# PRIME DECISION CONSULTING LLC X-17A-5/A (2021-03-25) — Broker-dealer annual report - Company: PRIME DECISION CONSULTING LLC - Form: X-17A-5/A - Filed: 2021-03-25 - Period: 2020-12-31 - Accession: 0001721272-21-000003 - CIK: 1721272 - File #: 8-70042 - Material weakness: No - Auditor: Rubio CPA, PC - Auditor location: Atlanta, GA - Contact: Brian Megenity - Phone: 6785752056 - Signed by: Graham Smith (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1721272/000172127221000003/pdcauditpublic2.pdf --- {0}------------------------------------------------ | UNITED STATES | |------------------------------------| | SECURITIES AND EXCHANGE COMMISSION | | Washington, D.C. 20549 | #### ANNUAL AUDITED REPORT FORM X-17A-5 PART 111 OMB APPROVAL OMB Number Expires October 31, 2023 Estimated average burden hours per response ... I 2.00 | SEC FILE NUMBER | | |-----------------|--| | 8- 70042 | | #### 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 | 01/01/20
MM DD/V Y | AND ENDING | 12/31/20
MM DD/Y Y | | |--------------------------------------------------------------------------------------------------|-----------------------------------------------------|------------|--------------------------------------------------|--| | | A. REGISTRANT IDENTIFICATION | | | | | NAME OF BROKER-DEALER: | | | OFFICIAL USE ONLY | | | Prime Decision Consulting LLC | | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.)
13 East 16th Street, Ste 8R | | | FIRM LD. NO. | | | | (No. and Street) | | | | | New York | NY | | 10003 | | | (City) | (State) | | (Zip Code) | | | NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS REPORT
Brian Megenity | | | (770) 263-6003
(Area Code . Telephone Number) | | | | B. ACCOUNTANT IDENTIFICATION | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in the Report®
Rubio CPA, PC | | | | | | | (Name of marvidual, state last, first, middle name) | | | | | 2727 Paces Ferry Rd SE, Ste 2-1680 | Atlanta | Georgia | 30339 | | | (Address) | (Cily) | (State) | (Zip ('ode) | | | CHECK ONE: | | | | | | [ Certified Public Accountant | | | | | | Public Accountant | | | | | | Accountant not resident in United States or any of its possessions. | | | | | | | FOR OFFICIAL USE ONLY | | | | | | | | | | | | | | | | \*Claims for exemption from the requirement that the amual report be covered by the opinton of an maest must be supported by a statement of facts and circumstances relied on as the bosis for the exemption. See Section 240.17a-5101(2) SEC 1410 (11-05) Potential persons who are to respond to the collection of unless the form displays a currently valid OMB control number. {1}------------------------------------------------ #### OATH OR AFFIRMATION | Graham Smith
I. | . swear (or affirm) that. to the best of | |----------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------| | my knowledge and belief the accompanying financial statement and supporting schedules peraining to the firm of | | | Prime Decision Consulting LLC | ર | | December 31, 2020. are true and correct. I further swear (or affirm) that
of | | | neither the company nor any partner, principal officer or director has any proprietary interest in any account | | | classified solely as that of a customer, except as follows: | | | | | | | | | | | | | | | | | | | Signature | | | | | | Tille | | | | | Notary Public | ALSON D O'GARRO | | | Notary Public - State of Florida | | This report ** contains (check all applicable boxes): | Commission # GG 245268
My Comm. Expires Aug 2, 2022 | | (a) Facing Page. | | | (b) Statement of Financial Condition. | | | (c) Statement of Income (Loss). | | | (d) Statement of Changes in Financial Condition. | | | (e) Statement of Changes in Stockholders' Equity or Partners' or Sole Proprietors' Capital. | | | (f) Statement of Changes in Liabilities Subordinated to Claims of Creditors. | | | (g) Computation of Net Capital. | | | (h) Computation for Determination of Reserve Requirements Pursuant to Rule 15c3-3. | | | (i) Information Relating to the Possession or Control Requirements ( nder Rule 15c3-3. | (j) A Reconciliation, including appropriate explanation of the Computation of Net Capital Under | | | Rule 15c3-1 and the Computation for Determination of the Reserve Requirements Under Exhibit | | A of Rule 15c3-3. | | | (k) A Reconciliation, between the audited and unaudited Statements of Financial Condition with | | | respect to methods of consolidation. | | | (1) An Oath or Affirmation.
