National Holdings Corporation (National) is a financial services organization, operating primarily through its wholly owned subsidiaries, National Securities Corporation (National Securities), vFinance Investments, Inc. (vFinance Investments) and EquityStation, Inc. (EquityStation) (collectively, the Broker Dealer Subsidiaries). The Broker Dealer Subsidiaries conduct a national securities brokerage business through its main offices in New York, New York, Boca Raton, Florida, and Seattle, Washington. The Company through its Broker Dealer Subsidiaries offers service retail brokerage to approximately 45,000 institutional clients, provides investment banking, merger, acquisition and advisory services to micro, small and mid-cap high growth companies, and engages in trading securities. On July 1, 2008, National and vFinance, Inc. announced the completion of the merger between the two companies.