Subscribe(Text for those without flash or javascript) Fulcrum's professionals are experienced CPAs, MBAs, ASAs, CFAs, affiliated professors and industry specialists Our expertise encompasses damages analysis, lost profit studies, business and intangible asset valuations, appraisals, fraud investigations, statistics, forensic economic analysis, royalty audits, strategic and market assessments, computer forensics, electronic discovery and analysis of computer data.
Firm Overview Business Appraisal
Fulcrum's valuation professionals have the highest credentials in the industry; enabling us to deliver expert financial and asset appraisals. Our appraisal experience covers practically every industry imaginable. Our appraisals are generally used in each of the following areas:
| Related Experience: | Intellectual Property Appraisals |
| Intellectual Property Litigation |
Buyouts, Mergers & Acquisitions
On numerous cases, provided advice and calculations to implement a buy-sell arrangement. In some cases, a clear buy-sell arrangement existed, but in the majority of cases, the signatories to the agreement had not contemplated the complexities involved. In some cases, provided testimony regarding (i) the meaning of specific words of art contained in the contractual language, and (ii) a methodology and calculations that would implement the stated intent.
Performed an investment analysis on a $100 million bond offering for a national investment bank to determine potential damages. Assisted in the credit analysis and company valuation process from the perspective of the institutional investor. Performed industry related research and created the valuation models. Provided deposition testimony.
Analyzed the results that would have occurred had a business acquisition occurred. Provided related testimony.
Provided financial advisory support to a seller of various entertainment assets including completed films, producer's rights, various rights associated with films, screenplays and theatrical productions. We analyzed each of the assets in question and reviewed their potential to generate future cash flow. Ultimately, our opinion of value determined the purchase price of the assets.
Provided valuation and financial advisory support for a corporate investor looking to convert its warrants into common stock of a technology company. The "iris recognition" technology's primary purpose was security. We analyzed the companies operations and its market opportunities and prepared a discounted cash flow model to determine a minority interest in this company. Based upon this knowledge, the client converted its warrants at the specified price and expanded its relationship to other collaborative opportunities.
Performed valuation support for an independent motion picture studio. Prepared analyses on its film library and current slate of films in connection with a going private transaction.
Prepared a business valuation of an entertainment production company for transaction purposes. The assets in this company included completed film/participation rights, television rights and the rights to various scripts.
Provided valuation and financial advisory support to a closely-held service company that was attempting to enter into a joint venture for strategic purposes. Analyzed multiple scenarios including (i) entering into the joint venture as is, (ii) not entering into the joint venture and continuing to operate as is and (iii) entering into a hybrid arrangement where the contracts did not enter into the joint venture but the personnel did. Determine the net present value and internal rate of return of each scenario and analyzed the impact upon the remaining organization due to certain bank covenants.
Provided valuation and financial advisory support for a consumer products manufacturer that was attempting to sell the corporation within a Chapter 11 proceeding. Provided a valuation and prepared a confidential information memorandum. Facilitated the sale of this organization to a strategic buyer.
Determined the value of a portfolio of patents related to the personal computer interface and file transfer for digital cameras in connection with the purchase of this technology.
Valued ESOP shares for a sub-prime auto financing company.
On several occasions, valued a covenant not to compete and/or consulting agreement obtained through an acquisition. In each case, we addressed claims that the amounts received by the management of the acquired companies was receiving too high a value for these contracts, and that the amounts should be reallocated to the rest of the shareholder group.
On numerous occasions, performed valuations for the purpose of allocating the purchase price of a business to the business’s underlying assets. These assignments typically involve determining the value of intellectual property.
Determined the fair market value of an investment in restaurant located in a Las Vegas casino. The appraisal was required for financial reporting purposes.
Performed an assessment of the carrying value of intangible asses under SFAS 142.
To support the amount of a theft loss deduction, determined the fair market value of a public media, entertainment and technology company after removing the impact of fraud perpetuated by its CEO.
Appraised the intellectual property of a large joint venture between two publicly traded electronics companies in connection with taxation in the United States and Japan. The intellectual property consisted of numerous U.S. and foreign patents, patent applications, and associated technology. We also assessed the markets for each technology and forecasted expected results.
Provided valuation services to the owners of a closely held business for gift tax purposes. The owners of this business were gifting shares to their heirs and were attempting to minimize the tax consequences. This business manufactures works of art for high net worth individuals and loans various pieces to internationally renowned museums.
Analyzed the reasonableness of compensation of an owner-operator of a C-Corporation from the perspective of the shareholder. Provided related testimony. At the time, this case created new case authority.
Appraised the Voice over Internet Protocol (VOIP) technologies of a large publicly traded telecommunications company for tax purposes. Valued the intellectual property (i.e. patents, trademarks, and company specific knowledge) associated with the technology. Assisted management in assessing the potential market for the technology and its uses.
Appraised the capital stock of a newspaper chain for estate tax purposes. Our executives were subsequently asked to testify in U.S. Tax Court.
Prepared a value of a rail car fleet for tax purposes. Subsequently, Fulcrum executives were asked to testify in state tax court.
Our forensic accounting and record construction capabilities are useful in learning what went wrong. Our appraisal skills are useful in assisting companies reorganize and recapitalize.
Performed solvency analyses involving a failed leverage buyout (LBO), recapitalization, or other transaction that was claimed to have caused the insolvency. Determined the causes and timing of the failure Companies addressed include:
Valued a portfolio of illiquid business interest held by a company that filed bankruptcy because of short-term cash flow insolvency.
Appraised and helped sell the assets of a large entertainment enterprise that was in bankruptcy.
Determined the fair market value of a law firm assets for several historical dates for the purpose of determining at what point the firm became insolvent.
Assessed the feasibility of a bankrupt enterprises business plan and the impact of this on its proposed plan of reorganization.
Determined the value of the intangible assets for a medical device company that was purchased out of bankruptcy.
Coordinated the preparation of market value appraisals for four casino properties located nationwide as part of a bankruptcy reorganization and subsequent sale of three properties to a single buyer.
- Developer of computer graphics chips
Diversified entertainment enterprise
Wholesale distributor
Casino