1 | | | (m) A copy of the SIPC Supplemental Report | | | | (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 240.17a-51e/13). PUBLICEY AVAILABLE {2}------------------------------------------------ Prime Decision Consulting, LLC Financial Statements For the Period Ended December 31, 2020 With Independent Auditor's Report {3}------------------------------------------------ **RUBIO CPA, PC** CERTIFIED PUBLIC ACCOUNTANTS 2727 Paces Ferry Road SE Building 2, Suite 1680 Atlanta, GA 30339 Office: 770 690-89 9 5 Fax: 770 838-7123 # **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member of Prime Decision Consulting LLC # Opinion on the Financial Statements We have audited the accompanying statement of financial condition of Prime Decision Consulting LLC (the ··company") as of December 3 I. 2020. the related statements of operations, changes in member"s equity. and cash tlo"s 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 the Company as of December 3 L 2020, 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 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 PC AOB. 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 . 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 or 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, a'i 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 infonnation contained in Schedules I. II and Ill has been subjected to audit procedures perfonned in conjunction ,..,·ith the **audit** of the Company's financial statements. The supplemental information is the responsibility of the Company's management. Our audit procedures included determining \.\-hether the information in Schedules I. II and III 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 accompanying schedules. In forming our opinion on the accompanying schedules. we evaluated whether the supplemental information, including its fom1 and content. is presented {4}------------------------------------------------ in conformity with 17 C.F.R. §240.17a-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 19, 2021 Atlanta. Georgia fisc PA, P Rubio CPA、PC {5}------------------------------------------------ # **Prime Decision Consulting, LLC Statement of Financial Condition December 31, 2020** ### **Assets** | Cash | \$
89,915 | |---------------------------------------|---------------| | Accounts Receivable | 30,409 | | Prepaid expenses | 6,196 | | Other assets | 280 | | Total assets | \$
126,800 | | | | | Liabilites and member's equity | | | Liabilities | | | Commissions payable | 20,088 | | Accounts payable and accrued expenses | \$
8,263 | | Total liabilities | 28,351 | | Member's equity | 98,449 | | Total liabilities and member's equity | \$
126,800 | {6}------------------------------------------------ ## **PRIME DECISION CONSULTING LLC NOTES TO FINANCIAL STATEMENTS VEAR ENDED DECEMBER 31, 2020** #### Note 1 **Organization and Summary of Significant Accounting Policies** #### **Organization and Business** PRIME DECISION CONSULTING LLC {"'Company") was formed November 16, 2016 under the laws of the state of New York. The Company is a broker-dealer, with a perpetual period of duration, registered with the Securities and Exchange Commission ("SEC") effective February 21, 2018. The Company is a member of the Financial Industry Regulatory Authority. The Company provides referrals of accredited Institutional investors to other broker dealers. #### **Income Taxes** The Company's taxable income or loss is included in consolidated corporate income tax returns filed by its sole member. The accompanying financial statements reflect the Company's income tax effects as if the Company filed separate tax returns. Income taxes are accounted for by the asset/liability approach. Deferred taxes represent the expected future tax consequences when the reported amounts of assets and liabilities are recovered or paid. They arise from differences between the financial reporting and tax bases of assets and liabilities and are adjusted for changes in tax laws and tax rates when those changes are enacted. The provision for income taxes represents the total of income taxes paid or payable for the current year, plus the change in deferred taxes during the year. The Company provides deferred taxes for differences in the timing of deductions for book and tax reporting purposes principally related to net operating loss carryforwards. Under the provisions of FASB Accounting Standards Codification 740-10, Accounting for Uncertainty in Income Taxes, the Company is required to evaluate each of its tax positions to determine if they are more likely than not to be sustained if the taxing authority examines the respective