Ariz. Admin. Code § 14-4-123

Current through Register Vol. 30, No. 25, June 21, 2024

Section R14-4-123 - Financial Information Required by Applicants for Exemptions

To a petition filed pursuant to A.R.S. § 44-1846, or as part of a Notice of Intention to Sell Securities pursuant to rule R14-4-101 or Rule R14-4-102, there shall be attached as an exhibit financial statements consisting of a balance sheet as of a date within 90 days of the petition and statements of operations, stockholders' equity and retained earnings, and changes in financial position for each of the preceding three years or for such lesser period as the issuer has been engaged in business. Such financial statements shall be prepared in accordance with generally accepted accounting principles and shall be:

1. Verified under oath, upon information and belief, by an officer, a general partner, a joint venturer, a trustee, or the sole proprietor of the issuer, whichever is appropriate depending upon its form of organization, by a statement which shall include the statements that:

a. The accompanying financial statements present fairly the issuer's financial position on the dates indicated and the results of the issuer's operations and changes in financial position for the periods indicated; and that

b. Such person has no knowledge of any material fact which would adversely affect the financial condition, results of operations and changes in financial position of such issuer as disclosed in such financial statements; or

2. Audited by an independent public or certified independent public accountant, in which case such statements need not be as of a date within 90 days of the petition but may be as of a date within one year of the petition, provided that such audited statements are accompanied by unaudited interim statements as of the date within 90 days of the date of the petition.

Ariz. Admin. Code § R14-4-123

Former Order S-23; Amended effective July 18, 1985 (Supp. 85-4).