The Company previously filed a Certificate of Dissolution with the Secretary of State of the State of Delaware and is engaged in the complete liquidation of the Company.
The Company's financial statements below have been prepared on a liquidation basis of accounting. Assets have been measured and presented at the amounts of which the Company expects to receive cash proceeds from liquidation as of the date of the financial statements. The Company has also presented its carried interest in FATV, which was not previously recognized under generally accepted accounting principles ("GAAP"). Liabilities have been recognized and measured in accordance with GAAP that otherwise applies to those liabilities. In addition, the Company has accrued and separately presented the costs that it expects to incur during the expected duration of the liquidation and has made provision for the potential payment of claims and contingencies, not necessarily recognized under GAAP, but pursuant to Delaware General Corporation Law (the "DGCL").
Financial information presented in prior disclosures by the Company, including the information contained in the Company's filings with the U.S. Securities and Exchange Commission, was prepared assuming the Company would continue as a going concern and not on a liquidation basis of accounting. Consequently, the information presented in the financial statements below is not comparable to the Company's previously issued financial information in many important respects.
Much of the financial information set forth below does not represent the Company's historical financial position or results of operations. Rather, such information represents projections made by the Company regarding future time periods. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, to differ materially from the Company's beliefs, plans or expectations expressed or implied by such forward-looking statements. Please refer to the below financial statements for further information regarding forward-looking statements.
- June 30, 2015 (Issued September 28, 2015)
- September 30, 2014 (Issued December 16, 2014)
The financial statements above speak as of their issue date. The Company has not updated, and disclaims any obligation to update, these financial statements for any developments arising, or information coming to light, subsequent to their issue date.