Valuation | Houlihan Capital

FASB Reconsiders Contractual Sale Restrictions (ASU 2022-03): What the Proposal Means for Locked Token Valuations

15

Jul

Cryptoassets, Valuation, Whitepapers

FASB Reconsiders Contractual Sale Restrictions (ASU 2022-03): What the Proposal Means for Locked Token Valuations

The July 2026 proposal reinforces a market-participant approach that Houlihan Capital has applied to cryptoasset portfolios for years Executive Takeaway In 2022, the FASB issued ASU 2022-03, concluding that a contractual restriction on the sale of an equity security should not reduce fair value when the restriction is viewed as a characteristic…

Enhancing Valuation Confidence: The Role of Positive Assurance in Portfolio Valuation

01

Jul

Valuation, Whitepapers

Enhancing Valuation Confidence: The Role of Positive Assurance in Portfolio Valuation

When the Mark Gets Questioned The moment arrives in different forms. An auditor returns to a fair value conclusion with a request for additional support on the methodology applied to a Level 3 position. An institutional limited partner, conducting its own due diligence on the fund, asks how the manager arrived at a particular…

Personal Goodwill in Business Transactions: Not Just a Valuation Question — A Planning Imperative

28

May

101 Guides, Valuation

Personal Goodwill in Business Transactions: Not Just a Valuation Question — A Planning Imperative

Consider a professional services firm where three client relationships — each cultivated personally by the founder over fifteen years — account for 65% of annual revenue. The contracts are month-to-month. The clients call the founder directly. No formal account management structure exists. When this business goes to market, what is…

Preparing for a Sale: What to Expect from a Sell-Side Advisor

28

Apr

Financial Advisory, Valuation

Preparing for a Sale: What to Expect from a Sell-Side Advisor

Framing the Decision to Sell For many founder-owned businesses, a sale represents one of the most significant financial and strategic decisions an owner will make. It is often the culmination of years, if not decades, of effort, risk-taking, and reinvestment. Despite its importance, most founders go through the process only once. Unlike…

Cannabis Rescheduling Is Here. What It Means for Business Valuations.

27

Apr

Cannabis, Valuation

Cannabis Rescheduling Is Here. What It Means for Business Valuations.

On April 22, 2026, the Acting Attorney General issued a final order reclassifying FDA-approved marijuana products and state-licensed medical marijuana from Schedule I to Schedule III under the Controlled Substances Act. A formal DEA hearing on broader cannabis rescheduling is scheduled to begin June 29, 2026. This is the most…