Note 2 - Basis of Presentation

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Basis of Accounting [Text Block]

Basis of Presentation

The accompanying unaudited consolidated condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and with the instructions to Form

10

-Q and Article

10

of Regulation S-

X

for interim financial information. Accordingly, they do

not

include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the

nine

months ended

September 30, 2020

are

not

necessarily indicative of the results that

may

be expected for the year ending

December 31, 2020.

The accompanying unaudited consolidated condensed financial statements should be read in conjunction with the financial statements and footnotes thereto as of and for the year ended

December 31, 2019,

included in the Annual Report on Form

10

-K of Universal Biosensors, Inc. filed with the U.S. Securities and Exchange Commission (the “SEC”) on

February 26, 2020 (

the “Annual Report”).

The year-end consolidated condensed balance sheets data as at

December 31, 2019

was derived from audited financial statements, but does

not

include all disclosures required by U.S. GAAP.