# EDGAR Filing Document

**Accession Number:** 0001435414
**File Stem:** 0001293534-23-000003
**Filing Date:** 2023-2
**Character Count:** 27716
**Document Hash:** c50ba6e83c6e73eef5ebd40cba05bc38
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001293534-23-000003.hdr.sgml**: 20230207

**ACCESSION NUMBER**: 0001293534-23-000003

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230207

**DATE AS OF CHANGE**: 20230207

**EFFECTIVENESS DATE**: 20230207

**PERIOD START**: 20220101

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PARAMAX SECURITIES, LLC
- **CENTRAL INDEX KEY:** 0001435414
- **IRS NUMBER:** 161445552
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** X-17A-5
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 008-67902
- **FILM NUMBER:** 23594851

**BUSINESS ADDRESS:**
- **STREET 1:** 333 INTERNATIONAL DRIVE
- **STREET 2:** SUITE A
- **CITY:** WILLIAMSVILLE
- **STATE:** NY
- **ZIP:** 14221
- **BUSINESS PHONE:** 716.626.1200

**MAIL ADDRESS:**
- **STREET 1:** 333 INTERNATIONAL DRIVE
- **STREET 2:** SUITE A
- **CITY:** WILLIAMSVILLE
- **STATE:** NY
- **ZIP:** 14221

### Attached PDF Documents

**Attachment 1:** `2022auditparamax-.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

# 8-67902

# 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: Paramax 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.)

333 International Drive, STE A

| (No. and Street) |  |  |  |
| --- | --- | --- | --- |
| Williamsville |  | NY | 14221 |
| (City) |  | (State) | (Zip Code) |
| PERSON TO CONTACT WITH REGARD TO THIS FILING |  |  |  |
| Russell D'Alba | 716-626-1200 |  | rjd@paramaxsecurities.com |
| (Name) | (Area Code - Telephone Number) |  | (Email Address) |
| B. ACCOUNTANT IDENTIFICATION |  |  |  |

INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*

Phillip V. George, PLLC

| (Name - if individual, state last, first, and middle name) |  |  |  |
| --- | --- | --- | --- |
| 5179 CR 1026 | Celeste | TX | 75423 |
| (Address) | (City) | (State) | (Zip Code) |
| 02/24/2009 |  | 3366 |  |
| (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, Michael Schaps, swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of Paramax Securities, LLC, as of December 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.

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

Michael R Schaps

Adriana Rosales

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.

# **PARAMAX SECURITIES, LLC**  
**FINANCIAL STATEMENTS AND SUPPLEMENTARY SCHEDULE**  
**YEAR ENDED DECEMBER 31, 2022**

# PARAMAX SECURITIES, LLC

# FINANCIAL STATEMENTS AND SUPPLEMENTARY SCHEDULES

# YEAR ENDED DECEMBER 31, 2022

# TABLE OF CONTENTS

Report of Independent Registered Public Accounting Firm 1

# FINANCIAL STATEMENTS:

Statement of Financial Condition 2

Statement of Operations 3

Statement of Changes in Member's Equity 4

Statement of Cash Flows 5

Notes to Financial Statements 6 - 8

Schedule I: Supplemental information pursuant to Rule 17a-5 9

Report of Independent Registered Public Accounting Firm 10
On Exemption Report

Paramax Securities, LLC's Exemption Report 11

# PHILLIP V. GEORGE, PLLC

# CERTIFIED PUBLIC ACCOUNTANT

# REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Managing Member

Paramax Securities, LLC

# Opinion on the Financial Statements

We have audited the accompanying statement of financial condition of Paramax Securities, LLC as of December 31, 2022, the related statements of operations, changes in member's equity, and cash flows for the year then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of Paramax Securities, 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 Paramax Securities, LLC's management. Our responsibility is to express an opinion on Paramax 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 Paramax 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.

# Auditor's Report on Supplemental Information

The supplemental information contained in Schedule I has been subjected to audit procedures performed in conjunction with the audit of Paramax Securities, LLC's financial statements. The supplemental information is the responsibility of Paramax Securities, LLC's management. Our 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 our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with 17 C.F.R. §240.17a-5. In our opinion, the supplemental information contained in Schedule I is fairly stated, in all material respects, in relation to the financial statements as a whole.

