# AREAM ADVISORS LLC X-17A-5 (2026-03-30) — Broker-dealer annual report - Company: AREAM ADVISORS LLC - Form: X-17A-5 - Filed: 2026-03-30 - Period: 2025-12-31 - Accession: 0001911840-26-000001 - CIK: 1911840 - File #: 8-70889 - Type: Broker-dealer - Material weakness: No - Auditor: David Lundgren and Company - Auditor location: Olathe, KS - Contact: Clark Tucker - Phone: 205-721-0507 - Email: clark.tucker@oysterllc.com - Website: oysterllc.com - Signed by: Clark Tucker (Financial & Operations Principal) Original filing: https://www.sec.gov/Archives/edgar/data/1911840/000191184026000001/areamarpublic_1.pdf --- {0}------------------------------------------------ ## **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** OMR APPROVAL 0MB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden # **ANNUAL REPORTS FORM X-17A-5 PART Ill** | hours per response:
12 | |---------------------------| | SEC FILE NUMBER | | 8-70889 | FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange .Act of 1934 | | FILING FOR THE PERIOD BEGINNING O 1/01/2025 | AND ENDING 12/31/2025 | |----------------------|--------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------| | MM/00/YY | | MM/0D/YY | | | A. REGISTRANT IDENTIFICATION | | | | NAME oF FIRM: Aream Advisors LLC | | | [!I Broker-dealer | TYPE OF REGISTRANT (check all applicable boxes):
D Security-based swap dealer
0 Check here if respondent is also an OTC derivatives dealer | D Major security-based swap participant | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | 535 Mission Street - | Office 1720 | | | | (No. and Street) | | | CA | 94105 | | |----------------------------------------------|----------------------------|--| | (State) | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | (205) 721-0507 | clark.tucker@oysterllc.com | | | (Area Code - Telephone Number) | (Email Address) | | | 8. ACCOUNTANT IDENTIFICATION | | | | | | | # David Lundgren and Company (Name - if individual, state last, first, and middle name) | 505 N. Murlen Road | Olathe | KS | 66062 | |-------------------------------------------|-----------------------|---------|------------------------------------------------| | (Address) | (City) | (State) | (Zip Code) | | l"
01/05/2015 | | 6075 | | | of Registratioo wah PCAOB)(if applicable) | | | I
{PCAOB RegistraUOo Numbe,, if applicable) | | | FOR OFFICIAL USE ONLY | | | | | | | | • Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public accountant must be supported by a statement of facts and circumstances retied on as the basis of the exemption. See 17 CFR 240.17a-S(e)(l)(ii), if applicable. **Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid 0MB control number.** {1}------------------------------------------------ #### OATH OR AFFIRMATION | I, Vincent Cardinal | swear (or affirm) that, to the best of my knowledge and belief, the | | |----------------------------------------------------------------|---------------------------------------------------------------------|-------| | financial report pertaining to the firm of Aream Advisors, LLC | | as of | 12/31 2~ is true and correct. I further swear (or affirm) that neither the company nor any partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely as that of a customer. > **Signature:** Vincent Watson Cardinal Digitally signed by Vincent Watson Cardinal Date: 2026.01.30 08:14:45-05'00' Title: President ## **This filing\*\* contains (check all applicable boxes):** - iii (a) Statement of financial condition. - iii (b) Notes to consolidated statement of financial condition. - 0 (c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of comprehensive income (as defined in§ 210.1-02 of Regulation S-X}. - D (d) Statement of cash flows. - 0 (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - D (f) Statement of changes in liabilities subordinated to claims of creditors. - 0 (g) Notes to consolidated financial statements. - 0 {h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - 0 (i) Computation of tangible net worth under 17 CFR 240.18a-2. - □ 0) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - D (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - 0 {I) 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. - D (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p){2) or 17 CFR 240.18a-4, as applicable. - 0 (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. - 0 (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - ii (q) Oath or affirmation in accordance with 17CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. - 0 (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - D (s) Exemption report in accordance with 17 CFR 240.17a-S or 17 CFR 240.18a-7, as applicable. - Iii (t) Independent public accountant's report based on an examination of the statement of financial condition. - D (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - 0 (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. - 0 (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. - 0 (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-le or 17 CFR 240.17a-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 240.17a-12(k). D (z)other: \_\_\_\_\_\_\_\_ \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_ - - \*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5{e)(3} or 17 CFR 240.18a-7{d)(2), as applicable. {2}------------------------------------------------ Aream Advisors, LLC Financial Statements and Supplementary Schedules Pursuant to Rule 17a-5 under the Securities Exchange Act of 1934 December 31, 2025 {3}------------------------------------------------ # TABLE OF CONTENTS | | Page No. | |---------------------------------------------------------|----------| | Report of Registered Independent Public Accounting Firm | 1 | | Financial Statements | | | Statement of Financial Condition | 2 | | Notes to the Financial Statements | 3 | {4}------------------------------------------------ DAVID B. LUNDGREN, **MBA,** CPA TELEPHONE (91 3) 782-9530 FACSIMILE (91 3) 782·9564 #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Member of Aream Advisors, LLC #### **Opinion on the Financial Statements** We have audited the accompanying statement of financial condition of Aream Advisors, LLC as of December 31, 2025, the related statements of income, changes in member's equity, and cash flows for the year then ended, and the related notes and schedules (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of Aream Advisors, 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 Aream Advisors, LLC's management. Our responsibility is to express an opinion on Aream Advisors, LLC's 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 Aream Advisors, 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. #### **Auditor's Report on Supplemental Information** Schedule I - Computation of Net Capital Under SEC Rule 15c3-1, Schedule II - Computatio!1 for Determination of Reserve Requirement Under SEC Rule 15c3-3 and Schedule Ill - Information Relating to Possession and Control Requirements for Brokers and Dealers Under SEC Rule 15c3-3 have been subjected to audit procedures performed in conjunction with the audit of Aream Advisors, LLC's financial statements. The supplemental information is the responsibility of Aream Advisors, LLC's management. Our 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 our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with 17 C.F.R. §240.17a-5. In our opinion, the Schedule I - Computation of Net Capital Under SEC Rule 15c3-1 , Schedule II - Computation for Determination of Reserve Requirement Under SEC Rule 15c3-3 and Schedule Ill - Information Relating to Possession and Control Requirements for Brokers and Dealers Under SEC Rule 15c3-3 are fairly stated,· I material respects, in relation to the financial statements as a whole. We have served as Aream Advisors, LLC's auditor since 2023. Olathe, Kansas March 27, 2026 {5}------------------------------------------------ ## **AREAM ADVISORS, LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2025** | Assets | | |---------------------------------------------|---------------| | Cash and cash equivalents | \$
883,591 | | Other assets | 67,318 | | 39,940
Equipment | | | 37,552
Furniture & fixtures | | | (63,652)
Accumulated depreciation | | | Fixed assets | 13 840 | | Total Assets | \$
964,749 | | Liabilities and Member's Equity | | | Payables to Broker Dealers, Other | 0 | | Accounts payable and other accrued expenses | 306,603 | | Related parties liabilities | 96,330 | | Total Liabilities | 402,933 | | Member's Equity | 561,816 | | Total Liabilities and Member's Equity | \$
964,H9 | **These financial statements and schedules are deemed confidential pursuant to subparagraph (e)(3) of Rule 17a-5 of the Securities Exchange Act of 1934.** **The accompanying notes are an integral part of these financial statements.** {6}------------------------------------------------ ## **.:L. Nature of Business** Aream Advisors, LLC (the "Company"), a Limited Liability Company, is a broker-dealer registered with the Securities and Exchange Commission and a member of the Financial Industry Regulatory Authority ("FINRA"). The Company engages in the following types of business: private placement of securities, mergers & acquisitions and the chaperoning of foreign brokerdealers pursuant to Rule 15a-6 in which the foreign broker-dealer's business under 15a-6 is limited to private placements of securities. The Company has a minimum net capital requirement of\$5,000. The Company does not claim an exemption from SEA Rule 15c3-3, in reliance on footnote 74 to Release 34-70073. The Company does not (1) directly or indirectly receive, hold, or otherwise owe funds or securities for, or to, customers, (2) does not carry accounts of or for customers and (3) does not carry PAB accounts. #### **2. Summary of Significant Accounting Policies** The Company follows accounting principle generally accepted in the United States of America ("GAAP") as established by the Financial Accounting Standards Board ("FASB") to ensure consistent reporting of financial condition, results of operations, and cash flows. #### **Management Estimates and Assumptions** The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Future events and their effects cannot be predicted with certainty: accordingly, accounting estimates require the exercise of judgement. Accounting estimates used in the preparation of these financial statements change as new events occur, as more experience is acquired, as additional information is obtained, and as the operating environment changes. #### **Revenue Recognition** FASB Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers is a comprehensive revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. The Company recognized revenue under ASC 606. The guidance requires an entity to follow a five-step model to (a) identify the contract(s) with a customer, (b) identify the performance obligations in the contract, (c) determine the transaction price, (d) allocate the transaction price to the performance obligations in the contract, and (e} recognize revenue when (or as) the entity satisfies a performance obligation. In determining the transaction price, an entity may include variable consideration only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized would not occur when the uncertainty associated with the variable consideration is resolved. #### **Significant Judgements** The recognition and measurement of revenue is based on the assessment of individual contract terms. Significant judgement is required to determine whether performance obligations are satisfied at a point in time or over time; when to recognize revenue based on the appropriate measure of the Company's progress under the contract; and whether constraints on variable consideration should be applied due to uncertain future events. {7}------------------------------------------------ ## **Cash** The Company maintains cash in bank accounts which, at times, may exceed federally insured limits. The Company has a strong cash position with at least 3 months of liquidity, has not experienced any losses in such accounts and does not believe it is exposed to any significant credit risk on cash. Cash is determined to be cash & cash equivalents of maturity of 90 days or less. #### **Account Receivable and Allowances for Uncollectible Accounts** There were no accounts receivable as of December 31, 2025. Accounts receivable are reported net of any estimated allowance for uncollectible accounts and contractual adjustments. All receivables are uncollateralized. To provide for receivables that could become uncollectible in the future, the Company may establish an allowance for uncollectible accounts to reduce the carrying amount