# CREATIS CAPITAL LLC X-17A-5 (2020-03-02) — Broker-dealer annual report - Company: CREATIS CAPITAL LLC - Form: X-17A-5 - Filed: 2020-03-02 - Period: 2019-12-31 - Accession: 0001664779-20-000002 - CIK: 1292545 - File #: 8-66533 - Material weakness: No - Auditor: Rubio CPA PC - Auditor location: Atlanta, GA - Contact: Jon Nixon - Phone: 9177031704 - Signed by: Michael Bohlmann (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1292545/000166477920000002/creat2.pdf --- {0}------------------------------------------------ | | UNITED STATES | | 0MB APPROVAL | |--------------------------------------------------------------------------|---------------------------------------------------------------------------|------------|-------------------------------| | | SECURITIES AND EXCHANGE COMMISSION | | OMS Number:
3235-0123 | | | Washington,D.C. 20549 | | Expires:
March 31, 2016 | | | | | Estimated average burden | | | ANNUAL AUDITED REPORT | | hours oerresoonse •.•• 12.00 | | | FORM X-17A-5 | | SEC FILE NUMBER | | | PART Ill | | 8-66533 | | | FACING PAGE | | | | | Information Required of Brokers and Dealers Pursuant to Section 17 of the | | | | | Securities Exchange Act of 1934 and Rule 17a-5 Thereunder | | | | REPORT FOR THE PERIOD BEGINNING | 01/01/19 | AND ENDING | __
_,1=2/=3=1/=19"--_ | | | MM/DD/YY | | MM/DD/YY | | | A. REGISTRANT IDENTIFICATION | | | | NAME OF BROKER-DEALER: Creatis Capital, LLC | | | OFFICIAL USE ONLY | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) | | | FIRM 1.0. NO. | | 100 West 18th Street, Suite7F | | | | | | (No. and Street) | | | | NewYork | NY | | 10011 | | (City) | (State) | | (Zip Code) | | NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO TIDS REPORT | | | | | Michael Bohlmann | | | 646-535-0328 | | | | | (Area Code -Telephone Number) | | | B. ACCOUNTANT IDENTIFICATION | | | | INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report* | | | | | Rubio CPA. PC | | | | | | (Name - if individual, state last, first, middle name) | | | | | | | | | 2727 Paces Ferry Rd SE, Ste 2-1680 | Atlanta | GA | 30339 | | (Address) | (City) | (State) | (Zip Code) | | CHECK ONE: | | | | | 181 Certified Public Accountant | | | | | D Public Accountant | | | | | | D Accountant not resident in United States or any of its possessions. | | | | | FOR OFFICIAL USE ONILY | | | | | | | | *"Claims for exemption from the requirement that the annual report be covered by the opinion of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis for the exemption. See Section 240.17a-5(e)(2)* > **Potential persons who are to respond to the collection of Information contained In this fonn are not required to T&spond unless the form displays a currently valid OMIB control number.** SEC 1410 (06-02) {1}------------------------------------------------ #### **OATH OR AFFIRMATION** I, Michael M. Bohlmann , swear ( or affirm) that, to the best of my knowledge and belief the accompanying :financial statement and supporting schedules pertaining to the firm of \_\_\_ ..,,C'""rean=·,,,\_s\_.,,C""a"'p1""·ta1.~L=L=C=-------------------------------~· as of December 31 =20~1\_9 \_\_\_ ,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: Signature Title THOMAS J CALABRESE Notary Pubtlc • State of New York NO. 01CA6141J38 Qualified In New York County My Commission Expires Aug 21 , 2022 *CEO* Notary Public This report\*\* contains (check all applicable boxes): - **181**(a) Facing Page. - **181**(b) Statement ofFinancial Condition. - **181**(c) Statementoflncome (Loss). - **181**( d) Statement of Changes in Financial Condition. - · **l2l** (e) Statement of Changes :in Stockholders' Equity or Partners' or Sole Proprietors' Capital. - **D** (f) Statement of Changes in Liabilities Subordinated to Claims of Credito.rs. - **181**(g) Computation ofNet ~apital. - **0** (h) Computation for Determination of Reserve Requirements Pursuant to Rule 15c3-3. - **0** (i) Information Relating to the Possession or Control Requirements Under Rule 15c3-3. - **D** (j) A Reconciliittion, including appropriate explanation of the Computation ofNet Capital Under Rule 15c3-3 and the Computation for Determination of the Reserve Requirements Under Exhibit A of Rule 15c3-3. - **D** (k) A Reconciliation between the audited and unaudited Statements of Financial Condition with respect to methods of consolidation. - **181**(1) An Oath or ·Affirmation. - **0** (m) A copy of the SIPC Supplemental Report. **0** (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 240.17z-5(e)(3).* {2}------------------------------------------------ #### CREATIS CAPITAL, LLC. #### FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION FOR THE YEAR ENDED DECEMBER 31, 2019 {3}------------------------------------------------ #### **CREATIS CAPITAL, LLC Financial Statements For The Year Ended December 31, 2019** #### CONTENTS | Report of Independent Registered Public Accounting Firm | | |---------------------------------------------------------------------------------------------------------------------------------------------------|----| | Financial Statements | | | Statement of Financial Condition | 2 | | Statement of Operations | 3 | | Statement of Changes in Member's Capital | 4 | | Statement of Cash Flows | 5 | | Notes to Financial Statements | | | SUPPLEMENTARY INFORMATION TO FINANCIAL STATEMENTS | | | Computation of Net Capital under Rule 15c3-1
