# CANGURU CAPITAL ADVISORS X-17A-5 (2026-02-26) — Broker-dealer annual report
- Company: CANGURU CAPITAL ADVISORS
- Form: X-17A-5
- Filed: 2026-02-26
- Period: 2025-12-31
- Accession: 0002032971-26-000003
- CIK: 2032971
- File #: 8-71270
- Type: Broker-dealer
- Material weakness: No
- Auditor: Jennifer Wray CPA PLLC
- Auditor location: Sugar Land, TX
- Contact: Peter Galligan
- Phone: 720-689-4822
- Email: pete.galligan@cangurucapital.com
- Website: cangurucapital.com
- Signed by: Peter B Galligan (Financial Principal)
Original filing: https://www.sec.gov/Archives/edgar/data/2032971/000203297126000003/public.pdf
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#### **REPORT PURSUANT TO RULE 17a-5(d)**
**FOR THE PERIOD JANUARY 23, 2025, THROUGH DECEMBER 31, 2025**
The report is deemed **CONFIDENTIAL** in accordance with Rule 17a-5(e)(3) under the Securities Exchange Act of
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| 01/23/2025
12/31/2025
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| Canguru Capital Advisors
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| 2182 S EL Camino Real, Suite 203
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| Oceanside
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| Peter B Galligan
| 720-689-4822
| | pete.galligan@cangurucapital.com |
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| Jennifer Wray CPA PLLC
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| 800 Bonaventure Way
| Sugar Land | TX | 77479 |
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Aaron Jamieson |
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Canguru Capital Advisors |
| February 26
026 |
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#### **Contents**
#### PART I
SCHEDULES
PART II
Supplementary Schedule I:
Supplementary Schedule II:
Supplementary Schedule III:
| Statement
of
Income | | 5 |
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| Statement
of
Financial
Condition | | 4 |
| Report
of
Independent
Registered
Public
Accounting
Firm | | 3 |
Statement of Changes in Members' Equity 6
Statement of Cash Flows 7
Notes to Financial Statements 8 - 11
Statement Regarding Computation for Determining
Statement Regarding Information Relating to
Computation of Net Capital Under Rule 15c3-1 12
Reserve Requirements 13
Possession or Control Requirements 14
Auditor's Exemption Review Report 15
Management's Exemption Report 16
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#### **STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2025**
| ASSETS | | |
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| Cash and cash equivalents (Note 1)
Prepaid expenses | S | 76,222
8.154 |
| Total assets | | 84.376 |
| LIABILITIES AND SHAREHOLDER'S EQUITY | | |
| LIABILITIES: | | |
| Accounts payable and accrued expenses | | 22,481 |
| Deferred retainer payments | | 130,500 |
| Total liabilities | | 152,981 |
| COMMITMENTS AND CONTINGENCIES (Notes 4 and 5) | | |
| SHAREHOLDER'S EQUITY (Note 3): | | |
| Common stock, par value \$. ?? per share; ?? shares authorized;
?? shares issued and outstanding | | |
| Additional paid-in capital | | 40.000 |
| Retained Earnings | | (108,605) |
| Total shareholder's equity | | (68.605) |
| Total liabilities and shareholder's equity | | 84.376 |
The accompanying notes are an integral part of this statement. 5
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## **NOTES TO FINANCIAL STATEMENTS**
### *NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES*
#### *Organization and Business*
Canguru Capital Advisors (the "Company") was incorporated in California on July 24, 2024. The Company operates as a securities broker-dealer, providing sales and marketing services to managers ("Clients") who provide private investment products to institutional investors. The Company does not have direct customers.
The Firm will not claim an exemption from SEA Rule 15c3-3, in reliance on footnote 74 to SEC Release 34-70073, and as discussed in Q&A 8 of the related FAQ issued by SEC staff. The Firm has represented that it does not and will not, (1) directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, (2) does not and will not carry accounts of or for customers and (3) does not and will not carry PAB accounts. The firm's business activities are, and will remain as described below.
