# TOBIN & COMPANY SECURITIES LLC X-17A-5 (2025-08-27) — Broker-dealer annual report - Company: TOBIN & COMPANY SECURITIES LLC - Form: X-17A-5 - Filed: 2025-08-27 - Period: 2025-06-30 - Accession: 0001342160-25-000005 - CIK: 1342160 - File #: 8-67134 - Type: Broker-dealer - Material weakness: No - Auditor: Philip V. George, PLLC - Auditor location: Celeste, TX - Contact: Justine Tobin - Phone: 7043342772 - Email: justine@tobinandco.com - Website: tobinandco.com - Signed by: Justine Tobin (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1342160/000134216025000005/tobinpublicauditwcoverpage_3.pdf --- {0}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ANNUAL REPORTS FORM X-17A-5 PART** Ill **FACING PAGE** 0MB APPROVAL 0MB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 SEC FILE NUMBER 8-67134 **Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934** FILING FOR THE PERIOD BEGINNING **07/01/2024** MM/DD/VY AND ENDING **06/30/2025** MM/DD/VY **A. REGISTRANT IDENTIFICATION** NAME oF FIRM: Tobin & Company Securities LLC TYPE OF REGISTRANT (check all applicable boxes): C!:l Broker-dealer □ Security-based swap dealer 0 Check 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.) 101 South Tryon Street, Suite 2700 (No. and Street) Charlotte NC 28280 (City) (State) (Zip Code) PERSON TO CONTACT WITH REGARD TO THIS FILING Justine Tobin 704-334-2772 justine@tobinandco.com (Name) (Area Code -Telephone Number) (Email Address) **B. ACCOUNTANT IDENTIFICATION** INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* Phillip V. George, PLLC (Name - if individual, state last, first, and middle name) 5179 CR 1026 Celeste TX 75423 (Address) (City) (State) (Zip Code) 2.24.2009 3366 **rte of Registcatioo with PCAOB)(lf applicab~I FOR OFFICIAL USE ONLY {PCAOB Reglstcatioo Norn be,,** if **applicable** II \* 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-S(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** | I, Just | | |---------|--| | | | ine Tobin swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of Tobin & Company Securities LLC as of 6/30 , 2~ 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. \ \ \\ \ \ \ I ll l I It I I I I ,,,,'., f IGUi:--11, ,, ,, c,~ ...... ,~ 1,,. / ;~.··~,ss10,/~:.ro',,, ::-'qj ··o~ ~-.,.;,•,"? -:;\_ ::: *:* ,,,. . -:.. ::- • u ~, O T A R v'3 •. ::: \~\ PUBLIC /~} *',;,!f* 12:Nl 'RG G,,,,' ~~~ C• ~ ~ :;'"-·-' ~: ~ Notary Public/" S~~•-:"&-,v,.. 6 i',i'l-°-',,•o' -:/ Signature//,.,.,.--\\_,. {;i\_ VL/ 7/ V VI Title: l Executive Representative **This filing\*\* contains (check all applicable bo'xi~Ji, ,,Y,, .. ,,,,,,,** - ~ (a) Statement of financial condition. - ~ (b) Notes t o consolidated statement of financi al condition. - D (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 (d) Statement of ca sh flows. - D (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - D (f) Statement of changes in liabilities subordinated to claims of creditors. - D (g) Notes to consolidated financial statements. - D (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - D (i) Computation of tangible net worth under 17 CFR 240.lBa-2. - D (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - D (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. - D (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - 0 (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 dat a 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. - 0 (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. - D (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. - □ (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. - D (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. - D (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as applicable. - 0 (y) Report describing any material inadequacies found t o 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). 0(z) Other: - --------- - --------- ---- --- ------------ - - \*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-S(e){3} or 17 CFR 240.18a-7(d}{2), as applicable. {2}------------------------------------------------ # **Tobin** & **Company Securities LLC** **Financial Report** **As of June 30, 2025** Filed as PUBLIC pursuant to Rule 17a-S(d) under the Securities Exchange Act of 1934. {3}------------------------------------------------ # Tobin & Company Securities LLC Contents | Report of Independent Registered Public Accounting Firm l | | |------------------------------------------------------------|--| | Audited Statement of Financial Condition 2 | | | Notes to Financial Statement 3-4 | | {4}------------------------------------------------ # **PHILLIP V. GEORGE, PLLC** CERTIFIED PUBLIC ACCOUNTANT ## **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** Member Tobin & Company Securities LLC #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Tobin & Company Securities LLC (Tobin & Company Securities LLC) as of June 30, 2025, and the related notes ( collectively referred to as the financial statement). In our opinion, the statement of financial condition presents fairly, in all material respects, the financial position of Tobin & Company Securities LLC as of June 30, 2025 in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** This financial statement is the responsibility of Tobin & Company Securities LLC's management. Our responsibility is to express an opinion on Tobin & Company Securities LLC'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 Tobin & Company Securities LLC 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. *(}j* V. ~ Pt4 PHILLIP V. GEORGE, PLLC We have served as Tobin & Company Securities LLC's auditor since 2024. Celeste, Texas August 11, 2025 ![](_page_4_Picture_13.jpeg) {5}------------------------------------------------ #### **Assets** | Cash | \$ | 46,013 | |---------------------------------------|----|--------| | Accounts receivable | | 39,440 | | Prepaid expenses | | 10,000 | | Total current assets | \$ | 95,453 | | | | | | Liabilities and member's equity | | | | Liabilities: | | | | Accounts payable | \$ | 580 | | Unearned income and deposits | | 29,900 | | Total current liabilities | | 30,480 | | Member's equity: | | | | Total member's equity | | 64,973 | | Total liabilities and member's equity | \$ | 95,453 | {6}------------------------------------------------ # **Tobin & Company Securities LLC** # **Notes to Financial Statements June 30, 2025** ### **Note 1. Nature of Business and Summary of Significant Accounting Policies** #### **Nature of Business** Tobin & Company Securities LLC (the "Company"), a North Carolina limited liability company, was