# BLACK OAK SECURITIES, INC. X-17A-5 (2025-09-23) — Broker-dealer annual report - Company: BLACK OAK SECURITIES, INC. - Form: X-17A-5 - Filed: 2025-09-23 - Period: 2025-06-30 - Accession: 0000892705-25-000003 - CIK: 892705 - File #: 8-45219 - Type: Broker-dealer - Material weakness: No - Auditor: Kerber Eck & Braeckel LLP - Auditor location: Springfield, IL - Contact: Dwan Gross - Phone: 2174987876 - Email: dwan.n.gross@blackoaksecurities.com - Website: blackoaksecurities.com - Signed by: Dwan Gross (President) Original filing: https://www.sec.gov/Archives/edgar/data/892705/000089270525000003/AnnualAuditedReports.pdf --- {0}------------------------------------------------ ### UNITED ST ATES SECURITIES AND EXCHANGE COMMISSION Washington, o.c. 20549 | ANNUAL
REPORTS | |---------------------| | FORM
X-17
A-5 | | PART
Ill | | OMB APPROVAL | | | | |-----------------------------|--|--|--| | OMB Number:
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12 | | | | SEC FILE NUMBER # FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 07/01/24 06/30/25 FILING FOR THE PERIOD BEGINNING AND ENDING MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION Black Oak Securities, Inc. NAME OF FIRM: TYPE OF REGISTRANT (check all applicable boxes): EI Broker-dealer € Security-based swap dealer € Clieck 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.) 707 Carroll St - Ste C (No. and Street) Pawnee IL (City) (State) 62558 (Zip Code) PERSON TO CONT ACT WITH REGARD TO THIS FILING Dwan Gross 2al7-498-7876 (Name) (AreaCode-TelephoneNumber) dwan.n.gross@blackoaksecurities.com (Email Address) B. ACCOUNT ANT IDENTIFICATION INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* Kerber Eck & Braeckel LLP (Name-if individual, state last, first, and middle name) 3200 Robbins Rd - Ste 200A Springfield IL 62704 (Address) (City) (State) (ZipCode) 10/22/2003 718 (Date of Registration witli PCAOB%if applicable) (PCAOB Registration Number, if applicable) FOR OFFICIAL USE ONLY " Claims for exemption from tlie requiremem 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.l7a-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}------------------------------------------------ I, DWanGrOSS , swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of BlackOakSecurities,Inc. , as of June3o ,2 25, 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. ![](_page_1_Picture_4.jpeg) This filing\*\* contains (check all applicable boxes): - m (a) Statement of financial condition. - € (b) Notes to consolidated statement of financial condition. - m (c) Statement ofincome (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. - € (f) Statement of changes in liabilities subordinated to claims of creditors. - @ (g) Notes to consolidated financial statements. - @ (l'i) Cornputation of net capital under 17 CFR 240.l5c3-1 or 17 CFR 240.l8a-1, as applicable. - € (i) Computation of tangible net worth under 17 CFR 240.l8a-2. - € (j)ComputationfordeterminationofcustomerreserverequirementspursuanttoExhibitAtol7CFR240.15c3-3. - € (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.l5c3-3 or Exhibit A to 17 CFR 240.l8a-4, as applicable. - [3 (I) Computation for Determination of PAB Requirements under Exhibit A to § 240.l5c3-3. - € (rn) Information relating to possession or control requirements for custoiners under 17 CFR 240.l5c3-3. - € (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.l5c3-3(p%2) or 17 CFR 240.l8a-4, as applicable. - @ (o) Reconciliations, including appropriate explanations, of the FOCUS Report witli computation of net capital or tangible net worth under 17 CFR 240.l5c3-1, 17 CFR 240.l8a-1, or 17 CFR 240.l8a-2, as applicable, and the reserve requirements under 17 CFR 240.l5c3-3 or 17 CFR 240.l8a-4, as applicable, if material differences exist, or a statement that no material differences exist. - € (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - @ (q) Oath or affirmation in accordance with 17 CFR 240.l7a-5, 17 CFR 240.l7a-12, or 17 CFR 240.l8a-7, as applicable. - [] (r) Compliance report in accordance with 17 CFR 240.l7a-5 or 17 CFR 240.l8a-7, as applicable. - @ (s) Exemption report in accordance with 17 CFR 240.l7a-5 or 17 CFR 240.l8a-7, as applicable. - € (t) Independent public accountant's report based on an exan'iination of tlie statement of financial condition. - jl (u) Independent public accountant's report based on an examination of tl'ie financial report or financial statements under 17 CFR 240.l7a-5, 17 CFR 240.l8a-7, or 17 CFR 240.l7a-12, as applicable. - € (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.l7a-5 or 17 CFR 240.l8a-7, as applicable. - ji (w) Independent public accountant's report based on a review oT the exeinption report under 17 CFR 240.l7a-5 or 17 CFR 240.l8a-7, as applicable. - € (x)Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.l5c3-le or 17 CFR 240.l7a-12, as applicable. - € (y)Reportdescribinganymaterialinadequaciesfoundtoexistorfoundtohaveexistedsincethedateofthepreviousaudit,or a statement that no material inadequacies exist, under 17 CFR 240.l7a-12(k). - € (z) Ottier: - \*\*To request confidential treatment of certain portions of this fiting, see17 CFR240.l7a-5(e)(3) or- 17 CFR240.l8a-7(d)(2), as applicable. {2}------------------------------------------------ ### BLACK OAK SECURITIES, INC. FINANCIAL ST ATEMENTS AND INDEPENDENT AUDITORS' REPORT June 30, 2025 {3}------------------------------------------------ ### CONTENTS | | Page | |----------------------------------------------------------------------------|------| | REPORT
