Financial Statements and Assets. (i) The XxxxXxx Group Balance Sheet has been prepared in accordance with GAAP, consistently applied, and give a true and fair view of the financial position, assets and liabilities, liquidity and the results of the operations of the XxxxXxx Group for the relevant periods and as of the date of the XxxxXxx Group Balance Sheet;
Financial Statements and Assets. (i) The audited consolidated financial statements for the Corporation as at and for each of the 12-month periods ended December 31, 2000, 2001, 2002 and 2003 and the unaudited consolidated financial statements for the 9-month period ended September 30, 2004, all as filed on the System for Electronic Document Analysis and Retrieval, (collectively, the “Financial Statements”), have been prepared in accordance with Canadian generally accepted accounting principles (“GAAP”) applied consistently; such Financial Statements present fairly, in all material respects, the consolidated financial position and results of operations of the Corporation and its Subsidiaries as of the respective dates thereof and for the respective periods covered thereby and reflect appropriate and adequate reserves in respect of contingent liabilities, if any, of the Corporation and its Subsidiaries on a consolidated basis.
(ii) Except for (i) the liabilities reflected on the Corporation’s September 30, 2004 consolidated balance sheet included in the Financial Statements, (ii) trade payables and accrued expenses incurred since September 30, 2004 in the ordinary course of business, (iii) executory contract obligations under (x) contracts listed in the Disclosure Letter and/or (y) contracts not required to be listed in the Disclosure Letter, and (iv) the liabilities set forth in the Disclosure Letter, the Corporation and its Subsidiaries do not have any liabilities or obligations (whether accrued, absolute, contingent, known, unknown or otherwise, and whether or not of a nature required to be reflected or reserved against in a balance sheet in accordance with GAAP).
(iii) Except as otherwise set forth in the Disclosure Letter, the accounts receivable reflected on the September 30, 2004 consolidated balance sheet included in the Financial Statements and all of the accounts receivable of the Corporation and its Subsidiaries arising since September 30, 2004 arose from bona fide transactions in the ordinary course of business, and the goods and services involved have been sold, delivered and performed to the account obligors, and no further filings (with governmental agencies, issuers or others) are required to be made, no further goods are required to be provided and no further services are required to be rendered in order to complete the sales and fully render the services and to entitle the Corporation and its Subsidiaries, as the case may be, to collect the accounts receivable in full in a...
Financial Statements and Assets. FOXY's audited financial statements for the fiscal year ended December 31, 2001 and the unaudited but reviewed financial statements for subsequent quarters reflect that FOXY has no active business operations and has the assets or liabilities reflected on its attached financial statements. True and correct copies of these financial statements, hereafter referred to as the "FOXY Financial Statements" are attached hereto as Exhibit 5.04. All such financial statements have been prepared in accordance with generally accepted accounting principles consistently applied throughout the periods involved. As of the date of any of such balance sheets, except as and to the extent reflected or reserved against therein, FOXY did not have any liabilities or obligations (absolute or contingent) which should be reflected in a balance sheet or the notes thereto prepared in accordance with generally accepted accounting principles, and all assets reflected therein are, to the FOXY'S management's best knowledge, information and belief, properly reported and present fairly the value of the FOXY'S assets in accordance with generally accepted accounting principles. To the best knowledge, information and belief of FOXY'S management, such statements of operations present fairly the results of operations of FOXY for the periods indicated. To the best knowledge, information and belief of FOXY'S management, such statements of changes in financial position present fairly the information that should be presented therein in accordance with generally accepted accounting principles. FOXY'S books and records, and other financial matters are in all material respects complete and correct and have been maintained in accordance with good business and accounting practices
Financial Statements and Assets. (a) RMT was formed on January 9, 2018 (the "Formation Date") and, since the Formation Date, has had limited operations. RMT has no (i) consolidated balance sheets;
Financial Statements and Assets. (a) VISV's audited financial statements for its 1998 fiscal year ended June 30, 1999, are anticipated to reflect in excess of $300,000 in net worth or shareholders' equity, an amount which excludes accrued interest receivable as of such date from corporate bond investments. Attached hereto as Exhibit 5.04 are the complete audited financial statements of VISV as of June 30, 1999 (hereinafter referred to as the "VISV Financial Statements"). All such financial statements have been prepared in accordance with generally accepted accounting principles consistently applied throughout the periods involved. As of the date of any of such balance sheets, except as and to the extent reflected or reserved against therein, VISV did not have any liabilities or obligations (absolute or contingent) which should be reflected in a balance sheet or the notes thereto prepared in accordance with generally accepted accounting principles, and all assets reflected therein are, to the best knowledge, information and belief of management, properly reported and present fairly the value of the assets of VISV in accordance with generally accepted accounting principles. To the best knowledge, information and belief of management, such statements of operations present fairly the results of operations of VISV for the periods indicated. To the best knowledge, information and belief of management, such statements of changes in financial position present fairly the information that should be presented therein in accordance with generally accepted accounting principles. The books and records, financial and others, of VISV are in all material respects complete and correct and have been maintained in accordance with good business and accounting practice.
