# ACCEPTUS CAPITAL CORP. X-17A-5 (2020-03-02) — Broker-dealer annual report

- Company: ACCEPTUS CAPITAL CORP.
- Form: X-17A-5
- Filed: 2020-03-02
- Period: 2019-12-31
- Accession: 0001664779-20-000001
- CIK: 1664779
- File #: 8-69734
- Material weakness: No
- Auditor: Rubio CPA PC
- Auditor location: Atlanta, GA
- Contact: Jon Nixon
- Phone: 9177031704
- Signed by: Steven Dubinsky (Director)

Original filing: https://www.sec.gov/Archives/edgar/data/1664779/000166477920000001/accep1.pdf

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|                                                                                           | 1JNITEDSTATES<br>SECURITIESA.i.'IDEXCHANGECOMMISSION    |                                                                                                                        | 0MB APPROVAL<br>0MB Number:<br>3235-0123 |                                |
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| Washington,D.C. 20549<br>ANNUAL AUDITED REPORT<br>FORM X-17 A-5<br>PARTIII                |                                                         | Expires:<br>August31,2020<br>Estimated average burden<br>hours oer resoonse •.•.•. 12.00<br>SEC FILE NUMBER<br>B-69734 |                                          |                                |
| Information Required of Brokers and Dealers Pursuant to Section 17 of the                 | FACL~GPAGE                                              | Securities Exchange Act of 1934 and Rule 17a-5 Thereunder                                                              |                                          |                                |
| REPORT FOR THE PERIOD BEGINNING.                                                          | __<br>0_1_/_0_1 /_1_9                                   | ____<br>AND ENDING                                                                                                     | __<br>1_2_/3_1_/_1_9                     | ____<br>_                      |
|                                                                                           | 11:MIDDIYY                                              |                                                                                                                        |                                          | MMIDD/YY                       |
|                                                                                           | A. REGISTRANT IDENTIFICATION                            |                                                                                                                        |                                          |                                |
| NAi.vIE OF BROKER-DEALER: Acceptus Capital Corp                                           |                                                         |                                                                                                                        |                                          | OFFICIAL USE ONLY              |
| ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.)                         |                                                         |                                                                                                                        |                                          | FIRM I.D. NO.                  |
| 510 Broadhollow Road, Ste 104                                                             |                                                         |                                                                                                                        |                                          |                                |
|                                                                                           | (Ko. and Street)                                        |                                                                                                                        |                                          |                                |
| Melville                                                                                  | NY                                                      |                                                                                                                        | 11747                                    |                                |
| (City)                                                                                    | (State)                                                 |                                                                                                                        | (Zip Code)                               |                                |
| NAME AND TELEPHO:t-."E NUMBER OF PERSON TO CONTACT IN REGARD TO THIS REPORT               |                                                         |                                                                                                                        |                                          |                                |
| Jon N'lXOO                                                                                |                                                         |                                                                                                                        | (516) 490-8400                           | (Area Code - Telephone Number) |
|                                                                                           | B. ACCOUl'-rrANT IDENTIFICATION                         |                                                                                                                        |                                          |                                |
| INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report*<br>Rubio CPA, PC |                                                         |                                                                                                                        |                                          |                                |
|                                                                                           | (Kame - if individi,al, state last. first. middle name) |                                                                                                                        |                                          |                                |
| 2727 Paces Ferry Rd, Bldg 2, Suite 1680 Atlanta                                           |                                                         |                                                                                                                        | Georgia                                  | 30339                          |
| (Address)                                                                                 | (City)                                                  | (State)                                                                                                                |                                          | (Zip Code)                     |
| CHECK ONE:                                                                                |                                                         |                                                                                                                        |                                          |                                |
| ✓ !certified Public Accountant                                                            |                                                         |                                                                                                                        |                                          |                                |
| Public Accountant                                                                         |                                                         |                                                                                                                        |                                          |                                |
| Accountant not resident in Gnitcd States or any of its possessions.                       |                                                         |                                                                                                                        |                                          |                                |
|                                                                                           | FOR OFFICIAL USE ONLY                                   |                                                                                                                        |                                          |                                |
|                                                                                           |                                                         |                                                                                                                        |                                          |                                |
|                                                                                           |                                                         |                                                                                                                        |                                          |                                |

