Input Capital provides non-constraining capital to farmers through agricultural commodity streaming agreements. It focuses on canola farmers in Western Canada initially. Input Capital receives a fixed payment per tonne of canola delivered but also shares in increased yields from precision farming practices. It has a portfolio of 10 producing farms for 2013 with contracts extending out to 2019. Input Capital offers investors exposure to the growing agriculture industry without commodity price risk or debt.
Ladder Capital - Investor Presentation (Sept. 2019)David Merkur
This document is an investor presentation for Ladder Capital Corp, a commercial mortgage REIT. Some key points:
- Ladder has a $2 billion equity market cap and is a leader in commercial real estate finance, focusing on middle-market loans, securities, and equity.
- It has a consistent track record of profitability since inception, with $1.7 billion in core earnings and no quarterly losses. It maintains a conservative leverage ratio.
- Ladder has a best-in-class management team that has worked together for many years through multiple cycles and owns 11.3% of the company's equity.
- The company generates stable net interest income from a portfolio of $6
Ladder Capital - Investor Presentation (Sept. 2019)David Merkur
Ladder Capital Corp is a commercial mortgage REIT that invests in senior secured loans, securities, and commercial real estate equity. It has a national direct origination platform and $6.4B in commercial debt and equity assets. The presentation discusses Ladder's consistent profitability track record through multiple cycles, with no quarterly losses. It highlights the company's experienced management team, conservative leverage and dividend payout ratios, and alignment of interests between management and shareholders.
ICICI Prudential Strategic Metal and Energy Equity Fund of Fundiciciprumf
Energise your portfolio with a global opportunity to grow. The ICICI Prudential Strategic Metal and Energy Equity Fund of Fund allows you to invest in gold and oil that push growth for many nations. To know more, read the brochure.
This investor presentation by Ladder Capital Corp provides an overview of the company and its business lines. Some key points:
- Ladder has a $6 billion portfolio of commercial real estate debt and equity investments across lending, securities, and real estate equity.
- Lending makes up 65% of the portfolio and includes conduit loans, balance sheet loans, and mezzanine/subordinate loans.
- Securities, primarily commercial mortgage-backed securities, make up 15% of the portfolio.
- Real estate equity, including net leased properties and other commercial real estate, makes up 19% of the portfolio.
- Financially, Ladder has achieved a 10.9% after-tax
Aurora investor presentation - April 2018hughcarter
The document provides an overview of Aurora Cannabis Inc., a company focused on the production and distribution of medical cannabis. Key points:
- Aurora has over 280,000 kg per year of funded production capacity across several facilities.
- The company pursues growth through innovation, execution, expansion internationally and through acquisitions. It has acquired 8 companies and made 7 strategic investments.
- Aurora is well positioned for international growth, with existing sales or operations in Germany, Denmark, Italy, Australia, Cayman Islands, and South Africa. It aims to capitalize on medical cannabis markets in Europe and globally.
Ladder Capital - Investor Presentation (November 2019)David Merkur
Ladder Capital Corp is a leading commercial mortgage REIT with $6.6 billion in CRE debt and equity assets. It has a multi-cylinder platform focused on CRE credit underwriting and generates industry-leading returns through loans, securities, and equity investments, with 79% of assets in senior secured products. The company has a cycle-tested management team with a track record of profitability and strong shareholder alignment.
Ladder Capital - Investor Presentation (November 2019)David Merkur
Ladder Capital Corp is a commercial mortgage REIT that invests in commercial real estate loans, securities, and equity. It has a $6.6 billion portfolio of CRE assets focused on the middle market. Ladder utilizes a fully integrated in-house team to originate, underwrite, and manage its primarily senior secured loan portfolio. The company has a consistent track record of profitability through multiple market cycles and maintains a conservative leverage profile and dividend payout.
This document summarizes Steve Boyle's presentation at the Barclays Americas Select Franchise Conference in May 2017. The key points are:
1) TD Ameritrade has evolved over four phases since 1975, growing client assets from $26 billion to $847 billion as of March 2017. The acquisition of Scottrade will take assets above $1 trillion.
2) The strategy is to deliver a superior client experience through scale, speed, simplicity and innovation while leading in trading and growing client assets.
3) Goals for 2017 include improving the client experience, building out advice solutions, growing client assets, leading in trading, increasing speed to market, simplifying processes, and delivering a great associate experience.
Ladder Capital - Investor Presentation (Sept. 2019)David Merkur
This document is an investor presentation for Ladder Capital Corp, a commercial mortgage REIT. Some key points:
- Ladder has a $2 billion equity market cap and is a leader in commercial real estate finance, focusing on middle-market loans, securities, and equity.
- It has a consistent track record of profitability since inception, with $1.7 billion in core earnings and no quarterly losses. It maintains a conservative leverage ratio.
- Ladder has a best-in-class management team that has worked together for many years through multiple cycles and owns 11.3% of the company's equity.
- The company generates stable net interest income from a portfolio of $6
Ladder Capital - Investor Presentation (Sept. 2019)David Merkur
Ladder Capital Corp is a commercial mortgage REIT that invests in senior secured loans, securities, and commercial real estate equity. It has a national direct origination platform and $6.4B in commercial debt and equity assets. The presentation discusses Ladder's consistent profitability track record through multiple cycles, with no quarterly losses. It highlights the company's experienced management team, conservative leverage and dividend payout ratios, and alignment of interests between management and shareholders.
ICICI Prudential Strategic Metal and Energy Equity Fund of Fundiciciprumf
Energise your portfolio with a global opportunity to grow. The ICICI Prudential Strategic Metal and Energy Equity Fund of Fund allows you to invest in gold and oil that push growth for many nations. To know more, read the brochure.
This investor presentation by Ladder Capital Corp provides an overview of the company and its business lines. Some key points:
- Ladder has a $6 billion portfolio of commercial real estate debt and equity investments across lending, securities, and real estate equity.
- Lending makes up 65% of the portfolio and includes conduit loans, balance sheet loans, and mezzanine/subordinate loans.
- Securities, primarily commercial mortgage-backed securities, make up 15% of the portfolio.
- Real estate equity, including net leased properties and other commercial real estate, makes up 19% of the portfolio.
- Financially, Ladder has achieved a 10.9% after-tax
Aurora investor presentation - April 2018hughcarter
The document provides an overview of Aurora Cannabis Inc., a company focused on the production and distribution of medical cannabis. Key points:
- Aurora has over 280,000 kg per year of funded production capacity across several facilities.
- The company pursues growth through innovation, execution, expansion internationally and through acquisitions. It has acquired 8 companies and made 7 strategic investments.
- Aurora is well positioned for international growth, with existing sales or operations in Germany, Denmark, Italy, Australia, Cayman Islands, and South Africa. It aims to capitalize on medical cannabis markets in Europe and globally.
Ladder Capital - Investor Presentation (November 2019)David Merkur
Ladder Capital Corp is a leading commercial mortgage REIT with $6.6 billion in CRE debt and equity assets. It has a multi-cylinder platform focused on CRE credit underwriting and generates industry-leading returns through loans, securities, and equity investments, with 79% of assets in senior secured products. The company has a cycle-tested management team with a track record of profitability and strong shareholder alignment.
Ladder Capital - Investor Presentation (November 2019)David Merkur
Ladder Capital Corp is a commercial mortgage REIT that invests in commercial real estate loans, securities, and equity. It has a $6.6 billion portfolio of CRE assets focused on the middle market. Ladder utilizes a fully integrated in-house team to originate, underwrite, and manage its primarily senior secured loan portfolio. The company has a consistent track record of profitability through multiple market cycles and maintains a conservative leverage profile and dividend payout.
This document summarizes Steve Boyle's presentation at the Barclays Americas Select Franchise Conference in May 2017. The key points are:
1) TD Ameritrade has evolved over four phases since 1975, growing client assets from $26 billion to $847 billion as of March 2017. The acquisition of Scottrade will take assets above $1 trillion.
2) The strategy is to deliver a superior client experience through scale, speed, simplicity and innovation while leading in trading and growing client assets.
3) Goals for 2017 include improving the client experience, building out advice solutions, growing client assets, leading in trading, increasing speed to market, simplifying processes, and delivering a great associate experience.
