ MICHAEL COGLIANESE **CPA, P.C.** ALTERNATIVE INVESTMENT ACCOUNT ANTS JZS E. Lal< Strut, Ste. 303 Bloom,n11d•lt, IL 60108 Tel 630 3S1.8942 Mike cogcpa.com I www.cogrpa .com Bloomingdale I Chicago #### **Report of Independent Registered Public Accounting Firm** To the Members and Board of Directors of Halifax America, LLC We have reviewed management's statements, included in the accompanying Exemption Report, in which (1) Halifax America, LLC identified the following provisions of 17 C.F.R. §15c3-3(k) under which Halifax America, LLC claimed an exemption from 17 C.F.R. §240.15c3-3: (k)(2)(ii) (exemption provisions) and (2) Halifax America, LLC stated that Halifax America, LLC met the identified exemption provisions throughout the most recent fiscal year without exception. Halifax America, 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 Halifax America, 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 paragraph (k)(2)(ii) (exemption provisions) of Rule 15c3-3 under the Securities Exchange Act of 1934. Bloomingdale, IL March 27, 2025 {4}------------------------------------------------ Halifax America LLC Statement of Financial Condition As of December 31, 2024 ### ASSETS | Cash | \$2,630 | |-------------------------------------|-------------| | Commission Receivable | \$44,831 | | Security Deposit | \$7,797 | | Intangible Asset | \$33,892 | | TOTAL ASSETS | \$89.150 | | LIABILITIES & MEMBERS' EQUITY | | | Liabilities | | | Accounts payable & accrued expenses | \$16,315 | | Total Liabilities | \$16,315 | | Members' Equity: | | | Members' Equity | \$466,765 | | Retained Deficit | (\$397,082) | | Net Income | \$3,152 | | Total Members' Equity | \$72.835 | | Total Liabilities & Members' Equity | \$89.150 | {5}------------------------------------------------ # Halifax America, LLC Statement of Operations for the Year Ended December 31, 2024 | Commission revenues
Interest Income | \$416,359
\$56,043 | |-----------------------------------------------------------------------------|-----------------------------------| | Total Revenue | \$472,401 | | General and Administrative expenses: | | | Business Licenses and Permits
Salaries Expense
Administration Expense | \$20,000
\$387,233
\$62,016 | | Total general and administrative Expenses | \$469,249 | | Net Income | \$3,152 | {6}------------------------------------------------ # Halifax America, LLC Statement of Cash Flows For the year Ended December 31, 2024 | \$3,152 | |------------| | | | | | \$4,464 | | | | (\$13,156) | | \$5,962 | | \$42 | | | | \$422 | | \$2,208 | | \$2.630 | | | | \$0 | | 80 | | | {7}------------------------------------------------ ### Halifax America LL tatement of hanges in Member' quity For the year Ended December 31 , 2024 | | Members'
quity | Retained
Deficit | Total | |-------------------------------|-------------------|---------------------|----------| | Balance at December 31 , 2023 | \$466,765 | (\$397,082) | \$69,683 | | Member's contributions | \$0 | | \$0 | | Member's withdrawals | \$0 | | \$0 | | Net Income | | \$3 152 | \$3,152 | | Balance of December 31 2024 | \$466,765 | (\$393,930) | \$72,835 | {8}------------------------------------------------ # **Halifax America, LLC Notes to the Financial Statements For the Year Ended December 31, 2024** # **l. Organization of the Company and Nature of Operations** Halifax America, LLC (the Company) is organized under the International Business Companies Act in Seychelles. The Company wa formed in June 2011 for the purpose of conducting busine s as an introducing broker (IB) and a securities broker dealer (BD). The firm is no longer registered to do business as an Introducing broker (18) with the NFA. As a BD, the Company is registered with the SEC and is a member with the Financial Industry Regulatory Authority (FINRA) authori zed to market investments in securities and other financial instruments. # **2. ummary of Significant Accounting Policies** *Use of Estimates-* The preparation of the financial statements in conformity with generally accepted accounting princjples requ.ires management to make reasonable estimates and assumptions that affect the repo1ted amounts of the assets and liabilities and disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses at the date of the financial statements and for the period they include. Actual result may differ from these estimates. Revenue Recognition- The Company acts as an agent by selling securities to its cu. tomers and collecting commissions. The Company recognizes commissions on a trade date basis, which is the day the transaction i executed. The Company believes that the performance obligation is satisfied on the trade date because that i when the security is selected, the price is determined, trade is executed, and the risks and rewards of ownership have been transferred to/from the customer. The Company offers no warranty, guarantee or refunds. The Company utilizes a five~ tep model to a) identify the contract(s) with a customer (b) identify the performance obligations in the contra.cl (c) determine the transaction price, (d) allocate the transaction price to the performance