# WINTERFLOOD SECURITIES US CORPORATION X-17A-5 (2022-09-26) — Broker-dealer annual report

- Company: WINTERFLOOD SECURITIES US CORPORATION
- Form: X-17A-5
- Filed: 2022-09-26
- Period: 2022-07-31
- Accession: 0001760628-22-000001
- CIK: 1760628
- File #: 8-70259
- Type: Broker-dealer
- Material weakness: No
- Auditor: Citrin Cooperman & Company, LLP
- Auditor location: New York, NY
- Contact: Janice Parise
- Phone: 2127514422
- Signed by: John Schraff (CEO)

Original filing: https://www.sec.gov/Archives/edgar/data/1760628/000176062822000001/wsussfc7312022.pdf

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

# ANNUAL AUDITED REPORT FORM X-17A-5 PART III

OMB APPROVAL OMB Number: 3235-0123 Expires: October 31, 2023 Estimated average burden hours per response... 12.00

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8-70259

FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 REPORT FOR THE PERIOD BEGINNING 08/01/2021 AND ENDING MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION NAME OF FIRM: WINTERFLOOD SECURITIES US CORPORATION TYPE OF REGISTRANT (check all applicable boxes): □Security-based swap dealer �Broker-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 P.O. Box No.) 146 Broadway (No. and Street) New York NY 10036 (City) (State) (Zip Code) PERSON TO CONTACT WITH REGARD TO THIS FILING 212 751-4422 Janice Parise (Name) (Email Address) (Area Code - Telephone Number) B. ACCOUNTANT IDENTIFICATION INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report\* Citrin Cooperman & Company, LLP (Name – if individual, state last, first, middle name) 50 Rockefeller Center New York NY 10020 (Address) (City) (State) (Zip Code) 11/02/2005 2468 (Date of Registration with PCAOB)(if applicable) (PCAOB Registration Number, if applicable) FOR OFFICIAL USE ONLY

\* Claims for exemption from the requirement that the annual 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)(1)(ii), if applicable. Persons who are to respond to the collection of inthis form are not required to respond unless the form displays a currently valid OMB control number.

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#### OATH OR AFFIRMATION

l, John Schraff, swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of Winterflood Securities US Corporation, as of July 31, 2022, 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 propriets in any account .le company in any partify a customer.

|  | DocuSigned by:                                                                                                                                                                                                                                                                                                                                                                                          |
|--|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | John Schraff<br>64122445673D4FE                                                                                                                                                                                                                                                                                                                                                                         |
|  | John Schraff - CEO                                                                                                                                                                                                                                                                                                                                                                                      |
|  | JANICE PARISE<br>Notary Public, State of New York<br>No. 41-4968956<br>Qualified in Queens County<br>Commission Expires July 9, 202<br>Nøtary Public                                                                                                                                                                                                                                                    |
|  |                                                                                                                                                                                                                                                                                                                                                                                                         |
|  | This filing ** contains (check all applicable boxes):<br>& (a) Statement of financial condition.                                                                                                                                                                                                                                                                                                        |
|  | (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.                                                                                                                                                                                                                                                                                                                     |
|  | O (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.<br>[i) Computation of tangible net worth under 17 CFR 240.18a-2.                                                                                                                                                                                                                                          |
|  |                                                                                                                                                                                                                                                                                                                                                                                                         |
|  | 口    (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.                                                                                                                                                                                                                                                                                                                                                           |
|  | [1) 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.                                                                                                                                                                                                                                                                                                 |
|  | [1] Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-<br>3(p)(2) or 17 CFR 240.18a-4, as applicable.                                                                                                                                                                                                                                  |
|  | □ (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net<br>worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-2, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17<br>CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences<br>exist. |
|  | □ (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition.                                                                                                                                                                                                                                                                                              |
|  | & (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.                                                                                                                                                                                                                                                                                   |
|  | [] (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.                                                                                                                                                                                                                                                                                                         |
|  | 2 (t) Independent public accountant's report based on an examination of the statement of financial condition.                                                                                                                                                                                                                                                                                           |
|  | (u) Independent public accountant's report based on an examination of the financial statements under 17<br>CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable.                                                                                                                                                                                                                        |
|  | □ (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17<br>CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.                                                                                                                                                                                                                       |
|  | മ    (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR<br>240.18a-7, as applicable.                                                                                                                                                                                                                                                 |
|  | [] (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as<br>applicable.                                                                                                                                                                                                                                                           |
|  | 0    (y) Report describing any material inadequacies found to have existed since the date of the previous audit, or a<br>statement that no material inadequacies exist, under 17 CFR 240.17a-12(k).                                                                                                                                                                                                     |
|  | (z) Other:<br>** 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<br>applicable.                                                                                                                                                                                                                                          |

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WINTERFLOOD SECURITIES US CORPORATION Statement of Financial Condition July 31, 2022

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## WINTERFLOOD SECURITIES US CORPORATION Table of Contents July 31, 2022

|                                                         | Page(s) |
|---------------------------------------------------------|---------|
| Report of Independent Registered Public Accounting Firm |         |
| Statement of Financial Condition                        |         |
| Notes to the Financial Statement                        |         |

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![](_page_4_Picture_0.jpeg)

Citrin Cooperman & Company, LLP Certified Public Accountants

50 Rockefeller Plaza New York, NY 10020 T 212.697.1000 F 212.697.1004 citrincooperman.com

### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholder Winterflood Securities US Corporation

### Opinion on the Financial Statement

We have audited the accompanying statement of financial condition of Winterflood Securities US Corporation as of July 31, 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 Winterflood Securities US Corporation as of July 31, 2022, in conformity with accounting principles generally accepted in the United States of America.

