Form SEC 2914 SEC 2914 Form 1-SA

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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FORM 1-SA
[ ] SEMIANNUAL REPORT PURSUANT TO REGULATION A
or
[ ] SPECIAL FINANCIAL REPORT PURSUANT TO REGULATION A
For the fiscal semiannual period ended ___________________________________________________

____________________________________________________________________________
(Exact name of issuer as specified in its charter)

_____________________________________________
State or other jurisdiction of incorporation or organization

_____________________
(I.R.S. Employer
Identification No.)

__________________________________________________________________________________
(Full mailing address of principal executive offices)
____________________________________________________________________________________

(Issuer’s telephone number, including area code)
GENERAL INSTRUCTIONS
A. Rules as to Use of Form 1-SA.
(1) This Form shall be used for semiannual reports pursuant to Rule 257(b)(3) of Regulation A (§§ 230.251230.263).
(2) Semiannual reports on this Form shall be filed within 90 calendar days after the end of the semiannual period covered by the report.
(3) This Form also shall be used for special financial reports filed pursuant to Rule 257(b)(2)(i)(B) of Regulation
A. Such special financial reports shall be filed and signed in the manner set forth in this Form, but otherwise
need only provide the cover page and financial statements required by Rule 257(b)(2)(i)(B). Special financial
reports filed using this Form shall be filed within 90 calendar days after the qualification date of the offering
statement.
B. Preparation of Report.
(1) Regulation A contains certain general requirements that are applicable to reports on any form, including
amendments to reports. These general requirements should be carefully read and observed in the preparation
and filing of reports on this Form.
(2) This Form is not to be used as a blank form to be filled in, but only as a guide in the preparation of the report.
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(3) In addition to the information expressly required to be included in this Form, there shall be added such
further material information, if any, as may be necessary to make the required statements, in light of the circumstances under which they are made, not misleading.
C. Signature and Filing of Report.
(1) The report must be filed with the Commission in electronic format by means of the Commission’s Electronic
Data Gathering, Analysis and Retrieval System (“EDGAR”) in accordance with the EDGAR rules set forth in
Regulation S-T (17 CFR Part 232).
(2) The report must be signed by the issuer, its principal executive officer, principal financial officer and principal accounting officer. If a signature is by a person on behalf of any other person, evidence of authority to sign
must be filed with the report, except where an executive officer signs on behalf of the issuer.
(3) The report must be signed using a typed signature. Each signatory to the filing must also manually sign
a signature page or other document authenticating, acknowledging or otherwise adopting his or her signature
that appears in the filing. Such document must be executed before or at the time the filing is made and must be
retained by the issuer for a period of five years. Upon request, the issuer must furnish to the Commission or its
staff a copy of any or all documents retained pursuant to this paragraph.
D. Incorporation by Reference and Cross-Referencing.
(1) An issuer may incorporate by reference to other documents previously submitted or filed on EDGAR.
Cross-referencing within the report is also encouraged to avoid repetition of information. For example, you
may respond to an item of this Form by providing a cross-reference to the location of the information in the
financial statements, instead of repeating such information. Descriptions of where the information incorporated
by reference or cross-referenced can be found must be specific and must clearly identify the relevant document
and portion thereof where such information can be found. For exhibits incorporated by reference, this description must be noted in the exhibits index for each relevant exhibit. All such descriptions of where information
incorporated by reference can be found must be accompanied by a separate hyperlink to the incorporated document on EDGAR. A hyperlink need not remain active after the filing of the report, except that amendments to
the report must update any hyperlinks referred to in the amendment that are inactive.
(2) Reference may not be made to any document if the portion of such document containing the pertinent information includes an incorporation by reference to another document. Incorporation by reference to documents
not available on EDGAR is not permitted. Information shall not be incorporated by reference or cross-referenced in any case where such incorporation would render the statement or report incomplete, unclear, or confusing. Incorporating information into the financial statements from elsewhere is not permitted.
(3) If any substantive modification has occurred in the text of any document incorporated by reference since
such document was filed, the issuer must file with the reference a statement containing the text and date of such
modification.
INFORMATION TO BE INCLUDED IN REPORT
Item 1.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

Set forth the information required by Item 9(a), (b), and (d) of Form 1-A for the interim period for which finan2 of 5

cial statements are required by Item 3 below.
Item 2.

Other Information

Set forth any information required to be disclosed in a report on Form 1-U during the semiannual period covered by this Form 1-SA, but not reported, whether or not otherwise required by this Form 1-SA. If disclosure of
such information is made under this item, it need not be repeated in a report on Form 1-U that would otherwise
be required to be filed with respect to such information or in a subsequent report on Form 1-U.
Item 3.