#### *Revenue Recognition*
The Company records revenue in accordance with ASC 606. Under ASC 606, the Company recognizes revenue when its Clients receive control of the goods or services. The amount of revenue recognized reflects the consideration outlined in the contract between the parties.
The Company believes that its performance obligation is the sale of a private investment product to an institutional investor that the company referred to their Clients. As of December 31, 2025, there have been no sales to institutional investors referred by the Company.
#### *Cash Equivalents*
For purposes of the statement of cash flows, the Company considers money market funds with a maturity of three months or less to be cash equivalents.
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## **NOTES TO FINANCIAL STATEMENTS**
#### *NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)*
#### *Use of Estimates*
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 revenues and expenses during the reporting period. Actual results could differ from those estimates.
### *NOTE 2 - INCOME TAXES*
Effective July 24, 2024, with the consent of its Member, the Company elected to be taxed as an S corporation. For tax purposes the Company is treated like a partnership, therefore in lieu of business income taxes, the Member is taxed on the Company's taxable income. Therefore, no provision or liability for Federal Income Taxes is included in these financial statements. The State of California has a similar treatment, although there exists a provision for a minimum franchise tax.
# *NOTE 3 - NET CAPITAL REQUIREMENTS*
The Company is subject to the SEC Uniform Net Capital Rule (Rule 15c-3-1), 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 8 to 1 At December 31, 2025 the Company had net capital of \$(76,759) which was \$(95,882) less than its required net capital of \$19,123. The Company had a percentage of aggregate indebtedness to net capital of (-199.30%) as of December 31, 2025.
### *NOTE 4 - COMMITMENTS AND CONTINGENCIES*
The Company had no commitments, no contingent liabilities, and had not been named as a defendant in any lawsuit at December 31, 2025, or during the year then ended.
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#### **NOTES TO FINANCIAL STATEMENTS**
(concluded)
### *NOTE 5 - FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES*
The Company is in business as a securities broker-dealer registered with the Securities and Exchange Commission and is a member of the Financial Industry Regulatory Authority, Inc. The Company is a broker and deals exclusively in selling and marketing private investments to institutional investors, and receiving a fee when an institutional investor invests in the private investment.
In the normal course of business, the Company's activities involve contacting institutional investors to inform them about the specific private investments its Clients offer. The company uses only materials approved by its Clients. These activities may expose the Company to off-balance-sheet risks. The Company bears the risk that it cannot find any institutional investors interested in the investment its Clients are offering.
The Company bears the risk of financial failure by its Clients that institutional investors have invested in if the Clients should cease doing business, the amounts due from the Clients could be subject to forfeiture.
The Company's financial instruments, including cash and cash equivalents, prepaid expenses, deferred retainer fees payments, accounts payable, and accrued expenses, are carried at amounts which approximate fair value due to their short maturities.
### *NOTE 6 - GOING CONCERN*
The Company did not recognize revenue from operations in 2025. The shareholder has committed to contribute additional capital to fund operations in the event that the company does not recognize revenues sufficient to offset the cost of operations.
## *NOTE 7 - SUBSEQUENT EVENTS*
The Company has performed an evaluation of subsequent events through February 25, 2026, and the following subsequent events were identified.
In a review of the company's contracts, it was discovered that two contracts included additional clauses requiring compensation with longer revenue recognition timeframes and different recognition criteria than those the Company had previously relied on to record revenue, even though the compensation was nonrecoverable by the Clients. As a result, the Company immediately reclassified the revenue to deferred retainer payments and notified Financial Industry Regulatory Authority, Inc. and the Securities and Exchange Commission of a Net Capital Deficiency, which was rectified immediately with a capital infusion of an additional \$110,000 contribution made on January 14, 2026, which brought the company back into compliance within the net capital required by Financial Industry Regulatory Authority, Inc. and the Securities and Exchange Commission.
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#### **NOTES TO FINANCIAL STATEMENTS**
(concluded)
#### *NOTE 8 - Segment Reporting*
The Company is engaged as a securities broker-dealer dealing mainly referring institutional investors to Clients who offer private investments. The Company has identified its Chief Executive Officer 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 distributions. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information for 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.
Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.