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THE SPIN-OFF AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
3 Months Ended
Mar. 31, 2016
THE SPIN-OFF AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Basis of Presentation

 

Basis of Presentation

 

The assets and liabilities in the consolidated condensed financial statements are presented on a historical cost basis.  We have eliminated all of our significant intercompany transactions and accounts.

 

In the opinion of our management, the accompanying financial statements contain all adjustments (consisting of normal recurring adjustments) necessary to fairly present our financial position as of March 31, 2016, and the statements of operations, comprehensive income, and cash flows for the three months ended March 31, 2016 and 2015, as applicable.  The loss and cash flows for the periods ended March 31, 2016 and 2015 are not necessarily indicative of the loss or cash flows you should expect for the full year.

 

Certain prior year amounts have been reclassified to conform to the 2016 presentation.

 

We have prepared this report pursuant to the rules and regulations of the United States Securities and Exchange Commission applicable to interim financial information, which permit omission of certain disclosures to the extent they have not changed materially since the latest annual financial statements.  We believe our disclosures are adequate to make the information not misleading.  This Form 10-Q should be read in conjunction with the consolidated and combined financial statements and the notes thereto in our Annual Report on Form 10-K for the year ended December 31, 2015.