Advise Ingrid and Isabel in relation to potential implications in relation to financial record keeping and financial disclosure obligations if the company were to raise additional funds through CSF

", Suggested time allocation - 22 minutes] Ingrid and Isabel registered i-Catching Pty Ltd in 2019 to sell designer eyeware online. They are directors and equal shareholders of the company. Their brand has proven to be incredibly popular, and the business has grown exponentially. The company does not have many assets apart from the stock that it carries, but made a $750 000 profit during the previous financial year. In fact, their success motivated them to explore the possibility of a brick- and-mortar location for their business to further boost brand awareness. They did this by experimenting with a pop-up shop, that once again proved to be very successful. In fact, Ingrid and Isabel think that the recent drop in commercial rent presents the perfect opportunity for them to expand their physical retail footprint by establishing a permanent location in the Sydney and Melbourne CBDS. They estimate that this expansion would require a capital input of at least $3.5 million. Ingrid and Isabel are very opposed to borrow money to fund the expansion and are considering the possibility of raising capital through shares. They recognise that the company developed a very loyal online following and think that crowd-sourced equity funding (CSF) would be the most appropriate way to raise the funds. However, they are not sure whether their company would be able to use this mechanism and decide to approach you for advice. (2.2) Advise Ingrid and Isabel in relation to potential implications in relation to financial record-keeping and financial disclosure obligations if the company were to raise additional funds through CSF. [15 marks]