Lookout Capital provides growth capital and strategic advisory to small and growing companies. They operate with two guiding principles - helping entrepreneurs grow their businesses and being patient, people-focused investors seeking long-term returns. They typically invest between $500k-$20M in companies generating $2M-$10M in revenue, focusing on North Carolina companies. They are actively involved through board representation and management consulting, with the goal of helping portfolio companies achieve their strategic plans and increase shareholder value over the long term.
Structuring and Financing a Partner BuyoutGreg Tobben
Buying Out a Business Partner or Shareholder: Structuring and Financing the Deal
When an entrepreneur starts a new business, planning for a buyout of a business partner years in the future is rarely a top priority- but maybe it should be.
As businesses grow and evolve, so too do ownership or shareholder groups. The same partners or investors who took a company from startup to $20 million in revenues aren’t necessarily the right people to grow the company from $20 to $50 million, or $50 to $150 million, and so on.
Layer in retirements, partnership disputes and absentee or non-strategic owners receiving generous compensation, and making changes in ownership becomes increasingly more important (and costly) as the business grows.
On the next few pages, we’ll discuss:
1. When a Partner Buyout is a Solution
2. Valuing the Business
3. Structuring a Partner Buyout
4. Financing a Partner Buyout
5. Questions a Business Owner Should Ask When Raising Capital
6. Using an Investment Banker to Raise Capital for the Buyout
About Access Capital Partners:
Access Capital Partners is a middle market investment bank that provides strategic advisory services, raises capital for companies (growth, refinancing, restructuring, acquisitions, partner buyouts, management buyouts, leveraged buyouts), and helps business owners sell or recapitalization their companies.
We are shareholder centric and have deep experience in the middle market. With over 100 transactions representing over $8 billion in volume, business owners leverage our experience as they navigate through inflection points and ultimately achieve personal liquidity.
Acquisition Financing for Fundless Sponsors: 6 Ways to Negotiate Better Indep...Greg Tobben
Independent sponsor economics are paramount for those operating under a fundless sponsor model. Key components such as deal fees, management fees and carried interests are the reason you're in business.
In this presentation, Acquisition Financing for Fundless Sponsors: 6 Ways to Negotiate Better Independent Sponsor Economics, we'll walk through several practices you can use to get more transactions across the finish line and put yourself in a better position when negotiating with capital providers.
About Access Capital Partners:
Access Capital Partners is a middle market investment bank focused exclusively on raising capital for fundless or independent sponsors, operating executives, management teams and family offices.
We've Leveraged Years of Experience in Raising Capital Across a Wide Variety of Situations to Develop a Focused Effort Tailored to the Unique Needs of Independent or Fundless Sponsors.
Structuring and Financing a Partner BuyoutGreg Tobben
Buying Out a Business Partner or Shareholder: Structuring and Financing the Deal
When an entrepreneur starts a new business, planning for a buyout of a business partner years in the future is rarely a top priority- but maybe it should be.
As businesses grow and evolve, so too do ownership or shareholder groups. The same partners or investors who took a company from startup to $20 million in revenues aren’t necessarily the right people to grow the company from $20 to $50 million, or $50 to $150 million, and so on.
Layer in retirements, partnership disputes and absentee or non-strategic owners receiving generous compensation, and making changes in ownership becomes increasingly more important (and costly) as the business grows.
On the next few pages, we’ll discuss:
1. When a Partner Buyout is a Solution
2. Valuing the Business
3. Structuring a Partner Buyout
4. Financing a Partner Buyout
5. Questions a Business Owner Should Ask When Raising Capital
6. Using an Investment Banker to Raise Capital for the Buyout
About Access Capital Partners:
Access Capital Partners is a middle market investment bank that provides strategic advisory services, raises capital for companies (growth, refinancing, restructuring, acquisitions, partner buyouts, management buyouts, leveraged buyouts), and helps business owners sell or recapitalization their companies.
We are shareholder centric and have deep experience in the middle market. With over 100 transactions representing over $8 billion in volume, business owners leverage our experience as they navigate through inflection points and ultimately achieve personal liquidity.
Acquisition Financing for Fundless Sponsors: 6 Ways to Negotiate Better Indep...Greg Tobben
Independent sponsor economics are paramount for those operating under a fundless sponsor model. Key components such as deal fees, management fees and carried interests are the reason you're in business.
