# INDEPENDENT INVESTMENT BANKERS, CORP. X-17A-5 (2026-02-09) — Broker-dealer annual report

- Company: INDEPENDENT INVESTMENT BANKERS, CORP.
- Form: X-17A-5
- Filed: 2026-02-09
- Period: 2025-12-31
- Accession: 0001492911-26-000003
- CIK: 1492911
- File #: 8-68609
- Type: Broker-dealer
- Material weakness: No
- Auditor: Bauer & Company
- Auditor location: Austin, TX
- Contact: Dante Fichera
- Phone: 512-266-3000
- Email: dfichera@iibcorp.com
- Website: iibcorp.com
- Signed by: Dante Fichera (President)

Original filing: https://www.sec.gov/Archives/edgar/data/1492911/000149291126000003/IIBSECFILING.pdf

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.20549

OMB Number: 3235{123 Expires: Nov. 30,2026 Estimated average burden hours per response: l2

# ANNUAT REPORTS FORM X-17A-5 PART III

| SEC FiLE NUMEER |  |
|-----------------|--|
| 8-68609         |  |

FACING PA6E

lnformation Required Pursuant to Rules !7a-5,17a-\2, and 18a-7 under the Securities Exchange Act of 1934

FILING FOR THE PERIOD BEGINNING O1IO1I25 AND ENDTNG 12131125

MMIDD/YY

MM/DD/YY

A. REGISTRANT IDENTI FICATION

NAME oF F'RM: lndependent lnvestment Bankers Corp.

WPE OF REGISTRANT (check all applicable boxes):

EI Broker-dealer D Security-based swap dealer D Check here if respondent is also an OTC derivatives dealer n Major security-based swap participant

ADDRESS OF PRINCIPAL PLACE OF BUSINESS: {Do not use a P.O. box no.)

# 2900 N Quinlan Park Rd, Suite 240

| (No. and Street)                             |                                                                           |                 |                      |  |  |  |
|----------------------------------------------|---------------------------------------------------------------------------|-----------------|----------------------|--|--|--|
| Austin                                       | Texas                                                                     |                 | 78732                |  |  |  |
| (City)                                       | (Srate)                                                                   |                 | (Zip Code)           |  |  |  |
| PERSON TO CONTACT WITH REGARD TO THIS FILING |                                                                           |                 |                      |  |  |  |
| Dante Fichera                                | 512-266-3000                                                              |                 | dfichera@iibcorp.com |  |  |  |
| (Name)                                       | (Area Code - Telephone Number)                                            | (Email Address) |                      |  |  |  |
|                                              | B. ACCOUNTANT IDENTI FICATION                                             |                 |                      |  |  |  |
| Bauer & Company                              | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* |                 |                      |  |  |  |
|                                              | (Name - if individual, state last, first, and middle name)                |                 |                      |  |  |  |
| PO Box 27BBT                                 | Austin                                                                    | TX              | 78755                |  |  |  |
| (Address)                                    | {city)                                                                    | (5tateI         | (Zip Code)           |  |  |  |
| 11 12012014                                  |                                                                           | 6072            |                      |  |  |  |
|                                              |                                                                           |                 |                      |  |  |  |
|                                              | FOR OFFICIAI. USE ONTY                                                    |                 |                      |  |  |  |
|                                              |                                                                           |                 |                      |  |  |  |

I Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public accountantmustbesupportedbyastatementoffactsandcircumstancesreliedonasthebasisoftheexemption. See17 CFR 2'10. 17a-5(eXtl(ii), if applicable.

Pcrrcns who arc to respond to the cqllection of information containcd in this form crc not rcquired to respond unlcse thc form dispkys a currently valid OMB control number.

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#### JURAT WITH AFFIANT STATEMENT

��������������������������������������������������������������������������� Rx11 State of ડેરી County of \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ [] See Attached Document (Notary to cross out lines 1-7 below) [[See Statement Below (Lines 1-7 to be completed only by document signer[s], not Notary) annual Beports Fam x-17A-5 Pai Sel F.12 number 11/2 +/1 Signature of Document Signer No. 1 Signature of Document Signer No. 2 (if any) Subscribed and sworn to (or affirmed) before me this 5th day of ( 66 ) Date Month Year Fribier. Name of Signer No. 1 KARLA TEJERA SILVERIO Notary ID #134498881 Name of Signer No. 2, (if any) My Commission Expires August 9, 2027 Signature of Notary Public Ri, 5 202 Place Notary Seal/Stamp Above Any Other Required Information (Residence, Expiration Date, etc.) -- OPTIONAL -This section is required for notarizations performed in Arizona but is optional in other states. 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: 1000 Clic. 1 Document Date: \_ 2/4 2026 \_\_ Number of Pages: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ Signer(s) Other Than Named Above: \_