obligations in the contract and (e) recognize revenue when the entity satisfies the performance obligation. Jnco111e taxes- The Company has elecled to be taxed as a Parlnership under the Internal Revenue Service Code. Accordingly, under such an election, the Company's taxable income is reported by the individual members and therefore, no provision for federal income taxes has been included in these financial statements. ### **3. Fair ValueofFinancial Instruments** {9}------------------------------------------------ *Fair Value Measurements* under generally accepted accounting principles clarifie the principle that fair value should be based on the assumption market participants would u c when pricing an a ct or liability and e tabli he a fair value hierarchy that prioritizes the information used to develop those a sumption . ndcr the tandard, fair Value measurement are eparately disclo ed by level within the fair value hierarchy as follows. Level I - Quoted prices in active markets for identical assets or liabilitie . Level 2 - Observable inputs other than Level I price such as quoted price for similar asset or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (Jes active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of as ets and I iabilitic . Level 3 - Unobservable inputs to the valuation methodology that are significant to the mea urement of fair value of assets or liabilities. To the extent that valuation is based on models or inputs that are less ob ervable or unob ervable in the market, the determination of fair value requires more judgment. In certain ca es, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes. the level in the fair value hierarchy within which the fair value measurement is di closed and i determined ba ed on the lowe t level input that is significant to the fair value mea urement. The value of ca h, commission receivables. and account payable and accrued expenses arc estimated to approximate fair market value on December 31 , 2024 becau e of their short-term nature. ### **4. Off Bala nee Sheet Risk** The Company executes various transactions for the benefit of customers through the clearing firm Interactive Brokers. Thi business activity subjects the Company to certain off - balance heet ri k, which may be in excess of the liabilities reported in the balance sheet. These tran actions arc contracted on a margin basis whereby the customer is required to maintain minimum margin with the clearing firm Interactive Brokers. In the event that a cu. tomer is in default of an obligation to the clearing firm Interactive Brokers, the clearing firm will require the ompany to fulfill the obligation on behalf of its cu tomer. This expo e the company to credit risk. The Company eeks to control this risk by monitoring the transaction of customer accounts on a real-time ba is. The Company has the authority to liquidate customer positions at its discretion in order to ensure the account doc not expo e the Company to unacceptable level of credit ri k. #### **5. et Capital Requirements** {10}------------------------------------------------ As a broker dealer, the company is also subject to the Securities and Exchange Commission Uniform Net Capital Rule (Sec Rule 15c 3-1) which requires the Company to maintain a minimum net capital equal to the greater of \$5,000 or 6.67% of aggregate indebtedness. As of December 31, 2024 the company had a net capital of \$26,146 which exceeded the minimum net capital requirement by \$21,146. The company does not currently have any commitments or contingencies that would affect this net capital calculation. #### 6. Subsequent Events The company has made a review of material subsequent events from December 31,2024 through the date of this report and found no material subsequent events reportable during this period. #### 7. Intangible Assets Intangible assets consist of a book of business that was purchased in the past. The amount was recorded at cost and amortized over it's useful life of 15 years. Accumulated amortization as of December 31, 2024 was \$33,108. Amortization expense for the year ending December 31, 2024 was \$4464. Management analyzes intangible assets for impairment on an annual basis or when factors arise that may indicate possible impairment. Management has noted no impairment as of December 31, 2024. #### 8. Commitments, Guarantees, and Contingencies Management of the Company believes there are no commitments, guarantees or contingencies that may result in a material loss or future obligations as of December 31,2024. #### 9. Reporting Segment Footnote The Company is engaged in a single line of business as a securities broker-dealer, which is comprised of several classes of services, including broker or dealer retailing corporate equity securities over the counter, mutual fund retailer, non-exchange member arranging for transactions in listed securities by exchange member, and put and call broker or dealer or option writer. The Company has identified its President/CEO Devin Brady as the chief operating decision making ("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 5), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy. The Company's operations constitute a single operating segment and therefore, a single reportable 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 summary of significant policies. The company did not derive a significant percentage of its total revenue from a single external customer in 2024. {11}------------------------------------------------ # **Schedule l** **ComJlUtation of Net Capital under Ruic 15c3-l of the Securities and Exchange Commission, and Reconciliation of Computation of et Capital Pursuant to Rule 15c3-I** | Members' equity | \$72.385 | |---------------------------------------------------------------------------|------------| | Deductions: | | | Non-allowable assets: | | | Security deposit | \$(7,797) | | Intangible Asset- net | \$(33,982) | | Net Capital | \$31,146 | | Le s Haircuts | .Q | | ADJUSTED NET CAPJT AL | \$31,146 | | Minimum requirements of 6-2/3% of aggregate indebtedness, \$5,000 per non | | | Non carrying Broker Dealer | \$5,000 | | Excess Net Capital | \$26,146 | | Aggregate Indebtedness: | \$16,315 | | Aggregate Indebtedness to Net Capital | 52% | | Excess net capital per this report | \$26,146 | There arc no material differences between the amounts presented above and the amounts presented in the Company's December 31.2024 unaudited FOCUS Part llA Report a filled. {12}------------------------------------------------ # **Computation of Determination of Reserve Requirements under Rule 15c3-1 of the Securities and Exchange Commission** The Company is exempt from the provisions of rule 1 Sc3-3 under the Securities and Exchange Act of 1934 pursuant to paragraph(k)(2)(ii) of the rul.e. The Company docs not hold funds or securities for customers, nor owe money or ecurities to cu tamers. {13}------------------------------------------------ # **Information Relating to the Posses ion or Control Requirement under Rule lSc-3-3 of the- ecuritics and Exchange Com mis ·ion** The Company is exempt from the provi ion of Rule 15c3-3 und r the Securities and Exchange Act of 1934 pursuant to paragraph (k)(2)(ii) of the rule. The ompany did not maintain possession or control of any cu tomer fund or ecurities. {14}------------------------------------------------ # **Halifa America, LLC 5900 epul eda Blvd uite 304 herman Oaks, 91411** **December 31, 2024** # **Rule 15c3-3 E emption Report** Thi i to certify that to the be t of my knowledge and belief: i a regi tered broker-dealer ubject to Rule l 7a-5 promulgated by the ecunt1e and xchange ommi ion ( I 7 .F.R. ection 240. 1 ?a-5 'Report to be made by certain broker and dealer "). Thi E emption Report wa prepared a requir d by 17 .F.R ection 240.17a-5(d)(l) and (4). To the b t of it know! dg and b lief Halifax America LL . tate the followi ng: Halifa America LL claimed an e emption under provi ion 17 .F.R. ection 240. l 5c3- 3 (k)(2)(ii) a the company i a non-carrying broker-dealer which promptly tran mit all fund and deli er all ecuritie received in connection with it activitie a a broker-dealer, and doe not otherwi e hold fund or ecuritie for or owe money or ecuritie to cu tomer . Halifa America LL met the identified provi ion throughout the mo t recent ti cal year without exception . Thank Yo inB~ / Managing Member {15}------------------------------------------------ ![](_page_15_Picture_0.jpeg) ■ MICHAEL COGLIANESE CPA, P.C. ALTER ATIVE INVESTMENT ACCOUNTANTS **Bloomingdale** I **Chicago** ### **Report of Independent Registered Public Accounting Firm** To the Members and Board of Directors and Shareholders of Halifax America, LLC ### **Opinion on the Financial Statements** We have audited the accompanying statement of financial condition of Halifax America, LLC as of December 31 , 2024, 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 Halifax America, LLC as of December 31, 2024, 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 Halifax America, LLC's management. Our responsibility is to express an opinion on Halifax America, LLC'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 Halifax America, 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 statements are 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 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 supplemental information listed in the accompanying table of contents has been subjected to audit procedures performed in conjunction with the audit of Halifax America, LLC's financial statements. The supplemental information is the responsibility of Halifax America, LLC's management. Our audit procedures included determining whether the supplemental information 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 supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with 17 C.F.R. §240.17a-5. In our opinion, the supplemental information listed in the accompanying table of is fairly stated, in all material respects, in relation to the financial statements as a whole. We have served as Halifax America, LLC's auditor since 2017. *(h* 1tiw~ *(:pf* 1 ~ ~ PA *J~ C* . Bloomingdale, IL March 27, 2025 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.