# AMD CAPITAL, LLC X-17A-5 (2026-02-25) — Broker-dealer annual report - Company: AMD CAPITAL, LLC - Form: X-17A-5 - Filed: 2026-02-25 - Period: 2025-12-31 - Accession: 0001175989-26-000006 - CIK: 1175989 - File #: 8-65422 - Type: Broker-dealer - Material weakness: No - Auditor: Demarco, Sciaccotta, Wilkins & Dunleavy, LLC - Auditor location: Frankfort, IL - Contact: Robin Armour - Phone: 3129617237 - Email: robin@amdcapital.com - Website: amdcapital.com - Signed by: Robin Armour (Principal) Original filing: https://www.sec.gov/Archives/edgar/data/1175989/000117598926000006/amdcapitalsfc_1.pdf --- {0}------------------------------------------------ # **AMD Capital, LLC** # **Financial Statements And Supplemental Information** **(with Independent Auditors' Report)** **December 31, 2025** # **PUBLIC** {1}------------------------------------------------ **UNITED STATES** SECURmEs AND EXCHANGE COMMISSION **Washlnpon,** D.C. **20549** 0MB APPROVAL 0MB Number. 3235-0123 Expires: Nov. 30, 2026 Estimated **average** burden hours per response: 12 > SEC FILE NUMBER 8-65422 ## **ANNUAL REPORTS FORM X-17A-S PART** Ill **FACING PAGE** **Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchanp Act of 1934** f\UNG FOR THE PERIOD BEGINNING **Q 1 /01 /2025** ANO ENDING **12/31 /2025** MM/DD/VY **MM/00/YY** **A. REGISTRANT IDENTIFICATION** # NAME oF FIRM: AMO Capital, LLC lYPE OF REGISTRANT (check all applicable boxes): ~ Broker-dealer O Security-based swap dealer D 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 .0. box no.) ## 2907 W. Wilson Ave | (No. and Street) | | | | |-------------------------------------------------------------------------|---------------------------------------------------------------------------|----------------------|--| | Chicago | IL | 60625 | | | (City) | (State) | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | Armour
Robin | 312-961-7237 | robin@amdcapital.com | | | (Name) | (Area Code -Telephone Number) | (Email Address) | | | 8. ACCOUNTANT IDENTIFICATION | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing• | | | | | | | | | Wilkens
Dunleavy
Sciaccotta
Demarco
LLP
&
,
,
, | | | | | 20646 Abbey Woods Ct, N, Suite 201 | (Name - if individual, state last, first, and middle name)
Frankfort | IL | 60423 | |--------------------------------------------------|-------------------------------------------------------------------------|---------|-------------------------------------------| | (Address) | (City) | (State) | (Zip Code) | | 12/21/10 | | 5376 | | | (Date of Re ·stration with PCAOB if a
licable | | | PCAOB Re istration Number, if a plicable) | | | FOR OFFICIAL USE ONLY | | | • Oaims 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 relled on as the basis of the exemption. See 17 CFR 240.17a-5(e)(l)(ii), If applicable. Persons who are to r-,ond to the collection of Information contained In this form are not required to respond unless the form dlspl•Y' • currendy valid OMI control number. {2}------------------------------------------------ #### OATH OR AFFIRMATION | Robin Armour | swear (or affirm) that, to the best of my knowledge and belief, the | | |-------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------|-------| | tinancial report pertaining to the firm of AMD Capital, LLC | | as of | | february | 1) 4 , 2 02 is true and correct. I further swear (or affirm) that neither the company nor any | | | | partner, officer, dirèctor, or equivalent person, as the case may be, has any proprietary interest in any account classified solely | | | as that of a customer. | | | ![](_page_2_Picture_2.jpeg) | Signatures | | |---------------------|--| | Title:
Principal | | Notary Public #### 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. - [] 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. - [1] 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. - □ (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-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 report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - O (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 240.17a-12, as applicable. - [ (y) Report describing any material inadequacies 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). - [ (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. {3}------------------------------------------------ #### CALIFORNIA ACKNOWLEDGMENT #### CIVIL CODE § 1189 68886666 Anaoqaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document A notaly public of other onleer comploan got the truthfulness, accuracy, or validity of that document. | State of California | | | |-----------------------------------------|-----------------------------------------------------------------------------------------------------|--| | County of for VG & SiDe | | | | on nes 24 2026
Date | NO. ARI, DEBLI -
_ before me, MICHARD J HOLD WALL
· Here Insert Name and Title of the Officer | | | personally appeared No310 Hiller ARMOUR | | | | | Name(s) of Signer(s) | | who proved to me on the basis of satisfactory evidence to be the personts) whose name(s) is/are subscribed who proved to the on the busis of succeded to me that hels were in his/her/their to the within instrument and acknowledged their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. ![](_page_3_Picture_6.jpeg) I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. | | Signature | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | Place Notary Seal and/or Stamp Above | Signature of Notary Public | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | | | Completing this information can deter alteration of the document or
