Business Valuation Services

Expert Witnesses

DAVID N. ROUTZAHN JR., ASA

QUALIFICATIONS AS AN APPRAISER OF CORPORATE SECURITIES

Mr. Routzahn, who holds the designation of Senior Member in the American Society of Appraisers (ASA), prepares independent valuations of securities of closely-held companies for numerous purposes including estate planning, mergers and acquisitions, fairness opinions, goodwill impairment, equity distribution, arbitration and calculations of economic damages. He has performed valuations of companies in manufacturing, computer software, Internet services, retail, distribution, construction, agriculture, business services, housing and transportation.

Prior to joining Hempstead & Co. Inc., Mr. Routzahn was a Senior Financial Analyst and Accounting Officer with CoreStates Financial Corporation. He was involved with cost accounting, product pricing, exit analyses, and corporate valuations for the purpose of acquisition and/or strategic alliance.

Mr. Routzahn holds a Master of Business Administration in Finance from Drexel University and a Bachelor of Arts in Economics from Rowan University (formerly Glassboro State College). Mr. Routzahn is a member of the Finance Professionals Association, the Investment Banking Financial Analyst Association and the Financial Management Association through Drexel University.