Note 2 - Basis of Presentation

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Basis of Accounting [Text Block]

Note 2. Basis of Presentation

The accompanying unaudited condensed consolidated financial statements, which include the accounts of Celsion Corporation, CLSN Laboratories, Inc. and Celsion GmbH, have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) for interim financial information and with the instructions to Form

10

-Q and Article

10

of Regulation S-

X.

  All intercompany balances and transactions have been eliminated. Certain information and disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations.

In the opinion of management, all adjustments, consisting only of normal recurring accruals considered necessary for a fair presentation, have been included in the accompanying unaudited condensed consolidated financial statements. Operating results for the

three

and

six

month periods ended

June 30, 2017

are

not

necessarily indicative of the results that

may

be expected for any other interim period(s) or for any full year. For further information, refer to the financial statements and notes thereto included in the Company’s Annual Report on Form

10

-K for the fiscal year ended

December 31, 2016

filed with the Securities and Exchange Commission (SEC) on

March 24, 2017.

The preparation of financial statements in conformity with GAAP requires management to make judgments, estimates, and assumptions that affect the amount reported in the Company’s financial statements and accompanying notes.  Actual results could differ materially from those estimates. Events and conditions arising subsequent to the most recent balance sheet date have been evaluated for their possible impact on the financial statements and accompanying notes.  

No

events and conditions would give rise to any information that required accounting recognition or disclosure in the financial statements other than those arising in the ordinary course of business. 

As more fully described in Note

9,

the Company effected a

1

-for-

14

reverse stock split of its common stock on

May 26, 2017

which was made effective for trading purposes as of the commencement of trading on

May 30, 2017.

All prior period shares of common stock have been adjusted to reflect the

1

-for-

14

reverse stock split.