**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 0MB control number.** 

SEC 1410 (11-05)

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#### **OATH OR AFFIR..~4..TION**

| r, Steven Dubinsky                                          | , swear (or affirm) that, to the best of                                                                                                                         |
|-------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Acceptus Capital Corp                                       | my knowledge and belief the accompanying financial statement and supporting schedules pertaining to the firm of<br>--------------------------------------------, |
| --------------------<br>of<br>Decemeber 31                  | as<br>20 19<br>are true and correct. I further swear (or affirm) 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: |                                                                                                                                                                  |

~ 21 *1vicN~*  Notary Public

This report\*\* contains (check all applicable boxes):

- 0 (a) Facing Page.
- 0 (b) Statement of Financial Condition.
- [Z! (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).
- n (d) Statement of Changes in Financial Condition.
- 0 (e) Statement of Changes in Stockholders' Equity or Partners' or Sole Proprietors' Capital.
- D (f) Statement of Changes in Liabilities Subordinated to Claims of Creditors.
- ✓ (g) Computation of Net Capital.
- (h) Computation for Determination ofReservc Requirements Pursuant to Rule 15c3-3.
- ~~ (i) Information Relating to the Possession or Control Requirements Under Rule 15c3-3.
- D G) A Reconciliation, including appropriate explanation of the Computation ofNet Capital Under Rule 15c3-l and the Computation for Determination of the Reserve Requirements Under Exhibit A of Rule 15c3-3.
- O (k) A Reconciliation bet\veen the audited and unaudited Statements of Financial Condition ,vith respect to methods of consolidation.
- 0 (1) An Oath or Affirmation.
- D (m) A copy of the SIPC Supplemental Report.
- D (n) A report describing any material inadequacies found to exist or found to have existed since the date of the previous audit.

*\*\*For conditions of confidential treatment of certain portions of this filing. see section 240.17 a-5 (e)(3).* 

DANIELLE S MCMAHON Notary Public, State of New York R~. No. 01MC636\$993 Oualiiie<i 1::; Smfolk County County Commission t::Xp1rss November i 3, 2021

· Signature

*j)/.~·~/L.*  Title

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# ACCEPTUS CAPITAL CORP.

FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION

DECEMBER 31, 2019

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# RUBIO CPA, PC

CERTIFIED PUBLIC ACCOUNTAN IS

2727 Paces Ferry Road SE Building 2, Suite 1680 Atlanta. GA 30339 Office: 770 690-8995 Fax: 770.838-7123

# **REPORT OF** INDEPENDENT **REGISTERED PUBLIC ACCOUNTING FIRM**

To the Stockholder of Acceptus Capital Corp.

### Opinion on the Financial Statements

We have audited the accompanying statement of financial condition ofAcceptus Capital Corp. (the "Company") as of December 31, 2019, the related statements of operations, changes fa stockholder's equity, and cash flows for the year then ended and the related notes (collectively referred to as the "financial statements''). In our opinio~ the financial statements present fairly, in all material respects, the financial position of the Company as of December 3 1, 2019, 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 Ooinion

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company"s financial stateme.nts 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 the Company 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 f"mancial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over :financial reporting. As part of our audit we are \_required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risks of material misstatement to the financial statements, whether due to error or fraud, and perfonning 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 vvell as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis of our opinion.

#### Supplemental fnfonnation

The information contained in Schedules l, II and II1 has been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. The supplemental information.is the responsibility of the Company's management. Our audit procedures included determining whether the information in Schedules I, II and III reconciles to the fii1ancial statements or the underlying accounting and other records, as applicable~ .and performing ·procedures to test the completeness and accuracy of the 

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information presented in the accompanying schedules. In forming our opinion on the accompanying schedules, we evaluated whether the supplemental information,- including its fonn and content, is presented in conformity with 17 C.F.R §240. l 7a-5. In our opinion, the aforementioned supplemental information is fairly stated, in all material respects, in relation to the -fmancial statements as a whole.

