The December 31, 2016 and December 31, 2015 audited consolidated financial statements of the Company and its Subsidiaries and the June 30, 2017 and June 30, 2016 unaudited consolidated financial statements of the Company and its Subsidiaries heretofore delivered to the Purchasers were prepared in accordance with generally accepted accounting principles (subject, in the case of the June 30, 2017 and June 30, 2016 financial statements, to normal year-end adjustments) in effect on the date such statements were prepared and fairly present the consolidated financial condition and operations of the Company and its Subsidiaries at such date and the consolidated results of their operations for the period then ended.