Texas Government Code - GOV'T § 4003.003. Statement of Financial Condition and Income Statement

(1) be detailed;

(2) be prepared in accordance with generally accepted auditing standards and procedures and generally accepted accounting principles;

(3) reflect the financial condition of the issuer of the securities to be qualified for sale on a date not earlier than the 90th day before the date the issuer or registered dealer files the application;

(4) show all of the issuer's liabilities by listing all current liabilities and, separately from current liabilities, all other liabilities, including contingent liabilities, showing the amount of those liabilities that are secured by mortgage or otherwise, the issuer's assets that are subject to the mortgage, and the dates of maturity of the mortgage indebtedness;

(5) list all of the issuer's assets in detail and show how the value of the assets was determined;

(6) show whether the value of the assets represents:

(7) show the present actual value of the assets; and

(8) state whether the value listed in the statement is greater or less than the assets':

(1) the terms of the agreement; and

(2) the amount and character of the assets subject to the agreement.

(1) be detailed;

(2) be prepared in accordance with generally accepted auditing standards and procedures and generally accepted accounting principles; and

(3) cover the lesser of:

(1) show the operations of the concern taken over for the three years preceding the taking over of the concern; and

(2) clearly reflect the amount of net income or net loss incurred during each year shown.