# EMPIRE INVESTMENT INC. X-17A-5 (2026-03-23) — Broker-dealer annual report - Company: EMPIRE INVESTMENT INC. - Form: X-17A-5 - Filed: 2026-03-23 - Period: 2025-12-31 - Accession: 0000763920-26-000002 - CIK: 763920 - File #: 8-33594 - Type: Broker-dealer - Material weakness: No - Auditor: NTT & Company, PLLC - Auditor location: Beaumont, TX - Contact: Leon Wu - Phone: 7184452313 - Email: leonwu@empiretrade.com - Website: empiretrade.com - Signed by: Leon Wu (President) Original filing: https://www.sec.gov/Archives/edgar/data/763920/000076392026000002/2025_Public_Report.pdf --- {0}------------------------------------------------ The following report is for the public upload. To prepare for EDGAR upload, the PDF should be "flattened". Please review the Internet for how to flatten a PDF document for upload to EDGAR and/or review the information in the Filing Instructions sent via email for Troubleshooting EDGAR uploads. {1}------------------------------------------------ ## UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 sec file number 8-33594 ## ANNUAL REPORTS FORM X-17A-5 PART III 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 01/01/25 | | AND ENDING 12/31/25 | | | |------------------------------------------|----------|---------------------|----------|--| | | MM/DD/YY | | MM/DD/YY | | ## A. REGISTRANT IDENTIFICATION # NAME OF FIRM: Empire Investment, Inc. TYPE OF REGISTRANT (check all applicable boxes): ■ Broker-dealer □ Check here if respondent is also an OTC derivatives dealer □ Major security-based swap participant ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) ## 136-20 38TH Ave., Suite 9E | | (No. and Street) | | | |------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------|-----------------|------------------------| | Flushing | NY | | 11354 | | (City) | (State) | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | Leon-Sun Wu | (718) 445-2313 | | leonwu@empiretrade.com | | (Name) | (Area Code - Telephone Number) | (Email Address) | | | | B. ACCOUNTANT IDENTIFICATION | | | | NTT & Company, PLLC | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | | | (Name - if individual, state last, first, and middle name) | | | | 5865 Mistloe Avenue | Beaumont | TX | 77707 | | (Address) | (City) | (State) | (Zip Code) | | 03/19/2019 | | 6543 | | | (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 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. {2}------------------------------------------------ ## OATH OR AFFIRMATION | Leon-Sun Wu | | | | swear (or affirm) that, to the best of my knowledge and belief, the | | | | | |-------------|--|---|--------------------------------------------------------------------|---------------------------------------------------------------------|--|--|--|-------| | | | | financial report pertaining to the firm of Empire Investment, Inc. | | | | | as of | | 40104 | | . | | | | | | | 12/31 , 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: President Notary Public ## This filing\*\* contains (check all applicable boxes): - = (a) Statement of financial condition. - (b) Notes to eonsolidated 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. - ‍ - [ (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. - | (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 or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-2, 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. - - □ (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. - | - □ (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 acountant'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. - | 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 chis filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable. {3}------------------------------------------------ Financial Statement December 31, 2025 (With Independent Auditor's Report Thereon and Supplemental Reports) {4}------------------------------------------------ ## **December 31, 2025** ## **Table of Contents** | | PAGE | |----------------------------------|------| | INDEPENDENT AUDITOR'S REPORT | 2 | | STATEMENT OF FINANCIAL CONDITION | 3 | | NOTES TO FINANCIAL STATEMENTS | 7-10 | {5}------------------------------------------------ ## **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Director and Shareholder of Empire Investment, Inc.: ## **Opinion on Financial Statements** We have audited the accompanying statement of financial condition of Empire Investment, Inc. (the "Company") as of December 31, 2025, and the related notes (collectively referred to as "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Company as of December 31, 2025, in conformity with accounting principles generally accepted in the United States of America. ## **Basis for Opinion** These financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company'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 the Company 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 from 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 statement. 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 statement. We believe that the audit of the financial statement provides a reasonable basis for our opinion. Beaumont, Texas March 6, 2025 We have served as the auditor for Empire Investment, Inc. since 2020. NTT & Company, PLLC 5865 Mistletoe Avenue Beaumont, TX 77707 512.766.8131 NathanTuttle@NTTCoCPA.com {6}------------------------------------------------ #### STATEMENT OF FINANCIAL CONDITION #### As of December 31, 2025 #### ASSETS | ASSETS | | |-----------------------------------------------------------------------------------------------------------------|------------------------------------------------| | Cash in bank
Clearing deposit
Due from clearing broker
Securities owned, at market
Prepaid expenses | \$
1,162
100,000
37,844
4
1,787 | | Other asset
Fixed assets, net of depreciation | 318
102 | | TOTAL ASSETS | \$
141,217 | | LIABILITIES AND STOCKHOLDER'S EQUITY | | | Accounts payable and accrued expenses | \$
43,855 | | TOTAL LIABILITIES | 43,855 | | Commitments and contingent liabilities | | | Stockholder's equity
