Denis Podshivalenko Email & Phone Number

Usa

Main clients: Advent Technologies, GreenPro Capital, Super Micro, Genius Brands International, 3 PL Central, Emmaus Life Sciences, Beach House Group.• Assistance with valuation of beneficial conversion feature (ASC 470), detachable warrants (ASC 815-40), stock options (ASC 718), assessing the impact of down-round protection clauses;• Assistance with determination of expected volatility using historical and forward-looking information;• Assistance with determination of Cost of Debt and WACC;• Valuation of embedded derivatives including debtor and creditor conversion options, debtor’s call, creditor’s put option using the following valuation models/methods: - Standard and modified Black-Sholes-Merton - Binomial tree, lattice model - With-and-Without method - DCF• Assistance with drafting fair value disclosures including valuation assumptions (ASC 820);

Los Angeles California, United States, Moscow Russia

• Assistance with business valuation and purchase price allocation (ASC 805, IFRS 3) including valuation of trade names, customer relations, non-compete agreements, contingent earn-outs, using the following valuation methods: - Relief from royalty method; - Multiperiod Excess Earnings Method (MPEEM) - DCF including probability weighted cash flows, attrition factors by revenue streams; - With-and-without method including probability of competition;• Assistance with the application of CAPM model;• Assistance with impairment of tangible long-lived assts (ASC 360), indefinite-life intangibles under U.S. GAAP (ASC 350) and IFRS (IFRS 3, IFRS 13);• Calculations of expected volatility using historical company specific trading data and public peer group info;• Use of option pricing model on a risk neutral basis, discounting at risk-free rate;• Assisting with preparation of feasibility studies, fairness opinions, tender offerings,• Analysis of EBITDA, Free Cash Flow, Earnings to substantiate Enterprise Value (EV) and Transaction Price (TP);• Use of net replacement cost, market and cash flows methods to support valuation of oil and gas assets;• Use of guideline public company and precedent similar transactions as part of market approach;• Participation in due diligence projects: Wrigley acquisition of A. Korkunov, Mars acquisition of Royal Canin;• Valuation of “personal” assets including securities traded over the counter and at MOEX;• Assistance with building cash flow forecasts, application of discounting conventions including midpoint assumption;• Representative in Russian National Council of valuation specialists;