We have served as the Company's auditor since 2019.

March 2, 2020 Atlanta, Georgia

~ **el'~/~c-**

Rubio CPA, PC

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# **ACCEPTUS CAPITAL CORP. STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2019**

## ASSETS

| Cash                         | \$<br>83,497  |
|------------------------------|---------------|
| Deposit with Clearing Broker | 50,000        |
| Prepaid Expenses             | 19,695        |
| TOT AL ASSETS                | \$<br>153,192 |

# LIABILITIES AND SHAREHOLDER'S EQUITY

| Liabilities                                                        |                          |
|--------------------------------------------------------------------|--------------------------|
| Accounts Payable                                                   | \$<br>2,721              |
| Total Liabilities                                                  | 2,721                    |
| Shareholder's Equity<br>TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY | \$<br>150,471<br>153,192 |

See Accompanying Notes to Financial Statements.

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## **ACCEPTUS CAPITAL CORP. STATEMENT OF OPERATIONS YEAR ENDED DECEMBER 31, 2019**

| Revenues                     |                |
|------------------------------|----------------|
| Interest Income              | \$<br>1,087    |
| Total Revenues               | 1,087          |
| Expenses                     |                |
| Regulatory Fees              | \$<br>47,207   |
| Occupancy                    | 12,000         |
| Technology and Communication | 5,721          |
| Other Operating Expenses     | 4,812          |
| Professional Fees            | 4,000          |
| Total Expenses               | 73,740         |
| Net Loss                     | \$<br>{72,653) |

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# **ACCEPTUS CAPITAL CORP. STATEMENT OF SHAREHOLDER'S EQUITY YEAR ENDED DECEMBER 31, 2019**

| Balance -<br>January 1, 2019   | \$<br>143,124 |
|--------------------------------|---------------|
| Contributions                  | 80,000        |
| Net Loss                       | (72,653)      |
| Balance -<br>December 31, 2019 | \$<br>150,471 |

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## **ACCEPTUS CAPITAL CORP. STATEMENT OF CASH FLOWS YEAR ENDED DECEMBER 31, 2019**

| Cash Flows From Operating Activities                      |                |
|-----------------------------------------------------------|----------------|
| Net Loss                                                  | \$<br>(72,653) |
| Adjustments to Reconcile Net Loss to Net Net Cash Used by |                |
| Operating Activities:                                     |                |
| Increase in Prepaid Expenses                              | (3,013)        |
| Decrease in Accounts Payable                              | (6,505)        |
| Net Cash Used in Operating Activites                      | (82,171)       |
| Cash Provided by Financing Activities                     |                |
| Shareholder Contributions                                 | 80,000         |
| Net Cash Provided by Financing Activities                 | 80,000         |
| Decrease in Cash                                          | (2,171)        |
| Cash - Beginning                                          | 85,668         |
| Cash - Ending                                             | \$<br>83,497   |

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# **ACCEPTUS CAPITAL CORP. NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2019**

## NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Business: Acceptus Capital Corp. ("Company") incorporated in New York State and is a registered brokerdealer under the Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA") and the Securities Investor Protection Corp. ("SIPC"). The Company intends to engage in retail sales including buying and selling of stocks, debt securities, options, U.S. government securities, mutual funds and variable life insurance or annuities. The Company also intends to act as a placement agent for private placements of securities.

Income Taxes: Federal and NYS Corporation taxes have not been provided, as the Company has elected Subchapter "S" status, whereby the earnings or loss pass through to its parent company.

Estimates: Management uses estimates and assumptions in preparing financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses. Actual results could vary from the estimates that were assumed in preparing the financial statements.

