# OAK HILLS SECURITIES, INC. X-17A-5 (2025-12-29) — Broker-dealer annual report - Company: OAK HILLS SECURITIES, INC. - Form: X-17A-5 - Filed: 2025-12-29 - Period: 2025-09-30 - Accession: 0001415871-25-000007 - CIK: 1415871 - File #: 8-67740 - Type: Broker-dealer - Material weakness: No - Auditor: M&K CPAs, PLLC - Auditor location: The Woodlands, TX - Contact: Brian Megenity - Phone: 7702636003 - Email: bmegenity@bdcaonline.com - Website: bdcaonline.com - Signed by: Donald Dillingham (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1415871/000141587125000007/ohsaud1.pdf --- {0}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** > **ANNUAL REPORTS FORM X-17A-5** **0MB APPROVAi 0MB Number. 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12** | | SEC FILE NUMBER | |-----------------------------------------------------------------------------------------------------------|-----------------| | FORM X-17A-5 | 8-67740 | | PART Ill | | | FACING PAGE | | | Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | | | | | **FILING FOR THE PERIOD BEGINNING** 10/1/2024 **AND ENDING 9/30/2025** **MM/DD/VY** **MM/DD/VY A. REGISTRANT IDENTIFICATION** **NAME oF FIRM:** Oak Hills Securities, Inc. **TYPE OF REGISTRANT (check all applicable boxes):** **0 Broker-dealer D 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.O. box no.)** # 121 NE 50th Street | | (No. and Street) | | | | |-----------------------------------------------------------|---------------------------------------------------------------------------|-----------------|--------------------------------------------|--| | Oklahoma City | OK | | 73105 | | | (dty) | (State) | | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | Brian Megenity | 770-263-6003 | | bmegenity@bdcaonline.com | | | (Name) | (Area Code- Telephone Number) | (Email Address) | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | M&K CPAs, PLLC | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing• | | | | | (Name -if individual, state last, first, and middle name) | | | | | | 24955 Interstate Hwy. 45, Suite 400 | The Woodlands TX | | 77380 | | | (Address) | (City) | (State) | (Zip Code) | | | 7/18/2006 | | #2738 | | | | te of Registration with PCAOBJ(if applicable)
( | | | (PCAOB Registration Number, if applicable) | | | FOR OFFICIAL USE ONLY | | | | | | i | | | 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-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 valld 0MB control number.** {1}------------------------------------------------ #### OATH OR AFFIRMATION I , Donald L. Dillingham swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of Oak Hills Securities, Inc. as of September 30th 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. | Signature: | | |------------|--| | | | | CEO | | This filing\*\* contains (check all applicable **boxes):** - l!iil (a) Statement of financial condition. - D {b) Notes to consolidated statement of financial condition. - l!iil (cl 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). - liijij (d) Statement of cash flows. - liijij (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - D (f) Statemenl of changes in liabilities subordinated to claims of creditors. - liijij (g) Notes to consolidated financial statements. - liijij (hi Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.lSa-1, as applicable. - D (i) Computation of tangible net worth under 17 CFR 240.18a-2. - D U) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFn 240.15c3-3. - D (k) Computation for determination of security based swap reserve requirements pursuant to Exhibit D to 17 CFR 240.15c3 3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - D {I) Computation for Determination of PAB Requirements under Exhibit A to§ 21\0.15c3-3. - D {m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - D {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. - liijij (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.lBa-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. - D (p) Summary of financial data for subsidiaries not consolidated in the statement offinancial condition. - l!iil (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.1 /a-12, or 17 CFR 240.lBa-7, as applicable. - D (r) Compliance report in accordance with 17 CFR 240.17a-S or 17 CFR 240.lBa-7, as applicable. - liijij (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - D (t) Independent public accountant's report based on an examination of the statement of financial condition. - !!I (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-S, 17 CHI 240.lBa-7, or 17 CFR 240.17a-12, as applicable. - D (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. - liijij (w) Independent public accountant's report based on a review of the exemption report under 17 CFH 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 240.1�c3-1e or 17 CFR 240.17a-12, as applicable. - D (y) lleport describing ;my material inadequacies found to exist or found to have existed since the date or the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). - D (i) other: \_ \_\_\_\_\_\_\_ \_ \_\_\_\_\_\_\_\_\_ \_ *.,.To request confidential treatment of certain portions of this filing,* see *17 CFR 240.17a 5{e){3) or 17 CFR 240.1Ba-l{d){2), as app/icob/e.