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

PHILLIP V. GEORGE, PLLC

We have served as Paramax Securities, LLC's auditor since 2019.

Celeste, Texas

January 23, 2023

1

5179 CR 1026 Celeste, TX 75423 (214) 358-5150 Fax (214) 358-0222 phil@pvgeorge.com

# PARAMAX SECURITIES, LLC
STATEMENT OF FINANCIAL CONDITION
DECEMBER 31, 2022

Assets

| Cash | $115,455 |
| --- | --- |
| Prepaid expenses | 10,354 |
| Total Assets | $125,809 |

Liabilities and Member's Equity

| Liabilities |  |
| --- | --- |
| Accounts payable and accrued expenses | $6,132 |
| Member's Equity | 119,677 |
| Total Liabilities & Member's Equity | $125,809 |

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

2

# PARAMAX SECURITIES, LLC
## STATEMENT OF OPERATIONS
### YEAR ENDED DECEMBER 31, 2022

Revenues:

| Merger and acquisition services | $7,002,817 |
| --- | --- |
| Interest income | 254 |
| Total Revenues | 7,003,071 |

Expenses:

| Compensation and related costs | 1,911,258 |
| --- | --- |
| Communication and data processing | 6,364 |
| Office and administrative services - Parent | 51,771 |
| Professional fees | 38,500 |
| Regulatory fees | 30,202 |
| Other expenses | 26,152 |
| Total Expenses | 2,064,247 |
| Net Income | $4,938,824 |

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

3

# **PARAMAX SECURITIES, LLC**  
**STATEMENT OF CHANGES IN MEMBER'S EQUITY**  
**YEAR ENDED DECEMBER 31, 2022**

| Balance at December 31, 2021 | $740,853 |
| --- | --- |
| Net income | 4,938,824 |
| Distributions to member | (5,560,000) |
| Balance at December 31, 2022 | $119,677 |

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

4

# PARAMAX SECURITIES, LLC
## STATEMENT OF CASH FLOWS
### YEAR ENDED DECEMBER 31, 2022

| Cash flows from operating activities: |  |
| --- | --- |
| Net income | $4,938,824 |
| Adjustments required to reconcile net income to cash provided by operating activities: |  |
| Change in assets and liabilities: |  |
| Increase in prepaid expenses | (213) |
| Decrease in accounts payable and accrued expenses | (3,817) |
| Net cash provided by operating activities: | 4,934,794 |
| Cash flows from financing activities: |  |
| Distributions to member | (5,560,000) |
| Net cash used in financing activities | (5,560,000) |
| Net decrease in cash | (625,206) |
| Cash - beginning of year | 740,661 |
| Cash - end of year | $115,455 |
| Supplemental Disclosures of Cash Flow Information: |  |
| Cash paid during the year for : |  |
| Income taxes - state | $ - |
| Interest | $ - |

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

5

# PARAMAX SECURITIES, LLC
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2022

# Note 1 - Nature of business:

Paramax Securities, LLC (the “Company”), was organized in May 2007 as a New York limited liability company. The Company is a wholly owned subsidiary of Paramax Corporation (“Parent” or “Member”), a New York corporation. The Company is registered as a broker-dealer with the Securities and Exchange Commission (“SEC”) and is a member of the Financial Industry Regulatory Authority, Inc. (“FINRA”) and Securities Investor Protection Corp. (“SIPC”).

The Company is considered a Non-Covered Firm exempt from 17 C.F.R. § 240.15c3-3 relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5. The Company limits its business activities exclusively to receiving transaction-based compensation for identifying potential merger and acquisition opportunities for clients.

The Company’s operations consist primarily in providing merger and acquisition services, through referrals from its Parent, to early stage and growth stage entities located throughout the United States.

