# AMERICAN GLOBAL WEALTH MANAGEMENT, INC. X-17A-5 (2026-05-27) — Broker-dealer annual report - Company: AMERICAN GLOBAL WEALTH MANAGEMENT, INC. - Form: X-17A-5 - Filed: 2026-05-27 - Period: 2025-09-30 - Accession: 0000217550-26-000007 - CIK: 217550 - File #: 8-21584 - Type: Broker-dealer - Material weakness: No - Auditor: Ohab and Company, PA - Auditor location: Maitland, FL - Contact: Philip Ciantro - Phone: 6462269300 - Signed by: James Webb (Chief Executive Officer) Original filing: https://www.sec.gov/Archives/edgar/data/217550/000021755026000007/agwm25public.pdf --- {0}------------------------------------------------ **3("1].11.] .3,"1".](]5!( ])''"..")(] 47UBEM@XOM] ] ]** 1'%7895@%/ 1'2}eFNp! \*mZqNw"2k \*wzZeDzNLDNrDTNF}qLNh Vk}qwmNrqNwmkhwN# #### **- --** | ;*(…,.0*…2?1'*9 | |-----------------| |
| **"( ]\* ]** **#N>PSL7WFPN]-=RZGS=<]+ZTVZ7NW]WP]-ZJ=V] 7/] 7 ]7N<] 7]ZN<=T]WC=]0=:ZSFWF=V][:C7N@=]:W]P>] ]** "&R')R+R()'R&&&R R R -- -- **], ".1,(1]"(1""1")(]** &%RBR)%R )"-% \*4'+'4"'0\$4\*#")"\*04\* 4 ,1(R'R)\*,)&+R4:64>R2??R2DE@;423?6R3CP6J-R C HC>6F562@6GR \*64NH4 | | )\{" | <{D{O | A]n…)lMO | | ()*'&R+'R'&,-R0,R))R-'R-*R "&R | | | | \$&'%,4%*0.+4 |

4 | nX]d\nK]Eh qk\$EgUalIPnEviPqyKlf | | 4DgO | &uOD…)lMO
>ObOnWliO…3~gGOs | +gD]b…&MMsOxx | | |
])3(1(1]"(1""1")(] | | | | &(&&,R(/#R'/&,&,RO:CJ6RG6DCHKJR2F6R4CAL2;A65R4 | &0(*!4 | 4 | 4 | |---------------------------------------------------------------------------------------------------------------------------|---------------------|-------|----------| | &MMsOxx | )\{" | <{D{O | B]n…)lMO | |
4 | |
4 | | | 5\$M!LBD56MI,E)M
/ &M::@0!
M | M!(F 78M2!M%&M::0!M | | | | | ),])""&]3.])(&6] | | M | |
…)bD\gx…Qlu…OƒOgn{]li…Qulg…{YO…uOo~]sOgOj{…{YD{…{YO…Dii~Db…sOnls{x…GO…JlOuOM…G"…{WO…sOnlu{x…lR…Dj…]jMOnOjMOi{…n~Gb]J | | | | )bD\gxQluOOgn{]liQulg{YOuOo~]sOgOj{{YD{{YODii~DbsOnls{xGOJlOuOMG{WOsOnlu{xlRDj]jMOnOjMOi{n~Gb]J DJJl~i{Di{gx{GOx~nnlu{OMGDx{D{OgOj{lRSDJ{xDiMJ]sJ~gx{DiJOxuOb^OMliDx{WOGDx]xlQ{WOOOgn{]li "MC9M="A;94 MC9MC\*"M9-1"C+94M9#M+4'9=3C+94M94C+4" M+4MC\*+AM#9=3M="M49CM=""A;94 MG4-"AAMC\*"M'9=3M +A;-KAMMG=="4C.KMH.+ M M94C?9-M4G3"= M** {1}------------------------------------------------ ## OATH OR AFFIRMATION | James Webb
1. | |------------------| |------------------| | עולם לינוע | | swear (or affirm) that, to the best of my knowledge and belief, the | | |------------|--|--------------------------------------------------------------------------------------------|--| | | | tinancial report pertaining to the firm of American Global Wealth Management Inc.
