# GLENDALE SECURITIES, INC. X-17A-5 (2026-03-31) — Broker-dealer annual report
- Company: GLENDALE SECURITIES, INC.
- Form: X-17A-5
- Filed: 2026-03-31
- Period: 2025-12-31
- Accession: 0001198404-26-000004
- CIK: 1198404
- File #: 8-65604
- Type: Broker-dealer
- Material weakness: No
- Auditor: DCPA
- Auditor location: CENTURY CITY, CA
- Contact: ERIC FLESCHE
- Phone: 818-907-1505
- Email: eflesche@glendalesecurities.com
- Website: glendalesecurities.com
- Signed by: PAUL ERIC FLESCHE (CFO)
Original filing: https://www.sec.gov/Archives/edgar/data/1198404/000119840426000004/audit2025.pdf
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Glendale Securities, Inc. Report Pursuant to Rule 17a-5 (d) Financial Statements For the Year Ended December 31, 202
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OMB APPROVAL UNITED STATES OMB Number: 3235-0123 SECURITIES AND EXCHANGE COMMISSION Expires: Nov. 30, 2026 Washington, D.C. 20549 Estimated average burden hours per response: 12 ANNUAL REPORTS SEC FILE NUMBER FORM X-17A-5 8-65604 PART III FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 and ending 12/31/25 filing for the period beginning \_01/01/25 MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION NAME OF FIRM: GLENDALE SECURITIES, INC. TYPE OF REGISTRANT (check all applicable boxes): 1 Broker-dealer O Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) 15233 VENTURA BLVD., SUITE 712 (No. and Street) SHERMAN OAKS 91403 CA (City) (State) (Zip Code) PERSON TO CONTACT WITH REGARD TO THIS FILING Paul E. Flesche 818-907-1505 eflesche@glendalesecurities.com (Name) (Area Code - Telephone Number) (Email Address) B. ACCOUNTANT IDENTIFICATION INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* DCPA (Name - if individual, state last, first, and middle name) 2121 Avenue of the Stars #800 Century City California 90067 (Address) (City) (State) (Zip Code) 9/15/2020 6567 (Date of Registration with PCAOB)(if applicable) (PCAOB Registration Number, if applicable) FOR OFFICIAL USE ONLY \* Claims for exemption from the requirement that the annual 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)(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.
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#### OATH OR AFFIRMATION
| E. Flesche | , swear (or affirm) that, to the best of my knowledge and belief, the |
|----------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------|
| tinancial report pertaining to the firm of GLENDALE SECURITIES, INC. | as of |
| 12/31 | , 2 025 |
| | partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any accolunt classified solely |
| as that of a customer. | |
| | Signature: |
| Signature: | | | |
|------------|--|--|--|
| Title: | | | |
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.
-
- □ (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.
- [ (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.
- O (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-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.
- Q (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-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.
- | CFR 240.18a-7, as applicable.
- | (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.17-12, 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: SIPC Report
\*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(2), as applicable.
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DCPA
## 2121 AVE OF THE STARS #800 424-253-1212 CENTURY CITY, CA 90067 AUDIT@DCPAPRO.COM REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To The Board of Directors and the Stockholders of Glendale Securities, Inc.:
#### Opinion on the Financial Statements
We have audited the accompanying statement of financial condition of Glendale Securities, Inc. (the "Company") as of December 31, 2025, the related statements of income, changes in stockholders 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 the Company as of December 31, 2025, and the results of its operations and its cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States. 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 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
#### Basis for Opinion
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. The information contained in Schedules I, II and III ) has been subjected to audit Information is the responsibility of the Company management. Our audit procedures included determining
#### Supplemental Information
procedures performed in conjunction with the audit of the 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, including its form and content is presented in conformity with 17 C.F.R. § 240.17a-5. In our opinion, Schedules I, II and III are fairly stated, in all material respects, in relation to the financial statements taken as a whole. March 30, 2026
DCPA We have served as the Company's auditor since 2022. Century City, California
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#### Glendale Securities, Inc. Statement of Financial Condition December 31, 2025
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| Total Assets | | |
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| Liabilities | |
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The accompanying notes are an integral part of these financial statements.
