# WWF SECURITIES, LLC X-17A-5 (2025-04-01) — Broker-dealer annual report
- Company: WWF SECURITIES, LLC
- Form: X-17A-5
- Filed: 2025-04-01
- Period: 2024-12-31
- Accession: 0001843264-25-000001
- CIK: 1843264
- File #: 8-70662
- Type: Broker-dealer
- Material weakness: No
- Auditor: Tuttle & Bond, PLLC
- Auditor location: Giddings, TX
- Contact: Lonnie Johnson
- Phone: 231-384-2712
- Email: lon@wwfsecurities.com
- Website: wwfsecurities.com
- Signed by: Lonnie Johnson (CEO)
Original filing: https://www.sec.gov/Archives/edgar/data/1843264/000184326425000001/wwfsauditedgar1.pdf
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
> ANNUAL REPORTS FORM X-17A-5 PART III
OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12
SEC FILE NUMBER
8-70662
FACING PAGE
Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934
AND ENDING\_12/31/24 filing for the period beginning 01/01/24
MM/DD/YY
MM/DD/YY
A. REGISTRANT IDENTIFICATION
# NAME OF FIRM: WWF SECURITIES, LLC
TYPE OF REGISTRANT (check all applicable boxes):
Broker-dealer □ Check here if respondent is also an OTC derivatives dealer
ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.)
## 1 PARK AVENUE, APT #1707
| | (No. and Street) | | | | |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------|--------------------------------------------|-----------------------|--|--|
| DETROIT | MI | | 48226 | | |
| (City) | (State) | | (Zip Code) | | |
| PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | |
| Lon Johnson | 313-314-6500 | | lon@wwfsecurities.com | | |
| (Name) | (Area Code - Telephone Number) | (Email Address) | | | |
| | B. ACCOUNTANT IDENTIFICATION | | | | |
| INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing *
Tuttle & Bond, PLLC
(Name - if individual, state last, first, and middle name) | | | | | |
| 3488 South U.S. Hwy 77 | Giddings | TX | 78942 | | |
| (Address) | (City) | (State) | (Zip Code) | | |
| 03/19/2019 | | 6543 | | | |
| (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 information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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#### OATH OR AFFIRMATION
#### LONNIE JOHNSON -
\_ swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of WWF SECURITIES, LLC as of
12/31 , 2 024 , 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.
Notary Public
Notarized Online with NotaryLive.com
#### This filing\*\* contains (check all applicable boxes):
- (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.
- [ (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 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.
- □ (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.
- □ (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.
- | (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 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 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.
- | (x) Supplemental reports on applying agreed upon procedures, in accordance with 17 CFR 240.17a-12, as applicable.
- □ (y) Report describing any material inadequacies 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: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_
- \*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18c-7(d)(2), as applicable.
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Financial Statements and Supplemental Schedules Required by the U.S. Securities and Exchange Commission
Including Independent Auditor's Report Thereon
December 31, 2024
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### Contents
| Independent Auditor's Opinion | |
|-----------------------------------------------------------------------|--|
| Statement of Financial Condition For the year ended December 31, 2024 | |
| Footnotes to Financial Statements | |
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#### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Member of WWF Securities, LLC
#### Opinion on The Financial Statements
We have audited the accompanying statement of financial condition of WWF Securities, LLC (the "Company") as of December 31, 2024, and the related statements of operations, member's equity and cash flows for the year then ended notes (collectively referred to as "financial statements"). In our opinion, the financial statements present the financial position of the Company as of December 31, 2024, and the results of 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 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 of these financial statements 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 from 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 audits, 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 reporting. Accordingly, we express no such opinion.