Ladder Capital - Q2 2020 Earnings Supplemental PresentationDavid Merkur
Ladder Capital provided a supplemental data presentation for the quarter ended June 30, 2020. Some key highlights include:
- The company has $6.6 billion in total assets, including $3.0 billion in loans, $1.5 billion in securities, and $1.0 billion in real estate equity.
- They enhanced their capital structure by increasing non-mark-to-market and non-recourse financing, as well as significantly increasing their unrestricted cash balance to $826 million.
- Core earnings for the quarter were $12.8 million, with an after-tax core return on average equity of 4.0% for the quarter.
Ladder Capital - Q2 2020 Earnings Supplemental PresentationDavid Merkur
Ladder Capital provided a supplemental data presentation for the quarter ended June 30, 2020. Some key highlights include:
- The company has $6.6 billion in total assets, including $3.0 billion in loans, $1.5 billion in securities, and $1.0 billion in real estate equity.
- They enhanced their capital structure by increasing non-mark-to-market and non-recourse financing, as well as significantly increasing their unrestricted cash balance to $826 million.
- Core earnings for the quarter were $12.8 million, with an after-tax core return on average equity of 4.0% for the quarter.
Ladder Capital - Q2 2020 Earnings Supplemental PresentationDavid Merkur
Ladder Capital provided a supplemental data presentation for the quarter ended June 30, 2020. Some key highlights include:
- The company has $6.6 billion in total assets, including $3.0 billion in loans, $1.5 billion in securities, and $1.0 billion in real estate equity.
- They enhanced their capital structure by increasing non-mark-to-market and non-recourse financing, as well as significantly increasing their unrestricted cash balance to $826 million.
- Core earnings for the quarter were $12.8 million, with an after-tax core return on average equity of 4.0% for the quarter.
This document provides disclaimers and information regarding an investment opportunity in Kut Auto Finance LLC, which aims to introduce integrity to subprime auto lending. It summarizes Kut's process of ethically refinancing predatory auto loans at lower rates to benefit customers financially and increase profits. The document includes pro forma financial projections and details on minimum investment amounts and intended use of proceeds.
Medalist Diversified REIT (NASDAQ: MDRR) was founded in 2003 as a private equity company specializing in acquiring, owning, and managing commercial real estate in the Southeast. The Company’s strategy is to focus on value-add and opportunistic commercial real estate which is expected to provide an attractive balance of risk and returns. Medalist utilizes a rigorous, consistent, and replicable process for sourcing and conducting due diligence of acquisitions. The Company seeks to maximize operating performance of current properties by utilizing a hands-on approach to property management while monitoring the middle market real estate markets in the Southeast for acquisition opportunities and disposal of properties as considered appropriate.
Presentation and Overview of the Fully Integrated Investment and Wealth Management services offered by Finer Wealth Management to include investment, tax, financial planning, insurance and bill paying to Boston's North Shore and surrounding communities.
Ladder Capital - Q2 2020 Earnings Supplemental PresentationDavid Merkur
Ladder Capital Corp reported its results for the quarter ended June 30, 2020. Some highlights include:
- Total assets of $6.6 billion including $3.0 billion in loans, $1.5 billion in securities, and $1.0 billion in commercial real estate equity.
- Generated core earnings of $12.8 million and core EPS of $0.12 for the quarter.
- Declared a $0.20 per share dividend, representing a 10.4% annual yield.
- Increased liquidity with $826 million of unrestricted cash and reduced adjusted leverage to 3.1x.
This document is Mohammed Saud Alshiban's personal financial plan. It includes assumptions about his income, assets, and goals. It provides analyses of his current balance sheet, income statement, asset allocation, credit card options, investment funds, home purchase, taxes, and insurance coverage. The plan outlines Mohammed's short-term goals within 5 years and longer-term goals within 10-20 years, such as paying off his mortgage, investing in a business and beach property, and family trips.
Ladder Capital - Q1 2020 Earnings Supplemental Presentation (2020-05-05)David Merkur
This document provides an overview of Ladder Capital Corp's financial results and capital structure as of March 31, 2020 and May 1, 2020. Some key highlights include:
- Total assets of $7.3 billion including $3.5 billion in loans and $1.9 billion in securities
- Adjusted leverage ratio of 3.8x as of March 31, 2020 and estimated 3.4x as of May 1, 2020
- Over $830 million in unrestricted cash as of May 1, 2020
- Enhanced liquidity through $500 million in non-recourse financing transactions and $408 million in asset sales
- $1.5 billion in book equity value and
This document is a brochure from Family Investment Center, an investment advisory firm. It provides information on the firm's qualifications, business practices, fees, investment strategies, and key personnel. Family Investment Center provides financial planning and investment management services to individuals and institutional clients. Fees for planning are hourly or fixed, while investment management fees are based on a percentage of assets under management. The firm's investment approach focuses on long-term strategies utilizing mutual funds and securities to achieve clients' objectives.
Aurora Investor presentation December 2017AuroraCannabis
Aurora is a leading cannabis company focused on innovation, execution, and expansion both domestically and globally. The document discusses Aurora's:
1) Agility in rapidly scaling operations and achieving sales growth through strategic partnerships and acquisitions.
2) Innovation across cultivation, concentrates production, and customer experience.
3) Execution on expanding production capacity through multiple facilities in Canada and internationally, with a focus on achieving EU GMP certification.
Ladder Capital - Q2 2020 Earnings Supplemental Presentation (2020-07-30)David Merkur
Ladder Capital provided a supplemental document for the quarter ended June 30, 2020 with the following key points:
- They reported $12.8 million in Core Earnings and $0.12 in Core EPS for the quarter.
- Their capital structure was updated this quarter with over $500 million in new non-recourse financing obtained through CLO and Koch transactions.
- They have a staggered debt maturity profile with $822 million reduction in maturities through 2021. Liquidity was also increased with $826 million in unrestricted cash.
- Their unencumbered asset pool totals $2.7 billion with strong coverage ratios for their unsecured debt.
Medalist Diversified REIT currently owns 546,651 square feet of retail space, 220,000 square feet of flex/industrial space, and one 148-room hotel located in the Southeast US. The presentation discusses Medalist's investment strategy, which includes opportunistic investing in value-add commercial properties, hands-on management, and a focus on secondary and tertiary markets. It also provides an overview of Medalist's experienced management team and investment portfolio.
Legacy Education Alliance is a leading international provider of personal finance and investing education. It operates globally with over 200 employees and has served over 2 million students from over 150 countries. Legacy's flagship brand is Rich Dad Education, based on the teachings of Robert Kiyosaki. Legacy provides practical training through workshops, seminars, conferences, and online/on-demand courses on topics such as real estate investing, entrepreneurship, and trading financial instruments. It has a diverse portfolio of 14 brands and generates the majority of its revenue from the U.S. and Rich Dad branded programs.
This document discusses opportunity zones and the tax incentives provided under the Opportunity Zone program. It provides an overview of what opportunity zones are, where they are located, and the key tax benefits for investors including deferral of capital gains taxes, partial exclusions of capital gains, and the ability to exclude capital gains accrued on opportunity zone investments held for over 10 years. It also discusses eligible opportunity zone investments, the structure of opportunity funds, and some examples of recent deals.
Startups in a Down Economy: Legal, Business, and Financing Strategiesideatoipo
Launching a startup - or starting a business - is challenging and is fraught with pitfalls. This is even more so in the midst of a pandemic and a global recession.
Roger Royse, partner at the law firm of Haynes and Boone, LLP in Palo Alto, will discus strategies for building and operating a successful business or startup during a recession. Roger will discuss:
1) What should you expect from your vendors, customers and financiers?
2) How can startup founders protect themselves from predatory creditors during a bad economy?
3) What will financing terms look like now?
Is startup investment capital even available?
4) What are some tax traps to avoid when working out debt obligations with investors and creditors?
5) Can startups still get federal stimulus grant money or loans?
6) What will venture capital terms look like now?
7) For existing startup companies -- how can you get venture capitalists to step up and continue funding your startup company?
8) How viable is crowdfunding and other alternative sources of funding in 2020?
9) If you lost your job or have been furloughed, how do you get started doing gig work in a gig economy?
What are the legal traps and restrictions for gig workers?
10) What other strategies and tactics should entrepreneurs deploy during a downturn?
and more!
Please come with your questions, comments and scenarios.