In this presentation, Acquisition Financing for Fundless Sponsors: 6 Ways to Negotiate Better Independent Sponsor Economics, we'll walk through several practices you can use to get more transactions across the finish line and put yourself in a better position when negotiating with capital providers.
About Access Capital Partners:
Access Capital Partners is a middle market investment bank focused exclusively on raising capital for fundless or independent sponsors, operating executives, management teams and family offices.
We've Leveraged Years of Experience in Raising Capital Across a Wide Variety of Situations to Develop a Focused Effort Tailored to the Unique Needs of Independent or Fundless Sponsors.
Private Equity Investor Value CreationLLR Partners
LLR's Justin Reger presented at the 2013 Southeast Venture Conference, held March 13 - 14 in Charlotte, NC.
Justin presented on how to get the most out of partnering with an investor. Beyond securing capital to help grow a business, partnering with an investor can bring with it the strategic guidance, corporate development support, access to talent networks and other resources needed to help business owners achieve their goals. Learn how to get the most long-term value out of a partnership with your investor.
Making the Most Out of the Independent Sponsor Model - Access Capital Partners Greg Tobben
For most independent sponsors, especially new ones, it’s helpful to get perspective on how different groups have implemented the independent sponsor model and learn what’s working for other groups and what’s not.
As advisors to this expanding group of investors, we speak regularly with both new and long-time sponsors, as well as independent sponsor capital providers. Here are 6 guidelines to help you get the most out of the independent sponsor model:
Whether you are considering forming a board or want to enhance existing governance practices, understanding the role of the board and expectations of directors is an essential ingredient to successful, value-added governance in private companies. Company leaders and board directors often struggle to determine the role of the board and how to separate board responsibilities from those of ownership and management. In this webinar, the audience will learn what companies are really looking for (or should be) from their boards, and the many ways that boards contribute to private company success. We will cover the definition of a board, typical expectations of a director, board oversight vs. management responsibilities, and many other basics of board formation and operation.
Part of the webinar series: Board of Directors Boot Camp 2021.
See more at https://www.financialpoise.com/webinars/
An investment in TPCM $25,000 9% Convertible Note(s) offers:
Immediate income;
Conversion to common stock or return of your investment in two years;
Upside potential returns (on conversion) of 25% to 112.5% per year (see details toward the end of this presentation);
Likely 5 year Buyout or IPO exit strategy.
For Accredited Investors
Equity Fundraising Founders Basics for Founders | Mohammed Elayan | Lunch & L...UCICove
About UCI Applied Innovation:
UCI Applied Innovation is a dynamic, innovative central platform for the UCI campus, entrepreneurs, inventors, the business community and investors to collaborate and move UCI research from lab to market.
About the Cove @ UCI:
To accelerate collaboration by better connecting innovation partners in Orange County, UCI Applied Innovation created the Cove, a physical, state-of-the-art hub for entrepreneurs to gather and navigate the resources available both on and off campus. The Cove is headquarters for UCI Applied Innovation, as well as houses several ecosystem partners including incubators, accelerators, angel investors, venture capitalists, mentors and legal experts.
Follow us on social media:
Facebook: @UCICove
Twitter: @UCICove
Instagram: @UCICove
LinkedIn: @UCIAppliedInnovation
For more information:
cove@uci.edu
http://innovation.uci.edu/
Interested in buying the company that you’ve been helping to build but are unsure of the implications behind a management buyout? Or are you a company owner looking to sell and wondering what the concerns of a prospective management team could be? Join our experts & learn everything you need to know to pursue a successful MBO.
To view this Welch LLP webinar (and others), click here: http://www.welchllp.com/resource-centre/videos/webinars/
Venture Capital Funds 101: Understanding How They Are Structured and Operated...UCICove
About UCI Applied Innovation:
UCI Applied Innovation is a dynamic, innovative central platform for the UCI campus, entrepreneurs, inventors, the business community and investors to collaborate and move UCI research from lab to market.
About the Cove @ UCI:
To accelerate collaboration by better connecting innovation partners in Orange County, UCI Applied Innovation created the Cove, a physical, state-of-the-art hub for entrepreneurs to gather and navigate the resources available both on and off campus. The Cove is headquarters for UCI Applied Innovation, as well as houses several ecosystem partners including incubators, accelerators, angel investors, venture capitalists, mentors and legal experts.
