WHAT CATAPULT DOES
Catapult has worked with selected closely held businesses & professional service providers internationally since 2011. The firm has built on intellectual property and product development roots to offer a range of financial services. Does your company have a 409a requirement? Is your company looking to raise money? Does your firm need a litigation consultant/expert? Looking for best practices in Operations Management, an external COO? Are you concerned about fraud? Catapult can help.
WHO CATAPULT SERVES
"Thanks for making me look good, Dustan!"
- Sarah McGarrell, attorney at Pierce Attwood, after referring Catapult for a valuation engagement.
"Per usual your product is professional and timely."
- Brian Casey, CEO E-Circuit Motors.
"Thank you very much for your work on the independent valuation. The Board found your report excellent."
- Oleg Shinkazh, CEO Chromatan.
SELECTED ENGAGEMENTS
PURPOSE: Transaction
VALUED: Market value and value to holder of patent license
STAGE: Pre-market
FUNDING: NYSE
INDUSTRY: Medical Device
FACTORS: (i) value-based pricing considerations, (ii) indication-based penetration rates, (iii) regulatory
METHODS: DCF using sensitivity analysis and Monte Carlo simulation
PURPOSE: Patent Advisory
ACTION: Drafting and filing of provisional patent application for emerging biotechnology company
STAGE: Pre-clinical
FUNDING: Seed
INDUSTRY: Biotechnology.
PURPOSE: Succession Planning
VALUED: Fair Value of proportional controlling share interest
STAGE: Stable Revenue
FUNDING: Self
INDUSTRY: Aerospace engineering, software
FACTORS: (i) purpose, (ii) interest being valued, (iii) case law
METHODS: Formula
PURPOSE: Intellectual Asset Management
ACTION: Intellectual asset audit prior to fundraising effort. Analysis of landscape and enforceability.
STAGE: 1st revenue
FUNDING: Professional
INDUSTRY: Software-enabled electric motor design & manufacture
PURPOSE: Operational Advisory
ACTION: Development, delivery, analysis and reporting of on-line and in-person surveys
STAGE: New project
FUNDING: Grant
INDUSTRY: Education
PURPOSE: Finance and Operations
ACTION: Refine and stabilize operational capabilities for a purveyor of authentic specialty food and lifestyle products
STAGE: Stable Revenue
FUNDING: Self
INDUSTRY: Consumer products
PURPOSE: Tax (409A)
VALUED: Interest in small business
STAGE: Pre-revenue
FUNDING: Professional
INDUSTRY: Electric Motors
FACTORS: (i) recent internal transaction, (ii) sparse financial data
METHODS: DCF, Asset Cost, OPM Backsolve
PURPOSE: Tax (409A)
VALUED: Interest in small business
STAGE: Pre-revenue
FUNDING: Professional
INDUSTRY: Biotechnology
FACTORS: (i) previous financing not available as indication of value, (ii) sparse operational and financial data
METHODS: Hybrid DCF, Asset Cost, and Market transaction
PURPOSE: Support growth
ACTION: Refine and stabilize operational capabilities for a cohort of 7 companies
STAGE: Stable Revenue
FUNDING: Mix
INDUSTRIES: Consumer products, Food Manufacturing, Health & Fitness, Engineering Consulting, Digital Marketing, Dental Practice, Electrical Contracting
PURPOSE: Transaction
VALUED: Minority Block in small business
STAGE: 1st sales revenues
FUNDING: Self
INDUSTRY: Medical Devices
FACTORS: (i) atypical business model in a Series A fundraising effort
METHODS: Income (DCF) and Market (Public Comp) reconciled value using both methods
PURPOSE: Tax (409A)
VALUED: Interest in emerging business
STAGE: Pre-revenue
FUNDING: Non-dillutive
INDUSTRY: Pharma Servicing
FACTORS: (i) previous financing more than one year prior to valuation date, and (ii) significant convertible debt
METHODS: Discounted Cash Flow, Black Scholes, Transaction
PURPOSE: Tax (409A)
VALUED: Interest in small business
STAGE: Pre-revenue
FUNDING: Professional
INDUSTRY: Med Device / Drug
FACTORS: Consideration of strong intangibles vs unknown market acceptance
METHODS: Income (DCF), Market (Transaction)
PURPOSE: Transaction
VALUED: Minority Block in small business
STAGE: Pre-revenue
FUNDING: Professional
INDUSTRY: Medical Devices
FACTORS: (i) need for stakeholder management in Series B fundraising effort
METHODS: Income, Asset, and Market - factors triangulated value using all methods
PURPOSE: Transaction
VALUED: Minority Block in small business
STAGE: Pre-revenue
FUNDING: Professional
INDUSTRY: Medical Devices
FACTORS: (i) need for stakeholder management in Series B fundraising effort
METHODS: Income, Asset, and Market - factors triangulated value using all methods
PURPOSE: Tax (409A)
VALUED: Interest in emerging business
STAGE: Pre-revenue
FUNDING: Professional
INDUSTRY: Life science R&D
FACTORS: (i) previous financing more than one year prior to valuation date, and (ii) significant convertible debt
METHODS: Expanded NPV & Black Scholes, Asset Cost
PURPOSE: Tax (409A)
VALUED: Interest in small business
STAGE: Pre-revenue
FUNDING: Professional
INDUSTRY: Electric Motors
FACTORS: (i) previous financing more than one year prior to valuation date, (ii) sparse financial data
METHODS: DCF, Asset Cost
PURPOSE: Tax (409A)
VALUED: Interest in emerging business
STAGE: Pre-revenue
FUNDING: Professional
INDUSTRY: Life science R&D
FACTORS: (i) previous financing more than one year prior to valuation date, and (ii) significant convertible debt
METHODS: Expanded NPV & Black Scholes, Asset Cost
PURPOSE: Tax (409A)
VALUED: Interest in small business
STAGE: Pre-revenue
FUNDING: Professional
INDUSTRY: Electric Motors
FACTORS: (i) previous financing more than one year prior to valuation date, (ii) sparse financial data
METHODS: DCF, Asset Cost
PURPOSE: Tax (1202)
VALUED: Small business & its intangible assets
STAGE: Growth
FUNDING: Professional, Sales
INDUSTRY: Pharmaceuticals
FACTORS: (i) engagement required identification valuation of significant unidentified intangible assets
METHODS: Control transaction, DCF, Formula Method
PURPOSE: Transaction
VALUED: Emerging business & its intangibles
STAGE: Pre-revenue
FUNDING: Pre-seed
INDUSTRY: Estate-planning
FACTORS: (i) identification, protection & valuation of significant unidentified intangible assets
METHODS: DCF, Formula Method
PURPOSE: Defensibility
ACTION: Drafting & filing a provisional patent application
STAGE: Pre-revenue
FUNDING: Pre-seed
INDUSTRY: Health-IT
FACTORS: (i) coordination with business planning & product development strategies
CONSIDERATIONS: 101, 103. Alice
PURPOSE: Defensibility
ACTION: Drafting & filing a provisional patent application
STAGE: Pre-revenue
FUNDING: Pre-seed
INDUSTRY: Biotech
FACTORS: (i) coordination with technology, regulatory & product development strategies
CONSIDERATIONS: Valuation and funding as project using real options approaches
What does a certification as a valuation analyst through the National Association of Certified Valuators and Analysts mean? Contact Catapult's Principal to learn how his qualification as a CVA can benefit you.
