You should provide the 2020 financials.
Question
You should provide the 2020 financials.
From: [Redacted]
Sent: Wednesday, February 17, 2021 9:46:51 AM (UTC-05:00) Eastern Time (US & Canada)
To: [Redacted]
Subject: Question re Item 4(b)
Hello PNO: We are representing a potential acquired person. The acquired UPE is a natural person who owns the acquired entity, which in turn owns 50% of several joint ventures that are unincorporated entities. The acquired entity has a regularly prepared annual report (reviewed by accountants) from 2019 that consolidates the JVs with the acquired entity. It also has informal 2020 financial data (balance sheet and income statements) that is not consolidated. The board of the acquired entity has reviewed the 2020 financial data, but the accountants have not yet reviewed, consolidated and generated an annual report. Based on my review of the informal interpretations, I presume it would be better to submit the 2020 data, rather than the 2019 report, but I am writing for confirmation. Thank you.