In: Accounting
Obtain the latest audited annual financial statements for the company identified. Generally, that will mean either:
a. Use the information in Appendix A of your text, Accessing the EDGAR Database through the Internet, to obtain and download or print as a pdf the company’s latest, complete Form 10-K, including its complete financial statements; or
b. Navigate the company’s website to find its investor relations page from which you can download or print as a pdf its latest annual report or Form 10-K
We have audited the accompanying balance sheet of Rockstar Acquisitions, LLC (the “Company”) as of December 31, 2016 and the related statements of operations, changes in members’ deficit, and cash flows for the period November 18, 2016 (Inception) through December 31, 2016. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform an audit of the Company’s internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Rockstar Acquisition, LLC as of December 31, 2016, and the results of its statements of operations, changes in members’ deficit, and cash flows for the period November 18, 2016 (Inception) through December 31, 2016 in conformity with U.S. generally accepted accounting principles.
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 4 to the financial statements, the Company has sustained operating losses and needs to obtain additional financing to continue the development of their product. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 4. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.