Chicago, IL (PRWEB) November 04, 2014
DailyDAC’s Opportunistic Deal Database, founded in 2010 to help buyers of distressed assets source deals, announced today a significant expansion to the scope of its coverage: the inclusion of going concern opinions to its database. An auditor includes a going concern qualification in its audit when the auditor has serious doubt that the subject company may not be able to continue operating. Common causes include financial losses, liquidity concerns, or inability to service debt payments.
The Opportunistic Deal Database has in the past few years become a leading provider of intelligence about opportunities to acquire business assets from distressed middle market companies. According to managing director, Michele Schechter, “[t]he service was launched to fill an information void. Although very large distressed situations, like Radio Shack, always received a great deal of attention, the vast middle market was, and still is, quite inefficient. Our founder correctly believed that vulture investors would pay for access to such information.”
The expansion to include going concern opinions is a response to requests from current subscribers. Quite simply, according to Schechter, “while going concern opinions are a matter of public record, it is a time consuming process that many of our subscribers asked us to provide and, so, we decided to listen.”
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