This excerpt taken from the CWTR 10-Q filed Dec 7, 2006.
1. Basis of Presentation
The accompanying condensed consolidated financial statements are unaudited and have been prepared by management pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in our annual consolidated financial statements have been condensed or omitted. The year-end condensed balance sheet information was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. The condensed consolidated financial statements, in the opinion of management, reflect all adjustments (consisting of normal recurring adjustments) necessary for a fair statement of the interim financial statements presented herein.
The Company has four wholly-owned subsidiaries. Two of these subsidiaries currently have no substantive assets, liabilities, revenue or expenses. Aspenwood Advertising, Inc., designs, produces and distributes catalogs and other advertising materials used in our business. The fourth subsidiary was created to manage the Coldwater Creek ~ The Spa line of business. The condensed consolidated financial statements include the accounts of Coldwater Creek Inc. and our wholly-owned subsidiaries. Intercompany balances and transactions have been eliminated.
The condensed consolidated financial position, results of operations and cash flows for these interim periods are not necessarily indicative of the financial position, results of operations or cash flows to be realized in future periods.