position. A tax position includes an entity's status and the decision not to file a return. The Company has evaluated each of its tax positions and has determined that no provision or liability for income taxes is necessary. ### **Accounts Receivable** Accounts receivable are non-interest bearing uncollateralized obligations receivable in accordance with the terms agreed upon with each client. The Company regularly reviews its accounts receivable for any uncollectible amounts. The review for uncollectible amounts is based on an analysis of the Company's collection experience, customer credit worthiness, and current economic trends. Based on management's review of accounts receivable, no allowance for doubtful accounts is considered necessary. ### **Use of Estimates** The preparation of financial statements in conformity with generally accepted {7}------------------------------------------------ ## **PRIME DECISION CONSULTING LLC NOTES TO FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2020** accounting principles 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 reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. #### Note 2 **Financial Instruments and Concentration of Risk** Financial instruments subject to risk concentration is cash. The Company maintains depository cash with one banking institution. Depository accounts are insured by the Federal Depository Insurance Corporation ("FDIC") to a maximum of \$250,000 per bank, per depositor. #### Note 3 **Contingencies** The Company is subject to litigation in the normal course of business. The Company had no litigation matters during 2020. #### Note 4 **Net Capital Requirements** The Company, as a registered broker dealer is subject to the Securities and Exchange Commission Uniform Net Capital Rule (Rule 15c3-1), 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, 2020, the Company had net capital of \$81,652, which was \$76,652 in excess of its required net capital of \$5,000 and its ratio of aggregate indebtedness to net capital was .35 to 1.0. #### Note 5 **Related Party Transactions** Effective December 2019, the Company has an administrative services agreement with the Parent. Pursuant to the agreement, the member provides administrative, human resources and other services. The Company paid the member approximately \$5,100 during the year ended December 31, 2020 for these services. In addition, the Company occupies office space provided by its chief executive officer under an informal month to month arrangement. Rent paid to the chief executive officer pursuant to the arrangement during 2020 was approximately \$31,644. Financial position and results of operations could differ from the amounts in the financial statements if these transactions did not exist. #### Note 6 **Regulatory Requirements** The Company does not claim an exemption from Rule 15c3-3 in reliance upon footnote 74 of SEC Release No. 34-70073 dated July 30, 2013, and as discussed in Question 8 of the related FAQ released by SEC staff on April 4, 2014. The Company does not hold customer funds or securities. {8}------------------------------------------------ ## **PRIME DECISION CONSULTING LLC NOTES TO FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2020** #### Note 7 **Subsequent Events** The Company has performed an evaluation of subsequent events through the date the financial statements were issued. The evaluation did not result in any subsequent events that required disclosures and/or adjustments. #### Note 8 **Income Taxes** The Company has a cumulative net operating loss of approximately \$104,000 at December 31, 2020 that is available to offset taxable income arising in future years. The potential deferred tax asset arising from this loss carryforward of approximately \$29,000 has been fully offset by a valuation allowance, as realization is considered less likely than not at December 31, 2020. Income tax expense in the statement of operations differs from the amount expected by applying applicable income tax rates to pretax income due to utilization of approximately \$33,000 of net operating loss carried forward from prior years. #### Note 9 **Economic Risks** In March 2020, The World Health Organization (WHO) declared COVID-19 a global pandemic. This pandemic event has resulted in significant business disruption and uncertainty in both global and U.S. markets. While the Company believes that it is in an appropriate position to sustain the short-term effects of these world-wide events, the direct and long-term impact to the Company and its financial statements is undetermined at this time. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.