Here is the converted article in markdown format:
SECURITIES REGULATORY AUTHORITY
Financial Report for the Year Ended December 31, 2015
Company Information
- Company Name: XYZ Corporation
- Chief Executive Officer: John Doe
- Director: Jane Smith
- Date: February 28, 2016
Financial Statements
The following financial statements are presented for the year ended December 31, 2015:
Condensed Balance Sheet as of December 31, 2015
- Total assets: $10 million
- Total liabilities: $5 million
- Shareholders’ equity: $5 million
Condensed Statement of Income
| Year Ended December 31, 2015 | Corresponding Period in Previous Financial Year | |
|---|---|---|
| Revenue | $8 million | $6 million |
| Net income | $2 million | $1 million |
Condensed Statement of Cash Flows
| Year Ended December 31, 2015 | Corresponding Period in Previous Financial Year | |
|---|---|---|
| Operating activities | $2 million | $1 million |
| Investing activities | ($1 million) | ($500,000) |
| Financing activities | ($500,000) | $500,000 |
Notes to Condensed Financial Statements
- The company has a significant amount of goodwill on its balance sheet, which was impaired by $1.5 million during the year.
- The company’s accounts receivable increased by 20% during the year due to an increase in sales.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
The company’s financial condition remains strong, with a current ratio of 2:1 as of December 31, 2015. The company generated net income of $2 million for the year ended December 31, 2015, compared to $1 million in the corresponding period in the previous financial year.
Risk Factors
The company faces several risk factors that may impact its results from operations or financial condition, including:
- Dependence on a key supplier
- Untested products
- Liquidity and cash flow problems
During the year ended December 31, 2015, the company’s dependence on a key supplier increased due to an increase in the supplier’s market share.
Legal Proceedings
The company is currently involved in two legal proceedings:
- A lawsuit against a former employee for breach of contract
- A dispute with a customer over a delivery delay
Changes in Securities and Use of Proceeds
During the year ended December 31, 2015, the company issued 500,000 common shares at a price of $10 per share, raising $5 million in gross proceeds.
Conclusion
The company’s financial condition remains strong, with a current ratio of 2:1 as of December 31, 2015. The company generated net income of $2 million for the year ended December 31, 2015, compared to $1 million in the corresponding period in the previous financial year.
Please note that this is a sample report and actual financial reports may vary depending on the specific requirements of the securities regulatory authority and the company’s financial condition.