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©2019 National Notary Association

M1304-06 (09/25) Used for states (AL, AR, CT, ID, IN, KY, LA, NE, NV, NM, NY, SC, SD, TN, TX, VA)

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#### OATH OR AFFIRMATION

|                                               | swear (or affirm) that, to the best of my knowledge and belief, the                         |       |
|-----------------------------------------------|---------------------------------------------------------------------------------------------|-------|
| to the firm of<br>financial report pertaining | lndependent lnvestment Bankers Corp.                                                        | as of |
| December 31'                                  | 2025 ,<br>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:<br>-     |  |
|---------------------|--|
| Title:<br>President |  |

#### This fillng\*\* contains (check all applicable boxes):

- (a) Statement of financial condition.
- = il {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 5 210.1-02 of Regulation S-X).
- E (d) Statement of cash flows.
- E (e) Statement of changes in stockholders' or partners' or sole proprietor's equity.
- n (f) Statement of changes in liabilities subordinated to claims of creditors.
- E (g) Notes to consolidated financial statements.
- H (h) Computation of net capital under 17 CFR 2ulo. 15c3 -7 or 17 CFR 240.18a-1, as applicable.
- n (i) Computation of tangible net worth under 17 CFR 240"18a-2.
- E fi) Computation for determination of customer reserye requirements pursuant to Exhibit A to 17 CFR 240.15c3-3.
- n {k) Computation for determination of security-trased swap reserue requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable.
- n (l) Computation for Determination of PAB Requirements under Exhibit A to 5 240.15c3-3.
- E (m) lnformation relating to possession or control requirements for customers under 17 CFR 24O.15c3-3.
- tl (n) lnformation relating to possession or control requirements for security-based swap customers under 17 CFR 24O,15c3-3(p)(2l,or L7 CFR 24O.18a-4, as applicable.
- il (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 71 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 of financial condition.
- E (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 24O.l7a-12, or 17 CFR 24O.78a-7, as applicable.
- D (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.l8a-7, as applicable.
- E (s) Exemption report in accordance with 17 CFR 24O.17a-5 or 17 CFR 24A.18a-7 , as applicable.
- n (t) lndependent public accountant's report based on an examination of the statement of financial condition.
- E (u) lndependent public accountant's report based on an examination of the financial report or financial statements under <sup>17</sup> CFR 240.17a-5, 17 CFR 24O.tBa-7, or 17 CFR 24O.17a-12, as applicable.
- E (v) lndependent public accountant's report based on an examination of certain statements in the compliance report under <sup>17</sup> CFR 240.17a-5 or 17 CFR 24A.lAa-7, as applicable.
- = (w) lndependent public accountant's report based on a review of the exennption report under 17 CFR 240.17a-5 or \7 CFR 240.18a-7, as applicable.
- n (x) Supplemental reports on applying agreed upon procedures, in accordance with 17 CFR 2tlo.15c3-1e or 17 CFR 24O.l7a-12, as applicable.
- D (y) Report describing any material inadequacies found to exist or found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR ZAO.fia-72(kl.
- f (z)other:
- ,rTo request confidentiat treotment of ceftain portions of this filing, see 77 CFR 240.17o-5(e)(3) or 17 CFR 2A0.fio-4d)(Z), os opplicoble.

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# lndependent lnvestment Bankers Corp. Financial Statements and Supplemental Schedules December 3L,2025

With Report of lndependent Registered Public Accounting Firm

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# Independent lnvestment Bankers Corp.

# lndex to Financial Statements and Supplemental Schedules December 31-,2025

| Report of lndependent Registered Public Accounting Firm                                     |      |
|---------------------------------------------------------------------------------------------|------|
| FINANCIAL STATEMENTS                                                                        |      |
| Statement of Financial Condition                                                            | z    |
| Statement of Operations                                                                     | 3    |
| Statement of Changes in Stockholder's Equity                                                | 4    |
| Statement of Cash Flows                                                                     | 5    |
| Notes to the Financial Statements                                                           | 6    |
| SUPPLEM ENTAL SCHEDULES                                                                     |      |
| l. Computation of Net Capital and Aggregate lndebtedness<br>Under Rule 15c3-l               | 10   |
| ll. Computation for Determination of Reserve Requirements<br>Under Rule 15c3-3              | LL   |
| lll. lnformation Relating to The Possession or Control Requirements<br>Under Rule 15c3-3    | 1,1. |
| Report of lndependent Registered Public Accounting Firm on Management's<br>Exemption Report | L2   |
| Management's Assertion of Exemption                                                         | 13   |
| Agreed-Upon Procedures Report Regarding Form SIPC-7                                         | t4   |

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![](_page_5_Picture_0.jpeg)

#### REPORI' OF INDEPI]NDENT RECISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and

Stockholder of lndependent lnvestment Bankers Corp.