Tuttle & Bond. PLLC
Giddings, Texas March 25, 2025
Tuttle & Bond, PLLC ericksburg, TX 7862 ww.tuttlebond.c
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#### WWF Securities, LLC Financial Statements Statement of Financial Condition For the year ended December 31, 2024
| | Dec 31, 24 | |
|----------------------------|------------|-----------|
| ASSETS | | |
| Current Assets | | |
| Cash | | |
| Checking/Savings | ക | 22,954 |
| Commissions receivable | | 23,000 |
| Prepaid assets | | 7,092 |
| Deposits - CRD | | 209 |
| TOTAL ASSETS | S | 53,255 |
| LIABILITIES & EQUITY | | |
| Liabilities (all current) | | |
| Accruals | | 73 |
| Payable to affiliate | | 2,010 |
| TOTAL LIABILITIES | ക്ക | 2,083 |
| Equity | | |
| Additional Paid-in Capital | | 301,049 |
| Retained Earnings | | (261,505) |
| Net Income | | 11,628 |
| Total Equity | ക | 51,172 |
| TOTAL LIABILITIES & EQUITY | \$ | 53,255 |
The accompanying notes are an integral part of these financial statements.
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### WWF Securities, LLC Footnotes to Financial Statements For the year ended December 31, 2024
### Note 1 - Organization and Description of Business
WWF Securities, LLC (the "Company") is a broker-dealer registered with the United States Securities and Exchange Commission ("SEC") and is a member of the Financial Industry ("FINRA"). As a limited liability company, the member's liability is limited to its investment.
The Company was founded in October of 2020, under the laws of the State of Delaware. The Company is a placement agent for private debt and equity securities and acts as a broker for the purchase and sale of private securities. The Company's customers are located throughout the United States.
The Company is owned 55% by WWF Holdings, Inc., 35% by Edward Fearon, and 10% by Escalating Dares, LLC.
### Note 2 - Summary of Significant Accounting Policies
#### Basis of Presentation
The accompanying financial statements are presented in conformity principles generally accepted in the United States of America ("U.S. GAAP").
#### Revenue from Contracts with Customers
Revenue from contracts with customers includes placement and advisory services related to capital raising and transactions. The recognition and measurement of revenue is based on the assessment of individual contract terms. The agreements often contain nonrefundable retainer fees, and/or success fees, which may be fixed or represent a percentage of the value that the customer receives, if and when the transaction is completed ("success fees"). The Company has evaluated its nonrefundable retainer fees, to ensure they relate to the transfer of goods or services, as a distinct performance obligation, in exchange for the retainer.
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#### Footnotes to Financial Statements
#### For the year ended December 31, 2024
(Continued)
#### Revenue Recognition
The Company adopted ASU 2014-09, Revenue from Contracts with Customers, (codified in ASC 606). The Company recognizes revenue when services are transferred to clients. Revenue is recognized based on the amount of consideration that management expects to receive in exchange for these services in accordance with the terms of the contract with the client. To determine the amount and timing of revenue recognition, the Company must (1) identify the contract with the client, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when the Company satisfies a performance obligation.
#### Private Placement Revenue
The Company may enter into an agreement directly with a company to sell their securities in an unregistered offering (private placement), or the Company may enter into a selling agreement with another broker-dealer ("syndicate manager") to participate in the sale of unregistered offerings, in either instance, the Company's obligation is to find investors to purchase the company's securities. The Company may receive a retainer for upfront costs and expenses, which will be recognized after the Company has met required contractual conditions. The Company receives revenue based upon a percentage of the amount of capital raised, which may also include a success fee, as set forth in the underwriting agreement between the two companies or the Company and the syndicate manager. If the unregistered offering has no conditions other than acceptance by the Company of the investment, the Company will recognize revenue when the company accepts the investment. In offerings where conditions exist, the Company will recognize revenue only after all conditions have been fully satisfied and the company has accepted the investment. Where the Company is paid commissions and/or fees that are subject to reclamation, such revenue is recorded as deferred until such time as all reclamation provisions have been fully satisfied.
#### Note 2: Summary of Significant Accounting Policies
Significant judgment is required to determine whether performance obligations are satisfied at a point in time or over time; how to allocate transaction prices where multiple performance obligations are identified; when to recognize revenue based on appropriate measure of the Company's progress under the contract; whether revenue should be presented gross or net of certain costs; and whether constraints on variable consideration should be applied due to uncertain future events. In some circumstances, significant judgment is needed to determine the timing and measure of progress appropriate for revenue recognition under a specific contract. If a promised good or service is not distinct, the Company combines that good or service with other promised goods or services until it identifies a bundle of goods or services that is distinct. In some cases, this would result in the Company accounting for all the services promised in a contract as a single performance obligation and, if unfulfilled, amounts received from such contracts would be reflected as deferred revenues on the statement of financial condition.
