# EDGAR Filing Document

**Accession Number:** 0001428006
**File Stem:** 0001428006-23-000003
**Filing Date:** 2023-3
**Character Count:** 18743
**Document Hash:** 850584e732d46233858f88bbd99e9f5d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001428006-23-000003.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0001428006-23-000003

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**EFFECTIVENESS DATE**: 20230331

**PERIOD START**: 20220101

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EASTGATE SECURITIES, LLC
- **CENTRAL INDEX KEY:** 0001428006
- **IRS NUMBER:** 205570795
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** X-17A-5
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 008-67837
- **FILM NUMBER:** 23789804

**BUSINESS ADDRESS:**
- **STREET 1:** 866 UNITED NATIONS PLAZA 406
- **STREET 2:** SUITE 102
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 347-915-8999

**MAIL ADDRESS:**
- **STREET 1:** 4512 244TH STREET
- **STREET 2:** SUITE 102
- **CITY:** LITTLE NECK
- **STATE:** NY
- **ZIP:** 11362

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** J. STREICHER CAPITAL LLC
- **DATE OF NAME CHANGE:** 20140102

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** J. STREICHER CAPITAL
- **DATE OF NAME CHANGE:** 20140102

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** J. STREICHER CAPITAL LLC
- **DATE OF NAME CHANGE:** 20140102

### Attached PDF Documents

**Attachment 1:** `EGS2022AnnualReportPublic.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 01/01/2022 AND ENDING 12/31/2022
MM/DD/YY MM/DD/YY

# A. REGISTRANT IDENTIFICATION

NAME OF FIRM: Eastgate 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.)

866 United Nations Plaza, Suite 406

(No. and Street)

| New York | NY | 10017 |
| --- | --- | --- |
| (City) | (State) | (Zip Code) |

PERSON TO CONTACT WITH REGARD TO THIS FILING

| Edward Yao | 347-9158999 | eyao@eastgatesecurities.com |
| --- | --- | --- |
| (Name) | (Area Code - Telephone Number) | (Email Address) |

# B. ACCOUNTANT IDENTIFICATION

INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*

WWC, P.C.

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

| 2010 Pioneer Court | San Mateo | CA | 94403 |
| --- | --- | --- | --- |
| (Address) | (City) | (State) | (Zip Code) |
| 03/14/2006 |  | 1171 |  |

(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, Edward Yao ____, swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of Eastgate 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.

EVENOLD GUILLOMAITRE
Notary Public
Massachusetts
My Commission Expires
Jul 19, 2024
Signature: [Signature]
Title:
CFO/FINOP/CCO

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.

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

WWC, P.C. CERTIFIED PUBLIC ACCOUNTANTS

# REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Shareholders of
Eastgate Securities LLC

# Opinion on the Financial Statements

We have audited the accompanying statement of financial condition of Eastgate Securities LLC as of December 31, 2022, and the related notes and supplemental schedules (collectively referred to as the “financial statement”). In our opinion, the financial statements present fairly, in all material respects, the financial position of Eastgate Securities LLC as of December 31, 2022, in conformity with accounting principles generally accepted in the United States of America.

# Basis for Opinion

These financial statements are the responsibility of Eastgate Securities LLC’s management. Our responsibility is to express an opinion on Eastgate Securities LLC’s financial statements 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 Eastgate Securities LLC 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 statements are 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 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. 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.

WWC, P.C.
Certified Public Accountants
PCAOB ID No. 1171

We have served as Eastgate Securities LLC’s auditor since 2021.
San Mateo, CA

March 23, 2023

2010 PIONEER COURT, SAN MATEO, CA 94403 TEL.: (650) 638-0808 FAX: (650) 638-0878
E-MAIL: INFO@WWCCPA.COM WEBSITE: WWW.WWCCPA.COM

EASTGATE Securities

# Eastgate Securities, LLC
## Statement of Financial Condition
As of December 31, 2022

| ASSETS |  |
| --- | --- |
| Cash | $7,548 |
| Prepaid Expenses | 7,903 |
| TOTAL ASSETS | $15,451 |
| LIABILITIES AND EQUITY |  |
| Liabilities | $0 |
| Total Liabilities | $0 |
| Equity |  |
| Member's Equity | $15,451 |
| TOTAL LIABILITIES AND EQUITY | $15,451 |

The accompanying notes are an integral part of these statements.

1 | Page

**EASTGATE**^{}[] *Securities*

## **Eastgate Securities LLC**### **Notes to the Financial Statements**#### **For the year ended December 31, 2022**

1. Organization and Nature of the Business Eastgate Securities, LLC (the “Company”) was incorporated in the State of Delaware in July 2006. The Company is a registered broker-dealer with the Securities and Exchange Commission (“SEC”) and a member of the Financial Industry Regulatory Authority (“FINRA”) and the Securities Investor Protection Corporation (“SIPC”).

#### 2. Summary of Significant Accounting Policies

##### a) Basis of Accounting

The financial statements are prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America.

