# EDGAR Filing Document

**Accession Number:** 0001760190
**File Stem:** 0001760190-23-000001
**Filing Date:** 2023-2
**Character Count:** 18700
**Document Hash:** 7e863d1998076f6ff2d4ed0ed7e96cde
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001760190-23-000001.hdr.sgml**: 20230215

**ACCESSION NUMBER**: 0001760190-23-000001

**CONFORMED SUBMISSION TYPE**: X-17A-5

**CONFIRMING COPY**: 

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230215

**DATE AS OF CHANGE**: 20230215

**PERIOD START**: 20220101

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** IHT SECURITIES, LLC
- **CENTRAL INDEX KEY:** 0001760190
- **IRS NUMBER:** 832564832
- **STATE OF INCORPORATION:** IL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** X-17A-5
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 008-70256

**BUSINESS ADDRESS:**
- **STREET 1:** 123 N. WACKER DR.
- **STREET 2:** SUITE 2300
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 773-516-1521

**MAIL ADDRESS:**
- **STREET 1:** 123 N. WACKER DR.
- **STREET 2:** SUITE 2300
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

### Attached PDF Documents

**Attachment 1:** `public_report.pdf`

# UNITED STATES

# SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

OMB APPROVAL

OMB Number: 3235-0123

Expires: Oct. 31, 2023

Estimated average burden

hours per response: 12

# ANNUAL REPORTS

# FORM X-17A-5

# PART III

SEC FILE NUMBER

8-70256

# 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 01/01/2022 AND ENDING 12/31/2022

MM/DD/YY

MM/DD/YY

# A. REGISTRANT IDENTIFICATION

NAME OF FIRM: IHT SECURITIES, LLC

TYPE OF REGISTRANT (check all applicable boxes):

☑ Broker-dealer

☐ 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.)

123 N WACKER DRIVE, SUITE 2300

| (No. and Street) |  |  |
| --- | --- | --- |
| CHICAGO | IL | 60606 |
| (City) | (State) | (Zip Code) |

PERSON TO CONTACT WITH REGARD TO THIS FILING

TOM SHEA

815-782-1250

TOM@GSCOMPLIANCECONSULTING.COM

(Name)

(Area Code - Telephone Number)

(Email Address)

# B. ACCOUNTANT IDENTIFICATION

INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*

FGMK, LLC

(Name - if individual, state last, first, and middle name)

2801 LAKESIDE DRIVE, 3RD FL BANNOCKBURN IL 60015

(Address)

(City)

(State)

(Zip Code)

12/17/2009

3968

(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 be covered by the 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.

PUBLIC

# OATH OR AFFIRMATION

I, STEVEN DUDASH, swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of IHT SECURITIES, LLC, as of 12/31, 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 proprietary interest in any account classified solely as that of a customer.

KARLA M HERNANDEZ

Official Seal

Notary Public - State of Illinois

My Commission Expires Jul 18, 2026

Signature: 2/13/23

Title:

CHIEF EXECUTIVE OFFICER

Karla Hernandez 2/13/2023
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.

☐ (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.

☐ (l) 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 report or 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 240.15c3-1e or 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 240.18a-7(d)(2), as applicable.

PUBLIC

# **IHT Securities, LLC**  
**FINANCIAL STATEMENT AND REPORT OF**  
**INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

December 31, 2022

Filed as a public document pursuant to Rule 17a-5(d) of the Securities Exchange Act of 1934

**PUBLIC DOCUMENT**

# **IHT Securities, LLC**

# **Letter of Oath or Affirmation**

| Report of Independent Registered Public Accounting Firm | 1 |
| --- | --- |
| Financial Statement |  |
| Statement of Financial Condition | 2 |
| Notes to Financial Statement | 3-5 |

1

FGMK
Identifying opportunities.
Delivering solutions.

# REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Management
of IHT Securities, LLC

# Opinion on the Financial Statement

We have audited the accompanying statement of financial condition of IHT Securities, LLC (the “Company”) as of December 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 the Company as of December 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 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.

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 2021.

Chicago, Illinois
February 9, 2023

FGMK, LLC

333 W. Wacker Drive, 6th Floor | Chicago, IL 60606
2801 Lakeside Drive, 3rd Floor | Bannockburn, IL 60015
17W110 22nd Street, 3rd Floor | Oakbrook Terrace, IL 60181

Bannockburn | Chicago | Cleveland
Dubuque | Indianapolis | Oakbrook Terrace
Orange County | Santa Fe | Sarasota

# **IHT Securities, LLC**  
**Statement of Financial Condition**  
**December 31, 2022**---

# **Assets**

| Cash | $342,346 |
| --- | --- |
| Total Assets | $342,346 |

# **Liabilities and Member's Equity**

| Liabilities |  |
| --- | --- |
| Accrued expenses | $28,938 |
| Total Liabilities | 28,938 |
| Member's Equity | 313,408 |
| Total Liabilities and Member's Equity | $342,346 |

The accompanying notes are an integral part of this statement

2

## Notes to Financial Statement

### 1. Nature of Operation and Summary of Significant Accounting Policies

#### Nature of Operations

IHT Securities, LLC (the “Company”), an Illinois limited liability company, was formed on November 16, 2018, and commenced operations as a broker-dealer on January 22, 2021. The Company is a broker-dealer, registered with Financial Industry Regulatory Authority (“FINRA”), and licensed by the Securities and Exchange Commission (“SEC”). The Company conducts business sharing in securities-related commissions with another FINRA member-firm. The Company holds no customer securities or funds for investment, nor does it owe funds or securities to its customers.

