The Yield Curve Just Inverted… Doomsday?

Yesterday, December 3, 2018, the United States Treasury Yield curve officially inverted for the first time since the Great Recession around the three- and five-year Treasury yields, with the yield closing at 2.840% and 2.830%, respectively. Of course, this resulted in headline readers reaching out to their brokers to liquidate their stocks in favor [...]

By |2018-12-04T15:40:30+00:00December 4th, 2018|Acquisitions, Featured, Spotlight, Uncategorized|0 Comments

Financial Reporting in the Cannabis Industry: Impact of ‘Biological Asset’ Rules

By: Zach S. Ramey, CPA In the world of mergers and acquisitions, private equity and venture capital, words like “high-growth potential” and “new markets” are music to the ears of analysts and investors. Companies that operate in the unchartered waters of new industries are poised to disrupt the status quo and can change the [...]

By |2018-11-19T15:10:26+00:00November 19th, 2018|Acquisitions, Cannabis, Featured|0 Comments

Policy & Procedures Checklist for Private Equity Investments in the Blockchain Industry

By Daniyal Inamullah, CFA Overview After the recent collapse of the cryptocurrency bubble, the appetite for institutional capital in the blockchain industry is still low, but there is an intensified focus on corporate governance, legal structure, and project teams. Investors looking to structure deals in the space need to implement appropriate methodologies for valuation [...]

By |2018-11-06T15:08:48+00:00October 24th, 2018|Acquisitions, Blockchain, Private Equity, Valuation|Comments Off on Policy & Procedures Checklist for Private Equity Investments in the Blockchain Industry

Publicly Traded Blockchain Companies: Understanding Risk for a New Market

By: Daniyal Inamullah, CFA Without the advantage of being part of a reputable VC or Angel group, or actively working on early-stage company investments, public market information offers retail investors with the best knowledge to invest in micro and small cap companies. Due to the asymmetric information and profit potential associated with any new [...]

By |2018-11-06T15:09:20+00:00October 15th, 2018|Acquisitions, Blockchain, Financial, Presentations, Select Articles, Valuation|Comments Off on Publicly Traded Blockchain Companies: Understanding Risk for a New Market

Earnings Quality is More than Adjusted EBITDA

Buyers perform exhaustive pre-acquisition due diligence of target companies that spans financial, tax, legal, IT, operational, marketing, HR, and other matters.  Central to financial due diligence is the target’s earnings quality.  Discussion of earnings quality usually focuses solely on recent historical EBITDA, normalized by making various adjustments.  Of course, normalized EBITDA is critical information. [...]

By |2018-10-17T13:32:25+00:00October 5th, 2018|Acquisitions, Financial, International, Select Articles, Taxes|Comments Off on Earnings Quality is More than Adjusted EBITDA

Fair Market Value to Fair Value reconciliation in Machinery and Equipment Appraisals

Fair Market Value (“FMV”) is a proposed opinion of value of an asset, supported by sound research and generally accepted valuation methods, that could be received in the market. Whereas Fair Value (“FV”) is the realized value of a piece of equipment upon the actual sale of an asset. In Machinery and Equipment appraisals (“M&E”), [...]

By |2018-09-19T10:44:25+00:00September 19th, 2018|Acquisitions, Financial, Select Articles, Valuation|Comments Off on Fair Market Value to Fair Value reconciliation in Machinery and Equipment Appraisals

Oil & Gas Valuation Techniques in a Dynamic Commodity Pricing Environment

April 5, 2018 Author: Daniyal Inamullah, CFA Exploration and production (“E&P”), commonly referred to as the ‘upstream’ portion of the energy industry value chain, includes activities related to the exploration, exploitation, and production of certain oil and gas resources. The process to value companies that operate in this portion of the oil and gas industry [...]

By |2018-04-05T15:56:43+00:00April 5th, 2018|Acquisitions, Oil & Gas|Comments Off on Oil & Gas Valuation Techniques in a Dynamic Commodity Pricing Environment