##### b) Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents consist of funds maintained in checking and money market accounts held at financial institutions. The Company’s cash and cash equivalents are held principally at one financial institution and at times may exceed federally insured limits. The Company has placed these funds in high-quality financial institutions in order to mitigate the risk of loss from exceeding insured limits.

##### c) Revenue Recognition

Revenues include fees arising from client offerings in which the Company acts as a placement agent. Revenue earned when acted as placement agent are earned when the performance obligation is satisfied which is evidenced by the funds being delivered to the Company’s clients from investors. Revenues also include fees earned from providing financial consulting services. Consulting service income is considered earned and performance obligations are met when the Company has completed provided advice, conducted research, and liaise with other certain service providers these services maybe recognized over time are the completion of certain benchmarks. Fees received are not typically refundable. The Company typically receives payment after it has started rendering services; however, it is typically much prior to completion of the entire engagement. The company had no revenues during the fiscal year ended December 31, 2022.

##### d) Income Taxes

The LLC is treated as a disregarded entity and has no federal or state tax liabilities. Any liability on profits is reported on the tax return of the parent entity and passed along to the individual members. The tax

---

The accompanying notes are an integral part of these statements.

2 | Page

**EASTGATE**^{}[] *Securities*

years since inception remain open to examination by the major taxing jurisdictions to which the LLC is subject. Accordingly, no provision for income taxes is provided in the financial statements.

The Company is required to file income tax returns in both state and city tax jurisdictions. The Company’s tax returns are subject to examination by taxing authorities in the jurisdictions in which it operates in accordance with the normal statutes of limitations in the applicable jurisdiction. The statute for limitations for state purposes is generally three years, but may exceed this limitation depending upon the jurisdiction involved. Returns that were filed within the applicable statute remain subject to examination. As of December 31, 2022, state and city taxing authorities have not proposed any adjustment to the Company’s tax position.

#### e) Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

### 3. Commitments and Contingencies

The Company had no commitments, no contingent liabilities and had not been named as a defendant in any lawsuit at December 31, 2022 or during the year then ended.

#### Leases

The Company accounts for its leases in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Update 2016-02 Leases. As of December 31, 2022, the company does not have any lease obligations.

#### Related Party Transactions

The Company has had an expense-sharing agreement with its Parent for the year ended December 2022, during which the Company’s Parent pay and record some of its operating expenses directly according to the expense sharing agreement. For the year ended December 31, 2022, the Parent did not allocate any expenses to the Company.

#### Guarantees

FASB ASC 460, Guarantees, requires the Company to disclose information about its obligations under certain guarantee arrangements. FASB ASC 460 defines guarantees as contracts and indemnification agreements that contingently require a guarantor to make payments to the guaranteed party based on changes in an underlying factor (such as an interest or foreign exchange rate, security or commodity price, an index or the occurrence or nonoccurrence of a specified event) related to an asset, liability or equity security of a guaranteed party. This guidance also defines guarantees as contracts that contingently require the guarantor to make payments to the guaranteed party based on another entity’s failure to perform under an agreement as well as indirect guarantees of indebtedness of others.

The Company has issued no guarantees at December 31, 2022 or during the year then ended.

---

The accompanying notes are an integral part of these statements.

3 | Page

**EASTGATE**^{}[] *Securities*

#### 4. Net Capital Requirement

The Company is subject to the Securities and Exchange Commission Uniform Net Capital Rule (15c3-1), which requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 1500%. As of December 31, 2022 the Company had net capital of $7,548 which was $2,548 over its required net capital of $5,000. The Company’s aggregate indebtedness to net capital ratio was 0%.

#### 5. Going Concern

The Company is currently operating on a going concern basis due to its $11,590 net loss for the year ended December 31, 2022. Management has plans to increase capital and to attain net profitability. The Parent asserts to provide financial support, as needed, to the Company for the foreseeable future, which would most likely consist of additional capital contributions.

#### 6. Subsequent Events

The Company has evaluated events subsequent to the statement of financial condition date for items requiring recording or disclosure in the financial statements. The evaluation was performed through March 23, 2023, the date the financial statements were available to be issued. Based upon this review, the Company has determined that there were no events which took place that would have a material impact on its financial statements.

---

The accompanying notes are an integral part of these statements.

4 | Page

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

## FORM X-17A-5

### ANNUAL AUDITED REPORT

### Filer Information

**Filer CIK:** 0001428006

**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:** EASTGATE SECURITIES, LLC

**Business Address:** 866 UNITED NATIONS PLAZA 406, NEW YORK, CA, 10017

**Contact Person:** Edward Yao

**Contact Phone:** 3479158999

### Independent Public Accountant Identification

**Accountant Name:** WWC, P.C., Certified Public Accountants

**Accountant Address:** 2010 Pioneer Court, San Mateo, CA, 94403

**Accountant Type:** Certified Public Accountant

### OATH OR AFFIRMATION

I, **Edward Yao**, swear (or affirm) that, to the best of my knowledge and belief, the accompanying financial statements and supporting schedules pertaining to the firm of **EASTGATE SECURITIES, LLC**, as of **03-31-2023**, are true and correct.

**Signature:** Edward Yao

**Title:** CFO/FINOP/CCO

**Notarized:** Yes