ࡱ > [ p bjbj 1 ΐ ΐ 0 0 0 D D D D X D P d d d d z ` ! 0 A @ d z 4 8 d 0 z z MN D 0 P 0 $ P : Executive Summary John W. Hayes is Managing Director of Anchor Planning & Valuations, Ltd. a firm specializing in the valuation of closely held securities, intellectual property and other intangible assets. His firm also provides related financial advisory and litigation support services. Active in the valuation profession for more than 20 years, Mr. Hayes is a frequent speaker and writer on valuation topics. Mr. Hayes has been an instructor for the American Institute of Certified Public Accountants and the Illinois CPA Societys valuation seminars and courses. Mr. Hayes is a licensed Certified Public Accountant, a former member of the Business Valuation Subcommittee of the American Institute of Certified Public Accountants and a Senior Member of the American Society of Appraisers (ASA). In addition, Mr. Hayes has been awarded the Accredited in Business Valuation (ABV) designation by the American Institute of Certified Public Accountants. Finally, he has been certified by the National Association of Certified Valuation Analysts (CVA) and the American Board of Forensic Accounting (CrFA). He holds his undergraduate degree in finance from DePaul University and his MBA from the University of Notre Dame. Mr. Hayes has directed and prepared appraisals for the purposes of financial accounting, tax reporting, financing, strategic decision making and litigation support. The context of this work has included mergers and acquisitions, purchase price allocations, bankruptcy, estate and gift tax planning, family limited partnerships, incentive stock options, conversion to a Subchapter S Corporation, employee stock ownership plans, buy sell agreements, divorce, damage calculations, lost profits analysis, shareholder disputes and other types of litigation support. He has been qualified as an expert witness in several state courts. Other services provided by Mr. Hayes in addition to valuations include corporate finance, fairness opinions, solvency opinions, purchase price allocations, goodwill impairment studies, SFAS 141 and SFAS 142 and SFAS 157 work, due diligence, and feasibility studies. He also prepares studies on licensing fees and royalty rates for technology, entertainment, consumer products and other types of intellectual property. Finally, he has prepared valuations of patents, proprietary technology, computer software, trademarks, copyrights, customer lists, favorable lease contracts, non-compete agreements and other types of intangible assets. Mr. Hayes has valued a wide range of businesses, including medical, dental, legal, accounting and other professional practices, hospitals and nursing homes, medical and dental laboratories, auto and truck dealerships, insurance companies and agencies, banks and other financial institutions, internet and other technology companies, manufacturing, merchandising, and service businesses. 1010 Jorie Blvd. S u i t e 3 8 0 O a k B r o o k , I l l i n o i s 6 0 5 2 3 T e l e p h o n e : ( 6 3 0 ) 5 7 3 - 7 6 5 4 F a x : ( 6 3 0 ) 5 7 3 - 9 9 3 0 T o l l F r e e : ( 8 0 0 ) 8 9 8 - 3 0 4 8 E - M a i l : H Y P E R L I N K " m a i l t o : a n c h o r j w h @ c s . c o m " a n c h o r j w h @ c s . c o m H I K X w { } ~ 7 X Y Z ɿɿɆ|nɓfɓbZZZZ hMK OJ QJ hMK j hMK Uh/) B*OJ QJ ^J ph hLrY OJ QJ ^J h/) h/) OJ QJ ^J hMK CJ OJ QJ hMK @CJ OJ QJ hMK CJ OJ QJ hMK @CJ OJ QJ hMK @OJ QJ hMK OJ QJ hMK 5OJ QJ hMK OJ QJ "j hMK 5CJ$ EHOJ QJ U hMK 5CJ$ OJ QJ ! J K } ~ P h j l n p $a$ $a$ ! $ a$ @ B D d f j p hMK OJ QJ j hMK UhMK 0J OJ QJ !j hMK 0J OJ QJ UhMK j hMK 0J OJ QJ U / 1h;0/ =!"#$% D d |!, Pkk 0 # A b ~ gGvYC4dؗQ Z D nR gGvYC4dؗQPNG IHDR D ^ sRGB pHYs + IDATx^Gn}扥f- HH虐"4h1RHR2Ki$43Z(tGwOsl+ U@ޛާ~s^C{c^'spps3ѵq|::zAuwvntvvB.9î.]Շ>nDwoΞ426q86>r/_}U311_.^vuƮCSak`˳?yK9_N4_?y4OɃwh۟y.wwoי6[W7+վ|;=WO;hus>Ђ1_Q6 yog=. ;{[^P3v- p`cxCtTxمmc3kB&e%ez 2.8W˶+&[^û$ב9ٕ\~[Gx4tj/N1> jy^/fǦ+ӂG?dǀ±_!L]c{~iVX7S{hɍ4gqbdpא` 9;~ulu Ѳ4no35&!ԩh { t l h{&KYbM(>~/9 < $( ߯`Et=y{a(ǎ{?$YA; MEA_}udJ8dSذz%~|/Yv+-᪾O9v}KP:kZ#Q`&|!23ڴy ئ;KcĥW>1cG 1!'XX/S6InhD;Y`)ދsC{"^ؚ2٤l|!ݽۤDAdB
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