# SEXTANT SECURITIES, LLC X-17A-5 (2020-08-31) — Broker-dealer annual report - Company: SEXTANT SECURITIES, LLC - Form: X-17A-5 - Filed: 2020-08-31 - Period: 2020-06-30 - Accession: 0001673992-20-000002 - CIK: 1673992 - File #: 8-69772 - Material weakness: No - Auditor: YSL & Associates - Auditor location: New York, NY - Contact: Howard Spindel - Phone: 212-897-1688 - Signed by: Kathy Efrem (FINOP) Original filing: https://www.sec.gov/Archives/edgar/data/1673992/000167399220000002/sexs20.pdf --- {0}------------------------------------------------ ## SEXTANT SECURITIES, LLC # FINANCIAL STATEMENT For the year ended June 30, 2020 {1}------------------------------------------------ ### UNlTED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 0MB Number: 3235-0123 Expires: August 31, 2020 Estimated average burden hours oer resoonse ... 12.00 ### **ANNUAL AUDITED REPORT FORM X-17A-5 PARTID** | I
SEC FILE NUMBER | |----------------------| | 8-69772 | ### **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
MM/DD/YY | -----=0"-'-7.,_,/0=1=/2=0=19'---- AND ENDING | 06/30/2020
MM/DDNY | |---------------------------------------------|--------------------------------------------------------------------------|------------------------------------------------|-------------------------------------------------| | | A. REGISTRANT IDENTIFICATION | | | | NAME OF BROKER - | DEALER: | | OFFICIAL VSE | | | | | ONLY | | Sextant Securities, LLC | | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) | | FIRM ID.NO. | | | 39 Broadway, Suite 3300, Room 12 | | | | | (No. and Street) | | | | New York | NY | | 10006 | | (City) | (State) | | (Zip Code) | | | NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS REPORT | | | | Howard Spindel | | | (212)897-1688
(Area Code -
Telephone No.) | | | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report* | | | | | | | | | | | | | | YSL & Associates | (Name - | if individual, state last, first, middle name) | | | 11 Broadway | New York | NY | 10004 | | (Address) | (City) | (State) | (Zip Code) | | | | | | | CHECK ONE:
~ Certified Public Accountant | | | | | D
Public Accountant | | | | | D | Accountant not resident in United States or any of its possessions. | | | *\*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).SEC* 1410 (3-91) {2}------------------------------------------------ #### **AFFIRMATION** I. Kathy Efrem. affinn that. to the best of my knowledge and belief. the accompanying financial statements and supplemental schedules pertaining to Sextant Securities. LLC for the year ended June 30, 2020, are true and correct. I further affinn that neither the Company nor any officer or director has any proprietary interest in any account classified solely as that of a customer. Signatu *(-, 1\/6,)* ; Title **Notary Public** RUSSELL D. COHEN Nota,y Public , State of **New 'rotk** Qualified in **Nassau County** No. 01C06249690 CommiSSlOn Expires October 11, 2023 {3}------------------------------------------------ ## **SEXTANT SECURITIES LLC TABLE OF CONTENTS** ### **This report\*\* contains (check all applicable boxes):** - [x] Report of Independent Registered Public Accounting Firm. - [x] Facing Page. - [x] Statement of Financial Condition. - [ ] Statement of Operations. - [ ] Statement of Changes in Member's Equity. - [ ] Statement of Cash Flows. - [ ] Statement of Changes in Liabilities Subordinated to Claims of General Creditors (not applicable). - [ ] Computation of Net Capital for Brokers and Dealers Pursuant to Rule I 5c3-l - under the Securities Exchange Act of 1934. - [ ] Computation for Detennination of Reserve Requirements for Brokers and Dealers Pursuant to Rule 15c3-3 under the Securities Exchange Act of 1934. - [ ] Information Relating to the Possession or Control Requirements for Brokers and Dealers Pursuant to Rule l 5c3-3 under the Securities Exchange Act of 1934 (not applicable). - [ ] A Reconciliation, including appropriate explanations, of the Computation of Net Capital Pursuant to Rule I 5c3-1 and the Computation for Determination of Reserve Requirements Under Rule 15c3-3 (included in item (g)). - [ ] A Reconciliation Between the Audited and Unaudited Statements of Financial Condition With Respect to Methods of Consolidation (not applicable). - [x] An Oath or Affirmation. - [ ] A copy of the SIPC Supplemental Report. - [ ] A report describing any material inadequacies found to exist or found to have existed since the date of the previous audit (Supplemental Report on Internal Control). - [x] Independent Auditors' Report on Internal Control Required by SEC Rule 17a-5(g)(t). - [ ] Independent Auditors' Report Regarding Rule 15c3-3 Exemption. - [ ] Rule l 5c3-3 Exemption Report - \*\* *For conditions of confidential treatment of certain portions of this filing, see section 240.17 a-5 (e)(3 ).