UNITED STATES OMBAPPROVAL SECURITIESANDEXCHANGECOMMIS OMB Number 32354)123 Washington, D.C. 20549 ires: March 31, 2016 RECDVEC' ed average burden ANNUAL AUDITED R RT "esponse......12.oo FORM X-17A- t 5 SEC FILE NUMBER PART lil ' . 201 FACING PAGE Information Required of Brokers and Dealers Pursuant tion 17 of the Securities Exchange Act of 1934 and Rule 17a-5 Thereunder REPORT FOR THE PERIOD BEGINNING AND ENDING ÚÎ/3/ Ó MM/DDIYY MM/DDIYY A.REGISTRANT IDENTIFICATION NAME OF BROKER-DEALER: 5 ÚÊÊ S$$$f E OFFICIAL USE ONLY ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O.Box No.) FIRM I.D. NO.
Transcript
UNITED STATES OMBAPPROVAL
SECURITIESANDEXCHANGECOMMIS OMB Number 32354)123
Washington, D.C.20549 ires: March 31, 2016RECDVEC' ed average burden
ANNUAL AUDITED R RT "esponse......12.oo
FORM X-17A- t 5 SEC FILE NUMBERPART lil '
. 201FACING PAGE
Information Required of Brokers and Dealers Pursuant tion 17 of theSecurities Exchange Act of 1934 and Rule 17a-5 Thereunder
REPORT FOR THE PERIOD BEGINNING AND ENDING ÚÎ/3/ ÓMM/DDIYY MM/DDIYY
A.REGISTRANT IDENTIFICATION
NAME OF BROKER-DEALER: 5 ÚÊÊS$$$f E OFFICIAL USE ONLY
ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O.Box No.) FIRM I.D. NO.
gr, gayr #-/ss
(No. and Street)
///K Vez.ey C# frf?/(City) (State) (Zip Code)
NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS REPORT
INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report*
Richardson, Edward Jr.(Name - ifindividual, state last, first, middle name)
15565 Northland Drive, Suite 508 Southfield MI 48075(Address) (City) (State) (Zip Code)
CHECK ONE:
E Certified Public Accountant
0 Public Accountant
0 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 offacts and circumstances relied on as the basis for the exemption. See Section 240.17a-5(e)(2)
Potential persons who are to respond to the collection ofinformation contained in this form are not required to respond
SEC 1410 (06-02) unless the form displays acurrently valid OMB control number.
OATH OR AFFIRMATION
I, 7//044$ , swear (or affirm) that, to the best of
my knowledge and belief the accompanying financial statement and supporting schedules pertaining to the firm of
of /fffg€{f 37 , 20_/C , 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:
Title
Notary Public
This report ** contains (check all applicable boxes):(a) Facing Page.
LH_jb) Statement of Financial Condition.[K (c) Statement of Income (Loss).
(d) Statement of Changes in Financial Condition.(e) Statement of Changes in Stockholders' Equity or Partners' or Sole Proprietors' Capital.(f) Statement of Changes in Liabilities Subordinated to Claims of Creditors.(g) Computation of Net Capital.
ÜÏ (h) Computation for Determination of Reserve Requirements Pursuant to Rule 15c3-3.
_ fi) Information Relating to the Possession or Control Requirements Under Rule 15c3-3.[F (i) A Reconciliation, including appropriate explanation ofthe Computation of Net Capital Under Rule 15c3-1 and the
Computation for Determination of the Reserve Requirements Under Exhibit A of Rule 15c3-3.
0 (k) A Reconciliation between the audited and unaudited Statements of Financial Condition with respect to methods ofconsolidation.
(1) An Oath or Affirmation.(m) A copy of the SIPC Supplemental Report.
O (n) A report describing any material inadequacies found to exist or found to have existed since the date ofthe previous audit.
**For conditions of confidential treatment of certain portions of this filing, see section 240.17a-5(e)(3).
CALIFORNIA JURAT WITH AFFIANT STATEMENT GOVERNMENT CODE § 8202
ee Attached Document (Notary to cross out lines 1-6 below)See Statement Below (Lines 1-6 to be completed only by document signer[s], not Notary)
1
4
Signature of Document Signer No. 1 Signature of Document Signer No. 2 (if any)
A notary public or other officer completing this certificateverifies only the identity of the individual who signed thedocumentto which this certificateis attached, and not the truthfulness, accuracy,orvalidity of that document.
