# PRIME DECISION CONSULTING LLC X-17A-5 (2022-03-24) — Broker-dealer annual report - Company: PRIME DECISION CONSULTING LLC - Form: X-17A-5 - Filed: 2022-03-24 - Period: 2021-12-31 - Accession: 0001721272-22-000001 - CIK: 1721272 - File #: 8-70042 - Type: Broker-dealer - Material weakness: No - Auditor: Rubio CPA, PC - Auditor location: Atlanta, CA - Contact: Brian Megenity - Phone: 7702636003 - Email: begenity@bdcaonline.com - Website: bdcaonline.com - Signed by: Graham Smith (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1721272/000172127222000001/pdcpuba.pdf --- {0}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** > **ANNUAL REPORTS FORM X-17A-5 PART** Ill OMBAPPROVAL 0MB Number: 3235-0123 Expires: Oct. 31, 2023 Estimated average burden hours per response: 12 SEC FILE NUMBER 8-70042 **FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and lSa-7 under the Securities Exchange Act of 1934** FILING FOR THE PERIOD BEGINNING **0 1/01 /21** MM/DD/YY AND ENDING **12/31 /21** MM/DD/YY **A. REGISTRANT IDENTIFICATION** NAME oF FIRM: Prime Decision Consulting LLC TYPE OF REGISTRANT (check all applicable boxes): ~ Broker-dealer □ Security-based swap dealer □ Major security-based swap participant □ Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) 1221 Ocean Avenue, Suite 908 (No. and Street) Santa Monica CA 90401 (City) (State) (Zip Code) PERSON TO CONTACT WITH REGARD TO THIS FILING Brian Megenity (770) 263-6003 begenity@bdcaonline.com (Name) (Area Code - Telephone Number) (Email Address) **B. ACCOUNTANT IDENTIFICATION** INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* Rubio CPA, PC (Name - if individual, state last, first, and middle name) 2727 Paces Ferry Rd SE, Suite 2-1680 Atlanta GA 30339 (Address) (City) (State) (Zip Code) 05/05/2009 3514 rt• of **Regl-tloo with** PCAOB}llf appllo,ble) **FOR OFFICIAL USE ONLY** (PCAOB Registratloo N,mbe,, If appllcab~J I \* Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(l)(ii), if applicable. **Per5on5 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.** | (No. and Street) | | | | | |----------------------------------------------|---------|------------|--|--| | Santa Monica | CA | 90401 | | | | (City) | (State) | (Zip Code) | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | {1}------------------------------------------------ ### **OATH OR AFFIRMATION** | I, Graham Smith | swear (or affirm) that, to the best of my knowledge and belief, the | | |--------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------|-------| | financial report pertaining to the firm of Prime Decision Consulting LLC | | as of | | 2~
12/31 | is true and correct. I further swear (or affirm} that neither the company nor any | | | as that of a customer. | partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely | | Signature: if --- Title: CEO ### **This filing\*\* contains (check all applicable boxes):** - **iii** (a) Statement of financial condition. - **iii** (b) Notes to consolidated statement of financial condition. - □ (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).** - □ (d) Statement of cash flows. - □ (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - □ (f) Statement of changes in liabilities subordinated to claims of creditors. - □ (g) Notes to consolidated financial statements. - □ (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - □ (i) Computation of tangible net worth under 17 CFR 240.18a-2. - □ (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - □ (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - □ (I) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. - □ (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - □ (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable. - D (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-l, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist. - D (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - **iii** (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. - D (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - □ (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - iii (t) Independent public accountant's report based on an examination of the statement of financial condition. - D (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - D (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - □ (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - D (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-le or 17 CFR 240.17a-12, as applicable. - D (y) Report describing any material inadequacies found to exist or found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). D(z) Other: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_ - - \*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.1Ba-7(d)(2), as applicable. {2}------------------------------------------------ | A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificate
is attached, and not the truthfulness, accuracy, or
valid it of that document. | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | State of California
County of Los Anqeles | | Subscribed and sworn to (or affirmed) before me on this 23rd
____
day of March
, 20 22 , by _G_ra_h_a_m_S_m_i_th
_ | | proved to me on the basis of satisfactory evidence to be the
person(s) who appeared before me .