* {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) 11 Broadway, Suite 700, New York, NY 10004 Tel: (212) 232-0122 Fax: (646) 218-4682 ## **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member of Sextant Securities, LLC #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Sextant Securities, LLC (the "Company") as of June 30, 2020, and the related notes (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 the Company as of June 30, 2020 in conformity with accounting principles generally accepted in the United States of America. ### **Basis for Opinion** This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statement based on our audit. We are a public accounting finn 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 financial statement is 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 statement, whether due to error or fraud, and performing p1-occdurcs 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. i">L 91. {l-i\$v~~ L t,c\_\_ We have served as Sextant Securities, LLC' s auditor since 2017. New York, NY August 28, 2020 {5}------------------------------------------------ ## **SEXTANT SECURITIES, LLC** #### **STATEMENT OF FINANCIAL CONDITION** #### **JUNE 30, 2020** | ASSETS | | |--------|--| | Cash | \$
21,516 | |---------------------------------------|--------------| | Accounts receivable | 35,704 | | Other assets | 30,000 | | Prepaid assets | 1,659 | | Total assets | 88,879 | | LIABILITIES AND MEMBER'S EQUITY | | | Liabilities: | | | Accounts payable | 5,770 | | Due to affiliate | 700 | | Total Liabilities | \$
6,470 | | Member's Equity | 82,409 | | Total liabilities and member's equity | \$
88,879 | **The accompanying notes are an integral part of this financial statement.** {6}------------------------------------------------ ## **SEXTANT SECURITIES, LLC NOTES TO FINANCIAL STATEMENTS** ### **JUNE 30, 2020** #### NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS Sextant Securities, LLC (the "Company") is a broker dealer registered with the Securities and Exchange Commission ("SEC") and is a member of the Financial Tndustry Regulatory Authority ("FIN RA") formed for the purpose of providing broker dealer services including financial advisory services, mergers and acquisition services and to engage in private placement of securities and similar services. #### NOTE2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ### Basis of Presentation These financial statements were prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabiLities at the date of the financial statements and the amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. #### Income Taxes The Company is a limited liability company and is treated as a disregarded entity for federal, state and city income tax purposes; it therefore does not incur income taxes at the Company level. Instead its earnings and losses are passed through to the member and included in the calculation the ultimate member's tax liability. Accordingly, no provision for income taxes has been made in the accompanying financial statements. Management has analyzed the Company's tax positions and has concluded that no liability for unrecognized tax benefits should be recorded as of June 30, 2020. #### NOTE3. RELATED PARTY TRANSACTIONS In accordance wilh a services agreement, the Company's affiliate pays for various specified expenses and for various other expenses, such as sundry professional services, for which the Company does not reimburse the affiliate. The affiliate agreed to pay approximately \$62,000 on behalf of the Company without seeking reimbursement. The Company owes its affiliate compensation expense of \$3,437 as of June 30, 2020, which is included in accounts payable on the statement of financials condition. #### NOTE4. NET CAPITAL REQUIREMENTS The Company is subject to tbe Securities and Exchange Commission Unifonn Net Capital Rule l 5c3-1 This Rule requires the maintenance of minimum net capital and that the ratio of aggregate indebtedness to net capital both as defined shall not exceed 15 to 1 and that equity capital may not be withdrawn or cash dividends paid if the resulting net capital ratio would exceed l Oto l. At June 30, 2020 the Company's net capital was \$15,046 which was approximately \$10,046 in excess of its minimum requirement of \$5,000. {7}------------------------------------------------ ## **SEXTANT SECURITIES, LLC NOTES TO FINANCIAL STATEMENTS** ### **JUNE 30, 2020** #### NOTES. COMPLIANCE WITH RULE 15C3-3 The Company does not handle cash or securities on behalf of customers and accordingly bas no obligation under SEC Rule 15c3-3. #### NOTE6. COVID-19 During the 2020 calendar year, the World Health Organization has declared COVID-19 to constitute a "Public Health Emergency of International Concern". This pandemic has disrupted economic markets and the economic impact, duration and spread of the COVID-19 virus is uncertain at this time. The financial performance of the Company is subject to future developments related to the COVIC-19 outbreak and possible government advisories and restrictions placed on the financial markets and business activities. The impact on financial markets and overall economy, all of which are highly uncertain, cannot be predicted. lf the financial markets and/or overall economy are impacted for an extended period, the company's results may be materially affected. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.