# CBC SECURITIES, INC. X-17A-5 (2025-03-31) — Broker-dealer annual report - Company: CBC SECURITIES, INC. - Form: X-17A-5 - Filed: 2025-03-31 - Period: 2024-12-31 - Accession: 0002015357-25-000003 - CIK: 1071550 - File #: 8-51315 - Type: Broker-dealer - Material weakness: No - Auditor: Ohab and Company - Auditor location: Maitland, FL - Contact: Erin Baskett - Phone: 636-675-3746 - Email: erin.baskett@sgn-global.com - Website: sgn-global.com - Signed by: Erin Baskett (Principal) Original filing: https://www.sec.gov/Archives/edgar/data/1071550/000201535725000003/cbcpub1.pdf --- {0}------------------------------------------------ OMB APPROVAL UNITED STATES OMB Number: 3235-0123 SECURITIES AND EXCHANGE COMMISSION Expires: Nov. 30, 2026 Estimated average burden Washington, D.C. 20549 haurs per response: 12 ANNUAL REPORTS SEC FILE NUMBER FORM X-17A-5 8-51315 PART III FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 1944 (2014) 17 (2010) 17a-5, 17a-12, and 18a-7 under the Securities AND ENDING 12/31/24 01/01/24 FILING FOR THE PERIOD BEGINNING MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION NAME OF FIRM: CBC SECURITIES, INC. TYPE OF REGISTRANT (check all applicable boxes): [ Major security-based swap participant @ Broker-dealer @ Security-based swap 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.) 250 HAMMOND POND PARKWAY UNIT 1412N (No. and Street) 02467 MA NEWTON (State) (Zip Code) (City) PERSON TO CONTACT WITH REGARD TO THIS FILING 636-675-3746 Erin Baskett erin.baskett@sgn-global.com (Area Code = Telephone Number) (Name) (Email Address) B. ACCOUNTANT IDENTIFICATION INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* Ohab and Company, PA (Name - if Individual, state last, first, and middle name) 100 E. Sybelia Avenue, suite 130 Maitland FL 32751 (Address) (City) (State) (Zip Code) 07/28/2004 1839 (Date of Registration with PCAOB)(if applicable) (PCAOB Registration Number, if applicable) 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 aplicable. CFR 240.17a-5{e)(1)(ii), if applicable. · Con 240.12-30)-2)(1)(), i applicable. Persons who are to respond to the collection of information contained in this form are not required to respond unices the form {1}------------------------------------------------ # OATH OR AFFIRMATION liof the | | swear for affirm) that, to the best of the mownedge and belief, o
10 58 | |----------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | financial report pertaining to the firm of Cac securities, NC.
12/31 | Is true and correct. I further swear (or affirm) that neither the company nor any
on person, as the case may be, has any proprietary interest in any account classified solely | | of a chiatery foublic state of Plotis of Plotis B
Jessica Conners
My Commission HH 629071
Expires 1/16/2029 | Signature: | | | Title:
FINOP | Notary Public # This filing \*\* contains (check all applicable boxes): - (a) Statement of financial condition. - (a) Statement orsolidated statement of financial condition. = (b) Notes to consolidated statement of inancial condition. (c) Statement of income in manage income in the period(s) presented, a statement of - (c) Statement of income (as defined in § 210.1-02 of Regulation S-X). - (d) Statement of cash flows. - [d) Statement of casil nown stockholders' or partners' or sole proprietor's equity. [] (e) Statement of changes in stockholders' or partners' of sole proprietor's equity. - [1] Statement of changes in liabilities subordinated to claims of creditors. - [g) Notes to consolidated financial statements. - [8] Notes to Ebrisonoate 17 CFR 240.15c3-1 or 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - [i) Computation of tangible net worth under 17 CFR 240.188-2. - [i] (i) Computation of tangible networld concerner reservant to Exhibit A to 17 CFR 240.15cc3-3. [] {j] Computation for determination of customer reserve requirements pursuan - | (j) Computation for determination of customer reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or (k) Computation for determination of security-based s Exhibit A to 17 CFR 240.18a-4, as applicable. - [] 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. - [] {m} 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. - 240.1303-30pic/or/v/ 1/ C/ C/ C/ C/ C/ C/ C/ C/ C/ C/ C/ C/ S Report w/th 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-5, 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 examinat on 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. - O (y) Report describing any material inadequacies found to exist or found to have existed since the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). - (2) Other: \* To request confidential treatment of certain portions of this filling, see 17 CFR 240.17a-5(e)(2), as 1 applicable. {2}------------------------------------------------ **CBC Securities, Inc. Financial Statements and Supplemental Information** **For the Year Ended December 31, 2024** {3}------------------------------------------------ ## **CBC Securities, Inc. Financial Statements** ## **For the Year Ended December 31, 2024** ## **Table of Contents** Report of Independent Registered Public Accounting Firm Financial Statements Statement of Financial Condition Notes to Financial Statements {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) 100 E. Sybelia Ave. Suite 130 Maitland, FL 32751 *Certified Public Accountants* Email: pam@ohabco.com Telephone 407-740-7311 Fax 407-740-6441 ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Stockholders of CBC Securities, Inc. #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of CBC Securities, Inc. as of December 31, 2024 and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of CBC Securities, Inc. as of December 31, 2024 in conformity with accounting principles generally accepted in the United States of America. ## **Basis for Opinion** This financial statement is the responsibility of CBC Securities, lnc.'s management. Our responsibility is to express an opinion on CBC Securities, lnc.'s financial statement 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 CBC Securities, 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. 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 statement is 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 statement, 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. *w~* .~ ~~fr We have served as CBC Securities, lnc.'s auditor since 2014. Maitland, Florida February 27, 2025 {5}------------------------------------------------ # **CBC Securities, Inc. Statement of Financial Condition For the Year Ended December 31, 2024** | ASSETS | | | |--------------------------------------------|---------|-----------| | Cash | \$ | 376,428 | | Prepaid expenses and other assets | | 2,887 | | Total assets | \$ | 379,315 | | LIABILITIES AND
