Dr. Jules Kamin received his Ph.D. in business economics, finance and management science from the University of Chicago Graduate School of Business, rated #1. He is an expert on Economic Damages and Economic / Financial Aspects of Liability. He brings to the practice of forensic economics a unique combination of educational background, practical business and teaching experience, and a proven record of expert retention and testimony in over five hundred cases since 1987. Services Include:
Commercial damages occur in breach-of-contract and business-tort cases that result in claims of lost profits or diminished business goodwill or business value. Intellectual-property-infringement cases and antitrust cases also can involve such loss claims. The measurement of damages in these types of cases follows a basic methodology, with some variations in intellectual-property matters. Measurement of damages in securities-fraud cases uses a different approach.
Richard M. Teichner, CPA, ABV, CVA, MAFF, CFF, CRFAC, CRFAU, DABFA, FCPA, CGMA, CDFA, licensed in both Nevada and California, has over 45 years of experience in public accounting, and for approximately 25 of those years his areas of practice have been primarily providing expert services and consulting services in business litigation and family law matters. With offices in Reno and Las Vegas, Nevada, Mr. Teichner's practice extends to various jurisdictions throughout the United States. Although Mr. Teichner's services are mainly weighted toward complex business litigation and divorce matters, they also include performing valuations of businesses and business interests for estate tax and gifting purposes and for buy-sell situations. Clients have been both businesses and individuals involved in various industries, such as manufacturing, distribution, retail sales, construction, real estate development, and transportation, and in professional practices, e.g. medical, law and accounting, and other service businesses.
Litigation Matters - Expert services are provided to business litigation and family law litigation attorneys representing either plaintiffs or defendants. Mr. Teicher has testified over 45 times at trial and approximately 40 times at depositions. He has been engaged as a testifying expert or consultant in a variety of complex business litigation and family law matters. Such matters have involved forensic accounting, damages claims; contract disputes; disputes among business owners; fraud, including white collar crime; breaches of fiduciary duty; standards of care; and personal injury and wrongful death. Family law matters have involved property division, tracing, marital waste, alimony, business valuations, and tax implications of divorce.
Areas of Expertise:
Economic Damages / Lost Profits
Personal Injury / Wrongful Death Damages
Divorce and Family Law Matters
Business Valuations / Appraisal
Intangible Assets Appraisal
White Collar Crime
Standards of Care; Breach of Fiduciary Duties
Reno Office 3500 Lakeside Ct, Suite 210 Reno, Nevada, 89509 Telephone: 775-828-7474 or (775) 530-5106
Las Vegas Office 8275 S. Eastern Avenue, Suite 200 Las Vegas, Nevada 89123 Telephone: 702-724-2645 or (702) 467-8335
J. Armand Musey, CFA, JD/MBA, founder and president of Summit Ridge Group, LLC, provides consulting services for the Satellite, Media and Telecommunications Industries including business appraisal, intangible asset valuation, strategic consulting, custom research.
Mr. Musey is a highly regarded financial analyst with expertise in Asset Valuation, Business Valuation, Financial Analysis of Economic Damages and Financial Scenario Analysis. He also has significant experience in corporate governance and investment research practices. Mr. Musey's clients include media and communications companies, institutional investors, law firms and other professional services providers.
Mr. Musey has a unique blend of 16 years of equity research (top-ranked sell-side analyst), investment banking and consulting experience. He has completed dozens of financial valuation, strategy analysis, business development and business plan creation assignments in the communications industry. He has experience in 18 financing and M&A transactions.
Stanley P. Stephenson, Ph.D. Economics, has provided Economic Litigation services in more than 400 cases. His experience includes Business Valuations, Economic and Quantitative Analysis and Market Assessments.
Dr. Stephenson's Expert Witness services are provided to defense counsel and plaintiff attorneys. He has been involved in cases in various industries including high-tech manufacturing, software development, agricultural product processing, auto accessories, hotel, real estate, eating & drinking establishments, pharmaceutical, chemical, hospital, insurance, transportation, professional sports, retail, petroleum and cosmetics.
