Prepared for Plug-in@Blk71

September 18, 2014

INVESTOR COMING:RESCUE NEEDED. SOS

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SPONSORS

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LAUNCH YOUR BIG IDEA

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What investors look for in a companyCompany secretarial documents every startup must haveFinancial reports investors needHow to plan about a rescue

WHAT WE WILL COVER

WHAT INVESTOR LOOKS AT

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Financial health:• Income (P&L), financial position (B/S)

and potential earnings (Forecast)• Accounting/tax filings records up to

date

Compliance health:• Record and document for every

decision of directors and shareholders

• All statutory filings and records up to date

WHAT INVESTORS LOOK AT

COMPANY SECRETARIAL RECORDS

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COMPLIANCE BIG 3S

Singapore Companies Act

M&AA

Shareholders Agreement

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COMPLIANCE BIG 3S – INTERNAL MANAGEMENT

Shareholders

Directors

Officers / Company Secretary

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Notice confirming IncorporationMemorandum and Articles of Association (M&AA)Business Profile (BizFILE)Share Certificates Common seal

STARTUPS MUST HAVE - 1

ACRA Company Profile_Sample

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Directors Resolution/sMembers Resolution/sAccounting and Corporate Regulatory Authority (ACRA) filingsFinancial Statements prepared and signedCompany’s registers - directors and officers, members, share allotment, share transfer

STARTUPS MUST HAVE - 2

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COMPLIANCE DUE DILIGENCE & RESCUE

Compliance health

Due diligence

Secretarial rescue

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DIY DUE DILIGENCE

Who is the company secretary?

Where is the common seal and company stamp?

Where are the share certificates?

Is the company secretarial file up to date?

Any notifications from ACRA?

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PROFESSIONAL DUE DILIGENCE

Stage 1 – Documents collection.

Stage 2 – Review process:

- Based on ACRA lodgment,

- Based on company’s M&AA.

Stage 3 – Compliance due diligence reporting.

FBS_Compliance Due Diligence

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WHEN DO YOU NEEDCOMPLIANCE RESCUE

DIY style online incorporation

Company Profile doesn’t reflect the true company structure

Incomplete company secretarial file

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COMPLIANCE RESCUE -SUMMARY

Company secretarial rescue:

Due diligence report with missing documents and filings (if any)

Re-created missing documents

Filed correct lodgements with ACRA

Updated the statutory records

ACCOUNTING RECORDS

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Now - Accurate financial records from the date of incorporation till today:

Income Statement (Profit & Loss)Balance SheetCash Flow Statement

Moving forward - Financial plans:Forecast

WHAT INVESTOR LOOKS AT

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WHEN YOU NEEDBOOKKEEPING RESCUE

Income looks negative!

Bank statement balance ≠ accounting records

No bookkeeping so far

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PROFESSIONAL BOOKKEEPING RESCUE

Get all the bookkeeping records ready (cheque butts, receipts, bank statements, personal expense claims).

Bookkeeper will then:

Process backlog of accounts

Work based on information available

Comment on erroneous recording (if any)

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WHEN IS A GOOD TIME FOR RESCUE

Investor coming

Loan / Government grants

Annual filing compliance – ACRA / IRAS / Audit

For your peace of mind

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LET’S TALK

inquiry@futurebooks.c

om

@futureb00ks

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TERMS OF USE

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