* {2}------------------------------------------------ ## **FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES** ## **AS OF AND FOR THE YEAR ENDED** ### **SEPTEMBER 30, 2025** **TOGETHER WITH REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** {3}------------------------------------------------ ## **OAK HILLS SECURITIES, INC. Table of Contents September 30, 2025** | Statement of Financial Condition 2 | |-------------------------------------------------------------------------------------------------------------------------------------------------| | Statement of Operations 3 | | Statement of Changes in Shareholder's Equity 4 | | Statement of Cash Flows 5 | | Notes to Financial Statements 6 | | Supplemental Schedules: | | Schedule I -
Computation of Net Capital and Aggregate Indebtedness
Under Rule 15c3-l of the Securities and Exchange Commission 10 | | Schedule II -
Computation for Determination of Reserve Requirements
Under Rule 15c3-3 of the Securities Exchange Commission 11 | | Schedule III -
Information Relating to the Possession or Control Requirements
Under Rule 15c3-3 of the Securities Exchange Commission 11 | | Report oflndependent Registered Public Accounting Firm on Management's
Exemption Report 12 | | Management's Assertion ofExemption 13 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** #### To the Member Oak Hills Secur tes, Inc. #### **Opinion on the Financial statements** We have audited the acco mp an y n g statement of financ al condit on of Oak Hills Secur ties, Inc. as of September 30, 2025, the related statements of operat ons, changes in shareholder s equity, and cashf owsforthe year then ended, and the re lated notes and schedues (collect vely referred to as the Y nancial statements"). In our opinion, the f nanc al statements present fair y, in all mater al respects, the f nancial pos tion of Oak Hill s Secur ties, Inc. as of September 30, 2025, and the resu ts of its operat ons and ts cash flows for the year then ended in conformity w th accounting pr nciples generally accepted in the United States of Amer ca. #### **Basis for Opinion** These financ al statements are the responsibility of Oak Hills Secur ties, lnc s management. Our respons bility is to express an op inion on Oak Hi II s Securites, I nc.'s f nancial statements based on our aud t. We are a public accounting firm registered with the Public Company Accounting Overs ght Board (United States) (PCAOB) and are required to be ndependent w th respect to Oak Hills Securites, Inc. in accordance with the U.S. federal secur ties laws and the applicable rules and regulations of the Secur tes and Exchange Commission and the PCAOB. We conducted our audit in accordance w th the standards of the PCAOB. Those standards require that we plan and perform the audit to obta n reasonable assurance about whether the financ al statements are free of material m sstatement, whether due to error or fraud. Our aud t included perform ng procedures to assess the r sks of mater al m sstatement of the financ al statements, whether due to error or fraud, and performing procedures th at respond to those r sks. Such procedures included examining, on a test basis, evidence regarding the amounts and disc osures in the f nancial statements. Our audit also inc uded evaluating the account ng p r nc i pies used and signif cant est mates made by management, as well as evaluating the overall presentation of the financ al statements. We believe that our audit provides a reason able basis for our opinion. #### **Auditor·s Re11ort on Supplemental Information** The Schedule I, Computation of Net Capital And Aggregate Indebtedness Pursuant To SEC Rule 15c3-1 , has been subected to aud t procedures performed in conjunct on w th the aud t of Oak Hills Secur ties, I nc.'s f nancial statements. The supplemental informat on is the respons bility of Oak Hills Securit es, I nc.'s management. Our audit procedures n c uded determining whether the supplemental informat on reconc il es to the f nancial statements or the under y ng accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the nformation presented in the supplemental information. In forming our opinion on the supple me nta I information, we evaluated whether the suppemental nformat on, including its form and content, is presented in conform ty w th 17 C.F.R. §240.17a-5. In our opinion, the Schedule I, Computat on of Net Capital And Aggregate Indebtedness Pursuant To SEC Rule 15c3-1, is fair y stated. in all mater al respects. in relation to the financ al statements as a whole. #### /s/ M &K CPAS, PLLC M&K CPAS, PLLC We have served as Oak Hills Secur ties. In c s aud tor s ne e 2023 The Wood ands, TX Dec ember 29, 2025 {5}------------------------------------------------ ### **STATEMENT OF FINANCIAL CONDITION** ### **September 30, 2025** | Assets | | |---------------------------------------------------------------------------------|--------------| | Cash | \$ 325,915 | | Prepaid and other assets | 16,228 | | Total current assets | \$ 342,143 | | Liabilities and Shareholder's Equity | | | Accounts payable (and total current liabilities) | 10,546