# Note 2 - Summary of significant accounting policies:

# Use of estimates:

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of the assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

# Revenue recognition:

Revenue from contracts with customers includes advisory services on mergers and acquisitions (M&A). The recognition and measurement of revenue is based on the assessment of individual contract terms. Significant judgment is required to determine whether performance obligations are satisfied at a point in time or over time; how to allocate transaction prices where multiple performance obligations are identified; when to recognize revenue based on the appropriate measure of the Company’s progress under the contract; and whether constraints on variable consideration should be applied due to uncertain future events.

Revenue for M&A advisory arrangements is generally recognized at the point in time that performance under the arrangement is completed, generally the closing date of the transaction.

6

# PARAMAX SECURITIES, LLC
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2022

Note 2 - Summary of significant accounting policies (continued):

Income taxes:

The Company is a single member limited liability company and is disregarded for federal income tax purposes. The Company's taxable income or loss is included in the tax return of its Parent. The Parent has elected to be taxed under the provisions of Subchapter S of the Internal Revenue Code, resulting in all the federal tax liabilities or benefits relating to the operations of the Company and the Parent passing through to the individual shareholder of the Parent; therefore, federal income taxes are not payable by, or provided for, the Company.

Note 3 - Net capital requirement:

The Company is subject to the SEC Uniform Net Capital Rule (SEC 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 15 to 1. Rule 15c3-1 also provides that equity capital may not be withdrawn or cash dividends paid if the resulting net capital ratio would exceed 10 to 1. At December 31, 2022, the Company had net capital of $109,323, which was $104,323 in excess of its net capital requirement of $5,000. The Company's net capital ratio was .056 to 1.

Note 4 - Related party transactions/Concentration/Economic dependency:

The Company is under the control of the Parent and is economically dependent on the Parent. The existence of that control and dependency creates operating results and financial position significantly different than if the Companies were autonomous. Transactions between the Company and the Parent were not consummated on terms equivalent to arm's length transactions.

The Company provides merger and acquisition services through referrals from its Parent. During 2022, the Company earned all of its merger and acquisition services revenue through referrals from its Parent.

The Company made distributions totaling $5,560,000 to the Member during the year.

The sole shareholder of the Parent, who is also an officer and registered securities representative of the Company, generated approximately 26% of the Company's revenue and accounted for approximately 26% of the Company's compensation and related costs for the year. The Company is economically dependent upon this individual due to the concentration of services provided.

The Parent acts as a common paymaster for the Company and regularly pays payroll and other costs on behalf of the Company, which the Company settles on a regular basis.

7

# PARAMAX SECURITIES, LLC
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2022

# Note 4 - Related party transactions/Concentration/Economic dependency (continued):

The Company is a participating employer in a 401(k) plan offered by its Parent. The plan covers substantially all employees. Under this plan, employees may make elective contributions as allowed under federal law and the Company may make matching and discretionary contributions. For the year ended December 31, 2022, the Company made matching contributions of $28,881, which are included in compensation and related costs in the accompanying statement of operations.

The Company and its Parent have entered into an office and administrative services agreement (“Agreement”) effective September 1, 2013, for a one-year term, automatically renewable, unless canceled by either Party. The Agreement has automatically renewed through August 31, 2023. Under the Agreement the Parent provides management and back office services required by the Company, including, but not limited to administrative services, office space, office equipment and supplies, payroll (excluding commissions), marketing, sales, legal and accounting services. The Agreement required the Company to pay a proportional allocation services fee of $4,314 per month for 2022. Fees under the Agreement totaled $51,771 for the year ended December 31, 2022.

# Note 5 - Concentration of credit risk:

At various times during the year the Company maintains cash balances at one national bank in excess of federally insured amounts. Cash balances fluctuate on a daily basis. At December 31, 2022, there was no of uninsured Cash.

# Note 6 - Contingencies:

There are currently no asserted claims or legal proceedings against the Company, however, the nature of the Company's business subjects it to various claims, regulatory examinations, and other proceedings in the ordinary course of business. The ultimate outcome of any such future action against the Company could have an adverse impact on the financial condition, results of operations, or cash flows of the Company.

# Note 7 - Subsequent events:

Management has evaluated the Company's events and transactions that occurred subsequent to December 31, 2022, through January 23, 2023, the date which the financial statements were available to be issued.

