Christy L. Chow, CPA/ABV Ms. Chow is a Director in Grant Thornton’s San Francisco office. She has over 15 years of experience leading and performing valuations for financial reporting, tax and management planning purposes. Her specialties include the valuation of business interests, intangible assets, and preferred and common stock of private entities and VC-backed start-ups. Ms. Chow has served public and private companies in the technology, consumer products, private equity and venture capital industries. Prior to joining Grant Thornton, Ms. Chow was a Director in Deloitte’s valuation practice, where she was the West Region Audit Support Leader and a member of the National Technical Committee. She also worked in the Valuation, Management Consulting and Audit Practices of KPMG LLP. Ms. Chow earned her BA in Economics/Business from UCLA, and she is a Certified Public Account, Accredited in Business Valuations.
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Christy L. Chow, CPA/ABV Ms. Chow is a Director in Grant Thornton’s San Francisco office. She has over 15 years of experience leading and performing valuations for financial reporting, tax and management planning purposes. Her specialties include the valuation of business interests, intangible assets, and preferred and common stock of private entities and VC-backed start-ups. Ms. Chow has served public and private companies in the technology, consumer products, private equity and venture capital industries.
Prior to joining Grant Thornton, Ms. Chow was a Director in Deloitte’s valuation practice, where she was the West Region Audit Support Leader and a member of the National Technical Committee. She also worked in the Valuation, Management Consulting and Audit Practices of KPMG LLP.
Ms. Chow earned her BA in Economics/Business from UCLA, and she is a Certified Public Account, Accredited in Business Valuations.
Valuation & Business Modeling – Ryan Citro
EY Transaction Advisory ServicesTel: +1 213-977-4215Mobile: +1 626-367-8342Email: [email protected]
Ryan M. CitroPrincipal
Professional background
► Ryan is a Principal in Ernst & Young’s Transaction Advisory Services(TAS) group. For the past 14 years, Ryan has specialized in thevaluation of businesses and their assets for transaction and strategicpurposes.
Selected experience
► Ryan focuses on valuations in the technology (software, internet,semiconductor, hardware, telecommunications) and life sciencesindustries.
► Ryan specializes in valuation considerations associated with theimplementation of ASC 606 including determining stand alone sellingprice, the period of benefit of deferred commissions, and adjustmentsto enterprise and equity valuations.
► Ryan's areas of valuation expertise include business enterprisevaluations, valuations of equity interests (common and preferredstock), minority and majority business interests, and privately heldinterests. His experience also includes the valuation of intangibleassets, including technology (developed and in-process), patents,customer contracts/relationships, trademarks/trade names,regulatory licenses, covenants not-to-compete, and backlog. Otherrelated areas of specialization include valuation of the deal elementsin patent infringement settlements and liabilities including indemnityagreements and deferred revenue.
Professional qualifications
► BS in Finance from the University of Southern California
► Accredited Senior Appraiser of the American Society of Appraisers.
Mr. Hudson is a member of Houlihan Lokey’s Tech+IP Advisory practice and has nearly two decades of experience providing intellectual property advisory services to clients and IP owners in the Americas, Europe, and the Asia-Pacific region.
Before joining Houlihan Lokey, Mr. Hudson was EVP & Chief IP Officer with a privately held technology company, where he was responsible for managing all aspects of IP management and strategy. In this role, he worked closely with others on the executive management team and board of directors and with outside counsel to protect innovation and drive overall corporate and shareholder value. Prior to this position, Mr. Hudson was a member and co-leader of Deloitte’s National Intellectual Property Advisory practice within Deloitte Advisory.
Mr. Hudson has performed a variety of engagements, including valuation and strategy issues related to innovation, technology, and IP, as well as buyside/sellside IP portfolio services. He has conducted royalty audits and related IP investigations; calculated reasonable royalties and lost profits in the context of IP disputes, licensee identification, and license negotiations support; implemented strategic and enforcement licensing programs, determining reasonable royalty rates and optimal licensing structures; valued and sold royalty streams; and evaluated intellectual asset and intellectual property management programs and technology transfers.
These engagements have been in the context of mergers and acquisitions, bankruptcy and restructuring, divesture, arbitration, mediation, litigation, securitizations, investigations, tax planning, joint venture formation, and spinouts. In addition, Mr. Hudson has performed these engagements across various industries and sectors, and for clients that include Fortune 500 companies, universities, private companies, governmental agencies, venture capital and private equity firms, and individual inventors.
