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?
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.