# COUNTRY CLUB FINANCIAL SERVICES, INC. X-17A-5 (2025-02-26) — Broker-dealer annual report

- Company: COUNTRY CLUB FINANCIAL SERVICES, INC.
- Form: X-17A-5
- Filed: 2025-02-26
- Period: 2024-12-31
- Accession: 0000883923-25-000005
- CIK: 883923
- File #: 8-44574
- Type: Broker-dealer
- Material weakness: No
- Auditor: FORVIS MAZARS
- Auditor location: Kansas City, MO
- Contact: Sandra L Dershem-Vega
- Phone: 8167514223
- Email: sdershem@cccapitaladvisors.com
- Website: cccapitaladvisors.com
- Signed by: Sandra Dershem-Vega (President)

Original filing: https://www.sec.gov/Archives/edgar/data/883923/000088392325000005/CCCAAuditReportCON2025GC.pdf

---

{0}------------------------------------------------

![](_page_0_Picture_0.jpeg)

# **Financial Statements and Schedules December 31, 2024 and 2023**

**(With Reports of Independent Registered Public Accounting Firm Thereon)** 

These financial statements and schedules should be deemed CONFIDENTIAL pursuant to subparagraph (e) (3) of Rule 1 ?a-5 under the Securities Exchange Act of 1934.

A statement of financial condition bound separately has been filed with the Securities and Exchange Commission simultaneously herewith as a PUBLIC document.

{1}------------------------------------------------

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

0MB APPROVAL 0MB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12

### **ANNUAL REPORTS FORM X-17A-5 PART** Ill

|  | SEC FILE NUMBER |  |
|--|-----------------|--|

**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 **01/01/2024**  AND ENDING **12/31/2024** 

MM/DD/VY

MM/DD/VY

**A. REGISTRANT IDENTIFICATION** 

## NAME oF FIRM: CC Capital Advisors, Inc.

TYPE OF REGISTRANT (check all applicable boxes):

0 Broker-dealer O Security-based swap dealer 0 Major security-based swap participant D Check here if respondent is also an OTC derivatives dealer

ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.)

1 Ward Parkway

|                                                                                     | (No. and Street)                                           |                                         |                                |  |
|-------------------------------------------------------------------------------------|------------------------------------------------------------|-----------------------------------------|--------------------------------|--|
| Kansas City                                                                         | MO                                                         |                                         | 64112                          |  |
| (City)                                                                              | (State)                                                    |                                         | (Zip Code)                     |  |
| PERSON TO CONTACT WITH REGARD TO THIS FILING                                        |                                                            |                                         |                                |  |
| Sandra Dershem-Vega                                                                 | (816) 751-4223                                             |                                         | sdershem@cccapitaladvisors.com |  |
| (Name)                                                                              | (Area Code - Telephone Number)                             | (Email Address)                         |                                |  |
|                                                                                     | B. ACCOUNTANT IDENTIFICATION                               |                                         |                                |  |
| INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*<br>FORVIS | (Name - if individual, state last, first, and middle name) |                                         |                                |  |
| 1201 Walnut Street, Suite 1700 Kansas City                                          |                                                            | MO                                      | 64106                          |  |
| (Address)                                                                           | (City)                                                     | (State)                                 | (Zip Code)                     |  |
| 10/16/2003                                                                          |                                                            |                                         | 686                            |  |
|                                                                                     |                                                            | (PCAOB Regi~ra,;o, N,mbe<, ;f .,,u~bl,} |                                |  |
|                                                                                     | FOR OFFICIAL USE ONLY                                      |                                         |                                |  |
|                                                                                     |                                                            |                                         |                                |  |

\* Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-S(e)(l)(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 0MB control number.

