Mosaic ImmunoEngineering is a nanotechnology-based immunotherapy company developing therapeutics and vaccines to positively impact the lives of patients and their families.

Free
Message: Our share of loss in PDS

During the three months ended August 31, 2011, our share of loss in PDS exceeds our investment in PDS by $732,286. We have not recorded the excess loss on our consolidated financial statements as we do not intend to fund any cash requirements of PDS, which is a change in our policy of accounting for PDS. Under the equity method of accounting, we are to continue to report losses up to our carrying amount of the investment. Once the investment balance is reduced to $0, we are to discontinue applying the equity method until such time that our share of future net income reported by PDS equals our share of net losses not recognized during the period the equity method was suspended.

Share
New Message
Please login to post a reply