Davis/Chambers & Company, Ltd.    

Valuation Overview

Business appraisals produced by Davis/Chambers & Company, Ltd. (“D/C”) are prepared in accordance with the Uniform Standards of Professional Appraisal Practice and the Business Valuation Standards of the American Society of Appraisers.  In addition, the firm follows the guidelines and standards as defined by the Internal Revenue Service with regard to the appraisal of assets subject to estate and gift taxes, and the Department of Labor with regard to appraisals of ESOP owned stock.

Members of the firm are affiliated with the following:

American Society of Appraisers (ASA)

The CFA Institute

Houston Society of Financial Analysts (HSFA)

Houston Estate and Financial Forum (HEFF)

The ESOP Association

The American Institute of Certified Public Accountants (AICPA)

Texas Society of Certified Public Accountants

Davis/Chambers & Company, Ltd. valuation experts have appraised the following:

Sole Proprietorships

Common Stock (Voting, Nonvoting and Restricted shares, "C" and "S" Corporations)

Preferred Stock (Convertible and Non-convertible, Cumulative and Non-cumulative Dividend Structures)

Limited Liability Companies

Partnership Interests (General and Limited Partnership Interests)

Patents and other Intangible Property

FASB 141 Asset Allocation Valuation and Analysis

FASB 142 Goodwill and Intangible Asset Impairment Testing

FASB 144 Accounting for the Impairment or Disposal of Long-Lived Assets

Promissory Notes

Undivided Interests in Real Estate

Options and Warrants

Other Corporate and Personal Assets such as Machinery and Equipment, Royalty Interests, Real Estate, Mortgages, etc.

The business entities being appraised have had annual revenues ranging from less than $1 million to over $1 billion.  The clients have been in virtually every line of business including clients with a single retail location to major manufacturing, distribution, and/or service companies with offices or facilities located throughout the United States and overseas.

Each appraisal offers a competent and independent opinion as to the value of the assets or securities being appraised for one or more of the following purposes:

Acquisition / divestiture and/or merger negotiations

Estate planning

The establishment of value for estate and gift tax purposes

The establishment of value for various stock ownership plans such as ESOP, buy-sell, employee termination, and/or other internal stock transactions with corporate employees

Bankruptcy valuation and reorganization plan support

Litigation -- expert witness testimony and/or planning support

Purchase price allocation for FASB 141 compliance

Impairment testing for FASB 142 and 144 compliance

Litigation -- expert witness testimony and/or planning support

Challenges to the valuations offered by Davis/Chambers & Company, Ltd. have been extremely rare, and in cases that were heard by the courts, the valuations have been affirmed.  Tax decisions and settlement agreements also have been generally in favor of the client.  We are available to discuss specific valuation requirements with prospective clients or their attorneys or financial advisors without charge to determine how we may be of service.