# TEXAKOMA FINANCIAL, INC. X-17A-5 (2025-02-26) — Broker-dealer annual report - Company: TEXAKOMA FINANCIAL, INC. - Form: X-17A-5 - Filed: 2025-02-26 - Period: 2024-12-31 - Accession: 0000776024-25-000003 - CIK: 776024 - File #: 8-34706 - Type: Broker-dealer - Material weakness: No - Auditor: Dance, Bigelow & Co., PC - Auditor location: Flower Mound, TX - Contact: Ashlee Moore - Phone: 9722128057 - Email: wds@texakoma.com - Website: texakoma.com - Signed by: William Stapleton (President) Original filing: https://www.sec.gov/Archives/edgar/data/776024/000077602425000003/audit.pdf --- {0}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 > ANNUAL REPORTS FORM X-17A-5 PART I OMBAPPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 > SEC FILE NUMBER 8-34706 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 01/01/24 MM/DD/YY 12/31/24 MM/DD/YY AND ENDING NAME OF FIRM: A. REGISTRANT IDENTIFICATION ТЕХАКОMA FINANCIAL, INC. TYPE OF REGISTRANT (check all applicable boxes): Broker-dealer Security-based swap 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.) 5601 GRANITE PARKWAY, STE. 800, GRANITE PARK 3 (No. and Street) | P
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S | | 75024 | |----------------------------------------------------------------------------------|-------------------------------------------------------------------------------|-----------------|--------------------------------------------| | (City) | (State) | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | WILLIAM STAPLETON | 972-701-9106 | | wds@texakoma.com | | (Name) | (Area Code - Telephone Number) | (Email Address) | | | | В. АССOUNTANT IDENTIFICATION | | | | | | | | | DANCE, B
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3492 LONG PRAIRIE RD., STE 100 FLOWER MOUND | W & CO., P
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H 24, 2009 | | 3418 | | | (Date of Registration with PCAOB)(if applicable) | | | | | | FOR OFFICIAL USE ONLY | | (PCAOB Registration Number, if applicable) | 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. {1}------------------------------------------------ ![](_page_1_Picture_4.jpeg) | Signatura: | | |------------|--| | Title: | | | DDCOIT | | - - - - - - - - - - - - - - - - - - - - - - - - - - - {2}------------------------------------------------ TEXAKOMA FINANCIAL, INC. FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION REQUIRED BY RULE 17A-5 AS OF DECEMBER 31, 2024 AND 2023 {3}------------------------------------------------ ## REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Shareholder of Texakoma Financial, Inc. ## **Opinion on the Financial Statements** We have audited the accompanying statement of financial condition of Texakoma Financial, Inc. as of December 31, 2024 and 2023, the related statements of income, changes in shareholder equity, and cash flows for the years 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 Texakoma Financial, Inc. as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years 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 Texakoma Financial, Inc.'s management. Our responsibility is to express an opinion on Texakoma Financial, Inc.'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 Texakoma Financial, 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 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 Schedule I, Computation of Net Capital Under SEC Rule 15c3-1, Schedule II, Computation for Determination of Reserve Requirements Under SEC Rule 15c3-3 (exemption), and Schedule III, Information Relating to Possession or Control Requirements Under SEC Rule 15c3-3 (exemption) has been subjected to audit procedures performed in conjunction with the audit of Texakoma Financial, Inc.'s financial statements. The supplemental information is the responsibility of Texakoma Financial, Inc.'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 Schedule I, Computation of Net Capital Under SEC Rule 15c3-1, Schedule II, Computation for Determination of Reserve Requirements Under SEC Rule 15c3-3 (exemption), and Schedule III, Information Relating to Possession or Control Requirements Under SEC Rule 15c3-3 (exemption) is fairly stated, in all material respects, in relation to the financial statements as a whole. We have served as Texakoma Financial, Inc.'s auditor since 2000. Flower Mound, TX February 25, 2025 {4}------------------------------------------------ # **TEXAKOMA FINANCIAL, INC. STATEMENT OF FINANCIAL CONDITION FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023** ## ASSETS | | 2024 | 2023 | | |-------------------------------|-----------------|---------------|--| | ASSETS: | | | | | Cash | \$
781,088 | \$
