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Unconsolidating

Regulation S-X, in relevant part, provides that “[t]here is a presumption that consolidated statements are more meaningful than separate statements and that they are usually necessary for a fair presentation when one entity directly or indirectly has a controlling financial interest in another entity.” In this regard, the Staff commented that an investment company that is a feeder fund in a master-feeder structure or an investment company that is a fund-of-funds in the same group of investment companies may have “a controlling financial interest in another entity” for purposes of Regulation S-X, which would generally require consolidated financial statements.

Because a feeder fund is one of several investors in a master fund, the Staff stated that unconsolidated disclosure provides a meaningful and appropriately transparent presentation of the financial position and results of operations of the feeder fund.

According to the Guidance, instead of consolidating financial statements, a feeder fund should attach the financial statements of the master fund to its financial statements.

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Owing to presence of straight contracts with large number of ports or with their operators or stevedore companies, "BIMEX GROUP" helps our clients in choosing the most optimal port for cargo transfer reloading and to choose right marine and inland waterway tonnage for transportation according to volume and weight of cargo shipment, its type, transportation route and other special conditions which are required by a client to transportation.

Our company organizes fast and qualified transfer - reloading of all types of cargoes in sea and river ports in different regions of the world, in particular: • transfer - reloadings of cargoes by marine and inland boats from other types of transport and vice versa; • custody services in open / close places; • registration of customs documents, consignments, manifests, charts and other cargo and transport documents; • consolidating and unconsolidating of cargo shipments; • marking and remarking of cargoes; • stevedore works, separation, fastening and unfastening of cargoes; • talma services; • assignment of services of independent server.

"Consolidated sediments" is essentially solid rock made from materials that have been metamorphosed or cemented together.