# SERIESONE SECURITIES, LLC X-17A-5 (2022-09-29) — Broker-dealer annual report - Company: SERIESONE SECURITIES, LLC - Form: X-17A-5 - Filed: 2022-09-29 - Period: 2022-06-30 - Accession: 0001745922-22-000001 - CIK: 1745922 - File #: 8-70158 - Type: Broker-dealer - Material weakness: No - Auditor: HLB Gravier, LLP - Auditor location: Coral Cables, FL - Contact: Kathy Efrem - Phone: 212-897-1686 - Website: hlbgravier.com - Signed by: Kathy Efrem (FinOp) Original filing: https://www.sec.gov/Archives/edgar/data/1745922/000174592222000001/sers22s.pdf --- {0}------------------------------------------------ # SERIESONE SECURITIES, LLC # FINANCIAL STATEMENT For the year ended June 30, 2022 {1}------------------------------------------------ #### **UNITED STATES SECURITIES AND EXCHANGE COMMISSION** Washington, D.C. 20549 # **ANNUAL REPORTS FORM X-17A-5 PART** Ill | 0MB APPROVAL | |--------------------------| | 0MB Number: 3235-0123 | | Expires: Oct. 31, 2023 | | Estimated average burden | | hours per response: 12 | | SEC FILE NUMER | 8- 69876 **FACING PAGE** **Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934** | FILING FOR THE PERIOD BEGINNING | _0_?_/0_1_f_2_1 __ | AND ENDING | 06/30/22 | | | | | | | |---------------------------------|--------------------|------------|----------|--|--|--|--|--|--| | | MM/DD/YY | | MM/DD/YY | | | | | | | | A. REGISTRANT IDENTIFICATION | | | | | | | | | | # NAME OF FIRM: SERIESONE SECURITIES, LLC TYPE OF REGISTRANT (check all applicable boxes): ~ Broker-dealer D Security-based swap dealer D Major security-based swap participant D Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) # 42 Broadway, Suite 12-129 | | | {No. and Street) | | | | |-----------------------------------------------------------------------------------------------|--|------------------------------------------------------------|------------------------------|------------|--| | New York | | NY | | 10004 | | | (City) | | (State) | | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | Kathy Efrem | | (212) 897-1686 | kefrem@integrated .solutions | | | | (Name) | | (Area Code - Telephone Number) | (Email Address) | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
HLB Gravier, LLP | | | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | 396 Alhambra Circle, Suite 900 Coral Gables | | | FL | 33134 | | | (Address) | | (City) | (State) | (Zip Code) | | | 09-01
/2009 | | | 3676 | | | | (Date of Registration with PCAOB)(if applicable)
(PCAOB Registration Number, ifapplicable) | | | | | | | | | FOR OFFICIAL USE ONLY | | | | \* 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. **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.** {2}------------------------------------------------ #### **OATH OR AFFIRMATION** I, Kathy Efrem , swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to SERIESONE SECURITIES, LLC as of 06/30/22 • is true and correct. I further swear (or affirm) that neither the company nor any partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely as that of a customer. **Signature** ~'2 Title U **Notary Public** {3}------------------------------------------------ ### **This filing\*\* contains (check all applicable boxes):** - **[EJ** (a) Statement of financial condition. - **[EJ** (b) Notes to unconsolidated or consolidated statement of financial condition, as applicable. - **D** (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** (d) Statement of cash flows. - **D** (e) Statement of changes in stockholders' or partners' or members' or sole proprietor's equity, as applicable. - **D** (f) Statement of changes in liabilities subordinated to claims of creditors. - **D** (g) Notes to unconsolidated or consolidated financial statements,, as applicable. - **D** (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-l, as applicable. - **D** (i) Computation of tangible net worth under 17 CFR 240.18a-2. - **D** (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.1Sc3-3. - **D** (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. - **D** (I) Computation for Determination of PAB Requirements under Exhibit A to§ 240.15c3-3. - **D** (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - **D** (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-1, 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 financia l condition. - IE) (q) Oath or affirmation in accordance wit h 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.l 7a-5 or 17 CFR 240.18a-7, as applicable. - **D** (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - **[EJ** (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. - **D** (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-S 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). (z) Other:-------------------------------------- - **D** *\*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5{e}{3} or 17 CFR 240.18a-* *7(d){2}, as applicable.