Common stock, no par value, 200 shares authorized, | | | 30 shares issued and outstanding | 164,388 | | Paid-in capital | 987,093 | | Accumulated deficit | (1,054,119) | | Total stockholder's equity | 97,362 | | TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY | \$
141,217 | The accompanying notes are an integral part of these financial statements. {7}------------------------------------------------ #### NOTES TO FINANCIAL STATEMENTS ## December 31, 2025 ## **NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS** #### Organization Empire Investment, Inc. (the "Company"), a New York S Corporation formed in 1984, is registered as a broker-dealer with the Securities and Exchange Commission and is a member of the Financial Industry Regulatory Authority. #### Nature of Business The Company earns commission income by introducing and forwarding as a broker, transactions and accounts of customers to another broker-dealer who carries such accounts on a fully disclosed basis. ## **NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** ## Cash and Cash Equivalents All short-term investments with an original maturity of three months or less are considered to be cash equivalents. #### Concentration of Credit Risk The Company is engaged in various trading and brokerage activities in which counterparties primarily include broker-dealers, banks, and other financial institutions. In the event counterparties do not fulfill their obligations, the Company may be exposed to risk. The risk of default depends on the creditworthiness of the counterparty or issuer of the instrument. It is the Company's policy to review, as necessary, the credit standing of each counterparty. #### Clearing Deposit The Company has a \$100,000 balance with the Company's clearing broker. This balance is considered restricted as the funds cannot be withdrawn without the prior approval of the company's clearing broker. #### Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at 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. #### New Accounting Pronouncements 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 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. Revenues from contracts with customers are comprised of commissions. Such fees are recognized at the point in time when the Company's performance under the terms of the contractual arrangement is completed, which is typically at the close of a transaction. The Company has determined that the adoption of ASC Topic 606 has had no impact on the Company. {8}------------------------------------------------ #### NOTES TO FINANCIAL STATEMENTS December 31, 2025 ## **NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued** #### Revenue Recognition The Company recognizes ASU 2014-09, Revenue from Contracts with Customers (codified in ASC 606). The Company recognizes revenue when services are transferred to clients. Revenue is recognized based on the amount of consideration that management expects to receive in exchange for these services in accordance with the terms of the contract with the client. To determine the amount and timing of revenue recognition, the Company must (1) identify the contract with the client, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when the Company satisfies a performance obligation. Since its inception, the broker-dealer has not earned any revenue. Customer securities transactions are reported on a settlement date basis with related commission fee income and expenses also reported on a settlement date basis. There is no material difference from reporting on a trade date basis. ## Leases The Company currently has no leases. It pays \$3,000 per month rent to a related party for office space. ## **NOTE 3 – INCOME TAXES** The Company has elected "S Corporation" status with the Internal Revenue Service and state taxing authorities. The stockholder includes the "S Corporation" income or loss in his individual tax return, and accordingly, no federal or state income taxes or benefits are provided for in the financial statements during the period of "S Corporation" status. ## **NOTE 4 – NET CAPITAL REQUIREMENTS** The Company is subject to the Securities and Exchange Commission 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 and equity capital may not be withdrawn or cash dividends paid if the resulting net capital ratio would exceed 10 to 1. At December 31, 2025, the Company had net capital of \$95,150, which was \$90,150 in excess of its required net capital of \$5,000. The Company's ratio of aggregate indebtedness to net capital was 0.409 to 1. ## **NOTE 5 – OFF BALANCE SHEET RISK** Pursuant to a Clearing Agreement, the Company introduces all of its securities transactions to its sole clearing broker on a fully disclosed basis. Therefore, all of the customers' money balances and long and short security positions are carried on the books of the clearing broker. Under certain conditions as defined in the clearance 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. In accordance with industry practice and regulatory requirements, the Company and the clearing broker monitor collateral on the securities transactions introduced by the Company. ## **NOTE 6 – RELATED PARTY TRANSACTIONS** The Company pays rent for office space to a related party, the Company's President Leon Wu, on a month to month basis. Rental payments are \$3,000 per month with no escalation contemplated at this time. During 2025 the Company was billed \$36,000 in rent, which is included in the occupancy expense in the statement of comprehensive income. {9}------------------------------------------------ ## NOTES TO FINANCIAL STATEMENTS December 31, 2025 ## **NOTE 7 – FAIR VALUE INSTRUMENTS** Management calculates the fair value of financial instruments on the books by determining the quoted value of the securities based upon prices provided by the clearing firm as of the close of the last trading day in the year and multiplying this price by the number of shares that are owned on the last trading