This paper presents a method for measuring economic damages in wrongful termination cases. Such cases present the damages expert with a problem since the available studies of earnings recovery after a job loss are based on a limited time period after a job loss and many workers never catch-up to the previous earnings level. A two-step approach is offered. First, the expert uses appropriate available empirical evidence to develop a typical earnings catch-up period. Second, the expert gathers information about case factors affecting the duration of the period to earnings catch-up. Using these factors, the expert modifies the base time period to develop a reasonable range of years for earnings catch-up. The ultimate choice of lost earnings is left for the court to decide, given the range presented by the expert. Cases directly or indirectly supporting this method are presented.
Imagine you are lead counsel on an airline crash case in which more than 200 lives were lost, each involving a wrongful death case. A plaintiff attorney has hired an economist whose report on damages for one person, a Korean leather goods importer, exceeded $200 million. What should you do? Plaintiff’s expert is a Ph.D. from a top university who teaches economics and has many publications.
This paper focuses on business interruption litigation and how to compute lost profits as a remedy. The main contribution of the paper is development of a general model of economic damages which assesses lost profits by measuring the incremental changes in revenue, variable costs, and fixed costs.
Defects introduced in construction can lead to classic legal disputes between owners and contractors, especially when considerable sums of money are involved. What can a commercial mortgage broker learn from these disputes? What risks and potential rewards might arise?
Survival risk of new businesses is a challenging issue to incorporate into lost profits analyses used in litigation, an issue some financial experts and courts ignore rather than consider explicitly. This paper considers several ways to make qualitative and quantitative adjustments for the survival rates of new businesses.
The forensic financial expert may be familiar with assessing lost profits, earnings capacity, or even valuing a business, but what is the expert to do about damages arising from lost ability to engage in non-market work? In a personal injury, wronful death or similar tort cases, physical limitations may restrict market and non-market work the latter forming the basis for an additional source of damages.
Today's economists are still concerned however with issues of value and distribution and how market forces operate to price scarce resources like labor, land, machines and more recently information and time. The field is generally divided into two areas: macroeconomics and microeconomics.
Stanley P. Stephenson, David A. Macpherson & Gerald D. Martin
Uses proven procedures, checklists, samples and tables to value economic loss in wrongful death and personal injury cases. Learn how to calculate damages, what to ask a forensic economist, which tables to consult for current information on damages and more.
Dr. Stan V. Smith is a nationally renowned Economist and Financial Consultant providing analysis in simple terms that any trier-of-fact can understand. As an expert consultant to plaintiff and defense attorneys representing clients in Federal State courts, he provides testimony and litigation support services in evaluating damages.
Dr. Smith provides Analysis, Testimony, and Litigation Support Services in Evaluating Damages for plaintiff and defense attorneys representing clients in federal and state courts nationwide. His concept of Hedonic Damages is acknowledged by judges, attorneys, and legal journalists as one of the most innovative tort concepts in the last 30 years. He has been interviewed and published in dozens of respected professional journals. Dr. Smith has assisted in the successful resolution of thousands of lawsuits on behalf of clients that include many dozens of the nation's largest law firms, the U.S. Department of Justice, as well as thousands of other prominent plaintiff and defense law firms in almost every state.
The increased use of economic experts in commercial damage cases, as well as in personal injury and wrongful death cases, has resulted in the emergence of a group of experts who offer economic services but are unqualified and ill-trained in economics.
Sidney P. Blum, CPA, CFE, CPEA, CFF has 30 years of professional and testifying expert experience in the areas of Royalty Auditing,Forensic Accounting, Intellectual Property Economic Damages, and General Economic Damages. Mr. Blum was named California CPA of the Year (2017) and Certified Fraud Examiner of the Year (2012). He is a Certified Fraud Examiner, Certified Professional Environmental Auditor, and Certified in Financial Forensics by the AICPA. Mr. Blum was a KPMG Partner. He specializes in breach of contract, lost revenues, patent infringement, copyright infringement, trademark infringement, lost pay, and wrongful termination.
As a world leading royalty auditor, Mr. Blum has extensive knowledge of the Georgia-Pacific factors and other major influences on reasonable royalty rates for intellectual property litigation. He led the national royalty audit practices for Big 4 firms Ernst & Young and KPMG and he also wrote the global methodologies for both firms. He is one of 5 members of the Board of Regents with the 80,000 member Association of Certified Fraud Examiners.
