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• • NOTES TO CONSOLIDATED FINANCIAL STATEMENTS ADJUSTERS INTERNATIONAL, INC. AND SUBSIDIARIES December 31, 2016 and 2015 NOTE A--SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation of Consolidated Financial Statements: The consolidated financial statements include the accounts of Adjusters International, Inc. ("Al") and its majority owned subsidiaries, 126 Business Park Partners and Mosaic Accounting, Inc.iand�its wholly owned subsidiary Tidal Basin Holdings, Inc. and its subsidiaries ("Tidal cBasinr) (collectively "the Company") (See Note B). AI has an 82% ownership interest in 12643uiness Park Partners and a 99% ownership interest in Mosaic Accounting, Inc. All materitintercompany accounts and transactions have been eliminated in consolidation. oOC Nature of Business: Adjusters International, Inc. is a bnsulting organization, operating throughout the United States and in various foreign markets that provides claims, grant management and related services to public and private entities affected by disasters and involved in disaster relief Al has inactive subsidiaries-in Australia (Adjusters International PTY Limited) and the United Kingdom (Adjusters International Limited). Those subsidiaries exist solely to enable AI to conduct business in these countries and have no assets or liabilities. AI also provides services to affiliated firms and receives fees pursuant to operating agreements (See Note H). t1/4�Q� o D� 126 Business Park Partners (thej`Partnership") is a partnership which owns rental real estate located in Utica, New York: tenants are Adjusters International, Inc., who currently occupies approximatel84�o\o yf the building, and Basloe, Levin & Cuccaro, Ltd. ("BLC") who occupies the remainiiI 16%. In addition, BLC has a 17.31% ownership interest in AI. Mosaic Accounting, Inc. is a consulting,organization, operating throughout the United States, providing claim preparation services to public and private entities involved in the disaster claim process. Tidal Basin Holdings, Inc. and its wholly owned subsidiaries Tidal Basin Government Consulting, LLC and Tidal Basin Group, Inc., are global leaders in providing emergency management and homeland security consulting at the Federal, state, and local levels and to its many private sector clients. Tidal Basin also does business as Paratus Management Partners, LLC, Tidal Basin Federal, LLC and Tidal Basin Commercial Services, LLC. Tidal Basin is also a joint venture partner in Vanguard Emergency Management Housing Inspection Services (See Note C). I -9-