# PANTEK PARTNERS ADVISORS LLC X-17A-5 (2025-03-03) — Broker-dealer annual report - Company: PANTEK PARTNERS ADVISORS LLC - Form: X-17A-5 - Filed: 2025-03-03 - Period: 2024-12-31 - Accession: 0001777805-25-000001 - CIK: 1777805 - File #: 8-70345 - Type: Broker-dealer - Material weakness: No - Auditor: HTL INTERNATIONAL, LLC - Auditor location: HOUSTON, TX - Contact: JOHN BELL - Phone: 858-605-1607 - Email: jack@panteksecurities.com - Website: panteksecurities.com - Signed by: JOHN BELL (CEO | MANAGING DIRECTOR) Original filing: https://www.sec.gov/Archives/edgar/data/1777805/000177780525000001/pantekaudit24.pdf --- {0}------------------------------------------------ | | UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D,C. 20549 | (MMR ADppWAL
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hours per response: | |--------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------| | | ANNUAL REPORTS | SEC FILE NUMBER | | | FORM X-17A-5 | 8-70345 | | | PART Ill | | | | FACING PAGE
Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | | | | 01/01/2024 | 12/31/2024
AND ENDING | | FILING FOR THE PERIOD BEGINNING | MM/DD/YY | MM/DD/YY | | | A. REGISTRANT IDENTIFICATION | | | ]Ahfff[iRR" | Pantek Partners Advisors LLC OBA Pantek Securities LLC | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.0. box no.)
954 Aven Ponce De Leon, Suite #403B
(No. and Street) | | | San Juan | PR | 00907 | | (City) | (State) | (Zip Code) | | PERSON TO CONT ACT WITH REGARD TO THIS FILING | | | | | | | | | | jack@panteksecurities.com | | | (858) 605-1607
(Area Code - Telephone Number) | (Email Address) | | | B. ACCOUNTANT IDENTIFICATION | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing | | | | (Name - if individual, state last, first, and middle name) | | | 12 Greenway Plaza, Suite 1100 | Houston | 77046
TX | | HTL International, LLC | (City) | (Zip Code)
(State) | | 2/16/2023 | | 7000 | | | | | | John Bell
(Name)
(Address)
(Date of Registration with PCAOB)(if applicable) | FOR OFFICIAL USE ONLY | (PCAOB Registration Number, if applicable] | {1}------------------------------------------------ #### OATH **OR AFFIRMATION** | | I, John Ben
swear (or affirm) that, to the best of my knowledge and belief, the | |--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | financial report pertaining to the firm of
Pantek Partners Advisors LLC DBA Pantek Securities LLC
as of | | | 12/31
20?", is true and correct. I further swear (or affirm) that neither the company nor any | | | partner, officer, director, or equiv: er
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; | | | comprehensive income (as defined in 5 210.1-02 of Regulation S-X). | | i | (d) Statement of cash flows. | | i | (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. | | fl | (f) statement of changes In liabilities subordinated to claims of creditors.
a (g)Notes to consolidated financial statements. | | | a (h) Computation of net capital under 17 CFR 240.15c3-1 0r 17 CFR 240.18a-1, as applicable. | | | | | El | (i) Computation of tangible net worth under 17 CFR 240.18a-2. | | E | E] () 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. | | | [ (l) Computation for Determination of PAB Requirements under Exhibit A to 5 240.15c3-3. | | | 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. | | | ii (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 0r 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 consolldated In the statement of financial condition. | | | i (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, 0r 17 CFR 240.18a-7, as applicable. | | [
a | (r)Compliance report in accordance with 17 CFR 240.17a-5 0r 17 CFR 240.18a-7, as applicable. | | | (s) Exemption report in accordance with 17 CFR 240.17a-5 0r 17 CFR 240.18a-7, as applicable. | | | D (t) Independent public accountant's report based on an examination of the statement of flnanclal condition. | | liiiil | (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 | | D | 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
CFR 240.17a-5 0r 17 CFR 240.18a-7, as applicable. | | | | | | fa (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. | | @j | () Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240,15c3-1e 0r 17 CFR 240.17a-12, | | | as applicable. | | [ | (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 materlal 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 240.18-7(d)(2), as
applicable. | {2}------------------------------------------------ #### PANTEK PARTNERS ADVISORS, LLC Statement of Financial Condition For the year ended December 31, 2024 (With Report of Independent Registered Public Accounting Firm Thereon) {3}------------------------------------------------ # Table of Contents | Report of Independent Registered Public Accounting Firm | 3 | |---------------------------------------------------------|---| | Financial Statements | | | Statement of Financial Condition | 4 | | Notes to the Statement of Financial Condition | 5 | {4}------------------------------------------------ # **HTL INTERNATIONAL CPAS & BUSINESS ADVISORS** # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Director and Member of the Board Pantek Partners Advisors LLC #### Opinion on The Financial Statements We have audited the accompanying statement of financial condition of Pantek Partners Advisors LLC (the "Company") as of December 31, 2024, and the related notes (collectively referred to as "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024, in accordance 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 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 standards of the PCAOB. Those standardsrequire that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risk of material misstatement of the financial statements, 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 assessing 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. *HT L/teratioval, LLC* HTL International, LLC We have served as Pantek Partners Advisors LLC auditor since 2024 Houston, TX February 28, 2025 {5}------------------------------------------------ #### PANTEK PARTNERS ADVISORS, LLC Financi al Statements Statement of Financial Condition As of December 31, 2024 | ASSETS | | |----------------------------------------------------------|---------------| | Cash | \$