Clients: Mr. Blum's clients have included Adobe, Amgen, Beats Electronics, DGA, Disney, Dolby, DTS, DKNY, Ed Hardy, General Electric, General Motors, IGT, IMG, Marvel, Mattel, McDonalds, Microsoft, MLB, WWE, UMB Bank, Steven Spielberg, Harley-Davidson, and the NFL. Expert witness testimony on royalty audit standards and results.
Industries: Many industries such as medical devices, music, toys, energy, film, consumer products, electronics, apparel, automotive, manufacturing and biotech.
Desk Audits and Field Audits
Forensic Accounting and Investigative Audits
Royalty Reporting / System Audits
Evaluation of License Agreements
Royalty Compliance and Monitoring Programs
Royalty Compliance / Monitoring Program Reviews
Mr. Blum’s two books published by Oxford University Press and LexisNexis on financial terms in contracts are leading sources of valuable information for attorneys and contract negotiators. He has also made numerous presentations to law firms, professional groups, universities, and others regarding contract compliance and auditing.
Royalty auditing is a niche service that has exploded in popularity over the last 20 years. The primary purpose of a royalty audit is to test whether a licensee has complied with a license agreement or statutory requirement. The royalty auditor is hired by an intellectual property owner (aka, licensor) or minerals owner to inspect the books and records of a licensee primarily to determine if usage-based monetary amounts have been paid as contractually required. In addition to monetary damage calculations, most royalty audits examine for breach of contract in a wide variety of areas, such as intellectual property protection, record keeping, distribution channels, and permitted usage.
This book navigates readers through the nuances of drafting the best possible financial terms for license and other self-reporting agreements and shows how proper monitoring and auditing should occur once a deal is in place. The 2014 Edition includes updated information on how to properly write the financial aspects of royalty contracts to protect the licensor, licensee, and other concerned parties. Additional sample terms and "real-world" agreements have also been included.
This book navigates the nuances of drafting financial terms for license and other self-reporting agreements and shows how proper monitoring and auditing should occur once a deal is in place. This book will modernize and remold how agreements are written and will greatly enhance the bottom line of licensors and other contractors. Lawyers involved in drafting license and other self-reporting contracts typically understand boilerplate provisions but not the financial nuances that are subject to high degrees of interpretation that eventually costs their clients significant money and business relationships.
Dr. Istvan Jonyer provides a range of technical, intellectual property, and expert witness services across areas like Machine Learning, Telecommunications, Software Architecture, Innovation Commercialization, and Investment Management.
Investment Advisory Consulting Services:
Software Analysis, Design, and Architecture - Dr. Jonyer has built large-scale communications, web, and consumer electronics systems, and has scaled out teams and processes to support worldwide launches of complex systems. He has built large-scale communications, web, and consumer electronics systems, and has scaled out teams and processes to support worldwide launches of complex systems.
Due Diligence - Dr. Jonyer's expertise covers science, technology, business, market, and team diligence areas. He provides technical due diligence supporting venture capital, private equity, mergers and acquisitions, and IP portfolio acquisition. Intellectual property evaluation, patent portfolio valuation, and commercial value evaluation.
Market Research - Dr. Jonyer provides market research at various levels of depth, including market maps, value chain analysis, secondary market summaries, as well as primary research with the world’s experts of niche areas (where we don’t have such expertise firsthand).
Research & Planning Consultants, LP (RPC) has been assisting clients with expert services for over 45 years, including consulting and expert witness testimony for personal injury, healthcare litigation, commercial litigation and Certificate of Need matters. RPC also offers a wide selection of health data. They have served clients across the U.S, from Alaska to Florida and from New England to California.
A Complete Team of Damages Experts for Personal Injury Litigation
Research & Planning Consultants, LP provides the following services:
PERSONAL INJURY - RPC provides comprehensive damages analysis in personal injury litigation. Their expert team has life care planners, vocational evaluators, board-certified physicians, economists and neuropsychologists.