724,418 | | | Accounts receivable-affiliate | 153,450 | 201,537 | | | Accounts receivable-other | 52,191 | 1,323 | | | Prepaid expense | 19,315 | 17,267 | | | Total current assets | 1,006,044 | 944,545 | | | Deferred tax asset | 10,864 | 11,577 | | | TOTAL ASSETS | \$
1,016,908 | \$
956,122 | | ### LIABILITIES AND STOCKHOLDER'S EQUITY | LIABILITIES: | | | |--------------------------------------------------------|-----------------|---------------| | Accounts payable-trade | \$
- | \$
143 | | Accrued commissions | 106,321 | 88,807 | | Accrued expenses and other | 154,642 | 113,910 | | Total liabilities | 260,963 | 202,860 | | STOCKHOLDER'S EQUITY : | | | | Common stock, \$1 par value, 10,000 shares authorized, | 6,000 | 6,000 | | 6,000 shares issued and outstanding | | | | Additional paid-in capital | 720,807 | 720,807 | | Retained earnings | 29,138 | 26,455 | | Total stockholder's equity | 755,945 | 753,262 | | TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY | \$
1,016,908 | \$
956,122 | {5}------------------------------------------------ # **TEXAKOMA FINANCIAL, INC. STATEMENT OF INCOME FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023** | | 2024 | 2023 | | |----------------------------|-----------------|-----------------|--| | REVENUE | | | | | Commission revenue | \$
1,193,924 | \$
2,073,392 | | | Reimbursed expenses | 1,655,588 | 2,007,484 | | | Officer compensation | 433,590 | 825,098 | | | Additional compensation | 84,172 | 306,482 | | | Manager overrides | 147,355 | 260,314 | | | Training salaries | 246,995 | 160,100 | | | Total revenue | 3,761,624 | 5,632,870 | | | EXPENSES: | | | | | Commissions | 1,145,049 | 2,073,392 | | | Salaries and wages | 1,218,754 | 1,939,317 | | | Payroll and general taxes | 273,104 | 349,747 | | | 401(k) contributions | 27,993 | 43,371 | | | Registration | 11,649 | 11,836 | | | Professional fees | 49,275 | 52,450 | | | Administration | 95,260 | 141,260 | | | Compliance expense | 264,762 | 311,950 | | | Leads | 243,390 | 238,580 | | | Rent | 310,478 | 311,796 | | | Communications | 19,403 | 18,799 | | | Postage and delivery | 30,863 | 36,223 | | | Other operating expenses | 68,230 | 102,962 | | | Total expenses | 3,758,210 | 5,631,683 | | | INCOME BEFORE INCOME TAXES | 3,414 | 1,187 | | | PROVISION FOR INCOME TAXES | | | | | Deferred tax expense | (731) | (249) | | | NET INCOME | \$
2,683 | \$
938 | | {6}------------------------------------------------ # **TEXAKOMA FINANCIAL, INC. STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023** | | Common | Additional
Paid-In | Retained | | |----------------------------|-------------|-----------------------|--------------|---------------| | | Stock | Capital | Earnings | Totals | | BALANCE, DECEMBER 31, 2022 | \$
6,000 | \$
720,807 | \$
25,517 | \$
752,324 | | Net income | | | 938 | 938 | | BALANCE, DECEMBER 31, 2023 | 6,000 | 720,807 | 26,455 | 753,262 | | Net income | | | 2,683 | 2,683 | | BALANCE, DECEMBER 31, 2024 | \$
6,000 | \$
720,807 | \$
29,138 | \$
755,945 | {7}------------------------------------------------ # **TEXAKOMA FINANCIAL, INC. STATEMENT OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023** | | 2024 | | 2023 | | |---------------------------------------------------------------------------------------------------------------|------|---------|---------------|--| | Cash flows from operating activities -
Net income | \$ | 2,683 | \$
938 | | | Adjustments to reconcile net earnings to net cash
provided (used) by operating activities -
Net Change: | | | | | | Accounts receivable | | (2,781) | 31,066 | | | Prepaid expenses | | (2,048) | (1,347) | | | Deferred tax asset | | 713 | 249 | | | Accounts payable-trade | | (143) | (322) | | | Accrued commissions | | 17,514 | 19,807 | | | Accrued expenses and other | | 40,732 | (47,551) | | | Net cash provided by operating activities | | 56,670 | 2,840 | | | Cash at the beginning of the year | | 724,418 | 721,578 | | | Cash at end of year | \$ | 781,088 | \$
724,418 | | | Supplemental Disclosures of Cash Flow Information: | | | | | | Cash paid during the year for: | | | | | | Interest | \$ | - | \$
- | | | Income taxes | \$ | - | \$
- | | {8}------------------------------------------------ #### **1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** ## **Organization -** Texakoma Financial, Inc. ("the Company"), a Texas Corporation, was incorporated in March 1985. The Company operates as a securities broker-dealer firm, registered with the Securities and Exchange Commission ("SEC") and securities regulatory commissions in several different states. It is a member of the Financial Industry Regulatory Authority ("FINRA") and the Securities Investor Protection Corporation. ## **Method of accounting -** The accounts of the Company are maintained on the accrual method of accounting with security transactions recorded on a trade date basis. ## **Basis of Presentation -** Certain financial statement