State of Californi Subscribed and sworn to (or affirmed) before me
County of GM'on this day of , 20 ,
by Date th Year
(and (2) Name(s) of Signer(s) h
ŠanFranciscoCounty - proved to me on the ba ' satisfactory evidenceM Comm.ExfresJul10.2016 to be the person ho appeared before me.
Signatur
Signature of ota Public
SealPlace Notaty Seal Above
OPTIONAL
Though this section is optional, completing this information can deter alteration of the document orfraudulent reattachment of this form to an unintended document.
Description of Attached Document
Title or Type of Document: 4414 & M y'/4&f7e cument Date:
Number of Pages: É Signer(s) Other Than Named Above: L &
I haveandited the secompanyinAstatementof founcialcondition of Sooner Síght 1AC as of March 31,2015 and the related shaements of income, chnages in stockholdets eqty, changes in liabilities to
claims of generalcreditors and cash flows for the year ended.These fasacial statements are themponsibilky of Sooner Sight, llC management.My responsibDhy is to expressan opizon erathemfinancialstatemens based onmy andit.
AudheagemmesR@y
I conducted dá audh in accordancewith the standardsof the Public Company Accenting OversightBoard (United States). Those staidanis require that I pleaand perform the audit to obtain reasonabkassmanceabout whether the Snandal statementsare freeof maarial misstatement.An audit includesexamining, en a test basis,evidencesuppostingtbc amounts and disclosures in the financial statementsAn audit also includes assessing the acconting principles used and signißcant estimates made tremanagemers,as well asevaluating the overeli ßnancial statementpresentadott I believe that my auditprovides a reasonable basisfet my opinion.
E ptal#w
In my opinion, the fmancial statements referred to above present fy,in30 matuial respects, the
floancial position of SoonerSight, ILC asof March 3L 2015,andrestdtsof its operations and ks cadiflows to the year then endeda conformity with accounting pciplesgenerally accepted in the UnitalStates,
OskgeMating
The supplemental information hasbeen subjected to audit pacedures performed with audit of Sooner
sight, LLC finandal statements.Supplemental1afonnation is the responsibility of Seoner Sight, LLCmanagement. My audit procedures inekded determining whether the Supplemental informationreconcitesto the financial statements or the undedying accounting and other records as applicable, and
perfomiing procedures to test the completeness and accuracy of the information paesentedin th:Supplemental leformation , In forming my opinion na the Suppemental hformation, I evalutetwhether the Supplementalhformatiom inchuling its form and ecment is presented in conformity witi
the standardsof the Public Company Accourging Ovenight Board (Utited States. In my opinion, the
Suppkmental hfortnation is fairly stated,in all meterialteapects,in rdation to the fmancial statements
m awhole.
EdwardRichardsonJr CPASouth5ekkML 48075May42015
Sooner Sight, LLCFinancial Statements
Statement of Financial ConditionAs of and for the Year-Ended March 31,2015
Sooner Sight, LLCBalance SheetAs of Marcit 31,2015
Otter Expense7500 - State incarne Tar Expense 800.00
Total001er Expense 800.00
flet Ottar tacome -797.29
Net income 2,42171
The accompanying notes are an integral part of these financial statements.
Sooner Sight, LLCFinancial Statements
Statement of Partners' EquityAs of and for the Year-Ended March 31, 2015
12Non#mEndedMarch31,20t$
0eginningofPedad $ 6398927
Phe:Natfaceae $ 2423Ji
���t_Ø_$0.00
Men*ewaquayendettedad 9,392.98
The accompanying notes are an integral part of these financial statements.
Sooner Sight, LLCFinancial Staternents
Statement of Changes in Subordinated LiabilitiesAs of and for the Year-Ended March 31, 2015
BalanceofSuchQaimsatApd1.20% $ Oum
AddlBons $ GW
Reductions $ 0.W
BalanceofSuchQalmsatManh302015 $ 0,W
The accompanying notes are an integral part of these financial statements.
Sooner Sight, LLCNotes to Financial Statements
As of and for the Year-Ended March 31, 2015
NOTE A-SUMMARY OF ACCOUNTING POLICIES
Accounting principles followed by the Company and the methods of applying those principleswhich materially affect the determination of financial position, results of operation and cashflows are summarized below:
Organization
Sooner Sight, LLC (the Company) was organized in the State of California effective February 16,2008 as a limited liability company under the California Limited Company Act. The Company has
adopted a fiscal year ending March 31.
