Fla. Admin. Code Ann. R. 69W-700.026 - Unsound Financial Condition

(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.

Notes

Fla. Admin. Code Ann. R. 69W-700.026

Rulemaking Authority 517.03(1) FS. Law Implemented 517.081(3), (7) FS.

New 10-26-97, Formerly 3E-700.026, Amended by Florida Register Volume 40, Number 175, September 9, 2014 effective 9/22/2014.

New 10-26-97, Formerly 3E-700.026, Amended 9-22-14.