Schedule I -
of the Securities and Exchange Commission | 9 | | Computation for Determination of Reserve Requirement
Schedule II -
under SEC Rule 15c3-3 of the Securities and Exchange Commission | 10 | | Schedule Ill - Information Relating to the Possession and Control Requirements
under SEC Rule 15c3-3 of the Securities and Exchange Commission | 11 | | Report of Independent Registered Public Accounting Firm on the Company's
Exemption Report | 12 | | Creatis Capital, LLC Exemption Report (Assertions Report) | 13 | {4}------------------------------------------------ RUBIO CPA, PC GER I lFiED PUBLIC ACCOUNTANTS 2727 Paces Ferry Road SE Building 2, Suite i 680 Atlanta, GA 30339 Office: 770 690-8995 Fax: 770 838-7123 # **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member of Creatis Capital LLC #### Opinion on .the Financial Statements We have audited the accompanying statement of financial condition of Creatis Capital LLC (the "Company") as of December 31, 2019, the related statements of operations, changes in member's capital, and cash flows for the year then ended and the related notes ( collectively referred to as the "financial statements"). In our opinion, the financfal statements present fairly, .in all material respects, the .:fmancial position of the Company as of December 31, ZO 19, 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 the Company's management. Our responsibility is to express an opinion on the Company'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 the Company in accordance with the US. federal securities laws and the applicable rules and regulations of.the Securities and Exchange CoD11Ilission and the PCAOB. We conducted our audit in accordance witl1 the standards of the PCAOB. Those standards require that we plan and perform the auditto obtain reasonable assurance about whether the financial 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 fmancialreporting 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 rnisstatementto the fmancial 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 of our opinion. #### Supplemental Information The information contained in Schedules I, 11 and III 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 pro~edures included determinin~ whether ~e information in. Schedules I, II and Ill reconciles to the financ1al statements or the underlymg accounting and otherrecords, as applicable, and performing procedures to test the completeness and accuracy of the {5}------------------------------------------------ information presented in the accompanying schedules. In forming our opinion on the accompanying schedules, we evaluated whether the supplemental information, including its form and content, is presented in conformity with lTC.F .R. · §240.l 7a-5. In our opinion, the aforementioned supplemental information is fairly stated, in all material respects, in relation to the :financial statements as a whole. We have served as the Company's auditor since 2019. February 28, 2020 Atlanta, Georgia Rubio CPA, PC {6}------------------------------------------------ ## **CREATIS CAPITAL, LLC Statement of Financial Condition For The Year Ended December 31, 2019** #### ASSETS | Cash
Consulting Fees Receivable, less Reserve for Bad Debts of \$20, 138
Prepaid Expenses | \$
14,725
3,843 | |-------------------------------------------------------------------------------------------------|-----------------------| | Total Assets | \$
18,568 | | LIABILITIES AND MEMBER'S CAPITAL | | | Liabilities | | | Accounts Payable and Accrued Expenses | \$
4,552 | | Total Liabilities | 4,552 | | Member's Capital | 14,016 | | Total Liabilities and Member's Capital | \$
18,568 | | | | The accompanying notes are an integral part of these financial statements. 2 {7}------------------------------------------------ ## **CREATIS CAPITAL, LLC Statement of Operations For The Year Ended December 31, 2019** #### Revenues | Asset Management Fees | \$
83,383 | |--------------------------|----------------| | Fees from Broker | 5,000 | | Miscellaneous Income | 2,063 | | Total Revenues | 90,446 | | | | | Expenses | | | Commission Expense | 72,306 | | Professional Fees | 21,900 | | Bad Debt Expense | 20,138 | | Occupancy Expense | 5,210 | | Other Operating Expenses | 5,003 | | Regulatory Expenses | 7,083 | | Total Expenses | 131,640 | | | | | Net Income (Loss) | \$
{41,194) | | | | The accompanying notes are an integral part of these financial statements. 3 {8}------------------------------------------------ ### **CREATIS CAPITAL, LLC Statement of Changes in Member's Capital For The Year Ended December 31, 2019** | Balance - January 1, 2019 | \$
37,710 | |-----------------------------|--------------| | Capital Contributions | 17,500 | | Net Loss | (41,194) | | Balance - December 31, 2019 | \$
14,016 | The accompanying notes are an integral part of these financial statements. {9}------------------------------------------------ ### **CREATIS CAPITAL, LLC Statement of Cash Flows For The Year Ended December 31, 2019** | Cash Flows From Operating Activities: | | |--------------------------------------------------------------------------------------|----------------| | Net Loss | \$