Revenue Recognition: On January 1, 2018, the Company adopted Accounting Standards Update (ASU) 2014-09, "Revenue from Contracts with Customers (Topic 606)" and related ASUs. ASU 2014-09 clarifies that revenue from contracts with clients should be recognized in a manner that depicts the timing of the related transfer of goods or performance of services at an amount that reflects the expected consideration.

Leases: In February 2016, the FASS issued a new accounting pronouncement regarding lease accounting for reporting periods beginning after December 15, 2018. A lease is required to recognize on the balance sheet the assets and liabilities for leases with lease terms of more than 12 months. The adoption of this new pronouncement had no effect on the Company as it has no leases with terms of more than 12 months.

Date of Management's Review: Subsequent events were evaluated through the date the financial statements were issued.

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## **ACCEPTUS CAPITAL CORP. NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2019**

## NOTE B- NET CAPITAL

The Company, as a registered broker-dealer, is subject to the Securities and Exchange Commission Uniform Net Capital Rule (Rule 15c3-I), which requires the maintenance of minimum 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, 2019, the Company had net capital of \$130,776 which was \$30,776 above its required net capital of \$100,000 and its ratio of aggregate indebtedness to net capital was .02 to 1.0.

### NOTE C - OFF BALANCE SHEET RISK

When brokerage business begins, the Company's customers will execute securities transactions through the Company. These activities may expose the Company to off balance sheet risk in the event the customer or other broker is unable to fulfill its contracted obligations and the Company must purchase or sell the financial instrument underlying the contract at a loss.

#### NOTE D - DEPOSIT WITH CLEARING BROKER

The Company will clear all proprietary and customer transaction through another broker-dealer on a fully disclosed basis. The fully disclosed correspondent/clearing agreement requires a deposit with the clearing firm. Provided the Company is not in default of its obligations or liabilities to the clearing firm, the clearing firm will return the security deposit following termination of the fully disclosed correspondent/clearing agreement.

# NOTE E- RELATED PARTY TRANSACTIONS

The Company has a lease with an affiliate to occupy space at \$1,000 a month. Rent expense for the year ended December 31, 2019 was \$12,000.

Financial position and results of operations could differ from the amounts in the accompanying financial statements if this arrangement did not exist.

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SUPPLEMENTARY INFORMATION PURSUANT TO RULE 17A-5 OF THE SECURITIES EXCHANGE ACT OF 1934 AS OF DECEMBER 31, 2019

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## **SCHEDULE I ACCEPTUS CAPITAL CORP. STATEMENT OF SUPPORTING SCHEDULES DECEMBER 31, 2019**

| Net Capital                                                                                                                                                                                        |               |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------|
| Total Stockholder's Equity Qualified for Net Capital                                                                                                                                               | \$<br>150,471 |
| Deducations and/or Charges<br>Non-Allowable Assets:                                                                                                                                                |               |
| Prepaid Expenses                                                                                                                                                                                   | 19,695        |
| Total Deductions and/or Charges                                                                                                                                                                    | 19,695        |
| Net Capital Before Haircuts on Securities Positions {Tentative Net Capital)                                                                                                                        | 130,776       |
| Less: Haircuts on Investment Securities                                                                                                                                                            |               |
| Net Capital                                                                                                                                                                                        | \$<br>130,776 |
| Aggregate Indebtedness                                                                                                                                                                             | \$<br>2,721   |
| Percentage of Aggregate Indebtedness to Net Capital                                                                                                                                                | 2.08%         |
| Minimum Net Capital Required                                                                                                                                                                       | \$<br>100,000 |
| Excess Net Capital                                                                                                                                                                                 | \$<br>30,776  |
| Reconciliation with the Company's Computation (including<br>in Part IIA of Form X-17-a-5 as of December 31, 2019):<br>Net Capital, as reported in the Company's Part IIA unaudited<br>FOCUS Report | \$<br>130,776 |
| Net Capital per above                                                                                                                                                                              | 130,776       |
| Difference                                                                                                                                                                                         | \$<br>0       |

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## **ACCEPTUS CAPITAL CORP.**

#### **SCHEDULE** II

COMPUTATION FOR DETERMINATION OF RESERVE REQUIREMENTS UNDER RULE 15c3-3 OF THE SECURITIES AND EXCHANGE COMMISSION AS OF DECEMBER 31, 2019

The Company is exempt from the provisions of Rule 15c3-3 under the Securities Exchange Act of 1934, pursuant to paragraph (k)(2)(ii) of the Rule.