* {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Members of SeriesOne Securities, LLC ### Opinion on the Financial Statement We have audited the accompanying statement of financial condition of SeriesOne Securities, LLC as of June 30, 2022, and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of SeriesOne Securities, LLC as of June 30, 2022 in conformity with accounting principles generally accepted in the United States of America. ### **Basis for Opinion** This financial statement is the responsibility of SeriesOne Securities, LLC's management. Our responsibility is to express an opinion on SeriesOne Securities, LLC's financiaJ 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 SeriesOne Securities, LLC 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 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 for our opinion. #### **Emphasis of Matter** As discussed in Note 6 to the financial statements, the Company is dependent on its member to provide financial support for its operations. The Company's ability to continue operations is dependent upon the member's willingness to and ability to continue providing the necessary capital for the Company. /l~b *jl* faAHA @ HLB Gravier, LLP / We have served as SeriesOne Securities, LLC's auditor since 2020. Coral Gables, Florida September 28, 2022 396 Alhambra Circle. Suite 900. Coral Gables. FL 33134 • Tel: 305.446.3022 • Fax: 305.446.6319 www.hlbgravier.com HLB Grav1e~ llP 1s a member of 8 International. A world-wide organization of actounung fums and business advisers. {5}------------------------------------------------ ## **SERIESONE SECURITIES, LLC** ### **STATEMENT OF FINANCIAL CONDITION** #### **JUNE 30, 2022** #### **ASSETS** | Cash and cash equ
ivalents | \$
10,459 | |---------------------------------------|---------------| | Prepaid assets | 1,114 | | Total assets | 11,573 | | LIABILITIES AND MEMBERS' EQUITY | | | Liabilities: | | | Accounts payable | 2,089 | | Members' Equity | 9,484 | | Total liabilities and members' equity | \$
11 ,573 | **The accompanying notes are an integral part of this financial statement,** {6}------------------------------------------------ # **SERIESONE SECURITIES, LLC NOTES TO FINANCIAL STATEMENT** ### **JUNE 30, 2022** #### NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS SeriesOne Securities, LLC (the "Company") is a broker dealer registered with the Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA") 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. #### NOTE 2. 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. #### Cash Equivalents The Company considers money market mutual funds and other highly-liquid investments with original maturities of three months or less to be cash equivalents. #### Income Taxes The Company is a limited liability company, treated as a partnership for federal and state income tax purposes; it therefore does not incur income taxes at the Company level. Instead its earnings and losses are passed through to the members and included in the calculation of each member's tax liability. Accordingly, no provision for income taxes has been made in the accompanying financial statements. The Company is subject to New York City Unincorporated Business Tax. #### 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 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. {7}------------------------------------------------ # **SERIESONE SECURITIES, LLC NOTES TO FINANCIAL STATEMENT** ### **JUNE 30, 2022** #### NOTE3. RELATED PARTY TRANSACTIONS In accordance with a services agreement, the Company's affiliate pays for various specified expenses for which the Company compensates the affiliate in the form of a management fee and for various other expenses, such as sundry professional services, for which the Company does not reimburse the affiliate. The affiliate agreed to pay other expenses on behalf of the Company without seeking reimbursement. #### NOTE4. NET CAPITAL REQUIREMENTS The Company is subject to the Securities and Exchange Commission Uniform Net Capital Rule 15c3-1 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 thereafter and that equity capital may not be withdrawn or cash dividends paid if the resulting net capital ratio would exceed 10 to 1. At June 30, 2022 the Company's net capital was \$8,641 which was \$3,641 in excess of its minimum requirement of \$5,000. #### NOTES. COMPLIANCE WITH RULE 15C3-3 The Company does not handle cash or securities on behalf of customers and accordingly has no obligation under SEC Rule I 5c3-3. #### NOTE6. GOING CONCERN Accounting Standards Update 2014-15 requires that management evaluate conditions or events that might raise substantial doubt about the Company's ability to continue as a going concern. Management has evaluated the Company's conditions and has determined that unless the Company generates enough revenue or continues to be funded by its members, there is substantial doubt about the Company's ability to continue as a going concern. Capital is not a significant income producing factor but should the Company have a need for capital it will be able to rely upon its members to infuse capital to cover overhead should that become necessary. #### NOTE 7. EMPHASIS OF MA TIER As discussed in Note 6 to the financial statements, the Company is dependent on its member to provide financial support for its operations. The Company's ability to continue operations is dependent upon the member's willingness to and ability to continue providing the necessary capital for the Company. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.