# PRE-IPO STREET INC. X-17A-5 (2025-12-05) — Broker-dealer annual report - Company: PRE-IPO STREET INC. - Form: X-17A-5 - Filed: 2025-12-05 - Period: 2025-09-30 - Accession: 0001621396-25-000015 - CIK: 1621396 - File #: 8-69539 - Type: Broker-dealer - Material weakness: Yes - Auditor: Ferrara, CPA - Auditor location: Hamilton, NJ - Contact: Alvaro Pereyra - Phone: 631-595-5305 - Signed by: Alvaro Pereyra (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1621396/000162139625000015/PREIPOAUDIT.pdf --- {0}------------------------------------------------ **\$"B #" B \$" BB&B B %(=037/97B- B -** 73%#99:7B#1| 3%|4oXFLf || )waSfLh!|4^t ||| \*klTYElMJ|EuMdEPM|GpfJM[| Q^qfi|aLe|fLja\_\hL"| | =,'|.02+|5A3&,;| **8-:<6)?4:8B,;@4<,+B@<>@)8?B?:B@5,>B )!-B )-B)8+B) B@8+,BA\*2)8.,B\*?B:-B B** <<<< 3 3; **--** << ; **--** <<< 0'; ;"40''4;- <<<"'\$"\*< ,,< 00,(" !,\$lfMMl| ",\*4)4.7-; - (Tl{| >lElM| << <<<<<< ; CTb|(`KM| +5#1.; '1'91#;; #/'1'91#%8(++%%.,; 6EZM| -\$fME|(`KM| @MWMbR`]M|6rZHMf| -ZETW|\$KKfMkk| **-** < < <8'/5\$<1\$0/264< 1\$<"/.6 (.\$#<(.<6'(4<%(-(.&< '11\$1\$;!; 6EZM| TN|T]KTvTKrEW|klElM|WEkl|NUfkl|E]K|ZTKKWM|]EZM| ;.0\*:.-;'-4'0;+6&; #,\*+4.-; ; \$KKfMkk| (Tlz| >lElM| ; ; ; CTb|(`KM| - **BB\$ B'B :134!)\*: '/::+9\$-: :** (WETZk|N`f|MxMZblT`]|Nd`Z|lRM|fMcrTfMZM]l|lREl|lRM|E]]rEW|fMb`gnk|HM|I`vMfMJ|Hz|mRM|fMb`glk|`N|E]|T]KMbM]KM]l|brHWTI EII`s]lE]l|Zskl|HL|ksbb`flMK|H{|E|klElMZM]l|`N|NEImk|E]K|IUgIrZklE]IMk|fMWTMJ|`]|Ek|lRM|HEkTk|`O|lRM|LyMZblT`]| >MM| (/<|E?MTT|TN|EbbWTIEHWM **.0(&0:7(:.:2(:.0,(&:2(:2:(""2 (&:(: &(.%2 (&:(&2 &: &:2 0:(.%:.:&(2:.-5 .:2(:.0,(&:5&"00:2:(.%: 0,"80::5..&2#8:6" ::(&2.(":&5%.:** {1}------------------------------------------------ | ı. Alvaro Pereyra | swear (or affirm) that, to the best of my knowledge and belief, the | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------| | financial report pertaining to the firm of Pre-IPO Street, Inc. | as of | | alan | , 2025 , 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.
