Educational estimates, clearly bounded.

Black Scarab valuation estimates are for informational and educational purposes only. They are based on user-provided information, internal methodologies, and available market data.

Results are not a fairness opinion, appraisal, securities recommendation, transaction recommendation, tax advice, legal advice, accounting advice, or guarantee of transaction value. Actual values may differ materially based on diligence, market conditions, contractual rights, client retention, buyer synergies, financing terms, regulatory considerations, and other factors.

For wirehouse advisors, Estimated Practice Economic Value does not imply ownership of client accounts or assets. Actual transition economics depend on employment agreements, platform rules, client consent, retention, recruiting terms, deferred compensation, and other factors.

V1 valuation assumptions are internal placeholders requiring future validation against verified market data. Every result records its methodology version.