Mr. Hudson holds a B.A. in Economics from the University of Florida and maintains an active secret-level security clearance from the U.S. Federal Government.
Austin J. Lee is a Managing Director with Deloitte Advisory and concentrates in valuation matters for financial reporting and regulatory compliance.
Mr. Lee most recently served as a Professional Accounting Fellow for valuation in the Chief Accountant’s office for the Division of Corporation Finance at the U.S. Securities and Exchange Commission (SEC). As a fellow, Mr. Lee participated on rule making committees responsible for shaping valuation policies under Dodd Frank, US GAAP, and IFRS. Additional responsibilities include providing interpretive guidance to SEC staff and registrants during appeals, examinations, enforcement actions, and pre-clearance requests.
Prior to Deloitte and the SEC, Mr. Lee worked at a boutique investment bank focused on cross-border M&A transactions and was an auditor at another Big Four accounting firm.
Mr. Lee earned a Masters of Accounting degree from the Ross School of Business and Bachelor of Arts degree in Economics from the University of Michigan at Ann Arbor. Mr. Lee holds an active CPA license in the State of California and an Accreditation in Business Valuation (ABV) credential issued by the American Institute of Certified Public Accountants (AICPA).
Biography
Confidential – All Rights Reserved – Ernst & Young LLP
► Biljana Marijanovic is part of VBM’s Complex Securities practice and has a decade of experience in assisting clients with the valuation of equity securities and derivatives, debt securities (including hybrid securities), contingent assets and liabilities and other complex contracts.
Professional experience and clients
► Equity derivatives: Warrants, employee stock options, convertible notes and convertible preferred. Embedded derivatives present in convertible bonds, convertible preferred or other hybrid instruments (examples include conversion and early redemption features, make whole provisions, change-in-control and other company specific contingencies of convertible debt). Preferred and common stock in privately-held companies with complex capital structures (including ratchet provisions).
► Debt instruments: Corporate debt, intercompany debt, mezzanine and early stage debt, as well as debt modifications taking into account current trends in a company’s cost of borrowing and performing synthetic credit rating analyses.
► Contingent considerations and other probabilistic instruments: Design of probability-weighted models to capture the full range of possible
outcomes and estimate values under uncertainty (including contingent considerations under ASC 805 and mark-to-market accounting). Customized financial and statistical models to meet a broad range of client needs, including price forecasting analyses based on the identification of explanatory variables that drive observed historical variation in prices.
► Interest rate, foreign exchange, and credit derivatives: Swaps, swaptions, and other exotic financial derivative instruments.
Education
► Biljana earned her M.S. at University College, London, UK in Mathematical Modeling. She holds dual B.S. degrees in Applied Mathematics and Electrical Engineering from Southern Methodist University, Dallas, TX. Biljana holds a Professional Risk Management (PRM) designation.
Biljana (Biki) Marijanovic Transaction Advisory Services – Valuation & Business ModelingComplex Securities Valuation Practice
Michael Massey, CFA, CPA/ABV, Partner, Valuation Services Group
Mike Massey is the Valuation Services Group leader in Northern California. Mike has more than 20 years of accounting and finance experience. He is specialized in the area of intangible asset valuation, including common stock, restricted stock, preferred stock, debt, stock options, intellectual property, and other intangible assets. Mike has significant experience in preparing valuations for financial
reporting purposes, including purchase price allocations, goodwill impairment tests, and valuations for the pricing of stock options. He also performs valuations for gift and estate planning, income tax reporting, and litigation support purposes. Mike holds a B.S. in Accountancy from California State University, Sacramento, where he graduated Magna Cum Laude. He has the Chartered Financial Analyst designation, and is a Certified Public Accountant, Accredited in Business Valuation.
Mr. McIntosh is a member of Houlihan Lokey’s Financial Advisory Services business. He is responsible for business development in the technology industry and for providing tax and financial reporting (TFR) valuation services. He is also a member of the firm’s TFR Technical Standards Committee.