Notary Public | Signaturer
THE STOREST
Title:
CEO
TE OF ALABAN | | This filing ** contains (check all applicable boxes)!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! | | | (a) Statement of financial condition. | | | [ (b) Notes to consolidated statement of financial condition. | | | | (c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of | - - - - - - - - - - - - - - - - - - - - - - - - {2}------------------------------------------------ # **Pre-IPO Street, Inc. (A wholly owned subsidiary of BD 10, Inc.) (SEC I.D. No. 8-69539)** # **Report Pursuant to Rule 17a-5 of** **The Securities and Exchange Commission** *Financial Statements and Supplemental Schedules* **As of and for the Year Ended September 30, 2025** **(Including Report of Independent Registered Public Accounting Firm)** {3}------------------------------------------------ **Ferrara CPA** 100 Horizon Center Blvd. Hamilton, NJ 08691 **Tel:** 609-865-5391 **Fax:** 609-435-3422 #### Report of Independent Registered Public Accounting Firm To: The Stockholder **Pre-IPO Street, Inc.** #### **Opinion on the Financial Statements** I have audited the accompanying statement of financial condition of Pre-IPO Street, Inc. as of September 30, 2025, and the related statements of operations, changes in stockholder equity and cash flows for the year then ended, that are filed pursuant to Rule 17a-5 under the Securities Exchange Act of 1934 and the related notes (collectively referred to as the financial statements). In my opinion, the financial statements present fairly, in all material respects, the financial position of Pre-IPO Street, Inc. as of September 30, 2025 and its results of operations and its cash flows 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 Pre-IPO Street, Inc.'s management. My responsibility is to express an opinion on Pre-IPO Street, Inc.'s financial statements based on my audit. I am a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and I am required to be independent with respect to Pre-IPO Street, Inc. in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. I conducted my audit in accordance with the standards of the PCAOB. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. My audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. My 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. I believe that my audit provides a reasonable basis for my opinion. {4}------------------------------------------------ #### **Supplemental Information** The Schedule I, Computation of Net Capital Under SEC Rule 15c3-1, Schedule II, Computation for Determination of Reserve Requirements and Information Relating to Possession or Control Requirements Under SEC Rule 15c3-3 (*exemption)* has been subjected to audit procedures performed in conjunction with the audit of Pre-IPO Street, Inc.'s financial statements. The supplemental information is the responsibility of Pre-IPO Street, Inc.'s management. My audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming my opinion on the supplemental information, I evaluated whether the supplemental information, including its form and content, is presented in conformity with 17 C.F.R. §240.17a-5. In my opinion, the Schedule I, Computation of Net Capital Under SEC Rule 15c3-1, Schedule II, Computation for Identification of Reserve Requirements and Information Relating to Possession or Control Requirements Under SEC Rule 15c3-3 (*exemption)* is fairly stated, in all material respects, in relation to the financial statements as a whole. *Ferrara CPA* I have served as Pre-IPO Street, Inc.'s auditor since 2025. Ferrara CPA Hamilton, New Jersey December 1, 2025 . {5}------------------------------------------------ # **Pre-IPO Street, Inc.** STATEMENT OF FINANCIAL CONDITION September 30, 2025 # **ASSETS** | Cash | \$
21,553 | |--------------|--------------| | Total Assets | \$
21,553 | # **LIABILITIES AND STOCKHOLDER EQUITY** # Liabilities | Accounts payable and accrued expenses | \$
5,500 | |----------------------------------------------|--------------| | Commitments and Contingencies (Note 6) | | | Stockholder Equity | | | Common stock - \$0 par value - 300 shares | 100 | | authorized, 20 shares issued and outstanding | | | Additional paid-in capital | 123,967 | | Retained earnings | 33,435 | | Less: Treasury stock, 180 shares at cost | (141,449) | | Total Stockholder Equity | 16,053 | | Total Liabilities & Stockholder Equity | \$
21,553 | | | | See accompanying notes. {6}------------------------------------------------ # **Pre-IPO Street, Inc.** STATEMENT OF OPERATIONS Year Ended September 30, 2025 # REVENUES | Other Income
\$
20,104
OPERATING EXPENSES
Licenses & regulatory fees
6,775
Professional Fees
10,257
General and administrative
4,167
Total Expenses
21,199
Net Loss
\$
(1,095) | | | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | See accompanying notes. {7}------------------------------------------------ #### **Pre-IPO Street, Inc.** STATEMENT OF CHANGES IN STOCKHOLDER EQUITY Year Ended September 30, 2025 | | | | Stockholder Capital | | | | |-------------------------------|---------------------|--------|---------------------|-------------------|----------------------|--------------| | | Number of
Shares | Amount | Paid-In
Capital | Treasury
Stock | Retained
