SEC Form 20-IS - iRemit Global Remittance

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- 47 - Taxes and licenses Other taxes and licenses include all other taxes, local and national, recognized as ‘Taxes and licenses’. Details follow: Amount Documentary stamp taxes: Applied on loans P=3,708,779 Applied on other transactions 323,286 Licenses and permits 2,163,071 Others 531,164 P=6,726,300 *SGVMC116501*
INDEPENDENT AUDITORS’ REPORT ON SUPPLEMENTARY SCHEDULES The Stockholders and the Board of Directors I-Remit, Inc. 26/F Discovery Centre, 25 ADB Avenue Ortigas Center, Pasig City We have audited in accordance with Philippine Standards on Auditing, the financial statements of I-Remit, Inc. (the Parent Company) and have issued our report thereon dated March 23, 2012. Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The accompanying Schedule of Retained Earnings Available for Dividend Declaration as of December 31, 2011 is the responsibility of the Parent Company’s management. This schedule is presented for the purpose of complying with Securities Regulation Code Rule 68.1 and Securities and Exchange Commission Memorandum Circular No. 11, Series of 2008, and is not part of the basic financial statements. This schedule has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, fairly states in all material respects the financial data required to be set forth therein in relation to the basic financial statements taken as a whole. SYCIP GORRES VELAYO & CO. Josephine Adrienne A. Abarca Partner CPA Certificate No. 92126 SEC Accreditation No. 0466-AR-1 (Group A), February 11, 2010, valid until February 10, 2013 Tax Identification No. 163-257-145 BIR Accreditation No. 08-001998-61-2009, June 1, 2009, valid until May 31, 2012 PTR No. 3174577, January 2, 2012, Makati City March 23, 2012 SyCip Gorres Velayo & Co. 6760 Ayala Avenue 1226 Makati City Philippines Phone: (632) 891 0307 Fax: (632) 819 0872 www.sgv.com.ph BOA/PRC Reg. No. 0001, January 25, 2010, valid until December 31, 2012 SEC Accreditation No. 0012-FR-2 (Group A), February 4, 2010, valid until February 3, 2013 *SGVMC116501* A member firm of Ernst & Young Global Limited
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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
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- 9 - For all other financial instr
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- 11 - Estimates of changes in futu
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- 13 - Gains or losses arising from
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- 15 - Once a financial asset or a
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- 17 - Income Taxes Current tax Cur
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- 19 - Related party relationships
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- 21 - PFRS 13, Fair Value Measurem
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- 23 - d. Discontinued Operations M
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- 25 - As of December 31, 2011 and
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- 27 - The following methods and as
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- 29 - As at December 31, 2011, the
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- 31 - Change in nominal 2010 Chang
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6. Cash and Cash Equivalents This a
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10. Other Current Assets This accou
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Office and Communication Equipment
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- 39 - value of the additional inte
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16. Interest-Bearing Loans - 41 - T
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- 43 - The Group’s objective is t
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The major categories of plan assets
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- 47 - (f) On July 1, 2011, the Par
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- 49 - In the ordinary course of bu
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- 51 - The table below shows the in
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- 53 - Segment information as of an
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- 55 - The results of IRCGmbH’s o
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- 1 - I-REMIT, INC. SCHEDULE OF RET
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- 3 - Schedule II Page 2 of 5 PFRSs
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- 5 - Schedule II Page 4 of 5 Impor
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- 7 - I-REMIT, INC. AND SUBSIDIARIE
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Name of Debtor - 9 - I-Remit, Inc.
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- 11 - I-Remit, Inc. and Subsidiari
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- 13 - I-Remit, Inc. and Subsidiari
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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
Page 172 and 173: - 29 - IRCL On October 1, 2004, the
Page 174 and 175: - 31 - 2009 Balance Sheets Statemen
Page 176 and 177: 13. Beneficiaries and Other Payable
Page 178 and 179: - 35 - In 2009 and 2008, the Parent
Page 180 and 181: - 37 - The amounts of retirement ex
Page 182 and 183: - 39 - (b) A lease agreement with W
Page 184 and 185: 22. Related Party Transactions - 41
Page 186 and 187: - 43 - The amounts payable to PSAGL
Page 188 and 189: - 45 - In the opinion of management
Page 192 and 193: I-REMIT, INC. 26/F Discovery Centre
Page 194: I-REMIT, INC. AND SUBSIDIARIES (Com
Page 197 and 198: I-REMIT, INC. AND SUBSIDIARIES Cons
Page 199 and 200: I-REMIT, INC. AND SUBSIDIARIES Cons
Page 201 and 202: Item 1. Financial Statements PART I
Page 203 and 204: Below are the comparative key perfo
Page 205 and 206: Worldwide Exchange Pty Ltd Performa
Page 207 and 208: million as of March 31, 2012, a dec
Page 209 and 210: Lucky Star Management Limited Perfo
Page 211 and 212: Power Star Asia Group Limited Perfo
Page 213 and 214: Summary of Significant Accounting P
Page 215 and 216: Day 1 difference Where the transact
Page 217 and 218: Historical loss experience is adjus
Page 219 and 220: Foreign Currency Risk Foreign curre
Page 222 and 223: MINUTES OF THE ANNUAL STOCKHOLDERS
Page 224 and 225: RELEVANT RESOLUTIONS APPROVED BY TH
Page 226: February 17, 2012 March 23, 2012 Ma
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SEC Form 20-IS - iRemit Global Remittance

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