Areas of Expertise include: Life Care Plans, Loss of Earning Capacity or Support, Present Value of Damages, Medical Bill Analysis, Chargemaster Analysis, Neuropsychological Testing & Traumatic Brain Injury, Vocational Evaluations, IMEs, Section 18.001, Prestanding ED Chargemaster Analysis
COMMERCIAL LITIGATION- RPC has provided expert analysis on commercial litigation concerning many industries: chemicals, refining, forestry, waste management, pipelines, water resources, oil and gas EDP, fisheries, agriculture, electrical generating plants, transmission lines, telecommunications, and real estate development. Our special expertise in the healthcare industry has proven valuable to business litigators unfamiliar with this complex industry.
Areas of Expertise: Breach of Contract / Commercial Economic Damages, Construction Disputes, Litigation over Non-Competitive Agreements, Environmental Torts and Toxic Torts, Commercial Disparagement, Wrongful Termination
HEALTHCARE LITIGATION - RPC offers economic, statistical, data and clinical analysis in a wide range of healthcare litigation. They have experience with payment disputes, qui tam litigation, physician-hospital disputes, practice valuations and construction litigation.
Areas of Expertise: Qui Tam Healthcare Litigation, Medical Staff Disputes, Professional Liability, Payment Disputes, Health Facility Construction Disputes, Freestanding ED Chargemester Analysis
CERTIFICATE OF NEED - RPC provides Certificate of Need (CON) planning services nationwide. We have over 35 years of experience developing regulatory strategy, preparing applications and testifying in public and administrative hearings.
Areas of Expertise: Satellite Hospitals, New Hospitals, Relocation and Transfer of Beds, Observation Beds, Geriatric Psychiatric Units, Children’s Hospitals, Comprehensive Inpatient Rehabilitation Units, Neonatal Intensive Care Units, Open Heart Surgery Services, Long Term Acute Care Units, Projects that exceed CON Capital Threshold Limits, Projects for Specifically Listed Services, Programs Requiring CON, Hospices, Senior Living Facilities
Ronald T. Luke, JD, PhD, is a principal consultant and President of RPC, LP. Ron joined RPC in 1976 and became its president and principal owner in 1979. He has consulted on projects for health care providers, managed care plans and public agencies in more than 25 states. He also serves as an expert witness in trials, administrative proceedings and legislative hearings.
Active in the Health Policy Arena, Dr. Luke has been accepted as an expert in Economics, Socioeconomic Impact Analysis, and Policy Analysis by state and federal courts, and state administrative agencies. The types of cases in which he has provided expert testimony include personal injury, contractual disputes, health care payment disputes, construction defects, utility construction permitting, and certificate of need. He has testified on health care matters including market structure, billing fraud and abuse, reasonableness of charges, medical staff credentialing, workers’ compensation fee guidelines, utilization review, physician contracts, and managed care contracts.
Kacy L. Turner, MS, CRC, CVE, CLCP, is a Certified Life Care Planner and Vocational Consultant with RPC. She has over 20 years of experience in Rehabilitation. Ms. Turner has experience writing life care plans for both plaintiff and defense clients. She has experience as a rehabilitation consultant in three states and has been qualified as a testifying expert in state and federal court.
Ms. Turner has worked on cases in several states as well as the country of Trinidad. To determine the pre-injury and post-injury employability in personal injury cases, she provides vocational testing, transferable skills analysis, job requirements analysis, rehabilitation plans, and definition of reasonable accommodations under the American with Disabilities Act. She is a member of the International Association of Rehabilitation Professionals, the Texas Association of Rehabilitation Professionals and Providers of Services, and Vocational Evaluation and Career Assessment Professionals.
Brian Piper, PhD, is an Economist with RPC specializing in Quantitative Analysis and Modelling. He works on a variety of cases including personal injury and certificate of need. He is experienced in data extraction, management, simulation, and analysis using STATA, SQL, ARC GIS and a variety of other programs. Dr. Piper has taught graduate classes in statistics and econometrics in both MBA and Ph.D. programs.
Dr. Piper is an experienced expert, providing testimony, reports, and affidavits on the issues of economic damages in personal injury litigation, healthcare litigation, False Claims Act litigation, and other commercial litigation. He has testified on behalf of plaintiffs and defendants.