Earnings | Total | | Balance at September 30, 2024 | 20 | 100 \$ | 115,467 \$ | (141,449) | \$
34,530 | \$
8,648 | | Net loss | | | | | (1,095) | (1,095) | | Capital contributed | | | 8,500 | | | 8,500 | | Balance at September 30, 2025 | 20 | 100 \$ | 123,967 \$ | \$
(141,449) | \$
33,435 | \$
16,053 | {8}------------------------------------------------ # **Pre-IPO Street, Inc.** STATEMENT OF CASH FLOWS Year Ended September 30, 2025 # **CASH FLOWS FROM OPERATING ACTIVITIES** | Net (Loss) | \$
(1,095) | |-----------------------------------------------|---------------| | (Increase) Decrease in Operating Assets: | | | Prepaid expense | 1,775 | | Increase (Decrease) in Operating Liabilities: | | | Accounts payable and accrued expenses | 1,000 | | Net cash provided by operating activities | 1,680 | | Cash Flows From Financing Activities | | | Capital contributions | 8,500 | | Net cash provided by financing activities | 8,500 | | Net increase in cash | 10,180 | | Cash at Beginning of Year | 11,373 | | Cash at End of Year | \$
21,553 | See accompanying notes. {9}------------------------------------------------ ### **(1) Organization and Nature of Business** Pre-IPO Street, Inc., *f/k/a Cross Current Capital, Inc.* (the Company) is a New York corporation conducting business as securities broker dealer. The Company is registered with the Securities and Exchange Commission (SEC) as a Broker Dealer pursuant to the Securities Exchange Act of 1934 and is a member of the Financial Industry Regulatory Authority ("FINRA"). The Company's activities are subject to significant risks and uncertainties, including the risk and uncertainty that planned operations do not materialize. The Company holds no customer funds or securities and does not participate in the underwriting of securities. Pursuant to the Company's Membership Agreement with FINRA the Company is not claiming an exemption from the Customer Protection Rule requirements of Rule 15c3-3 in consideration of the 2013 Release 34-70073. #### **(2) Significant Accounting Policies** (a) Basis of Presentation The financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") unless otherwise disclosed. #### (b) Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. #### (c) Statement of Cash Flows For purposes of the statement of cash flows the Company has defined cash equivalents as highly liquid investments, with original maturities of less than three months, that are not held for sale in the ordinary course of business. The company has adopted the indirect method of presenting the statement of cash flows in accordance with current authoritative pronouncements. There were no cash equivalents at September 30, 2025. Cash is held at one financial institution and is insured by the Federal Deposit Insurance Corporation. {10}------------------------------------------------ #### (d) Income Taxes Certain transactions may be subject to accounting methods for federal and state income tax purposes which differ from the accounting methods used in preparing the financial statements. Accordingly, the net income or loss of the Company and the resulting balances in the Company's' capital account reported for federal and state income tax purposes may differ from the balances reported for those same items in these financial statements. The Company recognizes and measures its unrecognized tax benefits in accordance with ASC Topic 740, Income Taxes. Under that guidance the Company assesses the likelihood, based on their technical merit, that tax positions will be sustained upon examination based on the facts, circumstances and information available at the end of the financial reporting period. The measurement of unrecognized tax benefits is adjusted when new information is available, or when an event occurs that requires a change. Management has determined that the Company has no uncertain tax positions that would require financial statement recognition at September 30, 2025. This determination will always be subject to ongoing evaluation as facts and circumstances may require. In addition, no income tax related penalties or interest have been recorded for the year ended September 30, 2025. (e) General and Administrative Expenses General and administrative costs are expensed as incurred. (f) Fair Value Hierarchy FASB ASC 820 defines fair value, establishes a framework for measuring fair value, and establishes a fair value hierarchy which prioritizes the inputs to valuation techniques. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market. Valuation techniques that are consistent with the market, income or cost approach, as specified by FASB ASC 820, are used to measure fair value. {11}------------------------------------------------ #### (f) Fair Value Hierarchy – *continued* The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels: - Level 1. Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. - Level 2. Inputs other than quoted prices included in level 1 that are observable for the assets or liability either directly or indirectly. - Level 3. Inputs are unobservable for the assets or liability. The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, the liquidity of markets, and other characteristics particular to the security. To the extent the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining the fair value is greatest for instruments categorized in level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement in its entirety. For further discussion of fair value, see "Note 5 Fair Value" # **(3) Net Capital Requirements** The Company is subject to the SEC Uniform Net Capital Rule (SEC Rule 15c3-1), which requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1 (and the rule of the "applicable" exchange 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 September 30, 2025, the Company had net capital of \$16,053 which was \$11,053 in excess of its required minimum net capital of \$5,000. The Company's net capital ratio was 0.3426 to 1. Advances to affiliates, contributions, dividends and other withdrawals are subject to certain notification and other requirements of Rule 15c3-1 and other regulatory rules. The Company did not claim exemption from the reserve requirements of Rule 15c3-3 (Customer Protection Rule) pursuant to its membership agreement with FINRA. {12}------------------------------------------------ #### **(4) Concentrations and Economic Dependency** The Company maintains its cash at a financial institution. The Company has not experienced any losses in such accounts through September 30, 2025. As of September 30, 2025, there were no cash balances held in any accounts that were not fully insured. #### **(5) Fair Value** Cash, accounts payable and accrued expenses are reflected in the financial statements at carrying value which approximates fair value because of the short-term maturity of these instruments. #### **(6) Commitments and Contingencies** Pursuant to Securities and Exchange Commission Rule 15c3-1(e)(2) the Company may not authorize dividends to its stockholder if such dividends cause the Company's net capital to fall below 120% of the Company's minimum net capital requirement. As of September 30, 2025, the Company was not in violation of this requirement. The Company had no lease or equipment rental commitments, no underwriting commitments, no contingent liabilities, and had not been named as a defendant in any lawsuit at September 30, 2025 or during the reporting period. # **(7) Related Party Transactions** The Company is wholly owned by BD 10 Inc., a related party. The Company has an expense sharing agreement with BD 10 Inc. These include but are not limited to professional fees and general and administrative fees. BD 10 Inc. has indicated that it will not seek reimbursement for these expenses in the future. # **(8) Anti-Money Laundering Policies and Procedures** The Company is required to implement policies and procedures relating to anti-money laundering, compliance, suspicious activities, and currency transaction reporting and due diligence on customers who open accounts with the Company. At September 30, 2025 the Company had implemented such policies and procedures. # **(9) Liabilities Subordinated to Claims of General Creditors** As of September 30, 2025, the Company had not entered into any subordinated liability agreements. {13}------------------------------------------------ #### **(10) Exemption from Rule 15c3-3** The Company is exempt from the Securities and Exchange Commission Rule 15c3-3 and, therefore, is not required to maintain a "Special Reserve Bank Account for the Exclusive Benefit of Customers". # **(11) Regulation** The Company is registered as a broker-dealer with the SEC. The securities industry in the United States is subject to extensive regulation under both federal and state laws. The SEC is the federal agency responsible for the administration of the federal securities laws. Much of the regulation of broker-dealers has been delegated to self-regulatory organizations, such as the Financial Industry Regulatory Authority, which has been designated by the SEC as the Company's primary regulator. These self-regulatory organizations adopt rules, subject to approval by the SEC, that govern the industry and conduct periodic examinations of the Company's operations. The primary purpose of these requirements is to enhance the protection of customer assets. These laws and regulatory requirements subject the Company to standards of solvency with respect to capital and financial reporting requirements. #### **(12) Segment Reporting** The Company is engaged in a single line of business as a securities broker-dealer. The Company has identified its CEO as the chief operating decision maker ("CODM"), who uses net income to evaluate the results of the business, predominantly in the forecasting process, to manage the Company. Additionally, the CODM uses excess net capital (see Note 3), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to reinvest profits or pay dividends. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the Company as a whole. The accounting policies used to measure the profit and loss of the segment are the same as those described in Note 2 – Significant Accounting Policies above. #### **(13) Subsequent Events** The Company has evaluated subsequent events occurring after the statement of financial condition date through the date of December 1, 2025, which is the date the financial statements were available to be issued. Based on this evaluation, the Company has determined that no material subsequent events have occurred which would be required to be recognized in the financial statements as of September 30, 2025. {14}------------------------------------------------ Supplementary Information Pursuant to Rule 17a-5 of the Securities Exchange Act of 1934 As of September 30, 2025 {15}------------------------------------------------ # **Pre-IPO Street, Inc.