SYNOPSIS

The company had an operating entity that needed consolidation with the publicly-traded parent company. The operations consisted of in-process development of specialized equipment used to facilitate the indoor farming of shrimp within a closed system. Being at a critical inflection point with years of research, trial and error to commercialize their system, they lacked the bandwidth to appropriately manage the accounting, finance and SEC reporting. This hindered the company’s ability to provide accurate and timely information to shareholders and new investors to appropriately capitalize the company.

“When Eventus got involved, the company was new to the SEC reporting process and needed efficient accounting, finance and compliance in place. This often becomes a distraction to management teams as they build their business, and we wanted to solve that quickly.”

STRATEGY & COURSE OF ACTION

The lack of internal financial resources required Eventus to step in to spearhead the accounting and finance processes. This enabled management to focus their attention on finalizing the development of the equipment. Eventus cleaned-up the company’s books and records and streamlined the company’s monthly closing. Our accounting staff assumed the monthly accounting work so that our SEC experts could receive the relevant financial information on schedule in order to produce the financial statements and workpapers required by the auditors. This kept the company on schedule with our SEC deadlines for accurate and timely reporting.

THE RESULTS

Since the involvement of Eventus in 2015, the company has books and records closed monthly and quarterly to be audit-ready and has been fully compliant and timely with all SEC filings. As of calendar Q4, 2018, the company has successfully finished the development of its equipment and has proven its commercial viability with the first full, healthy lot of shrimp that is ready for sale. The company is now scaling to build additional equipment and has successfully completed registration statement with the SEC for funding, which went effective with no comment, to cover capital and operational expenditures as it begins sales and marketing.

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