TPTX » Topics » Combinations

This excerpt taken from the TPTX 8-K filed Nov 3, 2009.
Combinations. Under the purchase method of accounting, the total estimated purchase price, calculated as described in Note 2 to these unaudited pro forma condensed combined financial statements, is allocated to the tangible and intangible assets acquired and liabilities assumed in connection with the transaction, based on their estimated fair values as of the completion of the transaction.

 

The unaudited pro forma combined condensed consolidated balance sheet assumes that the merger was completed as of August 31, 2009. The unaudited pro forma combined condensed consolidated statement of operations for the year ended August 31, 2009 assumes that the merger was completed as of September 1, 2008.

 

The unaudited pro forma combined condensed consolidated financial information is presented for illustrative purposes only and is not necessarily indicative of the financial position or results of operations that would have actually been reported had the merger occurred at the dates stated above, nor is it necessarily indicative of future financial position or results of operations. The unaudited pro forma combined condensed consolidated financial information has been derived from and should be read in conjunction with the historical consolidated financial statements and related notes of Rap Pharma included in its Annual Report on Form 10-K for the year ended August 31, 2009 and the historical consolidated financial statements of TorreyPines included in its Form 10-Q for the six months ended June 30, 2009, and its Annual Report on Form 10-K for the year ended December 31, 2008.

 

 

 

 

 

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