as or | | | 9/30 | | 2 025 _ 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. Signature: Title Chief Executive Officer 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. - O (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. - ‍ | - □ (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. - [ (I) 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 on 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-12, 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 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 240.17a-12, as applicable. - [] (y) Report describing any material inadequacies 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 240.170-5(e/(2), as applicable. {2}------------------------------------------------ # **American Global Wealth Management, Inc.** **Statement of Financial Position** **For the Year Ended September 30, 2025** **With** **Report of Independent Registered Public Accounting Firm** {3}------------------------------------------------ ## **Contents** As of and for Year Ended September 30, 2025 Report of Independent Registered Public Accounting Firm ## **Financial Statements** Statement of Financial Condition Statement of Operations Notes to Financial Statements {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) 100 E. Sybelia Ave. Suite 130 Maitland. FL 32751 Certified Public Accountants Email: pamía ohabco com Telephone 407-740-7311 Fax 407-740-6441 # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Stockholder's of American Global Wealth Management, Inc. ## Opinion on the Financial Statement We have audited the accompanying statement of financial condition of American Global Wealth Management, Inc. as of September 30, 2025, and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material position of American Global Wealth Management, Inc. as of September 30, 2025 in conformity with accounting principles generally accepted in the United States of America. # Basis for Opinion This financial statement is the responsibility of American Global Wealth Management, Inc.'s management. Our responsibility is to express an opinion on American Global Wealth Management, Inc.'s financial statement 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 American Global Wealth Management, Inc. 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 statement is 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 statement, 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. Ohal and We have served as American Global Wealth Management, Inc.'s auditor since 2024, Maitland, Florida January 13, 2026 {5}------------------------------------------------ Statement of Financial Condition September 30, 2025 # ASSETS | Cash & cash equivalents | 49
348,766 | | |-----------------------------------|---------------|-----| | Clearing deposit | 53.748 | | | Commission receivable | 70.774 | | | Due from clearing broker | 59.723 | | | Due from stockholder | 49.059 | | | Prepaid expenses and other assets | | 675 | | | | | | | | | TOTAL ASSETS ક 582,745 ## LIABILITIES AND STOCKHOLDER'S EQUITY | LIABILITIES | | | |--------------------------------------------|----|---------| | Accounts payable and accrued expenses | S | 8,824 | | Income Tax Payable | | 39,436 | | Commission payable | | 45,246 | | Due to stockholder | | 113,160 | | Subordinated debt | | 175,000 | | TOTAL LIABILITIES | | 381,666 | | STOCKHOLDER'S EQUITY | | | | Capital stock | | 5,000 | | Additional paid in capital | | 95,552 | | Retained earnings (deficit) | | 100,527 | | TOTAL STOCKHOLDER'S EQUITY | | 201,079 | | TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY | \$ | 582,745 | {6}------------------------------------------------ Notes to Financial Statements September 30, 2025 ## **1. Organization and Nature of Business** American Global Wealth Management, Inc. (the "Company") is a registered broker dealer organized under the laws of the state of Wisconsin in 1977. The Company is a member with the Securities and Exchange Commission, the Financial Industry Regulatory Authority and the securities commissions of appropriate states. The Company's primary business is brokerage of investment securities. ## **2. Summary of Significant Accounting Policies** ## **Basis of Accounting** The accompanying financial statements are prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. ## **Cash & Cash Equivalents** For purposes of reporting the statement of cash flows, the Company considers all cash accounts, which are not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. Cash balances in excess of FDIC and similar insurance coverage are subject to the usual banking risks associated with funds in excess of those limits. At September 30, 2025, the Company had an uninsured cash balance of approximately \$98,766. #### **Revenue Recognition** Revenue from contracts with customers includes commission and concession income and referral fee revenue. The recognition and measurement of revenue is based on the assessment of individual contract terms. Significant judgement 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; whether revenue should be presented gross or net of certain costs; and whether constraints on variable consideration should be applied due to uncertain future events. The Company buys and sells securities on behalf of its customers. Each time a customer enters into a buy or sell transaction, the Company charges a commission. Commissions and related clearing expenses are recorded on the trade date (the date that the Company fills the trade order by finding and contracting with a counterparty and confirms the trade with the customer). The Company believes that the performance obligation is satisfied on the trade date because that is when the underlying financial instrument or purchaser is identified, the pricing is agreed upon and the risks and rewards of ownership of the securities have been transferred to/from the customer. Mutual Funds or pooled investment vehicles (collectively, "funds") have entered into agreements with the Company to distribute/sell its shares to investors. The Company may receive distribution fees paid by the funds upfront, over time, upon the investor's exit from the fund (that is, a contingent deferred sales charge), or as a combination thereof. The Company believes its performance obligation is the sale of securities to investors and as such this is fulfilled on the trade date. Any fixed amounts are