of such receivables to their estimated net realizable value. The allowance for uncollectible accounts is based upon management's assessment of historical and expected net collections, business and economic conditions, and other collection indicators. No allowance was deemed necessary by management as of December 31, 2025. #### **Financial Instruments- Credit Losses** The Company accounts for estimated credit losses on financial assets measured at an amortized cost basis and certain off-balance sheet credit exposures in accordance with FASB ASC 325-20, Financial Instruments - Credit Losses. ASC 326-20 requires the Company to estimate expected credit losses over the life of its financial assets and certain off-balance sheet exposures as of the reporting date based on relevant information about past events, current conditions, and reasonable and supportable forecasts. The Company records the estimate of expected credit losses as an allowance for credit losses. For financial assets measured at an amortized cost basis, the allowance for credit losses is reported as a valuation account on the balance sheet that adjusts the asset's amortized cost basis. Changes in the allowance for credit losses are reported in credit loss expense, if applicable. The Company estimates expected credit losses over the life of the financial assets as of the reporting date based on relevant information about past events, current conditions, and reasonable and supportable forecasts. #### **Depreciation Policy** Fixed assets will be depreciated using a straight-line over 3 years. #### **Related Parties** The Company follows ASC 850, Related Party Disclosures, for the identification of related parties and disclosure of related party transactions. During the year, approximately \$2,600,836 of revenue was from Aream Group LLP, an entity under common ownership with the Company. The Company also paid \$8,100,676 in expense to Aream Group LLP in 2025. As of December 31 ', 2025, the Company has a payable balance of \$96,330 to Aream Group LLP, which is included in accounts payable and accrued expenses on the accompanying Statement of Financial Condition. #### **Income Taxes** The entity is a limited liability company (LLC); it is taxed as a C corporation for US federal and state income tax purposes. A C corporation is recognized as a separate taxpaying entity; it conducts business and realizes net income or loss as a separate entity. The profit of a corporation is taxed to the corporation when earned and then is taxed to the shareholders when distributed as dividends. {8}------------------------------------------------ ## **Leases** The Company recognized and measured its leases in accordance with FASB ASC 842, Leases. The Company has elected, for all underlying classes of assets, to not recognize right of use assets and lease liabilities for short-term leases of less than 12 months at lease commencement, which do not include an option to renew or purchase the underlying asset that the Company is reasonably certain to exercise. The Company recognized least cost assigned with its short-term leases on a straight-line basis over the lease term. ## **3. Financial Instruments with Off-Balance Sheet Risk and Contingencies** The Company may engage in various corporate financing and investment banking activities in which counterparties primarily include broker-dealers, banks, and other financial institutions. In the event counterparties do not fulfill their obligations, the Company may be exposed to risk. The risk of credit default depends on the creditworthiness of the counterparty or issuer of the instrument. It is the Company's policy to review, as necessary, the credit standing of each counterparty with which it conducts business. The Company's financial instruments, including cash, accounts receivable, accounts payable and other accrued expenses are carried at amounts that approximate fair value due to the short-term nature of those instruments. Due to the nature of the industry, revenue is typically non-recurring. The ongoing operation of the Company is economically dependent on its ability to enter into contracts with new customers. ## **4. Capital Requirements** As a registered broker-dealer, Aream Advisors LLC is subject to the SEC Uniform Net Capital Rule ("Rule 15c3-1") of the Securities Exchange Act of 1934, which requires the maintenance of minimum net capital. The Company follows the alternative method of computing net capital under Rule 15c3-1 which requires that the Company maintain minimum net capital, as defined, equal to the greater of \$5,000 or 6 2/3% of aggregate indebtedness and requires that the ratio of aggregate indebtedness to net capital, as defined shall not exceed 1500%. At December 31, 2025, net capital of \$480,658 exceeded the required net capital minimum of 6 2/3% of aggregate indebtedness by \$453,795. The percentage of aggregate indebtedness to net capital was 83.83% for 2025. ## **5. Commitments and Contingencies** As of December 31, 2025, the Company had no commitments or contingencies that required disclosure. ## **6. Segment Reporting** The Company's investment banking segment derives revenues from customers through private placement of securities, mergers & acquisitions advisory, and the chaperoning of foreign broker-dealers pursuant to Rule 15a-6. The accounting policies for this segment are the same as those described in Note 2, Summary of Significant Accounting Policies. The Company's President assesses performance for the investment banking fee segment and decides allocation of resources based on net income as reported on the income statement and segment assets as reported as total assets on the balance sheet. The Company's President uses net income to evaluate income generated from segment assets (return on assets) in deciding whether to reinvest profits into this segment or other areas, such {9}------------------------------------------------ as paying distributions. The Company has one reportable segment: investment banking as the primary source of its revenue. ## **7. Subsequent Events** The Company has evaluated and noted no events or transactions that occurred after December 31, 2025, through the date that the financial statements were issued, that would require recognition or disclosure in the financial statements. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.