# FON CORPORATE FINANCE LLC X-17A-5 (2025-06-26) — Broker-dealer annual report - Company: FON CORPORATE FINANCE LLC - Form: X-17A-5 - Filed: 2025-06-26 - Period: 2025-03-31 - Accession: 0002013816-25-000081 - CIK: 1805206 - File #: 8-70500 - Type: Broker-dealer - Material weakness: No - Auditor: APRIO, LLP - Auditor location: Atlanta, GA - Contact: Vrinda Arora - Phone: 212-668-8700 - Email: varora@acisecure.com - Website: acisecure.com - Signed by: John O'Hara (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1805206/000201381625000081/fonshortaudit.pdf --- {0}------------------------------------------------ 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 SEC FILE NUMBER 8-70949 # 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 THE PERIOD BEGINNING 01/01/2024 AND ENDING 03/31/2025 MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION NAME OF FIRM: FON CORPORATE FINANCE LLC TYPE OF REGISTRANT (check all applicable boxes): @ Broker-dealer @ O Security-based swap 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 a P.O. box no.) 2000 DUKE STREET, SUITE 321 (No. and Street) ARLINGTON 22314 VA (State) (City) (Zip Code) PERSON TO CONTACT WITH REGARD TO THIS FILING Vrinda Arora (212)-668-8700 varora@acisecure.com (Name) (Area Code - Telephone Number) (Email Address) B. ACCOUNTANT IDENTIFICATION INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* APRIO, LLP (Name - if individual state last first and middle name) | 2002 Summit Boulevard, Suite 120 Atlanta | | GA | 30319 | |-----------------------------------------------------------------------------------------------------|-----------------------|---------|--------------------------------------------| | (Address) | (City) | (State) | (Zip Code) | | 11/25/2003 | | 926 | | | (Date of Registration with PCAOB)(if applicable) | | | (PCAOB Registration Number, if applicable) | | | FOR OFFICIAL USE ONLY | | | | | | | | | . Thirse for anymorian the roming phot the samilal reported by the renover of an independent minute | | | | 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. {1}------------------------------------------------ # OATH OR AFFIRMATION | John O' Hara | | | | , swear (or affirm) that, to the best of my knowledge and belief, | | |--------------|--|--|--|-------------------------------------------------------------------|--| | | | | | | | financial report pertaining to the firm of FON CORPORATE FINANCE LLC as of 3/31 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. Title: CEO the 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). - [ (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. - [ [i] 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. - [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. - [ (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 apropriate 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 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: \*\* 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. {2}------------------------------------------------ # FON CORPORATE FINANCE LLC Statement of Financial Condition as of March 31, 2025 and Report of Independent Registered Public Accounting Firm This report is pursuant to Rule 17a-5(e)(3) under the Securities Exchange Act of 1934 as a Public Document. {3}------------------------------------------------ ### FON CORPORATE FINANCE LLC ## Table of Contents Report of Independent Registered Public Accounting Firm | Report of Independent Registered Public Accounting Firm | | |----------------------------------------------------------|-------| | Financial Statement:
Statement of Financial Condition | | | Notes to Financial Statement | 3 - 6 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Members of FON Corporate Finance LLC # Opinion on the Financial Statement We have audited the accompanying statement of financial condition of FON Corporate Finance LLC as of March 31, 2025, 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 FON Corporate Finance LLC as of March 31, 2025 in conformity with accounting principles generally accepted in the United States of America. # Basis for Opinion This financial statement is the responsibility of FON Corporate Finance LLC's management. Our responsibility is to express an opinion on FON Corporate Finance LLC'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 FON Corporate Finance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and the РСАОВ. 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. Aprio, LLP We have served as FON Corporate Finance LLC's auditor since 2025. New York, New York June 24, 2025 {5}------------------------------------------------ ### Statement of Financial Condition March 31, 2025 ### ASSETS | Cash
Accounts receivable
Other assets | ക്ക | 64,967
5,000
1,374 | |---------------------------------------------------|-----|--------------------------| | TOTAL ASSETS | S | 71,341 | | LIABILITIES AND MEMBER'S EQUITY | | | | LIABILITIES:
Due to Parent
Accrued expenses | | 17,454