Follow us on social media:
Facebook: @UCICove
Twitter: @UCICove
Instagram: @UCICove
LinkedIn: @UCIAppliedInnovation
For more information:
cove@uci.edu
http://innovation.uci.edu/
For many business owners, the major source of retirement funding is the sale of their business or assets owned by the business. Fortunately, there are a number of capital gains tax (CGT) concessions available to small business that reduce or even eliminate the capital gain on the disposal of certain assets. It is important to understand the concessions available and the eligibility requirements to ensure entitlements are maximised.
Acquisition Financing for Fundless Sponsors: 6 ways to negotiate better Indep...Greg Porto
Independent (fundless) sponsors can improve their deal economics (equity ownership or carried interest, transaction fee, annual management fee) by following these 6 guidelines
Kijana Mack Ashton Global Investment ManagementKijana Mack
Ashton Global maintains long-standing relationships based on trust. We seek to be the best emerging manager platform in the world and we are dedicated to exceeding the expectations of our investors.
https://www.ashtonglobal.com/
Ashton Global is an emerging manager platform that specializes in niche investment strategies related to small-cap stocks and special situations.
Kijana Mack – Senior Managing Director, Portfolio Manager
Kijana has 14 years of experience in institutional investment management and corporate finance. He is responsible for overall enterprise risk and portfolio risk management at Ashton Global.
https://soundcloud.com/user-364986019/kijana-mack-interview-about-emerging-managers
Private Equity Investor Value CreationLLR Partners
LLR's Justin Reger presented at the 2013 Southeast Venture Conference, held March 13 - 14 in Charlotte, NC.
Justin presented on how to get the most out of partnering with an investor. Beyond securing capital to help grow a business, partnering with an investor can bring with it the strategic guidance, corporate development support, access to talent networks and other resources needed to help business owners achieve their goals. Learn how to get the most long-term value out of a partnership with your investor.
Making the Most Out of the Independent Sponsor Model - Access Capital Partners Greg Tobben
For most independent sponsors, especially new ones, it’s helpful to get perspective on how different groups have implemented the independent sponsor model and learn what’s working for other groups and what’s not.
As advisors to this expanding group of investors, we speak regularly with both new and long-time sponsors, as well as independent sponsor capital providers. Here are 6 guidelines to help you get the most out of the independent sponsor model:
Whether you are considering forming a board or want to enhance existing governance practices, understanding the role of the board and expectations of directors is an essential ingredient to successful, value-added governance in private companies. Company leaders and board directors often struggle to determine the role of the board and how to separate board responsibilities from those of ownership and management. In this webinar, the audience will learn what companies are really looking for (or should be) from their boards, and the many ways that boards contribute to private company success. We will cover the definition of a board, typical expectations of a director, board oversight vs. management responsibilities, and many other basics of board formation and operation.
Part of the webinar series: Board of Directors Boot Camp 2021.
See more at https://www.financialpoise.com/webinars/
An investment in TPCM $25,000 9% Convertible Note(s) offers:
Immediate income;
Conversion to common stock or return of your investment in two years;
Upside potential returns (on conversion) of 25% to 112.5% per year (see details toward the end of this presentation);
Likely 5 year Buyout or IPO exit strategy.
For Accredited Investors
Equity Fundraising Founders Basics for Founders | Mohammed Elayan | Lunch & L...UCICove
About UCI Applied Innovation:
UCI Applied Innovation is a dynamic, innovative central platform for the UCI campus, entrepreneurs, inventors, the business community and investors to collaborate and move UCI research from lab to market.
About the Cove @ UCI:
To accelerate collaboration by better connecting innovation partners in Orange County, UCI Applied Innovation created the Cove, a physical, state-of-the-art hub for entrepreneurs to gather and navigate the resources available both on and off campus. The Cove is headquarters for UCI Applied Innovation, as well as houses several ecosystem partners including incubators, accelerators, angel investors, venture capitalists, mentors and legal experts.
Follow us on social media:
Facebook: @UCICove
Twitter: @UCICove
Instagram: @UCICove
LinkedIn: @UCIAppliedInnovation
For more information:
cove@uci.edu
http://innovation.uci.edu/
Interested in buying the company that you’ve been helping to build but are unsure of the implications behind a management buyout? Or are you a company owner looking to sell and wondering what the concerns of a prospective management team could be? Join our experts & learn everything you need to know to pursue a successful MBO.