8

# SCHEDULE I

# PARAMAX SECURITIES, LLC

# SUPPLEMENTAL INFORMATION PURSUANT TO RULE 17A-5

# DECEMBER 31, 2022

Computation of Net Capital

| Member's equity qualified for net capital | $119,677 |
| --- | --- |
| Non-allowable assets: |  |
| Prepaid expenses | 10,354 |
| Total non-allowable assets | 10,354 |
| Net capital | $109,323 |
| Aggregate indebtedness: |  |
| Accounts payable and accrued expenses | 6,132 |
| Total aggregate indebtedness | $6,132 |
| Minimum net capital requirement - the greater of $5,000 |  |
| or 6 2/3% of aggregate indebtedness | $5,000 |
| Excess net capital | $104,323 |
| Ratio of aggregate indebtedness to net capital | 0.056 to 1 |

# Reconciliation of Computation of Net Capital

The above computation does not differ from the computation of net capital under Rule 15c3-1 as of December 31, 2022 as filed by Paramax Securities, LLC on Form X-17A-5. Accordingly, no reconciliation is deemed necessary.

# Statement of Changes in Liabilities Subordinated to Claims of General Creditors

No statement is required as no subordinated liabilities existed at any time during the year.

# Statement Regarding Reserve Requirements and Possession or Control Requirements

The Company is considered a Non-Covered Firm exempt from 17 C.F.R. § 240.15c3-3 relying on Footnote 74 of the SEC Release No.34-70073 adopting amendments to 17 C.F.R. § 240.17a-5. The Company limits its business activities exclusively to receiving transaction-based compensation for identifying potential merger and acquisition opportunities for clients. As a Non-Covered Firm, the Computation of Determination of the Reserve Requirements and Information Relating to the Possession or Control Requirements are not required.

See accompanying report of independent registered public accounting firm.

9

# PHILLIP V. GEORGE, PLLC

# CERTIFIED PUBLIC ACCOUNTANT

# REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Managing Member

Paramax Securities, LLC

We have reviewed management's statements, included in the accompanying Rule 15c3-3 Exemption Report pursuant to SEC Rule 17a-5, in which (1) Paramax Securities, LLC(the Company) did 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 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 receiving transaction-based compensation for identifying potential merger and acquisition opportunities for clients. In addition, the Company did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers; did not carry accounts of or for customers; and did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception.

Paramax Securities, LLC's management is responsible for compliance with the exemption provisions and its statements.

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 Paramax Securities, LLC's compliance with the exemption provisions. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's statements. 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 statements referred to above for them to be fairly stated, in all material respects, based upon the Company's business activities contemplated by Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5, and related SEC Staff Frequently Asked Questions.

Phillip V. George

PHILLIP V. GEORGE, PLLC

Celeste, Texas

January 23, 2023

10

5179 CR 1026 Celeste, TX 75423 (214) 358-5150 Fax (214) 358-0222 phil@pvgeorge.com

# Paramax Securities, LLC

333 International Drive, Suite A / Williamsville, NY 14221

716-626-1200

## Exemption Report

Paramax Securities, LLC (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 states 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 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 receiving transaction-based compensation for identifying potential merger and acquisition opportunities for clients, 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 without exception.

Paramax Securities, LLC.

I, Michael Schaps, swear (or affirm) that, to my best knowledge and belief, this Exemption Report is true and correct.

Michael Schaps

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

## FORM X-17A-5

### ANNUAL AUDITED REPORT

### Filer Information

**Filer CIK:** 0001435414

**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:** PARAMAX SECURITIES, LLC

**Business Address:** 333 INTERNATIONAL DRIVE, SUITE A, WILLIAMSVILLE, NY, 14221

**Contact Person:** Russell D'Alba

**Contact Phone:** 716-626-1200

### Independent Public Accountant Identification

**Accountant Name:** Phillip V. George, PLLC

**Accountant Address:** 5179 CR 1026, Celeste, TX, 75423

**Accountant Type:** Certified Public Accountant

### OATH OR AFFIRMATION

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

**Signature:** Michael Schaps

**Title:** Chief Financial Officer

**Notarized:** Yes