(41,194) | | Item that does not impact Cash: | | | Bad Debt Expense | 20,138 | | Adjustments to Reconcile Net Income (Loss) to Net Cash Used by Operating Activities: | | | Decrease in Consulting Fee Receivable | 500 | | Decrease in Security Deposit | 3,510 | | Increase in Prepaid Expenses | (243) | | Increase in Accounts Payable and Accrued Expenses | 127 | | | 3,894 | | Net Cash Used by Operating Activities | (17,162) | | Cash Flows From Financing Activities: | | | Capital Contributed | 17,500 | | Cash Flows Provided by Financing Activities: | 17,500 | | | | | Net Increase in Cash | 338 | | Cash - Beginning of Year | 14,387 | | | \$
14,725 | | End of Year
Cash - | | The accompanying notes are an integral part of these financial statements. 5 {10}------------------------------------------------ ## **CREATIS CAPITAL, LLC Notes to Financial Statements For the year ended December 31, 2019** ### **1. Organization and Business** Creatis Capital LLC (f/k/a Northwinds Advisors LLC) (the "Company") is wholly owned by Creatis LLC. The Company is a broker-dealer registered with the Securities and Exchange Commission ("SEC") under rule 15c3-3(k)(2)(i) and is a member of the Financial Industry Regulatory Authority ("FINRA") and Security Investors Protection Corporation ("SIPC"). Effective January 30, 2015, Northwinds Renewables LLC sold all its interests in the Company to Creatis LLC and Northwinds Advisors LLC underwent a name change to Creatis Capital LLC. As a Limited Liability Company, the member's liability is limited to its investment in the Company. The Company engages in the private placement of securities. The Company engages in the distribution of private offerings of limited partnerships and other similarly structured investments. Pursuant to SEC Rule 15c3-3(k)(2)(i) (the Customer Protection Rule) Creatis Capital LLC does not hold any customer funds or safekeep customer securities. ## **2. Summary of Significant Accounting Policies and Basis of Presentation** ## **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 amount of assets and liabilities and disclosure of contingent assets and liabilities as of 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. ## **Revenue** The core principle of Revenue from Contracts with Customers (ASU 2014-09) is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 prescribes a five-step process to accomplish this core principle, including: - Identification of the contract with the customer; - Identification of the performance obligation(s) under the contract; - Determination of the transaction price; - Allocation of the transaction price to the identified performance obligation; and - Recognition of revenue as (or when) an entity satisfies the identified performance obligation(s). The Company receives asset management fees for introduction of investors that are satisfied over time because the customer is receiving and consuming the benefits as they are provided by the Company. Fee arrangements are based on a percentage applied to the customers assets under management. Fees are received monthly and are recognized as revenue at that time as they relate specifically to services provided in that period. {11}------------------------------------------------ ## **CREATIS CAPITAL, LLC Notes to Financial Statements For the year ended December 31, 2019** # **2. Summary of Significant Accounting Policies and Basis of Presentation (Continued)** #### **Cash** The Company maintains all cash in a major bank, which at times, may exceed Federal insured limits. The Company has not experienced any losses in such accounts and believes it is not subject to any significant credit risk on cash. The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. As of December 31, 2019, there were no cash equivalents. ## **Income Taxes** The Company is not required to file an income tax return as it is a disregarded entity for federal tax purposes. The Parent of the Company is a single member limited liability company, and as such the income is reported directly to the single member owner. Accordingly, no provision is made for income taxes in the financial statements. The Company has adopted the uncertainty in income tax accounting standard. This standard provides applicable measurement and disclosure guidance related to uncertain tax positions. At December 31, 2019, management has determined that the Company had no uncertain tax positions that would require financial statement recognition. This determination is subject to ongoing evaluation. ## **3. Net Capital** The Company is subject to the Uniform Net Capital Rule 15c3-1 under the Securities Exchange Act of 1934, 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 \$10,173 which exceeded the required net capital by \$5,173 and the ratio of aggregate indebtedness to net capital was .45 to 1.0. ## **4. Risks and Concentrations** Substantially all asset management fees arose from contracts with two customers. ## **5. Related Party Transactions** The Company has