#### Opinion on the Financial Statements

We have audited the accornpanying staternent of financial condition of Independent Investment Bankers Corp. as of December 31,2025, the related staternents of operations. changes in stockholder"s equity. and cash florvs forthe yearthen ended. atld tl.re related notes (collectively ref-erred to as the "flnar.rcial statements"). I11 our opinion, t5e lllancial statements present fairly, in all rnaterial respects. the flnancial position of Independent Investrnent Bankers Corp. as olDecember 31. 2025. artd the results of its operations arrd its cash tlows for the year then ended in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion

These financial statements are the responsibility of Independent Investrnent Bankers Corp.'s managenrent. Our responsibilitv is to express an opinion on Independent Investment Bankers Corp.'s tlnancial statements based on our audit. We are a public accounting lirm registered rvith the Public Cornpany' Aocounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to Iudependent lnvestment Bankers Corp. in accordance with the U.S. f-ederal securities laws and the applicable rules and regulations of the Securities and Exclrange Commission ancl the PCAOB.

We conducted ottr audit in accordance with the standards of the PCAOB. Those slandards require that we plan and perlbrm the audit to obtain reasonable assurance about rvhether the financial statements are free of materia[ rnisstatement. whether due to error or fiaud. Our audit included perfbrming procedures to assess the risks of rnaterial misstatement of the flnancial statements, whether due to error or fiaud. and perfbrming procedures that respond to those risks. SLrch procedures irrclr"rded eramining. on a test basis. evidence regarding the amoLlnts and disclosures in the f-inancial 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 flnancial statements. We believe that our audit provides a reasonable basis fbr our opinion.

#### Auditor's Report on Supplemental Information

The Computation of Net Capital and Aggregate Indebtedness Pursuant to Rule l5c3-l of the Securities and Exchange Commission (Schedule l). the Computation 1br Determination ol Reserve Requirements Uuder Rule 15c3-3 of the Securities and Exchange Cotnmission (Schedule II) and the Infbnnation Relating to the Possession or Control Requirements Under Rule l5c3-3 of the Securities and Exchange Commission (SchedLrle III) (the "supplemental Information") has been subjected to audit procedures performed in conjunction with the audit of Independent Investment Bankers Corp.'s finarrcial statemelrts. The supplemental information is the responsibility of Independent Investment Bankers Corp.'s ntanagement. Our audit procedures inclr.rdcd detennining tvhether the supplernental information reconciles to the financial staternents or thc underlying accounting and other records. as applicable. and perlbrming procedures to test the completeness and accuracy of the inlbrmation presented in the supplentental information. ln forrning our opinion on the supplemental infbrmation. we evaluated rvhether the sLrpplemental information. including its fbrrn and content, is presented in confonritv rvith l7 C.F.R. {240.17a-5. In ouropinion, the SLrpplernental Infbrmation is fairly'stated. in all material respects, in relation to the flnancial statements as a whole.

BAUER & COMPANY, LLC

Eooro & Co\*7auy, //C

We have served as lndependent Investment Bankers Corp.'s auditor since 2014.

Austin. Texas February 4,2026 Bcuer & Compcny, Ll-C P.O. Box 27887 Ausiin , iX 7E7 55 <sup>1</sup>ei 51 2.7 31.35 I 8 i www.bot:ercndcorripo ny.ccry)

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#### Statement of Financial Condition December 31. 2025

| Assets:                                                               |         |
|-----------------------------------------------------------------------|---------|
| Cash and cash equivalents<br>ਦੇ ਦੇ                                    | 572.330 |
| Other assets                                                          | 39.762  |
| Property and equipment, net                                           | 11.174  |
| Total assets<br>ಕಾ                                                    | 623,266 |
| Liabilities and Stockholder's Equity                                  |         |
| Liabilities:                                                          |         |
| Accounts payable and accrued expenses<br>S                            | 205.833 |
| Total liabilities                                                     | 205.833 |
| Stockholder's equity:                                                 |         |
| Common stock, 100 shares authorized with \$0.01 par value, 100 issued |         |
| and outstanding                                                       |         |
| Additional paid-in capital                                            | 45.914  |
| Retained earnings                                                     | 371.518 |
| Total stockholder's equity                                            | 417.433 |
| Total liabilities and stockholder's equity<br>S                       | 623.266 |

The accompanying notes to the financial statements are an integral part of these financial statements.

