# PARKER STREET SECURITIES LLC X-17A-5 (2024-03-27) — Broker-dealer annual report - Company: PARKER STREET SECURITIES LLC - Form: X-17A-5 - Filed: 2024-03-27 - Period: 2023-12-31 - Accession: 0001885943-24-000004 - CIK: 1885943 - File #: 8-70812 - Type: Broker-dealer - Material weakness: No - Auditor: Sanville & Company - Auditor location: Huntingdon, PA - Contact: Kathleen Camisa - Phone: 6096587501 - Email: kcamisa@parkerstreet.co - Website: parkerstreet.co - Signed by: David Deming (President) Original filing: https://www.sec.gov/Archives/edgar/data/1885943/000188594324000004/parkerreportpublic.pdf --- {0}------------------------------------------------ ### PARKER STREET SECURITIES LLC Statement of Financial Condition Pursuant to Rule 17a-5 under the Securities and Exchange Act of 1934 December 31, 2023 {1}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235 0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 # ANNUAL REPORTS FORM X-17A-5 PART III FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | FILING
FOR
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REGISTRANT
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Parker
firm:
NAME
OF | Securities
LLC | | | | | (check
all
OF
TYPE
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Major
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a | no.) | | | | 751
Park
Commerce
of | Drive,
128
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Street)
and | | | | | Boca
Raton | FL | | 33487 | | | (City) | (State) | | (Zip
Code) | | | TO
WITH
PERSON
CONTACT | TO
THIS
REGARD
FILING | | | | | Kathleen
Camisa | 609-658-7501 | | kcamisa@parkerstreet.co | | | (Name) | -Telephone
Number)
(Area
Code | (Email
Address) | | | | | B.
ACCOUNTANT
IDENTIFICATION | | | | | INDEPENDENT
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Company
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and | | | | | | 2617
Huntingdon
Pike | Huntingdon | PA | 19006 | | | (Address) | (City) | (State) | (Zip
Code) | | | 09/18/2003 | | 169 | | | | (Date
of
Registration
with
PCAOB)(if | applicable) | Registration
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applicable) | | | | ONLY
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USE | | | | | | | | 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 controlnumber. {2}------------------------------------------------ #### OATH OR AFFIRMATION | David Deming | swear (or affirm) that, to the best of my knowledge and belief, the | |--------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------| | financial report pertaining to the firm of Parker Street Securities, LLC | . as of | | 12/31 | , 2 023 , 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. | | | | 197 19 8 NANOV DOLLAIOLI | Commission # HH 408512 Expires June 8, 2027 Signature: Title: President Notary Public ### 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). - O (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. - □ {0} Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capible 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. - O (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. - O (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 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). - O (z) Other: \*\* To request confidential treatment of certain portions of this filing, see 17 CFR 240.170-5(e)(3), os applicable. {3}------------------------------------------------ ![](_page_3_Picture_0.jpeg) # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member and Those Charged With Governance of Parker Street Securities LLC ### Opinion on the Financial Statement the statement of financial condition presents fairly, in all material respects, the financial position of the Company as ## Basis for 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. March 18, 2024 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 the Company's auditor since 2023 Huntingdon Valley, Pennsylvania {4}------------------------------------------------ # Parker Street Securities LLC Statement of Financial Condition December 31, 2023 #### Assets | Cash
Prepaid expenses
Other receivable
Loan receivable from affiliate
Property and equipment - net
Security deposit | ക്ക | 61,568
25,025
9,000
73,079
5,667
16,959 | |------------------------------------------------------------------------------------------------------------------------------------|------|--------------------------------------------------------| | Liabilities and Member's Equity | ക | 191,298 | | | | | | Liabilities | | | | Accounts payable and accrued expenses
Total liabilities | ಿ | 2,913
2,913 | | Member's equity | | 188,385 | | | ಕ್ಕಾ | 191,298 | The accompanying notes are an integral part of this financial statement. {5}------------------------------------------------ # Parker Street Securities LLC Footnotes to Financial Statements December 31, 2023 ### 1. Organization and Summary of Significant Accounting Policies #### Organization and Nature of Business Operations Parker Street Securities LLC (the "Company") was formed in September 2021 under the laws of the State of Delaware and was registered as a broker-dealer in March 2022 pursuant to Section 15(b) of the Securities Exchange Act of 1934, as amended. Parker Street Securities LLC is a wholly owned subsidiary of Parker Street Holdings LLC (the "Parent"). The Company's only business activity is acting as a placement agent in private placement of securities transactions. The Company is a Non-Covered Firm with the SEC since it does not accept customer funds or securities and will not have possession of any customer funds or securities in connection with our activities. Therefore, in reliance on footnote 74 to SEC Release 34-70073, the Company does not claim an exemption from SEA Rule 15c3-3. #### Basis of Presentation The accompanying financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). #### Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. #### Accounts Receivable and Contract Balances Accounts receivable arise when the Company has an unconditional right to receive payment under a contract with a customer and are derecognized when the cash is received. On a periodic basis, management evaluates its accounts receivable and provides for probable uncollectible amounts through a charge to operations and a credit to an allowance for doubtful accounts based on its assessment of the current status of individual accounts. ### Revenue Recognition ### Significant Judgements Revenue includes fees from private placement activities. The recognition and measurement of the revenue is based on the assessment of individual terms of each transaction. Significant judgement is required to determine whether performance obligations are satisfied on a "best efforts" basis 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 the appropriate measure of the Company's progress under the contract, and whether constraints on variable compensation should be to uncertain future events. The Company has only one performance obligation with its customers, which is the closing on a "best efforts" basis of the successful placement of a private security. #### Private Placements Fees The Company conducts placement transactions in sales of equity and securities (typically pooled investment vehicles) through private placements. Revenues from private placement transactions are recognized at the point in time that performance under the arrangement is completed upon the closing dates of the transactions for sale of securities or the contract is otherwise terminated. The Company believes that the closing dates of the contract are the appropriate point in time in which to recognize revenue for private placement transactions as there are no significant actions which the Company {6}------------------------------------------------ # Parker Street Securities LLC Footnotes to Financial Statements (continued) December 31, 2023 needs to make subsequent to such date and the issuer of the private placements obtains access to and the benefit of capital markets offering at the time of the transaction closing. Contract assets arise when the revenue associated with the contract is recognized prior to the Company's unconditional right to receive payment under a contract with an issuer (i.e., unbilled receivable) and are de-recognized when it becomes a receivable or cash for payment is otherwise received. Contract liabilities arise when the issuer remits contractual cash payments in advance of the Company satisfying its performance obligations under the contract and are de-recognized when revenue associated with the contract is recognized at the time the performance obligation is satisfied. #### Income Taxes The Company is a single member limited liability company. Therefore, the income or loss is passed through to the member and no provision for federal and state income taxes has been included in the financial statements for the Company. Since the Company is a single member limited liability company, it is considered a disregarded entity for tax purposes. Therefore, the Company is not required to file income tax returns in the U.S. Federal jurisdiction or states. ### 2. Net Capital Requirements The Company is subject to the Securities and Exchange Commission Uniform Net Capital Rule (Rule 15c3-1), which requires the maintenance of a minimum net capital level and requires that the ratio of aggregate indebtedness to net capital, as defined, shall not exceed 15.0 to 1.0 while conducting business. On December 31, 2023, the Company had net capital of \$58,655 which exceeded required net capital of \$5,000. The ratio of aggregate indebtedness to net capital was .05 to 1. ### 3. Reconciliation of Contract Assets and Contract Liabilities The Company received all its revenue from two major customers. The revenue is from placement fee income. The following table provides information about contract receivables and liabilities from contracts with customers: | | December 31,
2023 | |----------------------|----------------------| | Accounts receivable | \$0 | | Contract assets | \$0 | | Contract liabilities | \$0 | {7}------------------------------------------------ # Parker Street Securities LLC Footnotes to Financial Statements (continued) December 31, 2023 #### 4. Property and Equipment Property and equipment - net at December 31, 2023, are summarized as follows: | Furniture and fixtures | ಕಾ | 10,480 | |-------------------------------|----|---------| | Less accumulated depreciation | | (4,813) | | | ಕ | 5.667 | Depreciation expense amounted to \$2,567 for the year ended December 31, 2023. #### Concentration of Credit Risk 5. The Company maintains cash in bank deposit accounts, which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to significant credit risk on its cash balances. #### 6. Related Party Transactions The Company had an expense sharing agreement with an other entity in 2023. In accordance with such agreement, the Company pays for all direct expenses in relation to its business. The other entity pays shared expenses and invoices the Company each month for reimbursement. Total expenses reimbursed to this entity amounted to \$1,774,785 for 2023. This entity is no longer deemed a related party as of August 22, 2023. The Company loaned a former related party \$250,000 in March 2022. The loan balance as of 12/31/2023 is \$73,079. The balance will be paid in 2024. #### 7. Commitments and Contingencies The Company does not have any commitments, guarantees or contingencies. The Company is not aware of any threats or other circumstances that may lead to the assertion of a claim at a future date. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.