Schedule of Exhibits from Sample Valuation Report

Alan Olsen Valuation Services Valuation Process Valuation Experience Sample Report Glossary of Terms

1. Valuation Summary
2. Historical Balance Sheet - Per Books
3. Book to Restate Reconciliation - Balance Sheet
4. Historical Balance Sheet - Restated
5. Historical Income Statements - Per Books
6. Book to Restate Reconciliation - Income Statement
7. Historical Income Statements - Restated
8. Historical Net Cash Flow Statements
9. Historical Equity Statement
10. Projection Worksheet - Net Income and Cash Flow
11. Capital Spending and Depreciation Forecast
12. Working Capital Forecast
13. Debt Analysis / Borrowing Capacity
14. Management's Projections
15. Management Projections Margin Analysis
16. Graph of Historical and Projected Net Income & Cash Flow
17. Graph of Historical and Projected Income Statements
18. Income Approaches (Equity)
19. (1) Income Approaches (Invested Capital) [first iteration]
    (2) Income Approaches (Invested Capital) [second iteration]
20. Income Approaches (Net Income)
21. Asset and Income Approaches
22. Market Approach (Guideline Company Method)
23. Market Approach (Comparable Transaction Method)
24. Other Approaches
25. Discount and Capitalization Rates
26. (1) Weighted Average Cost of Capital (WACC) [first iteration]
    (2) Weighted Average Cost of Capital (WACC) [second iteration]
27. Percentage Ratios and Industry Comparison
28. Financial Ratios and Industry Comparison
29. Liquidity, Turnover and Risk Ratio Analysis
30. Common Stock Shareholder Statement
31. Preferred Stock Shareholder Statement
32. Price Per Share Calculation Worksheet