#### Government and Other Regulation

The Company’s business is subject to significant regulation by governmental agencies and self-regulatory organizations. Such regulation includes, among other things, periodic examinations by these regulatory bodies to determine whether the Company is conducting and reporting its operations in accordance with the applicable requirements of these organizations.

#### A Summary of the Company’s Significant Accounting Policies Follows:

##### Basis of Accounting

The financial statement has been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) as established in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) to ensure consistent reporting of financial condition, results of operations and cash flows.

##### Use of Estimates and Assumptions

The preparation of financial statements in conformity with GAAP requires the Company’s 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 the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

##### Revenue Recognition

The Company recognizes revenue under FASB ASC 606, *Revenue from Contracts with Customers*. Revenue from contracts with customers is recognized when, or as, the Company satisfies its performance obligations by transferring promised goods or services to customers. A good or service is transferred to a customer when, or as, the customer obtains control of that good or service. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled in exchange for those promised goods or services.

3

Significant Judgements. The recognition and measurement of revenue is based on the assessment of individual contract terms. Significant judgement is required to determine whether performance obligations are satisfied at a point in time or over time; how to allocate fees where multiple performance obligations are identified; and whether constraints on variable consideration should be applied due to uncertain future events.

The following provides detailed information on the recognition of the Company's revenue from contracts with customers:

Revenue from contracts with customers includes the receipt of commissions and fees from securities transactions executed at another FINRA member-firm. Revenue is recognized when the security transactions are executed as the Company believes that its performance obligation has been satisfied.

# **Cash:**

Cash includes all cash balances and highly liquid investments with an initial maturity of three months or less.

# **Concentration of Credit Risk:**

Financial instruments that potentially subject the Company to concentrations of credit risk are principally cash and accounts receivable. The Company performs on-going credit evaluations and generally requires no collateral from customers. The Company places its temporary cash investments with major banks which, from time-to-time, may excess federally insured limits. The Company periodically assesses the financial condition and believes the loss to be minimal.

# **Income Taxes**

The Company is a single member limited liability company that has elected to be taxed under the provisions of Subchapter S of the Internal Revenue Code. Accordingly, except as stated herein, its member is personally responsible for federal and state income taxes on their allocation of the Company's taxable income that were previously the sole responsibility of its member. Therefore, no liability or provision for federal and state income taxes is included in the accompanying financial statements, except for certain state income taxes from various states for which the Company elected to incur those states' income taxes based on an allocation of the Company's taxable income. The Company is responsible for certain other state income taxes and the state income taxes rates vary by state.

# **2. Net Capital Requirement**

The Company is subject to the Securities and Exchange Commission's uniform net capital rule (Rule 15c3-1), which requires the Company to maintain a minimum net capital equal to or greater than $5,000 or 6 and 2/3% of aggregate indebtedness, and a ratio of aggregate indebtedness to net capital not exceeding 15 to 1, both as defined. The net capital rules may restrict distributions. On December 31, 2022, the Company's adjusted net capital was $313,342, which exceeded the requirement by approximately $308,342.

# **3. Related-Party Transactions**

The Company and IHT Wealth Management, LLC ('IHTWM') entered into an expense sharing agreement on January 22, 2021. This agreement was amended on October 1, 2021 (as amended, the 'Management

4

Services Agreement”) to increase the monthly management fee from $8,000 per month to $17,804 per month. IHTWM makes available to the Company office space, equipment, the services of its employees, administrative support, and other services.

#### **4. Commitments and Contingencies**

Accounting standards require the disclosure of representations and warranties which the Company enters into and which may provide general indemnifications to others. The Company, in its normal course of business, may enter into contracts that contain such representations and warranties. The Company’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Company that have not yet been incurred. However, based on its experience, the Company expects the risk of loss to be remote.

#### **5. Subsequent Events**

The Company has evaluated all known subsequent events through the date the financial statement was available for issue, and is not aware of any material subsequent events occurring during this period.

5

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

## FORM X-17A-5

### ANNUAL AUDITED REPORT

### Filer Information

**Filer CIK:** 0001760190

**Filer CCC:** XXXXXXXX

**Is this a LIVE or TEST filing?:** LIVE

**Would you like a Return Copy?:** Yes

### Submission Information

**Report Period Begin Date:** 01-01-2022

**Report Period End Date:** 12-31-2022

**Type of Registrant:** Broker-dealer

**Any material weaknesses identified?:** No

### Registrant Identification

**Name of Broker-Dealer:** IHT SECURITIES, LLC

**Business Address:** 123 N. WACKER DR., SUITE 2300, CHICAGO, IL, 60606

**Contact Person:** thomas shea

**Contact Phone:** 815-782-1250 ext 106

### Independent Public Accountant Identification

**Accountant Name:** fgmk

**Accountant Address:** 2801 lakeside drive 3rd floor, bannockburn, IL, 60015

**Accountant Type:** Certified Public Accountant

### OATH OR AFFIRMATION

I, **steven dudash**, swear (or affirm) that, to the best of my knowledge and belief, the accompanying financial statements and supporting schedules pertaining to the firm of **IHT SECURITIES, LLC**, as of **12-31-2022**, are true and correct.

**Signature:** steven dudash

**Title:** chief executive officer

**Notarized:** Yes