To view this Welch LLP webinar (and others), click here: http://www.welchllp.com/resource-centre/videos/webinars/
Venture Capital Funds 101: Understanding How They Are Structured and Operated...UCICove
About UCI Applied Innovation:
UCI Applied Innovation is a dynamic, innovative central platform for the UCI campus, entrepreneurs, inventors, the business community and investors to collaborate and move UCI research from lab to market.
About the Cove @ UCI:
To accelerate collaboration by better connecting innovation partners in Orange County, UCI Applied Innovation created the Cove, a physical, state-of-the-art hub for entrepreneurs to gather and navigate the resources available both on and off campus. The Cove is headquarters for UCI Applied Innovation, as well as houses several ecosystem partners including incubators, accelerators, angel investors, venture capitalists, mentors and legal experts.
Follow us on social media:
Facebook: @UCICove
Twitter: @UCICove
Instagram: @UCICove
LinkedIn: @UCIAppliedInnovation
For more information:
cove@uci.edu
http://innovation.uci.edu/
For many business owners, the major source of retirement funding is the sale of their business or assets owned by the business. Fortunately, there are a number of capital gains tax (CGT) concessions available to small business that reduce or even eliminate the capital gain on the disposal of certain assets. It is important to understand the concessions available and the eligibility requirements to ensure entitlements are maximised.
Acquisition Financing for Fundless Sponsors: 6 ways to negotiate better Indep...Greg Porto
Independent (fundless) sponsors can improve their deal economics (equity ownership or carried interest, transaction fee, annual management fee) by following these 6 guidelines
Kijana Mack Ashton Global Investment ManagementKijana Mack
Ashton Global maintains long-standing relationships based on trust. We seek to be the best emerging manager platform in the world and we are dedicated to exceeding the expectations of our investors.
https://www.ashtonglobal.com/
Ashton Global is an emerging manager platform that specializes in niche investment strategies related to small-cap stocks and special situations.
Kijana Mack – Senior Managing Director, Portfolio Manager
Kijana has 14 years of experience in institutional investment management and corporate finance. He is responsible for overall enterprise risk and portfolio risk management at Ashton Global.
https://soundcloud.com/user-364986019/kijana-mack-interview-about-emerging-managers
Ashton Global Emerging Manager Hedge FundsKijana Mack
Kijana Mack is the Founder and Senior Managing Director at Ashton Global
https://kijanamack.com/
Kijana A. Mack, an expert in the global finance and energy sectors.
Please email kijana.mack@gmail.com for more information.
1847 Holdings LLC, a publicly traded diversified acquisition holding company, was founded by Ellery W. Roberts, a former partner of Parallel Investment Partners, Saunders Karp & Megrue and Principal of Lazard Freres Strategic Realty Investors. EFSH's investment thesis is that capital market inefficiencies have left the founders and/or stakeholders of many small business enterprises and lower-middle market businesses with limited exit options, despite the intrinsic value of their business. Given this dynamic, EFSH can consistently acquire "solid" businesses for reasonable multiples of cash flow and then deploy resources to strengthen the infrastructure and systems to improve operations. These improvements may lead to a sale or IPO of an operating subsidiary at considerably higher valuations than the purchase price (as successfully demonstrated with the mid-2020 IPO of 1847 Goedeker on the NYSE American) and/or alternatively, an operating subsidiary may be held in perpetuity and contribute to EFSH's ability to pay regular and special dividends to shareholders.
What is EQUITYMULTIPLE? This presentation touches on what we are, why we are, and how we are different from other real estate "crowdfunding" platforms. For more info, please visit www.equitymultiple.com and/or contact info@equitymultiple.com
Phillip Gallo, was the keynote speaker at ICCI's February Industry Update Breakfast. The topic of the meeting was the Importance of a Corporate Governance Strategy.
Defination of Financial Management
Major Areas
Corporates
Corporate Structure
Corporate Objectives & Strategy
Factors influencing Corporate Objectives
Primary vs Secondary Objectives
Strategies(Corporate) / Tactical (Functional)
Role Of a Financial Manager
Knowing Your Funding Source - Presented by Jeevan Padiyar and Eric Baum
Lookout presentation for companies april 2013
1. Committed To Building Great Companies
Firm Overview
For Companies
www.lookoutcapital.com
2. About Lookout Capital
Lookout Capital provides a combination of capital and financial, strategic and
operational advisory to up-and-coming entrepreneurs, small but growing
companies as well as established businesses. The firm addresses a niche historically
and currently underserved by the capital markets. Our style of investment
management is to cultivate long-term partnerships between our firm, our portfolio
companies and our investors.