#### **SCHEDULE** Ill

INFORMATION RELATING TO THE POSSESSION OR CONTROL REQUIREMENTS UNDER RULE 15c3-3 OF THE SECURITIES AND EXCHANGE COMMISSION AS OF DECEMBER 31, 2019

The Company is exempt from the provisions of Rule 15c3-3 under the Securities Exchange Act of 1934, pursuant to paragraph (k)(2)(ii) of the Rule.

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# RUBIO CPA, PC

CERTIFIED PUBLiC ACCOUNTANTS 2727 Paces Ferry Road SE

Building 2, Suite 1680 Atlanta, GA 30339 Office: 770 690-8995 Fax: 770 838-7123

### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Stockholder of Acceptus Capital Corp.

We have reviewed management's statements, included in the accompanying Broker Dealers Annual Exemption Report in which (1) Acceptus Capital Corp. identified the following provisions of 17 C.F.R. § 15c3-3(k) under which Acceptus Capital Corp. claimed an exemption from 17 C.F.R. § 240.15c3-3: (k)(2)(ii) (the "exemption provisions"); and, (2) Acceptus Capital Corp. stated tbat Acceptus Capital Corp. met the identified exemption provisions throughout the most recent fiscal year without exception. Acceptus Capital Corp.' s management is responsible for compliance with the exemption provisions and its statements.

Our review was conducted in accordance with the standards ofthe Public Company Accounting Oversight Board (United States) and, accordingly, included inquiries and other required procedures to obtain evidence about Acceptus Capital Corp. 's compliance with the exemption provisions. A review is substantially less in scope than an examination, the objective of which is the e:x.-pression of an opinion on management's statements. Accordingly, .ve do not express such an opinion.

Based on ourreview, we are ncit 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), of Rule 15c3-3 under the Securities Exchange Act of 1934.

March 2, 2020 Atlanta, GA

Rubio CPA, PC

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#### **EXEMPTION REPORT**

SEC Rule 17a-S(d){4)

#### To Whom It May Concern:

The below information is designed to meet the Exemption Report criteria pursuant to SEC Rule 17a-**S{d){4):** 

- Acceptus Capital Corp. is a broker/dealer registered ·with the SEC and FINRA.
- Acceptus Capital Corp. claimed an exemption under paragraph (k)(2)(ii) of Rule 15c3-3 for the fiscal year ended December 31, 2019.
- Acceptus Capital Corp. is exempt from the provisions of Rule 15c3-3 because it meets conditions set forth in paragraph (k)(2)(ii) of the rule, of which, the identity of the specific conditions are as follows:
	- ► The provisions of the Customer Protection Rule shall not be applicable to a broker or dealer who, as an introducing broker or dealer, clears all transactions 'With and for customers on a fully disclosed basis with a clearing broker or dealer, and who promptly transmits all customer funds and securities to the clearing broker or dealer which carries all of the accounts of such customers and maintains and preserves such books and records pertaining thereto pursuant to the requirements of Rule 17 a-3 and Rule 17a-4, as are customarily made and kept by a clearing broker or dealer.
- Acceptus Capital Corp. has met the identified exemption provisions throughout the most recent fiscal year v.ithout exception.
- Acceptus Capital Corp. has not recorded any exceptions to the exemption for the fiscal year ended December 31, 2019.

The above statement is true and correct to the best of my and the Firm's knowledge.

Member FINRA, SIPC

510 Broadhollow Road• Suite 104 • Melville, New York 11747 516-927-1001 Local Member: FIN'"RA / SIPC


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