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#### Statement of Operations

For the Year Ended December 31, 2025

| Revenues:                              |        |            |
|----------------------------------------|--------|------------|
| Commissions                            | S      | 13,576,136 |
| Investment banking retainers           |        | 4.503.513  |
| Other income                           |        | 274,686    |
| Total revenues                         |        | 18,354,335 |
| Operating expenses:                    |        |            |
| Commissions, compensation and benefits |        | 17.604.413 |
| Communications                         |        | 7.782      |
| Dues and subscriptions                 |        | 12.511     |
| License and registration               |        | 86.643     |
| Technology fees                        |        | 51.870     |
| Occupancy and equipment costs          |        | 15,284     |
| Professional fees                      |        | 362.988    |
| Travel, meals and entertainment        |        | 39.922     |
| Other expenses                         |        | 77.927     |
| Total operating expenses               |        | 18.259.340 |
|                                        |        |            |
| Net income                             | સ્ત્રે | 94.995     |

The accompanying notes to the financial statements are an integral part of these financial statements.

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Statement of Changes in Stockholder's Equity For the Year Ended December 31, 2025

|                              | Capital | Additional<br>Shares | Retained | Total  |
|------------------------------|---------|----------------------|----------|--------|
| Balance at December 31, 2024 |         |                      |          |        |
| Net income                   |         |                      | 94 995   | 94.995 |
| Balance at December 31, 2025 |         |                      |          |        |

The accompanying notes to the financial statements are an integral part of these financial statements.

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#### Statement of Cash Florvs For the Year Ended December 31.2025

| Cash flor.vs fiom operating activities:              |                        |
|------------------------------------------------------|------------------------|
| Net income                                           | 94.995                 |
| Adjustments to reconcile net income to               |                        |
| net cash used in operating activities:               |                        |
| Depreciation expense                                 |                        |
| Change in assets and liabilitics:                    | 5.684                  |
| Other assets                                         | 2,t42                  |
| Accounts payable and accrued expenses                | ( r,060,637)           |
| Net cash used in operating activitics                | (es7.816)              |
|                                                      |                        |
| Cash f'lows used in investing activities:            |                        |
| Purchases of property and equipment                  |                        |
| Net cash used in investins activities                | (7. I 06)<br>(7,106)   |
|                                                      |                        |
| Cash tlorvs used in financing activities:            |                        |
| Distributions to slockholder                         |                        |
| Net cash used in financinp activities                |                        |
|                                                      |                        |
| Net decrease in cash                                 | (e64.e22)              |
|                                                      |                        |
| Cash and cash equivalents at beginning of year       |                        |
| Cash and cash equivalenls at end ofvear              | 1,531 ,252<br>5 72.330 |
|                                                      |                        |
| Supplemental disclosures of cash f'lorv infbrmation: |                        |
| Income taxes paid                                    |                        |
| \$                                                   |                        |
| Interest paid<br>\$                                  |                        |

The accompanying notes to the financial statements are an integral part of these flnancial statements.

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Notes to the Financial Statements Decernber 3l - 2025

#### Note I - Nature of Business

Independent Investment Bankers Corp. (the "Compan.v"), a Delaware Corporation, is a broker-dealer in securities registered with the Securities and Exchange Commission ("SEC") and is a mernber of the Financial Industry Regulatory Authority ("FINRA"). The Cornpany does not claim arr exemption fiorn Rule l5c3-3 in reliance upon lootnote 74 of SEC Release NO. 34-10073 dated July 30. 2013. and as discussed in Question 8 on the related FAQ released by SEC staff-. The Company is a lirnited purpose broker dealer and is primarily engaged in the business of providing registered investrnent banking professionals a platforr to assist private and public companies obtain equity/debt capital or liquidity or growth through mergers or acquisition. Offerings are nrade primarily to instituticlnal investors.

#### Note 2 - Significant Accounting Policies

#### Basis ttf Accoutrling

These financial statements are presented on the accrual basis of accounting in accordance rvith generally accepted accounting principles rvhereby revenues are rccognized in the period earned and cxpcnses whert incurred.

#### Cush Equivulents

For purposes of the statements of cash florvs. the Company considers shoft-term investmenls. rvhich may be withdrawn at any time without penalty. which will become available within thrce months or less fiom the date of the financial statements. to be cash equivalents.