fraudulent reattachment of this form to an unintended document. | | Description of Attached Document | | | Title or Type of Document: ___________________________________________________________________________________________________________________________________________________ | | | Document Date: _______________________________________________________________________________________________________________________________________________________________ | | | Signer(s) Other Than Named Above: | | | Capacity(ies) Claimed by Signer(s) | | | Signer's Name: _______________________________________________________________________________________________________________________________________________________________ | Signer's Name: _______________________________________________________________________________________________________________________________________________________________ | | Corporate Officer - Title(s): ________________________________________________________________________________________________________________________________________________ | D Corporate Officer - Title(s): ______________________________________________________________________________________________________________________________________________ | | D Partner - D Limited O General | Partner - D Limited O General | | Attorney in Fact
Individual | D Attorney in Fact
o Individual
Guardian or Conservator
O Trustee | | Guardian or Conservator
Trustee | O Other: | | O Other:
Signer is Representing: ______________________________________________________________________________________________________________________________________________________ | Signer is Representing: ______________________________________________________________________________________________________________________________________________________ | | | | 14 69964 1 1 1 1 16 163 113916 1996 1999 1999 1999 1999 1999 11 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 C2019 National Notary Association {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Members of AMD Capital LLC #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of AMD Capital LLC (the "Company") as of December 31, 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 AMD Capital LLC as of December 31, 2025 in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statement 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 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 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 financial statements. We believe that our audit provides a reasonable basis for our opinion. #### **Prior Period Adjustment** As discussed in Note 3 to the financial statements, the Company identified an error related to the prior year which certain accounts receivable and related revenue were not recorded due to a billing cutoff oversight. The prior period adjustment increases beginning equity and accounts receivable by \$3,161,761. Our opinion is not modified with respect to that matter We have served as AMD Capital LLC's auditor since 2025. Frankfort, Illinois February 18, 2026 {5}------------------------------------------------ # **AMD Capital, LLC Statement of Financial Condition As of December 31, 2025** | ASSETS | | | |--------------------------------|----|-----------| | CURRENT ASSETS | | | | Cash & Cash Equivalents | \$ | 72,966 | | Accounts Receivable | S | 2,804,567 | | | | | | Total Current Assets | S | 2,877,533 | | | | | | PROPERTY AND EQUIPMENT | | | | Office Equipment | S | 105,867 | | Less: Accumulated Depreciation | S | (94,292) | | Net Property and Equipment | S | 11,575 | | | | | | TOTAL ASSETS | \$ | 2,889,108 | | | | | | CURRENT LIABILITIES | | | |------------------------------------|---|-----------| | Accounts Payable | S | 21,687 | | Accrued Expenses | S | 5,972 | | Total Current Liabilities | 5 | 27,659 | | | | | | | | | | MEMBERS EQUITY | S | 2,861,449 | | | | | | TOTAL LIABILITIES AND MEMBERS I \$ | | 2,889,108 | {6}------------------------------------------------ #### **1. Nature of Business** AMD Capital, LLC (The Company) is in the business of asset management distribution services. The Company was formed March 1, 2002 and will continue operations perpetually unless terminated in accordance with the operating agreement. The Company is registered as a broker dealer with FINRA, the SEC, the MSRB and SIPC. #### **2. Summary of Significant Accounting Policies** #### **Basis of Accounting** The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP"). #### **Cash and equivalents** The Company considers all highly liquid investments with a maturity of three months or less to be cash equivalents. #### **Use of Estimates** The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from these estimates. ## **Property and Equipment** Property and Equipment are stated at cost. Depreciation is computed using the straight line method over the estimated useful lives of the related assets. The cost of repairs and maintenance is expensed as incurred. Depreciation expense was \$1,900 for the year ended December 31, 2025. #### **Income Taxes** The Company has elected to be taxed as a partnership under the Internal Revenue Code. Under those provisions, the Company does not pay federal income taxes, instead, the limited liability members include their respective shares of the Company's income in their individual income tax returns. The