Anavex Life Sciences Corp (AVXL)

[Investor2014]

You do understand the difference between the disclosure obligations of 10-K and 10-Q, right?

How to Read a 10-K/10-Q

SEC rules require that 10-Ks follow a set order of topics. The Form 10-Q is required to be filed after the first, second and third fiscal quarter.

Items in the Annual Report on Form 10-K
Part I
Item 1 “Business” requires a description of the company’s business, including its main products and services, what subsidiaries it owns, and what markets it operates in. This section may also include information about recent events, competition the company faces, regulations that apply to it, labor issues, special operating costs, or seasonal factors. This is a good place to start to understand how the company operates.

Item 1A “Risk Factors” includes information about the most significant risks that apply to the company or to its securities. Companies generally list the risk factors in order of their importance. In practice, this section focuses on the risks themselves, not how the company addresses those risks. Some risks may be true for the entire economy, some may apply only to the company’s industry sector or geographic region, and some may be unique to the company.

So the IP risks are not required to be in the 10-Q!