Fill and Sign the Mn Preliminary Form

PRELIMINARY INFORMATION QUESTIONNAIRE FOR EXPERT BIOGRAPHICAL What is your name? State your business or occupation. What is your work address? Do you have a private practice? If so, how long have you been in private practice? How long have you been an active practitioner in your field? Explain in layman's terms what your job or occupation involves. TRAINING What training have you had in your occupation or in your field of specialty? What undergraduate college or university did you attend? Did you attend graduate school? Where did you attend graduate school? What academic degrees do you hold? Did you write a thesis? If so, what was the topic? Was it published? CERTIFICATION / LICENSURE Are you certified by any organization in your field? When were you certified? What are the qualifications necessary for certification? Do you hold a license from any organization? What are the qualifications for licensure? - 1 - Were you required to pass an examination? Are you a member of the American Society of Appraisers, Business Valuation Section? If so, since when? Are you a member in good standing? AFFILIATIONS Are you a member of any professional societies or associations? What are the requirements to become a member in those organizations? Are you affiliated with any institutions, either educational or professional? If so, what title do you hold with those institutions? Do you now or have you ever held any positions at academic institutions? What are/were those positions? Have you ever sat on a committee or board evaluating applicants for membership in business valuation societies? Please describe your duties and functions. PUBLICATIONS/LECTURES Have you published any works in your field? Please list the titles of any articles or books you have written. Who published those works? Have you lectured in the field of business valuation? If so, when and for whom? TRIAL EXPERIENCE Have you had any prior experience as a witness in a trial? Arbitration? Mediation? How many times have you testified at a trial? How many were divorce cases? Stock holder suits? Estate/gift tax disputes with the IRS? Other types of cases? Have you testified for attorneys for both husbands and wives? Business owners and spouses of business owners? - 2 - Have you been qualified as an expert witness in this field before? If so, by what judges in what jurisdictions? How often? Have you ever been court-appointed as an expert witness? Under what circumstances? How often? Have judges accepted your valuations before? Describe cases in which the court adopted your valuation. VALUATION EXPERIENCE How many businesses have you appraised? What types of businesses and what size businesses? How many businesses have you appraised that are similar to or in the same industry as the business in this case? How many years have you been engaged in business valuation work? For whom? Lawyers? Banks? The IRS? Others? In what states have you done valuations? In foreign countries? LACK OF BIAS Describe how you are being compensated for your work on this case? Is your payment contingent upon the outcome of this case in any way? Are you related to or acquainted socially or professionally with anyone involved in this case? Do you have any contractual or financial relationship with anyone involved in this case other than payment for services rendered? How are you being compensated for your presence here today? How many appraisals have you done for this attorney? Have you done appraisal work "against" this attorney for the other side of a case? How often? SOURCES OF INFORMATION Describe what information and documentation you obtained about this business. Have you examined the financial records of the business? If so, what records? Are the statements audited? If so, by whom? What other documents or materials have you relied upon in your valuation of the business? - 3 - Did you analyze the data? How and when? Did you consider financial ratios such as gross profit margins, price earnings ratios, and so on? If so, why? Have you visited the business? The corporate offices or manufacturing plants or both? How long did you spend at the site of the business? Did you see the business operations? Describe the operations. Did you speak with any of the officers, directors, or other personnel involved in running the business? If so, describe what you found out. What industry data did you research? How did this research factor into your appraisal? Did you compare this business with others in the same industry? What data did you rely on? Who are the competitors in the industry? What are the future prospects of the business? Plans for expansion and growth or downsizing and cutting back? Are there unions involved? What is the status of management-union relations? When is the collective bargaining contract due to expire? Are there any governmental regulatory problems of any kind? Tax problems? Environmental problems? Has there been any publicity about the business (or the industry or the product) recently? Positive or negative publicity? How does this affect the valuation? Have there been any extraordinary events relating to the business? Fire? Theft? Sale of a subsidiary or a product line? Recent acquisitions or mergers? How does this affect the valuation? How many classes of stock are there? Common and preferred? Class A and B? How many shares does the husband/wife own? How many shares are being appraised and as of what valuation date(s)? SPECIFIC APPRAISAL QUESTIONS What valuation methodologies did you use? Explain each methodology including the actual calculations. Refer to the summary chart. Why did you pick these particular methodologies? What methodologies did you reject? What financial statements did you use and why? What adjustments to the financial statements did you make? Why? Source of the adjustments? - 4 - Review the rationale for each adjustment and the amount of the adjustment. As a result of these adjustments, what did you find to be the adjusted cash flow or adjusted book value of the business for the purposes of arriving at your opinion of value? Did you take any discounts for lack of marketability, minority interest, or control premium? Did you consider any actual sales or other transactions in the company's stock? If so, please describe the details of the transaction. Were the transactions at arm's length? What was the date of the transaction? What was the price? How did you adjust for the difference between the date of the transaction and the valuation date in the divorce case? Did you consider any other valuations of the stock done previously in other contexts? Gift/estate tax valuations? Valuations done for insurance purposes or for buy/sell agreements? What weight did you give these valuations, if any? Did you consider the price of the stock of comparable public companies in the same industry? If so, what companies did you consider and why did you select these companies as your comparables? Were you able to determine the market price for these comparable companies as of the valuation date? If not, how did you adjust for any time difference? Did you have to make any adjustments due to any differences between the subject company and other comparable companies? Is there a restrictive stock agreement? If so, what weight did you give it? What was the date of the agreement? Has it been updated? How was the stock price determined? Have there been any transactions pursuant to the agreement and, if so, when and under what circumstances? Are there any other special considerations that you reviewed in arriving at your opinion of value? What is your opinion of the value of the stock of the business? What is the valuation date? - 5 -