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### Footnotes to Financial Statements
### For the year ended December 31, 2024
### (Continued
The Company recognizes certain retainer revenue from contracts with customers at the point in time in which specified deliverables are transferred to the Company's customers.
Success fee revenue for advisory arrangements is generally recognized at the porformance under the agreement is completed (the closing date of the transaction).
#### Accounts Receivable and Allowance for Credit Losses
Accounts receivable are non-interest-bearing uncollations receivable in accordance with the terms agreed upon with each customer. The Company regularly reviews its accounts receivables 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 treads.
#### Advertising
Advertising costs are expensed as incurred \$920 in advertising expenses for the year ended December 31, 2024.
#### Cash
The Company maintains its bank account in a high credit quality financial institution. The balance at times may exceed federally insured limits.
#### Note 2: Summary of Significant Accounting Policies (Continued)
#### Property and Equipment
Property and equipment are recorded at cost. Depreciation is provided by use of the straight-ine method over the estimated useful lives of the respective assets, which ranges from five to seven years.
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#### Footnotes to Financial Statements
#### For the year ended December 31, 2024
(Continued)
#### Income Taxes
As a limited liability company, the tax consequences of the Company's operations all pass through to the Member. Therefore, the Company's income or loss is reported on the Member's partnership income tax return. As a result, no federal or state income taxes are included in the accompanying financial statements as they are the responsibility of the individual owners of the Member.
The Company has adopted the provision of FASB ASC 740-10 Accounting for Uncertainty in Income Taxes. Under this provision, 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 includes an entity's status, including its status as a pass-through entity, 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.
#### 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, liabilities, revenues and expenses during the reporting period. Actual results could differ from those estimates.
#### Note 3 -Related Party Transactions
The Company and its Member occasionally pay expenses on behalf of each other that are reimbursed at cost with no gain or loss. During the period of the report 2024, payments on behalf of one another were \$0. The balance due from member on the accompanying statement of financial condition arose from such transactions.
The Company operates from office space provided by the owners of the Company's Member at no cost to the Company. Financial position and results of operations could have differed from the accompanying financial statements if these related party transactions did not exist.
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#### Footnotes to Financial Statements
#### For the year ended December 31, 2024
(Continued)
#### Note 4 - Concentrations
During 2024, approximately 100% of investment banking revenues were earned from 1 customer(s). We had no net accounts receivable at December 31, 2024.
#### Note 5 - Net Capital Requirements
The Company is subject to the SEC Unitorn Net Capital Rule (Rule 15c3-1) which requires the minimum net capital, as defined, equal to the greater of \$5,000 or one-fifteenth of aggregate indebtedness. At December 31, 2024, the Company had net capital of \$20,871 which exceeded its minimum required of \$5,000 by \$15,871. At December 31, 2024, the Company's ratio of aggregate indebtedness to net capital was .10 to 1.00.
#### Note 6 - Subsequent Events
The Company has evaluated all events and transactions that occurred after December 31, 2024 through March 25, 2025.
#### Note 7 - Contingencies
The Company is subject to litigation in the normal course of business. The Company has no litigation in progress as of December 31, 2024, as defendant.
#### Note 8 - Economic Risks
In March 2020, the World Heath 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 management believes the Company is in an appropriate position to sustain potential short-term effects of the direct and long-term impact to the Company and its financial statements is undetermined at this time.
#### Note 9 - Commitments and Contingencies
The Company does not have any commitments, guarantees or contingencies that may result in a loss or future obligation, or that may be asserted against the firm at a future date.
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Notarized by: Jennifer Frazier Time: 2025-03-28 18:02:40 UTC URL: https://notarylive.com/tu/cdp/C5P7PN Access ID: C5P7PN Pin: V3W428
Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.