When do financials go stale 2018

Compliance with Reg CF: Current liquidity and capital resources. September 22, by Andrew Stephenson. Under Rule s , this discussion must cover each period for which the issuer has provided financial statements as well as identification of any material changes that have occurred after the end of the periods covered by the financial statements.

In practice, the discussion would include items like cash on hand, burn rate, and availability of other sources of…. September 12, by Andrew Stephenson. The financial statements and corresponding discussion of financial condition of an issuer undertaking a securities offering under Regulation CF is arguably the most important set of information for an investor to make an informed investment decision. While the story of the company is critical for gaining investor interest, it is the financials that help an investor understand the potential for financial return.

The financial statements and discussion are required disclosures under Rule of Regulation CF. September 01, by Andrew Stephenson. Over the next few weeks, CrowdCheck will be posting a series of blog posts regarding issuer compliance with the disclosure requirements of Regulation CF. We believe this series will be important for prospective issuers and platforms, and ultimately investors.

Of the ninety-six Form C filings as of September 1, , very few have actually met the disclosure requirements under Rule of Regulation CF.

This is important for a variety of reasons. You can get staleness dates for the current year on the Desktop Staleness Calendar that we jointly prepare annually with KPMG or use our online calculator. The SEC Staff will not review a registration statement if the financial statements are stale or otherwise do not comply with the Rules for financial statement age and audits at the date of filing.

The Staff will, however, review the filing if the financials are current when filed, even if they go stale after filing. See FRM Topic Direct to: Annual Report Secretary General. Desktop reference: When do financial statements go stale for offerings? Handbooks February Download now.

Timothy Brown Partner, Dept.