#### Use oJ'Eslimutes

'fhe preparation of flnancial staternents in conforrnity u,ith accounting principles generall)'accepted in the United States of America requires managernent to nrake estitnates and assumptions that aff-ect the reported amounts of assets and Iiabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the repofted arrolrnts of revcnues and erpenscs during the reporting period. Actual results could differ fiom those estitnates.

The Company provides investnrent banking services. including advisory and capital-raising services. which are generally performed on a best-efforts basis. As a result. estimates and assumptions are required in evaluating ntatters such as the recognition of revenLte. the likelihood of completing transactions, and the collectability of f-ees. These estimates are based on ntanagement's -iudgrnent. experience. and available inforrnation at the time the financial statements are prepared. Changes in facts and circurr-rstances could result in changes to those estimates in lirture periods.

#### Revenue Recognition ond Accounts Receivohle

1'he Company recognizes revenue in accordance uith Accounting Standards Codification (ASC) 606, Revenue from Contracts u'ith Custorners, which recluires revenue to be recognized rvhen control of the promised sen,ices is transf'ened to customers in an amount that ref'lccts the consideration rvhich the Company expects to be entitled.

Revenue from contracts with customers primarilf includes comtnission income and fees fiom investrnent banking services. The recognition and measurelrent ol revenue are based on an evaluation of the specific tenns of each contract. Significant judgment is required to detennitte:

o Whether perfbrmance obligations are satisfied at a point in tiue or over tirne.

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#### INDEPENDBNT INVf, STMENT BANI(ERS CORP.

## Notes to the Financial Statements

Decerrrber 31.2025

- o 'lhe appropriate allocation ol transaction prices rvhere multiple perfonnance obligations exist, and
- o The appropriate measure of the Compan) s progress urrdcr eaclr contract.

Each contracl is assessed individually to deterrnine whelher revenue should be recognized over time as services are pertbrmed or at a point in timc when the pcrfbrmance obligation is satisfled.

#### (-omntissions

The Company provides advisory services irr connection with mergers and acquisitiorrs. capital raising. debt financing. and other strategic transactions. Revenue fiorn these services is recognized when the perlbrmance obligation under the contract is satislled. rvhich typically occurs at thc closing of the transaction- rvhen the related f'ees becorne due and payable.

For engagements involr,'ing rnultiple services. the Company evaluates rvhether the services constitute distinct perfonnance obligations and. il'so. allocales transaction prices accordingly. For success-based f-ees. revenue is recognized at the point in time r.vhen the transaction is cornpleted. and all significant contingencies have been rcsolved.

#### Inve slruenl B unkin g Re t u i <sup>n</sup>crs

Investment banking retainer f-ees are recognized as revenue u,hen the related perfbnnance obligation. as defined in the client agreemcnt. is satisfled. Retainers are generally'considered distinct fiom successbased lees and are recognized either over tinre as services are provided or at the earlier of cornpletion of the specified service or receipt of payment. provided that no signiticant contingencies rernain.

As of Decelnber 3 1.2025. the Company has no deferred revenue related to investment banking contracts.

#### Accounts Receit,able

Accounts receivable represent amounts due fbr services perforrned through the balance sheet date. lvhich are generally billed and collected within 30 days. Rcceivables are recorded at amounts billed to clients, net of an allowance for doubtful accounts.

The Cornpany evaluates receivable balances on an ongoing basis and establishes an allowance fbr doubtful accounts based on specific accounts identified as at risk or uncollectible. Accounts deemed uncollectible are written off when collection is considered unlikely.

As of Decernber 31. 2025. thc Companl's allorvance fbr doubtful accounts was \$0.

#### Property and Equipment

Property and equipment are recorded at cost and are depreciated using the straight-line depreciation rnethod over their estitnated useful lir,es. Computers and equipment are deprcciated over three 1,ears. Upon disposal, property and equipnrent and the related accurnulated depreciation and amortization are removed fiorn the accounts and the resulting gain or loss is ref'lected in the staternents of operations.

#### Fair Value Meusuremenls

The carrying amounts of tlre Companv's financial instruments. rvhich include cash and cash equivalents other assets, accounts payable and accrued expenses. approxirnate their fair values due to their shorl maturities.

#### Income Ttres

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Notes to the Financial Statements December 31, 2025

The Company, with stockholder's consent, has elected to be taxed as an "S Corporation" under the provisions of the Internal Revenue Code and comparable state income tax law. As an S Corporation, the Company is generally not subject to corporate income taxes and the Company's net income or loss is reported on the individual tax return of the stockholder of the Company.

The Company is subject to Texas franchise tax, which is based on taxable margin, rather than being based on federal taxable income. For the year ended December 31, 2025, the Company recorded \$0 in Texas margin tax expense.

