Summary of Recent Valuations


Acme Safe & Lock Services Company – a regional distributor of security systems. HPLP valued the Company and advised the shareholders regarding an equity restructuring.

CMA Design d/b/a Sawyer Associates, Inc. - a graphics design and creative arts provider of brand development services to the food, software and beverage market. HPLP advised the Company in formulating an organizational restructuring plan involving management and shareholders.
Eagle Broadband, Inc. [AMEX: EGGB] – a manufacturer of wireless communications equipment and software for paging, wireless messaging, remote data acquisition and specialized mobile radio (SMR) markets. HPLP provided a fairness opinion regarding the merger with Clearworks.net [AMEX: CLW]. The firm also recently provided a FAS 142 impairment study relating to certain intangibles acquired in the Clearworks.net transaction.

Flexitallic Group, Inc. - a multi-national manufacturer and distributor of gaskets and sealants. HPLP provided a FAS 142 impairment study regarding certain intangibles.

GraphTec, Inc. - a provider of signage graphics and printing services. HPLP valued the Company and advised shareholders regarding certain estate and tax planning matters.

InfoHighway Communications Corporation [NASD: IW] - a local exchange, long distance reseller and internet service provider. HPLP valued certain option grants and advised the Company on the allocation of intangibles and goodwill resulting from prior acquisitions.

Maritime Services Ltd - a shipping and truck brokerage services company. HPLP valued the Company and advised shareholders regarding certain estate and tax planning matters.

New Wavo Communication Group, Inc. - a regional, multi-licensed radio station operator serving Montgomery County and surrounding areas. HPLP valued the Company and advised the shareholder with respect to an equity recapitalization.

Ocean Design Associates, Inc. - an offshore and subsea engineering Company. HPLP valued the "built-in gain" resulting from a "C" to an "S" election and advised shareholders regarding the sale of the Company.

Petro Source Partners, Ltd. – a fuel distribution, marketing and trading firm. HPLP valued certain contracts and assets related to the sale of the fuel marketing and condensate business.

SurgiCare, Inc. [AMEX: SRG] – a develop and operator of free-standing, licensed outpatient surgical centers. HPLP provided a fairness opinion regarding a proposed recapitalization and corporate restructuring plan and provided an allocation of purchase price valuation regarding certain intangibles resulting from the restructuring and recapitalization.

TRE Financial Services, Inc. - a tax preparation software, service and development company. HPLP provided an independent assessment of management’s original estimates of the value of the Intangible Assets and advised the Company on the resulting allocation of value.

Tri-Coastal Legal Technologies, Inc. - a provider of high-end trial exhibits and demonstratives utilized in the legal, regulatory and commercial market. HPLP valued the "built-in gain" resulting from a "C" to an "S" election relating to the sale of the Company.

Tubular Technology, Inc. - a provider of rig-site tubular running, technical field and well completion services throughout the Gulf Coast region HPLP provided an allocation of purchase price and allocation of intangibles arising from the sale of the Company.

Turn-Key Coatings, Inc. – an energy services company providing industrial coatings and finishes for industrial purposes. HPLP valued certain of the Company’s fixed and intangible assets for allocation of purchase price purposes.

Varitek Industries, Inc. [NASD: VATK] – a provider of telematics security and asset management systems. HPLP valued certain compensatory “fee for services” shares and option grants and advised management with respect to an 83(b) election for tax purposes.