STOCKHOLDER'S EQUITY | | | | Liabilities: | | | | Accrued expenses | \$ | 3,593 | | Subordinated borrowings | | 200,000 | | Total Liabilities | | 203,593 | | Stockholder's equity | | | | Paid-in Capital | 488,305 | | | Retained Deficit | | (312,583) | | Total Stockholder's equity | | 175,722 | | Total Liabilities and Stockholder's Equity | \$ | 379,315 | {6}------------------------------------------------ # **CBC Securities, Inc. Notes to Financial Statements December 31, 2024** #### NOTE 1—SUMMARY OF ACCOUNTING POLICIES The accounting principles followed by CBC Securities, Inc. ("Company") and the methods of applying those principles that materially affect the determination of its financial position, results of operations and cash flows are summarized as follows: #### Organization The Company is based in Newton, Massachusetts, and has adopted a calendar year end. #### Description of Business The Company is a broker and dealer in securities and is registered with the Securities and Exchange Commission ("SEC"). The Company is a member of the Financial Industry Regulatory Authority, Inc. ("FINRA") and operates under SEC Rule 15c3-3(k)(2)(ii) that provides an exemption because of limited business. The Company activities contemplated by Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 are limited to private placements through which it provides financial advisory and consulting services for mergers and acquisitions, and private placement services for debt and equity, in addition to valuation services and analysis. #### Basis of Accounting The financial statements of the Company have been prepared on the accrual basis of accounting and accordingly, reflect all significant receivables, payables and other liabilities. #### Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less to be cash equivalents. #### Revenue from Contracts with Customers #### *Significant Judgments* Revenue from contracts with customers includes fees from investment banking. The recognition and measurement of revenue is based on the assessment of individual contract terms. Significant judgment is required to determine whether performance obligations are satisfied at a point in time or over time; how to allocate transaction prices where multiple performance obligations are identified; when to recognize revenue based on the appropriate measure of the Company's progress under the contract; whether revenue should be presented gross or net of certain costs; and whether constraints on variable consideration should be applied due to uncertain future events. {7}------------------------------------------------ # **CBC Securities, Inc. Notes to Financial Statements December 31, 2024** #### NOTE 1—SUMMARY OF ACCOUNTING POLICIES, (CONT.) #### *Investment Banking Fees* Revenues from contracts with customers are composed of investment banking fees. Such fees are recognized at the point in time when the Company's performance under the terms of the contractual arrangement is completed, which is typically at the closing of the transaction. Reimbursed expenses related to these transactions are recorded as revenue and are included in investment banking fees. In certain instances, for advisory contracts, the Company will receive amounts in advance of the deal's closing. In these instances, revenue is recognized over time in which the performance obligations are simultaneously provided by the Company and consumed by the customer. At December 31, 2024 there were no advances to the Company. #### Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company's cash and cash equivalents are held at high credit quality financial institutions at which deposits are insured up to \$250,000 per account by the Federal Deposit Insurance Corporation ("FDIC") or in money market savings accounts. #### Fair Value of Financial Instruments Financial instruments that are subject to fair value disclosure requirements are carried in the financial statements at amounts that approximate fair value and include cash and cash equivalents. Fair values are based upon quoted market prices and assumptions concerning the amount and timing of estimated future cash flows and assumed discount rates reflecting varying degrees of perceived risk. #### Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America require management to make estimates and assumptions that affect the reported amount of assets, liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenue and expense during the reporting period. Actual results could differ from management estimates. #### Business Concentrations The Company provides financial advisory and consulting services for mergers, acquisitions, divestitures, private placements of debt and equity in addition to valuation services and analysis. The Company earned revenue from 1 customer that accounted for 100% of its fees earned for the year ended December 31, 2024. {8}------------------------------------------------ # **CBC Securities, Inc. Notes to Financial Statements December 31, 2024** #### Income Taxes The Company, with the consent of its shareholder, has elected under the Internal Revenue Code to be an S corporation for both federal and state income tax purposes. In lieu of corporation income