Note 2 - Basis of Presentation and Significant Accounting Policies

3 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Basis of Presentation and Significant Accounting Policies [Text Block]

2.

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

General

The Company’s unaudited interim condensed consolidated financial statements included herein have been prepared in accordance with the instructions to Form

10

-Q and Article

8

of Regulation S-

X

and the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. In management’s opinion, the accompanying statements reflect adjustments necessary to present fairly the financial position, results of operations, and cash flows for those periods indicated, and contain adequate disclosure to make the information presented

not

misleading. Adjustments included herein are of a normal, recurring nature unless otherwise disclosed in the footnotes. The condensed consolidated financial statements and notes thereto should be read in conjunction with the Company’s audited financial statements and notes thereto for the year ended

September 

30,

2018

included in the Company’s Annual Report on Form

10

-K, as filed with the SEC on

December 21, 2018.

The accompanying condensed consolidated balance sheet at

December 31, 2018

has been derived from the audited consolidated balance sheet at

September 30, 2018

contained in the above referenced Form

10

-K. Results of operations for interim periods are

not

necessarily indicative of the results of operations for a full year.

Principles of Consolidation

The Company has

three

wholly owned subsidiaries, Genasys II Spain, S.A.U. and

two

currently inactive subsidiaries, Genasys America de CV and LRAD International Corporation. The consolidated financial statements include the accounts of these subsidiaries after elimination of intercompany transactions and accounts.

Reclassifications

Where necessary, the prior year’s information has been reclassified to conform to the current year presentation.