# MILESTONE INVESTMENTS, INC. X-17A-5 (2026-04-10) — Broker-dealer annual report - Company: MILESTONE INVESTMENTS, INC. - Form: X-17A-5 - Filed: 2026-04-10 - Period: 2025-12-31 - Accession: 0001082960-26-000001 - CIK: 1082960 - File #: 8-51664 - Type: Broker-dealer - Material weakness: No - Auditor: Ohab and Company, PA - Auditor location: Maitland, FL - Contact: Fredrick W Fisher - Phone: 7047162749 - Signed by: Fredrick W Fisher (President & CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1082960/000108296026000001/2025Public1.pdf --- {0}------------------------------------------------ | | UNITED STATES | | 0MB APPROVAL | | | | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------|--------------------------------------------|------------------------------------------------------------------------------------------------------------------------|--|--|--| | | 0MB Number: 3235-0123 | | | | | | | SECURITIES AND EXCHANGE COMMISSION
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12 | | | | | ANNUAL REPORTS | | | SEC FILE NUMBER | | | | | | FORM X-17A-5 | | 8-51664 | | | | | | PART Ill | | | | | | | | | | | | | | | Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | FACING PAGE | | | | | | | | FILING FOR THE PERIOD BEGINNING 0 1/01 /25
AND ENDING 12131125 | | | | | | | | MM/DD/YY | MM/DD/YY | | | | | | | A.
REGISTRANT IDENTIFICATION | | | | | | | | | | | | | | | OF
NAME | FIRM: MILESTONE INVESTMENTS, INC. | | | | | | | TYPE OF REGISTRANT (check all applicable boxes):
□ Security-based swap dealer
□
[!] Broker-dealer
Major security-based swap participant
□
Check here if respondent is also an OTC derivatives dealer | | | | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | | | | | | | | | | | | 10700 SIKES PLACE, SUITE 315 | | | | | | | | | (No. and Street) | | | | | | | CHARLOTTE | NC | | 28277 | | | | | (City) | (State) | | (Zip Code) | | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | | | FREDRICK W. FISHER 704-716-2749 | | | | | | | (Name) | (Area Code-Telephone Number) | FFISHER@MSTONE401 K.COM
(Email Address) | | | | | | | | | | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | | | | | | OHAB AND COMPANY, PA | | | | | | | | | (Name -if individual, state last, first, and middle name) | | | | | | | 100 E SYBELIA AVENUE, SUITE 130 MAITLAND | | FL | 32751 | | | | | (Address) | (City) | (State) | (Zip Code) | | | | | JULY 28, 2004 | | 1839 | | | | | | te of Registration with PCAO0)lif applicable) | | | | | | | | | (PCA06 Registration Number, if applicable)
FOR OFFICIAL USE ONLY | | | | | | | r | | | I | | | | | * 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-5(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.** {1}------------------------------------------------ #### OATH OR AFFIRMATION | FREDRICK W. FISHER | , swear (or affirm) that, to the best of my knowledge and belief, the | | |------------------------------------------------------------------------|---------------------------------------------------------------------------------------------|-------| | financial report pertaining to the firm of MILESTONE INVESTMENTS, INC. | | as of | | 12/31 | 2 025 . ic true and correct . I furthar avear lar affirm ! that naithor the company mor any | | rue and correct. I further swear (or affirm) that neither the company nor any partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely as that of a customer. Signature: Title: PRESIDENT & CEO #### This filing \*\* contains (check all applicable boxes): - (a) Statement of financial condition. - @ (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. - □ (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-1, as applicable. - [ (i) Computation of tangible net worth under 17 CFR 240.18a-2. - [ [j] Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - [ (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - [ (I) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. - [ (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - □ (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable. - [0] Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist - [p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - | (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. - [r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - [ (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - (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 statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - [ {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. - | (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as applicable. - [ (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). - O (z) Other: - \*\* To request confidential treatment of certain portions of this filing, see 17 CFR 240.170-5(e)(3) or 17 CFR 240.180-7(d)(2), as applicable. {2}------------------------------------------------ Financial Statements and Supplemental Information for the Year Ended December 31, 2025 and Report of Independent Registered Public Accounting Firm {3}------------------------------------------------ ![](_page_3_Picture_0.jpeg) 100 E. Sybelia Ave. Suite 130 Mailland, F1. 32751 Certified Public Accountants Email: painta chabeo.com Telephone 407-740-7311 Fax 407-740-6441 # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Stockholder of Milestone Investments, Inc. ### Opinion on the Financial Statement We have audited the accompanying statement of financial condition of Milestone Investments, Inc. as of finence 11, 2025, and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of Milestone Investments, Inc. as of December 31, 2025 in conformity with accounting principles generally accepted in the United States f America. #### Basis for Opinion This financial statement is the responsibility of Milestone Investment. Our responsibility is to express an opinion on Milestone Investments, Inc.'s financial statement based on our audit. We applic accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to Milestone Investments, 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 statement is 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 statement, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial 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 inancial statements. We believe that our audit provides a reasonable basis for our opinion. Ohar and Company , We have served as Milestone Investments, Inc.'s auditor since 2016 Maitland, Florida April 10, 2026 {4}------------------------------------------------ # STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2025 ### ASSETS | CURRENT ASSETS: | | | |--------------------------------------------------|-----|---------| | Cash and cash equivalents | કે | 11,915 | | Receivables from other broker-dealers | | 212,773 | | Total assets | | 224,689 | | | | | | FIXED ASSETS: | | 0 | | TOTAL ASSETS | | 224,689 | | LIABILITIES AND STOCKHOLDER'S EQUITY | | | | CURRENT LIABILITIES: | | | | Accounts payable | | 80 | | Credit Cards | | 1,694 | | Total liabilities | | 1,774 | | STOCKHOLDER'S EQUITY: | | | | Common stock, no par; 100,000 shares authorized; | | | | 700 shares issued and outstanding | | 12,701 | | Retained earnings | | 210,213 | | Total stockholder's equity | | 22,914 | | TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY | િતે | 224,689 | See notes to financial statements. {5}------------------------------------------------ #### NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2025 ## 1. SUMMARY OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES Qperations - Milestone Investments, Inc. (the "Company") is a North Carolina Corporation. The Company is a broker-dealer registered with the Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory (FINRA). It provides mutual fund and variable annuity investment products to predominately small and medium size employers in the southeastern and mid-western areas of the United States that sponsor qualified retirement plans and to individuals who are eligible for distributions from such plans. In addition, it can provide investment advisory services to employers sponsoring qualified retirement plans. The Company is a limited broker-dealer and does not receive funds for investment nor does it hold securities for customers. Rather, all customer funds are delivered to, and securities are held with, either a mutual fund company broker-dealer or a variable annuity company brokerdealer. The Company is engaged in a single line of business as a securities broker-dealer, which is comprised of one class of service, which is investment advisory. Use of Accounting Estimates - The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities and disclosures. Accordingly, the actual amounts could differ from those estimates. Any adjustments applied to estimated amounts are recognized in the year in which such adjustments are determined. Cash and Cash Equivalents - The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. The Company maintains cash deposits with financial institutions which may exceed federally insured limits at various times throughout the year. Receivables From Other Broker-Dealers - Receivables from other broker-dealers represent commissions due for mutual fund and group and individual variable annuity investment transactions. No allowance has been provided on these receivables because management believes all amounts are collectible. At December 31, 2025, receivables from three other broker-dealers represent approximately 79% of total receivables. Property - Property is recorded at cost. Depreciation is provided using the straight-line method over the estimated useful lives of the assets. Income Taxes - Under the provisions of the Internal Revenue Code, the Company has elected to be taxed as a subchapter "S" corporation. Under such election, the Company's taxable income and tax credits are passed through to its stockholders for inclusion in their individual income tax returns. The Company records liabilities for income tax positions taken or expected to be taken when those positions are deemed uncertain to be upheld in an examination by taxing authorities. As of December 31, 2025, the tax years ended December 31, 2020 through 2025 were open for potential examination by taxing authorities. No liabilities for uncertain income tax positions were recorded as of December 31, 2025. #### Revenue Recognition #### Commissions Commissions due from the sale of mutual funds and variable annuities are determined by applying a commission rate, which is determined by the mutual fund company or insurance company, to the face amount of the mutual fund or variable annuity sold, on the trade date. The Company believes that the performance obligation is satisfied on the trade date because that is when the underlying financial instrument or purchaser is identified, the pricing is agreed upon and the risks and rewards of ownership have been transferred to the customer. A liability to the Company's representatives for commissions payable related to those policies, if any, is recognition of the revenue from these policies. 6 {6}------------------------------------------------ #### NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2025 #### Distribution Fees The Company enters into arrangements with managed accounts or other pooled investment vehicles (funds) to distribute shares to investors. The Company may receive distribution fees paid by the fund up front, over time, upon the investor's exit from the fund (that is, a contingent deferred sales charge), or as a combination thereof. The Company believes that its performance obligation is the sale of securities to investors and as such this is fulfilled on the trade date. Any fixed amounts are recognized on the trade date and variable amounts are recognized to the extent it is probable that a significant revenue reversal will not occur once the uncertainty is resolved. For variable amounts, as the uncertainty is dependent on the value of the shares at future points in time as well as the length of time the investor remains in the influence, the Company does not believe that it can overcome this constraint until the market value of the fund and the investor activities are known, which are usually monthly or quarterly. Distributions fees recognized in the current period are primarily related to performance obligations that have been satisfied in prior periods. #### Investment