Mr. McIntosh has nearly two decades of experience managing financial opinion and valuation engagements for public companies and venture-capital-sponsored and private-equity-sponsored private companies in several industries. His recent public company clients include Flextronics International Ltd., Infoblox Inc., CienaCorp., Integrated Device Technology, Inc., Silicon Image, Inc., Taleo Corp., CNET Networks, Oracle Corp., and First Data Corp. He has worked with many international companies, including ACCESS Co. Ltd., Sumitomo Corp., Hitachi High-Technologies Corp., Yamanouchi Pharmaceutical Co., Celartem Technology Inc., Shogakukan, Viz Communications, Huawei Technologies Co. Ltd., and AsiaInfo Holdings Inc.
Before joining Houlihan Lokey, Mr. McIntosh was a Senior Manager in Ernst & Young’s transaction advisory services practice in San Francisco, where he provided valuation advisory services to clients in the technology and financial services industries. Earlier, he was a Consultant at Russell Miller, a national insurance industry investment banking and financial advisory services firm.
Mr. McIntosh holds a B.S. in Civil Engineering and an MBA in Finance and International Business from the University of Pittsburgh. He is a candidate member of the American Society of Appraisers.
John McIntoshDirectorSan Francisco
Qualifications
B.S. University of Pittsburgh
MBA University of Pittsburgh
PAST Ernst & YoungRussell Miller
PwCConfidential Information for the sole benefit and use of PwC’s Client.Draft
Chad is a Principal within PwC’s Deals Practice where he performs valuations of businesses, business interests, various classes of capital structure, and intangible assets. He brings both deep technical expertise and broad strategic thinking to help his clients navigate the complexity of valuation for financial reporting, tax and business advisory purposes with an overall focus on value creation. Chad leads the Technology Sector for the US Valuation Practice, helping his clients manage, and adapt to, the frequency and speed with which technology transforms companies and industries. He covers companies throughout their lifecycle, from early stage ventures to mature profitable operations, and across a wide variety of transactions including M&A, IPOs, JVs, internal reorganizations and equity issuances.
Prior to joining the Silicon Valley office, Chad was responsible for the Midwest market supporting public and private equity clients across a number of sectors as they combined and converged with emerging technologies.
Chad has an M.B.A in Finance and Corporate Accounting from the Simon School of Business, University of Rochester, and a B.S. in Management from State University of New York at Geneseo. Chad earned the Chartered Financial Analyst® (CFA) designation granted by the CFA Institute.
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Valuation & Business Modeling Page 1
Profile Mr. Niemi is an Executive Director in Ernst & Young’s Valuation and Business Modeling practice in the San Francisco office. He is responsible for practice development, managing practice operations, and the execution of valuation engagements.
Experience Mr. Niemi has extensive experience in the valuation of business enterprises, equity and debt interests, and various intangible assets associated with businesses. Types of engagements include allocation of purchase price as part of a business combination, valuation of minority and control equity interests for tax planning purposes, corporate/strategic planning, and recapitalizations. Intangibles assets valued as part of business combinations include developed technology, in-process research and development, brands and trademarks, customer relationships/loyalty programs, and non-competition agreements. Mr. Niemi also has extensive experience estimating the fair value of liabilities including deferred revenue and unredeemed gift cards.
Albert primarily serves clients in the retail, technology, and asset management sectors.
Prior to joining Ernst & Young’s Valuation and Business Modeling practice, Mr. Niemi worked for Ernst & Young’s Restructuring practice in New York where he advised bank lending groups with outstanding exposure to distressed or bankrupt companies. Additionally, Mr. Niemi has worked for Wachovia where he specialized in asset based and commercial lending.
Education and memberships Albert holds a B.B.A. in Finance from the University of Georgia and an M.B.A. in Finance and Accounting from Cornell University.
Albert holds the Chartered Financial Analyst (CFA) designation from the CFA Institute and is a member of the CFA Society of San Francisco.