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#### Glendale Securities, Inc. Statement of Income For the Year Ended December 31, 2025
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| Net Income | |
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#### Glendale Securities, Inc. Statement of Changes in Equity For the Year Ended December 31, 2025
| Common
Stock
Shares | Common
Stock | Paid In
Capital | Retained
Earnings | Total |
|---------------------------|-----------------|--------------------|----------------------|-------|
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#### Glendale Securities, Inc. Statement of Cash Flows For the Year Ended December 31, 2025
#### Cash Flows from Operating Activities:
| Supplemental Disclosure of Cash Flow Information | |
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The accompanying notes are an integral part of these financial statements.
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#### Glendale Securities, Inc. Notes to Financial Statements December 31, 2025
#### Note 1 Organization and Nature of Business
#### Note 2 Significant Accounting Policies
Basis of Presentation
Use of Estimates
Commissions
| Commissions | |
|-------------------|--|
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| Total Commissions | |
Securities Inventory
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#### Glendale Securities, Inc. Notes to Financial Statements December 31, 2025
#### Note 2 Significant Accounting Policies (continued)
Routing Rebates -
Services
Accounts Receivable
Clearing Brokers
Fixed Assets -
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#### Glendale Securities, Inc. Notes to Financial Statements December 31, 2025
#### Note 2 Significant Accounting Policies (continued)
Income Taxes
Investments in Ventures
#### Note 3 - Fair Value of Investments and Assets at Cost
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#### Glendale Securities, Inc. Notes to Financial Statements December 31, 2025
#### Note 3 - Fair Value of Investments and Assets at Cost (continued)
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#### Fair Value Measurements As of December 31, 2025
| | Level 1 | Level 2 | Level 3 | Total |
|--------|---------|--------------|-----------|--------------|
| Assets | | | | |
| Total | \$
- | \$ 1,980,328 | \$ 67,456 | \$ 2,047,784 |
### Fair Value Measurement of Level 3 Investments
| Beginning Balance at December 31, 2024 | |
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| Ending Balance at December 31, 2025 | |
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#### Glendale Securities, Inc. Notes to Financial Statements December 31, 2025
#### Note 4 Commissions and Fees Payable
#### Note 5 - Management Fees Payable
#### Note 6 Provision For Income Taxes
| | Federal | State | Local | Total |
|--|---------|-------|-------|-------|
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#### Note 7 Litigation
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#### Glendale Securities, Inc. Notes to Financial Statements December 31, 2025
Note 8 Net Capital Requirements
#### Note 9 Pension Plan
#### Note 10 Operating Lease
| Total undiscounted lease payments | \$ 97,640 |
|-----------------------------------|-----------|
| Less imputed interest | (328) |
| Total lease liability | \$ 97,312 |
#### Note 11 - Concentrations
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#### Glendale Securities, Inc. Notes to Financial Statements December 31, 2025
#### Note 12 Subsequent Events
#### Note 13 Segment Reporting
#### Note 14 Recently Issued Accounting Pronouncements
#### Note 15 - Dividends
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#### Glendale Securities, Inc. Schedule I Computation of Net Capital Pursuant to SEA Rule 15c3-1 December 31, 2025
| | Net Capital | \$
2,232,169 | |
|--|-------------|-----------------|--|
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#### Glendale Securities, Inc. Schedule II Computation for Determination of Reserve Requirements Pursuant to SEA Rule 15c3-3 As of December 31, 2025
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#### Glendale Securities, Inc. Schedule III Information Relating to Possession or Control Requirements under SEA Rule 15c3-3 As of December 31, 2025
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Glendale Securities, Inc. Report on Exemption Provisions Pursuant to Provisions of 17 C.F.R. § 15c3-3(k) For the Year Ended December 31, 202
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DCPA
# CENTURY CITY, CA 90067 AUDIT@DCPAPRO.COM REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To The Board of Directors and the Stockholders of Glendale Securities, Inc.: We have reviewed management's statements, included in the accompanying Exemption Report, in which (1) Glendale Securities, Inc. identified the following provisions of 17 C.F.R. § 15c3-3(k) under which Glendale Securities, Inc. claimed an exemption from 17 C.F.R. § 240.15c3-3: (k)(2)(ii) (the "exemption provisions"), (2) Glendale Securities, Inc. stated that Glendale Securities, Inc. met the identified exemption provisions throughout the year ended December 31, 2025 without exception, and (3) Glendale Securities, Inc. Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 - but limited to (1) advisory services for DTC Eligibility; and (2) direct sales of mutual funds and that the Company did not identify any exceptions to this assertion throughout the year ended December 31, 2025. Glendale Securities, Inc. provisions, and the provisions of Footnote 74, and its statements. of 1934 and the Non-Covered Firm provision.