{2}------------------------------------------------

#### **OATH OR AFFIRMATION**

| I, Sandra Dershem-Vega                                               | swear (or affirm) that, to the best of my knowledge and belief, the |
|----------------------------------------------------------------------|---------------------------------------------------------------------|
| financial report pertaining to the firm of cc Capital Advisors, Inc. | as of                                                               |

**12/31** 2~ 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.

Notary Public

TA Notary Public-Notary Seal STATE OF MISSOURI Jackson County **My** Commission Expires Dec. 20, 2026

Commission# 14426217

#### **This filing\*\* contains {check all applicable boxes):**

- ~ (a) Statement of financial condition.
- D (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.
- D (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-l, as applicable.
- D (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.
- D (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.
- D (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 240.1Sc3-3.
- D (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.1Sc3-3(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-l, 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.
- D (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition.
- ~ (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable.
- D (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- **l!il** (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- D (t) Independent public accountant's report based on an examination of the statement of financial condition.
- ~ (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable.
- D (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.
- D (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-le or 17 CFR 240.17a-12, as applicable.
- D (y) Report describing any material inadequacies found to exist or found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k).
- D (z) Other:--------------------------------------
- \*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d}(2}, as applicable.

{3}------------------------------------------------

# **CC Capital Advisors, Inc.**

**December 31, 2024 and 2023** 

### **Contents**

| Report of Independent Registered Public Accounting Firm  1 |  |
|------------------------------------------------------------|--|
|                                                            |  |

#### **Financial Statements**

| Statements of Financial Condition     | 3   |
|---------------------------------------|-----|
| Statements of Operations              | . 4 |
| Statements of Stockholder's Equity  5 |     |
| Statements of Cash Flows              | 6   |
| Notes to Financial Statements         | 7   |

#### **Supplemental Schedule**

|  | Computation of Net Capital under Rule 15c3-1 of the Securities and Exchange Commission  13 |
|--|--------------------------------------------------------------------------------------------|
|  |                                                                                            |

| Exemption Report<br>14 |
|------------------------|
|------------------------|

|  | Report of Independent Registered Public Accounting Firm  15 |
|--|-------------------------------------------------------------|
|--|-------------------------------------------------------------|

{4}------------------------------------------------

Forvis Mazars, LLP 1201 Walnut Street, Suite 1700 Kansas City, MO 64106 **P** 816.221.6300 I **F** 816.221.6380 **forvismazars.us** 

![](_page_4_Picture_1.jpeg)

#### **Report of Independent Registered Public Accounting Firm**

To the Board of Directors and Stockholder CC Capital Advisors, Inc. Kansas City, Missouri

#### **Opinion on the Financial Statements**

We have audited the accompanying statements of financial condition of CC Capital Advisors, Inc. (the "Company") as of December 31, 2024 and 2023, the related statements of operations, stockholder's 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 the Company 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 the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. 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 audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits 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 audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

#### **Supplemental Information**

The Computation of Net Capital under Rule 15c3-1 as of December 31, 2024 ("supplemental information") has been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. The supplemental information is the responsibility of the Company'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,

{5}------------------------------------------------

To the Board of Directors and Stockholder CC Capital Advisors, Inc.

including its form and content, is presented in conformity with 17 CFR §240.17a-5. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

We have served as the Company's auditor since 2013.

**Kansas City, Missouri February 25, 2025** 

{6}------------------------------------------------

# **CC Capital Advisors, Inc. Statements of Financial Condition**

**December 31, 2024 and 2023** 

| Assets                                                     | 2024         | 2023         |
|------------------------------------------------------------|--------------|--------------|
| Cash and cash equivalents                                  |              |              |
|                                                            | \$10,217,592 | \$9,428,423  |
| Accounts receivable                                        | 85,043       | 14,725       |
| Prepaid expenses                                           | 154,543      | 150,175      |
| Furniture, fixtures and equipment -<br>net                 | 146,277      | 73,651       |
| Total assets                                               | \$10,603,455 | \$9,666,974  |
|                                                            |              |              |
| Liabilities                                                |              |              |
| Accounts payable and accrued liabilities                   | \$<br>44,929 | \$<br>38,446 |
| Total liabilities                                          | 44,929       | 38,446       |
| Stockholder's Equity                                       |              |              |
| Common stock, \$0.10 par value; authorized 100,000 shares; |              |              |
| issued and outstanding 1,000 shares                        | 100          | 100          |
| Additional paid-in capital                                 | 6,617,900    | 6,617,900    |
| Retained earnings                                          | 3,940,526    | 3,010,528    |
|                                                            |              |              |
| Total stockholder's equity                                 | 10,558,526   | 9,628,528    |
| Total liabilities and stockholder's equity                 | \$10,603,455 | \$9,666,974  |