How to Prep for Venture Capital Funding Part 2: Venture Capital Termsideatoipo
Getting venture capital funding is the ultimate yet often elusive goal of many Silicon Valley startups. Venture capital funding dramatically improves a startup's chances of having a big IPO or buy out exit. Most startups at their inception have the hope, if not the expectation, that they will eventually receive venture capital funding.
In the current environment, venture capital funding has become more competitive, but it is still available. This presentation is the second of two parts and will cover typical venture capital deal terms and points, negotiating with venture capitalists and what to expect in the current environment.
Corporate and startup attorney Roger Royse will discuss:
1) Should you be approaching venture capitalists now
2) How (and when) you should value your startup for venture capitalists
3) What are typical venture capital financing terms
4) What terms you may negotiate and what terms are standard
5) How to protect yourself from dilution, freeze outs and forfeiture of shares
6) How to manage your investors after the close
7) Planning for a venture capital backed exit
8) What to do when things go wrong
9) Troubled company terms, down rounds and recaps
10) How to access and leverage funding sources during a global economic crisis
and more!
Limited partners investing in five private equity funds seeking to raise $1.5-2 billion are demanding lower fees for fund managers and more control over investment decisions. Specifically, they want fees charged only on actual investments made rather than total funds raised. Limited partners are also pushing for fund managers to commit more of their own money and to narrow investment strategies to a few sectors. These increased demands from limited partners are a result of poor returns from past investments in India, with funds exiting only $15-20 billion of the $60 billion invested.
The document discusses plans for a luxury customization brand called Hadoro. It summarizes that Hadoro had strong growth from €1.4M in 2017 to €9M in 2019 and plans to reach €21.5M in 2020. It outlines Hadoro's strategy to become a leader in new material development and launch a unique retail concept called Hadoro Lab for customizing accessories and watches. It also discusses plans to expand custom phone and watch offerings and create a full lifestyle collection through collaborations. Recent retail successes at Harrods and Galeries Lafayette Doha are cited in support of further retail development.
Ladder Capital - Q2 2020 Earnings Supplemental PresentationDavid Merkur
Ladder Capital provided a supplemental data presentation for the quarter ended June 30, 2020. Some key highlights include:
- The company has $6.6 billion in total assets, including $3.0 billion in loans, $1.5 billion in securities, and $1.0 billion in real estate equity.
- They enhanced their capital structure by increasing non-mark-to-market and non-recourse financing, as well as significantly increasing their unrestricted cash balance to $826 million.
- Core earnings for the quarter were $12.8 million, with an after-tax core return on average equity of 4.0% for the quarter.
Ladder Capital - Q2 2020 Earnings Supplemental PresentationDavid Merkur
Ladder Capital provided a supplemental data presentation for the quarter ended June 30, 2020. Some key highlights include:
- The company has $6.6 billion in total assets, including $3.0 billion in loans, $1.5 billion in securities, and $1.0 billion in real estate equity.
- They enhanced their capital structure by increasing non-mark-to-market and non-recourse financing, as well as significantly increasing their unrestricted cash balance to $826 million.
- Core earnings for the quarter were $12.8 million, with an after-tax core return on average equity of 4.0% for the quarter.
Ladder Capital - Q2 2020 Earnings Supplemental PresentationDavid Merkur
Ladder Capital provided a supplemental data presentation for the quarter ended June 30, 2020. Some key highlights include:
- The company has $6.6 billion in total assets, including $3.0 billion in loans, $1.5 billion in securities, and $1.0 billion in real estate equity.
- They enhanced their capital structure by increasing non-mark-to-market and non-recourse financing, as well as significantly increasing their unrestricted cash balance to $826 million.
- Core earnings for the quarter were $12.8 million, with an after-tax core return on average equity of 4.0% for the quarter.
This document provides disclaimers and information regarding an investment opportunity in Kut Auto Finance LLC, which aims to introduce integrity to subprime auto lending. It summarizes Kut's process of ethically refinancing predatory auto loans at lower rates to benefit customers financially and increase profits. The document includes pro forma financial projections and details on minimum investment amounts and intended use of proceeds.
Medalist Diversified REIT (NASDAQ: MDRR) was founded in 2003 as a private equity company specializing in acquiring, owning, and managing commercial real estate in the Southeast. The Company’s strategy is to focus on value-add and opportunistic commercial real estate which is expected to provide an attractive balance of risk and returns. Medalist utilizes a rigorous, consistent, and replicable process for sourcing and conducting due diligence of acquisitions. The Company seeks to maximize operating performance of current properties by utilizing a hands-on approach to property management while monitoring the middle market real estate markets in the Southeast for acquisition opportunities and disposal of properties as considered appropriate.
Presentation and Overview of the Fully Integrated Investment and Wealth Management services offered by Finer Wealth Management to include investment, tax, financial planning, insurance and bill paying to Boston's North Shore and surrounding communities.
Ladder Capital - Q2 2020 Earnings Supplemental PresentationDavid Merkur
Ladder Capital Corp reported its results for the quarter ended June 30, 2020. Some highlights include:
- Total assets of $6.6 billion including $3.0 billion in loans, $1.5 billion in securities, and $1.0 billion in commercial real estate equity.
- Generated core earnings of $12.8 million and core EPS of $0.12 for the quarter.
- Declared a $0.20 per share dividend, representing a 10.4% annual yield.
- Increased liquidity with $826 million of unrestricted cash and reduced adjusted leverage to 3.1x.
This document is Mohammed Saud Alshiban's personal financial plan. It includes assumptions about his income, assets, and goals. It provides analyses of his current balance sheet, income statement, asset allocation, credit card options, investment funds, home purchase, taxes, and insurance coverage. The plan outlines Mohammed's short-term goals within 5 years and longer-term goals within 10-20 years, such as paying off his mortgage, investing in a business and beach property, and family trips.
Ladder Capital - Q1 2020 Earnings Supplemental Presentation (2020-05-05)David Merkur
This document provides an overview of Ladder Capital Corp's financial results and capital structure as of March 31, 2020 and May 1, 2020. Some key highlights include:
- Total assets of $7.3 billion including $3.5 billion in loans and $1.9 billion in securities
- Adjusted leverage ratio of 3.8x as of March 31, 2020 and estimated 3.4x as of May 1, 2020
- Over $830 million in unrestricted cash as of May 1, 2020
- Enhanced liquidity through $500 million in non-recourse financing transactions and $408 million in asset sales
- $1.5 billion in book equity value and
This document is a brochure from Family Investment Center, an investment advisory firm. It provides information on the firm's qualifications, business practices, fees, investment strategies, and key personnel. Family Investment Center provides financial planning and investment management services to individuals and institutional clients. Fees for planning are hourly or fixed, while investment management fees are based on a percentage of assets under management. The firm's investment approach focuses on long-term strategies utilizing mutual funds and securities to achieve clients' objectives.
Aurora Investor presentation December 2017AuroraCannabis
Aurora is a leading cannabis company focused on innovation, execution, and expansion both domestically and globally. The document discusses Aurora's:
1) Agility in rapidly scaling operations and achieving sales growth through strategic partnerships and acquisitions.
2) Innovation across cultivation, concentrates production, and customer experience.
3) Execution on expanding production capacity through multiple facilities in Canada and internationally, with a focus on achieving EU GMP certification.
Ladder Capital - Q2 2020 Earnings Supplemental Presentation (2020-07-30)David Merkur
Ladder Capital provided a supplemental document for the quarter ended June 30, 2020 with the following key points:
- They reported $12.8 million in Core Earnings and $0.12 in Core EPS for the quarter.
- Their capital structure was updated this quarter with over $500 million in new non-recourse financing obtained through CLO and Koch transactions.
- They have a staggered debt maturity profile with $822 million reduction in maturities through 2021. Liquidity was also increased with $826 million in unrestricted cash.
- Their unencumbered asset pool totals $2.7 billion with strong coverage ratios for their unsecured debt.
Medalist Diversified REIT currently owns 546,651 square feet of retail space, 220,000 square feet of flex/industrial space, and one 148-room hotel located in the Southeast US. The presentation discusses Medalist's investment strategy, which includes opportunistic investing in value-add commercial properties, hands-on management, and a focus on secondary and tertiary markets. It also provides an overview of Medalist's experienced management team and investment portfolio.
