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EXHIBIT 21
NATIONAL HOLDINGS CORPORATION
September 30, 2012
Percentage | |||||
of Voting | |||||
State of | Securities | ||||
Subsidiary Name | Incorporation | Owned | |||
National Securities Corporation | Washington | 100% | |||
National Asset Management, Inc. | Washington | 100% | |||
National Insurance Corporation | Washington | 100% | |||
National Securities Futures Corporation | Washington | 100% | |||
vFinance, Inc. | Delaware | 100% | |||
Critical Advisors, LLC | Virginia | (1) | |||
Critical Investors, LLC | Virginia | (1) | |||
vFinance Investments Holdings, Inc. | Florida | (1) | |||
vFinance Executive Services, Inc. | Florida | (1) | |||
vFinance Holdings, Inc. | Florida | (1) | |||
vFinance Investments, Inc. | Florida | (2) | |||
EquityStation, Inc. | Florida | (3) | |||
Osage National | Florida | (4) |
(1) | 100% owned by vFinance, Inc. | ||||
(2) | 100% owned by vFinance Investment Holdings, Inc. | ||||
(3) | 24.9% owned by minority interest | ||||
(4) | 60.0% owned by unconsolidated affiliate |