** COMPUTATION OF NET CAPITAL IN ACCORDANCE WITH RULE 15c 3-1 September 30, 2025 #### **Schedule I** | NET CAPITAL | | | |-------------------------------------------------------------------------------------------------------------|-------------|--------| | Total Equity | \$ | 16,053 | | less Non-allowable assets: | | | | Non-allowable assets | | 0 | | Tentative Net Capital | | 16,053 | | Less Haircuts | | - | | NET CAPITAL | \$ | 16,053 | | CAPITAL REQUIREMENTS | | | | 6 2/3 % of aggregate indebtedness | \$ | 366 | | Minimum capital requirement | | 5,000 | | Net capital in excess of requirements | \$ | 11,053 | | Ratio of Aggregate Indebtedness to
Net Capital | 0.3426 to 1 | | | Reconciliation with Company's Computation (included in
Part II of Form X-17A-5 as of September 30, 2025) | | | | Net Capital, as reported in Company's Part II unaudited Focus Report
AS AMENDED November 26, 2025 | \$ | 16,053 | | Net Capital, per above | | 16,053 | | Difference | | - | There are no material differences between the net capital reflected in the above computation and the net capital reflected in the Company's FOCUS Report as of September 30, 2025. {16}------------------------------------------------ #### **Pre-IPO Street, Inc.** # **Computation for Determination of Reserve Requirements and Information Relating to Possession or Control Requirements Under Rule 15c3-3 of the Securities and Exchange Act of 1934 September 30, 2025** Schedule II The Company does not hold customers' cash or securities and, therefore, has no obligations under SEC Rule pursuant to Footnote 74 of SEC Release 34-70073 under the Securities Exchange Act of 1934. {17}------------------------------------------------ # **Ferrara CPA** 100 Horizon Center Blvd. Hamilton, NJ 08691 **Tel:** 609-865-5391 **Fax:** 609-435-3422 #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM # To: The Stockholder **Pre-IPO Street, Inc.** I have reviewed management's statements, included in the accompanying Rule 15c3-3 Exemption Report, in which (1) Pre-IPO Street, Inc. (the "Company") stated that the Company does not hold customers' cash or securities on behalf of customers and limits its business to private placement transactions and, therefore has no obligations under Rule 15c3-3 pursuant to Footnote 74 of SEC Release 34-70073 under the Securities Exchange Act of 1934. In addition, as a result of the Company's having no obligations under SEC Rule 15c3-3, it may file an Exemption Report and (2) the Company stated that it had no exceptions under SEC Rule 15c3-3 throughout the year ended September 30, 2025. The Company did not directly or indirectly receive, hold or otherwise owe funds or securities for or to customers, did not carry accounts of or for customers, and did not carry PAB accounts as defined in Rule 15c3-3. Management is responsible for compliance with 17 C.F.R. § 240. 15c3-3 and its statements. My review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included inquiries and other required procedures to obtain evidence about the Company's compliance with 17 C.F.R. § 240. 15c3-3. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's statements. Accordingly, I do not express such an opinion. Based on my review, I am not aware of any material modifications that should be made to management's statements referred to above for them to be fairly stated, in all material respects, based on Rule 15c3-3 under the Securities Exchange Act of 1934. *Ferrara CPA* Ferrara CPA Hamilton, New Jersey December 1, 2025 {18}------------------------------------------------ # **Pre-IPO Street, Inc. Exemption Statement Pursuant to SEC Rule 17a-5 For the Year Ended September 30, 2025** # STATEMENT OF EXEMPTION FROM SEC RULE 15c3-3 # **Pre-IPO Street, Inc.** Pre-IPO Street, Inc. (the "Company") is a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (the "SEC"). To the best of its knowledge and belief; the Company states the following: The Company does not hold customers' cash or securities on behalf of customers, limits its business to private placement transactions and, therefore has no obligations under SEC Rule 15c3-3 pursuant to Footnote 74 of SEC Release 34-70073 under the Securities Exchange Act of 1934. Further, the Company did not directly or indirectly receive, hold or otherwise owe funds or securities for or to customers, did not carry accounts of or for customers, and did not carry PAB accounts as defined in Rule 15c3-3. In addition, as a result of the Company having no obligations under SEC Rule 15c3-3, it may file an Exemption Report. The Company had no exceptions under SEC Rule 15c3-3 throughout the year ended September 30, 2025. Pre-IPO Street, Inc. I, Alvaro Pereyra, swear (or affirm) that, to my best knowledge and belief, this Exemption Report is true and correct. \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ Alvaro Pereyra, CEO Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.