Legacy Education Alliance is a leading international provider of personal finance and investing education. It operates globally with over 200 employees and has served over 2 million students from over 150 countries. Legacy's flagship brand is Rich Dad Education, based on the teachings of Robert Kiyosaki. Legacy provides practical training through workshops, seminars, conferences, and online/on-demand courses on topics such as real estate investing, entrepreneurship, and trading financial instruments. It has a diverse portfolio of 14 brands and generates the majority of its revenue from the U.S. and Rich Dad branded programs.
This document discusses opportunity zones and the tax incentives provided under the Opportunity Zone program. It provides an overview of what opportunity zones are, where they are located, and the key tax benefits for investors including deferral of capital gains taxes, partial exclusions of capital gains, and the ability to exclude capital gains accrued on opportunity zone investments held for over 10 years. It also discusses eligible opportunity zone investments, the structure of opportunity funds, and some examples of recent deals.
Startups in a Down Economy: Legal, Business, and Financing Strategiesideatoipo
Launching a startup - or starting a business - is challenging and is fraught with pitfalls. This is even more so in the midst of a pandemic and a global recession.
Roger Royse, partner at the law firm of Haynes and Boone, LLP in Palo Alto, will discus strategies for building and operating a successful business or startup during a recession. Roger will discuss:
1) What should you expect from your vendors, customers and financiers?
2) How can startup founders protect themselves from predatory creditors during a bad economy?
3) What will financing terms look like now?
Is startup investment capital even available?
4) What are some tax traps to avoid when working out debt obligations with investors and creditors?
5) Can startups still get federal stimulus grant money or loans?
6) What will venture capital terms look like now?
7) For existing startup companies -- how can you get venture capitalists to step up and continue funding your startup company?
8) How viable is crowdfunding and other alternative sources of funding in 2020?
9) If you lost your job or have been furloughed, how do you get started doing gig work in a gig economy?
What are the legal traps and restrictions for gig workers?
10) What other strategies and tactics should entrepreneurs deploy during a downturn?
and more!
Please come with your questions, comments and scenarios.
How to Prep for Venture Capital Funding Part 2: Venture Capital Termsideatoipo
Getting venture capital funding is the ultimate yet often elusive goal of many Silicon Valley startups. Venture capital funding dramatically improves a startup's chances of having a big IPO or buy out exit. Most startups at their inception have the hope, if not the expectation, that they will eventually receive venture capital funding.
In the current environment, venture capital funding has become more competitive, but it is still available. This presentation is the second of two parts and will cover typical venture capital deal terms and points, negotiating with venture capitalists and what to expect in the current environment.
Corporate and startup attorney Roger Royse will discuss:
1) Should you be approaching venture capitalists now
2) How (and when) you should value your startup for venture capitalists
3) What are typical venture capital financing terms
4) What terms you may negotiate and what terms are standard
5) How to protect yourself from dilution, freeze outs and forfeiture of shares
6) How to manage your investors after the close
7) Planning for a venture capital backed exit
8) What to do when things go wrong
9) Troubled company terms, down rounds and recaps
10) How to access and leverage funding sources during a global economic crisis
and more!
Limited partners investing in five private equity funds seeking to raise $1.5-2 billion are demanding lower fees for fund managers and more control over investment decisions. Specifically, they want fees charged only on actual investments made rather than total funds raised. Limited partners are also pushing for fund managers to commit more of their own money and to narrow investment strategies to a few sectors. These increased demands from limited partners are a result of poor returns from past investments in India, with funds exiting only $15-20 billion of the $60 billion invested.
The document discusses plans for a luxury customization brand called Hadoro. It summarizes that Hadoro had strong growth from €1.4M in 2017 to €9M in 2019 and plans to reach €21.5M in 2020. It outlines Hadoro's strategy to become a leader in new material development and launch a unique retail concept called Hadoro Lab for customizing accessories and watches. It also discusses plans to expand custom phone and watch offerings and create a full lifestyle collection through collaborations. Recent retail successes at Harrods and Galeries Lafayette Doha are cited in support of further retail development.
This 3 slide presentation provides an overview without going into details on any slide. Slide 1 introduces the topic of testing, while slides 2 and 3 continue the presentation without elaborating on their content. The high-level purpose and essential information conveyed by the slides is not clear from the limited content provided.
How B2B companies talk past their customersAdfactors B2B
The document summarizes research that found a gap between the messages that B2B companies use to promote their brands and what characteristics customers actually value. The research examined the branding of 90 large B2B companies and surveyed over 700 customers. It found that themes like social responsibility and sustainability, which companies emphasize, have little influence on customer perceptions of brand strength. In contrast, themes important to customers like specialist expertise and supply chain management were rarely mentioned by companies. The document concludes by offering three questions for companies to evaluate how well their branding aligns with customer needs.
Dostępny w GoldenLine.pl Profil Pracodawcy to platforma do „dialogu” między firmą i potencjalnymi pracownikami. Warto, taką możliwość komunikacji z kandydatami wykorzystać i zamieszczać treści, które będą dla nich interesujące. Zapraszam do zapoznania się z infografiką. Zawiera kilka cennych wskazówek, które mogą pomóc w osiągnięciu sukcesu wizerunkowego firmy.
The document summarizes research conducted to determine how to make the Shout magazine insert more appealing to its target year 10 audience. A questionnaire and focus group provided feedback on interests like GCSE tips, interviews with students, and work placements. Ideas for the insert include articles on GCSE preparation, interviews with GCSE and sixth form students, a math quiz, and a writing competition. The research aims to identify psychographic traits and address student needs to engage readers.
Jak poprawić wydajność pracy w ciągu dnia? Wystarczy 15-minutowa drzemka, która doda nam więcej energii niż kolejna porcja kawy lub energy drinka. Czy to możliwe? Więcej na: http://kariera.goldenline.pl/jak-poprawic-wydajnosc-w-pracy-infografika/
Trzeba przyznać świętemu Mikołajowi, że dobrze zarządza swoim świątecznym biznesem. Prezenty dowozi na czas, spełnia marzenia dzieci i dorosłych, ze wszystkim zdąża na czas. Od Mikołaja można nauczyć się wiele, szczególnie jeśli chce się być dobrym menadżerem.
This document discusses recycling and environmental awareness activities at a primary school in Latvia. It describes how the students used recycled materials like egg cartons and bottles to make decorations for their Christmas tree. The students also created posters with messages about helping the Earth that were addressed to people around the world. The primary school students worked on projects about ecological footprints and building a time capsule filled with items that cause global warming to be opened in the future. They used natural and recycled materials in their work and participated in online activities about recycling, building eco-cities, and a story about a polar bear and global warming.
The large-scale cyberinformatics method to replication is defined not only by the analysis of local-area networks, but also by the structured need for the Internet. Here, we confirm the refinement of superpages, which embodies the unfortunate principles of operating systems. SHODE, our new methodology for secure methodologies, is the solution to all of these obstacles.
Nie jesteśmy stworzeni do tego, aby osiem godzin dziennie siedzieć przed ekranem. Jeśli nasz organizm ma sprawnie funkcjonować, potrzebujemy ruchu. Z powodu jednostronnego obciążenia, nasze mięśnie utrzymywane są przez długi czas w stanie podwyższonego napięcia. Prowadzi to do skurczów, bólów i stresu. Badania potwierdzają również zwiększenie wydajności pracowników pracujących w biurach wyposażonych w tzw. standing workspace. Przyjrzyjmy się danym na infografice i spróbujmy wyciągnąć wnioski dobre dla naszego zdrowia.
The Manchester Experience by John Lorimer, Local Government BIM LiaisonClarkson Alliance
Presentation given at BIM Procurement and Practice for Collaboration Oxford in November 2013 by Professor John Lorimer, Local Government Liaison for the Government’s BIM Task Group and former Capital Programme Director of Manchester City Council sharing his experience of using Building Information Modelling (BIM) on the £95 million project to refurbish the Grade II* Manchester Central library
About Collaboration Oxford:
Through Collaboration Oxford, construction consultants The Clarkson Alliance, AKS Ward and Hoare Lea aim to help overcome the challenges of providing world class, low carbon buildings whilst preserving Oxfordshire’s heritage.
Rekrutacja z wykorzystaniem social media jest coraz popularniejsza i skuteczniejsza.