an expense sharing agreement with its parent company providing administrative space and services. During 2019, the expenses pursuant to the agreement totaled \$5,210. {12}------------------------------------------------ # **CREATIS CAPITAL, LLC Notes to Financial Statements For the year ended December 31, 2019** ## **6. Subsequent Event** The Company has performed an evaluation of subsequent events through, the date of the financial statements was issued. #### **7. Net Loss** The Company had a significant loss for 2019 and was dependent on capital contributions from its member for working capital and net capital compliance. The member has represented that he has the means and intention to provide capital contributions as needed to ensure the Company's survival for one year from the date of the report of independent registered public accounting firm. {13}------------------------------------------------ ## **CREATIS CAPITAL, LLC SCHEDULE I Computation Of Net Capital Under Rule 15c3-1 Of The Securities And Exchange Commission** #### **December 31, 2019** | Member's Equity | \$
14,016 | |------------------------------------------------------------------------------------------------------------------|--------------| | Non-allowable Assets | | | Prepaid Expenses
\$
3,843 | | | Total Non-Allowable Assets | 3,843 | | Net Capital before Haircuts on Proprietary Positions | 10,173 | | Haircuts | | | Net Capital | 10,173 | | Minimum Net Capital Requirement - the greater of \$5000 | | | or 6-2/3% of aggregate indebtness of \$4,552 | 5,000 | | Excess Net Capital | \$
5,173 | | | | | Ratio of Aggregate lndebtness to Net Capital: | | | Schedule of Aggregate Indebtedness: | | | Accounts Payable and Accrued Expenses
4,552
\$ | | | Total Aggregrate Indebtedness | \$
4,552 | | Ratio of A.I. to Net Capital | 44.75% | | Reconciliation with the Company's Computation (included
in Part IIA of Form X-17-a-5 as of December 31,2019): | | There is no significant difference between Net Capital, as reported in the Company's Part II unaudited FOCUS Report and Net Capital Per Above. {14}------------------------------------------------ #### **CREATIS CAPITAL, LLC SCHEDULE** II **COMPUTATION FOR DETERMINATION OF RESERVE REQUIREMENTS UNDER RULE 15c-3-3 OF THE SECURITIES AND EXCHANGE COMMISSION** #### **December 31, 2019** The Company is a non-carrying broker-dealer exempt from the provisions of Rule 15c3-3 under the Securities Exchange Act of 1934 in that the Company's activiites are limited to those set forth in the conditions for exemption appearing in Paragraph (k)(2)(i) of that rule. {15}------------------------------------------------ #### **CREA TIS CAPITAL, LLC SCHEDULE** Ill **INFORMATION RELATING TO POSSESSION OR CONTROL REQUIREMENTS UNDER RULE 15c3-3 OF THE SECURITIES AND EXCHANGE COMMISSION** **December 31, 2019** The Company claims exemption from the requirements of Rule 15c3-3, under Section (k)(2)(i) of the Rule. {16}------------------------------------------------ # 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 FIRJ.V.I To the Member of Creatis Capital LLC We have reviewed management's statements, included in the accompanying Broker Dealers Annual Exemption Report in which (1) Crearis Capital LLC identified the following provisions of 17 C.F .R. § 15c3-3(k) under which Creatis Capital LLC claimed an exemption from 17 C.F.R. § 240.15c3-3: (k)(2)(i) (the "exemption provisions"); and, (2) Creatis Capital LLC stated that Creatis Capital LLC metthe identified• exemption provisions throughout the most recent fiscal year without exceptions Crea:tis Capital LLC'smanagement is responsible for compliance with the exemption provisions and its statements. Our review was conducted in accordance with the standards ofthe Pt1blic Company Accounting Oversight Board (United States) and, accordingly, included inquiries .and other required procedures to obtain evidence about Creatis Capital 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 thatshould 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)(i), of Rule 15c3-3 under the Securities Exchange Act of 1934 .. February 28, 2020 Atlanta, GA Rubio CPA, PC {17}------------------------------------------------ ![](_page_17_Picture_0.jpeg) **CREATIS CAPITAL LLC** 100 West 18th Street, Suite 7F New York, NY 10011 # **Creatis Capital, LLC's Exemption Report {Assertions Report)** Creatis Capital, LLC (the "Company") is a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240.17a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R. § 240.l 7a-5(d)(l) and (4). To the best of its knowledge and belief, the Company states the following: (1) The Company claimed an exemption from 17 C.F.R. § 240.15c3-3 under the following provisions of 17 C.F.R. § 240.15c3-3 (k): (2)(i) (2) The Company met the identified exemption provisions in 17 C.F.R. § 240.15c3-3(k)(2)(i) throughout the year ended December 31, 2019, without exception. **Creatis Capital, LLC** I, Michael Bohlmann swear ( or affirm) that, to my best knowledge and belief, this Exemption Report is true and correct. By: *LQ2fi\_\_* Title: Chief Executive Officer Date: February 13, 2020 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.