Financial Statements

The appropriate financial statements set forth below of the issuer, or the issuer and its predecessors or any businesses to which the issuer is a successor must be filed as part of the Form 1 SA.
Unless the issuer is a Canadian company, financial statements must be prepared on a consolidated basis in
accordance with generally accepted accounting principles in the United States (US GAAP). If the issuer is a
Canadian company, such financial statements must be prepared in accordance with either US GAAP or International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB).
If the financial statements comply with IFRS as issued by the IASB, such compliance must be explicitly and
unreservedly stated in the notes to the financial statements.
The financial statements included pursuant to this item may be condensed, unaudited, and are not required to
be reviewed. For additional guidance on presentation of the financial statements, issuers that report under U.S.
GAAP should refer to Rule 8-03(a) of Regulation S-X. The financial statements for all issuers must include the
following:
(a) An interim consolidated balance sheet as of the end of the six month period covered by this report and a balance sheet as of the end of the preceding fiscal year. An interim balance sheet as of the end of the corresponding
six month interim period of the preceding fiscal year need not be provided unless necessary for an understanding of the impact of seasonal fluctuations on the issuer’s financial condition.
(b) Interim consolidated statements of comprehensive income (either in a single continuous financial statement
or in two separate but consecutive financial statements; or a statement of net income if there was no other comprehensive income) must be provided for the six month interim period covered by this report and for the corresponding period of the preceding fiscal year. Statements of comprehensive income must be accompanied by
a statement that in the opinion of management all adjustments necessary in order to make the interim financial
statements not misleading have been included.
(c) Interim statements of cash flows must be provided for the six month interim period covered by this report
and for the corresponding period of the preceding fiscal year.
(d) An analysis of the changes in each caption of stockholders’ equity presented in the balance sheets must be
provided in a note or separate statement. This analysis shall be presented in the form of a reconciliation of the
beginning balance to the ending balance for each period for which a statement of comprehensive income is
required to be filed with all significant reconciling items described by appropriate captions with contributions
from and distributions to owners shown separately. Dividends per share for each class of shares shall also be
presented.

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(e) Financial Statements of and Disclosures About Other Entities. The circumstances described below may
require you to file financial statements of, or provide disclosures about, other entities. These financial statements
and disclosures may be unaudited.

(1) Financial Statements of and Disclosures About Guarantors and Issuers of Guaranteed Securities. The
requirements of Rule 3-10 of Regulation S-X are applicable to financial statements of a subsidiary that issues
securities guaranteed by the parent company or guarantees securities issued by the parent company. However,
the reference in Rule 3-10(a) of Regulation S-X to “an issuer or guarantor of a guaranteed security that is
registered or being registered is required to file financial statements required by Regulation S-X with respect to
the guarantee or guaranteed security” instead refers to “an issuer or guarantor of a guaranteed security that is
qualified or being qualified pursuant to Regulation A is required to file financial statements required by Item 3
of Form 1-SA with respect to the guarantee or guaranteed security.” The definition of “parent company” is the
same as in Rule 3-10(b)(1) of Regulation S-X, except that Rule 3-10(b)(1)(ii) instead reads as follows: “Is, or as
a result of the subject offering statement will be, required to file reports with the Commission pursuant to Rule
257(b) of Regulation A (§§ 230.251-230.263), or is an Exchange Act reporting company.” The parent company
must also provide the disclosures required by Rule 13-01 of Regulation S-X. The parent company may elect to
provide these disclosures in a footnote to its consolidated financial statements or alternatively, in management’s
discussion and analysis of financial condition and results of operations described in Item 1 of Form 1-SA.

(2) Disclosures About Affiliates Whose Securities Collateralize an Issuance. Disclosures about an issuer’s affiliates whose securities collateralize any class of securities being offered must be provided as required by
Rule 13-02 of Regulation S-X. The issuer may elect to provide these disclosures in a footnote to its consolidated
financial statements or alternatively, in management’s discussion and analysis of financial condition and results
of operations described in Item 1 of Form 1-SA.
(f) Financial Statements of Guarantors and Issuers of Guaranteed Securities. Financial statements of a subsidiary that issues securities guaranteed by the parent or guarantees securities issued by the parent must be presented as required by Rule 3-10 of Regulation S-X, except that the periods presented are those required by this item
and the financial statements need not be audited.
Item 4.

Exhibits

(a) An exhibits index must be presented immediately preceding the first signature page of the report.
(b) File, as exhibits to this Form, the exhibits required by Form 1-A, except for the exhibits required by paragraphs 1, 12, and 13 of Item 17.

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SIGNATURES

Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
(Exact name of issuer as specified in its charter) _______________________________________________

By (Signature and Title)___________________________________________________________________

Date ______________________

Pursuant to the requirements of Regulation A, this report has been signed below by the following persons on behalf of the issuer and in the capacities and on the dates indicated.
By (Signature and Title) ______________________________________________
Date ________________________________

By (Signature and Title)______________________________________________

Date _________________________________

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