Zapraszamy do analizy infografiki. Szczególnie polecamy dane pokazujące jak kandydaci i pracodawcy korzystają z poszczególnych serwisów. Zapraszamy również na naszego bloga: http://blog.goldenline.pl/2014/01/14/social-media-w-rekrutacji/
Third Point Reinsurance Ltd. Investor Presentationirthirdpointre
This document provides an overview of Third Point Reinsurance Ltd. for informational purposes. Some key points:
- Third Point Re is a Bermuda-based specialty property and casualty reinsurer with an A- financial strength rating. It began operations in 2012 and went public in 2013.
- The company has a total return business model, combining flexible reinsurance underwriting with superior investment returns managed by Third Point LLC.
- As of March 2015, the company had $1.51 billion in shareholders' equity and a 3.1% growth in diluted book value per share in the prior quarter.
- The experienced senior management team pursues a diverse mix of traditional quota share deals, opport
Third Point Reinsurance Ltd. Investor Presentationirthirdpointre
This document provides an overview of Third Point Reinsurance Ltd. It discusses the company's total return business model, experienced management team, flexible underwriting strategy focusing on opportunistic deals and traditional quota shares, diversified premium base, and approach to reinsurance risk management. The summary highlights the company's goal of delivering superior returns through strong underwriting and investment management.
Third Point Reinsurance Ltd. Investor Presentationirthirdpointre
- The document provides an investor presentation for Third Point Reinsurance Ltd. for information purposes only.
- It summarizes Third Point Re's business model as a specialty property and casualty reinsurer based in Bermuda with an A- financial strength rating. The company utilizes a total return approach through flexible reinsurance underwriting and superior investment management by Third Point LLC.
- Key metrics shown include growth in diluted book value per share and return on equity for the last several years. The presentation also provides an overview of Third Point Re's management team, underwriting strategy, risk management practices, and relationship with Third Point LLC for investment management.
Third Point Reinsurance Ltd. Investor Presentationirthirdpointre
This document provides an overview of Third Point Reinsurance Ltd., including:
- It is a Bermuda-based specialty property and casualty reinsurer with an A- financial strength rating.
- It has an experienced senior management team and flexible underwriting strategy focused on opportunistic deals.
- It employs a total return business model through superior investment returns and underwriting profits without significant property catastrophe exposure.
- The document provides an investor presentation for Third Point Reinsurance Ltd. outlining key details about the company including its experienced management team, flexible underwriting strategy, relationship with investment manager Third Point LLC, and strong capital base.
- Third Point Re pursues a total return business model through opportunistic reinsurance underwriting and superior investment returns managed by Third Point LLC.
- It has a diversified portfolio of traditional quota share deals and more opportunistic transactions, with limited property catastrophe exposure.
Third Point Reinsurance Ltd. Investor Presentationirthirdpointre
- Third Point Reinsurance Ltd. is a Bermuda-based specialty property and casualty reinsurer with an A- financial strength rating.
- It employs a total return business model with flexible underwriting and superior investment management by Third Point LLC to deliver attractive shareholder returns.
- Key strengths include an experienced management team, a diverse portfolio of reinsurance contracts across lines of business, and market-leading 20.6% annualized returns since 1995 from Third Point's investment management.
Third Point Reinsurance Ltd. Investor Presentationirthirdpointre
Third Point Reinsurance provides the following key information:
1) It is a Bermuda-based specialty property and casualty reinsurer with an A- rating from A.M. Best and a total return business model designed to deliver superior returns through flexible underwriting and superior investment management by Third Point LLC.
2) It has experienced strong growth since inception in 2012 as shown by a 40.6% increase in diluted book value per share and maintains a diversified premium base across business lines and geographies.
3) It takes a flexible and opportunistic approach to underwriting and leverages relationships to access attractive opportunities while maintaining a focus on risk management and controlling its exposure.
dynaCERT 2016 December 16 Press ReleasedynaCERT Inc.
dynaCERT Inc. appointed Jean-Pierre Colin to its Board of Directors. Mr. Colin has extensive experience in investment banking, corporate finance, and governance from his roles with public companies. He will provide expertise to help dynaCERT achieve future success. The company also granted stock options to directors, officers, consultants and employees to acquire common shares. dynaCERT manufactures technology that reduces carbon emissions in combustion engines and is currently used in on-road applications.
This document provides an investor presentation for Third Point Reinsurance Ltd. It begins with cautionary statements about forward-looking statements and non-GAAP financial measures included. It then summarizes the company as a Bermuda-based specialty property and casualty reinsurer with an A- rating. Key metrics on growth in book value per share and returns are provided for 2014 and prior periods. The document discusses the company's total return business model, management team, flexible underwriting strategy, relationship with investment manager Third Point LLC, strong capital base, and growth in gross premiums written.
This document provides an investor presentation for a Bermuda-based specialty property and casualty reinsurer. It discusses the company's profile, including its A- financial strength rating from A.M. Best. It also outlines key metrics such as diluted book value per share, shareholders' equity, returns, and growth in book value. Additionally, it summarizes the company's total return business model, exceptional management team, organizational structure, underwriting strategy focusing on flexible and opportunistic deals, diversified premium base, and reinsurance risk management approach.
Third Point Reinsurance Ltd. Investor Presentationirthirdpointre
This document provides an investor presentation for Third Point Reinsurance Ltd. It summarizes the company as a specialty property and casualty reinsurer based in Bermuda with an A- financial strength rating. Key metrics on growth in book value per share and shareholders' equity are provided for recent periods. The presentation outlines the company's total return business model, exceptional management team, flexible underwriting strategy, diversified premium base, risk management approach, relationship with leading investment manager Third Point LLC, strong capital base, and growth in premiums since inception.
This document summarizes Eden Empire's cannabis retail portfolio and investment opportunity. It outlines Eden's competitive advantages including its award-winning brand, experienced management team, and grandfathered retail locations. The document presents Eden's strategy to rollout 20 retail stores across western Canada by 2020, which is forecasted to generate over $21 million in annual revenue. Key members of Eden's management and board of directors are introduced. Comparable public company financial data is provided and Eden's proposed capital structure is outlined.
Asanko Gold presented on their corporate social responsibility programs at the 2018 African Mining Indaba. They discussed fostering strong relationships with stakeholders through continuous engagement. Key programs highlighted included partnering to improve health facilities, increase access to education, provide vocational training, and boost local finance. Asanko aims to be a catalyst for community development and create lasting legacies through sustainable partnerships.
Global Partner Acquisition Corporation PresentationPano Anthos
The document discusses potential forward-looking statements and risks related to a SPAC (special purpose acquisition company) called Global Partner Acquisition Corp. (GPAC). It provides an overview of GPAC, including that it completed its IPO in July 2015 and is seeking a merger partner with an enterprise value between $150 million to $1 billion+. It then discusses GPAC's experienced management team and board, the transaction parameters and criteria GPAC will consider for a merger partner, and potential solutions GPAC can provide for a merger partner, such as providing liquidity for owners while maintaining an equity stake.
The document provides an overview of Aurora Cannabis Inc., a leading licensed producer of medical cannabis products in Canada. It highlights Aurora's:
1. Over 280,000 kg per year of funded production capacity across several facilities.
2. Focus on innovation in production, customer experience, and strategic partnerships.
3. Rapid growth and expansion strategy through domestic capacity increases, international markets, vertical integration and acquisitions.
Spider Resources Inc. is a Canadian mineral exploration company focused on acquiring and developing properties containing valuable mineral deposits. In 2009, the company spent $3.1 million exploring its properties, primarily the Big Daddy chromite deposit. It has sufficient funds to continue exploration programs in 2010. The company amended an agreement regarding the Big Daddy property, allowing it to increase its ownership stake through additional exploration expenditures. Management aims to further develop Big Daddy and acquire new prospective properties.
Objective: The investment objective of Avasar Hudson Partners, LP (‘Fund’) is to generate superior long term returns while minimizing realized investment losses.
GENERAL DISCLAIMER: The information contained herein regarding Avasar Hudson Partners, LP (the "Fund") has been prepared solely for illustration and discussion purposes and is not intended to be, nor should it be construed or used as, an offer to buy or sell or a solicitation of an offer to buy or sell any limited partnership interests in the Fund.