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 Glendale 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)(2)(ii) of Rule 15c3-3 under the Securities Exchange Act
DCPA
Century City, California March 30, 2026
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#### Exemption Report For the Year Ended December 31, 2025
Glendale Securities, Inc. ("the Company"), is a registered broker-dealer subject to Rule 17a -5 promulgated by the Securities and Exchange Commission (17 C.F.R. Section 240.17a -5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R. Section 240.17a-5(d)(1) and (4). To the best of its knowledge and belief, the Company states the following:
- 1) The Company claimed an exemption from 17 C.F.R. § 240.15c3-3 under the following provisions of 17 C.F.R. § 240.15c3-3 (k) (2)(ii)
- 2) The Company met the identified exemption provisions in 17 C.F.R. §240.15c3-3 (k) throughout the most recent fiscal year without exception.
- 3) The Company is also filing this Exemption Report because the Company's other business activities contemplated by Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 are limited to (1) advisory services for DTC Eligibility; and (2) direct sales of mutual funds. The Company (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of Rule 15c2-4; (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 without exception.
Glendale Securities, Inc.
I, Paul E. Flesche, sweat (or affirm) that, to my best knowledge and belief, this Exemption Report is true and correct.
By:
Title: CFO
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Glendale Securities, Inc. Report on the SIPC Annual Assessment Pursuant to Rule 17a-5(e)4 For the Year Ended December 31, 2025
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DCPA
## 2121 AVE OF THE STARS #800 424-253-1212 CENTURY CITY, CA 90067 AUDIT@DCPAPRO.COM REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ON APPLYING AGREED-UPON PROCEDURES
To The Board of Directors and the Stockholders of Glendale Securities, Inc.: We have performed the procedures included in Rule 17a-5(e)(4) under the Securities Exchange Act of 1934 and in the Securities Investor Protection Corporation (SIPC) Series 600 Rules, which are enumerated below and were agreed to by Glendale Securities, Inc. and the SIPC, solely to assist you and SIPC in evaluating Glendale Securities, Inc. Reconciliation (Form SIPC-7) for the year ended December 31, 2025. Glendale Securities, Inc. is responsible for its Form SIPC-7 and for its compliance with those requirements. This agreed-upon procedures engagement was conducted in accordance with standards established by the Public Company Accounting Oversight Board (United States) and in accordance with attestation standards established by the American Institute of Certified Public Accountants. The sufficiency of these procedures is solely the responsibility of those parties specified in this report. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose. The procedures we performed, and our findings are as follows: 1) Compared the listed assessment payments in Form SIPC-7 with respective cash disbursement records 2) Compared the Total Revenue amount reported on the Annual Audited Report Form X-17A-5 Part III for the year ended December 31, 2025 with the Total Revenue amount reported in Form SIPC-7 for 3) Compared any adjustments reported in Form SIPC-7 with supporting schedules and working papers, 4) Recalculated the arithmetical accuracy of the calculations reflected in Form SIPC-7 and in the related 5) Compared the amount of any overpayment applied to the current assessment with the Form SIPC-7 on
- entries, noting no differences;
- the year ended December 31, 2025, noting no differences;
- noting no differences;
- schedules and working papers supporting the adjustments, noting no differences; and
- which it was originally computed, noting no differences.
We were not engaged to and did not conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on Glendale Securities, Inc. applicable instructions of the Form SIPC-7 for the year ended December 31, 2025. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures; other matters might have come to our attention that would have been reported to you. This report is intended solely for the information and use of Glendale Securities, Inc. and the SIPC and is not Century City, California March 30, 2026
intended to be and should not be used by anyone other than these specified parties.
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#### Glendale Securities, Inc. Schedule of Securities Investor Protection Corporation Assessments and Payments For the Year Ended December 31, 2025
| | Amount | |
|-------------------------------------------------------------|--------|--------|
| Total assessment | S | 12,526 |
| SIPC-6 general assessment | | |
| Payment made on August 6, 2025 | | 2,968 |
| Less prior overpayment applied | | (141) |
| SIPC-7 general assessment
Payment made on March 06, 2026 | | (9,417 |
| Total assessment balance
(overpayment carried forward) | ಕಾ | |
Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.