Common use of Financial and Accounting Clause in Contracts

Financial and Accounting. Prior to the effectiveness of the Company’s registration statement on Form SB-2, the Company will have instituted and will be employing and maintaining customary internal accounting controls and methods in its business operations sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorization; (ii) transactions are recorded as necessary to permit preparation or financial statements in conformity with generally accepted accounting principles and to maintain asset accountability, and (iii) the recorded amounts for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

Financial and Accounting. Prior to the effectiveness effective of the Company’s 's registration statement on Form SB-2, the Company will have instituted and will be employing and maintaining customary internal accounting controls and methods in its business operations sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s 's general or specific authorization; (ii) transactions are recorded as necessary to permit preparation or financial statements in conformity with generally accepted accounting principles and to maintain asset accountability, and (iii) the recorded amounts for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.