# EDGAR Filing Document

**Accession Number:** 0000770447
**File Stem:** 0000770447-23-000002
**Filing Date:** 2023-3
**Character Count:** 15691
**Document Hash:** 0e2fa61f264264ea74c99d0578a180ee
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000770447-23-000002.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0000770447-23-000002

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

**CONFIRMING COPY**: 

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**PERIOD START**: 20220101

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PACIFIC GATE ADVISORS, LLC
- **CENTRAL INDEX KEY:** 0000770447
- **IRS NUMBER:** 391470433
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** X-17A-5
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 008-34213

**BUSINESS ADDRESS:**
- **STREET 1:** 1086 HAMER COURT
- **STREET 2:** 55 S. MAIN STREET, STE 325
- **CITY:** BRENTWOOD
- **STATE:** TN
- **ZIP:** 37027
- **BUSINESS PHONE:** 331-330-0077

**MAIL ADDRESS:**
- **STREET 1:** 9005 OVERLOOK BLVD
- **STREET 2:** 55 S. MAIN STREET, STE 325
- **CITY:** BRENTWOOD
- **STATE:** TN
- **ZIP:** 37027

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AGAVE PARTNERS ADVISORS, INC.
- **DATE OF NAME CHANGE:** 20181012

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AGAVE PARTNERS ADVISORS, LLC
- **DATE OF NAME CHANGE:** 20180131

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AGAVE PARTNERS ADVISORS, INC.
- **DATE OF NAME CHANGE:** 20170608

### Attached PDF Documents

**Attachment 1:** `PacificGateAdvisorsLLC1.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

8-34213

# 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: Pacific Gate Advisors, 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.)

1086 Hamer Court

| (No. and Street) |  |  |
| --- | --- | --- |
| Brentwood | Tennessee | 37027 |
| (City) | (State) | (Zip Code) |

PERSON TO CONTACT WITH REGARD TO THIS FILING

| Robert Marassa Jr. | 331 330-0077 | marassa@pacificgatepartners.com |
| --- | --- | --- |
| (Name) | (Area Code - Telephone Number) | (Email Address) |

# B. ACCOUNTANT IDENTIFICATION

INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*

Thomas Faust, CPA, LLC d/b/a Thomas Faust, CPA

| (Name - if individual, state last, first, and middle name) |  |  |  |
| --- | --- | --- | --- |
| 174 Coldbrook Ct. | Lafayette | Indiana | 47909 |
| (Address) | (City) | (State) | (Zip Code) |
| 02/14/18 |  | 6479 |  |

(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 Marassa Jr, swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of PACIFIC GATE ADVISORS, 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.

DHS
Notary Public Razah Drennon
Commission Expires on 01/06/2025

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.

# **Pacific Gate Advisors, Inc.**

# **Report on Audit of  
Financial Statements**

**December 31, 2022**

**THOMAS FAUST, CPA**  
Certified Public Accountant

# **PACIFIC GATE ADVISORS, LLC**
**FINANCIAL STATEMENTS**
**YEAR ENDED DECEMBER 31, 2022**

# **CONTENTS**

|  | Page |
| --- | --- |
| Report of Independent Registered Public Accounting Firm | 1 |
| Statement of Financial Condition | 2 |
| Statement of Income | 3 |
| Statement of Changes in Member's Equity | 4 |
| Statement of Cash Flows | 5 |
| Notes to Financial Statements | 6 - 8 |
| Supplementary Information: |  |
| Schedule 1: Computation of Net Capital under Rule 15c3-1 of the Securities and Exchange Commission | 9 |
| Report of Independent Registered Public Accounting Firm |  |
| Management's Exemption Report | 10 |
| Independent Auditor's Report on Applying Agreed-Upon Procedures Related to an Entity's SIPC Assessment Reconciliation |  |
| SIPC-7 General Assessment Reconciliation | 11 |

## **THOMAS FAUST, CPA**

Certified Public Accountant

174 Coldbrook Ct.

Lafayette, IN 47909

765-237-9185 thomasfaustcpa2@gmail.com

# REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Pacific Gate Advisors, LLC

## Opinion on the Financial Statements

I have audited the accompanying statement of financial condition of Pacific Gate Advisors, LLC, as of December 31, 2022, the related statements of income, changes in member's equity, and cash flows for the year then ended, and the related notes and schedules (collectively referred to as the financial statements). In my opinion, the financial statements present fairly, in all material aspects, the financial position of Pacific Gate Advisors, LLC as of December 31, 2022 and the results of its operations and 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 Pacific Gate Advisors, LLC's management. My responsibility is to express an opinion on Pacific Gate Advisors, LLC's financial statements based on my audit. I am a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and am required to be independent with respect to Pacific Gate Advisors, LLC in accordance with the U.S. federal securities laws and the applicable rules and the regulations of the Securities and Exchange Commission and the PCAOB.