\$ | | Total liabilities | 10,546
\$ | | Shareholder's equity: | | | Common stock, \$.01 par value; 100 shares
authorized, issued and outstanding | 1 | | Additional paid-in-capital | 43,999 | | Retained earnings | 287,597 | | Total shareholder's equity | 331,597 | | Total liabilities and shareholder's equity | \$ 342,143 | | | | {6}------------------------------------------------ ### **STATEMENT OF OPERATIONS** #### **For the Year ended September 30, 2025** | Revenue | | |-----------------------------------|----------------| | Success fees | \$ 2,636,480 | | Success fees -
related parties | 509,250 | | Placement agent fees | 50,000 | | Total revenue | 3,195,730 | | Expenses | | | Commissions | 2,807,112 | | Commissions -
related party | 108,688 | | Regulatory and compliance | 148,108 | | Professional services | 116,096 | | General and administrative | 82,087 | | Occupancy -
related party | 5,400 | | Management fee -
related party | 1,800 | | Total expenses | 3,269,291 | | Net loss | \$
(73,561) | {7}------------------------------------------------ #### **STATEMENT OF CHANGES IN SHAREHOLDER'S EQUITY** #### **For the Year ended September 30, 2025** | | | Common Stock | | Additional
Paid-In | Retained | Shareholder's | | |-----------------------------|--------|--------------|--------|-----------------------|------------|---------------|--| | | Shares | | Amount | Capital | Earnings | Equity | | | Balance, September 30, 2024 | 100 | \$ | 1 | \$ 43,999 | \$ 361,158 | \$ 405,158 | | | Net loss | | | | | (73,561) | (73,561) | | | Balance, September 30, 2025 | 100 | \$ | 1 | \$ 43,999 | \$ 287,597 | \$ 331,597 | | {8}------------------------------------------------ ### **STATEMENT OF CASH FLOWS** ### **For the Year ended September 30, 2025** | Cash Flows from Operating Activities | | | |---------------------------------------------------------|----|-------------| | Net loss | \$ | (73,561) | | Adjustments to reconcile net income to net cash used in | | | | operating activities: | | | | Accounts receivable | | 226,000 | | Prepaid and other assets | | 5,127 | | Commissions payable | | (1,101,036) | | Accounts payable | | (27,440) | | Net cash used in operating activities | | (970,910) | | Net decrease in cash and cash equivalents | | (970,910) | | Cash and Cash Equivalents, beginning of period | | 1,296,825 | | Cash and Cash Equivalents, end of period | \$ | 325,915 | {9}------------------------------------------------ ## **NOTES TO FINANCIAL STATEMENTS** ## **September 30, 2025** ### **Note 1 - Nature of Business** ### **Organization** **Oak Hills Securities, Inc. (the Company), a Subchapter S corporation, was incorporated in the state of Oklahoma on November 21, 2006, and has a single shareholder. The Company is registered with the Securities and Exchange Commission and is a member of the Financial Industry Regulatory Authority (FINRA). The Company's principal business activity is private placements, primarily of tax credit direct participation investment programs. Operations began on February 12, 2008.** ## **Note 2 - Summary of Significant Accounting Policies** ### **Basis of presentation** **The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP).** ## **Cash and Cash Equivalents** **At September 30, 2025, cash consisted solely of U.S. dollar deposits held with banks; the Company held no cash equivalents. All cash balances were fully insured under Federal Deposit Insurance Corporation (FDIC) coverage limits.** ## **Use of estimates** **Management uses estimates and assumptions in preparing the financial statements in accordance with U.S. GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities, and the reported revenues and expenses. While management believes current estimates are reasonable and appropriate, actual results could differ from those estimates.** ### **Revenue recognition** **The Company recognizes revenue in accordance with Accounting Standards Codification (ASC) Topic 606,** *Revenue from Contracts with Customers,* **under U.S. GAAP. Revenue is recognized when control of the promised goods or services is transferred to the customer, in an amount that reflects the consideration the Company expects to receive in exchange for those goods or services.** {10}------------------------------------------------ **Revenue recognition is determined using the following steps:** - **1. Identify the contract(s) with a customer.