Advisory Fees The Company provides investment advisory services on a daily basis. The Company believes the performance obligation for providing advisory services is satisfied over time because the customer is receiving and consuming the benefits as they are provided by the Company. Fee arrangements are based on a percentage applied to the customer's assets under management. Fees are received quarterly and are recognized as revenue at that time as they relate specifically to the services provided in that period, which are distinct from the services provided in other periods. #### Credit Losses The Company follows ASC Topic 326, Financial Instruments - Credit Losses ("ASC 326"). ASC 326 impacts the impairment model for certain financial assets by requiring a current expected credit loss ("CECL") methodology to estimate expected credit losses over the of the financial asset. Under the accounting update, the Company has the ability to determine that there are no expected credit losses in certain circumstances (e.g., based on the credit quality of the customer). The Company had accounts receivable as of December 31, 2024 and 2025 of \$197,645 and \$212,773 respectively. The Company deems all accounts receivable and therefore an allowance Is not necessary. Subsequent Events - In preparing its financial statements. the Company has evaluated subsequent events through April 10, 2026, which is the date the financial statements were available to be issued, has determined that there are no events requiring disclosure. #### 2. RESERVE REQUIREMENTS The Company is not obligated to report under SEC Rule 15c3-3 since, as a limited broker-dealer, its transactions are limited to the sale and redemption of redeemable securities of registered investment companies or of interests or participations in insurance company separate or general accounts. In addition, the Company transmits all funds and delivers all securities received in connection with its activities as a broker-dealer and does not otherwise hold funds or securities for, or owe money or securities to, customers. As such, the Company meets the provisions of footnote 74 of SEC Release No. 34-70073 adopting amendments to 17-C.F.R. § 240.17a-5. Therefore, the Company does not have a reserve requirement nor does it have any information relating to the possession or control requirement under Rule 15c3-3. {7}------------------------------------------------ ### NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2025 #### 3. NET CAPITAL REQUIREMENTS The Company is subject to the Securities and Exchange Commission 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, 2025, the Company had net capital of \$10,141 which was \$5,141 in excess of its required net capital of \$5,000. The ratio of aggregate indebtedness to net capital was .17 to 1.00 at December 31, 2025. #### 4. SIPC MEMBERSHIP EXCLUSION The Company has claimed exclusion from SIPC membership for the year ended December 31, 2025 under Section 78cc(2)(A)ii of the Securities Investor Protection Act of 1970. #### 5. OCCUPANCY LEASE In February 2016, the FASB Issued ASU 2016-02 Leases - (Topic842). ASU 2016-02 will require the recognition of lease assets and lease liabilities on the balance sheet related to the rights and obligations created by lease agreements, including for those leases classified as operating leases under previous GAAP, along with disclosure of key information about leasing arrangements. The Company has elected not to apply the recognition requirements of Topic 842 relating to its office lease and instead has elected to recognize the lease payments as lease costs on a straight-line basis over the lease cost is \$19,020 relating to the office lease for the year ended December 31, 2025. The Company leases office space under an operating lease that expires on January 31, 2026. Rent expense was \$19,020 for the year ended December 31, 2025, and is reported in the occupancy and equipment expenses in the Statement of Operations. #### 6. SEGMENT REPORTING The Company is engaged in a single line of business as a securities broker-dealer, which is comprised of two classes of service, which are agency transactions and investment advisory. The Company has identified its President as the chief operating decision maker ("CODM"), who uses net income to evaluate the results of the business, predominantly in the forecasting process, to manage the Company. Additionally, the CODM uses excess capital (see Note 3), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to reinvest profits or pay dividends. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the of the Company as a whole. 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. #### COMMITMENTS AND CONTINGENCIES 7. The Company does not have any commitments and contingencies. {8}------------------------------------------------ ### SCHEDULE I # COMPUTATION OF NET CAPITAL UNDER RULE 15c3-1 OF THE SECURITIES AND EXCHANGE COMMISSION | Total Ownership Equity from Statement of Financial Condition | ಕ್ಕಾ | 222,914 | |----------------------------------------------------------------------------------------------------------------|-------|-----------| | Deductions and/or Charges:
Total non-allowable assets from Statement of Financial Condition | | (212,773) | | Net Capital | | 10,141 | | COMPUTATION OF BASIC NET CAPITAL REQUIREMENTS | | | | Minimum Net Capital Required (6-2/3% of Aggregate Indebtedness) | S | 118 | | Minimum dollar net capital requirement of reporting broker or dealer | | 5,000 | | Net Capital Requirement | | 5,000 | | Excess Net Capital | ಲ್ಲೊ | 5,141 | | Net Capital less greater of 10% of Aggregate Indebtedness or 120%
of Minimum Dollar Net Capital Requirement | 6 | 4,141 | | COMPUTATION OF AGGREGATE INDEBTEDNESS | | | | Total Liabilities from Statement of Financial Condition | સ્ત્ર | 1,774 | | Total Aggregate Indebtedness | | 1,774 | | Percentage of Aggregate Indebtedness to Net Capital | | 17.49% | There are no material differences between the preceeding computation and the Company's corresponding unaudited Part II A of Form X-17 A-5 as of December 31, 2025 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.