{7}------------------------------------------------

# **CC Capital Advisors, Inc. Statements of Operations Years Ended December 31, 2024 and 2023**

|                                        | 2024        | 2023         |
|----------------------------------------|-------------|--------------|
| Revenues                               |             |              |
| Investment banking advisory fee income | \$5,003,536 | \$ 3,197,445 |
| Commissions                            | 51,113      | 58,338       |
| Other revenues                         | 605,417     | 620,070      |
| Total revenues                         | 5,660,066   | 3,875,853    |
| Expenses                               |             |              |
| Personnel services                     | 3,417,532   | 2,663,986    |
| Management services                    | 819,296     | 684,000      |
| Outside electronic data processing     | 7,718       | 8,538        |
| Occupancy<br>and equipment             | 73,742      | 112,218      |
| Professional fees                      | 3,087       | 41,786       |
| Dues and subscriptions                 | 155,690     | 153,046      |
| Regulatory fees                        | 15,459      | 25,573       |
| Depreciation                           | 10,214      | 4,754        |
| Advertising costs                      | 26,302      | 34,114       |
| Stationery and supplies                | 2,399       | 1,280        |
| Other operating expenses               | 198,629     | 196,612      |
| Total expenses                         | 4,730,068   | 3,925,907    |
| Net Income (Loss)                      | 929,998     | (50,054)     |

{8}------------------------------------------------

# CC Capital Advisors, Inc. Statement of Stockholder's Equity Years ended December 31, 2024 and 2023

|                            |    | Common<br>Stock | .Additional<br>Paid-in<br>Capital | Retained<br>Earnings | Total<br>Stockholder's<br>Equity |            |
|----------------------------|----|-----------------|-----------------------------------|----------------------|----------------------------------|------------|
| Balance, January 1, 2023   | \$ | 100             | \$6,617,900                       | \$ 3,060,582         | \$                               | 9,678,582  |
| Net Loss                   |    |                 |                                   | (50,054)             |                                  | (50,054)   |
| Balance, December 31, 2023 |    | 100             | 6,617,900                         | 3,010,528            |                                  | 9,628,528  |
| Net Income                 |    |                 |                                   | 929,998              |                                  | 929,998    |
| Balance, December 31, 2024 | \$ | 100             | \$6,617,900                       | \$ 3,940,526         | \$                               | 10,558,526 |

{9}------------------------------------------------

# **CC Capital Advisors, Inc.**

### **Statements of Cash Flows December 31, 2024 and 2023**

|                                                     |    |              | 2023           |
|-----------------------------------------------------|----|--------------|----------------|
| Operating Activities                                |    | 2024         |                |
| Net Income<br>(Loss)                                | \$ | 929,998      | \$<br>(50,054) |
| Items not requiring cash                            |    |              |                |
| Depreciation                                        |    | 10,212       | 4,754          |
| Changes in                                          |    |              |                |
| Accounts receivable                                 |    | (70,318)     | 21,683         |
| Prepaid expenses                                    |    | (4,368)      | (29,581)       |
| Accounts payable and accrued liabilities            |    | 6,483        | (126,275)      |
| Net cash provided by (used in) operating activities |    | 872,007      | (179,473)      |
| Investing Activities                                |    |              |                |
| Purchases of premises and equipment                 |    | (83,338)     | (26,021)       |
| Proceeds from sale of premises and equipment        |    | 500          |                |
|                                                     |    |              |                |
| Net cash used in investing activities               |    | (82,838)     | (26,021)       |
| Increase (Decrease)<br>in Cash and Cash Equivalents |    | 789,169      | (205,494)      |
| Cash and Cash Equivalents,<br>Beginning of Year     |    | 9,428,423    | 9,633,916      |
| Cash and Cash Equivalents,<br>End of Year           |    | \$10,217,592 | \$ 9,428,423   |