Avasar Partners, 157 Columbus Ave, 4th Floor, New York, NY 10023 Tel: 646‐216‐9890 Email: jjani@avasarpartners.com
Investment Strategy: The fund’s investment manager utilizes a bottom up fundamental research driven Long/Short equity strategy focusing primarily on US equities preferably of small and midcap companies.
Portfolio: Highly selective best ideas portfolio with concentrated positions (<10 Longs). Net exposure is variable based upon opportunities through the cycle. Risk is managed at the investment and portfolio level to limit realized losses at both levels.
Investment Process: Repeatable investment process of Buying equities at attractive prices; Creating a knowledge advantage through detailed research often over years; Identifying value enhancing catalysts; Sizing the position given the opportunity; Patiently managing through volatility to realize gains.
Team: The team has over 15 years of Investment and Credit experience through market cycle and multiple crises. Sidarth Kapoor, CFA, as Portfolio Manager managed a $300 million equity portfolio at Principled Capital Management. Jatin Jani, CFA, as Investment Analyst directly supported investments of $200 million at Principled Capital Management. Both worked in the Credit Division of Mizuho Corporate Bank.
Commitment: The Principals are committed towards meeting their objective with skin in the game and a focus to win.
Boardwalk Capital Management is an independent investment advisory firm based in Atlanta, Georgia that was founded in 2009. It manages portfolios for investors who want to connect their assets with social values without sacrificing returns. Boardwalk brings decades of investment experience and unique expertise in sustainable investing to customize each client's portfolio according to their specific values. It constructs portfolios using both traditional and socially impactful investments like ESG equities, quality of life bonds, and renewable energy to achieve competitive returns while reducing overall portfolio volatility.
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5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
The Rise of Generative AI in Finance: Reshaping the Industry with Synthetic DataChampak Jhagmag
In this presentation, we will explore the rise of generative AI in finance and its potential to reshape the industry. We will discuss how generative AI can be used to develop new products, combat fraud, and revolutionize risk management. Finally, we will address some of the ethical considerations and challenges associated with this powerful technology.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
2. Forward Looking Information
This Presentation discloses management policies, investment strategies and courses of conduct that may constitute “forward-looking
information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included
herein may be forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology
such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state
that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects the
Company’s current beliefs and is based on information currently available to the Company and on assumptions the Company believes are
reasonable at the time of preparation. These assumptions include, but are not limited to, the actual results of investee’s being equivalent to or
better than estimated results by the Company. Forward-looking information is subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those
expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business,
economic, competitive, political and social uncertainties; commodity prices; cyclical nature of the agricultural industry; weather; the early
stage development of the farming operations or dishonesty of the streaming partners; reliance on Messrs Emsley, Nystuen, Farquhar, and
Burgess, uncertainty in identifying and structuring streaming agreements, liquidity of investments, potential conflicts of interest, failure of the
Company to meet targeted returns, limited transferability of Shares, defaulting streaming partners, competition; changes in project parameters
as plans continue to be refined; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental
legislation affecting the Company and its streaming partners; timing and availability of external financing on acceptable terms; conclusions of
economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although the Company has attempted to identify
important factors that could cause actual results to differ materially from those contained in forward-looking information, there maybe other
factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forwardlooking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable
securities laws. As a result of these risks and uncertainties, actual events or results and the actual performance of the Company or its business
may be materially different from those reflected or contemplated in the forward looking statements or information. Likewise, in considering the
prior performance information contained herein, prospective investors should bear in mind that past performance and experience is not
necessarily indicative of future results, and there can be no assurance that the Company will achieve comparable results.
The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933
Act”), or any state securities laws. Accordingly, these securities may not be offered or sold within the United States of America or to a U.S.
Person (as such term is defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws
or an exemption from such registration is available.
2
4. WHO WE ARE
The world’s first agricultural commodity streaming company
Innovative source of long-term, non-constraining working capital
Aligned with producers to boost yields using industry-leading
precision agriculture practices
Input Capital provides a platform for significant value creation
4
5. THE WORLD’S PREMIER AG-STREAMING COMPANY
•
Input Capital Corporation (“Input Capital” or the “Company”) is the world’s first agricultural
commodity streaming company
•
Input Capital was created to bridge the gap in available funding sources for farm working capital
by providing non-constraining long-term working capital aimed at boosting production through
precision agronomics
•
Crop insurance mitigates downside crop yield risk while the negotiated interest in crop production
allows Input Capital to participate in any increased crop yield
•
Canola is the initial focus of Input Capital as it is the most profitable commodity for Canadian farmers
with an addressable target market of 50,000+ farmers in Western Canada alone
•
Management has developed a strong track record in the ag-sector, currently managing a portfolio of
$125+ million of farmland rented to 136 farmers, at least 75 of whom are canola producers
5
6. Management Track Record
100
NOW: Largest farmland investment
fund in Canada
Diversified $125+ million portfolio of
~117,000 acres of Saskatchewan
farmland
THEN: Launched first
farmland private equity
fund in Canada in 2005
$40 million farmland mortgage facility
through Farm Credit Canada
80
60
40
20
Thousands of Acres Owned
120
0
2005
2006
2007
2009
Raised $53 million in equity
through eight private & public
offerings since 2005
136 high quality farming tenants
across Saskatchewan
2010
2011
2012
2013
20.2% IRR (net of all fees) since inception
in 2005
Real Value
Creation
Units have appreciated from $18 in 2005 to
~$59 in 2013
Initial investors in Assiniboia have also
received $4.93 / unit in cash distributions
Management has Created a Leader in Canadian Agriculture Investing
Source: Assinoboia Farmland Limited Partnership MD&A
6
7. Board of Directors & Special Advisor
Name
Doug Emsley
Chairman
Highlights
•
•
•
•
Co-Founder and President of Assiniboia Capital and Palliser Farmland Management Corp.
President of Emsley & Associates (2002) Inc., Chairman of Security Resource Group Inc. and Sabre West Oil & Gas
Ltd.
Board member – Bank of Canada, Public Policy Forum, Saskatchewan Roughriders Football Club, Information
Services Corporation (TSX: ISV)
Director
•
•
Co-Founder, Vice-President & CFO of Assiniboia Capital and Palliser Farmland Management and President of Nomad
Capital Corp.
Director of Greenfield Carbon Offsetters Inc., Frontier Centre for Public Policy, and SIM Canada
Member of the Regina & District Chamber of Commerce Policy Committee
David Laidley
•
•
•
Chairman Emeritus, Deloitte Touche LLP (Canada)
Director, Aimia Inc., EMCOR Group Inc., ProSep Inc., Bank of Canada, Nautilus Indemnity Holdings Ltd.
CPA (Quebec)
•
•
•
•
President of CropLife Canada and Chairman of Genome Canada, Director of CARE Canada
Independent Review Committee – Assiniboia Farmland Limited Partnership
Member, Canadian International Food Security Research Fund Scientific Advisory Committee
Former Saskatchewan Minister of Agriculture, Finance, Education, and Energy & Mines
•
•
•
•
•
Counsel, Davies Ward Phillips & Vineberg LLP
Former Chairman & CEO – Ontario Securities Commission (OSC)
Former Chair, Board of Directors, Canadian Employment Insurance Financing Board
Member, Investment Advisory Board, Westerkirk Capital Inc.
Director & Member, Funds Advisory Board, Invesco Trimark Group of mutual funds
•
•
•
•
CEO, Morien Resources and Chairman, Delta Gold
Director, Sandstorm Gold Ltd., Sandstorm Metals & Energy Ltd. and Delta Gold Ltd.
Director, Alaris Royalty Corp.
Formerly Vice-Chairman, Cormark Securities, President & CEO of Orion Securities Inc., and Head of Investment
Banking, Scotia Capital Inc.
Brad Farquhar
Independent Director
Dr. Lorne Hepworth
Independent Director
David A. Brown, QC
Independent Director
Special Advisor:
John Budreski
Special Advisor
7
8. Management
Name
Doug Emsley
President, CEO &
Chairman of the Board
Highlights
•
•
•
•
Brad Farquhar
Executive VP, CFO &
Director
•
•
•
•
•
Co-Founder and President of Assiniboia Capital and Palliser Farmland Management Corp.
President of Emsley & Associates (2002) Inc., Chairman of Security Resource Group Inc. and Sabre West Oil & Gas
Ltd.
