# EDGAR Filing Document

**Accession Number:** 0000920974
**File Stem:** 0000920974-23-000001
**Filing Date:** 2023-3
**Character Count:** 24600
**Document Hash:** 94041aa1b9e5f073f4c4d601dcf768c6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000920974-23-000001.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0000920974-23-000001

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

**PUBLIC DOCUMENT COUNT**: 7

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**EFFECTIVENESS DATE**: 20230301

**PERIOD START**: 20220101

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BEEKMAN SECURITIES, INC.
- **CENTRAL INDEX KEY:** 0000920974
- **IRS NUMBER:** 133584479
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** X-17A-5
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 008-47069
- **FILM NUMBER:** 23692366

**BUSINESS ADDRESS:**
- **STREET 1:** 177 WEST PUTNAM AVENUE
- **STREET 2:** STE 300
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06831
- **BUSINESS PHONE:** 9178809263

**MAIL ADDRESS:**
- **STREET 1:** 177 WEST PUTNAM AVENUE
- **STREET 2:** STE 300
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06831

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BEEKMAN SECURITIES INC                                  /BD
- **DATE OF NAME CHANGE:** 19940328

### Attached PDF Documents

**Attachment 1:** `cover1.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

# 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 | 01/01/22 | AND ENDING | 12/31/22 |
| --- | --- | --- | --- |
|  | MM/DD/YY |  | MM/DD/YY |

# A. REGISTRANT IDENTIFICATION

NAME OF FIRM: Beekman Securities, Inc.

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.)

177 West Putnam

| (No. and Street) |  |  |
| --- | --- | --- |
| Greenwich | CT | 06831 |
| (City) | (State) | (Zip Code) |

PERSON TO CONTACT WITH REGARD TO THIS FILING

Robert Solomon 917.328.9568 robert@beekmansecuritiesinc.com

(Name) (Area Code - Telephone Number) (Email Address)

# B. ACCOUNTANT IDENTIFICATION

INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*

Mercurius & Associates, LLP

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

A-94/B Wazirpur Industrial Area, Main Ring Road, Delhi-110052 India

| (Address) | (City) | (State) | (Zip Code) |
| --- | --- | --- | --- |
| 02/10/2009 |  | 3223 |  |

(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.

# OATH OR AFFIRMATION

I, Robert Solomon, swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of Beekman Securities, Inc., 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.

LYNETTE FEDERER

Notary Public, State of New York

No. 01FE4831645

Qualified in New York County

Commission Expires June 4, 2016

Lynette Federer

Robert Solomon

Title:

Managing Director

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.

# BEEKMAN SECURITIES, INC.
FINANCIAL STATEMENTS
December 31, 2022

# TABLE OF CONTENTS

Content

SEC FORM X-17A-5

Report of Independent PCAOB Registered Public Accounting Firm

Statement of Financial Condition

Statement of Operations

Statement of Changes in Stockholders' Equity

Statement of Cash Flows

Notes to Financial Statements

Supplemental Information

Computation of Net Capital

Computation for Determination of Reserve Requirements Under Rule 15c3-3

Information Relating to Processing or Control Requirements under Rule 15c3-3

Report -Independent PCAOB Registered Public Accounting Firm

Exemption Report

**Attachment 2:** `financials1.pdf`

# BEEKMAN SECURITIES, INC.

# FINANCIAL STATEMENTS

DECEMBER 31, 2022

# BEEKMAN SECURITIES, INC.

# Statement of Financial Condition

As at December 31, 2022

# ASSETS

Cash and cash equivalents $6,827

Other assets $2,024

TOTAL ASSETS $8,851

# LIABILITIES AND STOCKHOLDERS' EQUITY

# Liabilities

Accounts Payable $251

Accrued expenses $458

Total Liabilities $709

# Stockholders' Equity

Common Stock - $1 par value; authorized 20,000 shares, 1,225

Issued and outstanding, 1,225 shares

Additional Paid-in Capital 229,007

Accumulated Deficit (222,090)