OF
INDEPENDENT
REGISTERED
PUBLIC
ACCO{JNTING
FIRM | 3 | | FINANCIAL
ST ATEMENTS | | | ST ATEMENT
OF
FINANCIAL
CONDITION | 5 | | ST ATEMENT
OF
OPERATIONS | 6 | | ST ATEMENT
OF
CHANGES
IN
STOCKE-IOLDER'S
EQUITY | 7 | | ST ATEMENT
OF
CASH
FLOWS | 8 | | NOTES
TO
FINANCIAL
ST ATEMENTS | 9 | | SUPPLEMENT
ARY
INFORMATION | | | SCHEDULE
1 - NET
CAPIT
AL
COMPUT
ATION | 13 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) kerber. Eck & Braeckel LLP 3200 Robbins Road Suite 200A Springfield, IL 62704 P 217.789.0960 F 217.789.2B22 ### Report of Independent Registered Public Accounting Firm To the Board of Directors and Stockholder Black Oak Securities, Inc. ### Opinion on the Financial Statements We have audited the accompanying statement of financial condition of Black Oak Securities, Inc. (an Illinois corporation) as of June 30, 2025, and the related statements of operations, changes in stockholder's equity, and cash flows for the year 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 Black Oak Securities, Inc. as of June 30, 2025, and the results of its operations and its cash flows for the year ended June 30, 2025, in conformity with accounting principles generally accepted in the United States ofAmerica. ### Basis of Opinion These financial statements are the responsibility of Black Oak Securities, Inc.'s management. Our responsibility is to express an opinion on Black Oak Securities, 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 Black Oak Securities, Inc. in accordance with the u.s. federal securities laws and the applicable rules and regulations ofthe 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. {5}------------------------------------------------ ### Auditors' Report on Supplementary Information Schedule 1 - Net Capital Computation has been subjected to audit procedures performed in conjunction with the audit of Black Oak Securities, Inc.'s financial statements. The supplementary information is the responsibility of Black Oak Securities, Inc.'s management. Our audit procedures included determining whether the supplementary 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 supplementary information. In forming our opinion on the supplemental information, we evaluated whether the supplementary information, including its form and content, is presented in conformity with 17 C.F.R. fi240.l7a-5. In our opinion, Schedule 1 - Net Capital Computation is fairly stated, in all material respects, in relation to the financial statements as a whole. &/aec'+J""aqi-A/((7 We have served as Black Oak Securities, Inc.'s auditors since 2009. Springfield, Illinois September 19, 2025 {6}------------------------------------------------ ### ST ATEMENT OF FINANCIAL CONDITION ### June 30, 2025 ### ASSETS | Cash
and
cash
equivalents | \$
410,049 | |------------------------------------------------------------------------------|---------------| | Coinmissions
receivable | 51,643 | | Prepaid
expenses | 1,618 | | Total
assets | \$
463,310 | | | | | LIABILITIES
AND
STOCKHOLDER'S
EQUITY | | | Commissions
payable | 23,261 | | Income
tax
payable | 12,752 | | Total
liabilities | 36,013 | | stock,
\$1
value,
1,000
Cornrnon
par
shares
authorized, | | | 610
shares
issued
and
outstanding | 610 | | Additional
paid-in
capital | 5,390 | | Retained
earnings | 421,297 | | Total
liabilities
and
stockholder's
equity | \$
463,310 | |--------------------------------------------------------|---------------| 427,297 The accompanying notes are an integral part of this statement. Total stockholder's equity {7}------------------------------------------------ ### ST ATEMENT OF OPERATIONS ### For the year ended June 30, 2025 | Revenue | | |-------------------------------------|---------------| | Securities
com+nissions | \$
497,709 | | Investment
income | 2,223 | | Total
revenues | 499,932 | | Expenses | | | Administration
fees | 119,700 | | Commissions | 273,820 | | Other
operating
expenses | 11,822 | | Total
expenses | 405,342 | | Income
before
income
taxes | 94,590 | | Income
tax
expense | 29,077 | | Net
Income | \$
65,513 | | | | The accompanying notes are an integral part of this statement. {8}------------------------------------------------ ### ST ATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY #### For the year ended June 30, 2025 | | Common
Stock | | Additional
Paid-In
Capital | | Retained
Earnings | | Total
