Resource Library

Through our 40+ year history, we’ve stayed at the forefront of recognizing clear paths to better outcomes. We encourage you to now read through the content we’ve composed to give you ideas worth considering for the future of your business.

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What Every Early Stage Company Should Know About Common Stock Valuations

Prior to 2004, it was common practice to set the fair market value of common stock for purposes of setting option exercise prices by loosely estimating an appropriate discount from the price of recently issued preferred stock. The discount to the most recent preferred stock...

March 30, 2016

Blog

Elements of a Plan to Sell to Insiders

Today we discuss the essential elements of a plan owners use to transfer a business to insiders (with the help of skilled advisors) that keeps the owner in control until he or she is paid the sale price. If you suspect that the children, key...

March 24, 2016

Blog

Value Drivers

Let’s talk about transferable value: the value buyers look for and pay for when making acquisitions.  Value drivers increase transferable value if they contribute to cash flow both during and after the original owner’s tenure. Determining how to increase transferable value is the owner’s job.  But...

February 17, 2016

Blog

Retiring Boomers: The Good, the Bad, and the Opportunities

The Good It has been discussed for a decade now; the huge bubble of people born after WWII until the middle of the 60’s is quickly approaching retirement.  You’ve heard the numbers; Those rumblings you hear could be an avalanche of Boomer sellers of unheard...

January 12, 2016

Blog

Do ESG Programs Create Value For Your Company?

The market recognizes that companies with high ratings for environmental, social and governance (ESG) factors are lower risk than other companies and the market rewards them accordingly. In the hierarchy of factors that count with investors and markets in general, governance is ranked highest and...

December 3, 2015

Blog

Three Factors Driving Value (and Risk) in Craft Breweries

The Craft Beer industry is one of the fastest growing alcoholic beverage segments in the United States. According to IBISWorld the industry has experienced annualized revenue growth of 19.0% in the five years leading up to 2014, reaching an estimated $4.2 billion in 2014. Industry...

October 7, 2015

Blog

Industry Update: IRS publishes an internal document that reveals the agency’s most current thinking on the valuation of S Corps

The IRS S corp Job Aid says in the introductory section: [A]bsent a compelling showing that unrelated parties dealing at arm’s-length would reduce the projected cash flows by a hypothetical entity level tax, no entity level tax should be applied in determining the cash flows...

September 3, 2015

Blog

“Under the Hood” of Complex Securities

A “Complex Security” can refer to a number of different financial securities including: 1) preferred stock; 2) convertible debt; 3) options; and 4) warrants. What makes one security more complex over the other? Simply put, it is the number of unknown variables or conditions that...

September 3, 2015

Blog

Common Pitfalls in Management Projections

For an operating company, the income approach often provides the best indication of value to rely upon, because it reflects the cash flow expectations specific to the company. The income approach, specifically a discounted cash flow analysis (“DCF”), captures the value of a company’s future...

September 3, 2015