Full text of GRAVITAS CAPITAL INTERNATIONAL INC.'s X-17A-5 filed 2019-03-13 (period 2018-12-31). Broker-dealer annual report from SEC EDGAR — readable, searchable, and available as markdown for AI agents.
{0}------------------------------------------------ # **GRAVITAS CAPITAL INTERNATIONAL INC.** Statement of Financial Condition December 31, 2018 (With Independent Auditors' Report Thereon Required by Rule 17a-5) {1}------------------------------------------------ **ASSETS** | Cash | \lt;br>26,590 | |-------------------------------------------------------------------------------------|--------------| | Other Assets | 5,500 | | TOTAL ASSETS | \lt;br>32,090 | | LIABILITIES AND STOCKHOLDER'S EQUITY | | | Liabilities | | | Accounts payable and accrued expenses | \lt;br>17,417 | | Total Liabilities | 17,417 | | Equity | | | Capital Stock, without par value, 200 authorized,<br>1 share issued and outstanding | 1,250 | | Additional paid in capital | 482,405 | | Accumulated deficit | (468,982) | | Total Equity | 14,673 | | TOTAL LIABILITIES AND EQUITY | \lt;br>32,090 | The accompanying notes are an integral part of these audited financial statements. {2}------------------------------------------------ # NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS GRAVITAS CAPITAL INTERNATIONAL INC. ("we", "our" and the "Company") was incorporated on March 15, 2013 in New York State as a subsidiary of 2242257 Ontario Inc. which is the sole stockholder of the company. The Company is dependent upon its Stockholder. The Company is a member of the Financial Industry Regulatory Authority ("FINRA") and conducts a securities business generally limited to private placements of securities. The company commenced operations after receiving FINRA approval on August 6, 2015. The Company changed its name from P.S. Securities (USA) Inc. to Gravitas Capital International Inc. in May of 2018. # NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ## Cash and Cash Equivalents All short-term investments with an original maturity of three months or less are considered to be cash equivalents. ### Revenue Recognition Effective January 1, 2018, the Company adopted ASC Topic 606, Revenue from Contracts with Customers ("ASC Topic 606"). The new revenue recognition guidance requires that an entity recognize revenue due to depict the transfer of promised goods orservices to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods orservices. The guidance requires an entity to follow a five step model to (a) identify the contract(s) with a customer, (b) .identify the performance obligations in the contract, (c) determine the transaction price, (d)…Read the full text as markdown