Funding will not be complete until an audit is done on the company. Just makes sense. If the audit company is chosen, they could complete the audit within a week or two! I'd guess for a public company, this could cost anywhere from $7500-15,000.
I'd say funding won't be done until then! They don't want to be looking at some crappy financials. They want GAAP approved, CPA signed off financials.
The funders are going to want to see this company is on the way to legitimacy. Which means fully reporting.
One great thing with this is that perhaps they are able to get non dilutive financing by doing all this, which would be well worth it for everyone involved!