day of the year and are owned by the Company and reported on the Company's books as marketable securities. The following information should not be interpreted by the financial statement user as an estimate of the fair value of the entire Company since a fair value calculation is only provided for a limited portion of the Company's assets, liabilities and credits. Due to a wider range of valuation techniques, circumstances and the degree of subjectivity used in making estimates, comparisons between the Company's disclosures and those of other companies and entities may not bemeaningful. The following methods were used to estimate the fair values of the Company's financial instruments as of December 31, 2025. There has been no significant or any changes in the methodology for estimating fair value of the Company's financial instruments since December 31, 2025. ## **Fair Value Hierarchy** The Fair Value Measurements Topic of the FASB Accounting Standards Codification establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements to significant unobservable inputs (Level 3 measurements). The three levels of fair value hierarchy are asfollows: **Level 1** inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at themeasurement date. **Level 2** inputs are inputs quoted other than quoted prices within Level 1 that are observable for the asset or liability, either directly orindirectly. **Level 3** inputs are unobservable inputs for the asset or liability. #### **Determination of Fair Value** Under the Fair Value Measurements Topic of the FASB Accounting Standards Codification, the Company bases its fair value on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between informed market participants at the measurement date. It is the Company's policy to maximize the use of observable inputs and minimize the use of unobservable inputs in developing fair value measurements, in accordance with the fair value hierarchy. Fair Value measurements for assets and liabilities where there exits limited or no observable market data where there exits limited or no observable market data, and, therefore, are based upon management's own estimates, are often calculated based on current pricing policy, the economic and competitive environment, the characteristics of the asset or liability or other such factors. Therefore, results cannot be determined with precision and may not be realized in an actual sale or immediate settlement of the asset or liability. Additionally, there may be inherent weaknesses in any calculation technique, and changes in the underlying assumptions used, including discount rates and estimates of future cash flows, that could significantly affect the results of current or future values. #### **Cash and Cash Equivalents** The carrying amount of cash and cash equivalents approximate their fair value because of the short maturity of these instruments. Cash includes US Currency in a Chase bank account. {10}------------------------------------------------ #### NOTES TO FINANCIAL STATEMENTS December 31, 2025 #### **NOTE 7 – FAIR VALUE INSTRUMENTS – continued** #### **Investments in Equity Securities** Investments in equity securities are recorded at fair value on a recurring basis. When quoted market values are unobservable, management uses quotes from independent pricing vendors based on independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security's rating and other credit loss assumptions. The pricing vendors may provide the Company with valuations that are based on unobservable inputs, and in those circumstances the Company would classify the fair value measurements of the investment securities as Level 3. Based on the review performed, management believes that the valuations used in its financial statements are reasonable are appropriately classified in the fair value hierarchy. | Name of Security | Level 1 | Level 2 | Level 3 | Total | |------------------|---------|---------|---------|-------| | Securities owned | - | - | 4 | 4 | | Totals | - | - | 4 | 4 | Fair values for short-term investments and long-term investments are determined by reference to quoted market prices and other relevant information generated by market transactions. The carrying amounts reflected on the balance sheet are the cash cost prices paid for the asset. The carried and market values are reflected below. | asset. The carried and market values are reflected below. | | | | |-----------------------------------------------------------|------------------|-----------------|--------------------| | December 31, 2025 | Carried
Value | Market
Value | Unrealized
Gain | | Other | 4 | 4 | - | | Totals | 4 | 4 | - | The fair value of the securities noted have been measured on a recurring basis using Level 3 inputs, which were based on unadjusted quoted market prices provided by the clearing firm. There have been no changes in valuation techniques. #### **NOTE 8 – SEGMENT REPORTING** The Company manages its business within a single operating segment in accordance with ASC Topic 280 Segment Reporting ("ASC 280"). Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker (CODM), which is our Chief Executive Officer in deciding how to allocate resources and in assessing performance. Segment information is consistent with how management reviews the business, makes investing and resource allocation decisions and assesses operating performance. The CODM uses this information, which may be adjusted for items that are non-recurring, as well as regularly provided budgeted or forecasted expense information for the single operating segment, in managing the business. #### **NOTE 9 – SUBSEQUENT EVENTS** The Company has evaluated events and transactions occurring subsequent to the statement of financial condition date of December 31, 2025 for items that should potentially be recognized or disclosed in those financial statements. The evaluation was conducted through February 28, 2026, the date the financial statements were available to be issued. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.