•••••••• f | | CARLOS L. MANUEL
Notary Public • California
i
Los Angeles County
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Commission# 2274149
My Comm. Expires Jan 3, 2023
(Seal) | {3}------------------------------------------------ Prime Decision Consulting, **LLC** Financial Statements For the Period Ended December 31 , 2021 With Independent Auditor's Report {4}------------------------------------------------ **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 Member of Prime Decision Consulting LLC Opinion on the Financial Statement We have audited the accompanying statement of financial condition of Prime Decision Consulting LLC (the ''Company'') as of December 31, 2021, and the related notes. In our opinion, the aforementioned financial statement presents fairly, in all material respects, the financial position of the Company as of December 31, 2021, in conformity with accounting principles generally accepted in the United States of America. Basis of 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 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 financial statement is 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 statement, 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 statement. 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 statement. We believe that our audit provides a reasonable basis for our opinion. We have served as the Company's auditor since 2019. March 18, 2022 Atlanta, Georgia > **1LJ,o,u>A,PG** Rubio CPA, PC {5}------------------------------------------------ # **Prime Decision Consulting LLC Statement of Financial Condition As of December 31, 2021** ## **Assets** | Cash
Accounts Receivable
Prepaid expenses
Other | \$
109,405
38,193
3,216
225 | |----------------------------------------------------------|-----------------------------------------| | Total assets | \$
151,039 | | Liabilities and member's equity
Liabilities | | | Due to Related Party
Due to Member | \$
4,579
425 | | Total liabilities | 5,004 | | Member's equity | 146,035 | | Total liabilities and member's equity | \$
151,039 | {6}------------------------------------------------ ## **PRIME DECISION CONSULTING LLC NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021** #### Note 1 **Organization and Summary of Significant Accounting Policies** ## **Organization and Description of Business** Prime Decision Consulting LLC (the "Company") was formed on 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 ("FINRA"). The Company provides referrals of accredited Institutional investors to other broker dealers. As a limited liability company, the member's liability is limited to its investment. ## **Revenue Recognition** Revenue from contracts with customers includes referral fees earned from contracts with other broker dealers to transact on behalf of customers referred by the Company. Fees are transaction based, including trade execution services, and are recognized at the point in time that the transaction is executed, i.e., the trade date, as this is when the customer obtains control of the asset and can direct the use of and obtain substantially all of the remaining benefits from the asset. ## **Income Taxes** The Company is included in the consolidated tax return of its Member. The Company's Member was taxed as a corporation prior to its election to be taxed as an S-corporation effective January 1, 2021. As a result of this election, no federal or state income taxes are included in the accompanying financial statements as they are the responsibility of the owner of the Member. 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 customer. 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 credit losses 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 DECEMBER 31, 2021** ### Note 1 **Organization and Summary of Significant Accounting Policies (continued)** ## **Use of Estimates (continued)** accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses. 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") up 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 2021. ### 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, 2021, the Company had net capital of \$104,401, which was \$99,401 in excess of its required net capital of \$5,000 and its ratio of aggregate indebtedness to net capital was 0.05 to 1.00. ### Note 5 **Related Party Transactions** The Company has an intercompany services agreement with its Member. Pursuant to the agreement, the member provides personnel, operating and other services to the Company. The Company expensed approximately \$5,100 during the year ended December 31, 2021 for these services. The amount due to member on the accompanying statement of financial condition arose from this agreement. Separately, the Company occupies office space provided by its chief executive officer under an informal arrangement. Rent is allocated to the Company based upon its estimated usage. The amount of rent expense incurred pursuant to this arrangement for the year ended December 31, 2021 was approximately \$32,505. In addition, the chief executive officer at times pays for certain expenses of the Company for which reimbursement is subsequently requested. The amount due to related party on the accompanying statement of financial condition arose from these arrangements. Financial position and results of operations could differ from the amounts in the financial statements if these transactions did not exist. #### Note 6 **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. {8}------------------------------------------------ ## **PRIME DECISION CONSULTING LLC NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021** ### Note 7 **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. ### Note 8 **Concentrations** During 2021, the Company had four customers that accounted for all of referral fees revenues. All of accounts receivable at December 31, 2021 is due from three customers. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.