RECN » Topics » Financial Statements

This excerpt taken from the RECN 8-K filed Oct 29, 2009.
Financial Statements.
 
(a)           Attached hereto as Schedule 4.4(a) are true, correct and complete copies of (i) the unaudited financial statements (including any related notes thereto) of Brincko for the fiscal year ended December 31, 2008 (the “Brincko Year-End Financial Statements”), and (ii) the unaudited balance sheet as of June 30, 2009, together with the related statements of operations and cash flows for the six months then ended, of Brincko, which balance sheet and statements of operations and cash flows have been reviewed in accordance with Statement of Auditing Standards 100 (the “Brincko Quarterly Financial Statements,” and together with the Brincko Year-End Financial Statements, the “Brincko Financial Statements”);
 
(b)           Except as set forth on Schedule 4.4(b), each of the Brincko Financial Statements (including the notes thereto) has been prepared in accordance with GAAP applied on a consistent basis throughout the periods covered thereby (except as may be indicated in the notes thereto).  Except as set forth on Schedule 4.4(b), each Brincko Financial Statement fairly presents the financial position of Brincko at the respective dates thereof and the results of its operations and cash flows for the periods indicated (subject to, in the case of the Brincko Quarterly Financial Statements only, normal year-end audit adjustments).

 
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(c)           Brincko makes and keeps books, records and accounts which, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of Brincko.  Brincko maintains a system of internal accounting controls sufficient to provide reasonable assurances that Brincko’s transactions are executed in accordance with management’s directions.
 


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