Financial Statements and Assets. (a) As of August 6, 1999, WIDEBAND had received $2,598,000 in paid in capital and an additional $441,090 in the form of hard assets conveyed to the company in exchange for stock. If and when its outstanding stock options of 100,000 shares exercisable at $5.00 per share are in fact exercised, it shall receive an additional $500,000 in paid in capital. It has no debt. As of the date of this Agreement, WIDEBAND has a total of 12,801,819 common capital shares issued and outstanding and the outstanding stock options to acquire 100,000 additional shares at $5.00 per share. While its shareholders authorized the issuance of a convertible preferred shares in September 1996, no such shares have been issued and WIDEBAND's Articles of Incorporation have never been amended to take account of the same. WIDEBAND has an Exclusive Licensing Agreement with Xxxxx X. Xxxxxxxx dba Xxxxxxxx Intellectual Property relative to various patents and patent applications, an agreement which replaces and supercedes, in all particulars, a Master License Agreement dated October 24, 1994 by and between Xx. Xxxxxxxx dba Billings Intellectual Properties and WIDEBAND's predecessor, Jamoco Corporation. The agreement also authorizes the corporation to use the "WideBand" trademark. The agreement gives Xx. Xxxxxxxx a one-and one-half percent (1 1/2%) royalty with respect to the licensing, marketing and sale of such products and inventions. Currently, there are five (5) U.S. patents that have issued. An additional two (2) U.S. patents are pending and expected to issue in the near future. Numerous international patents on the WideBand technology are also pending. The parties acknowledge that in a certified audit of WIDEBAND under GAAP and GAAS, the value of WIDEBAND's patents, trademarks and copyrights (i.e., its Exclusive Licensing Agreement) may be given nominal value. To preserve the integrity of WIDEBAND's properties and assets, certain significant employees have executed non-disclosure and non-compete agreements. See Article 10.06
Financial Statements and Assets. (a) As of December 31, 2003, IBL had received $492,833 in paid in capital. If and when its outstanding stock options of 330,000 and warrants of 2,667,500 shares exercisable at $2.00 per share are in fact exercised, it shall receive an additional $5,995,000 in paid in capital. As of the date of this Agreement, IBL has a total of 5,383,964 common capital shares issued and outstanding and the outstanding stock options and warrants to acquire 2,997, 500 additional shares at $2.00 per share. Attached hereto as Exhibit 6.04 are the audited IBL Financial Statements for the year ending December 31, 2002 and the unaudited balance sheet and income statement of IBL as of its most recent quarter preceding the Closing. The 2002 year end audited Financial Statements were prepared by the accounting firm which will undertake and prepare its post-Closing audited financial statements (collectively referred to as the "IBL Financial Statements"). If other supplementary accounting information, in addition to that identified in the previous sentence, is necessary for Closing, IBL shall prepare such. IBL is informed and believes that within 75 days of Closing the transaction, it must file, as part of an 8-K Current Report to be filed within 15 days of Closing, an audited balance sheet for its most recent fiscal year end, audited income statements for its most recent two fiscal year ends and other standard inclusions such as a statement of stockholders' equity and statement of cash flows. IBL is on track with its auditors in preparing such audited financial statements. All such financial statements have been prepared in accordance with generally accepted accounting principles consistently applied throughout the periods involved. As of the date of any of such balance sheets, except as and to the extent reflected or reserved against therein, IBL `s liabilities or obligations (absolute or contingent) have been reflected in a balance sheet or the notes hereto prepared in accordance with generally accepted accounting principles, and all assets reflected therein are properly reported and present fairly the value of the assets of IBL in accordance with generally accepted accounting principles. Such statements of operations present fairly the results of operations of IBL for the periods indicated. Such statements of changes in financial position present fairly the information that should be presented therein in accordance with generally accepted accounting principles.
Financial Statements and Assets. PAC's audited financial statements are filed with the Securities and Exchange Commission and is a matter of public record. All such financial statements have been prepared in accordance with generally accepted accounting principles consistently applied throughout the periods involved. To the best knowledge, information and belief of PAC's management, such statements of operations present fairly the results of operations of PAC for the periods indicated.
Financial Statements and Assets. CAP will provide audited financial statements to PAC, timely filed with the Securities and Exchange Commission as required by law. All such financial statements will be prepared in accordance with generally accepted accounting principles consistently applied throughout the periods involved.
Financial Statements and Assets. PRIMEPLAYER's financial statements, attached hereto as Exhibit 6.04, are PRIMEPLAYER's most recent financial statements and accurately reflect, and will accurately reflect the financial posture of PRIMEPLAYER at the Closing except its receipt of $200,000 in capital to be raisede by PRIMEPLAYER by the sale of some unspecified interest in and to the xxxxxxxxxxx.xxx website.
