of the registration statement all of which required the full attention of all parties on the offering firm's team one of the important features features of the registration process was the performance of due-diligence procedures due diligence referred to the process of providing reasonable grounds that there was nothing in the registration statement that was significantly untrue or misleading and was motivated by the liability of all parties to the registration statement for any material misstatements or omissions due-diligence procedures involved such things as reviewing company documents contracts and tax returns visiting company offices and facilities soliciting comfort letters from company auditors and interviewing company and industry personel