Industrial Technology
Those investors were rewarded with a significant return in a short period of time showing that our due diligence had correctly assessed the situation at Niton.
Competence
We were tasked with raising funds for Niton LLC or Billerica., MA. In October 2002 Niton presented various parties with financials showing a loss of $2.0 million whereas the actual YTD loss was $3.8 million. We were able to sort things out; identify and present a compelling case to interested individuals and institutions. We were in fact able to generate trust and optimism for investors. Those investors were rewarded with a significant return in a short period of time showing that our due diligence had correctly assessed the situation at Niton.
Integrity
We identified something amiss with the financials and held the clients accountable. We followed through on our mission to help Niton. We also followed through on our responsibility to protect potential investors.
Benevolence
Through this entire project we kept the best interests of our client and your investors at the for front. During summer 2002 the introduction of Niton’s new x-ray tube based metal analyzers was behind schedule and Niton was suffering manufacturing problems. We understood Niton’s needs (cash liquidity to allow them time to resolve the manufacturing issue) and structured a financing that provided cash on a continuous close as investors’ funds arrived. We understood the investors accurate financials of the company and full disclosure of manufacturing problems, and assisted Niton to restate the financials.
Niton was bought by Thermo-Electron for about $50 Million two
years later. Over a two-year time period investors received an
approximate return of 3.5X on their investment.