Total Stockholders' Equity 8,142

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $8,851

# BEEKMAN SECURITIES, INC.

# Statement of Operations

December 31, 2021

INCOME

| Investment Banking Fee | $289,400 |
| --- | --- |
| Total Income | 289,400 |

OPERATING EXPENSES

| Dues & subscriptions | 3,756 |
| --- | --- |
| Insurance | 54,305 |
| Rent & lease | 20,280 |
| Salary | 129,700 |
| Legal & professional services | 2,575 |
| Taxes & Licenses | 86,162 |
| Travel | 18,570 |
| Bank Charges | 55 |
| Total Operating Expenses | 315,403 |

Operating loss (26,003)

# BEEKMAN SECURITIES, INC.

# Statement of Changes in Stockholders' Equity

# For the Year Ended December 31, 2022

|  | Common Stock |  | Additional Paid-in Capital | Accumulated Deficit | Total Stockholder's Equity |
| --- | --- | --- | --- | --- | --- |
|  | Shares | Amount |  |  |  |
| Beginning of Year | 1,225 | $1,225 | $226,507 | $(196,087) | $31,645 |
| Capital Contributions |  |  | 27,500 |  | 27,500 |
| Return of Capital |  |  | (25,000) |  | (25,000) |
| Net Loss |  |  |  | (26,003) | (26,003) |
| Ending Balance 12/31/22 | 1,225 | $1,225 | 229,007 | (222,090) | $8,142 |

# BEEKMAN SECURITIES, INC.

## Statement of Cash Flows

For the Year Ended December 31, 2022

Cash flows from Operating Activities:

Net Income (26,003)

Capital Contributions 27,500

Decrease in other assets 1,750

Decrease in accrued expenses (5,985)

Net cash provided by Operating Activities (2,738)

Cash Flows from Financing Activities

Return of Capital (25,000)

Net cash used in Financing Activities (25,000)

Net decrease in cash and equivalents (27,738)

Cash and equivalents, beginning 34,565

Cash and equivalents, end 6,827

**Attachment 3:** `notes1.pdf`

# BEEKMAN SECURITIES, INC.

# NOTES TO FINANCIAL STATEMENTS

# DECEMBER 31, 2021

# NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Beekman Securities, Inc., (the “Company”), was incorporated September 1990 and is registered broker dealer. The Company is a member of the Financial Industry Regulatory Authority (“FINRA”) and is subject to regulation by the United States Securities and Exchange Commission and FINRA. The Company is a non-clearing broker and does not handle any customer funds or securities.

The Company was formed to assist its clients in arranging financing for affordable housing and healthcare projects.

# Revenue Recognition

Revenue from contracts with customers is recognized when, or as, the Company satisfies its performance obligation by transferring the promised services to the customers. The performance obligation satisfied at a point in time is recognized at the point in time the Company determines the customer obtains control over the promised service. The majority of the Company’s performance obligations are satisfied at a point in time.

For the performance obligation related to the Company serving as an underwriter, control of those bonds transfers to the customer at a point in time. The Company’s principal terms of sale are due upon the trade date of the bonds.

# Cash and Cash Equivalents

The Company considers all highly liquid investments with maturities of three months or less at the time of the purchase to be cash equivalents.

# Use of Estimates and Accounting Basis

The financial statements of the Company have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America, which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

# Income Taxes

Deferred income tax assets and liabilities are computed annually for differences between the financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the tax payable or refundable for the period plus or minus the change during the period in deferred tax assets and liabilities.

# Note 2 - Concentration of Credit Risk

The Company maintains cash balances at a financial institution. Accounts at the institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. As of December 31, 2021, the cash balance did not exceed the FDIC limits.

# Note 3 - Capital Transactions

No additional working capital loans were outstanding as of December 31, 2022.

# Note 4 - Leases

The Company leases office space on a month to month basis under an operating agreement. As such, the Company has elected the practical expedient for short term leases under ASU-2016-02 and therefore there is no right of use asset or liability recognized on the balance sheet as of December 31, 2022. For the year ended December 31, 2021, rent expense amounted to $19,410.