recognized on the trade date and variable amounts are recognized to the extent it is probable that a significant revenue reversal will not occur once the uncertainty is resolved. For variable amounts, as the uncertainty is dependent on the value of the shares at future points in time as well as the length of time the investor remains in the fund, both of which are highly susceptible to factors outside the Company's influence, the Company does not believe that it can overcome this constraint until the market value of the fund and the investor activities are known, which are usually quarterly or monthly. Fixed annuities are recognized as revenue when the policy holder is approved by the insurance company. The Company provides advisory services, consulting on mergers and acquisitions. Revenue for advisory arrangements is generally recognized at the point in time when performance under the arrangement is completed, the closing of the transaction or the contract is cancelled. However, for certain contracts, revenue is recognized over time for advisory arrangements in which the performance obligations are simultaneously provided by the Company and consumed by the customer. In some circumstances, significant judgment is needed to determine the timing and measure of progress appropriate for revenue recognition under a specific contract. Multiple performance obligations are identified, when to recognize revenue based on the appropriate measure of the Company's progress under the contract, whether revenue should be presented gross or net of certain costs, and whether constraints on variable consideration should be applied due to uncertain future events. Retainers and other fees received from customers prior to recognizing revenue are reflected as contract liabilities. For the year ended September 31, 2025, only retainers were received by the Company, all of which were recognized in the current year. ## **Other Income** Service management fees are reimbursements from registered representatives for registration fees paid on their behalf. {7}------------------------------------------------ ## **American Global Wealth Management, Inc.** Notes to Financial Statements September 30, 2025 ## **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. ## **Broker Dealer Segment Reporting** The Company is engaged in a single line of business as a securities broker-dealer, which is comprised of several classes of services, including principal transactions, agency transactions, and investment advisory. The Company has identified its Chief Executive Officer as the chief operating decision maker ("CODM"), who uses net income to evaluate the results of the business, predominantly in the forecasting process, to manage the Company. Additionally, the CODM uses excess net capital, which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to reinvest profits or pay dividends. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the Company as a whole. The accounting policies used to measure the profit and loss of the segment are the same as those described in the summary of significant accounting policies. ## **Receivable from and Deposit with Clearing Broker** The Company has an agreement with a clearing broker to execute and clear, on a fully disclosed basis, customer accounts of the Company. In accordance with this agreement, the Company is required to maintain a deposit in cash or securities. The Company has a deposit with its clearing broker, which is refundable to the Company should it discontinue its arrangement. Amounts receivable from its clearing organization consist of commissions receivable and funds on deposit in various accounts. ## **Income Taxes** Income taxes are computed based on income for financial reporting purposes. Deferred income taxes are reported for timing differences between items of income or expense reported in the financial statements and those reported for income tax purposes. The Company is included in the consolidated tax return of its sole stockholder, American Global Wealth Services, Inc. The Company calculates the provision for income taxes by using a "separate return" method. Under this method, the Company is assumed to file a separate return with the tax authority, thereby reporting the Company's taxable income or loss and paying the applicable tax to or receiving the appropriate refund from American Global Wealth Services, Inc. The Company's current provision is the amount of tax payable or refundable on the basis of a hypothetical, current-year separate return. The Company provides deferred taxes on temporary differences and on any carryforwards that the Company could claim on the Company's hypothetical return and assesses the need for a valuation allowance on the basis of the projected separate return results. Under the provision of FASB Accounting Standards Codification 740-10, Accounting for Uncertainty in Income Taxes, the Company is required to evaluate each of its tax positions to determine if they are more likely than not to be sustained if the taxing authority examines the respective position. A tax position includes the entity's status and the decision not to file a tax return. At September 30, 2024, the Company did not have any unrecognized tax benefits or liabilities. ## **Commissions Receivable- Clearing and Mutual Fund Fees** The carrying amount of commissions receivable is reduced by a valuation allowance that reflects management's best estimate of the amounts that will not be collected. The Company regularly reviews its commissions receivable for any uncollectible amounts. The review for uncollectible amounts is based on an analysis of the Company's collection experience, customer creditworthiness, and current economic trends. Based on management's review, no allowance for credit losses is considered necessary. ## **Credit Losses** The Company follows ASC Topic 326, Financial Instruments – Credit Losses ("ASC 326"). ASC 326 impacts the impairment model for certain financial assets by requiring a current expected credit loss ("CECL") methodology to estimate expected credit losses over the entire life of the financial asset. Under the accounting update, the Company has the ability to determine that there are no expected credit losses in certain circumstances (e.g., based on the credit quality of the customer). ## **Date of Management's Review** Subsequent events were evaluated through the date the financial statements