Florida Regulations 69W-700.026: Unsound Financial Condition
Current as of: 2024 | Check for updates
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(1) Registration of an issuer may not be permitted if the financial statements demonstrate the issuer to have an unsound financial condition.
(2) Such unsound financial condition is determined by:
(a) An accumulated deficit;
(b) Negative shareholders equity;
(c) An inability to satisfy current obligations as they become due;
(d) Negative cash flow; or
(e) Financial statements that include a footnote or explanatory paragraph in the independent auditor’s report regarding the issuer’s ability to continue as a going concern.
Rulemaking Authority Florida Statutes § 517.03(1). Law Implemented 517.081(3), (7) FS. History-New 10-26-97, Formerly 3E-700.026, Amended 9-22-14.
(a) An accumulated deficit;
(b) Negative shareholders equity;
(c) An inability to satisfy current obligations as they become due;
(d) Negative cash flow; or
(e) Financial statements that include a footnote or explanatory paragraph in the independent auditor’s report regarding the issuer’s ability to continue as a going concern.
Rulemaking Authority Florida Statutes § 517.03(1). Law Implemented 517.081(3), (7) FS. History-New 10-26-97, Formerly 3E-700.026, Amended 9-22-14.