organized in May of 2005. The Company is a registered broker-dealer with the Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority, Inc. ("FINRA") and the Securities Investor Protection Corporation ("SIPC"). The Company is a wholly owned subsidiary of Tobin & Company Investment Banking Group LLC (the "Parent"), a North Carolina limited liability company. The Company is considered a Non-Covered Firm exempt from 17 C.F.R. § 240.15c3-3 relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5. The Company's operations consist primarily of participating in the distribution of securities in private placement offerings and providing supervision services. The Company's clients are corporations and individuals located throughout the United States. #### **Significant Accounting Policies** #### 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 the reported amounts of the assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. #### Accounts Receivable: Accounts receivable consist of fees or reimbursable expenses due from issuers of private placement offerings. The Company accounts for estimated credit losses on financial assets measured at an amortized cost basis and certain off-balance sheet credit exposures in accordance with FASB ASC 326-20, Financial Instruments - Credit Losses. FASB ASC 326-20 requires the Company to estimate expected credit losses over the life of its financial assets and certain off-balance sheet exposures as of the reporting date based on relevant information about past events, current conditions, and reasonable and supportable forecasts. The Company records the estimate of expected credit losses as an allowance for credit losses. For financial assets measured at an amortized cost basis the allowance for credit losses is reported as a valuation account on the balance sheet that adjusts the asset's amortized cost basis. Changes in the allowance for credit losses are reported in Credit Loss expense. There is no allowance for credit losses at June 30, 2025, and there was no credit loss expense for the year then ended. #### Revenue Recognition #### Significant Judgments Revenue from contracts with clients includes private placement comm1ss1ons and supervision fees. The recognition and measurement of revenue is based on the assessment of individual contract terms. Significant judgment is required to determine whether performance obligations are satisfied at a point in time or over time; how to allocate transaction prices where multiple performance obligations are identified; when to recognize revenue based on the appropriate measure of the Company's progress under the contract; whether revenue should be presented gross or net of certain costs; and whether constraints on variable consideration should be applied due to uncertain future events. {7}------------------------------------------------ ## **Tobin & Company Securities LLC Notes to Financial Statements June 30, 2025** #### Private Placement Commissions The Company participates in private placement offerings for business entities that want to raise funds through a sale of securities. The performance obligation is the consummation of the sale of securities of the issuer on a "best efforts" basis. Each time an investor enters into a purchase transaction, the Company charges a commission. Commissions are recognized when the performance obligation is satisfied, generally the trade date. The Company believes that the trade date is the appropriate point in time to recognize revenue for these securities transactions as there are no significant actions which the Company needs to take subsequent to this date and the issuer obtains the control and benefit of the capital markets offering at that point. The Company receives non-refundable fees to compensate for the substantial research and analysis performed in the initial stage of the engagement in order to assist the client in meeting regulatory compliance requirements. Such amounts received from clients prior to recognizing revenue are reflected as unearned income and deposits. #### Supervision Fees The Company provides compliance services to registered representatives who choose the Company to assist them with regulatory compliance matters. The Company charges monthly retainer fees which are typically collected upfront on an annual or quarterly basis under terms of agreements in place with the representatives. The Company believes the performance obligation is satisfied over time because the client is receiving and consuming the benefits as they are provided by the Company. Such amounts received from registered representatives prior to recognizing revenue are reflected as unearned income and deposits and total \$29,900 at June 30, 2025. #### Income Taxes The Company and its Parent are both single member limited liability companies and are disregarded for federal income tax purposes, resulting in all the federal tax liabilities or benefits relating to the operations of the Company passing through to the member of the Parent; therefore, federal income taxes are not payable by, or provided for, the Company. #### **Note 2. Net Capital Requirement** The Company is subject to the SEC Uniform Net Capital Rule (SEC Rule 15c3-I), which requires the maintenance of a minimum net capital of \$5,000 and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. Rule 15c3-1 also provides that equity capital may not be withdrawn or cash dividends paid if the resulting net capital ratio would exceed 10 to 1. At June 30, 2024, the Company had net capital of \$15,553 which was \$10,553 in excess of its required net capital of \$5,000. The Company's ratio of aggregate indebtedness to net capital was 1.96 to 1. #### **Note 3. Contingencies** There are currently no significant asserted claims or legal proceedings against the Company, however, the nature of the Company's business subjects it to various claims, regulatory examinations, and other proceedings in the ordinary course of business. The ultimate outcome of any such action against the Company could have an adverse impact on the financial condition, results of operations, or cash flows of the Company. #### **Note 4. Subsequent Events** Management has evaluated the effect subsequent events would have on the financial statements of the Company at June 30, 2025, through August 11, 2025, which is the date the financial statements were available to issue. There were no material subsequent events requiring recognition or additional disclosure in these financial statements. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.