560 Mission Street Suite 1600 San Francisco, California 94105 Tel: +1 415 894 8236 Fax: +1 866 805 4207 Mobile: +1 678 778 5085 [email protected]
Valuation & Business Modeling Albert Niemi – Executive Director
Frank, Rimerman + Co. LLP
Palo Alto San Francisco San Jose St. Helena New York www.frankrimerman.com
JOSEPH M. ORLANDO, ASA [email protected] 707.967.5312 Joseph Orlando is a Director and heads the Business Valuation Practice at Frank, Rimerman + Co. LLP. He joined Frank, Rimerman + Co. in 2007 and brings a wide range of experience in fundamental valuation assignments for financial reporting and tax purposes. Mr. Orlando also has a broad background in corporate finance, M&A, investment banking, business development and corporate strategic planning. EXPERIENCE Prepared valuations for a variety of purposes including:
o Financial reporting under ASC350, 360, 718 and 805 o Gift and estate taxes o Tax compliance under Internal Revenue Code 409A o Family law and litigation support o Management planning o Mergers and acquisitions o Corporate finance (for private equity and public offerings)
Managing Director – SVB Analytics Associate Director, Valuation Services – Navigant Capital Advisors Senior Manager, Valuation and Financial Advisory Services
– Bearingpoint, Inc. VP & COO, Global Corporate Finance – Credit Suisse First Boston
PROFESSIONAL ORGANIZATIONS American Society of Appraisers PROFESSIONAL PRESENTATIONS “Business Valuation – Notes from the Field” Santa Clara University, Santa Clara, California, June 2009 “Business Valuation Services to the Wine Industry” UC Davis Offsite Course, St. Helena, California, 2009 - 2014
Frank, Rimerman + Co. LLP
Palo Alto San Francisco San Jose St. Helena New York www.frankrimerman.com
LICENSE Accredited Senior Appraiser – American Society of Appraisers Appraisal Review Management Designation for Business Valuation (ARM-BV)
Candidate – American Society of Appraisers EDUCATION MBA in Finance – Georgetown University BA in Economics – St. Lawrence University
Ms. Reinemann has been involved in the valuation industry for over 20 years. She is a practice leader and managing director, managing all aspects of regional valuation firms. Ms. Reinemann has earned the Chartered Financial Analyst designation from the CFA Institute and she is also an Accredited Senior Appraiser with the American Society of Appraisers. She has provided thousands of valuation opinions and she has been accepted as an expert witness in the U.S. Tax Court.
EMPLOYMENT Brittan Park Valuation Managing Director 2011 to Present Brittan Park Valuation is a boutique valuation firm focused on providing high-quality valuation opinions and advice to a select number of clients. The firm works closely with its clients to develop long-term relationships. Brittan Park Valuation has particular strength and experience in the areas of early-stage life-sciences and technology companies; pre-IPO valuation and consulting; estate planning and tax; as well as income tax matters. The firm also provides expert consulting services to other valuation firms that seek to augment their own experience and expertise in certain complex and critical engagements. Cogent Valuation Managing Director 1996 to 2011 The firm provides financial opinions, securities valuation, and corporate advisory services to corporations, institutions, agencies, fiduciaries, partnerships and individuals requiring expert opinion on pricing, structure, fairness, or solvency in connection with: mergers, acquisitions, divestitures, recapitalizations, equity allocation, LBOs, ESOPs, taxes, litigation, intangible assets and fraudulent transfers.
PUBLICATIONS • Co-Tenancy Interests - Current Thinking on the Valuation and Use in Estate Planning; Trusts &
Estates, October 2012 • Discount for Lack of Marketability in Preferred Financings; FairValueForum.org, October 2009 • Lack of Marketability; Trusts & Estates, February 2008 • The Valuation of Litigation, Valuation Strategies, March/April 2006 • Consider SLP Liquidation Activity; Trusts & Estates, March 2004 • Court Opinion v. Valuation Practice: A Discussion of Relevance and Application; California Tax
Lawyer; Fall 2003
ANNIKA M. REINEMANN, CFA, ASA
PROFESSIONAL SOCIETIES • American Society of Appraisers – Accredited Senior Appraiser • CFA Institute – Chartered Financial Analyst • CFA Society of San Francisco • Fair Value Forum – Founding Member, Executive Committee 2009 − present • OneLife Counseling Center – Board Member, 2016-present • San Francisco Area Women Tax Lawyers – Vice President of Membership 2002-2003 • Santa Clara County Estate Planning Council – Member 2007 − 2012 • Trust & Estates, the Journal of Wealth Management – Valuation Advisory Board 2008 − 2014 • Valuation Round Table –Member 2009 – 2010