13,000 | | TOTAL LIABILITIES | | 30,454 | | MEMBER'S EQUITY | | 40,887 | | TOTAL LIABILITIES AND MEMBER'S EQUITY | ક | 71,341 | See Notes to Accompanying Financial statement. {6}------------------------------------------------ Notes to Financial Statement For the Period from January 1, 2024 through March 31, 2025 #### NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS FON Corporate Finance LLC (the "Company") is a broker-dealer registered with the Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory ("FINRA"). The Company is a wholly-owned subsidiary of FON Holdings, LLC (the "Parent"). The Company was formed on November 18, 2019, as a limited liability company in accordance with the laws of the state of Delaware. The primary business of the Company is to provide services in the areas of mergers and acquisitions and private capital raising. The Company holds no customer funds or securities for investment, nor does it owe funds or securities to its customers. #### NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES #### Basis of Presentation The accompanying financial statement have been prepared on the accunting in accordance with accounting principles generally accepted in the United States of America ("GAAP"). #### Accounts Receivable Accounts receivable consist of unconditional amounts due for services rendered and are reported at amortized cost. All receivables are uncollateralized. To provide for receivables that could become uncollectible in the Company may establish an allowance for credit losses to reduce the carrying amount of such receivables to their estimated net realizable value. The allowance for credit losses is based upon Management's assessment of historical and expected net collections, business and economic conditions, and other collection indicators. Accounts receivable as of March 31, 2025 were \$5,000. Additionally, there were no accounts receivable as of January 1, 2024. The Company adopted a policy of estimated credit losses on financial assets in accordance with FASB ASC 326-20 requires the Company to estimate expected credit losses over the life of its financial assets and certain off-balance sheet exposures as of the reporting date based on relevant information about past events, current conditions, and reasonable forecasts. The Company records the estimate of expected credit losses as an allowance for financial assets measured at an amortized cost basis the allowance for credit losses is reported as a valuation account on the balance sheet that adjusts the assets amortized cost basis. Changes in the allowance for credit losses are reported in Credit Loss expense. No allowance was deemed necessary as of January 1, 2024 or March 31, 2025. #### Revenue and Expense Recognition The Company recognizes revenue in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("ASC Topic 606"). ASC Topic 606 requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services an entity to follow a five step model to (a) identify the contract(s) with a customer, (b) identify the performance obligations in the contract, (c) determine the transaction price, (d) allocate the transaction price to the performance obligations in the contract revenue when (or as) the entity saisfies a performance obligation. In determining the transaction price, an entity may include variable only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized would not occur when the uncertainty associated with the variable consideration is resolved. #### Investment Banking The Company provides advisory services on mergers, acquisitions, Revenue for advisory arangements is generally recognized at the point in time once the performance obligation under the completed (the closing date of the transaction) or the contract is cancelled. However, for certain contracts, revenue is recognized over time for advisory arrangements in which the performance obligations are simultaneously provided by the customed by the customer. In some circumstances, significant judgment is needed to determine the timing and measure of programe recognition under a specific contract. Retainers and other fees received from customers prior to recognizing revenue are reflected as contract liabilities. #### Retainer, Consulting, and Success Fees Fees are due in accordance with the executed agreement and are typically recorded upon execution of a signed agreement. Performance obligations in these arrangements vary depending on the contract, but are in time under the arrangement. These types of fees may also include retainer, research, and/or success fees, which are recognized upon the completion or cancellation of the deal. {7}------------------------------------------------ Notes to Financial Statement For the Period from January 1, 2024 through March 31, 2025 #### NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) #### Revenue and Expense Recognition (continued) #### Contract Balances 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 a customer (i.e., unbilled receivable) and are derecognized when either it becomes a receivable or the cash is received. Contract assets are reported in the statement of financial condition. As of March 31, 2025, there were no contract assets. Contract liabilities arise when customers remit contractual cash payments in advance of the Company satisfying its performance obligations under the contract and are derecognized with the contract is recognized when the performance obligation is satisfied. As of March 31, 2025, there were no contract liabilities. #### Income Taxes The Company is a single-member limited liability company and is treated andity for U.S. federal and state income tax purposes. As such, the Company is not subject to income taxes. Instead, the taxable income tax returns of its sole member. Accordingly, no provision for income taxes has been recorded in the accompanying financial statement. In accordance with ASC 740-10-50-16, the Company has not recognized any deferred tax assets or liabilities in its financial statement. The Company has evaluated its tax positions and determined that there are no uncertain tax position or disclosure in the financial statement. #### Use of Estimates The preparation of financial statement and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statement, and the reported amounts of income and expenses during the reporting period. Accordingly, actual