Company files income taxes in the U.S. federal jurisdiction and various state jurisdictions on a cash basis. The Company is no longer subject to the U.S. federal income tax examinations by tax authorities for years before 2019. {7}------------------------------------------------ The Company has elected to remit the Illinois Pass-Through Entity tax on behalf of its members. This election allows the company to remit the individual members income tax liability based on their respective share of the company's annual income. The company remitted \$520,368 of Illinois Pass Through Entity tax for the 2025 tax year which is reported as State Tax on the statement of income. #### **Revenue Recognition** The Company utilizes a five-step model to (a) identify the contracts with a Client Firm, (b) identify the performance obligations in the contract, (c) determine the transaction price, (d) allocate the transaction price to the performance obligations in the contract, and (e) recognize revenue when (or as) performance obligations are satisfied. The Company provides asset management distribution services for its Client Firms. The Company completes its performance obligation when the Client Firm secures an investor account with a legal contract and account funding. The Company has no additional performance obligations. Revenue is recognized over time for asset management arrangements in which the performance obligations are simultaneously provided and benefits are received by the investor. In some circumstances, significant judgment is needed to determine the timing and measure of progress appropriate for revenue recognition under a specific contract. The Company does not offer any guarantee, warranty or refunds on revenue. #### **Accounts Receivable** Accounts receivable represents amounts due from customers for commission revenue. The Company evaluates the collectability of its receivables based on historical experience, the credit quality of its customers, the age of outstanding balances, and specific facts and circumstances on an individual-customer basis. Management determined that all accounts receivable were fully collectible as of December 31, 2025; accordingly, no allowance for doubtful accounts has been recorded. {8}------------------------------------------------ ## **3. Prior Period Adjustment** During the current fiscal year, the Company identified an error related to a prior year in which certain accounts receivable and related revenue were not recorded due to a billing cutoff oversight. The omission resulted in an understatement of members equity in the prior period. Because the Company presents single-year financial statements, the correction has been reflected as an adjustment to the opening balance of members equity for the current year, in accordance with ASC 250, Accounting Changes and Error Corrections. The adjustment increases beginning members equity by \$3,161,761. This correction had no impact on the current-year net income and did not affect cash flows. #### **4. Occupancy** The Company leases office space from the Members on a month to month basis at \$1,500 per month. ## **5. Net Capital Requirements** The Company is subject to the Security and Exchange Commission Uniform Net Capital Rule (Rule 15c3-1). Under this rule, the Company is required to maintain net capital equivalent of \$5,000 or 6-2/3 percent of aggregate indebtedness, whichever is greater. At December 31, 2025, the Company has Net Capital of \$45,307. The Company's minimum Net Capital is \$5,000 and thus has \$40,307 Excess Net Capital as of December 31, 2025. ## **6. Major Customers** At December 31, 2025, there were two customers that accounted for 52% and 25%, respectively. During 2025, two customers accounted for 61% and 30% of total revenue, respectively. ## **7. Concentration of Credit Risk** The Company maintains cash balances at a Chicago financial institution. The account is insured by the Federal Deposit Insurance Corporation. At December 31, 2025, the entire balance of \$72,996 was insured. {9}------------------------------------------------ ## **8. Retirement Plans** During 2006, the Company formed two retirement plans, a cash balance profit sharing plan and a 401(k) plan. Contributions to the cash balance profit sharing plan are based on the annual earnings of the Company's members and employees, subject to maximum earnings amount determined by the Internal Revenue Code. Contributions to the 401(k) plan include participant deferrals and a discretionary company contribution. There were contributions of \$139,500 in discretionary contributions for 2025. ## **9. Single Line of Business** The Company is engaged in a single line of business as a securities broker-dealer, which is comprised of asset management distribution services. The Company has identified Robin Armour, Principal, as the chief operating decision making ("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 net capital (see Note 5), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to reinvest or distribute profits. 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 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 policies. #### **10. Subsequent Events** The Company has evaluated subsequent events through February 18, 2026 which was the date the financial statements were available to be issues for potential recognition or disclosure through the date the financial statements were issued, noting none. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.