We operate by two guiding principles: (1) We want to help entrepreneurs and
management grow their businesses and build great companies, and (2) We are
people-focused, patient investors who seek superior long-term, risk-adjusted
investment returns.
Lookout has a successful record of private company investing, growing businesses,
corporate board service, and working closely with management teams. We are a
firm of distinguished financial and business professionals who have demonstrated
impeccable integrity and sound business judgment. We invite you to learn more
about us.
2
3. The Strategy
We invest in and work with companies that exist in the following general categories:
Growth Capital: Operating companies generating between $2 to $10 million in
revenue that are near break-even or slightly to solidly profitable
Buyout / Controlling Interest: Buyout or controlling interest investments in
operating companies with a transaction range of $5M - $20M
Early Stage: Early stage investments in healthcare and IT
Lookout seeks to only do deals where the interests of our investors and our portfolio
companies are aligned. We conduct thorough due diligence, providing comprehensive
analysis to our investors so they can make informed decisions. We get to know companies
well, working with management to construct plans before deals are consummated and the
first Lookout dollars are invested.
Our investment management style with our portfolio companies is proactive and involved.
We know the hard work begins after making an investment, so we contribute to our
companies’ causes by formally consulting with them and serving on Boards of each.
We strive to be a good partner to both our investors and our portfolio companies. In our
opinion, it’s the only way to do business.
3
4. The Principals
Merrette Moore – Managing Partner
• Co-founder and day-to-day operating executive of Lookout Capital
• Over ten years RTP-area investment experience at MCNC, IDEA Fund Partners and Lookout Capital
• Serves or has served on numerous portfolio company boards as a director or observer
• Investment deal lead for iContact, an email marketing provider that grew from $1.2 million at the
time of investment to over $50 million in annual revenue; Sold to Vocus for $169 million in February
2012
• Currently serving as advising consultant to Rex Health Ventures, an strategic investment fund recently
launched by Rex Healthcare
Bill Moore – Chairman
• Founder and CEO of specialty investment bank Trident Financial Corp., an industry leader in raising
capital and M&A transactions for financial institutions; Trident was sold to KeyCorp in 1999
• Current Chairman of RTI International, one of the world’s leading nonprofit research
institutes
• Partner, Franklin Street Partners, a Chapel Hill-based investment management business with
approximately $2B under management
• Professor Emeritus of the Practice of Finance, Kenan-Flagler Business School, UNC-CH
• Interim CEO, MCNC, Inc., Led the highly-successful restructuring and reorganization of MCNC
4
5. The Principals
Tim Lavelle – Head of Investment Banking
• Over 26 years of Investment Banking experience
• Former Managing Director of Trident Financial Corporation
• Former Head of Financial Institutions Group at Morgan Keegan & Company
Sam Drew – Principal
• Integral role in developing deals and guiding portfolio companies
• Actively involved in assisting firms in various stages of the growth cycle for his entire professional
career
• Former civil engineer, being the youngest person in the history of his company to run a division, his
consistently posted the highest revenue and gross profits within the company
• Received his MBA from the University of North Carolina Kenan-Flagler Business School and was a
recipient of the Johnson & Johnson MBA student leadership award
John Kane – Associate
• Responsible for deal sourcing, deal due diligence, fund raising, and support for the general
operations of the firm
• Former President & COO of YF Atlantic, LLC, the master franchisee of the mid-Atlantic region for one
of the world’s largest frozen yogurt franchises
• Founder of Midtown Multisport, LLC, the producer of a series of endurance events throughout the
Southeast
5
6. Our Advisors
Lookout Capital has assembled an all-star team of advisors and investors, proven
entrepreneurs, executives and investors capable of identifying and evaluating unique
investment opportunities, including:
Advisors
Tom Darden– CEO, Cherokee Funds; Former Chairman, Cherokee Sanford Group
Peter Scott– Former CFO, Progress Energy; Founder, Scott Madden and Associates
Paul Rizzo– Chairman Emeritus, Franklin Street Partners; Former CFO, IBM
Champ Mitchell– Former CEO, Network Solutions; Former EVP & COO RJR Tobacco, Co.;
Former Partner, Womble Carlyle
Chip Andrews – Senior Chairman, FMI Corporation
Bill Ross– Of Counsel, Brooks Pierce; Former Secretary of NC DENR
Susan Gravely–Co-founder and CEO, Vietri
Tim Lavelle – Former Managing Director, Trident Financial Corporation
Neil Bagchi – Founder of Bagchi Law
6
7. Investment Criteria
Lookout is addressing a niche currently and historically underserved by the capital markets.
