Intangible Audit Identifies Under-Valued Asset
Released $50M in cash to shareholders
The Situation
- Client preparing for micro cap $50M IPO
- EverEdge asked to audit intangibles
- EverEdge identified an under-valued intangible asset, which had been purchased at $1M but depreciated to $0.5M under GAAP
The Client
Board of Directors - $50M+ Internet Company
Outcome
- EverEdge analysed the market and identified 3 similar assets, which had each sold for $50m
- EverEdge advised on sale and license back of asset
Result
Released $50M in cash to shareholders