Description of Business
The Company, located in Mill Valley, CA is a broker and dealer in securities registered with the
Securities and Exchanges Commission ("SEC")and is a member of FINRA.The Company
operates under SECRule 15c3-3(k)(2)(i), which provides a "Special Account for the ExclusiveBenefit of Customers" is maintained. The Company provides advisory assistance with mergers
and acquisitions and strategic funding via private placement services.
Basis of Accounting
The financial statements of the Company have been prepared on the accrual basis of
accounting and accordingly reflect all significant receivables, payables, and other liabilities.
Cash and Cash Equivalents
The Company considers as cash all short-term investments with an original maturity of threemonths or less to be cash equivalents.
Revenue Recognition
Commission revenues are recorded when the services are rendered.
Income taxes
Effective February 16, 2008, the Company elected to be treated as a partnership for federal
income tax purposes. Under partnership regulations, net income or loss is reportable for tax
purposes by the shareholders. Accordingly, no federal income taxes are included in the
accompanying financial statements.
Sooner Sight, LLCNotes to Financial Statements
As of and for the Year-Ended March 31, 2015
Estimates
The preparation of financial statements in conformity with accounting principles generallyaccepted in the United States of America requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and disclosure ofcontingentassets 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 thoseestimates.
Fair Value of Financial Instruments
Financial instruments that are subject to fair value disclosure requirements are carried in thefinancial statements at amount that approximate fair value and include cash and cash
equivalents. Fair values are based on quoted market prices and assumptions concerning the
amount and timing of estimated future cash flows and assumed discount rates reflectingvarying degrees of perceived risk.
Comprehensive Income
Statement of Financial Accounting Standards (SFAS) No.130, Reporting Comprehensive income,
establishes requirements for disclosure of Comprehensive income that includes certain items
previously not included in the statement of income, including unrealized gains and losses onavailable-for-sales securities and foreign currency translation adjustment among others. During
the year ended March 31, 2015, the Company did not have any components of ComprehensiveIncome to report.
NOTE B - NET CAPITAL REQUIREMENTS
Pursuant to the net capital provisions of Rule 15c3-3 of the Securities and Exchange Act of
1934, the Company is required to maintain a minimum net capital, as defined under suchprovisions. Net capital and the related net capital ratio may fluctuate on a daily basis.Therewere no material inadequacies found to exist or found to have existed since the date of the
previous audit.
Statement of Exemption of Reserve Requirement
The Company is subject to the Uniform Net Capital Rule 15c3-1, which requires the
maintenance of minimum Net Capital. The Company has elected to use the basic computationmethod, as is permitted by the rule, which requires the Company maintains minimum Net
Sooner Sight, LLCNotes to Financial Statements
As of and for the Year-Ended March 31, 2015
Capital pursuant to fixed dollar amount or 6-2/3% percent of total aggregate indebtedness, asdefined, whichever is greater, and does not therefore calculate it's net capital requirementunder the alternative reserve requirement method.
NOTE C-POSSESSION OR CONTROL REQUIREMENTS
The Company does not have any possession or control of customer's funds or securities. Therewere no material inadequacies in the procedures followed in adhering to the exemptive
provisions of SECRule 15c-3-3(k)(2)(i) - limited business.
NOTE D - COMMITMENTS AND CONTINGENCIES
Sooner Sight, LLCdoes not have and never had any commitments, guarantees, or contingencies(arbitrations, lawsuits, claims, etc.) that may result in a loss or future obligation or that may be
asserted against the firm at a future date.
NOTE E - SIPCRECONCILIATION
SEARule 17a-5(e)(4) requires a registered broker-dealer to file a supplemental report which
includes procedures related to the broker-dealers SIPC annual general assessmentreconciliation or exclusion-from-membership forms. In circumstances where the broker-dealer
reports $500,000 or less in gross revenues, they are not required to file the supplemental SIPC
report. The Company is exempt from filing the supplemental report under SEA Rule 17a-5(e)(4)because it is reporting less than $500,000 in gross revenue.