PRESENTATIONS AND LECTURES • The Power of the PWERM, Business Valuation Resources Webinar, June 1, 2017 • 409A and Private Company Valuation Update, 2016 ASA Fair Value Conference, San Francisco,
November 2016 • Tranched Rounds – Do They Have Option Value, 2015 Fair Value Summit, San Francisco,
November 2015 • OPM v PWERM – Why the PWERM is Often the Better Choice, 2013 Fair Value Summit, San
Francisco, November 2013 • Impact of Secondary Market Transactions; 2011 Fair Value Summit, San Francisco, November
2011 • The Valuation of Carried Interests in VC and PE Funds; In-firm presentation, Simpson, Thacher
and Bartlett LLP, New York, November 2010 • The Valuation of Carried Interests in VC and PE Funds; Corporate Finance & Investment Banking
and Applied Security Analysis MBA Programs, Wisconsin School of Business, October 2010 • 409A Valuation - What you Need to Know; High-tech CFOs of Madison, Wisconsin; October 2010 • Common Stock Valuation under IRC Section 409A and FAS 123R (ASC 718); Masagung Graduate
School of Management at the University of San Francisco; March 2010 • 409A Findings - So Far; In-firm Presentation, Frank Rimerman + Co. LLP; February 2010 • Discounts for Lack of Marketability; Valuation Round Table, San Francisco, October 2009 • Volatility, Fair Value Forum, January 2008 • Fair Value Measures; Audio Presentation, Practice Management Institute, January 2008
EDUCATION M.B.A., Finance, University of San Francisco, 1996 B.S., Business Administration and Economics (Small Business Management), University of Karlstad, Sweden, 1995
www.hemming.com
H E M M I N GM O R S E, L L PCERTIFIED PUBLIC ACCOUNTANTS,
FORENSIC AND FINANCIAL CONSULTANTS
San Mateo Offi ce155 Bovet Road
Suite 600
San Mateo, CA 94402
Te l: 415.836.4000
Fax: 415.777.2062
Carl S. Saba, MBA, CVA
page 1 of 6
CURRICULUM VITAE
Executive Summary
Carl Saba is a Partner in the Forensic and Financial Consulting Service Group at Hemming Morse, LLP.
He is a recognized leader within the business valuation community, with over twenty years of experience
advising companies on complex valuation issues for litigation, mergers and acquisitions, tax, and fi nancial
reporting matters. His valuation expertise spans business valuation, valuation of intellectual property and other
intangible assets, and valuation of options and other derivatives.
Carl has led in excess of 500 valuation engagements over the last ten years across a broad range of industries
with niche expertise in the areas of Technology, Life Sciences, and Medical Device. He has assisted clients
as a valuation expert in high exposure situations in initial public offerings, acquisitions, corporate restructure
transactions, and bankruptcy reorganizations with transaction values exceeding $1 billion. He has also assisted
clients with resolving valuation disputes with the Internal Revenue Service (IRS), and addressing valuation inqui-
ries and reviews by the Public Companies Oversight Board (PCAOB), and Securities and Exchange Commission
(SEC).
On litigation matters, Carl has served as an expert and testifi ed on a wide range of complex business disputes
involving economic damages. These have included shareholder dissolution actions, business interruption,
unfair competition, patent infringement, alter ego, lost wages, and fraud claims. In most cases, he has been
successful in contributing to a favorable award for clients and out of court settlement of the dispute.
Carl also has signifi cant fi nancial advisory experience in mergers and acquisitions due diligence and turnaround
management. He has lead due diligence efforts that have assisted his clients in negotiating key deal terms,
negotiated with creditors to recapitalize companies, and helped management teams defi ne strategic direction.
Contributing to thought leadership within the valuation community is something Carl is passionate about. He
co-founded and currently Chairs the Executive Committee of the Fair Value Forum, a business valuation expert
group dedicated to defi ning best practices within the profession. He also served a term as President of the
Valuation Roundtable of San Francisco, and several years as a board member. Carl has authored several
articles on cutting edge valuation topics, and teaches and lectures on the topic frequently.
Carl has an MBA from the Marshall School of Business at the University of Southern California where he
graduated with Honors. He earned his Bachelor’s degree at U.C. Berkeley’s Haas School of Business.
He is a Certifi ed Valuation Analyst with the National Association of Certifi ed Valuators and Analysts.