{10}------------------------------------------------

#### **Note 1: Nature of Operations and Summary of Significant Accounting Policies**

#### **Nature of Operations**

CC Capital Advisors, Inc. (the "Company") is a limited services securities broker that provides investment banking services, the sale of fixed insurance and annuity products, and sells institutional non-interest fee income products under its own name and also under the name of Wheatland Advisors. The Company employs 13 registered representatives at offices in 2 locations in Kansas and Missouri. The Company is licensed in 2 states and is a member in good standing of the Financial Industry Regulatory Authority ("FINRA") and the state agencies. The firm is also a member of the Securities Investor Protection Corporation. The Company is registered with the Securities and Exchange Commission ("SEC") and is subject to the net capital requirements of SEC Rule 15c3-1.

The Company is a non-covered firm, which is a broker-dealer that does not meet any of the exemptive provisions of paragraph (k) of SEC Rule 15c3-3. The Company files an Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R .. §240.17a-5.

The Company is a wholly-owned subsidiary of Country Club Bank ("Parent"), and the Parent is a wholly-owned subsidiary of CCB Financial Corporation ("Holding Company"); as such, the Company files a consolidated S corporation income tax return with both its Parent and the Holding Company.

#### **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, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

#### **Cash Equivalents**

The Company considers all liquid investments with original maturities of three months or less to be cash equivalents. As of December 31, 2024 cash equivalents consisted primarily of money market accounts with unaffiliated institutions.

#### **Revenue Recognition**

The Company provides advisory services on mergers and acquisitions (M&A). Revenue for advisory arrangements is generally recognized at the point in time that performance under the arrangement is completed (the closing date of the transaction) or the contract is cancelled.

Success fees generated from the closing of transactions are a variable form of consideration that is constrained until an acquisition or sale closes, as that is the point at which management believes the performance obligation has been met and collection ofrevenue is probable. 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. For these

{11}------------------------------------------------

arrangements, the Company has a contractual right to consideration from a customer in an amount that corresponds directly with the value to the customer of the Company's performance completed to date. The Company recognizes this revenue to the extent that they have a contractual right to invoice. Customers are billed as services are rendered, which can be either based on a stated hourly rate or a specified monthly charge in the contract. In both cases, the invoiced amount is commensurate with the value being provided to the customer, and therefore, this recognition method provides an accurate depiction of the transfer of these services.

Commission revenue from fixed insurance and annuity sales and payments from institutional noninterest fee income products are recognized as revenues on the settlement date. Settlement date is determined upon the issuance and acceptance of the policy by both parties, which is the date the Company's performance obligation is satisfied for each transaction.

#### **Income Taxes**

The Company's Parent and Holding Company have elected S-corporation status for the consolidated group. The Holding Company is no longer subject to federal or state income tax examinations by taxing authorities before 2021.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The standard is applicable to all public entities, including public entities with a single reportable segment, and requires enhanced reportable segment disclosures. The disclosures include significant segment expenses regularly provided to the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss. The standard also requires disclosure of the title and position of the CODM as well as how the CODM uses the reported measures of a segment's profit or loss to assess segment performance and decided how to allocate resources. The Company adopted ASU 2023-07 and included required disclosures in Note 10. The adoption of this standard did not have a material impact on our financial position, results of operations or cash flows.