taxes, the shareholders of an S corporation are taxed on their proportionate share of the company's taxable income. Therefore no provision or liability for federal or state income taxes has been included in the financial statements. The Company has adopted the provisions of FASB Accounting Standards Codification 740-10, Accounting for Uncertainty in Income Taxes. Under ASC 740-10, the Company is required to evaluate each of its tax positions to determine if they are more likely than not to be sustained if the taxing authority examines the respective position. A tax position includes an entity's status including its status as a pass-through entity, and the decision not to file a tax return. The Company has evaluated each of its tax positions and has determined that no provision for liability for income taxes is necessary. The shareholder and the Company are generally not subject to U.S. federal, state or local income tax examinations related to the Company's activities for tax years before 2014. #### NOTE 2—NET CAPITAL REQUIREMENTS The Company's minimum net capital requirement under Rule 15c3-1 of the Securities and Exchange Commission is the greater of 6 2/3 percent of aggregate indebtedness (\$240 at December 31, 2024), or \$5,000 whichever is greater. The Company operates pursuant to the (k)(2)(ii) exemption under SEC Rule 15c3-3 and does not hold customer funds or securities. The Company is, therefore, exempt from the reserve formula calculations and possession or control computations. At December 31, 2024 the net capital as computed was \$372,835. Consequently, the Company had excess net capital of \$367,835. At December 31, 2024 the ratio of aggregate indebtedness to net capital was .001 to 1, versus an allowable percentage of 1500 percent. #### NOTE 3—RELATED PARTY TRANSACTIONS The Company does not have an expense agreement with its shareholder, and currently operates in a manner in which its direct operating expenses are recorded by the Company, a practice that shall continue going forward. The company engaged in one consulting contract during the year with it's parent which resulted in revenue of \$35,000 for the year ended December 31, 2024. #### NOTE 4—POSSESSION OR CONTROL REQUIREMENTS The Company does not have any possession or control of customer funds or securities. There were no material inadequacies in the procedures followed in adhering to the exemption provisions of SEC Rule 15c3-3(k)(2)(ii). {9}------------------------------------------------ ## NOTE 5—SIPC RECONCILIATION SEC Rule 17a-5(e)(4) requires a registered broker-dealer to file a supplemental report which includes procedures related to the broker-dealer's SIPC annual general assessment reconciliation or exclusion from membership forms. In circumstances where the broker-dealer reports \$500,000 or less in gross revenues, they are not required to file the supplemental SIPC report. The Company is exempt from the filing requirement at December 31, 2024. #### NOTE 6—SINGLE REPORTABLE SEGMENT The Company is engaged in a single line of business as a securities broker-dealer, which is comprised of several classes of services, including private placements, agency transactions, investment banking, investment advisory and venture capital business. The Company has identified it's CEO as the chief operating decisions maker ("CODM"), who uses net income to evaluate the results of the business, predominately in the forecasting process, to manage the Company. Additionally, the CODM uses excess net capital (see Note 2), which is not a measure of profit or 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 the summary of significant accounting policies. The Company derived 100% of its total revenues from a single external customer in 2024. #### NOTE 7—COMMITMENTS AND CONTINGENCIES CBC Securities, Inc. does not have any commitments, guarantees, or contingencies, including arbitration or other litigation claims that may result in a loss or a future obligation. The Company is not aware of any threats or other circumstances that may lead to the assertion of a claim at a future date. #### NOTE 8 —SUBORDINATED LOAN The loan is subordinated to the claims of the general creditors of the Company and has been issued pursuant to the standard uniform subordinated loan agreement in the form required by FINRA. The Company issued a non-interest-bearing subordinated loan, due on September 30,2027 to Concordia Boston Capital, Inc (the "Parent"), effective September 30,2024 for cash proceeds of \$200,000. #### NOTE 9 —REPORTABE SEGMENTS The Company is primarily engaged in the business of providing advice in connection with various transactions including mergers, acquisitions, financial restructurings, private placements of securities and other similar activities. The Company has identified its Chief Executive Officer as the chief operating decision makers ("CODM's"), who uses net income to evaluate the results of the business, predominantly in the forecasting process, to manage the Company. Additionally, the CODM's use excess net capital (see Note 2), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM's manage the business activities using information of the Company as a whole. The accounting policies used to measure profit and loss of the segment as the same as those described in the summary of significant accounting policies. {10}------------------------------------------------ #### NOTE 10—SUBSEQUENT EVENTS Management has evaluated all events or transactions that occurred after December 31, 2024, through the date of the issued financial statements. During 2024, the Company filed a Continuing Membership Application ("CMA") with FINRA to expand its brokerage services, which represents a material change to its approved business operations. The CMA is currently under review by FINRA. There were no material recognizable subsequent events that required recording or disclosures in the December 31, 2024, financial statements. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.