Posted On: 03/17/2016 2:31:48 PM
Post# of 8802
Did some research and here's the truth on TALK FILING requirement.
Since UMS revenue clearly exceeds 50% and more of iTalk revenue. The merger is classified as Significant Consummated Business Acquisition
Significant Consummated Business Acquisition
Audited financial statements for the three most recent years, unaudited financial statements for the appropriate interim period preceding the acquisition and the comparative prior period.
We have already received the unaudited financial statements for the appropriate interim period preceding the acquisition
-> www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11161151
Question
What SEC filings require the presentation of pro forma financial information for a significant consummated or probable business combination?
Answer
As discussed in more detail below, the types of SEC filings in which a registrant may be required to present
pro forma financial information for a significant consummated business combination include the
following:
• Form 8-K.
• Registration statements.
• Proxy statements.
Under Article 11, pro forma financial information is not required in a Form 10-K or 10-Q. However, pro forma data required by U.S. GAAP under Statement 141(R) [ASC 805]3 must be included in the notes to the financial statements in a Form 10-K or Form 10-Q, as appropriate.
Form 8-K
Significant Consummated Business Acquisition
A registrant must file an initial Form 8-K (under Item 2.01) within four business days of the consummation of a business acquisition that exceeds the 20 percent significance level.
Once again we have already received the initial 8-K -> www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11143849
Pro forma financial information depicting an acquisition is only required if the acquisition is significant under Rule 3-05. A registrant may file such financial statements and pro forma financial information in the initial Form 8-K. Otherwise, the registrant has an additional 71 calendar days to file an amended Form 8-K to include the separate financial statements and pro forma financial information.
This is all were waiting for now is Pro forma financial information, and the 71 day extension is almost up. TALK has not missed a single filing so far. EOM
Since UMS revenue clearly exceeds 50% and more of iTalk revenue. The merger is classified as Significant Consummated Business Acquisition
Significant Consummated Business Acquisition
Audited financial statements for the three most recent years, unaudited financial statements for the appropriate interim period preceding the acquisition and the comparative prior period.
We have already received the unaudited financial statements for the appropriate interim period preceding the acquisition
-> www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11161151
Question
What SEC filings require the presentation of pro forma financial information for a significant consummated or probable business combination?
Answer
As discussed in more detail below, the types of SEC filings in which a registrant may be required to present
pro forma financial information for a significant consummated business combination include the
following:
• Form 8-K.
• Registration statements.
• Proxy statements.
Under Article 11, pro forma financial information is not required in a Form 10-K or 10-Q. However, pro forma data required by U.S. GAAP under Statement 141(R) [ASC 805]3 must be included in the notes to the financial statements in a Form 10-K or Form 10-Q, as appropriate.
Form 8-K
Significant Consummated Business Acquisition
A registrant must file an initial Form 8-K (under Item 2.01) within four business days of the consummation of a business acquisition that exceeds the 20 percent significance level.
Once again we have already received the initial 8-K -> www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11143849
Pro forma financial information depicting an acquisition is only required if the acquisition is significant under Rule 3-05. A registrant may file such financial statements and pro forma financial information in the initial Form 8-K. Otherwise, the registrant has an additional 71 calendar days to file an amended Form 8-K to include the separate financial statements and pro forma financial information.
This is all were waiting for now is Pro forma financial information, and the 71 day extension is almost up. TALK has not missed a single filing so far. EOM
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Nothing I state is intended to be a recommendation to buy or sell, opinion only. Readers are solely responsible for how they use the information.