results could differ from those estimates and such differences could be material. #### Recent Accounting Pronouncements The Company has determined that no recently issued accounting pronouncements will have a material impact on its financial position. {8}------------------------------------------------ Notes to Financial Statement For the Period from January 1, 2024 through March 31, 2025 #### NOTE 3 - CONCENTRATIONS OF CREDIT RISK #### Cash The Company maintains principally all cash balancial institution which, at times, may exceed the amount insured by the Federal Deposit Insurance Corporation. The Company is solely dependent upon daily bank balances and the strength of the financial institution. The Company has not incurred any losses on this account. As of March 31, 2025 the amount in excess of the FDIC limit was \$0. #### Accounts Receivable As of March 31, 2025, one customer accounted for 100% of the accounts receivable. #### NOTE 4 - INDEMNIFICATIONS In the normal course of its business, the Company indemnifies and guarantees certain service providers against specified potential losses in connection with their acting as an agent of, or providing services to, the maximum potential amount of future payments that the Company could be required to make under these indemnifications cannot be estimated. However, the Company believes that it is unlikely it will have to make material payments and has not recorded any contingent liability in the financial statement for these indemnifications. The Company provides representations and warranties in connection with a variety of commercial transactions and occasionally indemnifies them against potential losses caused by the breach of those representations and warranties. The Company may also provide standard indemnifications to some counterparties to protect them in the event additional taxes are owed or payments are withheid, due either to a change in or adverse application of certain tax laws. These indemnifications generally are standard contractual terms and are entered into in the normal course of business. The maximum potential amount of future payments that the Company could be required to make undemnifications cannot be estimated. However, the Company believes that it is unlikely it will have to make material payments and has not recorded any contingent liability in the financial statement for these indemnifications. #### NOTE 5 - CONTINGENCIES The Company is exposed to various asserted and unasserted potential claims encountered in the normal course of business. As of March 31, 2025, and through the date of this report there were no such claims. #### NOTE 6 - NET CAPITAL REQUIREMENTS The Company is subject to the Securities and Exchange Commission Uniform Net Capital Rule (SEC Rule 1503-1), which requires the maintenance of minimum net capital, and requires that the ratio of aggregate indebtedness to net capital, shall not exceed 15 to 1. SEC Rule 15c3-1 also provides that capital may not be withdrawn or cash dividends paid if the resulting net capital ratio would exceed 10 to 1. Net capital and aggregate indebtedness change day to day, but on March 31, 2025, the Company had net capital of \$34,513 which was \$29,513 in excess of its required not \$5,000; and the Company's percentage of aggregate indebtedness to net capital was approximately 88.24%. {9}------------------------------------------------ Notes to Financial Statement For the Period from January 1, 2024 through March 31, 2025 #### NOTE 7 – EXEMPTION FROM RULE 15c3-3 The Company is exempt from the provisions of Rule 15c3-3 under the Securities and Exchange Act of 1934. The Company does not hold customers' cash or securities and, therefore, has no obligations under \$EC Rule 15:3-3 under the Securities Exchange Act of 1934 #### NOTE 8 - RELATED PARTY TRANSACTIONS The Company and its Parent have entered into an expense sharing agreement whereby office services are all related entities. Any amounts owed are due on demand and bear no interest. Shared expenses are allocated by headcount, directly correlated use and/or percent of time spent by personnel. As of March 31, 2025, the amount owed under this arrangement was \$17,454. ### NOTE 9 - SEGMENT REPORTING The Company follows ASC 280. Seament Reporting (including adoption of ASU 2023-07), which requires to disclose segment data based on how management makes decisions about allocating resources to segments and evaluating performance. The Company conducts its business activities and results as a single reportable segment, the brokerage services segment. Using the management approach, qualitative criteria established by ASC 280, the Company is considered to be a single reportable segment. The Chief Operating Decision Maker ("CODM") makes decisions about allocating resources and assessing performance in a manner consistent with the way the Company operates its business and presents. The nature of business and accounting policies of the brokerage services segment are the same as described in the organization and nature of business and summary of significant accounting policies. #### NOTE 10 - SUBSEQUENT EVENTS Management has evaluated the Company's events and transactions that occurred subsequent to March 31, 2025 through June 24, 2025 the date which the financial statement were available to be issued. The Company is undergoing a routine FINRA examination, the final report of which has not been issued as of the time the financial statement were available to be issued. The Company also received capital contributions of \$30,000 and \$60,000 in the months of April and May, 2025 respectively. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.