I conducted my audit in accordance with the standards of the PCAOB. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. My audit included performing procedures to assess the risks of material misstatement of the financial statements, 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. My 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. I believe that my audit provides a reasonable basis for my opinion.

## Supplemental Information

The Schedule I, Computation of Net Capital Under Rule 15c3-1 of the Securities and Exchange Commission, has been subjected to audit procedures performed in conjunction with the audit of Pacific Gate Advisors, LLC's financial statements. The supplemental information is the responsibility of Pacific Gate Advisors, LLC's management. My audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming my opinion on the supplemental information, I evaluated whether the supplemental information, including its form and content, is presented in conformity with 17 C.F.R. §240.17a-5. In my opinion, Schedule I, Computation of Net Capital Under Rule 15c3-1 of the Securities and Exchange Commission is fairly stated, in all material respects, in relation to the financial statements as a whole.

*Pacific Gate Advisors, LLC*

Thomas Faust, CPA, LLC
d/b/a/ Thomas Faust, CPA

I have served as the Company's auditor since 2021.

Lafayette, Indiana
March 30, 2023

Pacific Gate Advisors, LLC

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

# **PACIFIC GATE ADVISORS, LLC**  
**STATEMENT OF FINANCIAL CONDITION**  
**DECEMBER 31, 2022**

# **ASSETS**

| Cash | $ | 31,520 |
| --- | --- | --- |
| Accounts receivable |  | 168,339 |
| Total assets |  | 199,859 |

# **LIABILITIES AND MEMBERS' EQUITY**

| Liabilities | $ | - |
| --- | --- | --- |
| Members’ Equity | $ | 199,859 |
| Total Liabilities and Members’ Equity | $ | 199,859 |

See notes to financial statements.

2

# **PACIFIC GATE ADVISORS, LLC**  
**STATEMENT OF INCOME**  
**FOR THE YEAR ENDED DECEMBER 31, 2022**

# **Revenues:**

| Consulting retainer fees | $ | 582,999 |
| --- | --- | --- |
| Success placement fees |  | 978,655 |

**Total revenues** 1,561,654

# **Expenses:**

| Compensation, Occupancy, and other expenses |  | 1,297,000 |
| --- | --- | --- |
| Bad Debt Expense |  | 180,485 |
| Regulatory fees |  | 7,607 |
| Communications and data processing |  | 1,029 |
| Miscellaneous |  | 301 |

Total expenses 1,486,422

**Net Income (Loss)** $75,232

The accompanying notes are an integral part of the financial statements.

3

# **PACIFIC GATE ADVISORS, LLC**  
**STATEMENT OF CHANGES IN MEMBER'S EQUITY**  
**FOR THE YEAR ENDED DECEMBER 31, 2022**

| Balance at beginning of year | $124,627 |
| --- | --- |
| Net income (loss) | 75,232 |
| Member distributions | 0 |
| Balance at end of year | $199,859 |

The accompanying notes are an integral part of the financial statements.

4

# **PACIFIC GATE ADVISORS, LLC**
**STATEMENT OF CASH FLOWS**
**FOR THE YEAR ENDED DECEMBER 31, 2022**

**Cash flows from operating activities:**

| Net income | $ | 75,232 |
| --- | --- | --- |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities |  |  |
| (Increase) decrease in operating assets: |  |  |
| Accounts receivable |  | (67,020) |
| Increase (decrease) in operating liabilities: |  |  |
| Accounts payable |  | - |
| Net cash used in operating activities |  | 8,212 |

**Cash flows from financing activities**

| Retained earnings |  |  |
| --- | --- | --- |
| Net cash used in financing activities |  | 0 |
| Net increase in cash |  | 8,212 |

| Cash at beginning of year |  | 23,308 |
| --- | --- | --- |

| Cash at end of year | $ | 31,520 |
| --- | --- | --- |

**Supplemental Cash Flow Disclosures**

| Cash paid during the year for: |  |  |
| --- | --- | --- |
| Income taxes | $ | - |
| Interest | $ | - |

The accompanying notes are an integral part of the financial statements.

5

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

## FORM X-17A-5

### ANNUAL AUDITED REPORT

### Filer Information

**Filer CIK:** 0000770447

**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:** PACIFIC GATE ADVISORS, LLC

**Business Address:** 1086 HAMER COURT, BRENTWOOD, TN, 37027

**Contact Person:** Robert Marassa

**Contact Phone:** 331-330-0077

### Independent Public Accountant Identification

**Accountant Name:** Thomas Faust CPA

**Accountant Address:** 174 Coldbrook Ct., Lafayette, IN, 47909

**Accountant Type:** Certified Public Accountant

### OATH OR AFFIRMATION

I, **Robert Marassa**, swear (or affirm) that, to the best of my knowledge and belief, the accompanying financial statements and supporting schedules pertaining to the firm of **PACIFIC GATE ADVISORS, LLC**, as of **12-31-2022**, are true and correct.

**Signature:** Robert Marassa

**Title:** Managing Member

**Notarized:** Yes