# COLLECTABLE SECURITIES X-17A-5 (2026-03-03) — Broker-dealer annual report - Company: COLLECTABLE SECURITIES - Form: X-17A-5 - Filed: 2026-03-03 - Period: 2025-12-31 - Accession: 0001877876-26-000004 - CIK: 1877876 - File #: 8-70774 - Type: Broker-dealer - Material weakness: No - Auditor: LMHS P.C. - Auditor location: Norwell, MA - Contact: Yuen Na Chun - Phone: 9176017066 - Email: yuen@collectablesecurities.com - Website: collectablesecurities.com - Signed by: Maria Minguez (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1877876/000187787626000004/cose25sofc.pdf --- {0}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden # ANNUAL REPORTS FORM X-17A-5 PART III | 8-70774 | | | | | |---------------------------|--|--|--|--| | SEC FILE NUMBER | | | | | | 12
hours per response: | | | | | | | | | | | MM/DD/YY FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 AND ENDING 12/31/25 filing for the period beginning 01/01/25 MM/DD/YY A. REGISTRANT IDENTIFICATION # NAME OF FIRM: Collectable Securities LLC TYPE OF REGISTRANT (check all applicable boxes): | Broker-dealer □ Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) # 484 Broome Street | (No. and Street) | | | | | | | | | |--------------------------------------------------------------------------------------------------------------------------|--------------------------------|-----------------|--------------------------------|--|--|--|--|--| | New York | NY | | 10013 | | | | | | | (City) | (State) | | (Zip Code) | | | | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | | | | Yuen Na Chun | 9176017066 | | yuen@collectablesecurities.com | | | | | | | (Name) | (Area Code - Telephone Number) | (Email Address) | | | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing *
LMHS, P.C. | | | | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | | | | | | 80 Washington Street, Building S Norwell | | MA | 02061 | | | | | | | (Address)
02/24/2009 | (City) | (State)
3373 | (Zip Code) | | | | | | | (Date of Registration with PCAOB)(if applicable)
(PCAOB Registration Number, if applicable)
FOR OFFICIAL TICE ONLY | | | | | | | | | FOR OFFICIAL USE ONLY \* Claims for exemption from the requirement that the annual reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(1)(ii), if applicable. Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. {1}------------------------------------------------ # **Collectable Securities LLC** **(A wholly owned subsidiary of Collectable Technologies Inc.) Statement of Financial Condition Pursuant to Rule 17a-5 under the Securities Exchange Act of 1934 December 31, 2025** {2}------------------------------------------------ #### **This report \*\* contains (check all applicable boxes):** - [x] Independent Auditors' Report. - [x] Facing Page. - [x] Statement of Financial Condition. - [ ] Statement of Operations. - [ ] Statement of Changes in Member's Equity. - [ ] Statement of Cash Flows. - [ ] Statement of Changes in Liabilities Subordinated to Claims of General Creditors (not applicable). - [ ] Computation of Net Capital for Brokers and Dealers Pursuant to Rule 15c3-1 under the Securities Exchange Act of 1934. - [ ] Computation for Determination of Reserve Requirements for Brokers and Dealers Pursuant to Rule 15c3-3 under the Securities Exchange Act of 1934. - [ ] Information Relating to the Possession or Control Requirements for Brokers and Dealers Pursuant to Rule 15c3-3 under the Securities Exchange Act of 1934 (not applicable). - [ ] A Reconciliation, including appropriate explanations, of the Computation of Net Capital Pursuant to Rule 15c3-1 (included with item (g)) and the Computation for Determination of Reserve Requirements Under Rule 15c3-3 (included in item (g)). - [ ] A Reconciliation Between the Audited and Unaudited Statements of Financial Condition With Respect to Methods of Consolidation (not applicable). - [x] An Affirmation. - [ ] A copy of the SIPC Supplemental Report. - [ ] A report describing any material inadequacies found to exist or found to have existed since the date of the previous audit (Supplemental Report on Internal Control). - [ ] Report of Independent Registered Public Accounting Firm regarding Rule 15c3-3 exemption report. - [ ] Management Statement Regarding Compliance with the Exemption Provisions for SEC Rule 15c3-3 - *\*\* For conditions of confidential treatment of certain portions of this filing, see section 240.17a-5(e)(3).* {3}------------------------------------------------ #### OATH OR AFFIRMATION | Maria Minquez | swear (or affirm) that, to the best of my knowledge and belief, the | | |------------------------------------------------------------------------|---------------------------------------------------------------------|-------| | financial report pertaining to the firm of Collectable Securities, LLC | | as of | | Docampor 21 | | | December 31, 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. | Signature: | | |---------------|---| | Title:
CEO | D | #### This filing \*\* contains (check all applicable boxes): - = (a) Statement of financial condition. - = (b) Notes to consolidated statement of financial condition. - [ {c} Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of comprehensive income (as defined in § 210.1-02 of Regulation S-X). - [ (d) Statement of cash flows. - [ (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - [ (f) Statement of changes in liabilities subordinated to claims of creditors. - [g) Notes to consolidated financial statements. - [ (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - [ (i) Computation of tangible net worth under 17 CFR 240.18a-2. - [ [j] Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - [ (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - [1) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. - [ (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - [n] Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable. - □ (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist. - □ (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - | |q) Oath or affirmation in accordance with 