were available to be issued. There are no events that would requires adjustments to or disclosure in the Company's financial statement. {8}------------------------------------------------ Notes to Financial Statements September 30, 2025 ## **3. Indemnifications** In the normal course of its business, the Company indemnifies and guarantees certain service providers against specified potential losses in connection with their acting as an agent of, or providing services to, the Company. The maximum potential amount of future payments that the Company could be required to make under these indemnifications cannot be estimated. However, the Company believes that it is unlikely it will have to make material payments under these arrangements and has not recorded any contingent liability in the financial statements for these indemnifications. The Company provides representations and warranties to counterparties in connection with a variety of commercial transactions and occasionally indemnifies them against potential losses caused by the breach of those representations and warranties. These indemnifications generally are standard contractual terms and are entered into in the normal course of business. The maximum potential amount of future payments that the Company could be required to make under these indemnifications cannot be estimated. However, the Company believes that it is unlikely it will have to make material payments under these arrangements and has not recorded any contingent liability in the financial statements for these indemnifications. ## **4. Liabilities Subordinated to Claims of General Creditors** The Company has borrowings under agreements which are subordinate to claims of general creditors. The details of this debt are as follows: | Payable To | Due Date | Interest Rate | | |-------------------------------|------------------|---------------|-----------| | Stockholder | February 6, 2026 | 5% | 50,000 | | Stockholder | February 6, 2026 | 5% | 125,000 | | Balance at September 30, 2025 | | | \$175,000 | The subordinated borrowings are covered by agreements approved by FINRA and are thus available in computing net capital under the Securities and Exchange Commission's net capital rules. To the extent that such borrowings are required for the Company's continued compliance with minimum net capital requirements, they may not be repaid. The Stockholder waived the interest payments for the year ended September 30, 2024. #### **5. Contingencies and Concentrations of Credit Risk** Pursuant to a clearing agreement, the Company introduces securities transactions to its clearing broker on a fully disclosed basis. Therefore, all of the customer's money balances and long and short securities positions are carried on the books of the clearing broker. Under certain conditions, as defined in the clearing broker agreement, the Company has agreed to indemnify the clearing broker for losses, if any, which the clearing broker may sustain from carrying securities transactions introduced by the Company. The Company has not been notified or otherwise made aware of any contingency related to the indemnification of the clearing broker. In accordance with industry practice and regulatory requirements, the Company, and the clearing broker, monitor collateral on the securities transactions introduced by the Company. The Company is subject to arbitration and litigation in the normal course of business. The Company has no litigation in progress at September 30, 2025. ## **6. 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 15 to 1. At September 30, 2025, the Company had net capital of \$304,616 which was \$290,840 in excess of its required net capital of \$13,776. The Company's aggregate indebtedness to net capital percentage was 68%. {9}------------------------------------------------ Notes to Financial Statements September 30, 2025 ## **7. Income Taxes** The Company accounts for income taxes under ASC 740- income taxes. The components for the income taxes are as follows: | 30,559 | |--------| | 8,877 | | 39,436 | | | There are no deferred tax assets or liabilities or the year ended September 30,2025. #### **8. Leases and Related Parties** The Company leases office premises from its stockholder for monthly rent payments that were equal to a total of approximately \$35,400 under an administrative services agreement. The Company has elected for all underlying classes of assets to not recognize right-of-use assets and lease liabilities for short-term leases that have a lease term of 12 months or less at lease commencement and do not include an option to purchase the underlying assets that the Company is reasonably certain to exercise. The Company recognizes lease costs associated with short-term leases on a straight-line basis over the lease term. Separately, the Company's stockholder paid approximately \$298,300 of compensation costs and \$146,000 of other costs incurred by the Company for which the stockholder was partially reimbursed by the Company pursuant to the administrative services agreement. The due to stockholder at September 30, 2025 of \$113,160 arises from an underpayment under the administrative services agreement with this entity. The Company at times pays for operating expenses for the benefit of its stockholder for which reimbursement is subsequently requested. The due from stockholder at September 30, 2025 of \$49,059 arises from the Company's payment of such expenses that have yet to be reimbursed by its stockholder. The Company shares its errors and omissions insurance with other related entities pursuant to an informal arrangement. An affiliated Registered Investment Advisor pays all fees due under the policy for which it subsequent seeks reimbursement. The Company's allocated share of fees under this arrangement was equal to approximately \$42,300 for the year ended September 30, 2025. There are no amounts due under this informal arrangement at September 30, 2025. Financial position and results of operations could differ from the amounts in the accompanying financial statements if these related party transactions did not exist. #### **9. Prior Period Adjustment** The Company recognized a prior period adjustment for a tax asset that should have been recognized previously. {10}------------------------------------------------ **American Global Wealth Management, Inc.** Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.