Dr. Piper specializes in the economics of healthcare. He has been retained by healthcare providers and insurers in payment disputes. He has analyzed the reasonableness of charges and expected payment for past and future medical services for providers, insurers, plaintiffs, and defendants. Besides work in litigation, Dr. Piper has provided analysis of Certificate of Need applications and the economic impacts of proposed legislation.
This paper identifies and discusses industry standards for what charge percentile threshold state laws and private health plans consider reasonable to determine allowable amounts for payment. The term &"allowable amount"; refers to the total amount a regulation or private health plan determines a provider should be paid. It is the sum of the payment responsibilities of the plan and the patient.
Nevium specializes in managing and increasing the value of intellectual property portfolios. You have your business plan; you have your marketing plan…Where is your IP plan? Quite surprising, most businesses don’t have an IP plan; nonetheless even know the total contents of their IP portfolio. At Nevium, we manage and monetize intellectual property and intangible assets. We believe these assets need to be identified, organized and managed in order to maximize value.
Nevium specializes in valuing, managing, monetizing and providing expert testimony related to intellectual property. Nevium values IP for business transactions, tax/estate, joint venture negotiations, transfer pricing and bankruptcy.
Nevium builds and manages intellectual asset management strategies for clients who want to monetize their IP. Mr. Bania and Mr. Buss are frequent lecturers on IP valuation and licensing issues and publish articles for numerous industry publications. Areas of expertise include music, apparel, publishing, film, food, automotive, sporting goods, furnishings, advertising, media, photography, retail and not for profit.
Consulting Services Include:
IP Management - Nevium Identifies, organizes and values IP and IA
IP Valuation - Nevium values brands, trademarks, copyrights, patents social media and Internet assets for M&A, estate, business transactions, tax and transfer pricing
IP Monetization - Nevium assists with setting royalty rates, building licensing agreements and buying and selling IP
Doug Bania, CLP, Founding Principal, has over a decade of expertise in managing, valuing and monetizing intellectual property. Prior to founding Nevium, Mr. Bania managed 100s of projects related to brands, intellectual property and the related intangible assets. He has assisted clients in intellectual property matters related to acquisitions, litigation, bankruptcy, tax, estate, family and marital disputes, and licensing. Mr. Bania delivers presentations and seminars on IP valuation, management and damages issues for various business and legal entities across the United States.
Brian Buss, CFA, Founding Principal, is a Chartered Financial Analyst with over 20 years of experience in valuations, financial analysis, and corporate finance both in the United States and overseas. Mr. Buss provides strategic advice for intellectual property portfolios and transactions, guidance in determining economic damages, and profit apportionment in civil litigation, and performs valuations of trademarks, patents, copyrights, brand assets, trade secrets, technology assets, celebrity endorsements and marketing activities, and other intangible assets.
Prior to founding Nevium, Brian Buss managed over 100 cases as an economic and valuation expert. He has developed financial models and forecasts for acquisitions, business valuations, licensing transactions, and new business ventures. His entrepreneurial experience includes serving as co-founder and financial officer for a technology start-up. Prior to launching Nevium, he worked at San Diego-based consulting firms, Westpac Institutional Bank, and Deloitte & Touche’s Financial Advisory Services group in New Zealand and San Francisco. Mr. Buss has been engaged to speak by various institutions, both nationally and internationally, on topics concerning finance, valuation, and damages.
San Diego Office 415 Laurel Street, Suite 341 San Diego, CA 92101 Telephone: 858-255-4361 Email: email@example.com
Los Angeles Office 9107 Wilshire Blvd., Suite 450 Beverly Hills, CA 90210 Telephone: 310-975-3145 Email: firstname.lastname@example.org
Based on our knowledge of and ability to analyze and value businesses, valuation professionals are uniquely positioned to provide valuable information to business owners and managers regarding the financial value of their brand assets. In other words, how a company's brand assets are contributing to the company's overall financial performance. This "Special Issue" of The Value Examiner is intended to kick-start the discussion on brand valuation by identifying the opportunities and challenges in completing brand valuation assignments for our clients.
Use of the Internet and social media has become an increasingly essential element of conducting business in the United States and globally, which in turn raises new issues for calculating damages and performing valuations. With almost every business now using the Internet and social media to conduct business, cases of Internet IP infringement, IP misuse, and defamation have increased and evolved. Before the rise of these new media, cases of infringement and defamation typically occurred in print or on television and were visually obvious.
