SECTOR: Business services – removal of negative links on the Internet
Assignment received from Irish Company
Working method: US GAAP
Mandate subject: listing of the Ealixir project.
One of the most complex activities includes accompanying the entrepreneur through the listing process.
Regardless of the target market, the Company acquired a shell company and through the process of merger by incorporation formed a vehicle for listing on the OTCQB market.
After assisting the company with the project evaluation the other assignment was closely related to the listing.
The company had a very complex and articulated scope of consolidation as each country adopted a local accounting standard.
The hardest work was to reconstruct each position accounting-wise, make it fit U.S. accounting standards, and consolidate it into the new U.S. entity.
The work took almost 11 months and was concluded by delivering to the U.S. auditors all the documentation related to the consolidation (thus including footnotes and related attachments such as the Revenue Recognition reconstruction file).