[CINA] Mechanics of Venture-Stage and Start-Up Valuation February 27, 2006

Fee: $5.00 for CINA members and $15.00 for non-members. $5.00 extra charge for no RSVP.

RSVP: send email to [email protected] by 2/26/06 with subject "my name= "

About the Event:

This workshop will develop alternative methodologies necessary for the pricing and market valuation of venture stage companies to effectuate private placements, sales, and acquisitions. Since metrics and operating history have not developed for early stage companies, analysis and pricing based on pricing observed in mergers and acquisitions, the trading of shares in comparable public companies, and discounted cash flow analysis may have little meaning and provide unreliable pricing indications. Therefore, methodologies using data from venture investing by institutional investors, initial public offerings and acquisitions of similar technologies or operating companies applied to future company cash flows or liquidity events, modified by present valuing techniques can be the most accurate depiction of fair market value today.

We will draw upon the valuation work we perform today for venture capital portfolio companies as well as the pricing characteristics exercised by the largest Angel Investor Network in the U.S., Keiretsu Forum, combined with?. The discussion will include the presentation of venture stage pricing techniques in a Power Point Outline; overview of the observations and models developed through our published study of nearly 500 companies with VentureOne: ?The Pricing of Successful High Tech and Life Sciences Companies?, and valuation factors integral to informed angel investing from an article entitled ?A Better Technique for Disciplined Venture Investment Decisions?.

Speaker: Steve Kam, Managing Director, Cogent Valuations (See CINA site for speaker bio)