Most of the existing literature on copyright infringement is concerned with the valuation of intellectual property rather than the apportionment of the value that is directly attributable to the intellectual property asset at issue. Further, few of the currently proposed IP valuation methods and little of the literature addressing the determination of damages appears directly applicable to the case of copyright in the context of artistic productions. Within the creative arts, recorded music offers a particularly complex and interesting case within which to explore this issue, as different portions of the relevant copyright to the recorded song may be held by different persons.
Richard Singer is the leading expert in Golf Facility Operations, Transactions and Valuation Consulting. He has been qualified as an expert witness in cases involving golf course transactions, valuations, liability, economic potential, usual and customary practices and business plan preparation.
Mr. Singer has been the Director of Consulting Services for the National Golf Foundation (NGF) since 1997, and now has a total of 26 years of golf facility consulting experience. He first joined the NGF consulting staff in 1989 as a project analyst after completing his Finance MBA at the University of Florida. Mr. Singer has successfully managed the NGF’s well-known golf consulting practice with an industry-respected track record of success and a reputation for delivering projects on time and on budget.
Mr. Singer’s consulting services for alternative golf facilities have included both new development and operational reviews for driving ranges, putting courses, miniature golf courses, golf learning centers, executive / par-3 courses, and various combinations with other facilities. He co-authored the NGF publication How to Plan, Build and Operate a Successful Golf Range.
Key Coleman, CPA, CFA, CPCU, ARe is Executive Director and Founder of Litigation Economic & Forensic Consulting Group LLC. While his firm is located in Greater Philadelphia, his practice is nationwide. Mr. Coleman focuses his consulting practice on damages analysis in the context of commercial disputes, contract audits and investigations. Mr. Coleman has a specialty in the Insurance and Reinsurance Industry, having worked in or around the industry for over 30 years. Prior to starting his own firm, he spent the bulk of his career in Chicago where he was a partner at a Big Four accounting firm and subsequently held high level positions at other nationally recognized accounting and consulting firms. Prior to his consulting career, he spent more than eight years in the insurance and reinsurance industry. His major investigative work includes having spent 4 years on the then-largest insurance investigation in history. He is one of the few experts nationwide who holds both the CPA and the CPCU designations; he has significant depth in reinsurance, as well, enabling him to gain the 'big picture' when dealing with insurance and reinsurance issues. He performs inspections of MGAs, TPAs, ceding companies, and insureds. An abbreviated list of his investigative and insurance specialties include:
Accounting, Forenisic Accounting and Investigations
Keystone Hospitality Solutions(KHS) provides full service Restaurant Consulting, from concept development through launch. For the past 32 years, KHS has worked with an extensive network of industry professionals that they bring to each project. Their goal with every project is to fully commit their expertise to support the vision and success of their clients.
Business Plans: Create and Review
Branding and Marketing: Comprehensive plan and strategies
Menu Development: Recipes, costing and presentation
Site Selection: Location research and lease negotiations
Staff Training: Staff hiring, training, handbooks and scheduling
Facility Design: Work with architect, kitchen designer and contractor
Financial Setup: Capital budget, income/profit projections
Investment Strategies: Investment offerings
Technology: Latest technology for operations and profitability
Executive Coaching: One on one leadership coaching
Resources and Networking
Expert Witness Services
Alan Someck’s 42 years of experience in the Hospitality Industry as an owner, operator, consultant, and teacher has given him the in depth practical knowledge to provide highly professional and thorough expert witness reports, depositions and testimony. For the past 14 years, he has been a full time Management Instructor at the Institute of Culinary Education in New York City as well as serving as an Adjunct Professor of Hospitality Management at the New York Institute of Technology.
Mr. Someck has had 25 years of experience as a full time operator in fine dining and fast casual restaurants. Through his active consulting firm, Keystone Hospitality Solutions, he has helped develop a wide variety of restaurant concepts ranging from cafes to full service restaurants, and worked as a food service operations analyst for organizations such as the U.S. State Department, U.S. Patent Office, and the F.A.A.