items in prior years have been reclassified to conform to the current year's format. #### **Cash and cash equivalents -** The Company considers financial instruments with original maturities of three months or less to be cash equivalents. ## **Accounts receivable -** Accounts receivable are carried at the outstanding amount due, less an allowance for credit losses, if an allowance is deemed necessary. Due to the nature of the Company's contracts (see below and note 6), management considers all accountsreceivable to be fully collectible. Accordingly, no allowance for credit losses has been provided. If amounts become uncollectible, they will be charged to operations when that determination is made. Accounts receivable comprise trade accounts receivable and amounts due from related parties. Trade accounts receivable include amounts that were received subsequent to the balance sheet date and were accrued as receivables. #### **Revenue -** All of the Company's revenues are generated by services provided to affiliated companies pursuant to two contracts (see below and note 6). A portion of these revenues resulted from, and are a product of, the reimbursement of the Company's expenses incurred under the contracts (see note 7). ## **Accounting estimates -** The preparation of financial statements in conformity with generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from these estimates. ## **New Business Contract -** On November 25, 2024, the Company entered into a Soliciting Dealer Agreement with Arete Wealth Management, LLC (the "Managing Broker Dealer") and Texakoma Resources Partners '24, LP, a Texas Limited Partnership ("TRP24") which is managed by Texakoma Resources, LLC ("TRL"), its Managing General Partner and an affiliate of the Company (see note 6). Pursuant to the terms of the agreement, in December 2024, the Company sold partnership units in TRP24. {9}------------------------------------------------ #### **New Accounting Pronouncements -** In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires a public entity to disclose significant segment expenses and other segment items on an annual and interim basis and provide in interim periods all disclosures about a reportable segment's profit or loss and assets that are currently required annually. Additionally, it requires a public entity to disclose the title and position of the Chief Operating Decision Maker. The ASU does not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. This ASU requires companies to apply it, retrospectively, to all prior periods presented in the financial statements. The ASU will impact the Company's 2024 and 2023 disclosures (see note 2) but will have no impact on its results of operations, cash flows and financial condition. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which focuses on the rate reconciliation and income taxes paid. ASU 2023-09 requires public entities to disclose, on an annual basis, a tabular tax rate reconciliation using both percentages and currency amounts with specific categories, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. Additionally, all entities are required to disclose income taxes paid, net of refunds received, disaggregated by federal, state/local, and foreign taxes and by individual jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. The ASU also requires additional qualitative disclosures. ASU 2023-09 is effective prospectively for annual periods beginning after December 15, 2024, and early adoption and retrospective application are permitted. The Company plans to adopt the ASU in 2025. The ASU will impact the Company's income tax disclosures, but not its results of operations, cash flows and financial condition. #### **2. BROKER-DEALER – SINGLE REPORTABLE SEGMENT** The Company is engaged in a single line of business as a broker-dealer selling oil and gas interests. The Company has identified its President as the chief operating decision maker ("CODM"), who uses revenue and net income to evaluate the results of the business and to manage the Company. Additionally, the CODM uses excess net capital (see note 3), which is not a measure of profit and loss, to make operational decisions regarding the maintenance of capital adequacy. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using the information of the Company as a whole. As such, please refer to the accompanying Financial Statements representing the single reportable segment. 