Ask for the certificate of incorporation, the share register, issued certificates, subscription agreements and board resolutions, plus proof of each owner's citizenship. A spreadsheet prepared by the founders helps organize the evidence but needs underlying support. Records should reconcile with the money actually paid in for the shares.
Reconcile the share register with the bank record
For each issuance or transfer, identify the actual consideration and supporting corporate records. Some shares may reflect cash, property or another arrangement, so do not invent a bank transfer to explain every holding. Trace cash contributions from lawful source to the recipient, and explain genuine noncash transactions on their own records. Resolve discrepancies in dates or minutes accurately, without backdating or altering the underlying ownership history.
The money stack traces every dollar from a lawful origin to the escrow account: sale agreements for assets liquidated, tax filings reporting the proceeds, loan agreements and security documents for anything borrowed, and consecutive bank statements with no unexplained gaps. The equipment schedule, contracts, receivables and financial statements support the valuation, which is the denominator in the substantiality test, and demonstrate that the enterprise is real and operating rather than a shell.
The officer reads the agreement, not only the share register.