Mr. Someck has organized and presented at workshops, conferences, and training programs for the New York State Restaurant Association, and has been a national keynote speaker and author of hospitality related business articles on hospitality management strategies, food service operations, and franchising. He has been featured in a variety of industry media publications such as Forbes.com and Full Service Restaurant Magazine. Mr. Someck is also a Nationally Certified Trainer in ServSafe Food Safety and ServSafe Alcohol.
There has been a flood of allegations and admissions to sexual harassment in the restaurant industry. It’s been clear to many that incidents of this nature have been occurring for a very long time in a wide variety of ways. A spark was needed to bring the issue into the spotlight and the calling out of high profile industry leaders became that catalyst.
For owners to successfully manage this difficult environment, they must operate at a very high and professional level and become proactive in addressing the threats to their business. In terms of preventing and managing accidents, this means developing and implementing a system of safeguards that minimize exposure
Keegan Linscott & Associates, PC is a full-service Accounting Firm with more than 27 years of experience providing the highest quality of service to clients through a multi-dimensional team of dedicated and trusted professionals.
Leaders in their industry of practice, the professionals at KLA are Certified Public Accountants, Certified Fraud Examiners, Forensic Accountants, and Certified Insolvency, and Restructuring Advisors. They are committed to providing their clients and community with exceptional service, specializing in such matters as complex commercial litigation, FAR audits, all taxation matters, bankruptcy, reorganization, insolvency issues, and fraud detection, investigation, and prevention.
Audit Services - Audits, Reviews, Compilations, Federal Acquisition Regulations
Business Services - Quickbooks, Small Business, Payroll, Part-Time CFO, Cash Flow, Bank Financing, Strategic Business planning, Business Valuation, Succession in Planning, New Business Planning, Non-Profits, Internal Controls
Christopher G. Linscott, CPA, CFE, CIRA, is a Director of Keegan Linscott & Associates and is the Director of Litigation, Forensic Accounting, and Bankruptcy Support Services. He also manages corporate financial audits and tax clients. Mr. Linscott was previously employed with the international CPA firms of Coopers & Lybrand (now PricewaterhouseCoopers), and Peat Marwick (now KPMG). He has more than 25 years of experience in public accounting.
Mr. Linscott specializes in the areas of Litigation Support, Bankruptcy Reorganization, Fraud Investigations and Prevention, and Business Consulting. He has served clients in industries including construction, health care, home builders and developers, law firms, manufacturing and distribution, non-profit, professional services, real estate, restaurant franchises, retail service, and wholesale.
Mr. Linscott is a Member of the Arizona Society of CPA's, American Institute of Certified Public Accountants, National Association of Certified Fraud Examiners, Association of Insolvency and Restructuring Advisors, and a Director of the Board of Directors at Bashas’.
Tony Wayne, CPA, CFF, CVA, CIRA, is a Certified Public Accountant with over 25 years of private industry senior operations experience. After a diverse career spanning 15 years in Big 8 public accounting/consulting and private industry, Mr. Wayne founded IronHorse in 1998 with an emphasis on complex turnarounds and restructuring consulting, crisis management, advisory services, CFO services, and litigation support.
Background - Mr. Wayne's career began with Arthur Andersen & Co. Most of his private sector career was spent in c-level positions with divisions and subsidiaries of large multi-national industrial firms, as Chief Operating Officer as well as Chief Financial Officer. In the late 1980’s, he participated in the $175 million leveraged recapitalization of Axia, Inc. (formerly Bliss and Laughlin Steel) and served as Controller/CFO of Axia’s largest division, Goldblatt Tool Co. Late 1991. Mr. Wayne then joined Weld Racing, Inc. as Chief Operating Officer for a number of years before founding Ironhorse LLC.