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. The Company derived a significant portion of its total revenue from Texakoma Exploration & Production, LLC in 2024 and 2023 (see notes 4 and 6). ## **3. NET CAPITAL REQUIREMENTS** The Company is subject to the SEC's Uniform Net Capital Rule (Rule 15c3-1), which requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. At December 31, 2024, the Company had net capital of \$520,125, which was \$502,727 in excess of its required net capital of \$17,398. At December 31, 2023, the Company had net capital of \$521,588, which was \$508,034 in excess of its required net capital of \$13,524. {10}------------------------------------------------ ### **4. ECONOMIC DEPENDENCY** The Company's business is dependent upon Texakoma Exploration & Production, LLC ("TEP"), an affiliated company that originates the majority of the oil and gas investment ventures marketed by the Company. The loss of these ventures could have a material adverse effect on the Company. ## **5. INCOME TAXES** The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. The Company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before 2021. The Company's deferred tax assets of \$10,864 at December 31, 2024 and \$11,577 at December 31, 2023 consist of the tax benefits of net operating loss ("NOL") carry forwards from prior years. The Company believes that the \$51,972 of NOL carry forwards will be utilized prior to expiration through future taxable earnings. The remaining NOL at December 31, 2024, along with the expiration dates, are listed below. | Year | NOL | Year of | |-----------|--------------|---------------| | Generated | Remaining | Expiration | | | | | | 2005 | \$
4,510 | 2025 | | 2007 | 1,792 | 2027 | | 2009 | 6,718 | 2029 | | 2011 | 9,971 | 2031 | | 2013 | 20,900 | 2033 | | 2015 | 3,314 | 2035 | | 2016 | 646 | 2036 | | 2019 | 566 | No expiration | | 2020 | 2,838 | No expiration | | 2021 | 717 | No expiration | | | \$
51,972 | | #### **6. RELATED PARTY TRANSACTIONS** The Company is under common and affiliated ownership and business management with TEP and Texakoma Operating, L.P. ("TOLP"). TOLP allocates to the Company a portion of the salaries of its employees based on the estimated time spent by each employee on the Company's business. TOLP also allocated to the Company various categories of overhead expense, including office rent, based on estimated usage. These allocated salaries and expenses were \$1,373,092 in 2024 and \$1,603,858 in 2023. The majority the Company's revenues were generated by services to TEP (see note 4) pursuant to a Facilities and Services Agreement ("Agreement"). This Agreement, renewed and amended as of November 1, 2024, has an initial term of five years unless earlier terminated as provided in the Agreement. TEP reimbursed the Company \$1,655,588 in 2024 and \$2,007,484 in 2023 for operating costs, including the salaries and overhead expense allocated to the Company by TOLP. As mentioned in Note 1, the Company sold partnership units in TRP24, which is managed by TRL. Both TRP24 and TRL are under common and affiliated ownership and business management with TEP and the Company. In December 2024, TEP allocated to the Company \$43,435 for a portion of salaries and expenses relating to the new business contract. {11}------------------------------------------------ Accounts receivable due from TEP as of December 31, 2024 and December 31, 2023 were \$153,450 and \$201,537, respectively. ### **7. REVENUE RECOGNITION** The Company determines revenue recognition through the following steps: (1) identification of the contract with the customer (see below); (2) identification of the performance obligations in the contract, which are the sale of securities resulting in the payment of compensation and the incurrence of expenses; (3) determination of the transaction price, which is the amount of commissions, compensation expense or expenses incurred or reimbursed; (4) allocation of the transaction price to the performance obligations in the contract, which is the amount of commissions or expenses actually incurred; and (5) recognition of revenue, which is at the point in time when the Company satisfies the performance obligation. ## **Revenue from TEP -** Pursuant to the Agreement (see note 6), TEP provides facilities and services to the Company and, in exchange, the Company provides placement services, regarding securities issued to investors in oil and gas programs sponsored by TEP. The Company is responsible for paying all selling concessions, commissions or other transaction-based compensation and related payroll taxes in connection with the securities issued and invoices TEP, typically on a weekly basis, for such amounts, along with any additional operating costs that may be paid by the Company. TEP is required to promptly pay any such invoice to reimburse the Company for all expenses. Even though TEP is ultimately responsible for fulfilling the promise to drill a well for the oil and gas venture, the Company is responsible for providing securities brokerage services and, thus, acts as a principal under the contract and records