John Umstead

• Advise public and private companies in complex accounting and financial reporting matters related to business combinations, debt and equity financings, divestitures, GAAP change and other transformational events

• Detailed capital markets experience has included developing pro forma financial statements in conformity with ASC 805 and Article 11 of Regulation S-X for various significant acquisitions, 144A debt financing for acquisition of multinational carve-out business, opening balance sheet and purchase price allocation of acquired multinational carve-out business, client assistance with the preparation of seller carve-out financial statements, comfort letter procedures for IPO and other public offerings, and IPO readiness assessment for a private company • Detailed accounting advisory experience has included drafting memoranda related to business combinations (acquisitions and mergers), carve-out methodology for business unit divestiture, preferred equity and debt treatment and analysis, and various client assessments under the new revenue recognition standard • Engagements with companies in diverse industries including software, technology, bio-technology and pharmaceutical, contract research organizations, industrial products, and private equity • Supervision over and review of associates’ and senior associates’ work on various engagements prior to issuance of client deliverables • Actively participate in client discussions and presentations with middle and upper management of finance and accounting departments • Active in business development and proposals for prospective clients

• Audit engagements included experience in diverse industries including publicly traded semi-conductor and lighting component manufacturer, publicly traded contract research organization, and a real estate private equity fund • Led engagements and supervised staff through the planning, substantive testing, controls testing and reporting phases of annual audits and quarterly reviews • Specific audit work performed over Goodwill, Equity and Stock Based Compensation, Revenue, Revenue Reserves and fair value of Investments for real estate • Direct interaction and communications with personnel of publicly traded companies including Corporate Controller, Treasurer and Director of Financial Reporting

• Participated in annual audit engagements for publicly traded companies in various industries including open-source software, bio-technology and pharmaceutical life sciences, furniture manufacturing, and semi-conductor/lighting component manufacturing, as well as a real estate private equity fund • Led team of associates during quarterly review procedures in preparation of client 10-Q filings • Supervised team in the completion of a limited scope Defined Benefit Plan audit for a global bio-technology company • Specific audit work performed over Cash, A/R, Intangible Assets, Inventory, Investments and Liabilities

• Delivered loan review and due diligence services for banks with assets ranging from $100 million to $10 billion • Due diligence services were related to the acquisition of, or capital injection to, subject banks for the benefit of potential investors. • Assessed the credit quality and risk of loans within a bank’s portfolio by evaluating a borrower’s cash flow capacity, collateral support and stability, and the financial wherewithal of guarantors in accordance with bank policies and regulatory guidelines • Identified potential impairment losses to banks by valuing the underlying real estate or other asset collateral; losses were evaluated in comparison to the bank’s Allowance for Loan and Lease Losses (ALLL) for proper capital reserves of loans • Presented loan review data to bank management and board of directors to aid in assessment of bank’s loan portfolio quality

• Underwrote new and existing credits within the Bank’s $300 million commercial loan portfolio for the benefit of the President, Chief Credit Officer and loan officers to ensure proper loan structure, pricing and repayment terms

• Established new business with clients in Raleigh, Chapel Hill, and Durham; underwrote new loans and amassed a lending portfolio of over $10 million