SEC Form 20-IS - iRemit Global Remittance

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- 2 - I-REMIT, INC. SCHEDULE OF ALL EFFECTIVE STANDARDS AND INTERPRETATIONS UNDER PFRS DECEMBER 31, <strong>20</strong>11 Schedule II Page 1 of 5 PFRSs Adopted/Not adopted/ Not applicable PFRS 1, First-time Adoption of Philippine Financial Reporting Standards Not applicable PFRS 2, Share-based Payment Adopted PFRS 3, Business Combinations Adopted PFRS 4, Insurance Contracts Not applicable PFRS 5, Non-current Assets Held for Sale and Discontinued Operati ons Adopted PFRS 6, Exploration for and Evaluation of Mineral Resources Not applicable PFRS 7, Financial Instruments: Disclosures Adopted PFRS 8, Operating Segments Adopted PAS 1, Presentation of Financial Statements Adopted PAS 2, Inventories Not applicable PAS 7, Statement of Cash Flows Adopted PAS 8, Accounting Policies, Changes in Accounting Estimates and Errors Adopted PAS 10, Events after the Reporting Period Adopted PAS 11, Construction Contracts Not applicable PAS 12, Income Taxes Adopted PAS 16, Property, Plant and Equipment Adopted PAS 17, Leases Adopted PAS 18, Revenue Adopted PAS 19, Employee Benefits PAS <strong>20</strong>, Accounting for Government Grants and Disclosure of Government Adopted Assistance Not applicable PAS 21, The Effects of Changes in Foreign Exchange Rates Adopted PAS 23, Borrowing Costs Adopted PAS 24, Related Party Disclosures Adopted PAS 26, Accounting and Reporting by Retirement Benefit Plans Not applicable PAS 27, Consolid ated and Separate Financial Statements Adopted PAS 28, Investments in Associates Adopted PAS 29, Financial Reporting in Hyperinflationary Economies Not applicable PAS 31, Interests in Joint Ventures Not applicable PAS 32, Financial Instruments: Presentation Adopted PAS 33, Earnings per Share Adopted
- 3 - Schedule II Page 2 of 5 PFRSs Adopted/Not adopted/ Not applicable PAS 34, Interim Financial Reporting Adopted PAS 36, Impairment of Assets Adopted PAS 37, Provisions, Contingent Liabilities and Contingent Assets Adopted PAS 38, Intangible Assets Adopted PAS 39, Financial Instruments: Recognition and Measurement Adopted PAS 40, Investment Property Not applicable PAS 41, Agriculture Philippine Interpretation IFRIC–1, Changes in Existing Decommissioning, Not applicable Restoration and Similar Liabilities Philippine Interpretation IFRIC–2, Members' Shares in Co-operative Not Applicable Entities and Similar Instruments Philippine Interpretation IFRIC–4, Determining whether an Arrangement Not Applicable contains a Lease Philippine Interpretation IFRIC–5, Rights to Interests arising from Not Applicable Decommissioning, Restoration and Environmental Rehabilitation Funds Philippine Interpretation IFRIC–6, Liabilities arising from Participating in Not Applicable a Specific Market - Waste Electrical and Electronic Equipment Philippine Interpretation IFRIC–7, Applying the Restatement Approach Not Applicable under PAS 29, Financial Reporting in Hyperinflationary Economies Not Applicable Philippine Interpretation IFRIC–9, Reassessment of Embedded Derivatives Philippine Interpretation IFRIC–10, Interim Financial Reporting and Not Adopted Impairment Adopted Philippine Interpretation IFRIC–12, Service Concession Arrangements Not Applicable Philippine Interpretation IFRIC–13, Customer Loyalty Programmes Philippine Interpretation IFRIC–14, PAS 19 - The Limit on a Defined Not applicable Benef it Asse t, Minimum Funding Requirements and their Interaction Philippine Interpretation IFRIC–16, Hedges of a Net Investment in a Adopted Forei gn Oper ation Philippine Interpretation IFRIC–17, Distributions of Non-cash Assets to Not Applicable Owners Not applicable Philippine Interpretation IFRIC–18, Transfers of Assets from Customers Philippine Interpretation IFRIC–19, Extinguishing Financia l Liabilities Not Applicable with Equity Instruments Not Applicable Philippine Interpretation SIC–7, Introduction of the Euro Philippine Interpretation SIC–10, Government Assistance - No Specific Not applicable Relation t o Operating Activities Not applicable Philippine Interpretation SIC–12, Consolida tion - Special Purpose Entities Philippine Interpretation SIC–13, Jointly Controlled Entities - Non- Not Applicable Moneta ry Contributions by Venturers Not Applicable Philippine Interpretation SIC–15, Operating Leases – Incentives Philippine Interpretation SIC–21, Income Taxes - Recovery of Revalued Not Applicable Non-Depreciable Assets Not Applicable
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• 1!I~lJllr June 25, 2012 THE PHI
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IRE:lftlr I-Remit, Inc. TO: ALL STO
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GENERAL INFORMATION Date, time and
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Note: The PCD Nominee Corporation (
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Harris Edsel D. Jacildo Mr. Jacildo
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Mr. Tan has also been the Corporate
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Ronald A. Benito Mr. Benito joined
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Involvement in Certain Legal Procee
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The compensation of the key managem
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Compensation Plans As described abo
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SIGNATURES After reasonable inquiry
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I-Remit Australia Pty Ltd, a wholly
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Properties I-Remit, Inc. and its su
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Company’s shareholders. Any stock
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Committees of the Board of Director
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Plan of Operation MANAGEMENT’S DI
