# EDGAR Filing Document

**Accession Number:** 0001528841
**File Stem:** 0001528841-23-000002
**Filing Date:** 2023-3
**Character Count:** 12473
**Document Hash:** acede3aa73868ceb858ca531f9582889
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001528841-23-000002.hdr.sgml**: 20230306

**ACCESSION NUMBER**: 0001528841-23-000002

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20191231

**FILED AS OF DATE**: 20230306

**DATE AS OF CHANGE**: 20230306

**EFFECTIVENESS DATE**: 20230306

**PERIOD START**: 20190101

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TGP SECURITIES, INC.
- **CENTRAL INDEX KEY:** 0001528841
- **IRS NUMBER:** 452972601
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** X-17A-5
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 008-68955
- **FILM NUMBER:** 23707675

**BUSINESS ADDRESS:**
- **STREET 1:** 6 GLENDALE ROAD
- **STREET 2:** SUITE 1510
- **CITY:** SUMMIT
- **STATE:** NJ
- **ZIP:** 07901
- **BUSINESS PHONE:** 917-432-8618

**MAIL ADDRESS:**
- **STREET 1:** 6 GLENDALE ROAD
- **STREET 2:** SUITE 1510
- **CITY:** SUMMIT
- **STATE:** NJ
- **ZIP:** 07901

### Attached PDF Documents

**Attachment 1:** `dec19_audit_tgp_public.pdf`

# UNITED STATES

# SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

# OMB APPROVAL

OMB Number: 3235-0123

Expires: August 31, 2020

Estimated average burden

hours per response . . . 12.00

# ANNUAL AUDITED REPORT

# FORM X-17A-5

# PART III

# SEC FILE NUMBER

8-68955

# FACING PAGE

Information Required of Brokers and Dealers Pursuant to Section 17 of the Securities Exchange Act of 1934 and Rule 17a-5 Thereunder

| REPORT FOR THE PERIOD BEGINNING | January 1, 2019 | AND ENDING | December 31, 2019 |
| --- | --- | --- | --- |
|  | MM/DD/YY |  | MM/DD/YY |

# A. REGISTRANT IDENTIFICATION

NAME OF BROKER - DEALER:

TGP SECURITIES, INC.

ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.)

6 Glendale Road

(No. and Street)

Summit

New Jersey

07901

(City)

(State)

OFFICIAL USE ONLY

FIRM ID. NO.

NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS REPORT

James Tammaro

(732) 245-0657

(Area Code - Telephone No.)

# B. ACCOUNTANT IDENTIFICATION

INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report*

GR Reid Associates LLP

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

7600 Jericho Turnpike, Suite 400

(Address)

Woodbury

(City)

New York

(State)

11797

(Zip Code)

# CHECK ONE:

☑

Certified Public Accountant

☐

Public Accountant

☐

Accountant not resident in United States or any of its possessions.

# FOR OFFICIAL USE ONLY

*Claims for exemption from the requirement that the annual report be covered by the opinion of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis for the exemption. See section 240.17a-5(e)(2).

SEC 1410 (06-02)

# OATH OR AFFIRMATION

I, James Tammaro, swear (or affirm) that, to the best of my knowledge and belief the accompanying financial statements and supporting schedules pertaining to the firm of TGP Securities, Inc., as of December 31, 2019, are true and correct. I further swear (or affirm) that neither the Company nor any partner, proprietor, principal officer or director has any proprietary interest in any account classified solely as that of a customer, except as follows:

None

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

Notary Public

ANTONIETTA LIVECCHIA
ID # 2352487
NOTARY PUBLIC OF NEW JERSEY
My Commission Expires 11/16/2021

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

This report contains (check all applicable boxes):

(x) (a) Facing page.
(x) (b) Statement of Financial Condition.
( ) (c) Statement of Income (Loss).
( ) (d) Statement of Cash Flows.
( ) (e) Statement of Changes in Stockholders' Equity.
( ) (f) Statement of Changes in Subordinated Liabilities

(not applicable)

( ) (g) Computation of Net Capital Pursuant to Rule 15c3-1 under the Securities Exchange Act of 1934.
( ) (h) Computation for Determination of Reserve Requirements for Brokers and Dealers Pursuant to Rule 15c3-3 under the Securities Exchange Act of 1934. (not applicable)
( ) (i) Information Relating to the Possession or Control Requirements for Brokers and Dealers Pursuant to Rule 15c3-3 under the Securities Exchange Act of 1934 (not applicable).
( ) (j) A Reconciliation, including Appropriate Explanations, of the Computation of Net Capital Under Rule 15c3-1 and the Computation for Determination of the Reserve Requirements Under Rule 15c3-3
( ) (k) A Reconciliation Between the Audited and Unaudited Consolidated Statements of Financial Condition With Respect to Methods of Consolidation (not applicable).
(x) (1) An Oath or Affirmation.
( ) (m) A Copy of the SIPC Supplemental Report.
( ) (n) Report on management's assertion letter regarding 15c3-3 Exemption Report
( ) (o) Management's assertion letter regarding 15c3-3 Exemption Report

# **TGP SECURITIES, INC.**
**STATEMENT OF FINANCIAL CONDITION**
**DECEMBER 31, 2019**

**ASSETS**

| Cash | $56,807 |
| --- | --- |
| Accounts receivable | 158,291 |
| Total assets | $215,098 |

**LIABILITIES AND SHAREHOLDERS' EQUITY**

**Liabilities:**

| Accounts payable and accrued expenses | $169,881 |
| --- | --- |
| Total liabilities | 169,881 |