Board Member – Bank of Canada, Public Policy Forum, Saskatchewan Roughriders Football Club, Greenfield Carbon
Offsetters Inc., Information Services Corporation (TSX: ISV)
Former Board Member – Royal Utilities Income Fund (TSX)
Co-Founder, Vice-President & CFO of Assiniboia Capital and Palliser Farmland Management and President of Nomad
Capital Corp.
Director of Greenfield Carbon Offsetters Inc., Frontier Centre for Public Policy, and SIM Canada
Member of the Regina & District Chamber of Commerce Policy Committee
•
Gord Nystuen
Previously served as VP of Corporate Affairs at SaskPower
Former Deputy Minister of Agriculture, Chief of Staff to the Premier of Saskatchewan and Chairman of Saskatchewan
Crop Insurance Corporation
Partner, Golden Acres Seed Farm & Director of Avena Foods Ltd.
•
•
•
Director of Finance & Administration for Assiniboia Capital Corp. and Palliser Farmland Management Corp.
Previously served as a senior manager at Deloitte & Touche LLP
Director of Saskatchewan Science Centre
VP, Market Development
Jamie Burgess
Director of Finance & Administration
8
9. Agriculture Industry Fundamentals
•
Long-term food production must increase to keep pace with needs of a rising
population with the U.N. forecasting the global population will grow to 8+ billion
within the next decade
Long-Term Rising
Global Incomes
•
Economic growth in developing nations (i.e. China, India) fueling demand for
more and better food, driving demand for meats and better quality grains
Decreasing Arable
Land
•
Decreasing amount of arable farm acreage per capita is increasing pressure on
farmers to produce more food from less land by increasing crop yields
Recent Interest in
Biofuels
•
Rising interest and production in biofuels increasing demand for all grain
products and feedstock commodities
Increased
Population
9
10. Canola is a $19.3 Billion Industry in Canada
•
Canola is a crop that produces pods from which seeds are harvested and crushed to create
canola oil and meal
•
Canola demand is growing for many reasons:
The healthy oil
•
FDA has tentatively ruled to effectively ban the use of trans fats in foods
•
Canola oil is high in good fats, is trans fat free, contains no cholesterol and is a good source
of vitamin E
Biofuel feedstock and high quality animal feed
•
Canola is used as a source of feedstock for biofuel
•
Canola meal in animal feed is known to increase milk production by one litre, per cow, per day
Emerging industrial uses
•
Including plastics, protein isolates, adhesives and sealants
10
11. The Opportunity
Western Canada’s agriculture sector is significantly undercapitalized
and offers excellent, overlooked investment opportunities
•
Canadian farm assets = $330+ billion with Western Canada accounting for 52%
•
50,000+ canola farmers in Canada
•
Big Market
Massive intergenerational transfer of farm assets over the next 10-15 years:
Demographically
Driven
Sector
Consolidation
•
•
•
Aging Western Canadian farmers – more than 35% over age of 55 (vs. Canada @
30%)
Ongoing consolidation of farming sector
•
•
Underserved
Market
Expected to be over $30 billion in Saskatchewan alone
Many farmers are faced with once-in-a-lifetime expansion opportunities they cannot
afford on their own
Significant shortage of financing available for working capital in the farming sector
that matches the needs and requirements of farmers
•
Unlimited supply of farmland mortgage capital (FCC - $23 billion book) and leasing
capital (i.e. John Deere)
•
Precision farming is more capital intensive than older, less productive farming methods
Source: Statistics Canada
11
12. INPUT CAPITAL HIGHLIGHTS
“Game Changer” for Farmers
• Accelerates farm growth and productivity and improves bargaining power with grain handlers and input
providers
100% of Current Streams Will Generate Revenue in 2013
•
No production delays or capex overruns and close to immediate revenue (unlike many mining streams)
Scalable, Diversifiable Model where Key Relationships Create Barriers to Entry
•
Best in class farming relationships with the largest investor-to-farmer footprint in all of Saskatchewan
Strong Risk / Return Profile with Meaningful Future Growth Potential
•
Excellent return metrics and robust, unlevered operating cash flow generation
Strong Board and Management Team with Demonstrated Track Record in Ag-Space
•
High profile experienced management team
12
13. Business Process
1. Up Front Payment
Up front payments to farmer
for a Crop Production Interest
6. New Streaming Contracts
Free cash flow reinvested in
new streaming contracts for
compounding returns
2. Consulting Agrologist
Assigned
Retain services of a sciencebased agrologist
5. Upside Potential
Input Capital receives a share
of measured yield
improvement on farm resulting
from improved agronomy
3. Farmer Grows the Crop
The farmer and the agrologist
work to grow the best possible
crop
4. Crop Payment
The farmer delivers Input
Capital’s share of crop to
established elevators and is
paid a fixed price/tonne
13
14. Risk Management
Potential Concerns
Mitigating Factors
• Geographic diversification
• Streaming contracts call for fixed tonnage and are not yield dependent
Crop Shortfall
(i.e. weather, bad crop, etc.)
• Crop Insurance, paid for by the farmer, guarantees 70% of the farmer’s long-term average
yield
• Science-based agrologist on every farm helps ensure optimum crop yields
• Ability to accept other commodities of equal value in lieu of canola
• Strong track record with ~$20 million deployed within the first 6 months of operations
Capital Deployment
• Relationships with farm advisory firms provide thousands of potential clients
• Assiniboia Farmland provides a pipeline of 75 canola farmer tenants
• Typically-sized deal with each tenant would require over $130 million in capital
• Contractual protection on the “use of proceeds”
• Strong security covenants embedded into every contract
• General Security Agreement on the entire farm
Counterparty Risk
• Purchase Money Security Interest on inputs used and crops being grown (like a
Crop Lien)
• Second Mortgage against farmland in many cases
• Term life insurance provides an “easy exit” in the event of death of the farm operator
14
15. Growth Opportunities
Other Crops Grown Existing
Farm Partners
Farms produce other crops that
provide ancillary streaming
opportunities:
• Grains (wheat, barley, oats, durum)
• Pulses (lentils, peas, beans)
• Oilseeds (mustard, flax)
Top-Tier Business
Development Team
Three well-known and top quality
farmers greatly enhance deal
generation and processing
capabilities:
• Previous Saskatchewan Young
Farmer of the Year award winners
• Strong ambassadors for Input
Geographic Expansion
Expansion to Northern U.S. states that
grow similar crops to Western
Canadian farms i.e. ND, SD, MT
Expansion to global food companies
and overseas farmers that deal in a
variety of agricultural commodities
3 million acres
Growing
marketing
channels lead to
large deal-flow
6+ million acres
75+ canola farmers
Pending strategic
relationship
3,000+ farm clients
Additional capital
to be raised to
satisfy farmer
demand
15
16. High Quality Canola Streaming Portfolio
•
High quality asset base, well-diversified by
geography
•
10 producing farms in 2013
•
Farm range in size from 1,700 – 40,000
acres farmed
•
Source: Saskatchewan Ministry of Agriculture, Input Capital
Most recent contract represents first
expansion of Input into Alberta
•
Operating in a well-established industry in an
area of negligible political risk
•
Existing portfolio provides strong earnings
visibility
Contract Summary
2014B
2015F
2016F
2017F
2018F
2019F
Contract Base Tonnes
13,502
13,377
13,377
13,502
13,527
13,577
In-Year Additions to Base Tonnes
3,650
-
-
-
-
-
Total Base Tonnes
17,152
13,377
13,377
13,502
13,527
13,577
15%
15%
15%
15%
15%
15%
$79.05
$73.13
$73.13
$72.46
$72.32
$72.06
Claim to Bonus Tonnes
Average Cash Cost / MT
16
17. Exposure to Western Canadian Ag Space
•
Investors are increasingly looking for exposure to the secular tailwinds benefiting the
agriculture industry
•
Opportunities for direct exposure to farming and ownership of physical commodity are
restricted or difficult for most investors
•
International grain trading companies provide limited exposure to the Western Canadian
geography and are no longer purely focused on agriculture
Accessible to
Investors
No Debt
Farming
Canola Futures
Grain Trading
Companies
Input Capital
Commodity
Price Exposure
Yield Upside
Multiple
Expansion
No Operating
Cost Exposure
17
18. Benefits to Farmers
It is expensive to be poor … we help farmers drive down their cost of capital
Buying inputs off peak-season
•
•
20% - 40%
$25 - $30 per acre savings on fertilizer alone, reducing fertilizer costs by 20% to 25%
By buying and applying fertilizer in the fall, spring seeding logistics are improved and de-risked
Discounts for cash purchases
3%
Interest Costs
10%
Flexible Crop Marketing Program
6% - 12%
Total Savings (Inherent Cost of Capital)
39 - 65%
Inputs
Crop Revenue
Farmer
Input
Traditional Farming
$200/acre
$150-$250/acre
Leverage to canola price
Input Capital
$300/acre
$300-$450/acre
No crop input overruns
No ongoing capex
Fixed cash costs for life of contract
18
19. Profile of Target Farmers
•
Ideal farm has 3,000 – 12,000 acres of land located in dark brown & black soil zones of
Manitoba, Saskatchewan, and Alberta
•
Young farmers who possess the agronomic skills to grow great crops but require capital
partners to finance the intergenerational transfer of the farm
•
Established farmers with large expansion opportunities
•
Pre-qualified farmers without sufficient working capital to achieve their production goals or
potential
•
Farmers looking to expand significantly without degrading their balance sheets
Size of Farm: 4,000 acres
Per Acre
Capital Required
Farmland
$1,000+
$4,000,000+
Equipment
~$350
~$1,400,000
Annual Inputs
$200+
$800,000+
Totals
$1,550+/acre
$6,200,000+
Source Assiniboia Farmland, Iron Search, Input Capital
19
20. Public Market Summary
Capitalization Summary (December 2, 2013)
Trading Symbol
Recent Public Market Events
TSX-V: INP
Shares Outstanding
61.20M
Fully Diluted Shares
67.16M
Price
$1.73
Market Capitalization
$106M
52 Week Range
$1.58 - $2.12
Average Daily Volume
~81,000
Debt
$0
Cash Position
$41M
October 15, 2013
Input took delivery of canola from its first streaming contract,
selling 712 tonnes of canola for proceeds of $359,862, or an
average net price of $505 per tonne.