Adam M. Smith Managing Director, PricewaterhouseCoopers 400 Campus Drive Florham Park, NJ 07932 Office: (973) 236-5038 Fax: (813) 393-3091 Cel: (310) 922-5803 Email: [email protected] Area of Focus Adam is a Managing Director with nearly 20 years of valuation experience. He has performed valuations of businesses, business interests, intangible assets, economic damages, derivatives, and lost profits. His experience includes preparing valuations for a wide range of purposes including financial reporting, litigation support, corporate planning and consulting, mergers and acquisitions, estate and gift tax reporting, and employee stock ownership plans. From 2013 to 2015, Adam served as a practice fellow at the Financial Accounting Standards Board (FASB) specializing in fair value issues. In that role, he worked on projects with the FASB, the Financial Accounting Foundation (FAF), the Emerging Issues Task Force (EITF), the Private Company Council (PCC), and the Governmental Accounting Standards Board (GASB) and performed extensive outreach with regulators, other standards setters, and accounting and valuation professional organizations. From 2015 to 2017, Adam was the Technical Director of Business Valuation Standards for the International Valuation Standards Council (IVSC) and worked with the IVSC Standards Board to develop an updated and improved version of the International Valuation Standards. In his position, Adam worked with other technical staff to write two new chapters and revise the existing chapters of the International Valuation Standards. Publication of the revised standards was completed in January 2017. Adam received his B.A. in Business and Economics with a Minor in Accounting from the University of California, Los Angeles. Professional Affiliations Accredited Senior Appraiser (ASA), American Society of Appraisers Member of the Royal Institute of Chartered Surveyors Appraisal Issues Task Force Member, Appraisal Foundation Contributing Developer and Instructor, American Society of Appraisers - BV 301, BV 302
Mr. Vogt is a member of Houlihan Lokey’s Financial Advisory Services business and has nearly 20 years of experience in advisory services. He has a particular emphasis in the valuation of public and closely held businesses, business interests, intangible assets, and intellectual property for transactional, tax, and financial reporting purposes. He has advised private equity firms and their investors, public and private companies, nonprofits, attorneys, and government agencies in valuation, investment, and other financial consulting matters. Mr. Vogt also has experience in the valuation of public and privately held equity securities in complex financial structures, debt, warrants with price protection features, embedded derivatives, and contingent liabilities.
Prior to joining Houlihan Lokey, Mr. Vogt was a Director in the Atlanta office of Grant Thornton LLP’s Transaction Advisory Services practice. Mr. Vogt performed valuations primarily for financial reporting purposes associated with asset allocations, goodwill impairment analyses, and valuations of equity securities issued as compensation. He has worked across many industries, including information technology services, software-as-a-service (SaaS), healthcare, manufacturing, consumer product retailers, and automotive retailers.
Additionally, Mr. Vogt has prior experience in forensic accounting and litigation support services in shareholder disputes, marital dissolutions, and civil and criminal investigations. He has provided expert witness testimony and provided his expert valuation opinion before the Department of Justice.
Mr. Vogt holds a B.B.A. in Finance from Kennesaw State University. He is currently a candidate member of the American Society of Appraisers.
Paul J. VogtVice PresidentAtlanta
Qualifications
B.B.A. Kennesaw State University
PAST Grant Thornton LLP
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George WilfertPublic Company Accounting Oversight BoardDeputy Director
George Wilfert, Deputy Director, serves as senior technical advisor in the Office of Economic & Risk Analysis (ERA), and is responsible for overseeing support to PCAOB staff on complex matters, as well as helping lead certain of the Board’s strategic initiatives. Mr. Wilfert collaborates with staff from the Securities and Exchange Commission and the Financial Accounting Standards Board on various PCAOB-related matters.
Mr. Wilfert has 24 years of large firm and regulatory experience. He joined the PCAOB in 2006 as an Inspections Leader working on the inspections of large firms. He became an Associate Director in the Division of Registration and Inspections in 2009 before moving to the Office of Research & Analysis, and became a Deputy Director in 2011.
Prior to joining the PCAOB, Mr. Wilfert worked for a decade at PricewaterhouseCoopers. Two of those ten years were spent at the firm's national office focusing on risk management and performing consultations. Before joining PricewaterhouseCoopers, Mr. Wilfert worked for Arthur Andersen. He began his audit career at KPMG Peat Marwick.
Mr. Wilfert also serves as part time adjunct faculty teaching auditing in the Masters of Accountancy Program at the University of California, Irvine. Mr. Wilfert earned a B.S. in Accounting from Loyola Marymount University. Mr. Wilfert is a certified public accountant in California and New Jersey.