** - **2. Identify the performance obligations in the contract.** - **3. Determine the transaction price.** - **4. Allocate the transaction price to the performance obligations in the contract.** - **5. Recognize revenue when (or as) each performance obligation is satisfied.** **The Company considers estimates and variable consideration when determining the transaction price. This includes estimates related to the collectability of success fees and adjustments for potential refunds or credits. Changes in the scope or price of a contract are considered contract modifications. Any modifications are evaluated for their impact on revenue recognition, and adjustments are made accordingly. The Company identifies performance obligations in its contracts based on the nature of services provided to clients. Performance obligations primarily consist of executing transactions, providing investment advice, and related services.** ## **Success fees** **Success fees are recognized when the Company has fulfilled its performance obligations and the criteria for revenue recognition under ASC 606 are met. Success fees are typically contingent on the successful completion of a transaction or achievement of a specific milestone as defined in the Company's contract with its clients. Revenue recognition occurs at the point in time when the transaction or milestone is achieved and the Company has no further obligations affecting the amount of consideration to which it is entitled.** ## **Placement agent fees** **Placement agent fees are recognized when the Company satisfies its performance obligations in accordance with ASC 606. These fees are generally earned for facilitating the placement of securities or capital with investors, as defined in the Company's contract with the client.** **The Company's performance obligation is typically satisfied at a point in time, which occurs when the capital raise or securities placement is successfully completed and the Company has no further obligations that would affect the amount of consideration to which it is entitled. At that point, the criteria for revenue recognition under ASC 606 are met, and the related fee is recognized as revenue.** ## **Fair value measurements** **The carrying amounts of the Company's financial instruments, which include current assets and current liabilities, approximate their fair values due to their short maturities.** {11}------------------------------------------------ ## **Income taxes** **The financial statements do not include a provision for federal income taxes because the Company has elected to be treated as a pass-through entity for federal income tax purposes and, as such, is not subject to federal income taxes. Rather, all items of taxable income, deductions, and tax credits are passed through to the sole owner and reported on the owner's individual income tax return. Accordingly, the Company is not required to take any tax positions in order to qualify as a pass-through entity. The Company is required to file and does file tax returns with other taxing authorities. Accordingly, these financial statements do not reflect a provision for federal income taxes and the Company has no other tax positions which must be considered for disclosure.** ## **Subsequent events** **Management has evaluated events through December 29, 2025, the date the financial statements were available to be issued. No subsequent events were identified that require recognition of disclosure in the financial statements.** ## **Note 3 - Net Capital Requirements** **As a registered broker/dealer and member of the FINRA, the Company is subject to the Securities and Exchange Commission Uniform Net Capital Rule (Rule 15c3-l), which requires the maintenance of minimum net capital and requires that the ratio of aggregated indebtedness to net capital, both as defined, shall not exceed 15 to 1 and prohibits a broker dealer from engaging in securities transactions when its net capital falls below minimum requirements as defined by the Rule. At September 30, 2025, the Company's net capital and required net capital were \$315,369 and \$5,000, respectively. The Company's ratio of aggregate indebtedness to net capital was approximately 2.50%, which is well below the maximum ratio of 15 to 1 permitted under the SEC Uniform Net Capital Rule (Rule l 5c3-l ).** ## **Note 4 - Related Party Transactions** **Through common ownership and management, the Company is affiliated with Avondale Investments, LLC (Avondale) which is 100% controlled by the sole shareholder of the Company.