#### Management Review

The Company has evaluated subsequent events through February 4, 2026 the date of the Report of Independent Registered Public Accounting Firm, the date the financial statements were available to be issued. There are no subsequent events requiring recognition or disclosure.

#### Recent Accounting Pronouncements

Accounting standards that have been issued or proposed by Financial Accounting Standards Board ("FASB") or other standards setting bodies are not expected to have material impact on the Company's financial position, results of operations or cash flows.

The Company follows Accounting Standards Update 2023-07 - Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), which expands reportable segment information by requiring companies to disclose, on an annual and interim basis, significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker ("CODM") and included within each reported measure of a segment's profit or loss. ASU 2023-07 also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM makes decisions about allocating resources to segments and evaluating performance.

The Company conducts its business activities and reports financial results as a single reportable brokerage services segment. The CODM makes decisions about allocating resources and assessing performance in a manner consistent with the way the Company operates its business and presents their financial results. The nature of business and accounting policies of the brokerage services segment are the same as described in the description of business and summary of significant accounting policies notes.

The CODM is the Company's FINOP.

#### Note 3 - Property and Equipment

Property and equipment consist of the following at December 31, 2025:

| Computers and equipment                        | 98.620<br>ಳ |  |
|------------------------------------------------|-------------|--|
| Subtotal                                       | 98.620      |  |
| Less accumulated depreciation and amortization | (87.446)    |  |
| l otal                                         | 11.174<br>e |  |

Depreciation expense for the year ended December 31, 2025 was \$5,684.

#### Note 4 - Commitments and Contingencies

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#### Notes to the Financial Statements December 31.2025

On March 1.2019. the Company entered into a membership agreement with WeWork fbr ofllce space. Total rent expense under the agreement was \$9.600 fbr the year ended December 31. 2025.

#### Litigation

-fhe Company fiom time to tirne 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 threaten against the Company. the ultimate disposition of rvhich rvould have a rnaterial irnpact on the Company's financial position. results of operatiorts or cash flows.

#### Risks Manageiltenl

The Company maintains various fonns of insurance that Cornpany's lnanagement believes are adequate to reduce the exposure ofthese risks to an acceptable level.

#### Note 5 - Net Capital Requirements

The Cornpany is subject to the SEC unifbrm net capital rule ("Rule l5c3-1"). which requires the maintenance of a minirnum amount clf net capital and requires that the ratio of aggregate indebtedness to net capital. both as defined. shall not exceed l5 to l. Rule l5c3-l also provides thal equit;- capital rnay not be rvithdrawn or cash dividends paid if the resulting net capital ratio would exceed l0 to I . At December 31,2025. the Companl,had net capital and net capital requiremetrts of \$366,497 and \$13.722, respectively. rvhich was \$352.775 in excess of the required minimum. I'he Company's aggregate indebtedness to net capital ratio was 56. l6 to <sup>I</sup>.

# Note 6 - Concentration

During the vear ended Decernber 31.2025. the Conrpant had one custolner that represented l2ok ol'total revenues.

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#### SCHEDULE I

#### INDBPENDENT INVBSTMENT BANKERS CORP.

Conrputation Net Capital and Aggregate Indebtedness Pursuant to Rule l5c3-l of the Securities and E,xchange commission For the Year Ended Decernber 31.2025

| Total stockholder's equity,qualified fbr net capital                   | 417,433       |  |
|------------------------------------------------------------------------|---------------|--|
| Deductions and/or charges                                              |               |  |
| Non-allowable assets:                                                  |               |  |
| Property and equipment                                                 | .n4           |  |
| Other assets                                                           | 39.762        |  |
| Total deductions and/or charges                                        | 50.936        |  |
| Net capital helbre hairculs on securities                              | 366^491       |  |
| Haircuts on securities                                                 |               |  |
| Net capital                                                            | 366.497       |  |
|                                                                        |               |  |
| Aggregate indebtedness                                                 |               |  |
| Accounts pay'able and accrued expenses                                 | 20s.833       |  |
| Total aggregate indebtedness                                           | \$<br>20s.833 |  |
|                                                                        |               |  |
| Computation of basic net capital requirement                           |               |  |
| Minimum net capital required (greater of \$5.000 or                    |               |  |
| 6213% of aggregate indebtedness)                                       | \$<br>17 1))  |  |
| Net capital in excess ol-minimurn requirernent                         | 352.17 5      |  |
|                                                                        | \$            |  |
| Net capital less greater of l}Yo of aggreuate indcbtedness or 1200% of |               |  |
| minimum net capital required                                           | 345.914       |  |
| Ratio of aggregate indebtedness to net capital                         | 56.16 to I    |  |
|                                                                        |               |  |

Note: The above computation does not difler fiorn the computation of net capital under Rule I 5c3- I as of December 3l ,2025 as reported by Independent Investment Bankers Corp. on.lanuary 19,2026 orr Form X-l7A-5. Accordingly, no rcconciliation is deemed necessar)'.