Stockholder's | | |-----------------------------------|-----------------|-----|----------------------------------|-------|----------------------|---------|------------------------|---------| | Balance
at July
1, 2024 | | 610 | | 5,390 | \$ | 355,784 | \$ | 361,784 | | %et
Income | | | | | | 65,513 | | 65,513 | | Balance
at June
30,
2025 | | 610 | | 5,390 | \$ | 421,297 | \$ | 427,297 | The accompanying notes are an integral part of this statement. {9}------------------------------------------------ # ST ATEMENT OF CASH FLOWS # For the year ended June 30, 2025 | Cash
flows
from
operating
activities | | |----------------------------------------------------------------------------------|---------------| | Net
Income | 65,513 | | Adjustments
to reconcile
net
income
to net
cash
provided
by | | | operating
activitieS | | | Decrease
in
corni'nissions
receivable | 2,420 | | Decrease
in
other
receivables | | | Decrease
in prepaid
expenses | 236 | | Decrease
in
commissions
payable | (1,086) | | Increase
in
tax
liability | 1,987 | | Net
cash
provided
by
operating
activities | 69,070 | | Net
increase
in
cash
and
cash
equivalents | 69,070 | | Cash
and
cash
equivalents
at begiru'iing
of year | 340,979 | | Cash
and
cash
equivalents
at end
of
year | \$
410,049 | | | | | Supplemental
Data | | | Cash
Paid
for
Income
Taxes | 27,090 | The accompanying notes are an integral part of this statement. {10}------------------------------------------------ # NOTES TO FINANCIAL ST ATEMENTS ## June 30, 2025 # NOTE A - SUMMARY OF ACCOUNTING POLICIES A summary of the Company's significant accounting policies consistently applied in the preparation of the accompanying financial statements follows. # 1. Nature of Operations Black Oak Securities, Inc. (Company) began operations September 28, 1992, as a brokerdealer in securities. The Company does not receive directly or indirectly, or hold funds or securities for, or owe funds or securities to, customers and does not carry any accounts of, or for customers. The Company is exempt from provisions of Rule 15c3-3 of the Securities and Exchange Commission on the basis that it carries no margin accounts and does not otherwise hold funds or securities for customers. ## 2. Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers cash on hand, deposits with banks and certificates of deposits to be cash. ## 3. Commissions The Company contracts with mutual fund companies and insurers to offer access to shares and annuities of the entities to individual customers. The contracts with these entities provide for a single performance obligation. Commissions on first-time and recurring sales of shares and annuities are point-in-time transactions and revenue is recognized on the trade-date of the transaction. Commissions associated with the ongoing investment in the entities are earned and recognized on a quarterly basis. Commission expense to agents are recorded simultaneously with the recognition of the commission revenue. ## 4. Income Taxes As of June 30, 2025, the Company has recognized in the financial statements the effects of all tax positions and continually evaluates expiring statutes of limitations, audits, changes in tax law, and new authoritative rulings. The Company is not aware of any circumstances or events that make it reasonably possible that unrecognized tax benefits may increase or decrease within 12 months of the statement of financial condition date. Penalties and interest assessed by taxing authorities are included in the provision for income taxes, if applicable. {11}------------------------------------------------ # NOTES TO FINANCIAL ST ATEMENTS - CONTINUED ## June 30, 2025 # NOTE A - SUMMARY OF ACCO{JNTING POLICIES - Continued ## 5. Subsequent Events Management has evaluated subsequent events for recognition and disclosure in the financial statements through September 19, 2025, which is the date the financial statements were available to be issued. Through September 19, 2025, no subsequent events required recognition or disclosure in the financial statements. # 6. Useof 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 assumptionsthat affect the amounts reported in the financial statements and accompanying notes. Although these estimates are based on management's knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results. ## NOTE B - INCOME TAXES The components of the income tax provision for the year ended June 30, 2025, are as follows: | Current | | |---------|--------------| | Federal | \$