** **Additionally, through common ownership, the Company is affiliated with several entities (the CNG Entities) that provided success fee revenue to the Company during the year ended September 30, 2025, as follows:** - . **CNG Dickson-Ringling** . **CNG 2023 Vehicles II** - - . **CNG 2023 Vehicles III** . **CNG 2023 Vehicles IV** - - . **CNG 2023 Stations** - . **CNG 2024 Stations I** . **CNG 2024 Stations II** - - . **CNG 2024 Habitat Station** . **CNG 2024 Vehicles** - - . **CNG APS Station, LLC** {12}------------------------------------------------ **The Company's sole shareholder owns less than 5% of any of the CNG Entities. The CNG Entities provided \$509,250 in success fees during the year, which represents 16 % of total revenue recorded for the year ended September 30, 2025.** **The Company leases office space from Avondale under an operating lease, with a term of 12 months, effective through June 30, 2026, for \$450 per month. The occupancy expense incurred for the year ended September 30, 2025, pursuant to the terms of the lease was \$5,400. Minimum future lease payments on this lease totals \$4,050.** **During the year ended September 30, 2025, the Company paid commissions of \$108,688 to its sole shareholder.** ## **Note 5 - Commitments and Contingencies** ## **Litigation** **The Company from time to time may be involved in litigation relating to claims arising out of its normal course of business. Management believes that there are no claims or actions pending or threatened against the Company, the ultimate disposition of which would have a material impact on the Company's financial position, results of operations or cash flows.** ## **Risk management** **The Company maintains various forms of insurance that management believes are adequate to reduce exposure to these risks to an acceptable level.** ## **Regulatory enforcement matter (FINRA)** **From September 2019 through June 2024, the Company acted as the exclusive placement agent in multiple private placement offerings. During this period, the Company did not properly terminate certain offerings or promptly return investor funds when minimum offering contingencies were not met. In addition, for certain offerings, investor funds were not held in escrow as required, and required filings with the Financial Industry Regulatory Authority (FINRA) were not made on a timely basis.** **As a result of these matters, the Company was censured and fined \$125,000 by FINRA. The fine was paid by the Company during the year ended September 30, 2025, and is recognized as regulatory and compliance expense in the accompanying statement of operations.** ## **Note 6- Concentrations** **For the year ended September 30, 2025, approximately 88% of the Company's revenue was derived from four customers, and approximately 58% of commission expenses were earned by a single individual.** {13}------------------------------------------------ # SUPPLEMENTAL SCHEDULES {14}------------------------------------------------ ### **SCHEDULE I** ## **COMPUTATION OF NET CAPITAL AND AGGREGATE INDEBTEDNESS PURSUANT TO RULE 15c-3-1 OF THE SECURITIES AND EXCHANGE COMMISSION** #### **For the Year ended September 30, 2025** | Computation of Net Capital | | |-------------------------------------------------------------------------------|--------------| | Total shareholder's equity | \$ 331,597 | | Deductions: | | | N onallowable assets | (16,228) | | Net capital | 315,369 | | Computation of Basic Net Capital Requirement | | | Minimum net capital requirement ( 6 2/3 % of total
aggregate indebtedness) | \$
703 | | | | | Minimum dollar net capital requirement | \$
5,000 | | Net capital requirement | \$
5,000 | | Computation of Aggregate Indebtedness | | | Total liabilities from statement of financial condition | \$
10,546 | | Net capital in excess of minimum requirement | \$ 310,369 | | Percentage of aggregate indebtedness to net capital | 3.34% | **Note: There are no material differences between the above computation and the computation of net capital under Rule 15c3-l as of September 30, 2025 as reported by Oak Hills Securities, Inc. on December 29, 2025 on Form X-l 7A-5. Accordingly, no reconciliation is deemed necessary.** {15}------------------------------------------------ #### **SCHEDULE II** ### **COMPUTATION FOR DETERMINATION OF RESERVE REQUIREMENTS UNDER RULE 15c3-3 OF THE SECURITIES AND EXCHANGE COMMISSION** #### **As of September 30, 2025** **With respect to the Computation for Determination of Reserve Requirements under Rule 15c3-3, the Company does not claim an exemption from Rule 15c3-3 in reliance upon footnote 74 of SEC Release No. 34-70073 dated July 30, 2013, and as discussed in Question 8 of the related FAQ released by SEC staff. The Company does not hold customer funds or securities.** #### **SCHEDULE Ill** ## **INFORMATION RELATING TO THE POSSESSION OR CONTROL REQUIREMENTS UNDER RULE 15c3-3 OF THE SECURITIES AND EXCHANGE COMMISSION** #### **As of September 30, 2025** **With respect to the Information Relating to Possession and Control Requirements under Rule 15c3-3, the Company does not claim an exemption from Rule 15c3-3 in reliance upon footnote 74 of SEC Release No. 34-70073 dated July 30, 2013, and as discussed in Question 8 of the related FAQ released by SEC staff. The Company does not hold customer funds or securities.