### Basis for Opinion

This financial statement is the responsibility of Winterflood Securities US Corporation's management. Our responsibility is to express an opinion on Winterflood Securities US Corporation'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 Winterflood Securities US Corporation 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 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 Winterflood Securities US Corporation's auditor since 2019. New York, New York September 23, 2022

<sup>&</sup>quot;Citin Cooperman" is the brand under which Cooperman & Company, LLP, a licensed independent CPA from, and Citin Cooperman Advisors LIC serve clients' business needs. The two firms operate as separate legal entities in an alternative practice structure. Citin Cooperman is an independent member of Moore North America, which is itself a regional member of Moore Global Network Limited (MGNL).

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### WINTERFLOOD SECURITIES US CORPORATION Statement of Financial Condition As of July 31, 2022

| Assets                                                    |      |           |
|-----------------------------------------------------------|------|-----------|
| Cash                                                      |      | 1,120,674 |
| Due from affiliate                                        |      | 68,440    |
| Accounts receivable customer                              |      | 12,030    |
| Other assets                                              |      | 11.688    |
| Total assets                                              | ક    | 1,212,832 |
| Liabilities and Stockholder's Equity                      |      |           |
| Fail to receive                                           | ક    | 12,030    |
| Accounts payable and other accrued expenses               |      | 166,893   |
| Total liabilities                                         |      | 178,923   |
| Stockholder's equity                                      |      |           |
| Common stock (\$.0001 par value, 2,000 shares authorized, |      |           |
| 890 shares issued and outstanding)                        |      |           |
| Additional paid-in capital                                |      | 890,000   |
| Retained earnings                                         |      | 143,909   |
|                                                           |      |           |
| Total stockholder's equity                                |      | 1,033,909 |
| Total liabilities and stockholder's equity                | ಕ್ಕಿ | 1,212,832 |

The accompanying notes are an integral part of this financial statement.

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## WINTERFLOOD SECURITIES US CORPORATION Notes to the Financial Statement As of July 31, 2022

or acquired. The expected credit losses are adjusted each period for changes in expected lifetime credit losses. The methodology replaces the multiple existing impairment methods in current U.S. GAAP, which generally require that a loss be incurred before it is recognized. Under the accounting update, the Company has the ability to determine there are no expected credit losses in certain circumstances (e.g., based on collateral arrangements or based on the credit quality of the borrower or issuer).

For certain financial assets measured at amortized cost (e.g. cash and accounts receivable customer), the Company has concluded that there are de minimis expected credit losses based on the nature and contractual life or expected life of the financial assets and immaterial historic and expected losses.

#### 3. Receivable From and Payable To Customers

Amounts receivable from and payable to customers at July 31, 2022 consists of securities failed to receive of \$12,030.

#### 4. Related-Party Transactions

The Company has entered into an Expense Sharing Agreement ("ESA") as of August 20, 2019 with the Affiliate whereby the Affiliate is to provide employment related and office and administrative related services to the Company. During 2022, the Company amended its ESA as such that a section was added to clarify that the Company shall be solely responsible for all its tax liabilities.

In addition, as per the terms of the ESA, the Affiliate shall pay to the Company an amount equal to 108%, or such other mark-up as may be agreed from time to time, of all of the expenses of the Company. As related to the 2022 amendment to the Company's tax liabilities will be excluded from the 108% mark-up.

There is a net Due from affiliate in the amount of \$68,440 on the accompanying Statement of Financial Condition. These balances are net settled periodically throughout the year.

#### 5. Income Taxes

The Company provides for income taxes in accordance with the asset and liability method and recognizes deferred income taxes for the expected future tax consequences of differences in the book and tax bases of assets and liabilities and available net operating loss carryforwards. The Company has accrued approximately \$17,000 for current federal, state and local income taxes.

The Company adopted the general accounting principle regarding uncertain tax positions. Management believed that the Company does not have any uncertain tax positions as of July 31, 2022. Generally, the Company's tax returns are subject to examination by federal, state, and local authorities for all periods since inception. The Company recognizes and measures its unrecognized tax positions in accordance with ASC 740, Income Taxes. Under that guidance the Company assesses the likelihood, based on their technical merit, that tax positions will be sustained upon examination based on the facts, circumstances and information available at the end of each period. The measurement of unrecognized tax positions is adjusted when new information is available, or when an event occurs that requires a change. Interest and penalties associated with unrecognized income tax positions, if identified, are classified as additional income tax expense in the statement of operations. The Company is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any periods in progress.

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