#### **Note 2: Related-party Transactions**

The Parent provides management services as needed at a cost to the Company of \$819,296 for 2024 and 684,000 in 2023. The Parent also provides office space at a cost to the Company of \$106,252 and \$104,400 for 2024 and 2023 respectively. For 2024 and 2023, the Company received insurance commission income of \$9,377 and \$9,746 respectively, from premiums paid by the Parent.

The Company maintains its primary operating cash account at Country Club Bank. The balance in this account was \$300,230 and \$302,799 at December 31, 2024 and 2023, respectively.

{12}------------------------------------------------

#### **Note 3: Furniture, Fixtures and Equipment**

At December 31, 2024 and 2023, furniture, fixtures and equipment consisted of the following:

|                                                                    | 2024                       | 2023                       |
|--------------------------------------------------------------------|----------------------------|----------------------------|
| Furniture, fixtures and equipment<br>Less accumulated depreciation | \$<br>251,356<br>(105,079) | \$<br>175,006<br>(101,355) |
| Total furniture, fixtures and equipment                            | \$<br>146,277              | \$<br>73,651               |

#### **Note 4: Net Capital Requirements**

The Company is subject to the Securities and Exchange Commission uniform net capital rule (Rule l 5c3-1 ), which requires the maintenance of a minimum amount of net capital, and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. Rule l 5c3-1 also provides that equity capital may not be withdrawn or cash dividends paid, if the resulting net capital ratio would exceed 10 to 1. Net capital requirements at December 31, 2024 and 2023 are summarized as follows:

|                             | 2024 |             | 2023        |
|-----------------------------|------|-------------|-------------|
|                             |      |             |             |
| Net capital                 | \$   | 10,102,587  | \$9,319,889 |
| Aggregate indebtedness      |      | 44,929      | 38,446      |
| Mnimum net capital required |      | 5,000       | 5,000       |
| Excess net capital at 1500% |      | 10,097,587  | 9,314,889   |
| Excess net capital at 1000% |      | 10,096,587  | 9,313,889   |
| Net capital ratio           |      | 0.0044 to 1 | 0.0040 to 1 |

#### **Note 5: Investment Banking Advisory Fees**

The following presents investment banking revenue by major source for 2024 and 2023:

#### **Total Investment Banking Revenue**

|                                  | 2024            | 2023         |
|----------------------------------|-----------------|--------------|
| Success fees on transactions     | \$<br>4,444,376 | \$ 2,918,190 |
| Advisory seNices fees            | 559,161         | 279,255      |
|                                  |                 |              |
| Total Investment Banking Revenue | \$<br>5,003,537 | \$ 3,197,445 |
|                                  |                 |              |

{13}------------------------------------------------

#### **Note 6: Disclosures about the Fair Value of Financial Instruments**

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value:

- Level 1 Quoted prices in active markets for identical assets or liabilities
- Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
- Level 3 Unobservable inputs supported by little or no market activity and are significant to the fair value of the assets or liabilities

#### **Recurring Measurements**

The following tables present the fair value measurement of assets recognized in the accompanying balance sheet measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2024 and 2023. Money market funds are classified within Level 1 of the hierarchy. The firm held no securities classified within level 2 or level 3 of the hierarchy.

{14}------------------------------------------------

# **CC Capital Advisors, Inc. Notes to Financial Statements**

**December 31, 2024 and 2023** 

|                            |             | 2024<br>Fair Value Measurements Using |             |              |  |  |
|----------------------------|-------------|---------------------------------------|-------------|--------------|--|--|
|                            |             |                                       |             |              |  |  |
|                            |             | Quoted Prices                         |             |              |  |  |
|                            |             | in Active                             | Significant |              |  |  |
|                            |             | Markets for                           | Other       | Significant  |  |  |
|                            |             | Identical                             | Observable  | Unobservable |  |  |
|                            |             | Assets                                | Inputs      | Inputs       |  |  |
| Asset                      | Fair Value  | (Level 1)                             | (Level 2)   | (Level 3)    |  |  |
|                            |             |                                       |             |              |  |  |
| rvloney market mutual fund | \$1,000,000 | \$<br>1,000,000                       | \$          | \$           |  |  |

