rkie
Yes, it will take some time and effort to get the financials complete. In the meantime, the 15 eliminates the danger of suspension.
If they choose, auditors could begin by submitting recent data with Pinksheets.com to get the ball rolling. It is probable that at minimum there are unaudited numbers and tax returns from the newly acquired firm.
There will be forensic activity on the pre-merger data from the old company and of course that is dependent on what indeed still exists and is deemed "reasonably available".
It is possible they may simply start at the inception date (2006) of the acquired firm and claim/assert no other records are available without "undue and unreasonable" expense. This path starts the books off clean and they will not be paying auditors to resurrect/certify aged records that return no value for reasons outlined in the next paragraph.
I highly doubt that an any unexpired loss carry forward would qualify under the "like business" requirement that precludes effecting mergers for the sake of tax avoidance.
Any competent auditor will, out of fiduciary duty, investigate such a possibility.
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