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Full Years 2011 compared to 2010 I-
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Total liabilities declined by PHP 1
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2010 compared to 2009 I-Remit reali
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IREMIT EUROPE Remittance Consulting
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I-Remit New Zealand Limited Perform
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Below are the comparative key perfo
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Goodwill decreased by PHP 1.5 milli
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IREMIT Remittance Consulting GmbH M
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I-REMIT, INC. AND SUBSIDIARIES NOTE
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- 3 - Statement of Compliance The a
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- 5 - Changes in Accounting Policie
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- 7 - deferred cumulative amount pr
Page 72 and 73: - 9 - For all other financial instr
Page 74 and 75: - 11 - Estimates of changes in futu
Page 76 and 77: - 13 - Gains or losses arising from
Page 78 and 79: - 15 - Once a financial asset or a
Page 80 and 81: - 17 - Income Taxes Current tax Cur
Page 82 and 83: - 19 - Related party relationships
Page 84 and 85: - 21 - PFRS 13, Fair Value Measurem
Page 86 and 87: - 23 - d. Discontinued Operations M
Page 88 and 89: - 25 - As of December 31, 2011 and
Page 90 and 91: - 27 - The following methods and as
Page 92 and 93: - 29 - As at December 31, 2011, the
Page 94 and 95: - 31 - Change in nominal 2010 Chang
Page 96 and 97: 6. Cash and Cash Equivalents This a
Page 98 and 99: 10. Other Current Assets This accou
Page 100 and 101: Office and Communication Equipment
Page 102 and 103: - 39 - value of the additional inte
Page 104 and 105: 16. Interest-Bearing Loans - 41 - T
Page 106 and 107: - 43 - The Group’s objective is t
Page 108 and 109: The major categories of plan assets
Page 110 and 111: - 47 - (f) On July 1, 2011, the Par
Page 112 and 113: - 49 - In the ordinary course of bu
Page 114 and 115: - 51 - The table below shows the in
Page 116 and 117: - 53 - Segment information as of an
Page 118: - 55 - The results of IRCGmbH’s o
Page 121: - 1 - I-REMIT, INC. SCHEDULE OF RET
Page 125 and 126: - 5 - Schedule II Page 4 of 5 Impor
Page 127 and 128: - 7 - I-REMIT, INC. AND SUBSIDIARIE
Page 129 and 130: Name of Debtor - 9 - I-Remit, Inc.
Page 131 and 132: - 11 - I-Remit, Inc. and Subsidiari
Page 133 and 134: - 13 - I-Remit, Inc. and Subsidiari
Page 135 and 136: Title of Issue (i) Number of shares
Page 144 and 145: I-REMIT, INC. NOTES TO PARENT COMPA
Page 146 and 147: - 3 - The adoption of the following
Page 148 and 149: - 5 - After initial measurement, ot
Page 150 and 151: - 7 - If the Parent Company determi
Page 152 and 153: - 9 - assets or groups of assets, i
Page 154 and 155: - 11 - actuarial gains and losses a
Page 156 and 157: - 13 - A change in the ownership in
Page 158 and 159: - 15 - PFRS 11, Joint Arrangements
Page 160 and 161: - 17 - d. Contingencies The Parent
Page 162 and 163: - 19 - As of December 31, 2011 the
Page 164 and 165: - 21 - The main risks arising from
Page 166 and 167: - 23 - The following tables set for
Page 168 and 169: 6. Cash and Cash Equivalents This a
Page 170 and 171: 10. Investments in Subsidiaries and
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- 29 - IRCL On October 1, 2004, the
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- 31 - 2009 Balance Sheets Statemen
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13. Beneficiaries and Other Payable
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- 35 - In 2009 and 2008, the Parent
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- 37 - The amounts of retirement ex
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- 39 - (b) A lease agreement with W
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22. Related Party Transactions - 41
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- 43 - The amounts payable to PSAGL
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- 45 - In the opinion of management
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- 47 - Taxes and licenses Other tax
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I-REMIT, INC. 26/F Discovery Centre
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I-REMIT, INC. AND SUBSIDIARIES (Com
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I-REMIT, INC. AND SUBSIDIARIES Cons
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I-REMIT, INC. AND SUBSIDIARIES Cons
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Item 1. Financial Statements PART I
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Below are the comparative key perfo
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Worldwide Exchange Pty Ltd Performa
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million as of March 31, 2012, a dec
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Lucky Star Management Limited Perfo
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Power Star Asia Group Limited Perfo
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Summary of Significant Accounting P
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Day 1 difference Where the transact
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Historical loss experience is adjus
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Foreign Currency Risk Foreign curre
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MINUTES OF THE ANNUAL STOCKHOLDERS
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RELEVANT RESOLUTIONS APPROVED BY TH
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February 17, 2012 March 23, 2012 Ma
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SEC Form 20-IS - iRemit Global Remittance

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