Topic: M&A / Development

Subject: Public Company - Acquisitions Not Having Audited Financials
Bob McMullan
Member: 2005
Posts:2
Submitted on 11-13-13 6:14 pm
Message:
For a OTCBB public company is there any exception for completing acquisitions when the target company does not have audited financial statements? I understand the definition of "business" under SX, but if assets are acquired and certain liabilities assumed, would audited statements be required?
Thx,
Bob McMullan
 
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Replies
Paul Stenner
Member: 2010
Posts: 1

Subject: Re:Public Company - Acquisitions Not Having Audited Financials

Submitted on 11-20-13 9:35 am.
Message:
From a business point of view it depends on whether you are buying assets or shares. Also, I have seen companies get a 'quality of earnings' report from an outside accountant when there are no audited statements.
 
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