Nebraska Administrative Code
Topic - BANKING AND FINANCE, DEPARTMENT OF
Title 48 - DEPARTMENT OF BANKING AND FINANCE
Chapter 39 - CONDITIONS AND INFORMATION REQUIREMENTS FOR THE SECTION 8-1111(24) CROWDFUNDING EXEMPTION
Section 48-39-009 - FINANCIAL STATEMENTS

Universal Citation: 48 NE Admin Rules and Regs ch 39 ยง 009

Current through March 20, 2024

The issuer shall provide the following financial statements for itself and its consolidated subsidiaries, if applicable:

009.01 A balance sheet as of the end of the most recent fiscal year, or, as of a date within one hundred twenty days of the date of the first sale, if the issuer has been in existence for less than one fiscal year; and

009.02 An income statement for the immediate past fiscal year or such shorter period as the issuer, including predecessors, has been in existence.

009.03 If the issuer has not conducted significant operations, a statement of receipts and disbursements shall be included in lieu of a statement of income.

009.04 The financial statements shall be:

009.04A Prepared in accordance with generally accepted accounting principles and audited by an independent accountant;

009.04B Reviewed by an independent accountant within one hundred twenty days before the first sale; or

009.04C In the event that the issuer does not have audited or reviewed financial statements, the financial statements shall be accompanied by an affirmative representation by the issuer, signed by an officer, director or person occupying a similar position, that the statements provide all material information relating to the financial condition of the issuer and are true and accurate to the best of the signer's knowledge and belief.

009.05 The issuer shall provide the financial statement required by subsection 009.01, above, in connection with income producing assets and/or income producing real property to be purchased with the proceeds of the offering by the issuer.

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