|                            |             | 2023                               |                                              |                                       |  |  |
|----------------------------|-------------|------------------------------------|----------------------------------------------|---------------------------------------|--|--|
|                            |             | Quoted Prices<br>in Active         | Fair Value Measurements Using<br>Significant |                                       |  |  |
|                            |             | Markets for<br>Identical<br>Assets | Other<br>Observable<br>Inputs                | Significant<br>Unobservable<br>Inputs |  |  |
| Asset                      | Fair Value  | (Level 1)                          | (Level 2)                                    | (Level 3)                             |  |  |
| rvloney market mutual fund | \$1,000,000 | \$<br>1,000,000                    | \$                                           | \$                                    |  |  |

#### **Note 7: Commitments and Contingencies**

#### **General Litigation**

The Company is subject to claims and lawsuits that arise primarily in the ordinary course of business. It is the opinion of management that the disposition or ultimate resolution of such claims and lawsuits will not have a material adverse effect on the financial position, results of operations and cash flows of the Company.

#### **Current Economic Conditions**

Changing economic and financial market conditions could adversely affect the Company's results of operations in future periods. The accompanying financial statements have been prepared using values and information currently available to the Company.

{15}------------------------------------------------

#### **Note 8: Reliance on Third-party Liquidity**

The Company has sustained operating losses and negative operating cash flows in previous periods. Management recognizes that the Company may be reliant on its Parent to provide continued financial support. The Parent has assured management that financial support will continue.

The Company has received a commitment from its Parent to provide additional funds through March 3, 2026 to meet liquidity needs not covered by operating cash flows.

The Parent did not make capital contributions to the Company during 2024 and 2023.

#### **Note 9: Significant Estimates and Concentrations**

U.S. generally accepted accounting principles requires disclosure of certain significant estimates and current vulnerabilities due to certain concentrations. Approximately 43 percent of investment banking advisory fee income was received from a single client and 24 percent was received from a second client for the year ended December 31, 2024

For the year ended December 31, 2023, approximately 36 percent of investment banking advisory fee income was received from a single client, 35 percent was received from a second client and revenue from a third client comprised approximately 14 percent.

#### **Note 10: Operating Segments:**

The Company's reportable segment is determined by the Chief Financial Officer, who is the designated chief operating decision maker, based upon information provided about the Company's products and services offered, primarily investment banking services. The segment is also distinguished by the level of information provided to the chief operating decision maker, who uses such information to review performance of various components of the business (such as general transaction services, bank-focused transaction services, and other fee-generating services), which are then aggregated if operating performance, products/services, and/or customers are similar. The chief operating decision maker will evaluate the financial performance of the Company's business components by evaluating revenue streams, significant expenses, and budget to actual results in assessing the Company's segment and in the determination of allocating resources. All operations are domestic.

While the chief decision-maker monitors the revenue streams of the various products and services, operations are managed, and financial performance is evaluated on a Company-wide basis. Operating segments are aggregated into one as operating results for all reportable segments are similar. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment.

{16}------------------------------------------------

#### **Note 11: Subsequent Events**

On January 1, 2025, the Company ceased the operations of one of its three operating segments. All three segments are combined into a single reportable unit for the years ended December 31, 2024 and 2023. The operating segment which ceased operations was one of two segments which provided merger and acquisition advisory services. There were no material cash outlays or other expenditures outside of the normal course of business in conjunction with the discontinuation of the segment. Management has evaluated the expected effect on the Company's financial condition, obligations and anticipated cash flows and has determined that it is more likely than not that the Company will continue to meet its obligations in the year following the issuance of the financial statements. Management has also evaluated the potential effect on Required Minimum Net Capital. Management believes that the ongoing operations of the two remaining operating segments will continue to supply the Company with the capital required to meet and surpass the minimum requirement.