{15}------------------------------------------------

# lndependent lnvestment Bankers Corp.

Schedule ll & Schedule lll December 31.,2025

#### Schedule II

Computation fbr Determination of Reserve Requirernents Under Rule l5c3-3 of the Securities and E.xcharrse Comm i ssion

With respectto computation fbrdetermirration of rcserve requirements under Rule l5c3-3. the Company does not claim an exemptiot.t fiom Rule l5c3-3 in rcliance upon fbotnote 74 of SIIC Release NO. 34- 10013 dated July 30.2013. and as discussed in Question 8 on the related F'AQ released by StrC staff. The Company does not hold funds or securities fbr. or owe rn()ne) ol seculities to. customers.

### Schedule III

Infbrntation Relating to'l'he Possession or Clontrol Requirements [Jnder Rule l5c3-3 of the Sccr-rrities and Exchange Commission

With respecttothe infbrmation relatingtothe possession orcontrol requirernents under Rule l5c3-i. the Cornpany does notclaim an exemption fiorn Rulc l5c3-i in reliance Lrpon fbotnote 74 of SEC Release NO.34-70073 dated July 30.2013. and as discussed in Question 8 on the related FAQ released by SEC staff'. The Cornpany' did not rnaintain possession or control o[ anl custornel' lunds or sccurities.

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#### REPORT OF INDEPENDENT REGIS'|ERED PUBt,IC ACCOUNTING FIRM

'l'o the Board of Directors and

Stockholder of lndependent lnvestment Bankers Corp.

#### Opinion on the Financial Statements

We have audited the accornpanying statelltent of flnancial condition of Independent Investment Bankers Corp. as of December 31. 2025. the related statements of operations, changes in stockholde r's equity,. and cash f-lorvs fbr the year then ended. and the related notes (collectively referred to as the "financial statements"). ln our opinion. the financial statemeltts present lairly, in all material respects. the flnancial position of Independent Investment Bankers Corp. as of Decentber jl. 2025. and the results of its operations and its cash flows lor the year then ended in confbrmity with accourrting principles generally accepted in the United States of Anrerica.

#### Basis for Opinion

'fhese flnancial statements are the respottsibilitl,'of Indepenclent Investment Bankers Corp.'s managentent. Our responsibility is to express an opinion on Independent Investment Bankers Corp.'s financial statements based on our audit. We are a public accounting frrm registered with the Public Companv Accounting Oversight Board (tJnited States) (PCAOB) and are required to be independent with respect to Independent lnvestment Bankers Corp. in accordance with the U.S. federal securities larvs and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordalrce with the standards of the PCAOB. Those standards require that we plan and perfbrm the audit to obtain reasonable assurance about rvhether the llnancial statements are fiee of material misstatement. whether due to error or fiaud. Our audit included perfbrming procedures to assess the risks of material rnisstatement of the t'inancial statements. whether due to error or fiaud. and perfbrrning proce<iures that respond to those risks. Such procedures included eramirling. on a test basis. evidence regarding the amounts and disclosr-rres in the flnancial statements. Our audit also included evaluating the accounting principles r-rsed and significant estimates made by management. as well as evaluating the overall presentation olthe financial statements. We believe that our audit provides a reasonable basis fbr our opinion.

Auditor's Report on Supplemental Information 'fhe Cotnputation of Net Capital and Aggregate Indebtedness Pursuant to Rule l5c3-l o1'the Securities and Exchange Commission (Schedule l). the Computatiott lbr Deterrnination ol-Reserve Requiremepts Under Rule l5c3-3 of the Securities and Exchange Commission (Schedule II) and the Infbrrnation Relatilg to the Possessiop or Control Requirements Under Rule l5c3-3 of the SecLrrities and E,rchange Cornmission (SchedLrle III) (the "supplernental Information") has been subiected to audit procedures pertbrrned in coniunction with the audit of Ipdependent Irrvestment Bankers Corp.'s flnancial statements. The supplernental information is the responsibility of Independent Investment Bankers Corp.'s management. Our audit procedures inclLrded determining rvhether the supplemental information reconciles to the financial statemettts or tlte Lrnderlying accounting arrd other records. as applicable. and perforrning procedures to test the completeness and accuracy of the intbrrnation presented in the supplemental infbrmatiol. I' fbrming our opinion on the supplemental infbrmation. lve et,aluated w,hether the supplemental information. including its fbrm and content. is presented in confbrmitl,with l7 C.F.R. N240.17a-5. ln ouropinion. the Supplemental Inlbrmation is fairly stated. in all material respects, in relation to the frnancial statements as a rvhole.

