The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and include the accounts of the Company and its wholly-owned subsidiary, Stellar Biotechnologies, Inc. All significant intercompany balances and transactions have been eliminated in consolidation.

 

 

On June 3, 2014, the Board of Directors of the Company approved a change in the Company’s fiscal year end from August 31 to September 30 of each year. This change to the calendar quarter reporting cycle began September 1, 2014. As a result of the change, the Company had a one-month transition period from September 1, 2014 to September 30, 2014. Included in this report are the Company’s consolidated balance sheets as of September 30, 2016 and 2015; and the consolidated statements of operations, cash flows and changes in equity for the 12 months ended September 30, 2016 (“fiscal 2016”), September 30, 2015 (“fiscal 2015”), August 31, 2014 (“fiscal 2014”), and the one month ended September 30, 2014.