Our general investment criteria includes:
Companies that desire and will benefit from operational, general management and
strategic input from our principals & investors
Companies providing services or products with a demonstrable, sustainable
competitive advantage
Companies either in large, highly-fragmented industries or in markets with high
projected annual growth
We are industry agnostic, but will invest only in what we know and understand
Business model of recurring revenue or repeat customers
Companies primarily based in North Carolina, preferably within a 2-3 hour drive of
Raleigh-Durham
Companies that are capital efficient and do not require a great deal of capital to
scale profitability
7
8. Pre-Funding Process
We segment the pre-funding process into 4 general steps:
1) Initial due diligence
Consists largely of getting to know the company management and familiarizing
ourselves with company operations and financials
2) Core due diligence
The period where we dive into the company’s business and mutually determine
whether it is in our collective interest to structure an investment
3) Investment terms negotiation
The terms under which we will invest, subject to completion of due
diligence, and get involved with the company are worked out
4) Final due diligence and deal closing
Due diligence is completed and the investment is finalized
The entire process typically takes several months, with most of the time being spent with the
first 2 steps. If a company is responsive, then the process timeline is likely to be compressed.
8
9. Typical Deal Structure Example
Below is a summary of the deal terms we typically seek to obtain in our
transactions. Of course, terms will vary from transaction to transaction.
Typical Terms:
• Preferred Stock or Subordinated Convertible Debenture
• $500K to $20 million transaction size
• Lookout may syndicate or act as a sponsor for larger transactions, but
prefers to be the lead investor
• 5-8% annual rate, possible PIK in first 1-3 years
• Lookout representative(s) on board
• Required annual independent stock valuation
• Lookout-produced required annual evaluation of updated company
strategic plan and projected impact on shareholder value
• Active initial involvement by Lookout (via a management services or
general consulting agreement)
9
10. Post-Funding Investment Management
• Immediately upon investment, Lookout personnel will serve in a part-time
management or consulting role. The portfolio company will compensate Lookout
for this service.
• We will work closely with senior management teams of our portfolio companies
to develop annual operating plans and long term strategic plans
• We will have at least one Lookout representative on the Board of Directors
• Quarterly board meetings and monthly update calls will be required
• Every year, we will require the company get an independent appraisal of company
and stock valuation
• As it is appropriate, we will assist our companies in any financing, liquidity or exit
process
10
11. Why Work With Lookout Capital
• We look at our relationships with portfolio companies as a collaboration -- We are a
partner, not just an investor
• We are actively involved in providing strategic, operational and financial advisory to
portfolio companies -- We want to be hands-on, but we are not micro-managers
• We have a wealth of experiences and skills among our principals, associates, and
advisory boards from which portfolio companies can draw -- We have a successful
record of private company investing, growing businesses, corporate board service,
and working closely with management teams
• We are patient investors -- We are willing to remain an investor as long as our
companies continue to build shareholder value
• We can help our portfolio companies find liquidity -- We have a demonstrable track
record of and a unique ability to structure exit and liquidity events for companies
11
12. Additional Information
We encourage prospective companies and investors to meet with and get to know Lookout
Capital’s principals, advisors and current investors. We have additional information and
documents for review. If you wish to follow up with us, feel free to reach out via the contact
information listed below:
W. Merrette Moore John M. Kane
Managing Partner Associate
Office: (919) 256-3633 Office: Please use mobile
Mobile: (919) 491-1805 Mobile: (919) 720-3980
mmoore@lookoutcapital.com jkane@lookoutcapital.com
Also, check out our website at
www.lookoutcapital.com
12
13. Legal Disclaimer
This document contains forward-looking statements. The forward-looking
statements reflect our current expectations and views about future events and
speak only as of the date the statements were made. The forward-looking
statements involve known and unknown risks, uncertainties and other factors that
might cause our actual results, performance or achievements to be materially
different from any future results, performance or achievements expressed or
implied by the forward-looking statements. Given these risks and
uncertainties, you should not place undue reliance on the forward-looking
statements.
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