**Shareholders' equity**

| Capital stock - 1,001,000 shares authorized, 1,000 shares issued and outstanding | 10 |
| --- | --- |
| Additional paid-in capital | 306,643 |
| Retained (deficit) | (261,436) |
| Total shareholders' equity | 45,217 |
| Total liabilities and shareholders' equity | $215,098 |

*The accompanying notes are an integral part of this statement.*

# **TGP SECURITIES, INC.**  
NOTES TO FINANCIAL STATEMENTS  
FOR THE YEAR ENDED DECEMBER 31, 2019

# **Note 1 - Nature of Business**

TGP Securities, Inc. (The 'Company') operates as a registered broker/dealer in securities under the provisions of the Securities Exchange Act of 1934. The Company is a member of the Financial Industry Regulatory Authority ('FINRA') and the Securities Investor Protection Corporation ('SIPC').

The Company is engaged to provide private placement of securities, mergers, acquisitions, and other financial advisory services. The Company does not carry security accounts for customers and does not perform custodial functions relating to customer securities.

Under its membership agreement with FINRA, and, pursuant to Rule 15c3-3(k)(2)(i), the Company conducts business on a fully disclosed basis and does not execute or clear securities transactions for customers. Accordingly, the Company is exempt from the requirement of Rule 15c3-3, under the Securities Exchange Act of 1934, pertaining to the possession or control of customer assets and reserve requirements.

# **Note 2 - Summary of Significant Accounting Policies**

# **a) Revenue Recognition**

Effective January 1, 2018, the Company adopted ASC Topic 606, Revenue from Contracts with Customers ('ASC Topic 606'). The new revenue recognition guidance requires that an entity recognize revenue due 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. The guidance requires 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, and (e) recognize revenue when (or as) the entity satisfies a performance obligation. In determining the transaction price, an entity may include variable consideration 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. The Company applied the modified retrospective method of adoption which resulted in no adjustment to retained earnings as of January 1, 2018.

The principal source of operating revenues is third party marketing fees for obtaining suitable investors for certain client investment syndications and annual registered representative fees. Revenue is recognized in accordance with FASB ASC Topic 606 as services are rendered and the contracts identified performance obligations have been satisfied. There were no unsatisfied performance obligations at December 31, 2019.

# **TGP SECURITIES, INC.**  
NOTES TO FINANCIAL STATEMENTS  
FOR THE YEAR ENDED DECEMBER 31, 2019

# **Note 2 - Summary of Significant Accounting Policies (continued)**

# **b) *Income Taxes***

The amount of current and deferred taxes payable or refundable is recognized as of the date of the financial statements, utilizing currently enacted tax laws and rates. Deferred tax expenses or benefits are recognized in the financial statements for the changes in deferred tax liabilities or assets between years.

# **c) *Cash***

The Company maintains cash in bank accounts which, at times, may exceed federally insured limits or where no insurance is provided. The Company has not experienced any losses in such accounts and does not believe it is exposed to any significant credit risk on cash balances.

# **d) *Use of Estimates***

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.

# **Note 3 - Income Taxes**

The Company has available at December 31, 2019 unused operating loss carry-forwards of approximately $118,000 which may be applied against future taxable income, resulting in a deferred tax asset of approximately $35,000 that expires from 2034-2039. A 100% valuation allowance has been established against this asset since management cannot determine if it is more likely than not that the asset will be realized.

# **Note 4 - Net Capital Requirement**

The Company is subject to the Securities and Exchange Commission Uniform Net Capital Rule (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%. At December 31, 2019, the Company had net capital of $32,226 which was $20,901 over its required net capital of $11,325. The Company’s net capital ratio was 5.27%.

# **TGP SECURITIES, INC.**  
NOTES TO FINANCIAL STATEMENTS  
FOR THE YEAR ENDED DECEMBER 31, 2019

# **Note 5 - Compliance with Rule 15c3-3**

The Company claims exemption from the requirements of Rule 15c3-3, under Section (k)(2)(i) of the Rule.

# **Note 6 - Subsequent Events**

The Company has performed an evaluation of events that have occurred subsequently to December 31, 2018, and through February 27, 2020 the date of the filing of this report. There have been no material subsequent events that occurred during such period that would require disclosure in this report or would be required to be recognized in the financial statements as of December 31, 2019.

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

## FORM X-17A-5

### ANNUAL AUDITED REPORT

### Filer Information

**Filer CIK:** 0001528841

**Filer CCC:** XXXXXXXX

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

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

### Submission Information

**Report Period Begin Date:** 01-01-2019

**Report Period End Date:** 12-31-2019

**Type of Registrant:** Broker-dealer

**Any material weaknesses identified?:** No

### Registrant Identification

**Name of Broker-Dealer:** TGP SECURITIES, INC.

**Business Address:** 6 GLENDALE ROAD, SUITE 1510, SUMMIT, NY, 07901

**Contact Person:** James Tammaro

**Contact Phone:** 732-245-0657

### Independent Public Accountant Identification

**Accountant Name:** GR Reid Assoc LLP

**Accountant Address:** 7600 Jericho Turnpike, Suite 402, Woodbury, NY, 11797

**Accountant Type:** Certified Public Accountant

### OATH OR AFFIRMATION

I, **James Tammaro**, swear (or affirm) that, to the best of my knowledge and belief, the accompanying financial statements and supporting schedules pertaining to the firm of **TGP SECURITIES, INC.**, as of **12-31-2019**, are true and correct.

**Signature:** James Tammaro

**Title:** President

**Notarized:** Yes