revenue on a gross basis. The investors receive the securities brokerage services and are considered the customer under this arrangement. The Company recognizes commission revenue, officer compensation, manager overrides, and training salaries when it satisfies performance obligations as evidenced by the incurrence of expenditures for the payment of commissions and compensation expenses relating to the sale of securities in oil and gas investment ventures. This recognition typically occurs on a weekly basis for commission revenue and training salaries, and on a monthly basis for manager overrides. Officer compensation recognition occurs both on a weekly and monthly basis. The Company recognizes reimbursed expenses revenue when it satisfies performance obligations resulting in reimbursement of operating expenses incurred in connection with the sales of securities in oil and gas investment ventures. This recognition typically occurs on a monthly basis but can occur weekly as incurred. Reimbursed expenses revenue includes professional fees of \$49,275 in 2024 and \$52,450 in 2023. And lastly, the Company recognizes additional compensation revenue when it satisfies the performance obligations as evidenced by the incurrence of expenditures for the payment of additional compensation expense which typically occurs annually in December each year. The exception to the aforementioned method occurs when a commission obligation is recorded as an advance to the respective broker prior to an oil and gas investment venture's minimum number of units being reached. Once the minimum number of units has been reached, commission expense, along with commission revenue, are recognized the following week. The nature of the Company's business gives rise to certain types of variable consideration, including the potential refund, after a program has closed, of units which were previously sold. Any refund is made at the sole discretion of the Company. This situation might occur in rare circumstances including, but not limited to, the death of an investor. The Company does not attempt to estimate the probability of a returned unit but, instead, reverses the associated compensation revenue and expense in the week following the refund. {12}------------------------------------------------ #### **Revenue from TRP24 -** Pursuant to the Soliciting Dealer Agreement with Arete Wealth Management, LLC ("Arete") and TRP24 (see note 1), the Company provided placement servicesregarding partnership interests issued to investors for a pooled oil and gas program sponsored by TRP24. The Company receives commissions from Arete and then is responsible for paying all commissions and related payroll taxes in connection with the securities issued, typically on a weekly basis, for such amounts that are issued by the Company. Even though TRP24 is ultimately responsible for fulfilling the promise to acquire and participate in the drilling of the wells in the pooled oil and gas program, the Company is responsible for providing securities brokerage services and, thus, acts as a principal under the contract and records revenue on a gross basis. The investors receive the securities brokerage services and are considered the customer under this arrangement. The Company recognizes the commission revenue, when it satisfies performance obligations as evidenced by the receipt of commissions from Arete relating to the sale of the partnership interests in the pooled oil and gas program. This recognition occurs on a weekly basis. The nature of the Company's business gives rise to certain types of variable consideration, including the potential refund, after a program has closed, of partnership interests which were previously sold. Any refund is made at the sole discretion of the Company. This situation might occur in rare circumstances including, but not limited to, the death of an investor. The Company does not attempt to estimate the probability of a returned partnership interest but, instead, reverses the associated compensation revenue and expense in the week following the refund. ## **8. TEXAKOMA FINANCIAL, INC. 401(k) PLAN** The Company established a 401(k) Plan for its employees on June 16, 1998. Under the Plan, employees may contribute up to the maximum amount allowed by the IRS, including catch-up contributions. The Company matched 25% of the employees' contributions up to a maximum of 6% of compensation in 2024 and 2023. The Company's contributions for the years ended December 31, 2024 and 2023 were \$27,993 and \$43,371, respectively. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"). Participants have the right to direct how their accounts are invested within several investment options offered by the Plan. ## **9. SIGNIFICANT CONCENTRATIONS OF CASH** All of the Company's cash (as reflected in the accompanying Statement of Financial Condition) is deposited with a single financial institution. As of December 31, 2024, such deposits are only insured up to \$250,000. ## **10. COMMITMENTS AND CONTINGENCIES** Management is not aware of any material commitments or contingencies that have not been otherwise disclosed in these financial statements. ## **11. SUBSEQUENT EVENTS** Management is not aware of any material subsequent events through February 25, 2025, the date which the financial statements were available to be issued. {13}------------------------------------------------ ## SUPPLEMENTARY INFORMATION {14}------------------------------------------------ # **TEXAKOMA FINANCIAL, INC. SUPPLEMENTARY INFORMATION FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023** # Schedule I, Computation of Net Capital Under Rule 15c3-1 | Excess net capital: | | | |-----------------------------------------------|--------|---------| | Total stockholder equity | \$ | 755,945 | | Less non-allowable assets: | | | | Accounts receivable - affiliate | | 153,450 | | Accounts receivable - other | | 52,191 | | Prepaid expenses | | 19,315 | | Deferred tax asset | | 10,864 | | | | | | Net capital | | 520,125 | | Minimum net capital required | | 17,398 | | Excess net capital | \$ | 502,727 | | | | | | Aggregate indebtedness to net capital: | | | | Accounts payable and accrued expenses | \$ | 260,963 | | | | | | Aggregate indebtedness | \$ | 260,963 | | Ratio: aggregate indebtedness to net capital: | 50.17% | | The difference between the above computation of net capital pursuant to rule 15c3-1 and that filed with the Company's unaudited December 31, 2024 FOCUS report is as follows: | Net capital per audit report | \$
520,125 | |------------------------------|--------------------| | FOCUS Report
Difference | \$
520,125
- | ## Schedule II, Computation for Determination of Reserve Requirements Under Rule 15c3-3 (exemption) The company claimed an exemption from 17 C.F.R. Section 240.15c3-3 relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. Section 240.17a-5 because the Company limits its business activities exclusively to selling oil and gas interests and the Company (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, (other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of Rule 15c2-4 and/or funds received and promptly transmitted for effecting transactions via subscriptions on a subscription way basis where the funds are payable to the issuer or its agent and not to the Company); (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. ## Schedule III, Information for Possession or Control Requirements Under Rule 15c3-3 (exemption) The company claimed an exemption from 17 C.F.R. Section 240.15c3-3 relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. Section 240.17a-5 because the Company limits its business activities exclusively to selling oil and gas interests and the Company (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, (other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of Rule 15c2-4 and/or funds received and promptly transmitted for effecting transactions via subscriptions on a subscription way basis where the funds are payable to the issuer or its agent and not to the Company); (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. {15}------------------------------------------------ TEXAKOMA FINANCIAL, INC. EXEMPTION REPORT REQUIRED BY RULE 15c3-3(k) DECEMBER 31, 2024 {16}------------------------------------------------ ![](_page_16_Picture_0.jpeg) ## REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Shareholder of Texakoma Financial, Inc. We have reviewed management's statements, included in the accompanying Rule 15c3-3 Exemption Report pursuant to SEC Rule 17a-5, in which (1) Texakoma Financial, Inc. (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 a broker-dealer selling oil and gas interests. In addition, the Company did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of Rule 15c2-4 and/or funds received and promptly transmitted for effecting transactions via subscriptions on a subscription way basis where the funds are payable to the issuer or its agent and not to the Company; 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. Texakoma Financial, Inc.'s management is responsible for compliance with the provisions contemplated by Footnote 74 of SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 and related SEC Staff Frequently Asked Questions 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 Texakoma Financial, Inc.'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. Flower Mound, TX February 25, 2025 {17}------------------------------------------------ ![](_page_17_Picture_0.jpeg) - - Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.