** {16}------------------------------------------------ ![](_page_16_Picture_0.jpeg) #### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member Oak Hills Securities, Inc. We have rev ewed management s statements, included in the accompanyng Rule 15c3-3 Exempton Report pursuantto SEC Ru e 17a-5, in wh ch (1) Oak Hills Securties, Inc. (the Company) did not cla m an exempton under paragraph (k) of 17 CFR. §240.15c3-3 , and (2) the Company is filing th s Exempt on Report reyng on Footnote 74 of the SEC Re ease 34-70073 adopting amendments to 17 C.F.R. §240.17a-5 because the Company lim ts ts business activties exclusvey to effecting securifies transactons va subscriptons on a subscrpfion way basis where the funds are payable to the issuer or ts agent and not to the com parry; recevng transacfion-based compensafi on for identfy ng potental merger and acqu s lt on opportuntes for clients, referring securties transacti ans to other broker-dealers; partcipati ng in d strbutons of securties in accordance wth the requirements of paragraph (a) or (b)(2) of Rule 15c2-4, and the Company d d not directly or indirectly receve, hold, or otherwise owe funds or securtes for orto customers, ( other than money or other consideraton receved and prompty transm tted in compliance w th paragraph (a) or (b)(2) of Rule 15c2-4 and/or funds receved and prompty transm tted for effectng transactons va subscriptons on a subscrpton way basis where the funds are payab e to the issuer or its agent and not to the Com parry); d d not carry accounts of or for customers; and d d not carry PAB accounts (as def ned in Rule 15c3-3) throughout the most recent fiscal year wthout excepton. Oak Hills Securtes, Inc.' s management is responsible for compliance wth the exempton provsions and ts statements. Our rev ew was conducted in accordance wth the standards of the Public Company Accountng Oversight Board (Unted States) and, accordngy, included inquiries and other required procedures to obta n evdence about Oak Hills Securites, Inc .'s comp iance wth the exemption provsions. A revew is substanti ally less in scope than an examinat on, the objectve of which is the expression of an op nion on m anagemenrs statements. Accordngy, we do not express such an opinion. Based on our revew, we are not aware of any materal modf cat ons that shou d be made to managements statements referred to above for them to be fairy stated, in all mater al respects, based upon the Company's business actvifies contemp ated by Footnote 7 4 of the SEC Release No. 34-70073 adoptng amendments to 17 C.F.R.§240.17a-5, and re ated SEC Staff Frequenty Asked Quesfions. /s/ M&K CPAS, Pll..C M&K CPAS, PLLC The Woodlands, TX December 29, 2025 {17}------------------------------------------------ ## **OAK HILLS SECURITIES, INC. EXEMPTION REPORT YEAR ENDED SEPTEMBER 30, 2025** **Oak Hills 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. § 240.17a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R, §240.17a-S(d)(l) and (4). To the best of its knowledge and belief, the Company states the following:** **The Company does not claim an exemption under paragraph (k) of 17 C.F.R. §240.15c3-3 and the Company is filing this Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 because the Company limits its business activities exclusively to effecting securities transactions via subscriptions on a subscription way basis where the funds are payable to the issuer or its agent and not to the Company; receiving transaction-based compensation for identifying potential merger and acquisition opportunities for clients, referring securities transactions to other broker-dealers; participating in distributions of securities in accordance with the requirements of paragraph (a) or (b)(2) of Rule 15c2-4, and the Company 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 1Sc2-4 and/or funds received and promptly transmitted for effecting transactions via subscriptions on a subscription way basis where the funds are payable to the issuer or its agent and not to the Company); did not carry accounts of or for customers; and did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception.** **I, Donald Dill ingham, swear that, to the best knowledge and belief, the Exemption Report is true and correct.** **Donald Dillingham, President Oak Hills Securities, Inc.** {18}------------------------------------------------ **IVl&K C PAS** #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING **FIRM** ON APPLYING AGREED·UPON PROCEDURES To the Member Oak H lls Securites, Inc. We have performed the procedures included n Rue 17a-S(e}(◄) under the Securities Exchange Act of 193◄ and in the Securites Investor Protect on Corporaton (SIPC} Seres 600 Rules, wh ch are enumerated below and were agreed to by Oak H lls Securtes, Inc. and the SIPC, solely to assst you and SIPC n eva uating Oak H lls SeC