BAUER & COMPANY, LLC

Saoro & Co^7auy, //C

we have served as Independent Investment Bankers Corp.'s aLrditor since 2014

Austin. Texas February 4,2026 Ecuer & Ccmpcnv, riC P.O. Bcx 27887 Ausiin,iX78755 1 ei 51 2.7 31.35 I 8 I w^yw. Dcuercndccnrpc n\ "CCrt

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February 4, 2026

#### INDEPENDENT INVESTMENT BANKERS CORP. EXEMPTION REPORT YEAR ENDED DECEMBER 31, 2025

Independent Investment Bankers Corp. (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-5(d)(1) 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 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 brokerdealers: participating in distributions of securities in accordance with the requirements of paragraphs (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 15c2-4 and/or funds received and promptly transmitted for effecting transactions via 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. Dante Fichera, swear that, to my best knowledge and belief, this Exemption Report is true and correct.

Dante Fichera, President INDEPENDENT INVESTMENT BANKERS CORP.

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#### REPORT OF INDEPENDENT RECISTERED PUBLIC ACCOUNTINC FIRM ON APPLYING AGREED-UPON PROCEDURES

To the tsoard of Directors and Stockholder of lndependent Investment Bankers Corp.

We have performed the procedures included in Rule l7a-5(e)(4) under the Securities Exchange Act of 1934 and in the Securities Investor Protection Corporation (SIPC) Series 600 Rules. which are enurrerated belou'on the accotnpanying General Assessrnent Reconciliation (Form SIPC-7) for the year ended December 31. 2025. Management of Independent Investment Bankers Corp. (the "Company") is responsible for its Fornr SIPC-7 and fbr its cornpliance with the applicable instructions on Form SIPC-7.

Management of the Company has agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose of assisting you and SIPC in evaluating the Cornpany's compliance with the applicable instructions on F'omt SIPC-7 for the year ended Decerrber 31, 2025. Additionally, SIPC has agreed to and acknowledged that the procedures performed are appropriate for their intended purpose. This report rnay not be suitable for any other purpose. The procedures performcd may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and. as such. users are responsible for determining lvhether the procedures perforrned are appropriate for their purposes. The sufficiency of these procedures is solely the responsibility of those parties specified in this repon. Consequently. we rnake no representation regarding the sufficiency of the procedures described belolv 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:

- l) Compared the listed assessment paytnents in Form SIPC-7 with respective cash disbursernent records entries. noting no differences:
- 2) Compared the Total Revenue amounts reporled on the,Annual Audited Report Fonn X-l7A-5 Part lll for the year ended December il, 2025 with the Total Revenue amount reported in Form SIPC-7 for the year ended December 31. 2025, noting no differences;
- 3) Compared any adjustments reported in Form SIPC-7 rvith supporting schedules and rvorking papers. noting no ditferences;
- 4) Recalculated the arithmetical accuracy olthe calculations reflected in Fon.n SIPC-7 and in the related schedules and working papers supporting the adjustments. noting no differences: and
- 5) Compared the amount of any overpayment applied to the current assessment with the FoTm SIPC-7 on which it rvas originally computed. noting no differences.

We were engaged by the Company to perfbrrn this agreed-upon procedures engasement and conducted our engagement in accordance with attestation standards established by the AICPA and in accordance with the standards of the Public Company' Accounting Oversight Board (United States). We rryere not engaged to and did not conduct all examination or a review engagement. the objective of which would be the expression of an opinion or conclusion. respectively'. on the Company's Fornt SIPC-7 and for its compliance with the applicable instructions on Form SIPC-7 for the !'ear ended December 31.2025. Accordingll'. we do not express such an opinion or conclusion. Had rve perforrned additional procedures, other rnatters rnight have come to our attention that rvould have been reported to you.

We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.

1'his report is intended solely for the information and use of the ('ompany and SIPC and is not intended to be and should not be used by anyone other than these specified parties.

BAUER & COMPANI', LI,C

6oorn & Co^pa,ry,, //C

Austin, Texas February 4^2026

Bcvei'& CompcnY, LLC P.O. Box 2/887 Austin,TX7E755 T ei 51 2.7 31.35 I 8 I www. bcue?'crdcornpc ny "ccm


Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.