# Note 5 - Net Capital Requirements

The Company is subject to the net capital requirements of rule 15c3-1 of the Securities Exchange Commission, which requires a broker dealer to have at all times sufficient liquid assets to cover indebtedness. In accordance with the rule, the Company is required to maintain minimum net capital of the $5,000 or 1/15 of aggregate indebtedness.

At December 31, 2021, the Company had net capital, as defined, of $6,118 which exceeded the required minimum net capital by $1,118. Aggregate indebtedness at December 31, 2021 totaled $709 and the ratio of aggregate indebtedness to net capital was .306.

# Note 6 - Legal Matters

The Company in the normal course of its business may be named in matters arising from its activities as a broker-dealer. In the opinion of management, based upon discussions with legal counsel, the resolution of any matters will not have a material adverse effect on the financial condition of the Company. As of December 31, 2022, there is no current legal matter.

# Note 7- Subsequent Events

The Company has evaluated subsequent events through February 28, 2023, the date the financial statements were available for issuance.

**Attachment 4:** `supplemental1.pdf`

# Supplemental Information

# BEEKMAN SECURITIES, INC.

# Supplemental Information

# Schedule -I

# Computation of Net Capital

# For the Year Ended December 31, 2022

# Computation of Net Capital Under Rule 15c3-3

# Of the Securities and exchange Commission

Computation of Net Capital Stockholders' Equity $8,142

Deductions - Non Allowable (2,024)

Net Capital, as defined 6,118

Minimum net capital required 5,000

Net Capital in excess of minimum requirement $1,118

Net Capital less greater of 10% of Aggregate Indebtedness or 120% of Net Capital Req. $118

# Computation of Aggregate Indebtedness

Accounts payable and other liabilities $251

# Ratio of aggregate indebtedness to net capital

Total Aggregate indebtedness $251 = .306
Net Capital $6,118

The ratio of aggregate indebtedness to net capital is .306 to 1

Compared to the maximum allowable ratio of 15 to 1.

There are no material differences between this computation of net capital and the corresponding Computation prepared by the Company and included in its unaudited Part II of the Focus Report as of December 31, 2022

# BEEKMAN SECURITIES, INC.

# Schedule-II

# Computation for Determination of Reserve Requirements Under Rule 15c3-3 of the Securities and Exchange Commission

The Company does not claim an exemption under paragraph (k) of 17 C.F.R. 240. 15c3-3. The Company is a Non-Covered firm that relies on Footnote 74 of the SEC Release No. 34-70073. The Company did not, nor will handle customer cash or securities during the year ended December 31, 2022. The Company does not have nor ever had any customer accounts.

# BEEKMAN SECURITIES, INC.

# Schedule III

# Information Relating to Processing or Control

# Requirements under Rule 15c3-3

# As of December 2022

The Company does not claim an exemption under paragraph (k) of 17 C.F.R. 240. 15c3-3. The Company is a Non-Covered firm that relies on Footnote 74 of the SEC Release No. 34-70073. The Company did not, nor will handle customer cash or securities during the year ended December 31, 2022. The Company does not have nor ever had any customer accounts.

**Attachment 5:** `report1.pdf`

![img-0.jpeg](img-0.jpeg)

Mercurius & Associates LLP

(formerly known as AJSH & Co LLP)
LLPIN : AAG-1471

A-94/8, Wazirpur Industrial Area,
Main Ring Road, Delhi - 110052
+91 11 45596689
www.masllp.com
info@masllp.com

# Report of Independent Registered Public Accounting Firm

To the Members of Beekman Securities, Inc.

# Opinion on Financial Condition

We have audited the accompanying statement of financial condition of Beekman Securities, Inc. (the "Company") as of December 31, 2022 and the related notes to the statement. In our opinion, the financial statements present 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

The statement of financial condition and related notes to the statement is the responsibility of the Company's management. Our responsibility is to express an opinion on it 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 statement of financial condition is free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of statement of financial condition, 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 statement of financial condition. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation. We believe that our audit provide a reasonable basis for our opinion.