19,796 | | State | ,9281 | | | | | | | ## NOTE C - NET CAPIT AL REQUIREMENT As a broker-dealer, the Company is subject to the net capital requirements of the Securities and Exchange Commission. Those requirements prohibit a broker-dealer from engaging in any securities transaction at a time when: {12}------------------------------------------------ ## NOTES TO FINANCIAL ST ATEMENTS - CONTINUED # June 30, 2025 - a. Its aggregate indebtedness exceeds 15 times its net capital as those defined in Rule 15 c3-1, or - b. Its net capital is less than the minimum required. At June 30, 2025, the Company's net capital and required net capital were \$ 425,679 and \$ 5,000,respectively,anditsratioofaggregateindebtednesstonetcapitalwas0.10:lor8.46%. # NOTE D - RELATED-PARTY TRANSACTIONS The Company is related to Administrative Services, Inc. through common ownership and management. The financial activities of Administrative Services, Inc. are not included in the accompanying financial statements. Administrative Services, Inc. pays all common administrative expenses of the Company. Comi'non administrative expenses are set forth in a signed agreement between Administrative Services, Inc. and the Company. The Company makes payments to Administrative Services, Inc. throughout the year for its share of these expenses. Expenses to Administrative Sei'vices, Inc. totaled \$119,700 for the year ended June 30, 2025. {13}------------------------------------------------ SUPPLEMENTARY INFORMATION {14}------------------------------------------------ ### SCHEDULE 1 - NET CAPIT AL COMPUT ATION ### June 30, 2025 | Total
assets | | 463,310 | |------------------------------------------------------------------------------------------------------------------------------------|----|---------| | Total
liabilities | | 36,013 | | Ownership
equity | | 427,297 | | Less:
Non-liquid
assets
Haircut
on securities | | 1,618 | | Adjusted
net capital | | 425,679 | | Computation
of aggregate
indebtedness
Other
liabilities | | 36,013 | | Aggregate
indebtedness | | 36,013 | | Computation
of net
capital
requirement | | | | A
- Net
capital
requirement
(6-2/3%
of aggregate
indebtedness) | | 2,401 | | B - Minimum
net
capital
requirement | \$ | 5,000 | | Net
capital
requirement
(greater
of A
or B) | | 5,000 | | Excess
net capital | \$ | 420,679 | | Net
capital
less greater
of 10%
of aggregate
indebtedness
or
120%
of minimum
net capital
requirement | \$ | 419,679 | | Ratio
of aggregate
indebtedness
to net
capital | | 0.10:1 | There are no significant differences between the computation above and the computation filed with the June 30, 2025 Focus IIA. {15}------------------------------------------------ ![](_page_15_Picture_0.jpeg) Exemption Report and Report oflndependent Registered Public Accounting Firm June 30, 2025 liebcpa.com {16}------------------------------------------------ ![](_page_16_Picture_0.jpeg) kerber, Eck & Braecliel LLP 3200 Robbins Road Suite 200A Springfield, IL 62704 P 217.789.0960 F 217.789.2822 ### Report of Independent Registered Public Accounting Firm To the Board of Directors and Stockholder of Black Oak Securities, Inc. We have reviewed management's statements, included in the accompanying Exemption Report, in which (1) Black Oak Securities, Inc. identified the following provisions of 17 C.F.R.'s 15c3-3(k) under which Black Oak Securities, Inc. claimed an exemption from 17 C.F.R. Ei240.l5c3-3: (1) (the "exemption provisions") and (2) Black Oak Securities, Inc. stated that Black Oak Securities, Inc. met the identified exemption provisions throughout the most recent fiscal year without exception. Black Oak Securities, Inc.'s management is responsible for compliance with the exemption provisions 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 Black Oak Securities, 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 on the provisions set forth in paragraph (k)(l) of Rule 15c3-3 under the Securities Exchange Act of 1934. + &770 Carroll st., Suite C Pawnee, IL 62558 Telephone: 217-498-7876 SECRegistrationNumber: 8-45219 FmRA Registration Number: 30889 The Customer Protection Rule outlines three types of exemptions, ail limiting the degree of interaction that a broker-dealer may have with customer assets. Althorigh the exemptions may allow a brolcer-dealer to receive customer monies and securities, they all require the broker-dealer to promptly transinit such monies and securities that it may receive to third parties such as clearing broker-dealers, 1. Black Oak Securities, Inc. is exempt from 15c3-3 because it meets the conditions set forth in paragraph (k) of Rule 15c3-3, The apphcable exemption being used is: (k)(l) Exempaon - Provided to broker-dealers that limit their activities (both prirxtpal and agent)to trarisactionsin certairgredeemablesecuritiesof registeredinvestment companies(mutualftmds) or insuranceproducts. Underthis exemption,the broker- dealer may briefly harxdlecustomerfunds and/or securities,but mustpromptly trarismit suchfunds andsecurittes received'mconnectionwith its broker or dealer activities. Additionally, customers. it cannot holdfuris Of"securitiesfor, or owemoneyorsecurities to, 2. Black Oak Securities, Inc. has met the exemption under 15c3-3(k)(1) throughout most the recent fiscal year without exception. 3. There have been no exceptions, therefore, there are none to identify. I, the undersigned, hereby attest that all statements are current, correct and accurate to the best ofmy knowledge. Title: ! M:/data/client/bos/exemption-report063025 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.