Full text of AXCELUS FINANCIAL DISTRIBUTION COMPANY's X-17A-5 filed 2026-06-25 (period 2025-12-31). Broker-dealer annual report from SEC EDGAR — readable, searchable, and available as markdown for AI agents.
{0}------------------------------------------------ # **Statement pursuant to SEC Rule 17a-5(e)(1)(ii)** Statement of the facts and circumstances relied upon as a basis for exemption from the requirement that the annual report filed under Rule 17a-5(d) be covered by reports prepared by an independent public accountant. # December 31, 2025 Axcelus Financial Distribution Company claims an exemption from the requirement that the annual report filed under Rule 17a-5(d) be covered by reports prepared by an independent public accountant under Rule 17a-5(e)(1)(i)(A) (the "single issuer exemption") having its securities business limited to acting solely as a broker for a single issuer, Axcelus Financial Life Insurance Company. {1}------------------------------------------------ #### Statement of Financial Condition December 31, 2025 #### Assets | Cash | \lt;br>536,240 | |-----------------------------------------------------------------------------------------|---------------| | Prepaid expenses | 22,907 | | Current income taxes receivable | 4,432 | | Total assets | \lt;br>563,579 | | Liabilities and Shareholders' Equity | | | Liabilities: | | | Total liabilities | - | | Shareholders' equity: | | | Class A common stock, \$.01 par value; 1,000 shares authorized, issued, and outstanding | 10 | | Class B common stock, \$.01 par value; 2,400 shares authorized, issued, and outstanding | 24 | | Additional paid-in capital | 264,341 | | Retained earnings | 299,204 | | Total shareholders' equity | 563,579 | | Total liabilities and shareholders' equity | \lt;br>563,579 | | | | See accompanying notes to financial statements. {2}------------------------------------------------ #### Notes to Financial Statements December 31, 2025 ## **(1) Nature of Business and Summary of Significant Accounting Policies** #### *(a) Description of Business* Axcelus Financial Distribution Company (AFDC or the Company) is a Delaware company organized on January 26, 1995 and licensed as a securities broker/dealer on January 18, 1996. The Company is a member of the Financial Industry Regulatory Authority (FINRA) and is registered with the Securities and Exchange Commission (SEC). The Company serves as the principal underwriter for variable life insurance policies and variable annuity contracts issued by Axcelus Financial Life Insurance Company (AFLIC), an affiliate. The revenues of the Company earned from AFLIC are concession income and administrative fees. For operational purposes, AFLIC pays the comm…Read the full text as markdown