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I
<br /> S H
<br /> STM Services,Inc.and Subsidiaries,SFM Security Services,Inc.,
<br /> and Gaming Facilities Services,LLC
<br /> Notes to the Consolidated Combined Financial Statements
<br /> For the year ended December 31,2016
<br /> A. Nature of Operations
<br /> SFM Services,Inc, and Subsidiaries(the"Company")was organized to provide janitorial and
<br /> landscaping services to both state and local government and private customers throughout
<br /> Florida.
<br /> The consolidated combined financial statements include the balances of SFM Services,Inc.,and
<br /> four wholly owned subsidiaries,and SFM Security Services,Inc.as noted below.
<br /> SFM Janitorial Services,LLC,a wholly owned subsidiary of SFM Services,Inc.,was organized
<br /> on May 9,2006,to provide janitorial services to customers in Florida.
<br /> SFM Landscape Services, LLC, a wholly owned subsidiary of SFM Services, Inc., was
<br /> organized on May 9,2006,to provide landscape services to state and local governments as well
<br /> as private clients.
<br /> Grove Asset,LLC,a wholly owned subsidiary of SFM Services,Inc.,was organized on August
<br /> 24,2009,to purchase investments and capital assets.
<br /> SFM Construction,LLC a wholly owned subsidiary of SFM Services, Inc.,was organized on
<br /> November 17, 2009, to provide construction type services to customers in Florida. This
<br /> Company was inactive until June 2010.
<br /> SFM Security Services, Inc. is a Florida corporation organized on October 30, 1992, for the
<br /> ® purpose of providing security guard services in Miami and the surrounding areas.
<br /> ® Gaming Facilities Services,LLC is a Florida corporation organized on May 2, 2016, for the
<br /> purpose of providing janitorial services in Miami and the surrounding areas.
<br /> B. Summary of Significant Accounting Policies
<br /> Cash and Cash Equivalents
<br /> The Company considers as cash equivalents all highly liquid debt instruments that are readily 11
<br /> convertible to known amounts of cash and with a maturity date of less than 90 days.
<br /> Principles of Combination and Consolidation
<br /> • The consolidated financial statements include the accounts of SFM Services,Inc.and the wholly
<br /> owned subsidiaries, SFM Janitorial Services,LLC and SFM Landscape Services, LLC, SFM
<br /> Construction, LLC, and Grove Asset, LLC. The combined financial statements include the
<br /> accounts of SFM Security Services, Inc. and SFM Services, Inc. and the wholly owned
<br /> subsidiaries.All material intercompany transactions have been eliminated.
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<br /> III
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<br /> :. _ SFM
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