Clearwire 2008 Annual Report Download - page 86

REPORT OF INDEPENDENT REGI
S
TERED PUBLIC ACCOUNTING FIR
M
To t
h
e Boar
d
o
f
D
i
rectors an
d
Stoc
kh
o
ld
ers o
f
C
l
earw
i
re Corporat
i
on
K
irkland, Washin
g
to
n
We
h
ave au
di
te
d
t
h
e accompan
yi
n
g
conso
lid
ate
db
a
l
ance s
h
eet o
f
C
l
earw
i
re Corporat
i
on an
d
su
b
s
idi
ar
i
es
(
formerly the WiMAX Operations of Sprint Nextel Corporation) (the “Company”) as of December 31, 2008, an
d
t
he related consolidated statements of operations, cash flows, and stockholders’ equity and comprehensive loss fo
r
th
e
y
ear t
h
en en
d
e
d
.T
h
ese conso
lid
ate
dfi
nanc
i
a
l
statements are t
h
e respons
ibili
t
y
o
f
t
h
e Compan
y
’s mana
g
ement.
O
ur responsibilit
y
is to express an opinion on the consolidated financial statements based on our audit.
We conducted our audit in accordance with the standards of the Public Compan
y
Accountin
g
Oversi
g
ht Board
(
Un
i
te
d
States). T
h
ose stan
d
ar
d
s requ
i
re t
h
at we p
l
an an
d
per
f
orm t
h
eau
di
ttoo
b
ta
i
n reasona
bl
e assurance a
b
out
w
hether the consolidated financial statements are free of material misstatement. The Compan
y
is not required to
have, nor were we en
g
a
g
ed to perform, an audit of its internal control over financial reportin
g
. Our audit included
c
ons
id
erat
i
on o
fi
nterna
l
contro
l
over
fi
nanc
i
a
l
report
i
ng as a
b
as
i
s
f
or
d
es
i
gn
i
ng au
di
t proce
d
ures t
h
at are
appropr
i
ate
i
nt
h
ec
i
rcumstances,
b
ut not
f
or t
h
e purpose o
f
express
i
n
g
an op
i
n
i
on on t
h
ee
ff
ect
i
veness o
f
t
he
Compan
y
’s internal control over financial reportin
g
. Accordin
g
l
y
, we express no such opinion. An audit also
i
ncludes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements,
assess
i
n
g
t
h
e account
i
n
g
pr
i
nc
i
p
l
es use
d
an
d
s
ig
n
ifi
cant est
i
mates ma
d
e
by
mana
g
ement, as we
ll
as eva
l
uat
i
n
g
t
he
overa
ll fi
nanc
i
a
l
statement
p
resentat
i
on. We
b
e
li
eve t
h
at our au
di
t
p
rov
id
es a reasona
bl
e
b
as
i
s
f
or our o
pi
n
i
on
.
I
n our opinion, such consolidated financial statements present fairl
y
, in all material respects, the financial
p
osition of Clearwire Corporation and subsidiaries as of December 31, 2008, and the results of their operations and
th
e
i
r cas
hfl
ows
f
or t
h
e year t
h
en en
d
e
di
n con
f
orm
i
ty w
i
t
h
account
i
ng pr
i
nc
i
p
l
es genera
ll
y accepte
di
nt
h
eUn
i
te
d
S
tates o
f
Amer
i
ca
.
As
di
scusse
di
n Note 1 to t
h
e conso
lid
ate
dfi
nanc
i
a
l
statements, on Novem
b
er 28, 2008, C
l
earw
i
re Corporat
i
o
n
and the WiMAX O
p
erations of S
p
rint Nextel Cor
p
oration (the “S
p
rint WiMAX Business”) com
p
leted a busines
s
c
om
bi
nat
i
on. For
fi
nanc
i
a
l
report
i
ng purposes, t
h
e Spr
i
nt W
i
MAX Bus
i
ness was
d
eterm
i
ne
d
to
b
et
h
e account
i
ng
acquirer and the accountin
g
predecessor to the Compan
y
. The consolidated financial statements of the Compan
y
fo
r
t
he
y
ear ended December 31, 2008 include the results of the Sprint WiMAX Business from Januar
y
1, 2008 throu
gh
N
ovem
b
er 28, 2008, an
d
t
h
e conso
lid
ate
d
resu
l
ts o
f
t
h
e com
bi
ne
d
ent
i
ty
f
or t
h
e per
i
o
df
rom Novem
b
er 29, 200
8
th
rou
gh
Decem
b
er 31, 2008. T
h
e accounts o
f
t
h
e Spr
i
nt W
i
MAX Bus
i
ness
f
or t
h
e per
i
o
d
pr
i
or
f
rom Januar
y
1, 2008
t
hrou
g
h November 28, 2008 have been prepared from the separate records maintained b
y
Sprint Nextel Corporatio
n
and reflect allocations of expenses from Sprint Nextel Corporation and, therefore, may not necessarily be indicativ
e
o
f
t
h
e
fi
nanc
i
a
lp
os
i
t
i
on, resu
l
ts o
f
o
p
erat
i
ons an
d
cas
hfl
ows t
h
at wou
ld h
ave resu
l
te
dh
a
d
t
h
eS
p
r
i
nt W
i
MAX
Bus
i
ness
f
unct
i
one
d
as a stan
d
-a
l
one o
p
erat
i
on
.
/
s
/
De
l
o
i
tte & Touc
h
eLL
P
Seatt
l
e, Was
hi
n
g
to
n
M
arch 25, 2009
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