Subsequent events have been evaluated through February 25, 2025, which is the date the financial statements were issued.

{17}------------------------------------------------

Supplemental Schedule

{18}------------------------------------------------

# **CC Capital Advisors, Inc.**

### **Computation of Net Capital under Rule 15c3-1 of the Securities and Exchange Commission December 31, 2024**

| Aggregate Indebtedness                                                                          | \$<br>44,929 |
|-------------------------------------------------------------------------------------------------|--------------|
| Minimum Net Capital Required, Greater of 6-2/3% of<br>Aggregate Indebtedness or \$5,000 Minimum | \$<br>5,000  |
| Stockholder's Equity                                                                            | \$10,558,526 |
| Nonallowable Assets                                                                             |              |
| Property and equipment, net                                                                     | 146,277      |
| Other                                                                                           | 239,586      |
|                                                                                                 |              |
| Total nonallowable assets                                                                       | 385,863      |
| Haircut on Money Market Account                                                                 | 20,076       |
| Other Deductions and Charges                                                                    | 50,000       |
|                                                                                                 |              |
| Net Capital                                                                                     | \$10,102,587 |
|                                                                                                 |              |
| Capital in Excess of Requirement                                                                | \$10,097,587 |
| Ratio of Aggregate Indebtedness to Net Capital                                                  | .0044:1      |
|                                                                                                 |              |

No material differences exist between the above net capital calculation and the corresponding information included in the Company's unaudited X-l 7A-5 Part IIA filing as of December 31, 2024. Therefore, no reconciliation of the two computations is deemed necessary.

{19}------------------------------------------------

# **CC Capital Advisors, Inc. Exemption Report**

CC Capital Advisors, Inc .. (the "Company") is a registered broker-dealer subject to Rule l 7a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. § 240. l 7a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F .R. § 240. l 7a-5( d) (1) and (4).

To the best of its knowledge and belief, the Company states the following:

- (1) The Company does not claim an exemption under paragraph (k) of section 17 C.F.R. § 240.15c3-3.
- (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.l 7a-5. The Company is a Non-Covered firm that limits its business activities exclusively to receiving transaction-based compensation for identifying potential merger and acquisition opportunities for clients, providing advisory services to issuers regarding private placements (the Company does not act as a placement agent) and commission revenue from fixed insurance and annuity sales and the marketing of third party product and software licenses; and the Company (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers (2) did not carry accounts of or for customers; and (3) did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year. The Company has met the identified exemption provisions in 17 C.F.R. § 240.15c3-3 throughout the most recent fiscal year without exception.

CC Capital Advisors, Inc.

I, Sandra Dershem-Vega, affirm that, to my best knowledge and belief, this Exemption Report is true and correct.

Title: President Date: February 25, 2025

{20}------------------------------------------------

Forvis Mazars, LLP 1201 Walnut Street, Suite 1700 Kansas City, MO 64106 **P** 816.221.6300 I **F** 816.221.6380 **forvismazars.us** 

![](_page_20_Picture_1.jpeg)

#### **Report of Independent Registered Public Accounting Firm**

To the Board of Directors and Stockholder CC Capital Advisors, Inc. Kansas City, Missouri

We have reviewed management's statements, included in the accompanying CC Capital Advisors, Inc. Exemption Report pursuant to SEC Rule 17a-5, in which (1) CC Capital Advisors, 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 receiving transactionbased compensation for identifying potential merger and acquisition opportunities for clients, providing advisory services to issuers regarding private placements (the Company does not act as a placement agent) and commission revenue from fixed insurance and annuity sales and the marketing of third party product and software licenses, and (3) the Company stated it did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, did not carry accounts of or for customers, and did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception.

The Company's management is responsible for compliance with the provisions of Footnote 7 4 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. §240.17a-5 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 the Company'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 on the Company's business activities contemplated by Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 CFR §240.17a-5.

# **Forvi( MAZAY(, L.LP**

**Kansas City, Missouri February 25, 2025**


Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.