October 4, 2013
Input announced the closing of a previously announced bought
deal public offering and private placement for gross proceeds of
$37.5 million.
Analyst Coverage
Ownership
Directors & Management
December 1, 2013
In its monthly update for November 2013, Input announced that
it has surpassed the $1 million in revenue with recent deliveries.
18.4% Basic, 25.4% FD
Catlin Group
19.99%
Other Institutional
Siddharth Rajeev
12.66%
Private Investor
Widely Held
4.45%
43.80%
Michael Mills
Anoop Prihar
Spencer Churchill
Source: Company Filings & Records, TSX.com.
20
21. INPUT CAPITAL
The world’s first agricultural commodity streaming company
Innovative source of long-term, non-constraining working capital
Aligned with producers to boost yields using industry-leading
agronomic practices
Input Capital provides a platform for significant value creation
21
24. Global Canola Production
•
Canada is one of the largest producing countries of canola and the largest exporter,
exporting more than two thirds of global canola
•
Exports from Canada are driven primarily by demand in China, Japan, Mexico, the U.S., and other
parts of Asia
•
Canola produced in Canada is used for food (oil, animal feed) and industrial products (bio-fuels,
lubricants, etc)
Global Canola Producers
Canada,
24%
(14.7mT)
Global Canola Exports
China,
19%
(12mT)
Canada,
72%
India,
11%
(6.9mT)
EU-27,
32%
(19.9mT)
Source: USDA (2012/13)
Other,
13%
(8mT)
Other,
3%
Ukraine,
8%
Australia,
17%
Source: International Grains (2011/12)
24
25. Canola is Bigger than the Potash Industry
•
•
•
•
•
•
•
•
•
•
•
•
Canola is a bigger global market than potash
Canola is a bigger export business for Canada than potash
Canadian canola exports have been growing at a CAGR of 18.3% over the last 10 years (compared to
13.6% for potash)
Canola is Canada’s #7 export to the world (potash is #10)
Canadian canola exports have double the market share in global export markets than potash
Canadian canola exports to China are 8.5x the value of Canadian potash exports to China
Canadian canola exports to China have been growing at a CAGR of 36.4% over the last 10 years
(compared to 4.1% for potash)
Canola represents 16.0% of all Canadian exports to China (compared to 1.9% for potash)
Canola is Canada’s #1 export to China (potash is #12)
Canola employs 249,000 Canadians; Potash employs 5,041 Canadians
There are three companies providing investment exposure to Canadian potash production: POT, AGU,
MOS. They have a combined market cap of $60 billion.
In canola, there are 50,000 canola producers, but only one public company – Input Capital Corp
Sources: Statistics Canada, Industry Canada Trade Data Online, Potash Corporation of Saskatchewan, Sask Mining Association, Canola Council of Canada
25
26. Canadian Canola Exports
•
Canadian exports of canola continue to be driven by demand from Asia and emerging
markets with China accounting for the largest share of Canadian exports at 36.3%
Volume Growth Rate
(Last 5 Years)
Canola Rank Among
Imports from Canada –
Ranked by $ Value
(2012)
Canola Value as %
of Total Value of
Goods Imported
from Canada
(2012)
36.3%
333.0%
1
15.6%
Japan
28.2%
21.1%
2
14.4%
Mexico
18.1%
35.1%
1
17.8%
United Arab
Emirates
6.9%
216.6%
1
22.7%
USA
5.0%
75.5%
25
0.4%
Pakistan
2.7%
48.1%
1
44.5%
Bangladesh
1.2%
130.2%
2
15.8%
Others
1.5%
129.5%
% of Canadian
Export Market for
Canola (2012)
China
Country
Source: Statistics Canada, as published in the Western Producer, March 21, 2013; CanolaCouncil.org; Industry Canada Trade Data Online
26
27. North American Canola Production
•
Canada is the largest single producer of canola
with production concentrated in Western
Canada (specifically, Saskatchewan),
consisting of 20+ million acres seeded to
canola
•
There are also approximately 1.7 million
seeded acres of canola grown in the north
central and south eastern U.S. with North
Dakota as the dominant producing region
Input Capital Target
area
Source: Canola Council of Canada, U.S. Canola Association
27
28. Western Canadian Expansion
•
The ideal combination of soil organic matter and climate for canola production is found in the
Black, Dark Brown, and Dark Gray soils of Western Canada
Major Soil Zones of the Prairie Region
Source: http://www.fao.org/ag/AGP/AGPC/doc/Counprof/Canada/Canada.html
28
29. Canadian Canola Industry
•
Canada is the dominant exporter of
canola to the world with domestic
production having increased by ~300%
over the last decade
Western Canadian Canola Production in Tonnes
16,000
•
Canola is one of the world’s most
important oilseed crops, and the most
profitable commodity for Canadian
farmers, representing 25% of all farm
cash receipts in the country
Saskatchewan
Manitoba
14,000
• Canola is grown by 52,000 Canadian
farmers with 52% of Canadian canola
originating from Saskatchewan
Alberta
8,000
12,000
10,000
6,000
4,000
•
Canada’s dominant export position of
canola creates a natural hedge for
pricing
• When production falls due to poor crop
results, prices tend to rise to
compensate for lost tonnage
2,000
0
Source: Canola Council of Canada
• For example, when 8 mm acres went
unseeded in W. Canada in 2010,
canola prices rose from $373/tonne to
over $600/tonne
29
30. Canola Volatility and Prices
Canola prices have risen significantly over the last two years driven by increased demand from Asia, the
emerging biofuels industry, and the war on trans fats in western economies
Historical Canola Prices – 10 Year
$700
Canola Monthly Price
$600
$500
CAD per Tonne
•
$400
$300
$200
$100
$2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Source: Canola Council of Canada
30
31. Value Creation of Agronomics
•
The average canola in Saskatchewan is typically 25-30 bushels / acre while the yield potential
of modern canola varieties, using modern farm practices with optimal weather, is between 6070 bushels/acre
•
With the right agronomic program, farmers can focus on optimizing the yield potential of their
crops through;
•
Soil & tissue testing
•
Seed & seed treatments
•
Seeding precision
•
Weed control
•
In-crop operations – perfect timing & application
•
Crop residue management
•
Yield goals
Source: Canola Council of Canada
31