Mercurius & Associates LLP
(Formerly known as AJSH & Co LLP)

New Delhi, India

February 28, 2023

![img-1.jpeg](img-1.jpeg)

MAS

Mercurius & Associates LLP

(formerly known as AJSH & Co LLP)

LLPIN : AAG-1471

A-94/8, Wazirpur Industrial Area,

Main Ring Road, Delhi - 110052

+91 11 45596689

www.masllp.com

info@masllp.com

# Report of Independent Registered Public Accounting Firm

To the Member of Beekman Securities, Inc.

We have reviewed Beekman Securities, Inc.'s assertions, included in the accompanying Beekman Securities, Inc.'s Exemption Report, in which:

(1) Company does not claim an exemption under paragraph (k) of 17 C.F.R. §240.15c3-3 and
(2) Company stated that it is filing the Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R.§240.17a-5 because the company limits its business activities exclusively to mergers & acquisitions, and private placements of securities and 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, or for, customers; and 3) did not carry PAB accounts (as defined in Rule 15c3-3 throughout the most recent fiscal year ended December 31, 2022, without exception.

The Company's management is responsible for the assertions and for compliance with the provisions of Footnote 74 of the SEC Release No.34-70073 adopting amendments to 17 C.F.R.§240.17a-5 throughout the year ended December 31, 2022.

Our review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included inquiries and other required procedures to obtain evidence about the Company's compliance with the provisions of Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R.§240.17a-5. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's assertions. Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material modifications that should be made to management's assertions referred to above for them to be fairly stated, in all material respects, based on the provisions set forth in SEC Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5.

Mercurius & Associates LLP

Mercurius & Associates LLP

(Formerly known as AJSH & Co LLP)

New Delhi, India

February 28, 2023

[LOGO]

**Attachment 6:** `exemption1.pdf`

BEEKMAN SECURITIES, INC.
177 WEST PUTNAM
GREENWICH, CONNECTICUT 06831
917.328.9568

February 28, 2023

Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549

RE: Exemption Report for SEC Rule 15c3-3 for Fiscal Year 2022

Dear Sir/Madame

Beekman Securities, Inc., (the "Company") is a registered broker-dealer subject to rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. 240.17a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R. 240.17a-5(d)(1) and (4). To the best of its knowledge and belief the Company asserts the following:

1. The Company does not claim an exemption under paragraph (k) of 17 C.F.R. 240.15c3-3, and
2. The Company is filing this Exemption Report relying on Footnote 74 of SEC Release No. 34-70073 adopting amendments to 17 C.F.R. 240.17a-5 because the Company limits its business activities to the private placement of securities in non-underwritten unregistered offerings and sale of interests in hedge funds. 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 or for customers; and (3) did not carry PAB accounts (as defined by SEC Rule 15c3-3) throughout the most recent fiscal year without exception.

I, Robert Solomon, swear that, to my best knowledge and belief, this Exemption Report is true and correct.

By:

Title: Managing Director
February 28, 2023

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

## FORM X-17A-5

### ANNUAL AUDITED REPORT

### Filer Information

**Filer CIK:** 0000920974

**Filer CCC:** XXXXXXXX

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

**Would you like a Return Copy?:** No

### 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:** BEEKMAN SECURITIES, INC.

**Business Address:** 177 WEST PUTNAM AVENUE, GREENWICH, CT, 06831

**Contact Person:** Robert Solomon

**Contact Phone:** 9173289568

### Independent Public Accountant Identification

**Accountant Name:** Mercurius & Associates, LLP

**Accountant Address:** A-94/8 Wazirpur Industrial Area, Main Ring Road, Delhi, K7, 110052

**Accountant Type:** Certified Public Accountant not resident in United States or any of its possessions

### OATH OR AFFIRMATION

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

**Signature:** Robert Solomon

**Title:** Managing Director

**Notarized:** Yes