106,676 | | Accounts receivable | 6,000 | | Prepaid expenses and deposits | 18,790 | | TOTAL ASSETS | \$
131,466 | | LIABILITIES AND MEMBER'S EQUITY | | | LIABILITIES | | | Broker payable | 3,900 | | Accounts payable, accrued expenses and other liabilities | 53,595 | | TOTAL LIABILITIES | \$
57,495 | | | | | Commitments and contingencies | - | | MEMBER'S EQUITY | 73,971 | | | | | TOTAL LIABILITIES AND MEMBER'S EQUITY | \$
131,466 | | | | {6}------------------------------------------------ # 1. Organization and Nature of Business Pantek Partners Advisors LLC DBA Pantek Securities LLC (the Company) is a Puerto Rico Limited Liability Company and a registered broker-dealer with the Securities and Exchange Commission (SEC) and member with the Financial Industry Regulatory Authority (FINRA). The Company engages exclusively in the private placement of securities and mergers and acquisitions, including fairness opinions, as permitted for CABs under the FINRA CAB Rules, and in accordance with any restrictions outlined in FINRA CAB Rule 016(c)(1), all within a single line of business. The Company is exempt from the provisions of Rule 15c3-3 as the Company does not directly or indirectly receive, hold or otherwise owe funds or securities for or to customers, and did not carry accounts of or for customers. # 2. Significant Accounting and Reporting Policies # Basis of Presentation The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States (GAAP) as determined by the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC). The Company believes that the disclosures in these financial statements are adequate and not misleading. In the opinion of management, the financial statements contain all adjustments necessary for a fair presentation of the Company's financial position as of December 31, 2024 and is not necessarily indicative of the results for any future period. # Use of Estimates The preparation of financial statements in conformity with generally accepted 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. # Cash and Cash Equivalents The Company maintains its cash in a bank deposit account(s) which, at times, may exceed the federally insured limits. The Company monitors the bank account(s) and does not expect to incur any losses from such account(s). The Company has defined cash and cash equivalents as highly liquid investments with original maturities of less than ninety days that are not held-for-sale in the ordinary course of business. The recorded value of such instruments approximates their fair value. At December 31, 2024, the Company had no cash equivalents. {7}------------------------------------------------ # 2. Significant Accounting and Reporting Policies, continued ### Leases The Company is required to record a right-of-use asset and a corresponding lease liability on the balance sheet for all leases with terms greater than twelve (12) months. All such leases and are to be classified as either finance or operating. The Company had no lease obligations that required recording or disclosures in the December 31, 2024 financial statements as the office lease agreement is considered quarter-toquarter until termination by either party. # Income Taxes The Company is a single member limited liability company that is treated as a disregarded entity for income tax purposes as all income or loss flows through to its Owner. Therefore, no provision for federal or state income taxes has been included in the accompanying financial statements. The Company follows the FASB Accounting Standards Codification (ASC) 740-10, Accounting for Uncertainty in Income Taxes. Under FASB ASC 740-10, the Company is required to evaluate each of its tax positions to determine if they are "more likely than not" of being sustained "when challenged" or "when examined" by the applicable taxing authority. Tax positions not deemed to meet the "more likely than not" threshold would be recorded as a tax expense and liability in the current period. A tax position includes an entity's status, including its status as a pass-through entity, and the decision not to file a tax return. Management has concluded that there are no tax obligations stemming from unacknowledged tax benefits associated with uncertain income tax positions taken or anticipated for the year ended December 31, 2024. Any tax returns for the years ended December 31, 2021 and thereafter remain open and are therefore subject to audit by the taxing authorities. No income tax returns are currently under examination. # Accounts Receivable The Company's accounts receivable consists of trade receivable for the private placement of securities. The Company regularly reviews its accounts receivable for any bad debts. As such, the Company regularly reviews its accounts receivable for any bad debts based on the analysis of the Company's collection experience and customer worthiness. As of December 31, 2024, the Company had \$6,000 in net receivables from executed contracts. #### Fair Value Measurement FASB ASC 820 defines fair value, established a framework for measuring fair value, and establishes a fair value hierarchy which prioritizes the inputs to valuation techniques. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. {8}------------------------------------------------ # PANTEK PARTNERS ADVISORS, LLC Notes to the Statement of Financial Condition For the year ended December 31, 2024 A fair value measurement assumes that the transactions to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market. Valuation techniques that are consistent with the market, income or cost approach, as specified by FASB ASC 820, are used to measure fair value. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels: - Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. - Level 2 inputs to the valuation methodology included quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. - Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement. Certain financial instruments are carried at cost on the balance sheet, which approximates fair value due to their short term, highly liquid nature. These instruments include accounts payable and securities owned. # Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and receivables. All of the Company's cash are held at high credit quality financial institutions. The Company regularly monitors receivable balances for collection. # New Accounting Pronouncements In November 2023, the FASB issued Accounting Standard Update No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), intended to improve reportable segments disclosure requirements primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 includes a requirement to disclose significant segment expenses that are regularly provided to the chief operating decision maker (CODM) and included within each reported measure of segment profit or loss, the title and position of the CODM, an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources, and all segments' profit or loss and assets disclosures. ASU 2023-07 is effective for all public companies for fiscal years beginning after December 15, 2023, and interim periods for the interim period beginning on January 1, 2025. Adoption of ASU 2023-07 did not have a material impact on the Company's financial statement. # 3. Revision The Company has corrected its January 1, 2024 member's equity to correctly record a commission payable of \$3,900, adjustment has been to revise the opening retained earnings as of January 1, 2024. {9}------------------------------------------------ #### 4. Accounts Receivable As of December 31, 2024, the company held \$6,000 in accounts receivable from fulfilled contracts, with recognized potential credit losses amounting to \$0. Both accounts receivable and the corresponding allowance, if applicable, are disclosed in the Statement of Financial Condition. # 5. Prepaid Deposits and Expenses Prepaid deposits and expenses represent upfront payments made for future goods, services, or rights. The Company recognizes the expense in the period when the related benefits are received. As of December 31, 2024, the total amount of prepaid deposits and expenses was \$18,790, as reported in the Statement of Financial Condition. This total includes a variety of expenses, including a lease deposit of \$1,400 related to a quarter-to-quarter lease agreement, which can be terminated by either party. # 6. Related Parties The Company did not engage in any related party transactions during the year ended December 31, 2024. As such, there were no transactions with related parties that required disclosure under the applicable accounting standards. The Company continues to monitor its related party relationships to ensure compliance with accounting and regulatory requirements. #### 7. Net Capital and Reserve Requirements #### Net Capital Requirements The Company is subject to the SEC's Uniform Net Capital Rule (SEC Rule 15c3-1) of the Securities Exchange Act of 1934 which requires maintenance of minimum net capital. Under the Rule, the Company is required to maintain minimum net capital, as defined, equal to the greater of \$5,000 or 6 2/3% of aggregate indebtedness. The ratio of aggregated indebtedness to net capital cannot exceed 1500% or 15:1. As of December 31, 2024, the Company possessed a net allowable capital of \$53,081, exceeding the required minimum net capital by \$48,081. The ratio of aggregate indebtedness to net capital at the same date stood at 108.32%. #### Reserve Requirements The Company does not claim an exemption from SEA Rule 15c3-3, in reliance on footnote 74 to SEC Release 34-70073, and as discussed in Q&A 8 of the related FAQ issued by SEC staff. The Company 1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, 2) did not carry accounts of customers of or for customers, and 3) did not carry PAB accounts (as defined in Rule 15c3-3) throughout the year ending December 31, 2024, without exception. {10}------------------------------------------------ # 8. Commitments and Contingencies Operating as a broker-dealer, the Company is exposed to potential litigation, claims, and regulatory examinations. Following a comprehensive evaluation of potential exposures, management holds the opinion that, as of December 31, 2024, there are no outstanding matters anticipated to have a material adverse effect on the Company's financial position. # 9. Subordinated Liabilities The Company had no liabilities subordinated to the claims of general creditors as of the beginning of the period, end of the period, and during the period ended December 31, 2024. # 10. Member's Equity During the year ended December 31, 2024, the Company distributed \$382,442 in profits to its owner, with no capital contributions made during the year. The distributions were made from retained earnings and in compliance with the Company's operating agreement and applicable regulatory capital requirements, and did not affect its ability to meet financial obligations. # 11. Subsequent Events Management has evaluated all events or transactions that occurred subsequent to December 31, 2024 through, February 28, 2025, the date of the issued financial statements and has determined that there were no material recognizable subsequent events that required recording or disclosures in these financial statements. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.