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INTERMEDIX HOLDINGS INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements December 31, 2010 related service providers. The Company offers a comprehensive RCM solution, seamlessly combining robust technologies and services to manage the policy administration, clinical documentation, billing and informatics needs of its emergency healthcare and other clients. Certain RCM contracts also include the provision of electronic patient care reporting (ePCR) systems. The Company's RCM customers, all of which are part of the emergency service provider market, include (i) emergency room physicians, (ii) hospital emergency medicine departments, (iii) emergency medical transportation providers (EMS) — both ground and air, (iv) fire departments, and (v) 911 - emergency first responders. Customers include both governmental municipalities and private- sector service providers located throughout the United States (U.S.). As a result of the EMSystems, LLC (Systems) acquisition in April 2010 by the Predecessor (see note 5), the Company provides web -based healthcare information technology solutions in the public health and emergency services markets. Systems' users include hospitals, EMS providers, fire departments, law enforcement agencies and state and local departments of health. Technology offerings include (i) real -time communications, (ii) inventory and resource management, (iii) mass multi -media notification, (iv) volunteer registry tracking, (v) patient and evacuee tracking, and (vi) pre - hospital ePCR systems that seamless interface with the Company's RCM services. These solutions integrate a full range of key emergency preparedness and response activities, and scale from daily use to large -scale utilization surges during regional and or national mass casualty and public health incidents. (3) Summary of Significant Accounting Policies (a) Basis of Presentation and Principles of Consolidation The consolidated financial statements include the consolidated accounts and operations of the Company and Predecessor and their respective wholly owned subsidiaries and have been prepared in accordance with generally accepted accounting principles in the United States of America (GAAP). All significant intercompany accounts and transactions have been eliminated. The financial information for the period from August 23, 2010 through December 31, 2010 and as of December 31, 2010 is referred to in the consolidated financial statements and accompanying notes as the "Successor" financial information. The financial information for the period from January 1, 2010 through August 22, 2010 is referred to in the consolidated financial statements and accompanying notes as the "Predecessor" financial information. Black lines have been drawn to separate the Successor's financial information in the consolidated financial statements from that of the Predecessor since their financial statements are not comparable as a result of the application of acquisition accounting and the Company's capital structure resulting from the Merger. (b) Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Management utilizes estimates in determining the value of stock -based compensation awards, the fair value of financial instruments, the useful lives of its long -lived and intangible assets, allowances for doubtful accounts, (Continued)