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. - [r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - [ (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - | |t) Independent public accountant's report based on an examination of the statement of financial condition. - [ (u) Independent public accountant's report based on an examination of the financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - | (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - □ (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - | (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.17a-12, as applicable. - □ (y) Report describing any material inadequacies found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). - □ (z) Other: - \*\* To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(2), as applicable. {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) *Report of Independent Registered Public Accounting Firm* To The Members Collectable Securities, LLC Englewood, Colorado #### *Opinion on the Financial Statements* We have audited the accompanying statement of financial condition of Collectable Securities, LLC, as of December 31, 2025, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of Collectable Securities, LLC as of December 31, 2025, and the results of its operations and its cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America. #### *Basis for Opinion* These financial statements are the responsibility of the entity's management. Our responsibility is to express an opinion on these financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to Collectable Securities, LLC in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion. audit a re LMHS, P.C. We have served as Collectable Securities, LLC's auditor since 2023. Norwell, Massachusetts February 27, 2026 ![](_page_4_Picture_13.jpeg) ![](_page_4_Picture_15.jpeg) {5}------------------------------------------------ # **Collectable Securities LLC** **(A wholly-owned subsidiary of Collectable Technologies Inc.)** ## **Statement of Financial Condition December 31, 2025** | Assets | | |------------------------------------------------|--------------| | Cash | \$
21,132 | | Prepaid expenses | 477 | | Total assets | \$
21,609 | | Liabilities and Member's Equity
Liabilities | | | Accounts payable and accrued expenses | \$
7,089 | | Total liabilities | 7,089 | | Member's equity | 14,520 | | | | | Total liabilities and member's equity | \$
21,609 | | | | The accompanying notes are an integral part of this financial statement. {6}------------------------------------------------ ## **Collectable Securities LLC (A wholly-owned subsidiary of Collectable Technologies Inc.)** ## **Notes to Statement of Financial Condition December 31, 2025** #### **1. Organization and Business** Collectable Securities LL (the "Company"), a wholly-owned subsidiary of Collectable Technologies Inc. (the "Parent"), is a Delaware limited liability company. The Company is a broker dealer and as such is registered with the Securities and Exchange Commission (the "SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA"). The Company, as a broker-dealer, does not carry margin accounts, promptly transmits all customer funds and delivers all securities received in connection with the Company's activities as a brokerdealer, and does not otherwise hold funds or securities for, or owe money or securities to, customers. The Company is approved to provide investment banking and consulting services. #### **2. Summary of Significant Accounting Policies** #### **Basis of Presentation and Use of Estimates** This financial statement was prepared in conformity with accounting principles generally accepted in the United States of America which 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 statement. Actual results could differ from these estimates. #### Contract Balances Contract assets arise when the revenue associated with the contract is recognized prior to the Company's unconditional right to receive payment under a contract with a customer (i.e., unbilled receivable) and are derecognized when either it becomes a receivable, or the cash is received. Contract liabilities arise upon the earlier of when customers' contractual obligations become payable or payment is made in advance of the Company satisfying its performance obligations under the contract and are derecognized when the revenue associated with the contract is recognized when the performance obligation is satisfied. As of January 1, 2025, and December 31, 2025, the Company had no contract assets and no contract liabilities. #### **Segment Reporting** The Company manages its business and allocates recourses based on the information reviewed by its Chief Operating Decision Maker ("CODM") which has been identified as the Chief Executive Officer ("CEO"). #### **Cash** All cash deposits are held by one financial institution and therefore are subject to the credit risk at that financial institution to the extent these balances are in excess of federal and state insured limits. At December 31, 2025, there was one cash balance held by the Company which was not in excess of federally insured limits. {7}------------------------------------------------ # **Collectable Securities LLC** **(A wholly-owned subsidiary of Collectable Technologies Inc.)