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Sooner Sight, LLC
Supplementary Schedules Pursuant to SEARule 17a-5
Of the Securities and Exchange Act of 1934As of and for the Year-Ended March 31, 2015
Statement Related to Uniform Net Capital Rule
The company is a member of the FINRA and is subject to the SEC Uniform Net Capital Rule 15c3-1. This
rule requires the maintenance of minimum net capital and requires that the ratio of aggregateindebtedness to net capital, both as defined, shall not exceed 1500% (15 to 1), or, during its first year ofoperations, 800% (8:1). Net capital and the related net capital ratio may fluctuate on a daily basis. AtMarch 31, 2015 the Company had net capital of $9,393 which was $4,393 in excess of its required net
capital of $5,000. The Company's net capital ratio was 3.19% The company has elected to use the basiccomputation method, as is permitted by the rule, which requires that the Company maintain minimumNet Capital pursuant to a fixed dollar amount or 6-2/3% percent of total aggregate indebtedness, asdefined, whichever is greater, and does not, therefore, calculate its net capital requirement under the
alternative reserve requirement method.
Statement Related to Exemptive Provision (Possession and Control)
The Company does not have possession or control of customer's funds or securities. There were nomaterial inadequacies in the procedures followed in adhering to the exemptive provisions of SEA Rule
(15c3-3(k)(2)(ii)]; All customer transactions cleared through another broker-dealer on a fully disclosedbasis.
Statement Related to Material inadequacies
This audit did not disclose any material inadequacies since the previous audit of the financial statements
contained within the audit report of the Computation of Minimum Net Capital Requirement as reported
in the Supplemental Schedules contained within the audit report or the filed Financial and OperationalCombined Uniform Single Report filed pursuant to SEA Rule 15c3-1. The firm is exempt from 15c3-3; itdoes not maintain customer funds or securities and therefore does not maintain customer funds to
segregate nor does it maintain separate accounts for customers.
Statement Related to SIPC Reconciliation
SEA Rule 17a-5(e)(4) requires a registered broker-dealer to file a supplemental report which includes
procedures related to the broker-dealers SIPCannual general assessment reconciliation or exclusionfrom membership forms. In circumstances where the broker-dealer reports $500,000 or less in gross
revenue they are not required to file the supplemental SIPCreport. The Company is exempt from filingthe supplemental report under SEA Rule 17a-5(e)(4) because it is reporting less than $500,000 in grossrevenue.
Sooner Sight, LLCSupplementary Schedules Pursuant to SEARule 17a-5
Of the Securities and Exchange Act of 1934As of and for the Year-Ended March 31, 2015
Exemption Report Pursuant to SEA Rule 17a-5(d)(1)(i)(B)(2)
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Sooner Sight, LLC
Supplementary Schedules Pursuant to SEA Rule 17a-5Of the Securities and Exchange Act of 1934
As of and for the Year-Ended March 31, 2015
Auditors Reviewof Exemption Report Pursuant to SEA Rule 17a-5(d)(1)(i)(B)121
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Based on my reviewsI'm uneaware of any material om&edo &at should a madeaannagemenesa refened to shovefar thenia be fakly staleil,in eBanstesid respects,based en as wavisions seran& in swasoph &X2Kr) erante ucs-3 under meseenrasesEntfungeActor1934
EdwardRahardson,Jr,CRA
Seeaceavenersaudiesepeat
Sooner Sight, LLC100Shoreline Highway, Suite B-155
Mill Valley, CA 94941
May 22, 2015
Edward Richardson, Jr. CPA15565 Northland DriveSuite 508 West
Southfield, MI 48075
RE: Exemption Statement Rule 15c3-3 (k) (2) (i) for FYE March 31, 2015
Dear Mr. Richardson Jr.,
Please be advised that Sooner Sight, LLC has complied with Exemption Rule 15c3-3 (k) (2) (ii), for the periodof April 1, 2014 through March 31, 2015. Sooner Sight, LLC did not hold customer securities or funds at anytime during this period and does business on a limited basis (publicly registered non-trades REITS, and oil &gas partnerships). Sooner Sight, LLC's past business has been of similar nature and has complied to thisexemption since its inception, (date)..
Thomas Mike, the CEO of Sooner Sight, LLC has made available to Edward Richardson all records andinformation including all communications from regulatory agencies received through the date of this reviewMarch 31, 2015.
Mark Toole, the Chief Compliance Officer of Sooner Sight, LLC. has been responsible for compliance with the
exemption provision throughout the fiscal year. Also, there were not any known events or other factors thatmight have affected Sooner Sight, LLC 's compliance with this exemption.
If you would like additional information or have any questions, feel free to call me directly at (415) 331-0350,