IronHorse LLC is a special situation Business Advisory firm and intermediary serving middle and small market business owners, commercial lenders, private equity firms, and the restructuring, corporate, transactional, and litigation legal communities. Their team has extensive experience within Fortune 1000 as well as Big Four consulting firms and are leaders within the various professional associations they serve and sponsor. With a primary geographical footprint across a six-state region including Nebraska, Iowa, Kansas, Missouri, Oklahoma and Arkansas, IronHorse is one of a handful of firms and one of the oldest in the region. As such, IronHorse is an ideal solutions resource for the closely held, family owned middle, or small-market industrial firm in transition. Visit their website at www.ihorsellc.com. Ironhorse offers the following consulting services:
Turnaround Consulting and Complex Restructuring - Accelerate critical decisions and aggressively take action, work with key people to make tough calls, act decisively, and bring a dynamic contribution to the turnaround
Forensic and Valuation Services - Collect, analyze, and interpret financial, valuation, and accounting data and information; combine technical and accounting expertise to accelerate and deliver solutions in highly complex situations
Litigation Support - Advise boards of directors, senior management and corporate counsel in all litigation matters that can impact business practices, profitability, and continued viability
CFO Services - Provide an outstanding cadre of financial professionals with experience running the operations through the most difficult of transitions
Due Diligence - Unique approach to organizational, operational, and executive process due diligence aids in decision-making, negotiations, and deal structure deliberations for both healthy and distressed investing scenarios
Mr. Wayne is a member of the American Bankruptcy Institute, including the Business Reorganization Committee and Fraud Task Force. In addition, he is a member of the American Institute of CPA’s, the Association of Insolvency & Restructuring Advisors, the National Association of Valuation Analysts, the Turnaround Management Association, the Association for Corporate Growth, and the Forensic CPA Society.
When rendering an expert opinion on fair market value (“FMV”) of an enterprise, the underlying assumption is of a hypothetical transaction, involving a willing seller and buyer, each under no compulsion to enter into a transaction. Fair value (“FV”) on the other hand introduces the notion of likely transactions, likely transaction participants.
Thirty years ago, in the midst of an early-season slump, George Brett told reporters, "The first thing I look for in the Sunday papers is who is below the Mendoza line." Brett, who went on to hit .390 that year for the Kansas City Royals, was referring to Mario Mendoza, a light-hitting shortstop for the Seattle Mariners whose surname became synonymous with hitting futility.
Two years ago, you finally closed the big merger deal you spent what seems like years working on. Perhaps, your business is tied to commercial real estate development, construction, or building materials. Just when you were ready to start that big ramp up, the bottom fell out.
Executive Summary: Imagine the extraordinarily unusual challenge of valuing a going-concern start-up enterprise yet to make their first sale which was completely destroyed by a casualty loss and never-reopened. Further complicated by the inherent ambiguity, risk and complexity of the embryonic development stage industry in which they were attempting to operate and succeed.
In certain situations, the sale of an operating entity as a going concern in a receivership proceeding is a viable alternative to seeking relief under the Bankruptcy Code. Receivership going-concern sales may be especially appropriate in complex situations where enterprise value is declining, but the company is not hopelessly insolvent. This article briefly highlights those conditions, factors, situations and circumstances that may contribute to or impede a successful going-concern transaction within a court-supervised commercial receivership.
HP Accounting Services, Inc. is a leading provider of interim and outsourced Financial Management for tech and other companies. A CPA and business valuation firm, they support their clients’ compliance with the IRC 409A and SFAS 123(R) rules, intangible asset valuation, as well as issues involving damage calculations, expert witness services in litigation.
Accounting - Bookkeeping (Monthly/Quarterly/Annual), Accounting system setup for new businesses, Personal financial statements, Business Plan Development & Loan Brokerage, Audit Preparation & Liaison, Budgeting
Business Valuation - Purchase Price Allocations — FAS 141R
Mergers & Acquisitions
Business Fraud Prevention
Robert Bates, JD, CPA, CFE, CVA, CFO has over 30 years of Financial Management and Accounting experience as a Controller and CFO in various industries. He has been in several industries, including telecom, media, retail and financial services in addition to having consulting experience at startups in the software, technology, and life sciences fields. Mr. Bates specializes in International Accounting, Software Issues, and Obtaining Financing. AS CFO of public companies, he has completed due diligence accounting/reporting for 12 acquisitions, including performing Business Valuations and dealing with FAS 142 issues. Mr. Bates has handled accounting for complex debt instruments including warrants, beneficial conversion feature, and other derivative issues. He has also been responsible for SEC reporting: 10Q’s and 10K’s.
Economic downturns and recessions are notorious for encouraging fraud. As new and prospective fraud examiners, it's imperative that you become aware of the various fraud risks that can occur and the red flags that indicate a fraud in progress.