** ## **Notes to Statement of Financial Condition December 31, 2025** #### **Income Taxes** The Company is a single member limited liability company and is treated as a disregarded entity for federal income tax reporting purposes. The Internal Revenue Code provides that any income or loss is passed through to the ultimate beneficial individual member for federal, state and certain local income taxes. Accordingly, the Company has not provided for federal and state income taxes. At December 31, 2025, management has determined that the Company had no uncertain tax positions that would require financial statement recognition. This determination is subject to ongoing reevaluation as facts and circumstances may require. #### **Accounts Receivable** The Company's account receivable are carried at cost. The credit risk associated with receivables is that any customers with which it conducts business is unable to fulfill contractual obligations. The allowance for credit losses is based on the Company's expectation of the collectability of such receivables utilizing the CECL framework. The Company considers factors such as historical experience, credit quality, age of balances and current and future economic conditions that may affect the Company's expectation of the collectability in determining the allowance for credit losses. The Company's expectation is that the credit risk associated with receivables is not significant until it is past due based on the arrangement and expectation of collection in accordance with industry standards. The Company records an estimated allowance for credit loss for any balances that are deemed to be uncollectible. Management monitors the credit risk of customers, including historical experience, current conditions, reasonable assurance, and supportable forecasts to determine expected credit loss. As of December 31, 2025, there was no allowance for credit losses. #### **Allowance for Credit Losses** In accordance with Accounting Standards Codification ("ASC") Topic 326, Financial Instruments-Credit Losses ("ASC 326"), the Company measures all current expected credit losses ("CECL") for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The allowance for credit losses is deducted from the amortized cost of the financial asset to present the net amount expected to be collected. #### **3. Related Party Transactions** The Company had a services agreement with its Parent whereby the Parent was to provide certain personal, infrastructure and administrative support, including office space, technology, systems, equipment, and other services. Shared costs were allocated based on the Expense Sharing Agreement ("ESA") between the two companies. Effective January 1, 2024, the Parent amended the ESA so that the Company will not reimburse the Parent for any of the indirect costs the Parent has attributed to and paid on behalf of the Company. The terms of these arrangements may not be the same as those that would otherwise exist or result from agreements and transactions among unrelated parties. #### **4. Fair Value of Financial Instruments** FASB ASC820 defines fair value, establishes a framework for measuring fair value, and establishes a fair value hierarchy which prioritized the inputs to valuation techniques. Fair value is {8}------------------------------------------------ # **Collectable Securities LLC (A wholly-owned subsidiary of Collectable Technologies Inc.)** ## **Notes to Statement of Financial Condition December 31, 2025** 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 liability or, in the absence of a principal market, the most advantageous market for the asset or liability. Valuation techniques that are consistent with the market, income or cost approach, as specified by FASB ASC820 are used to measure fair value. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities the Company has the ability to access. Level 2 inputs are inputs (other than quoted prices included within Level 1) that are observable for the asset or liability, either directly or indirectly. Leve 3 are unobservable inputs for the asset or liability and rely on management's own assumptions about the assumptions that market participants would use in pricing the asset or liability. (The unobservable inputs should be developed based on the best information available in the circumstances and may include the Company's own data.) There were no levels to measure at December 31, 2025. #### **5. Indemnifications and Off-Balance-Sheet Risks** In the ordinary course of business, the Company enters contracts that contain a variety of indemnifications. The Company's maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to the contracts and expects the risk of loss to be remote. #### **6. Regulatory Requirements** The Company is subject to the SEC Uniform Net Capital Rule 15c3-1 under the Securities Exchange Act of 1934, which requires the maintenance of minimum net capital of \$5,000 and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. At December 31, 2025, the Company had net capital of \$14,043 which exceeded the required net capital by \$9,043. During the year ended December 31, 2025, the Company was below the minimum net capital requirement on May 1, 2025. During this period, Company did not conduct securities business. The Company filed the proper notifications with FINRA and the SEC and resumed securities business once net capital was restored above the minimum net capital requirement. The Company operates under the exemptive provision of Rule 15c3-3 paragraph (k)(2)(ii) under the Securities Exchange Act of 1934 and relies 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 referring securities transactions to other broker-dealers. The Company does not handle cash or securities on behalf of customers. {9}------------------------------------------------ ## **Notes to Statement of Financial Condition December 31, 2025** #### **7. Subsequent Events** Subsequent to the statement of financial condition date, the Company was in net capital violation from January 27, 2026 to February 4, 2026. The Company contributed additional capital on February 4, 2026. The Company has implemented procedures intended to prevent recurrence. The Company has evaluated subsequent events through the date these financial statements were issued. No events were noted which would require adjustments or disclosure in the footnotes to the financial statements. #### **8. Going Concern** The Company's member has represented they will contribute additional capital, as needed, ensuring the Company's ability to continue to operate as a going concern. The accompanying financial statement have been prepared on a going concern basis without adjustments for realization in the event the Company ceases to continue as a going concern. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.